IfThenElse

Active Private limited companyfounded 2011active for 15 yearsRue des Noyers 40, 5000 NamurKBO/BCE: BE 0832.892.379

IfThenElse

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Overview

Lifetime

14 annual accounts with figures on one time axis

Compare with

peak €44,050 (2025)

€44,050▲ 175%

lowest -€8,246 (2017)

-€3,573▼ €7,884

peak €43,918 (2024)

€40,345▼ 8.1%

€66,856▼ 15.6%

peak 0 FTE (2023)

0 FTE

Board2 names since 2011

1 directorBazelaire Mathieu

Documentsfilings and deeds

23-04-20267 days before the deadline

2025financial year

Gross margin from €16,010 to €44,050Loss of €3,573Amendment of the articles · Legal-form change · Resignations… 28-05Debts from €79,237 to €66,856

Key points

from the 2025 annual accounts

Investments

€5,333 2.8 × depreciation

Green is investment, beige is depreciation.

Filings

14 annual accounts since 2012

The last five annual accounts were filed 1 to 8 days before the end of the period.

Position in the sector

€40,345

Less equity than 87% of companies in head offices and management consultancy. Sector median €1.1m · 3,873 companies.

Checked score

Excellent

Financially stronger than 27% of micro companies in head offices and management consultancy (NACE 70)

Probability in this band: under 0.55%

Bankruptcy probability within 12 months 0.1% Very low

0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.1% across 48,570 companies (NACE 70, micro).

About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 0.1% 01-2025: 0.1%● unchanged vs 12-2024 02-2025: 0.1%● unchanged vs 01-2025 03-2025: 0.1%● unchanged vs 02-2025 04-2025: 0.2%▲ +0.1 percentage points vs 03-2025highest value 05-2025: 0.1%▼ -0.1 percentage points vs 04-2025lowest value 06-2025: 0.1%● unchanged vs 05-2025lowest value 07-2025: 0.1%● unchanged vs 06-2025lowest value 08-2025: 0.1%● unchanged vs 07-2025lowest value 09-2025: 0.1%● unchanged vs 08-2025lowest value 10-2025: 0.1%● unchanged vs 09-2025lowest value 11-2025: 0.1%● unchanged vs 10-2025lowest value 12-2025: 0.1%● unchanged vs 11-2025lowest value 01-2026: 0.1%● unchanged vs 12-2025 02-2026: 0.1%● unchanged vs 01-2026 03-2026: 0.1%● unchanged vs 02-2026 04-2026: 0.2%▲ +0.1 percentage points vs 03-2026 05-2026: 0.1%▼ -0.1 percentage points vs 04-2026 06-2026: 0.1%● unchanged vs 05-2026 07-2026: 0.1%● unchanged vs 06-2026 08-2026: 0.1%● unchanged vs 07-2026 09-2026: 0.1%● unchanged vs 08-2026 10-2026: 0.1%● unchanged vs 09-2026 11-2026: 0.1%● unchanged vs 10-2026

Financial strength

Average

63+2equity 37.6% of total assets

30+4short-term debt 59.9% · cash 8.9%

65+4return on assets -3.3%

Score breakdown

raises risk

Loss of €3,573 (financial year 2025)

lowers risk

Sector: Activities of head offices; management consultancy activities (NACE 70)

Size: total assets €107,201

Figures for financial year 2025 (filed on 25-04-2026)

Calculation

The band follows from the bankruptcy probability. 10 more points roughly halve it.

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, micro). It does better than 36% of them on solvency, 13% on liquidity, 29% on profitability and 30% on growth.

The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

The probability rests on the annual accounts with balance sheet date 30-09-2025.

Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

Comparable companies, two years later

In July 2024, 6,908 companies had the same profile as IfThenElse has now. Each dot stands for 18 companies, two years later.

90.9%

were still trading

7.8%

stopped another way

1.1%

went bankrupt

Micro
10 to 20 years old
solvency 30% or more
a small loss

Another 0.2% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of IfThenElse itself: 0.1% within 12 months.

Test of the method

The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
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%	0.9%
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%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 6,908 companies, not a prediction for IfThenElse. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Credit verdict

Credit of up to €3,500 on 30-day terms is acceptable

Liquidity is tight, with a current ratio of 1.29 (0.95 in 2024), below the usual 1.5. Short-term debt is 59.9% and cash 8.9% of total assets. 62.4% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Five signals.

lowers riskraises riskneutral

Sector: Activities of head offices; management consultancy activities (NACE 70)

KBO

Size: total assets €107,201

Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.

NBB · annual accounts

Loss of €3,573 (financial year 2025)

NBB · annual accounts

Figures for financial year 2025 (filed on 25-04-2026)

NBB · annual accounts

Latest accounts filed on time

The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 23-04-2026, 7 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

7 days early

2024

8 days early

2023

5 days early

2022

2 days early

2021

1 day early

2020

on the day

2019

on the day

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 3 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 26 April (5 of the last 5 accounts filed within 30 days either side of that date).

Companies Code · seven months

Where today falls in the filing period

30-09-2026 year end08-11-2026 today30-04-2027 deadline

No strike-offs in the KBO publications

That holds for every publication since 2021.

KBO publications

Board and ownership

Bazelaire Mathieu

Director, since 17-01-2011

Shares in 2 companies, LA NICHE and superdog

Board & ownership

Recent changes

24-11-2025

Registered in the Peppol Directory Reachable for e-invoices through 0208:0832892379

28-05-2025

Amendment of the articles · Legal-form change · Resignations & appointments Appointments: BAZELAIRE Mathieu Jacques Paul (statutory director) and VAN GEHUCHTEN Sophie (alternate director) · General meeting of 23-05-2025 · Gazette deed

18-01-2011

Incorporation published on 20-01-2011 · Gazette deed

18-01-2011

First establishment Rue des Noyers 40, Namur

All 22 events

Comparable companies

same main activity, similar in size and age

Company
IfThenElse Namur	€107,201	€44,050	37.6%	0
DC FINANCE Antwerp	€105,027	€47,423	72.5%	0
OH SERVICES Woluwe-Saint-Pierre	€123,969	€43,874	67.5%	0.1
ACTYS Esneux	€128,032	€37,920	94.6%	0
LLK MANAGEMENT Brussels	€77,916	€41,942	67.8%	0
JAN NELLENS Ixelles	€151,941	€60,249	83.1%	0
DOMINIQUE HEIRMAN Sint-Niklaas	€127,380	€52,852	0.8%	0

These companies have the same main activity as IfThenElse: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €77,900 and €152,000, founded between 2007 and 2015.

Official details

Source: KBO

Status: Active since 18-01-2011Normal situation
Activity: Business and other management consultancyNACE 70200and 3 others
Establishment unit: 2.197.089.5905000 Namur, since 18-01-2011
Financial year end: 30 September
Peppol: Reachable since 24-11-2025

Company details

Annual accounts to 30-09-2025

: €44,050▲ 175%
: ≈ €110,000estimated
: €3,573
: €40,345▼ 8.1%
: €107,201▼ 13.0%
Filing: Filed on 23-04-2026, 7 days before the end of the filing period

Financials

Insights on IfThenElse

IfThenElse has existed since 2011. The gross margin grew from €13,858 in 2012 to €44,050 in 2025.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

full format, filed on 23-04-2026, 7 days before the deadline

€44,050

▲ 175%

€41,579

▲ 248%

€43,478

▲ 186%

-€1,675

▼ €9,210

37.6%

▲ 2.0 percentage points

1.29

▲ 0.33

The turnover shown is an estimate from the gross margin.

Turnover ≈ €110,000. Estimated: probably between €71,000 and €170,000.

Money flows

no detail for 2025

Balance sheet

balance sheet total €107,201 on 30-09-2025

What the company ownsHow it is paid for

in euro

Position in the sector

Compare with sector

37.6%

Higher than 36% of 3,873 companies in 2025.

1.29

Higher than 49% of 3,727 companies in 2025.

-3.3%

Higher than 13% of 3,849 companies in 2025.

IfThenElse Middle half of the sector 80% of the sector Full accounts in head offices and management consultancy (NACE 70)

Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half · Staff: bottom quarter

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Balance sheet: assets
`20/58`	107,201	123,155	126,714	101,908	78,113	68,938	43,642	31,691	42,313	30,215	35,695	26,854	44,094	46,704
`21/28`	24,412	51,531	52,650	53,976	49,171	49,876	18,701	18,622	21,671	17,663	17,530	3,529	3,211	830
`22/27`	7,562	4,681	5,800	7,126	2,321	3,026	1,851	1,772	4,821	813	680	479	161	780
`24`	7,562	4,681	5,800	7,126	2,321	3,026	1,851	1,772	4,821	813	680	479	161	780
`28`	16,850	46,850	46,850	46,850	46,850	46,850	16,850	16,850	16,850	16,850	16,850	3,050	3,050	50
`29/58`	82,788	71,623	74,065	47,933	28,941	19,063	24,940	13,070	20,641	12,552	18,165	23,325	40,883	45,874
`40/41`	72,189	62,341	64,319	47,656	21,054	14,520	21,105	12,730	19,705	9,650	16,348	12,305	39,740	45,213
`40`	69,656	62,341	64,319	47,656	21,054	14,520	20,824	12,035	19,701	9,650	9,650	1,975	25,136	33,880
`41`	2,534	-	-	-	-	-	281	695	4	-	6,698	10,330	14,604	11,333
`54/58`	9,490	8,022	8,473	0	6,906	3,711	164	-	168	56	614	11,020	241	115
`490/1`	1,109	1,260	1,272	277	982	831	3,672	340	769	2,846	1,203	-	902	547
Balance sheet: equity and liabilities
`10/49`	107,201	123,155	126,714	101,908	78,113	68,938	43,642	31,691	42,313	30,215	35,695	26,854	44,094	46,704
`10/15`	40,345	43,918	39,607	36,256	25,459	19,166	11,707	7,996	7,589	15,835	14,907	13,606	11,195	14,004
`10/11`	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500
`100`	-	-	-	-	-	18,550	18,550	18,550	18,550	18,550	18,550	18,550	18,550	18,550
`101`	-	-	-	-	-	5,050	5,050	5,050	5,050	5,050	5,050	5,050	5,050	5,050
`13`	27,900	27,900	23,700	20,400	9,650	1,300	1,050	1,050	1,050	1,050	1,000	400	400	400
`130/1`	0	1,300	1,300	1,300	1,300	1,300	-	-	-	-	-	-	-	-
`130`	-	-	-	-	-	1,300	1,050	1,050	1,050	1,050	1,000	400	400	400
`1311`	0	1,300	1,300	1,300	1,300	-	-	-	-	-	-	-	-	-
`133`	27,900	26,600	22,400	19,100	8,350	-	-	-	-	-	-	-	-	-
`14`	-1,055	2,518	2,407	2,356	2,309	4,366	-2,843	-6,554	-6,961	1,285	407	-294	-2,705	104
`17/49`	66,856	79,237	87,107	65,653	52,653	49,772	31,935	23,696	34,723	14,380	20,788	13,248	32,899	32,700
`17`	-	-	0	7,694	17,843	33,042	3,042	-	2,866	-	-	-	3,627	8,869
`170/4`	-	-	0	7,694	17,843	33,042	3,042	-	2,866	-	-	-	3,627	8,869
`42/48`	64,193	75,016	85,780	57,959	34,811	16,731	28,893	23,696	31,858	14,380	20,778	13,248	29,272	23,831
`42`	-	0	7,694	10,149	10,026	-	2,958	2,866	3,738	-	-	3,627	5,242	5,014
`43`	-	-	0	656	-	-	-	346	-	-	-	-	-	-
`430/8`	-	-	0	656	-	-	-	346	-	-	-	-	-	-
`44`	8,058	5,460	597	4,678	1,716	3,196	7,910	4,126	4,621	3,125	827	1,830	6,395	5,413
`440/4`	8,058	5,460	597	4,678	1,716	3,196	7,910	4,126	4,621	3,125	827	1,830	6,395	5,413
`45`	15,634	30,916	38,655	21,313	15,870	9,148	13,802	13,178	17,774	9,282	9,451	7,791	10,635	6,404
`450/3`	13,634	6,916	18,655	13,313	13,870	7,148	11,602	10,728	15,324	6,732	6,901	5,241	10,635	6,404
`454/9`	2,000	24,000	20,000	8,000	2,000	2,000	2,200	2,450	2,450	2,550	2,550	2,550	-	-
`47/48`	40,500	38,640	38,834	21,163	7,199	4,386	4,223	3,180	5,724	1,973	10,500	-	7,000	7,000
`492/3`	2,663	4,221	1,327	-	-	-	-	-	-	-	10	-	-	-
Income statement
`70`	-	-	-	-	-	-	-	-	-	-	93,190	92,504	81,274	-
`9900`	44,050	16,010	12,371	21,876	17,617	15,434	12,174	5,198	-875	4,822	2,032	8,529	1,198	13,858
`60/61`	-	-	-	-	-	-	-	-	-	-	98,420	91,011	85,550	-
`630`	1,898	3,225	3,183	2,294	1,191	1,365	1,864	1,343	3,830	608	460	401	619	1,083
`640/8`	572	827	863	780	704	688	815	986	1,726	623	807	740	962	1,043
`9901`	41,579	11,958	8,325	18,801	15,722	13,380	9,495	2,869	-6,431	3,591	765	7,388	-383	11,732
`75/76B`	0	-	-	0	0	-	-	-	-	40	13,801	-	-	2
`75`	0	-	-	0	0	-	-	-	-	40	13,801	-	-	2
`65/66B`	32,970	3,371	1,878	684	1,052	1,940	2,116	1,032	916	904	1,003	2,477	1,886	1,673
`65`	2,970	3,371	1,878	684	1,052	1,940	2,116	1,032	916	904	1,003	2,477	1,886	1,673
`66B`	30,000	-	-	-	-	-	-	-	-	-	-	-	-	-
`9903`	8,609	8,587	6,447	18,117	14,670	11,440	7,379	1,837	-7,347	2,727	13,563	4,911	-2,269	10,060
`67/77`	12,182	4,276	3,095	7,320	6,227	3,980	3,669	1,431	899	1,799	1,762	2,500	540	2,556
`9904`	-3,573	4,311	3,352	10,797	8,443	7,459	3,711	407	-8,246	928	11,801	2,411	-2,809	7,504
`9905`	-3,573	4,311	3,352	10,797	8,443	7,459	3,711	407	-8,246	928	11,801	2,411	-2,809	7,504
Appropriation of the result
`9906`	-1,055	6,718	5,707	13,106	12,809	4,616	-2,843	-6,554	-6,961	1,335	11,507	-294	-2,705	7,504
`14P`	2,518	2,407	2,356	2,309	4,366	-	-	-	-	-	-	-	-	-
`691/2`	0	4,200	3,300	10,750	8,350	250	-	-	-	50	600	-	-	400
`6920`	-	-	-	-	0	250	-	-	-	50	600	-	-	400
`6921`	0	4,200	3,300	10,750	8,350	-	-	-	-	-	-	-	-	-
`694/7`	-	-	-	0	2,150	-	-	-	-	-	10,500	-	-	7,000
`694`	-	-	-	0	2,150	-	-	-	-	-	10,500	-	-	-
`695`	-	-	-	-	-	-	-	-	-	-	-	-	-	7,000
Social balance sheet
`9087`	0	0	0	-	-	-	-	-	-	-	-	-	-	-
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

The notes to these accounts have 21 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2025 (PDF), filed on 23-04-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

Financial year	Type	Filed	Reference	Document
30-09-2025	full format	23-04-2026	2026-00087171	PDF
30-09-2024	full format	22-04-2025	2025-00076295	PDF
30-09-2023	full format	25-04-2024	2024-00073199	PDF
30-09-2022	micro format	28-04-2023	2023-00075503	PDF
30-09-2021	micro format	29-04-2022	2022-20016639	PDF
30-09-2020	micro format	30-04-2021	2021-12700454	PDF
30-09-2019	micro format	30-04-2020	2020-11800370	PDF
30-09-2018	micro format	29-04-2019	2019-11300362	PDF
30-09-2017	micro format	27-04-2018	2018-11300014	PDF
30-09-2016	full format	20-03-2017	2017-06700407	PDF
30-09-2015	full format	21-03-2016	2016-06900157	PDF
30-09-2014	full format	18-03-2015	2015-06800561	PDF
30-09-2013	full format	17-03-2014	2014-06600394	PDF
30-09-2012	full format	10-04-2013	2013-09000004	PDF

Key figures and ratios

per financial year, computed from the annual accounts

2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
43,478	15,182	11,508	21,095	16,913	14,745	11,359	4,212	-2,601	4,199	1,225	7,789	236	12,815
-1,675	7,535	6,534	13,091	9,635	8,825	5,575	1,750	-4,415	1,536	12,261	2,812	-2,190	8,587
5,333	2,106	1,857	7,099	487	32,540	1,943	841	7,839	741	17,460	719	3,000	1,913
1,468	-451	8,473	-6,906	3,194	3,548	-	-	112	-558	-10,406	10,779	126	-
18,595	-3,392	-11,715	-10,026	-5,869	2,332	-3,953	-10,626	-11,216	-1,828	-2,613	10,077	11,611	22,043
-	-	-	-	-	-	-	-	-	-	0.8%	8.0%	-0.5%	-
37.6%	35.7%	31.3%	35.6%	32.6%	27.8%	26.8%	25.2%	17.9%	52.4%	41.8%	50.7%	25.4%	30.0%
1.29	0.95	0.86	0.83	0.83	1.14	0.86	0.55	0.65	0.87	0.87	1.76	1.40	1.92
1.66	1.80	2.20	1.81	2.07	2.60	2.73	2.96	4.58	0.91	1.39	0.97	2.94	2.33
-8.9%	9.8%	8.5%	29.8%	33.2%	38.9%	31.7%	5.1%	-108.6%	5.9%	79.2%	17.7%	-25.1%	53.6%
-3.3%	3.5%	2.6%	10.6%	10.8%	10.8%	8.5%	1.3%	-19.5%	3.1%	33.1%	9.0%	-6.4%	16.1%
14.64	4.50	6.13	30.83	16.08	-	-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-	-	-	38 days	8 days	113 days	-
-	-	-	-	-	-	-	-	-	-	3 days	7 days	27 days	-

EBIT margin: not included in this filing.

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Investments

fixed assets acquired

Item	30-09-2025	30-09-2024	30-09-2023	30-09-2022	30-09-2021
Tangible fixed assets	€5,333	€2,106	€1,857	€7,099	€487
	€1,898	€3,225	€3,183	€2,294	€1,191

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on IfThenElse

The operating result for 2025 is nearly 3.5 times that of 2024 and the highest since 2012. It is the second rise in a row, after the fall in 2023.

Debt's share of the balance-sheet total falls from 64.3% to 62.4%. Equity and debt are lower.

Board & ownership

Board

1 director, last change in 2025

Bazelaire Mathieu

Statutory director

since 17-01-2011 term without a fixed end

listed in the 2025 annual accounts, filed on 23-04-2026

Office holders in the KBO →

Mandates through the years

2 names, the dashed line is today

Bazelaire Mathieu
Statutory director

VAN GEHUCHTEN Sophie
Alternate director

BoardEarlierend not dated

Mandates as a list

Bazelaire Mathieu
- Statutory director, from 17-01-2011 to date
VAN GEHUCHTEN Sophie
- Alternate director, appointed by deed of 28-05-2025, no longer listed in the 2025 annual accounts

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Contribution: €13,500
Source: 2025 annual accounts

Articles of association

deed of 28-05-2025 (in French)

Board rule: At least 1 director
“Avec ou sans limitation de durée,qualité d’administrateur statutaire possible, assemblée qui les nomme fixe nombre,durée et pouvoirs en cas…”
Kind of shares: 100 shares
Annual meeting: 15 March at 10:00

Network & group

Holdings

own accounts to 30-09-2025, the bar shows equity in euros

This companyIfThenElse2 holdings, 1 country accounts to 30-09-2025

Belgium 2 Equity Result

BE SUPERDOG1.72% €29,999 result -€42,632
BE LA NICHE2.62%no longer active -€1.2m result -€450,228

Source: list of holdings in its own 30-09-2025 accounts. Every holding stands with its own latest accounts.

Earlier ties

Union des Classes Moyennes de la Province de Namur

via Bazelaire Mathieu, no longer at Union des Classes Moyennes de la Province de Namur · Director · deed of 02-10-2020

founded in 1933

3.9 FTE (2025)

Holdings and subsidiaries

2 holdings

Share, source and own figures per holding (2)

Source for every holding own accounts 30-09-2025

LA NICHE
Equity -€1.2m Loss of €450,228 in 2025 (loss of €195,323 in 2024) Checked score 21

2.62%
superdog
Equity €29,999 Loss of €42,632 in 2025 (loss of €40,602 in 2024) Checked score 53

1.72%

Holdings through the years 2015 to 2025

Holdings through the years
Name	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
LA NICHE 2020: 3.2% 2021 to 2025: 2.62%						3.2%	2.62%
superdog 2015: 3.42% 2016 to 2017: 2% 2018 to 2020: 1.5% 2021 to 2025: 1.72%	3.42%	2%		1.5%			1.72%

Source: list of holdings in its own accounts

Board mandates elsewhere

3 board mandates

Board mandates of IfThenElseIfThenElse sits on their board3

superdog

Director

Founded in 2006 · total assets €587,210 (2025)

Alpiniche

Director

Founded in 2026

BAZELAIRE

Director

No longer active · total assets €340,441 (2025)

Connections & network

Depth

The network starts from the earlier ties.

This company Company Director Shareholding +N: links not shown yet

Timeline

22 events since 2011

Board

Filings

Financial

Establishments

20122014201620182020202220242026

Deadline for the 2026 accounts: 30-04-2027

2026

23-04-2026

Annual accounts 2025 filed PDFfull format · 7 days before the deadline

2025

24-11-2025

Registered in the Peppol Directory Reachable for e-invoices through 0208:0832892379

28-05-2025

Amendment of the articles · Legal-form change · Resignations & appointmentsAppointments: BAZELAIRE Mathieu Jacques Paul (statutory director) and VAN GEHUCHTEN Sophie (alternate director) · General meeting of 23-05-20255 points ▸

General meeting, 23-05-2025
Incorporation, 17-01-2011
Director appointment, BAZELAIRE Mathieu Jacques Paul (statutory director)
Registered office clause, rue des Noyers 40, 5000 Namur
Director appointment, VAN GEHUCHTEN Sophie (alternate director)
The deed holds 6 more points.

Open the deed in the Belgian Official Gazette

22-04-2025

Annual accounts 2024 filed PDFfull format · 8 days before the deadline

2024

25-04-2024

Annual accounts 2023 filed PDFfull format · 5 days before the deadline

2023

28-04-2023

Annual accounts 2022 filed PDFmicro format · 2 days before the deadline

2022

29-04-2022

Annual accounts 2021 filed PDFmicro format · 1 day before the deadline

2021

30-04-2021

Annual accounts 2020 filed PDFmicro format · on the deadline day

2020

30-04-2020

Annual accounts 2019 filed PDFmicro format · on the deadline day

2019

29-04-2019

Annual accounts 2018 filed PDFmicro format · 1 day before the deadline

2018

30-09-2018

Back to profit net €407 The net result is €407, after one loss-making year.

27-04-2018

Annual accounts 2017 filed PDFmicro format · 3 days before the deadline

2017

30-09-2017

Weakest financial year net -€8,246 The net result drops to -€8,246, the lowest from 2012 to 2025. It recovers the following year.

20-03-2017

Annual accounts 2016 filed PDFfull format · 41 days before the deadline

2016

21-03-2016

Annual accounts 2015 filed PDFfull format · 40 days before the deadline

2015

30-09-2015

Highest result from 2012 to 2025 net €11,801 ▲389% The net result of €11,801 is the highest of those years.

18-03-2015

Annual accounts 2014 filed PDFfull format · 43 days before the deadline

2014

30-09-2014

Back to profit net €2,411 The net result is €2,411, after one loss-making year.

17-03-2014

Annual accounts 2013 filed PDFfull format · 44 days before the deadline

2013

10-04-2013

Annual accounts 2012 filed PDFfull format · 20 days before the deadline

2011

18-01-2011

Incorporation PDFpublished on 20-01-2011

18-01-2011

First establishment Rue des Noyers 40, Namur

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official Gazette Filings with the National Bank

History

IfThenElse was incorporated on 18 January 2011.¹ Total assets rose from €43,642 in 2019 to €107,201 in 2025.²

Company details

Identity

Enterprise number: 0832.892.379
VAT number: BE 0832.892.379
Peppol ID: 0208:0832892379
Legal form: Private limited company
Status: Active, normal situation
Founded: 18-01-2011
Financial year: ends on 30 September
Annual meeting: 15 March at 10:00
deed of 28-05-2025 (in French)
Peppol: Reachable since 24-11-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name: IfThenElse in French
Entity type: Legal entity

Activities

NACEBEL 2025

70200 Business and other management consultancy main activity

62100 Computer programming

62200 Computer consultancy and computer facilities management

62900 Other information technology and computer services

Codes under NACEBEL 2008

70220 Business consulting main activity

62010 Computer programming, consultancy and related activities

62020 IT consultancy

62090 Computer programming, consultancy and related activities

Purpose: “L’exercice de fonctions ou de mandats d'administrateur,de gérant,de liquidateur de toute personne morale,quelle qu’en soit la…”
11 activities
L’exercice de fonctions ou de mandats d'administrateur,de gérant,de liquidateur de toute personne morale,quelle qu’en soit la qualification,en qualité d’organe ou non,sans exception
La prise de participation sous quelque forme que ce soit,dans toutes sociétés,associations,établissements existants ou à créer,ayant des activités industrielles,financières,immobilières,économiques
La gestion et la valorisation de ces participations,notamment par la stimulation,la planification et la coordination du développement des sociétés,associations,établissements dans lesquels elle détient une participation
L'achat,la vente,la cession et l'échange,à titre personnel ou fiduciaire,seul ou en association,avec ou sans démembrement,de toutes valeurs mobilières,actions,parts,obligations,fonds d'état,et de tous droits mobiliers et immobiliers
La réalisation de toutes études en faveurs de tiers notamment des sociétés,associations,établissements dans lesquels elle détient,directement ou indirectement,une participation,et l’exécution de toute assistance technique,administrative et financière
L’octroi de tous prêts,avances et garanties personnelles ou réelles,ainsi que la réalisation de toutes opérations financières
Le commerce et la représentation sous toutes les formes et plus particulièrement l'achat,la vente,l'importation et l'exportation de toutes matières,produits et marchandises,machines,appareils et outillages
L'achat et la vente d'œuvres d'arts et d'objets de collection
L’organisation de toutes manifestations ou évènements
La prestation de services dans un des domaines énoncés ci-avant
Et la consultance en général et plus particulièrement en matière de gestion,de restructuration de méthodologie,d'informatique et d'applications techniques
deed of 28-05-2025 (in French)

Registered office and establishments

1 establishment

Establishment	Since	Unit number
Rue des Noyers 40 registered office 5000 Namur	18-01-2011	2.197.089.590

Buildings and parcels at the address

Ground area: 947 m²
Buildings: 162 m²
Volume, LiDAR: 858 m³
Tallest building: 7.1 m

Buildings to scale, each on its own parcel

registered office establishment The establishment unit on the map

Parcels

Cadastral parcel	Area	Buildings	Height / floors
92302G0351/00K000	946 m²	1 · 162 m²	7.1 m · 2

Contact

E-mail mathieu@ifthenelse.be establishment in Namur

Overview

Lifetime

Key points

Investments

Filings

Position in the sector

Checked score

Score breakdown

Comparable companies, two years later

Credit verdict

Signals

Board and ownership

Recent changes

Comparable companies

Official details

Annual accounts to 30-09-2025

Insights on IfThenElse

Financials

Annual accounts 2025

Money flows

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency37.6%

Current ratio1.29

Return on assets-3.3%

Filed annual accounts

Filings

Key figures and ratios

Investments

Insights on IfThenElse

Board & ownership

Board

Mandates through the years

Control

Capital

Articles of association

Network & group

Holdings

Belgium 2 Equity Result

Earlier ties

Holdings and subsidiaries

Holdings 2

Board mandates elsewhere

Connections & network

Timeline

Timeline

History

Company details

Identity

Activities

Registered office and establishments

Buildings and parcels at the address

Location

Parcels

Contact

in euro

in euro

37.6%

1.29

-3.3%