ILUSA
ActiveSummary
ILUSA has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €9.1m and a net result of €12.3m. Equity is growing by ~99.7% per year across the filed fiscal years. Its solvency ranks better than 72% of 4610 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability73▲+40
Solvency99▲+17
Growth85▲+7
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity ample (current ratio 3.43 against 1.39 in 2023; short-term debt: 26.2% and cash: 4.2% of total assets), and 26.2% 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 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 · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
73.8%
Return on assets
99.4%
Age of the figures
21 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-07-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
on the day
2023
50 d early
2022
31 d late
2021
95 d early
2020
75 d early
2019
30 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 37 days before 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, full schema
Turnover
€83,223▲ 1,485%
2023 · €5,250
EBIT margin
9.6%▲ 2524.8pp
2023 · -2515.2%
Net result
€12.3m▲ 161%
2023 · €4.7m
Working capital
€7.9m▲ 891%
2023 · €794,198
Trend over the years
Click a name to add, emphasise or remove a line.Band: 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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€5,250€83,223▲ 1,485%
Operating result-€17,799▲ 21.5%-€7,361▲ 58.6%-€17,103▼ 132%-€132,048▼ 672%€7,977
Net result€5.1mabove the sector's middle half€166,390within the sector's middle half▼ 96.7%€1.1mabove the sector's middle half▲ 541%€4.7mabove the sector's middle half▲ 340%€12.3mabove the sector's middle half▲ 161%
EBIT margin-2515.2%9.6%▲ 2524.8pp
Equity€4.2mabove the sector's middle half▲ 13,048%€2.5mwithin the sector's middle half▼ 41.2%€2.5mwithin the sector's middle half▲ 0.3%€2.7mwithin the sector's middle half▲ 9.7%€9.1mabove the sector's middle half▲ 234%
Total assets€5.8mabove the sector's middle half▲ 7,999%€5.0mwithin the sector's middle half▼ 12.6%€2.5mwithin the sector's middle half▼ 49.6%€4.8mwithin the sector's middle half▲ 88.4%€12.3mabove the sector's middle half▲ 158%
Debt€1.6m▲ 3,871%€2.6m▲ 64.7%€53,732▼ 97.9%€2.1m▲ 3,726%€3.2m▲ 57.3%
Working capital-€1.5m-€2.0m▼ 29.2%€209,212€794,198▲ 280%€7.9m▲ 891%
Solvency73.0%within the sector's middle half▲ 28.0pp49.2%within the sector's middle half▼ 23.9pp97.9%above the sector's middle half▲ 48.7pp57.0%within the sector's middle half▼ 40.9pp73.8%within the sector's middle half▲ 16.8pp
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 returns to profit in 2024: €7,977 after a loss of €132,048 in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €12.3m
Fixed assets
€1.2m ▼ 36.2%
Current assets
€11.1m ▲ 290%
Equity and liabilities €12.3m
Equity
€9.1m ▲ 234%
Debt
€3.2m ▲ 57.3%
Debt's share of the balance-sheet total falls from 43.0% to 26.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€23,017▲
2023 · -€103,243
Cash flow
€12.3m▲
2023 · €4.7m
Current ratio
3.43▲
2023 · 1.39
Debt to equity
0.36▼
2023 · 0.75
ROE
134.8%▼
2023 · 172.2%
ROA
99.4%▲
2023 · 98.1%
Interest coverage
1.11▲
2023 · -13.85
Debt ≤ 1 year
€3.2m▲
2023 · €2.1m
Income taxes
€1.7m▲
2023 · €532,881
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 545 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Medium-sized
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.2%
stopped otherwise
95%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,058 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% | 1.6% |
| 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 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 545 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 |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €5,250 | €83,223 | ▲ 1,485% |
| Goods, raw materials, services and sundry goods60/61 | - | €6,923 | €11,152 | €109,763 | €185,684 | ▲ 69.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,137 | €2,540 | €13,334 | €28,805 | €15,040 | ▼ 47.8% |
| Other operating charges640/8 | - | €31,911 | €22,274 | €1,865 | €77,176 | ▲ 4,039% |
| Gross operating margin9900 | €13,956 | €27,090 | €18,504 | -€101,378 | €100,193 | ▲ 199% |
| Operating profit (loss)9901 | -€17,799 | -€7,361 | -€17,103 | -€132,048 | €7,977 | ▲ 106% |
| Financial income75/76B | - | €241,459 | €1.4m | €5.4m | €14.0m | ▲ 161% |
| Recurring financial income75 | - | €241,459 | €1.4m | €1.1m | €4.3m | ▲ 282% |
| Non-recurring financial income76B | - | - | - | €4.2m | €9.7m | ▲ 129% |
| Financial charges65/66B | - | €10,493 | €7,887 | €7,457 | €20,685 | ▲ 177% |
| Recurring financial charges65 | €98 | €10,493 | €7,887 | €7,457 | €20,685 | ▲ 177% |
| Profit (loss) for the period before taxes9903 | €5.7m | €223,605 | €1.4m | €5.2m | €14.0m | ▲ 168% |
| Income taxes67/77 | €601,984 | €57,215 | €355,812 | €532,881 | €1.7m | ▲ 224% |
| Profit (loss) for the period9904 | €5.1m | €166,390 | €1.1m | €4.7m | €12.3m | ▲ 161% |
| Profit (loss) for the period to be appropriated9905 | €5.1m | €166,390 | €1.1m | €4.7m | €12.3m | ▲ 161% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.8m | €5.0m | €2.5m | €4.8m | €12.3m | ▲ 158% |
| Formation expenses20 | €0 | €0 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €5.7m | €4.5m | €2.3m | €1.9m | €1.2m | ▼ 36.2% |
| Tangible fixed assets22/27 | €11,291 | €8,751 | €74,220 | €45,415 | €8,498 | ▼ 81.3% |
| Furniture and vehicles24 | - | €8,751 | €74,220 | €45,415 | €8,498 | ▼ 81.3% |
| Financial fixed assets28 | €5.7m | €4.5m | €2.3m | €1.9m | €1.2m | ▼ 35.2% |
| Current assets29/58 | €42,979 | €556,731 | €212,944 | €2.9m | €11.1m | ▲ 290% |
| Amounts receivable after more than one year29 | - | - | - | - | €350,000 | - |
| Other amounts receivable291 | - | - | - | - | €350,000 | - |
| Amounts receivable within one year40/41 | €16,275 | €15,424 | €43,747 | €184,467 | €607,613 | ▲ 229% |
| Trade receivables40 | - | €15,424 | €30,806 | €12,503 | €33,018 | ▲ 164% |
| Other amounts receivable41 | - | €0 | €12,941 | €171,964 | €574,595 | ▲ 234% |
| Current investments50/53 | - | - | - | €2.5m | €9.6m | ▲ 293% |
| Cash at bank and in hand54/58 | €26,705 | €541,308 | €169,197 | €184,715 | €517,712 | ▲ 180% |
| Deferred charges and accrued income490/1 | - | - | - | €31,064 | €2,954 | ▼ 90.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.8m | €5.0m | €2.5m | €4.8m | €12.3m | ▲ 158% |
| Equity10/15 | €4.2m | €2.5m | €2.5m | €2.7m | €9.1m | ▲ 234% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €12,929 | €12,929 | €12,929 | €12,929 | €12,929 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €0 | - | - |
| Tax-exempt reserves132 | - | €11,069 | €11,069 | €11,069 | €11,069 | = |
| Distributable reserves133 | - | - | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €4.2m | €2.4m | €2.5m | €2.7m | €9.1m | ▲ 237% |
| Amounts payable17/49 | €1.6m | €2.6m | €53,732 | €2.1m | €3.2m | ▲ 57.3% |
| Amounts payable after more than one year17 | - | €50,000 | €50,000 | €0 | - | - |
| Other amounts payable178/9 | - | €50,000 | €50,000 | €0 | - | - |
| Amounts payable within one year42/48 | €1.6m | €2.5m | €3,732 | €2.1m | €3.2m | ▲ 57.3% |
| Financial debts43 | - | €0 | €0 | €118 | €0 | ▼ 100% |
| Credit institutions430/8 | - | €0 | €0 | €118 | €0 | ▼ 100% |
| Trade debts44 | €17,073 | €2,970 | €938 | €53,232 | €31,975 | ▼ 39.9% |
| Suppliers440/4 | - | €2,970 | €938 | €53,232 | €31,975 | ▼ 39.9% |
| Taxes, remuneration and social security45 | - | €604,476 | €0 | €0 | €0 | - |
| Taxes450/3 | - | €604,476 | €0 | €0 | €0 | - |
| Other amounts payable47/48 | - | €1.9m | €2,794 | €2.0m | €3.2m | ▲ 59.9% |
| Accrued charges and deferred income492/3 | - | - | - | - | €371 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5.1m | €166,390 | €1.1m | €4.7m | €12.3m | ▲ 161% |
| + Depreciation and write-downs630 | €2,137 | €2,540 | €13,334 | €28,805 | €15,040 | ▼ 47.8% |
| Operating cash flow (approximation) | €5.1m | €168,930 | €1.1m | €4.7m | €12.3m | ▲ 160% |
| Investment in fixed assets (approximation) | - | €1.2m | €2.1m | €364,750 | €684,738 | ▲ 87.7% |
| Change in cash | - | €514,603 | -€372,111 | €15,518 | €332,997 | ▲ 2,046% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €12.3m ▲161%
Net result €12.3m, the highest in the series.
31-12
Financial
Liquidity doublescurrent ratio 3.43
Current ratio from 1.39 to 3.43.
31-12
Financial
Equity above €5mEq €9.1m ▲234%
5 profitable years in a row build equity to €9.1m.
11-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
31-12
Financial
Liquidity times 257current ratio 57.06
Current ratio from 0.22 to 57.06; short-term debt falls from €2.5m to €3,732.
27-04
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
17-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €5.1m
Net result €5.1m after one loss-making year.
31-12
Financial
Equity above €2mEq €4.2m ▲13,048%
Equity rises from €32,010 to €4.2m.
01-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2019
31-12
Financial
Weakest financial yearnet -€22,762
Net result drops to -€22,762, the lowest in the series; recovery starts the following year.
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
16-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 16 days late
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 22 days late
2016
28-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 59 days late
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
2 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, Liège · 1 establishment unit since 2014
Ground area
1,024 m²
Building footprint
124 m²
Volume, LiDAR
1,060 m³
Parcel 62078A0431/00D027, Wallonia · tallest building 10.3 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
ILUSA
since 20142.231.785.304
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62078A0431/00D027 | Wallonia | 1,024 m² | 1 · 124 m² | 10.3 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 1
-
100%
According to the 2024 annual accounts of ILUSA and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
254900F5T79QLPVKWL74
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,589. 7,322 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
Founded21-05-2014
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0552855260
Also
9925:BE0552855260
Registered
06-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.