ITRA
ActiveSummary
ITRA has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €350,062 and a net result of €41,968. Equity remains stable across the filed fiscal years (±0.4% per year). Its solvency ranks better than 35% of 144 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2026
Axes · tick = 2025
Profitability73▼-9
Solvency55▼-3
Growth58=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €23,000 at 30 days acceptable
Liquidity ample (current ratio 1.93 against 2.31 in 2025; short-term debt: 48.3% and cash: 8.7% of total assets), but 69.8% of the assets are financed with debt.
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Signals
Five 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 dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2026Solvency, return and age of the figures
Solvency
30.2%
Return on assets
3.6%
Age of the figures
6 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Growing equity
Reported equity is higher than in 2024 and did not fall compared with 2025. These amounts do not establish the cause of the change.
NBB · annual accounts 2026Equity per financial year
18192223242526
2018 to 2026 · latest year €350,062
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 22-09-2026, 39 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
39 d early
2025
39 d early
2024
9 d early
2023
19 d early
2022
28 d early
2020
53 d early
2019
48 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 34 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-03-2027 close31-10-2027 deadline
History
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Financials · fiscal year 2026, abbreviated schema
Equity
€350,062▲ 13.6%
2025 · €308,094
Total assets
€1.2m▲ 24.8%
2025 · €928,668
Net result
€41,968▼ 57.8%
2025 · €99,377
Working capital
€517,557▲ 4.9%
2025 · €493,328
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20222023202420252026
Operating result-€231,382-€50,185€16,934▼ 66.3%€99,184▲ 486%€58,662▼ 40.9%
Net result-€238,817-€58,300€9,918▼ 83.0%€99,377▲ 902%€41,968▼ 57.8%
Equity€140,498-€198,798▲ 41.5%€208,717▲ 5.0%€308,094▲ 47.6%€350,062▲ 13.6%
Total assets€771,690-€816,002▲ 5.7%€743,177▼ 8.9%€928,668▲ 25.0%€1.2m▲ 24.8%
Debt€631,192-€617,204▼ 2.2%€534,460▼ 13.4%€620,574▲ 16.1%€808,541▲ 30.3%
Working capital€269,543-€493,724▲ 83.2%€276,403▼ 44.0%€493,328▲ 78.5%€517,557▲ 4.9%
Staff (FTE)6.4-5.2▼ 18.8%4.3▼ 17.3%4.6▲ 7.0%5.3▲ 15.2%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2026; 2026 is 41% below 2025.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €1.2m
Fixed assets
€81,955 ▲ 41.1%
Current assets
€1.1m ▲ 23.7%
Equity and liabilities €1.2m
Equity
€350,062 ▲ 13.6%
Debt
€808,541 ▲ 30.3%
Debt's share of the balance-sheet total rises from 66.8% to 69.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€88,141▼
2025 · €128,823
Cash flow
€71,446▼
2025 · €129,017
Current ratio
1.93▼
2025 · 2.31
Quick ratio
0.98▼
2025 · 1.25
Debt to equity
2.31▲
2025 · 2.01
ROE
12.0%▼
2025 · 32.3%
ROA
3.6%▼
2025 · 10.7%
Interest coverage
5.93▼
2025 · 10.10
Debt ≤ 1 year
€559,092▲
2025 · €377,260
Debt > 1 year
€249,450▲
2025 · €243,314
Income taxes
€9,823▲
2025 · €794
Staff costs
€444,247▲
2025 · €398,019
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 16,986 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
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%.
| 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 16,986 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
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €633,110 | €401,099 | €362,164 | €398,019 | €444,247 | ▲ 11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,178 | €23,177 | €26,769 | €29,639 | €29,478 | ▼ 0.5% |
| Other operating charges640/8 | €4,521 | €3,731 | €2,753 | €11,231 | €2,606 | ▼ 76.8% |
| Gross operating margin9900 | €423,428 | €478,192 | €408,620 | €538,073 | €534,993 | ▼ 0.6% |
| Operating profit (loss)9901 | -€231,382 | €50,185 | €16,934 | €99,184 | €58,662 | ▼ 40.9% |
| Financial income75/76B | €18,926 | €15,168 | €5,178 | €13,749 | €7,988 | ▼ 41.9% |
| Recurring financial income75 | €18,926 | €15,168 | €5,178 | €13,749 | €7,988 | ▼ 41.9% |
| Financial charges65/66B | €26,536 | €6,153 | €11,345 | €12,761 | €14,859 | ▲ 16.4% |
| Recurring financial charges65 | €9,803 | €6,153 | €11,345 | €12,761 | €14,859 | ▲ 16.4% |
| Non-recurring financial charges66B | €16,733 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€238,991 | €59,200 | €10,766 | €100,171 | €51,791 | ▼ 48.3% |
| Transfer from deferred taxes780 | €8 | - | - | - | - | - |
| Income taxes67/77 | -€167 | €900 | €848 | €794 | €9,823 | ▲ 1,137% |
| Profit (loss) for the period9904 | -€238,817 | €58,300 | €9,918 | €99,377 | €41,968 | ▼ 57.8% |
| Profit (loss) for the period to be appropriated9905 | -€238,817 | €58,300 | €9,918 | €99,377 | €41,968 | ▼ 57.8% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €771,690 | €816,002 | €743,177 | €928,668 | €1.2m | ▲ 24.8% |
| Fixed assets21/28 | €36,121 | €63,560 | €83,741 | €58,081 | €81,955 | ▲ 41.1% |
| Intangible fixed assets21 | - | - | - | €5,049 | €2,719 | ▼ 46.1% |
| Tangible fixed assets22/27 | €35,900 | €59,338 | €73,369 | €39,930 | €66,318 | ▲ 66.1% |
| Plant, machinery and equipment23 | €10,093 | €12,430 | €6,106 | €6,695 | €4,194 | ▼ 37.4% |
| Furniture and vehicles24 | €25,806 | €46,908 | €45,841 | €16,322 | €49,721 | ▲ 205% |
| Other tangible fixed assets26 | - | - | €21,423 | €16,913 | €12,403 | ▼ 26.7% |
| Financial fixed assets28 | €222 | €4,222 | €10,372 | €13,102 | €12,918 | ▼ 1.4% |
| Current assets29/58 | €735,569 | €752,443 | €659,436 | €870,588 | €1.1m | ▲ 23.7% |
| Stocks and contracts in progress3 | €400,258 | €378,103 | €407,264 | €400,363 | €529,917 | ▲ 32.4% |
| Stocks30/36 | €333,708 | €345,398 | €345,864 | €386,994 | €349,303 | ▼ 9.7% |
| Contracts in progress37 | €66,550 | €32,705 | €61,400 | €13,369 | €180,614 | ▲ 1,251% |
| Amounts receivable within one year40/41 | €259,612 | €283,288 | €188,126 | €307,647 | €440,611 | ▲ 43.2% |
| Trade receivables40 | €220,612 | €283,288 | €175,730 | €300,549 | €423,682 | ▲ 41.0% |
| Other amounts receivable41 | €39,000 | - | €12,396 | €7,098 | €16,929 | ▲ 139% |
| Current investments50/53 | - | - | - | - | €0 | - |
| Cash at bank and in hand54/58 | €73,279 | €77,332 | €60,846 | €162,578 | €101,090 | ▼ 37.8% |
| Deferred charges and accrued income490/1 | €2,420 | €13,720 | €3,200 | - | €5,031 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €771,690 | €816,002 | €743,177 | €928,668 | €1.2m | ▲ 24.8% |
| Equity10/15 | €140,498 | €198,798 | €208,717 | €308,094 | €350,062 | ▲ 13.6% |
| Contributions10/11 | €34,573 | €34,573 | €34,573 | €34,573 | €34,573 | = |
| Capital10 | €34,573 | €34,573 | €34,573 | - | - | - |
| Issued capital100 | €34,573 | €34,573 | €34,573 | - | - | - |
| Reserves13 | €344,457 | €344,457 | €344,457 | €344,457 | €344,457 | = |
| Distributable reserves133 | €344,457 | €344,457 | €344,457 | €344,457 | €344,457 | = |
| Profit (loss) carried forward14 | -€238,532 | -€180,232 | -€170,313 | -€70,936 | -€28,968 | ▲ 59.2% |
| Amounts payable17/49 | €631,192 | €617,204 | €534,460 | €620,574 | €808,541 | ▲ 30.3% |
| Amounts payable after more than one year17 | €165,167 | €358,485 | €151,427 | €243,314 | €249,450 | ▲ 2.5% |
| Financial debts170/4 | €165,167 | €358,485 | €151,427 | €243,314 | €249,450 | ▲ 2.5% |
| Amounts payable within one year42/48 | €466,026 | €258,719 | €383,033 | €377,260 | €559,092 | ▲ 48.2% |
| Current portion of amounts payable after more than one year42 | €256,309 | €31,681 | €32,058 | €59,005 | €76,440 | ▲ 29.5% |
| Financial debts43 | - | - | - | - | €0 | - |
| Credit institutions430/8 | - | - | - | - | €0 | - |
| Trade debts44 | €127,283 | €59,059 | €283,492 | €265,209 | €270,581 | ▲ 2.0% |
| Suppliers440/4 | €127,283 | €59,059 | €283,492 | €265,209 | €270,581 | ▲ 2.0% |
| Advances received on contracts in progress46 | - | €38,700 | €35,000 | - | €177,347 | - |
| Taxes, remuneration and social security45 | €81,184 | €59,921 | €32,407 | €53,045 | €34,724 | ▼ 34.5% |
| Taxes450/3 | €5,779 | €11,282 | €5,423 | €11,041 | €13,936 | ▲ 26.2% |
| Remuneration and social security454/9 | €75,405 | €48,639 | €26,984 | €42,004 | €20,788 | ▼ 50.5% |
| Other amounts payable47/48 | €1,250 | €69,358 | €75 | - | €0 | - |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€238,817 | €58,300 | €9,918 | €99,377 | €41,968 | ▼ 57.8% |
| + Depreciation and write-downs630 | €17,178 | €23,177 | €26,769 | €29,639 | €29,478 | ▼ 0.5% |
| Operating cash flow (approximation) | -€221,639 | €81,478 | €36,687 | €129,017 | €71,446 | ▼ 44.6% |
| Investment in fixed assets (approximation) | - | -€50,616 | -€46,950 | -€3,979 | -€53,353 | ▼ 1,241% |
| Change in cash | - | €4,052 | -€16,486 | €101,732 | -€61,489 | ▼ 160% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2027, expected by
2026
22-09
NBB filing
Annual accounts filed
fiscal year 2026 · abbreviated schema
2025
22-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-03
Financial
Highest result since 2018net €99,377 ▲902%
Operating result €99,184, net result €99,377, both a record.
2024
22-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
31-03
Financial
Equity above €200,000Eq €208,717 ▲5%
2 profitable years in a row build equity to €208,717.
2023
12-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
31-03
Financial
Back to profitnet €58,300
Net result €58,300 after one loss-making year.
31-03
Financial
Equity above €150,000Eq €198,798 ▲41.5%
Equity rises from €140,498 to €198,798.
2022
03-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
31-03
Financial
Weakest financial yearnet -€238,817
Net result drops to -€238,817, the lowest in the series; recovery starts the following year.
2021
08-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
13-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
08-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
08-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
04-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
10 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, Erpe-Mere · 1 establishment unit since 1993
Ground area
2,226 m²
Building footprint
1,198 m²
Volume, LiDAR
16 m³
Parcel 41016D0935/00P000, Flanders · tallest building 1.2 m. Linked by address, not a title deed.
1 establishment unit
Evenbroekveld 40, 9420 Erpe-Mere
since 19932.063.605.219
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41016D0935/00P000 | Flanders | 2,226 m² | 1 · 1,198 m² | 1.2 m |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel 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 ownerOwners 1
- MIGBparentSourceaccounts MIGB 2025100%
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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 23,760 EUR awarded · 23,760 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | -1,240 EUR | 11,260 EUR |
| 2022 | 1 | 25,000 EUR | 12,500 EUR |
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G.S. INTERNATIONAL
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Of 2,503 companies in sector 46649 we hold annual accounts for 1,756. 1,374 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
Founded03-09-1993
Fiscal year end31-03
Activities, NACEBEL 2025
46649Wholesale of other machinery and equipment
25401Forging of metal
E-invoicing
Reachable via Peppol
Peppol ID
0208:0450702382
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.