INGEO
ActiveSummary
INGEO has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.3m and a net result of €114,135. Equity is growing by ~36.4% per year across the filed fiscal years. Its solvency ranks better than 28% of 2028 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▼-16
Solvency51▼-49
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €90,000 at 30 days acceptable
Liquidity short (current ratio 0.94 against 4.95 in 2024; short-term debt: 29% and cash: 4% of total assets), and 73.7% of the assets are financed with debt.
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Signals
Five 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 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% 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
26.3%
Return on assets
2.3%
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 · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
1 d early
2023
8 d early
2022
17 d late
2021
2 d early
2020
1 d early
2019
on the day
← 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 2 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#6 employer in Verviers, Professional and technical services sector#9 company by total assets in Verviers, Professional and technical services sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€114,135▼ 51.3%
2024 · €234,512
Working capital
-€90,528
2024 · €1.0m
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€215,043▲ 263%€279,327▲ 29.9%€398,902▲ 42.8%€304,050▼ 23.8%€177,875▼ 41.5%
Net result€167,946▲ 336%€199,947▲ 19.1%€301,481▲ 50.8%€234,512▼ 22.2%€114,135▼ 51.3%
Equity€473,869▲ 54.9%€673,816▲ 42.2%€975,297▲ 44.7%€1.2m▲ 24.0%€1.3m▲ 9.4%
Total assets€955,636▲ 74.8%€1.0m▲ 8.6%€1.5m▲ 45.5%€1.5m▼ 1.6%€5.0m▲ 239%
Debt€481,767▲ 100%€363,575▼ 24.5%€533,970▲ 46.9%€275,380▼ 48.4%€3.7m▲ 1,249%
Working capital€465,311▲ 32.9%€540,905▲ 16.2%€892,616▲ 65.0%€1.0m▲ 14.5%-€90,528
Staff (FTE)3.4▲ 17.2%4.9▲ 44.1%7.3▲ 49.0%7.3=15.6▲ 114%
Why a figure moved sharply
- 2025 Net result -51% on 2024. This fiscal year ran 15 months, the previous one 12. The accounts now follow the abbreviated schema, last year the full schema.
- 2025 Total assets +239% on 2024. Cause not known from the registers.
- 2025 Staff (FTE) +114% on 2024. The accounts now follow the abbreviated schema, last year the full schema.
- 2023 Net result +51% on 2022. The accounts now follow the full schema, last year the micro schema.
- 2021 Net result +336%, Equity +55%, Total assets +75% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 41% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.0m
Fixed assets
€3.7m ▲ 1,698%
Current assets
€1.4m ▲ 6.9%
Equity and liabilities €5.0m
Equity
€1.3m ▲ 9.4%
Debt
€3.7m ▲ 1,249%
Debt's share of the balance-sheet total rises from 18.5% to 73.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€398,006▼
2024 · €422,889
Cash flow
€334,265▼
2024 · €353,351
Current ratio
0.94▼
2024 · 4.95
Debt to equity
2.81▲
2024 · 0.23
ROE
8.6%▼
2024 · 19.4%
ROA
2.3%▼
2024 · 15.8%
Interest coverage
12.52▼
2024 · 404.47
Debt ≤ 1 year
€1.5m▲
2024 · €258,920
Debt > 1 year
€2.3m▲
2024 · €15,596
Income taxes
€76,426▼
2024 · €77,555
Staff costs
€859,389▲
2024 · €377,201
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 | - | - | - | - | €11,652 | - |
| Remuneration, social security and pensions62 | €146,328 | €226,461 | €342,021 | €377,201 | €859,389 | ▲ 128% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €54,407 | €77,212 | €111,730 | €118,839 | €220,130 | ▲ 85.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €3,184 | -€2,459 | ▼ 177% |
| Other operating charges640/8 | €3,986 | €1,322 | €1,426 | €2,693 | €6,019 | ▲ 124% |
| Non-recurring operating charges66A | - | - | - | - | €15,307 | - |
| Gross operating margin9900 | €419,764 | €584,322 | €854,079 | €805,968 | €1.3m | ▲ 58.4% |
| Operating profit (loss)9901 | €215,043 | €279,327 | €398,902 | €304,050 | €177,875 | ▼ 41.5% |
| Financial income75/76B | €91 | €450 | €2,816 | €9,062 | €44,478 | ▲ 391% |
| Recurring financial income75 | €91 | €450 | €2,816 | €9,062 | €44,478 | ▲ 391% |
| Financial charges65/66B | €2,256 | €18,189 | -€835 | €1,046 | €31,792 | ▲ 2,941% |
| Recurring financial charges65 | €2,256 | €18,189 | -€835 | €1,046 | €31,792 | ▲ 2,941% |
| Profit (loss) for the period before taxes9903 | €212,877 | €261,588 | €402,553 | €312,067 | €190,561 | ▼ 38.9% |
| Income taxes67/77 | €44,932 | €61,641 | €101,072 | €77,555 | €76,426 | ▼ 1.5% |
| Profit (loss) for the period9904 | €167,946 | €199,947 | €301,481 | €234,512 | €114,135 | ▼ 51.3% |
| Transfer from tax-exempt reserves789 | €46,926 | €31,950 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €214,871 | €231,897 | €301,481 | €234,512 | €114,135 | ▼ 51.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €955,636 | €1.0m | €1.5m | €1.5m | €5.0m | ▲ 239% |
| Fixed assets21/28 | €211,478 | €330,670 | €241,536 | €204,227 | €3.7m | ▲ 1,698% |
| Intangible fixed assets21 | - | €6,992 | €4,640 | €2,288 | €331,894 | ▲ 14,409% |
| Tangible fixed assets22/27 | €211,478 | €323,679 | €236,762 | €201,804 | €455,085 | ▲ 126% |
| Land and buildings22 | - | - | - | - | €8,081 | - |
| Plant, machinery and equipment23 | €121,582 | €95,920 | €62,874 | €59,005 | €106,757 | ▲ 80.9% |
| Furniture and vehicles24 | €89,896 | €227,758 | €173,888 | €142,799 | €218,661 | ▲ 53.1% |
| Leasing and similar rights25 | - | - | - | - | €48,215 | - |
| Other tangible fixed assets26 | - | - | - | - | €73,370 | - |
| Financial fixed assets28 | - | - | €135 | €135 | €2.9m | ▲ 2,136,239% |
| Current assets29/58 | €744,158 | €706,721 | €1.3m | €1.3m | €1.4m | ▲ 6.9% |
| Stocks and contracts in progress3 | - | - | - | €18,000 | €0 | ▼ 100% |
| Stocks30/36 | - | - | - | €18,000 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €245,996 | €305,483 | €626,472 | €664,995 | €1.1m | ▲ 71.6% |
| Trade receivables40 | €156,855 | €141,160 | €306,929 | €404,913 | €402,515 | ▼ 0.6% |
| Other amounts receivable41 | €89,141 | €164,322 | €319,544 | €260,082 | €738,808 | ▲ 184% |
| Current investments50/53 | €330,610 | €218,933 | €507,407 | €502,166 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €159,205 | €168,058 | €128,996 | €87,486 | €202,006 | ▲ 131% |
| Deferred charges and accrued income490/1 | €8,347 | €14,248 | €4,855 | €8,317 | €25,393 | ▲ 205% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €955,636 | €1.0m | €1.5m | €1.5m | €5.0m | ▲ 239% |
| Equity10/15 | €473,869 | €673,816 | €975,297 | €1.2m | €1.3m | ▲ 9.4% |
| Contributions10/11 | €2,046 | €2,046 | €2,046 | €2,046 | €2,046 | = |
| Reserves13 | €471,250 | €671,300 | €972,300 | €1.2m | €1.3m | ▲ 9.5% |
| Non-distributable reserves130/1 | €17,300 | €17,300 | €17,300 | €17,300 | €17,300 | = |
| Reserves not available under the articles1311 | €17,300 | €17,300 | €17,300 | €17,300 | €17,300 | = |
| Tax-exempt reserves132 | €31,950 | - | - | - | - | - |
| Distributable reserves133 | €422,000 | €654,000 | €955,000 | €1.2m | €1.3m | ▲ 9.6% |
| Profit (loss) carried forward14 | €573 | €470 | €951 | €463 | €0 | ▼ 100% |
| Amounts payable17/49 | €481,767 | €363,575 | €533,970 | €275,380 | €3.7m | ▲ 1,249% |
| Amounts payable after more than one year17 | €197,540 | €192,042 | €151,665 | €15,596 | €2.3m | ▲ 14,369% |
| Financial debts170/4 | €97,540 | €92,042 | €51,665 | €15,596 | €58,856 | ▲ 277% |
| Other amounts payable178/9 | €100,000 | €100,000 | €100,000 | - | €2.2m | - |
| Amounts payable within one year42/48 | €278,847 | €165,816 | €375,115 | €258,920 | €1.5m | ▲ 464% |
| Current portion of amounts payable after more than one year42 | €37,840 | €45,771 | €40,377 | €36,069 | €36,777 | ▲ 2.0% |
| Financial debts43 | - | - | - | - | €897 | - |
| Credit institutions430/8 | - | - | - | - | €897 | - |
| Trade debts44 | €193,720 | €40,659 | €177,902 | €91,599 | €331,333 | ▲ 262% |
| Suppliers440/4 | €193,720 | €40,659 | €177,902 | €91,599 | €331,333 | ▲ 262% |
| Advances received on contracts in progress46 | - | - | - | - | €13,611 | - |
| Taxes, remuneration and social security45 | €32,085 | €62,543 | €136,692 | €131,253 | €193,927 | ▲ 47.8% |
| Taxes450/3 | €7,097 | €25,098 | €86,135 | €73,717 | €125,317 | ▲ 70.0% |
| Remuneration and social security454/9 | €24,988 | €37,445 | €50,557 | €57,535 | €68,610 | ▲ 19.2% |
| Other amounts payable47/48 | €15,202 | €16,844 | €20,143 | - | €882,706 | - |
| Accrued charges and deferred income492/3 | €5,380 | €5,717 | €7,191 | €864 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €167,946 | €199,947 | €301,481 | €234,512 | €114,135 | ▼ 51.3% |
| + Depreciation and write-downs630 | €54,407 | €77,212 | €111,730 | €118,839 | €220,130 | ▲ 85.2% |
| Operating cash flow (approximation) | €222,353 | €277,159 | €413,211 | €353,351 | €334,265 | ▼ 5.4% |
| Investment in fixed assets (approximation) | - | -€196,404 | -€22,596 | -€81,529 | -€3.7m | ▼ 4,422% |
| Change in cash | - | €8,852 | -€39,061 | -€41,511 | €114,521 | ▲ 376% |
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
2026
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
29-04
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-09
Financial
Equity above €1mEq €1.2m ▲24%
7 profitable years in a row build equity to €1.2m.
22-04
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-09
Financial
Highest result since 2018net €301,481 ▲50.8%
Operating result €398,902, net result €301,481, both a record.
17-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 17 days late
2022
30-09
Financial
Equity above €500,000Eq €673,816 ▲42.2%
5 profitable years in a row build equity to €673,816.
28-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Weakest financial yearnet €38,477 ▼53.3%
Net result drops to €38,477, the lowest in the series; recovery starts the following year.
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Equity above €200,000Eq €267,447 ▲44.5%
2 profitable years in a row build equity to €267,447.
Show earlier events
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
09-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 9 days late
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, Verviers · 1 establishment unit since 2011
Ground area
355 m²
Building footprint
193 m²
Parcel 63043B0315/00T002, Wallonia. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
INGEO G
since 20112.211.704.819
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63043B0315/00T002 | Wallonia | 355 m² | 1 · 193 m² | - |
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
Part of the group
STUDIBO HOLDING
24 companies
Group, risk and exposure
Owners and holdings
1 owner · 1 holdingChain of control
Highest known parent: STUDIBO HOLDING. The sources do not say who stands above it.
Owners 1
- Studibo Belgiumparent100%
Holdings 1
-
100%
According to the 2025 annual accounts of INGEO 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
No current directors or connected companies found in the register.
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Of 1,759 companies in sector 71122 we hold annual accounts for 771. 309 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded22-06-2011
Fiscal year end31-12
Activities, NACEBEL 2025
71122Land surveying
43120Site preparation
63920Other information service activities
68310Real estate agency activities
68322Real estate appraisal on a fee or contract basis
71121Engineering and related technical consultancy, excluding land surveyors
71209Other technical testing and analysis
74999Other professional, scientific and technical activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0837170277
Registered
18-12-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.