AS Trans
ActiveThe file of AS Trans contains 3 judicial reorganisation notices, as published in the Belgian Official Gazette.
Summary
During the judicial reorganisation Checked does not compute a bankruptcy probability from the figures: of the Belgian companies that opened one in 2023 and 2024, about one in four went bankrupt within twelve months. The annual accounts of AS Trans for financial year 2025 show a net loss of 57% of the equity at the start of that year. The 2025 annual accounts show equity of €53,930 and a net result of -€72,807. Equity is shrinking by about 8.7% per year across the filed financial years. Its solvency ranks better than 45% of 2,339 sector peers (NACE 49, financial year 2025).
Financials · financial year 2025, abbreviated format
2025 annual accounts filed late (31 days) Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00471134.
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
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €16,538 in 2025 against €11,274 in 2024; the loss grows.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€16,538
2025
Net result-€72,807
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€152,281
2025
Equity€53,930
2025
Debt€98,352
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€36,708
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-47.8%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency35.4%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.58
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 49, Land transport and transport via pipelines: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. 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 financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€30,194-€14,397▼ 52.3%€20,775▲ 44.3%-€33,630-€19,410▲ 42.3%€69,415-€11,274-€16,538▼ 46.7%
Net result€17,698-€6,176▼ 65.1%€8,734within the sector's middle half▲ 41.4%-€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€151,362-€157,537▲ 4.1%€166,272above the sector's middle half▲ 5.5%€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€333,307-€304,382▼ 8.7%€423,034above the sector's middle half▲ 39.0%€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€181,945-€146,845▼ 19.3%€256,762▲ 74.9%€298,420▲ 16.2%€250,058▼ 16.2%€160,067▼ 36.0%€134,162▼ 16.2%€98,352▼ 26.7%
Working capital€27,112-€70,981▲ 162%€87,439above the sector's middle half▲ 23.2%€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
Solvency45.4%-51.8%▲ 6.3pp39.3%within the sector's middle half▼ 12.5pp28.5%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 ratio1.27-1.89▲ 0.631.92within the sector's middle half▲ 0.021.18within 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)5.3%-2.0%▼ 3.3pp2.1%within the sector's middle half=-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)0.2-
above
within
below
the middle half of NACE 49, Land transport and transport via pipelines: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated or micro format does not require them.
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.
Annual accounts
| Line | 2018 | 2019 | 2020 | 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 | €67,863 | €51,272 | €47,778 | €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 | €113,143 | €70,428 | €75,059 | €33,675 | €35,444 | €116,581 | €28,730 | €23,883 | ▼ 16.9% |
| Operating profit (loss)9901 | €30,194 | €14,397 | €20,775 | -€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 | €7,029 | €4,227 | €8,913 | €13,150 | €8,630 | €3,612 | €2,520 | €47,943 | ▲ 1,802% |
| Profit (loss) for the period before taxes9903 | €23,165 | €10,170 | €11,862 | -€46,780 | -€28,040 | €65,803 | -€13,794 | -€64,482 | ▼ 367% |
| Income taxes67/77 | €5,466 | €3,994 | €3,128 | €274 | - | €16,451 | - | €8,325 | - |
| Profit (loss) for the period9904 | €17,698 | €6,176 | €8,734 | -€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 | €17,698 | €6,176 | €8,734 | -€47,054 | €8,568 | €49,352 | -€13,794 | -€72,807 | ▼ 428% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €333,307 | €304,382 | €423,034 | €417,638 | €341,236 | €300,597 | €260,899 | €152,281 | ▼ 41.6% |
| Fixed assets21/28 | €204,195 | €154,070 | €240,507 | €242,459 | €196,646 | €159,303 | €129,700 | €101,286 | ▼ 21.9% |
| Tangible fixed assets22/27 | €187,275 | €137,150 | €223,587 | €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 | €16,920 | €16,920 | €16,920 | = |
| Current assets29/58 | €129,112 | €150,312 | €182,527 | €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 | €120,161 | €148,049 | €29,708 | €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 | €8,951 | €2,262 | €21,946 | €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 | €333,307 | €304,382 | €423,034 | €417,638 | €341,236 | €300,597 | €260,899 | €152,281 | ▼ 41.6% |
| Equity10/15 | €151,362 | €157,537 | €166,272 | €119,218 | €91,178 | €140,530 | €126,736 | €53,930 | ▼ 57.4% |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | €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 | €38,468 | €38,468 | €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 | €110,394 | €116,570 | €125,304 | €78,250 | €70,718 | €120,070 | - | - | - |
| Amounts payable17/49 | €181,945 | €146,845 | €256,762 | €298,420 | €250,058 | €160,067 | €134,162 | €98,352 | ▼ 26.7% |
| Amounts payable after more than one year17 | €79,945 | €67,514 | €161,674 | €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 | €102,000 | €79,331 | €95,088 | €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 | €49,907 | €39,578 | €41,989 | €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 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,698 | €6,176 | €8,734 | -€47,054 | -€28,040 | €49,352 | -€13,794 | -€72,807 | ▼ 428% |
| + Depreciation and write-downs630 | €67,863 | €51,272 | €47,778 | €38,548 | €51,113 | €42,293 | €31,131 | €9,127 | ▼ 70.7% |
| Operating cash flow (approximation) | €85,562 | €57,448 | €56,512 | -€8,506 | €23,074 | €91,645 | €17,337 | -€63,680 | - |
| Investment in fixed assets (approximation) | - | -€1,147 | -€134,215 | -€40,500 | -€5,300 | -€4,950 | -€1,528 | €19,286 | - |
| Change in cash | - | -€6,689 | €19,684 | -€7,328 | -€12,943 | €748 | -€2,267 | €10 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 13 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-08-2026 | 2026-00471134 |
| 31-12-2024 | micro format | 24-11-2025 | 2025-00569793 |
| 31-12-2023 | micro format | 15-05-2025 | 2025-00101598 |
| 31-12-2022 | micro format | 15-05-2025 | 2025-00101600 |
| 31-12-2021 | micro format | 27-03-2025 | 2025-00061572 |
| 31-12-2020 | micro format | 30-10-2021 | 2021-76200056 |
| 31-12-2019 | micro format | 07-12-2020 | 2020-75300369 |
| 31-12-2018 | micro format | 03-08-2019 | 2019-45200207 |
| 31-12-2017 | micro format | 30-10-2018 | 2018-71100336 |
| 31-12-2016 | full format | 16-08-2017 | 2017-44000528 |
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Of the 12,347 active companies whose main activity is freight transport by road (NACE 49410), figures are known for 8,199. 6,061 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.