IT PARTNER
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 24-02-2026 PDF all 25 filings
Turnover
≈ €4.2m
Estimated: probably between €2.6m and €7.1m
Total assets
€2.0m▲ 20.2%
2024 · €1.6m
Net result
€291,422▲ 59.9%
2024 · €182,254
Working capital
€147,202▼ 8.5%
2024 · €160,873
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€415,548
▲ 57.4%
2025
20182025
Net result
€291,422
▲ 59.9%
2025
highest quarter of the sector
20182025
Equity
€727,786
▲ 14.4%
2025
middle half of the sector
20182025
Total assets
€2.0m
▲ 20.2%
2025
middle half of the sector
20182025
Debt
€1.2m
▲ 24.2%
2025
20182025
Working capital
€147,202
▼ 8.5%
2025
middle half of the sector
20182025
Solvency
37.0%
▼ 1.9pp
2025
middle half of the sector
20182025
Current ratio
1.23
▼ 0.23
2025
middle half of the sector
20182025
Return on assets (ROA)
14.8%
▲ 3.7pp
2025
highest quarter of the sector
20182025
Staff (FTE)
5.2
▲ 8.3%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.2m-€0.1m▼ 10.1%€0.1m▲ 4.3%€0.2m▲ 55.4%€0.3m▲ 15.5%€0.1m▼ 48.4%€0.3m▲ 99.6%€0.4m▲ 57.4%
Net result€0.1m-€0.1m▼ 11.5%€0.1mwithin the sector's middle half▲ 5.5%€0.2mwithin the sector's middle half▲ 56.3%€0.2mwithin the sector's middle half▲ 13.9%€0.1mwithin the sector's middle half▼ 40.9%€0.2mabove the sector's middle half▲ 67.1%€0.3mabove the sector's middle half▲ 59.9%
Equity€0.6m-€0.6m▲ 3.2%€0.6mwithin the sector's middle half▲ 0.6%€0.7mwithin the sector's middle half▲ 10.3%€0.8mwithin the sector's middle half▲ 27.9%€0.8mwithin the sector's middle half▼ 10.8%€0.6mwithin the sector's middle half▼ 15.6%€0.7mwithin the sector's middle half▲ 14.4%
Total assets€1.0m-€0.9m▼ 6.0%€0.9mwithin the sector's middle half▲ 3.4%€1.0mwithin the sector's middle half▲ 10.7%€1.1mwithin the sector's middle half▲ 3.9%€1.2mwithin the sector's middle half▲ 10.0%€1.6mwithin the sector's middle half▲ 38.5%€2.0mwithin the sector's middle half▲ 20.2%
Debt€0.4m-€0.3m▼ 19.8%€0.3m▲ 8.7%€0.4m▲ 11.4%€0.2m▼ 38.4%€0.4m▲ 86.0%€1.0m▲ 130%€1.2m▲ 24.2%
Working capital€0.4m-€0.4m▲ 11.6%€0.4mwithin the sector's middle half▲ 8.7%€0.5mwithin the sector's middle half▲ 15.4%€0.7mwithin the sector's middle half▲ 39.9%€0.5mwithin the sector's middle half▼ 21.0%€0.2mwithin the sector's middle half▼ 70.4%€0.1mwithin the sector's middle half▼ 8.5%
Solvency59.9%-65.8%▲ 5.9pp64.0%above the sector's middle half▼ 1.8pp63.8%within the sector's middle half▼ 0.2pp78.5%above the sector's middle half▲ 14.7pp63.7%within the sector's middle half▼ 14.8pp38.8%within the sector's middle half▼ 24.9pp37.0%within the sector's middle half▼ 1.9pp
Current ratio2.00-2.36▲ 0.362.31within the sector's middle half▼ 0.052.32within the sector's middle half▲ 0.013.98above the sector's middle half▲ 1.662.27within the sector's middle half▼ 1.721.46within the sector's middle half▼ 0.801.23within the sector's middle half▼ 0.23
Return on assets (ROA)11.5%-10.9%▼ 0.7pp11.1%above the sector's middle half▲ 0.2pp15.6%above the sector's middle half▲ 4.6pp17.1%above the sector's middle half▲ 1.5pp9.2%within the sector's middle half▼ 7.9pp11.1%above the sector's middle half▲ 1.9pp14.8%above the sector's middle half▲ 3.7pp
Staff (FTE)4-4=4.1within the sector's middle half▲ 2.5%4.5within the sector's middle half▲ 9.8%4.5within the sector's middle half=4.5within the sector's middle half=4.8within the sector's middle half▲ 6.7%5.2within the sector's middle half▲ 8.3%
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 57% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.0m
Fixed assets
€1.2m ▲ 5.0%
Current assets
€782,824 ▲ 53.8%
Equity and liabilities €2.0m
Equity
€727,786 ▲ 14.4%
Provisions
€12,560 ▼ 3.1%
Debt
€1.2m ▲ 24.2%
Debt's share of the balance-sheet total rises from 60.4% to 62.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€488,895▲
2024 · €314,439
Cash flow
€364,768▲
2024 · €232,662
Quick ratio
1.21▼
2024 · 1.44
Debt to equity
1.69▲
2024 · 1.55
ROE
40.0%▲
2024 · 28.6%
Interest coverage
21.30▲
2024 · 13.85
Debt ≤ 1 year
€635,622▲
2024 · €348,056
Debt > 1 year
€590,546▼
2024 · €629,313
Income taxes
€101,670▲
2024 · €49,495
Staff costs
€325,598▲
2024 · €260,417
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 5 | 4 | 5 | 6 |
| full-time | 5 | 4 | 5 | 6 |
| part-time | - | 0 | 0 | 0 |
| in full-time equivalents | 5 | 4 | 5 | 6 |
| Average over the year, in full-time equivalents | 4.6 | 4 | 4.8 | 5.2 |
| On a permanent contract | 5 | 4 | 5 | 6 |
| Joined | 6 | 1 | 2 | 1 |
| Left | 5 | 2 | 1 | 0 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | - | - | - | €666,773 | - |
| Mortgages, amount registered | - | - | - | €25,000 | €25,000 |
| Mortgage mandates | - | - | - | €675,000 | €675,000 |
| Carrying value of the mortgaged assets | - | - | - | €974,099 | €870,249 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €24,763 | - | €102,737 | €1.0m | €130,196 |
| Depreciation and write-downs of the year | €37,231 | €13,969 | €18,843 | €50,408 | €73,346 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €39,008 | €53,303 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | - | - | €218,403 | €250,506 | €225,526 | €260,417 | €325,598 | ▲ 25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €46,573 | €41,678 | €40,990 | €37,231 | €13,969 | €18,843 | €50,408 | €73,346 | ▲ 45.5% |
| Other operating charges640/8 | - | - | - | €3,484 | €3,384 | €1,705 | €5,387 | €5,563 | ▲ 3.3% |
| Gross operating margin9900 | €377,246 | €366,603 | €380,608 | €481,018 | €524,179 | €378,381 | €580,243 | €820,055 | ▲ 41.3% |
| Operating profit (loss)9901 | €152,195 | €136,877 | €142,816 | €221,900 | €256,320 | €132,307 | €264,031 | €415,548 | ▲ 57.4% |
| Financial income75/76B | - | - | - | - | €164 | €9,752 | €3,385 | €98 | ▼ 97.1% |
| Recurring financial income75 | €2,112 | €237 | - | - | €164 | €9,752 | €3,385 | €98 | ▼ 97.1% |
| Financial charges65/66B | - | - | - | €2,382 | €5,288 | €122 | €22,707 | €22,955 | ▲ 1.1% |
| Recurring financial charges65 | €3,666 | €3,635 | €2,637 | €2,382 | €5,288 | €122 | €22,707 | €22,955 | ▲ 1.1% |
| Profit (loss) for the period before taxes9903 | €150,641 | €133,691 | €140,633 | €219,518 | €251,196 | €141,937 | €244,709 | €392,692 | ▲ 60.5% |
| Transfer from deferred taxes780 | - | - | - | - | - | - | €366 | €400 | ▲ 9.1% |
| Transfer to deferred taxes680 | - | - | - | - | - | - | €13,326 | €0 | ▼ 100% |
| Income taxes67/77 | €39,645 | €35,490 | €37,053 | €57,633 | €66,789 | €32,891 | €49,495 | €101,670 | ▲ 105% |
| Profit (loss) for the period9904 | €110,996 | €98,202 | €103,580 | €161,885 | €184,407 | €109,045 | €182,254 | €291,422 | ▲ 59.9% |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | - | €1,099 | €1,199 | ▲ 9.1% |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | - | €39,977 | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €110,996 | €98,202 | €103,580 | €161,885 | €184,407 | €109,045 | €143,376 | €292,621 | ▲ 104% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.0m | €0.9m | €0.9m | €1.0m | €1.1m | €1.2m | €1.6m | €2.0m | ▲ 20.2% |
| Fixed assets21/28 | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €1.1m | €1.2m | ▲ 5.0% |
| Tangible fixed assets22/27 | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €1.1m | €1.2m | ▲ 5.0% |
| Land and buildings22 | - | - | - | €0.1m | €0.1m | €0.1m | €1.0m | €1.0m | ▲ 5.3% |
| Plant, machinery and equipment23 | - | - | - | €0.005m | €0.003m | €0.01m | €0.04m | €0.03m | ▼ 5.6% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.02m | €0.07m | €0.06m | €0.1m | ▲ 113% |
| Assets under construction and advance payments27 | - | - | - | - | - | - | €0.06m | €0 | ▼ 100% |
| Current assets29/58 | €0.7m | €0.7m | €0.8m | €0.9m | €0.9m | €1.0m | €0.5m | €0.8m | ▲ 53.8% |
| Stocks and contracts in progress3 | - | - | - | - | €0.003m | €0.009m | €0.006m | €0.01m | ▲ 123% |
| Stocks30/36 | - | - | - | - | €0.003m | €0.009m | €0.006m | €0.01m | ▲ 123% |
| Amounts receivable within one year40/41 | €0.3m | €15 | €0.3m | €0.2m | €0.2m | €0.5m | €0.3m | €0.5m | ▲ 58.4% |
| Trade receivables40 | - | - | - | €0.2m | €0.2m | €0.4m | €0.3m | €0.5m | ▲ 70.9% |
| Other amounts receivable41 | - | - | - | €15 | €471 | €0.2m | €0.02m | €0 | ▼ 100% |
| Current investments50/53 | €0.009m | €0.005m | €0.005m | €0.005m | €0 | €0.3m | €0 | €0.06m | - |
| Cash at bank and in hand54/58 | €0.4m | €0.5m | €0.5m | €0.6m | €0.7m | €0.1m | €0.2m | €0.2m | ▲ 12.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.004m | €0.003m | €195 | €360 | €259 | ▼ 27.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.0m | €0.9m | €0.9m | €1.0m | €1.1m | €1.2m | €1.6m | €2.0m | ▲ 20.2% |
| Equity10/15 | €0.6m | €0.6m | €0.6m | €0.7m | €0.8m | €0.8m | €0.6m | €0.7m | ▲ 14.4% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Contributions outside capital11 | - | - | - | €0.02m | - | - | - | - | - |
| Other1109/19 | - | - | - | €0.02m | - | - | - | - | - |
| Reserves13 | €0.6m | €0.6m | €0.6m | €0.6m | €0.8m | €0.7m | €0.6m | €0.7m | ▲ 14.9% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.03m | €0.03m | €0.03m | €0.07m | €0.07m | ▼ 1.8% |
| Distributable reserves133 | - | - | - | €0.6m | €0.8m | €0.7m | €0.5m | €0.6m | ▲ 16.9% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | - | - | - | - | - | - | €0.01m | €0.01m | ▼ 3.1% |
| Deferred taxes168 | - | - | - | - | - | - | €0.01m | €0.01m | ▼ 3.1% |
| Amounts payable17/49 | €0.4m | €0.3m | €0.3m | €0.4m | €0.2m | €0.4m | €1.0m | €1.2m | ▲ 24.2% |
| Amounts payable after more than one year17 | €0.03m | €0.02m | €0.008m | - | - | - | €0.6m | €0.6m | ▼ 6.2% |
| Financial debts170/4 | - | - | - | - | - | - | €0.6m | €0.6m | ▼ 6.2% |
| Amounts payable within one year42/48 | €0.4m | €0.3m | €0.3m | €0.4m | €0.2m | €0.4m | €0.3m | €0.6m | ▲ 82.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.008m | - | - | €0.04m | €0.04m | ▲ 3.5% |
| Financial debts43 | - | - | - | - | €0 | - | - | - | - |
| Other loans439 | - | - | - | - | €0 | - | - | - | - |
| Trade debts44 | €0.1m | €0.09m | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | €0.3m | ▲ 102% |
| Suppliers440/4 | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | €0.3m | ▲ 102% |
| Taxes, remuneration and social security45 | - | - | - | €0.09m | €0.1m | €0.07m | €0.06m | €0.08m | ▲ 49.7% |
| Taxes450/3 | - | - | - | €0.04m | €0.08m | €0.02m | €0.006m | €0.02m | ▲ 236% |
| Remuneration and social security454/9 | - | - | - | €0.05m | €0.05m | €0.04m | €0.05m | €0.06m | ▲ 26.2% |
| Other amounts payable47/48 | - | - | - | €0.2m | €0 | €0.2m | €0.1m | €0.2m | ▲ 100% |
| Accrued charges and deferred income492/3 | - | - | - | €0.002m | €0 | - | €0.01m | €0.003m | ▼ 74.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €110,996 | €98,202 | €103,580 | €161,885 | €184,407 | €109,045 | €182,254 | €291,422 | ▲ 59.9% |
| + Depreciation and write-downs630 | €46,573 | €41,678 | €40,990 | €37,231 | €13,969 | €18,843 | €50,408 | €73,346 | ▲ 45.5% |
| Operating cash flow (approximation) | €157,569 | €139,880 | €144,570 | €199,116 | €198,376 | €127,888 | €232,662 | €364,768 | ▲ 56.8% |
| Investment in fixed assets (approximation) | - | -€6,600 | €0 | -€24,763 | €0 | -€72,669 | -€970,278 | -€130,196 | ▲ 86.6% |
| Change in cash | - | €31,334 | €692 | €167,872 | €25,351 | -€532,219 | €56,156 | €23,688 | ▼ 57.8% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 31,368 companies had the same profile as IT PARTNER has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of IT PARTNER itself: 0.5% within 12 months.
Test of the method
The method was tested on the 497,446 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 31,368 companies, not a prediction for IT PARTNER. 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.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 24-02-2026 | 2026-00043699 | |
| 31-12-2024 | abbreviated format | 27-06-2025 | 2025-00190643 | |
| 31-12-2023 | abbreviated format | 24-04-2024 | 2024-00077547 | |
| 31-12-2022 | abbreviated format | 27-06-2023 | 2023-00169143 | |
| 31-12-2021 | abbreviated format | 18-07-2022 | 2022-20200436 | |
| 31-12-2020 | abbreviated format | 30-07-2021 | 2021-45000541 | |
| 31-12-2019 | abbreviated format | 07-09-2020 | 2020-51800334 | |
| 31-12-2018 | abbreviated format | 27-06-2019 | 2019-24300336 | |
| 31-12-2017 | abbreviated format | 26-06-2018 | 2018-24000478 | |
| 31-12-2016 | abbreviated format | 19-06-2017 | 2017-18300404 |