IPSYS SOLUTIONS

Active

Private limited companyfounded 201610 yrs activeQuai Saint-Léonard 13, 4000 Liège, BelgiumKBO/BCE: BE 0657.893.194

IPSYS SOLUTIONS has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €970k and a net result of €511k. Equity is growing by ~80.3% per year across the filed fiscal years. Its solvency ranks better than 34% of 3549 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.1% (low).

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Checked score

Score 2024

62 / 100

Healthy

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability88▲+10

Solvency54▲+11

Growth85=

Track record100

Bankruptcy probability, 12 months

1.1% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €60k at 30 days acceptable

Liquidity tight (current ratio 1.36 against 1.09 in 2023; short-term debt: 57% and cash: 12.2% of total assets), and 71.3% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Five signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate sector

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

Gazette · bankruptcies per sector, NACE 43

Relative position

BE, all sectors

reference

Sector 43

higher

← fewer bankruptcies more bankruptcies →

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Annual accounts: healthy financial profile

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

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

28.7%

Return on assets

15.1%

Age of the figures

21 mo

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-09-2025, 56 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 · 8 filings

Deviation from the deadline

2025

not confirmed

2024

56 d late

2023

30 d late

2022

30 d late

2021

2 d late

2020

74 d late

2019

1 d early

← before the deadline after the 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

Financials · fiscal year 2024, full schema

Turnover

€1.99M▲ 180%

2018 · €708k

2018: €708k

2018 → 2019

EBIT margin

3.2%▲ 2.5pp

2018 · 0.7%

2018: 0.7%

2018 → 2019

Net result

€511k▲ 133%

2023 · €219k

2018: €4k 2019: €47k 2020: €60k 2021: €97k 2022: €220k 2023: €219k

2018 → 2024

Working capital

€685k▲ 303%

2023 · €170k

2018: €37k 2019: €-229k 2020: €-33k 2021: €-34k 2022: €159k 2023: €170k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€134k-€130k▼ 2.4%€285k▲ 119%€505k▲ 76.7%€970k▲ 92.3%

Operating result€84k-€133k▲ 58.8%€317k▲ 138%€306k▼ 3.5%€790k▲ 159%

Net result€60k-€97k▲ 61.9%€220k▲ 127%€219k▼ 0.4%€511k▲ 133%

Result per fiscal year

Operating resultNet result

The operating result recovers in 2024; 2024 is 159% above 2023 and is the highest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €3.38M

22.7%

77.3%

Fixed assets €768k▲ 6.5%

Current assets €2.61M▲ 24.3%

Equity and liabilities €3.38M

28.7%

71.3%

Equity €970k▲ 92.3%

Debt €2.40M▲ 3.9%

The debt ratio falls from 82.1% to 71.3%. Equity and debt are higher.

Key figures and ratios

2024 value · change against 2023

EBITDA

€1.02M▲

2023 · €483k

Cash flow

€744k▲

2023 · €397k

Solvency

28.7%▲

2023 · 17.9%

Current ratio

1.36▲

2023 · 1.09

Quick ratio

1.13▲

2023 · 0.84

Debt / equity

2.48▼

2023 · 4.59

ROE

52.6%▲

2023 · 43.4%

ROA

15.1%▲

2023 · 7.8%

Interest coverage

8.90▼

2023 · 18.83

Debt

€2.40M▲

2023 · €2.31M

Debt ≤ 1 year

€1.92M▼

2023 · €1.93M

Debt > 1 year

€482k▲

2023 · €385k

Income taxes

€175k▲

2023 · €75k

Staff costs

€1.09M▼

2023 · €1.10M

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€2.82M€3.38M▲

Fixed assets21/28€720k€768k▲

Intangible fixed assets21€118k€186k▲

Tangible fixed assets22/27€595k€574k▼

Land and buildings22€218k€210k▼

Plant, machinery and equipment23€141k€115k▼

Furniture and vehicles24€236k€144k▼

Other tangible fixed assets26-€106k

Financial fixed assets28€7k€7k▼

Current assets29/58€2.10M€2.61M▲

Stocks and contracts in progress3€472k€439k▼

Stocks30/36€472k€439k▼

Amounts receivable within one year40/41€1.41M€1.38M▼

Trade receivables40€1.38M€1.33M▼

Other amounts receivable41€30k€48k▲

Current investments50/53€500€0▼

Cash at bank and in hand54/58€197k€413k▲

Deferred charges and accrued income490/1€17k€376k▲

Equity and liabilities

Total equity and liabilities10/49€2.82M€3.38M▲

Equity10/15€505k€970k▲

Contributions10/11€19k€19k=

Reserves13€47k€2k▼

Non-distributable reserves130/1€0-

Reserves not available under the articles1311€0-

Distributable reserves133€47k€2k▼

Profit (loss) carried forward14€439k€950k▲

Amounts payable17/49€2.31M€2.40M▲

Amounts payable after more than one year17€385k€482k▲

Financial debts170/4€385k€482k▲

Amounts payable within one year42/48€1.93M€1.92M▼

Current portion of amounts payable after more than one year42€291k€327k▲

Financial debts43€65k€40k▼

Credit institutions430/8€65k€40k▼

Trade debts44€1.37M€1.16M▼

Suppliers440/4€1.37M€1.16M▼

Taxes, remuneration and social security45€182k€309k▲

Taxes450/3€36k€170k▲

Remuneration and social security454/9€146k€139k▼

Other amounts payable47/48€23k€82k▲

Accrued charges and deferred income492/3€419€0▼

Income statement Code20232024

Non-recurring operating income76A-€868

Remuneration, social security and pensions62€1.10M€1.09M▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€178k€234k▲

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€117k€69k▼

Other operating charges640/8€76k€147k▲

Non-recurring operating charges66A-€509

Gross operating margin9900€1.77M€2.33M▲

Operating profit (loss)9901€306k€790k▲

Financial income75/76B€14k€10k▼

Recurring financial income75€14k€10k▼

Financial charges65/66B€26k€115k▲

Recurring financial charges65€26k€115k▲

Profit (loss) for the period before taxes9903€294k€686k▲

Income taxes67/77€75k€175k▲

Profit (loss) for the period9904€219k€511k▲

Profit (loss) for the period to be appropriated9905€219k€511k▲

Appropriation of the result

Profit (loss) to be appropriated9906€439k€950k▲

Profit (loss) brought forward from the previous period14P€220k€439k▲

Transfer from equity791/2-€45k

Profit to be distributed694/7-€45k

Return on contributions (dividend)694-€45k

Social balance

Average headcount (FTE)908725.227.5▲

The notes to these accounts (19 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 12Financial 4Filings 8

2025

25-09

NBB filing Annual accounts filed

fiscal year 2024 · full schema · 56 days late

2024

31-12

Financial Highest result since 2018net €511k ▲133%

Operating result €790k, net result €511k, both a record.

30-08

NBB filing Annual accounts filed

fiscal year 2023 · full schema · 30 days late

2023

31-12

Financial Equity above €500kEq €505k ▲76.7%

6 profitable years in a row build equity to €505k.

30-08

NBB filing Annual accounts filed

fiscal year 2022 · full schema · 30 days late

2022

31-12

Financial Equity above €200kEq €285k ▲119%

5 profitable years in a row build equity to €285k.

02-08

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 2 days late

2021

13-10

NBB filing Annual accounts filed

fiscal year 2020 · full schema · 74 days late

2020

31-12

Financial Equity above €100kEq €134k ▲82.4%

3 profitable years in a row build equity to €134k.

30-07

NBB filing Annual accounts filed

fiscal year 2019 · full schema

2019

15-10

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 76 days late

2018

27-09

NBB filing Annual accounts filed

fiscal year 2017 · micro schema · 58 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, no change since 2026

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

08-01-2026 Aïssa Harika: Resigned as Director

08-01-2026 Germain Petit: Resigned as Director

Location & real-estate footprint

Registered office, Liège · 1 establishment unit since 2016

establishment approximate The establishment unit on the map

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.

Quai Saint-Léonard 134000 Liège

Ground area

803 m²

Parcel 62810B0618/00P000, Wallonia. Linked by address, not a title deed.

1 establishment unit