Summary
INDEQS is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €5.9m and a net result of €884,960. Equity remains stable across the filed fiscal years (±0.2% per year). Its solvency ranks better than 66% of 6157 sector peers (fiscal year 2024). The company has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €5.9m
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-09-2025, 49 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
49 d late
2023
8 d late
2022
3 d late
2021
6 d early
2020
25 d early
2019
43 d early
← 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 2 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
In the rankings
#3 company by equity in Diepenbeek, Finance and insurance sector#4 company by total assets in Diepenbeek, Finance and insurance sector
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€5.9m▲ 17.6%
2023 · €5.0m
Net result
€884,960▲ 2,927%
2023 · €29,237
Total assets
€8.6m▲ 10.4%
2023 · €7.8m
Solvency
68.3%▲ 4.2pp
2023 · 64.1%
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€406,059▼ 11.8%-€1.7m€1.4m€55,600▼ 96.1%€32,861▼ 40.9%
Net result€112,865▼ 14.6%-€2.0m€764,054€29,237▼ 96.2%€884,960▲ 2,927%
Equity€5.3m▲ 0.5%€4.2m▼ 19.7%€5.0m▲ 18.1%€5.0m▲ 0.6%€5.9m▲ 17.6%
Total assets€10.3m▼ 4.4%€9.1m▼ 11.8%€10.5m▲ 15.4%€7.8m▼ 25.4%€8.6m▲ 10.4%
Debt€5.2m▼ 7.0%€4.9m▼ 5.7%€5.5m▲ 13.2%€2.8m▼ 48.9%€2.7m▼ 2.6%
Working capital€723,303▲ 15.3%€846,179▲ 17.0%€5.6m▲ 559%€2.5m▼ 55.0%€3.5m▲ 40.5%
Solvency51.1%▲ 2.5pp46.5%▼ 4.6pp47.6%▲ 1.1pp64.1%▲ 16.6pp68.3%▲ 4.2pp
Staff (FTE)3=1.3▼ 56.7%0
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 41% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €8.6m
Fixed assets
€3.8m ▼ 8.5%
Current assets
€4.8m ▲ 31.8%
Equity and liabilities €8.6m
Equity
€5.9m ▲ 17.6%
Debt
€2.7m ▼ 2.6%
Debt's share of the balance-sheet total falls from 35.9% to 31.7%. Equity is higher and debt is lower.
Key figures and ratios
ROE
15.0%▲
2023 · 0.6%
ROA
10.2%▲
2023 · 0.4%
Debt ≤ 1 year
€1.3m▲
2023 · €1.2m
Debt > 1 year
€1.4m▼
2023 · €1.6m
Income taxes
€33,163▲
2023 · €15,060
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €1.1m | €1,500 | €3,751 | ▲ 150% |
| Remuneration, social security and pensions62 | - | €112,371 | -€9,930 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €31,083 | €53,398 | €54,583 | €78,001 | €169,838 | ▲ 118% |
| Other operating charges640/8 | - | €8,270 | €10,159 | €8,607 | €9,660 | ▲ 12.2% |
| Non-recurring operating charges66A | - | €2.4m | - | €6,793 | - | - |
| Gross operating margin9900 | €603,088 | €833,912 | €1.5m | €149,001 | €212,359 | ▲ 42.5% |
| Operating profit (loss)9901 | €406,059 | -€1.7m | €1.4m | €55,600 | €32,861 | ▼ 40.9% |
| Financial income75/76B | - | €1,193 | €381 | €29,247 | €1.4m | ▲ 4,826% |
| Recurring financial income75 | €133,994 | €1,193 | €381 | €29,247 | €1.4m | ▲ 4,826% |
| Financial charges65/66B | - | €167,559 | €576,989 | €40,550 | €555,365 | ▲ 1,270% |
| Recurring financial charges65 | €267,618 | €17,559 | €26,986 | €40,550 | €39,033 | ▼ 3.7% |
| Non-recurring financial charges66B | - | €150,000 | €550,003 | - | €516,332 | - |
| Profit (loss) for the period before taxes9903 | €150,544 | -€1.9m | €849,581 | €44,297 | €918,123 | ▲ 1,973% |
| Income taxes67/77 | €37,687 | €162,897 | €85,526 | €15,060 | €33,163 | ▲ 120% |
| Profit (loss) for the period9904 | €112,865 | -€2.0m | €764,054 | €29,237 | €884,960 | ▲ 2,927% |
| Profit (loss) for the period to be appropriated9905 | €112,865 | -€2.0m | €764,054 | €29,237 | €884,960 | ▲ 2,927% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €10.3m | €9.1m | €10.5m | €7.8m | €8.6m | ▲ 10.4% |
| Formation expenses20 | €0 | - | - | - | - | - |
| Fixed assets21/28 | €9.0m | €6.8m | €4.0m | €4.2m | €3.8m | ▼ 8.5% |
| Intangible fixed assets21 | €2.4m | €53,347 | €127,408 | €103,803 | €361,887 | ▲ 249% |
| Tangible fixed assets22/27 | €2.9m | €3.8m | €1.6m | €1.7m | €2.1m | ▲ 24.5% |
| Land and buildings22 | - | €3.7m | €1.6m | €1.7m | €2.0m | ▲ 21.5% |
| Plant, machinery and equipment23 | - | €10,601 | €9,243 | €14,703 | €44,648 | ▲ 204% |
| Furniture and vehicles24 | - | €36,158 | €22,575 | €17,804 | €46,150 | ▲ 159% |
| Assets under construction and advance payments27 | - | €976 | - | - | - | - |
| Financial fixed assets28 | €3.6m | €2.9m | €2.3m | €2.4m | €1.3m | ▼ 43.9% |
| Current assets29/58 | €1.5m | €2.3m | €6.5m | €3.7m | €4.8m | ▲ 31.8% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €1.4m | €639,702 | €2.0m | €3.6m | €4.3m | ▲ 19.2% |
| Trade receivables40 | - | €630,821 | €606,816 | €477,063 | €771,968 | ▲ 61.8% |
| Other amounts receivable41 | - | €8,881 | €1.4m | €3.1m | €3.5m | ▲ 12.6% |
| Current investments50/53 | €0 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €797,761 | €1.7m | €271,170 | €106,365 | €189,884 | ▲ 78.5% |
| Deferred charges and accrued income490/1 | - | €17,847 | €4.3m | €708 | €401,611 | ▲ 56,646% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €10.3m | €9.1m | €10.5m | €7.8m | €8.6m | ▲ 10.4% |
| Equity10/15 | €5.3m | €4.2m | €5.0m | €5.0m | €5.9m | ▲ 17.6% |
| Contributions10/11 | - | €810,127 | €810,127 | €810,127 | €638,600 | ▼ 21.2% |
| Revaluation surpluses12 | - | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Reserves13 | €4.6m | €2.4m | €3.2m | €3.2m | €4.3m | ▲ 32.9% |
| Non-distributable reserves130/1 | - | - | - | - | €171,527 | - |
| Reserves not available under the articles1311 | - | - | - | - | €171,527 | - |
| Distributable reserves133 | - | €2.4m | €3.2m | €3.2m | €4.1m | ▲ 27.5% |
| Profit (loss) carried forward14 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €5.2m | €4.9m | €5.5m | €2.8m | €2.7m | ▼ 2.6% |
| Amounts payable after more than one year17 | €4.1m | €3.4m | €4.1m | €1.6m | €1.4m | ▼ 13.6% |
| Financial debts170/4 | - | €3.4m | €4.1m | €1.6m | €1.4m | ▼ 13.6% |
| Amounts payable within one year42/48 | €777,390 | €1.5m | €922,884 | €1.2m | €1.3m | ▲ 13.0% |
| Current portion of amounts payable after more than one year42 | - | €195,181 | €191,870 | €127,384 | €370,309 | ▲ 191% |
| Financial debts43 | - | - | €212,603 | €158,412 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | €212,603 | €158,412 | €0 | ▼ 100% |
| Trade debts44 | €56,630 | €2,317 | €435,332 | €13,740 | €529,525 | ▲ 3,754% |
| Suppliers440/4 | - | €2,317 | €435,332 | €13,740 | €529,525 | ▲ 3,754% |
| Taxes, remuneration and social security45 | - | €126,197 | €83,079 | €15,067 | €10,203 | ▼ 32.3% |
| Taxes450/3 | - | €107,082 | €83,079 | €15,067 | €10,203 | ▼ 32.3% |
| Remuneration and social security454/9 | - | €19,115 | - | - | - | - |
| Other amounts payable47/48 | - | €1.2m | - | €850,000 | €405,993 | ▼ 52.2% |
| Accrued charges and deferred income492/3 | - | €21,714 | €476,351 | €2,224 | €2,693 | ▲ 21.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €112,865 | -€2.0m | €764,054 | €29,237 | €884,960 | ▲ 2,927% |
| + Depreciation and write-downs630 | €31,083 | €53,398 | €54,583 | €78,001 | €169,838 | ▲ 118% |
| Operating cash flow (approximation) | €143,948 | -€2.0m | €818,637 | €107,239 | €1.1m | ▲ 884% |
| Investment in fixed assets (approximation) | - | €2.1m | €2.7m | -€238,086 | €185,640 | ▲ 178% |
| Change in cash | - | €867,664 | -€1.4m | -€164,806 | €83,519 | ▲ 151% |
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
18-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 49 days late
2024
08-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 8 days late
2023
31-12
Financial
Equity above €5mEq €5.0m ▲0.6%
2 profitable years in a row build equity to €5.0m.
03-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 3 days late
2022
31-12
Financial
Back to profitnet €764,054
Net result €764,054 after one loss-making year.
31-12
Financial
Liquidity quadruplescurrent ratio 7.05
Current ratio from 1.57 to 7.05; short-term debt falls from €1.5m to €922,884.
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet -€2.0m
Net result drops to -€2.0m, the lowest in the series; recovery starts the following year.
06-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
18-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Liquidity doublescurrent ratio 1.72
Current ratio from 0.76 to 1.72; short-term debt falls from €1.3m to €873,448.
21-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Show earlier events
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
01-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 1 day late
2016
05-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 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
9 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, Diepenbeek · 1 establishment unit since 2006
Ground area
1.1 ha
Building footprint
2,521 m²
Volume, LiDAR
1,013 m³
2 parcels, Flanders · tallest building 8.6 m, ±1 floor. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
INDEQS
since 20062.157.915.646
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71402D1112/00H004 | Flanders | 9,211 m² | 1 · 2,317 m² | 0.7 m |
| 71065F0421/00B000 | Flanders | 1,518 m² | 1 · 204 m² | 8.6 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.
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Of 24,730 companies in sector 64210 we hold annual accounts for 19,772. 7,594 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
Founded21-09-2006
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
68321Property management for co-owned buildings (syndics)
Scores and ratios are computed by Checked and are not a credit decision.