ITT CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of ITT CONSTRUCT is 1.9% (moderate). The 2024 annual accounts show equity of €254,813 and a net result of €24,163. Equity is growing by ~90% per year across the filed fiscal years. Its solvency ranks better than 87% of 9975 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability78▼-22
Solvency100▲+13
Growth85=
Track record100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €18,000 at 30 days acceptable
Liquidity ample (current ratio 4.15 against 2.07 in 2023; short-term debt: 20.4% and cash: 22.5% of total assets), and 20.4% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-09-2025, 60 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
60 d late
2023
125 d late
2022
198 d late
2022
32 d early
2021
109 d late
2020
92 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 92 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
€1.2m▲ 783%
2022 · €133,500
EBIT margin
19.2%▼ 11.1pp
2022 · 30.2%
Net result
€24,163▼ 85.1%
2023 · €162,586
Working capital
€206,419▲ 35.8%
2023 · €151,961
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202220232024
Turnover€25,730▼ 60.6%€29,013▲ 12.8%€133,500-€1.2m▲ 783%
Operating result-€4,731-€9,022▼ 90.7%€40,340-€225,823▲ 460%€42,560▼ 81.2%
Net result€3,528within the sector's middle half▼ 82.4%-€9,220below the sector's middle half€31,371within the sector's middle half-€162,586above the sector's middle half▲ 418%€24,163within the sector's middle half▼ 85.1%
EBIT margin-18.4%▼ 64.1pp-31.1%▼ 12.7pp30.2%-19.2%▼ 11.1pp
Equity€29,789within the sector's middle half▲ 13.4%€20,569below the sector's middle half▼ 31.0%€51,940below the sector's middle half-€230,649within the sector's middle half▲ 344%€254,813above the sector's middle half▲ 10.5%
Total assets€50,082below the sector's middle half▲ 20.4%€49,273below the sector's middle half▼ 1.6%€69,067below the sector's middle half-€372,216within the sector's middle half▲ 439%€320,292above the sector's middle half▼ 14.0%
Debt€20,293▲ 32.3%€28,704▲ 41.4%€17,127-€141,567▲ 727%€65,479▼ 53.7%
Working capital€28,381within the sector's middle half▲ 18.4%€18,788within the sector's middle half▼ 33.8%€40,809within the sector's middle half-€151,961within the sector's middle half▲ 272%€206,419above the sector's middle half▲ 35.8%
Solvency59.5%within the sector's middle half▼ 3.6pp41.7%within the sector's middle half▼ 17.7pp75.2%above the sector's middle half-62.0%above the sector's middle half▼ 13.2pp79.6%above the sector's middle half▲ 17.6pp
Current ratio2.40within the sector's middle half▼ 0.161.65within the sector's middle half▼ 0.743.38above the sector's middle half-2.07within the sector's middle half▼ 1.314.15above the sector's middle half▲ 2.08
Return on assets (ROA)7.0%within the sector's middle half▼ 41.2pp-18.7%below the sector's middle half▼ 25.8pp45.4%above the sector's middle half-43.7%above the sector's middle half▼ 1.7pp7.5%within the sector's middle half▼ 36.1pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2024 Net result -85% on 2023. The accounts now follow the micro schema, last year the full schema.
- 2023 Turnover +783%, Net result +418% on 2022. The previous fiscal year ran 11 months, this one 12.
Result per fiscal year
Operating resultNet result
Multiple fiscal year ends fall in the same calendar year; an annual trend is not displayed.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €320,292
Fixed assets
€48,394 ▼ 38.5%
Current assets
€271,898 ▼ 7.4%
Equity and liabilities €320,292
Equity
€254,813 ▲ 10.5%
Debt
€65,479 ▼ 53.7%
Debt's share of the balance-sheet total falls from 38.0% to 20.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€55,693▼
2023 · €238,779
Cash flow
€37,296▼
2023 · €175,542
Debt to equity
0.26▼
2023 · 0.61
ROE
9.5%▼
2023 · 70.5%
Interest coverage
17.77▲
2023 · 10.20
Debt ≤ 1 year
€65,479▼
2023 · €141,567
Income taxes
€15,361▼
2023 · €40,647
Staff costs
€7,250
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 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% | 1.7% |
| 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 75% 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 26,970 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 | 2021 | 2022 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €25,730 | €29,013 | €133,500 | €1.2m | - | - |
| Non-recurring operating income76A | - | - | €1,731 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €40,120 | €93,992 | €932,592 | - | - |
| Remuneration, social security and pensions62 | - | €1,528 | - | - | €7,250 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €887 | €887 | - | €12,956 | €13,133 | ▲ 1.4% |
| Other operating charges640/8 | - | - | €899 | €7,611 | €8,763 | ▲ 15.1% |
| Gross operating margin9900 | -€3,318 | -€6,607 | €41,239 | €246,390 | €71,705 | ▼ 70.9% |
| Operating profit (loss)9901 | -€4,731 | -€9,022 | €40,340 | €225,823 | €42,560 | ▼ 81.2% |
| Financial income75/76B | - | - | - | €826 | €98 | ▼ 88.2% |
| Recurring financial income75 | - | - | - | €826 | €98 | ▼ 88.2% |
| Financial charges65/66B | - | €198 | €128 | €23,417 | €3,134 | ▼ 86.6% |
| Recurring financial charges65 | €23 | €198 | €128 | €23,417 | €3,134 | ▼ 86.6% |
| Profit (loss) for the period before taxes9903 | €3,745 | -€9,220 | €40,212 | €203,232 | €39,524 | ▼ 80.6% |
| Income taxes67/77 | €218 | - | €8,841 | €40,647 | €15,361 | ▼ 62.2% |
| Profit (loss) for the period9904 | €3,528 | -€9,220 | €31,371 | €162,586 | €24,163 | ▼ 85.1% |
| Profit (loss) for the period to be appropriated9905 | €3,528 | -€9,220 | €31,371 | €162,586 | €24,163 | ▼ 85.1% |
| Line | 2021 | 2022 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €50,082 | €49,273 | €69,067 | €372,216 | €320,292 | ▼ 14.0% |
| Fixed assets21/28 | €1,408 | €1,781 | €11,131 | €78,689 | €48,394 | ▼ 38.5% |
| Tangible fixed assets22/27 | €1,308 | €1,681 | €6,031 | €73,589 | €43,294 | ▼ 41.2% |
| Plant, machinery and equipment23 | - | - | - | €2,751 | €4,487 | ▲ 63.1% |
| Furniture and vehicles24 | - | €1,681 | €6,031 | €70,838 | €38,807 | ▼ 45.2% |
| Financial fixed assets28 | €100 | €100 | €5,100 | €5,100 | €5,100 | = |
| Current assets29/58 | €48,675 | €47,492 | €57,936 | €293,527 | €271,898 | ▼ 7.4% |
| Amounts receivable within one year40/41 | €15,629 | €26,517 | €49,455 | €213,018 | €199,989 | ▼ 6.1% |
| Trade receivables40 | - | €26,517 | €47,881 | €117,209 | €101,167 | ▼ 13.7% |
| Other amounts receivable41 | - | - | €1,574 | €95,809 | €98,823 | ▲ 3.1% |
| Cash at bank and in hand54/58 | €26,229 | €20,976 | €8,481 | €80,509 | €71,909 | ▼ 10.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €50,082 | €49,273 | €69,067 | €372,216 | €320,292 | ▼ 14.0% |
| Equity10/15 | €29,789 | €20,569 | €51,940 | €230,649 | €254,813 | ▲ 10.5% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | - | €6,200 | €6,200 | €6,200 | - | - |
| Issued capital100 | - | €18,600 | €18,600 | €18,600 | - | - |
| Uncalled capital101 | - | €12,400 | €12,400 | €12,400 | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | €1,860 | €1,860 | €1,860 | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €1,860 | - |
| Profit (loss) carried forward14 | €21,729 | €12,509 | €43,880 | €222,589 | €246,753 | ▲ 10.9% |
| Amounts payable17/49 | €20,293 | €28,704 | €17,127 | €141,567 | €65,479 | ▼ 53.7% |
| Amounts payable within one year42/48 | €20,293 | €28,704 | €17,127 | €141,567 | €65,479 | ▼ 53.7% |
| Financial debts43 | - | €1,233 | €1,233 | €1,233 | - | - |
| Credit institutions430/8 | - | €1,233 | €1,233 | €1,233 | - | - |
| Trade debts44 | €18,851 | €25,599 | - | €11,935 | €50,118 | ▲ 320% |
| Suppliers440/4 | - | €778 | - | €11,935 | €50,118 | ▲ 320% |
| Bills of exchange payable441 | - | €24,821 | - | - | - | - |
| Advances received on contracts in progress46 | - | - | €5,181 | - | - | - |
| Taxes, remuneration and social security45 | - | €1,872 | €10,713 | €128,399 | €15,361 | ▼ 88.0% |
| Taxes450/3 | - | - | €10,713 | €128,399 | €15,361 | ▼ 88.0% |
| Remuneration and social security454/9 | - | €1,872 | - | - | - | - |
| Line | 2021 | 2022 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,528 | -€9,220 | €31,371 | €162,586 | €24,163 | ▼ 85.1% |
| + Depreciation and write-downs630 | €887 | €887 | - | €12,956 | €13,133 | ▲ 1.4% |
| Operating cash flow (approximation) | €4,415 | -€8,333 | €31,371 | €175,542 | €37,296 | ▼ 78.8% |
| Investment in fixed assets (approximation) | - | -€1,260 | - | -€80,513 | €17,162 | ▲ 121% |
| Change in cash | - | -€5,254 | - | €72,028 | -€8,600 | ▼ 112% |
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
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
2024
31-12
Financial
Liquidity doublescurrent ratio 4.15
Current ratio from 2.07 to 4.15; short-term debt falls from €141,567 to €65,479.
03-12
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 125 days late
14-02
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 198 days late
2023
31-12
Financial
Highest result since 2020net €162,586 ▲418%
Operating result €225,823, net result €162,586, both a record.
31-12
Financial
Equity above €200,000Eq €230,649 ▲344%
2 profitable years in a row build equity to €230,649.
2022
31-12
Financial
Back to profitnet €31,371
Net result €31,371 after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 3.38
Current ratio from 1.65 to 3.38; short-term debt falls from €28,704 to €17,127.
29-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
30-01
Financial
Weakest financial yearnet -€9,220
Net result drops to -€9,220, the lowest in the series; recovery starts the following year.
2021
17-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 109 days late
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 92 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Dilbeek · 1 establishment unit since 2019
Ground area
1,225 m²
Building footprint
171 m²
Volume, LiDAR
1,515 m³
2 parcels, Flanders · tallest building 13.1 m, ±3 floors. Linked by address, not a title deed.
65
companies at this address
See who is registered here
1 establishment unit
ITT CONSTRUCT
since 20192.286.513.791
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23026B0089/00F011 | Flanders | 1,033 m² | 1 · 104 m² | 13.1 m · 3 fl. |
| 23026C0305/00R000 | Flanders | 192 m² | 1 · 68 m² | 10.6 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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PP SERVICE
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Of 333 companies in sector 41002 we hold annual accounts for 133. 79 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
Founded31-01-2019
Fiscal year end31-12
Activities, NACEBEL 2025
41002Construction of residential and non-residential buildings
41001General construction of residential buildings
74201Photography, excluding press photography
74209Other photographic activities
Contact
E-mail
ghitatimis2@gmail.comDilbeek
Phone
027369355Dilbeek
E-invoicing
Reachable via Peppol
Peppol ID
0208:0719661212
Also
9925:BE0719661212
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.