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InSky

Active
Public limited companyfounded 20223 yrs activeGasthuisstraat 31, 1000 Brussel, BelgiumKBO/BCE: BE 0793.925.204
Summary

The computed 12-month bankruptcy probability of InSky is 4.7% (elevated). The 2025 annual accounts show negative equity (-€35.1m) and a net result of -€24.0m. Equity is shrinking by ~167.1% per year across the filed fiscal years. Its solvency ranks better than 10% of 82 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.

Risk analysisWatch ReportCompare
InSkyActiveChecked score 35/100
Risk analysis ReportCompare

Overview

Activity
Wired, wireless and satellite telecommunications
NACE 61100Telecommunications resale and intermediation services NACE 61200Computing infrastructure, data processing, hosting and related activities NACE 63100
#6 employer in the Brussels-Capital Region, Telecommunications sector1 site
Size
€110.2mtotal assets 2025
Staff
167.2 FTE
Equity
-€35.1m
Loss
-€24.0m
Financial health
35 Weak Checked score 2025
Bankruptcy chance 12 m
4.7%
Structure
Parent
DIGI Communications Belgium · 100%
Accounts filed 28 d late1 of 4 deeds read
Why 35- Liquidity: current ratio 0.23, cash €7,268, halved- Loss of €24.0m, the second in a row (FY 2025)- Latest accounts 28 days late; 1 of the last 3 late- Negative equity -€35.1mShow the evidence

Checked score

Score 2025
35 / 100
Weak
Probability in this band: 4.2% to 15.0%
Better than 11% of its sector peers (all companies)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Weak
Solvency 0-10
equity -31.8% of total assets
Liquidity 37+37
short-term debt 31.0% · cash 0.0%
Profitability 0=
return on assets -21.8%
Bankruptcy probability, 12 months
4.7% Elevated
0%0.5%1.5%4%10%≥ 25%

About 5 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 1.0% (18 companies)
Last 23 months 12-2024: 4.3%lowest value 01-2025: 4.3%● 0.0% vs 12-2024lowest value 02-2025: 4.3%● 0.0% vs 01-2025lowest value 03-2025: 4.3%▲ +1.3% vs 02-2025 04-2025: 4.3%● 0.0% vs 03-2025 05-2025: 4.3%● 0.0% vs 04-2025 06-2025: 4.5%▲ +2.5% vs 05-2025 07-2025: 4.5%▲ +2.1% vs 06-2025 08-2025: 5.0%▲ +10.2% vs 07-2025 09-2025: 5.4%▲ +7.0% vs 08-2025 10-2025: 11.9%▲ +123% vs 09-2025highest value 11-2025: 5.8%▼ -51.7% vs 10-2025 12-2025: 5.8%● 0.0% vs 11-2025 01-2026: 5.8%▲ +0.2% vs 12-2025 02-2026: 5.8%● 0.0% vs 01-2026 03-2026: 5.8%▲ +1.1% vs 02-2026 04-2026: 6.6%▲ +12.9% vs 03-2026 05-2026: 6.8%▲ +3.5% vs 04-2026 06-2026: 7.1%▲ +4.1% vs 05-2026 07-2026: 7.0%▼ -1.7% vs 06-2026 08-2026: 6.7%▼ -3.6% vs 07-2026 09-2026: 4.7%▼ -30.1% vs 08-2026 10-2026: 4.7%● 0.0% vs 09-2026
  • Liquidity: current ratio 0.23, cash €7,268, halved raises the probability
  • Loss of €24.0m, the second in a row (FY 2025) raises the probability
  • Latest accounts 28 days late; 1 of the last 3 late raises the probability
  • Negative equity -€35.1m raises the probability
No credit on open account
Liquidity short (current ratio 0.23 against 0.17 in 2024; short-term debt: 31% and cash: 0% of total assets), and equity is negative.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (all companies). Better than this share of them on solvency 2%, liquidity 37%, profitability 4%, growth against the median 2%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 02-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Liquidity: current ratio 0.23, cash €7,268, halved
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Loss of €24.0m, the second in a row (FY 2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Latest accounts 28 days late; 1 of the last 3 late
In the bankruptcy model this factor raises the probability.
NBB · filings
raises risk · Negative equity -€35.1m
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
232425
2023 to 2025 · latest year -€35.1m
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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 · 3 filings
Deviation from the deadline
2025
28 d late
2024
89 d late
2023
on the day
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 3 accounts on average 39 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 28 August (3 of the last 3 filed years within 61 days of that day).
Companies Code · seven months
Position in the running window
03-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · 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
  1. Annual accounts filedfiscal year 2025 · full…
  2. Capital & shares · Statutes amendmentAuditor report · Capital increase…
  3. Weakest financial yearnet -€24.0m

Key points

  • Risk: Negative equityfiscal year 2025: debts exceed assets -€35.1m View
  • Risk: 3 loss-making years in a rowloss fiscal year 2025 -€24.0m View
  • Caution: Equity fell in 2025from -€11.1m to -€35.1m ▼ 217% View
  • Caution: Among the weakest 5% on equitysector median €710,464 · 82 companies -€35.1m View
  • Controlled by DIGI Communications Belgiumknown shareholders 100% 100% View

By topic

Financials

Fiscal year
2025
Total assets
€110.2m
Loss
-€24.0m
Solvency
-31.8%
Total assets▲ 51.6%
Net result
20232025
Go to Financials

Timeline

Events
5
Since
2024
Next accounts
by 31-07-2027
  1. 28-08-2026Annual accounts filed
  2. 24-04-2026Capital & shares · Statutes amendment
  3. 31-12-2025Weakest financial year
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Wired, wireless and satellite telecommunicationsNACE 61100
Founded
24-11-2022
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Go further with this company

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