ISARC
ActiveSummary
ISARC has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €240,404 and a net result of €24,989. Equity is growing by ~7.9% per year across the filed fiscal years. Its solvency ranks better than 57% of 20786 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability46▼-41
Solvency93▼-6
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €18,000 at 30 days acceptable
Liquidity ample (current ratio 3.06 against 4.22 in 2023; short-term debt: 30.1% and cash: 35.1% of total assets), and 31.7% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← 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 · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 23-06-2026, 38 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
38 d early
2024
18 d late
2023
21 d late
2022
15 d late
2021
29 d late
2020
85 d late
2019
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 23 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% 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 18 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, micro schema
In the rankings
#7 company by total assets in Ganshoren, Telecoms and IT sector#7 company by equity in Ganshoren, Telecoms and IT sector
Equity
€240,404▲ 5.7%
2023 · €227,415
Total assets
€351,889▲ 14.1%
2023 · €308,357
Net result
€24,989▼ 45.5%
2023 · €45,892
Working capital
€218,688▲ 5.3%
2023 · €207,721
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€22,066▲ 7.5%€58,730▲ 166%€51,798▼ 11.8%€68,035▲ 31.3%€85,068▲ 25.0%
Net result€15,397within the sector's middle half▼ 16.4%€33,091within the sector's middle half▲ 115%€36,751within the sector's middle half▲ 11.1%€45,892within the sector's middle half▲ 24.9%€24,989within the sector's middle half▼ 45.5%
Equity€157,381above the sector's middle half▼ 10.0%€177,772above the sector's middle half▲ 13.0%€214,523above the sector's middle half▲ 20.7%€227,415above the sector's middle half▲ 6.0%€240,404above the sector's middle half▲ 5.7%
Total assets€188,295within the sector's middle half▼ 5.3%€229,093within the sector's middle half▲ 21.7%€261,398within the sector's middle half▲ 14.1%€308,357above the sector's middle half▲ 18.0%€351,889above the sector's middle half▲ 14.1%
Debt€30,914▲ 28.8%€51,321▲ 66.0%€46,875▼ 8.7%€80,942▲ 72.7%€111,485▲ 37.7%
Working capital€143,086above the sector's middle half▼ 9.1%€175,521above the sector's middle half▲ 22.7%€219,640above the sector's middle half▲ 25.1%€207,721above the sector's middle half▼ 5.4%€218,688above the sector's middle half▲ 5.3%
Solvency83.6%above the sector's middle half▼ 4.3pp77.6%within the sector's middle half▼ 6.0pp82.1%above the sector's middle half▲ 4.5pp73.8%within the sector's middle half▼ 8.3pp68.3%within the sector's middle half▼ 5.4pp
Current ratio5.79above the sector's middle half▼ 1.764.52within the sector's middle half▼ 1.276.75above the sector's middle half▲ 2.224.22within the sector's middle half▼ 2.533.06within the sector's middle half▼ 1.15
Return on assets (ROA)8.2%within the sector's middle half▼ 1.1pp14.4%within the sector's middle half▲ 6.3pp14.1%within the sector's middle half▼ 0.4pp14.9%within the sector's middle half▲ 0.8pp7.1%within the sector's middle half▼ 7.8pp
above
within
below
the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, each year against the same schema; no band under 30 filings.
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 25% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €351,889
Fixed assets
€27,281 ▼ 24.3%
Current assets
€324,608 ▲ 19.2%
Equity and liabilities €351,889
Equity
€240,404 ▲ 5.7%
Debt
€111,485 ▲ 37.7%
Debt's share of the balance-sheet total rises from 26.2% to 31.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€93,836▲
2023 · €74,576
Cash flow
€33,758▼
2023 · €52,433
Debt to equity
0.46▲
2023 · 0.36
ROE
10.4%▼
2023 · 20.2%
Interest coverage
2.26▼
2023 · 65.95
Debt ≤ 1 year
€105,920▲
2023 · €64,586
Debt > 1 year
€5,525▼
2023 · €16,213
Income taxes
€20,155▼
2023 · €22,627
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,696 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.7%
went bankrupt
3.9%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 34,696 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,024 | €2,285 | €2,677 | €6,541 | €8,769 | ▲ 34.0% |
| Other operating charges640/8 | - | €40,575 | €36,310 | €35,203 | €98 | ▼ 99.7% |
| Gross operating margin9900 | €59,224 | €101,590 | €90,785 | €109,779 | €93,934 | ▼ 14.4% |
| Operating profit (loss)9901 | €22,066 | €58,730 | €51,798 | €68,035 | €85,068 | ▲ 25.0% |
| Financial income75/76B | - | €7 | - | €1,615 | €1,677 | ▲ 3.9% |
| Recurring financial income75 | €55 | €7 | - | €1,615 | €1,677 | ▲ 3.9% |
| Financial charges65/66B | - | €9,451 | €254 | €1,131 | €41,601 | ▲ 3,579% |
| Recurring financial charges65 | €107 | €151 | €254 | €1,131 | €41,601 | ▲ 3,579% |
| Non-recurring financial charges66B | - | €9,300 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €22,013 | €49,285 | €51,544 | €68,519 | €45,144 | ▼ 34.1% |
| Income taxes67/77 | €6,616 | €16,194 | €14,793 | €22,627 | €20,155 | ▼ 10.9% |
| Profit (loss) for the period9904 | €15,397 | €33,091 | €36,751 | €45,892 | €24,989 | ▼ 45.5% |
| Profit (loss) for the period to be appropriated9905 | €15,397 | €33,091 | €36,751 | €45,892 | €24,989 | ▼ 45.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €188,295 | €229,093 | €261,398 | €308,357 | €351,889 | ▲ 14.1% |
| Fixed assets21/28 | €15,360 | €3,774 | €3,554 | €36,050 | €27,281 | ▼ 24.3% |
| Tangible fixed assets22/27 | €6,060 | €3,774 | €3,554 | €36,050 | €27,281 | ▼ 24.3% |
| Furniture and vehicles24 | - | €3,134 | €3,554 | €36,050 | €27,281 | ▼ 24.3% |
| Other tangible fixed assets26 | - | €641 | - | - | - | - |
| Financial fixed assets28 | €9,300 | - | - | - | - | - |
| Current assets29/58 | €172,936 | €225,319 | €257,844 | €272,307 | €324,608 | ▲ 19.2% |
| Amounts receivable within one year40/41 | €14,823 | €21,512 | €17,401 | €18,780 | €17,019 | ▼ 9.4% |
| Trade receivables40 | - | €21,512 | €17,401 | €18,779 | €17,019 | ▼ 9.4% |
| Other amounts receivable41 | - | - | - | €1 | - | - |
| Current investments50/53 | - | - | €124,480 | €137,342 | €153,244 | ▲ 11.6% |
| Cash at bank and in hand54/58 | €143,157 | €189,844 | €91,543 | €94,305 | €123,595 | ▲ 31.1% |
| Deferred charges and accrued income490/1 | - | €13,963 | €24,421 | €21,881 | €30,750 | ▲ 40.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €188,295 | €229,093 | €261,398 | €308,357 | €351,889 | ▲ 14.1% |
| Equity10/15 | €157,381 | €177,772 | €214,523 | €227,415 | €240,404 | ▲ 5.7% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €8,055 | ▲ 29.9% |
| Reserves13 | €133,930 | €154,320 | €191,050 | €203,050 | €213,883 | ▲ 5.3% |
| Non-distributable reserves130/1 | - | €1,855 | €1,855 | €1,855 | - | - |
| Reserves not available under the articles1311 | - | €1,855 | €1,855 | €1,855 | - | - |
| Tax-exempt reserves132 | - | €59,045 | €59,045 | €59,045 | €59,045 | = |
| Distributable reserves133 | - | €93,420 | €130,150 | €142,150 | €154,838 | ▲ 8.9% |
| Profit (loss) carried forward14 | €17,251 | €17,252 | €17,273 | €18,165 | €18,466 | ▲ 1.7% |
| Amounts payable17/49 | €30,914 | €51,321 | €46,875 | €80,942 | €111,485 | ▲ 37.7% |
| Amounts payable after more than one year17 | - | - | - | €16,213 | €5,525 | ▼ 65.9% |
| Financial debts170/4 | - | - | - | €16,213 | €5,525 | ▼ 65.9% |
| Amounts payable within one year42/48 | €29,850 | €49,798 | €38,204 | €64,586 | €105,920 | ▲ 64.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €10,222 | €10,688 | ▲ 4.6% |
| Trade debts44 | €3,466 | €903 | €17,436 | €2,837 | €40,477 | ▲ 1,327% |
| Suppliers440/4 | - | €903 | €17,436 | €2,837 | €40,477 | ▲ 1,327% |
| Taxes, remuneration and social security45 | - | €34,213 | €19,933 | €22,086 | €13,427 | ▼ 39.2% |
| Taxes450/3 | - | €34,213 | €19,933 | €22,086 | €13,427 | ▼ 39.2% |
| Other amounts payable47/48 | - | €14,682 | €835 | €29,442 | €41,328 | ▲ 40.4% |
| Accrued charges and deferred income492/3 | - | €1,523 | €8,671 | €142 | €40 | ▼ 71.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,397 | €33,091 | €36,751 | €45,892 | €24,989 | ▼ 45.5% |
| + Depreciation and write-downs630 | €3,024 | €2,285 | €2,677 | €6,541 | €8,769 | ▲ 34.0% |
| Operating cash flow (approximation) | €18,421 | €35,376 | €39,428 | €52,433 | €33,758 | ▼ 35.6% |
| Investment in fixed assets (approximation) | - | €9,300 | -€2,456 | -€39,037 | €0 | ▲ 100% |
| Change in cash | - | €46,687 | -€98,301 | €2,762 | €29,290 | ▲ 960% |
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
23-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
18-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 18 days late
2024
21-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 21 days late
2023
31-12
Financial
Highest result since 2018net €45,892 ▲24.9%
Net result €45,892, the highest in the series.
15-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 15 days late
2022
31-12
Financial
Equity above €200,000Eq €214,523 ▲20.7%
5 profitable years in a row build equity to €214,523.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
24-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 85 days late
2020
31-12
Financial
Weakest financial yearnet €15,397 ▼16.4%
Net result drops to €15,397, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 22 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Ganshoren · 1 establishment unit since 2011
Ground area
139 m²
Building footprint
72 m²
Volume, LiDAR
774 m³
Parcel 21008A0124/00X007, Brussels · tallest building 12.9 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Van Overbekelaan 99, 1083 Ganshoren
since 20112.197.232.815
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21008A0124/00X007 | Brussels | 139 m² | 1 · 72 m² | 12.9 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 1
-
20%
According to the 2024 annual accounts of ISARC and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
254900Y54X2NQ1QF6Y65
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Of 3,214 companies in sector 62900 we hold annual accounts for 1,746. 1,292 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded07-03-2011
Fiscal year end31-12
Activities, NACEBEL 2025
62900Other information technology and computer services
33130Repair, maintenance and installation of machinery and equipment
33140Repair and maintenance of electrical equipment
E-invoicing
Reachable via Peppol
Peppol ID
0208:0834316893
Also
9925:BE0834316893
Registered
18-01-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.