Liquidity
Short-term debts fell from €53,434 to €34,685.
Short-term debts fell from €53,434 to €34,685.
Three of the last ten came late. The 2019 accounts came latest: 31 days after the end of the period.
Absorbed by TSO GROUP BELGIUM. Absorbed on 18-08-2025.
Absorbed by TSO GROUP in August 2025. The last annual accounts are for financial year 2024. The company was dissolved without liquidation.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover: not included in this filing.
| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||||
20/58 |
699,692 | 673,415 | 673,166 | 676,674 | 673,903 | 674,731 | 673,403 | 673,637 | 674,038 | 674,661 | 680,281 | 707,560 | 700,220 | 726,298 | 740,323 | 666,145 | 633,738 | 600,179 | 559,960 | |
20 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | - | |
21/28 |
612,290 | 612,290 | 612,290 | 612,290 | 612,290 | 612,290 | 612,290 | 612,290 | 612,290 | 612,290 | 612,290 | 612,290 | 612,290 | 612,290 | 631,355 | 540,211 | 540,211 | 540,211 | 540,211 | |
28 |
612,290 | 612,290 | 612,290 | 612,290 | 612,290 | 612,290 | 612,290 | 612,290 | 612,290 | 612,290 | 612,290 | 612,290 | 612,290 | 612,290 | 631,355 | 540,211 | 540,211 | 540,211 | 540,211 | |
29/58 |
87,402 | 61,125 | 60,876 | 64,384 | 61,613 | 62,441 | 61,113 | 61,347 | 61,748 | 62,371 | 67,991 | 95,270 | 87,930 | 114,008 | 108,968 | 125,934 | 93,527 | 59,968 | 19,749 | |
40/41 |
17,072 | - | - | - | - | - | - | 184 | 184 | 184 | 184 | 23,451 | 2,263 | 49,396 | 44,696 | 122,103 | 39,704 | 44,733 | 19,373 | |
41 |
17,072 | - | - | - | - | - | - | 184 | 184 | 184 | 184 | 23,451 | 2,263 | 49,396 | 44,696 | 122,103 | 39,704 | 44,733 | 19,373 | |
50/53 |
60,700 | 60,700 | 60,700 | 60,700 | 60,700 | 60,700 | 60,700 | 60,700 | 60,700 | 60,700 | 60,700 | 60,700 | 60,700 | 60,700 | 60,700 | 0 | 40,000 | - | - | |
54/58 |
9,629 | 425 | 176 | 3,684 | 912 | 1,740 | 413 | 462 | 864 | 1,486 | 7,106 | 11,119 | 24,966 | 3,912 | 3,572 | 3,831 | 13,798 | 15,235 | 376 | |
490/1 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 25 | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||||||||
10/49 |
699,692 | 673,415 | 673,166 | 676,674 | 673,903 | 674,731 | 673,403 | 673,637 | 674,038 | 674,661 | 680,281 | 707,560 | 700,220 | 726,298 | 740,323 | 666,145 | 633,738 | 600,179 | 559,960 | |
10/15 |
600,803 | 544,128 | 456,880 | 465,192 | 474,127 | 482,819 | 491,979 | 501,765 | 512,010 | 523,787 | 524,014 | 166,978 | 527,710 | 531,848 | 560,008 | 598,371 | 632,431 | 599,238 | 537,892 | |
10/11 |
470,137 | 470,137 | 470,137 | 470,137 | 470,137 | 470,137 | 470,137 | 470,137 | 470,137 | 470,137 | 470,137 | 130,325 | 168,999 | 168,999 | 168,999 | 168,999 | 235,499 | 235,499 | 235,499 | |
10 |
470,137 | 470,137 | 470,137 | 470,137 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
100 |
470,137 | 470,137 | 470,137 | 470,137 | 470,137 | 470,137 | 470,137 | 470,137 | 470,137 | 470,137 | 470,137 | 130,325 | 168,999 | 168,999 | 168,999 | 168,999 | 235,499 | 235,499 | 235,499 | |
13 |
84,211 | 53,877 | 53,877 | 53,877 | 53,877 | 53,877 | 53,877 | 53,877 | 53,877 | 53,877 | 53,877 | 19,816 | 80,516 | 80,516 | 80,516 | 19,816 | 19,816 | 18,156 | 18,156 | |
130/1 |
84,211 | 53,877 | 53,877 | 53,877 | 53,877 | 33,200 | 33,200 | 33,200 | 33,200 | 33,200 | 33,200 | - | 60,700 | 60,700 | 60,700 | - | - | - | - | |
130 |
23,511 | 20,677 | 20,677 | 20,677 | 20,677 | 20,677 | 20,677 | 20,677 | 20,677 | 20,677 | 20,677 | 19,816 | 19,816 | 19,816 | 19,816 | 19,816 | 19,816 | 18,156 | 18,156 | |
1312 |
60,700 | 33,200 | 33,200 | 33,200 | - | 33,200 | 33,200 | 33,200 | 33,200 | 33,200 | 33,200 | - | 60,700 | 60,700 | 60,700 | - | - | - | - | |
14 |
46,454 | 20,114 | -67,134 | -58,822 | -49,887 | -41,195 | -32,035 | -22,249 | -12,004 | -227 | - | 16,837 | 278,195 | 282,333 | 310,493 | 409,556 | 377,116 | 345,583 | 284,237 | |
16 |
64,204 | 75,853 | 86,843 | 97,210 | 106,991 | 116,217 | 124,922 | 133,134 | 140,881 | 148,190 | 155,085 | 161,589 | 167,726 | 173,515 | 178,971 | - | - | - | - | |
160/5 |
64,204 | 75,853 | 86,843 | 97,210 | 106,991 | 116,217 | 124,922 | 133,134 | 140,881 | 148,190 | 155,085 | 161,589 | 167,726 | 173,515 | 178,971 | - | - | - | - | |
161 |
- | - | - | - | 106,991 | 116,217 | 124,922 | 133,134 | 140,881 | - | - | - | - | - | - | - | - | - | - | |
163 |
64,204 | 75,853 | 86,843 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
164/5 |
- | - | - | 97,210 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
17/49 |
34,685 | 53,434 | 129,443 | 114,272 | 92,785 | 75,694 | 56,502 | 38,738 | 21,147 | 2,684 | 1,182 | 378,993 | 4,784 | 20,935 | 1,344 | 67,774 | 1,307 | 941 | 22,068 | |
42/48 |
34,685 | 53,434 | 129,443 | 111,572 | 92,785 | 74,344 | 56,502 | 38,738 | 21,147 | 2,684 | 1,182 | 378,993 | 4,784 | 20,935 | 1,344 | 67,774 | 1,307 | 941 | 22,068 | |
42 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 20,909 | |
43 |
- | - | - | - | - | - | - | - | - | - | - | - | 0 | 249 | - | - | - | - | - | |
430/8 |
- | - | - | - | - | - | - | - | - | - | - | - | 0 | 249 | - | - | - | - | - | |
44 |
387 | 384 | - | 220 | - | - | - | 156 | - | 1,184 | 1,182 | 1,245 | 1,117 | 1,112 | 1,112 | 1,042 | 1,042 | 908 | - | |
440/4 |
387 | 384 | - | 220 | - | - | - | 156 | - | 1,184 | 1,182 | 1,245 | 1,117 | 1,112 | 1,112 | 1,042 | 1,042 | 908 | - | |
45 |
- | - | - | - | - | - | - | - | 1,350 | - | - | 37,757 | - | - | - | - | - | - | - | |
450/3 |
- | - | - | - | - | - | - | - | - | - | - | 37,757 | - | - | - | - | - | - | - | |
454/9 |
- | - | - | - | - | - | - | - | 1,350 | - | - | - | - | - | - | - | - | - | - | |
47/48 |
34,297 | 53,050 | 129,443 | 111,352 | 92,785 | 74,344 | 56,502 | 38,582 | 19,797 | 1,500 | - | 339,991 | 3,667 | 19,574 | 232 | 66,732 | 266 | 33 | 1,159 | |
492/3 |
- | - | - | 2,700 | - | 1,350 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Income statement | ||||||||||||||||||||
70 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 30,000 | - | - | - | - | |
76A |
- | - | - | - | - | - | - | - | - | - | - | - | - | 635 | - | - | - | - | - | |
9900 |
- | - | - | - | - | 0 | 0 | 0 | -1,637 | -1,029 | -4,196 | -7,122 | -6,863 | -2,969 | 28,987 | -2,008 | -908 | -1,815 | -847 | |
60/61 |
- | - | - | - | - | - | - | - | - | 1,029 | 4,196 | 7,122 | 6,863 | 2,969 | 1,013 | 2,008 | 908 | 1,815 | 847 | |
635/8 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 6 | - | - | - | - | - | |
640/8 |
692 | 689 | 592 | 861 | 420 | 640 | 1,045 | 1,312 | 1,088 | 2,119 | 1,179 | 1,768 | 1,461 | 1,378 | 1,927 | 993 | 616 | 985 | 1,021 | |
9901 |
-692 | -689 | -592 | -861 | -420 | -640 | -1,045 | -1,312 | -2,725 | -3,147 | -5,375 | -8,890 | -8,324 | -4,353 | 27,060 | -3,001 | -1,523 | -2,800 | -1,868 | |
75/76B |
62,622 | 94,550 | - | - | - | - | - | - | - | 12,227 | 32,877 | 35,793 | 18,475 | - | 17,324 | 35,716 | 34,962 | 65,585 | 1,378 | |
75 |
62,622 | 94,550 | - | - | - | - | - | - | - | 12,227 | 32,877 | 35,793 | 18,475 | - | 17,324 | 35,716 | 34,962 | 65,585 | 1,378 | |
65/66B |
5,255 | 6,613 | 7,721 | 8,074 | 8,273 | 8,520 | 8,741 | 8,933 | 9,052 | 9,307 | 10,278 | 10,066 | 10,775 | 11,101 | 270 | 279 | 246 | 1,435 | 2,601 | |
65 |
5,255 | 6,613 | 7,721 | 8,074 | 8,273 | 8,520 | 8,741 | 8,933 | 9,052 | 9,307 | 10,278 | 10,066 | 10,775 | 11,101 | 270 | 279 | 246 | 1,435 | 2,601 | |
9903 |
56,675 | 87,248 | -8,312 | -8,934 | -8,693 | -9,160 | -9,786 | -10,245 | -11,777 | -227 | 17,224 | 16,837 | -624 | -14,818 | 44,114 | 32,436 | 33,193 | 61,350 | -3,091 | |
67/77 |
- | - | - | - | - | - | - | - | - | - | - | - | 80 | - | - | -4 | - | 4 | 250 | |
9904 |
56,675 | 87,248 | -8,312 | -8,934 | -8,693 | -9,160 | -9,786 | -10,245 | -11,777 | -227 | 17,224 | 16,837 | -703 | -14,818 | 44,114 | 32,440 | 33,193 | 61,346 | -3,341 | |
9905 |
56,675 | 87,248 | -8,312 | -8,934 | -8,693 | -9,160 | -9,786 | -10,245 | -11,777 | -227 | 17,224 | 16,837 | -703 | -14,818 | 44,114 | 32,440 | 33,193 | 61,346 | -3,341 | |
| Appropriation of the result | ||||||||||||||||||||
9906 |
76,789 | 20,114 | -67,134 | -58,822 | -49,887 | -41,195 | -32,035 | -22,249 | -12,004 | -227 | 34,061 | 295,032 | 281,630 | 295,675 | 453,670 | 409,556 | 378,776 | 345,583 | 284,237 | |
14P |
20,114 | -67,134 | -58,822 | -49,887 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | - | - | - | - | - | - | - | - | - | - | 99,374 | - | - | - | - | - | - | - | |
691/2 |
30,334 | - | - | - | - | - | - | - | - | - | 34,061 | - | - | - | 143,177 | - | 1,660 | - | - | |
6920 |
2,834 | - | - | - | - | - | - | - | - | - | 861 | - | - | - | - | - | 1,660 | - | - | |
6921 |
27,501 | - | - | - | - | - | - | - | - | - | 33,200 | - | - | - | 143,177 | - | - | - | - | |
694/7 |
- | - | - | - | - | - | - | - | - | - | - | 377,569 | 3,435 | 13,342 | - | - | - | - | - | |
694 |
- | - | - | - | - | - | - | - | - | - | - | 377,569 | 3,435 | 13,342 | - | - | - | - | - | |
| Document | ||||||||||||||||||||
The accounts for 6 older financial years (2000-2005) were filed as documents without figures as data, scans for example.
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2024 (PDF), filed on 15-07-2025.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | full format | 15-07-2025 | 2025-00275589 | |
| 31-12-2023 | full format | 28-06-2024 | 2024-00192235 | |
| 31-12-2022 | full format | 03-07-2023 | 2023-00205071 | |
| 31-12-2021 | full format | 26-07-2022 | 2022-20241237 | |
| 31-12-2020 | full format | 26-08-2021 | 2021-54800399 | |
| 31-12-2019 | full format | 31-08-2020 | 2020-49600057 | |
| 31-12-2018 | full format | 28-08-2019 | 2019-55900427 | |
| 31-12-2017 | full format | 31-07-2018 | 2018-42700538 | |
| 31-12-2016 | full format | 19-07-2017 | 2017-33500578 | |
| 31-12-2015 | full format | 25-07-2016 | 2016-36200003 | |
| 31-12-2014 | full format | 24-08-2015 | 2015-47700550 | |
| 31-12-2013 | full format | 28-07-2014 | 2014-36300434 | |
| 31-12-2012 | full format | 07-08-2013 | 2013-41900394 | |
| 31-12-2011 | full format | 30-08-2012 | 2012-51400122 | |
| 31-12-2010 | full format | 28-07-2011 | 2011-34500195 | |
| 31-12-2009 | full format | 03-07-2010 | 2010-28900371 | |
| 31-12-2008 | full format | 05-08-2009 | 2009-54500183 | |
| 31-12-2007 | full format | 11-07-2008 | 2008-41700099 | |
| 31-12-2006 | full format | 03-07-2007 | 2007-35600172 | |
| 31-12-2005 | full format | 18-07-2006 | 2006-49003439 | |
| 31-12-2004 | full format | 03-08-2005 | 2005-62802437 | |
| 31-12-2003 | full format | 30-09-2004 | 2004-69402364 | |
| 31-12-2002 | full format | 31-07-2003 | 2003-58705081 | |
| 31-12-2001 | full format | 29-08-2002 | 2002-51403355 | |
| 31-12-2000 | full format | 20-08-2001 | 2001-51103257 |
| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | 91,144 | - | - | - | - | ||
| 9,204 | 249 | -3,508 | 2,771 | -828 | 1,327 | -49 | -402 | -623 | -5,620 | -4,012 | -13,848 | 21,055 | 340 | -259 | -9,968 | -1,437 | 14,859 | - | ||
| 52,717 | 7,691 | -68,567 | -47,188 | -31,173 | -11,903 | 4,611 | 22,609 | 40,601 | 59,687 | 66,809 | -283,723 | 83,146 | 93,073 | 107,624 | 58,160 | 92,220 | 59,027 | -2,319 | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | 90.2% | - | - | - | - | ||
| 85.9% | 80.8% | 67.9% | 68.7% | 70.4% | 71.6% | 73.1% | 74.5% | 76.0% | 77.6% | 77.0% | 23.6% | 75.4% | 73.2% | 75.6% | 89.8% | 99.8% | 99.8% | 96.1% | ||
| 2.52 | 1.14 | 0.47 | 0.58 | 0.66 | 0.84 | 1.08 | 1.58 | 2.92 | 23.24 | 57.52 | 0.25 | 18.38 | 5.45 | 81.08 | 1.86 | 71.56 | 63.75 | 0.89 | ||
| 0.06 | 0.10 | 0.28 | 0.25 | 0.20 | 0.16 | 0.11 | 0.08 | 0.04 | 0.01 | 0.00 | 2.27 | 0.01 | 0.04 | 0.00 | 0.11 | 0.00 | 0.00 | 0.04 | ||
| 9.4% | 16.0% | -1.8% | -1.9% | -1.8% | -1.9% | -2.0% | -2.0% | -2.3% | 0.0% | 3.3% | 10.1% | -0.1% | -2.8% | 7.9% | 5.4% | 5.2% | 10.2% | -0.6% | ||
| 8.1% | 13.0% | -1.2% | -1.3% | -1.3% | -1.4% | -1.5% | -1.5% | -1.7% | 0.0% | 2.5% | 2.4% | -0.1% | -2.0% | 6.0% | 4.9% | 5.2% | 10.2% | -0.6% | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | 544 days | - | - | - | - | ||
| - | - | - | - | - | - | - | - | - | 420 days | 103 days | 64 days | 59 days | 137 days | 401 days | 189 days | 419 days | 183 days | - |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
The operating result for 2024 is a loss of €692, larger than the loss of €689 in 2023. It is the lowest result since 2021.
Debt's share of the balance-sheet total falls from 7.9% to 5.0%. Equity is higher and debt is lower.
Source: lists of holdings in the owners' accounts
Source: list of holdings in its own 2024 accounts. Every holding stands with its own latest accounts.
Source for every holding own accounts 2024
EXPERTISE DEVELOPMENT or one of its subsidiaries holds more than half of the shares of these companies. A company it consolidates per the LEI register is listed too.
The network starts from the directors of EXPERTISE DEVELOPMENT. Every other company they run is a node.
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
deed of 21-11-2016 (in French)
EXPERTISE DEVELOPMENT is no longer in the KBO register. TSO GROUP took it over in a merger by absorption, published in the Belgian Official Gazette on 18 August 2025.
If something looks wrong or is missing, please tell us.