ITINERIS
ActiveSummary
ITINERIS has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €29.51M and a net result of €7.84M. Equity is growing by ~8.3% per year across the filed fiscal years. Its solvency ranks better than 71% of 1416 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
83
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability90▲+4
Solvency84▼-7
Growth64▼-14
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2M at 30 days acceptable
Liquidity tight (current ratio 1.13 against 2.02 in 2024; short-term debt: 31% and cash: 10.2% of total assets), and 40.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Sector 62
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
59.3%
Return on assets
15.8%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-06-2026, 53 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
53 d early
2024
24 d early
2023
51 d early
2022
49 d early
2021
24 d late
2020
33 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema, statutory accounts
Turnover
€71.36M▲ 10.4%
2024 · €64.61M
2018: €30.09M
2019: €25.94M
2020: €30.11M
2021: €34.81M
2022: €43.95M
2023: €53.22M
2024: €64.61M
2018 → 2025
EBIT margin
11.8%▼ 1.0pp
2024 · 12.9%
2018: -1.8%
2019: -19.4%
2020: -11.6%
2021: -6.7%
2022: -9.8%
2023: 0.2%
2024: 12.9%
2018 → 2025
Net result
€7.84M▼ 0.2%
2024 · €7.86M
2018: €287k
2019: €-5.16M
2020: €-4.09M
2021: €-2.89M
2022: €-7.29M
2023: €-189k
2024: €7.86M
2018 → 2025
Working capital
€2.08M▼ 92.1%
2024 · €26.34M
2018: €12.26M
2019: €6.75M
2020: €14.04M
2021: €8.52M
2022: €12.82M
2023: €17.59M
2024: €26.34M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€34.81M-€43.95M▲ 26.2%€53.22M▲ 21.1%€64.61M▲ 21.4%€71.36M▲ 10.4%
Equity€46.02M-€55.02M▲ 19.6%€54.83M▼ 0.3%€62.73M▲ 14.4%€29.51M▼ 53.0%
Operating result€-2.34M-€-4.32M▼ 84.3%€82k€8.31M▲ 10,093%€8.45M▲ 1.7%
Net result€-2.89M-€-7.29M▼ 152%€-189k▲ 97.4%€7.86M€7.84M▼ 0.2%
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 2% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €49.74M
Fixed assets
€32.23M ▼ 25.8%
Current assets
€17.51M ▼ 66.4%
Equity and liabilities €49.74M
Equity
€29.51M ▼ 53.0%
Provisions
€185k ▲ 10.5%
Debt
€20.05M ▼ 38.5%
Debt's share of the balance-sheet total rises from 34.1% to 40.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€12.96M▲
2024 · €12.71M
Cash flow
€12.36M▲
2024 · €12.25M
Current ratio
1.13▼
2024 · 2.02
Debt to equity
0.68▲
2024 · 0.52
ROE
26.6%▲
2024 · 12.5%
ROA
15.8%▲
2024 · 8.2%
Interest coverage
21.93▲
2024 · 18.62
Debt ≤ 1 year
€15.43M▼
2024 · €25.71M
Income taxes
€441k▲
2024 · €419k
Staff costs
€22.71M▲
2024 · €21.06M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 84 lines
Balance sheet
Code20242025
Assets
Total assets20/58€95.47M€49.74M▼
Fixed assets21/28€43.42M€32.23M▼
Intangible fixed assets21€11.27M€11.17M▼
Tangible fixed assets22/27€449k€666k▲
Furniture and vehicles24€330k€534k▲
Other tangible fixed assets26€120k€132k▲
Financial fixed assets28€31.71M€20.39M▼
Affiliated companies280/1€31.67M€20.25M▼
Participating interests280€31.67M€16.32M▼
Amounts receivable281-€3.94M
Other financial fixed assets284/8€34k€138k▲
Amounts receivable and cash guarantees285/8€34k€138k▲
Current assets29/58€52.05M€17.51M▼
Amounts receivable after more than one year29€1.19M€252k▼
Other amounts receivable291€1.19M€252k▼
Amounts receivable within one year40/41€10.86M€11.65M▲
Trade receivables40€9.80M€8.86M▼
Other amounts receivable41€1.06M€2.79M▲
Cash at bank and in hand54/58€39.56M€5.06M▼
Deferred charges and accrued income490/1€438k€549k▲
Equity and liabilities
Total equity and liabilities10/49€95.47M€49.74M▼
Equity10/15€62.73M€29.51M▼
Contributions10/11€64.42M€27.85M▼
Capital10€1.55M€1.61M▲
Issued capital100€1.55M€1.61M▲
Outside capital11€62.87M€26.24M▼
Share premium1100/10€62.87M€26.24M▼
Reserves13€826k€161k▼
Non-distributable reserves130/1€54k€161k▲
Legal reserve130€54k€161k▲
Distributable reserves133€772k-
Profit (loss) carried forward14€-2.51M€1.50M▲
Provisions and deferred taxes16€167k€185k▲
Provisions for liabilities and charges160/5€167k€185k▲
Pensions and similar obligations160€167k€185k▲
Amounts payable17/49€32.57M€20.05M▼
Amounts payable within one year42/48€25.71M€15.43M▼
Trade debts44€6.07M€4.10M▼
Suppliers440/4€6.07M€4.10M▼
Taxes, remuneration and social security45€3.88M€3.95M▲
Taxes450/3€17k€26k▲
Remuneration and social security454/9€3.86M€3.92M▲
Other amounts payable47/48€15.76M€7.38M▼
Accrued charges and deferred income492/3€6.87M€4.62M▼
Income statement
Code20242025
Operating income70/76A€70.91M€77.83M▲
Turnover70€64.61M€71.36M▲
Own construction capitalised72€4.12M€4.15M▲
Other operating income74€2.17M€2.32M▲
Non-recurring operating income76A€3k-
Operating charges60/66A€62.60M€69.38M▲
Goods for resale, raw materials and consumables60€24.28M€25.85M▲
Purchases600/8€24.28M€25.85M▲
Services and other goods61€12.68M€13.02M▲
Remuneration, social security and pensions62€21.06M€22.71M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4.39M€4.51M▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-33k-
Provisions for liabilities and charges: additions (uses and reversals)635/8€31k€18k▼
Other operating charges640/8€188k€124k▼
Non-recurring operating charges66A€288€3.16M▲
Operating profit (loss)9901€8.31M€8.45M▲
Financial income75/76B€1.16M€674k▼
Recurring financial income75€1.16M€674k▼
Income from financial fixed assets750€879k€485k▼
Income from current assets751€31k€51k▲
Other financial income752/9€249k€137k▼
Financial charges65/66B€1.20M€839k▼
Recurring financial charges65€1.20M€839k▼
Debt charges650€682k€591k▼
Other financial charges652/9€513k€248k▼
Profit (loss) for the period before taxes9903€8.28M€8.29M▲
Income taxes67/77€419k€441k▲
Taxes670/3€908k€900k▼
Tax adjustments and reversals of tax provisions77€489k€459k▼
Profit (loss) for the period9904€7.86M€7.84M▼
Profit (loss) for the period to be appropriated9905€7.86M€7.84M▼
Appropriation of the result
Profit (loss) to be appropriated9906€-2.51M€5.33M▲
Profit (loss) brought forward from the previous period14P€-10.37M€-2.51M▲
Transfer from equity791/2-€772k
From reserves792-€772k
Transfer to equity691/2-€107k
To the legal reserve6920-€107k
Profit to be distributed694/7-€4.50M
Return on contributions (dividend)694-€4.50M
Social balance
Average headcount (FTE)9087213.9224.1▲
The notes to these accounts (65 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · consolidated
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €7.86M
Net result €7.86M after 5 loss-making years.
10-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
10-06
NBB filing
Annual accounts filed
fiscal year 2023 · consolidated
2023
14-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
12-06
NBB filing
Annual accounts filed
fiscal year 2022 · consolidated
2022
31-12
Financial
Weakest financial yearnet €-7.29M
Net result drops to €-7.29M, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €50MEq €55.02M ▲19.6%
Equity rises from €46.02M to €55.02M.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · consolidated · 24 days late
24-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 24 days late
2021
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
52 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, Gent · 1 establishment unit since 2001
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Kortrijksesteenweg 11449051 GentGround area
5,489 m²
Building footprint
3,031 m²
Volume, LiDAR
19,122 m³
Parcel 44062B0041/00P003, Flanders · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ITINERIS NV
since 20012.098.249.263
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44062B0041/00P003 | Flanders | 5,489 m² | 1 · 3,031 m² | 9.5 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 10 entries · 355,288 EUR awarded · 352,516 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 4 | 6,007 EUR | 73,908 EUR |
| 2024 | 2 | 1,729 EUR | 5,180 EUR |
| 2023 | 3 | 343,371 EUR | 269,247 EUR |
| 2022 | 1 | 4,181 EUR | 4,181 EUR |
Schemes
Ontwikkelingsproject
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Werkbaarheidscheque (stopgezet)
Vlaams opleidingsverlof (VOV)
Recognitions · licences · registrations
Legal Entity Identifier
549300AO0OIFKGEW2780
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Belgian Mobile ID
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Of 29,996 companies in sector 62200 we hold annual accounts for 18,393. 315 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded08-06-2001
Fiscal year end31-12
Activities, NACEBEL 2025
62100Computer programming
62200Computer consultancy and computer facilities management
Sources
Crossroads Bank for EnterprisesNational Bank · 34 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesPhone:0484/75 39 90
Fax:09/381 92 79