INDIKO
ActiveThe computed 12-month bankruptcy probability of INDIKO is 3.8% (moderate). The 2025 annual accounts show equity of €644k and a net result of €339k. Equity is growing by ~44.3% per year across the filed fiscal years. The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
54
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability79▼-16
Solvency40▼-60
Growth78=
Track record94
Bankruptcy probability, 12 months
3.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 39.48 against 1.26 in 2024; short-term debt: 0.5% and cash: 11.9% of total assets), but 84.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
15.3%
Return on assets
8.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 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 · 4 filingsDeviation from the deadline
2025
27 d late
2024
on the day
2023
12 d late
2022
30 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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€644k▲ 111%
2024 · €305k
2022: €172k
2023: €231k
2024: €305k
2022 → 2025
Total assets
€4.20M▲ 1,085%
2024 · €354k
2022: €209k
2023: €375k
2024: €354k
2022 → 2025
Net result
€339k▲ 357%
2024 · €74k
2022: €14k
2023: €59k
2024: €74k
2022 → 2025
Working capital
€830k▲ 8,741%
2024 · €9k
2022: €67k
2023: €27k
2024: €9k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€172k-€231k▲ 34.1%€305k▲ 32.1%€644k▲ 111%
Operating result€18k-€82k▲ 367%€102k▲ 24.0%€554k▲ 442%
Net result€14k-€59k▲ 333%€74k▲ 26.3%€339k▲ 357%
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 three years in a row; 2025 is 442% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.20M
Fixed assets
€3.35M▲ 982%
Current assets
€852k▲ 1,788%
Equity and liabilities €4.20M
Equity
€644k▲ 111%
Provisions
€215k
Debt
€3.34M▲ 6,704%
The debt ratio rises from 13.8% to 79.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€916k▲
2024 · €123k
Cash flow
€701k▲
2024 · €95k
Solvency
15.3%▼
2024 · 86.2%
Current ratio
39.48▲
2024 · 1.26
Quick ratio
39.48▲
2024 · 1.26
Debt / equity
5.18▲
2024 · 0.16
ROE
52.6%▲
2024 · 24.3%
ROA
8.1%▼
2024 · 20.9%
Interest coverage
20356.02▲
2024 · 34.65
Debt
€3.34M▲
2024 · €49k
Debt ≤ 1 year
€22k▼
2024 · €36k
Debt > 1 year
€3.31M▲
2024 · €4k
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€354k€4.20M▲
Fixed assets21/28€309k€3.35M▲
Tangible fixed assets22/27€309k€3.35M▲
Land and buildings22€309k€3.13M▲
Furniture and vehicles24€745€336▼
Assets under construction and advance payments27-€218k
Current assets29/58€45k€852k▲
Amounts receivable within one year40/41€5k€46▼
Other amounts receivable41€5k€46▼
Current investments50/53-€350k
Cash at bank and in hand54/58€29k€500k▲
Deferred charges and accrued income490/1€11k€2k▼
Equity and liabilities
Total equity and liabilities10/49€354k€4.20M▲
Equity10/15€305k€644k▲
Contributions10/11€75k€75k=
Reserves13€36k€681k▲
Tax-exempt reserves132-€645k
Distributable reserves133€36k€36k=
Profit (loss) carried forward14€195k€-111k▼
Provisions and deferred taxes16-€215k
Deferred taxes168-€215k
Amounts payable17/49€49k€3.34M▲
Amounts payable after more than one year17€4k€3.31M▲
Other amounts payable178/9€4k€3.31M▲
Amounts payable within one year42/48€36k€22k▼
Trade debts44€15k€22k▲
Suppliers440/4€15k€22k▲
Taxes, remuneration and social security45€20k-
Taxes450/3€20k-
Other amounts payable47/48-€7
Accrued charges and deferred income492/3€9k€11k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21k€362k▲
Other operating charges640/8€14k€14k▲
Gross operating margin9900€137k€930k▲
Operating profit (loss)9901€102k€554k▲
Financial income75/76B€2€153▲
Recurring financial income75€2€153▲
Financial charges65/66B€4k€45▼
Recurring financial charges65€4k€45▼
Profit (loss) for the period before taxes9903€99k€554k▲
Transfer to deferred taxes680-€215k
Income taxes67/77€24k-
Profit (loss) for the period9904€74k€339k▲
Transfer to tax-exempt reserves689-€645k
Profit (loss) for the period to be appropriated9905€74k€-306k▼
Appropriation of the result
Profit (loss) to be appropriated9906€195k€-111k▼
Profit (loss) brought forward from the previous period14P€121k€195k▲
The notes to these accounts (7 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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
31-12
Financial
Highest result since 2022net €339k ▲357%
Operating result €554k, net result €339k, both a record.
31-12
Financial
Liquidity times 31current ratio 39.48
Current ratio from 1.26 to 39.48; short-term debt falls from €36k to €22k.
31-12
Financial
Equity above €500kEq €644k ▲111%
4 profitable years in a row build equity to €644k.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
12-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 12 days late
2023
31-12
Financial
Equity above €200kEq €231k ▲34.1%
2 profitable years in a row build equity to €231k.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Sint-Pieters-Woluwe · 1 establishment unit since 2021
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.
Putdaellaan 91150 Sint-Pieters-WoluweGround area
1,932 m²
Building footprint
208 m²
Volume, LiDAR
1,997 m³
Parcel 21682C0009/00E003, Brussels · tallest building 13.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
INDIKO
since 20212.318.179.541
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21682C0009/00E003 | Brussels | 1,932 m² | 1 · 208 m² | 13.2 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded11-06-2021
Fiscal year end31-12
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.