FIVE TREES
ActiveSummary
FIVE TREES has been active since 1999 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.1m and a net result of -€125,607. Equity remains stable across the filed financial years (±1.9% per year). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
- Equity
- €5.1m
- Loss
- -€125,607
- Parent
- TROISMER · 99.5%
- TROISMERDirector · permanent representative SEYNAVE Léon
Why 84raises riskLiquidity: current ratio 1.13, cash €4,990lowers riskSize: total assets €9.3mEquity €5.1m (54.9% of total assets)Founded in 1999Show the evidence
Checked score
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 (no NACE code, small): better than 50% on solvency, 32% on liquidity, 26% on profitability and 29% on growth.
The bankruptcy probability was computed on 29-10-2026 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
This company filed its last 7 accounts on average 12 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · abbreviated…
- Weakest financial yearnet -€125,607
- Annual accounts filedfinancial year 2024 · abbreviated…
Financials · financial year 2025, abbreviated format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €59,642 in 2025 against €77,056 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €0.001m | €0.003m | €0.001m | €0.001m | €0.001m | ▲ 4.2% |
| Gross operating margin9900 | -€0.05m | -€0.1m | -€0.1m | -€0.09m | -€0.1m | -€0.1m | -€0.08m | -€0.06m | ▲ 23.0% |
| Operating profit (loss)9901 | -€0.05m | -€0.1m | -€0.1m | -€0.1m | -€0.1m | -€0.1m | -€0.08m | -€0.06m | ▲ 22.6% |
| Financial income75/76B | - | - | - | €0.05m | €0.03m | €1.3m | €0.2m | €0.1m | ▼ 58.9% |
| Recurring financial income75 | €0.3m | €0.08m | €0.08m | €0.05m | €0.03m | €1.3m | €0.2m | €0.1m | ▼ 58.9% |
| Financial charges65/66B | - | - | - | €0.07m | €0.003m | €0.04m | €0.2m | €0.2m | ▲ 0.3% |
| Recurring financial charges65 | €0.1m | €0.007m | €217 | €0.07m | €0.003m | €0.04m | €0.2m | €0.2m | ▲ 0.3% |
| Profit (loss) for the period before taxes9903 | €0.1m | -€0.05m | -€0.02m | -€0.1m | -€0.08m | €1.2m | -€0.002m | -€0.1m | ▼ 5,953% |
| Income taxes67/77 | - | - | - | - | - | €0.2m | €0 | - | - |
| Profit (loss) for the period9904 | €0.1m | -€0.05m | -€0.02m | -€0.1m | -€0.08m | €0.9m | -€0.002m | -€0.1m | ▼ 5,953% |
| Profit (loss) for the period to be appropriated9905 | €0.1m | -€0.05m | -€0.02m | -€0.1m | -€0.08m | €0.9m | -€0.002m | -€0.1m | ▼ 5,953% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €5.8m | €5.7m | €5.7m | €5.6m | €5.1m | €6.2m | €8.4m | €9.3m | ▲ 10.5% |
| Fixed assets21/28 | - | - | - | €3.5m | €4.3m | €4.5m | €6.4m | €7.2m | ▲ 12.9% |
| Financial fixed assets28 | - | - | - | €3.5m | €4.3m | €4.5m | €6.4m | €7.2m | ▲ 12.9% |
| Current assets29/58 | €5.8m | €5.7m | €5.7m | €2.1m | €0.8m | €1.7m | €2.0m | €2.1m | ▲ 3.3% |
| Amounts receivable within one year40/41 | €5.2m | €5.2m | €5.3m | €2.0m | €0.8m | €1.7m | €2.0m | €2.1m | ▲ 3.5% |
| Trade receivables40 | - | - | - | - | - | - | €0.02m | €0.02m | ▲ 4.7% |
| Other amounts receivable41 | - | - | - | €2.0m | €0.8m | €1.7m | €2.0m | €2.1m | ▲ 3.5% |
| Current investments50/53 | €0.4m | €0.4m | €0.3m | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €141 | €214 | €489 | €386 | €446 | €0.003m | €0.008m | €0.005m | ▼ 34.4% |
| Deferred charges and accrued income490/1 | - | - | - | €0.05m | €0 | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €5.8m | €5.7m | €5.7m | €5.6m | €5.1m | €6.2m | €8.4m | €9.3m | ▲ 10.5% |
| Equity10/15 | €4.6m | €4.5m | €4.5m | €4.4m | €4.3m | €5.2m | €5.2m | €5.1m | ▼ 2.4% |
| Contributions10/11 | €0.006m | €0.006m | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €5.1m | ▲ 2,739× |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €0.002m | €0.002m | €5.1m | ▲ 2,739× |
| Profit (loss) carried forward14 | €4.6m | €4.5m | €4.5m | €4.4m | €4.3m | €5.2m | €5.2m | €0 | ▼ 100% |
| Amounts payable17/49 | €1.2m | €1.2m | €1.2m | €1.2m | €0.8m | €1.0m | €3.2m | €4.2m | ▲ 31.8% |
| Amounts payable after more than one year17 | €1.2m | €1.2m | €1.2m | €1.2m | €0.3m | €0.3m | €2.3m | €2.3m | ▲ 0.7% |
| Financial debts170/4 | - | - | - | - | €0.3m | €0.3m | €2.3m | €2.3m | ▲ 0.7% |
| Other amounts payable178/9 | - | - | - | €1.2m | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.05m | €0.02m | €0.09m | €0.03m | €0.5m | €0.7m | €0.9m | €1.9m | ▲ 116% |
| Trade debts44 | €0.04m | €0.001m | €0.001m | €0.001m | €0.001m | €187 | €0 | €216 | - |
| Suppliers440/4 | - | - | - | €0.001m | €0.001m | €187 | €0 | €216 | - |
| Taxes, remuneration and social security45 | - | - | - | - | €0.002m | €0.2m | €0.2m | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | - | €0.002m | €0.2m | €0.2m | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €0.03m | €0.5m | €0.5m | €0.6m | €1.9m | ▲ 201% |
| Accrued charges and deferred income492/3 | - | - | - | €449 | €0 | - | €0.03m | €0.02m | ▼ 13.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.1m | -€0.05m | -€0.02m | -€0.1m | -€0.08m | €0.9m | -€0.002m | -€0.1m | ▼ 5,953% |
| Operating cash flow (approximation) | €0.1m | -€0.05m | -€0.02m | -€0.1m | -€0.08m | €0.9m | -€0.002m | -€0.1m | ▼ 5,953% |
| Investment in fixed assets (approximation) | - | - | - | - | -€0.8m | -€0.2m | -€1.9m | -€0.8m | ▲ 55.9% |
| Change in cash | - | €74 | €274 | -€103 | €60 | €0.003m | €0.004m | -€0.003m | - |
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 28 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 09-07-2026 | 2026-00279969 |
| 31-12-2024 | abbreviated format | 25-07-2025 | 2025-00324764 |
| 31-12-2023 | abbreviated format | 25-07-2024 | 2024-00290650 |
| 31-12-2022 | abbreviated format | 28-08-2023 | 2023-00410426 |
| 31-12-2021 | abbreviated format | 29-07-2022 | 2022-20266693 |
| 31-12-2020 | abbreviated format | 24-08-2021 | 2021-52900514 |
| 31-12-2019 | abbreviated format | 08-10-2020 | 2020-60700049 |
| 31-12-2018 | abbreviated format | 29-08-2019 | 2019-62800476 |
| 31-12-2017 | abbreviated format | 30-07-2018 | 2018-40700456 |
| 31-12-2016 | abbreviated format | 31-08-2017 | 2017-59400066 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 1
Permanent representatives 1
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| TROISMER |
|
Owners and capital
Owners
1 ownerChain of control
- TROISMER
- FIVE TREES
Highest known parent: TROISMER. The sources do not say who stands above it.
Owners 1
- TROISMERparentSourceaccounts TROISMER 202599.5%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- 25-03-2024 Converted to unavailable equity
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
25-03
Gazette deed
Resignation: TROISMER (manager)Appointment: TROISMER (director) · Permanent representative: SEYNAVE Léon · Amendment of the articles11 facts ▸
- General meeting, 28-12-2023
- Amendment of the articles (2 times)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Registered office clause, “Vlaams Gewest, eenparigheid van stemmen” (deed in Dutch)
- Director resignation, TROISMER (manager (not named in the articles))
- Director appointment, TROISMER (director (not named in the articles))
- Permanent representative, SEYNAVE Léon
- Other provision, “vertegenwoordiging bij aanvaarding mandaat, vertegenwoordigt besloten vennootschap TROISMER ingevolge volmacht” (deed in Dutch)
- Director discharge, TROISMER (ontslagnemende zaakvoerder)
- Power of attorney, Nicolas INDEKEU
- Capital
Show earlier events
About the unread acts
Of the 3 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Legal Entity Identifier
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23095B0028/00P002 | Flanders | 2,412 m² | 1 · 2,060 m² | 11.1 m · 3 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Het door middel van inschrijving,inbreng,fusie,samenwerking,financiële tussenkomst of anderszins verwerven van een belang of deelneming in…” (deed in Dutch)
12 activities (deed in Dutch)
- Het door middel van inschrijving,inbreng,fusie,samenwerking,financiële tussenkomst of anderszins verwerven van een belang of deelneming in alle bestaande of nog op te richten bedrijvigheden,vennootschappen of verenigingen in België of in het buitenland zonder onderscheid;
- Het beheren,valoriseren,verkopen,te gelde maken of anderszins vervreemden van deze participaties of belangen;
- Alle financiële transacties en financiële overeenkomsten,behoudens deze activiteiten die wettelijk voorbehouden zijn aan spaar-en depositobanken en aan vennootschappen voor vermogensbeheer en beleggingsadvies;
- Het rechtstreeks of onrechtstreeks deelnemen aan het bestuur,de directie,de controle en vereffening van de vennootschappen waarin zij een belang of deelneming heeft en in het algemeen alle verrichtingen die rechtstreeks of onrechtstreeks,geheel of gedeeltelijk verband houden met de activiteiten van een holding.
- Adviesbureau op het gebied van bedrijfsvoering en beheer waaronder onder meer maar niet uitsluitend het verlenen van advies en praktische hulp aan bedrijven in verband met public relations en communicatie,het verlenen van adviezen en hulp aan het bedrijfsleven en de overheid op gebied van bijvoorbeeld planning,organisatie,efficiëntie en toezicht,het verschaffen van informatie aan de bedrijfsleiding,het berekenen van de kosten en baten van de voorgestelde maatregelen op het gebied van planning,organisatie en efficiëntie,het verlenen van adviezen op het gebied van beheer in het algemeen;
- Het tussenkomen in het dagelijks bestuur en het vertegenwoordigen van bedrijven door onder meer het uitoefenen van mandaten van bestuurder,zaakvoerder,directeur,beheerder of vereffenaar;
- Studie,organisatie en raadgevend bureau inzake financiële,handels,bedrijfseconomische of sociale aangelegenheden met inbegrip van alle handelingen die verband houden met advies,documentatie en publicatie over juridische,sociale,economische en financiële problemen;
- Personeelsadministratie,omvattende het beheer van het personeelsbeleid en het voeren van de loon-en salarisadministratie,dit zowel van het eigen personeel als van het personeel van de vennootschappen waarin zij participeert;
- Het begeleiden van bedrijven op het gebied van handel,nijverheid en administratie,het verrichten van secretariaatswerkzaamheden,het domiciliëren van bedrijven,het ter beschikking stellen van kantoren,magazijnen en fabricageruimten,het verrichten van voorbereidende studies en adviezen op gebied van management,bedrijfsvoering,economische wetgeving,marketing,export en import,het drukken en uitgeven van studies,rapporten en het verlenen van hulp aan bedrijven in oprichting of bij overname van bestaande bedrijven,zenden en ontvangen van post en meer in het algemeen alles te doen wat de oprichting,de uitbating en het beheer van de bedrijven van nut kan zijn.
- Het toestaan van leningen en kredietopeningen aan vennootschappen of particulieren,onder om het even welke vorm;in dit kader kan zij zich ook borg stellen of haar aval verlenen,in de meest ruime zin,alle handels-en financiële operaties verrichten behalve die welke wettelijk voorbehouden zijn aan depositobanken,houders van deposito’s op korte termijn,spaarkassen,hypotheekmaatschappijen,kapitalisatieondernemingen,ondernemingen voor vermogensbeheer en beleggingsadvies;
- Alle verrichtingen met betrekking tot onroerende goederen en onroerende zakelijke rechten zoals onder meer erfpacht-en opstalrechten en de huurfinanciering van onroerende goederen aan derden,het aankopen en verkopen zowel in volle eigendom als in vruchtgebruik en/of blote eigendom,ruilen,doen bouwen,doen verbouwen,onderhouden,verhuren,huren,verkavelen,prospecteren en uitbaten van onroerende goederen,de aan-en verkoop,huur en verhuur van roerende goederen betreffende de inrichting en uitrusting van onroerende goederen,alsmede alle handelingen die rechtstreeks of onrechtstreeks met dit doel in verband staan en die van aard zijn de opbrengst van de roerende en onroerende goederen te bevorderen.
- Alle verrichtingen met betrekking tot kunst in de ruimste zin van het woord zoals onder meer kopen en verkopen,huren en verhuren,houden,bewaren,laten restaureren,opslaan of vervoeren van kunstwerken,daaronder onder meer begrepen hedendaagse kunst,schilderijen,beeldhouwwerken,etsen,tekeningen,gravuren,litho’s,zowel originelen als reproducties,evenals antiek,oude kunstvoorwerpen en archeologische voorwerpen,met inbegrip van alle aanverwante artikelen zoals kaders en lijsten en alle toebehoren,in de ruimste zin van het woord.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- FIVE TREES
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, vennootschap kan bij enkel besluit bestuursorgaan in België en buitenland administratieve…” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Met of zonder beperking van duur, een of drie bestuurders” (deed in Dutch)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Op naam, ten aanzien van vennootschap en derden” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Second Friday of June at 16:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Besluit algemene vergadering in vorm en wijze voor statutenwijziging, elk ogenblik” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Algemene vergadering bepaalt overeenkomstig wettelijke bepalingen” (deed in Dutch)