IGEFA
ActiveIGEFA has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €203k and a net result of €861. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 57% of 1282 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability2▼-98
Solvency30▲+5
Growth52▼-26
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity short (current ratio 0.08 against 0.28 in 2024), and 72.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
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
27.1%
Return on assets
0.1%
Age of the figures
11 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 55
Relative position
BE, all sectors
reference
Sector 55
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Growing equity
Equity grew over 2023-2025. Profits are largely retained rather than distributed.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €203k
neutral · Filed after the deadline
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 26-05-2026, 26 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
26 d late
2024
28 d late
2023
8 d late
2022
5 d late
2021
6 d late
2020
on the day
2019
27 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
12-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€203k▲ 0.4%
2024 · €203k
2019: €97k
2020: €84k
2021: €59k
2022: €69k
2023: €63k
2024: €203k
2019 → 2025
Total assets
€751k▼ 9.3%
2024 · €829k
2019: €949k
2020: €904k
2021: €900k
2022: €944k
2023: €894k
2024: €829k
2019 → 2025
Net result
€861▼ 99.4%
2024 · €140k
2019: €6k
2020: €-13k
2021: €-24k
2022: €9k
2023: €-6k
2024: €140k
2019 → 2025
Working capital
€-66k▲ 17.3%
2024 · €-80k
2019: €-35k
2020: €-37k
2021: €-41k
2022: €-72k
2023: €-87k
2024: €-80k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€59k-€69k▲ 15.8%€63k▼ 8.4%€203k▲ 223%€203k▲ 0.4%
Operating result€-9k-€24k€11k▼ 53.4%€191k▲ 1,625%€24k▼ 87.3%
Net result€-24k-€9k€-6k€140k€861▼ 99.4%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 87% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €751k
Fixed assets
€745k▼ 6.4%
Current assets
€6k▼ 82.3%
Equity and liabilities €751k
Equity
€203k▲ 0.4%
Debt
€548k▼ 12.5%
The debt ratio falls from 75.5% to 72.9%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€75k▼
2024 · €244k
Cash flow
€52k▼
2024 · €193k
Solvency
27.1%▲
2024 · 24.5%
Current ratio
0.08▼
2024 · 0.28
Quick ratio
0.08▼
2024 · 0.28
Debt / equity
2.69▼
2024 · 3.09
ROE
0.4%▼
2024 · 69.0%
ROA
0.1%▼
2024 · 16.9%
Interest coverage
3.68▼
2024 · 17.93
Debt
€548k▼
2024 · €626k
Debt ≤ 1 year
€72k▼
2024 · €112k
Debt > 1 year
€473k▼
2024 · €514k
Income taxes
€3k▼
2024 · €37k
Staff costs
€4
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€829k€751k▼
Fixed assets21/28€797k€745k▼
Tangible fixed assets22/27€797k€745k▼
Land and buildings22€774k€731k▼
Plant, machinery and equipment23€7k€5k▼
Furniture and vehicles24€15k€9k▼
Current assets29/58€32k€6k▼
Amounts receivable within one year40/41€5k€2k▼
Trade receivables40€4k€2k▼
Other amounts receivable41€988-
Current investments50/53€20k-
Cash at bank and in hand54/58€5k€3k▼
Deferred charges and accrued income490/1€1k€1k▲
Equity and liabilities
Total equity and liabilities10/49€829k€751k▼
Equity10/15€203k€203k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€117k€117k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€111k€111k=
Profit (loss) carried forward14€24k€24k▲
Amounts payable17/49€626k€548k▼
Amounts payable after more than one year17€514k€473k▼
Financial debts170/4€344k€314k▼
Other amounts payable178/9€170k€159k▼
Amounts payable within one year42/48€112k€72k▼
Current portion of amounts payable after more than one year42€49k€51k▲
Trade debts44€10k€10k▼
Suppliers440/4€10k€10k▼
Advances received on contracts in progress46€14k€4k▼
Taxes, remuneration and social security45€37k€6k▼
Taxes450/3€37k€6k▼
Other amounts payable47/48€1k-
Accrued charges and deferred income492/3-€3k
Income statement
Code20242025
Non-recurring operating income76A€247k-
Remuneration, social security and pensions62-€4
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€53k€51k▼
Other operating charges640/8€13k€19k▲
Non-recurring operating charges66A€40k-
Gross operating margin9900€297k€94k▼
Operating profit (loss)9901€191k€24k▼
Financial income75/76B-€0
Recurring financial income75-€0
Financial charges65/66B€14k€21k▲
Recurring financial charges65€14k€21k▲
Profit (loss) for the period before taxes9903€177k€4k▼
Income taxes67/77€37k€3k▼
Profit (loss) for the period9904€140k€861▼
Profit (loss) for the period to be appropriated9905€140k€861▼
Appropriation of the result
Profit (loss) to be appropriated9906€74k€24k▼
Profit (loss) brought forward from the previous period14P€-66k€24k▲
Transfer to equity691/2€50k-
To other reserves6921€50k-
The notes to these accounts (7 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
26-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 26 days late
2025
28-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
30-09
Financial
Back to profitnet €140k
Net result €140k after one loss-making year.
30-09
Financial
Equity above €200kEq €203k ▲223%
Equity rises from €63k to €203k.
08-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 8 days late
2023
05-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 5 days late
2022
30-09
Financial
Back to profitnet €9k
Net result €9k after 2 loss-making years.
06-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 6 days late
2021
30-09
Financial
Weakest financial yearnet €-24k
Net result drops to €-24k, the lowest in the series; recovery starts the following year.
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
27-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 27 days late
2018
29-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
26-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 26 days late
2016
26-05
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 26 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Malmedy · 1 establishment unit since 1991
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Arimont-Chemin de la Cense SN4960 Malmedy1 establishment unit
Arimont-Chemin de la Cense sn, 4960 Malmedy
since 19912.052.143.381
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Of 2,995 companies in sector 55203 we hold annual accounts for 687. 501 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded28-12-1990
Fiscal year end30-09
Activities, NACEBEL
55203Holiday cottages, homes and apartments
68201Renting and operating of own or leased residential real estate, excluding social housing
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 32 filings
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.