InSky
ActiveSummary
The computed 12-month bankruptcy probability of InSky is 5.5% (elevated). The 2025 annual accounts show negative equity (€-35.11M) and a net result of €-24.03M. Equity is shrinking by ~167.1% per year across the filed fiscal years. Its solvency ranks better than 10% of 72 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0▼-10
Growth32=
Track record94
Bankruptcy probability, 12 months
5.5%
Elevated
0%0.5%1.5%4%10%≥ 25%
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.
Credit check for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 61
Relative position
BE, all sectors
reference
Telecommunications (NACE 61)
about 159% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
-31.8%
Return on assets
-21.8%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
232425
2023 to 2025 · latest year €-35.11M
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 filingsDeviation from the deadline
2025
28 d late
2024
89 d late
2023
on the day
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-24.03M▼ 84.7%
2024 · €-13.01M
2023: €-3.08Mhighest in 3 years
2024: €-13.01M▼ -323% vs 2023
2025: €-24.03M▼ -84.7% vs 2024lowest in 3 years
2023 → 2025
Working capital
€-26.39M▲ 60.4%
2024 · €-66.58M
2023: €-4.53Mhighest in 3 years
2024: €-66.58M▼ -1370% vs 2023lowest in 3 years
2025: €-26.39M▲ +60.4% vs 2024
2023 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€1.92M-€-11.08M€-35.11M▼ 217%
2023: €1.92Mhighest in 3 years
2024: €-11.08M▼ -676% vs 2023
2025: €-35.11M▼ -217% vs 2024lowest in 3 years
Operating result€-3.08M-€-11.81M▼ 283%€-19.70M▼ 66.8%
2023: €-3.08Mhighest in 3 years
2024: €-11.81M▼ -283% vs 2023
2025: €-19.70M▼ -66.8% vs 2024lowest in 3 years
Net result€-3.08M-€-13.01M▼ 323%€-24.03M▼ 84.7%
2023: €-3.08Mhighest in 3 years
2024: €-13.01M▼ -323% vs 2023
2025: €-24.03M▼ -84.7% vs 2024lowest in 3 years
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €19.70M in 2025 against €11.81M in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €110.24M
Fixed assets
€102.43M ▲ 74.6%
Current assets
€7.81M ▼ 44.5%
Key figures and ratios
EBITDA
€-17.15M▼
2024 · €-11.10M
Cash flow
€-21.48M▼
2024 · €-12.30M
Solvency
-31.8%▼
2024 · -15.2%
Current ratio
0.23▲
2024 · 0.17
Debt to equity
-4.14▲
2024 · -7.56
ROA
-21.8%▼
2024 · -17.9%
Interest coverage
-3.61▲
2024 · -8.82
Debt
€145.35M▲
2024 · €83.81M
Debt ≤ 1 year
€34.20M▼
2024 · €80.65M
Debt > 1 year
€108.86M▲
2024 · €1.94M
Income taxes
€21▼
2024 · €17k
Staff costs
€10.83M▲
2024 · €4.74M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 76 lines
Balance sheet
Code20242025
Assets
Total assets20/58€72.73M€110.24M▲
Formation expenses20€5k€4k▼
Fixed assets21/28€58.65M€102.43M▲
Intangible fixed assets21€165k€2.08M▲
Tangible fixed assets22/27€58.20M€100.02M▲
Plant, machinery and equipment23€933k€34.52M▲
Furniture and vehicles24€1.45M€2.58M▲
Leasing and similar rights25€2.43M€1.91M▼
Other tangible fixed assets26€764k€635k▼
Assets under construction and advance payments27€52.62M€60.37M▲
Financial fixed assets28€289k€329k▲
Other financial fixed assets284/8€289k€329k▲
Amounts receivable and cash guarantees285/8€289k€329k▲
Current assets29/58€14.07M€7.81M▼
Stocks and contracts in progress3€0€0=
Stocks30/36€0-
Goods purchased for resale34€0-
Amounts receivable within one year40/41€13.54M€6.86M▼
Trade receivables40€1.08M€1.62M▲
Other amounts receivable41€12.46M€5.24M▼
Cash at bank and in hand54/58€144k€7k▼
Deferred charges and accrued income490/1€390k€943k▲
Equity and liabilities
Total equity and liabilities10/49€72.73M€110.24M▲
Equity10/15€-11.08M€-35.11M▼
Contributions10/11€5.00M€5.00M=
Capital10€5.00M€5.00M=
Issued capital100€20.00M€20.00M=
Uncalled capital101€15.00M€15.00M=
Profit (loss) carried forward14€-16.08M€-40.11M▼
Amounts payable17/49€83.81M€145.35M▲
Amounts payable after more than one year17€1.94M€108.86M▲
Financial debts170/4€1.94M€107.75M▲
Leasing and similar obligations172€1.94M€1.45M▼
Other loans174-€106.30M
Other amounts payable178/9-€1.11M
Amounts payable within one year42/48€80.65M€34.20M▼
Current portion of amounts payable after more than one year42€476k€509k▲
Financial debts43€205k€0▼
Credit institutions430/8€205k€0▼
Trade debts44€19.97M€18.13M▼
Suppliers440/4€19.97M€18.13M▼
Taxes, remuneration and social security45€938k€2.61M▲
Taxes450/3€112k€627k▲
Remuneration and social security454/9€826k€1.98M▲
Other amounts payable47/48€59.07M€12.95M▼
Accrued charges and deferred income492/3€1.22M€2.30M▲
Income statement
Code20242025
Operating income70/76A€5.86M€9.13M▲
Own construction capitalised72€5.53M€7.79M▲
Other operating income74€327k€1.24M▲
Non-recurring operating income76A-€94k
Operating charges60/66A€17.67M€28.82M▲
Goods for resale, raw materials and consumables60€622k€0▼
Purchases600/8€47k€0▼
Change in stocks: decrease (increase)609€575k€0▼
Services and other goods61€11.56M€15.32M▲
Remuneration, social security and pensions62€4.74M€10.83M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€708k€2.54M▲
Other operating charges640/8€34k€127k▲
Operating profit (loss)9901€-11.81M€-19.70M▼
Financial income75/76B€103k€441k▲
Recurring financial income75€103k€441k▲
Income from financial fixed assets750€103k€102▼
Income from current assets751-€417k
Other financial income752/9€101€24k▲
Financial charges65/66B€1.29M€4.77M▲
Recurring financial charges65€1.29M€4.77M▲
Debt charges650€1.26M€4.76M▲
Other financial charges652/9€30k€15k▼
Profit (loss) for the period before taxes9903€-12.99M€-24.03M▼
Income taxes67/77€17k€21▼
Taxes670/3€17k€21▼
Profit (loss) for the period9904€-13.01M€-24.03M▼
Profit (loss) for the period to be appropriated9905€-13.01M€-24.03M▼
Appropriation of the result
Profit (loss) to be appropriated9906€-16.08M€-40.11M▼
Profit (loss) brought forward from the previous period14P€-3.08M€-16.08M▼
Social balance
Average headcount (FTE)908780.5167.2▲
The notes to these accounts (94 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Operating income70/76A | - | €5.86M | €9.13M | ▲ 55.7% |
| Own construction capitalised72 | - | €5.53M | €7.79M | ▲ 40.9% |
| Other operating income74 | - | €327k | €1.24M | ▲ 278% |
| Non-recurring operating income76A | - | - | €94k | - |
| Operating charges60/66A | - | €17.67M | €28.82M | ▲ 63.1% |
| Goods for resale, raw materials and consumables60 | - | €622k | €0 | ▼ 100% |
| Purchases600/8 | - | €47k | €0 | ▼ 100% |
| Change in stocks: decrease (increase)609 | - | €575k | €0 | ▼ 100% |
| Services and other goods61 | - | €11.56M | €15.32M | ▲ 32.5% |
| Remuneration, social security and pensions62 | €456k | €4.74M | €10.83M | ▲ 128% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €32k | €708k | €2.54M | ▲ 259% |
| Other operating charges640/8 | €2k | €34k | €127k | ▲ 272% |
| Gross operating margin9900 | €-2.59M | - | - | - |
| Operating profit (loss)9901 | €-3.08M | €-11.81M | €-19.70M | ▼ 66.8% |
| Financial income75/76B | €5k | €103k | €441k | ▲ 328% |
| Recurring financial income75 | €5k | €103k | €441k | ▲ 328% |
| Income from financial fixed assets750 | - | €103k | €102 | ▼ 99.9% |
| Income from current assets751 | - | - | €417k | - |
| Other financial income752/9 | - | €101 | €24k | ▲ 23,254% |
| Financial charges65/66B | €2k | €1.29M | €4.77M | ▲ 270% |
| Recurring financial charges65 | €2k | €1.29M | €4.77M | ▲ 270% |
| Debt charges650 | - | €1.26M | €4.76M | ▲ 278% |
| Other financial charges652/9 | - | €30k | €15k | ▼ 50.7% |
| Profit (loss) for the period before taxes9903 | €-3.08M | €-12.99M | €-24.03M | ▼ 84.9% |
| Income taxes67/77 | - | €17k | €21 | ▼ 99.9% |
| Taxes670/3 | - | €17k | €21 | ▼ 99.9% |
| Profit (loss) for the period9904 | €-3.08M | €-13.01M | €-24.03M | ▼ 84.7% |
| Profit (loss) for the period to be appropriated9905 | €-3.08M | €-13.01M | €-24.03M | ▼ 84.7% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €8.34M | €72.73M | €110.24M | ▲ 51.6% |
| Formation expenses20 | €7k | €5k | €4k | ▼ 33.3% |
| Fixed assets21/28 | €6.45M | €58.65M | €102.43M | ▲ 74.6% |
| Intangible fixed assets21 | €17k | €165k | €2.08M | ▲ 1,158% |
| Tangible fixed assets22/27 | €6.42M | €58.20M | €100.02M | ▲ 71.9% |
| Plant, machinery and equipment23 | €69k | €933k | €34.52M | ▲ 3,601% |
| Furniture and vehicles24 | €197k | €1.45M | €2.58M | ▲ 77.7% |
| Leasing and similar rights25 | - | €2.43M | €1.91M | ▼ 21.2% |
| Other tangible fixed assets26 | €251k | €764k | €635k | ▼ 16.8% |
| Assets under construction and advance payments27 | €5.90M | €52.62M | €60.37M | ▲ 14.7% |
| Financial fixed assets28 | €10k | €289k | €329k | ▲ 13.8% |
| Other financial fixed assets284/8 | - | €289k | €329k | ▲ 13.8% |
| Amounts receivable and cash guarantees285/8 | - | €289k | €329k | ▲ 13.8% |
| Current assets29/58 | €1.88M | €14.07M | €7.81M | ▼ 44.5% |
| Stocks and contracts in progress3 | €575k | €0 | €0 | - |
| Stocks30/36 | €575k | €0 | - | - |
| Goods purchased for resale34 | - | €0 | - | - |
| Amounts receivable within one year40/41 | €1.26M | €13.54M | €6.86M | ▼ 49.3% |
| Trade receivables40 | €165k | €1.08M | €1.62M | ▲ 50.3% |
| Other amounts receivable41 | €1.09M | €12.46M | €5.24M | ▼ 57.9% |
| Cash at bank and in hand54/58 | €19k | €144k | €7k | ▼ 95.0% |
| Deferred charges and accrued income490/1 | €29k | €390k | €943k | ▲ 142% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €8.34M | €72.73M | €110.24M | ▲ 51.6% |
| Equity10/15 | €1.92M | €-11.08M | €-35.11M | ▼ 217% |
| Contributions10/11 | €5.00M | €5.00M | €5.00M | = |
| Capital10 | €5.00M | €5.00M | €5.00M | = |
| Issued capital100 | €20.00M | €20.00M | €20.00M | = |
| Uncalled capital101 | €15.00M | €15.00M | €15.00M | = |
| Profit (loss) carried forward14 | €-3.08M | €-16.08M | €-40.11M | ▼ 149% |
| Amounts payable17/49 | €6.41M | €83.81M | €145.35M | ▲ 73.4% |
| Amounts payable after more than one year17 | - | €1.94M | €108.86M | ▲ 5,507% |
| Financial debts170/4 | - | €1.94M | €107.75M | ▲ 5,450% |
| Leasing and similar obligations172 | - | €1.94M | €1.45M | ▼ 25.5% |
| Other loans174 | - | - | €106.30M | - |
| Other amounts payable178/9 | - | - | €1.11M | - |
| Amounts payable within one year42/48 | €6.41M | €80.65M | €34.20M | ▼ 57.6% |
| Current portion of amounts payable after more than one year42 | - | €476k | €509k | ▲ 7.1% |
| Financial debts43 | - | €205k | €0 | ▼ 100% |
| Credit institutions430/8 | - | €205k | €0 | ▼ 100% |
| Trade debts44 | €6.05M | €19.97M | €18.13M | ▼ 9.2% |
| Suppliers440/4 | €6.05M | €19.97M | €18.13M | ▼ 9.2% |
| Taxes, remuneration and social security45 | €205k | €938k | €2.61M | ▲ 178% |
| Taxes450/3 | €32k | €112k | €627k | ▲ 461% |
| Remuneration and social security454/9 | €174k | €826k | €1.98M | ▲ 140% |
| Other amounts payable47/48 | €155k | €59.07M | €12.95M | ▼ 78.1% |
| Accrued charges and deferred income492/3 | €69 | €1.22M | €2.30M | ▲ 88.0% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €-3.08M | €-13.01M | €-24.03M | ▼ 84.7% |
| + Depreciation and write-downs630 | €32k | €708k | €2.54M | ▲ 259% |
| Operating cash flow (approximation) | €-3.04M | €-12.30M | €-21.48M | ▼ 74.7% |
| Investment in fixed assets (approximation) | - | €-52.91M | €-46.32M | ▲ 12.5% |
| Change in cash | - | €125k | €-137k | ▼ 210% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 28 days late
2025
31-12
Financial
Weakest financial yearnet €-24.03M
Net result drops to €-24.03M, the lowest in the series.
28-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 89 days late
12-02
State Gazette act
General meeting · Demerger
Incorporation · Founding capital · Yorik DESMYTTERE
2024
11-12
State Gazette act
Demerger · Corporate purpose
Accounting effect · Share issue · Yorik Desmyttere
25-10
State Gazette act
Board meeting · Demerger
Corporate purpose · Share issue
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 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, Brussel · 1 establishment unit since 2022
Ground area
3.3 ha
Building footprint
4.1 ha
Volume, LiDAR
496,479 m³
2 parcels, Brussels, Wallonia · tallest building 52.5 m, ±16 floors. Linked by address, not a title deed.
27
companies at this address
See who is registered here
1 establishment unit
InSky
since 20222.340.286.930
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25019A0198/00L002 | Wallonia | 3.0 ha | 1 · 4.0 ha | 20.3 m · 4 fl. |
| 21004A1360/00E000 | Brussels | 2,954 m² | 1 · 1,461 m² | 52.5 m · 16 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 170 EUR awarded · 170 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 170 EUR | 170 EUR |
Schemes
Vlaams opleidingsverlof (VOV)
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Of 1,374 companies in sector 61100 we hold annual accounts for 584. 199 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded24-11-2022
Fiscal year end31-12
Activities, NACEBEL 2025
61100Wired, wireless and satellite telecommunications
63100Computing infrastructure, data processing, hosting and related activities
42220Construction of utility projects for electricity and telecommunications
62900Other information technology and computer services
62200Computer consultancy and computer facilities management
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.