AS Trans
ActiveThe file of AS Trans contains 3 judicial reorganisation notices, as published in the Belgian State Gazette.
Summary
The annual accounts of AS Trans for fiscal year 2025 show a net loss of 57% of the equity at the start of that year. The computed 12-month bankruptcy probability is ≥ 25% (high). The 2025 annual accounts show equity of €53,930 and a net result of -€72,807. Equity is shrinking by ~8.7% per year across the filed fiscal years. Its solvency ranks better than 44% of 1918 sector peers (fiscal year 2025).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-62
Solvency60▼-14
Growth32=
Track record60
Bankruptcy probability, 12 months
≥ 25%
High
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.58 against 1.15 in 2024; short-term debt: 57.6% and cash: 0.1% of total assets), and 64.6% of the assets are financed with debt.
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Signals
Eight 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 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
35.4%
Return on assets
-47.8%
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
1819202122232425
2018 to 2025 · latest year -€72,807
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 10 filingsDeviation from the deadline
2025
31 d late
2024
116 d late
2023
288 d late
2022
654 d late
2021
970 d late
2020
91 d late
2019
129 d late
← 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 326 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 49% of the sector filed late.
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. Usually files around 15 May (4 of the last 5 filed years within 365 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€53,930▼ 57.4%
2024 · €126,736
Total assets
€152,281▼ 41.6%
2024 · €260,899
Net result
-€72,807▼ 428%
2024 · -€13,794
Working capital
-€36,708
2024 · €17,370
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€33,630-€19,410▲ 42.3%€69,415-€11,274-€16,538▼ 46.7%
Net result-€47,054below the sector's middle half-€28,040below the sector's middle half▲ 40.4%€49,352above the sector's middle half-€13,794below the sector's middle half-€72,807below the sector's middle half▼ 428%
Equity€119,218above the sector's middle half▼ 28.3%€91,178within the sector's middle half▼ 23.5%€140,530above the sector's middle half▲ 54.1%€126,736above the sector's middle half▼ 9.8%€53,930within the sector's middle half▼ 57.4%
Total assets€417,638above the sector's middle half▼ 1.3%€341,236above the sector's middle half▼ 18.3%€300,597above the sector's middle half▼ 11.9%€260,899within the sector's middle half▼ 13.2%€152,281below the sector's middle half▼ 41.6%
Debt€298,420▲ 16.2%€250,058▼ 16.2%€160,067▼ 36.0%€134,162▼ 16.2%€98,352▼ 26.7%
Working capital€26,300within the sector's middle half▼ 69.9%-€25,994below the sector's middle half€17,249within the sector's middle half€17,370within the sector's middle half▲ 0.7%-€36,708below the sector's middle half
Solvency28.5%within the sector's middle half▼ 10.8pp26.7%within the sector's middle half▼ 1.8pp46.8%within the sector's middle half▲ 20.0pp48.6%within the sector's middle half▲ 1.8pp35.4%within the sector's middle half▼ 13.2pp
Current ratio1.18within the sector's middle half▼ 0.740.85within the sector's middle half▼ 0.331.14within the sector's middle half▲ 0.291.15within the sector's middle half▲ 0.010.58below the sector's middle half▼ 0.57
Return on assets (ROA)-11.3%below the sector's middle half▼ 13.3pp-8.2%below the sector's middle half▲ 3.0pp16.4%above the sector's middle half▲ 24.6pp-5.3%below the sector's middle half▼ 21.7pp-47.8%below the sector's middle half▼ 42.5pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €16,538 in 2025 against €11,274 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €152,281
Fixed assets
€101,286 ▼ 21.9%
Current assets
€50,995 ▼ 61.1%
Equity and liabilities €152,281
Equity
€53,930 ▼ 57.4%
Debt
€98,352 ▼ 26.7%
Debt's share of the balance-sheet total rises from 51.4% to 64.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€7,411▼
2024 · €19,857
Cash flow
-€63,680▼
2024 · €17,337
Debt to equity
1.82▲
2024 · 1.06
ROE
-135.0%▼
2024 · -10.9%
Interest coverage
-0.15▼
2024 · 7.88
Debt ≤ 1 year
€87,703▼
2024 · €113,829
Debt > 1 year
€10,648▼
2024 · €20,333
Income taxes
€8,325
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,805 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 88% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
2.0%
went bankrupt
9.8%
stopped otherwise
88%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: ≥ 25% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 4,805 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €3,798 | - | €49,610 | - | - | - |
| Remuneration, social security and pensions62 | €92 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €38,548 | €51,113 | €42,293 | €31,131 | €9,127 | ▼ 70.7% |
| Other operating charges640/8 | €3,857 | €3,741 | €4,873 | €8,873 | €9,234 | ▲ 4.1% |
| Non-recurring operating charges66A | €24,808 | - | - | - | €22,060 | - |
| Gross operating margin9900 | €33,675 | €35,444 | €116,581 | €28,730 | €23,883 | ▼ 16.9% |
| Operating profit (loss)9901 | -€33,630 | -€19,410 | €69,415 | -€11,274 | -€16,538 | ▼ 46.7% |
| Financial income75/76B | - | €0 | - | - | - | - |
| Recurring financial income75 | - | €0 | - | - | - | - |
| Financial charges65/66B | €13,150 | €8,630 | €3,612 | €2,520 | €47,943 | ▲ 1,802% |
| Recurring financial charges65 | €13,150 | €8,630 | €3,612 | €2,520 | €47,943 | ▲ 1,802% |
| Profit (loss) for the period before taxes9903 | -€46,780 | -€28,040 | €65,803 | -€13,794 | -€64,482 | ▼ 367% |
| Income taxes67/77 | €274 | - | €16,451 | - | €8,325 | - |
| Profit (loss) for the period9904 | -€47,054 | -€28,040 | €49,352 | -€13,794 | -€72,807 | ▼ 428% |
| Transfer from tax-exempt reserves789 | - | €36,608 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€47,054 | €8,568 | €49,352 | -€13,794 | -€72,807 | ▼ 428% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €417,638 | €341,236 | €300,597 | €260,899 | €152,281 | ▼ 41.6% |
| Fixed assets21/28 | €242,459 | €196,646 | €159,303 | €129,700 | €101,286 | ▼ 21.9% |
| Tangible fixed assets22/27 | €225,539 | €179,726 | €142,383 | €112,780 | €84,366 | ▼ 25.2% |
| Land and buildings22 | €77,736 | €77,736 | €77,736 | €77,736 | €77,736 | = |
| Plant, machinery and equipment23 | €977 | €317 | €1,340 | €680 | €20 | ▼ 97.1% |
| Furniture and vehicles24 | €61,076 | €37,153 | €20,016 | €12,304 | €6,610 | ▼ 46.3% |
| Leasing and similar rights25 | €85,750 | €64,520 | €43,290 | €22,060 | - | - |
| Financial fixed assets28 | €16,920 | €16,920 | €16,920 | €16,920 | €16,920 | = |
| Current assets29/58 | €175,179 | €144,590 | €141,295 | €131,199 | €50,995 | ▼ 61.1% |
| Amounts receivable after more than one year29 | €121,393 | €121,393 | €100,000 | €100,000 | €36,132 | ▼ 63.9% |
| Other amounts receivable291 | €121,393 | €121,393 | €100,000 | €100,000 | €36,132 | ▼ 63.9% |
| Stocks and contracts in progress3 | €7,000 | €7,000 | €7,000 | €7,000 | - | - |
| Stocks30/36 | €7,000 | €7,000 | €7,000 | €7,000 | - | - |
| Amounts receivable within one year40/41 | €32,167 | €14,522 | €30,224 | €24,043 | €14,066 | ▼ 41.5% |
| Trade receivables40 | €21,732 | €4,337 | €11,801 | €12,779 | €8,676 | ▼ 32.1% |
| Other amounts receivable41 | €10,435 | €10,185 | €18,423 | €11,264 | €5,390 | ▼ 52.1% |
| Cash at bank and in hand54/58 | €14,618 | €1,675 | €2,423 | €156 | €166 | ▲ 6.4% |
| Deferred charges and accrued income490/1 | - | - | €1,648 | - | €632 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €417,638 | €341,236 | €300,597 | €260,899 | €152,281 | ▼ 41.6% |
| Equity10/15 | €119,218 | €91,178 | €140,530 | €126,736 | €53,930 | ▼ 57.4% |
| Contributions10/11 | €2,500 | €18,600 | €18,600 | €20,460 | €20,460 | = |
| Capital10 | €2,500 | €18,600 | €18,600 | €20,460 | €20,460 | = |
| Issued capital100 | €2,500 | €18,600 | €18,600 | €20,460 | €20,460 | = |
| Reserves13 | €38,468 | €1,860 | €1,860 | €106,276 | €33,470 | ▼ 68.5% |
| Non-distributable reserves130/1 | €38,468 | €1,860 | €1,860 | - | - | - |
| Legal reserve130 | €38,468 | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €106,276 | €33,470 | ▼ 68.5% |
| Profit (loss) carried forward14 | €78,250 | €70,718 | €120,070 | - | - | - |
| Amounts payable17/49 | €298,420 | €250,058 | €160,067 | €134,162 | €98,352 | ▼ 26.7% |
| Amounts payable after more than one year17 | €149,541 | €79,473 | €36,022 | €20,333 | €10,648 | ▼ 47.6% |
| Financial debts170/4 | €149,541 | €79,473 | €36,022 | €20,333 | €10,648 | ▼ 47.6% |
| Amounts payable within one year42/48 | €148,879 | €170,584 | €124,045 | €113,829 | €87,703 | ▼ 23.0% |
| Current portion of amounts payable after more than one year42 | €71,304 | €70,068 | €43,452 | €15,689 | €9,685 | ▼ 38.3% |
| Trade debts44 | €70,407 | €99,461 | €64,143 | €31,374 | €8,101 | ▼ 74.2% |
| Suppliers440/4 | €70,407 | €99,461 | €64,143 | €31,374 | €8,101 | ▼ 74.2% |
| Taxes, remuneration and social security45 | €7,168 | €1,055 | €16,451 | €17,451 | €69,917 | ▲ 301% |
| Taxes450/3 | €7,168 | €1,055 | €16,451 | €17,451 | €69,917 | ▲ 301% |
| Other amounts payable47/48 | - | - | - | €49,316 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€47,054 | -€28,040 | €49,352 | -€13,794 | -€72,807 | ▼ 428% |
| + Depreciation and write-downs630 | €38,548 | €51,113 | €42,293 | €31,131 | €9,127 | ▼ 70.7% |
| Operating cash flow (approximation) | -€8,506 | €23,074 | €91,645 | €17,337 | -€63,680 | ▼ 467% |
| Investment in fixed assets (approximation) | - | -€5,300 | -€4,950 | -€1,528 | €19,286 | ▲ 1,362% |
| Change in cash | - | -€12,943 | €748 | -€2,267 | €10 | ▲ 100% |
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
22-09
Judicial reorganisation
Plan approval refused
Tribunal de l’entreprise du Hainaut, division Tournai · event 07-09-2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
23-06
Judicial reorganisation
Filing of a new plan authorised
Tribunal de l’entreprise du Hainaut, division Tournai · collective agreement · event 08-06-2026
24-04
Judicial reorganisation
Opening
Tribunal de l’entreprise du Hainaut · collective agreement (SME) · event 15-04-2026
2025
31-12
Financial
Weakest financial yearnet -€72,807
Net result drops to -€72,807, the lowest in the series.
24-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 116 days late
15-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 288 days late
15-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 654 days late
27-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 970 days late
17-03
Bankruptcy
Judicial dissolution, liquidator appointed
Tribunal de l’entreprise du Hainaut, division Tournai · liquidator: Zimmer Fabien · event 11-03-2025
2023
31-12
Financial
Back to profitnet €49,352
Net result €49,352 after 2 loss-making years.
31-12
Financial
Equity above €100,000Eq €140,530 ▲54.1%
Equity rises from €91,178 to €140,530.
Show earlier events
2021
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 91 days late
2020
07-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 129 days late
2019
03-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 3 days late
2018
30-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 91 days late
2017
16-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 16 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Mouscron · 1 establishment unit since 2010
Ground area
249 m²
Building footprint
133 m²
Volume, LiDAR
743 m³
2 parcels, Wallonia · tallest building 12.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
AS Trans
since 20102.192.843.861
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 54004K0564/00C000 | Wallonia | 196 m² | 1 · 75 m² | 12.5 m · 3 fl. |
| 51050A1613/00Y008 | Wallonia | 53 m² | 1 · 58 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteBeloeil2.192.843.861
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Of 12,573 companies in this sector we hold annual accounts for 8,205. 6,041 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company (pre-2019)
Founded26-10-2010
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
Contact
Phone
0472/102 535Beloeil
E-invoicing
Reachable via Peppol
Peppol ID
0208:0830625054
Registered
05-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.