TSM
ActiveSummary
The computed 12-month bankruptcy probability of TSM is 2.7% (moderate). The 2025 annual accounts show equity of €173k and a net result of €171k. Its solvency ranks better than 62% of 4603 sector peers (fiscal year 2025). The company has been active since 2024 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
63
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes
Profitability100
Solvency76
Growth-
Track record67
Bankruptcy probability, 12 months
2.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days only on tighter terms
Liquidity short (current ratio 0.35; short-term debt: 49.2% and cash: 7.8% of total assets), and 49.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established 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 49
Relative position
BE, all sectors
reference
Sector 49
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
50.8%
Return on assets
50.2%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-08-2026, 8 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 · 1 filingDeviation from the deadline
2025
8 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2025, micro schema
Equity
€173k
Total assets
€341k
Net result
€171k
Working capital
€-109k
Turnover and EBIT margin not published: the micro schema does not require them.
Balance-sheet composition
Assets €341k
Fixed assets
€282k
Current assets
€59k
Equity and liabilities €341k
Equity
€173k
Debt
€167k
Debt finances 49.2% of the balance-sheet total.
Key figures and ratios
EBITDA
€242k
Cash flow
€201k
Current ratio
0.35
Debt to equity
0.97
ROE
98.8%
ROA
50.2%
Interest coverage
3788.68
Debt ≤ 1 year
€167k
Income taxes
€42k
Filed annual accounts As filed with the NBB · 2025 · 36 lines
Balance sheet
Code2025
Assets
Total assets20/58€341k
Fixed assets21/28€282k
Tangible fixed assets22/27€273k
Plant, machinery and equipment23€2k
Furniture and vehicles24€271k
Financial fixed assets28€9k
Current assets29/58€59k
Amounts receivable within one year40/41€32k
Trade receivables40€32k
Other amounts receivable41€1
Cash at bank and in hand54/58€27k
Equity and liabilities
Total equity and liabilities10/49€341k
Equity10/15€173k
Contributions10/11€2k
Profit (loss) carried forward14€171k
Amounts payable17/49€167k
Amounts payable within one year42/48€167k
Trade debts44€3k
Suppliers440/4€3k
Taxes, remuneration and social security45€62k
Taxes450/3€55k
Remuneration and social security454/9€8k
Other amounts payable47/48€103k
Income statement
Code2025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€30k
Other operating charges640/8€891
Gross operating margin9900€243k
Operating profit (loss)9901€213k
Financial income75/76B€6
Recurring financial income75€6
Financial charges65/66B€64
Recurring financial charges65€64
Profit (loss) for the period before taxes9903€213k
Income taxes67/77€42k
Profit (loss) for the period9904€171k
Profit (loss) for the period to be appropriated9905€171k
Appropriation of the result
Profit (loss) to be appropriated9906€171k
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
08-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 8 days late
NBB filing
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Herzele · 1 establishment unit since 2024
Ground area
516 m²
Building footprint
118 m²
Volume, LiDAR
615 m³
Parcel 41067B0697/00K000, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
TSM
since 20242.360.628.028
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41067B0697/00K000 | Flanders | 516 m² | 1 · 118 m² | 8.0 m · 2 fl. |
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
2025 · 1 entry · 131 EUR awarded · 131 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 131 EUR | 131 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
Delecluyse
BE 0863.271.888
Deerlijk · Eq €173,125
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BENATRA
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AZRA-TRANS
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Transports Jean-Marie Dumont
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Of 12,590 companies in sector 49410 we hold annual accounts for 8,195. 6,291 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded10-06-2024
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
52210Service activities incidental to land transportation
Sources
Crossroads Bank for EnterprisesNational Bank · 1 filingAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.