TGS PROJECTS
TGS PROJECTS has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €575k and a net result of €147k. Equity is growing by ~31.1% per year across the filed fiscal years. Its solvency ranks better than 62% of 467 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
| Equity | €575k |
| Net result | €147k |
| Better than sector | 62% |
| Publications | 3 |
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 59.9% | 46.6% | |
| Net result | €147k | €23k | |
| Equity | €575k | €183k | |
| Gross operating margin | €192k | €79k | |
| Total assets | €961k | €556k |
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | micro schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - | - |
| EBITDA | - | - | - | - | - |
| Net profit | €147k | €146k | €145k | €128k | €140k |
| Cash flow | - | - | - | - | - |
| Staff costs | - | - | - | - | - |
| Income taxes | €49k | €49k | €49k | €44k | €48k |
| Dividends | €118k | €15k | €833 | €800 | €800 |
| Total assets | €961k | €878k | €626k | €530k | €434k |
| Equity | €575k | €546k | €416k | €271k | €144k |
| Debt | €385k | €332k | €210k | €259k | €290k |
| of which ≤ 1y | €147k | €52k | €93k | €100k | €92k |
| of which > 1y | €238k | €280k | €118k | €158k | €198k |
| Working capital | €314k | €326k | €233k | €130k | €43k |
| Employees (FTE) | - | - | - | - | - |
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 3.13 | 7.23 | 3.52 | 2.29 | 1.46 |
| Quick ratio | 3.13 | 7.23 | 3.52 | 2.29 | 1.46 |
| Working capital ratio | 32.7% | 37.1% | 37.2% | 24.5% | 9.8% |
| Solvency | 59.9% | 62.2% | 66.4% | 51.2% | 33.2% |
| Debt / equity | 0.67 | 0.61 | 0.51 | 0.95 | 2.02 |
| Long-term debt ratio | 0.41 | 0.51 | 0.28 | 0.58 | 1.38 |
| Interest coverage | - | - | - | - | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 15.3% | 16.6% | 23.2% | 24.2% | 32.2% |
| ROE | 25.6% | 26.7% | 34.9% | 47.2% | 97.1% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Full annual accounts (24 line items)
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €961k | €878k | €626k | €530k | €434k |
| Fixed assets | 21/28 | €500k | €500k | €300k | €300k | €300k |
| Financial fixed assets | 28 | €500k | €500k | €300k | €300k | €300k |
| Current assets | 29/58 | €461k | €378k | €326k | €230k | €134k |
| Amounts receivable within one year | 40/41 | €140k | €79k | €94k | €61k | €10k |
| Investments | 50/53 | €29k | €23k | €17k | €10k | €5k |
| Cash & bank | 54/58 | €81k | €59k | €10k | €77k | €89k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €961k | €878k | €626k | €530k | €434k |
| Equity | 10/15 | €575k | €546k | €416k | €271k | €144k |
| Contributions / capital | 10/11 | €5k | €5k | €5k | €5k | €5k |
| Reserves | 13 | €570k | €541k | €410k | €266k | €139k |
| Accumulated profits (losses) | 14 | €0 | €0 | €517 | €438 | €48 |
| Amounts payable | 17/49 | €385k | €332k | €210k | €259k | €290k |
| Amounts payable after one year | 17 | €238k | €280k | €118k | €158k | €198k |
| Amounts payable within one year | 42/48 | €147k | €52k | €93k | €100k | €92k |
| Trade debts payable within one year | 44 | €1k | €881 | €364 | €415 | €1k |
| Income statement | ||||||
| Gross operating margin | 9900 | €192k | €192k | €192k | €173k | €197k |
| Operating result | 9901 | €191k | €191k | €191k | €173k | €196k |
| Financial income | 75 | €6k | €6k | €5k | €2k | - |
| Financial charges | 65 | €742 | €2k | €2k | €3k | €8k |
| Result before taxes | 9903 | €197k | €195k | €194k | €172k | €188k |
| Income taxes | 67/77 | €49k | €49k | €49k | €44k | €48k |
| Net result for the period | 9904 | €147k | €146k | €145k | €128k | €140k |
| Result to be appropriated | 9905 | €147k | €146k | €145k | €128k | €140k |
| NACE primary | Other information service activities(63920) |
| Legal form | Private limited company(610) |
| Incorporation | 14-02-2020 |
| Status | Inactive |
| Postal code | 9700 |
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45035A0200/00B005 | Flanders | 559 m² | 1 · 75 m² | 11.5 m · 3 fl. |
27-03
State Gazette act
RestructuringMerger · Net-asset statement · Accounting effect6 facts ▸
- Merger, 13.03.2026
- Net-asset statement, 31.12.2025
- Net-asset statement, 31.12.2025
- Accounting effect, 01.01.2026
- Power of attorney, D&P Menen BV
- Power of attorney, D&P Menen BV
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
27-03-2026 Act object · Merger · Net asset statement · Accounting effect
- Act object: Uittreksel fusievoorstel d.d.13.03.2026 · TGS PROJECTS
- Publication: 27/03/2026 · TGS PROJECTS
- Filing: 19 MAART 2026 · TGS PROJECTS
- Merger: date: 13.03.2026 · CTRS PROJECTS
- Net asset statement: date: 31.12.2025, amount: 575433.34, currency: EUR · CTRS PROJECTS
- Net asset statement: date: 31.12.2025, amount: 575433.34, currency: EUR · TGS PROJECTS
- Accounting effect: 01.01.2026 · CTRS PROJECTS
- Power of attorney: neerleggings- en publicatieverplichtingen te vervullen in uitvoering van onderhavig fusievoorstel · D&P Menen BV
- Power of attorney: neerleggings- en publicatieverplichtingen te vervullen in uitvoering van onderhavig fusievoorstel · D&P Menen BV
Technical details
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}27-03-2026 Act object · Notarial deed · Merger · Net asset statement
- Act object: Uittreksel fusievoorstel d.d. 13.03.2026 · CTRS PROJECTS
- Publication: 27/03/2026 · CTRS PROJECTS
- Filing: 19 MAART 2026 · CTRS PROJECTS
- Notarial deed: 13.03.2026 · CTRS PROJECTS
- Merger · CTRS PROJECTS
- Net asset statement: date: 31.12.2025, amount: 575433.34, currency: EUR · CTRS PROJECTS
- Net asset statement: date: 31.12.2025, amount: 575433.34, currency: EUR · TGS PROJECTS
- Accounting effect: 01.01.2026 · CTRS PROJECTS
- Power of attorney: om alle wettelijk vereiste en alle andere nodige neerleggings- en publicatieverplichtingen te vervullen in uitvoering van onderhavig fusievoorstel · D&P Menen BV
- Power of attorney: om alle wettelijk vereiste en alle andere nodige neerleggings- en publicatieverplichtingen te vervullen in uitvoering van onderhavig fusievoorstel · D&P Menen BV
Technical details
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}09-11-2023 Registered office moved within Oudenaarde
- Broekstraat 49, 9700 Oudenaarde → Bulkendreef 25, 9700 Oudenaarde
Technical details
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}| Legal nameNL | TGS PROJECTS |