INPICO
ActiveINPICO has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.23M and a net result of €1.17M. Equity is growing by ~8.5% per year across the filed fiscal years. Its solvency ranks better than 47% of 296 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
94
/ 100
Excellent= vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency79▲+8
Growth78=
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €210k at 30 days acceptable
Liquidity ample (current ratio 1.96 against 1.78 in 2024), but 62.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Sector 25
higher
← 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
37.3%
Return on assets
19.5%
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 31-08-2026, 31 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
31 d late
2024
17 d early
2023
27 d late
2022
21 d late
2021
32 d early
2020
24 d late
2019
28 d late
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€1.17M▲ 6.1%
2024 · €1.10M
2018: €685k
2019: €1.06M
2020: €925k
2021: €1.05M
2022: €819k
2023: €1.00M
2024: €1.10M
2018 → 2025
Working capital
€2.84M▲ 4.6%
2024 · €2.71M
2018: €2.30M
2019: €2.58M
2020: €2.19M
2021: €2.16M
2022: €2.08M
2023: €3.25M
2024: €2.71M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.79M-€1.91M▲ 6.8%€2.21M▲ 15.9%€2.22M▲ 0.1%€2.23M▲ 0.5%
Operating result€1.33M-€1.07M▼ 20.1%€1.33M▲ 24.2%€1.40M▲ 5.3%€1.47M▲ 5.2%
Net result€1.05M-€819k▼ 21.8%€1.00M▲ 22.2%€1.10M▲ 9.8%€1.17M▲ 6.1%
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 5% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.97M
Fixed assets
€180k▼ 7.9%
Current assets
€5.79M▼ 6.5%
Equity and liabilities €5.97M
Equity
€2.23M▲ 0.5%
Debt
€3.75M▼ 10.3%
The debt ratio falls from 65.3% to 62.7%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€1.54M▲
2024 · €1.46M
Cash flow
€1.23M▲
2024 · €1.16M
Solvency
37.3%▲
2024 · 34.7%
Current ratio
1.96▲
2024 · 1.78
Quick ratio
1.71▲
2024 · 1.33
Debt / equity
1.68▼
2024 · 1.88
ROE
52.4%▲
2024 · 49.6%
ROA
19.5%▲
2024 · 17.2%
Interest coverage
28.35▼
2024 · 28.75
Debt
€3.75M▼
2024 · €4.18M
Debt ≤ 1 year
€2.96M▼
2024 · €3.48M
Debt > 1 year
€39k▼
2024 · €60k
Income taxes
€249k▲
2024 · €249k
Staff costs
€1.53M▲
2024 · €1.51M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€6.39M€5.97M▼
Fixed assets21/28€196k€180k▼
Intangible fixed assets21€9k€3k▼
Tangible fixed assets22/27€187k€177k▼
Plant, machinery and equipment23€77k€84k▲
Furniture and vehicles24€76k€57k▼
Other tangible fixed assets26€33k€37k▲
Current assets29/58€6.20M€5.79M▼
Stocks and contracts in progress3€1.56M€736k▼
Stocks30/36€128k€129k▲
Contracts in progress37€1.43M€607k▼
Amounts receivable within one year40/41€3.32M€3.90M▲
Trade receivables40€2.55M€3.20M▲
Other amounts receivable41€760k€701k▼
Cash at bank and in hand54/58€1.29M€1.14M▼
Deferred charges and accrued income490/1€37k€22k▼
Equity and liabilities
Total equity and liabilities10/49€6.39M€5.97M▼
Equity10/15€2.22M€2.23M▲
Contributions10/11€150k€150k=
Capital10€150k€150k=
Issued capital100€150k€150k=
Reserves13€2.07M€2.08M▲
Non-distributable reserves130/1€15k€15k=
Legal reserve130€15k€15k=
Tax-exempt reserves132€19k€19k=
Distributable reserves133€2.03M€2.04M▲
Amounts payable17/49€4.18M€3.75M▼
Amounts payable after more than one year17€60k€39k▼
Financial debts170/4€60k€39k▼
Amounts payable within one year42/48€3.48M€2.96M▼
Current portion of amounts payable after more than one year42€20k€21k▲
Financial debts43€281k€281k=
Credit institutions430/8€21k€21k▼
Other loans439€260k€260k=
Trade debts44€1.46M€1.04M▼
Suppliers440/4€1.46M€1.04M▼
Taxes, remuneration and social security45€264k€271k▲
Taxes450/3€72k€66k▼
Remuneration and social security454/9€191k€205k▲
Other amounts payable47/48€1.46M€1.34M▼
Accrued charges and deferred income492/3€632k€751k▲
Income statement
Code20242025
Non-recurring operating income76A€16k€2k▼
Remuneration, social security and pensions62€1.51M€1.53M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€63k€68k▲
Other operating charges640/8€1k€1k▲
Gross operating margin9900€2.97M€3.07M▲
Operating profit (loss)9901€1.40M€1.47M▲
Financial income75/76B€4k€3k▼
Recurring financial income75€4k€3k▼
Financial charges65/66B€51k€54k▲
Recurring financial charges65€51k€54k▲
Profit (loss) for the period before taxes9903€1.35M€1.42M▲
Income taxes67/77€249k€249k▲
Profit (loss) for the period9904€1.10M€1.17M▲
Profit (loss) for the period to be appropriated9905€1.10M€1.17M▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.10M€1.17M▲
Transfer to equity691/2€3k€11k▲
To other reserves6921€3k€11k▲
Profit to be distributed694/7€1.10M€1.16M▲
Return on contributions (dividend)694€696k€696k=
Directors or managers695€400k€460k▲
Social balance
Average headcount (FTE)908724.024.9▲
The notes to these accounts (14 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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
31-12
Financial
Highest result since 2018net €1.17M ▲6.1%
Operating result €1.47M, net result €1.17M, both a record.
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 27 days late
2023
31-12
Financial
Equity above €2MEq €2.21M ▲15.9%
6 profitable years in a row build equity to €2.21M.
21-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 21 days late
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 24 days late
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 28 days late
2019
16-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
13-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Halen · 1 establishment unit since 1991
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.
Stadsbeemd 12073545 HalenGround area
2,395 m²
Building footprint
949 m²
Volume, LiDAR
7,088 m³
Parcel 71020B0269/00W002, Flanders · tallest building 8.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
INPICO
since 19912.054.722.393
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71020B0269/00W002 | Flanders | 2,395 m² | 1 · 949 m² | 8.7 m · 3 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 6,571 EUR awarded · 6,481 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,277 EUR | 2,202 EUR |
| 2024 | 1 | 1,034 EUR | 1,019 EUR |
| 2023 | 1 | 1,157 EUR | 1,157 EUR |
| 2022 | 1 | 2,103 EUR | 2,103 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Vlaams opleidingsverlof (VOV)
Recognitions · licences · registrations
Recognised contractor
1 categoryINPICO NV45553
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Of 361 companies in sector 25210 we hold annual accounts for 278. 177 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded24-09-1991
Fiscal year end31-12
Activities, NACEBEL
25210Manufacture of fabricated metal products, except machinery and equipment
25300Manufacture of fabricated metal products, except machinery and equipment
28300
42220Construction of utility projects for electricity and telecommunications
45215
Sources
Crossroads Bank for EnterprisesNational Bank · 34 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.