ITCSD
ActiveSummary
ITCSD has been active since 2012 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €19,940 and a net result of €8,121. Equity has been growing by about 6.2% per year since 2018. Its solvency ranks better than 53% of 482 sector peers (NACE 95, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 20-04-2012 Normal situation
- Activity
- Repair and maintenance of computers and communication equipment NACE 95100and 3 others
- Establishment unit
- 2.208.886.374 1325 Chaumont-Gistoux, since 30-04-2012
- Financial year end
- 31 December
- Peppol
- Reachable since 06-01-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.2%
- Gross margin
- €9,688
- ▲ 683%
- Turnover
- ≈ €72,000
- estimated
- Profit
- €8,121
- ▲ 11×
- Equity
- €19,940
- ▲ 68.7%
- Total assets
- €44,807
- ▼ 19.6%
- 2025 accounts filed 31 days after the deadline
Score breakdownraises riskLast filed accounts filed 31 days late; 1 of the last 3 accounts lateFigures for financial year 2025 (filed on 03-09-2026)lowers riskLiquidity: current ratio 1.80, cash €28,375Founded in 2012Show the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 95, micro). It does better than 55% of them on solvency, 73% on liquidity, 69% on profitability and 88% on growth.
The bankruptcy probability was computed on 02-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 28 days after the deadline. In the sector (NACE 95), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, full format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00496341.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 14 filings
Every figure per financial year
The operating result for 2025 is nearly 12 times that of 2024 and the highest since 2021. It is a recovery after the fall in 2024.
The turnover shown is an estimate from the gross margin.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €579 | - | - | - | - |
| Depreciation and write-downs of the year | €764 | €320 | €208 | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €15,720 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €801 | €1,219 | €711 | €764 | €320 | €208 | - | - | - |
| Other operating charges640/8 | - | - | - | - | - | - | €460 | €494 | ▲ 7.3% |
| Gross operating margin9900 | €8,813 | €9,639 | €18,096 | €17,088 | €732 | €1,600 | €1,238 | €9,688 | ▲ 683% |
| Operating profit (loss)9901 | €314 | €619 | €648 | €604 | €412 | €1,391 | €778 | €9,194 | ▲ 12× |
| Financial income75/76B | - | - | - | - | - | €0 | - | - | - |
| Recurring financial income75 | - | - | - | - | - | €0 | - | - | - |
| Financial charges65/66B | - | - | - | €59 | €49 | €45 | €47 | €99 | ▲ 112% |
| Recurring financial charges65 | €54 | €54 | €56 | €59 | €49 | €45 | €47 | €99 | ▲ 112% |
| Profit (loss) for the period before taxes9903 | €336 | €565 | €592 | €544 | €363 | €1,346 | €731 | €9,094 | ▲ 12× |
| Income taxes67/77 | - | - | €97 | €177 | €157 | €145 | - | €974 | - |
| Profit (loss) for the period9904 | €336 | €565 | €495 | €367 | €206 | €1,201 | €731 | €8,121 | ▲ 11× |
| Profit (loss) for the period to be appropriated9905 | €336 | €565 | €495 | €367 | €206 | €1,201 | €731 | €8,121 | ▲ 11× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €10,798 | €11,789 | €13,806 | €14,504 | €13,611 | €40,937 | €55,725 | €44,807 | ▼ 19.6% |
| Fixed assets21/28 | €1,045 | €1,425 | €714 | €528 | €208 | - | - | - | - |
| Tangible fixed assets22/27 | €1,045 | €1,425 | €714 | €528 | €208 | €0 | €0 | - | - |
| Furniture and vehicles24 | - | - | - | €528 | €208 | - | - | - | - |
| Current assets29/58 | €9,753 | €10,364 | €13,092 | €13,976 | €13,402 | €40,937 | €55,725 | €44,807 | ▼ 19.6% |
| Stocks and contracts in progress3 | €452 | €452 | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €4,671 | €7,454 | - | €605 | €121 | €12,965 | €16,372 | €16,432 | ▲ 0.4% |
| Trade receivables40 | - | - | - | €605 | €121 | €12,965 | €16,372 | €16,432 | ▲ 0.4% |
| Cash at bank and in hand54/58 | €4,631 | €2,459 | €13,092 | €13,371 | €13,281 | €27,971 | €39,354 | €28,375 | ▼ 27.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €10,798 | €11,789 | €13,806 | €14,504 | €13,611 | €40,937 | €55,725 | €44,807 | ▼ 19.6% |
| Equity10/15 | €8,255 | €8,820 | €9,315 | €9,682 | €9,887 | €11,089 | €11,819 | €19,940 | ▲ 68.7% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | - | - | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Issued capital100 | - | - | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Uncalled capital101 | - | - | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €620 | €620 | €620 | €620 | €620 | €620 | €620 | €620 | = |
| Non-distributable reserves130/1 | - | - | - | €620 | €620 | €620 | €620 | €620 | = |
| Legal reserve130 | - | - | - | €620 | €620 | €620 | €620 | €620 | = |
| Profit (loss) carried forward14 | €1,435 | €2,000 | €2,495 | €2,862 | €3,067 | €4,269 | €4,999 | €13,120 | ▲ 162% |
| Amounts payable17/49 | €2,542 | €2,969 | €4,491 | €4,822 | €3,723 | €29,848 | €43,906 | €24,867 | ▼ 43.4% |
| Amounts payable within one year42/48 | €2,542 | €2,969 | €4,491 | €3,447 | €3,723 | €29,848 | €43,906 | €24,867 | ▼ 43.4% |
| Trade debts44 | €579 | €172 | €430 | €20 | €71 | €119 | €548 | €4,129 | ▲ 653% |
| Suppliers440/4 | - | - | - | €20 | €71 | €119 | €548 | €4,129 | ▲ 653% |
| Taxes, remuneration and social security45 | - | - | - | €3,427 | €3,653 | €7,729 | €16,663 | €5,305 | ▼ 68.2% |
| Taxes450/3 | - | - | - | €3,427 | €3,653 | €7,729 | €16,663 | €5,305 | ▼ 68.2% |
| Other amounts payable47/48 | - | - | - | - | - | €22,000 | €26,695 | €15,433 | ▼ 42.2% |
| Accrued charges and deferred income492/3 | - | - | - | €1,375 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €336 | €565 | €495 | €367 | €206 | €1,201 | €731 | €8,121 | ▲ 11× |
| + Depreciation and write-downs630 | €801 | €1,219 | €711 | €764 | €320 | €208 | - | - | - |
| Operating cash flow (approximation) | €1,137 | €1,784 | €1,206 | €1,131 | €526 | €1,409 | €731 | €8,121 | ▲ 11× |
| Investment in fixed assets (approximation) | - | -€1,599 | €0 | -€578 | €0 | - | - | - | - |
| Change in cash | - | -€2,172 | €10,633 | €279 | -€89 | €14,690 | €11,382 | -€10,979 | - |
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, 34,693 companies had the same profile as ITCSD has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of ITCSD itself: 0.2% 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 34,693 companies, not a prediction for ITCSD. 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 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 31-08-2026 | 2026-00496341 | |
| 31-12-2024 | full format | 26-08-2025 | 2025-00443461 | |
| 31-12-2023 | full format | 29-08-2024 | 2024-00443866 | |
| 31-12-2022 | full format | 26-08-2023 | 2023-00382561 | |
| 31-12-2021 | full format | 28-08-2022 | 2022-20417219 | |
| 31-12-2020 | full format | 28-08-2021 | 2021-57100088 | |
| 31-12-2019 | full format | 30-08-2020 | 2020-48100074 | |
| 31-12-2018 | micro format | 21-09-2019 | 2019-66200554 | |
| 31-12-2017 | full format | 20-08-2018 | 2018-47500489 | |
| 31-12-2016 | full format | 25-09-2017 | 2017-64400459 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 09-01-2024 Converted to unavailable equity · €6,820
- 09-01-2024 Capital conversion · €6,820
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| BREMER Cédric |
|
| BREMER Jean-Louis |
|
Articles of association
Board and representation
- Daily managementDay-to-day management handles the everyday running of the business without the full board.
- The board decides whether the delegates act alone or jointly
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Organe d’administration, l’assemblée générale peut mettre fin au mandat pour juste motifs, sans préavis ni indemnit锓Rémunération des administrateurs, l'assemblée générale décide si le mandat d'administrateur est ou non exercé gratuitement”
Capital, shares and profit
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Tous les frais de procédure et d’expertise pour moitié à charge du cédant et pour moitié à charge du ou des acquéreurs, proportionnellement…”
Audit, dissolution and liquidation
- Auditor ruleThe articles set how a statutory auditor is appointed and what they check.
- “Nommés pour trois ans, un ou plusieurs commissaires”
Articles of association, deed of 09-01-2024 (in French)
Network & group
ITCSD shares no director with another company.
Connections & network
2 current directorsThe network starts from the directors of ITCSD. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
09-01
Gazette deed
Reappointment: BREMER Cédric (statutory director)Change of role: BREMER Jean-Louis, from manager to director · Appointment: BREMER Cédric (statutory director) · Registered-office move17 points ▸
- General meeting, 22-12-2023
- Registered-office move, (1360) Perwez, 79, chaussée de Wavre
- Amendment of the articles, 2
- Legal-form conversion, “Société à responsabilité limitée (en abrégé SRL)” (deed in French)
- Capital, €6,200
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Director reappointment, BREMER Cédric (statutory director)
- Declaration, “absence de procédure de faillite avec interdiction de gérer, ne pas avoir fait l’objet d’une procédure de faillite dans le cadre de laquelle une interdiction de…” (deed in French)
- Reserve release, “compte de capitaux propres dénommé « apport disponible hors capital »” (deed in French)
- Amendment of the articles
- Capital conversion, 6820.0, “Lors de l’adaptation des statuts au Code des Sociétés et des Associations le compte de capitaux propres disponibles s’élevait à la somme de six mille hu…” (deed in French)
- Director appointment, BREMER Cédric (statutory director)
- The act holds 5 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
1 former office
- 1325 Dion-Valmont) until the act of 09-01-2024
Activities
NACEBEL 2025Codes under NACEBEL 2008
27 activities
- La prestation globale de tous services informatiques et télématiques aux utilisateurs potentiels de ces technologies de l’information et de la télécommunication ainsi que l’achat et la vente de matériels informatiques et télématiques au sens large
- La consultance
- Le conseil
- L’aide à la décision
- La gestion de projet
- Les achats
- Le stockage
- Les tests
- La préparation
- La configuration
- Le transport
- La livraison
- L’installation
- Le câblage
- L’intégration
- Le support
- La formation
- La maintenance
- Commercialiser toutes les marques de matériels, composants et périphériques informatiques ou télématiques, tous les consommables et tous les logiciels quelconques disponibles sur le marché
- Développer, vendre, supporter et maintenir ses propres logiciels d’application incluant toutes les prestations comptables, sociales et fiscales y attachées
- Être administrateur, gérant ou liquidateur de toutes autres entreprises ayant un objet similaire, connexe ou annexe de nature à faciliter la réalisation de son objet
- Accomplir tant en Belgique qu’à l’étranger, tous actes, toutes opérations financières, industrielles, commerciales, mobilières ou immobilières se rattachant directement ou indirectement à son objet et permettant d’en faciliter la réalisation
- Se porter caution et donner toute sûreté personnelle ou réelle en faveur de toute personne ou société liée ou non
- S’intéresser par voie d’apport, de fusion ou d’absorption ou de toutes autres manières, à toute autre entreprise ayant un objet similaire, connexe ou annexe de nature à faciliter la réalisation de son objet
- Vendre ou concéder toute marque de fabrique, secret de fabrication ou brevet en rapport avec son objet
- Participer sous forme de franchisage à la création d’entreprises de même type
- Accomplir toutes ces opérations en nom et pour compte propre, ainsi que pour ses actionnaires ou pour compte de tiers, notamment à titre de commissionnaires
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 25025C0029/00P002 | Wallonia | 1,170 m² | 1 · 209 m² | 11.1 m · 2 |
| 25101B0601/00P000 | Wallonia | 970 m² | 1 · 128 m² | 7.6 m · 2 |