INDECO
ActiveSummary
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 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 20-06-2025, 41 days ahead of the deadline.
NBB · 10 filingsDeviation 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)
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
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
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
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| 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% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| 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% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| 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.
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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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
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
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
REGIONAL ECONOMIC & INNOVATION DYNAMICS CONSULTING
BE 0479.295.509
Ottignies-Louvain-la-Neuve · Eq €224,467
DDC Consulting
BE 0778.843.979
Brasschaat · Eq €224,457
Andrea Radu
BE 0789.996.308
Mechelen · Eq €224,471
LUC VERBORGT
BE 0451.099.785
Mechelen · Eq €224,473
DRIESCHENHOF
BE 0475.086.303
Voeren · Eq €224,444
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.