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Checked processes every Belgian company, act by act, from the Belgian Official Gazette. The data below is real and verified, this company's full, act-by-act verified dossier is still being assembled.
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Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of TerraShield is 3.2% (moderate). The 2024 annual accounts show equity of €32k and a net result of €28k. Its solvency ranks better than 82% of 11087 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 2 annual accounts.
Signals
1 signal · with evidenceStrong solvency vs sector
Solvency is in the sector's strongest quartile: better than 82% of 11087 peers (2024). A comfortable equity buffer.
View the sector comparison Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.
Filing behaviour
From the deposit records, complete market-wideDeadline passed, not yet counted as missing
The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 10 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.
Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-07-2025, 1 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.
How we compute the deadline
The year end is derived from 2 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.
Deadline per financial year
| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 31-12-2025 | 31-07-2026 | nothing on record | not filed | - |
| 31-12-2024 | 31-07-2025 | 30-07-2025 | 1 d early | 2025-00330244 |
| 31-12-2023 | 31-07-2024 | 21-08-2024 | 21 d late | 2024-00357416 |
Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
2 signalsMore than 3 years active
Founded in 2021, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No administrative flags
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone3.2%
Moderate
0%0,5%1,5%4%10%≥25%
Young company
+Higher-failure-rate sector
+Multiple establishment units
+
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Financials
TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€28k
Working capital€18k
Annual accounts & ratios
Source: NBB · 2024Annual accounts filed on 30-07-2025 with the NBB · fiscal year 2024 · micro
Sector comparison
Fiscal year 2024 · NACE 43, Specialised construction · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 69.6% | 40.9% | |
| Net result | €28k | €11k | |
| Equity | €32k | €34k | |
| Gross operating margin | €47k | €35k | |
| Total assets | €45k | €93k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
€47k
+2630.7%
23-24
€28k
-
23-24
€32k
+2581.5%
23-24
€45k
+185.6%
23-24
€32k
+671.0%
23-24
€18k
-
23-24
€14k
+8131.0%
23-24
€14k
+17.0%
23-24
€14k
+17.0%
23-24
2.30
+170.8%
23-24
2.30
+170.8%
23-24
69.6%
+170.0%
23-24
0.44
-84.8%
23-24
87.0%
-
23-24
60.6%
-
23-24
66.42
+1272.7%
23-24
Figures by fiscal year
| Fiscal year | 2024 |
|---|---|
| Deposit | micro |
| Revenue | - |
| EBITDA | €47k |
| Net profit | €28k |
| Cash flow | €32k |
| Staff costs | - |
| Income taxes | €14k |
| Dividends | - |
| Total assets | €45k |
| Equity | €32k |
| Debt | €14k |
| of which ≤ 1y | €14k |
| of which > 1y | - |
| Working capital | €18k |
| Employees (FTE) | - |
Ratios (computed)
| 2024 | |
|---|---|
| Current ratio | 2.30 |
| Quick ratio | 2.30 |
| Working capital ratio | 39.5% |
| Solvency | 69.6% |
| Debt / equity | 0.44 |
| Long-term debt ratio | - |
| Interest coverage | 66.42 |
| Gross margin | - |
| Net margin | - |
| ROA | 60.6% |
| ROE | 87.0% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2024
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €45k |
| Fixed assets | 21/28 | €14k |
| Tangible fixed assets | 22/27 | €14k |
| Current assets | 29/58 | €32k |
| Cash & bank | 54/58 | €32k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €45k |
| Equity | 10/15 | €32k |
| Contributions / capital | 10/11 | €2k |
| Reserves | 13 | €30k |
| Amounts payable | 17/49 | €14k |
| Amounts payable within one year | 42/48 | €14k |
| Trade debts payable within one year | 44 | €6k |
| Income statement | ||
| Gross operating margin | 9900 | €47k |
| Operating result | 9901 | €42k |
| Financial income | 75 | €23 |
| Financial charges | 65 | €704 |
| Result before taxes | 9903 | €42k |
| Income taxes | 67/77 | €14k |
| Net result for the period | 9904 | €28k |
| Result to be appropriated | 9905 | €28k |
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Ratios computed by Checked.
Health barometer
FY 2024 · computed100
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.
See plans →Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Directors
Directors & mandates
1 directorCurrent directors & mandates
-
Kevin NelenDirectorState Gazette act 25119237 (22-09-2025)Current01-08-2025 → present
2 events
- 01-08-2025 Appointed· Director
- 01-08-2025 Appointed· Daily management
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Schrijnwerk(43320) |
| Legal form | Private limited company(610) |
| Incorporation | 12-05-2021 |
| Status | Active |
| Postal code | 9170 |
Structure & network
Locations & real estate
Registered office
on the map · from the address register
seat.Municipality
exact location from the address register
Establishment units
2 locationsTerraShield
since 20212.317.100.069
TerraShield
since 20252.371.944.265
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels3
Ground area6,382 m²
Buildings2
Building footprint428 m²
Volume (LiDAR)2,293 m³
Tallest building9.3 m · ±2 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46014A0243/00M003 | Flanders | 4,837 m² | - | - |
| 46022A1147/00C000 | Flanders | 1,103 m² | 1 · 308 m² | 7.7 m · 2 fl. |
| 46382B0548/00E000 | Flanders | 442 m² | 1 · 120 m² | 9.2 m · 2 fl. |
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
2 acts All acts · 2
updated 10 months ago
2025
22-09-2025 2 directors appointed
- Kevin Nelen, Bestuurder
- Kevin Nelen, Dagelijks bestuur
2024
03-01-2024 Publication in the Belgian Official Gazette, Minor change
Summary:
Fusion completedNotary:
Lieven Demolder · Eeklo
Analysis
Snowflake analysis
financial profile on 5 axes94
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
100
Profitability
100
Solvency
100
Growth
78
Stability
94
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verdict per customer and amountSimilar
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Company registry (CBE)
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Primary activity highlighted.
Names & trade names
| Legal nameNL | TerraShield |
Registered office
Potterstraat(SP) 182
9170 Sint-Gillis-Waas, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.