IEFUSION
ActiveSummary
For IEFUSION, at least two filing cycles of the annual accounts are missing. The 2023 annual accounts show negative equity (-€267,062) and a net result of -€23,692. Equity is shrinking by ~24.7% per year across the filed fiscal years. Its solvency ranks better than 5% of 4454 sector peers (fiscal year 2023). The company has been active since 2002 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
No current score
Figures too old
The available figures for FY 2023 are too old to assess current financial health.
Filing: At least two filing cycles are missing
Axes, FY 2023 · tick = 2022
Profitability66▲+66
Solvency0=
Growth38=
Track record92
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 2023Solvency, return and age of the figures
Solvency
-117.9%
Return on assets
-10.5%
Age of the figures
42 mo
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
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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 · Two or more financial years not filed
Since the financial year that closed on 31-03-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 7 filingsPosition against the passed deadline
31-03-2024 close31-10-2024 deadline30-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-03-2023 was due by 31-10-2023 and was filed on 05-01-2024, 66 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 · 7 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
66 d late
2022
395 d late
2021
759 d late
2020
54 d late
2019
122 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 230 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Strikeout withdrawal
History
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Financials · fiscal year 2023, full schema
Turnover
€16,045▼ 42.1%
2022 · €27,721
EBIT margin
-146.2%▲ 54.1pp
2022 · -200.2%
Net result
-€23,692▲ 59.6%
2022 · -€58,574
Working capital
-€432,201▲ 0.6%
2022 · -€434,663
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20192020202120222023
Turnover€77,909-€62,874▼ 19.3%€22,711▼ 63.9%€27,721▲ 22.1%€16,045▼ 42.1%
Operating result-€53,160--€44,690▲ 15.9%-€38,736▲ 13.3%-€55,510▼ 43.3%-€23,451▲ 57.8%
Net result-€59,678--€50,833below the sector's middle half▲ 14.8%-€43,488below the sector's middle half▲ 14.5%-€58,574below the sector's middle half▼ 34.7%-€23,692below the sector's middle half▲ 59.6%
EBIT margin-68.2%--71.1%▼ 2.8pp-170.6%▼ 99.5pp-200.2%▼ 29.7pp-146.2%▲ 54.1pp
Equity-€90,474--€141,308below the sector's middle half▼ 56.2%-€184,796below the sector's middle half▼ 30.8%-€243,370below the sector's middle half▼ 31.7%-€267,062below the sector's middle half▼ 9.7%
Total assets€463,829-€421,067within the sector's middle half▼ 9.2%€346,216below the sector's middle half▼ 17.8%€270,665below the sector's middle half▼ 21.8%€226,420below the sector's middle half▼ 16.3%
Debt€554,304-€562,375▲ 1.5%€531,011▼ 5.6%€514,035▼ 3.2%€493,482▼ 4.0%
Working capital-€311,295--€355,930below the sector's middle half▼ 14.3%-€384,554below the sector's middle half▼ 8.0%-€434,663below the sector's middle half▼ 13.0%-€432,201below the sector's middle half▲ 0.6%
Solvency-19.5%--33.6%below the sector's middle half▼ 14.1pp-53.4%below the sector's middle half▼ 19.8pp-89.9%below the sector's middle half▼ 36.5pp-117.9%below the sector's middle half▼ 28.0pp
Current ratio0.29-0.21below the sector's middle half▼ 0.080.15below the sector's middle half▼ 0.060.15below the sector's middle half=0.12below the sector's middle half▼ 0.03
Return on assets (ROA)-12.9%--12.1%below the sector's middle half▲ 0.8pp-12.6%below the sector's middle half▼ 0.5pp-21.6%below the sector's middle half▼ 9.1pp-10.5%below the sector's middle half▲ 11.2pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €23,451 in 2023 against €55,510 in 2022; the loss shrinks.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €226,420
Fixed assets
€165,140 ▼ 13.7%
Current assets
€61,281 ▼ 22.8%
Key figures and ratios
EBITDA
€2,702▲
2022 · -€29,357
Cash flow
€2,461▲
2022 · -€32,421
Debt to equity
-1.85▲
2022 · -2.11
Interest coverage
11.22▲
2022 · -7.67
Debt ≤ 1 year
€493,482▼
2022 · €514,035
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €77,909 | €62,874 | €22,711 | €27,721 | €16,045 | ▼ 42.1% |
| Goods, raw materials, services and sundry goods60/61 | - | - | €16,003 | €4,838 | €12,392 | ▲ 156% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €42,326 | €49,373 | €50,081 | €26,153 | €26,153 | = |
| Other operating charges640/8 | - | - | €1,462 | €3,153 | €2,386 | ▼ 24.3% |
| Gross operating margin9900 | -€8,730 | €10,738 | €12,808 | -€26,204 | €5,089 | ▲ 119% |
| Operating profit (loss)9901 | -€53,160 | -€44,690 | -€38,736 | -€55,510 | -€23,451 | ▲ 57.8% |
| Financial income75/76B | - | - | - | €765 | - | - |
| Recurring financial income75 | - | - | - | €765 | - | - |
| Financial charges65/66B | - | - | €4,752 | €3,829 | €241 | ▼ 93.7% |
| Recurring financial charges65 | €6,518 | €6,144 | €4,752 | €3,829 | €241 | ▼ 93.7% |
| Profit (loss) for the period before taxes9903 | -€59,678 | -€50,833 | -€43,488 | -€58,574 | -€23,692 | ▲ 59.6% |
| Profit (loss) for the period9904 | -€59,678 | -€50,833 | -€43,488 | -€58,574 | -€23,692 | ▲ 59.6% |
| Profit (loss) for the period to be appropriated9905 | -€59,678 | -€50,833 | -€43,488 | -€58,574 | -€23,692 | ▲ 59.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €463,829 | €421,067 | €346,216 | €270,665 | €226,420 | ▼ 16.3% |
| Fixed assets21/28 | €337,025 | €326,427 | €276,346 | €191,293 | €165,140 | ▼ 13.7% |
| Tangible fixed assets22/27 | €299,585 | €288,987 | €238,906 | €153,853 | €127,700 | ▼ 17.0% |
| Land and buildings22 | - | - | €216,130 | €138,462 | €119,694 | ▼ 13.6% |
| Furniture and vehicles24 | - | - | €22,776 | €15,391 | €8,006 | ▼ 48.0% |
| Financial fixed assets28 | €37,440 | €37,440 | €37,440 | €37,440 | €37,440 | = |
| Current assets29/58 | €126,804 | €94,640 | €69,870 | €79,372 | €61,281 | ▼ 22.8% |
| Amounts receivable within one year40/41 | €117,452 | €84,983 | €57,886 | €1,764 | €1,764 | = |
| Trade receivables40 | - | - | €57,886 | €1,764 | €1,764 | = |
| Cash at bank and in hand54/58 | €9,352 | €9,658 | €11,722 | €77,608 | €59,516 | ▼ 23.3% |
| Deferred charges and accrued income490/1 | - | - | €262 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €463,829 | €421,067 | €346,216 | €270,665 | €226,420 | ▼ 16.3% |
| Equity10/15 | -€90,474 | -€141,308 | -€184,796 | -€243,370 | -€267,062 | ▼ 9.7% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | - | - | €6,200 | €6,200 | €6,200 | = |
| Issued capital100 | - | - | €18,600 | €18,600 | €18,600 | = |
| Uncalled capital101 | - | - | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€98,534 | -€149,368 | -€192,856 | -€251,430 | -€275,122 | ▼ 9.4% |
| Amounts payable17/49 | €554,304 | €562,375 | €531,011 | €514,035 | €493,482 | ▼ 4.0% |
| Amounts payable after more than one year17 | €116,204 | €111,805 | €76,587 | - | - | - |
| Financial debts170/4 | - | - | €76,587 | - | - | - |
| Amounts payable within one year42/48 | €438,100 | €450,570 | €454,424 | €514,035 | €493,482 | ▼ 4.0% |
| Current portion of amounts payable after more than one year42 | - | - | €35,218 | - | - | - |
| Trade debts44 | €2,141 | - | €4,097 | €4,131 | €4,496 | ▲ 8.9% |
| Suppliers440/4 | - | - | €4,097 | €4,131 | €4,496 | ▲ 8.9% |
| Taxes, remuneration and social security45 | - | - | €11,862 | €1,791 | €1,120 | ▼ 37.5% |
| Taxes450/3 | - | - | €11,862 | €1,791 | €1,120 | ▼ 37.5% |
| Remuneration and social security454/9 | - | - | - | - | €0 | - |
| Other amounts payable47/48 | - | - | €403,247 | €508,113 | €487,866 | ▼ 4.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€59,678 | -€50,833 | -€43,488 | -€58,574 | -€23,692 | ▲ 59.6% |
| + Depreciation and write-downs630 | €42,326 | €49,373 | €50,081 | €26,153 | €26,153 | = |
| Operating cash flow (approximation) | -€17,351 | -€1,460 | €6,593 | -€32,421 | €2,461 | ▲ 108% |
| Investment in fixed assets (approximation) | - | -€38,776 | €0 | €58,900 | €0 | ▼ 100% |
| Change in cash | - | €306 | €2,064 | €65,886 | -€18,092 | ▼ 127% |
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
2024
05-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 66 days late
2023
30-11
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 395 days late
29-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 759 days late
2020
24-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 54 days late
2019
19-07
KBO administration
Strikeout withdrawal
event 01-07-2019
01-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 243 days late
2017
29-12
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 59 days late
SignalNBB filing
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, Etterbeek
Ground area
547 m²
Building footprint
375 m²
Volume, LiDAR
7,609 m³
Parcel 21005A0577/00S006, Brussels · tallest building 25.7 m, ±7 floors. Linked by address, not a title deed.
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21005A0577/00S006 | Brussels | 547 m² | 1 · 375 m² | 25.7 m · 7 fl. |
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.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 82,601 companies in sector 70200 we hold annual accounts for 52,615. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded24-06-2002
Fiscal year end31-03
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0477814278
Also
9925:BE0477814278
Registered
05-07-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.