Private limited company · founded 2019 · 6 yrs activeVriesenrot (STG) 3, 9200 Dendermonde, BelgiumKBO/BCE: BE 0738.887.701
Summary
The computed 12-month bankruptcy probability of IPC SERVICES is 1.6% (moderate). The 2025 annual accounts show equity of €1.6m and a net result of €712,468. Equity is growing by ~38% per year across the filed fiscal years. Its solvency ranks better than 66% of 7900 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
How financially healthy the company is, how likely a bankruptcy is and how much credit is sensible. Start here to know whether you can do business safely.
Score 2025
Checked score
A figure from 0 to 100 for financial health from the latest annual accounts: the higher, the healthier. Without a figure, the card says why. A low score is a reason to look closely at payment terms and security.
Four sides of financial health side by side. You see at a glance where the company is strong and where it is vulnerable.
Profitability100▲+83
Solvency83▲+20
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
Bankruptcy probability
The chance that this company goes bankrupt within twelve months. A low chance is reassuring; with a higher one, agree shorter payment terms or an advance.
1.6%Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €100,000 at 30 days acceptable
Liquidity ample (current ratio 2.45 against 1.64 in 2024; short-term debt: 39.2% and cash: 2.6% of total assets), and 42.4% of the assets are financed with debt.
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 43 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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.
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
History
History
The company's story in a few sentences, from the company register, the Belgian State Gazette and the filed annual accounts. Each number opens the document the sentence rests on.
IPC SERVICES was incorporated on 9 December 2019 as a Private limited company.1Since 2026, WP CONSULTING has served as director of the company.2Total assets rose from EUR 858,136 in 2020 to EUR 2.8 million in 2025 and headcount from 2.8 to 9 full-time equivalents.3
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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
Net result€345,268above the sector's middle half▲ 629%€212,102above the sector's middle half▼ 38.6%€306,401above the sector's middle half▲ 44.5%-€39,690below the sector's middle half€712,468above the sector's middle half
EBIT margin6.7%
Equity€412,657within the sector's middle half▲ 512%€624,759within the sector's middle half▲ 51.4%€931,160above the sector's middle half▲ 49.0%€891,470above the sector's middle half▼ 4.3%€1.6mabove the sector's middle half▲ 79.9%
Total assets€2.5mabove the sector's middle half▲ 197%€2.0mabove the sector's middle half▼ 22.8%€1.9mabove the sector's middle half▼ 1.1%€2.3mabove the sector's middle half▲ 20.7%€2.8mabove the sector's middle half▲ 18.8%
Working capital€358,779▲ 23.3%€531,234▲ 48.1%€860,819▲ 62.0%€870,498▲ 1.1%€1.6m▲ 81.1%
Solvency16.2%below the sector's middle half▲ 8.4pp31.8%within the sector's middle half▲ 15.6pp48.0%within the sector's middle half▲ 16.2pp38.1%within the sector's middle half▼ 9.9pp57.6%within the sector's middle half▲ 19.6pp
Staff (FTE)2.4below the sector's middle half▼ 14.3%4.3within the sector's middle half▲ 79.2%7.3within the sector's middle half▲ 69.8%7.6within the sector's middle half▲ 4.1%9within the sector's middle half▲ 18.4%
abovewithinbelowthe middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €968,259 after a loss of €73,769 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.8m
95.8%
Fixed assets€115,944 ▲ 1.8%
Current assets€2.7m ▲ 19.7%
Equity and liabilities €2.8m
57.6%
42.4%
Equity€1.6m ▲ 79.9%
Debt€1.2m ▼ 18.7%
Debt's share of the balance-sheet total falls from 61.9% to 42.4%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€1.0m▲
2024 · -€29,015
Cash flow
€760,944▲
2024 · €5,063
Current ratio
2.45▲
2024 · 1.64
Quick ratio
1.93▲
2024 · 1.47
Debt to equity
0.74▼
2024 · 1.63
ROE
44.4%▲
2024 · -4.5%
ROA
25.6%▲
2024 · -1.7%
Interest coverage
241.43▲
2024 · -4.28
Debt ≤ 1 year
€1.1m▼
2024 · €1.4m
Debt > 1 year
€72,291▼
2024 · €76,616
Income taxes
€253,612▲
2024 · €5,047
Staff costs
€651,174▲
2024 · €508,490
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observation
Peer companies
What happened to companies that once looked just like this one does now. It describes the group, not this company: the figures are counted, not predicted.
Of the 26,964 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
Micro
5 to 10 years old
solvency 30% or more
a profit of 5% of the balance sheet or more
1.5%went bankrupt
3.4%stopped otherwise
95%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 1.6% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
The companies in ten equal groups, from lowest to highest expected share.
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%
1.6%
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 74% 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 26,964 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
Filed annual accountsAs filed with the NBB · 2025 against 2024 · 51 lines
Balance sheetCode20242025
Assets
Total assets20/58€2.3m€2.8m▲
Fixed assets21/28€113,935€115,944▲
Tangible fixed assets22/27€113,935€115,944▲
Plant, machinery and equipment23€15,306€44,390▲
Furniture and vehicles24€63,388€43,405▼
Leasing and similar rights25€15,805€11,532▼
Other tangible fixed assets26€19,436€16,617▼
Current assets29/58€2.2m€2.7m▲
Stocks and contracts in progress3€237,721€560,104▲
Stocks30/36€42,489€77,179▲
Contracts in progress37€195,232€482,925▲
Amounts receivable within one year40/41€1.9m€2.0m▲
Trade receivables40€1.8m€1.3m▼
Other amounts receivable41€109,687€710,106▲
Cash at bank and in hand54/58€44,099€72,707▲
Deferred charges and accrued income490/1€14,280€2,438▼
Equity and liabilities
Total equity and liabilities10/49€2.3m€2.8m▲
Equity10/15€891,470€1.6m▲
Contributions10/11€20,000€20,000=
Profit (loss) carried forward14€871,470€1.6m▲
Amounts payable17/49€1.5m€1.2m▼
Amounts payable after more than one year17€76,616€72,291▼
Financial debts170/4€76,616€72,291▼
Amounts payable within one year42/48€1.4m€1.1m▼
Current portion of amounts payable after more than one year42€4,149€4,325▲
Trade debts44€1.2m€779,606▼
Suppliers440/4€1.2m€779,606▼
Taxes, remuneration and social security45€44,057€306,621▲
Taxes450/3€5,890€262,531▲
Remuneration and social security454/9€38,167€44,090▲
Other amounts payable47/48€106,890-
Accrued charges and deferred income492/3€16,346€16,397▲
Income statementCode20242025
Remuneration, social security and pensions62€508,490€651,174▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€44,753€48,476▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€37,285€42,420▲
Other operating charges640/8€4,045€23,315▲
Non-recurring operating charges66A€43,510€5,960▼
Gross operating margin9900€564,315€1.7m▲
Operating profit (loss)9901-€73,769€968,259▲
Financial income75/76B€45,899€2,032▼
Recurring financial income75€2,562€2,032▼
Non-recurring financial income76B€43,337-
Financial charges65/66B€6,773€4,211▼
Recurring financial charges65€6,773€4,211▼
Profit (loss) for the period before taxes9903-€34,643€966,080▲
Income taxes67/77€5,047€253,612▲
Profit (loss) for the period9904-€39,690€712,468▲
Profit (loss) for the period to be appropriated9905-€39,690€712,468▲
Appropriation of the result
Profit (loss) to be appropriated9906€871,470€1.6m▲
Profit (loss) brought forward from the previous period14P€911,160€871,470▼
Social balance
Average headcount (FTE)90877.69.0▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Line
2021
2022
2023
2024
2025
Change
Operating income70/76A
-
€4.2m
-
-
-
-
Turnover70
-
€4.5m
-
-
-
-
Change in stocks of work in progress, finished goods and contracts in progress71
-
-€354,700
-
-
-
-
Other operating income74
-
€41,952
-
-
-
-
Operating charges60/66A
-
€3.9m
-
-
-
-
Goods for resale, raw materials and consumables60
-
€2.4m
-
-
-
-
Purchases600/8
-
€2.4m
-
-
-
-
Change in stocks: decrease (increase)609
-
€20,358
-
-
-
-
Services and other goods61
-
€1.1m
-
-
-
-
Remuneration, social security and pensions62
€263,850
€354,661
€487,147
€508,490
€651,174
▲ 28.1%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630
€15,823
€34,170
€46,434
€44,753
€48,476
▲ 8.3%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4
€28,746
€27,030
-€9,423
€37,285
€42,420
▲ 13.8%
Other operating charges640/8
€644
€4,225
€14,378
€4,045
€23,315
▲ 476%
Non-recurring operating charges66A
-
-
-
€43,510
€5,960
▼ 86.3%
Gross operating margin9900
€785,391
-
€970,540
€564,315
€1.7m
▲ 208%
Operating profit (loss)9901
€476,328
€303,053
€432,004
-€73,769
€968,259
▲ 1,413%
Financial income75/76B
€87
€335
€12,317
€45,899
€2,032
▼ 95.6%
Recurring financial income75
€87
€335
€12,317
€2,562
€2,032
▼ 20.7%
Other financial income752/9
-
€335
-
-
-
-
Non-recurring financial income76B
-
-
-
€43,337
-
-
Financial charges65/66B
€9,749
€9,040
€19,993
€6,773
€4,211
▼ 37.8%
Recurring financial charges65
€9,749
€9,040
€19,993
€6,773
€4,211
▼ 37.8%
Debt charges650
-
€7,537
-
-
-
-
Other financial charges652/9
-
€1,503
-
-
-
-
Profit (loss) for the period before taxes9903
€466,666
€294,348
€424,328
-€34,643
€966,080
▲ 2,889%
Income taxes67/77
€121,397
€82,246
€117,927
€5,047
€253,612
▲ 4,925%
Taxes670/3
-
€82,246
-
-
-
-
Profit (loss) for the period9904
€345,268
€212,102
€306,401
-€39,690
€712,468
▲ 1,895%
Profit (loss) for the period to be appropriated9905
€345,268
€212,102
€306,401
-€39,690
€712,468
▲ 1,895%
Line
2021
2022
2023
2024
2025
Change
Assets
Total assets20/58
€2.5m
€2.0m
€1.9m
€2.3m
€2.8m
▲ 18.8%
Fixed assets21/28
€74,779
€137,653
€112,585
€113,935
€115,944
▲ 1.8%
Tangible fixed assets22/27
€74,779
€137,653
€112,585
€113,935
€115,944
▲ 1.8%
Plant, machinery and equipment23
€26,408
€45,135
€22,454
€15,306
€44,390
▲ 190%
Furniture and vehicles24
€2,382
€1,241
€100
€63,388
€43,405
▼ 31.5%
Leasing and similar rights25
€29,129
€66,203
€67,776
€15,805
€11,532
▼ 27.0%
Other tangible fixed assets26
€16,859
€25,074
€22,255
€19,436
€16,617
▼ 14.5%
Current assets29/58
€2.5m
€1.8m
€1.8m
€2.2m
€2.7m
▲ 19.7%
Stocks and contracts in progress3
€594,483
€219,425
€529,970
€237,721
€560,104
▲ 136%
Stocks30/36
€63,643
€43,285
€65,844
€42,489
€77,179
▲ 81.6%
Goods purchased for resale34
-
€43,285
-
-
-
-
Contracts in progress37
€530,840
€176,139
€464,126
€195,232
€482,925
▲ 147%
Amounts receivable within one year40/41
€1.7m
€1.5m
€1.1m
€1.9m
€2.0m
▲ 5.2%
Trade receivables40
€1.2m
€1.1m
€1.0m
€1.8m
€1.3m
▼ 27.5%
Other amounts receivable41
€568,900
€416,958
€112,083
€109,687
€710,106
▲ 547%
Cash at bank and in hand54/58
€152,088
€116,726
€159,945
€44,099
€72,707
▲ 64.9%
Deferred charges and accrued income490/1
€1,423
-
€15,228
€14,280
€2,438
▼ 82.9%
Equity and liabilities
Total equity and liabilities10/49
€2.5m
€2.0m
€1.9m
€2.3m
€2.8m
▲ 18.8%
Equity10/15
€412,657
€624,759
€931,160
€891,470
€1.6m
▲ 79.9%
Contributions10/11
€20,000
€20,000
€20,000
€20,000
€20,000
=
Profit (loss) carried forward14
€392,657
€604,759
€911,160
€871,470
€1.6m
▲ 81.8%
Amounts payable17/49
€2.1m
€1.3m
€1.0m
€1.5m
€1.2m
▼ 18.7%
Amounts payable after more than one year17
€18,401
€44,128
€42,244
€76,616
€72,291
▼ 5.6%
Financial debts170/4
€18,401
€44,128
€42,244
€76,616
€72,291
▼ 5.6%
Leasing and similar obligations172
-
€44,128
-
-
-
-
Amounts payable within one year42/48
€2.1m
€1.3m
€967,395
€1.4m
€1.1m
▼ 19.7%
Current portion of amounts payable after more than one year42
€126,531
€36,477
€118,519
€4,149
€4,325
▲ 4.2%
Financial debts43
€300,000
€300,000
-
-
-
-
Credit institutions430/8
€300,000
€300,000
-
-
-
-
Trade debts44
€1.2m
€828,248
€648,699
€1.2m
€779,606
▼ 35.2%
Suppliers440/4
€1.2m
€828,248
€648,699
€1.2m
€779,606
▼ 35.2%
Advances received on contracts in progress46
€645
€13,000
€20,462
-
-
-
Taxes, remuneration and social security45
€28,422
€90,112
€29,715
€44,057
€306,621
▲ 596%
Taxes450/3
-
€44,567
-
€5,890
€262,531
▲ 4,357%
Remuneration and social security454/9
€28,422
€45,546
€29,715
€38,167
€44,090
▲ 15.5%
Other amounts payable47/48
€445,496
€26,550
€150,000
€106,890
-
-
Accrued charges and deferred income492/3
€2,500
-
-
€16,346
€16,397
▲ 0.3%
Line
2021
2022
2023
2024
2025
Change
Profit (loss) for the period9904
€345,268
€212,102
€306,401
-€39,690
€712,468
▲ 1,895%
+ Depreciation and write-downs630
€15,823
€34,170
€46,434
€44,753
€48,476
▲ 8.3%
Operating cash flow (approximation)
€361,091
€246,271
€352,835
€5,063
€760,944
▲ 14,929%
Investment in fixed assets (approximation)
-
-€97,044
-€21,366
-€46,103
-€50,484
▼ 9.5%
Change in cash
-
-€35,362
€43,219
-€115,847
€28,608
▲ 125%
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
What happened to the company over the years, from its founding to recent changes. Many changes in a short time are a reason to ask questions.
Next filing, fiscal year 2026, expected by
31-07-2027
2026
09-07
NBB filingAnnual accounts filed
fiscal year 2025 · abbreviated schema
23-03
State Gazette actResignation: DC ADVISORY BV (director)
Appointment: WP CONSULTING BV (director) · Permanent representatives: Dominique Charlier, Wouter Pauwels and Krista De Vos · Director discharge9 facts ▸
General meeting, 26/02/2026
Director resignation, DC ADVISORY BV (director)
Director discharge, DC ADVISORY BV
Director appointment, WP CONSULTING BV (director)
Mandate compensation, WP CONSULTING BV
Permanent representative, Dominique Charlier
Permanent representative, Wouter Pauwels
Permanent representative, Krista De Vos
Power of attorney, Yannick Van den Broeke
2025
31-12
FinancialBack to profitnet €712,468
Net result €712,468 after one loss-making year.
31-12
FinancialEquity above €1mEq €1.6m ▲79.9%
Equity rises from €891,470 to €1.6m.
11-07
NBB filingAnnual accounts filed
fiscal year 2024 · abbreviated schema
10-03
NBB filingAnnual accounts filed
fiscal year 2023 · abbreviated schema · 222 days late
2024
31-12
FinancialWeakest financial yearnet -€39,690
Net result drops to -€39,690, the lowest in the series; recovery starts the following year.
2023
26-07
NBB filingAnnual accounts filed
fiscal year 2022 · full schema
2022
31-12
FinancialEquity above €500,000Eq €624,759 ▲51.4%
3 profitable years in a row build equity to €624,759.
31-08
NBB filingAnnual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
FinancialEquity above €200,000Eq €412,657 ▲512%
2 profitable years in a row build equity to €412,657.
22-09
NBB filingAnnual accounts filed
fiscal year 2020 · abbreviated schema · 53 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
Who runs the company and where it is based. It tells you who you are talking to and whether the address checks out.
Directors
Directors
Who runs the company today and since when, grouped the way the CBE groups its function holders. Many recent board changes are a reason to keep a close eye.
Director · since 26-02-2026 · Private limited company · perm. rep.: Wouter Pauwels
Current
Permanent representatives 1
PW
Wouter Pauwels
Permanent representative · since 26-02-2026 · for WP CONSULTING
Current
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
8 of this company's 9 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Location & real estate
Where the company is based and which parcels are linked to its addresses. An address shared by many companies is often a registered-office service.
Registered office, Dendermonde · 1 establishment unit since 2019
The establishment unit on the mapLoading the map
seatestablishmentThe establishment unit on the map
Ground area
4,696 m²
Building footprint
1,151 m²
Volume, LiDAR
6,468 m³
Parcel 42021A1027/00R000, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
IPC SERVICES
Vriesenrot (STG) 3, 9200 DendermondeManufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
since 20192.297.990.871
1 parcel
Flanders1(100%)
Parcel (capakey)
Region
Area
Buildings
Height / fl.
42021A1027/00R000
Flanders
4,696 m²
1 · 1,151 m²
8.0 m · 2 fl.
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.
Mandate history
Mandate history
Who held which function and when, per person: one bar per period, from appointment to resignation or to today. An open left edge means the mandate began before the oldest act we hold.
Who owns the company and which companies it holds shares in, as the companies file it in their annual accounts. It shows which group it belongs to and who ultimately stands behind it.
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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
Connections & network
Which other companies are linked to this one through directors or shares. Look especially for linked companies in trouble.
9 connected companies
Depth
Shared directors
This companyCompanyDirectorShareholding+N: links not shown yetClick a node to look further, drag to arrange, scroll to zoom.
Of 153 companies in sector 43342 we hold annual accounts for 67. 27 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Company details
The company's official details: legal form, status, activities and founding date. Useful to draw up an invoice or contract correctly.