Checked.be
Active
BE 0759.763.584Private limited company
IPC-GHG
Rue de la Ramée(Jauch.) 22 ·1370 Jodoigne, Belgium· 5 yrs active
Sector: Vocational training
(85592)
Conclusion
IPC-GHG has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (€-8k) and a net result of €-5k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 15% of 2541 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €-8k |
| Net result | €-5k |
| Better than sector | 15% |
| Active | 5 yrs |
Financial profile
57
/ 100
Mixed profile: strong on profitability, weaker on health.
All 5 axes are computed from data Checked has read.
Health
25
Profitability
100
Solvency
33
Growth
32
Stability
94
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
More than 3 years active
Founded in 2020, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
25
/ 100
Weak
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
No credit
negative equity or figures too weak
Score history
43
2021
7
2022
16
2023
25
2024
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.18 (< 1.0)
-10
Quick ratio
Quick ratio 0.18 (< 0.6)
-5
Equity
Negative equity
-25
Profitability
ROE 61% (≥ 10%)
+10
Interest coverage
Interest coverage 47.2× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Financial overview
Annual accounts filed on 20-06-2025 with the NBB · fiscal year 2024 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
volatile
Too volatile to project: the yearly deviation from the trend is ~99% of the level (threshold 35%). We therefore deliberately show no projection line.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2024 · NACE 85, Education · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -11.3% | 45.8% | |
| Net result | €-5k | €7k | |
| Equity | €-8k | €34k | |
| Gross operating margin | €17k | €26k | |
| Total assets | €68k | €95k |
€17k
-30.1%
21-24
€-5k
-
21-24
€16k
-30.4%
21-24
€68k
-31.2%
21-24
€-8k
-157.6%
21-24
€-63k
+14.4%
21-24
€140
+13.2%
21-24
€76k
-25.6%
21-24
€76k
-22.6%
21-24
€4k
-49.6%
21-24
0.18
-31.0%
21-24
0.18
-31.0%
21-24
-11.3%
-274.4%
21-24
-9.83
+71.1%
21-24
61.2%
-
21-24
-6.9%
-
21-24
47.22
-8.4%
21-24
Figures by fiscal year and ratios
Change versus the prior fiscal year, coloured by direction (green = favourable).
| Fiscal year | 2024 Δ | 2023 Δ | 2022 Δ | 2021 Δ |
|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - |
| EBITDA | -30.1% | - | - | - |
| Net profit | - | - | - | - |
| Cash flow | -30.4% | - | - | - |
| Staff costs | - | - | - | - |
| Income taxes | +13.2% | +10.0% | -97.9% | - |
| Dividends | - | - | - | - |
| Total assets | -31.2% | -20.7% | -28.0% | - |
| Equity | -157.6% | +45.2% | - | - |
| Debt | -25.6% | -21.8% | -11.7% | - |
| of which ≤ 1y | -22.6% | -19.9% | -9.8% | - |
| of which > 1y | - | -49.6% | -32.8% | - |
| Working capital | +14.4% | +20.0% | -19.3% | - |
| Employees (FTE) | - | - | - | - |
Ratios (computed)
| 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
| Current ratio | 0.18 | 0.25 | 0.25 | 0.44 |
| Quick ratio | 0.18 | 0.25 | 0.25 | 0.44 |
| Working capital ratio | -91.8% | -73.8% | -73.1% | -44.1% |
| Solvency | -11.3% | -3.0% | -4.4% | 15.0% |
| Debt / equity | -9.83 | -34.07 | -23.86 | 5.68 |
| Long-term debt ratio | - | -1.34 | -1.46 | 0.46 |
| Interest coverage | 47.22 | 51.55 | -17.37 | 80.10 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | -6.9% | 2.5% | -25.2% | 12.1% |
| ROE | 61.2% | -82.5% | 575.5% | 80.8% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2024
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €68k | €99k | €125k | €174k |
| Fixed assets | 21/28 | €55k | €74k | €94k | €115k |
| Intangible fixed assets | 21 | €42k | €57k | €71k | €85k |
| Tangible fixed assets | 22/27 | €13k | €18k | €23k | €30k |
| Current assets | 29/58 | €13k | €25k | €31k | €59k |
| Amounts receivable within one year | 40/41 | €5k | €707 | €728 | €30k |
| Cash & bank | 54/58 | €8k | €23k | €29k | €28k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €68k | €99k | €125k | €174k |
| Equity | 10/15 | €-8k | €-3k | €-5k | €26k |
| Contributions / capital | 10/11 | €5k | €5k | €5k | €5k |
| Accumulated profits (losses) | 14 | €-13k | €-8k | €-10k | €21k |
| Amounts payable | 17/49 | €76k | €102k | €131k | €148k |
| Amounts payable after one year | 17 | - | €4k | €8k | €12k |
| Amounts payable within one year | 42/48 | €76k | €98k | €123k | €136k |
| Trade debts payable within one year | 44 | €852 | €831 | €1k | €30k |
| Income statement | |||||
| Gross operating margin | 9900 | €17k | €24k | €-10k | €43k |
| Operating result | 9901 | €-4k | €3k | €-31k | €27k |
| Financial income | 75 | €3 | €5 | €4 | €17 |
| Financial charges | 65 | €353 | €463 | €589 | €530 |
| Result before taxes | 9903 | €-5k | €3k | €-31k | €26k |
| Income taxes | 67/77 | €140 | €123 | €112 | €5k |
| Net result for the period | 9904 | €-5k | €2k | €-32k | €21k |
| Result to be appropriated | 9905 | €-5k | €2k | €-32k | €21k |
Legal Structure
| NACE primary | Vocational training(85592) |
| Legal form | Private limited company(610) |
| Incorporation | 14-12-2020 |
| Status | Active |
| Postal code | 1370 |
Establishment units
IPC-GHG
since 20202.311.352.721
Real-estate footprint
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25047B0093/00D000 | Wallonia | 547 m² | 1 · 110 m² | 6.8 m · 2 fl. |
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.
Updates
2025
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
13-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-32k ▼250%
Net result drops to €-32k, the lowest in the series; recovery starts the following year.
19-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Vocational training85592Other business support services82990Other education85599Human health activities86904Human health activities86909Psychology services86931Nutrition and dietetics services86995
Names & trade names
| Legal nameFR | IPC-GHG |
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