ITISCO
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 30-04-2026 PDF all 2 filings
Every figure per financial year
The operating result for 2025 is a loss of €32,843, smaller than the loss of €42,638 in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Securities and guarantees
| Item | 30-09-2024 | 30-09-2025 |
|---|---|---|
| Debts secured on the company's own assets | €93,542 | €85,405 |
| Mortgages, amount registered | - | €105,000 |
| Carrying value of the mortgaged assets | - | €144,661 |
| Pledge on other assets, amount secured | €105,000 | - |
| Carrying value of the other pledged assets | €156,301 | - |
Source: notes to the 2024 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2024 | 30-09-2025 |
|---|---|---|
| Tangible fixed assets | €170,086 | €1,514 |
| Depreciation and write-downs of the year | €9,443 | €13,134 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,443 | €13,134 | ▲ 39.1% |
| Other operating charges640/8 | €829 | €348 | ▼ 58.0% |
| Gross operating margin9900 | -€32,366 | -€19,361 | ▲ 40.2% |
| Operating profit (loss)9901 | -€42,638 | -€32,843 | ▲ 23.0% |
| Financial income75/76B | €88 | €119 | ▲ 35.8% |
| Recurring financial income75 | €88 | €119 | ▲ 35.8% |
| Financial charges65/66B | €7,601 | €7,693 | ▲ 1.2% |
| Recurring financial charges65 | €7,601 | €7,693 | ▲ 1.2% |
| Profit (loss) for the period before taxes9903 | -€50,151 | -€40,417 | ▲ 19.4% |
| Profit (loss) for the period9904 | -€50,151 | -€40,417 | ▲ 19.4% |
| Profit (loss) for the period to be appropriated9905 | -€50,151 | -€40,417 | ▲ 19.4% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €175,812 | €182,237 | ▲ 3.7% |
| Fixed assets21/28 | €160,643 | €149,023 | ▼ 7.2% |
| Tangible fixed assets22/27 | €160,643 | €149,023 | ▼ 7.2% |
| Plant, machinery and equipment23 | €3,645 | €3,367 | ▼ 7.6% |
| Furniture and vehicles24 | €697 | €995 | ▲ 42.9% |
| Other tangible fixed assets26 | €156,301 | €144,661 | ▼ 7.4% |
| Current assets29/58 | €15,169 | €33,214 | ▲ 119% |
| Stocks and contracts in progress3 | €7,462 | €5,758 | ▼ 22.8% |
| Stocks30/36 | €7,462 | €5,758 | ▼ 22.8% |
| Amounts receivable within one year40/41 | €6,321 | €4,794 | ▼ 24.2% |
| Trade receivables40 | €1,064 | €4,434 | ▲ 317% |
| Other amounts receivable41 | €5,257 | €360 | ▼ 93.1% |
| Cash at bank and in hand54/58 | €1,023 | €22,200 | ▲ 22× |
| Deferred charges and accrued income490/1 | €364 | €462 | ▲ 26.9% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €175,812 | €182,237 | ▲ 3.7% |
| Equity10/15 | €49,849 | €9,432 | ▼ 81.1% |
| Contributions10/11 | €100,000 | €100,000 | = |
| Profit (loss) carried forward14 | -€50,151 | -€90,568 | ▼ 80.6% |
| Amounts payable17/49 | €125,963 | €172,805 | ▲ 37.2% |
| Amounts payable after more than one year17 | €85,405 | €76,825 | ▼ 10.0% |
| Financial debts170/4 | €85,405 | €76,825 | ▼ 10.0% |
| Amounts payable within one year42/48 | €40,143 | €94,363 | ▲ 135% |
| Current portion of amounts payable after more than one year42 | €8,137 | €78,580 | ▲ 866% |
| Financial debts43 | €23,362 | €0 | ▼ 100% |
| Credit institutions430/8 | €3,362 | €0 | ▼ 100% |
| Other loans439 | €20,000 | €0 | ▼ 100% |
| Trade debts44 | €6,798 | €7,956 | ▲ 17.0% |
| Suppliers440/4 | €6,798 | €7,956 | ▲ 17.0% |
| Taxes, remuneration and social security45 | €46 | €47 | ▲ 3.0% |
| Taxes450/3 | €46 | €47 | ▲ 3.0% |
| Other amounts payable47/48 | €1,800 | €7,780 | ▲ 332% |
| Accrued charges and deferred income492/3 | €415 | €1,616 | ▲ 290% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€50,151 | -€40,417 | ▲ 19.4% |
| + Depreciation and write-downs630 | €9,443 | €13,134 | ▲ 39.1% |
| Operating cash flow (approximation) | -€40,708 | -€27,283 | ▲ 33.0% |
| Investment in fixed assets (approximation) | - | -€1,514 | - |
| Change in cash | - | €21,177 | - |
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, 757 companies had the same profile as ITISCO has now. Two years later, 86.8% were still going and 7.9% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency under 10%
- a loss of 10% of the balance sheet or more
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ITISCO itself: 3.5% 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 757 companies, not a prediction for ITISCO. 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.