Summary
Conclusion
the dossier summarised in one paragraphThe KBO register records legal situation 050 for TRANSFORCE (Register: open bankruptcy); this is today's state according to the register itself, which carries no start date. The 2023 annual accounts show negative equity (€-678k) and a net result of €-1.62M.
Based on the State Gazette, CBE and 3 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyoneBankruptcy opened
A bankruptcy procedure is already open, a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.
Insolvency timeline
1 events04-12-2024
Judicial reorganisation
Opening
Signals
1 signal · with evidenceNegative equity
Equity is negative for financial year 2023: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
View the annual accounts 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-wideFiling behaviour not assessed
The register records an open bankruptcy. From that point the trustee files and the ordinary seven-month rhythm no longer governs. The register carries no start date, so we cannot tell which filings fall before it: we show the facts and do not assess the behaviour.
Filed after the deadline
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 31-08-2024, 31 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.
How we compute the deadline
The year end is derived from 3 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 31-12-2023, that is 31-07-2024.
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 | nothing on record | not filed | - |
| 31-12-2023 | 31-07-2024 | 31-08-2024 | 31 d late | 2024-00433327 |
| 31-12-2022 | 31-07-2023 | 19-09-2023 | 50 d late | 2023-00448218 |
| 31-12-2021 | 31-07-2022 | 31-08-2022 | 31 d late | 2022-20369557 |
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 signalsRegister: open bankruptcy
The KBO register records legal situation 050 for this company. This is today's state according to the register itself; the register carries no start date.
In judicial reorganisation
Ongoing procedure under court protection (Book XX WER). The company is restructuring.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Financials
TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€-1.62M-65.7%
Working capital€-813k-343.4%
Annual accounts & ratios
Source: NBB · 2023Annual accounts filed on 31-08-2024 with the NBB · fiscal year 2023 · verkort
Sector comparison
Fiscal year 2023 · NACE 49, Land transport · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -100.1% | 28.7% | |
| Net result | €-1.62M | €34k | |
| Equity | €-678k | €159k | |
| Gross operating margin | €-419k | €493k | |
| Staff costs | €1.01M | €442k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P5
Weakening position over 2021-2023
· n=132-175
P5
Stable position over 2021-2023
· n=132-175
P5
Weakening position over 2021-2023
· n=132-175
P5
Stable position over 2021-2023
· n=132-175
Describes the position versus peers, not a forecast.
€-1.45M
-65.9%
21-23
€-1.62M
-65.7%
21-23
€-1.51M
-67.1%
21-23
€677k
+27.8%
21-23
€-678k
-178.5%
21-23
€-813k
-343.4%
21-23
24
+115.0%
21-23
€1.01M
+118.1%
21-23
€789
-
21-23
€1.36M
+75.2%
21-23
€1.02M
+160.5%
21-23
€316k
-14.4%
21-23
0.20
-61.6%
21-23
0.20
-61.6%
21-23
-100.1%
-117.9%
21-23
-2.00
+37.1%
21-23
238.7%
-40.5%
21-23
-239.1%
-29.7%
21-23
-23.98
+15.2%
21-23
Figures by fiscal year
| Fiscal year | 2023 |
|---|---|
| Deposit | verkort |
| Revenue | - |
| EBITDA | €-1.45M |
| Net profit | €-1.62M |
| Cash flow | €-1.51M |
| Staff costs | €1.01M |
| Income taxes | €789 |
| Dividends | - |
| Total assets | €677k |
| Equity | €-678k |
| Debt | €1.36M |
| of which ≤ 1y | €1.02M |
| of which > 1y | €316k |
| Working capital | €-813k |
| Employees (FTE) | 24.3 |
Ratios (computed)
| 2023 | |
|---|---|
| Current ratio | 0.20 |
| Quick ratio | 0.20 |
| Working capital ratio | -120.0% |
| Solvency | -100.1% |
| Debt / equity | -2.00 |
| Long-term debt ratio | -0.47 |
| Interest coverage | -23.98 |
| Gross margin | - |
| Net margin | - |
| ROA | -239.1% |
| ROE | 238.7% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2023
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2023 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €677k |
| Fixed assets | 21/28 | €452k |
| Formation expenses | 20 | €16k |
| Intangible fixed assets | 21 | €17k |
| Tangible fixed assets | 22/27 | €374k |
| Financial fixed assets | 28 | €61k |
| Current assets | 29/58 | €209k |
| Amounts receivable within one year | 40/41 | €191k |
| Cash & bank | 54/58 | €12k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €677k |
| Equity | 10/15 | €-678k |
| Contributions / capital | 10/11 | €2.04M |
| Accumulated profits (losses) | 14 | €-2.76M |
| Amounts payable | 17/49 | €1.36M |
| Amounts payable after one year | 17 | €316k |
| Amounts payable within one year | 42/48 | €1.02M |
| Trade debts payable within one year | 44 | €340k |
| Income statement | ||
| Gross operating margin | 9900 | €-419k |
| Operating result | 9901 | €-1.56M |
| Financial income | 75 | €7 |
| Financial charges | 65 | €60k |
| Result before taxes | 9903 | €-1.62M |
| Income taxes | 67/77 | €789 |
| Net result for the period | 9904 | €-1.62M |
| Result to be appropriated | 9905 | €-1.62M |
You're seeing the latest fiscal year only. Unlock 2 prior years (figures + ratios) with a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2023 · computed0
/ 100
Critical
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 from Kantoor S.
See plans →Computed by Checked from the NBB filing for FY 2023 and the legal situation the KBO register itself records. Indicative, not credit advice.
Structure & network
Locations & real estate
Registered office
from the Crossroads BankCannot 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.
Walenstraat 63A3500 HasseltEstablishment units
2 locationsTRANSFORCE
since 20162.256.694.805
Transforce
since 20222.344.464.660
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels2
Ground area1.8 ha
Buildings2
Building footprint7,165 m²
Volume (LiDAR)32,796 m³
Tallest building9.6 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
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44038A0046/00C002 | Flanders | 9,704 m² | 1 · 2,788 m² | 9.6 m |
| 71322A0543/00T000 | Flanders | 8,547 m² | 1 · 4,376 m² | 7.7 m · 2 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Publications
Lifecycle & Insolvency Signals
1 event from the State Gazette04-12-2024
Judicial reorganisation
Opening
Time machine: BS events + macro context
2021-2026Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event
Belgisch Staatsblad · acts
2 acts Capital history · 2
14-12-2023
Capital change
06-01-2023
Capital change
All acts · 2
updated 2 years ago
2023
14-12-2023 Capital increase of €774,570.56
06-01-2023 Capital increase of €356,283.91 to €551,383.91
- €195.100 → €551.383,91
- 2 kapitaalbewegingen in deze akte
Notary:
Mireille Bedert · Ternat
Analysis
Snowflake analysis
financial profile on 5 axes33
/ 100
Fragile profile, watch health in particular.
All 5 axes are computed from data Checked has read.
Health
0
Profitability
100
Solvency
33
Growth
32
Stability
0
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We hold annual accounts for 2,163 of the 12,432 companies in this sector. 1,840 of them are within a factor 10 of this company's equity.
Company registry
Company registry (CBE)
Crossroads BankActivities
Goederenvervoer over de weg, m.u.v. verhuisbedrijven49410Goederenvervoer over de weg49410Overige posterijen en koeriers53200Overige posterijen en koeriers53200
Primary activity highlighted.
Names & trade names
| Legal nameNL | TRANSFORCE |
| Trade nameNL | TRANSFORCE |
Registered office
Walenstraat 63A
3500 Hasselt, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.