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ITENSO TECHNICS

Active
Private limited companyfounded 200224 yrs activeGroenbek 58, 8790 Waregem, BelgiumKBO/BCE: BE 0478.318.678
Summary

The annual accounts of ITENSO TECHNICS for fiscal year 2024 show a net loss of 69% of the equity at the start of that year. The 2024 annual accounts show equity of €61,453 and a net result of -€134,753. Equity is shrinking by ~3.8% per year across the filed fiscal years. Its solvency ranks better than 14% of 514 sector peers (fiscal year 2024). The company has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.6% (low).

Checked score

Score 2024
Axes · tick = 2023
Profitability3▼-91
Solvency31▼-32
Growth32▼-46
Track record100
Bankruptcy probability, 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.6 against 1.61 in 2023; short-term debt: 94.4% and cash: 2.2% of total assets), and 94.4% of the assets are financed with debt.
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Signals

Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · 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
highest failure risk from 2 to 8 years 24 years 0 30 y
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024
Solvency, return and age of the figures
Solvency
5.6%
Return on assets
-12.3%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 514 sector peers (2024).
NBB · sector comparison
Position among 514 sector peers
Solvency
better than 14%
← weakest strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filings
Deviation from the deadline
2025
not confirmed
2024
61 d late
2023
138 d late
2022
68 d late
2021
30 d late
2020
26 d late
2019
91 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 69 days after the deadline; the sector median for financial year 2024 is 11 days before the deadline, and 32% of the sector filed late.

Checked, nothing found (1)
neutral · 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

History

On 12 September 2002, ITENSO TECHNICS was incorporated.1 Total assets went from EUR 775,036 in 2018 to EUR 1.1 million in 2024 and headcount from 3 full-time equivalents in 2018 to 3 in 2023.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018, 2023 and 2024

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Financials · fiscal year 2024, micro schema

Equity
€61,453▼ 68.7%
2023 · €196,206
Total assets
€1.1m▲ 112%
2023 · €514,781
Net result
-€134,753
2023 · €104,868
Working capital
-€415,943
2023 · €194,063
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 28, Manufacture of machinery and equipment not elsewhere classified, 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€43,829▼ 8.7%€39,144▼ 10.7%€144,676▲ 270%€150,122▲ 3.8%-€129,008
Net result€29,764within the sector's middle half▼ 27.6%€24,541within the sector's middle half▼ 17.5%€103,298above the sector's middle half▲ 321%€104,868above the sector's middle half▲ 1.5%-€134,753below the sector's middle half
Equity€233,499above the sector's middle half▲ 14.6%€178,040within the sector's middle half▼ 23.8%€181,338within the sector's middle half▲ 1.9%€196,206within the sector's middle half▲ 8.2%€61,453within the sector's middle half▼ 68.7%
Total assets€476,503above the sector's middle half▼ 22.4%€454,602within the sector's middle half▼ 4.6%€662,845above the sector's middle half▲ 45.8%€514,781above the sector's middle half▼ 22.3%€1.1mabove the sector's middle half▲ 112%
Debt€243,005▼ 40.8%€276,562▲ 13.8%€481,507▲ 74.1%€318,575▼ 33.8%€1.0m▲ 224%
Working capital€168,074▼ 10.5%€138,291▼ 17.7%€175,503▲ 26.9%€194,063▲ 10.6%-€415,943
Solvency49.0%within the sector's middle half▲ 15.8pp39.2%within the sector's middle half▼ 9.8pp27.4%within the sector's middle half▼ 11.8pp38.1%within the sector's middle half▲ 10.8pp5.6%below the sector's middle half▼ 32.5pp
Staff (FTE)3above the sector's middle half=3=3=3=
above within below the middle half (P25 to P75) of NACE 28, Manufacture of machinery and equipment not elsewhere classified, 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
-€200,000-€100,000€0€100,000€200,000Operating result 2020: €43,829€43,829Net result 2020: €29,764€29,764Operating result 2021: €39,144€39,144Net result 2021: €24,541€24,541Operating result 2022: €144,676€144,676Net result 2022: €103,298€103,298Operating result 2023: €150,122€150,122Net result 2023: €104,868€104,868Operating result 2024: -€129,008-€129,008Net result 2024: -€134,753-€134,75320202021202220232024-€200,000-€100,000€0€100,000€200,000Operating result 2022: €144,676€145,000Net result 2022: €103,298€103,000Operating result 2023: €150,122€150,000Net result 2023: €104,868€105,000Operating result 2024: -€129,008-€129,000Net result 2024: -€134,753-€135,000202220232024
The operating result turns negative in 2024: a loss of €129,008 after €150,122 in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.1m
Fixed assets €477,396 ▲ 22,177%
Current assets €615,002 ▲ 20.0%
Equity and liabilities €1.1m
Equity €61,453 ▼ 68.7%
Debt €1.0m ▲ 224%
Debt's share of the balance-sheet total rises from 61.9% to 94.4%. Equity is lower and debt is higher.
Key figures and ratios
2024 value · change against 2023
EBITDA
-€52,810▼
2023 · €153,815
Cash flow
-€58,554▼
2023 · €108,560
Current ratio
0.60▼
2023 · 1.61
Quick ratio
0.24▼
2023 · 0.85
Debt to equity
16.78▲
2023 · 1.62
ROE
-219.3%▼
2023 · 53.4%
ROA
-12.3%▼
2023 · 20.4%
Interest coverage
-6.70▼
2023 · 34.60
Debt ≤ 1 year
€1.0m▲
2023 · €318,575
Income taxes
€0▼
2023 · €40,817
Staff costs
€176,762▲
2023 · €155,646
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 175 companies that looked in July 2024 the way this one looks now, 4.0% went bankrupt within 24 months and 85% are still going.

  • Small
  • 20 years or older
  • solvency under 10%
  • a loss of 10% of the balance sheet or more
4.0% went bankrupt
8.0% stopped otherwise
85% still going

A further 3.4% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a lower bankruptcy probability: 0.6% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.4%
3 0.5% 0.5%
4 0.6% 0.7%
5 0.8% 0.9%
6 1.2% 1.3%
7 1.5% 1.6%
8 1.7% 1.7%
9 2.7% 2.8%
10 5.3% 5.7%

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 175 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
Filed annual accounts As filed with the NBB · 2024 against 2023 · 53 lines
Balance sheet Code20232024
Assets
Total assets20/58€514,781€1.1m▲
Fixed assets21/28€2,143€477,396▲
Intangible fixed assets21-€476,066
Tangible fixed assets22/27€2,143€1,331▼
Plant, machinery and equipment23€523€1,331▲
Furniture and vehicles24€0€0=
Other tangible fixed assets26€1,620€0▼
Current assets29/58€512,638€615,002▲
Stocks and contracts in progress3€241,887€366,887▲
Stocks30/36€203,972€328,972▲
Contracts in progress37€37,915€37,915=
Amounts receivable within one year40/41€149,632€223,788▲
Trade receivables40€104,292€223,681▲
Other amounts receivable41€45,340€107▼
Cash at bank and in hand54/58€121,118€24,327▼
Equity and liabilities
Total equity and liabilities10/49€514,781€1.1m▲
Equity10/15€196,206€61,453▼
Contributions10/11€20,000€20,000=
Reserves13€176,206€176,206=
Non-distributable reserves130/1€2,000€2,000=
Reserves not available under the articles1311€2,000€2,000=
Distributable reserves133€174,206€174,206=
Profit (loss) carried forward14€0-€134,753▼
Amounts payable17/49€318,575€1.0m▲
Amounts payable within one year42/48€318,575€1.0m▲
Current portion of amounts payable after more than one year42€0-
Financial debts43€125,000€175,000▲
Credit institutions430/8€125,000€175,000▲
Trade debts44€16,608€194,582▲
Suppliers440/4€16,608€194,582▲
Taxes, remuneration and social security45€63,037€58,607▼
Taxes450/3€48,128€44,707▼
Remuneration and social security454/9€14,909€13,899▼
Other amounts payable47/48€113,930€602,756▲
Income statement Code20232024
Remuneration, social security and pensions62€155,646€176,762▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3,692€76,199▲
Other operating charges640/8€0€771▲
Non-recurring operating charges66A-€1,620
Gross operating margin9900€309,461€126,344▼
Operating profit (loss)9901€150,122-€129,008▼
Financial income75/76B€8€2,136▲
Recurring financial income75€8€2,136▲
Financial charges65/66B€4,446€7,880▲
Recurring financial charges65€4,446€7,880▲
Profit (loss) for the period before taxes9903€145,685-€134,753▼
Income taxes67/77€40,817€0▼
Profit (loss) for the period9904€104,868-€134,753▼
Profit (loss) for the period to be appropriated9905€104,868-€134,753▼
Appropriation of the result
Profit (loss) to be appropriated9906€104,868-€134,753▼
Transfer to equity691/2€14,868€0▼
To other reserves6921€14,868€0▼
Profit to be distributed694/7€90,000€0▼
Return on contributions (dividend)694€90,000€0▼

The notes to these accounts (19 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20202021202220232024Change
Remuneration, social security and pensions62-€119,809€144,435€155,646€176,762▲ 13.6%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€76,262€75,618€47,592€3,692€76,199▲ 1,964%
Other operating charges640/8-€724€851€0€771-
Non-recurring operating charges66A----€1,620-
Gross operating margin9900€221,516€235,295€337,554€309,461€126,344▼ 59.2%
Operating profit (loss)9901€43,829€39,144€144,676€150,122-€129,008▼ 186%
Financial income75/76B-€0€1,240€8€2,136▲ 26,702%
Recurring financial income75€6€0€1,240€8€2,136▲ 26,702%
Financial charges65/66B-€3,092€4,363€4,446€7,880▲ 77.3%
Recurring financial charges65€4,171€3,092€4,363€4,446€7,880▲ 77.3%
Profit (loss) for the period before taxes9903€39,664€36,052€141,553€145,685-€134,753▼ 192%
Income taxes67/77€9,900€11,510€38,255€40,817€0▼ 100%
Profit (loss) for the period9904€29,764€24,541€103,298€104,868-€134,753▼ 228%
Profit (loss) for the period to be appropriated9905€29,764€24,541€103,298€104,868-€134,753▼ 228%
Line20202021202220232024Change
Assets
Total assets20/58€476,503€454,602€662,845€514,781€1.1m▲ 112%
Fixed assets21/28€129,046€53,428€5,835€2,143€477,396▲ 22,177%
Intangible fixed assets21----€476,066-
Tangible fixed assets22/27€129,046€53,428€5,835€2,143€1,331▼ 37.9%
Plant, machinery and equipment23-€50,494€3,558€523€1,331▲ 155%
Furniture and vehicles24-€0€0€0€0=
Other tangible fixed assets26-€2,934€2,277€1,620€0▼ 100%
Financial fixed assets28€0-----
Current assets29/58€347,457€401,174€657,010€512,638€615,002▲ 20.0%
Stocks and contracts in progress3€258,909€255,914€214,937€241,887€366,887▲ 51.7%
Stocks30/36-€255,914€214,937€203,972€328,972▲ 61.3%
Contracts in progress37---€37,915€37,915=
Amounts receivable within one year40/41€61,285€101,794€289,032€149,632€223,788▲ 49.6%
Trade receivables40-€101,794€289,032€104,292€223,681▲ 114%
Other amounts receivable41-€0-€45,340€107▼ 99.8%
Cash at bank and in hand54/58€27,264€43,467€153,040€121,118€24,327▼ 79.9%
Equity and liabilities
Total equity and liabilities10/49€476,503€454,602€662,845€514,781€1.1m▲ 112%
Equity10/15€233,499€178,040€181,338€196,206€61,453▼ 68.7%
Contributions10/11-€20,000€20,000€20,000€20,000=
Reserves13€213,499€158,040€161,338€176,206€176,206=
Non-distributable reserves130/1-€2,000€2,000€2,000€2,000=
Reserves not available under the articles1311-€2,000€2,000€2,000€2,000=
Distributable reserves133-€156,040€159,338€174,206€174,206=
Profit (loss) carried forward14-€0€0€0-€134,753-
Amounts payable17/49€243,005€276,562€481,507€318,575€1.0m▲ 224%
Amounts payable after more than one year17€63,621€13,679€0---
Financial debts170/4-€13,679€0---
Amounts payable within one year42/48€179,383€262,883€481,507€318,575€1.0m▲ 224%
Current portion of amounts payable after more than one year42-€51,461€13,679€0--
Financial debts43--€125,000€125,000€175,000▲ 40.0%
Credit institutions430/8--€125,000€125,000€175,000▲ 40.0%
Trade debts44€20,275€70,280€37,982€16,608€194,582▲ 1,072%
Suppliers440/4-€70,280€37,982€16,608€194,582▲ 1,072%
Taxes, remuneration and social security45-€26,972€90,671€63,037€58,607▼ 7.0%
Taxes450/3-€23,927€67,689€48,128€44,707▼ 7.1%
Remuneration and social security454/9-€3,045€22,982€14,909€13,899▼ 6.8%
Other amounts payable47/48-€114,170€214,175€113,930€602,756▲ 429%
Line20202021202220232024Change
Profit (loss) for the period9904€29,764€24,541€103,298€104,868-€134,753▼ 228%
+ Depreciation and write-downs630€76,262€75,618€47,592€3,692€76,199▲ 1,964%
Operating cash flow (approximation)€106,026€100,160€150,891€108,560-€58,554▼ 154%
Investment in fixed assets (approximation)-€0€0€0-€551,452-
Change in cash-€16,203€109,574-€31,922-€96,792▼ 203%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

2025
30-09
NBB filing Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-12
Financial Weakest financial yearnet -€134,753
Net result drops to -€134,753, the lowest in the series.
16-12
NBB filing Annual accounts filed
fiscal year 2023 · micro schema · 138 days late
2023
31-12
Financial Highest result since 2018net €104,868 ▲1.5%
Operating result €150,122, net result €104,868, both a record.
07-10
NBB filing Annual accounts filed
fiscal year 2022 · micro schema · 68 days late
2022
30-08
NBB filing Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
26-08
NBB filing Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
30-10
NBB filing Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
31-12
Financial Equity above €200,000Eq €203,735 ▲25.3%
2 profitable years in a row build equity to €203,735.
30-08
NBB filing Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
28-08
NBB filing Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
28-08
NBB filing Annual accounts filed
fiscal year 2016 · abbreviated schema · 28 days late
2016
31-08
NBB filing Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts

We know of 9 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors
9 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, Waregem · 1 establishment unit since 2002
seat establishment The establishment unit on the map
Ground area
5,381 m²
Building footprint
3,923 m²
Volume, LiDAR
5,167 m³
2 parcels, Flanders · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VDS-Technics
Windhoek 19, 8790 WaregemManufacture of fabricated metal products, except machinery and equipment
since 20022.114.455.884
2 parcels
Flanders 2 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
34453E0205/00M007 Flanders 3,019 m² 1 · 3,124 m² 0.1 m
34040C0229/00A004 Flanders 2,362 m² 1 · 799 m² 8.4 m · 2 fl.
Linked by address, not proof of ownership
Good to know
2 of 2 parcels 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 owner

Chain of control

  1. ITENSO 100%
  2. ITENSO TECHNICS

Highest known parent: ITENSO. The sources do not say who stands above it.

Owners 1

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts 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.

Similar companies · same sector, comparable size

Of 136 companies in sector 28410 we hold annual accounts for 107. 43 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
Founded12-09-2002
Fiscal year end31-12
Activities, NACEBEL 2025
25530Machining of metals
28410Manufacture of machinery and equipment not elsewhere classified
25401Forging of metal
E-invoicing
Reachable via Peppol
Peppol ID 0208:0478318678
Also 9925:BE0478318678
Registered 25-11-2025

Register as of 27 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.