TELCO
ActiveSummary
TELCO has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.33M and a net result of €421k. Equity is growing by ~4.3% per year across the filed fiscal years. Its solvency ranks better than 59% of 9715 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability78▲+10
Solvency66▲+10
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €170k at 30 days acceptable
Liquidity short (current ratio 0.34 against 0.26 in 2023; short-term debt: 29.8% and cash: 0.1% of total assets), and 58.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
41.1%
Return on assets
7.4%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-07-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
on the day
2023
43 d early
2022
on the day
2021
19 d early
2020
26 d early
2019
6 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€2.33M▲ 31.2%
2023 · €1.78M
2018: €1.75Mlowest in 7 years
2019: €1.88M▲ +7.4% vs 2018
2020: €1.93M▲ +2.7% vs 2019
2021: €2.04M▲ +5.8% vs 2020
2022: €1.83M▼ -10.7% vs 2021
2023: €1.78M▼ -2.6% vs 2022
2024: €2.33M▲ +31.2% vs 2023highest in 7 years
2018 → 2024
Total assets
€5.68M▼ 1.1%
2023 · €5.75M
2018: €4.07Mlowest in 7 years
2019: €6.57M▲ +61.6% vs 2018highest in 7 years
2020: €5.56M▼ -15.4% vs 2019
2021: €6.05M▲ +8.8% vs 2020
2022: €5.72M▼ -5.4% vs 2021
2023: €5.75M▲ +0.5% vs 2022
2024: €5.68M▼ -1.1% vs 2023
2018 → 2024
Net result
€421k
2023 · €-47k
2018: €74k
2019: €1.50M▲ +1929% vs 2018highest in 7 years
2020: €51k▼ -96.6% vs 2019
2021: €113k▲ +120% vs 2020
2022: €-218k▼ -294% vs 2021lowest in 7 years
2023: €-47k▲ +78.5% vs 2022
2024: €421k▲ +999% vs 2023
2018 → 2024
Working capital
€-1.11M▲ 15.7%
2023 · €-1.32M
2018: €-441khighest in 7 years
2019: €-1.56M▼ -254% vs 2018lowest in 7 years
2020: €-1.18M▲ +24.5% vs 2019
2021: €-1.36M▼ -15.2% vs 2020
2022: €-1.23M▲ +9.1% vs 2021
2023: €-1.32M▼ -7.1% vs 2022
2024: €-1.11M▲ +15.7% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€1.93M-€2.04M▲ 5.8%€1.83M▼ 10.7%€1.78M▼ 2.6%€2.33M▲ 31.2%
2020: €1.93M
2021: €2.04M▲ +5.8% vs 2020
2022: €1.83M▼ -10.7% vs 2021
2023: €1.78M▼ -2.6% vs 2022lowest in 5 years
2024: €2.33M▲ +31.2% vs 2023highest in 5 years
Operating result€118k-€-48k€-191k▼ 302%€-5k▲ 97.6%€301k
2020: €118k
2021: €-48k▼ -140% vs 2020
2022: €-191k▼ -302% vs 2021lowest in 5 years
2023: €-5k▲ +97.6% vs 2022
2024: €301k▲ +6748% vs 2023highest in 5 years
Net result€51k-€113k▲ 120%€-218k€-47k▲ 78.5%€421k
2020: €51k
2021: €113k▲ +120% vs 2020
2022: €-218k▼ -294% vs 2021lowest in 5 years
2023: €-47k▲ +78.5% vs 2022
2024: €421k▲ +999% vs 2023highest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €301k after a loss of €5k in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €5.68M
Fixed assets
€5.11M ▼ 3.3%
Current assets
€579k ▲ 22.9%
Equity and liabilities €5.68M
Equity
€2.33M ▲ 31.2%
Debt
€3.35M ▼ 15.6%
Debt's share of the balance-sheet total falls from 69.1% to 58.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€740k▲
2023 · €429k
Cash flow
€859k▲
2023 · €386k
Current ratio
0.34▲
2023 · 0.26
Debt to equity
1.44▼
2023 · 2.23
ROE
18.0%▲
2023 · -2.6%
ROA
7.4%▲
2023 · -0.8%
Interest coverage
10.74▲
2023 · 6.98
Debt ≤ 1 year
€1.69M▼
2023 · €1.79M
Debt > 1 year
€1.65M▼
2023 · €2.18M
Income taxes
€692▼
2023 · €721
Staff costs
€375k▼
2023 · €453k
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 · 2024 against 2023 · 57 lines
Balance sheet
Code20232024
Assets
Total assets20/58€5.75M€5.68M▼
Fixed assets21/28€5.28M€5.11M▼
Intangible fixed assets21€21k€12k▼
Tangible fixed assets22/27€2.99M€2.82M▼
Plant, machinery and equipment23€67k€41k▼
Furniture and vehicles24€245k€143k▼
Other tangible fixed assets26€2.68M€2.64M▼
Financial fixed assets28€2.27M€2.27M=
Current assets29/58€471k€579k▲
Amounts receivable within one year40/41€389k€504k▲
Trade receivables40€389k€504k▲
Other amounts receivable41-€185
Cash at bank and in hand54/58€46k€5k▼
Deferred charges and accrued income490/1€37k€70k▲
Equity and liabilities
Total equity and liabilities10/49€5.75M€5.68M▼
Equity10/15€1.78M€2.33M▲
Contributions10/11€1.70M€2.20M▲
Capital10€1.70M€2.20M▲
Issued capital100€1.70M€2.20M▲
Reserves13€107k€128k▲
Non-distributable reserves130/1€107k€128k▲
Legal reserve130€107k€128k▲
Profit (loss) carried forward14€-33k€1k▲
Amounts payable17/49€3.97M€3.35M▼
Amounts payable after more than one year17€2.18M€1.65M▼
Financial debts170/4€1.68M€1.40M▼
Other amounts payable178/9€500k€250k▼
Amounts payable within one year42/48€1.79M€1.69M▼
Current portion of amounts payable after more than one year42€275k€275k=
Trade debts44€843k€470k▼
Suppliers440/4€843k€470k▼
Taxes, remuneration and social security45€138k€130k▼
Taxes450/3€49k€71k▲
Remuneration and social security454/9€89k€59k▼
Other amounts payable47/48€538k€819k▲
Accrued charges and deferred income492/3-€5k
Income statement
Code20232024
Remuneration, social security and pensions62€453k€375k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€433k€438k▲
Other operating charges640/8€3k€57k▲
Gross operating margin9900€884k€1.17M▲
Operating profit (loss)9901€-5k€301k▲
Financial income75/76B€20k€189k▲
Recurring financial income75€20k€189k▲
Financial charges65/66B€61k€69k▲
Recurring financial charges65€61k€69k▲
Profit (loss) for the period before taxes9903€-46k€422k▲
Income taxes67/77€721€692▼
Profit (loss) for the period9904€-47k€421k▲
Profit (loss) for the period to be appropriated9905€-47k€421k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-46k€388k▲
Profit (loss) brought forward from the previous period14P€663€-33k▼
Transfer from equity791/2€14k-
Transfer to equity691/2-€21k
To the legal reserve6920-€21k
Profit to be distributed694/7-€366k
Return on contributions (dividend)694-€366k
Social balance
Average headcount (FTE)90875.85.1▼
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €27k | - | - | - | - |
| Remuneration, social security and pensions62 | - | €412k | €393k | €453k | €375k | ▼ 17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €281k | €355k | €422k | €433k | €438k | ▲ 1.1% |
| Other operating charges640/8 | - | €16k | €17k | €3k | €57k | ▲ 1,943% |
| Non-recurring operating charges66A | - | €62k | - | - | - | - |
| Gross operating margin9900 | €793k | €797k | €641k | €884k | €1.17M | ▲ 32.5% |
| Operating profit (loss)9901 | €118k | €-48k | €-191k | €-5k | €301k | ▲ 6,748% |
| Financial income75/76B | - | €225k | €31k | €20k | €189k | ▲ 855% |
| Recurring financial income75 | €24k | €225k | €31k | €20k | €189k | ▲ 855% |
| Financial charges65/66B | - | €44k | €57k | €61k | €69k | ▲ 12.1% |
| Recurring financial charges65 | €76k | €44k | €57k | €61k | €69k | ▲ 12.1% |
| Profit (loss) for the period before taxes9903 | €65k | €134k | €-218k | €-46k | €422k | ▲ 1,014% |
| Income taxes67/77 | €14k | €21k | €666 | €721 | €692 | ▼ 4.0% |
| Profit (loss) for the period9904 | €51k | €113k | €-218k | €-47k | €421k | ▲ 999% |
| Profit (loss) for the period to be appropriated9905 | €51k | €113k | €-218k | €-47k | €421k | ▲ 999% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.56M | €6.05M | €5.72M | €5.75M | €5.68M | ▼ 1.1% |
| Formation expenses20 | €9k | €2k | - | - | - | - |
| Fixed assets21/28 | €5.41M | €5.63M | €5.51M | €5.28M | €5.11M | ▼ 3.3% |
| Intangible fixed assets21 | €27k | €42k | €30k | €21k | €12k | ▼ 43.0% |
| Tangible fixed assets22/27 | €3.11M | €3.32M | €3.21M | €2.99M | €2.82M | ▼ 5.5% |
| Plant, machinery and equipment23 | - | €79k | €92k | €67k | €41k | ▼ 38.0% |
| Furniture and vehicles24 | - | €388k | €309k | €245k | €143k | ▼ 41.8% |
| Other tangible fixed assets26 | - | €2.85M | €2.81M | €2.68M | €2.64M | ▼ 1.4% |
| Financial fixed assets28 | €2.27M | €2.27M | €2.27M | €2.27M | €2.27M | = |
| Current assets29/58 | €141k | €418k | €211k | €471k | €579k | ▲ 22.9% |
| Amounts receivable within one year40/41 | €104k | €371k | €173k | €389k | €504k | ▲ 29.7% |
| Trade receivables40 | - | €371k | €171k | €389k | €504k | ▲ 29.7% |
| Other amounts receivable41 | - | €294 | €3k | - | €185 | - |
| Cash at bank and in hand54/58 | €26k | €15k | €5k | €46k | €5k | ▼ 89.3% |
| Deferred charges and accrued income490/1 | - | €32k | €33k | €37k | €70k | ▲ 91.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.56M | €6.05M | €5.72M | €5.75M | €5.68M | ▼ 1.1% |
| Equity10/15 | €1.93M | €2.04M | €1.83M | €1.78M | €2.33M | ▲ 31.2% |
| Contributions10/11 | €1.70M | €1.70M | €1.70M | €1.70M | €2.20M | ▲ 29.3% |
| Capital10 | - | €1.70M | €1.70M | €1.70M | €2.20M | ▲ 29.3% |
| Issued capital100 | - | €1.70M | €1.70M | €1.70M | €2.20M | ▲ 29.3% |
| Reserves13 | €213k | €322k | €117k | €107k | €128k | ▲ 19.7% |
| Non-distributable reserves130/1 | - | €107k | €107k | €107k | €128k | ▲ 19.7% |
| Legal reserve130 | - | €107k | €107k | €107k | €128k | ▲ 19.7% |
| Distributable reserves133 | - | €215k | €10k | - | - | - |
| Profit (loss) carried forward14 | €3k | €10k | €663 | €-33k | €1k | ▲ 105% |
| Investment grants15 | - | €7k | €4k | - | - | - |
| Amounts payable17/49 | €3.63M | €4.00M | €3.90M | €3.97M | €3.35M | ▼ 15.6% |
| Amounts payable after more than one year17 | €2.31M | €2.23M | €2.45M | €2.18M | €1.65M | ▼ 24.1% |
| Financial debts170/4 | - | €2.23M | €1.95M | €1.68M | €1.40M | ▼ 16.4% |
| Other amounts payable178/9 | - | - | €500k | €500k | €250k | ▼ 50.0% |
| Amounts payable within one year42/48 | €1.32M | €1.78M | €1.45M | €1.79M | €1.69M | ▼ 5.6% |
| Current portion of amounts payable after more than one year42 | - | €275k | €275k | €275k | €275k | = |
| Trade debts44 | €608k | €856k | €920k | €843k | €470k | ▼ 44.3% |
| Suppliers440/4 | - | €856k | €920k | €843k | €470k | ▼ 44.3% |
| Taxes, remuneration and social security45 | - | €139k | €72k | €138k | €130k | ▼ 5.9% |
| Taxes450/3 | - | €67k | €16k | €49k | €71k | ▲ 44.1% |
| Remuneration and social security454/9 | - | €72k | €57k | €89k | €59k | ▼ 33.5% |
| Other amounts payable47/48 | - | €506k | €178k | €538k | €819k | ▲ 52.2% |
| Accrued charges and deferred income492/3 | - | - | €93 | - | €5k | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €51k | €113k | €-218k | €-47k | €421k | ▲ 999% |
| + Depreciation and write-downs630 | €281k | €355k | €422k | €433k | €438k | ▲ 1.1% |
| Operating cash flow (approximation) | €332k | €468k | €204k | €386k | €859k | ▲ 122% |
| Investment in fixed assets (approximation) | - | €-572k | €-307k | €-199k | €-265k | ▼ 33.1% |
| Change in cash | - | €-11k | €-10k | €41k | €-41k | ▼ 200% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €421k
Net result €421k after 2 loss-making years.
31-12
Financial
Equity above €2MEq €2.33M ▲31.2%
Equity rises from €1.78M to €2.33M.
18-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet €-218k
Net result drops to €-218k, the lowest in the series; recovery starts the following year.
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €2MEq €2.04M ▲5.8%
4 profitable years in a row build equity to €2.04M.
05-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
25-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Highest result since 2018net €1.50M ▲1,929%
Net result €1.50M, the highest in the series.
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Show earlier events
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
06-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
05-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 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
11 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 · 2 establishment units since 2001
Ground area
5,361 m²
Building footprint
659 m²
Volume, LiDAR
10,099 m³
2 parcels, Flanders · tallest building 23.3 m, ±5 floors. Linked by address, not a title deed.
29
companies at this address
See who is registered here
2 establishment units
Telco
since 20012.100.095.332
Telco
since 20172.259.716.255
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44806F0674/00F003 | Flanders | 4,881 m² | 1 · 609 m² | 23.3 m · 5 fl. |
| 44808H0719/00V000 | Flanders | 480 m² | 1 · 51 m² | 11.9 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 13,272 EUR awarded · 5,698 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 12,994 EUR | 5,420 EUR |
| 2023 | 1 | 278 EUR | 278 EUR |
Schemes
Onderzoekspremie voor beschermde monumenten en landschappen
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 12,020 companies in sector 68203 we hold annual accounts for 5,986. 3,485 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded27-12-2000
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
82100Office administrative and support services
46900Non-specialised wholesale trade
68110Buying and selling of own real estate
73200Market research and public opinion polling
77229Renting and leasing of other personal and household goods
Scores and ratios are computed by Checked and are not a credit decision.