INCITATO

Active

Private limited companyfounded 200520 yrs activeBeringstraat 17, 3190 Boortmeerbeek, BelgiumKBO/BCE: BE 0876.905.041

INCITATO has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €52k and a net result of €32k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 88% of 15867 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (low).

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Checked score

Score 2024

100 / 100

Excellent▲ +39 vs 2023

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability100=

Solvency97▲+61

Growth78▲+20

Stability100

Bankruptcy probability, 12 months

0.5% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €5k at 30 days acceptable

Liquidity ample (current ratio 1.88 against 0.25 in 2023), and 13.6% 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.

−lowers risk+raises risk○neutral

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate sector

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

Gazette · bankruptcies per sector, NACE 46

Relative position

BE, all sectors

reference

Sector 46

higher

← fewer bankruptcies more bankruptcies →

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-07-2025, 7 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

7 d early

2023

36 d early

2022

31 d late

2021

17 d early

2020

27 d late

2019

60 d late

← 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

€52k▲ 168%

2023 · €19k

2018: €43k 2019: €34k 2020: €12k 2021: €-16k 2022: €-6k 2023: €19k

2018 → 2024

Total assets

€60k▼ 7.4%

2023 · €65k

2018: €74k 2019: €57k 2020: €62k 2021: €52k 2022: €45k 2023: €65k

2018 → 2024

Net result

€32k▲ 29.6%

2023 · €25k

2018: €8k 2019: €-9k 2020: €-22k 2021: €-28k 2022: €10k 2023: €25k

2018 → 2024

Working capital

€7k

2023 · €-34k

2018: €-17k 2019: €-14k 2020: €-31k 2021: €-49k 2022: €-44k 2023: €-34k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€12k-€-16k€-6k▲ 64.5%€19k€52k▲ 168%

Operating result€-21k-€-24k▼ 16.2%€12k€26k▲ 123%€36k▲ 37.8%

Net result€-22k-€-28k▼ 28.2%€10k€25k▲ 139%€32k▲ 29.6%

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

Result per fiscal year

Operating resultNet result

After the dip in 2021 the operating result has climbed three years in a row; 2024 is 38% above 2023 and is the highest year so far.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €60k

74.4%

25.6%

Fixed assets €44k▼ 16.7%

Current assets €15k▲ 36.9%

Equity and liabilities €60k

86.4%

13.6%

Equity €52k▲ 168%

Debt €8k▼ 82.1%

The debt ratio falls from 70.2% to 13.6%: equity grows while debt is paid down.

Key figures and ratios

2024 value · change against 2023

EBITDA

€53k▲

2023 · €41k

Cash flow

€50k▲

2023 · €40k

Solvency

86.4%▲

2023 · 29.8%

Current ratio

1.88▲

2023 · 0.25

Quick ratio

1.88▲

2023 · 0.25

Debt / equity

0.16▼

2023 · 2.36

ROE

62.7%▼

2023 · 129.9%

ROA

54.2%▲

2023 · 38.7%

Interest coverage

279.18▲

2023 · 78.17

Debt

€8k▼

2023 · €45k

Debt ≤ 1 year

€8k▼

2023 · €45k

Income taxes

€3k▲

2023 · €449

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€65k€60k▼

Fixed assets21/28€53k€44k▼

Intangible fixed assets21€411€194▼

Tangible fixed assets22/27€53k€44k▼

Plant, machinery and equipment23€565€0▼

Furniture and vehicles24€29k€28k▼

Other tangible fixed assets26€24k€16k▼

Financial fixed assets28€45€45=

Current assets29/58€11k€15k▲

Amounts receivable within one year40/41€480€14k▲

Trade receivables40€480€14k▲

Other amounts receivable41€0-

Cash at bank and in hand54/58€10k€1k▼

Deferred charges and accrued income490/1€458€467▲

Equity and liabilities

Total equity and liabilities10/49€65k€60k▼

Equity10/15€19k€52k▲

Contributions10/11€50k€50k=

Reserves13€4k€4k=

Non-distributable reserves130/1€4k€4k=

Reserves not available under the articles1311€4k€4k=

Distributable reserves133€0-

Profit (loss) carried forward14€-35k€-3k▲

Amounts payable17/49€45k€8k▼

Amounts payable within one year42/48€45k€8k▼

Trade debts44€412€2k▲

Suppliers440/4€412€2k▲

Taxes, remuneration and social security45€3k€3k▼

Taxes450/3€3k€3k▼

Other amounts payable47/48€42k€4k▼

Income statement Code20232024

Non-recurring operating income76A€6k€0▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€17k▲

Other operating charges640/8€710€237▼

Gross operating margin9900€41k€53k▲

Operating profit (loss)9901€26k€36k▲

Financial income75/76B€139€5▼

Recurring financial income75€139€5▼

Financial charges65/66B€521€189▼

Recurring financial charges65€521€189▼

Profit (loss) for the period before taxes9903€25k€35k▲

Income taxes67/77€449€3k▲

Profit (loss) for the period9904€25k€32k▲

Profit (loss) for the period to be appropriated9905€25k€32k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-105k€-3k▲

Profit (loss) brought forward from the previous period14P€-130k€-35k▲

Transfer from equity791/2€70k€0▼

The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 14Financial 4Filings 10

2025

24-07

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

31-12

Financial Highest result since 2018net €32k ▲29.6%

Operating result €36k, net result €32k, both a record.

31-12

Financial Liquidity times 8current ratio 1.88

Current ratio from 0.25 to 1.88; short-term debt falls from €45k to €8k.

25-06

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

31-08

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 31 days late

2022

31-12

Financial Back to profitnet €10k

Net result €10k after 3 loss-making years.

14-07

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

31-12

Financial Weakest financial yearnet €-28k

Net result drops to €-28k, the lowest in the series; recovery starts the following year.

27-08

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 27 days late

2020

29-09

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 60 days late

2019

29-07

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

21-08

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema · 21 days late

2017

25-08

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema · 25 days late

2016

30-06

NBB filing Annual accounts filed

fiscal year 2015 · abbreviated 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, Boortmeerbeek · 1 establishment unit since 2006

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.

Beringstraat 173190 Boortmeerbeek

Ground area

3,585 m²

Building footprint

208 m²

Volume, LiDAR

1,274 m³

Parcel 24014E0182/00W000, Flanders · tallest building 10.8 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

Giordano

Beringstraat 17, 3190 BoortmeerbeekNACE 51392

since 20062.150.998.952

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
24014E0182/00W000	Flanders	3,585 m²	1 · 207 m²	10.8 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.

Public money · subsidies and aid

Flemish government

2022 · 1 entry · 269 EUR awarded · 269 EUR paid

Year	Entries	awarded	paid
2022	1	269 EUR	269 EUR

Schemes

Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)

1 entry · 269 EUR · 269 EUR paid · Fonds voor Innoveren en Ondernemen

Similar companies · same sector, comparable size

SABMA

BE 0449.527.001

Welkenraedt · Eq €52k

MOTIONS

BE 0465.752.428

Dendermonde · Eq €51k

SPI Global Play Retail

BE 0474.388.396

Herstal · Eq €54k

Of 579 companies in sector 46496 we hold annual accounts for 380. 238 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded24-10-2005

Fiscal year end31-12

Activities, NACEBEL

46496Wholesale trade

51476

46389Wholesale of other food products

51384

85510Sports and recreation education

92622

92623

93199Other sports activities

Sources

Crossroads Bank for EnterprisesNational Bank · 19 filingsAddress and cadastre registers

Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.