INCIPIO
ActiveINCIPIO has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €287k and a net result of €49k. Equity is growing by ~18.5% per year across the filed fiscal years. Its solvency ranks better than 46% of 37978 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
100
/ 100
Excellent▲ +34 vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability86▼-10
Solvency97▲+53
Growth78=
Stability100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 3.1 against 0.85 in 2023), and 45.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers 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 →
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 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
61 d late
2023
30 d late
2022
31 d late
2021
31 d late
2020
31 d late
2019
31 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€287k▲ 20.8%
2023 · €238k
2021: €182k
2022: €192k
2023: €238k
2021 → 2024
Total assets
€527k▼ 32.6%
2023 · €782k
2021: €502k
2022: €666k
2023: €782k
2021 → 2024
Net result
€49k▲ 8.0%
2023 · €46k
2021: €26k
2022: €28k
2023: €46k
2021 → 2024
Working capital
€294k
2023 · €-65k
2021: €-21k
2022: €-22k
2023: €-65k
2021 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2021202220232024Trend
Equity€182k-€192k▲ 5.3%€238k▲ 23.8%€287k▲ 20.8%
Operating result€41k-€41k▼ 0.9%€56k▲ 37.8%€38k▼ 31.9%
Net result€26k-€28k▲ 4.9%€46k▲ 65.2%€49k▲ 8.0%
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 falls in 2024; 2024 is 32% below 2023 and is the lowest year so far.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €527k
Fixed assets
€94k▼ 78.0%
Current assets
€434k▲ 21.8%
Equity and liabilities €527k
Equity
€287k▲ 20.8%
Debt
€240k▼ 55.9%
The debt ratio falls from 69.6% to 45.5%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€56k▼
2023 · €68k
Cash flow
€67k▲
2023 · €58k
Solvency
54.5%▲
2023 · 30.4%
Current ratio
3.10▲
2023 · 0.85
Quick ratio
3.10▲
2023 · 0.85
Debt / equity
0.84▼
2023 · 2.29
ROE
17.2%▼
2023 · 19.2%
ROA
9.4%▲
2023 · 5.8%
Interest coverage
11.94▼
2023 · 13.24
Debt
€240k▼
2023 · €544k
Debt ≤ 1 year
€140k▼
2023 · €421k
Debt > 1 year
€100k▼
2023 · €123k
Income taxes
€66k▲
2023 · €19k
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
Total assets
20/58€782k€527k▼
Fixed assets
21/28€426k€94k▼
Tangible fixed assets
22/27€74k€94k▲
Financial fixed assets
28€352k-
Current assets
29/58€356k€434k▲
Amounts receivable within one year
40/41€218k€138k▼
Cash & bank
54/58€38k€193k▲
Total equity & liabilities
10/49€782k€527k▼
Equity
10/15€238k€287k▲
Contributions / capital
10/11€6k€6k=
Reserves
13€231k€281k▲
Amounts payable
17/49€544k€240k▼
Amounts payable after one year
17€123k€100k▼
Amounts payable within one year
42/48€421k€140k▼
Trade debts payable within one year
44€11k€44k▲
Income statement
Code20232024
Gross operating margin
9900€71k€58k▼
Operating result
9901€56k€38k▼
Financial income
75€14k€36k▲
Financial charges
65€5k€5k▼
Result before taxes
9903€65k€69k▲
Income taxes
67/77€19k€66k▲
Net result for the period
9904€46k€49k▲
Result to be appropriated
9905€46k€49k▲
Timeline · acts, filings and financial milestones
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
22-04
State Gazette act
Director changes
2024
31-12
Financial
Highest result since 2021net €49k ▲8%
Net result €49k, the highest in the series.
31-12
Financial
Liquidity quadruplescurrent ratio 3.10
Current ratio from 0.85 to 3.10; short-term debt falls from €421k to €140k.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
31-12
Financial
Equity above €200kEq €238k ▲23.8%
3 profitable years in a row build equity to €238k.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
1 director, last change in 2025
Joseph Custers
CurrentDirector · since 22-04-2025
22-04-2025
Appointed as Director
Not every act has been read: a resignation may be missing here
5 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Heusden-Zolder · 1 establishment unit since 2010
Ground area
1,919 m²
Building footprint
338 m²
Volume, LiDAR
1,859 m³
2 parcels, Flanders · tallest building 9.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Incipio
since 20102.193.406.362
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71502C0698/00W000 | Flanders | 1,217 m² | 1 · 184 m² | 9.2 m · 2 fl. |
| 71502C0020/00E000 | Flanders | 703 m² | 1 · 154 m² | 9.2 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.
Comparable companies · same sector, comparable size
Similar companies · same sector, comparable size
GECKO
BE 0719.440.189
Flobecq · Eq €287k
Aquarius Business Consultants
BE 0883.164.709
Antwerpen · Eq €287k
DPB Services
BE 0816.612.712
Izegem · Eq €287k
NOVIGEMS
BE 0647.811.530
Ukkel · Eq €287k
Idicon
BE 0797.428.486
Gent · Eq €287k
Of 82,118 companies in sector 70200 we hold annual accounts for 51,404. 37,889 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded02-11-2010
Fiscal year end31-12
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
64200Holdings
64210Activities of holding companies
68201Renting and operating of own or leased residential real estate, excluding social housing
Sources
Crossroads Bank for EnterprisesBelgian Official Gazette · 1 actNational Bank · 14 filingsAddress and cadastre registers
Data from official sources, last processed on 08-08-2026. Scores and ratios are computed by Checked and are not a credit decision.