GI-TEC

Active

Private limited companyfounded 20188 yrs activeSteenovenstraat 5, 8870 Izegem, BelgiumKBO/BCE: BE 0687.955.276

GI-TEC has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €118k and a net result of €66k. Equity is growing by ~12.2% per year across the filed fiscal years. Its solvency ranks better than 51% of 1633 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.0% (low).

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Checked score

Score 2024

80 / 100

Excellent

The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability100▲+13

Solvency73▲+24

Growth78▲+26

Track record100

Bankruptcy probability, 12 months

1.0% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €9k at 30 days acceptable

Liquidity ample (current ratio 1.53 against 0.75 in 2023; short-term debt: 31.2% and cash: 27.5% of total assets), but 52.2% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Four signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 33

Relative position

BE, all sectors

reference

Sector 33

higher

← fewer bankruptcies more bankruptcies →

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-07-2025, 8 days ahead of the deadline.

NBB · 7 filings

Deviation from the deadline

2025

not confirmed

2024

8 d early

2023

16 d early

2022

29 d late

2021

20 d early

2020

17 d early

2019

14 d early

← before the deadline after the deadline →

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

Financials · fiscal year 2024, micro schema

Equity

€118k▲ 128%

2023 · €52k

2018: €46k 2019: €59k 2020: €96k 2021: €112k 2022: €102k 2023: €52k

2018 → 2024

Total assets

€247k▲ 14.5%

2023 · €215k

2018: €56k 2019: €186k 2020: €267k 2021: €268k 2022: €317k 2023: €215k

2018 → 2024

Net result

€66k▲ 112%

2023 · €31k

2018: €41k 2019: €13k 2020: €36k 2021: €16k 2022: €-10k 2023: €31k

2018 → 2024

Working capital

€41k

2023 · €-23k

2018: €46k 2019: €13k 2020: €42k 2021: €50k 2022: €92k 2023: €-23k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€96k-€112k▲ 17.0%€102k▼ 9.3%€52k▼ 49.1%€118k▲ 128%

Operating result€45k-€25k▼ 45.1%€-8k€40k€88k▲ 123%

Net result€36k-€16k▼ 55.2%€-10k€31k€66k▲ 112%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

After the dip in 2022 the operating result has climbed two years in a row; 2024 is 123% above 2023 and is the highest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €247k

52.3%

47.7%

Fixed assets €129k▼ 11.8%

Current assets €118k▲ 70.2%

Equity and liabilities €247k

47.8%

52.2%

Equity €118k▲ 128%

Debt €129k▼ 21.3%

The debt ratio falls from 76.0% to 52.2%. Equity is higher and debt is lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€106k▲

2023 · €58k

Cash flow

€83k▲

2023 · €50k

Solvency

47.8%▲

2023 · 24.0%

Current ratio

1.53▲

2023 · 0.75

Quick ratio

1.53▲

2023 · 0.75

Debt / equity

1.09▼

2023 · 3.17

ROE

56.2%▼

2023 · 60.4%

ROA

26.8%▲

2023 · 14.5%

Interest coverage

20.06▲

2023 · 19.17

Debt

€129k▼

2023 · €164k

Debt ≤ 1 year

€77k▼

2023 · €92k

Debt > 1 year

€48k▼

2023 · €71k

Income taxes

€17k▲

2023 · €5k

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

Assets

Total assets20/58€215k€247k▲

Fixed assets21/28€146k€129k▼

Tangible fixed assets22/27€146k€129k▼

Land and buildings22€124k€118k▼

Plant, machinery and equipment23€529€0▼

Furniture and vehicles24€22k€11k▼

Current assets29/58€69k€118k▲

Amounts receivable within one year40/41€44k€48k▲

Trade receivables40€34k€48k▲

Other amounts receivable41€10k€0▼

Cash at bank and in hand54/58€21k€68k▲

Deferred charges and accrued income490/1€5k€2k▼

Equity and liabilities

Total equity and liabilities10/49€215k€247k▲

Equity10/15€52k€118k▲

Contributions10/11€19k€19k=

Reserves13€33k€99k▲

Non-distributable reserves130/1€2k€0▼

Reserves not available under the articles1311€2k€0▼

Distributable reserves133€31k€99k▲

Profit (loss) carried forward14€0€0=

Amounts payable17/49€164k€129k▼

Amounts payable after more than one year17€71k€48k▼

Financial debts170/4€71k€48k▼

Amounts payable within one year42/48€92k€77k▼

Current portion of amounts payable after more than one year42€23k€22k▼

Trade debts44€4k€4k▲

Suppliers440/4€4k€4k▲

Taxes, remuneration and social security45€8k€17k▲

Taxes450/3€6k€15k▲

Remuneration and social security454/9€2k€2k▲

Other amounts payable47/48€56k€33k▼

Accrued charges and deferred income492/3€1k€4k▲

Income statement Code20232024

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€19k€17k▼

Other operating charges640/8€1k€1k▼

Gross operating margin9900€60k€107k▲

Operating profit (loss)9901€40k€88k▲

Financial income75/76B€1€0▼

Recurring financial income75€1€0▼

Financial charges65/66B€3k€5k▲

Recurring financial charges65€3k€5k▲

Profit (loss) for the period before taxes9903€37k€83k▲

Income taxes67/77€5k€17k▲

Profit (loss) for the period9904€31k€66k▲

Profit (loss) for the period to be appropriated9905€31k€66k▲

Appropriation of the result

Profit (loss) to be appropriated9906€125k€66k▼

Profit (loss) brought forward from the previous period14P€93k€0▼

Transfer to equity691/2€31k€66k▲

To other reserves6921€31k€66k▲

Profit to be distributed694/7€93k€0▼

Return on contributions (dividend)694€93k€0▼

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 13Financial 6Filings 7

2025

23-07

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

31-12

Financial Highest result since 2018net €66k ▲112%

Operating result €88k, net result €66k, both a record.

31-12

Financial Liquidity doublescurrent ratio 1.53

Current ratio from 0.75 to 1.53; short-term debt falls from €92k to €77k.

31-12

Financial Equity above €100kEq €118k ▲128%

2 profitable years in a row build equity to €118k.

15-07

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

31-12

Financial Back to profitnet €31k

Net result €31k after one loss-making year.

29-08

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 29 days late

2022

31-12

Financial Weakest financial yearnet €-10k ▼164%

Net result drops to €-10k, the lowest in the series; recovery starts the following year.

11-07

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

31-12

Financial Equity above €100kEq €112k ▲17%

4 profitable years in a row build equity to €112k.

14-07

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

17-07

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

19-07

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

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, Izegem · 1 establishment unit since 2018

establishment The establishment unit on the map

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.

Steenovenstraat 58870 Izegem

Ground area

219 m²

Building footprint

92 m²

Volume, LiDAR

440 m³

Parcel 36494D1019/00P004, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

GI-TEC

Steenovenstraat 5, 8870 IzegemManufacture of metal structures and parts of structures

since 20182.274.539.043

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
36494D1019/00P004	Flanders	219 m²	1 · 92 m²	8.0 m · 2 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Similar companies · same sector, comparable size

M.M. SERVICES & MANAGEMENT TOURNAI

Sint-Gillis-Waas · Eq €118k

Of 3,713 companies in sector 33120 we hold annual accounts for 1,342. 1,137 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded15-01-2018

Fiscal year end31-12

Activities, NACEBEL

33120Repair and maintenance of machinery

33200Installation of industrial machinery and equipment

Sources

Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers

Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.