ICF
ActiveSummary
ICF has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €36.57M and a net result of €4.51M. Equity is growing by ~7.5% per year across the filed fiscal years. Its solvency ranks better than 67% of 3200 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
79
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability63▲+4
Solvency98▲+6
Growth81▼-4
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2M at 30 days acceptable
Liquidity ample (current ratio 5.58 against 4.52 in 2024; short-term debt: 9.1% and cash: 1.2% of total assets), and 27.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
72.5%
Return on assets
8.9%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-07-2026, 1 day ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
1 d early
2024
5 d late
2023
28 d early
2022
8 d late
2021
52 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema, statutory accounts
Turnover
€41.34M▼ 6.2%
2024 · €44.07M
2018: €14.54M
2019: €21.44M
2021: €34.02M
2022: €40.19M
2023: €39.87M
2024: €44.07M
2018 → 2025
EBIT margin
1.9%▼ 1.4pp
2024 · 3.3%
2018: 3.8%
2019: 4.7%
2021: 7.0%
2022: 6.1%
2023: 6.3%
2024: 3.3%
2018 → 2025
Net result
€4.51M▲ 430%
2024 · €851k
2018: €367k
2019: €515k
2021: €1.51M
2022: €1.74M
2023: €1.76M
2024: €851k
2018 → 2025
Working capital
€20.98M▼ 21.2%
2024 · €26.63M
2018: €2.28M
2019: €4.61M
2021: €12.11M
2022: €20.44M
2023: €23.59M
2024: €26.63M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€34.02M-€40.19M▲ 18.2%€39.87M▼ 0.8%€44.07M▲ 10.5%€41.34M▼ 6.2%
Equity€25.91M-€37.21M▲ 43.6%€38.97M▲ 4.7%€39.82M▲ 2.2%€36.57M▼ 8.2%
Operating result€2.39M-€2.45M▲ 2.6%€2.51M▲ 2.5%€1.46M▼ 41.8%€794k▼ 45.7%
Net result€1.51M-€1.74M▲ 15.2%€1.76M▲ 1.1%€851k▼ 51.6%€4.51M▲ 430%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 46% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €50.42M
Fixed assets
€24.85M ▼ 0.6%
Current assets
€25.57M ▼ 25.2%
Equity and liabilities €50.42M
Equity
€36.57M ▼ 8.2%
Provisions
€0 ▼ 100%
Debt
€13.85M ▼ 28.5%
Debt's share of the balance-sheet total falls from 32.7% to 27.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€947k▼
2024 · €1.64M
Cash flow
€4.66M▲
2024 · €1.02M
Current ratio
5.58▲
2024 · 4.52
Debt to equity
0.38▼
2024 · 0.49
ROE
12.3%▲
2024 · 2.1%
ROA
8.9%▲
2024 · 1.4%
Interest coverage
472.53▼
2024 · 592.37
Debt ≤ 1 year
€4.59M▼
2024 · €7.57M
Income taxes
€340k▼
2024 · €418k
Staff costs
€6.31M▼
2024 · €6.55M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 70 lines
Balance sheet
Code20242025
Assets
Total assets20/58€59.21M€50.42M▼
Fixed assets21/28€25.01M€24.85M▼
Intangible fixed assets21€224k€156k▼
Tangible fixed assets22/27€275k€189k▼
Furniture and vehicles24€53k€11k▼
Other tangible fixed assets26€222k€178k▼
Financial fixed assets28€24.51M€24.51M=
Affiliated companies280/1€24.51M€24.51M=
Participating interests280€24.51M€24.51M=
Current assets29/58€34.21M€25.57M▼
Amounts receivable within one year40/41€21.52M€12.28M▼
Trade receivables40€12.55M€8.50M▼
Other amounts receivable41€8.97M€3.78M▼
Cash at bank and in hand54/58€281k€619k▲
Deferred charges and accrued income490/1€12.40M€12.67M▲
Equity and liabilities
Total equity and liabilities10/49€59.21M€50.42M▼
Equity10/15€39.82M€36.57M▼
Contributions10/11€18.54M€18.54M=
Capital10€18.54M€18.54M=
Issued capital100€18.54M€18.54M=
Reserves13€21.28M€18.03M▼
Non-distributable reserves130/1€741k€1.85M▲
Legal reserve130€741k€1.85M▲
Distributable reserves133€20.54M€16.18M▼
Provisions and deferred taxes16€13k-
Provisions for liabilities and charges160/5€13k-
Other liabilities and charges164/5€13k-
Amounts payable17/49€19.38M€13.85M▼
Amounts payable within one year42/48€7.57M€4.59M▼
Trade debts44€6.74M€3.82M▼
Suppliers440/4€6.74M€3.82M▼
Taxes, remuneration and social security45€835k€762k▼
Taxes450/3€197k€205k▲
Remuneration and social security454/9€638k€557k▼
Accrued charges and deferred income492/3€11.81M€9.27M▼
Income statement
Code20242025
Operating income70/76A€44.78M€42.18M▼
Turnover70€44.07M€41.34M▼
Other operating income74€717k€846k▲
Operating charges60/66A€43.32M€41.39M▼
Goods for resale, raw materials and consumables60€31.18M€30.32M▼
Purchases600/8€31.18M€30.32M▼
Services and other goods61€4.32M€3.73M▼
Remuneration, social security and pensions62€6.55M€6.31M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€174k€153k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€4k€17k▲
Other operating charges640/8€849k€860k▲
Non-recurring operating charges66A€253k-
Operating profit (loss)9901€1.46M€794k▼
Financial income75/76B€6k€5.06M▲
Recurring financial income75€6k€5.06M▲
Income from financial fixed assets750-€4.05M
Other financial income752/9€6k€1.00M▲
Financial charges65/66B€200k€1.00M▲
Recurring financial charges65€200k€1.00M▲
Debt charges650€3k€2k▼
Other financial charges652/9€197k€1.00M▲
Profit (loss) for the period before taxes9903€1.27M€4.85M▲
Income taxes67/77€418k€340k▼
Taxes670/3€418k€340k▼
Profit (loss) for the period9904€851k€4.51M▲
Profit (loss) for the period to be appropriated9905€851k€4.51M▲
Appropriation of the result
Profit (loss) to be appropriated9906€851k€4.51M▲
Transfer from equity791/2-€7.75M
From reserves792-€7.75M
Transfer to equity691/2€851k€4.51M▲
To the legal reserve6920€43k€1.11M▲
To other reserves6921€808k€3.39M▲
Profit to be distributed694/7-€7.75M
Return on contributions (dividend)694-€7.75M
Social balance
Average headcount (FTE)908778.070.1▼
The notes to these accounts (41 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · consolidated
2025
31-12
Financial
Highest result since 2018net €4.51M ▲430%
Net result €4.51M, the highest in the series.
05-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 5 days late
05-08
NBB filing
Annual accounts filed
fiscal year 2024 · consolidated · 5 days late
2024
03-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
03-07
NBB filing
Annual accounts filed
fiscal year 2023 · consolidated
2023
08-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 8 days late
08-08
NBB filing
Annual accounts filed
fiscal year 2022 · consolidated · 8 days late
2022
09-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
09-06
NBB filing
Annual accounts filed
fiscal year 2021 · consolidated
2021
31-12
Financial
Equity above €25MEq €25.91M ▲9.4%
3 profitable years in a row build equity to €25.91M.
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 26 acts read
About the unread acts
We know of 26 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
26 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Brussel · 1 establishment unit since 2009
Ground area
1,957 m²
Building footprint
503 m²
Volume, LiDAR
16,080 m³
Parcel 21805E0544/00A000, Brussels · tallest building 34.6 m, ±11 floors. Linked by address, not a title deed.
32
companies at this address
See who is registered here
1 establishment unit
ICF
since 20092.182.679.449
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21805E0544/00A000 | Brussels | 1,957 m² | 1 · 503 m² | 34.6 m · 11 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
European Union, budget
2021 to 2025 · 410 entries · 131,649,737 EUR in total| Year | Entries | awarded |
|---|---|---|
| 2025 | 66 | 24,565,264 EUR |
| 2024 | 93 | 28,139,829 EUR |
| 2023 | 97 | 31,662,607 EUR |
| 2022 | 81 | 24,554,900 EUR |
| 2021 | 73 | 22,727,137 EUR |
Projects
SUPPORT FOR EMISSIONS TRADING POLICY DIALOGUE AND COOPERATION BETWEEN EU AND CHINA
TRANSATLANTIC SUSTAINABLE TRANSITION INITIATIVE (TSTI)
LOW CARBON AND CIRCULAR ECONOMY BUSINESS ACTION IN CANADA (PHASE II)
TECHNICAL SUPPORT TO THE EUROPEAN MIGRATION NETWORK.
SPECIFIC CONTRACT SI2.914672 + SI2.914931 ALUMNI SC2-2024-2025 IMPLEMENTING SERVICE FWC SI2.3707 "PROVISION OF SERVICES FOR ERASMUS+ INTERNATIONAL STUDENT AND ALUMNI NETWORKS" FOR 18 MONTHS
Show 30 more projects
SUPPORT TO EU ARCTIC POLICY
PROVISION OF ADVISORY SERVICES TO THE EUROPEAN COMMISSION VIA A EUROPEAN CENTRE OF EXPERTISE IN THE FIELD OF LABOUR LAW EMPLOYMENT AND LABOUR POLICIES (ECE) - LOT 1
TECHNICAL AND LOGISTICAL SUPPORT TO THE ACTIVITIES OF THE EUROPEAN MIGRATION NETWORK IN 2025
SUPPORT SERVICES RELATED TO QUALITY ASSURANCE IN VOCATIONAL EDUCATION AND TRAINING (EQAVET), GRADUATE TRACKING AND EUROPEAN VOCATIONAL CORE PROFILES (EVCP)
UNDERSTANDING CHINESE LEGAL ECONOMIC REFORM 2020 (EUCLERA)
EU-CHINA ENERGY COOPERATION PLATFORM
HERA’S TRAINING PROGRAMME 2025- 2026
ALUMNI FWC - REQUEST FOR SERVICES N°3
INTERNATIONAL URBAN AND REGIONAL COOPERATION NORTH AMERICA-IURC NA III
CONSULTANCY SERVICES
ESTABLISHMENT, MANAGEMENT AND COORDINATION OF THE EU CHILDREN’S PARTICIPATION PLATFORM
CIVIL-MILITARY TRAINING
EVALUATION SERVICES
TECHNICAL SUPPORT FOR THE EUROPEAN MIGRATION NETWORK
COMMUNICATIONS AND PUBLICATIONS
SUPPORT SERVICES IN THE AREA OF EDUCATION
MUTUAL LEARNING, MUTUAL ASSISTANCE AND SUPPORTING SERVICES FOR THE PES NETWORK IN 2024
NETWORK OF EXPERTS: EUROPEAN LABOUR LAW (COUNTRY SPECIFIC EXPERTISE)
PROVISION OF ADVISORY SERVICES TO THE EUROPEAN COMMISSION WITHIN THE FRAMEWORK OF A EUROPEAN LABOUR LAW NETWORK
CONSULTANCY/ADVISORY SERVICES
PES (PUBLIC EMPLOYMENT SERVICES) NETWORK SUPPORT
EUROPEAN PUBLIC ADMINISTRATION COUNTRY KNOWLEDGE 2023
EUROPEAN PUBLIC ADMINISTRATION COUNTRY KNOWLEDGE 2022
MUTUAL LEARNING, MUTUAL ASSISTANCE AND SUPPORTING SERVICES FOR THE PES NETWORK IN 2025
PES (PUBLIC EMPLOYMENT SERVICES) MUTUAL LEARNING AND MUTUAL ASSISTANCE ACTIVITIES AS WELL AS SUPPORT SERVICES IN 2023
SUPPORT TO THE ORGANISATION OF THE 3RD AFRICAN PEER REVIEW MECHANISM (APRM) CONTINENTAL YOUTH SYMPOSIUM IN UGANDA
PHASE 5 OF THE EUROPEAN BUSINESS AND BIODIVERSITY PLATFORM DURING 2023/2024/2025
SUPPORT TO MEMBER STATES IN THE IMPLEMENTATION OF THE REGULATION (EU) 2018/1999 ON THE GOVERNANCE OF THE ENERGY UNION AND CLIMATE ACTION
EXPLORATORY STUDY ON THE PROVISION OF CARE FOR ADOLESCENT AND YOUNG ADULT (AYA) CANCER PATIENTS IN THE UNION HADEA/2024/OP/0027
SUSTAINABLE AND EFFECTIVE BLUE ECONOMY PUBLIC GOVERNANCE SYSTEM
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 2,528 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded05-11-2009
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 32 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.