TB ELECTRICS
ActiveSummary
The computed 12-month bankruptcy probability of TB ELECTRICS is 2.5% (moderate). The 2024 annual accounts show equity of €24,329 and a net result of €803. Equity is growing by ~23.8% per year across the filed fiscal years. Its solvency ranks better than 18% of 36380 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability66▼-8
Solvency41▼-4
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
2.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity short (current ratio 0.73 against 1.18 in 2023; short-term debt: 31% and cash: 0.6% of total assets), and 84.2% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
15.8%
Return on assets
0.5%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 36380 sector peers (2024).
NBB · sector comparisonPosition among 36380 sector peers
Solvency
better than 18%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-08-2025, 26 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
26 d late
2023
28 d late
2022
9 d late
2020
11 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 13 days after 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 (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Equity
€24,329▲ 3.4%
2023 · €23,526
Total assets
€153,919▲ 31.3%
2023 · €117,247
Net result
€803▼ 84.9%
2023 · €5,333
Working capital
-€12,945
2023 · €6,728
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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
Line2020202220232024
Operating result€2,898-€6,775-€8,986▲ 32.6%€2,594▼ 71.1%
Net result€944below the sector's middle half-€1,038within the sector's middle half-€5,333within the sector's middle half▲ 414%€803within the sector's middle half▼ 84.9%
Equity€5,944below the sector's middle half-€18,193below the sector's middle half-€23,526within the sector's middle half▲ 29.3%€24,329within the sector's middle half▲ 3.4%
Total assets€99,587below the sector's middle half-€102,872within the sector's middle half-€117,247within the sector's middle half▲ 14.0%€153,919within the sector's middle half▲ 31.3%
Debt€93,643-€84,679-€93,721▲ 10.7%€129,589▲ 38.3%
Working capital-€5,109-€2,178-€6,728▲ 209%-€12,945
Solvency6.0%below the sector's middle half-17.7%below the sector's middle half-20.1%below the sector's middle half▲ 2.4pp15.8%below the sector's middle half▼ 4.3pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 71% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €153,919
Fixed assets
€119,126 ▲ 63.9%
Current assets
€34,793 ▼ 21.9%
Equity and liabilities €153,919
Equity
€24,329 ▲ 3.4%
Debt
€129,589 ▲ 38.3%
Debt's share of the balance-sheet total rises from 79.9% to 84.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€17,322▲
2023 · €14,367
Cash flow
€15,531▲
2023 · €10,714
Current ratio
0.73▼
2023 · 1.18
Quick ratio
0.44▼
2023 · 0.99
Debt to equity
5.33▲
2023 · 3.98
ROE
3.3%▼
2023 · 22.7%
ROA
0.5%▼
2023 · 4.5%
Interest coverage
5.62▼
2023 · 10.02
Debt ≤ 1 year
€47,738▲
2023 · €37,815
Debt > 1 year
€81,852▲
2023 · €55,906
Income taxes
€595▼
2023 · €2,220
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,270 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
2.1%
went bankrupt
2.5%
stopped otherwise
95%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,270 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €1,658 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,113 | €5,113 | €5,381 | €14,728 | ▲ 174% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €0 | - | - |
| Other operating charges640/8 | - | €917 | €2,023 | €1,934 | ▼ 4.4% |
| Gross operating margin9900 | €6,146 | €14,463 | €16,390 | €19,256 | ▲ 17.5% |
| Operating profit (loss)9901 | €2,898 | €6,775 | €8,986 | €2,594 | ▼ 71.1% |
| Financial income75/76B | - | - | €1 | €1,888 | ▲ 183,161% |
| Recurring financial income75 | €96 | - | €1 | €1,888 | ▲ 183,161% |
| Financial charges65/66B | - | €4,727 | €1,434 | €3,083 | ▲ 115% |
| Recurring financial charges65 | €1,656 | €4,727 | €1,434 | €3,083 | ▲ 115% |
| Profit (loss) for the period before taxes9903 | €1,338 | €2,047 | €7,553 | €1,398 | ▼ 81.5% |
| Income taxes67/77 | €394 | €1,009 | €2,220 | €595 | ▼ 73.2% |
| Profit (loss) for the period9904 | €944 | €1,038 | €5,333 | €803 | ▼ 84.9% |
| Profit (loss) for the period to be appropriated9905 | €944 | €1,038 | €5,333 | €803 | ▼ 84.9% |
| Line | 2020 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €99,587 | €102,872 | €117,247 | €153,919 | ▲ 31.3% |
| Fixed assets21/28 | €81,199 | €76,746 | €72,704 | €119,126 | ▲ 63.9% |
| Tangible fixed assets22/27 | €81,199 | €76,746 | €72,704 | €119,126 | ▲ 63.9% |
| Land and buildings22 | - | €70,368 | €67,232 | €67,149 | ▼ 0.1% |
| Plant, machinery and equipment23 | - | €4,803 | €4,353 | €2,486 | ▼ 42.9% |
| Furniture and vehicles24 | - | €1,575 | €1,119 | €10,101 | ▲ 802% |
| Leasing and similar rights25 | - | - | - | €39,390 | - |
| Current assets29/58 | €18,389 | €26,126 | €44,543 | €34,793 | ▼ 21.9% |
| Stocks and contracts in progress3 | - | - | €7,219 | €13,582 | ▲ 88.1% |
| Stocks30/36 | - | - | €7,219 | €13,582 | ▲ 88.1% |
| Amounts receivable within one year40/41 | €12,231 | €23,249 | €29,641 | €20,317 | ▼ 31.5% |
| Trade receivables40 | - | €17,874 | €23,261 | €14,852 | ▼ 36.2% |
| Other amounts receivable41 | - | €5,376 | €6,380 | €5,466 | ▼ 14.3% |
| Cash at bank and in hand54/58 | €5,541 | €2,877 | €7,248 | €894 | ▼ 87.7% |
| Deferred charges and accrued income490/1 | - | - | €436 | €0 | ▼ 100% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €99,587 | €102,872 | €117,247 | €153,919 | ▲ 31.3% |
| Equity10/15 | €5,944 | €18,193 | €23,526 | €24,329 | ▲ 3.4% |
| Contributions10/11 | - | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €944 | €13,193 | €18,526 | €19,329 | ▲ 4.3% |
| Distributable reserves133 | - | €13,193 | €18,526 | €19,329 | ▲ 4.3% |
| Amounts payable17/49 | €93,643 | €84,679 | €93,721 | €129,589 | ▲ 38.3% |
| Amounts payable after more than one year17 | €70,145 | €60,730 | €55,906 | €81,852 | ▲ 46.4% |
| Financial debts170/4 | - | €60,730 | €55,906 | €81,852 | ▲ 46.4% |
| Amounts payable within one year42/48 | €23,498 | €23,949 | €37,815 | €47,738 | ▲ 26.2% |
| Current portion of amounts payable after more than one year42 | - | €4,747 | €4,825 | €13,757 | ▲ 185% |
| Trade debts44 | €2,438 | €5,951 | €10,183 | €6,374 | ▼ 37.4% |
| Suppliers440/4 | - | €5,951 | €10,183 | €6,374 | ▼ 37.4% |
| Taxes, remuneration and social security45 | - | €2,578 | €2,220 | €1,304 | ▼ 41.3% |
| Taxes450/3 | - | €2,578 | €2,220 | €1,304 | ▼ 41.3% |
| Other amounts payable47/48 | - | €10,673 | €20,587 | €26,303 | ▲ 27.8% |
| Line | 2020 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €944 | €1,038 | €5,333 | €803 | ▼ 84.9% |
| + Depreciation and write-downs630 | €2,113 | €5,113 | €5,381 | €14,728 | ▲ 174% |
| Operating cash flow (approximation) | €3,057 | €6,152 | €10,714 | €15,531 | ▲ 45.0% |
| Investment in fixed assets (approximation) | - | - | -€1,339 | -€61,150 | ▼ 4,467% |
| Change in cash | - | - | €4,370 | -€6,354 | ▼ 245% |
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
2025
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
31-12
Financial
Weakest financial yearnet €803 ▼84.9%
Net result drops to €803, the lowest in the series.
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
31-12
Financial
Highest result since 2020net €5,333 ▲414%
Operating result €8,986, net result €5,333, both a record.
09-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 9 days late
2021
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Torhout · 1 establishment unit since 2020
Ground area
355 m²
Building footprint
96 m²
Volume, LiDAR
582 m³
Parcel 31524D1755/00S002, Flanders · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
TB ELECTRICS
since 20202.299.885.737
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31524D1755/00S002 | Flanders | 355 m² | 1 · 96 m² | 7.9 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.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 2 entries · 773 EUR awarded · 773 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 296 EUR | 296 EUR |
| 2022 | 1 | 477 EUR | 477 EUR |
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ENDUCTIS
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NIHAT & IHSAN ELECTRO STRATEGY
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Of 22,831 companies in sector 43211 we hold annual accounts for 10,329. 7,623 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
Founded03-03-2020
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0744669097
Also
9925:BE0744669097
Registered
20-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.