TRANS RESEARCH
ActiveTRANS RESEARCH has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.37M and a net result of €1.47M. Equity is growing by ~2.6% per year across the filed fiscal years. Its solvency ranks better than 45% of 8596 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
100
/ 100
Excellent▲ +93 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency97▲+64
Growth78▲+46
Stability100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €140k at 30 days acceptable
Liquidity ample (current ratio 4.56 against 0.21 in 2024), but 52.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 52
Relative position
BE, all sectors
reference
Sector 52
higher
← 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
47.2%
Return on assets
50.8%
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 · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-09-2026, 39 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
39 d late
2024
20 d late
2023
8 d late
2022
40 d early
2021
5 d early
2020
15 d early
2019
22 d early
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.37M
2024 · €-103k
2018: €363k
2019: €374k
2020: €392k
2021: €406k
2022: €405k
2023: €403k
2024: €-103k
2018 → 2025
Total assets
€2.90M▲ 57.1%
2024 · €1.84M
2018: €1.89M
2019: €1.76M
2020: €1.85M
2021: €2.00M
2022: €1.93M
2023: €1.92M
2024: €1.84M
2018 → 2025
Net result
€1.47M
2024 · €-506k
2018: €1k
2019: €10k
2020: €18k
2021: €14k
2022: €-923
2023: €-2k
2024: €-506k
2018 → 2025
Working capital
€1.93M
2024 · €-613k
2018: €49k
2019: €37k
2020: €105k
2021: €-30k
2022: €14k
2023: €60k
2024: €-613k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€406k-€405k▼ 0.2%€403k▼ 0.4%€-103k€1.37M
Operating result€39k-€20k▼ 48.8%€18k▼ 7.6%€-479k€2.13M
Net result€14k-€-923€-2k▼ 85.0%€-506k▼ 29,520%€1.47M
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 2025: €2.13M after a loss of €479k in 2024, the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.90M
Fixed assets
€421k▼ 74.9%
Current assets
€2.48M▲ 1,409%
Equity and liabilities €2.90M
Equity
€1.37M
Provisions
€635k
Debt
€895k
Debt finances 30.9% of the balance-sheet total.
Key figures and ratios
EBITDA
€2.25M▲
2024 · €-326k
Cash flow
€1.59M▲
2024 · €-354k
Solvency
47.2%▲
2024 · -5.6%
Current ratio
4.56▲
2024 · 0.21
Quick ratio
4.54▲
2024 · 0.20
Debt / equity
0.65▲
2024 · -18.88
ROE
107.5%▼
2024 · 490.6%
ROA
50.8%▲
2024 · -27.4%
Interest coverage
118.17▲
2024 · -11.87
Debt
€895k▼
2024 · €1.95M
Debt ≤ 1 year
€543k▼
2024 · €777k
Debt > 1 year
€351k▼
2024 · €1.17M
Income taxes
€0▼
2024 · €34
Staff costs
€203k▲
2024 · €85k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.84M€2.90M▲
Fixed assets21/28€1.68M€421k▼
Intangible fixed assets21€44k€81k▲
Tangible fixed assets22/27€1.64M€340k▼
Land and buildings22€1.35M€0▼
Plant, machinery and equipment23€187k€255k▲
Furniture and vehicles24€28k€19k▼
Other tangible fixed assets26€66k€66k=
Current assets29/58€164k€2.48M▲
Stocks and contracts in progress3€9k€9k▲
Stocks30/36€9k€9k▲
Amounts receivable within one year40/41€149k€2.45M▲
Trade receivables40€73k€84k▲
Other amounts receivable41€77k€2.36M▲
Cash at bank and in hand54/58€5k€6k▲
Deferred charges and accrued income490/1-€15k
Equity and liabilities
Total equity and liabilities10/49€1.84M€2.90M▲
Equity10/15€-103k€1.37M▲
Contributions10/11€200k€200k=
Reserves13€20k€1.93M▲
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Tax-exempt reserves132-€1.91M
Distributable reserves133€20k€20k=
Profit (loss) carried forward14€-323k€-758k▼
Provisions and deferred taxes16-€635k
Deferred taxes168-€635k
Amounts payable17/49€1.95M€895k▼
Amounts payable after more than one year17€1.17M€351k▼
Financial debts170/4€1.17M€351k▼
Amounts payable within one year42/48€777k€543k▼
Current portion of amounts payable after more than one year42€243k€175k▼
Trade debts44€233k€320k▲
Suppliers440/4€233k€320k▲
Taxes, remuneration and social security45€11k€48k▲
Taxes450/3€609€17k▲
Remuneration and social security454/9€10k€31k▲
Other amounts payable47/48€290k€0▼
Accrued charges and deferred income492/3€1€0▼
Income statement
Code20242025
Non-recurring operating income76A-€2.60M
Remuneration, social security and pensions62€85k€203k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€152k€123k▼
Other operating charges640/8€17k€18k▲
Non-recurring operating charges66A-€134k
Gross operating margin9900€-224k€2.60M▲
Operating profit (loss)9901€-479k€2.13M▲
Financial income75/76B€5€0▼
Recurring financial income75€5€0▼
Financial charges65/66B€27k€19k▼
Recurring financial charges65€27k€19k▼
Profit (loss) for the period before taxes9903€-506k€2.11M▲
Transfer to deferred taxes680-€635k
Income taxes67/77€34€0▼
Profit (loss) for the period9904€-506k€1.47M▲
Transfer to tax-exempt reserves689-€1.91M
Profit (loss) for the period to be appropriated9905€-506k€-434k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-323k€-758k▼
Profit (loss) brought forward from the previous period14P€183k€-323k▼
Social balance
Average headcount (FTE)90871.53.5▲
The notes to these accounts (22 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
08-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 39 days late
2025
31-12
Financial
Back to profitnet €1.47M
Net result €1.47M after 3 loss-making years.
31-12
Financial
Liquidity times 22current ratio 4.56
Current ratio from 0.21 to 4.56; short-term debt falls from €777k to €543k.
31-12
Financial
Equity above €1MEq €1.37M
Equity rises from €-103k to €1.37M.
20-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 20 days late
2024
31-12
Financial
Weakest financial yearnet €-506k
Net result drops to €-506k, the lowest in the series; recovery starts the following year.
08-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 8 days late
2023
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
10-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
01-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 1 day late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Leuven · 1 establishment unit since 2006
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.
Geldenaaksebaan 4893001 LeuvenGround area
956 m²
Parcel 24433E0139/00T004, Flanders. Linked by address, not a title deed.
1 establishment unit
Trans Research
since 20062.152.575.795
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24433E0139/00T004 | Flanders | 956 m² | - | - |
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
2023 to 2024 · 3 entries · 4,000 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 2 | 0 EUR | 0 EUR |
| 2023 | 1 | 4,000 EUR | 0 EUR |
Schemes
Subsidie vergroening mobiliteit - omschakeling naar zero-emissie en alternatieve brandstoffen
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Of 3,174 companies in sector 52250 we hold annual accounts for 1,945. 1,129 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded30-01-2006
Fiscal year end31-12
Activities, NACEBEL
52250Logistics services
52290Warehousing and support activities for transportation
70200Business and other management consultancy
70220Business consulting
74142
50200
52210Service activities incidental to land transportation
Sources
Crossroads Bank for EnterprisesNational Bank · 19 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.