Checked.be
Active
BE 0509.965.325Private limited company
ITHORA CONSULTING
Afsneestraat 9 ·9051 Gent, Belgium· 13 yrs active
Sector: Other software publishing
(58290)
Conclusion
ITHORA CONSULTING has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €139k and a net result of €40k. Equity is growing by ~10.5% per year across the filed fiscal years. Its solvency ranks better than 86% of 878 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €139k |
| Net result | €40k |
| Better than sector | 86% |
| Active | 13 yrs |
Financial profile
95
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
98
Profitability
100
Solvency
100
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2013, 13 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
98
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€14k
estimate, not credit advice
Score history
55
2020
80
2021
93
2022
100
2023
98
2024
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 7.58 (≥ 1.5)
+10
Quick ratio
Quick ratio 7.58 (≥ 1.0)
+5
Leverage
Debt/equity 0.12 (< 1.0)
+10
Profitability
ROE 29% (≥ 10%)
+10
Interest coverage
Interest coverage 33.8× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Financial overview
Annual accounts filed on 27-06-2025 with the NBB · fiscal year 2024 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~10.5%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2024 · NACE 58, Publishing activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 89.5% | 50.5% | |
| Net result | €40k | €6k | |
| Equity | €139k | €48k | |
| Gross operating margin | €64k | €24k | |
| Total assets | €155k | €130k |
€64k
+22.8%
20-24
€40k
+22.9%
20-24
€49k
+24.7%
20-24
€155k
-9.6%
20-24
€139k
-7.4%
20-24
€107k
-19.8%
20-24
€15k
+7.1%
20-24
€51k
+459.0%
20-24
€16k
-24.5%
20-24
€16k
-23.9%
20-24
7.58
+4.6%
20-24
7.58
+4.6%
20-24
89.5%
+2.4%
20-24
0.12
-18.4%
20-24
29.0%
+32.8%
20-24
26.0%
+35.9%
20-24
33.81
-70.0%
20-24
Figures by fiscal year and ratios
| Fiscal year | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €64k | €52k | €45k | €51k | €72k |
| Net profit | €40k | €33k | €29k | €32k | €-4k |
| Cash flow | €49k | €39k | €35k | €36k | €-2k |
| Staff costs | - | - | - | - | - |
| Income taxes | €15k | €14k | €11k | €15k | €3k |
| Dividends | €51k | - | €9k | €42k | - |
| Total assets | €155k | €171k | €129k | €115k | €116k |
| Equity | €139k | €150k | €117k | €97k | €107k |
| Debt | €16k | €21k | €12k | €18k | €9k |
| of which ≤ 1y | €16k | €21k | €12k | €17k | €9k |
| of which > 1y | - | - | - | - | - |
| Working capital | €107k | €133k | €97k | €87k | €99k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Current ratio | 7.58 | 7.24 | 9.18 | 6.00 | 12.19 |
| Quick ratio | 7.58 | 7.24 | 9.18 | 6.00 | 12.19 |
| Working capital ratio | 68.9% | 77.7% | 74.9% | 76.1% | 85.4% |
| Solvency | 89.5% | 87.5% | 90.7% | 84.6% | 92.4% |
| Debt / equity | 0.12 | 0.14 | 0.10 | 0.18 | - |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | 33.81 | 112.89 | 87.05 | 0.53 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 26.0% | 19.1% | 22.4% | 28.0% | -3.3% |
| ROE | 29.0% | 21.9% | 24.7% | 33.0% | -3.6% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2024
Full annual accounts (22 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €155k | €171k | €129k | €115k | €116k |
| Fixed assets | 21/28 | €32k | €17k | €20k | €10k | €8k |
| Tangible fixed assets | 22/27 | €32k | €17k | €20k | €10k | €8k |
| Current assets | 29/58 | €123k | €154k | €108k | €105k | €107k |
| Amounts receivable within one year | 40/41 | €25k | €48k | €40k | €58k | €86k |
| Cash & bank | 54/58 | €45k | €50k | €15k | €45k | €15k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €155k | €171k | €129k | €115k | €116k |
| Equity | 10/15 | €139k | €150k | €117k | €97k | €107k |
| Contributions / capital | 10/11 | €6k | €6k | €6k | €6k | - |
| Reserves | 13 | €132k | €144k | €111k | €91k | €104k |
| Accumulated profits (losses) | 14 | €0 | - | - | - | €-4k |
| Amounts payable | 17/49 | €16k | €21k | €12k | €18k | €9k |
| Amounts payable within one year | 42/48 | €16k | €21k | €12k | €17k | €9k |
| Trade debts payable within one year | 44 | €6k | €3k | €1k | €3k | €4k |
| Income statement | ||||||
| Gross operating margin | 9900 | €64k | €74k | €65k | €67k | €73k |
| Operating result | 9901 | €56k | €46k | €39k | €47k | €70k |
| Financial income | 75 | €2k | €1k | €2k | €691 | €971 |
| Financial charges | 65 | €2k | €463 | €519 | €95k | €677 |
| Result before taxes | 9903 | €56k | €47k | €40k | €47k | €-1k |
| Income taxes | 67/77 | €15k | €14k | €11k | €15k | €3k |
| Net result for the period | 9904 | €40k | €33k | €29k | €32k | €-4k |
| Result to be appropriated | 9905 | €40k | €33k | €29k | €32k | €-4k |
Legal Structure
| NACE primary | Other software publishing(58290) |
| Legal form | Private limited company(610) |
| Incorporation | 14-02-2013 |
| Status | Active |
| Postal code | 9051 |
Establishment units
ITHORA CONSULTING
since 20132.216.887.488
Real-estate footprint
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44806F0248/00C004 | Flanders | 6,540 m² | 1 · 933 m² | 22.5 m · 4 fl. |
| 44062D0062/00C002 | Flanders | 748 m² | 1 · 147 m² | 7.3 m · 2 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2020net €40k ▲22.9%
Net result €40k, the highest in the series.
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
23-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €100kEq €117k ▲20.3%
2 profitable years in a row build equity to €117k.
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €32k
Net result €32k after one loss-making year.
18-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
05-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 97 days late
2019
21-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 82 days late
2018
20-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 20 days late
2017
23-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
20-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Other software publishing58290Computer consultancy and computer facilities management62200
Names & trade names
| Legal nameNL | ITHORA CONSULTING |
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