TSB
ActiveSummary
TSB has been active since 1974 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.52M and a net result of €-33k. Equity is growing by ~13.2% per year across the filed fiscal years. Its solvency ranks better than 91% of 10407 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability36▲+36
Solvency100▲+4
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €240k at 30 days acceptable
Liquidity ample (current ratio 14.42 against 3.4 in 2024; short-term debt: 6.9% and cash: 0% of total assets), and 16.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← 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
83.5%
Return on assets
-0.8%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year €-33k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 13-07-2026, 18 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
18 d early
2024
on the day
2023
68 d late
2022
108 d early
2021
31 d early
2020
12 d early
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€3.52M▼ 0.9%
2024 · €3.55M
2019: €1.80Mlowest in 7 years
2020: €1.92M▲ +6.6% vs 2019
2021: €2.15M▲ +11.6% vs 2020
2022: €4.03M▲ +87.7% vs 2021
2023: €4.66M▲ +15.6% vs 2022highest in 7 years
2024: €3.55M▼ -23.8% vs 2023
2025: €3.52M▼ -0.9% vs 2024
2019 → 2025
Total assets
€4.21M▼ 16.3%
2024 · €5.03M
2019: €2.29Mlowest in 7 years
2020: €2.39M▲ +4.8% vs 2019
2021: €3.03M▲ +26.4% vs 2020
2022: €9.74M▲ +222% vs 2021highest in 7 years
2023: €6.63M▼ -32.0% vs 2022
2024: €5.03M▼ -24.1% vs 2023
2025: €4.21M▼ -16.3% vs 2024
2019 → 2025
Net result
€-33k▲ 97.3%
2024 · €-1.21M
2019: €32k
2020: €143k▲ +348% vs 2019
2021: €224k▲ +55.8% vs 2020
2022: €1.88M▲ +742% vs 2021highest in 7 years
2023: €629k▼ -66.6% vs 2022
2024: €-1.21M▼ -292% vs 2023lowest in 7 years
2025: €-33k▲ +97.3% vs 2024
2019 → 2025
Working capital
€3.92M▲ 10.3%
2024 · €3.55M
2019: €1.75M
2020: €1.87M▲ +6.8% vs 2019
2021: €1.19M▼ -36.4% vs 2020lowest in 7 years
2022: €4.02M▲ +238% vs 2021
2023: €5.04M▲ +25.2% vs 2022highest in 7 years
2024: €3.55M▼ -29.5% vs 2023
2025: €3.92M▲ +10.3% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2.15M-€4.03M▲ 87.7%€4.66M▲ 15.6%€3.55M▼ 23.8%€3.52M▼ 0.9%
2021: €2.15Mlowest in 5 years
2022: €4.03M▲ +87.7% vs 2021
2023: €4.66M▲ +15.6% vs 2022highest in 5 years
2024: €3.55M▼ -23.8% vs 2023
2025: €3.52M▼ -0.9% vs 2024
Operating result€277k-€2.53M▲ 812%€1.04M▼ 58.9%€-1.20M€-27k▲ 97.7%
2021: €277k
2022: €2.53M▲ +812% vs 2021highest in 5 years
2023: €1.04M▼ -58.9% vs 2022
2024: €-1.20M▼ -216% vs 2023lowest in 5 years
2025: €-27k▲ +97.7% vs 2024
Net result€224k-€1.88M▲ 742%€629k▼ 66.6%€-1.21M€-33k▲ 97.3%
2021: €224k
2022: €1.88M▲ +742% vs 2021highest in 5 years
2023: €629k▼ -66.6% vs 2022
2024: €-1.21M▼ -292% vs 2023lowest in 5 years
2025: €-33k▲ +97.3% vs 2024
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €27k in 2025 against €1.20M in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €4.21M
Equity
€3.52M ▼ 0.9%
Debt
€693k ▼ 53.2%
Debt's share of the balance-sheet total falls from 29.4% to 16.5%. Equity and debt are lower.
Key figures and ratios
Current ratio
14.42▲
2024 · 3.40
Debt to equity
0.20▼
2024 · 0.42
ROE
-0.9%▲
2024 · -34.0%
ROA
-0.8%▲
2024 · -24.0%
Debt ≤ 1 year
€292k▼
2024 · €1.48M
Debt > 1 year
€400k
Income taxes
€5k▲
2024 · €-145
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€5.03M€4.21M▼
Current assets29/58€5.03M€4.21M▼
Amounts receivable after more than one year29€4.98M€3.81M▼
Other amounts receivable291€4.98M€3.81M▼
Amounts receivable within one year40/41€50k€0▼
Trade receivables40€3k€0▼
Other amounts receivable41€47k€0▼
Cash at bank and in hand54/58€1k€794▼
Deferred charges and accrued income490/1€960€400k▲
Equity and liabilities
Total equity and liabilities10/49€5.03M€4.21M▼
Equity10/15€3.55M€3.52M▼
Contributions10/11€467k€467k=
Reserves13€1.68M€1.68M=
Non-distributable reserves130/1€21k€21k=
Reserves not available under the articles1311€21k€21k=
Tax-exempt reserves132€56k€56k=
Distributable reserves133€1.60M€1.60M=
Profit (loss) carried forward14€1.40M€1.37M▼
Amounts payable17/49€1.48M€693k▼
Amounts payable after more than one year17-€400k
Other amounts payable178/9-€400k
Amounts payable within one year42/48€1.48M€292k▼
Trade debts44€1.10M€23k▼
Suppliers440/4€1.10M€23k▼
Taxes, remuneration and social security45€377k€269k▼
Taxes450/3€377k€269k▼
Other amounts payable47/48€0-
Accrued charges and deferred income492/3€1k€1k=
Income statement
Code20242025
Non-recurring operating income76A€0-
Other operating charges640/8€2k€1k▼
Gross operating margin9900€-1.20M€-26k▲
Operating profit (loss)9901€-1.20M€-27k▲
Financial income75/76B€13€0▼
Recurring financial income75€13€0▼
Financial charges65/66B€7k€271▼
Recurring financial charges65€7k€271▼
Profit (loss) for the period before taxes9903€-1.21M€-28k▲
Income taxes67/77€-145€5k▲
Profit (loss) for the period9904€-1.21M€-33k▲
Profit (loss) for the period to be appropriated9905€-1.21M€-33k▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.40M€1.37M▼
Profit (loss) brought forward from the previous period14P€2.61M€1.40M▼
Social balance
Average headcount (FTE)90870.0-
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €43k | €2k | €0 | - | - |
| Remuneration, social security and pensions62 | - | €406k | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €35k | €3k | €0 | - | - | - |
| Other operating charges640/8 | - | €30k | €1k | €2k | €1k | ▼ 30.7% |
| Non-recurring operating charges66A | - | €706k | €0 | - | - | - |
| Gross operating margin9900 | €703k | €3.67M | €1.04M | €-1.20M | €-26k | ▲ 97.8% |
| Operating profit (loss)9901 | €277k | €2.53M | €1.04M | €-1.20M | €-27k | ▲ 97.7% |
| Financial income75/76B | - | €9k | €0 | €13 | €0 | ▼ 100% |
| Recurring financial income75 | €31k | €9k | €0 | €13 | €0 | ▼ 100% |
| Financial charges65/66B | - | €10k | €305 | €7k | €271 | ▼ 96.2% |
| Recurring financial charges65 | €9k | €10k | €305 | €7k | €271 | ▼ 96.2% |
| Profit (loss) for the period before taxes9903 | €299k | €2.53M | €1.04M | €-1.21M | €-28k | ▲ 97.7% |
| Transfer to deferred taxes680 | - | - | €380k | - | - | - |
| Income taxes67/77 | €76k | €644k | €30k | €-145 | €5k | ▲ 3,572% |
| Profit (loss) for the period9904 | €224k | €1.88M | €629k | €-1.21M | €-33k | ▲ 97.3% |
| Transfer to tax-exempt reserves689 | - | - | €1.14M | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €224k | €1.88M | €-510k | €-1.21M | €-33k | ▲ 97.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.03M | €9.74M | €6.63M | €5.03M | €4.21M | ▼ 16.3% |
| Fixed assets21/28 | €957k | €7k | €0 | - | - | - |
| Tangible fixed assets22/27 | €955k | €7k | €0 | - | - | - |
| Furniture and vehicles24 | - | €7k | €0 | - | - | - |
| Financial fixed assets28 | €2k | - | - | - | - | - |
| Current assets29/58 | €2.07M | €9.74M | €6.63M | €5.03M | €4.21M | ▼ 16.3% |
| Amounts receivable after more than one year29 | - | €218k | €6.22M | €4.98M | €3.81M | ▼ 23.5% |
| Other amounts receivable291 | - | €218k | €6.22M | €4.98M | €3.81M | ▼ 23.5% |
| Stocks and contracts in progress3 | €185k | €1.31M | €0 | - | - | - |
| Stocks30/36 | - | €1.31M | €0 | - | - | - |
| Amounts receivable within one year40/41 | €426k | €8.20M | €402k | €50k | €0 | ▼ 100% |
| Trade receivables40 | - | €25k | €13k | €3k | €0 | ▼ 100% |
| Other amounts receivable41 | - | €8.17M | €388k | €47k | €0 | ▼ 100% |
| Current investments50/53 | €340k | - | - | - | - | - |
| Cash at bank and in hand54/58 | €230k | €4k | €8k | €1k | €794 | ▼ 39.7% |
| Deferred charges and accrued income490/1 | - | - | - | €960 | €400k | ▲ 41,567% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.03M | €9.74M | €6.63M | €5.03M | €4.21M | ▼ 16.3% |
| Equity10/15 | €2.15M | €4.03M | €4.66M | €3.55M | €3.52M | ▼ 0.9% |
| Contributions10/11 | - | €467k | €467k | €467k | €467k | = |
| Reserves13 | €1.68M | €1.68M | €2.82M | €1.68M | €1.68M | = |
| Non-distributable reserves130/1 | - | €21k | €21k | €21k | €21k | = |
| Reserves not available under the articles1311 | - | €21k | €21k | €21k | €21k | = |
| Tax-exempt reserves132 | - | €56k | €1.19M | €56k | €56k | = |
| Distributable reserves133 | - | €1.60M | €1.60M | €1.60M | €1.60M | = |
| Profit (loss) carried forward14 | - | €1.88M | €1.37M | €1.40M | €1.37M | ▼ 2.3% |
| Provisions and deferred taxes16 | - | - | €380k | - | - | - |
| Deferred taxes168 | - | - | €380k | - | - | - |
| Amounts payable17/49 | €882k | €5.72M | €1.59M | €1.48M | €693k | ▼ 53.2% |
| Amounts payable after more than one year17 | - | - | - | - | €400k | - |
| Other amounts payable178/9 | - | - | - | - | €400k | - |
| Amounts payable within one year42/48 | €879k | €5.72M | €1.59M | €1.48M | €292k | ▼ 80.3% |
| Trade debts44 | €343k | €27k | €19k | €1.10M | €23k | ▼ 97.9% |
| Suppliers440/4 | - | €27k | €19k | €1.10M | €23k | ▼ 97.9% |
| Advances received on contracts in progress46 | - | €4.84M | €0 | - | - | - |
| Taxes, remuneration and social security45 | - | €614k | €644k | €377k | €269k | ▼ 28.7% |
| Taxes450/3 | - | €614k | €644k | €377k | €269k | ▼ 28.7% |
| Other amounts payable47/48 | - | €234k | €930k | €0 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €1k | €1k | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €224k | €1.88M | €629k | €-1.21M | €-33k | ▲ 97.3% |
| + Depreciation and write-downs630 | €35k | €3k | €0 | - | - | - |
| Operating cash flow (approximation) | €258k | €1.88M | €629k | €-1.21M | €-33k | ▲ 97.3% |
| Investment in fixed assets (approximation) | - | €948k | €7k | - | - | - |
| Change in cash | - | €-225k | €4k | €-7k | €-522 | ▲ 92.4% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
13-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Liquidity quadruplescurrent ratio 14.42
Current ratio from 3.40 to 14.42; short-term debt falls from €1.48M to €292k.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €-1.21M
Net result drops to €-1.21M, the lowest in the series; recovery starts the following year.
07-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 68 days late
2023
31-12
Financial
Liquidity doublescurrent ratio 4.16
Current ratio from 1.70 to 4.16; short-term debt falls from €5.72M to €1.59M.
14-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2019net €1.88M ▲742%
Operating result €2.53M, net result €1.88M, both a record.
28-02
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-08
Financial
Equity above €2MEq €2.15M ▲11.6%
3 profitable years in a row build equity to €2.15M.
19-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
02-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 2 days late
2018
30-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
06-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 6 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
7 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, Pelt · 1 establishment unit since 1974
Ground area
1,858 m²
Building footprint
226 m²
Volume, LiDAR
1,106 m³
Parcel 72029C0124/00G000, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
24
companies at this address
See who is registered here
1 establishment unit
Tielenstraat 33, 3900 Pelt
since 19742.010.990.142
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72029C0124/00G000 | Flanders | 1,858 m² | 1 · 226 m² | 8.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
5493009DB4RLIMHPL696
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Of 10,510 companies in sector 47110 we hold annual accounts for 5,851. 1,027 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded21-12-1974
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
Scores and ratios are computed by Checked and are not a credit decision.