T&D
The computed 12-month bankruptcy probability of T&D is 1.8% (moderate). The 2025 annual accounts show equity of €701k and a net result of €-120k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 29% of 7039 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
| Equity | €701k |
| Net result | €-120k |
| Better than sector | 29% |
| Active | 7 yrs |
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 23.4% | 43.8% | |
| Net result | €-120k | €8k | |
| Equity | €701k | €49k | |
| Gross operating margin | €234k | €32k | |
| Total assets | €3.00M | €130k |
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - |
| EBITDA | €228k | €218k | €140k | €140k |
| Net profit | €-120k | €91k | €49k | €62k |
| Cash flow | €170k | €173k | €104k | €112k |
| Staff costs | - | - | - | - |
| Income taxes | €39 | €11k | - | - |
| Dividends | €0 | €144k | - | - |
| Total assets | €3.00M | €1.95M | €1.72M | €1.77M |
| Equity | €701k | €6k | €59k | €10k |
| Debt | €2.30M | €1.95M | €1.67M | €1.76M |
| of which ≤ 1y | €1.18M | €467k | €369k | €354k |
| of which > 1y | €1.09M | €1.48M | €1.29M | €1.41M |
| Working capital | €-1.13M | €-409k | €-320k | €-313k |
| Employees (FTE) | - | - | - | - |
| 2025 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
| Current ratio | 0.04 | 0.12 | 0.13 | 0.12 |
| Quick ratio | 0.04 | 0.12 | 0.13 | 0.12 |
| Working capital ratio | -37.7% | -21.0% | -18.6% | -17.7% |
| Solvency | 23.4% | 0.3% | 3.4% | 0.6% |
| Debt / equity | 3.28 | 313.88 | 28.21 | 171.04 |
| Long-term debt ratio | 1.56 | 237.93 | 21.89 | 136.47 |
| Interest coverage | 3.90 | 6.42 | 3.89 | 5.11 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | -4.0% | 4.7% | 2.8% | 3.5% |
| ROE | -17.0% | 1473.2% | 82.6% | 603.6% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Full annual accounts (23 line items)
| Line item | Code | 2025 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €3.00M | €1.95M | €1.72M | €1.77M |
| Fixed assets | 21/28 | €2.96M | €1.90M | €1.68M | €1.73M |
| Tangible fixed assets | 22/27 | €2.96M | €1.90M | €1.68M | €1.73M |
| Current assets | 29/58 | €45k | €57k | €49k | €41k |
| Amounts receivable within one year | 40/41 | €26k | €180 | €16k | €30k |
| Cash & bank | 54/58 | €13k | €56k | €33k | €11k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €3.00M | €1.95M | €1.72M | €1.77M |
| Equity | 10/15 | €701k | €6k | €59k | €10k |
| Contributions / capital | 10/11 | €31k | €6k | €6k | €6k |
| Reserves | 13 | €639k | €0 | €53k | - |
| Accumulated profits (losses) | 14 | €31k | €0 | €0 | €4k |
| Amounts payable | 17/49 | €2.30M | €1.95M | €1.67M | €1.76M |
| Amounts payable after one year | 17 | €1.09M | €1.48M | €1.29M | €1.41M |
| Amounts payable within one year | 42/48 | €1.18M | €467k | €369k | €354k |
| Trade debts payable within one year | 44 | €22k | €342 | €303 | €4k |
| Income statement | |||||
| Gross operating margin | 9900 | €234k | €230k | €150k | €140k |
| Operating result | 9901 | €-61k | €136k | €85k | €90k |
| Financial income | 75 | €23 | - | €0 | €1 |
| Financial charges | 65 | €58k | €34k | €36k | €27k |
| Result before taxes | 9903 | €-119k | €102k | €49k | €62k |
| Income taxes | 67/77 | €39 | €11k | - | - |
| Net result for the period | 9904 | €-120k | €91k | €49k | €62k |
| Result to be appropriated | 9905 | €-120k | €91k | €49k | €62k |
| NACE primary | General construction of other non-residential buildings(41003) |
| Legal form | Private limited company(610) |
| Incorporation | 12-04-2019 |
| Status | Active |
| Postal code | 3550 |
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71462D0677/00S007 | Flanders | 2,439 m² | 1 · 167 m² | 8.0 m · 2 fl. |
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
21-03-2024 Publication in the Belgian Official Gazette, Miscellaneous
Technical details
{
"stage": "proposal",
"notary": {
"name": "Tom Colson",
"firm_city": null,
"firm_name": null,
"office_city": "Maasmechelen",
"is_associated": false
},
"act_meta": {
"language": "nl",
"pub_date": "2024-03-21",
"filing_date": "2024-03-12",
"act_kind_objet": "Voorstel tot parti\u00EBle splitsing door overneming in de zin van artikel 12:59"
},
"decision": {
"body": "raad_van_bestuur",
"act_date": "2024-03-08",
"unanimous": null
},
"conversion": null,
"detected_kind": "demerger_partial",
"report_waiver": {
"summary": "Het splitsingsvoorstel en het verslag over de parti\u00EBle splitsing worden niet opgesteld, op voorwaarde dat alle aandeelhouders instemmen.",
"articles": [
"12:62 \u00A71",
"12:63"
]
},
"restructuring": {
"parties": [
{
"kbo": "0473.476.497",
"name": "EDCO",
"role": "demerged",
"address": "Kompellaan 21, 3600 Genk",
"is_foreign": false,
"legal_form": "Besloten Vennootschap",
"is_new_company": false,
"jurisdiction_country": "BE"
},
{
"kbo": "0724.841.012",
"name": "T\u0026D",
"role": "recipient",
"address": "Sacramentspad 42, 3550 Heusden-Zolder",
"is_foreign": false,
"legal_form": "Besloten Vennootschap",
"is_new_company": false,
"jurisdiction_country": "BE"
}
],
"exchange_ratio": 4.62,
"legal_articles": [
"12:59",
"12:8"
],
"is_cross_border": false,
"is_silent_merger": false,
"balance_basis_date": "2023-12-31",
"exchange_ratio_text": null,
"new_shares_issued_n": 462,
"real_estate_included": true,
"patrimony_description": "De vastgoedactiviteiten van EDCO BV, waaronder een woonhuis op Sacramentspad 32 en een appartement in het appartementsgebouw Residentie \u0022Bolderhof\u0022 op Sint-Jobstraat 220, worden overgedragen.",
"equity_transferred_eur": 694261.85,
"accounting_effective_date": "2024-01-01"
},
"subject_company": {
"kbo": "0724.841.012",
"name_full": "EDCO",
"legal_form": "Besloten Vennootschap",
"_kbo_extracted_mismatch": "0473.476.497"
},
"publication_proxy": {
"kind": "org",
"org_kbo": "0535.986.366",
"org_name": "BDO CYNEX TAX \u0026 ACCOUNTING BV",
"person_name": null,
"org_rep_person_name": "Kirsten Raemaekers"
},
"summary_narrative": "De besloten vennootschap EDCO (EDCO BV) heeft de intentie om een parti\u00EBle splitsing door te voeren. Hierbij worden de vastgoedactiviteiten, waaronder onroerende goederen in Heusden-Zolder, afgesplitst naar de besloten vennootschap T\u0026D (T\u0026D BV). De bestuursorganen van beide vennootschappen hebben een voorstel tot parti\u00EBle splitsing door overneming opgesteld.",
"co_filed_documents": [
"voorstel tot parti\u00EBle splitsing door overneming in de zin van artikel 12:59 van het Wetboek van vennootschappen en verenigingen"
],
"detected_real_type": "demerger_proposal",
"referenced_correction": null,
"should_reroute_to_category": null
}| Legal nameNL | T&D |