IPAQ
ActiveSummary
IPAQ has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €93,136 and a net result of €28,785. Equity is growing by ~38.6% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73▲+3
Solvency36▲+4
Growth78=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity short (current ratio 0.27 against 0.31 in 2024; short-term debt: 38.6% and cash: 0.7% of total assets), and 89.1% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
10.9%
Return on assets
3.4%
Age of the figures
9 mo
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 14-07-2026, 17 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
17 d early
2024
21 d early
2022
on the day
2021
17 d late
2020
26 d late
2019
24 d late
2018
28 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 8 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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 31 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€93,136▲ 44.7%
2024 · €64,351
Total assets
€856,196▼ 4.8%
2024 · €899,638
Net result
€28,785▲ 216%
2024 · €9,115
Working capital
-€240,304▼ 16.9%
2024 · -€205,609
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
Line20202021202220242025
Operating result€20,023▼ 37.3%€18,395▼ 8.1%€58,217▲ 216%€22,427-€49,538▲ 121%
Net result-€2,049-€1,942▲ 5.2%€29,203€9,115-€28,785▲ 216%
Equity€7,690▼ 21.0%€5,748▼ 25.3%€34,951▲ 508%€64,351-€93,136▲ 44.7%
Total assets€1.1m▼ 6.7%€1.1m▼ 6.6%€995,278▼ 5.9%€899,638-€856,196▼ 4.8%
Debt€1.1m▼ 6.6%€1.1m▼ 6.5%€960,327▼ 8.7%€835,287-€763,060▼ 8.6%
Working capital€12,316▼ 78.5%-€49,317-€89,718▼ 81.9%-€205,609--€240,304▼ 16.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result rises in 2025; 2025 is 121% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €856,196
Fixed assets
€765,672 ▼ 5.2%
Current assets
€90,524 ▼ 1.8%
Equity and liabilities €856,196
Equity
€93,136 ▲ 44.7%
Debt
€763,060 ▼ 8.6%
Debt's share of the balance-sheet total falls from 92.8% to 89.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€93,367▲
2024 · €63,849
Cash flow
€72,614▲
2024 · €50,537
Current ratio
0.27▼
2024 · 0.31
Debt to equity
8.19▼
2024 · 12.98
ROE
30.9%▲
2024 · 14.2%
ROA
3.4%▲
2024 · 1.0%
Interest coverage
8.43▲
2024 · 6.52
Debt ≤ 1 year
€330,828▲
2024 · €297,816
Debt > 1 year
€431,898▼
2024 · €535,262
Income taxes
€9,674▲
2024 · €3,512
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,105 companies that looked in July 2024 the way this one looks now, 0.9% went bankrupt within 24 months and 98% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
0.9%
went bankrupt
0.9%
stopped otherwise
98%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% 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 497,662 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% | 1.7% |
| 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 75% 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 4,105 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 | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €121 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €10,555 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €65,772 | €52,883 | €40,767 | €41,421 | €43,829 | ▲ 5.8% |
| Other operating charges640/8 | - | €6,923 | €7,071 | €8,042 | €7,695 | ▼ 4.3% |
| Gross operating margin9900 | €92,674 | €78,202 | €106,055 | €71,890 | €101,062 | ▲ 40.6% |
| Operating profit (loss)9901 | €20,023 | €18,395 | €58,217 | €22,427 | €49,538 | ▲ 121% |
| Financial income75/76B | - | €0 | - | €0 | €0 | ▲ 100% |
| Recurring financial income75 | - | €0 | - | €0 | €0 | ▲ 100% |
| Financial charges65/66B | - | €20,338 | €22,514 | €9,800 | €11,079 | ▲ 13.1% |
| Recurring financial charges65 | €22,072 | €20,338 | €22,514 | €9,800 | €11,079 | ▲ 13.1% |
| Profit (loss) for the period before taxes9903 | -€2,049 | -€1,942 | €35,703 | €12,628 | €38,459 | ▲ 205% |
| Income taxes67/77 | - | - | €6,500 | €3,512 | €9,674 | ▲ 175% |
| Profit (loss) for the period9904 | -€2,049 | -€1,942 | €29,203 | €9,115 | €28,785 | ▲ 216% |
| Profit (loss) for the period to be appropriated9905 | -€2,049 | -€1,942 | €29,203 | €9,115 | €28,785 | ▲ 216% |
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.1m | €1.1m | €995,278 | €899,638 | €856,196 | ▼ 4.8% |
| Fixed assets21/28 | €966,026 | €916,945 | €877,777 | €807,431 | €765,672 | ▼ 5.2% |
| Tangible fixed assets22/27 | €966,026 | €916,945 | €877,777 | €807,431 | €765,672 | ▼ 5.2% |
| Land and buildings22 | - | €913,209 | €873,348 | €793,627 | €753,766 | ▼ 5.0% |
| Furniture and vehicles24 | - | - | €1,453 | €387 | - | - |
| Other tangible fixed assets26 | - | €3,736 | €2,975 | €13,417 | €11,906 | ▼ 11.3% |
| Current assets29/58 | €166,860 | €140,780 | €117,501 | €92,207 | €90,524 | ▼ 1.8% |
| Cash at bank and in hand54/58 | €9,377 | €3,552 | €3,599 | €1,723 | €6,062 | ▲ 252% |
| Deferred charges and accrued income490/1 | - | €137,228 | €113,902 | €90,484 | €84,462 | ▼ 6.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.1m | €1.1m | €995,278 | €899,638 | €856,196 | ▼ 4.8% |
| Equity10/15 | €7,690 | €5,748 | €34,951 | €64,351 | €93,136 | ▲ 44.7% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€10,910 | -€12,852 | €16,351 | €45,751 | €74,536 | ▲ 62.9% |
| Amounts payable17/49 | €1.1m | €1.1m | €960,327 | €835,287 | €763,060 | ▼ 8.6% |
| Amounts payable after more than one year17 | €970,348 | €861,577 | €752,805 | €535,262 | €431,898 | ▼ 19.3% |
| Financial debts170/4 | - | €861,577 | €752,805 | €535,262 | €431,898 | ▼ 19.3% |
| Amounts payable within one year42/48 | €154,545 | €190,097 | €207,219 | €297,816 | €330,828 | ▲ 11.1% |
| Current portion of amounts payable after more than one year42 | - | €172,046 | €181,110 | €265,619 | €299,772 | ▲ 12.9% |
| Trade debts44 | - | - | - | €7,268 | - | - |
| Suppliers440/4 | - | - | - | €7,268 | - | - |
| Taxes, remuneration and social security45 | - | €875 | €6,500 | - | €3,625 | - |
| Taxes450/3 | - | €875 | €6,500 | - | €3,625 | - |
| Other amounts payable47/48 | - | €17,177 | €19,609 | €24,930 | €27,432 | ▲ 10.0% |
| Accrued charges and deferred income492/3 | - | €303 | €303 | €2,209 | €334 | ▼ 84.9% |
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,049 | -€1,942 | €29,203 | €9,115 | €28,785 | ▲ 216% |
| + Depreciation and write-downs630 | €65,772 | €52,883 | €40,767 | €41,421 | €43,829 | ▲ 5.8% |
| Operating cash flow (approximation) | €63,723 | €50,942 | €69,970 | €50,537 | €72,614 | ▲ 43.7% |
| Investment in fixed assets (approximation) | - | -€3,803 | -€1,599 | - | -€2,070 | - |
| Change in cash | - | -€5,825 | €47 | - | €4,338 | - |
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
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €29,203
Net result €29,203 after 2 loss-making years.
17-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 17 days late
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
31-12
Financial
Weakest financial yearnet -€2,049
Net result drops to -€2,049, the lowest in the series; recovery starts the following year.
24-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 24 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
25-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 25 days late
2017
18-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 18 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Chaudfontaine · 1 establishment unit since 2016
Ground area
3,552 m²
Parcel 62030A0004/00Y008, Wallonia. Linked by address, not a title deed.
1 establishment unit
IPAQ
since 20162.252.273.187
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62030A0004/00Y008indicative | Wallonia | 3,552 m² | - | - |
Linked by address, not proof of ownership
Good to know
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPrivate limited company
Founded25-04-2016
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0652795548
Registered
22-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.