TSV
ActiveSummary
TSV has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.08M and a net result of €157k. Equity is growing by ~9.4% per year across the filed fiscal years. Its solvency ranks better than 95% of 7445 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability86▼-1
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €95k at 30 days acceptable
Liquidity ample (current ratio 12.14 against 5.36 in 2023; short-term debt: 7.1% and cash: 43.7% of total assets), and 8.3% of the assets are financed with debt.
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Signals
Four 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
91.7%
Return on assets
13.4%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-06-2025, 35 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
35 d early
2023
14 d late
2022
39 d early
2021
32 d early
2020
26 d early
2019
44 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
History
Financials · fiscal year 2024, abbreviated schema
Equity
€1.08M▲ 12.1%
2023 · €959k
Total assets
€1.17M▲ 0.3%
2023 · €1.17M
Net result
€157k▼ 8.0%
2023 · €171k
Working capital
€928k▲ 14.6%
2023 · €810k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€154k▲ 11.2%€258k▲ 68.1%€191k▼ 25.9%€248k▲ 29.4%€227k▼ 8.3%
Net result€110k▲ 11.9%€179k▲ 63.7%€135k▼ 24.8%€171k▲ 26.9%€157k▼ 8.0%
Equity€743k▲ 17.3%€772k▲ 3.8%€807k▲ 4.5%€959k▲ 18.9%€1.08M▲ 12.1%
Total assets€942k▲ 2.4%€996k▲ 5.8%€973k▼ 2.3%€1.17M▲ 20.0%€1.17M▲ 0.3%
Debt€198k▼ 30.6%€225k▲ 13.3%€167k▼ 25.9%€209k▲ 25.6%€97k▼ 53.8%
Working capital€657k▲ 22.7%€699k▲ 6.4%€753k▲ 7.7%€810k▲ 7.6%€928k▲ 14.6%
Staff (FTE)3.5▼ 5.4%2.7▼ 22.9%2.8▲ 3.7%3.2▲ 14.3%2.7▼ 15.6%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 8% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.17M
Fixed assets
€160k ▼ 7.0%
Current assets
€1.01M ▲ 1.6%
Equity and liabilities €1.17M
Equity
€1.08M ▲ 12.1%
Debt
€97k ▼ 53.8%
Debt's share of the balance-sheet total falls from 17.9% to 8.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€272k▼
2023 · €285k
Cash flow
€203k▼
2023 · €209k
Current ratio
12.14▲
2023 · 5.36
Quick ratio
9.88▲
2023 · 3.95
Debt to equity
0.09▼
2023 · 0.22
ROE
14.6%▼
2023 · 17.9%
ROA
13.4%▼
2023 · 14.7%
Interest coverage
90.65▲
2023 · 79.51
Debt ≤ 1 year
€83k▼
2023 · €186k
Debt > 1 year
€13k▼
2023 · €23k
Income taxes
€68k▼
2023 · €74k
Staff costs
€159k▼
2023 · €171k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €144k | €155k | €171k | €159k | ▼ 7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €49k | €38k | €33k | €38k | €45k | ▲ 19.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €19k | - |
| Other operating charges640/8 | - | €1k | €913 | €2k | €932 | ▼ 46.5% |
| Gross operating margin9900 | €340k | €442k | €380k | €458k | €451k | ▼ 1.7% |
| Operating profit (loss)9901 | €154k | €258k | €191k | €248k | €227k | ▼ 8.3% |
| Financial income75/76B | - | €856 | €1k | €836 | €1k | ▲ 56.3% |
| Recurring financial income75 | €816 | €856 | €1k | €836 | €1k | ▲ 56.3% |
| Financial charges65/66B | - | €2k | €1k | €4k | €3k | ▼ 16.4% |
| Recurring financial charges65 | €2k | €2k | €1k | €4k | €3k | ▼ 16.4% |
| Profit (loss) for the period before taxes9903 | €152k | €257k | €191k | €245k | €225k | ▼ 8.0% |
| Income taxes67/77 | €43k | €78k | €56k | €74k | €68k | ▼ 7.9% |
| Profit (loss) for the period9904 | €110k | €179k | €135k | €171k | €157k | ▼ 8.0% |
| Profit (loss) for the period to be appropriated9905 | €110k | €179k | €135k | €171k | €157k | ▼ 8.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €942k | €996k | €973k | €1.17M | €1.17M | ▲ 0.3% |
| Fixed assets21/28 | €128k | €92k | €59k | €172k | €160k | ▼ 7.0% |
| Tangible fixed assets22/27 | €127k | €92k | €59k | €172k | €160k | ▼ 7.0% |
| Land and buildings22 | - | €13k | €10k | €8k | €5k | ▼ 33.3% |
| Plant, machinery and equipment23 | - | €33k | €21k | €30k | €23k | ▼ 20.5% |
| Furniture and vehicles24 | - | €45k | €27k | €135k | €131k | ▼ 2.5% |
| Financial fixed assets28 | €498 | €498 | €498 | - | - | - |
| Current assets29/58 | €814k | €904k | €914k | €996k | €1.01M | ▲ 1.6% |
| Stocks and contracts in progress3 | €100k | €134k | €220k | €262k | €188k | ▼ 28.1% |
| Stocks30/36 | - | €110k | €194k | €177k | €146k | ▼ 17.6% |
| Contracts in progress37 | - | €24k | €26k | €84k | €42k | ▼ 50.3% |
| Amounts receivable within one year40/41 | €332k | €409k | €383k | €289k | €307k | ▲ 6.1% |
| Trade receivables40 | - | €259k | €215k | €156k | €180k | ▲ 15.4% |
| Other amounts receivable41 | - | €149k | €168k | €133k | €127k | ▼ 4.7% |
| Cash at bank and in hand54/58 | €336k | €358k | €306k | €439k | €512k | ▲ 16.7% |
| Deferred charges and accrued income490/1 | - | €3k | €5k | €6k | €5k | ▼ 27.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €942k | €996k | €973k | €1.17M | €1.17M | ▲ 0.3% |
| Equity10/15 | €743k | €772k | €807k | €959k | €1.08M | ▲ 12.1% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €725k | €753k | €788k | €940k | €1.06M | ▲ 12.4% |
| Distributable reserves133 | - | €753k | €788k | €940k | €1.06M | ▲ 12.4% |
| Amounts payable17/49 | €198k | €225k | €167k | €209k | €97k | ▼ 53.8% |
| Amounts payable after more than one year17 | €41k | €19k | €6k | €23k | €13k | ▼ 43.1% |
| Financial debts170/4 | - | €19k | €6k | €23k | €13k | ▼ 43.1% |
| Amounts payable within one year42/48 | €157k | €205k | €161k | €186k | €83k | ▼ 55.1% |
| Current portion of amounts payable after more than one year42 | - | €22k | €14k | €15k | €10k | ▼ 34.2% |
| Financial debts43 | - | €8k | €12k | €12k | - | - |
| Credit institutions430/8 | - | €8k | €12k | €12k | - | - |
| Trade debts44 | €105k | €128k | €92k | €136k | €51k | ▼ 62.5% |
| Suppliers440/4 | - | €128k | €92k | €136k | €51k | ▼ 62.5% |
| Taxes, remuneration and social security45 | - | €43k | €40k | €21k | €20k | ▼ 2.1% |
| Taxes450/3 | - | €31k | €28k | €7k | €7k | ▲ 8.8% |
| Remuneration and social security454/9 | - | €11k | €12k | €14k | €13k | ▼ 7.4% |
| Other amounts payable47/48 | - | €4k | €4k | €2k | €2k | ▲ 12.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €110k | €179k | €135k | €171k | €157k | ▼ 8.0% |
| + Depreciation and write-downs630 | €49k | €38k | €33k | €38k | €45k | ▲ 19.6% |
| Operating cash flow (approximation) | €159k | €217k | €168k | €209k | €203k | ▼ 3.0% |
| Investment in fixed assets (approximation) | - | €-2k | €0 | €-150k | €-33k | ▲ 78.0% |
| Change in cash | - | €23k | €-53k | €133k | €73k | ▼ 45.2% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
2025
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity doublescurrent ratio 12.14
Current ratio from 5.36 to 12.14; short-term debt falls from €186k to €83k.
31-12
Financial
Equity above €1MEq €1.08M ▲12.1%
7 profitable years in a row build equity to €1.08M.
14-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 14 days late
2023
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €179k ▲63.7%
Operating result €258k, net result €179k, both a record.
05-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
17-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 26 days late
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
14-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
06-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Retie · 1 establishment unit since 2001
Ground area
2,309 m²
Building footprint
1,093 m²
Volume, LiDAR
24 m³
Parcel 13036B1113/00C000, Flanders · tallest building 1.5 m. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
TSV BVBA
since 20012.100.269.932
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13036B1113/00C000 | Flanders | 2,309 m² | 1 · 1,093 m² | 1.5 m |
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.
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Of 20,028 companies in sector 43320 we hold annual accounts for 9,133. 4,210 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
Founded05-04-2001
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
43320Joinery installation
Contact
Website
www.tsv.be
E-mail
info@tsv.be
Scores and ratios are computed by Checked and are not a credit decision.