IF-THEN
ActiveSummary
IF-THEN has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €130,077 and a net result of €14,676. Equity is growing by ~10% per year across the filed fiscal years. Its solvency ranks better than 51% of 37964 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability60▲+60
Solvency84▲+2
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days only on tighter terms
Liquidity ample (current ratio 2.4 against 2.29 in 2023; short-term debt: 41.1% and cash: 0% of total assets), and 41.3% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
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 →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 07-04-2026, 250 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
250 d late
2023
57 d late
2022
330 d late
2021
89 d late
2020
31 d late
2019
38 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 120 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€130,077▲ 12.7%
2023 · €115,402
Total assets
€221,702▲ 9.5%
2023 · €202,386
Net result
€14,676
2023 · -€30,546
Working capital
€127,300▲ 13.7%
2023 · €111,993
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
Line20202021202220232024
Operating result€88,253▲ 2,548%-€8,377€28,519-€24,507€22,129
Net result€66,202above the sector's middle half-€13,039below the sector's middle half€20,068within the sector's middle half-€30,546below the sector's middle half€14,676within the sector's middle half
Equity€138,918within the sector's middle half▲ 91.0%€125,880within the sector's middle half▼ 9.4%€145,948within the sector's middle half▲ 15.9%€115,402within the sector's middle half▼ 20.9%€130,077within the sector's middle half▲ 12.7%
Total assets€240,083within the sector's middle half▲ 14.8%€230,429within the sector's middle half▼ 4.0%€250,849within the sector's middle half▲ 8.9%€202,386within the sector's middle half▼ 19.3%€221,702within the sector's middle half▲ 9.5%
Debt€101,165▼ 25.9%€104,550▲ 3.3%€104,901▲ 0.3%€86,984▼ 17.1%€91,624▲ 5.3%
Working capital€156,529above the sector's middle half▲ 54.5%€130,194within the sector's middle half▼ 16.8%€142,481above the sector's middle half▲ 9.4%€111,993within the sector's middle half▼ 21.4%€127,300within the sector's middle half▲ 13.7%
Solvency57.9%within the sector's middle half▲ 23.1pp54.6%within the sector's middle half▼ 3.2pp58.2%within the sector's middle half▲ 3.6pp57.0%within the sector's middle half▼ 1.2pp58.7%within the sector's middle half▲ 1.7pp
Current ratio2.96within the sector's middle half▲ 0.992.35within the sector's middle half▼ 0.612.36within the sector's middle half▲ 0.012.29within the sector's middle half▼ 0.072.40within the sector's middle half▲ 0.11
Return on assets (ROA)27.6%above the sector's middle half▲ 27.8pp-5.7%below the sector's middle half▼ 33.2pp8.0%within the sector's middle half▲ 13.7pp-15.1%below the sector's middle half▼ 23.1pp6.6%within the sector's middle half▲ 21.7pp
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.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €22,129 after a loss of €24,507 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €221,702
Fixed assets
€3,310 ▼ 2.9%
Current assets
€218,392 ▲ 9.8%
Equity and liabilities €221,702
Equity
€130,077 ▲ 12.7%
Debt
€91,624 ▲ 5.3%
Debt's share of the balance-sheet total falls from 43.0% to 41.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€22,228▲
2023 · -€24,409
Cash flow
€14,774▲
2023 · -€30,448
Debt to equity
0.70▼
2023 · 0.75
ROE
11.3%▲
2023 · -26.5%
Interest coverage
3.92▲
2023 · -4.18
Debt ≤ 1 year
€91,092▲
2023 · €86,984
Income taxes
€2,309▲
2023 · €203
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,975 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 26,975 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €96 | €96 | €96 | €98 | €99 | ▲ 0.9% |
| Other operating charges640/8 | - | €530 | €30 | €2,920 | €32 | ▼ 98.9% |
| Gross operating margin9900 | €92,407 | -€7,752 | €28,645 | -€21,489 | €22,260 | ▲ 204% |
| Operating profit (loss)9901 | €88,253 | -€8,377 | €28,519 | -€24,507 | €22,129 | ▲ 190% |
| Financial income75/76B | - | €1,339 | €0 | €0 | €524 | ▲ 873,650% |
| Recurring financial income75 | €1,929 | €1,339 | €0 | €0 | €524 | ▲ 873,650% |
| Financial charges65/66B | - | €5,796 | €4,604 | €5,836 | €5,669 | ▼ 2.9% |
| Recurring financial charges65 | €4,532 | €5,796 | €4,604 | €5,836 | €5,669 | ▼ 2.9% |
| Profit (loss) for the period before taxes9903 | €85,651 | -€12,834 | €23,915 | -€30,343 | €16,984 | ▲ 156% |
| Income taxes67/77 | €19,449 | €204 | €3,847 | €203 | €2,309 | ▲ 1,036% |
| Profit (loss) for the period9904 | €66,202 | -€13,039 | €20,068 | -€30,546 | €14,676 | ▲ 148% |
| Profit (loss) for the period to be appropriated9905 | €66,202 | -€13,039 | €20,068 | -€30,546 | €14,676 | ▲ 148% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €240,083 | €230,429 | €250,849 | €202,386 | €221,702 | ▲ 9.5% |
| Fixed assets21/28 | €3,659 | €3,563 | €3,467 | €3,409 | €3,310 | ▼ 2.9% |
| Tangible fixed assets22/27 | €3,559 | €3,463 | €3,367 | €3,309 | €3,210 | ▼ 3.0% |
| Land and buildings22 | - | €3,463 | €3,367 | €3,309 | €3,210 | ▼ 3.0% |
| Financial fixed assets28 | €100 | €100 | €100 | €100 | €100 | = |
| Current assets29/58 | €236,424 | €226,866 | €247,382 | €198,977 | €218,392 | ▲ 9.8% |
| Amounts receivable within one year40/41 | €234,487 | €226,853 | €247,374 | €198,959 | €218,307 | ▲ 9.7% |
| Trade receivables40 | - | €136,841 | €189,565 | €198,230 | €198,245 | = |
| Other amounts receivable41 | - | €90,013 | €57,809 | €729 | €20,062 | ▲ 2,653% |
| Cash at bank and in hand54/58 | €8 | €13 | €7 | €19 | €85 | ▲ 354% |
| Deferred charges and accrued income490/1 | - | €0 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €240,083 | €230,429 | €250,849 | €202,386 | €221,702 | ▲ 9.5% |
| Equity10/15 | €138,918 | €125,880 | €145,948 | €115,402 | €130,077 | ▲ 12.7% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €130,858 | €117,820 | €137,888 | €107,342 | €122,017 | ▲ 13.7% |
| Amounts payable17/49 | €101,165 | €104,550 | €104,901 | €86,984 | €91,624 | ▲ 5.3% |
| Amounts payable after more than one year17 | €21,270 | €7,878 | €0 | - | - | - |
| Financial debts170/4 | - | €7,878 | €0 | - | - | - |
| Amounts payable within one year42/48 | €79,895 | €96,672 | €104,901 | €86,984 | €91,092 | ▲ 4.7% |
| Current portion of amounts payable after more than one year42 | - | €13,392 | €7,878 | €0 | - | - |
| Financial debts43 | - | €11,128 | €21,819 | €18,435 | €11,449 | ▼ 37.9% |
| Credit institutions430/8 | - | €11,128 | €21,819 | €18,435 | €11,449 | ▼ 37.9% |
| Trade debts44 | €2,926 | €31,032 | €33,110 | €36,509 | €54,587 | ▲ 49.5% |
| Suppliers440/4 | - | €31,032 | €33,110 | €36,509 | €54,587 | ▲ 49.5% |
| Taxes, remuneration and social security45 | - | €41,120 | €42,094 | €18,246 | €19,842 | ▲ 8.7% |
| Taxes450/3 | - | €41,120 | €42,094 | €18,246 | €19,842 | ▲ 8.7% |
| Other amounts payable47/48 | - | - | - | €13,794 | €5,214 | ▼ 62.2% |
| Accrued charges and deferred income492/3 | - | - | - | - | €532 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €66,202 | -€13,039 | €20,068 | -€30,546 | €14,676 | ▲ 148% |
| + Depreciation and write-downs630 | €96 | €96 | €96 | €98 | €99 | ▲ 0.9% |
| Operating cash flow (approximation) | €66,298 | -€12,943 | €20,164 | -€30,448 | €14,774 | ▲ 149% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€39 | €0 | ▲ 100% |
| Change in cash | - | €5 | -€6 | €11 | €66 | ▲ 479% |
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
2026
07-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 250 days late
2024
31-12
Financial
Back to profitnet €14,676
Net result €14,676 after one loss-making year.
26-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 57 days late
25-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 330 days late
2023
31-12
Financial
Weakest financial yearnet -€30,546
Net result drops to -€30,546, the lowest in the series; recovery starts the following year.
2022
31-12
Financial
Back to profitnet €20,068
Net result €20,068 after one loss-making year.
28-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 89 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Back to profitnet €66,202
Net result €66,202 after one loss-making year.
31-12
Financial
Equity above €100,000Eq €138,918 ▲91%
Equity rises from €72,716 to €138,918.
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
No directors read yet: 0 of 2 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Ans · 1 establishment unit since 2018
Ground area
745 m²
Building footprint
176 m²
Volume, LiDAR
1,688 m³
Parcel 62003A0469/00V000, Wallonia · tallest building 12.1 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
IF-THEN
since 20182.276.622.365
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62003A0469/00V000 | Wallonia | 745 m² | 1 · 176 m² | 12.1 m · 3 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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Of 82,601 companies in this sector we hold annual accounts for 52,629. 40,889 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company (pre-2019)
Founded12-04-2018
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
63100Computing infrastructure, data processing, hosting and related activities
68110Buying and selling of own real estate
68322Real estate appraisal on a fee or contract basis
70100Activities of head offices
73300Public relations and communication consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0694706575
Also
9925:BE0694706575
Registered
24-08-2026
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.