Equity
ITS Plus paid out €353,647 in dividends. That is 164% of the 2025 profit.
ITS Plus paid out €353,647 in dividends. That is 164% of the 2025 profit.
Debts rose by €239,338 in 2025. A dividend stands under other debts on the balance sheet date until it is paid.
Green is investment, beige is depreciation.
In 2025, 12 people joined and 8 left.
Short-term debts rose from €131,605 to €325,156.
Higher net result than 89% of companies in retail trade. Sector median €27,404 · 12,850 companies.
The dashed line is the sector median: 0.6% across 40,277 companies (NACE 47, micro).
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 47, micro). It does better than 53% of them on solvency, 40% on liquidity, 96% on profitability and 13% on growth.
The bankruptcy probability was computed on 10-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
In July 2024, 26,972 companies had the same profile as ITS Plus has now. Each dot stands for 68 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ITS Plus itself: 0.5% within 12 months.
The method was tested on the 497,448 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 26,972 companies, not a prediction for ITS Plus. 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.
Liquidity is tight, with a current ratio of 1.42 (3.24 in 2024), below the usual 1.5. Short-term debt is 55% and cash 16.3% of total assets. 62.7% of the assets are financed with debt and provisions.
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.
The company filed its last 5 accounts on average 26 days before the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| ITS Plus Lokeren | €0.6m | €490,755 | 37.3% | 5.1 |
| JDV COMPUTERS Herzele | €0.7m | €226,842 | 19.6% | 4.5 |
| Opeak Antwerp | €1.1m | €445,255 | -525.8% | 4.1 |
| 4 Telecom Center Antwerp | €0.6m | €304,315 | 80.7% | 5.3 |
| Just Connect Waregem | €1.0m | €929,400 | 64.9% | 4.5 |
| PC Vision Turnhout | €0.9m | €284,273 | 33.8% | 3.4 |
| LESTERIUS Ghent | €0.4m | €614,081 | 38.8% | 7.5 |
These companies have the same main activity as ITS Plus: retail sale of information and communication equipment (NACE 47400). They are comparable in size and age: total assets between €392,000 and €1.1m, founded between 2018 and 2021.
ITS Plus files the abbreviated format. That format states no turnover. The gross margin rose from €191,006 in 2021 to €490,755 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €3.3m. Estimated: probably between €1.8m and €5.2m.
Higher than 51% of 12,862 companies in 2025.
Higher than 46% of 12,652 companies in 2025.
Higher than 95% of 12,725 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 12 people joined and 8 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
591,542 | 489,946 | 396,032 | 449,738 | 338,772 | |
21/28 |
129,548 | 63,943 | 64,439 | 73,694 | 62,538 | |
22/27 |
129,548 | 63,943 | 64,439 | 73,694 | 62,538 | |
23 |
2,521 | - | - | - | - | |
24 |
77,598 | 21,100 | 28,293 | 40,176 | 49,043 | |
26 |
49,428 | 42,843 | 36,146 | 33,518 | 13,495 | |
29/58 |
461,994 | 426,003 | 331,593 | 376,044 | 276,234 | |
3 |
189,090 | 171,387 | 162,390 | 175,386 | 157,238 | |
30/36 |
189,090 | 171,387 | 162,390 | 175,386 | 157,238 | |
40/41 |
170,100 | 118,084 | 82,547 | 92,932 | 71,125 | |
40 |
152,267 | 113,402 | 82,299 | 92,684 | 70,125 | |
41 |
17,832 | 4,682 | 248 | 248 | 1,000 | |
50/53 |
0 | 70,000 | - | - | - | |
54/58 |
96,131 | 62,165 | 80,827 | 104,996 | 46,620 | |
490/1 |
6,674 | 4,367 | 5,829 | 2,729 | 1,250 | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
591,542 | 489,946 | 396,032 | 449,738 | 338,772 | |
10/15 |
220,425 | 358,167 | 204,520 | 127,115 | 70,579 | |
10/11 |
3,000 | 3,000 | 3,000 | 3,000 | 3,000 | |
13 |
217,425 | 355,167 | 201,520 | 124,115 | 67,579 | |
133 |
217,425 | 355,167 | 201,520 | 124,115 | 67,579 | |
14 |
0 | - | - | - | - | |
17/49 |
371,116 | 131,779 | 191,512 | 322,624 | 268,193 | |
17 |
45,950 | 0 | 2,095 | 8,290 | 14,353 | |
170/4 |
45,950 | 0 | 2,095 | 8,290 | 14,353 | |
42/48 |
325,156 | 131,605 | 189,229 | 298,646 | 253,840 | |
42 |
15,754 | 2,095 | 6,195 | 6,063 | 5,935 | |
44 |
50,199 | 54,110 | 83,566 | 41,452 | 25,945 | |
440/4 |
50,199 | 54,110 | 83,566 | 41,452 | 25,945 | |
46 |
210 | 607 | 1,502 | 135 | - | |
45 |
65,123 | 74,793 | 96,986 | 79,992 | 47,134 | |
450/3 |
47,458 | 60,252 | 79,000 | 67,452 | 38,623 | |
454/9 |
17,666 | 14,541 | 17,986 | 12,539 | 8,510 | |
47/48 |
193,869 | 0 | 980 | 171,004 | 174,826 | |
492/3 |
11 | 174 | 188 | 15,688 | - | |
| Income statement | ||||||
9900 |
490,755 | 366,762 | 265,857 | 208,092 | 191,006 | |
62 |
186,517 | 141,792 | 127,204 | 108,382 | 82,770 | |
630 |
16,313 | 17,311 | 15,468 | 14,172 | 9,741 | |
640/8 |
1,651 | 5,819 | 5,864 | 2,846 | 3,847 | |
9901 |
286,274 | 201,841 | 117,321 | 82,691 | 94,648 | |
75/76B |
2,962 | 1,842 | 3,356 | 609 | 51 | |
75 |
2,962 | 1,842 | 3,356 | 609 | 51 | |
65/66B |
803 | 223 | 8,630 | 3,484 | 721 | |
65 |
803 | 223 | 8,630 | 3,484 | 721 | |
9903 |
288,432 | 203,460 | 112,046 | 79,816 | 93,979 | |
67/77 |
72,527 | 49,813 | 34,640 | 23,280 | 26,400 | |
9904 |
215,905 | 153,647 | 77,406 | 56,536 | 67,579 | |
9905 |
215,905 | 153,647 | 77,406 | 56,536 | 67,579 | |
| Appropriation of the result | ||||||
9906 |
215,905 | 153,647 | 77,406 | 56,536 | 67,579 | |
791/2 |
153,647 | - | - | - | - | |
691/2 |
15,905 | 153,647 | 77,406 | 56,536 | 67,579 | |
6921 |
15,905 | 153,647 | 77,406 | 56,536 | 67,579 | |
694/7 |
353,647 | - | - | - | - | |
694 |
353,647 | - | - | - | - | |
| Social balance sheet | ||||||
9087 |
5.1 | 3.7 | 3.2 | 2.7 | 2.4 | |
Hours worked1013 |
8,087 | 5,868 | 4,573 | 4,352 | 2,538 | |
| Document | ||||||
The notes to these accounts have 19 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 09-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 09-07-2026 | 2026-00282449 | |
| 31-12-2024 | abbreviated format | 17-07-2025 | 2025-00278179 | |
| 31-12-2023 | micro format | 03-07-2024 | 2024-00207123 | |
| 31-12-2022 | micro format | 30-06-2023 | 2023-00194206 | |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20139726 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| 302,586 | 219,152 | 132,789 | 96,864 | 104,389 | ||
| 232,218 | 170,957 | 92,874 | 70,708 | 77,320 | ||
| 88,507 | 16,815 | 6,213 | 25,329 | 72,279 | ||
| 33,965 | -18,662 | -24,169 | 58,376 | - | ||
| 136,838 | 294,398 | 142,364 | 77,398 | 22,394 | ||
| 37.3% | 73.1% | 51.6% | 28.3% | 20.8% | ||
| 1.42 | 3.24 | 1.75 | 1.26 | 1.09 | ||
| 0.84 | 1.93 | 0.89 | 0.67 | 0.47 | ||
| 1.68 | 0.37 | 0.94 | 2.54 | 3.80 | ||
| 97.9% | 42.9% | 37.8% | 44.5% | 95.7% | ||
| 36.5% | 31.4% | 19.5% | 12.6% | 19.9% | ||
| over 100 | over 100 | 15.39 | 27.80 | over 100 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 9 | 5 | 5 | 4 | 3 |
| full-time | 6 | 3 | 3 | 3 | 3 |
| part-time | 3 | 2 | 2 | 1 | - |
| in full-time equivalents | 7.2 | 4 | 4.1 | 3.2 | 3 |
| 5.1 | 3.7 | 3.2 | 2.7 | 2.4 | |
| On a permanent contract | 7 | 4 | 3 | 3 | 3 |
| Joined | 12 | 6 | 11 | 7 | 4 |
| Left | 8 | 6 | 10 | 6 | 1 |
| Training hours | - | 4 | 2 | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €61,704 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €88,507 | €16,815 | €6,213 | €25,329 | €72,279 |
| Financial fixed assets | €0 | - | - | - | - |
| €16,313 | €17,311 | €15,468 | €14,172 | €9,741 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 42% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Debt's share of the balance-sheet total rises from 26.9% to 62.7%. Equity is lower and debt is higher.
ITS Plus has no parent and no holdings in its annual accounts. LANOYE Thomas is the only director. ITS Plus shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
On 14 January 2021, ITS Plus was incorporated as a private limited company by two natural persons, with a starting capital of €3,000.12 LANOYE Thomas has served as director since 2021.3 Total assets went from €338,772 in 2021 to €591,542 in 2025 and headcount from 2.4 to 5.1 full-time equivalents.4
| Establishment | Since | Unit number |
|---|---|---|
| Gentse Steenweg 6 registered office 9160 Lokeren | 14-01-2021 | 2.311.942.936 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 46383D1165/00R000 | 1,041 m² | 1 · 241 m² | 11.7 m · 2 |
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