ITREFLEX
ActiveSummary
ITREFLEX has been active since 2003 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €371,760 and a net result of €125,344. Equity is growing by about 40% per year across the filed financial years. Its solvency ranks better than 35% of 21,059 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
- Staff
- 2.1 FTE
- Equity
- €371,760
- Profit
- €125,344
- Cédric VANRAFELGHEMDirector
- Patrick VANRAFELGHEMDirector
Why 90raises risk2 of the last 3 late2 establishment unitslowers riskSize: total assets €878,332Sector: Computer programming, consultancy and related activities (NACE 62)Show the evidence
Checked score
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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): better than 37% on solvency, 31% on liquidity, 49% on profitability and 33% on growth.
The bankruptcy probability was computed on 22-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 40 days after the deadline; the sector median (NACE 62) for financial year 2024 is 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Highest result from 2018 to 2025net €125,344 ▲0.9%
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result falls in 2025; 2025 is 2% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 62, Computer programming, consultancy and related activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Peer companies
Historical observationOf the 31,372 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93.5% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,473 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 31,372 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €11,000 | - | €36,450 | €21,089 | €30,540 | ▲ 44.8% |
| Remuneration, social security and pensions62 | - | - | - | €125,626 | €132,192 | €141,476 | €141,661 | €141,437 | ▼ 0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €66,716 | €59,359 | €59,171 | €101,320 | €78,706 | €84,315 | €81,617 | €89,400 | ▲ 9.5% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €16,945 | -€16,945 | €0 | - | - |
| Other operating charges640/8 | - | - | - | €3,910 | €4,483 | €5,046 | €5,109 | €5,319 | ▲ 4.1% |
| Non-recurring operating charges66A | - | - | - | - | - | €9,945 | €0 | - | - |
| Gross operating margin9900 | €167,428 | €172,139 | €233,382 | €252,154 | €338,037 | €365,574 | €421,429 | €424,493 | ▲ 0.7% |
| Operating profit (loss)9901 | €8,879 | €23,232 | €104,090 | €21,298 | €105,711 | €141,737 | €193,041 | €188,337 | ▼ 2.4% |
| Financial income75/76B | - | - | - | €6 | €159 | €0 | €667 | €1,427 | ▲ 114% |
| Recurring financial income75 | €11 | €1,021 | €1 | €6 | €159 | €0 | €667 | €1,427 | ▲ 114% |
| Financial charges65/66B | - | - | - | €9,901 | €10,052 | €11,997 | €8,961 | €8,778 | ▼ 2.0% |
| Recurring financial charges65 | €10,146 | €10,326 | €9,578 | €9,901 | €10,052 | €11,997 | €8,961 | €8,778 | ▼ 2.0% |
| Profit (loss) for the period before taxes9903 | -€1,256 | €13,926 | €94,513 | €11,404 | €95,818 | €129,741 | €184,747 | €180,986 | ▼ 2.0% |
| Transfer from deferred taxes780 | - | - | - | €887 | €972 | €972 | €1,867 | €1,926 | ▲ 3.1% |
| Transfer to deferred taxes680 | - | - | - | €2,200 | - | €7,290 | €0 | - | - |
| Income taxes67/77 | €3,671 | €7,992 | €29,464 | €1,349 | €31,680 | €28,306 | €62,366 | €57,567 | ▼ 7.7% |
| Profit (loss) for the period9904 | -€4,169 | €6,634 | €65,688 | €8,741 | €65,110 | €95,116 | €124,247 | €125,344 | ▲ 0.9% |
| Transfer from tax-exempt reserves789 | - | - | - | €3,546 | €3,888 | €3,888 | €7,467 | €7,702 | ▲ 3.1% |
| Transfer to tax-exempt reserves689 | - | - | - | €8,800 | - | €29,160 | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | -€1,465 | €9,054 | €68,245 | €3,488 | €68,998 | €69,844 | €131,715 | €133,047 | ▲ 1.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €459,157 | €415,049 | €566,451 | €824,838 | €969,826 | €866,056 | €859,190 | €878,332 | ▲ 2.2% |
| Fixed assets21/28 | €370,460 | €313,483 | €334,795 | €584,425 | €619,713 | €570,854 | €555,162 | €633,426 | ▲ 14.1% |
| Tangible fixed assets22/27 | €370,435 | €313,458 | €334,770 | €584,400 | €619,688 | €570,829 | €555,137 | €633,401 | ▲ 14.1% |
| Land and buildings22 | - | - | - | €411,863 | €396,212 | €384,070 | €362,827 | €337,948 | ▼ 6.9% |
| Plant, machinery and equipment23 | - | - | - | €8,589 | €26,922 | €25,512 | €27,011 | €18,070 | ▼ 33.1% |
| Furniture and vehicles24 | - | - | - | €163,949 | €196,554 | €161,247 | €165,298 | €277,383 | ▲ 67.8% |
| Financial fixed assets28 | €25 | €25 | €25 | €25 | €25 | €25 | €25 | €25 | = |
| Current assets29/58 | €88,698 | €101,566 | €231,656 | €240,412 | €350,114 | €295,203 | €304,028 | €244,906 | ▼ 19.4% |
| Stocks and contracts in progress3 | €36,866 | €34,307 | €31,955 | €86,542 | €147,708 | €102,500 | €119,844 | €129,965 | ▲ 8.4% |
| Stocks30/36 | - | - | - | €86,542 | €147,708 | €102,500 | €119,844 | €129,965 | ▲ 8.4% |
| Amounts receivable within one year40/41 | €49,829 | €23,796 | €62,287 | €87,977 | €132,822 | €36,880 | €30,336 | €22,308 | ▼ 26.5% |
| Trade receivables40 | - | - | - | €69,326 | €132,822 | €36,880 | €30,336 | €17,601 | ▼ 42.0% |
| Other amounts receivable41 | - | - | - | €18,651 | - | - | - | €4,707 | - |
| Cash at bank and in hand54/58 | €2,002 | €43,463 | €131,692 | €58,407 | €68,695 | €155,822 | €153,573 | €92,358 | ▼ 39.9% |
| Deferred charges and accrued income490/1 | - | - | - | €7,486 | €888 | - | €275 | €275 | = |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €459,157 | €415,049 | €566,451 | €824,838 | €969,826 | €866,056 | €859,190 | €878,332 | ▲ 2.2% |
| Equity10/15 | €52,411 | €59,045 | €124,733 | €133,474 | €198,584 | €281,902 | €398,146 | €371,760 | ▼ 6.6% |
| Contributions10/11 | €11,120 | €11,120 | - | €11,120 | €11,120 | €11,120 | €11,120 | €120 | ▼ 98.9% |
| Reserves13 | €42,756 | €47,925 | €113,613 | €122,354 | €187,464 | €270,782 | €387,026 | €371,640 | ▼ 4.0% |
| Non-distributable reserves130/1 | - | - | - | €1,005 | €1,005 | €415 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,005 | €1,005 | €415 | €0 | - | - |
| Tax-exempt reserves132 | - | - | - | €30,820 | €26,932 | €52,204 | €44,736 | €37,034 | ▼ 17.2% |
| Distributable reserves133 | - | - | - | €90,529 | €159,527 | €218,163 | €342,289 | €334,606 | ▼ 2.2% |
| Profit (loss) carried forward14 | -€1,465 | - | -€1,465 | - | - | - | €0 | €0 | - |
| Provisions and deferred taxes16 | €27,851 | €27,151 | €5,480 | €6,794 | €22,767 | €12,140 | €10,273 | €8,347 | ▼ 18.7% |
| Provisions for liabilities and charges160/5 | - | - | - | - | €16,945 | - | - | - | - |
| Other liabilities and charges164/5 | - | - | - | - | €16,945 | - | - | - | - |
| Deferred taxes168 | - | - | - | €6,794 | €5,822 | €12,140 | €10,273 | €8,347 | ▼ 18.7% |
| Amounts payable17/49 | €378,895 | €328,852 | €436,238 | €684,570 | €748,476 | €572,014 | €450,771 | €498,225 | ▲ 10.5% |
| Amounts payable after more than one year17 | €259,394 | €234,899 | €240,998 | €446,470 | €429,339 | €373,509 | €278,930 | €236,935 | ▼ 15.1% |
| Financial debts170/4 | - | - | - | €446,470 | €429,339 | €373,509 | €278,930 | €236,935 | ▼ 15.1% |
| Amounts payable within one year42/48 | €119,501 | €93,678 | €195,240 | €238,100 | €318,387 | €198,505 | €168,542 | €261,290 | ▲ 55.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €85,553 | €98,464 | €98,378 | €94,580 | €94,079 | ▼ 0.5% |
| Trade debts44 | €37,720 | €9,401 | €30,916 | €57,712 | €20,733 | €8,032 | €9,406 | €60,729 | ▲ 546% |
| Suppliers440/4 | - | - | - | €57,712 | €20,733 | €8,032 | €9,406 | €60,729 | ▲ 546% |
| Advances received on contracts in progress46 | - | - | - | - | €114,460 | €11,704 | €15,166 | €9,600 | ▼ 36.7% |
| Taxes, remuneration and social security45 | - | - | - | €54,927 | €59,625 | €44,700 | €41,382 | €27,591 | ▼ 33.3% |
| Taxes450/3 | - | - | - | €29,717 | €37,012 | €25,386 | €27,587 | €2,198 | ▼ 92.0% |
| Remuneration and social security454/9 | - | - | - | €25,210 | €22,613 | €19,314 | €13,795 | €25,392 | ▲ 84.1% |
| Other amounts payable47/48 | - | - | - | €39,908 | €25,104 | €35,690 | €8,008 | €69,292 | ▲ 765% |
| Accrued charges and deferred income492/3 | - | - | - | - | €750 | - | €3,300 | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,169 | €6,634 | €65,688 | €8,741 | €65,110 | €95,116 | €124,247 | €125,344 | ▲ 0.9% |
| + Depreciation and write-downs630 | €66,716 | €59,359 | €59,171 | €101,320 | €78,706 | €84,315 | €81,617 | €89,400 | ▲ 9.5% |
| Operating cash flow (approximation) | €62,547 | €65,993 | €124,859 | €110,061 | €143,816 | €179,431 | €205,865 | €214,745 | ▲ 4.3% |
| Investment in fixed assets (approximation) | - | -€2,382 | -€80,483 | -€350,950 | -€113,994 | -€35,455 | -€65,926 | -€167,664 | ▼ 154% |
| Change in cash | - | €41,461 | €88,229 | -€73,285 | €10,288 | €87,127 | -€2,249 | -€61,215 | ▼ 2,622% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 18 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 14-07-2026 | 2026-00288784 |
| 31-12-2024 | micro format | 26-09-2025 | 2025-00513591 |
| 31-12-2023 | abbreviated format | 09-10-2024 | 2024-00502647 |
| 31-12-2022 | micro format | 26-07-2023 | 2023-00275469 |
| 31-12-2021 | micro format | 09-08-2022 | 2022-20278245 |
| 31-12-2020 | micro format | 28-10-2021 | 2021-74500101 |
| 31-12-2019 | micro format | 13-10-2020 | 2020-61300308 |
| 31-12-2018 | micro format | 26-09-2019 | 2019-67600597 |
| 31-12-2017 | micro format | 27-09-2018 | 2018-66600117 |
| 31-12-2016 | micro format | 21-09-2017 | 2017-62100103 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Cédric VANRAFELGHEM |
|
| Patrick VANRAFELGHEM |
|
Owners and capital
Capital and shareholders
- 04-04-2024 Converted to unavailable equity
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
04-04
Gazette deed
Resignations: Cédric VANRAFELGHEM (manager) and Patrick VANRAFELGHEM (manager)Reappointments: Cédric VANRAFELGHEM (director) and Patrick VANRAFELGHEM (director) · Amendment of the articles · Capital conversion15 facts ▸
- General meeting, 22-03-2024
- Amendment of the articles (2 times)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “opheffen statutair onbeschikbare eigen vermogensrekening, middelen beschikbaar voor uitkering” (deed in Dutch)
- Transfer restriction, “invoeren voorkooprecht bij aandelenoverdracht”, 10 (deed in Dutch)
- Capital
- Other provision, “TITEL III.EFFECTEN, niet afgedrukt,aangeduid als(…)” (deed in Dutch)
- Other provision, “TITEL VIII.ALGEMENE MAATREGELEN, weggelaten” (deed in Dutch)
- Director resignation, Cédric VANRAFELGHEM (manager)
- Director reappointment, Cédric VANRAFELGHEM (director (not named in the articles))
- Director resignation, Patrick VANRAFELGHEM (manager)
- Director reappointment, Patrick VANRAFELGHEM (director (not named in the articles))
- +3 further facts in this act
Show earlier events
About the unread acts
Of the 3 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 23 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
2 establishment units
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 43503F0103/00S003 | Flanders | 5,778 m² | 1 · 3,344 m² | 17.9 m |
| 43503H0336/00L000 | Flanders | 2,878 m² | 1 · 145 m² | - |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Vervaardiging van: computers en randapparatuur,van automatische gegevensverwerkende machines,inclusief microcomputers en tekstverwerkende…” (deed in Dutch)
27 activities (deed in Dutch)
- Vervaardiging van: computers en randapparatuur,van automatische gegevensverwerkende machines,inclusief microcomputers en tekstverwerkende machines: centrale verwerkingseenheden,interfaces,consoles,digitale machines,analoge machines,
- Vervaardiging van: van randapparatuur: printers,terminals,enzovoort,magnetische en optische lezers,machines voor het omzetten van gegevens in gecodeerde vorm op gegevensdragers.
- De bekleding met aluminium van de binnenzijde van pc-kasten.
- Vervaardiging van: magnetische en optische media,van ongebruikte dragers voor het opnemen van geluid of beelden,van ongebruikte computerschijven -en banden.
- Groothandel in computers,randapparatuur,software en in andere kantoormachines en kantoorbenodigdheden.
- De kleinhandel in computers en standaardprogrammatuur.
- Uitgeverijen van computerspellen en van software.
- Ontwerpen en programmeren van computerprogramma's.
- Verlenen van advies over soorten computers(hardware)en hun configuratie en toepassing van bijbehorende programmatuur(software): analyseren van behoeften en problemen van gebruiker en het aanbieden De activiteiten van systeemintegrators.
- Overige diensten op het gebied van informatietechnologie en computer.
- Gegevensverwerking,webhosting en aanverwante activiteiten.Het al dan niet permanent verwerken van gegevens met behulp van een eigen programma of een programma van de klant: invoeren van gegevens - volledige verwerking van gegevens.
- Het permanent beheren van en werken met de gegevensverwerkende apparatuur van derden.
- Webportalen.
- Verhuur en operationele leasing van kantoormachines,inclusief computers,zonder bedieningspersoneel: computerapparatuur,duplicators,fotokopieermachines,schrijfmachines,tekstverwerkers,rekenmachines,telefoon.
- Verhuur van standaardprogrammatuur.
- Het onderhoud en de reparatie van computers en randapparatuur,van rekenmachines en overige kantoormachines.
- Het verzorgen en organiseren van opleidingen,ermee verband houdend.
- Het besturen,begeleiden en adviseren van ondernemingen en vennootschappen,evenals het waarnemen van het dagelijks bestuur van ondernemingen en vennootschappen.
- De samenstelling en het beheer van een onroerend vermogen en de huurfinanciering van onroerende goederen aan derden,het verwerven door aankoop of anderszins het verkopen,het ruilen,het bouwen,het verbouwen,het verbeteren,het uitrusten,het aanpassen,het verfraaien,het onderhouden,het verhuren,het huren,het leasen en het doorleasen,het verkavelen,het prospecteren en het uitbaten van onroerende goederen,alsmede handelingen die rechtstreeks of onrechtstreeks met dit voorwerp in verband staan en die van aard zijn de uitbreiding en de opbrengst van de onroerende goederen te bevorderen,alsmede zich borg te stellen voor het goede verloop van verbintenissen door derde personen aangegaan die het genot zouden hebben van deze onroerende goederen.
- Het beleggen,het beheren en uitbaten van roerende waarden en bezittingen,het financieren van investeringen,voor eigen rekening.
- Het nemen van participaties en deelnemingen onder welke vorm ook in andere vennootschappen of ondernemingen.
- Alle financiële verrichtingen onder de vorm van lening,kredietopening of andere wijze,met uitzondering van de financiële verrichtingen voorbehouden aan depositobanken en private spaarkassen en onder voorwaarde van het bekomen van de eventuele noodzakelijke machtigingen en aanvaardingen.
- De vennootschap kan alle onroerende en roerende materialen en installaties kopen,huren,verhuren,produceren,oprichten,verkopen en ruilen.
- Het verwerven,exploiteren en vervreemden van rechten van intellectuele en/of industriële eigendom,daaronder begrepen al dan niet gepatenteerde know-how en gedeponeerde modellen;
- Het verwerven en(door)leasen van bedrijfsmiddelen.
- Het verlenen en exploiteren van concessies en/of franchising als geïntegreerd onderdeel van globale dienstverlening aan derden met aanbieding van een totaalpakket aan diensten.
- Het optreden als tussenpersoon in de handel.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- ITREFLEX
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Met of zonder beperking van duur, Bestuursorgaan” (deed in Dutch)
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Vormen vereist voor statutenwijziging, ontbinding op elk moment” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Om welke reden en op welk ogenblik ook, recht AV één/meerdere vereffenaars aan te duiden,bevoegdheden te omlijnen,vergoeding te bepalen” (deed in Dutch)