Summary
T.S.L. is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €2.3m and a net result of €19,862. Its solvency ranks better than 23% of 2817 sector peers (fiscal year 2024). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 02-06-2025, 59 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
not confirmed
2024
59 d early
2023
65 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 2 accounts on average 62 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
In the rankings
#2 company by equity in Visé, Finance and insurance sector#3 company by total assets in Visé, Finance and insurance sector
Equity
€2.3m▲ 0.9%
2023 · €2.3m
Net result
€19,862
2023 · -€208,048
Total assets
€9.1m▼ 15.4%
2023 · €10.8m
Solvency
25.7%▲ 4.2pp
2023 · 21.5%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20232024
Turnover€31,570
Operating result-€68,542--€17,932▲ 73.8%
Net result-€208,048below the sector's middle half-€19,862within the sector's middle half
Equity€2.3mabove the sector's middle half-€2.3mwithin the sector's middle half▲ 0.9%
Total assets€10.8mabove the sector's middle half-€9.1mwithin the sector's middle half▼ 15.4%
Debt€8.5m-€6.8m▼ 19.9%
Working capital-€2.7mbelow the sector's middle half--€523,841within the sector's middle half▲ 80.3%
Solvency21.5%below the sector's middle half-25.7%below the sector's middle half▲ 4.2pp
Current ratio0.55within the sector's middle half-0.88within the sector's middle half▲ 0.33
Return on assets (ROA)-1.9%below the sector's middle half-0.2%within the sector's middle half▲ 2.1pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €17,932 in 2024 against €68,542 in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €9.1m
Fixed assets
€5.2m ▼ 31.4%
Current assets
€4.0m ▲ 21.3%
Equity and liabilities €9.1m
Equity
€2.3m ▲ 0.9%
Debt
€6.8m ▼ 19.9%
Debt's share of the balance-sheet total falls from 78.5% to 74.3%. Equity is higher and debt is lower.
Key figures and ratios
ROE
0.8%▲
2023 · -9.0%
Debt ≤ 1 year
€4.5m▼
2023 · €5.9m
Debt > 1 year
€2.3m▼
2023 · €2.5m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Turnover70 | - | €31,570 | - |
| Goods, raw materials, services and sundry goods60/61 | €68,542 | €39,571 | ▼ 42.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €6,972 | - |
| Other operating charges640/8 | - | €2,959 | - |
| Gross operating margin9900 | -€68,542 | -€8,001 | ▲ 88.3% |
| Operating profit (loss)9901 | -€68,542 | -€17,932 | ▲ 73.8% |
| Financial income75/76B | €77,432 | €264,443 | ▲ 242% |
| Recurring financial income75 | €77,432 | €264,443 | ▲ 242% |
| Financial charges65/66B | €216,938 | €226,649 | ▲ 4.5% |
| Recurring financial charges65 | €216,938 | €226,649 | ▲ 4.5% |
| Profit (loss) for the period before taxes9903 | -€208,048 | €19,862 | ▲ 110% |
| Profit (loss) for the period9904 | -€208,048 | €19,862 | ▲ 110% |
| Profit (loss) for the period to be appropriated9905 | -€208,048 | €19,862 | ▲ 110% |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €10.8m | €9.1m | ▼ 15.4% |
| Formation expenses20 | €0 | €0 | - |
| Fixed assets21/28 | €7.5m | €5.2m | ▼ 31.4% |
| Intangible fixed assets21 | €225,000 | €225,000 | = |
| Financial fixed assets28 | €7.3m | €4.9m | ▼ 32.4% |
| Current assets29/58 | €3.3m | €4.0m | ▲ 21.3% |
| Amounts receivable within one year40/41 | €3.3m | €3.9m | ▲ 19.3% |
| Trade receivables40 | €84,403 | €318,463 | ▲ 277% |
| Other amounts receivable41 | €3.2m | €3.6m | ▲ 12.5% |
| Cash at bank and in hand54/58 | €473 | €65,736 | ▲ 13,805% |
| Deferred charges and accrued income490/1 | €130 | €0 | ▼ 100% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €10.8m | €9.1m | ▼ 15.4% |
| Equity10/15 | €2.3m | €2.3m | ▲ 0.9% |
| Contributions10/11 | €3.6m | €3.6m | = |
| Capital10 | - | €3.6m | - |
| Issued capital100 | - | €3.6m | - |
| Profit (loss) carried forward14 | -€1.3m | -€1.3m | ▲ 1.5% |
| Amounts payable17/49 | €8.5m | €6.8m | ▼ 19.9% |
| Amounts payable after more than one year17 | €2.5m | €2.3m | ▼ 9.9% |
| Financial debts170/4 | €2.5m | €2.3m | ▼ 9.9% |
| Amounts payable within one year42/48 | €5.9m | €4.5m | ▼ 24.2% |
| Financial debts43 | €62,500 | €250,000 | ▲ 300% |
| Credit institutions430/8 | €62,500 | €250,000 | ▲ 300% |
| Trade debts44 | €622,673 | €804,638 | ▲ 29.2% |
| Suppliers440/4 | €622,673 | €804,638 | ▲ 29.2% |
| Taxes, remuneration and social security45 | €1,417 | €3,426 | ▲ 142% |
| Taxes450/3 | €1,417 | €3,426 | ▲ 142% |
| Other amounts payable47/48 | €5.2m | €3.4m | ▼ 34.5% |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€208,048 | €19,862 | ▲ 110% |
| Operating cash flow (approximation) | -€208,048 | €19,862 | ▲ 110% |
| Investment in fixed assets (approximation) | - | €2.4m | - |
| Change in cash | - | €65,263 | - |
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
2026
19-08
State Gazette act
Resignation: INITIATEL (non-statutory director)Permanent representatives: Bernard GENDEBIEN and Julien LAZZARI · Shareholding5 facts ▸
State Gazette act
Resignation: INITIATEL (non-statutory director)
Permanent representatives: Bernard GENDEBIEN and Julien LAZZARI · Shareholding5 facts ▸
- General meeting, 17-07-2026
- Director resignation, INITIATEL (non-statutory director)
- Permanent representative, Bernard GENDEBIEN (permanent representative)
- Permanent representative, Julien LAZZARI (permanent representative)
- Shareholding, Twintec Group S.à.r.l.
2025
02-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €19,862
Net result €19,862 after one loss-making year.
30-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
27-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts 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.
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Directors · office · real estate
Directors
no sitting director, last change in 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Not every act has been read: a resignation may be missing here
2 of this company's 3 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Visé · 1 establishment unit since 2023
Ground area
570 m²
Building footprint
577 m²
Volume, LiDAR
3,396 m³
Parcel 62108B0131/00Y000, Wallonia · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
T.S.L.
since 20232.354.011.737
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62108B0131/00Y000 | Wallonia | 570 m² | 1 · 577 m² | 7.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 0 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| INITIATEL |
|
Structure & network
Owners and holdings
4 holdingsOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 4
-
100%
-
100%
-
100%
-
100%
According to the 2024 annual accounts of T.S.L. and those of the other companies, the acts in the Belgian Gazette and the LEI register. 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 fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Capital and shareholders
Shareholders according to the acts
Stated in the act
act of 19-08-2026 ↗
- Twintec Group S.à.r.l. all shares
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,800. 10,447 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded07-09-2023
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
Contact
E-mail
a.elkassimi@twintec.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0805569261
Also
9925:BE0805569261
Registered
16-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.