Indecobat
ActiveIndecobat has been active since 1975 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €316k and a net result of €325k. Equity remains stable across the filed fiscal years (±0.4% per year). Its solvency ranks better than 22% of 2029 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
62
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability94▼-6
Solvency47▼-2
Growth64▼-1
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €19k at 30 days acceptable
Liquidity tight (current ratio 1.44 against 1.51 in 2024; short-term debt: 65.9% and cash: 0.1% of total assets), and 78% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← 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
22%
Return on assets
22.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 2029 sector peers (2025).
NBB · sector comparisonPosition among 2029 sector peers
Solvency
better than 22%
← weakest
strongest →
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 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
20 d early
2023
19 d early
2022
24 d early
2021
26 d early
2020
52 d late
2019
53 d late
← 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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€2.14M▼ 3.3%
2024 · €2.22M
2018: €1.95M
2019: €2.70M
2020: €2.28M
2021: €2.06M
2022: €2.28M
2023: €2.00M
2024: €2.22M
2018 → 2025
EBIT margin
20.1%▼ 6.7pp
2024 · 26.8%
2018: 12.3%
2019: 43.2%
2020: 42.3%
2021: 37.1%
2022: 35.5%
2023: 16.6%
2024: 26.8%
2018 → 2025
Net result
€325k▼ 27.7%
2024 · €450k
2018: €168k
2019: €808k
2020: €721k
2021: €570k
2022: €602k
2023: €245k
2024: €450k
2018 → 2025
Working capital
€415k▲ 1.0%
2024 · €411k
2018: €495k
2019: €409k
2020: €394k
2021: €400k
2022: €388k
2023: €406k
2024: €411k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€2.06M-€2.28M▲ 10.3%€2.00M▼ 12.1%€2.22M▲ 10.7%€2.14M▼ 3.3%
Equity€312k-€313k▲ 0.5%€314k▲ 0.1%€316k▲ 0.7%€316k▲ 0.1%
Operating result€766k-€808k▲ 5.5%€333k▼ 58.7%€593k▲ 77.9%€430k▼ 27.5%
Net result€570k-€602k▲ 5.5%€245k▼ 59.2%€450k▲ 83.3%€325k▼ 27.7%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 28% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.44M
Fixed assets
€74k=
Current assets
€1.36M▲ 11.9%
Equity and liabilities €1.44M
Equity
€316k▲ 0.1%
Provisions
€173k▲ 2.4%
Debt
€947k▲ 17.4%
The debt ratio rises from 62.4% to 65.9%. Equity and debt are higher.
Key figures and ratios
Solvency
22.0%▼
2024 · 24.5%
Current ratio
1.44▼
2024 · 1.51
Quick ratio
1.44▼
2024 · 1.51
Debt / equity
2.99▲
2024 · 2.55
ROE
102.9%▼
2024 · 142.3%
ROA
22.6%▼
2024 · 34.8%
Debt
€947k▲
2024 · €806k
Debt ≤ 1 year
€947k▲
2024 · €806k
Income taxes
€113k▼
2024 · €154k
Staff costs
€1.45M▲
2024 · €1.39M
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€1.29M€1.44M▲
Fixed assets21/28€74k€74k=
Financial fixed assets28€74k€74k=
Other financial fixed assets284/8€74k€74k=
Amounts receivable and cash guarantees285/8€74k€74k=
Current assets29/58€1.22M€1.36M▲
Amounts receivable after more than one year29€5k€5k▲
Other amounts receivable291€5k€5k▲
Amounts receivable within one year40/41€538k€260k▼
Trade receivables40€441k€230k▼
Other amounts receivable41€97k€30k▼
Current investments50/53€669k€1.09M▲
Other investments51/53€669k€1.09M▲
Cash at bank and in hand54/58€500€780▲
Deferred charges and accrued income490/1€4k€3k▼
Equity and liabilities
Total equity and liabilities10/49€1.29M€1.44M▲
Equity10/15€316k€316k▲
Contributions10/11€107k€107k=
Capital10€107k€107k=
Issued capital100€107k€107k=
Reserves13€20k€20k=
Non-distributable reserves130/1€11k€11k=
Legal reserve130€11k€11k=
Tax-exempt reserves132€10k€10k=
Profit (loss) carried forward14€189k€189k▲
Provisions and deferred taxes16€169k€173k▲
Provisions for liabilities and charges160/5€169k€173k▲
Pensions and similar obligations160€146k€146k=
Other liabilities and charges164/5€23k€27k▲
Amounts payable17/49€806k€947k▲
Amounts payable within one year42/48€806k€947k▲
Trade debts44€222k€483k▲
Suppliers440/4€222k€483k▲
Taxes, remuneration and social security45€132k€132k▼
Taxes450/3€35k€40k▲
Remuneration and social security454/9€97k€92k▼
Other amounts payable47/48€452k€331k▼
Accrued charges and deferred income492/3€226-
Income statement
Code20242025
Operating income70/76A€2.23M€2.16M▼
Turnover70€2.22M€2.14M▼
Other operating income74€10k€19k▲
Non-recurring operating income76A-€413
Operating charges60/66A€1.63M€1.73M▲
Goods for resale, raw materials and consumables60€28-
Purchases600/8€28-
Services and other goods61€239k€282k▲
Remuneration, social security and pensions62€1.39M€1.45M▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€4k€4k▲
Operating profit (loss)9901€593k€430k▼
Financial income75/76B€11k€9k▼
Recurring financial income75€11k€9k▼
Income from current assets751€11k€9k▼
Financial charges65/66B€1k€1k▼
Recurring financial charges65€1k€1k▼
Other financial charges652/9€1k€1k▼
Profit (loss) for the period before taxes9903€603k€438k▼
Income taxes67/77€154k€113k▼
Taxes670/3€154k€113k▼
Profit (loss) for the period9904€450k€325k▼
Profit (loss) for the period to be appropriated9905€450k€325k▼
Appropriation of the result
Profit (loss) to be appropriated9906€636k€514k▼
Profit (loss) brought forward from the previous period14P€187k€189k▲
Profit to be distributed694/7€448k€325k▼
Return on contributions (dividend)694€448k€325k▼
Social balance
Average headcount (FTE)908729.327.5▼
The notes to these accounts (27 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
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
21-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 52 days late
2020
22-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 53 days late
2019
31-12
Financial
Highest result since 2018net €808k ▲381%
Operating result €1.17M, net result €808k, both a record.
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
04-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
13 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, Liège · 1 establishment unit since 2008
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.
Quai de Rome 894000 LiègeGround area
1.1 ha
Building footprint
3,118 m²
Volume, LiDAR
27,675 m³
2 parcels, Wallonia · tallest building 33.8 m, ±11 floors. Linked by address, not a title deed.
1 establishment unit
Parc Industriel 4, 4400 Flémalle
since 20082.225.236.220
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62412B0318/00L002 | Wallonia | 1.0 ha | 1 · 2,881 m² | 8.7 m · 3 fl. |
| 62814C0112/00A006 | Wallonia | 389 m² | 1 · 238 m² | 33.8 m · 11 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
1 categoryIndecobat SA15936
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SCHILDERWERKEN MAES
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PIETER DEROO
BE 0888.976.789
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A.S.M.S.
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DE MEYST DECOR
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Of 7,864 companies in sector 43341 we hold annual accounts for 2,662. 1,797 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded22-12-1975
Fiscal year end31-12
Activities, NACEBEL
43341Painting of buildings
45441
43320Joinery installation
45421
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesPhone:04 337 58 00
Phone:0497 203 699