Result
The result fell in 2024 from -€4,407 to -€150,489.
These deadlines come from the publication of the judgment. Check them in RegSol before you file anything. Once a deadline has passed, it is too late for that step.
If this company owes you money, you are not paid automatically. You file your claim yourself, within the deadline the judgment sets.
This is general information, not legal advice. If in doubt, the trustee, your lawyer or your accountant can help.
Embed the INFINITY SYSTEM company card in your article about this bankruptcy: name, enterprise number, its status in the KBO and the latest annual accounts, with a link to this dossier.
The result fell in 2024 from -€4,407 to -€150,489.
Of this, €646,612 falls due within a year.
The 2019 accounts came latest: 69 days after the end of the period.
On 17 November 2025 the court declared INFINITY SYSTEM bankrupt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Lower than 95% of 356 companies in 2024.
Higher than 10% of 331 companies in 2024.
Lower than 95% of 336 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 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||
20/58 |
141,846 | 140,908 | 145,757 | 248,074 | 10,546 | 30,271 | 16,897 | |
21/28 |
0 | - | 85 | 1,117 | 2,148 | 0 | 0 | |
21 |
0 | - | - | - | - | 0 | 0 | |
22/27 |
0 | - | 85 | 1,117 | 2,148 | - | - | |
24 |
0 | - | 85 | 1,117 | 2,148 | - | - | |
29/58 |
141,846 | 140,908 | 145,672 | 246,957 | 8,397 | 30,271 | 16,897 | |
40/41 |
141,719 | 140,426 | 140,034 | 244,461 | 7,975 | 27,521 | 5,975 | |
40 |
309 | 675 | 1,900 | 21,245 | 1,345 | 19,021 | 2,065 | |
41 |
141,410 | 139,751 | 138,134 | 223,216 | 6,630 | 8,500 | 3,910 | |
54/58 |
127 | 296 | 5,381 | 2,338 | 236 | 2,750 | 10,347 | |
490/1 |
0 | 185 | 258 | 159 | 186 | 0 | 575 | |
| Balance sheet: equity and liabilities | ||||||||
10/49 |
141,846 | 140,908 | 145,757 | 248,074 | 10,546 | 30,271 | 16,897 | |
10/15 |
-504,803 | -354,314 | -349,907 | -302,394 | -414,873 | -256,461 | -130,373 | |
10/11 |
200,000 | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 | |
10 |
200,000 | 200,000 | 200,000 | 200,000 | - | - | - | |
100 |
200,000 | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 | |
14 |
-704,803 | -554,314 | -549,907 | -502,394 | -614,873 | -456,461 | -330,373 | |
17/49 |
646,649 | 495,222 | 495,664 | 550,468 | 425,419 | 286,732 | 147,270 | |
17 |
- | - | - | - | - | - | 0 | |
178/9 |
- | - | - | - | - | - | 0 | |
42/48 |
646,612 | 495,185 | 495,652 | 550,468 | 425,419 | 286,732 | 147,270 | |
44 |
146,023 | 1,685 | 2,152 | 791 | 2,519 | 13,630 | 14,444 | |
440/4 |
146,023 | 1,685 | 2,152 | 791 | 2,519 | 13,630 | 14,444 | |
45 |
0 | - | - | 56,177 | 11,309 | 5,448 | 7,474 | |
450/3 |
0 | - | - | 50,163 | 1,370 | 0 | 1,303 | |
454/9 |
0 | - | - | 6,014 | 9,940 | 5,448 | 6,171 | |
47/48 |
500,589 | 493,500 | 493,500 | 493,500 | 411,591 | 267,655 | 125,352 | |
492/3 |
38 | 36 | 12 | - | 0 | - | - | |
| Income statement | ||||||||
70 |
0 | - | - | - | - | 14,349 | 1,316 | |
76A |
- | - | - | - | - | - | 402,000 | |
9900 |
-152,048 | -5,998 | -9,520 | 163,242 | -75,728 | -79,959 | 313,875 | |
60/61 |
152,048 | - | - | - | - | 94,308 | 89,441 | |
62 |
0 | - | 32,817 | 48,321 | 72,946 | 41,674 | 42,294 | |
630 |
- | 85 | 1,032 | 1,032 | 946 | - | 200,000 | |
640/8 |
607 | 604 | 568 | 568 | 568 | 568 | 348 | |
66A |
- | - | - | - | - | - | 400,000 | |
9901 |
-152,655 | -6,687 | -43,935 | 113,321 | -150,188 | -122,200 | -328,767 | |
75/76B |
2,818 | 2,772 | - | - | - | - | 0 | |
75 |
2,818 | 2,772 | - | - | - | - | 0 | |
65/66B |
652 | 492 | 3,577 | 842 | 7,112 | 3,889 | 1,606 | |
65 |
652 | 492 | 3,577 | 842 | 7,112 | 3,889 | 1,606 | |
9903 |
-150,489 | -4,407 | -47,513 | 112,479 | -157,301 | -126,089 | -330,373 | |
67/77 |
- | - | - | - | 1,111 | - | - | |
9904 |
-150,489 | -4,407 | -47,513 | 112,479 | -158,412 | -126,089 | -330,373 | |
9905 |
-150,489 | -4,407 | -47,513 | 112,479 | -158,412 | -126,089 | -330,373 | |
| Appropriation of the result | ||||||||
9906 |
-704,803 | -554,314 | -549,907 | -502,394 | -614,873 | -456,461 | -330,373 | |
14P |
-554,314 | -549,907 | -502,394 | -614,873 | - | - | - | |
| Social balance sheet | ||||||||
9087 |
- | - | 0.8 | 1.2 | 1.9 | 1 | 0.9 | |
Hours worked1013 |
- | - | 15,656 | 2,172 | 3,240 | 1,752 | 1,620 | |
| Document | ||||||||
The notes to these accounts have 4 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 29-08-2025.
2024 annual accounts filed 29 days after the deadline. Filed on 29 August 2025, deadline 31 July 2025 (7 months after the close on 31 December 2024, Companies Code art. 3:10). Source: NBB, 2025-00441669.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | full format | 29-08-2025 | 2025-00441669 | |
| 31-12-2023 | full format | 30-08-2024 | 2024-00418535 | |
| 31-12-2022 | full format | 31-08-2023 | 2023-00400109 | |
| 31-12-2021 | full format | 24-08-2022 | 2022-20311061 | |
| 31-12-2020 | full format | 24-08-2021 | 2021-52800433 | |
| 31-12-2019 | full format | 08-10-2020 | 2020-60400370 | |
| 31-12-2018 | full format | 29-08-2019 | 2019-56800532 |
| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| - | -6,602 | -42,904 | 114,353 | -149,242 | - | -128,767 | ||
| - | -4,322 | -46,481 | 113,511 | -157,465 | - | -130,373 | ||
| - | 0 | 0 | 0 | 403,095 | 0 | 200,000 | ||
| -169 | -5,085 | 3,043 | 2,101 | -2,513 | -7,597 | - | ||
| -504,766 | -354,277 | -349,980 | -303,511 | -417,021 | -256,461 | -130,373 | ||
| -355.9% | -251.5% | -240.1% | -121.9% | - | -847.2% | -771.6% | ||
| 0.22 | 0.28 | 0.29 | 0.45 | 0.02 | 0.11 | 0.11 | ||
| -106.1% | -3.1% | -32.6% | 45.3% | - | -416.5% | - | ||
| - | -13.43 | -11.99 | over 100 | - | - | - | ||
| - | - | - | - | - | 484 days | 573 days | ||
| 351 days | - | - | - | - | 53 days | 59 days |
EBIT margin. Not meaningful: turnover is only a small part of operating income.
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 | 31-12-2022 | 31-12-2021 |
|---|---|---|
| Employees at the balance-sheet date | - | 1 |
| full-time | - | 1 |
| in full-time equivalents | - | 1 |
| 0.8 | 1.2 | |
| On a permanent contract | - | 1 |
| Joined | 0 | 0 |
| Left | 1 | 1 |
Source: social balance sheet in the 2021 to 2022 annual accounts
The operating result for 2024 is a loss of €152,655, larger than the loss of €6,687 in 2023. It is the lowest result since 2018.
Equity is negative. Debt (€646,649) exceeds the balance-sheet total (€141,846).
Further up the chainInvest Minguet Gestion 100%
Source: shareholder structure in its own accounts, lists of holdings in the owners' accounts
Source: list of holdings in the 2025 accounts of ALL THERMIC SOLUTIONS. Every holding stands with its own latest accounts.
Part of the group Invest Minguet Gestion Group, risk and exposure| Power Online
registered office since 11-06-2013 · founded in 2013 · group La Deuxième Phase |
turnover €574.7m (2025) 0535.615.192 |
| MEGA GROUP INTERNATIONAL SA
registered office since 15-10-2019 · founded in 2019 · group La Deuxième Phase |
21 FTE (2025) 0734.648.009 |
| Invest Minguet Gestion
registered office since 30-08-2002 · founded in 2000 · accounts filed late |
9.5 FTE (2024) 0472.499.470 |
| MIMOB
registered office since 07-05-2010 · founded in 2010 · accounts filed late |
6.7 FTE (2024) 0825.749.023 |
| HORIZON PLEIADES
registered office since 01-10-2004 · founded in 2004 · group MIMOB · accounts filed late |
7 FTE (2024) 0867.447.640 |
| HORIZON CONSTRUCT
registered office since 26-05-2004 · founded in 2004 · negative equity (2025) · group MIMOB · accounts filed late |
total assets €9.6m (2025) 0865.493.881 |
| HAPPY BEES
registered office since 22-11-2016 · founded in 2016 · group La Deuxième Phase |
87 FTE (2025) 0666.412.467 |
| GREEN INVEST HOLDING
establishment since 02-08-2018 · founded in 2018 |
total assets €8.1m (2025) 0700.603.878 |
| HAVETTE CONSTRUCT
registered office since 04-02-2020 · founded in 2020 · negative equity (2025) · group MIMOB |
total assets €7.0m (2025) 0742.872.025 |
| INVEST MINGUET HOTEL
registered office since 25-09-2006 · founded in 2006 · group Invest Minguet Gestion |
22 FTE (2025) 0883.713.352 |
The network starts from the directors of INFINITY SYSTEM. Every other company they run is a node.
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 |
|---|---|---|
| Rue Natalis 2 registered office 4020 Liège 58290 Other software publishing | 04-12-2017 | 2.271.172.549 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 62817B0482/00Z003 | 5,447 m² | 1 · 1,275 m² | 29.4 m · 7 |
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