ITTIMA
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-06-2026 at the NBB all 4 filings
Turnover
≈ €310,000
Estimated: probably between €240,000 and €410,000
Total assets
€414,261▲ 16.9%
2024 · €354,423
Net result
€70,239▼ 15.9%
2024 · €83,508
Working capital
€331,317▲ 16.5%
2024 · €284,405
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
€93,845
▼ 18.5%
2025
20222025
Net result
€70,239
▼ 15.9%
2025
highest quarter of the sector
20222025
Equity
€341,445
▲ 14.2%
2025
highest quarter of the sector
20222025
Total assets
€414,261
▲ 16.9%
2025
highest quarter of the sector
20222025
Debt
€72,816
▲ 31.1%
2025
20222025
Working capital
€331,317
▲ 16.5%
2025
highest quarter of the sector
20222025
Solvency
82.4%
▼ 1.9pp
2025
highest quarter of the sector
20222025
Current ratio
5.61
▼ 0.51
2025
highest quarter of the sector
20222025
Return on assets (ROA)
17.0%
▼ 6.6pp
2025
highest quarter of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€77,525-€77,601▲ 0.1%€115,167▲ 48.4%€93,845▼ 18.5%
Net result€56,523above the sector's middle half-€56,542above the sector's middle half=€83,508above the sector's middle half▲ 47.7%€70,239above the sector's middle half▼ 15.9%
Equity€190,116above the sector's middle half-€231,176above the sector's middle half▲ 21.6%€298,874above the sector's middle half▲ 29.3%€341,445above the sector's middle half▲ 14.2%
Total assets€241,110within the sector's middle half-€291,846within the sector's middle half▲ 21.0%€354,423above the sector's middle half▲ 21.4%€414,261above the sector's middle half▲ 16.9%
Debt€50,994-€60,670▲ 19.0%€55,549▼ 8.4%€72,816▲ 31.1%
Working capital€161,762above the sector's middle half-€209,764above the sector's middle half▲ 29.7%€284,405above the sector's middle half▲ 35.6%€331,317above the sector's middle half▲ 16.5%
Solvency78.9%above the sector's middle half-79.2%above the sector's middle half▲ 0.4pp84.3%above the sector's middle half▲ 5.1pp82.4%above the sector's middle half▼ 1.9pp
Current ratio4.17above the sector's middle half-4.46above the sector's middle half▲ 0.296.12above the sector's middle half▲ 1.665.61above the sector's middle half▼ 0.51
Return on assets (ROA)23.4%above the sector's middle half-19.4%above the sector's middle half▼ 4.1pp23.6%above the sector's middle half▲ 4.2pp17.0%above the sector's middle half▼ 6.6pp
above
within
below
The sector band is the middle half of the companies in Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles (NACE 95). 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 19% 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 €414,261
Fixed assets
€11,041 ▼ 23.7%
Current assets
€403,220 ▲ 18.6%
Equity and liabilities €414,261
Equity
€341,445 ▲ 14.2%
Debt
€72,816 ▲ 31.1%
Debt's share of the balance-sheet total rises from 15.7% to 17.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€101,541▼
2024 · €122,109
Cash flow
€77,935▼
2024 · €90,450
Debt to equity
0.21▲
2024 · 0.19
ROE
20.6%▼
2024 · 27.9%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€71,903▲
2024 · €55,549
Income taxes
€26,820▼
2024 · €32,896
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €34,710 | - | - | €4,268 |
| Financial fixed assets | - | - | - | €0 |
| Depreciation and write-downs of the year | €6,357 | €6,942 | €6,942 | €7,696 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | €5,601 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,357 | €6,942 | €6,942 | €7,696 | ▲ 10.9% |
| Other operating charges640/8 | €398 | €384 | €387 | €400 | ▲ 3.2% |
| Gross operating margin9900 | €84,279 | €84,928 | €122,496 | €101,941 | ▼ 16.8% |
| Operating profit (loss)9901 | €77,525 | €77,601 | €115,167 | €93,845 | ▼ 18.5% |
| Financial income75/76B | €0 | €764 | €2,098 | €4,214 | ▲ 101% |
| Recurring financial income75 | €0 | €764 | €2,098 | €4,214 | ▲ 101% |
| Financial charges65/66B | €128 | €213 | €861 | €1,001 | ▲ 16.2% |
| Recurring financial charges65 | €128 | €213 | €861 | €1,001 | ▲ 16.2% |
| Profit (loss) for the period before taxes9903 | €77,397 | €78,152 | €116,403 | €97,059 | ▼ 16.6% |
| Income taxes67/77 | €20,875 | €21,609 | €32,896 | €26,820 | ▼ 18.5% |
| Profit (loss) for the period9904 | €56,523 | €56,542 | €83,508 | €70,239 | ▼ 15.9% |
| Profit (loss) for the period to be appropriated9905 | €56,523 | €56,542 | €83,508 | €70,239 | ▼ 15.9% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €241,110 | €291,846 | €354,423 | €414,261 | ▲ 16.9% |
| Fixed assets21/28 | €28,354 | €21,412 | €14,470 | €11,041 | ▼ 23.7% |
| Tangible fixed assets22/27 | €28,354 | €21,412 | €14,470 | €11,041 | ▼ 23.7% |
| Plant, machinery and equipment23 | €1,187 | €900 | €613 | €1,318 | ▲ 115% |
| Furniture and vehicles24 | €27,167 | €20,512 | €13,857 | €9,723 | ▼ 29.8% |
| Current assets29/58 | €212,756 | €270,434 | €339,954 | €403,220 | ▲ 18.6% |
| Amounts receivable after more than one year29 | - | €37,798 | €26,656 | €15,346 | ▼ 42.4% |
| Trade receivables290 | - | €37,798 | €0 | - | - |
| Other amounts receivable291 | - | - | €26,656 | €15,346 | ▼ 42.4% |
| Amounts receivable within one year40/41 | €79,223 | €81,267 | €126,756 | €36,986 | ▼ 70.8% |
| Trade receivables40 | €79,223 | €70,291 | €109,727 | €22,355 | ▼ 79.6% |
| Other amounts receivable41 | - | €10,976 | €17,029 | €14,631 | ▼ 14.1% |
| Cash at bank and in hand54/58 | €131,719 | €149,434 | €184,433 | €348,737 | ▲ 89.1% |
| Deferred charges and accrued income490/1 | €1,815 | €1,936 | €2,109 | €2,150 | ▲ 2.0% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €241,110 | €291,846 | €354,423 | €414,261 | ▲ 16.9% |
| Equity10/15 | €190,116 | €231,176 | €298,874 | €341,445 | ▲ 14.2% |
| Contributions10/11 | €5,500 | €5,500 | €5,500 | €5,500 | = |
| Reserves13 | €184,610 | €225,670 | €293,369 | €335,945 | ▲ 14.5% |
| Distributable reserves133 | €184,610 | €225,670 | €293,369 | €335,945 | ▲ 14.5% |
| Profit (loss) carried forward14 | €6 | €6 | €6 | €0 | ▼ 100% |
| Amounts payable17/49 | €50,994 | €60,670 | €55,549 | €72,816 | ▲ 31.1% |
| Amounts payable within one year42/48 | €50,994 | €60,670 | €55,549 | €71,903 | ▲ 29.4% |
| Financial debts43 | €0 | - | - | - | - |
| Credit institutions430/8 | €0 | - | - | - | - |
| Trade debts44 | €2,114 | €2,206 | €2,399 | €2,067 | ▼ 13.8% |
| Suppliers440/4 | €2,114 | €2,206 | €2,399 | €2,067 | ▼ 13.8% |
| Taxes, remuneration and social security45 | €33,441 | €27,751 | €26,215 | €28,571 | ▲ 9.0% |
| Taxes450/3 | €23,094 | €18,678 | €26,215 | €28,571 | ▲ 9.0% |
| Remuneration and social security454/9 | €10,347 | €9,073 | €0 | - | - |
| Other amounts payable47/48 | €15,439 | €30,713 | €26,935 | €41,264 | ▲ 53.2% |
| Accrued charges and deferred income492/3 | - | - | - | €913 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €56,523 | €56,542 | €83,508 | €70,239 | ▼ 15.9% |
| + Depreciation and write-downs630 | €6,357 | €6,942 | €6,942 | €7,696 | ▲ 10.9% |
| Operating cash flow (approximation) | €62,879 | €63,485 | €90,450 | €77,935 | ▼ 13.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€4,268 | - |
| Change in cash | - | €17,715 | €34,999 | €164,304 | ▲ 369% |
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, 34,693 companies had the same profile as ITTIMA has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of ITTIMA itself: < 0.1% 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 34,693 companies, not a prediction for ITTIMA. 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.