IMPLS
ActiveSummary
The computed 12-month bankruptcy probability of IMPLS is 3.4% (moderate). The 2025 annual accounts show negative equity (-€19,137) and a net result of -€41,541. Equity has been shrinking by about 191% per year since 2023. Its solvency ranks better than 5% of 58 sector peers (NACE 17, financial year 2025). The company has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 29-03-2022 Normal situation
- Activity
- Manufacture of paper and paper products NACE 17210and 3 others
- Joint committee
- 200 Aanvullend Paritair Comité voor de bedienden · annual accounts 31-03-2024
- Establishment unit
- 2.329.663.945 9500 Geraardsbergen, since 29-03-2022
- Financial year end
- 31 March
- Peppol
- Reachable since 30-04-2025
Board and ownership
- DELIMANDirector · since 28-03-2022 · permanent representative Koen PEETERS
- NXT ConceptDirector · since 28-03-2022 · permanent representative VANPRAET Jan Willem
- QUICK-SET-GREEN80%2025 annual accounts of QUICK-SET-GREEN
- DELIMAN50%· score 9131-03-2024 annual accounts of DELIMAN
- NXT Concept50%· score 3930-06-2024 annual accounts of NXT Concept
Financial position
- Bankruptcy probabilitywithin 12 months
- 3.4%
- Gross margin
- €88,561
- ▲ 22×
- Turnover
- ≈ €240,000
- estimated
- Loss
- €41,541
- ▼ 55.9%
- Equity
- -€19,137
- Total assets
- €367,982
- ▲ 93.3%
- Employees on 31-03-2025
- 2
- =
- Negative equity on 31-03-2025
- 2026 accounts not filed, 3 days past the deadline
Score breakdownraises riskLiquidity: current ratio 0.57, cash €7, halvedFigures for financial year 2025 (filed on 05-11-2025)1 financial year not filed after the legal deadline; last filed accounts filed 5 days latelowers riskSize: total assets €367,982Show the evidence
Checked score
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 17, micro). It does better than 15% of them on solvency, 4% on liquidity, 11% on profitability and 1% on growth.
The bankruptcy probability was computed on 02-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 3 accounts on average 11 days after the deadline. In the sector (NACE 17), the median for financial year 2024 was 13 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (1)
Financials
Financials · financial year 2025, abbreviated format
2025 annual accounts filed 5 days after the deadline Filed on 5 November 2025, deadline 31 October 2025 (7 months after the close on 31 March 2025, Companies Code art. 3:10). Source: NBB, 2025-00562402.
Annual accounts 2025 filed on 05-11-2025 PDF all 3 filings
Every figure per financial year
The operating result for 2025 is a loss of €38,288, smaller than the loss of €91,534 in 2024.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Staff
| Item | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 2 | 2 | 2 |
| full-time | 2 | 2 | 2 |
| part-time | - | 0 | 0 |
| in full-time equivalents | 2 | 2 | 2 |
| Average over the year, in full-time equivalents | 1.6 | 2 | 2 |
| On a permanent contract | 2 | 2 | 2 |
| Joined | 2 | - | - |
| Left | 0 | - | - |
Source: social balance sheet in the 2023 to 2025 annual accounts
Investments
| Item | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|
| Tangible fixed assets | €35,000 | - | €146,550 |
| Intangible fixed assets | €35,000 | - | - |
| Financial fixed assets | - | - | €12,204 |
| Depreciation and write-downs of the year | €11,313 | €11,300 | €25,576 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €69,766 | €83,718 | €98,147 | ▲ 17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,313 | €11,300 | €25,576 | ▲ 126% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €25,058 | €0 | - | - |
| Other operating charges640/8 | €2,943 | €466 | €3,127 | ▲ 571% |
| Gross operating margin9900 | €78,452 | €3,950 | €88,561 | ▲ 22× |
| Operating profit (loss)9901 | -€30,628 | -€91,534 | -€38,288 | ▲ 58.2% |
| Financial income75/76B | €12 | €583 | €86 | ▼ 85.3% |
| Recurring financial income75 | €12 | €583 | €86 | ▼ 85.3% |
| Financial charges65/66B | €2,860 | €3,171 | €3,338 | ▲ 5.3% |
| Recurring financial charges65 | €2,860 | €3,171 | €3,338 | ▲ 5.3% |
| Profit (loss) for the period before taxes9903 | -€33,475 | -€94,121 | -€41,541 | ▲ 55.9% |
| Income taxes67/77 | - | - | €0 | - |
| Profit (loss) for the period9904 | -€33,475 | -€94,121 | -€41,541 | ▲ 55.9% |
| Profit (loss) for the period to be appropriated9905 | -€33,475 | -€94,121 | -€41,541 | ▲ 55.9% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €190,284 | €190,376 | €367,982 | ▲ 93.3% |
| Fixed assets21/28 | €58,687 | €47,387 | €180,565 | ▲ 281% |
| Intangible fixed assets21 | €31,496 | €27,996 | €24,496 | ▼ 12.5% |
| Tangible fixed assets22/27 | €27,191 | €19,391 | €143,866 | ▲ 642% |
| Plant, machinery and equipment23 | €23,193 | €17,393 | €143,866 | ▲ 727% |
| Furniture and vehicles24 | €3,998 | €1,998 | €0 | ▼ 100% |
| Financial fixed assets28 | - | - | €12,204 | - |
| Current assets29/58 | €131,596 | €142,989 | €187,416 | ▲ 31.1% |
| Stocks and contracts in progress3 | €31,682 | €41,800 | €52,810 | ▲ 26.3% |
| Stocks30/36 | €31,682 | €41,800 | €52,810 | ▲ 26.3% |
| Amounts receivable within one year40/41 | €77,383 | €81,176 | €132,756 | ▲ 63.5% |
| Trade receivables40 | €75,359 | €78,981 | €127,467 | ▲ 61.4% |
| Other amounts receivable41 | €2,023 | €2,195 | €5,289 | ▲ 141% |
| Cash at bank and in hand54/58 | €21,653 | €19,093 | €7 | ▼ 100.0% |
| Deferred charges and accrued income490/1 | €879 | €920 | €1,844 | ▲ 100% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €190,284 | €190,376 | €367,982 | ▲ 93.3% |
| Equity10/15 | €66,525 | €22,404 | -€19,137 | - |
| Contributions10/11 | €100,000 | €150,000 | €150,000 | = |
| Profit (loss) carried forward14 | -€33,475 | -€127,596 | -€169,137 | ▼ 32.6% |
| Amounts payable17/49 | €123,759 | €167,973 | €387,119 | ▲ 130% |
| Amounts payable after more than one year17 | €37,025 | €25,431 | €7,554 | ▼ 70.3% |
| Financial debts170/4 | €37,025 | €25,431 | €7,554 | ▼ 70.3% |
| Amounts payable within one year42/48 | €86,258 | €135,342 | €329,695 | ▲ 144% |
| Current portion of amounts payable after more than one year42 | €17,180 | €45,564 | €42,877 | ▼ 5.9% |
| Financial debts43 | - | - | €68,168 | - |
| Credit institutions430/8 | - | - | €68,168 | - |
| Trade debts44 | €38,864 | €59,827 | €80,182 | ▲ 34.0% |
| Suppliers440/4 | €38,864 | €59,827 | €80,182 | ▲ 34.0% |
| Taxes, remuneration and social security45 | €26,701 | €26,720 | €15,616 | ▼ 41.6% |
| Taxes450/3 | €14,702 | €13,017 | €0 | ▼ 100% |
| Remuneration and social security454/9 | €11,999 | €13,703 | €15,616 | ▲ 14.0% |
| Other amounts payable47/48 | €3,514 | €3,231 | €122,852 | ▲ 38× |
| Accrued charges and deferred income492/3 | €475 | €7,200 | €49,871 | ▲ 593% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€33,475 | -€94,121 | -€41,541 | ▲ 55.9% |
| + Depreciation and write-downs630 | €11,313 | €11,300 | €25,576 | ▲ 126% |
| Operating cash flow (approximation) | -€22,162 | -€82,821 | -€15,965 | ▲ 80.7% |
| Investment in fixed assets (approximation) | - | €0 | -€158,754 | - |
| Change in cash | - | -€2,559 | -€19,086 | ▼ 646% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 7,639 companies had the same profile as IMPLS has now. Two years later, 84.8% were still going and 8.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
Another 0.7% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of IMPLS itself: 3.4% within 12 months.
Test of the method
The method was tested on the 497,446 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.
| 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 7,639 companies, not a prediction for IMPLS. 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.
Board & ownership
Directors
Board 2
Permanent representatives 2
Owners and capital
Shareholders
3 ownersChain of control
- QUICK-SET-GREEN
- IMPLS
Owners 3
- QUICK-SET-GREENparentEquity €10.9m Profit of €599,978 in 2025 (profit of €250,170 in 2024)80%
- Equity €2.3m Profit of €8,212 in 2025 (loss of €59,380 in 2024) Checked score 9150%
- Equity €64,248 Profit of €93,404 in 2025 (profit of €11,337 in 2024) Checked score 3950%
Capital transactions
- QUICK-SET-GREEN 1,500 shares · in cash
- NXT Concept (BE 0770.414.679) 500 shares (50%) · €50,000
- DELIMAN (BE 0849.400.987) 500 shares (50%) · €50,000
- 31-03-2022 Incorporation · €100,000 · 1,000 shares
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| DELIMAN |
|
| NXT Concept |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “2, vergadering”
Articles of association, deed of 31-03-2022 (in Dutch)
Network & group
Companies at the same address
6 other companiesConnections & network
2 current directorsThe network starts from the directors of IMPLS. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
08-12
Gazette deed
Amendment of the articles · MiscellaneousShare issue · Capital contribution · Bank account8 points ▸
- General meeting, 29-11-2023
- Other provision, “afstand van verslagen artikel 5:121, geen aandelen worden uitgegeven tot vergoeding van een inbreng in natura” (deed in Dutch)
- Share issue, “op naam, zelfde soort als bestaande aandelen” (deed in Dutch)
- Other provision, “alle bestaande aandeelhouders hebben voorkeurrecht evenredig met aantal aandelen dat zij bezitten, voorkeurrecht bij uitgifte nieuwe aandelen” (deed in Dutch)
- Capital contribution
- Bank account, “vennootschap, BE80 0882 9620 7477” (deed in Dutch)
- Amendment of the articles, “Artikel 5” (deed in Dutch)
- Power of attorney
31-03
Gazette deed
IncorporationAppointments: NXT Concept (director) and DELIMAN (director) · Permanent representatives: VANPRAET Jan Willem and Koen PEETERS · Pre-incorporation commitments11 points ▸
- Director appointment, NXT Concept (director (not named in the articles))
- Director appointment, DELIMAN (director (not named in the articles))
- Permanent representative, VANPRAET Jan Willem
- Permanent representative, Koen PEETERS
- Pre-incorporation commitments, “takeover, alle verbintenissen,verplichtingen en activiteiten” (deed in Dutch)
- Founder, NXT Concept
- Founder, DELIMAN
- Founding capital, €100,000
- Director in office, VANPRAET Jan Willem (director (not named in the articles))
- Director in office, Koen PEETERS (statutory director)
- Bank account, 100000, EUR
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
IMPLS was incorporated on 29 March 2022 as a private limited company by NXT Concept and DELIMAN, with a starting capital of €100,000.12 The board currently has 2 members, 2 of whom have served since 2022.3 Total assets rose from €190,284 in 2023 to €367,982 in 2025 and headcount from 1.6 to 2 full-time equivalents.4
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44004C0062/00M000 | Flanders | 1,625 m² | 1 · 738 m² | 12.8 m · 2 |