ITLICIOUS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 08-05-2026 PDF all 12 filings
Turnover
≈ €1.5m
Estimated: probably between €1.1m and €2.4m
Total assets
€290,731▼ 26.0%
2024 · €392,859
Net result
€116,711▲ 567%
2024 · €17,486
Working capital
-€35,587
2024 · €126,391
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€157,009
▲ 483%
2025
20182025
Net result
€116,711
▲ 567%
2025
highest quarter of the sector
20182025
Equity
€18,600
▼ 91.8%
2025
lowest quarter of the sector
20182025
Total assets
€290,731
▼ 26.0%
2025
highest quarter of the sector
20182025
Debt
€272,131
▲ 63.3%
2025
20182025
Working capital
-€35,587
2025
lowest quarter of the sector
20182025
Solvency
6.4%
▼ 51.2pp
2025
lowest quarter of the sector
20182025
Current ratio
0.86
▼ 1.01
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
40.1%
▲ 35.7pp
2025
highest quarter of the sector
20182025
Staff (FTE)
5.2
▲ 4.0%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€41,793-€74,220▲ 77.6%€108,423▲ 46.1%€103,575▼ 4.5%€91,496▼ 11.7%€140,017▲ 53.0%€26,932▼ 80.8%€157,009▲ 483%
Net result€30,288-€56,414▲ 86.3%€80,734above the sector's middle half▲ 43.1%€75,954above the sector's middle half▼ 5.9%€67,799above the sector's middle half▼ 10.7%€104,184above the sector's middle half▲ 53.7%€17,486within the sector's middle half▼ 83.2%€116,711above the sector's middle half▲ 567%
Equity€50,748-€102,569▲ 102%€177,304above the sector's middle half▲ 72.9%€163,925above the sector's middle half▼ 7.5%€223,058above the sector's middle half▲ 36.1%€318,742above the sector's middle half▲ 42.9%€226,228above the sector's middle half▼ 29.0%€18,600below the sector's middle half▼ 91.8%
Total assets€90,250-€202,408▲ 124%€339,553above the sector's middle half▲ 67.8%€417,737above the sector's middle half▲ 23.0%€448,024above the sector's middle half▲ 7.3%€525,730above the sector's middle half▲ 17.3%€392,859above the sector's middle half▼ 25.3%€290,731above the sector's middle half▼ 26.0%
Debt€39,503-€99,838▲ 153%€162,249▲ 62.5%€253,812▲ 56.4%€224,966▼ 11.4%€206,989▼ 8.0%€166,631▼ 19.5%€272,131▲ 63.3%
Working capital€32,629-€77,312▲ 137%€144,821above the sector's middle half▲ 87.3%€81,026within the sector's middle half▼ 44.1%€75,948within the sector's middle half▼ 6.3%€187,817above the sector's middle half▲ 147%€126,391above the sector's middle half▼ 32.7%-€35,587below the sector's middle half
Solvency56.2%-50.7%▼ 5.6pp52.2%within the sector's middle half▲ 1.5pp39.2%within the sector's middle half▼ 13.0pp49.8%within the sector's middle half▲ 10.5pp60.6%within the sector's middle half▲ 10.8pp57.6%within the sector's middle half▼ 3.0pp6.4%below the sector's middle half▼ 51.2pp
Current ratio1.83-1.88▲ 0.052.12within the sector's middle half▲ 0.251.53within the sector's middle half▼ 0.591.45within the sector's middle half▼ 0.082.16within the sector's middle half▲ 0.711.87within the sector's middle half▼ 0.290.86below the sector's middle half▼ 1.01
Return on assets (ROA)33.6%-27.9%▼ 5.7pp23.8%within the sector's middle half▼ 4.1pp18.2%within the sector's middle half▼ 5.6pp15.1%within the sector's middle half▼ 3.0pp19.8%within the sector's middle half▲ 4.7pp4.5%within the sector's middle half▼ 15.4pp40.1%above the sector's middle half▲ 35.7pp
Staff (FTE)1-2.3▲ 130%3.3above the sector's middle half▲ 43.5%4.1▲ 24.2%4.4▲ 7.3%5.1▲ 15.9%5▼ 2.0%5.2▲ 4.0%
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 over 5.8 times that of 2024 and the highest since 2018. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The micro 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 €290,731
Fixed assets
€70,205 ▼ 42.4%
Current assets
€220,527 ▼ 18.6%
Equity and liabilities €290,731
Equity
€18,600 ▼ 91.8%
Debt
€272,131 ▲ 63.3%
Debt's share of the balance-sheet total rises from 42.4% to 93.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€205,055▲
2024 · €83,628
Cash flow
€164,758▲
2024 · €74,182
Debt to equity
14.63▲
2024 · 0.74
ROE
627.5%▲
2024 · 7.7%
Interest coverage
96.86▲
2024 · 28.97
Debt ≤ 1 year
€256,114▲
2024 · €144,564
Debt > 1 year
€14,588▼
2024 · €22,067
Income taxes
€38,941▲
2024 · €8,655
Staff costs
€374,977▲
2024 · €346,510
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 4 | 5 | 5 | 5 | 5 |
| full-time | 4 | 5 | 5 | 5 | 5 |
| in full-time equivalents | 4 | 5 | 5 | 5 | 5 |
| Average over the year, in full-time equivalents | 4.1 | 4.4 | 5 | 5 | 5.2 |
| On a permanent contract | 4 | 5 | 5 | 5 | 5 |
| Joined | 2 | 1 | 1 | - | 1 |
| Left | 1 | 0 | 1 | - | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €156,985 | €69,617 | €63,058 | €4,439 | - |
| Depreciation and write-downs of the year | €34,797 | €50,465 | €50,365 | €56,696 | €48,046 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 · 1 entry · €3,435 awarded · €3,435 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €3,115 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €227,738 | €254,377 | €335,496 | €346,510 | €374,977 | ▲ 8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,789 | €9,204 | €16,110 | €34,797 | €50,465 | €50,365 | €56,696 | €48,046 | ▼ 15.3% |
| Other operating charges640/8 | - | - | - | €1,589 | €1,680 | €1,365 | €1,432 | €899 | ▼ 37.2% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €823 | - |
| Gross operating margin9900 | €91,729 | €213,601 | €353,084 | €367,699 | €398,018 | €527,243 | €431,570 | €581,754 | ▲ 34.8% |
| Operating profit (loss)9901 | €41,793 | €74,220 | €108,423 | €103,575 | €91,496 | €140,017 | €26,932 | €157,009 | ▲ 483% |
| Financial income75/76B | - | - | - | €25 | €46 | €210 | €2,095 | €761 | ▼ 63.7% |
| Recurring financial income75 | €43 | €50 | €288 | €25 | €46 | €210 | €2,095 | €761 | ▼ 63.7% |
| Financial charges65/66B | - | - | - | €2,332 | €1,886 | €2,171 | €2,886 | €2,117 | ▼ 26.7% |
| Recurring financial charges65 | €1,639 | €1,380 | €1,435 | €2,332 | €1,886 | €2,171 | €2,886 | €2,117 | ▼ 26.7% |
| Profit (loss) for the period before taxes9903 | €40,197 | €72,890 | €107,276 | €101,268 | €89,655 | €138,055 | €26,141 | €155,653 | ▲ 495% |
| Income taxes67/77 | €9,909 | €16,477 | €26,542 | €25,314 | €21,856 | €33,872 | €8,655 | €38,941 | ▲ 350% |
| Profit (loss) for the period9904 | €30,288 | €56,414 | €80,734 | €75,954 | €67,799 | €104,184 | €17,486 | €116,711 | ▲ 567% |
| Profit (loss) for the period to be appropriated9905 | €30,288 | €56,414 | €80,734 | €75,954 | €67,799 | €104,184 | €17,486 | €116,711 | ▲ 567% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €90,250 | €202,408 | €339,553 | €417,737 | €448,024 | €525,730 | €392,859 | €290,731 | ▼ 26.0% |
| Fixed assets21/28 | €18,119 | €36,762 | €65,489 | €183,996 | €203,147 | €176,415 | €121,903 | €70,205 | ▼ 42.4% |
| Tangible fixed assets22/27 | €18,119 | €36,762 | €65,489 | €183,996 | €203,147 | €176,415 | €121,903 | €70,205 | ▼ 42.4% |
| Plant, machinery and equipment23 | - | - | - | - | €2,347 | €7,822 | €9,783 | €5,954 | ▼ 39.1% |
| Furniture and vehicles24 | - | - | - | €135,239 | €152,672 | €126,471 | €82,620 | €47,373 | ▼ 42.7% |
| Leasing and similar rights25 | - | - | - | €34,933 | €26,283 | €17,633 | €8,982 | €332 | ▼ 96.3% |
| Other tangible fixed assets26 | - | - | - | €13,823 | €21,845 | €24,489 | €20,518 | €16,546 | ▼ 19.4% |
| Current assets29/58 | €72,132 | €165,646 | €274,064 | €233,741 | €244,876 | €349,316 | €270,956 | €220,527 | ▼ 18.6% |
| Amounts receivable within one year40/41 | €38,457 | €112,750 | €188,032 | €89,179 | €105,751 | €90,377 | €131,713 | €101,899 | ▼ 22.6% |
| Trade receivables40 | - | - | - | €77,813 | €87,403 | €62,248 | €120,005 | €97,948 | ▼ 18.4% |
| Other amounts receivable41 | - | - | - | €11,366 | €18,348 | €28,128 | €11,708 | €3,951 | ▼ 66.3% |
| Current investments50/53 | - | - | - | - | - | €150,000 | - | - | - |
| Cash at bank and in hand54/58 | €27,938 | €47,851 | €81,802 | €135,571 | €121,915 | €106,337 | €130,927 | €111,688 | ▼ 14.7% |
| Deferred charges and accrued income490/1 | - | - | - | €8,991 | €17,210 | €2,602 | €8,315 | €6,940 | ▼ 16.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €90,250 | €202,408 | €339,553 | €417,737 | €448,024 | €525,730 | €392,859 | €290,731 | ▼ 26.0% |
| Equity10/15 | €50,748 | €102,569 | €177,304 | €163,925 | €223,058 | €318,742 | €226,228 | €18,600 | ▼ 91.8% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €32,148 | €83,969 | €158,704 | €145,325 | €204,458 | €300,142 | €207,628 | - | - |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €143,465 | €202,598 | €300,142 | €207,628 | - | - |
| Amounts payable17/49 | €39,503 | €99,838 | €162,249 | €253,812 | €224,966 | €206,989 | €166,631 | €272,131 | ▲ 63.3% |
| Amounts payable after more than one year17 | - | €11,505 | €33,006 | €101,097 | €56,037 | €45,340 | €22,067 | €14,588 | ▼ 33.9% |
| Financial debts170/4 | - | - | - | €101,097 | €56,037 | €45,340 | €22,067 | €14,588 | ▼ 33.9% |
| Amounts payable within one year42/48 | €39,503 | €88,334 | €129,242 | €152,715 | €168,929 | €161,499 | €144,564 | €256,114 | ▲ 77.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €45,685 | €45,060 | €46,774 | €23,273 | €7,478 | ▼ 67.9% |
| Trade debts44 | €2,284 | €40,713 | €53,988 | €22,598 | €41,164 | €42,574 | €30,012 | €35,792 | ▲ 19.3% |
| Suppliers440/4 | - | - | - | €22,598 | €41,164 | €42,574 | €30,012 | €35,792 | ▲ 19.3% |
| Taxes, remuneration and social security45 | - | - | - | €68,055 | €61,067 | €49,823 | €76,704 | €88,758 | ▲ 15.7% |
| Taxes450/3 | - | - | - | €29,097 | €18,607 | €34 | €22,831 | €37,323 | ▲ 63.5% |
| Remuneration and social security454/9 | - | - | - | €38,958 | €42,460 | €49,789 | €53,873 | €51,435 | ▼ 4.5% |
| Other amounts payable47/48 | - | - | - | €16,376 | €21,638 | €22,327 | €14,575 | €124,086 | ▲ 751% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €150 | - | €1,429 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €30,288 | €56,414 | €80,734 | €75,954 | €67,799 | €104,184 | €17,486 | €116,711 | ▲ 567% |
| + Depreciation and write-downs630 | €3,789 | €9,204 | €16,110 | €34,797 | €50,465 | €50,365 | €56,696 | €48,046 | ▼ 15.3% |
| Operating cash flow (approximation) | €34,077 | €65,618 | €96,845 | €110,752 | €118,264 | €154,549 | €74,182 | €164,758 | ▲ 122% |
| Investment in fixed assets (approximation) | - | -€27,847 | -€44,837 | -€153,304 | -€69,617 | -€23,633 | -€2,185 | €3,652 | - |
| Change in cash | - | €19,913 | €33,951 | €53,769 | -€13,656 | -€15,577 | €24,590 | -€19,239 | - |
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, 1,325 companies had the same profile as ITLICIOUS has now. Two years later, 95.2% were still going and 1.4% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
95.2%
was still going
3.2%
stopped otherwise
1.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ITLICIOUS itself: 0.3% 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 1,325 companies, not a prediction for ITLICIOUS. 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 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 08-05-2026 | 2026-00106516 | |
| 31-12-2024 | micro format | 22-05-2025 | 2025-00105418 | |
| 31-12-2023 | micro format | 31-07-2024 | 2024-00308663 | |
| 31-12-2022 | micro format | 24-07-2023 | 2023-00262859 | |
| 31-12-2021 | micro format | 19-07-2022 | 2022-20199348 | |
| 31-12-2020 | micro format | 25-06-2021 | 2021-25400195 | |
| 31-12-2019 | micro format | 03-07-2020 | 2020-25700439 | |
| 31-12-2018 | micro format | 05-07-2019 | 2019-29800195 | |
| 31-12-2017 | micro format | 10-07-2018 | 2018-31400039 | |
| 31-12-2016 | micro format | 14-07-2017 | 2017-31700229 |