Equity
IPWal has made a profit without a break since 2021.
5 names are hidden.
Create a free account or sign in to see the names.
IPWal has made a profit without a break since 2021.
The result fell in 2025: the 2024 profit included a one-off income of €65,751.
The accounts state no turnover.
€879,544 of the debts are secured on the company's own assets. In 2022 that was €1.1m.
The 2019 accounts came latest: 60 days after the end of the period.
Board changed. Latest change 17-03-2026 · 1 in office.
2 names are hidden.
Create a free account or sign in to see the names.
In July 2024, 1,603 companies had the same profile as IPWal has now. Each dot stands for 5 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,603 companies, not a prediction for IPWal. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The Checked score is hidden.
Create a free account or sign in to see the score and the bankruptcy probability.
6 signals are hidden.
Create a free account or sign in to see the signals.
5 names are hidden.
Create a free account or sign in to see the names.
| Company | ||||
|---|---|---|---|---|
| IPWal Gembloux | €1.1m | €114,522 | 9.4% | - |
| Analytical Sciences & Management Chaumont-Gistoux | €0.9m | €118,882 | 14.6% | - |
| GSF ENGINEERING Gembloux | €1.5m | €164,597 | 42.7% | - |
| Atticus Sports Management Brussels | €1.2m | €97,927 | 3.1% | 1 |
| STUDIEBUREAU DIEDERIK AERTS Bilzen-Hoeselt | €0.9m | €129,788 | 37.7% | - |
| Guy Security Consultancy Antwerp | €1.0m | €150,700 | 20.1% | 0 |
| TD Consultancy Services Sint-Martens-Latem | €1.4m | €180,329 | 98.6% | - |
These companies have the same main activity as IPWal: other professional, scientific and technical activities (NACE 74999). They are comparable in size and age: total assets between €869,000 and €1.5m, founded between 2016 and 2020.
IPWal files the abbreviated format. That format states no turnover. The gross margin rose from -€1,369 in 2019 to €114,522 in 2025.
The balance sheet grew most in 2020 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
The turnover shown is an estimate from the gross margin.
Turnover ≈ €290,000. Estimated: probably between €180,000 and €540,000.
Higher than 22% of 819 companies in 2025.
Higher than 26% of 784 companies in 2025.
Higher than 39% of 792 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: top quarter · Working capital: middle half
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||
20/58 |
1.1m | 1.3m | 1.3m | 1.4m | 1.6m | 1.6m | 613,060 | |
21/28 |
1.0m | 1.1m | 1.3m | 1.4m | 1.5m | 1.5m | 540,773 | |
22/27 |
1.0m | 1.1m | 1.3m | 1.4m | 1.5m | 1.5m | 540,773 | |
22 |
1.0m | 1.1m | 1.3m | 1.3m | 1.5m | 1.5m | - | |
24 |
3,596 | 4,349 | 5,103 | 4,790 | 5,440 | 6,089 | - | |
27 |
- | - | - | - | - | - | 540,773 | |
29/58 |
112,951 | 247,150 | 31,187 | 87,154 | 119,474 | 59,954 | 72,287 | |
40/41 |
10,493 | 243,460 | 13,542 | 85,929 | 113,283 | 18,350 | 35,785 | |
40 |
8,175 | 27,546 | 11,412 | 85,589 | 106,807 | 15,800 | 16,818 | |
41 |
2,318 | 215,915 | 2,131 | 340 | 6,477 | 2,550 | 18,968 | |
54/58 |
102,457 | 3,690 | 17,645 | 1,225 | 6,139 | 41,551 | 36,453 | |
490/1 |
- | - | - | 0 | 52 | 54 | 49 | |
| Balance sheet: equity and liabilities | ||||||||
10/49 |
1.1m | 1.3m | 1.3m | 1.4m | 1.6m | 1.6m | 613,060 | |
10/15 |
107,320 | 90,176 | -18,764 | -76,499 | -109,844 | -155,273 | -65,083 | |
10/11 |
6,300 | 6,300 | 6,300 | 6,300 | 6,300 | 6,300 | 6,300 | |
100 |
- | - | - | - | - | - | 18,600 | |
101 |
- | - | - | - | - | - | 12,300 | |
14 |
101,020 | 83,876 | -25,064 | -82,799 | -116,144 | -161,573 | -71,383 | |
17/49 |
1.0m | 1.3m | 1.3m | 1.5m | 1.7m | 1.7m | 678,143 | |
17 |
919,291 | 1.1m | 1.2m | 1.3m | 1.4m | 1.5m | 415,599 | |
170/4 |
919,291 | 1.1m | 1.2m | 1.3m | 1.4m | 1.5m | 415,599 | |
42/48 |
113,837 | 171,436 | 146,677 | 212,756 | 276,564 | 237,708 | 261,044 | |
42 |
105,342 | 112,868 | 111,847 | 110,910 | 109,949 | 60,605 | 9,156 | |
43 |
6,815 | 6,914 | 7,013 | 6,201 | 6,201 | - | - | |
430/8 |
6,815 | 6,914 | 7,013 | 6,201 | 6,201 | - | - | |
44 |
81 | 1,177 | 7,021 | 79,390 | 88,509 | 74,988 | 149,521 | |
440/4 |
81 | 1,177 | 7,021 | 79,390 | 88,509 | 74,988 | 149,521 | |
45 |
1,599 | 9,416 | 9,603 | 5,063 | 9,914 | 17,130 | 6,152 | |
450/3 |
1,599 | 9,416 | 9,603 | 5,063 | 9,914 | 9,996 | 954 | |
454/9 |
- | - | - | - | - | 7,135 | 5,198 | |
47/48 |
0 | 41,062 | 11,193 | 11,193 | 61,992 | 84,985 | 96,214 | |
492/3 |
5,264 | 14,989 | 10,521 | 11,246 | 10,345 | 881 | 1,500 | |
| Income statement | ||||||||
76A |
- | 65,751 | 0 | 184 | 946 | - | - | |
9900 |
114,522 | 197,831 | 154,788 | 130,712 | 194,353 | 23,169 | -1,369 | |
62 |
- | - | 0 | 34 | 49,389 | 52,286 | 48,833 | |
630 |
61,807 | 61,119 | 68,455 | 68,262 | 68,007 | 35,602 | 16,508 | |
631/4 |
- | - | 0 | -5,000 | 630 | 4,370 | - | |
640/8 |
11,163 | 11,684 | 11,452 | 15,827 | 11,052 | 1,670 | 901 | |
9901 |
41,552 | 125,028 | 74,881 | 51,589 | 65,275 | -70,760 | -67,611 | |
75/76B |
- | - | 0 | 496 | - | 454 | 0 | |
75 |
- | - | 0 | 496 | - | 454 | 0 | |
65/66B |
18,824 | 15,926 | 17,147 | 18,740 | 19,765 | 19,765 | 3,695 | |
65 |
18,824 | 15,926 | 17,147 | 18,740 | 19,765 | 19,765 | 3,695 | |
9903 |
22,728 | 109,102 | 57,734 | 33,345 | 45,510 | -90,071 | -71,306 | |
67/77 |
5,583 | 162 | - | 0 | 81 | 119 | 77 | |
9904 |
17,145 | 108,940 | 57,734 | 33,345 | 45,429 | -90,190 | -71,383 | |
9905 |
17,145 | 108,940 | 57,734 | 33,345 | 45,429 | -90,190 | -71,383 | |
| Appropriation of the result | ||||||||
9906 |
101,020 | 83,876 | -25,064 | -82,799 | -116,144 | -161,573 | -71,383 | |
14P |
83,876 | -25,064 | -82,799 | -116,144 | -161,573 | - | - | |
| Social balance sheet | ||||||||
9087 |
- | 0 | 0 | 0 | 1.6 | 1 | 0.8 | |
Hours worked1013 |
- | - | - | - | 1,771 | 1,649 | 1,615 | |
| Document | ||||||||
The notes to these accounts have 18 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 31-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-07-2026 | 2026-00365783 | |
| 31-12-2024 | full format | 14-07-2025 | 2025-00268361 | |
| 31-12-2023 | full format | 14-08-2024 | 2024-00343930 | |
| 31-12-2022 | full format | 21-08-2023 | 2023-00337354 | |
| 31-12-2021 | full format | 03-08-2022 | 2022-20265935 | |
| 31-12-2020 | full format | 16-08-2021 | 2021-48600029 | |
| 31-12-2019 | full format | 29-09-2020 | 2020-56200128 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| 103,359 | 186,147 | 143,336 | 119,852 | 133,282 | -35,158 | -51,103 | ||
| 78,951 | 170,059 | 126,189 | 101,607 | 113,436 | -54,588 | -54,875 | ||
| 0 | 29,704 | 3,504 | -39,890 | 66,366 | 1.0m | 557,281 | ||
| 98,767 | -13,955 | 16,420 | -4,914 | -35,412 | 5,098 | - | ||
| -886 | 75,714 | -115,489 | -125,602 | -157,090 | -177,754 | -188,757 | ||
| 9.4% | 6.7% | -1.4% | -5.3% | -7.0% | -9.7% | -10.6% | ||
| 0.99 | 1.44 | 0.21 | 0.41 | 0.43 | 0.25 | 0.28 | ||
| 9.68 | 13.88 | - | - | - | - | - | ||
| 16.0% | 120.8% | - | - | - | - | - | ||
| 1.5% | 8.1% | 4.4% | 2.3% | 2.9% | -5.7% | -11.6% | ||
| 5.49 | 11.69 | 8.36 | 6.40 | 6.74 | - | - |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2021 |
|---|---|
| 0.9 | |
| Joined | 2 |
| Left | 3 |
Source: social balance sheet in the 2021 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €879,544 | €959,085 | €1.0m | €1.1m | - |
| Mortgages, amount registered | €400,000 | €400,000 | €400,000 | €400,000 | - |
| €844,910 | €844,910 | €844,910 | €844,910 | - | |
| Carrying value of the mortgaged assets | €1.0m | €1.1m | €1.3m | €1.3m | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €29,704 | €3,504 | - | €66,366 |
| €61,807 | €61,119 | €68,455 | €68,262 | €68,007 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 67% lower than in 2024 and the lowest since 2020.
Debt's share of the balance-sheet total falls from 93.3% to 90.6%. Equity is higher and debt is lower.
2 names are hidden.
Create a free account or sign in to see the names.
5 names are hidden.
Create a free account or sign in to see the names.
1 name is hidden.
Create a free account or sign in to see the name.
3 names are hidden.
Create a free account or sign in to see the names.
1 name is hidden.
Create a free account or sign in to see the name.
The network starts from the directors of IPWal. Every other company they run is a node.
1 name is hidden.
Create a free account or sign in to see the name.
Deadline for the 2026 accounts: 31-07-2027
8 names are hidden.
Create a free account or sign in to see the names.
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
On 5 February 2019, IPWal was incorporated by three natural persons, with a starting capital of €18,600.12 In 2021 the registered office moved to Gembloux.3 has served as sole director since 2026.4 Total assets went from €613,060 in 2019 to €1.1m in 2025 and headcount from 0.8 full-time equivalents in 2019 to 1.6 in 2021.5
1 name is hidden.
Create a free account or sign in to see the name.
| Establishment | Since | Unit number |
|---|---|---|
| Rue des Haipes,Sauv. 13 registered office 5030 Gembloux | 05-06-2019 | 2.289.685.592 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0719.836.802
If something looks wrong or is missing, please tell us.