INVES
ActiveSummary
The annual accounts of INVES for fiscal year 2025 show a net loss of 82% of the equity at the start of that year. The 2025 annual accounts show equity of €147,373 and a net result of -€694,666. Equity remains stable across the filed fiscal years (±2.4% per year). Its solvency ranks better than 12% of 3241 sector peers (fiscal year 2025). The company has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability36▼-4
Solvency31▼-20
Growth38=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.4 against 0.68 in 2024; short-term debt: 43.5% and cash: 0.4% of total assets), and 94.2% of the assets are financed with debt.
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Signals
Seven 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 · 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 -€694,666
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 12% of 3241 sector peers (2025).
NBB · sector comparisonPosition among 3241 sector peers
Solvency
better than 12%
← weakest
strongest →
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 24-05-2026, 68 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
68 d early
2024
7 d early
2023
86 d early
2022
9 d early
2021
2 d early
2020
32 d early
2019
44 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 23 days before 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. Usually files around 22 July (4 of the last 5 filed years within 59 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€191,273▲ 1.6%
2024 · €188,301
EBIT margin
-10.4%▼ 13.5pp
2024 · 3.2%
Net result
-€694,666▼ 37.2%
2024 · -€506,476
Working capital
-€664,642▼ 91.9%
2024 · -€346,314
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€184,301▲ 2.4%€188,960▲ 2.5%€194,315▲ 2.8%€188,301▼ 3.1%€191,273▲ 1.6%
Operating result€5,540€12,490▲ 125%€25,242▲ 102%€5,938▼ 76.5%-€19,830
Net result€23,388within the sector's middle half€40,340within the sector's middle half▲ 72.5%€37,947within the sector's middle half▼ 5.9%-€506,476below the sector's middle half-€694,666below the sector's middle half▼ 37.2%
EBIT margin3.0%▲ 4.2pp6.6%▲ 3.6pp13.0%▲ 6.4pp3.2%▼ 9.8pp-10.4%▼ 13.5pp
Equity€1.3mwithin the sector's middle half▲ 1.9%€1.3mwithin the sector's middle half▲ 3.2%€1.3mwithin the sector's middle half▲ 2.9%€842,039within the sector's middle half▼ 37.6%€147,373below the sector's middle half▼ 82.5%
Total assets€3.8mwithin the sector's middle half▼ 1.8%€3.7mwithin the sector's middle half▼ 2.2%€3.6mwithin the sector's middle half▼ 2.5%€3.3mwithin the sector's middle half▼ 8.7%€2.5mwithin the sector's middle half▼ 22.6%
Debt€2.2m▼ 2.7%€2.1m▼ 4.2%€2.0m▼ 4.7%€2.3m▲ 10.9%€2.2m▼ 2.0%
Working capital-€368,760below the sector's middle half▲ 0.9%-€342,950below the sector's middle half▲ 7.0%-€321,188below the sector's middle half▲ 6.3%-€346,314below the sector's middle half▼ 7.8%-€664,642below the sector's middle half▼ 91.9%
Solvency33.6%within the sector's middle half▲ 1.2pp35.4%within the sector's middle half▲ 1.9pp37.4%within the sector's middle half▲ 2.0pp25.6%within the sector's middle half▼ 11.8pp5.8%below the sector's middle half▼ 19.8pp
Current ratio0.54below the sector's middle half▲ 0.020.56within the sector's middle half▲ 0.030.58within the sector's middle half▲ 0.020.68within the sector's middle half▲ 0.100.40below the sector's middle half▼ 0.28
Return on assets (ROA)0.6%within the sector's middle half▲ 0.9pp1.1%within the sector's middle half▲ 0.5pp1.1%within the sector's middle half=-15.4%below the sector's middle half▼ 16.4pp-27.3%below the sector's middle half▼ 11.9pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €19,830 after €5,938 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.5m
Fixed assets
€2.1m ▼ 18.0%
Current assets
€444,073 ▼ 38.9%
Equity and liabilities €2.5m
Equity
€147,373 ▼ 82.5%
Provisions
€180,885 ▼ 2.4%
Debt
€2.2m ▼ 2.0%
Debt's share of the balance-sheet total rises from 68.8% to 87.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€83,418▼
2024 · €109,117
Cash flow
-€591,418▼
2024 · -€403,297
Debt to equity
15.05▲
2024 · 2.69
ROE
-471.4%▼
2024 · -60.1%
Interest coverage
0.45▼
2024 · 1.23
Debt ≤ 1 year
€1.1m▲
2024 · €1.1m
Debt > 1 year
€1.1m▼
2024 · €1.2m
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 |
|---|---|---|---|---|---|---|
| Turnover70 | €184,301 | €188,960 | €194,315 | €188,301 | €191,273 | ▲ 1.6% |
| Goods, raw materials, services and sundry goods60/61 | €57,438 | €54,500 | €44,303 | €56,141 | €59,065 | ▲ 5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €101,506 | €101,510 | €102,593 | €103,179 | €103,248 | ▲ 0.1% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €25,000 | - |
| Other operating charges640/8 | €19,817 | €20,460 | €22,177 | €23,043 | €23,790 | ▲ 3.2% |
| Gross operating margin9900 | €126,863 | €134,460 | €150,012 | €132,160 | €132,208 | = |
| Operating profit (loss)9901 | €5,540 | €12,490 | €25,242 | €5,938 | -€19,830 | ▼ 434% |
| Financial income75/76B | €63,360 | €73,657 | €74,454 | €7,040 | €26,060 | ▲ 270% |
| Recurring financial income75 | €4,160 | €4,590 | €5,387 | €7,040 | €8,060 | ▲ 14.5% |
| Non-recurring financial income76B | €59,200 | €69,067 | €69,067 | - | €18,000 | - |
| Financial charges65/66B | €74,964 | €75,259 | €91,201 | €548,906 | €730,348 | ▲ 33.1% |
| Recurring financial charges65 | €74,964 | €75,259 | €91,201 | €88,675 | €184,448 | ▲ 108% |
| Non-recurring financial charges66B | - | - | - | €460,231 | €545,900 | ▲ 18.6% |
| Profit (loss) for the period before taxes9903 | -€6,064 | €10,888 | €8,495 | -€535,928 | -€724,118 | ▼ 35.1% |
| Transfer from deferred taxes780 | €29,452 | €29,452 | €29,452 | €29,452 | €29,452 | = |
| Profit (loss) for the period9904 | €23,388 | €40,340 | €37,947 | -€506,476 | -€694,666 | ▼ 37.2% |
| Transfer from tax-exempt reserves789 | €28,154 | €28,154 | €28,154 | €28,154 | €28,154 | = |
| Profit (loss) for the period to be appropriated9905 | €51,542 | €68,494 | €66,101 | -€478,322 | -€666,512 | ▼ 39.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.8m | €3.7m | €3.6m | €3.3m | €2.5m | ▼ 22.6% |
| Fixed assets21/28 | €3.4m | €3.3m | €3.2m | €2.6m | €2.1m | ▼ 18.0% |
| Tangible fixed assets22/27 | €953,384 | €855,122 | €757,810 | €662,960 | €560,721 | ▼ 15.4% |
| Land and buildings22 | €945,390 | €845,158 | €744,926 | €651,482 | €551,085 | ▼ 15.4% |
| Furniture and vehicles24 | €7,994 | €9,964 | €12,884 | €11,478 | €9,636 | ▼ 16.0% |
| Financial fixed assets28 | €2.4m | €2.4m | €2.4m | €1.9m | €1.5m | ▼ 18.9% |
| Current assets29/58 | €427,350 | €441,562 | €445,591 | €726,677 | €444,073 | ▼ 38.9% |
| Amounts receivable within one year40/41 | €235,130 | €247,955 | €311,612 | €377,539 | €431,056 | ▲ 14.2% |
| Trade receivables40 | - | €13,000 | €13,000 | - | - | - |
| Other amounts receivable41 | €235,130 | €234,955 | €298,612 | €377,539 | €431,056 | ▲ 14.2% |
| Current investments50/53 | €165,748 | €165,748 | €105,806 | €329,211 | €2,068 | ▼ 99.4% |
| Cash at bank and in hand54/58 | €26,472 | €27,859 | €28,173 | €19,927 | €10,949 | ▼ 45.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.8m | €3.7m | €3.6m | €3.3m | €2.5m | ▼ 22.6% |
| Equity10/15 | €1.3m | €1.3m | €1.3m | €842,039 | €147,373 | ▼ 82.5% |
| Contributions10/11 | €773,500 | €773,500 | €773,500 | €773,500 | €773,500 | = |
| Capital10 | €773,500 | €773,500 | €773,500 | €773,500 | €773,500 | = |
| Issued capital100 | €773,500 | €773,500 | €773,500 | €773,500 | €773,500 | = |
| Reserves13 | €913,430 | €942,882 | €972,334 | €991,787 | €1.0m | ▲ 3.0% |
| Non-distributable reserves130/1 | €25,000 | €25,000 | €25,000 | €248,400 | €25,000 | ▼ 89.9% |
| Legal reserve130 | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Own shares acquired1312 | - | - | - | €223,400 | €0 | ▼ 100% |
| Tax-exempt reserves132 | €261,629 | €233,475 | €205,321 | €177,167 | €149,013 | ▼ 15.9% |
| Distributable reserves133 | €626,801 | €684,407 | €742,013 | €566,220 | €847,226 | ▲ 49.6% |
| Profit (loss) carried forward14 | -€416,703 | -€405,815 | -€397,320 | -€923,248 | -€1.6m | ▼ 78.4% |
| Provisions and deferred taxes16 | €273,694 | €244,242 | €214,789 | €185,337 | €180,885 | ▼ 2.4% |
| Provisions for liabilities and charges160/5 | - | - | - | - | €25,000 | - |
| Major repairs and maintenance162 | - | - | - | - | €25,000 | - |
| Deferred taxes168 | €273,694 | €244,242 | €214,789 | €185,337 | €155,885 | ▼ 15.9% |
| Amounts payable17/49 | €2.2m | €2.1m | €2.0m | €2.3m | €2.2m | ▼ 2.0% |
| Amounts payable after more than one year17 | €1.4m | €1.3m | €1.2m | €1.2m | €1.1m | ▼ 7.3% |
| Financial debts170/4 | €1.4m | €1.3m | €1.2m | €1.1m | €1.1m | ▼ 7.3% |
| Other amounts payable178/9 | €1,641 | €1,641 | €1,645 | €1,649 | €1,999 | ▲ 21.2% |
| Amounts payable within one year42/48 | €796,110 | €784,512 | €766,779 | €1.1m | €1.1m | ▲ 3.3% |
| Current portion of amounts payable after more than one year42 | €84,164 | €84,164 | €84,164 | €84,164 | €84,164 | = |
| Trade debts44 | €2,026 | €1,496 | €400 | €6,182 | €7,679 | ▲ 24.2% |
| Suppliers440/4 | €2,026 | €1,496 | €400 | €6,182 | €7,679 | ▲ 24.2% |
| Taxes, remuneration and social security45 | €16,395 | €34,748 | €34,978 | €53,450 | €18,139 | ▼ 66.1% |
| Taxes450/3 | €16,395 | €34,748 | €34,978 | €53,450 | €18,139 | ▼ 66.1% |
| Other amounts payable47/48 | €693,525 | €664,104 | €647,237 | €929,195 | €998,733 | ▲ 7.5% |
| Accrued charges and deferred income492/3 | €38,256 | €39,080 | €39,616 | €39,960 | €42,325 | ▲ 5.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,388 | €40,340 | €37,947 | -€506,476 | -€694,666 | ▼ 37.2% |
| + Depreciation and write-downs630 | €101,506 | €101,510 | €102,593 | €103,179 | €103,248 | ▲ 0.1% |
| Operating cash flow (approximation) | €124,894 | €141,850 | €140,540 | -€403,297 | -€591,418 | ▼ 46.6% |
| Investment in fixed assets (approximation) | - | -€3,248 | -€5,701 | €491,438 | €358,991 | ▼ 27.0% |
| Change in cash | - | €1,387 | €314 | -€8,246 | -€8,978 | ▼ 8.9% |
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
02-06
State Gazette act
RestructuringDemerger · Shareholding · Accounting effect13 facts ▸
State Gazette act
Restructuring
Demerger · Shareholding · Accounting effect13 facts ▸
- Demerger, partial demerger, apport d'actifs et de passifs
- Demerger, partial demerger, apport d'actifs et de passifs
- Other statement, elements_transferred_to_VARS, 31-12-2025
- Other statement, elements_retained_by_INVES, 31-12-2025
- Other statement, 1 action de VARS pour 1 action d'INVES, exchange ratio
- Shareholding, actions sans valeur nominale, 200
- Shareholding, actions sans valeur nominale, 200
- Shareholding, actions sans valeur nominale, 225
- Shareholding, actions sans valeur nominale, 225
- Accounting effect, 01-01-2026
- Other statement, legal effective date, date de l'inscription de la scission au registre des personnes morales
- Other statement, demerger motives
- +1 further facts in this act
24-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet -€694,666
Net result drops to -€694,666, the lowest in the series.
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
06-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
22-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €40,340 ▲72.5%
Net result €40,340, the highest in the series.
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €23,388
Net result €23,388 after 3 loss-making years.
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
13-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 44 days late
13-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 410 days late
2018
05-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 36 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 8 acts read
About the unread acts
Of the 8 Belgian State Gazette acts we know for this company, 1 has been read. The other 7 have not 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 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Braine-l'Alleud · 1 establishment unit since 1996
Ground area
5,118 m²
Building footprint
678 m²
Volume, LiDAR
4,277 m³
2 parcels, Wallonia · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Drève des Pins 50, 1420 Braine-l'Alleud
since 19962.050.657.006
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25743K0019/00A003 | Wallonia | 4,947 m² | 1 · 605 m² | 9.4 m · 2 fl. |
| 25743F0099/00Y002 | Wallonia | 171 m² | 1 · 73 m² | 9.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Articles of association
Other statement
One provision in the deed
Structure & network
Owners and holdings
1 owner · 1 holdingOwners 1
-
17.6%
Holdings 1
-
100%
According to the 2025 annual accounts of INVES 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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Identification & contact
Identification
Legal formPublic limited company
Founded21-11-1990
Fiscal year end31-12
Abbreviation FR
TOSC
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0442064236
Also
9925:BE0442064236
Registered
12-07-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.