INGENIM
ActiveSummary
INGENIM has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €541k and a net result of €-41k. Equity is growing by ~5.6% per year across the filed fiscal years. Its solvency ranks better than 69% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability22▼-11
Solvency81▼-19
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity ample (current ratio 2.78 against 4.78 in 2024; short-term debt: 27.6% and cash: 71.3% of total assets), and 44% of the assets are financed with debt.
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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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-41k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-07-2026, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 d early
2024
60 d late
2023
58 d late
2022
31 d late
2021
41 d early
2020
40 d early
2019
24 d early
← 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€541k▼ 33.3%
2024 · €811k
Total assets
€967k▼ 10.9%
2024 · €1.08M
Net result
€-41k▼ 1,166%
2024 · €-3k
Working capital
€475k▼ 27.9%
2024 · €659k
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
Operating result€394k▲ 448%€220k▼ 44.3%€-128k€5k€-5k
Net result€329k▲ 869%€220k▼ 33.0%€-144k€-3k▲ 97.7%€-41k▼ 1,166%
Equity€743k▲ 79.3%€964k▲ 29.6%€820k▼ 14.9%€811k▼ 1.1%€541k▼ 33.3%
Total assets€1.74M▲ 3.3%€1.12M▼ 35.8%€981k▼ 12.0%€1.08M▲ 10.5%€967k▼ 10.9%
Debt€994k▼ 21.6%€151k▼ 84.8%€161k▲ 6.6%€274k▲ 69.6%€426k▲ 55.6%
Working capital€667k▲ 37.4%€896k▲ 34.3%€761k▼ 15.0%€659k▼ 13.4%€475k▼ 27.9%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €5k after €5k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €967k
Fixed assets
€225k ▼ 10.7%
Current assets
€742k ▼ 11.0%
Equity and liabilities €967k
Equity
€541k ▼ 33.3%
Debt
€426k ▲ 55.6%
Debt's share of the balance-sheet total rises from 25.2% to 44.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€7k▼
2024 · €17k
Cash flow
€-29k▼
2024 · €9k
Current ratio
2.78▼
2024 · 4.78
Quick ratio
2.69▲
2024 · 2.30
Debt to equity
0.79▲
2024 · 0.34
ROE
-7.6%▼
2024 · -0.4%
ROA
-4.2%▼
2024 · -0.3%
Interest coverage
0.98▼
2024 · 1.76
Debt ≤ 1 year
€267k▲
2024 · €174k
Debt > 1 year
€139k▲
2024 · €85k
Income taxes
€274▼
2024 · €280
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €5k | - | - | €54 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9k | €8k | €10k | €12k | €12k | ▲ 2.1% |
| Other operating charges640/8 | €2k | €2k | €1k | €2k | €1k | ▼ 31.0% |
| Non-recurring operating charges66A | €53 | €3k | €46k | €12k | €2k | ▼ 85.5% |
| Gross operating margin9900 | €405k | €233k | €-71k | €31k | €10k | ▼ 66.8% |
| Operating profit (loss)9901 | €394k | €220k | €-128k | €5k | €-5k | ▼ 206% |
| Financial income75/76B | €76k | €77k | €4k | €2k | €9k | ▲ 386% |
| Recurring financial income75 | €76k | €77k | €4k | €2k | €9k | ▲ 386% |
| Financial charges65/66B | €15k | €3k | €19k | €10k | €44k | ▲ 352% |
| Recurring financial charges65 | €15k | €3k | €19k | €10k | €7k | ▼ 25.7% |
| Non-recurring financial charges66B | - | - | - | - | €37k | - |
| Profit (loss) for the period before taxes9903 | €456k | €294k | €-144k | €-3k | €-41k | ▼ 1,276% |
| Income taxes67/77 | €127k | €74k | €270 | €280 | €274 | ▼ 2.0% |
| Profit (loss) for the period9904 | €329k | €220k | €-144k | €-3k | €-41k | ▼ 1,166% |
| Profit (loss) for the period to be appropriated9905 | €329k | €220k | €-144k | €-3k | €-41k | ▼ 1,166% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.74M | €1.12M | €981k | €1.08M | €967k | ▼ 10.9% |
| Fixed assets21/28 | €78k | €76k | €67k | €251k | €225k | ▼ 10.7% |
| Intangible fixed assets21 | €3k | - | - | - | - | - |
| Tangible fixed assets22/27 | €22k | €23k | €14k | €199k | €209k | ▲ 5.0% |
| Land and buildings22 | - | - | - | €189k | €202k | ▲ 6.9% |
| Plant, machinery and equipment23 | - | - | - | €1k | €1k | ▲ 5.4% |
| Furniture and vehicles24 | €22k | €23k | €14k | €8k | €5k | ▼ 36.9% |
| Financial fixed assets28 | €53k | €53k | €53k | €53k | €16k | ▼ 69.7% |
| Current assets29/58 | €1.66M | €1.04M | €915k | €833k | €742k | ▼ 11.0% |
| Stocks and contracts in progress3 | €665k | €97k | €375k | €433k | €23k | ▼ 94.8% |
| Stocks30/36 | €665k | €97k | €375k | €433k | €23k | ▼ 94.8% |
| Amounts receivable within one year40/41 | €19k | €52k | €79k | €134k | €27k | ▼ 79.7% |
| Trade receivables40 | €15k | €15k | €50k | €97k | €2k | ▼ 98.1% |
| Other amounts receivable41 | €4k | €38k | €29k | €37k | €25k | ▼ 31.3% |
| Cash at bank and in hand54/58 | €974k | €889k | €458k | €264k | €689k | ▲ 161% |
| Deferred charges and accrued income490/1 | €1k | €1k | €2k | €2k | €3k | ▲ 22.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.74M | €1.12M | €981k | €1.08M | €967k | ▼ 10.9% |
| Equity10/15 | €743k | €964k | €820k | €811k | €541k | ▼ 33.3% |
| Contributions10/11 | €90k | €90k | €90k | €90k | €90k | = |
| Capital10 | €90k | €90k | €90k | €90k | €90k | = |
| Issued capital100 | €180k | €180k | €180k | €180k | €180k | = |
| Uncalled capital101 | €90k | €90k | €90k | €90k | €90k | = |
| Reserves13 | €653k | €874k | €730k | €721k | €451k | ▼ 37.5% |
| Non-distributable reserves130/1 | €407k | €628k | €628k | €622k | €393k | ▼ 36.9% |
| Legal reserve130 | €23k | €23k | €23k | €23k | €23k | = |
| Other1319 | €384k | €604k | €604k | €599k | €369k | ▼ 38.3% |
| Distributable reserves133 | €246k | €246k | €102k | €99k | €58k | ▼ 41.3% |
| Profit (loss) carried forward14 | €10 | €10 | - | - | - | - |
| Amounts payable17/49 | €994k | €151k | €161k | €274k | €426k | ▲ 55.6% |
| Amounts payable after more than one year17 | - | - | - | €85k | €139k | ▲ 63.8% |
| Financial debts170/4 | - | - | - | €85k | €139k | ▲ 63.8% |
| Amounts payable within one year42/48 | €992k | €144k | €154k | €174k | €267k | ▲ 53.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €9k | €9k | ▲ 3.2% |
| Trade debts44 | €116k | €78k | €43k | €159k | €42k | ▼ 73.5% |
| Suppliers440/4 | €116k | €78k | €43k | €159k | €42k | ▼ 73.5% |
| Advances received on contracts in progress46 | €809k | - | €43k | - | - | - |
| Taxes, remuneration and social security45 | €65k | €65k | €37k | €183 | - | - |
| Taxes450/3 | €65k | €65k | €37k | €183 | - | - |
| Other amounts payable47/48 | €2k | - | €31k | €6k | €215k | ▲ 3,639% |
| Accrued charges and deferred income492/3 | €2k | €8k | €8k | €15k | €20k | ▲ 36.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €329k | €220k | €-144k | €-3k | €-41k | ▼ 1,166% |
| + Depreciation and write-downs630 | €9k | €8k | €10k | €12k | €12k | ▲ 2.1% |
| Operating cash flow (approximation) | €338k | €229k | €-134k | €9k | €-29k | ▼ 420% |
| Investment in fixed assets (approximation) | - | €-6k | €-984 | €-197k | €14k | ▲ 107% |
| Change in cash | - | €-85k | €-431k | €-195k | €426k | ▲ 318% |
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
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 60 days late
2024
27-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 58 days late
2023
31-12
Financial
Weakest financial yearnet €-144k
Net result drops to €-144k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
31-12
Financial
Liquidity quadruplescurrent ratio 7.23
Current ratio from 1.67 to 7.23; short-term debt falls from €992k to €144k.
20-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €329k ▲869%
Operating result €394k, net result €329k, both a record.
31-12
Financial
Equity above €500kEq €743k ▲79.3%
4 profitable years in a row build equity to €743k.
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
14-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
04-05
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Vorst · 1 establishment unit since 2006
Ground area
3,619 m²
Building footprint
3,042 m²
Volume, LiDAR
9,569 m³
Parcel 21382C0271/00C002, Brussels · tallest building 30.7 m, ±1 floor. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
INGENIM
since 20062.159.745.877
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21382C0271/00C002 | Brussels | 3,618 m² | 1 · 3,042 m² | 30.6 m · 1 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.
Similar companies · same sector, comparable size
SCAPE
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IMMO - PREJAMBES
BE 0443.062.148
Andenne · Eq €541,197
OZHON INVEST
BE 0801.185.950
Juprelle · Eq €540,054
Alima
BE 0417.102.374
Oudenaarde · Eq €542,054
Of 9,698 companies in sector 68121 we hold annual accounts for 7,385. 4,630 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
Founded22-12-2006
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
Scores and ratios are computed by Checked and are not a credit decision.