Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 25 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
ITC Co from Tielt, company number BE0777929607, closed financial year 2025 with a result of € -5.3 million after tax. For that financial year ITC Co recorded revenue of € 69.2 million and equity of € 29.2 million. Compared with financial year 2024, the result moved from € -591,693 to € -5.3 million. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 14, 2026.
€ 29.2 million
▼ 15% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -5.3 million
▼ 793 % more loss than in 2024
Profit after tax over the fiscal year.
€ 152,818
▼ 88% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 8.2 million.
People and assets in 2025
431.8
▼ 28.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 27.5 million
▼ 4% vs 2024
€ 63,600 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 8.7 million
▼ 19% vs 2024
Of which on lease € 8.4 million.
Debts at end 2025
€ 16.6 million
▲ 47% vs 2024
€ 2.2 million is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 13.8 million
▲ 28% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 111 days on average.
€ 5.6 million
▼ 15% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 138,706,920 | € 94,287,791 | € 86,863,395 | € 69,244,523 | ▼ 20% |
| Profit after taxes | € -1,068,998 | € -5,192,095 | € -591,693 | € -5,284,453 | ▼ € 4.7 million |
| Equity | € 40,256,733 | € 35,064,638 | € 34,472,945 | € 29,188,492 | ▼ 15% |
| Total debts | € 64,434,065 | € 49,695,651 | € 41,889,679 | € 46,549,628 | ▲ 11% |
| Cash | € 13,562,743 | € 8,321,509 | € 1,297,155 | € 152,818 | ▼ 88% |
| Retained profit | € 19,252,020 | € 14,059,925 | € 13,468,232 | € 8,183,779 | ▼ 39% |
| Bank debt | € 15,032,678 | € 13,372,170 | € 11,278,789 | € 16,562,851 | ▲ 47% |
| Balance sheet total | € 104,690,798 | € 84,760,289 | € 76,362,623 | € 77,281,732 | ▲ 1% |
| Employees (FTE) | 499.2 | 472.5 | 460.5 | 431.8 | ▼ 28.7 |
Key figures of ITC Co, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to ITC Co?
What happened at ITC Co in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 5.3 million. Source: NBB ↗
- TWINNSON BV became a director. NBB
- ANMIRU BV stepped down as director. NBB
- EQIDNA BV became a director. NBB
- ANMIRU BV became a director. NBB
- New establishment in Zele. KBO
- New establishment in Waregem. KBO
- New establishment in Tielt. KBO
In short
From € 1.1 million loss in 2022 to € 5.3 million loss in 2025.
Paid € 62,185 in corporate taxes since 2022.
Pays suppliers within 111 days on average.
A new publication or filing at ITC Co? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of BELYSSE comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
ITC CoBehind ITC Co are TWINNSON BV and EQIDNA BV. The shares are held by BELYSSE (100%). It owns 100% of Modulyss NV itself.
Directors
According to the 2025 annual accounts
Shareholders
100%
Participations
100%
Establishments
Establishment units
Physical locations of this company
Kanegemstraat 15
8700 Tielt
Franklin Rooseveltlaan 172-174
8790 Waregem
Active since 18 April 2022
Zevensterrestraat 21
9240 Zele
Active since 20 June 2022
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0777.929.607
- VAT number
- BE 0777.929.607
- Registered office
- Kanegemstraat 15, 8700 Tielt
- Names & denominations
- ITC Co
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 1 December 2021
- Peppol
- Active · Active since 1 Jan 2001
- Contact
- [email protected]
- Activities · NACE
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