IPECA
ActiveSummary
IPECA has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €158k and a net result of €113k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 35% of 685 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+11
Solvency61▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12k at 30 days acceptable
Liquidity tight (current ratio 1.34 against 1.32 in 2024; short-term debt: 62.8% and cash: 77.7% of total assets), and 64% of the assets are financed with debt.
Credit check 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 85
Relative position
BE, all sectors
reference
Education (NACE 85)
about 77% 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
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
36%
Return on assets
25.7%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €158k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 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
25 d late
2024
21 d late
2023
50 d late
2022
62 d late
2021
3 d early
2020
31 d late
2019
32 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€158k▲ 73.2%
2024 · €91k
2018: €-10klowest in 8 years
2019: €-7k▲ +28.7% vs 2018
2020: €11k▲ +250% vs 2019
2021: €67k▲ +518% vs 2020
2022: €29k▼ -56.8% vs 2021
2023: €46k▲ +59.7% vs 2022
2024: €91k▲ +97.1% vs 2023
2025: €158k▲ +73.2% vs 2024highest in 8 years
2018 → 2025
Total assets
€441k▲ 59.1%
2024 · €277k
2018: €59klowest in 8 years
2019: €89k▲ +49.0% vs 2018
2020: €113k▲ +27.5% vs 2019
2021: €184k▲ +62.7% vs 2020
2022: €96k▼ -47.8% vs 2021
2023: €100k▲ +4.4% vs 2022
2024: €277k▲ +176% vs 2023
2025: €441k▲ +59.1% vs 2024highest in 8 years
2018 → 2025
Net result
€113k▲ 151%
2024 · €45k
2018: €8k
2019: €3k▼ -63.5% vs 2018
2020: €18k▲ +522% vs 2019
2021: €56k▲ +211% vs 2020
2022: €-38k▼ -168% vs 2021lowest in 8 years
2023: €17k▲ +145% vs 2022
2024: €45k▲ +160% vs 2023
2025: €113k▲ +151% vs 2024highest in 8 years
2018 → 2025
Working capital
€95k▲ 73.9%
2024 · €54k
2018: €-54k
2019: €-71k▼ -30.2% vs 2018lowest in 8 years
2020: €-52k▲ +26.6% vs 2019
2021: €13k▲ +125% vs 2020
2022: €3k▼ -78.6% vs 2021
2023: €29k▲ +932% vs 2022
2024: €54k▲ +91.1% vs 2023
2025: €95k▲ +73.9% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€67k-€29k▼ 56.8%€46k▲ 59.7%€91k▲ 97.1%€158k▲ 73.2%
2021: €67k
2022: €29k▼ -56.8% vs 2021lowest in 5 years
2023: €46k▲ +59.7% vs 2022
2024: €91k▲ +97.1% vs 2023
2025: €158k▲ +73.2% vs 2024highest in 5 years
Operating result€71k-€-37k€20k€65k▲ 230%€164k▲ 153%
2021: €71k
2022: €-37k▼ -153% vs 2021lowest in 5 years
2023: €20k▲ +153% vs 2022
2024: €65k▲ +230% vs 2023
2025: €164k▲ +153% vs 2024highest in 5 years
Net result€56k-€-38k€17k€45k▲ 160%€113k▲ 151%
2021: €56k
2022: €-38k▼ -168% vs 2021lowest in 5 years
2023: €17k▲ +145% vs 2022
2024: €45k▲ +160% vs 2023
2025: €113k▲ +151% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 153% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €441k
Fixed assets
€69k ▲ 28.0%
Current assets
€371k ▲ 66.6%
Equity and liabilities €441k
Equity
€158k ▲ 73.2%
Debt
€282k ▲ 52.1%
Debt's share of the balance-sheet total falls from 67.0% to 64.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€183k▲
2024 · €79k
Cash flow
€132k▲
2024 · €59k
Current ratio
1.34▲
2024 · 1.32
Debt to equity
1.78▼
2024 · 2.03
ROE
71.5%▲
2024 · 49.3%
ROA
25.7%▲
2024 · 16.3%
Interest coverage
67.18▲
2024 · 25.83
Debt ≤ 1 year
€277k▲
2024 · €168k
Debt > 1 year
€4k▼
2024 · €17k
Income taxes
€48k▲
2024 · €17k
Staff costs
€188k▲
2024 · €108k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 56 lines
Balance sheet
Code20242025
Assets
Total assets20/58€277k€441k▲
Fixed assets21/28€54k€69k▲
Intangible fixed assets21€2k€2k▼
Tangible fixed assets22/27€52k€52k▲
Land and buildings22€704-
Plant, machinery and equipment23€254€54▼
Furniture and vehicles24€45k€47k▲
Other tangible fixed assets26€6k€5k▼
Financial fixed assets28-€15k
Current assets29/58€223k€371k▲
Amounts receivable within one year40/41€91k€24k▼
Trade receivables40€532€10k▲
Other amounts receivable41€90k€14k▼
Cash at bank and in hand54/58€124k€343k▲
Deferred charges and accrued income490/1€8k€5k▼
Equity and liabilities
Total equity and liabilities10/49€277k€441k▲
Equity10/15€91k€158k▲
Contributions10/11€6k€100▼
Outside capital11€6k€100▼
Other1109/19€6k€100▼
Reserves13€47k€158k▲
Non-distributable reserves130/1€2k-
Reserves not available under the articles1311€2k-
Distributable reserves133€45k€158k▲
Profit (loss) carried forward14€38k-
Amounts payable17/49€186k€282k▲
Amounts payable after more than one year17€17k€4k▼
Financial debts170/4€17k€4k▼
Amounts payable within one year42/48€168k€277k▲
Current portion of amounts payable after more than one year42€18k€20k▲
Trade debts44€128k€201k▲
Suppliers440/4€128k€201k▲
Taxes, remuneration and social security45€23k€56k▲
Taxes450/3€8k€39k▲
Remuneration and social security454/9€14k€17k▲
Other amounts payable47/48€89€89=
Accrued charges and deferred income492/3€149€2k▲
Income statement
Code20242025
Non-recurring operating income76A€5k€3k▼
Remuneration, social security and pensions62€108k€188k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€19k▲
Other operating charges640/8€1k€15k▲
Non-recurring operating charges66A€57€5▼
Gross operating margin9900€188k€386k▲
Operating profit (loss)9901€65k€164k▲
Financial charges65/66B€3k€3k▼
Recurring financial charges65€3k€3k▼
Profit (loss) for the period before taxes9903€62k€162k▲
Income taxes67/77€17k€48k▲
Profit (loss) for the period9904€45k€113k▲
Profit (loss) for the period to be appropriated9905€45k€113k▲
Appropriation of the result
Profit (loss) to be appropriated9906€83k€154k▲
Profit (loss) brought forward from the previous period14P€38k€40k▲
Transfer to equity691/2€45k€113k▲
To other reserves6921€45k€113k▲
Profit to be distributed694/7-€40k
Return on contributions (dividend)694-€40k
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €4k | €3k | €4k | €5k | €3k | ▼ 27.6% |
| Remuneration, social security and pensions62 | €90k | €66k | €77k | €108k | €188k | ▲ 74.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21k | €14k | €15k | €14k | €19k | ▲ 34.6% |
| Other operating charges640/8 | €952 | €10k | €3k | €1k | €15k | ▲ 1,206% |
| Non-recurring operating charges66A | €2 | €153 | €30 | €57 | €5 | ▼ 91.6% |
| Gross operating margin9900 | €184k | €52k | €115k | €188k | €386k | ▲ 105% |
| Operating profit (loss)9901 | €71k | €-37k | €20k | €65k | €164k | ▲ 153% |
| Financial charges65/66B | €844 | €806 | €2k | €3k | €3k | ▼ 10.9% |
| Recurring financial charges65 | €844 | €806 | €2k | €3k | €3k | ▼ 10.9% |
| Profit (loss) for the period before taxes9903 | €70k | €-38k | €17k | €62k | €162k | ▲ 161% |
| Income taxes67/77 | €14k | €116 | €123 | €17k | €48k | ▲ 186% |
| Profit (loss) for the period9904 | €56k | €-38k | €17k | €45k | €113k | ▲ 151% |
| Profit (loss) for the period to be appropriated9905 | €56k | €-38k | €17k | €45k | €113k | ▲ 151% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €184k | €96k | €100k | €277k | €441k | ▲ 59.1% |
| Fixed assets21/28 | €64k | €29k | €20k | €54k | €69k | ▲ 28.0% |
| Intangible fixed assets21 | €55 | - | €3k | €2k | €2k | ▼ 25.3% |
| Tangible fixed assets22/27 | €64k | €29k | €17k | €52k | €52k | ▲ 0.6% |
| Land and buildings22 | €3k | €2k | €2k | €704 | - | - |
| Plant, machinery and equipment23 | €1k | €915 | €454 | €254 | €54 | ▼ 78.8% |
| Furniture and vehicles24 | €60k | €24k | €13k | €45k | €47k | ▲ 5.6% |
| Other tangible fixed assets26 | - | €2k | €2k | €6k | €5k | ▼ 21.6% |
| Financial fixed assets28 | €100 | - | - | - | €15k | - |
| Current assets29/58 | €120k | €67k | €80k | €223k | €371k | ▲ 66.6% |
| Amounts receivable within one year40/41 | - | €14k | €14k | €91k | €24k | ▼ 73.8% |
| Trade receivables40 | - | - | - | €532 | €10k | ▲ 1,720% |
| Other amounts receivable41 | - | €14k | €14k | €90k | €14k | ▼ 84.4% |
| Cash at bank and in hand54/58 | €112k | €47k | €63k | €124k | €343k | ▲ 175% |
| Deferred charges and accrued income490/1 | €8k | €5k | €2k | €8k | €5k | ▼ 34.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €184k | €96k | €100k | €277k | €441k | ▲ 59.1% |
| Equity10/15 | €67k | €29k | €46k | €91k | €158k | ▲ 73.2% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €100 | ▼ 98.4% |
| Outside capital11 | €6k | €6k | €6k | €6k | €100 | ▼ 98.4% |
| Other1109/19 | €6k | €6k | €6k | €6k | €100 | ▼ 98.4% |
| Reserves13 | €2k | €2k | €2k | €47k | €158k | ▲ 237% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | - | - |
| Distributable reserves133 | - | - | - | €45k | €158k | ▲ 251% |
| Profit (loss) carried forward14 | €59k | €21k | €38k | €38k | - | - |
| Amounts payable17/49 | €117k | €67k | €54k | €186k | €282k | ▲ 52.1% |
| Amounts payable after more than one year17 | €10k | €3k | €1k | €17k | €4k | ▼ 78.6% |
| Financial debts170/4 | €10k | €3k | €1k | €17k | €4k | ▼ 78.6% |
| Amounts payable within one year42/48 | €107k | €64k | €52k | €168k | €277k | ▲ 64.3% |
| Current portion of amounts payable after more than one year42 | €9k | €8k | €5k | €18k | €20k | ▲ 14.2% |
| Trade debts44 | €17k | €12k | €20k | €128k | €201k | ▲ 56.6% |
| Suppliers440/4 | €17k | €12k | €20k | €128k | €201k | ▲ 56.6% |
| Taxes, remuneration and social security45 | €50k | €44k | €26k | €23k | €56k | ▲ 147% |
| Taxes450/3 | €34k | €31k | €14k | €8k | €39k | ▲ 367% |
| Remuneration and social security454/9 | €16k | €13k | €12k | €14k | €17k | ▲ 19.1% |
| Other amounts payable47/48 | €31k | €89 | €89 | €89 | €89 | = |
| Accrued charges and deferred income492/3 | - | - | €594 | €149 | €2k | ▲ 1,223% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €56k | €-38k | €17k | €45k | €113k | ▲ 151% |
| + Depreciation and write-downs630 | €21k | €14k | €15k | €14k | €19k | ▲ 34.6% |
| Operating cash flow (approximation) | €77k | €-25k | €32k | €59k | €132k | ▲ 124% |
| Investment in fixed assets (approximation) | - | €22k | €-6k | €-48k | €-34k | ▲ 29.4% |
| Change in cash | - | €-65k | €16k | €61k | €218k | ▲ 258% |
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
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 25 days late
2025
31-12
Financial
Highest result since 2018net €113k ▲151%
Operating result €164k, net result €113k, both a record.
31-12
Financial
Equity above €150kEq €158k ▲73.2%
3 profitable years in a row build equity to €158k.
21-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 21 days late
2024
19-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 50 days late
2023
31-12
Financial
Back to profitnet €17k
Net result €17k after one loss-making year.
01-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 62 days late
2022
31-12
Financial
Weakest financial yearnet €-38k
Net result drops to €-38k, the lowest in the series; recovery starts the following year.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity triplescurrent ratio 1.12
Current ratio from 0.42 to 1.12.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
01-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 32 days late
Show earlier events
2019
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
14-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
23-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
5 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, Koekelberg · 3 establishment units since 2007
Ground area
1,749 m²
Building footprint
1,156 m²
Volume, LiDAR
15,177 m³
3 parcels, Brussels · tallest building 26.0 m, ±5 floors. Linked by address, not a title deed.
3 establishment units
AUTO-ECOLE SIMONIS
since 20072.166.898.044
AUTO-ECOLE SIMONIS
since 20222.338.134.817
Richard Vandeveldestraat 106, 1030 Schaarbeek
since 20262.384.325.227
3 parcels
Brussels
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21018B0094/00V005 | Brussels | 1,374 m² | 1 · 974 m² | 26.0 m · 5 fl. |
| 21492B0063/00N005 | Brussels | 221 m² | 1 · 79 m² | 19.1 m · 5 fl. |
| 21902A0268/00D004 | Brussels | 154 m² | 1 · 104 m² | 15.7 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Similar companies · same sector, comparable size
CLOUD NINE
BE 0861.455.020
Boom · Eq €159k
ADAM
BE 0476.605.144
Brussel · Eq €157k
MAX - AUTO
BE 0453.607.632
Mouscron · Eq €156k
Rijschool Lovanium
BE 0766.740.854
Leuven · Eq €162k
CUVELIER CONSULT
BE 0795.924.392
Oostende · Eq €165k
Of 1,038 companies in sector 85531 we hold annual accounts for 347. 263 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded05-12-2007
Fiscal year end31-12
Activities, NACEBEL 2025
85531Driving schools for cars and motorcycles
Scores and ratios are computed by Checked and are not a credit decision.