INCOWIL
ActiveSummary
INCOWIL has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€75,689) and a net result of -€4,477. Equity is shrinking by ~16.5% per year across the filed fiscal years. Its solvency ranks better than 6% of 37969 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability66▼-3
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.12 against 0.11 in 2023; short-term debt: 131.4% and cash: 0.5% of total assets), and equity is negative.
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Signals
Six 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 →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-31.4%
Return on assets
-1.9%
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
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year -€75,689
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 19-09-2025, 50 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
not confirmed
2024
50 d late
2023
57 d late
2022
31 d late
2021
1 d late
2020
31 d late
2019
92 d late
← 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 44 days after 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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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Turnover
€0
2020 · €0
Total assets
€240,880▼ 4.8%
2023 · €253,105
Net result
-€4,477▼ 24,788%
2023 · -€18
Working capital
-€278,328▲ 3.7%
2023 · -€289,042
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€0€0
Operating result-€8,123-€11,256▼ 38.6%-€22,723▼ 102%€33-€4,416
Net result-€8,490below the sector's middle half-€11,465below the sector's middle half▼ 35.0%-€22,917below the sector's middle half▼ 99.9%-€18below the sector's middle half▲ 99.9%-€4,477below the sector's middle half▼ 24,788%
Equity-€40,067below the sector's middle half▼ 26.9%-€51,532below the sector's middle half▼ 28.6%-€74,449below the sector's middle half▼ 44.5%-€71,211below the sector's middle half▲ 4.3%-€75,689below the sector's middle half▼ 6.3%
Total assets€200,398within the sector's middle half▼ 4.8%€174,374within the sector's middle half▼ 13.0%€211,641within the sector's middle half▲ 21.4%€253,105within the sector's middle half▲ 19.6%€240,880within the sector's middle half▼ 4.8%
Debt€240,465▼ 0.7%€225,906▼ 6.1%€286,091▲ 26.6%€324,317▲ 13.4%€316,569▼ 2.4%
Working capital-€224,977below the sector's middle half▼ 1.1%-€223,943below the sector's middle half▲ 0.5%-€284,765below the sector's middle half▼ 27.2%-€289,042below the sector's middle half▼ 1.5%-€278,328below the sector's middle half▲ 3.7%
Solvency-20.0%below the sector's middle half▼ 5.0pp-29.6%below the sector's middle half▼ 9.6pp-35.2%below the sector's middle half▼ 5.6pp-28.1%below the sector's middle half▲ 7.0pp-31.4%below the sector's middle half▼ 3.3pp
Current ratio0.06below the sector's middle half▼ 0.020.01below the sector's middle half▼ 0.060.00below the sector's middle half▼ 0.010.11below the sector's middle half▲ 0.110.12below the sector's middle half▲ 0.01
Return on assets (ROA)-4.2%below the sector's middle half▼ 8.9pp-6.6%below the sector's middle half▼ 2.3pp-10.8%below the sector's middle half▼ 4.3pp0.0%below the sector's middle half▲ 10.8pp-1.9%below the sector's middle half▼ 1.9pp
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.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €4,416 after €33 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €240,880
Fixed assets
€202,639 ▼ 7.0%
Current assets
€38,241 ▲ 8.4%
Key figures and ratios
EBITDA
€10,776▼
2023 · €20,394
Cash flow
€10,714▼
2023 · €20,343
Quick ratio
0.10▲
2023 · 0.10
Debt to equity
-4.18▲
2023 · -4.55
Interest coverage
176.10▼
2023 · 399.56
Debt ≤ 1 year
€316,569▼
2023 · €324,317
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,338 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 90% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a small loss
2.5%
went bankrupt
5.6%
stopped otherwise
90%
still going
A further 1.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 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% | 1.7% |
| 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 75% 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 2,338 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 | €0 | €0 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,499 | €12,499 | €18,123 | €20,361 | €15,192 | ▼ 25.4% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | €0 | - | - | - |
| Other operating charges640/8 | - | €598 | €604 | €1,980 | €1,427 | ▼ 27.9% |
| Gross operating margin9900 | €4,959 | €1,841 | -€3,996 | €22,374 | €12,203 | ▼ 45.5% |
| Operating profit (loss)9901 | -€8,123 | -€11,256 | -€22,723 | €33 | -€4,416 | ▼ 13,462% |
| Financial income75/76B | - | €1 | €0 | - | - | - |
| Recurring financial income75 | €65 | €1 | €0 | - | - | - |
| Financial charges65/66B | - | €209 | €194 | €51 | €61 | ▲ 19.9% |
| Recurring financial charges65 | €433 | €209 | €194 | €51 | €61 | ▲ 19.9% |
| Profit (loss) for the period before taxes9903 | -€8,490 | -€11,465 | -€22,917 | -€18 | -€4,477 | ▼ 24,788% |
| Profit (loss) for the period9904 | -€8,490 | -€11,465 | -€22,917 | -€18 | -€4,477 | ▼ 24,788% |
| Profit (loss) for the period to be appropriated9905 | -€8,490 | -€11,465 | -€22,917 | -€18 | -€4,477 | ▼ 24,788% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €200,398 | €174,374 | €211,641 | €253,105 | €240,880 | ▼ 4.8% |
| Fixed assets21/28 | €184,910 | €172,411 | €210,966 | €217,831 | €202,639 | ▼ 7.0% |
| Intangible fixed assets21 | €13,601 | €9,068 | €0 | - | - | - |
| Tangible fixed assets22/27 | €171,308 | €163,343 | €210,966 | €217,831 | €202,639 | ▼ 7.0% |
| Land and buildings22 | - | €147,844 | €210,966 | €217,831 | €202,639 | ▼ 7.0% |
| Plant, machinery and equipment23 | - | €15,499 | €0 | €0 | - | - |
| Other tangible fixed assets26 | - | - | €0 | - | - | - |
| Current assets29/58 | €15,488 | €1,963 | €675 | €35,275 | €38,241 | ▲ 8.4% |
| Stocks and contracts in progress3 | - | - | - | €3,993 | €5,520 | ▲ 38.2% |
| Stocks30/36 | - | - | - | €3,993 | €5,520 | ▲ 38.2% |
| Amounts receivable within one year40/41 | €14,962 | €0 | €0 | €29,841 | €31,522 | ▲ 5.6% |
| Trade receivables40 | - | €0 | €0 | €29,841 | €31,522 | ▲ 5.6% |
| Other amounts receivable41 | - | - | - | €0 | €0 | - |
| Cash at bank and in hand54/58 | €526 | €241 | €675 | €1,340 | €1,093 | ▼ 18.4% |
| Deferred charges and accrued income490/1 | - | €1,722 | €0 | €100 | €106 | ▲ 6.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €200,398 | €174,374 | €211,641 | €253,105 | €240,880 | ▼ 4.8% |
| Equity10/15 | -€40,067 | -€51,532 | -€74,449 | -€71,211 | -€75,689 | ▼ 6.3% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€58,667 | -€70,132 | -€93,049 | -€89,811 | -€94,289 | ▼ 5.0% |
| Amounts payable17/49 | €240,465 | €225,906 | €286,091 | €324,317 | €316,569 | ▼ 2.4% |
| Amounts payable within one year42/48 | €240,465 | €225,906 | €285,441 | €324,317 | €316,569 | ▼ 2.4% |
| Trade debts44 | €69 | €479 | €6,635 | €35,628 | €7,755 | ▼ 78.2% |
| Suppliers440/4 | - | €479 | €6,635 | €35,628 | €7,755 | ▼ 78.2% |
| Other amounts payable47/48 | - | €225,427 | €278,805 | €288,689 | €308,814 | ▲ 7.0% |
| Accrued charges and deferred income492/3 | - | - | €650 | €0 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,490 | -€11,465 | -€22,917 | -€18 | -€4,477 | ▼ 24,788% |
| + Depreciation and write-downs630 | €12,499 | €12,499 | €18,123 | €20,361 | €15,192 | ▼ 25.4% |
| Operating cash flow (approximation) | €4,008 | €1,034 | -€4,794 | €20,343 | €10,714 | ▼ 47.3% |
| Investment in fixed assets (approximation) | - | €0 | -€56,678 | -€27,225 | €0 | ▲ 100% |
| Change in cash | - | -€285 | €434 | €665 | -€247 | ▼ 137% |
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
19-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 50 days late
2024
26-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 57 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Weakest financial yearnet -€22,917
Net result drops to -€22,917, the lowest in the series; recovery starts the following year.
01-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 1 day late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
2019
31-12
Financial
Highest result since 2018net €9,918 ▲6,096%
Operating result €10,127, net result €9,918, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
27-02
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 211 days late
2016
30-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Wanze · 1 establishment unit since 2009
Ground area
3,614 m²
Building footprint
271 m²
Volume, LiDAR
1,919 m³
2 parcels, Wallonia · tallest building 10.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
INCOWIL
since 20092.207.129.684
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 61070B0386/00C000 | Wallonia | 2,341 m² | 1 · 149 m² | 7.1 m · 2 fl. |
| 62052A0072/00R003 | Wallonia | 1,274 m² | 1 · 123 m² | 10.2 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded18-12-2008
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
46190Agents in non-specialised wholesale trade
66290Activities auxiliary to financial services and insurance activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0808540827
Also
9925:BE0808540827
Registered
09-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.