IPF BELCO
ActiveSummary
IPF BELCO has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €12.18M and a net result of €53k. Equity remains stable across the filed fiscal years (±0.7% per year). Its solvency ranks better than 95% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability39=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €850k at 30 days acceptable
Liquidity ample (current ratio 75.28 against 70.97 in 2024; short-term debt: 0.3% and cash: 0.1% of total assets), and 0.3% of the assets are financed with debt.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Five 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
99.7%
Return on assets
0.4%
Age of the figures
9 mo
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
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 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
34 d early
2023
23 d late
2022
28 d late
2021
25 d late
2020
31 d late
2019
87 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
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€53k▼ 11.2%
2024 · €60k
Working capital
€2.80M▲ 1.9%
2024 · €2.75M
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
Line20212022202320242025
Operating result€-18k▼ 69.3%€-2k▲ 86.6%€-38k▼ 1,498%€-19k▲ 51.2%€-24k▼ 29.8%
Net result€147k▼ 3.3%€68k▼ 53.6%€37k▼ 46.1%€60k▲ 62.5%€53k▼ 11.2%
Equity€11.96M▲ 1.2%€12.03M▲ 0.6%€12.06M▲ 0.3%€12.12M▲ 0.5%€12.18M▲ 0.4%
Total assets€12.00M▲ 1.0%€12.06M▲ 0.6%€12.10M▲ 0.3%€12.16M▲ 0.5%€12.21M▲ 0.4%
Debt€39k▼ 41.2%€37k▼ 5.2%€34k▼ 8.0%€39k▲ 15.6%€38k▼ 4.0%
Working capital€3.74M▲ 2.0%€3.05M▼ 18.5%€2.69M▼ 11.9%€2.75M▲ 2.2%€2.80M▲ 1.9%
Staff (FTE)0000
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €24k in 2025 against €19k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €12.21M
Fixed assets
€9.38M =
Current assets
€2.84M ▲ 1.9%
Equity and liabilities €12.21M
Equity
€12.18M ▲ 0.4%
Debt
€38k ▼ 4.0%
Debt's share of the balance-sheet total stays at 0.3%.
Key figures and ratios
Current ratio
75.28▲
2024 · 70.97
Debt to equity
0.00▼
2024 · 0.00
ROE
0.4%▼
2024 · 0.5%
ROA
0.4%▼
2024 · 0.5%
Debt ≤ 1 year
€38k▼
2024 · €39k
Income taxes
€81▼
2024 · €97
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €631 | €631 | €0 | - | - | - |
| Other operating charges640/8 | €1k | €4k | €1k | €1k | €998 | ▼ 32.5% |
| Gross operating margin9900 | €-16k | €2k | €-37k | €-17k | €-23k | ▼ 35.2% |
| Operating profit (loss)9901 | €-18k | €-2k | €-38k | €-19k | €-24k | ▼ 29.8% |
| Financial income75/76B | €166k | €72k | €76k | €80k | €81k | ▲ 0.9% |
| Recurring financial income75 | €166k | €72k | €76k | €80k | €81k | ▲ 0.9% |
| Financial charges65/66B | €389 | €751 | €921 | €2k | €4k | ▲ 119% |
| Recurring financial charges65 | €389 | €751 | €921 | €2k | €4k | ▲ 119% |
| Profit (loss) for the period before taxes9903 | €148k | €69k | €37k | €60k | €53k | ▼ 11.2% |
| Income taxes67/77 | €366 | €329 | €-115 | €97 | €81 | ▼ 16.4% |
| Profit (loss) for the period9904 | €147k | €68k | €37k | €60k | €53k | ▼ 11.2% |
| Profit (loss) for the period to be appropriated9905 | €147k | €68k | €37k | €60k | €53k | ▼ 11.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €12.00M | €12.06M | €12.10M | €12.16M | €12.21M | ▲ 0.4% |
| Formation expenses20 | €631 | €0 | - | - | - | - |
| Fixed assets21/28 | €8.22M | €8.98M | €9.38M | €9.38M | €9.38M | = |
| Financial fixed assets28 | €8.22M | €8.98M | €9.38M | €9.38M | €9.38M | = |
| Current assets29/58 | €3.78M | €3.09M | €2.72M | €2.79M | €2.84M | ▲ 1.9% |
| Amounts receivable within one year40/41 | €3.78M | €3.07M | €2.69M | €2.77M | €2.82M | ▲ 2.0% |
| Trade receivables40 | €0 | - | - | - | - | - |
| Other amounts receivable41 | €3.78M | €3.07M | €2.69M | €2.77M | €2.82M | ▲ 2.0% |
| Cash at bank and in hand54/58 | €7k | €16k | €29k | €18k | €8k | ▼ 55.2% |
| Deferred charges and accrued income490/1 | - | - | - | - | €6k | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €12.00M | €12.06M | €12.10M | €12.16M | €12.21M | ▲ 0.4% |
| Equity10/15 | €11.96M | €12.03M | €12.06M | €12.12M | €12.18M | ▲ 0.4% |
| Contributions10/11 | €11.49M | €11.49M | €11.49M | €11.49M | €11.49M | = |
| Reserves13 | €41k | €41k | €41k | €41k | €41k | = |
| Non-distributable reserves130/1 | €41k | €41k | €41k | €0 | - | - |
| Reserves not available under the articles1311 | €41k | €41k | €41k | €0 | - | - |
| Distributable reserves133 | - | - | - | €41k | €41k | = |
| Profit (loss) carried forward14 | €424k | €493k | €530k | €590k | €643k | ▲ 9.0% |
| Amounts payable17/49 | €39k | €37k | €34k | €39k | €38k | ▼ 4.0% |
| Amounts payable within one year42/48 | €39k | €37k | €34k | €39k | €38k | ▼ 4.0% |
| Trade debts44 | €0 | - | - | €7k | €8k | ▲ 3.2% |
| Suppliers440/4 | €0 | - | - | €7k | €8k | ▲ 3.2% |
| Taxes, remuneration and social security45 | €366 | €695 | €108 | €97 | €81 | ▼ 16.4% |
| Taxes450/3 | €366 | €695 | €108 | €97 | €81 | ▼ 16.4% |
| Other amounts payable47/48 | €39k | €36k | €34k | €32k | €30k | ▼ 5.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €147k | €68k | €37k | €60k | €53k | ▼ 11.2% |
| + Depreciation and write-downs630 | €631 | €631 | €0 | - | - | - |
| Operating cash flow (approximation) | €148k | €69k | €37k | €60k | €53k | ▼ 11.2% |
| Investment in fixed assets (approximation) | - | €-761k | €-400k | €0 | €0 | - |
| Change in cash | - | €9k | €13k | €-10k | €-10k | ▲ 3.2% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 23 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 28 days late
2022
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 25 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
31-12
Financial
Highest result since 2018net €153k ▲252%
Net result €153k, the highest in the series.
31-12
Financial
Liquidity times 22current ratio 56.40
Current ratio from 2.54 to 56.40; short-term debt falls from €1.57M to €66k.
26-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 87 days late
2019
31-12
Financial
Back to profitnet €43k
Net result €43k after one loss-making year.
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 27 days late
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 23 days late
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, Ukkel · 1 establishment unit since 2014
Ground area
1,199 m²
Building footprint
478 m²
Volume, LiDAR
13,288 m³
Parcel 21016B0276/00W057, Brussels · tallest building 35.6 m, ±10 floors. Linked by address, not a title deed.
1 establishment unit
IPF BELCO
since 20142.231.180.934
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21016B0276/00W057 | Brussels | 1,199 m² | 1 · 478 m² | 35.6 m · 10 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.
Similar companies · same sector, comparable size
E 40 BUSINESS PARK
BE 0473.001.395
Awans · Eq €12.17M
Alkimmo
BE 0418.666.351
Antwerpen · Eq €12.23M
COOPERATIEVE VOOR CULTURELE CENTRA
BE 0416.621.730
Sint-Pieters-Woluwe · Eq €12.12M
AVROY 44
BE 0405.842.852
Liège · Eq €12.11M
GALLEE HORECA ET DEVELOPPEMENTS
BE 0401.100.344
Saint-Ghislain · Eq €12.28M
Of 12,041 companies in sector 68203 we hold annual accounts for 5,989. 1,672 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
Founded23-12-2013
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
56112Limited-service restaurants, excluding mobile food services
Scores and ratios are computed by Checked and are not a credit decision.