TUC RAIL

Active

Public limited companyfounded 1992active for 34 yearsFonsnylaan 39, 1060 Sint-Gillis (bij-Brussel), BelgiumKBO/BCE: BE 0447.914.029

Summary

TUC RAIL has been active since 1992 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €24.9m and a net result of -€2.2m. Equity remains stable across the filed financial years (±0.3% per year). Its solvency ranks better than 26% of 883 sector peers (NACE 71, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Risk analysisFollow Report Compare

TUC RAILActiveChecked score 89/100

Risk analysis Report Compare

Activity

Engineering and related technical consultancy, excluding land surveyors

NACE 71121

Largest employer in Sint-Gillis, Professional and technical services sector1 site

Size

€182.1mturnover 2025

Staff: 730.6 FTE
Equity: €24.9m
Loss: -€2.2m

Financial health

89 Excellent Checked score 2025

Bankruptcy probabilitywithin 12 months: 0.1%

Structure

Parent: INFRABEL
Board: 5 members

Benoît GILSONChair
Philippe DENAYERDaily manager

Auditor: Olivier HUBERT2025 accounts 123 days early

Why 89raises riskEquity €24.9m (20.1% of total assets)Loss of €2.2m (financial year 2025)lowers riskSector: Architectural and engineering activities; technical testing and analysis (NACE 71)Legal form: public limited companyShow the evidence

Checked score

Score 2025

89 / 100

Excellent

Probability in this band: under 0.55%

Financially better than 27% of its sector peers (NACE 71, large)

Every signal that counts is listed under Signals.

Financial strength

Weak

Solvency 45

equity 20.1% of total assets

Liquidity 29

short-term debt 64.9% · cash 10.7%

Profitability 55

return on assets -1.8%

Bankruptcy probability, 12 months

0.1% Very low

0%0.5%1.5%4%10%≥ 25%

About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (34 companies, NACE 71, large)

Last 24 months 11-2024: 0.3% 12-2024: 0.3%● unchanged vs 11-2024 01-2025: 0.3%● unchanged vs 12-2024 02-2025: 0.3%● unchanged vs 01-2025 03-2025: 0.3%● unchanged vs 02-2025 04-2025: 0.3%● unchanged vs 03-2025 05-2025: 0.4%▲ +0.1 percentage points vs 04-2025 06-2025: 0.4%● unchanged vs 05-2025 07-2025: 0.4%● unchanged vs 06-2025highest value 08-2025: 0.4%● unchanged vs 07-2025highest value 09-2025: 0.4%● unchanged vs 08-2025highest value 10-2025: 0.4%● unchanged vs 09-2025highest value 11-2025: 0.4%● unchanged vs 10-2025 12-2025: 0.4%● unchanged vs 11-2025 01-2026: 0.4%● unchanged vs 12-2025 02-2026: 0.4%● unchanged vs 01-2026 03-2026: 0.4%● unchanged vs 02-2026 04-2026: 0.4%● unchanged vs 03-2026 05-2026: 0.1%▼ -0.3 percentage points vs 04-2026lowest value 06-2026: 0.1%● unchanged vs 05-2026lowest value 07-2026: 0.1%● unchanged vs 06-2026lowest value 08-2026: 0.1%● unchanged vs 07-2026lowest value 09-2026: 0.1%● unchanged vs 08-2026lowest value 10-2026: 0.1%● unchanged vs 09-2026lowest value

Credit of up to €2,200,000 on 30-day terms is acceptable

Liquidity tight (current ratio 1.47, compared with 1.39 in 2024, below the usual 1.5; short-term debt: 64.9% and cash: 10.7% of total assets), and 79.9% of the assets are financed with debt and provisions.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 71, large): better than 9% on solvency, 30% on liquidity, 33% on profitability and 36% on growth.

The bankruptcy probability was computed on 24-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.

lowers riskraises riskneutral

Equity €24.9m (20.1% of total assets)

NBB · annual accounts

Sector: Architectural and engineering activities; technical testing and analysis (NACE 71)

KBO

Loss of €2.2m (financial year 2025)

NBB · annual accounts

Legal form: public limited company

KBO

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-03-2026, 123 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

123 days early

2024

108 days early

2023

104 days early

2022

122 days early

2021

101 days early

2020

102 days early

2019

107 days early

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 110 days before the deadline; the sector median (NACE 71) for financial year 2024 is 8 days before the deadline, and 34% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 14 April (5 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Where today falls in the filing period

25-10-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

23-09-2026 Resignations & appointments · MiscellaneousBoard composition
06-08-2026 Resignation: Christine VANDERVEEREN (bestuurster)Appointment: Cecilia MAES (bestuurster)
08-06-2026 Reappointments: BDO Bedrijfsrevisoren (statutory auditor) and…Permanent representatives: Michaël DELBEKE and…

Key points

Caution: From profit to loss in 2025after €1.1m in 2024 -€2.2m View
Caution: Among the weakest 5% on net resultsector median €36,857 · 885 companies -€2.2m View
Board changedlatest change 01-09-2026 · 5 in office 2 joined · 3 left View
Positive: Filed on time since financial year 2018accounts within the deadline every year 8 years View
Controlled by INFRABEL parent View
Flemish supportawarded from 2022 to 2025 €59,076 View

By topic

Financials

Financial year: 2025
Turnover: €182.1m
Loss: -€2.2m
Solvency: 20.1%

Turnover▼ 1.3%

Net result

20182025

Go to Financials

Board & ownership

Board: 5 members
Parent: INFRABEL
Auditor: Olivier HUBERT

Benoît GILSONChair
Antoine COLPAERTDirector
Eric MERCIERDirector
Estelle NAYESDirector
Cecilia MAESDirector

Go to Board & ownership

Network & group

Connected companies: 9
Mergers and asset contributions: 1

Go to Network & group

Timeline

Events: 73
Since: 1994
Next accounts: by 31-07-2027

05-05-2026Miscellaneous
30-03-2026Annual accounts filed
04-02-2026Resignations: Jochen BULTINCK (director) and Ann BILLIAU…

Go to Timeline

Company details

Sites: 1

Legal form: Public limited company
Activity: Engineering and related technical consultancy, excluding land surveyorsNACE 71121
Founded: 10-07-1992
Year ends: 31-12
Peppol: Reachable for e-invoices

Go to Company details

Articles of association

Provisions read: 1

Purpose: “La Société a pour objet la fourniture de services de conception, d'étude, d'organisation…” (deed in French)

Go to Articles of association

Key facts about TUC RAIL

What is the company number of TUC RAIL?: 0447.914.029. In Belgium the VAT number is the company number with BE in front: BE 0447.914.029.
Where is TUC RAIL based?: The registered office is at Fonsnylaan 39, 1060 Sint-Gillis (bij-Brussel).Company details
What does TUC RAIL do?: According to the KBO register, the main activity is engineering and related technical consultancy, excluding land surveyors (NACE 71121).
What is the legal form of TUC RAIL?: Public limited company (NV).
When was TUC RAIL founded?: On 10-07-1992.
Is TUC RAIL still active?: Yes, TUC RAIL is an active enterprise in the KBO register.
How many employees does TUC RAIL have?: On average 730.6 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of TUC RAIL?: €182.1m in financial year 2025, according to the filed annual accounts.
Is TUC RAIL profitable?: In financial year 2025, TUC RAIL made a loss of €2.2m.
Where can I find the annual accounts of TUC RAIL?: TUC RAIL filed 33 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of TUC RAIL due?: By 31-07-2027, for financial year 2026.Timeline