IPSIS WORKS
ActiveIPSIS WORKS has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €75k and a net result of €-23k. Equity is growing by ~10.1% per year across the filed fiscal years. Its solvency ranks better than 15% of 8969 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
55
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability43▲+10
Solvency31▼-2
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days acceptable
Liquidity short (current ratio 0.99 against 0.85 in 2023; short-term debt: 7% and cash: 1.5% of total assets), and 93.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
6.3%
Return on assets
-1.9%
Age of the figures
20 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-23k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 8969 sector peers (2024).
NBB · sector comparisonPosition among 8969 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-09-2025, 55 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
not confirmed
2024
55 d late
2023
52 d late
2022
72 d late
2021
29 d late
2020
22 d late
2019
33 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€75k▼ 23.6%
2023 · €98k
2018: €55k
2019: €18k
2020: €113k
2021: €73k
2022: €29k
2023: €98k
2018 → 2024
Total assets
€1.20M▼ 4.7%
2023 · €1.26M
2018: €942k
2019: €1.30M
2020: €1.38M
2021: €1.29M
2022: €1.22M
2023: €1.26M
2018 → 2024
Net result
€-23k▲ 25.6%
2023 · €-31k
2018: €-19k
2019: €-36k
2020: €-105k
2021: €-40k
2022: €-44k
2023: €-31k
2018 → 2024
Working capital
€-671▲ 95.7%
2023 · €-16k
2018: €886k
2019: €1.23M
2020: €39k
2021: €30k
2022: €1k
2023: €-16k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€113k-€73k▼ 35.6%€29k▼ 59.7%€98k▲ 234%€75k▼ 23.6%
Operating result€-87k-€-21k▲ 75.9%€-13k▲ 37.3%€-17k▼ 31.3%€-7k▲ 57.0%
Net result€-105k-€-40k▲ 61.7%€-44k▼ 8.1%€-31k▲ 28.5%€-23k▲ 25.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €7k in 2024 against €17k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.20M
Fixed assets
€1.12M▼ 4.6%
Current assets
€84k▼ 5.7%
Equity and liabilities €1.20M
Equity
€75k▼ 23.6%
Debt
€1.12M▼ 3.1%
The debt ratio rises from 92.2% to 93.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€50k▲
2023 · €39k
Cash flow
€34k▲
2023 · €25k
Solvency
6.3%▼
2023 · 7.8%
Current ratio
0.99▲
2023 · 0.85
Quick ratio
0.99▲
2023 · 0.85
Debt / equity
14.96▲
2023 · 11.80
ROE
-30.8%▲
2023 · -31.7%
ROA
-1.9%▲
2023 · -2.5%
Interest coverage
3.15▲
2023 · 2.08
Debt
€1.12M▼
2023 · €1.16M
Debt ≤ 1 year
€85k▼
2023 · €105k
Debt > 1 year
€1.04M▼
2023 · €1.05M
Income taxes
€1▲
2023 · €-5k
Staff costs
€55
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€1.26M€1.20M▼
Fixed assets21/28€1.17M€1.12M▼
Tangible fixed assets22/27€1.17M€1.11M▼
Land and buildings22€1.13M€1.08M▼
Plant, machinery and equipment23€3k€2k▼
Furniture and vehicles24€4k€4k▲
Other tangible fixed assets26€30k€30k=
Financial fixed assets28€285€285=
Current assets29/58€89k€84k▼
Amounts receivable within one year40/41€84k€66k▼
Trade receivables40€51k€28k▼
Other amounts receivable41€33k€38k▲
Cash at bank and in hand54/58€5k€18k▲
Equity and liabilities
Total equity and liabilities10/49€1.26M€1.20M▼
Equity10/15€98k€75k▼
Contributions10/11€124k€124k=
Capital10€124k€124k=
Issued capital100€124k€124k=
Revaluation surpluses12€300k€300k=
Reserves13€248€248=
Non-distributable reserves130/1€248€248=
Legal reserve130€248€248=
Profit (loss) carried forward14€-326k€-349k▼
Amounts payable17/49€1.16M€1.12M▼
Amounts payable after more than one year17€1.05M€1.04M▼
Financial debts170/4€1.05M€1.04M▼
Amounts payable within one year42/48€105k€85k▼
Current portion of amounts payable after more than one year42€38k€38k▲
Financial debts43€31k€2k▼
Credit institutions430/8€31k€2k▼
Trade debts44€36k€44k▲
Suppliers440/4€36k€44k▲
Income statement
Code20232024
Remuneration, social security and pensions62-€55
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€56k€57k▲
Other operating charges640/8€4k€4k▲
Gross operating margin9900€43k€53k▲
Operating profit (loss)9901€-17k€-7k▲
Financial income75/76B€4€1▼
Recurring financial income75€4€1▼
Financial charges65/66B€19k€16k▼
Recurring financial charges65€19k€16k▼
Profit (loss) for the period before taxes9903€-36k€-23k▲
Income taxes67/77€-5k€1▲
Profit (loss) for the period9904€-31k€-23k▲
Profit (loss) for the period to be appropriated9905€-31k€-23k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-326k€-349k▼
Profit (loss) brought forward from the previous period14P€-295k€-326k▼
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
24-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 55 days late
2024
21-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 52 days late
2023
11-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 72 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
22-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 22 days late
2020
31-12
Financial
Weakest financial yearnet €-105k
Net result drops to €-105k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €100kEq €113k ▲517%
Equity rises from €18k to €113k.
02-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 33 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
20-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 20 days late
2016
10-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 10 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Sint-Pieters-Woluwe · 1 establishment unit since 2005
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Jan Olieslagerslaan 11150 Sint-Pieters-WoluweGround area
2,971 m²
Building footprint
312 m²
Volume, LiDAR
4,922 m³
Parcel 21683D0259/00L000, Brussels · tallest building 18.9 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
IPSIS WORKS
since 20052.047.991.880
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21683D0259/00L000 | Brussels | 2,971 m² | 1 · 311 m² | 18.9 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 9,858 companies in sector 73110 we hold annual accounts for 3,754. 3,044 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded03-04-1990
Fiscal year end31-12
Activities, NACEBEL
73110Advertising agencies
74401
Sources
Crossroads Bank for EnterprisesNational Bank · 34 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.