Incopneu
ActiveIncopneu has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €231k and a net result of €44k. Equity is shrinking by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 95% of 9183 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
97
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability92▼-4
Solvency100=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €22k at 30 days acceptable
Liquidity ample (current ratio 36.96 against 26.16 in 2024; short-term debt: 1.8% and cash: 65.5% of total assets), and 1.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← 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 2025Solvency, return and age of the figures
Solvency
98.2%
Return on assets
18.9%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €231k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-06-2026, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2024
57 d early
2023
142 d early
2022
11 d early
2021
3 d early
2020
215 d late
2019
43 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€231k▲ 23.9%
2024 · €186k
2018: €265k
2019: €270k
2020: €275k
2021: €273k
2022: €207k
2023: €145k
2024: €186k
2018 → 2025
Total assets
€235k▲ 23.4%
2024 · €190k
2018: €267k
2019: €276k
2020: €281k
2021: €278k
2022: €322k
2023: €250k
2024: €190k
2018 → 2025
Net result
€44k▲ 7.5%
2024 · €41k
2018: €5k
2019: €5k
2020: €4k
2021: €-1k
2022: €34k
2023: €38k
2024: €41k
2018 → 2025
Working capital
€150k▲ 44.4%
2024 · €104k
2018: €189k
2019: €195k
2020: €185k
2021: €189k
2022: €121k
2023: €61k
2024: €104k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€273k-€207k▼ 24.2%€145k▼ 30.1%€186k▲ 28.6%€231k▲ 23.9%
Operating result€-840-€46k€51k▲ 11.3%€56k▲ 9.0%€60k▲ 7.1%
Net result€-1k-€34k€38k▲ 11.9%€41k▲ 9.7%€44k▲ 7.5%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 7% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €235k
Fixed assets
€80k▼ 2.1%
Current assets
€155k▲ 42.7%
Equity and liabilities €235k
Equity
€231k▲ 23.9%
Debt
€4k▲ 1.0%
The debt ratio falls from 2.2% to 1.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€62k▲
2024 · €58k
Cash flow
€46k▲
2024 · €43k
Solvency
98.2%▲
2024 · 97.8%
Current ratio
36.96▲
2024 · 26.16
Quick ratio
36.96▲
2024 · 26.16
Debt / equity
0.02▼
2024 · 0.02
ROE
19.3%▼
2024 · 22.2%
ROA
18.9%▼
2024 · 21.7%
Interest coverage
128.14▲
2024 · 93.35
Debt
€4k▲
2024 · €4k
Debt ≤ 1 year
€4k▲
2024 · €4k
Income taxes
€15k▲
2024 · €14k
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€190k€235k▲
Fixed assets21/28€82k€80k▼
Tangible fixed assets22/27€82k€80k▼
Land and buildings22€82k€80k▼
Current assets29/58€108k€155k▲
Amounts receivable within one year40/41-€675
Other amounts receivable41-€675
Cash at bank and in hand54/58€108k€154k▲
Equity and liabilities
Total equity and liabilities10/49€190k€235k▲
Equity10/15€186k€231k▲
Contributions10/11€132k€132k=
Capital10€132k€132k=
Issued capital100€132k€132k=
Reserves13€13k€13k=
Non-distributable reserves130/1€13k€13k=
Legal reserve130€13k€13k=
Profit (loss) carried forward14€42k€86k▲
Amounts payable17/49€4k€4k▲
Amounts payable within one year42/48€4k€4k▲
Trade debts44€2k€2k▼
Suppliers440/4€2k€2k▼
Taxes, remuneration and social security45€2k€2k▲
Taxes450/3€2k€2k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€2k=
Other operating charges640/8€4k€3k▼
Gross operating margin9900€61k€65k▲
Operating profit (loss)9901€56k€60k▲
Financial charges65/66B€617€480▼
Recurring financial charges65€617€480▼
Profit (loss) for the period before taxes9903€55k€59k▲
Income taxes67/77€14k€15k▲
Profit (loss) for the period9904€41k€44k▲
Profit (loss) for the period to be appropriated9905€41k€44k▲
Appropriation of the result
Profit (loss) to be appropriated9906€42k€86k▲
Profit (loss) brought forward from the previous period14P€270€42k▲
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
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €44k ▲7.5%
Operating result €60k, net result €44k, both a record.
31-12
Financial
Equity above €200kEq €231k ▲23.9%
4 profitable years in a row build equity to €231k.
04-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity times 17current ratio 26.16
Current ratio from 1.58 to 26.16; short-term debt falls from €105k to €4k.
31-12
Financial
Equity above €150kEq €186k ▲28.6%
3 profitable years in a row build equity to €186k.
11-03
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €34k
Net result €34k after one loss-making year.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
03-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 215 days late
2021
31-12
Financial
Weakest financial yearnet €-1k ▼124%
Net result drops to €-1k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity quadruplescurrent ratio 125.66
Current ratio from 31.39 to 125.66; short-term debt falls from €6k to €2k.
2020
18-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
09-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 9 days late
2017
25-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Ronse · 1 establishment unit since 1950
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.
Leuzesesteenweg 1079600 RonseGround area
772 m²
Building footprint
682 m²
Volume, LiDAR
5,937 m³
Parcel 45422D1152/00G002, Flanders · tallest building 10.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Incopneu
since 19502.010.457.038
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45422D1152/00G002 | Flanders | 772 m² | 1 · 682 m² | 10.6 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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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RP-ATH
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Of 12,023 companies in sector 68203 we hold annual accounts for 5,986. 4,309 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded01-01-1968
Fiscal year end31-12
Activities, NACEBEL
68203Renting and operating of own or leased non-residential real estate, excluding land
68201Renting and operating of own or leased residential real estate, excluding social housing
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.