Equity
-€39,258
Debts exceed assets in financial year 2025.
IST TRANS
Lifetime
6 annual accounts with figures on one time axispeak €167,779 (2024)
€162,774▼ 3.0%
lowest -€28,660 (2023)
€10,779▲ €31,502
peak €5,696 (2021)
-€39,258▲ €10,779
€103,523▼ 34.0%
Board1 name since 2019
1 directorCAVDAR Mahmut
Documentsfilings and deeds
20-07-202611 days before the deadline
2025micro format
Back to profit: €10,779Equity from -€50,037 to -€39,258Debts from €156,737 to €103,523
Key points
from the 2025 annual accountsTurnover
≈ €410,000 estimated
The micro format states no turnover.
Debts
€103,523 161% of the balance sheet
Financial debts 15%Suppliers 15%Taxes and wages 8%Other 62%
Of this, €60,293 falls due within a year.
Filings
6 annual accounts 2 late
The 2024 accounts came latest: 31 days after the end of the period.
Starting capital
€2,000 100 shares
Position in the sector
-€39,258
Less equity than 95% of companies in land transport. Sector median €34,680 · 5,953 companies.
Checked score
48
Fair
Financially stronger than 32% of micro companies in land transport (NACE 49)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
4.1% Elevated
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.8% across 9,092 companies (NACE 49, micro).
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 4.3%
01-2025: 4.1%▼ -0.2 percentage points vs 12-2024
02-2025: 3.9%▼ -0.2 percentage points vs 01-2025lowest value
03-2025: 3.9%● unchanged vs 02-2025lowest value
04-2025: 4.0%▲ +0.1 percentage points vs 03-2025
05-2025: 4.2%▲ +0.2 percentage points vs 04-2025
06-2025: 4.2%● unchanged vs 05-2025
07-2025: 4.4%▲ +0.2 percentage points vs 06-2025
08-2025: 5.2%▲ +0.8 percentage points vs 07-2025
09-2025: 5.3%▲ +0.1 percentage points vs 08-2025
10-2025: 6.3%▲ +1.0 percentage point vs 09-2025highest value
11-2025: 6.3%● unchanged vs 10-2025highest value
12-2025: 6.3%● unchanged vs 11-2025highest value
01-2026: 6.3%● unchanged vs 12-2025highest value
02-2026: 5.6%▼ -0.7 percentage points vs 01-2026
03-2026: 5.5%▼ -0.1 percentage points vs 02-2026
04-2026: 5.5%● unchanged vs 03-2026
05-2026: 5.4%▼ -0.1 percentage points vs 04-2026
06-2026: 5.2%▼ -0.2 percentage points vs 05-2026
07-2026: 5.3%▲ +0.1 percentage points vs 06-2026
08-2026: 4.1%▼ -1.2 percentage points vs 07-2026
09-2026: 4.1%● unchanged vs 08-2026
10-2026: 4.1%● unchanged vs 09-2026
11-2026: 4.1%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Sector: Land transport and transport via pipelines (NACE 49)
Founded in 2019
1 of the last 3 accounts late
lowers risk
Size: total assets €64,265
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 49, micro). It does better than 5% of them on solvency, 4% on liquidity, 53% on profitability and 67% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 2,180 companies had the same profile as IST TRANS has now. Each dot stands for 6 companies, two years later.
88.7%
were still trading
5.8%
stopped another way
4.8%
went bankrupt
Another 0.7% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of IST TRANS itself: 4.1% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,180 companies, not a prediction for IST TRANS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.6 (0.3 in 2024), below 1. Short-term debt is 93.8% and cash 1.7% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 6% of 5942 sector peers (2025).
NBB · sector comparisonPosition among 5942 sector peers
Solvency
better than 6%
← weakest
strongest →
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 20-07-2026, 11 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
11 days early
2024
31 days late
2023
38 days early
2022
23 days early
2021
2 days late
2020
25 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 11 days before the deadline. In the sector (NACE 49), the median for financial year 2024 was on the deadline day, and 49% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 20 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0737516239
First establishment
Minderbroedersstraat 38, Heusden-Zolder
Incorporation
Founding capital of €2,000, 100 shares · Founder: CAVDAR Mahmut (enige vennoot oprichter) · Appointment: CAVDAR Mahmut (director) · published on 12-11-2019 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| IST TRANS Heusden-Zolder | €64,265 | €162,774 | -61.1% | - |
| SARITRA Zele | €69,514 | €160,225 | 15.2% | - |
| MKSTRANS Ganshoren | €67,855 | €134,344 | 19.5% | - |
| MONDO TRANS Nivelles | €63,519 | €162,614 | -54.5% | - |
| Altin Group Antwerp | €81,509 | €151,889 | 3.6% | - |
| YDL Transport Tessenderlo-Ham | €81,735 | €106,508 | 27.1% | - |
| ANNA GROUP Brussels | €78,410 | €202,999 | 40.2% | - |
These companies have the same main activity as IST TRANS: freight transport by road (NACE 49410). They are comparable in size and age: total assets between €63,500 and €81,700, founded between 2019 and 2021.
Official details
Source: KBO- Status
- Active since 07-11-2019Normal situation
- Activity
- Freight transport by roadNACE 49410and 1 other
- Joint committees
- 140.03Road transport and logistics for third parties
- 226White-collar workers in international trade, transport and logistics · annual accounts 2024
- Establishment unit
- 2.304.990.9073550 Heusden-Zolder, since 15-05-2020
- Financial year end
- 31 December
- Peppol
- Reachable since 07-04-2025
Annual accounts 2025
- €64,265▼ 39.8%
- Filing
- Filed on 20-07-2026, 11 days before the end of the filing period
Insights on IST TRANS
IST TRANS files the micro format. That format states no turnover. The gross margin rose from €8,487 in 2020 to €162,774 in 2025.
The balance sheet grew most from 2021 to 2023 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about IST TRANS
- What is the company number of IST TRANS?
- The company number of IST TRANS is 0737.516.239. The VAT number is the same number with BE in front: BE 0737.516.239.
- Where is IST TRANS based?
- The registered office is at Minderbroedersstraat 38, 3550 Heusden-Zolder.Company details
- What does IST TRANS do?
- According to the KBO register, the main activity is freight transport by road (NACE 49410).
- What is the legal form of IST TRANS?
- IST TRANS is a private limited company (BV).
- When was IST TRANS founded?
- IST TRANS was founded on 07-11-2019.
- Is IST TRANS still active?
- Yes, IST TRANS is an active enterprise in the KBO register.
- How many employees does IST TRANS have?
- IST TRANS had an average of 4.5 full-time equivalents in financial year 2024, according to the filed annual accounts.Financials
- Which joint committee does IST TRANS fall under?
- In its 2024 annual accounts, IST TRANS states joint committees 140.03 (Road transport and logistics for third parties) and 226 (White-collar workers in international trade, transport and logistics).
- What is the turnover of IST TRANS?
- The turnover in financial year 2025 is ≈ €410,000. This figure is estimated from the gross margin of €162,774 and 64 comparable companies (NACE 49410). It probably lies between €360,000 and €560,000.
- Is IST TRANS profitable?
- In financial year 2025, IST TRANS made a profit of €10,779.
- Where can I find the annual accounts of IST TRANS?
- IST TRANS filed 6 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of IST TRANS due?
- IST TRANS must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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