INFISO
ActiveSummary
INFISO has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €72.5m and a net result of €6.9m. Equity is growing by ~13.3% per year across the filed fiscal years. Its solvency ranks better than 85% of 3221 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability59▲+12
Solvency100=
Growth85=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000,000 at 30 days acceptable
Liquidity ample (current ratio 8.91 against 9.0 in 2024; short-term debt: 7.1% and cash: 0.8% of total assets), and 9% of the assets are financed with debt.
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Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Six 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← 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
91%
Return on assets
8.7%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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
28 d late
2024
29 d late
2023
30 d late
2022
29 d late
2021
31 d late
2020
62 d late
2019
47 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 37 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Financials · fiscal year 2025, full schema
In the rankings
#1 company by total assets in Herve, Professional and technical services sector#1 company by equity in Herve, Professional and technical services sector
Turnover
€10.1m▲ 197%
2024 · €3.4m
EBIT margin
84.3%▲ 9.8pp
2024 · 74.6%
Net result
€6.9m▲ 140%
2024 · €2.9m
Working capital
€44.8m▲ 17.7%
2024 · €38.1m
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
Line20212022202320242025
Turnover€595,000▼ 58.5%€1.2m▲ 106%€1.2m▼ 0.8%€3.4m▲ 180%€10.1m▲ 197%
Operating result€242,687▼ 78.9%-€1.4m-€992,739▲ 31.3%€2.5m€8.5m▲ 236%
Net result€14,499▼ 98.4%€32.1m▲ 221,166%-€262,035€2.9m€6.9m▲ 140%
EBIT margin40.8%▼ 39.5pp-118.1%▼ 158.9pp-81.8%▲ 36.3pp74.6%▲ 156.4pp84.3%▲ 9.8pp
Equity€33.9m=€63.0m▲ 85.9%€62.7m▼ 0.4%€65.6m▲ 4.6%€72.5m▲ 10.5%
Total assets€59.4m▲ 27.4%€66.0m▲ 11.2%€68.5m▲ 3.7%€71.8m▲ 4.8%€79.6m▲ 10.9%
Debt€25.5m▲ 100%€3.0m▼ 88.1%€5.8m▲ 90.0%€6.2m▲ 7.8%€7.1m▲ 14.6%
Working capital-€15.8m▼ 612%€39.3m€35.1m▼ 10.6%€38.1m▲ 8.3%€44.8m▲ 17.7%
Why a figure moved sharply
- 2025 Turnover +197%, Net result +140% on 2024. Cause not known from the registers.
- 2024 Turnover +180% on 2023. Cause not known from the registers.
- 2022 Turnover +106%, Net result +221,166%, Equity +86% on 2021. Cause not known from the registers.
- 2021 Turnover -59%, Net result -98% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 236% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €79.6m
Fixed assets
€29.1m ▲ 0.5%
Current assets
€50.5m ▲ 17.9%
Equity and liabilities €79.6m
Equity
€72.5m ▲ 10.5%
Debt
€7.1m ▲ 14.6%
Debt's share of the balance-sheet total rises from 8.7% to 9.0%. Equity and debt are higher.
Key figures and ratios
Current ratio
8.91▼
2024 · 9.00
Debt to equity
0.10▲
2024 · 0.09
ROE
9.5%▲
2024 · 4.4%
ROA
8.7%▲
2024 · 4.0%
Debt ≤ 1 year
€5.7m▲
2024 · €4.8m
Debt > 1 year
€1.5m=
2024 · €1.5m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 344 companies that looked in July 2024 the way this one looks now, 0% went bankrupt within 24 months and 98% are still going.
- Large
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0%
went bankrupt
2.3%
stopped otherwise
98%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 344 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €601,569 | €1.2m | €1.3m | €3.4m | €10.1m | ▲ 197% |
| Turnover70 | €595,000 | €1.2m | €1.2m | €3.4m | €10.1m | ▲ 197% |
| Other operating income74 | €6,569 | €929 | €42,328 | - | €1,576 | - |
| Operating charges60/66A | €358,882 | €2.7m | €2.2m | €865,357 | €1.6m | ▲ 83.3% |
| Services and other goods61 | €357,230 | €2.7m | €585,366 | €740,962 | €1.5m | ▲ 106% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €1.7m | - | - | - |
| Other operating charges640/8 | €1,653 | €1,189 | €4,798 | €4,396 | €4,927 | ▲ 12.1% |
| Non-recurring operating charges66A | - | - | - | €120,000 | €52,493 | ▼ 56.3% |
| Operating profit (loss)9901 | €242,687 | -€1.4m | -€992,739 | €2.5m | €8.5m | ▲ 236% |
| Financial income75/76B | €19,996 | €35.5m | €1.0m | €727,881 | €2.0m | ▲ 173% |
| Recurring financial income75 | €19,996 | €35.5m | €687,392 | €689,257 | €1.6m | ▲ 125% |
| Income from current assets751 | €19,996 | €301,306 | €644,995 | €663,846 | €1.2m | ▲ 74.0% |
| Other financial income752/9 | - | €35.2m | €42,397 | €25,411 | €395,310 | ▲ 1,456% |
| Non-recurring financial income76B | - | - | €335,938 | €38,624 | €440,147 | ▲ 1,040% |
| Financial charges65/66B | €240,013 | €1.9m | €292,626 | €399,687 | €3.6m | ▲ 811% |
| Recurring financial charges65 | €240,013 | €1.9m | €142,626 | €129,635 | €274,450 | ▲ 112% |
| Debt charges650 | €232,055 | €1.8m | €82,063 | €53,411 | €242,787 | ▲ 355% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | €6,303 | €26,849 | €21,440 | ▼ 20.1% |
| Other financial charges652/9 | €7,959 | €180,675 | €54,260 | €49,374 | €10,223 | ▼ 79.3% |
| Non-recurring financial charges66B | - | - | €150,000 | €270,052 | €3.4m | ▲ 1,146% |
| Profit (loss) for the period before taxes9903 | €22,670 | €32.1m | -€262,035 | €2.9m | €6.9m | ▲ 140% |
| Income taxes67/77 | €8,171 | €9,435 | - | - | - | - |
| Taxes670/3 | €17,882 | €39,435 | - | - | - | - |
| Tax adjustments and reversals of tax provisions77 | €9,711 | €30,000 | - | - | - | - |
| Profit (loss) for the period9904 | €14,499 | €32.1m | -€262,035 | €2.9m | €6.9m | ▲ 140% |
| Transfer from tax-exempt reserves789 | €213,600 | - | €178,000 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €228,099 | €32.1m | -€84,035 | €2.9m | €6.9m | ▲ 140% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €59.4m | €66.0m | €68.5m | €71.8m | €79.6m | ▲ 10.9% |
| Fixed assets21/28 | €52.1m | €25.8m | €29.3m | €29.0m | €29.1m | ▲ 0.5% |
| Financial fixed assets28 | €52.1m | €25.8m | €29.3m | €29.0m | €29.1m | ▲ 0.5% |
| Affiliated companies280/1 | €28.6m | €19.0m | €22.3m | €22.1m | €15.4m | ▼ 30.2% |
| Participating interests280 | €28.6m | €19.0m | €22.3m | €22.1m | €15.4m | ▼ 30.2% |
| Companies linked by participating interests282/3 | €12.1m | €6.7m | €6.9m | €6.7m | €10.2m | ▲ 51.7% |
| Participating interests282 | €12.1m | €6.7m | €6.9m | €6.7m | €10.2m | ▲ 51.7% |
| Other financial fixed assets284/8 | €11.4m | €117,523 | €117,523 | €117,523 | €3.5m | ▲ 2,857% |
| Shares284 | €11.4m | €117,523 | €117,523 | €117,523 | €3.5m | ▲ 2,857% |
| Current assets29/58 | €7.2m | €40.2m | €39.2m | €42.8m | €50.5m | ▲ 17.9% |
| Amounts receivable after more than one year29 | €1.7m | €10.9m | €11.9m | €11.3m | €9.4m | ▼ 17.2% |
| Trade receivables290 | - | €9.2m | €11.9m | €11.3m | €9.4m | ▼ 17.2% |
| Other amounts receivable291 | €1.7m | €1.7m | - | - | - | - |
| Amounts receivable within one year40/41 | €1.9m | €13.0m | €9.7m | €8.6m | €12.2m | ▲ 43.0% |
| Trade receivables40 | €29,245 | €369,851 | €113,591 | €72,158 | €7,254 | ▼ 89.9% |
| Other amounts receivable41 | €1.8m | €12.6m | €9.6m | €8.5m | €12.2m | ▲ 44.1% |
| Current investments50/53 | €1.6m | €14.1m | €17.2m | €22.5m | €28.2m | ▲ 25.6% |
| Own shares50 | - | €10.5m | €10.5m | €13.6m | €18.6m | ▲ 36.7% |
| Other investments51/53 | €1.6m | €3.6m | €6.7m | €8.9m | €9.6m | ▲ 8.6% |
| Cash at bank and in hand54/58 | €2.1m | €2.2m | €523,447 | €471,255 | €628,085 | ▲ 33.3% |
| Deferred charges and accrued income490/1 | €4,900 | - | €624 | €3,598 | €5,504 | ▲ 53.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €59.4m | €66.0m | €68.5m | €71.8m | €79.6m | ▲ 10.9% |
| Equity10/15 | €33.9m | €63.0m | €62.7m | €65.6m | €72.5m | ▲ 10.5% |
| Contributions10/11 | €10.3m | €10.3m | €10.3m | €10.3m | €10.3m | = |
| Capital10 | €10.0m | €10.0m | €10.0m | €10.0m | €10.0m | = |
| Issued capital100 | €10.0m | €10.0m | €10.0m | €10.0m | €10.0m | = |
| Outside capital11 | €271,223 | €271,223 | €271,223 | €271,223 | €271,223 | = |
| Share premium1100/10 | €271,223 | €271,223 | €271,223 | €271,223 | €271,223 | = |
| Revaluation surpluses12 | €3.0m | - | - | - | - | - |
| Reserves13 | €3.8m | €14.9m | €14.9m | €18.0m | €23.0m | ▲ 27.8% |
| Non-distributable reserves130/1 | €444,917 | €11.5m | €11.5m | €14.6m | €19.6m | ▲ 34.2% |
| Legal reserve130 | €444,917 | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Own shares acquired1312 | - | €10.5m | €10.5m | €13.6m | €18.6m | ▲ 36.7% |
| Tax-exempt reserves132 | €178,000 | €178,000 | - | - | - | - |
| Distributable reserves133 | €3.2m | €3.2m | €3.4m | €3.4m | €3.4m | = |
| Profit (loss) carried forward14 | €16.8m | €37.8m | €37.6m | €37.3m | €39.2m | ▲ 5.1% |
| Amounts payable17/49 | €25.5m | €3.0m | €5.8m | €6.2m | €7.1m | ▲ 14.6% |
| Amounts payable after more than one year17 | €2.5m | €2.1m | €1.7m | €1.5m | €1.5m | = |
| Financial debts170/4 | €1.9m | €1.7m | €1.5m | €1.5m | €1.5m | ▲ 0.4% |
| Credit institutions173 | €412,261 | €237,116 | €59,667 | - | - | - |
| Other loans174 | €1.5m | €1.4m | €1.5m | €1.5m | €1.5m | ▲ 0.4% |
| Other amounts payable178/9 | €633,252 | €446,814 | €165,295 | €6,024 | - | - |
| Amounts payable within one year42/48 | €23.0m | €908,749 | €4.1m | €4.8m | €5.7m | ▲ 19.1% |
| Current portion of amounts payable after more than one year42 | €172,870 | €175,145 | €177,449 | €59,667 | - | - |
| Financial debts43 | €14.0m | - | - | - | - | - |
| Credit institutions430/8 | €14.0m | - | - | - | - | - |
| Trade debts44 | €60,916 | €32,691 | €29,503 | €34,084 | €155,889 | ▲ 357% |
| Suppliers440/4 | €60,916 | €32,691 | €29,503 | €34,084 | €155,889 | ▲ 357% |
| Taxes, remuneration and social security45 | €39,249 | €39,089 | €20,742 | €124,982 | €73,128 | ▼ 41.5% |
| Taxes450/3 | €39,249 | €39,089 | €20,742 | €124,982 | €73,128 | ▼ 41.5% |
| Other amounts payable47/48 | €8.7m | €661,825 | €3.9m | €4.5m | €5.4m | ▲ 19.8% |
| Accrued charges and deferred income492/3 | - | - | - | €120 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,499 | €32.1m | -€262,035 | €2.9m | €6.9m | ▲ 140% |
| Operating cash flow (approximation) | €14,499 | €32.1m | -€262,035 | €2.9m | €6.9m | ▲ 140% |
| Investment in fixed assets (approximation) | - | €26.3m | -€3.4m | €270,052 | -€145,371 | ▼ 154% |
| Change in cash | - | €137,544 | -€1.7m | -€52,193 | €156,831 | ▲ 400% |
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
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 28 days late
21-08
State Gazette act
General meeting · Director appointment
Permanent representative · Pre-incorporation commitments
21-08
State Gazette act
General meeting · Director appointment
Permanent representative · Pre-incorporation commitments
11-03
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
11-03
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 29 days late
2024
31-12
Financial
Back to profitnet €2.9m
Net result €2.9m after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
31-12
Financial
Weakest financial yearnet -€262,035
Net result drops to -€262,035, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 29 days late
2022
31-12
Financial
Highest result since 2018net €32.1m ▲221,166%
Net result €32.1m, the highest in the series.
31-12
Financial
Liquidity times 141current ratio 44.24
Current ratio from 0.31 to 44.24; short-term debt falls from €23.0m to €908,749.
Show earlier events
31-12
Financial
Equity above €50mEq €63.0m ▲85.9%
5 profitable years in a row build equity to €63.0m.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
22-07
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment
05-05
State Gazette act
General meeting · Director resignation
Permanent representative · Director appointment
05-05
State Gazette act
General meeting · Director resignation
Director appointment · Mandate compensation
05-05
State Gazette act
General meeting · Director resignation
Director appointment · Mandate compensation
2021
01-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 62 days late
2020
16-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 47 days late
2019
09-09
State Gazette act
General meeting · Director appointment
Permanent representative · Board meeting
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 29 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
18-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 18 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 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
11 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, Herve · 1 establishment unit since 1995
Ground area
1.4 ha
Building footprint
8,952 m²
Volume, LiDAR
62,224 m³
Parcel 63014A0644/00C000, Wallonia · tallest building 15.7 m, ±2 floors. Linked by address, not a title deed.
37
companies at this address
See who is registered here
1 establishment unit
Avenue du Parc 22, 4650 Herve
since 19952.071.985.029
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63014A0644/00C000 | Wallonia | 1.4 ha | 1 · 8,952 m² | 15.7 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
2 owners · 22 holdings · 10 subsidiaries in the treeOwners 2
- Sourceaccounts GEFISO 202516.37%
- Sourceaccounts GESOFA 20250.66%
Holdings 22
-
100%
-
100%
-
100%
-
100%
-
100%
-
99.9%
-
70%
-
50%
-
48.95%
-
48.9%
Show 12 more holdings
-
40.83%
-
38%
-
35%
-
35%
-
35%
-
33.33%
-
32%
-
23.45%
-
23.33%
-
12.49%
-
3.39%
-
1.72%
All subsidiaries, including indirect ones 10
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
- Creficom 100%
- Seeben 100%
- SKILLSHOT 100%
Unibox Games 100%3 subsidiaries
- BONCAR 100%
- CENTRALE DES JEUX 100%
- GESTEC 100%
- Ventuno 100%
- I.R.E.S.A.ES 99.9%
- MACROBOGAES 70%
According to the 2025 annual accounts of INFISO and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
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Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
CORTEX HOLDING
Shared director
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Ownership & control
2 board mandatesBoard mandates of this companythis company sits on their board2
1 location
1 location
Recognitions · licences · registrations
Legal Entity Identifier
875500QRFKLYSDI7EO34
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BE 0452.855.584
Brussel · Eq €71.1m
Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 1,459 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded14-04-1995
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
46110Wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0455069659
Also
9925:BE0455069659
Registered
20-11-2020
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.