IPINCO

Active

Public limited companyfounded 199827 yrs activeSzamotulystraat 15, 8700 Tielt, BelgiumKBO/BCE: BE 0464.665.632

Summary

IPINCO has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €7.4m and a net result of €335,190. Equity remains stable across the filed fiscal years (±2.2% per year). Its solvency ranks better than 94% of 3210 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Risk analysis Watch Report Compare

IPINCOActiveChecked score 88/100

Risk analysis Report Compare

Checked score

Score 2025

88 / 100

Excellent

Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability74=

Solvency100=

Growth78=

Track record100

Bankruptcy probability, 12 months

0.1% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €650,000 at 30 days acceptable

Liquidity ample (current ratio 23.83 against 12.24 in 2024; short-term debt: 2.1% and cash: 20.8% of total assets), and 2.2% 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○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 70

Relative position

BE, all sectors

reference

Activities of head offices; management consultancy activities (NACE 70)

about 69% fewer bankruptcies

← fewer bankruptcies more bankruptcies →

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

97.8%

Return on assets

4.4%

Age of the figures

9 mo

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

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 filings

Deviation from the deadline

2025

30 d early

2024

13 d early

2023

14 d early

2022

19 d early

2021

19 d early

2020

16 d early

2019

8 d early

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 17 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.

Checked, nothing found (2)

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 months

Position in the running window

27-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

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

On 25 November 1998, IPINCO was incorporated.¹ IPLAST HOLDING has served as sole director of the company since 2026.² Total assets went from EUR 6.3 million in 2018 to EUR 7.6 million in 2025.³

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Investigating this company? Keep it with today's facts in a case file.

Financials · fiscal year 2025, full schema

In the rankings #10 company by equity in Tielt, Professional and technical services sector

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€335,190▲ 10.8%

2024 · €302,425

Working capital

€3.6m▲ 42.8%

2024 · €2.5m

Trend over the years

Chart Table

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€519,363▲ 16.8%€493,612▼ 5.0%€314,262▼ 36.3%€409,152▲ 30.2%€449,791▲ 9.9%

Net result€393,162▲ 16.1%€372,134▼ 5.3%€240,263▼ 35.4%€302,425▲ 25.9%€335,190▲ 10.8%

Equity€6.5m▲ 1.9%€6.6m▲ 1.6%€6.8m▲ 3.3%€7.1m▲ 4.1%€7.4m▲ 4.4%

Total assets€6.9m▼ 1.6%€6.9m▲ 1.1%€7.0m▲ 0.2%€7.3m▲ 5.6%€7.6m▲ 3.4%

Debt€349,879▼ 40.3%€324,008▼ 7.4%€120,085▼ 62.9%€225,179▲ 87.5%€162,195▼ 28.0%

Working capital€1.9m▲ 13.4%€1.6m▼ 15.7%€1.7m▲ 6.5%€2.5m▲ 50.6%€3.6m▲ 42.8%

Staff (FTE)0

Result per fiscal year

Operating resultNet result

After the dip in 2023 the operating result has climbed two years in a row; 2025 is 10% above 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €7.6m

50.7%

49.3%

Fixed assets €3.9m ▼ 16.5%

Current assets €3.7m ▲ 36.9%

Equity and liabilities €7.6m

97.8%

Equity €7.4m ▲ 4.4%

Provisions €5,902 ▼ 12.9%

Debt €162,195 ▼ 28.0%

Debt's share of the balance-sheet total falls from 3.1% to 2.1%. Equity is higher and debt is lower.

Key figures and ratios

2025 value · change against 2024

EBITDA

€1.6m▼

2024 · €1.6m

Cash flow

€1.4m▼

2024 · €1.5m

Current ratio

23.83▲

2024 · 12.24

Debt to equity

0.02▼

2024 · 0.03

ROE

4.5%▲

2024 · 4.2%

ROA

4.4%▲

2024 · 4.1%

Interest coverage

2404.69▼

2024 · 2598.11

Debt ≤ 1 year

€157,251▼

2024 · €223,566

Income taxes

€114,830▲

2024 · €106,987

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 1,832 companies that looked in July 2024 the way this one looks now, 0.1% went bankrupt within 24 months and 98% are still going.

Medium-sized
20 years or older
solvency 30% or more
a profit under 5% of the balance sheet

0.1% went bankrupt

2.0% stopped otherwise

98% still going

A further 0.2% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.1% 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 1,832 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

OverviewIncome statement Balance sheet Cash flow

Filed annual accounts As filed with the NBB · 2025 against 2024 · 51 lines

Balance sheet Code20242025

Assets

Total assets20/58€7.3m€7.6m▲

Fixed assets21/28€4.6m€3.9m▼

Tangible fixed assets22/27€4.6m€3.8m▼

Land and buildings22€2.8m€2.6m▼

Plant, machinery and equipment23€1.8m€1.2m▼

Financial fixed assets28€2,500€2,500=

Current assets29/58€2.7m€3.7m▲

Amounts receivable within one year40/41€1.5m€2.2m▲

Trade receivables40€1.4m€2.1m▲

Other amounts receivable41€100,200€100,938▲

Cash at bank and in hand54/58€1.2m€1.6m▲

Deferred charges and accrued income490/1€17,275€0▼

Equity and liabilities

Total equity and liabilities10/49€7.3m€7.6m▲

Equity10/15€7.1m€7.4m▲

Contributions10/11€4.0m€4.0m=

Capital10€4.0m€4.0m=

Issued capital100€4.0m€4.0m=

Reserves13€3.1m€3.4m▲

Non-distributable reserves130/1€287,000€303,891▲

Legal reserve130€287,000€303,891▲

Tax-exempt reserves132€20,331€17,706▼

Distributable reserves133€2.8m€3.1m▲

Profit (loss) carried forward14€0€0=

Provisions and deferred taxes16€6,777€5,902▼

Deferred taxes168€6,777€5,902▼

Amounts payable17/49€225,179€162,195▼

Amounts payable within one year42/48€223,566€157,251▼

Trade debts44€96,566€22,251▼

Suppliers440/4€96,566€22,251▼

Taxes, remuneration and social security45€107,000€115,000▲

Taxes450/3€107,000€115,000▲

Other amounts payable47/48€20,000€20,000=

Accrued charges and deferred income492/3€1,613€4,945▲

Income statement Code20242025

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.2m€1.1m▼

Other operating charges640/8€22,503€23,111▲

Gross operating margin9900€1.6m€1.6m▼

Operating profit (loss)9901€409,152€449,791▲

Financial charges65/66B€615€645▲

Recurring financial charges65€615€645▲

Profit (loss) for the period before taxes9903€408,536€449,145▲

Transfer from deferred taxes780€875€875=

Income taxes67/77€106,987€114,830▲

Profit (loss) for the period9904€302,425€335,190▲

Transfer from tax-exempt reserves789€2,625€2,625=

Profit (loss) for the period to be appropriated9905€305,050€337,815▲

Appropriation of the result

Profit (loss) to be appropriated9906€305,050€337,815▲

Transfer to equity691/2€285,050€317,815▲

To the legal reserve6920€16,479€16,891▲

To other reserves6921€268,570€300,925▲

Profit to be distributed694/7€20,000€20,000=

Directors or managers695€20,000€20,000=

The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line	2021	2022	2023	2024	2025	Change
Non-recurring operating income76A	€20,117	€1,244	€0	-	-	-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€834,540	€1.0m	€1.2m	€1.2m	€1.1m	▼ 7.3%
Other operating charges640/8	€19,311	€19,802	€21,566	€22,503	€23,111	▲ 2.7%
Gross operating margin9900	€1.4m	€1.5m	€1.5m	€1.6m	€1.6m	▼ 2.8%
Operating profit (loss)9901	€519,363	€493,612	€314,262	€409,152	€449,791	▲ 9.9%
Financial charges65/66B	€1,881	€1,857	€615	€615	€645	▲ 4.9%
Recurring financial charges65	€1,881	€1,857	€615	€615	€645	▲ 4.9%
Profit (loss) for the period before taxes9903	€517,482	€491,755	€313,647	€408,536	€449,145	▲ 9.9%
Transfer from deferred taxes780	€875	€875	€875	€875	€875	=
Income taxes67/77	€125,195	€120,495	€74,259	€106,987	€114,830	▲ 7.3%
Profit (loss) for the period9904	€393,162	€372,134	€240,263	€302,425	€335,190	▲ 10.8%
Transfer from tax-exempt reserves789	€2,625	€2,625	€2,625	€2,625	€2,625	=
Profit (loss) for the period to be appropriated9905	€395,787	€374,759	€242,888	€305,050	€337,815	▲ 10.7%

Line	2021	2022	2023	2024	2025	Change
Assets
Total assets20/58	€6.9m	€6.9m	€7.0m	€7.3m	€7.6m	▲ 3.4%
Fixed assets21/28	€4.7m	€5.1m	€5.2m	€4.6m	€3.9m	▼ 16.5%
Tangible fixed assets22/27	€4.7m	€5.1m	€5.2m	€4.6m	€3.8m	▼ 16.5%
Land and buildings22	€3.3m	€3.1m	€2.9m	€2.8m	€2.6m	▼ 5.9%
Plant, machinery and equipment23	€1.4m	€1.9m	€2.2m	€1.8m	€1.2m	▼ 32.5%
Assets under construction and advance payments27	€0	-	-	-	-	-
Financial fixed assets28	€2,500	€2,500	€2,500	€2,500	€2,500	=
Current assets29/58	€2.2m	€1.9m	€1.8m	€2.7m	€3.7m	▲ 36.9%
Amounts receivable within one year40/41	€627,453	€657,656	€526,025	€1.5m	€2.2m	▲ 45.5%
Trade receivables40	€627,451	€657,654	€500,323	€1.4m	€2.1m	▲ 48.8%
Other amounts receivable41	€2	€2	€25,702	€100,200	€100,938	▲ 0.7%
Cash at bank and in hand54/58	€1.6m	€1.2m	€1.2m	€1.2m	€1.6m	▲ 28.4%
Deferred charges and accrued income490/1	€2,981	€3,572	€12,395	€17,275	€0	▼ 100%
Equity and liabilities
Total equity and liabilities10/49	€6.9m	€6.9m	€7.0m	€7.3m	€7.6m	▲ 3.4%
Equity10/15	€6.5m	€6.6m	€6.8m	€7.1m	€7.4m	▲ 4.4%
Contributions10/11	€4.0m	€4.0m	€4.0m	€4.0m	€4.0m	=
Capital10	€4.0m	€4.0m	€4.0m	€4.0m	€4.0m	=
Issued capital100	€4.0m	€4.0m	€4.0m	€4.0m	€4.0m	=
Reserves13	€2.5m	€2.6m	€2.8m	€3.1m	€3.4m	▲ 10.1%
Non-distributable reserves130/1	€239,638	€258,376	€270,521	€287,000	€303,891	▲ 5.9%
Legal reserve130	€239,638	€258,376	€270,521	€287,000	€303,891	▲ 5.9%
Tax-exempt reserves132	€28,206	€25,581	€22,956	€20,331	€17,706	▼ 12.9%
Distributable reserves133	€2.2m	€2.3m	€2.5m	€2.8m	€3.1m	▲ 10.7%
Profit (loss) carried forward14	€0	€0	€0	€0	€0	-
Provisions and deferred taxes16	€9,402	€8,527	€7,652	€6,777	€5,902	▼ 12.9%
Deferred taxes168	€9,402	€8,527	€7,652	€6,777	€5,902	▼ 12.9%
Amounts payable17/49	€349,879	€324,008	€120,085	€225,179	€162,195	▼ 28.0%
Amounts payable within one year42/48	€348,235	€322,495	€114,253	€223,566	€157,251	▼ 29.7%
Trade debts44	€75,040	€15,750	€58,794	€96,566	€22,251	▼ 77.0%
Suppliers440/4	€75,040	€15,750	€58,794	€96,566	€22,251	▼ 77.0%
Taxes, remuneration and social security45	€3,195	€36,745	€35,459	€107,000	€115,000	▲ 7.5%
Taxes450/3	€3,195	€36,745	€35,459	€107,000	€115,000	▲ 7.5%
Other amounts payable47/48	€270,000	€270,000	€20,000	€20,000	€20,000	=
Accrued charges and deferred income492/3	€1,644	€1,513	€5,832	€1,613	€4,945	▲ 207%

Line	2021	2022	2023	2024	2025	Change
Profit (loss) for the period9904	€393,162	€372,134	€240,263	€302,425	€335,190	▲ 10.8%
+ Depreciation and write-downs630	€834,540	€1.0m	€1.2m	€1.2m	€1.1m	▼ 7.3%
Operating cash flow (approximation)	€1.2m	€1.4m	€1.4m	€1.5m	€1.4m	▼ 3.6%
Investment in fixed assets (approximation)	-	-€1.4m	-€1.3m	-€621,560	-€342,588	▲ 44.9%
Change in cash	-	-€348,322	€16,823	-€15,667	€348,814	▲ 2,326%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Timeline · acts, filings and financial milestones

All 13Financial 2Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

15-09

State Gazette act Resignation: Belaen Jenny (director)

Permanent representative: Stofferis Frédéric · Appointment: IPLAST HOLDING NV (sole director) · Statutes amendment9 facts ▸

General meeting, 22-06-2026
Director resignation, Belaen Jenny (director)
Board composition, IPLAST HOLDING NV (director)
Permanent representative, Stofferis Frédéric (permanent representative)
Statutes amendment
Board meeting, geen bijkomend bestuurder benoemen, algemene vergadering
Director appointment, IPLAST HOLDING NV (sole director)
Permanent representative, Stofferis Frédéric (permanent representative)
Other statement, signature block requirement, Naam en handtekening (dit geldt niet voor akten van het type Mededelingen)

01-07

NBB filing Annual accounts filed

fiscal year 2025 · full schema

2025

18-07

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

17-07

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

31-12

Financial Liquidity triplescurrent ratio 15.61

Current ratio from 5.86 to 15.61; short-term debt falls from €322,495 to €114,253.

12-07

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

12-07

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2021

31-12

Financial Highest result since 2018net €393,162 ▲16.1%

Operating result €519,363, net result €393,162, both a record.

15-07

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

23-07

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2019

24-07

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2018

20-07

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2017

24-07

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

1 of 13 acts read

About the unread acts

Of the 13 Belgian State Gazette acts we know for this company, 1 has been read. The other 12 have not 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

1 director, last change in 2026

Board 1

IPLAST HOLDING

Sole director · since 15-09-2026 · Public limited company · perm. rep.: Stofferis Frédéric

Current

Permanent representatives 1

Stofferis Frédéric

Permanent representative · since 15-09-2026 · for IPLAST HOLDING

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

12 of this company's 13 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

Registered office, Tielt · 1 establishment unit since 1998

seat establishment The establishment unit on the map

Ground area

2.1 ha

Building footprint

8,621 m²

Volume, LiDAR

73,627 m³

Parcel 37302E0576/00B000, Flanders · tallest building 10.3 m, ±3 floors. Linked by address, not a title deed.

3 companies at this address See who is registered here

1 establishment unit

IPINCO

Szamotulystraat 15, 8700 TieltInsurance, reinsurance and pension funding, except compulsory social security

since 19982.089.735.336

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
37302E0576/00B000	Flanders	2.1 ha	1 · 8,620 m²	10.3 m · 3 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

2 people since 2026, 1 in office

All 2 In office 1 Ended 1

Board
began earlier

Mandates per person, with start and end dates
Name	Functions and periods
IPLAST HOLDING	Sole director, from 15-09-2026 to date
Belaen Jenny	Director, until 22-06-2026

See the board, name and seat on a given date →

Structure & network

Owners and holdings

1 owner

Chain of control

IPLAST HOLDING 100%
IPINCO

Highest known parent: IPLAST HOLDING. The sources do not say who stands above it.

Owners 1

IPLAST HOLDINGparent

Sourceaccounts IPLAST HOLDING 2025

100%

Holdings 0

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

1 connected company

Depth

The connected companies are in the list below.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, scroll to zoom.

Linked via shared directors

Icomco

Shared corporate director

→

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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 8,494 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification

Legal formPublic limited company

Founded25-11-1998

Fiscal year end31-12

Activities, NACEBEL 2025

70200Business and other management consultancy

64910Financial service activities, except insurance and pension funding

E-invoicing

Reachable via Peppol

Peppol ID 0208:0464665632

Also 9925:BE0464665632

Registered 08-07-2025

Scores and ratios are computed by Checked and are not a credit decision.