ICS4U
ActiveSummary
ICS4U has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €81,035 and a net result of €30,929. Equity is shrinking by ~4.8% per year across the filed fiscal years. Its solvency ranks better than 26% of 564 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability78▲+3
Solvency45▼-6
Growth32=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity ample (current ratio 1.55 against 1.65 in 2023; short-term debt: 62.8% and cash: 25.2% of total assets), but 79.7% of the assets are financed with debt.
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Signals
Five 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 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
20.3%
Return on assets
7.7%
Age of the figures
21 mo
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €81,035
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
30 d late
2022
30 d late
2021
31 d late
2020
30 d late
2019
7 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 24 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
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Financials · fiscal year 2024, abbreviated schema
Equity
€81,035▲ 1.2%
2023 · €80,106
Total assets
€400,129▲ 30.4%
2023 · €306,913
Net result
€30,929▲ 98.7%
2023 · €15,570
Working capital
€137,022▲ 15.3%
2023 · €118,867
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€6,048-€15,245-€27,627▼ 81.2%€19,571€45,032▲ 130%
Net result€1,371within the sector's middle half-€10,198below the sector's middle half-€29,960below the sector's middle half▼ 194%€15,570within the sector's middle half€30,929within the sector's middle half▲ 98.7%
Equity€98,544within the sector's middle half▲ 1.4%€88,346within the sector's middle half▼ 10.3%€64,536within the sector's middle half▼ 27.0%€80,106within the sector's middle half▲ 24.1%€81,035within the sector's middle half▲ 1.2%
Total assets€228,145within the sector's middle half▼ 43.6%€189,026within the sector's middle half▼ 17.1%€158,775below the sector's middle half▼ 16.0%€306,913within the sector's middle half▲ 93.3%€400,129within the sector's middle half▲ 30.4%
Debt€129,601▼ 57.8%€100,680▼ 22.3%€94,239▼ 6.4%€226,807▲ 141%€319,094▲ 40.7%
Working capital€80,000▼ 4.4%€81,336▲ 1.7%€58,673▼ 27.9%€118,867▲ 103%€137,022▲ 15.3%
Solvency43.2%within the sector's middle half▲ 19.2pp46.7%within the sector's middle half▲ 3.5pp40.6%within the sector's middle half▼ 6.1pp26.1%within the sector's middle half▼ 14.5pp20.3%within the sector's middle half▼ 5.8pp
Staff (FTE)3.5within the sector's middle half▼ 7.9%3.5within the sector's middle half=3.5within the sector's middle half=3.3within the sector's middle half▼ 5.7%2.5within the sector's middle half▼ 24.2%
above
within
below
the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 130% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €400,129
Fixed assets
€11,852 ▲ 125%
Current assets
€388,276 ▲ 28.7%
Equity and liabilities €400,129
Equity
€81,035 ▲ 1.2%
Debt
€319,094 ▲ 40.7%
Debt's share of the balance-sheet total rises from 73.9% to 79.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€47,044▲
2023 · €20,918
Cash flow
€32,940▲
2023 · €16,916
Current ratio
1.55▼
2023 · 1.65
Quick ratio
1.52▼
2023 · 1.65
Debt to equity
3.94▲
2023 · 2.83
ROE
38.2%▲
2023 · 19.4%
ROA
7.7%▲
2023 · 5.1%
Interest coverage
55.62▲
2023 · 15.39
Debt ≤ 1 year
€251,254▲
2023 · €182,780
Income taxes
€13,791▲
2023 · €2,797
Staff costs
€157,114▼
2023 · €197,873
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,053 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 96% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
2.3%
stopped otherwise
96%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 5,053 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €10,997 | €0 | - | €3,099 | - |
| Remuneration, social security and pensions62 | - | €173,682 | €185,883 | €197,873 | €157,114 | ▼ 20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,984 | €844 | €1,347 | €1,347 | €2,011 | ▲ 49.3% |
| Other operating charges640/8 | - | €3,156 | €2,351 | €2,195 | €2,064 | ▼ 6.0% |
| Non-recurring operating charges66A | - | €7,786 | €0 | - | - | - |
| Gross operating margin9900 | €141,487 | €170,223 | €161,954 | €220,985 | €206,222 | ▼ 6.7% |
| Operating profit (loss)9901 | €6,048 | -€15,245 | -€27,627 | €19,571 | €45,032 | ▲ 130% |
| Financial income75/76B | - | €5,981 | €49 | €155 | €534 | ▲ 245% |
| Recurring financial income75 | €41 | €5,981 | €49 | €155 | €534 | ▲ 245% |
| Financial charges65/66B | - | €934 | €2,382 | €1,359 | €846 | ▼ 37.8% |
| Recurring financial charges65 | €1,572 | €934 | €2,382 | €1,359 | €846 | ▼ 37.8% |
| Profit (loss) for the period before taxes9903 | €4,517 | -€10,198 | -€29,960 | €18,367 | €44,721 | ▲ 143% |
| Income taxes67/77 | €3,146 | - | - | €2,797 | €13,791 | ▲ 393% |
| Profit (loss) for the period9904 | €1,371 | -€10,198 | -€29,960 | €15,570 | €30,929 | ▲ 98.7% |
| Profit (loss) for the period to be appropriated9905 | €1,371 | -€10,198 | -€29,960 | €15,570 | €30,929 | ▲ 98.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €228,145 | €189,026 | €158,775 | €306,913 | €400,129 | ▲ 30.4% |
| Fixed assets21/28 | €18,544 | €7,010 | €5,863 | €5,266 | €11,852 | ▲ 125% |
| Tangible fixed assets22/27 | €15,737 | €4,203 | €2,856 | €1,509 | €8,146 | ▲ 440% |
| Plant, machinery and equipment23 | - | €994 | €792 | €590 | €388 | ▼ 34.2% |
| Furniture and vehicles24 | - | €3,209 | €2,064 | €919 | €7,758 | ▲ 744% |
| Financial fixed assets28 | €2,807 | €2,807 | €3,007 | €3,757 | €3,707 | ▼ 1.3% |
| Current assets29/58 | €209,601 | €182,016 | €152,912 | €301,647 | €388,276 | ▲ 28.7% |
| Stocks and contracts in progress3 | - | - | - | - | €5,511 | - |
| Contracts in progress37 | - | - | - | - | €5,511 | - |
| Amounts receivable within one year40/41 | €127,473 | €110,377 | €119,853 | €208,697 | €269,348 | ▲ 29.1% |
| Trade receivables40 | - | €95,520 | €98,544 | €179,344 | €230,945 | ▲ 28.8% |
| Other amounts receivable41 | - | €14,857 | €21,310 | €29,353 | €38,403 | ▲ 30.8% |
| Current investments50/53 | - | - | - | €50,000 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €71,468 | €37,383 | €22,340 | €16,449 | €100,857 | ▲ 513% |
| Deferred charges and accrued income490/1 | - | €34,256 | €10,719 | €26,501 | €12,561 | ▼ 52.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €228,145 | €189,026 | €158,775 | €306,913 | €400,129 | ▲ 30.4% |
| Equity10/15 | €98,544 | €88,346 | €64,536 | €80,106 | €81,035 | ▲ 1.2% |
| Contributions10/11 | - | €12,400 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Non-distributable reserves130/1 | - | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Reserves not available under the articles1311 | - | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Profit (loss) carried forward14 | €84,289 | €74,091 | €44,131 | €59,701 | €60,630 | ▲ 1.6% |
| Amounts payable17/49 | €129,601 | €100,680 | €94,239 | €226,807 | €319,094 | ▲ 40.7% |
| Amounts payable within one year42/48 | €129,601 | €100,680 | €94,239 | €182,780 | €251,254 | ▲ 37.5% |
| Trade debts44 | €83,868 | €64,772 | €54,522 | €138,599 | €180,212 | ▲ 30.0% |
| Suppliers440/4 | - | €64,772 | €54,522 | €138,599 | €180,212 | ▲ 30.0% |
| Taxes, remuneration and social security45 | - | €2,397 | €6,205 | €13,669 | €5,002 | ▼ 63.4% |
| Taxes450/3 | - | €36 | €36 | €1,173 | €1,375 | ▲ 17.2% |
| Remuneration and social security454/9 | - | €2,362 | €6,170 | €12,496 | €3,627 | ▼ 71.0% |
| Other amounts payable47/48 | - | €33,511 | €33,511 | €30,511 | €66,040 | ▲ 116% |
| Accrued charges and deferred income492/3 | - | - | - | €44,027 | €67,840 | ▲ 54.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,371 | -€10,198 | -€29,960 | €15,570 | €30,929 | ▲ 98.7% |
| + Depreciation and write-downs630 | €5,984 | €844 | €1,347 | €1,347 | €2,011 | ▲ 49.3% |
| Operating cash flow (approximation) | €7,355 | -€9,354 | -€28,613 | €16,916 | €32,940 | ▲ 94.7% |
| Investment in fixed assets (approximation) | - | €10,691 | -€200 | -€750 | -€8,597 | ▼ 1,046% |
| Change in cash | - | -€34,085 | -€15,043 | -€5,891 | €84,409 | ▲ 1,533% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
31-12
Financial
Back to profitnet €15,570
Net result €15,570 after 2 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 30 days late
2022
31-12
Financial
Weakest financial yearnet -€29,960
Net result drops to -€29,960, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
31-12
Financial
Back to profitnet €1,371
Net result €1,371 after one loss-making year.
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
29-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Kortrijk · 1 establishment unit since 2007
Ground area
3,265 m²
Building footprint
357 m²
Parcel 34354D0135/00D000, Flanders. Linked by address, not a title deed.
1 establishment unit
ICS4U
since 20072.161.176.925
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34354D0135/00D000 | Flanders | 3,265 m² | 1 · 357 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
6 categoriesICS4U BV30244
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Of 1,452 companies in sector 74130 we hold annual accounts for 340. 279 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded16-03-2007
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
74130Interior design
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0888020845
Registered
13-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.