IPSAG
ActiveSummary
IPSAG has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €24,841 and a net result of €1,175. Equity is shrinking by ~8.4% per year across the filed fiscal years. Its solvency ranks better than 63% of 9511 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability45▲+45
Solvency92▼-8
Growth58=
Track record94
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity ample (current ratio 3.05 against 3.99 in 2024; short-term debt: 32.8% and cash: 9% of total assets), and 32.8% of the assets are financed with debt.
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Signals
Four 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 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 →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 04-02-2026, 4 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 · 3 filingsDeviation from the deadline
2025
4 d late
2024
11 d late
2023
5 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 7 days after 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 (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€24,841▲ 5.0%
2024 · €23,666
Total assets
€36,971▲ 17.1%
2024 · €31,572
Net result
€1,175
2024 · -€5,362
Working capital
€24,841▲ 5.0%
2024 · €23,666
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
Line202320242025
Operating result-€12,640--€5,021▲ 60.3%€1,313
Net result-€12,738--€5,362▲ 57.9%€1,175
Equity€29,028-€23,666▼ 18.5%€24,841▲ 5.0%
Total assets€31,334-€31,572▲ 0.8%€36,971▲ 17.1%
Debt€2,305-€7,905▲ 243%€12,129▲ 53.4%
Working capital€29,028-€23,666▼ 18.5%€24,841▲ 5.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €1,313 after a loss of €5,021 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €36,971
Equity
€24,841 ▲ 5.0%
Debt
€12,129 ▲ 53.4%
Debt's share of the balance-sheet total rises from 25.0% to 32.8%. Equity and debt are higher.
Key figures and ratios
Current ratio
3.05▼
2024 · 3.99
Debt to equity
0.49▲
2024 · 0.33
ROE
4.7%▲
2024 · -22.7%
ROA
3.2%▲
2024 · -17.0%
Debt ≤ 1 year
€12,129▲
2024 · €7,905
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Other operating charges640/8 | - | €846 | - | - |
| Gross operating margin9900 | -€12,640 | -€4,175 | €1,313 | ▲ 131% |
| Operating profit (loss)9901 | -€12,640 | -€5,021 | €1,313 | ▲ 126% |
| Financial income75/76B | €6 | €6 | - | - |
| Recurring financial income75 | €6 | €6 | - | - |
| Financial charges65/66B | €103 | €348 | €138 | ▼ 60.3% |
| Recurring financial charges65 | €103 | €348 | €138 | ▼ 60.3% |
| Profit (loss) for the period before taxes9903 | -€12,738 | -€5,362 | €1,175 | ▲ 122% |
| Profit (loss) for the period9904 | -€12,738 | -€5,362 | €1,175 | ▲ 122% |
| Profit (loss) for the period to be appropriated9905 | -€12,738 | -€5,362 | €1,175 | ▲ 122% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €31,334 | €31,572 | €36,971 | ▲ 17.1% |
| Current assets29/58 | €31,334 | €31,572 | €36,971 | ▲ 17.1% |
| Amounts receivable within one year40/41 | €16,700 | €31,348 | €33,644 | ▲ 7.3% |
| Trade receivables40 | €16,300 | €18,229 | €21,382 | ▲ 17.3% |
| Other amounts receivable41 | €400 | €13,119 | €12,262 | ▼ 6.5% |
| Cash at bank and in hand54/58 | €14,633 | €223 | €3,327 | ▲ 1,389% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €31,334 | €31,572 | €36,971 | ▲ 17.1% |
| Equity10/15 | €29,028 | €23,666 | €24,841 | ▲ 5.0% |
| Contributions10/11 | €1,000 | €1,000 | €1,000 | = |
| Capital10 | €1,000 | €1,000 | €1,000 | = |
| Issued capital100 | €1,000 | €1,000 | €1,000 | = |
| Profit (loss) carried forward14 | €28,028 | €22,666 | €23,841 | ▲ 5.2% |
| Amounts payable17/49 | €2,305 | €7,905 | €12,129 | ▲ 53.4% |
| Amounts payable within one year42/48 | €2,305 | €7,905 | €12,129 | ▲ 53.4% |
| Trade debts44 | €400 | - | - | - |
| Suppliers440/4 | €400 | - | - | - |
| Taxes, remuneration and social security45 | - | - | €948 | - |
| Taxes450/3 | - | - | €948 | - |
| Other amounts payable47/48 | €1,905 | €7,905 | €11,181 | ▲ 41.4% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€12,738 | -€5,362 | €1,175 | ▲ 122% |
| Operating cash flow (approximation) | -€12,738 | -€5,362 | €1,175 | ▲ 122% |
| Change in cash | - | -€14,410 | €3,103 | ▲ 122% |
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
04-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 4 days late
2025
30-06
Financial
Back to profitnet €1,175
Net result €1,175 after 2 loss-making years.
11-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 11 days late
2024
05-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 5 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 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, Evere
Ground area
352 m²
Building footprint
352 m²
Volume, LiDAR
1,807 m³
Parcel 21372C0033/00C003, Brussels · tallest building 11.3 m, ±1 floor. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21372C0033/00C003 | Brussels | 352 m² | 1 · 352 m² | 11.3 m · 1 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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SXDX
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Of 11,577 companies in sector 71121 we hold annual accounts for 6,563. 4,269 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
Founded31-03-2021
Fiscal year end30-06
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
74999Other professional, scientific and technical activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0765900914
Registered
08-02-2026
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.