Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of TRX is < 0.1% (very low). The 2025 annual accounts show equity of €978k and a net result of €-106k. Equity is growing by ~10.3% per year across the filed fiscal years. Its solvency ranks better than 48% of 213 sector peers (fiscal year 2025). The company has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 8 annual accounts.
Filing behaviour
From the deposit records, complete market-wideLatest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-04-2026, 98 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.
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.
How we compute the deadline
The year end is derived from 10 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 31-12-2025, that is 31-07-2026.
Deadline per financial year
| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 31-12-2025 | 31-07-2026 | 24-04-2026 | 98 d early | 2026-00087141 |
| 31-12-2024 | 31-07-2025 | 25-04-2025 | 97 d early | 2025-00076271 |
| 31-12-2023 | 31-07-2024 | 12-04-2024 | 110 d early | 2024-00062137 |
| 31-12-2022 | 31-07-2023 | 03-07-2023 | 28 d early | 2023-00198639 |
| 31-12-2021 | 31-07-2022 | 03-06-2022 | 58 d early | 2022-20046064 |
| 31-12-2020 | 31-07-2021 | 28-05-2021 | 64 d early | 2021-15900415 |
| 31-12-2019 | 31-07-2020 | 29-06-2020 | 32 d early | 2020-22100283 |
| 31-12-2018 | 31-07-2019 | 20-05-2019 | 72 d early | 2019-13700200 |
| 31-12-2017 | 31-07-2018 | 30-03-2018 | 123 d early | 2018-08700423 |
| 31-12-2016 | 31-07-2017 | 18-04-2017 | 104 d early | 2017-09500558 |
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 signalsLong-established
Founded in 2004, 22 years in business.
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 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.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone< 0.1%
Very low
0%0,5%1,5%4%10%≥25%
Lower-risk legal form
−Lower-failure-rate sector
−Long track record
−
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€-106k
Working capital€369k-40.0%
Annual accounts & ratios
Source: NBB · 2025Annual accounts filed on 24-04-2026 with the NBB · fiscal year 2025 · verkort
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~10.3%/year over 8 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
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).
Sector comparison
Fiscal year 2025 · NACE 90 · compared across all schema types (micro, abbreviated and full combined)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 39.6% | 43.4% | |
| Net result | €-106k | €9k | |
| Equity | €978k | €39k | |
| Gross operating margin | €1.64M | €22k | |
| Staff costs | €1.54M | €57k |
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).
P48
Stable position over 2020-2025
· n=154-726
P5
Stable position over 2020-2025
· n=154-726
P95
Stable position over 2020-2025
· n=154-727
P95
Stable position over 2020-2025
· n=150-724
Describes the position versus peers, not a forecast.
€46k
-91.9%
18-25
€-106k
-
18-25
€22k
-96.0%
18-25
€2.47M
+8.4%
18-25
€978k
-11.4%
18-25
€369k
-40.0%
18-25
21
-3.3%
18-25
€1.54M
+9.9%
18-25
€1.49M
+26.9%
18-25
€1.44M
+26.5%
18-25
€6k
-
18-25
1.26
-18.4%
18-25
1.19
-20.2%
18-25
39.6%
-18.2%
18-25
1.52
+43.3%
18-25
-10.9%
-
18-25
-4.3%
-
18-25
1.83
-90.4%
18-25
Figures by fiscal year
| Fiscal year | 2025 |
|---|---|
| Deposit | verkort |
| Revenue | - |
| EBITDA | €46k |
| Net profit | €-106k |
| Cash flow | €22k |
| Staff costs | €1.54M |
| Income taxes | - |
| Dividends | - |
| Total assets | €2.47M |
| Equity | €978k |
| Debt | €1.49M |
| of which ≤ 1y | €1.44M |
| of which > 1y | - |
| Working capital | €369k |
| Employees (FTE) | 20.6 |
Ratios (computed)
| 2025 | |
|---|---|
| Current ratio | 1.26 |
| Quick ratio | 1.19 |
| Working capital ratio | 14.9% |
| Solvency | 39.6% |
| Debt / equity | 1.52 |
| Long-term debt ratio | - |
| Interest coverage | 1.83 |
| Gross margin | - |
| Net margin | - |
| ROA | -4.3% |
| ROE | -10.9% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2025
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €2.47M |
| Fixed assets | 21/28 | €656k |
| Intangible fixed assets | 21 | €43k |
| Tangible fixed assets | 22/27 | €609k |
| Financial fixed assets | 28 | €4k |
| Current assets | 29/58 | €1.81M |
| Stocks & contracts in progress | 3 | €94k |
| Amounts receivable within one year | 40/41 | €214k |
| Cash & bank | 54/58 | €1.39M |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €2.47M |
| Equity | 10/15 | €978k |
| Reserves | 13 | €801k |
| Amounts payable | 17/49 | €1.49M |
| Amounts payable within one year | 42/48 | €1.44M |
| Trade debts payable within one year | 44 | €280k |
| Income statement | ||
| Gross operating margin | 9900 | €1.64M |
| Operating result | 9901 | €-82k |
| Financial income | 75 | €616 |
| Financial charges | 65 | €25k |
| Result before taxes | 9903 | €-106k |
| Net result for the period | 9904 | €-106k |
| Result to be appropriated | 9905 | €-106k |
You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2025 · computed53
/ 100
Fair
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 2025. Indicative, not credit advice.
Directors
Directors & mandates
under verificationDirectors derived from a single State Gazette act, under verification
All 5 current directors first appear in the same act (24102866). Founders or capital subscribers may have been counted as directors here; the real board composition is being verified.
Current directors & mandates
-
Kasper StuartDirectorState Gazette act 24102866 (08-07-2024)Current08-07-2024 → present
-
Leander CoorevitsDaily managementState Gazette act 24102866 (08-07-2024)Current08-07-2024 → present
-
Margot HermansDirectorState Gazette act 24102866 (08-07-2024)Current08-07-2024 → present
-
Tessa JorisDirectorState Gazette act 24102866 (08-07-2024)Current08-07-2024 → present
-
Youniss AhamadVice-chairState Gazette act 24102866 (08-07-2024)Current08-07-2024 → present
Former directors (9)
-
Ann KerremansChairState Gazette act 24102866 (08-07-2024)Former- → 08-07-2024
-
Dieter SermeusDaily managementState Gazette act 24102866 (08-07-2024)Former- → 08-07-2024
-
Katrien GoosensDirectorState Gazette act 24102866 (08-07-2024)Former- → 08-07-2024
-
Kenneth StockletDirectorState Gazette act 24102866 (08-07-2024)Former- → 08-07-2024
-
Luc RoegiersVice-chairState Gazette act 24102866 (08-07-2024)Former- → 08-07-2024
-
Mathilde LuijtenVice-chairState Gazette act 24102866 (08-07-2024)Former- → 08-07-2024
-
Pieter Jan SymonsDirectorState Gazette act 24102866 (08-07-2024)Former- → 08-07-2024
-
Silke BergansDirectorState Gazette act 24102866 (08-07-2024)Former- → 08-07-2024
-
Ken VeermanDaily managementState Gazette act 24102866 (08-07-2024)Former- → 16-12-2019
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 | Gespecialiseerde beeld-, verlichtings- en geluidstechnieken(90393) |
| Legal form | Non-profit association(017) |
| Incorporation | 11-03-2004 |
| Status | Active |
| Postal code | 2140 |
Structure & network
Locations & real estate
Establishment units
1 locationTRX
since 20072.159.325.116
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area7,266 m²
Buildings1
Building footprint4,647 m²
Volume (LiDAR)30,128 m³
Tallest building15.9 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
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11312A0070/00B005 | Flanders | 7,266 m² | 1 · 4,647 m² | 15.9 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 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
1 acts All acts · 1
updated 2 years ago
2024
08-07-2024 5 directors appointed, 9 resigning
- Kasper Stuart, Bestuurder
- Margot Hermans, Bestuurder
- Tessa Joris, Bestuurder
- Youniss Ahamad, Ondervoorzitter
- Leander Coorevits, Dagelijks bestuur
- Pieter Jan Symons, Bestuurder
- Katrien Goosens, Bestuurder
- Ann Kerremans, Voorzitter
Analysis
Snowflake analysis
financial profile on 5 axes54
/ 100
Mixed profile: strong on stability, weaker on profitability.
All 5 axes are computed from data Checked has read.
Health
53
Profitability
0
Solvency
67
Growth
52
Stability
100
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verdict per customer and amountSimilar
Similar companies
Same sector, ranked by comparable sizeCompany registry
Company registry (CBE)
Crossroads BankActivities
Gespecialiseerde beeld-, verlichtings- en geluidstechnieken90023Gespecialiseerde beeld-, verlichtings- en geluidstechnieken90393Overige verenigingen, n.e.g.94999Overige verenigingen, neg94999
Primary activity highlighted.
Names & trade names
| Legal nameNL | TRX |
Registered office
Noordersingel 28
2140 Antwerpen, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.