INDL
ActiveSummary
INDL has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.36M and a net result of €112k. Equity is growing by ~5.7% per year across the filed fiscal years. Its solvency ranks better than 46% of 9194 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
65
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability65▼-3
Solvency52▲+2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €85k at 30 days acceptable
Liquidity short (current ratio 0.21 against 0.14 in 2024; short-term debt: 33.7% and cash: 4.8% of total assets), and 72.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← 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
27.4%
Return on assets
2.2%
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 18-08-2026, 18 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 · 8 filingsDeviation from the deadline
2025
18 d late
2024
19 d late
2023
13 d late
2022
32 d late
2021
29 d late
2020
30 d late
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (2)
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€112k
2024 · €-26k
2019: €-46k
2020: €-8k
2021: €-4k
2022: €50k
2023: €180k
2024: €-26k
2019 → 2025
Working capital
€-1.32M▲ 10.7%
2024 · €-1.48M
2019: €-952k
2020: €-150k
2021: €-194k
2022: €-334k
2023: €-223k
2024: €-1.48M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.09M-€1.13M▲ 3.3%€1.30M▲ 14.9%€1.26M▼ 2.9%€1.36M▲ 8.1%
Operating result€6k-€71k▲ 1,089%€230k▲ 225%€23k▼ 89.8%€227k▲ 870%
Net result€-4k-€50k€180k▲ 258%€-26k€112k
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 870% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.97M
Fixed assets
€4.62M ▼ 5.2%
Current assets
€352k ▲ 42.8%
Equity and liabilities €4.97M
Equity
€1.36M ▲ 8.1%
Debt
€3.61M ▼ 6.5%
Debt's share of the balance-sheet total falls from 75.4% to 72.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€487k▲
2024 · €477k
Cash flow
€371k▼
2024 · €427k
Current ratio
0.21▲
2024 · 0.14
Debt to equity
2.66▼
2024 · 3.07
ROE
8.2%▲
2024 · -2.1%
ROA
2.2%▲
2024 · -0.5%
Interest coverage
5.26▼
2024 · 7.83
Debt ≤ 1 year
€1.67M▼
2024 · €1.73M
Debt > 1 year
€1.87M▼
2024 · €2.10M
Income taxes
€33k▲
2024 · €0
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 · 2025 against 2024 · 44 lines
Balance sheet
Code20242025
Assets
Total assets20/58€5.12M€4.97M▼
Formation expenses20€193€0▼
Fixed assets21/28€4.87M€4.62M▼
Tangible fixed assets22/27€4.87M€4.62M▼
Land and buildings22€4.87M€4.62M▼
Current assets29/58€247k€352k▲
Amounts receivable within one year40/41€39k€110k▲
Trade receivables40€3k€68k▲
Other amounts receivable41€37k€42k▲
Cash at bank and in hand54/58€207k€239k▲
Deferred charges and accrued income490/1-€3k
Equity and liabilities
Total equity and liabilities10/49€5.12M€4.97M▼
Equity10/15€1.26M€1.36M▲
Contributions10/11€810k€810k=
Revaluation surpluses12€69k€69k=
Reserves13€2k€2k=
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€275k€387k▲
Investment grants15€101k€91k▼
Amounts payable17/49€3.86M€3.61M▼
Amounts payable after more than one year17€2.10M€1.87M▼
Financial debts170/4€2.10M€1.87M▼
Amounts payable within one year42/48€1.73M€1.67M▼
Current portion of amounts payable after more than one year42€230k€230k=
Trade debts44€5k€65k▲
Suppliers440/4€5k€65k▲
Taxes, remuneration and social security45€47k€22k▼
Taxes450/3€47k€22k▼
Other amounts payable47/48€1.44M€1.36M▼
Accrued charges and deferred income492/3€36k€68k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€453k€259k▼
Other operating charges640/8€52k€52k▲
Gross operating margin9900€529k€539k▲
Operating profit (loss)9901€23k€227k▲
Financial income75/76B€12k€10k▼
Recurring financial income75€12k€10k▼
Financial charges65/66B€61k€93k▲
Recurring financial charges65€61k€93k▲
Profit (loss) for the period before taxes9903€-26k€145k▲
Income taxes67/77€0€33k▲
Profit (loss) for the period9904€-26k€112k▲
Profit (loss) for the period to be appropriated9905€-26k€112k▲
Appropriation of the result
Profit (loss) to be appropriated9906€275k€387k▲
Profit (loss) brought forward from the previous period14P€301k€275k▼
The notes to these accounts (18 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
18-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 18 days late
2025
31-12
Financial
Back to profitnet €112k
Net result €112k after one loss-making year.
19-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 19 days late
2024
13-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 13 days late
2023
31-12
Financial
Highest result since 2019net €180k ▲258%
Operating result €230k, net result €180k, both a record.
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 32 days late
2022
31-12
Financial
Back to profitnet €50k
Net result €50k after 3 loss-making years.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 29 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 30 days late
2020
31-12
Financial
Equity above €1MEq €1.11M ▲230%
Equity rises from €337k to €1.11M.
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Sprimont · 1 establishment unit since 2017
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.
Rue de la Légende 324141 SprimontGround area
4,055 m²
Building footprint
425 m²
Volume, LiDAR
2,511 m³
Parcel 62067D0001/00W006, Wallonia · tallest building 7.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue de la Légende 32, 4141 Sprimont
since 20172.264.431.940
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62067D0001/00W006 | Wallonia | 4,055 m² | 1 · 425 m² | 7.0 m · 2 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.
Similar companies · same sector, comparable size
BELCROWN REALTY
BE 0432.521.416
Schoten · Eq €1,360,970
DE BRANDT IMMO
BE 1005.543.372
Lochristi · Eq €1,356,943
MDW VASTGOED
BE 0760.328.065
Antwerpen · Eq €1,362,588
ENERGIE WEST
BE 0446.055.884
Zandhoven · Eq €1,362,990
BOX
BE 0806.021.696
Mortsel · Eq €1,354,757
Of 12,022 companies in sector 68203 we hold annual accounts for 5,986. 3,927 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded21-03-2017
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
52100Warehousing and storage
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.