IPULAZI
ActiveIPULAZI has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-564k) and a net result of €-155k. Equity is shrinking by ~16.1% per year across the filed fiscal years. Its solvency ranks better than 5% of 31527 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2023
Profitability100▲+8
Solvency33=
Growth58=
Stability100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.06 against 0.03 in 2023), and equity is negative.
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 · 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
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
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 2025Solvency, return and age of the figures
Solvency
-48.7%
Return on assets
-13.4%
Age of the figures
18 mo
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 · Negative equity
Equity is negative for financial year 2025: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
NBB · annual accounts 2025Equity per financial year
192021222325
2019 to 2025 · latest year -€564k
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 28-10-2025, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
9 d early
2023
119 d early
2022
4 d early
2021
5 d late
2020
12 d late
2019
29 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close15-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€-564k▼ 181%
2023 · €-201k
2019: €-181k
2020: €-131k
2021: €-136k
2022: €-164k
2023: €-201k
2019 → 2025
Total assets
€1.16M▲ 52.3%
2023 · €760k
2019: €922k
2020: €852k
2021: €832k
2022: €819k
2023: €760k
2019 → 2025
Net result
€-155k▼ 320%
2023 · €-37k
2019: €-1.79M
2020: €49k
2021: €-5k
2022: €-28k
2023: €-37k
2019 → 2025
Working capital
€-562k▼ 202%
2023 · €-186k
2019: €-166k
2020: €-161k
2021: €-156k
2022: €-174k
2023: €-186k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232025Trend
Equity€-131k-€-136k▼ 3.5%€-164k▼ 20.3%€-201k▼ 22.5%€-564k▼ 181%
Operating result€-11k-€-5k▲ 57.3%€-27k▼ 509%€-37k▼ 34.0%€-136k▼ 271%
Net result€49k-€-5k€-28k▼ 495%€-37k▼ 33.2%€-155k▼ 320%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €136k in 2025 against €37k in 2023; the loss grows and 2025 is the lowest year so far.
Balance-sheet composition
2025 in colour, 2023 as the grey bar beneath
Assets €1.16M
Fixed assets
€1.13M▲ 49.2%
Current assets
€33k▲ 414%
Key figures and ratios
EBITDA
€173k▲
2023 · €-29k
Cash flow
€155k▲
2023 · €-29k
Solvency
-48.7%▼
2023 · -26.4%
Current ratio
0.06▲
2023 · 0.03
Quick ratio
0.06▲
2023 · 0.03
Debt / equity
-3.05▲
2023 · -4.79
ROE
27.4%▲
2023 · 18.4%
ROA
-13.4%▼
2023 · -4.8%
Interest coverage
9.39▲
2023 · -310.46
Debt
€1.72M▲
2023 · €961k
Debt ≤ 1 year
€595k▲
2023 · €193k
Debt > 1 year
€1.13M▲
2023 · €769k
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 · 2025 against 2023
Balance sheet
Code20232025
Assets
Total assets20/58€760k€1.16M▲
Fixed assets21/28€754k€1.13M▲
Intangible fixed assets21-€459k
Tangible fixed assets22/27€61k€666k▲
Land and buildings22€28k€468▼
Plant, machinery and equipment23€33k€0▼
Leasing and similar rights25-€665k
Financial fixed assets28€693k-
Current assets29/58€6k€33k▲
Amounts receivable within one year40/41€6k€14k▲
Trade receivables40€0€11k▲
Other amounts receivable41€6k€2k▼
Cash at bank and in hand54/58€463€19k▲
Deferred charges and accrued income490/1-€386
Equity and liabilities
Total equity and liabilities10/49€760k€1.16M▲
Equity10/15€-201k€-564k▼
Contributions10/11€745k€276k▼
Capital10€745k€276k▼
Issued capital100€745k€276k▼
Reserves13€75k€544k▲
Non-distributable reserves130/1€75k€75k=
Legal reserve130€75k€75k=
Tax-exempt reserves132-€469k
Profit (loss) carried forward14€-1.02M€-1.38M▼
Amounts payable17/49€961k€1.72M▲
Amounts payable after more than one year17€769k€1.13M▲
Financial debts170/4-€359k
Other amounts payable178/9€769k€769k=
Amounts payable within one year42/48€193k€595k▲
Current portion of amounts payable after more than one year42-€125k
Trade debts44-€0
Suppliers440/4-€0
Taxes, remuneration and social security45-€5k
Taxes450/3-€5k
Other amounts payable47/48€193k€465k▲
Income statement
Code20232025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€310k▲
Other operating charges640/8€137€60k▲
Non-recurring operating charges66A€17k€36k▲
Gross operating margin9900€-12k€269k▲
Operating profit (loss)9901€-37k€-136k▼
Financial income75/76B-€1
Recurring financial income75-€1
Financial charges65/66B€92€18k▲
Recurring financial charges65€92€18k▲
Profit (loss) for the period before taxes9903€-37k€-155k▼
Profit (loss) for the period9904€-37k€-155k▼
Profit (loss) for the period to be appropriated9905€-37k€-155k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-1.02M€-1.38M▼
Profit (loss) brought forward from the previous period14P€-983k€-1.23M▼
The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
28-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
22-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
27-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
05-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 5 days late
2020
12-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 12 days late
31-03
Financial
Back to profitnet €49k
Net result €49k after one loss-making year.
2019
29-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 29 days late
2018
08-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 8 days late
2017
20-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 20 days late
2016
31-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Keerbergen · 1 establishment unit since 2003
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.
Emiel Opdebeecklaan 443140 KeerbergenGround area
7,505 m²
Building footprint
2,772 m²
Volume, LiDAR
20,524 m³
2 parcels, Flanders · tallest building 19.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
B&H SERVICES BVBA
since 20032.133.529.054
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11050A0161/00A000 | Flanders | 5,177 m² | 1 · 2,566 m² | 19.2 m · 3 fl. |
| 24048A0257/00C003 | Flanders | 2,327 m² | 1 · 206 m² | 9.7 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 82,215 companies in sector 70200 we hold annual accounts for 52,392. 22,555 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded09-09-2003
Fiscal year end31-03
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
74142
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.