Financials
- Fiscal year
- 2025
- Total assets
- €976,347
- Loss
- -€338,447
- Solvency
- 26.3%
Total assets▼ 41.4%
Net result
20192025
TB-D
ActiveSummary
The computed 12-month bankruptcy probability of TB-D is 4.2% (elevated). The annual accounts of TB-D for fiscal year 2025 show a net loss of 57% of the equity at the start of that year. The 2025 annual accounts show equity of €256,604 and a net result of -€338,447. Equity is shrinking by ~10.8% per year across the filed fiscal years. Its solvency ranks better than 28% of 9042 sector peers (fiscal year 2025). The company has been active since 1973 and the Belgian State Gazette contains no insolvency or warning signals.
Overview
Activity
Floor and wall tiling
NACE 43331NACE 45431
#3 oldest company in Zulte, Construction sector1 site
Size
€976,347total assets 2025
- Staff
- 6.4 FTE
- Equity
- €256,604
- Loss
- -€338,447
Turnover not published (abridged schema)
Structure
- Parent
- JUSTASTONE · 100%
Accounts on time1 of 16 deeds read
Why 46- Loss of €338,447, the second in a row (FY 2025)- Liquidity: current ratio 1.16, cash €601, halved- 1 change of registered office in 24 months- Sector Specialised construction activities (NACE 43)Show the evidence
Checked score
Score 2025
46
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Better than 11% of its sector peers (NACE 43, micro)
Performance against the sector, not lower risk
Financial strength · tick = 2024
Weak
Solvency
51-10
equity 26.3% of total assets
Liquidity
11-11
short-term debt 72.9% · cash 0.1%
Profitability
0-6
return on assets -34.7%
Bankruptcy probability, 12 months
4.2%
Elevated
0%0.5%1.5%4%10%≥ 25%
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.6%
12-2024: 0.3%▼ -43.8% vs 11-2024lowest value
01-2025: 0.3%▲ +2.7% vs 12-2024
02-2025: 0.4%▲ +3.2% vs 01-2025
03-2025: 0.4%▲ +2.0% vs 02-2025
04-2025: 0.4%▲ +22.1% vs 03-2025
05-2025: 1.6%▲ +266% vs 04-2025
06-2025: 1.6%● 0.0% vs 05-2025
07-2025: 1.6%● 0.0% vs 06-2025
08-2025: 1.6%● 0.0% vs 07-2025
09-2025: 1.6%● 0.0% vs 08-2025
10-2025: 1.6%● 0.0% vs 09-2025
11-2025: 1.6%● 0.0% vs 10-2025
12-2025: 2.3%▲ +45.2% vs 11-2025
01-2026: 2.5%▲ +6.3% vs 12-2025
02-2026: 2.5%▲ +3.1% vs 01-2026
03-2026: 2.5%▲ +0.2% vs 02-2026
04-2026: 2.5%▼ -1.3% vs 03-2026
05-2026: 4.2%▲ +68.2% vs 04-2026highest value
06-2026: 4.2%● 0.0% vs 05-2026highest value
07-2026: 4.2%● 0.0% vs 06-2026highest value
08-2026: 4.2%● 0.0% vs 07-2026highest value
09-2026: 4.2%● 0.0% vs 08-2026highest value
10-2026: 4.2%● 0.0% vs 09-2026highest value
- Loss of €338,447, the second in a row (FY 2025) raises the probability
- Liquidity: current ratio 1.16, cash €601, halved raises the probability
- 1 change of registered office in 24 months raises the probability
- Sector Specialised construction activities (NACE 43) raises the probability
Credit up to €11,000 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.16 against 1.51 in 2024; short-term debt: 72.9% and cash: 0.1% of total assets), and 73.7% of the assets are financed with debt.
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 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% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 43, micro). Better than this share of them on solvency 28%, liquidity 6%, profitability 4%, growth against the median 8%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
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Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€338,447
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
41 d early
2022
3 d early
2021
1 d early
2020
17 d late
2019
10 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 5 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 29 April (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 close03-10-2026 today30-04-2027 deadline
- MiscellaneousName change · Statutes amendment…
- Annual accounts filedfiscal year 2025 · abbreviated…
- Weakest financial yearnet -€338,447
Key points
- Caution: Result fell in 2025from -€168,519 to -€338,447 ▼ 101% View
- Caution: Among the weakest 5% on net resultsector median €27,666 · 9,035 companies -€338,447 View
- Controlled by JUSTASTONE 100% View
- Caution: 2 loss-making years in a rowloss fiscal year 2025 -€338,447 View
- Positive: Always filed on timeaccounts within the deadline every year 5 years View
- Active since 1973founded 23-05-1973 53 years View
By topic
Board & ownership
- Parent
- JUSTASTONE · 100%
Timeline
- Events
- 13
- Since
- 2017
- Next accounts
- by 30-04-2027
- 27-07-2026Miscellaneous
- 30-04-2026Annual accounts filed
- 30-09-2025Weakest financial year
Company details
- Sites
- 1
- Legal form
- Public limited company
- Activity
- Floor and wall tilingNACE 43331
- Founded
- 23-05-1973
- Year ends
- 30-09
- Peppol
- Reachable for e-invoices
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