ITRD
ActiveSummary
ITRD has been active since 2021 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3,030 and a net result of €1,046. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 10% of 21,149 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 28-10-2021 Normal situation
- Registered office
- 126 active companies are registered at this address 12 started in the 12 months before. Source: KBO register, as of 3 November 2026.
- Activity
- Computer programming NACE 62100and 10 others
- Establishment unit
- 2.324.774.155 1050 Brussel, since 28-10-2021
- Financial year end
- 31 December
- Peppol
- Reachable since 17-01-2025
Board and ownership
Board
- VAN RUYSEVELT MACEODirector · since 28-10-2021
- VAN RUYSEVELT YANNIKDirector · since 28-10-2021
- Holdings
- Shares in 1 company NOVAD
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.6%
Annual accounts 2025
- Gross margin
- €87,224
- ▼ 38.0%
- Turnover
- ≈ €200,000
- estimated
- Profit
- €1,046
- ▼ 96.1%
- Equity
- €3,030
- ▲ 52.7%
- Total assets
- €138,411
- ▲ 15.3%
- Employees on 31-12-2025
- 2
- ▼ 50.0%
- 2025 accounts filed 1 day after the deadline
Score breakdownraises riskLiquidity: current ratio 0.97, cash €1,702, halvedLast filed accounts filed 1 day late; 2 of the last 3 accounts latelowers riskSector: Computer programming, consultancy and related activities (NACE 62)Size: total assets €138,411Show the evidence
Checked score
Score 2025
69
/ 100
Healthy
Probability in this band: 0.55% to 1.5%
Financially stronger than 28% of micro companies in computer programming and consultancy (NACE 62)
Financial strength · tick: 2024
Weak
Solvency
27=
equity 2.2% of total assets
Liquidity
3-22
short-term debt 87.0% · cash 1.2%
Profitability
36-61
return on assets 0.8%
Bankruptcy probability within 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 2.2%
01-2025: 2.2%● unchanged vs 12-2024
02-2025: 2.2%● unchanged vs 01-2025
03-2025: 2.1%▼ -0.1 percentage points vs 02-2025
04-2025: 2.1%● unchanged vs 03-2025
05-2025: 2.0%▼ -0.1 percentage points vs 04-2025
06-2025: 2.0%● unchanged vs 05-2025
07-2025: 1.8%▼ -0.2 percentage points vs 06-2025
08-2025: 2.4%▲ +0.6 percentage points vs 07-2025
09-2025: 2.8%▲ +0.4 percentage points vs 08-2025highest value
10-2025: 0.8%▼ -2.0 percentage points vs 09-2025
11-2025: 0.8%● unchanged vs 10-2025
12-2025: 0.8%● unchanged vs 11-2025
01-2026: 0.8%● unchanged vs 12-2025
02-2026: 0.8%● unchanged vs 01-2026
03-2026: 0.8%● unchanged vs 02-2026
04-2026: 0.9%▲ +0.1 percentage points vs 03-2026
05-2026: 0.9%● unchanged vs 04-2026
06-2026: 0.3%▼ -0.6 percentage points vs 05-2026lowest value
07-2026: 0.3%● unchanged vs 06-2026lowest value
08-2026: 0.5%▲ +0.2 percentage points vs 07-2026
09-2026: 0.6%▲ +0.1 percentage points vs 08-2026
10-2026: 0.6%● unchanged vs 09-2026
11-2026: 0.6%● unchanged vs 10-2026
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, micro). It does better than 10% of them on solvency, 2% on liquidity, 17% on profitability and 80% on growth.
The bankruptcy probability was computed on 03-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 21149 sector peers (2025).
NBB · sector comparisonPosition among 21149 sector peers
Solvency
better than 10%
← weakest
strongest →
raises risk · 2025 accounts filed 1 day late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-08-2026, 1 day later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 4 filingsDeviation from the deadline
2025
1 day late
2024
31 days late
2023
31 days late
2022
30 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 23 days after the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 31 August (4 of the last 4 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
04-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 1 day after the deadline Filed on 1 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00378962.
Annual accounts 2025 filed on 01-08-2026 at the NBB all 4 filings
Turnover
≈ €200,000
Estimated: probably between €170,000 and €260,000
Total assets
€138,411▲ 15.3%
2024 · €119,997
Net result
€1,046▼ 96.1%
2024 · €26,899
Working capital
-€4,119▲ 78.6%
2024 · -€19,270
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
€6,279
▼ 79.8%
2025
20222025
Net result
€1,046
▼ 96.1%
2025
lowest quarter of the sector
20222025
Equity
€3,030
▲ 52.7%
2025
lowest quarter of the sector
20222025
Total assets
€138,411
▲ 15.3%
2025
middle half of the sector
20222025
Debt
€135,381
▲ 14.7%
2025
20222025
Working capital
-€4,119
▲ 78.6%
2025
lowest quarter of the sector
20222025
Solvency
2.2%
▲ 0.5pp
2025
lowest quarter of the sector
20222025
Current ratio
0.97
▲ 0.17
2025
lowest quarter of the sector
20222025
Return on assets (ROA)
0.8%
▼ 21.7pp
2025
lowest quarter of the sector
20222025
Staff (FTE)
2.4
▼ 20.0%
2025
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€11,919--€22,964€31,147€6,279▼ 79.8%
Net result€7,509within the sector's middle half--€37,423below the sector's middle half€26,899within the sector's middle half€1,046below the sector's middle half▼ 96.1%
Equity€12,509below the sector's middle half--€24,915below the sector's middle half€1,984below the sector's middle half€3,030below the sector's middle half▲ 52.7%
Total assets€59,969below the sector's middle half-€77,599within the sector's middle half▲ 29.4%€119,997within the sector's middle half▲ 54.6%€138,411within the sector's middle half▲ 15.3%
Debt€47,461-€102,513▲ 116%€118,013▲ 15.1%€135,381▲ 14.7%
Working capital-€936below the sector's middle half--€40,808below the sector's middle half▼ 4,258%-€19,270below the sector's middle half▲ 52.8%-€4,119below the sector's middle half▲ 78.6%
Solvency20.9%below the sector's middle half--32.1%below the sector's middle half▼ 53.0pp1.7%below the sector's middle half▲ 33.8pp2.2%below the sector's middle half▲ 0.5pp
Current ratio0.98below the sector's middle half-0.44below the sector's middle half▼ 0.530.79below the sector's middle half▲ 0.350.97below the sector's middle half▲ 0.17
Return on assets (ROA)12.5%within the sector's middle half--48.2%below the sector's middle half▼ 60.7pp22.4%within the sector's middle half▲ 70.6pp0.8%below the sector's middle half▼ 21.7pp
Staff (FTE)2.7-1.4▼ 48.1%3▲ 114%2.4▼ 20.0%
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 80% lower than 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 €138,411
Fixed assets
€22,070 ▼ 53.2%
Current assets
€116,342 ▲ 59.7%
Equity and liabilities €138,411
Equity
€3,030 ▲ 52.7%
Debt
€135,381 ▲ 14.7%
Debt's share of the balance-sheet total falls from 98.3% to 97.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€11,094▼
2024 · €46,980
Cash flow
€5,861▼
2024 · €42,732
Debt to equity
44.68▼
2024 · 59.47
ROE
34.5%
Interest coverage
1.90▼
2024 · 13.41
Debt ≤ 1 year
€120,460▲
2024 · €92,139
Debt > 1 year
€7,385▼
2024 · €24,140
Income taxes
-€373▼
2024 · €815
Staff costs
€75,160▼
2024 · €90,328
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 3 | 4 | 2 |
| full-time | 0 | 2 | 2 | 2 |
| part-time | 1 | 1 | 2 | - |
| in full-time equivalents | 0.4 | 2.5 | - | 2 |
| Average over the year, in full-time equivalents | 1 | 1.4 | 3 | 2.4 |
| On a permanent contract | - | 2 | 3 | 1 |
| Joined | 7 | 7 | 5 | 3 |
| Left | 10 | 5 | 4 | 5 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €6,692 | €84,346 | €10,442 | €1,744 |
| Financial fixed assets | €14,600 | - | €7,540 | - |
| Depreciation and write-downs of the year | €1,234 | €4,546 | €15,833 | €4,815 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €16,526 | €36,420 | €90,328 | €75,160 | ▼ 16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,234 | €4,546 | €15,833 | €4,815 | ▼ 69.6% |
| Other operating charges640/8 | €1,518 | €4,706 | €3,369 | €970 | ▼ 71.2% |
| Gross operating margin9900 | €31,198 | €22,707 | €140,677 | €87,224 | ▼ 38.0% |
| Operating profit (loss)9901 | €11,919 | -€22,964 | €31,147 | €6,279 | ▼ 79.8% |
| Financial income75/76B | €0 | €43,334 | €70 | €223 | ▲ 220% |
| Recurring financial income75 | €0 | €24 | €70 | €223 | ▲ 220% |
| Non-recurring financial income76B | - | €43,310 | - | - | - |
| Financial charges65/66B | €984 | €57,443 | €3,502 | €5,829 | ▲ 66.4% |
| Recurring financial charges65 | €984 | €3,057 | €3,502 | €5,829 | ▲ 66.4% |
| Non-recurring financial charges66B | - | €54,386 | - | - | - |
| Profit (loss) for the period before taxes9903 | €10,936 | -€37,073 | €27,714 | €673 | ▼ 97.6% |
| Income taxes67/77 | €3,427 | €350 | €815 | -€373 | - |
| Profit (loss) for the period9904 | €7,509 | -€37,423 | €26,899 | €1,046 | ▼ 96.1% |
| Profit (loss) for the period to be appropriated9905 | €7,509 | -€37,423 | €26,899 | €1,046 | ▼ 96.1% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €59,969 | €77,599 | €119,997 | €138,411 | ▲ 15.3% |
| Fixed assets21/28 | €20,058 | €44,979 | €47,128 | €22,070 | ▼ 53.2% |
| Tangible fixed assets22/27 | €5,458 | €44,879 | €39,488 | €14,430 | ▼ 63.5% |
| Plant, machinery and equipment23 | - | - | €7,096 | €6,346 | ▼ 10.6% |
| Furniture and vehicles24 | €5,458 | €42,062 | €29,574 | €8,083 | ▼ 72.7% |
| Assets under construction and advance payments27 | - | €2,818 | €2,818 | - | - |
| Financial fixed assets28 | €14,600 | €100 | €7,640 | €7,640 | = |
| Current assets29/58 | €39,911 | €32,619 | €72,869 | €116,342 | ▲ 59.7% |
| Amounts receivable within one year40/41 | €37,000 | €20,736 | €50,739 | €84,101 | ▲ 65.8% |
| Trade receivables40 | €36,921 | €19,750 | €49,308 | €81,882 | ▲ 66.1% |
| Other amounts receivable41 | €79 | €986 | €1,431 | €2,219 | ▲ 55.1% |
| Cash at bank and in hand54/58 | €1,825 | €8,005 | €15,789 | €1,702 | ▼ 89.2% |
| Deferred charges and accrued income490/1 | €1,086 | €3,879 | €6,341 | €30,539 | ▲ 382% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €59,969 | €77,599 | €119,997 | €138,411 | ▲ 15.3% |
| Equity10/15 | €12,509 | -€24,915 | €1,984 | €3,030 | ▲ 52.7% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | €7,509 | -€29,915 | -€3,016 | -€1,970 | ▲ 34.7% |
| Amounts payable17/49 | €47,461 | €102,513 | €118,013 | €135,381 | ▲ 14.7% |
| Amounts payable after more than one year17 | €6,613 | €25,733 | €24,140 | €7,385 | ▼ 69.4% |
| Financial debts170/4 | €6,613 | €25,733 | €14,255 | - | - |
| Other amounts payable178/9 | - | - | €9,885 | €7,385 | ▼ 25.3% |
| Amounts payable within one year42/48 | €40,848 | €73,427 | €92,139 | €120,460 | ▲ 30.7% |
| Current portion of amounts payable after more than one year42 | €2,408 | €10,986 | €11,523 | €1,544 | ▼ 86.6% |
| Financial debts43 | - | - | €5,035 | €1,066 | ▼ 78.8% |
| Credit institutions430/8 | - | - | - | €12 | - |
| Other loans439 | - | - | €5,035 | €1,054 | ▼ 79.1% |
| Trade debts44 | €18,171 | €26,688 | €15,522 | €26,224 | ▲ 68.9% |
| Suppliers440/4 | €18,171 | €26,688 | €15,522 | €26,224 | ▲ 68.9% |
| Taxes, remuneration and social security45 | €18,157 | €23,101 | €42,186 | €60,979 | ▲ 44.5% |
| Taxes450/3 | €13,811 | €9,612 | €21,269 | €39,045 | ▲ 83.6% |
| Remuneration and social security454/9 | €4,346 | €13,488 | €20,917 | €21,933 | ▲ 4.9% |
| Other amounts payable47/48 | €2,112 | €12,652 | €17,872 | €30,647 | ▲ 71.5% |
| Accrued charges and deferred income492/3 | €0 | €3,354 | €1,733 | €7,536 | ▲ 335% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,509 | -€37,423 | €26,899 | €1,046 | ▼ 96.1% |
| + Depreciation and write-downs630 | €1,234 | €4,546 | €15,833 | €4,815 | ▼ 69.6% |
| Operating cash flow (approximation) | €8,743 | -€32,877 | €42,732 | €5,861 | ▼ 86.3% |
| Investment in fixed assets (approximation) | - | -€29,467 | -€17,982 | €20,243 | - |
| Change in cash | - | €6,179 | €7,784 | -€14,088 | - |
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, 1,251 companies had the same profile as ITRD has now. Two years later, 94.4% were still going and 2.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
94.4%
was still going
2.7%
stopped otherwise
2.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ITRD itself: 0.6% 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 1,251 companies, not a prediction for ITRD. 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.
Board & ownership
Directors
Directors
2 directors
VAN RUYSEVELT MACEO
Current
VAN RUYSEVELT YANNIK
Current
Owners and capital
Owners
Mandate history
2 people, 2 in office
- Board
| Name | Functions and periods |
|---|---|
| VAN RUYSEVELT MACEO |
|
| VAN RUYSEVELT YANNIK |
|
Network & group
Holdings and subsidiaries
1 holdingHoldings 1
- Sourceown accounts 2022Equity -€97,970 Loss of €9,456 in 2025 (loss of €6,283 in 2024) Checked score 3150%
Connections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
DBZ Boxing
Shared director
→
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
01-08
micro format · 1 day late
2025
31-08
micro format · 31 days late
2024
31-12
Financial
Back to profitnet €26,899
The net result is €26,899, after one loss-making year.
31-08
micro format · 31 days late
13-05
Gazette deed
Registered office moved from Ixelles to AuderghemNew seat: Avenue Herrmann-Debroux, 40-42 à 1160 Auderghem · Previous seat: Avenue Louise, 65/11 à 1050 IXELLES · Director in office4 points ▸
Gazette deed
Registered office moved from Ixelles to Auderghem
New seat: Avenue Herrmann-Debroux, 40-42 à 1160 Auderghem · Previous seat: Avenue Louise, 65/11 à 1050 IXELLES · Director in office4 points ▸
- General meeting, 01-05-2024
- Registered-office move, Avenue Herrmann-Debroux, 40-42 à 1160 Auderghem
- Director in office, Maceo Van Ruysevelt (administrateur/associe)
- Other provision, “validité de la délibération, tous les membres sont présents ou représentés” (deed in French)
2023
31-12
Financial
Weakest financial yearnet -€37,423
The net result drops to -€37,423, the lowest from 2022 to 2025. It recovers the following year.
30-08
micro format · 30 days late
2021
03-11
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
ITRD in French
Enterprise number
0776.608.724
Legal form
Private limited company
Status
Active, normale toestand
Founded
28-10-2021
Entity type
Legal entity
Registered office and establishments
Registered office
Herrmann-Debrouxlaan 40-42, 1160 Oudergem, Belgium
1 former office
- Avenue Louise, 65/11, 1050 Ixelles until 01-05-2024 · act of 13-05-2024
Establishment unit
Louizalaan 65, 1050 Brussel since 28-10-2021 · unit number 2.324.774.155
E-mail
office@itrd.beBrussel
Activities
NACEBEL 2025VAT activities
62100
Computer programming main activity
18130
Pre-press and pre-media services
46190
Agents in non-specialised wholesale trade
59113
Video and film production, excluding cinema and television films
60310
News agency activities
70200
Business and other management consultancy
73300
Public relations and communication consultancy
74120
Graphic design and visual communication
74202
Other professional, scientific and technical activities
82300
Organisation of conventions and trade shows
Social security (RSZ) activities
73110
Advertising agencies main activity
Codes under NACEBEL 2008
VAT activities
62010
Computer programming, consultancy and related activities main activity
18130
Pre-press and pre-media services
46190
Wholesale trade
59113
Motion picture, video and television programme production, sound recording and music publishing activities
63910
Computing infrastructure, data processing, hosting and other information service activities
70210
Activities of head offices; management consultancy activities
70220
Business consulting
74103
Other professional, scientific and technical activities
74202
Other professional, scientific and technical activities
82300
Organisation of conventions and trade shows
Social security (RSZ) activities
73110
Advertising, market research and public relations activities main activity
Invoicing and payment
VAT number
BE 0776.608.724
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Buildings and parcels at the addresses
Ground area
6,875 m²
Building footprint
4,852 m²
Building volume
103,422 m³
Tallest building: 35.6 m.
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21332B0424/00D008 | Brussels | 5,192 m² | 1 · 2,419 m² | 27.6 m · 7 |
| 21807G0007/00R000 | Brussels | 1,683 m² | 1 · 2,433 m² | 35.6 m · 9 |