Ipsacon
ActiveSummary
Ipsacon has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €321,285 and a net result of €70,849. Equity is growing by ~3.1% per year across the filed fiscal years. Its solvency ranks better than 84% of 1941 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability90▼-10
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 4.51 against 78.68 in 2023; short-term debt: 21.8% and cash: 93.8% of total assets), and 21.8% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% 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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-06-2025, 36 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
36 d early
2023
36 d early
2022
34 d early
2021
34 d early
2020
58 d early
2019
38 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 39 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€321,285▼ 7.1%
2023 · €345,936
Total assets
€410,888▲ 17.3%
2023 · €350,342
Net result
€70,849▼ 24.0%
2023 · €93,221
Working capital
€314,261▼ 8.2%
2023 · €342,261
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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
favourable
unfavourable
Line20202021202220232024
Operating result€68,683▼ 7.9%-€18,448€73,934€139,156▲ 88.2%€104,780▼ 24.7%
Net result€52,588within the sector's middle half▲ 2.0%-€10,759below the sector's middle half€53,637within the sector's middle half€93,221within the sector's middle half▲ 73.8%€70,849within the sector's middle half▼ 24.0%
Equity€360,737within the sector's middle half▲ 17.1%€265,278within the sector's middle half▼ 26.5%€285,214within the sector's middle half▲ 7.5%€345,936within the sector's middle half▲ 21.3%€321,285within the sector's middle half▼ 7.1%
Total assets€379,883within the sector's middle half▲ 21.7%€268,276within the sector's middle half▼ 29.4%€322,278within the sector's middle half▲ 20.1%€350,342within the sector's middle half▲ 8.7%€410,888within the sector's middle half▲ 17.3%
Debt€19,146▲ 380%€2,999▼ 84.3%€37,063▲ 1,136%€4,406▼ 88.1%€89,603▲ 1,934%
Working capital€351,484within the sector's middle half▲ 22.2%€259,138within the sector's middle half▼ 26.3%€277,921within the sector's middle half▲ 7.2%€342,261within the sector's middle half▲ 23.2%€314,261within the sector's middle half▼ 8.2%
Solvency95.0%above the sector's middle half▼ 3.8pp98.9%above the sector's middle half▲ 3.9pp88.5%above the sector's middle half▼ 10.4pp98.7%above the sector's middle half▲ 10.2pp78.2%above the sector's middle half▼ 20.5pp
Current ratio19.36above the sector's middle half▼ 53.7087.42above the sector's middle half▲ 68.068.50above the sector's middle half▼ 78.9278.68above the sector's middle half▲ 70.184.51above the sector's middle half▼ 74.17
Return on assets (ROA)13.8%within the sector's middle half▼ 2.7pp-4.0%below the sector's middle half▼ 17.9pp16.6%above the sector's middle half▲ 20.7pp26.6%above the sector's middle half▲ 10.0pp17.2%above the sector's middle half▼ 9.4pp
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 25% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €410,888
Fixed assets
€7,023 ▲ 91.1%
Current assets
€403,865 ▲ 16.5%
Equity and liabilities €410,888
Equity
€321,285 ▼ 7.1%
Debt
€89,603 ▲ 1,934%
Debt's share of the balance-sheet total rises from 1.3% to 21.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€106,339▼
2023 · €140,264
Cash flow
€72,408▼
2023 · €94,329
Debt to equity
0.28▲
2023 · 0.01
ROE
22.1%▼
2023 · 26.9%
Interest coverage
51.44▼
2023 · 52.54
Debt ≤ 1 year
€89,603▲
2023 · €4,406
Income taxes
€35,537▼
2023 · €47,517
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,679 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.8%
stopped otherwise
95%
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 0.2% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| 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% | 1.7% |
| 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 75% 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 34,679 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
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,879 | €4,236 | €3,263 | €1,108 | €1,559 | ▲ 40.7% |
| Other operating charges640/8 | - | €1,775 | €1,806 | €2,115 | €1,207 | ▼ 42.9% |
| Non-recurring operating charges66A | - | - | - | €10 | - | - |
| Gross operating margin9900 | €76,427 | -€12,438 | €79,003 | €142,389 | €107,546 | ▼ 24.5% |
| Operating profit (loss)9901 | €68,683 | -€18,448 | €73,934 | €139,156 | €104,780 | ▼ 24.7% |
| Financial income75/76B | - | €8,847 | €6,450 | €4,251 | €3,673 | ▼ 13.6% |
| Recurring financial income75 | €11,301 | €8,847 | €6,450 | €4,251 | €3,673 | ▼ 13.6% |
| Financial charges65/66B | - | €263 | €115 | €2,669 | €2,067 | ▼ 22.6% |
| Recurring financial charges65 | €84 | €263 | €115 | €2,669 | €2,067 | ▼ 22.6% |
| Profit (loss) for the period before taxes9903 | €79,900 | -€9,864 | €80,269 | €140,738 | €106,385 | ▼ 24.4% |
| Income taxes67/77 | €27,312 | €895 | €26,633 | €47,517 | €35,537 | ▼ 25.2% |
| Profit (loss) for the period9904 | €52,588 | -€10,759 | €53,637 | €93,221 | €70,849 | ▼ 24.0% |
| Profit (loss) for the period to be appropriated9905 | €52,588 | -€10,759 | €53,637 | €93,221 | €70,849 | ▼ 24.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €379,883 | €268,276 | €322,278 | €350,342 | €410,888 | ▲ 17.3% |
| Fixed assets21/28 | €9,253 | €6,139 | €7,293 | €3,675 | €7,023 | ▲ 91.1% |
| Tangible fixed assets22/27 | €9,253 | €6,139 | €7,293 | €3,675 | €7,023 | ▲ 91.1% |
| Plant, machinery and equipment23 | - | €1,119 | €4,783 | €3,675 | €4,411 | ▲ 20.0% |
| Furniture and vehicles24 | - | €5,020 | €2,510 | - | €2,612 | - |
| Current assets29/58 | €370,629 | €262,137 | €314,985 | €346,667 | €403,865 | ▲ 16.5% |
| Amounts receivable within one year40/41 | €104,910 | €20,827 | €48,142 | €147,955 | €15,959 | ▼ 89.2% |
| Trade receivables40 | - | €14,176 | €48,142 | €124,229 | €2,186 | ▼ 98.2% |
| Other amounts receivable41 | - | €6,650 | - | €23,726 | €13,772 | ▼ 42.0% |
| Cash at bank and in hand54/58 | €262,979 | €237,514 | €263,393 | €197,356 | €385,342 | ▲ 95.3% |
| Deferred charges and accrued income490/1 | - | €3,797 | €3,450 | €1,355 | €2,563 | ▲ 89.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €379,883 | €268,276 | €322,278 | €350,342 | €410,888 | ▲ 17.3% |
| Equity10/15 | €360,737 | €265,278 | €285,214 | €345,936 | €321,285 | ▼ 7.1% |
| Contributions10/11 | - | €9,860 | €9,860 | €9,860 | €9,860 | = |
| Reserves13 | €350,500 | €265,800 | €275,300 | €336,000 | €311,300 | ▼ 7.4% |
| Distributable reserves133 | - | €265,800 | €275,300 | €336,000 | €311,300 | ▼ 7.4% |
| Profit (loss) carried forward14 | €377 | -€10,382 | €54 | €76 | €125 | ▲ 64.6% |
| Amounts payable17/49 | €19,146 | €2,999 | €37,063 | €4,406 | €89,603 | ▲ 1,934% |
| Amounts payable within one year42/48 | €19,146 | €2,999 | €37,063 | €4,406 | €89,603 | ▲ 1,934% |
| Trade debts44 | €835 | €1,200 | €724 | €2,486 | €3,858 | ▲ 55.2% |
| Suppliers440/4 | - | €1,200 | €724 | €2,486 | €3,858 | ▲ 55.2% |
| Taxes, remuneration and social security45 | - | €1,798 | €17,294 | €1,920 | - | - |
| Taxes450/3 | - | €1,798 | €17,294 | €1,920 | - | - |
| Other amounts payable47/48 | - | - | €19,046 | - | €85,745 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €52,588 | -€10,759 | €53,637 | €93,221 | €70,849 | ▼ 24.0% |
| + Depreciation and write-downs630 | €5,879 | €4,236 | €3,263 | €1,108 | €1,559 | ▲ 40.7% |
| Operating cash flow (approximation) | €58,467 | -€6,523 | €56,899 | €94,329 | €72,408 | ▼ 23.2% |
| Investment in fixed assets (approximation) | - | -€1,122 | -€4,416 | €2,510 | -€4,907 | ▼ 295% |
| Change in cash | - | -€25,465 | €25,879 | -€66,037 | €187,986 | ▲ 385% |
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
2025
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Liquidity times 9current ratio 78.68
Current ratio from 8.50 to 78.68; short-term debt falls from €37,063 to €4,406.
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €53,637
Net result €53,637 after one loss-making year.
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet -€10,759
Net result drops to -€10,759, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 5current ratio 87.42
Current ratio from 19.36 to 87.42; short-term debt falls from €19,146 to €2,999.
03-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Liquidity times 5current ratio 73.06
Current ratio from 15.79 to 73.06; short-term debt falls from €16,002 to €3,992.
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Show earlier events
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
23-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
30-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
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.
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Directors · office · real estate
Directors
1 act for this company is 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, Meerhout · 1 establishment unit since 2014
Ground area
1,225 m²
Building footprint
151 m²
Volume, LiDAR
778 m³
Parcel 13462C0402/00C000, Flanders · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Ipsacon
since 20142.228.948.152
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13462C0402/00C000 | Flanders | 1,225 m² | 1 · 151 m² | 7.0 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.
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Of 18,250 companies in sector 71111 we hold annual accounts for 6,321. 4,622 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 (pre-2019)
Founded21-03-2014
Fiscal year end31-12
Activities, NACEBEL 2025
71111Activities of building architects
68121Development of residential building projects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0548792148
Also
9925:BE0548792148
Registered
08-04-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.