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INDECO

Active
Private limited companyfounded 200223 yrs activeBeatrijslaan 97, 3110 Rotselaar, BelgiumKBO/BCE: BE 0478.973.033
Summary

INDECO has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €224k and a net result of €72k. Equity is shrinking by ~3.4% per year across the filed fiscal years. Its solvency ranks better than 67% of 37953 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).

Checked score

Score 2024
Axes · tick = 2023
Profitability98▲+6
Solvency98▲+4
Growth58=
Track record100
Bankruptcy probability, 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €21k at 30 days acceptable
Liquidity ample (current ratio 2.99 against 2.41 in 2023; short-term debt: 27% and cash: 68.2% of total assets), and 27% of the assets are financed with debt.
Credit check for your own amount and term

Signals

Three signals. The signal on the left, the evidence on the right.
−lowers 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 · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 23 years 0 30 y
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 20-06-2025, 41 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
not confirmed
2024
41 d early
2023
36 d early
2022
41 d early
2021
33 d early
2020
33 d early
2019
42 d early
← before the deadline after the deadline →
Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Equity
€224k▲ 6.6%
2023 · €211k
2018: €276khighest in 7 years 2019: €261k▼ -5.3% vs 2018 2020: €184k▼ -29.7% vs 2019lowest in 7 years 2021: €215k▲ +16.8% vs 2020 2022: €224k▲ +4.4% vs 2021 2023: €211k▼ -6.0% vs 2022 2024: €224k▲ +6.6% vs 2023
2018 → 2024
Total assets
€308k▲ 0.4%
2023 · €306k
2018: €301k 2019: €264k▼ -12.4% vs 2018 2020: €233k▼ -11.9% vs 2019 2021: €222k▼ -4.6% vs 2020lowest in 7 years 2022: €273k▲ +23.0% vs 2021 2023: €306k▲ +12.3% vs 2022 2024: €308k▲ +0.4% vs 2023highest in 7 years
2018 → 2024
Net result
€72k▲ 26.2%
2023 · €57k
2018: €-4k 2019: €-15k▼ -263% vs 2018 2020: €-34k▼ -129% vs 2019lowest in 7 years 2021: €31k▲ +191% vs 2020 2022: €49k▲ +60.5% vs 2021 2023: €57k▲ +14.6% vs 2022 2024: €72k▲ +26.2% vs 2023highest in 7 years
2018 → 2024
Working capital
€166k▲ 23.0%
2023 · €135k
2018: €126k 2019: €150k▲ +18.4% vs 2018 2020: €119k▼ -20.8% vs 2019lowest in 7 years 2021: €171k▲ +44.3% vs 2020highest in 7 years 2022: €149k▼ -12.8% vs 2021 2023: €135k▼ -9.6% vs 2022 2024: €166k▲ +23.0% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise ▼ fall
Line20202021202220232024Trend
Equity€184k-€215k▲ 16.8%€224k▲ 4.4%€211k▼ 6.0%€224k▲ 6.6% 2020: €184klowest in 5 years 2021: €215k▲ +16.8% vs 2020 2022: €224k▲ +4.4% vs 2021 2023: €211k▼ -6.0% vs 2022 2024: €224k▲ +6.6% vs 2023highest in 5 years
Operating result€-31k-€31k€69k▲ 123%€78k▲ 12.9%€98k▲ 25.4% 2020: €-31klowest in 5 years 2021: €31k▲ +201% vs 2020 2022: €69k▲ +123% vs 2021 2023: €78k▲ +12.9% vs 2022 2024: €98k▲ +25.4% vs 2023highest in 5 years
Net result€-34k-€31k€49k▲ 60.5%€57k▲ 14.6%€72k▲ 26.2% 2020: €-34klowest in 5 years 2021: €31k▲ +191% vs 2020 2022: €49k▲ +60.5% vs 2021 2023: €57k▲ +14.6% vs 2022 2024: €72k▲ +26.2% vs 2023highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
€-50k€0€50k€100kOperating result 2020: €-31k€-31kNet result 2020: €-34k€-34kOperating result 2021: €31k€31kNet result 2021: €31k€31kOperating result 2022: €69k€69kNet result 2022: €49k€49kOperating result 2023: €78k€78kNet result 2023: €57k€57kOperating result 2024: €98k€98kNet result 2024: €72k€72k20202021202220232024€0€25k€50k€75k€100kOperating result 2022: €69k€69kNet result 2022: €49k€49kOperating result 2023: €78k€78kNet result 2023: €57k€57kOperating result 2024: €98k€98kNet result 2024: €72k€72k202220232024
The operating result has risen four years in a row; 2024 is 25% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €308k
Fixed assets €59k ▼ 22.5%
Current assets €249k ▲ 8.0%
Equity and liabilities €308k
Equity €224k ▲ 6.6%
Debt €83k ▼ 13.2%
Debt's share of the balance-sheet total falls from 31.3% to 27.0%. Equity is higher and debt is lower.
Key figures and ratios
2024 value · change against 2023
EBITDA
€117k▲
2023 · €114k
Cash flow
€90k▼
2023 · €92k
Current ratio
2.99▲
2023 · 2.41
Debt to equity
0.37▼
2023 · 0.46
ROE
31.9%▲
2023 · 26.9%
ROA
23.3%▲
2023 · 18.5%
Interest coverage
1590.24▼
2023 · 1752.89
Debt ≤ 1 year
€83k▼
2023 · €96k
Income taxes
€28k▲
2023 · €22k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 47 lines
Balance sheet Code20232024
Assets
Total assets20/58€306k€308k▲
Fixed assets21/28€76k€59k▼
Tangible fixed assets22/27€76k€59k▼
Land and buildings22€0-
Plant, machinery and equipment23€2k€894▼
Furniture and vehicles24€74k€58k▼
Financial fixed assets28€124€124=
Current assets29/58€231k€249k▲
Amounts receivable within one year40/41€29k€37k▲
Trade receivables40€29k€28k▼
Other amounts receivable41€0€9k▲
Cash at bank and in hand54/58€198k€210k▲
Deferred charges and accrued income490/1€3k€2k▼
Equity and liabilities
Total equity and liabilities10/49€306k€308k▲
Equity10/15€211k€224k▲
Contributions10/11€0-
Reserves13€164k€178k▲
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€164k€178k▲
Profit (loss) carried forward14€47k€47k=
Amounts payable17/49€96k€83k▼
Amounts payable within one year42/48€96k€83k▼
Trade debts44€5k€4k▼
Suppliers440/4€5k€4k▼
Taxes, remuneration and social security45€23k€22k▼
Taxes450/3€23k€22k▼
Other amounts payable47/48€68k€58k▼
Income statement Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€35k€19k▼
Other operating charges640/8€2k€3k▲
Gross operating margin9900€116k€120k▲
Operating profit (loss)9901€78k€98k▲
Financial income75/76B€556€1k▲
Recurring financial income75€556€1k▲
Financial charges65/66B€65€74▲
Recurring financial charges65€65€74▲
Profit (loss) for the period before taxes9903€79k€99k▲
Income taxes67/77€22k€28k▲
Profit (loss) for the period9904€57k€72k▲
Profit (loss) for the period to be appropriated9905€57k€72k▲
Appropriation of the result
Profit (loss) to be appropriated9906€103k€118k▲
Profit (loss) brought forward from the previous period14P€47k€47k=
Transfer from equity791/2€2k€58k▲
Transfer to equity691/2€57k€72k▲
To other reserves6921€57k€72k▲
Profit to be distributed694/7€2k€58k▲
Return on contributions (dividend)694€2k€58k▲

The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Accounts by statement
Line20202021202220232024Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€29k€22k€26k€35k€19k▼ 47.0%
Other operating charges640/8-€2k€2k€2k€3k▲ 39.4%
Non-recurring operating charges66A-€0----
Gross operating margin9900€239€54k€97k€116k€120k▲ 3.5%
Operating profit (loss)9901€-31k€31k€69k€78k€98k▲ 25.4%
Financial income75/76B-€0€0€556€1k▲ 95.9%
Recurring financial income75€0€0€0€556€1k▲ 95.9%
Financial charges65/66B-€67€64€65€74▲ 13.3%
Recurring financial charges65€67€67€64€65€74▲ 13.3%
Profit (loss) for the period before taxes9903€-31k€31k€69k€79k€99k▲ 25.9%
Income taxes67/77€3k€146€20k€22k€28k▲ 25.1%
Profit (loss) for the period9904€-34k€31k€49k€57k€72k▲ 26.2%
Transfer from tax-exempt reserves789-€0----
Profit (loss) for the period to be appropriated9905€-19k€31k€49k€57k€72k▲ 26.2%
Line20202021202220232024Change
Assets
Total assets20/58€233k€222k€273k€306k€308k▲ 0.4%
Fixed assets21/28€65k€44k€75k€76k€59k▼ 22.5%
Tangible fixed assets22/27€65k€43k€75k€76k€59k▼ 22.6%
Land and buildings22-€34k€17k€0--
Plant, machinery and equipment23-€8k€5k€2k€894▼ 48.5%
Furniture and vehicles24-€1k€53k€74k€58k▼ 21.9%
Financial fixed assets28€124€124€124€124€124=
Current assets29/58€168k€178k€198k€231k€249k▲ 8.0%
Amounts receivable within one year40/41€62k€13k€52k€29k€37k▲ 25.9%
Trade receivables40-€0€18k€29k€28k▼ 3.2%
Other amounts receivable41-€13k€34k€0€9k-
Cash at bank and in hand54/58€102k€163k€143k€198k€210k▲ 5.8%
Deferred charges and accrued income490/1-€2k€3k€3k€2k▼ 24.0%
Equity and liabilities
Total equity and liabilities10/49€233k€222k€273k€306k€308k▲ 0.4%
Equity10/15€184k€215k€224k€211k€224k▲ 6.6%
Contributions10/11-€68k€68k€0--
Reserves13€100k€100k€109k€164k€178k▲ 8.5%
Non-distributable reserves130/1-€2k€2k€0--
Reserves not available under the articles1311-€2k€2k€0--
Distributable reserves133-€98k€107k€164k€178k▲ 8.5%
Profit (loss) carried forward14€16k€47k€47k€47k€47k=
Amounts payable17/49€49k€7k€49k€96k€83k▼ 13.2%
Amounts payable within one year42/48€49k€7k€49k€96k€83k▼ 13.2%
Trade debts44€526€2k€2k€5k€4k▼ 30.1%
Suppliers440/4-€2k€2k€5k€4k▼ 30.1%
Taxes, remuneration and social security45-€6k€7k€23k€22k▼ 3.3%
Taxes450/3-€6k€7k€23k€22k▼ 3.3%
Other amounts payable47/48-€0€40k€68k€58k▼ 15.2%
Line20202021202220232024Change
Profit (loss) for the period9904€-34k€31k€49k€57k€72k▲ 26.2%
+ Depreciation and write-downs630€29k€22k€26k€35k€19k▼ 47.0%
Operating cash flow (approximation)€-5k€52k€75k€92k€90k▼ 2.0%
Investment in fixed assets (approximation)-€0€-57k€-36k€-2k▲ 95.3%
Change in cash-€61k€-20k€55k€11k▼ 79.1%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

2025
20-06
NBB filing Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial Highest result since 2018net €72k ▲26.2%
Operating result €98k, net result €72k, both a record.
25-06
NBB filing Annual accounts filed
fiscal year 2023 · micro schema
2023
20-06
NBB filing Annual accounts filed
fiscal year 2022 · micro schema
2022
28-06
NBB filing Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial Back to profitnet €31k
Net result €31k after 3 loss-making years.
31-12
Financial Liquidity times 7current ratio 24.12
Current ratio from 3.42 to 24.12; short-term debt falls from €49k to €7k.
31-12
Financial Equity above €200kEq €215k ▲16.8%
Equity rises from €184k to €215k.
28-06
NBB filing Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial Weakest financial yearnet €-34k
Net result drops to €-34k, the lowest in the series; recovery starts the following year.
19-06
NBB filing Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial Liquidity times 10current ratio 59.18
Current ratio from 6.03 to 59.18; short-term debt falls from €25k to €3k.
Show earlier events
24-06
NBB filing Annual accounts filed
fiscal year 2018 · micro schema
2018
20-06
NBB filing Annual accounts filed
fiscal year 2017 · micro schema
2017
29-06
NBB filing Annual accounts filed
fiscal year 2016 · micro schema
2016
22-08
NBB filing Annual accounts filed
fiscal year 2015 · abbreviated schema · 22 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts

We know of 3 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
3 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, Rotselaar · 1 establishment unit since 2003
seat establishment The establishment unit on the map
Ground area
2,788 m²
Building footprint
302 m²
Volume, LiDAR
1,548 m³
2 parcels, Flanders · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
2 companies at this address See who is registered here
1 establishment unit
Tervuursesteenweg 423, 3001 Leuven
NACE 7414101
since 20032.115.655.419
2 parcels
Flanders 2 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
24094E0181/00K006 Flanders 2,091 m² 1 · 164 m² 9.0 m · 2 fl.
24040B0144/00K000 Flanders 697 m² 1 · 138 m² 6.8 m · 1 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.

Similar companies · same sector, comparable size

Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 39,366 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
Founded09-12-2002
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
64210Activities of holding companies

Scores and ratios are computed by Checked and are not a credit decision.