Equity
Debts exceed assets in financial year 2024.
Debts exceed assets in financial year 2024.
The accounts state no turnover.
Of this, €20,359 falls due within a year.
Green is investment, beige is depreciation.
2025 accounts not filed: deadline was 31-07-2026.
Less equity than 95% of companies in computer programming and consultancy. Sector median €73,748 · 20,549 companies.
Negative equity caps the score at 59.
The dashed line is the sector median: 0.1% across 25,933 companies (NACE 62, micro).
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, micro). It does better than 7% of them on solvency, 21% on liquidity, 22% on profitability and 70% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2024.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 3,632 companies had the same profile as INDEV has now. Each dot stands for 10 companies, two years later.
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of INDEV itself: 0.8% within 12 months.
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,632 companies, not a prediction for INDEV. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is ample, with a current ratio of 1.5 (1.36 in 2023), above the usual 1.5. Short-term debt is 34% and cash 9.1% of total assets. However, equity is negative.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 6 accounts on average 108 days after the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| INDEV Evere | €59,901 | €12,333 | -15.5% | - |
| AversusB Overijse | €59,878 | €12,188 | 60.0% | - |
| Logic IT Wemmel | €61,462 | €10,997 | 65.8% | - |
| OOBOX Chaumont-Gistoux | €57,139 | €13,900 | 24.0% | - |
| BELGIUM MANAGEMENT CONDOMINIUM TOOLS Brussels | €81,714 | €12,118 | 68.1% | - |
| FTM SERVICES La Louvière | €80,135 | €12,748 | 12.2% | - |
| MAKE YOUR POINT Rixensart | €59,865 | €9,974 | 93.7% | - |
These companies have the same main activity as INDEV: other information technology and computer services (NACE 62900). They are comparable in size and age: total assets between €57,100 and €81,700, founded between 2005 and 2012.
INDEV files the micro format. That format states no turnover. The gross margin rose from -€2,575 in 2009 to €12,333 in 2024.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 11 November 2026.
Higher than 7% of 20,537 companies in 2024.
Higher than 29% of 19,921 companies in 2024.
Higher than 28% of 20,101 companies in 2024.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||
20/58 |
59,901 | 72,172 | 34,918 | 75,365 | 99,457 | 81,316 | 52,196 | 26,832 | 27,537 | 23,395 | 31,193 | 43,323 | 44,141 | 43,870 | 18,829 | |
21/28 |
29,280 | 169 | 50 | 6,724 | 16,456 | 19,252 | 10,717 | 5,052 | 10,815 | 2,048 | 1,839 | 2,035 | 2,361 | 2,224 | 680 | |
22/27 |
29,230 | 119 | - | 6,674 | 13,491 | 16,287 | 10,667 | 5,002 | 10,765 | 1,998 | 1,789 | 1,985 | 2,311 | 2,174 | 680 | |
24 |
29,230 | 119 | - | 6,674 | 13,491 | 16,287 | 10,667 | 5,002 | 10,765 | 1,998 | 1,789 | 1,985 | 2,311 | 2,174 | 680 | |
28 |
50 | 50 | 50 | 50 | 2,965 | 2,965 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | - | |
29/58 |
30,621 | 72,003 | 34,868 | 68,641 | 83,001 | 62,064 | 41,479 | 21,780 | 16,722 | 21,347 | 29,353 | 41,288 | 41,779 | 41,646 | 18,148 | |
40/41 |
24,841 | 63,937 | 22,225 | 61,026 | 72,214 | 51,695 | 28,690 | 17,619 | 11,995 | 18,893 | 26,031 | 33,876 | 38,121 | 37,616 | 18,010 | |
40 |
24,841 | 62,387 | 18,913 | 59,476 | 70,664 | 50,145 | 27,140 | 16,886 | 11,995 | 18,834 | 26,031 | 33,876 | 36,903 | 37,616 | 17,336 | |
41 |
- | 1,550 | 3,312 | 1,550 | 1,550 | 1,550 | 1,550 | 733 | - | 59 | - | - | 1,218 | 0 | 674 | |
54/58 |
5,428 | 7,713 | 12,290 | 7,262 | 10,435 | 10,017 | 12,437 | 3,808 | 4,374 | 1,262 | 1,773 | 6,538 | 2,785 | 1,457 | 138 | |
490/1 |
353 | 353 | 353 | 353 | 352 | 352 | 352 | 353 | 353 | 1,192 | 1,550 | 874 | 874 | 2,573 | 0 | |
| Balance sheet: equity and liabilities | ||||||||||||||||
10/49 |
59,901 | 72,172 | 34,918 | 75,365 | 99,457 | 81,316 | 52,196 | 26,832 | 27,537 | 23,395 | 31,193 | 43,323 | 44,141 | 43,870 | 18,829 | |
10/15 |
-9,263 | -12,704 | 465 | 32,117 | 30,365 | 27,082 | 13,586 | -556 | 4,489 | 3,614 | -18,924 | -5,040 | 15,353 | 12,612 | 7,315 | |
10/11 |
3,000 | 3,000 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 10,000 | |
10 |
- | - | - | 18,550 | - | - | - | - | - | - | - | - | - | - | - | |
100 |
- | - | - | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | |
101 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 8,550 | |
11 |
3,000 | 3,000 | 18,550 | - | - | - | - | - | - | - | - | - | - | - | - | |
1109/19 |
3,000 | 3,000 | 18,550 | - | - | - | - | - | - | - | - | - | - | - | - | |
13 |
1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | - | - | - | - | - | |
130/1 |
1,855 | 1,855 | 1,855 | 1,855 | 1,855 | - | - | - | - | - | - | - | - | - | - | |
130 |
1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | - | - | - | - | - | |
14 |
-14,118 | -17,559 | -19,940 | 11,712 | 9,960 | 6,677 | -6,819 | -20,961 | -15,916 | -16,791 | -37,474 | -23,590 | -3,197 | -5,938 | -2,685 | |
17/49 |
69,165 | 84,876 | 34,453 | 43,248 | 69,092 | 54,234 | 38,610 | 27,388 | 23,048 | 19,781 | 50,116 | 48,364 | 28,788 | 31,258 | 11,514 | |
17 |
16,806 | - | - | - | - | 2,650 | 7,500 | - | - | - | - | - | - | - | - | |
170/4 |
16,806 | - | - | - | - | 2,650 | 7,500 | - | - | - | - | - | - | - | - | |
42/48 |
20,359 | 52,876 | 34,453 | 43,248 | 69,092 | 51,584 | 31,110 | 27,388 | 23,048 | 19,781 | 50,116 | 48,364 | 28,788 | 31,258 | 11,466 | |
42 |
7,135 | - | - | - | - | 7,088 | 3,862 | 661 | - | - | - | - | - | - | - | |
44 |
10,159 | 7,773 | 10,298 | 16,578 | 28,753 | 3,986 | - | 5,976 | 5,372 | 9,219 | 13,686 | 22,085 | 13,988 | 14,520 | 8,438 | |
440/4 |
10,159 | 7,773 | 10,298 | 16,578 | 28,753 | 3,986 | - | 5,976 | 5,372 | 9,219 | 13,686 | 22,085 | 13,988 | 14,520 | 8,438 | |
45 |
2,953 | 3,543 | 588 | 1,282 | 7,257 | 24,371 | 15,331 | 11,847 | 14,429 | 496 | 18,625 | 16,910 | 4,824 | 9,229 | - | |
450/3 |
2,953 | 2,386 | 588 | 1,282 | 7,257 | 17,848 | 11,193 | 4,422 | 1,692 | 496 | 3,761 | 3,601 | 78 | 5,573 | - | |
454/9 |
- | 1,157 | - | - | - | 6,523 | 4,138 | 7,425 | 12,737 | - | 14,863 | 13,309 | 4,745 | 3,656 | - | |
47/48 |
111 | 41,560 | 23,567 | 25,388 | 33,082 | 16,139 | 11,917 | 8,904 | 3,247 | 10,066 | 17,806 | 9,369 | 9,976 | 7,509 | 3,028 | |
492/3 |
32,000 | 32,000 | - | - | - | - | - | - | - | - | - | - | - | - | 48 | |
| Income statement | ||||||||||||||||
70 |
- | 120,360 | 145,133 | 232,338 | 195,165 | 198,599 | 168,681 | - | - | - | - | 149,792 | - | - | - | |
76A |
- | - | 950 | - | - | 6,837 | 12,234 | - | - | - | - | - | - | - | - | |
9900 |
12,333 | 4,454 | 32,075 | 82,447 | 77,370 | 89,613 | 77,967 | 47,176 | 65,770 | 74,192 | 72,737 | 61,258 | 41,979 | 15,545 | -2,575 | |
60/61 |
- | 115,906 | 114,008 | 149,891 | 117,795 | 115,823 | 102,949 | - | - | - | - | 95,501 | - | - | - | |
62 |
- | - | 51,264 | 68,310 | 59,362 | 55,042 | 45,846 | 43,321 | 57,080 | 49,271 | 84,097 | 81,426 | 26,863 | 17,151 | - | |
630 |
3,078 | - | 6,674 | 6,817 | 6,817 | 10,810 | 10,336 | 5,763 | 6,240 | 1,602 | 1,626 | 2,206 | 1,745 | 1,118 | 62 | |
640/8 |
4,123 | 531 | 45 | 1,369 | 1,610 | 317 | 2,192 | 828 | 1,387 | 437 | 437 | 437 | 9,986 | 89 | - | |
66A |
- | - | - | - | - | - | - | - | - | - | - | 26 | - | - | - | |
9901 |
5,132 | 3,923 | -25,908 | 5,951 | 9,581 | 23,444 | 19,593 | -2,736 | 1,063 | 22,882 | -13,422 | -22,810 | 3,384 | -2,813 | -2,637 | |
75/76B |
1 | - | 1 | - | 17 | 1 | 16 | 6 | 5 | 32 | - | 3,080 | 754 | 1 | 0 | |
75 |
1 | - | 1 | - | 17 | 1 | 16 | 6 | 5 | 32 | - | 3,080 | 754 | 1 | 0 | |
65/66B |
-308 | 622 | 636 | 735 | 436 | 2,449 | 67 | 314 | 193 | 377 | 462 | 636 | 1,397 | 441 | 48 | |
65 |
-308 | 622 | 636 | 735 | 436 | 2,449 | 67 | 314 | 193 | 377 | 462 | 636 | 1,397 | 441 | 48 | |
9903 |
5,441 | 3,301 | -26,543 | 5,216 | 9,162 | 20,996 | 19,542 | -3,044 | 875 | 22,538 | -13,884 | -20,393 | 2,741 | -3,253 | -2,685 | |
67/77 |
2,000 | 2,000 | 5,109 | 3,464 | 2,000 | 7,500 | 5,400 | 2,000 | - | - | - | - | - | 0 | - | |
9904 |
3,441 | 1,301 | -31,652 | 1,752 | 7,162 | 13,496 | 14,142 | -5,044 | 875 | 22,538 | -13,884 | -20,393 | 2,741 | -3,253 | -2,685 | |
9905 |
3,441 | 1,301 | -31,652 | 1,752 | 7,162 | 13,496 | 14,142 | -5,044 | 875 | 22,538 | -13,884 | -20,393 | 2,741 | -3,253 | -2,685 | |
| Appropriation of the result | ||||||||||||||||
9906 |
-14,118 | -18,639 | -19,940 | 11,712 | 9,960 | 6,677 | -6,819 | -20,961 | -15,916 | -14,936 | -37,474 | -23,590 | -3,197 | -5,938 | -2,685 | |
14P |
-17,559 | -19,940 | 11,712 | 9,960 | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | 1,080 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | 1,855 | - | - | - | - | - | |
6920 |
- | - | - | - | - | - | - | - | - | 1,855 | - | - | - | - | - | |
| Social balance sheet | ||||||||||||||||
9087 |
- | - | - | - | - | - | - | - | 1 | 1.2 | 2 | 2 | 0.8 | 0.6 | - | |
Hours worked1013 |
0 | - | - | - | - | - | - | - | 2,242 | 2,240 | 3,510 | 3,387 | 1,534 | 1,088 | - | |
| Document | ||||||||||||||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2024 (PDF), filed on 26-09-2025.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 26-09-2025 | 2025-00521713 | |
| 31-12-2023 | micro format | 06-02-2025 | 2025-00030822 | |
| 31-12-2022 | full format | 09-10-2023 | 2023-00477976 | |
| 31-12-2021 | full format | 13-10-2022 | 2022-20458875 | |
| 31-12-2020 | full format | 10-12-2021 | 2021-80000139 | |
| 31-12-2018 | full format | 03-12-2019 | 2019-75400452 | |
| 31-12-2017 | full format | 16-11-2018 | 2018-72400539 | |
| 31-12-2016 | full format | 14-02-2018 | 2018-05000065 | |
| 31-12-2015 | full format | 20-12-2016 | 2016-70900292 | |
| 31-12-2014 | full format | 15-07-2015 | 2015-31800176 | |
| 31-12-2013 | full format | 15-12-2014 | 2014-69400498 | |
| 31-12-2012 | full format | 30-07-2013 | 2013-37300101 | |
| 31-12-2011 | full format | 01-08-2012 | 2012-38000100 | |
| 31-12-2010 | full format | 15-07-2011 | 2011-29900087 | |
| 31-12-2009 | full format | 16-08-2010 | 2010-41200123 |
| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 8,210 | - | -19,234 | 12,768 | 16,398 | 34,254 | 29,929 | 3,027 | 7,303 | 24,485 | -11,796 | -20,605 | 5,130 | -1,696 | -2,575 | ||
| 6,519 | - | -24,978 | 8,569 | 13,979 | 24,306 | 24,478 | 719 | 7,115 | 24,140 | -12,258 | -18,187 | 4,486 | -2,135 | -2,623 | ||
| 32,190 | - | 0 | -2,915 | - | 19,345 | 16,001 | 0 | 15,007 | 1,811 | 1,430 | 1,879 | 1,883 | 2,662 | 742 | ||
| -2,285 | -4,577 | 5,028 | -3,173 | - | -2,420 | 8,629 | -566 | 3,112 | -511 | -4,765 | 3,753 | 1,328 | 1,319 | - | ||
| 10,262 | 19,127 | 415 | 25,393 | 13,909 | 10,480 | 10,369 | -5,608 | -6,326 | 1,566 | -20,763 | -7,076 | 12,991 | 10,388 | 6,683 | ||
| - | 3.3% | -17.9% | 2.6% | 4.9% | 11.8% | 11.6% | - | - | - | - | -15.2% | - | - | - | ||
| -15.5% | -17.6% | 1.3% | 42.6% | 30.5% | 33.3% | 26.0% | -2.1% | 16.3% | 15.4% | -60.7% | -11.6% | 34.8% | 28.7% | 38.8% | ||
| 1.50 | 1.36 | 1.01 | 1.59 | 1.20 | 1.20 | 1.33 | 0.80 | 0.73 | 1.08 | 0.59 | 0.85 | 1.45 | 1.33 | 1.58 | ||
| - | - | - | 1.35 | 2.28 | 2.00 | 2.84 | - | 5.13 | 5.47 | - | - | 1.88 | 2.48 | 1.57 | ||
| - | - | - | 5.5% | 23.6% | 49.8% | 104.1% | - | 19.5% | 623.6% | - | - | 17.9% | -25.8% | -36.7% | ||
| 5.7% | 1.8% | -90.6% | 2.3% | 7.2% | 16.6% | 27.1% | -18.8% | 3.2% | 96.3% | -44.5% | -47.1% | 6.2% | -7.4% | -14.3% | ||
| -26.62 | - | -30.24 | 17.37 | - | - | - | - | - | - | - | - | - | - | - | ||
| - | 189 days | 48 days | 93 days | 132 days | 92 days | 59 days | - | - | - | - | 83 days | - | - | - | ||
| - | 24 days | 33 days | 40 days | 89 days | 13 days | - | - | - | - | - | 84 days | - | - | - |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2024 |
|---|---|
| Employees at the balance-sheet date | 0 |
| full-time | 0 |
| part-time | 0 |
Source: social balance sheet in the 2024 annual accounts
| Item | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Tangible fixed assets | €32,190 | - | - | - |
| €3,078 | - | €6,674 | €6,817 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
The operating result for 2024 is 31% higher than in 2023 and the highest since 2021. It is the second rise in a row, after the fall in 2022.
Equity is negative. Debt (€69,165) exceeds the balance-sheet total (€59,901).
INDEV has no parent and no holdings in its annual accounts. JANSSENS Fabrice is the only director.
| GRAPHIC VILLAGE
registered office since 01-12-2008 · founded in 2008 |
turnover €44,613 (2025) 0806.125.725 |
| CRESCENDO via JANSSENS Fabrice, no longer at CRESCENDO · Director · deed of 25-10-2017 |
founded in 1989 |
The network starts from the earlier ties.
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Kareelovenlaan 3C registered office 1140 Evere | ||
| Kareelovenlaan 3 1140 Evere | 23-10-2009 | 2.182.144.464 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21372D0102/00R000 | 1,498 m² | 1 · 402 m² | 12.5 m · 1 |
If something looks wrong or is missing, please tell us.