TBS CONVERSIONS
ActiveThe computed 12-month bankruptcy probability of TBS CONVERSIONS is 2.9% (moderate). The 2025 annual accounts show negative equity (€-3.14M) and a net result of €-507k. Equity is shrinking by ~33.3% per year across the filed fiscal years. Its solvency ranks better than 5% of 18120 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
18
/ 100
Critical
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
2.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.65 against 0.6 in 2024; short-term debt: 142.8% and cash: 2.3% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Seven 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 · 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 2025Solvency, return and age of the figures
Solvency
-557.5%
Return on assets
-89.9%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
202122232425
2020 to 2025 · latest year €-3.14M
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-08-2026, 17 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 · 6 filingsDeviation from the deadline
2025
17 d late
2024
69 d late
2023
29 d late
2022
30 d late
2021
114 d late
2020
417 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-3.14M▼ 19.2%
2024 · €-2.64M
2020: €5k
2021: €-727k
2022: €-1.44M
2023: €-2.38M
2024: €-2.64M
2020 → 2025
Total assets
€564k▲ 15.6%
2024 · €488k
2020: €336k
2021: €478k
2022: €637k
2023: €510k
2024: €488k
2020 → 2025
Net result
€-507k▼ 96.1%
2024 · €-259k
2020: €219
2021: €-733k
2022: €-713k
2023: €-938k
2024: €-259k
2020 → 2025
Working capital
€-281k▲ 2.9%
2024 · €-289k
2020: €-14k
2021: €-265k
2022: €110k
2023: €-363k
2024: €-289k
2020 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-727k-€-1.44M▼ 98.0%€-2.38M▼ 65.2%€-2.64M▼ 10.9%€-3.14M▼ 19.2%
Operating result€-723k-€-655k▲ 9.4%€-952k▼ 45.3%€-256k▲ 73.1%€-503k▼ 96.8%
Net result€-733k-€-713k▲ 2.7%€-938k▼ 31.7%€-259k▲ 72.4%€-507k▼ 96.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €503k in 2025 against €256k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €564k
Fixed assets
€40k▼ 19.1%
Current assets
€524k▲ 19.5%
Key figures and ratios
EBITDA
€-488k▼
2024 · €-238k
Cash flow
€-491k▼
2024 · €-241k
Solvency
-557.5%▼
2024 · -540.5%
Current ratio
0.65▲
2024 · 0.60
Quick ratio
0.65▲
2024 · 0.60
Debt / equity
-1.18▲
2024 · -1.19
ROA
-89.9%▼
2024 · -53.0%
Interest coverage
-151.37▼
2024 · -65.18
Debt
€3.71M▲
2024 · €3.12M
Debt ≤ 1 year
€805k▲
2024 · €728k
Debt > 1 year
€2.77M▲
2024 · €2.40M
Income taxes
€457▲
2024 · €0
Staff costs
€351k▼
2024 · €420k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€488k€564k▲
Fixed assets21/28€49k€40k▼
Tangible fixed assets22/27€47k€37k▼
Plant, machinery and equipment23€19k€10k▼
Furniture and vehicles24€7k€10k▲
Other tangible fixed assets26€21k€18k▼
Financial fixed assets28€2k€2k=
Current assets29/58€439k€524k▲
Amounts receivable within one year40/41€399k€433k▲
Trade receivables40€133k€192k▲
Other amounts receivable41€266k€240k▼
Cash at bank and in hand54/58€21k€13k▼
Deferred charges and accrued income490/1€19k€78k▲
Equity and liabilities
Total equity and liabilities10/49€488k€564k▲
Equity10/15€-2.64M€-3.14M▼
Contributions10/11€5k€5k=
Reserves13€219€219=
Distributable reserves133€219€219=
Profit (loss) carried forward14€-2.64M€-3.15M▼
Amounts payable17/49€3.12M€3.71M▲
Amounts payable after more than one year17€2.40M€2.77M▲
Financial debts170/4€2.40M€2.77M▲
Amounts payable within one year42/48€728k€805k▲
Current portion of amounts payable after more than one year42€352€0▼
Financial debts43€2k€213▼
Credit institutions430/8€2k€213▼
Trade debts44€687k€745k▲
Suppliers440/4€687k€745k▲
Taxes, remuneration and social security45€39k€60k▲
Taxes450/3€16k€9k▼
Remuneration and social security454/9€23k€51k▲
Accrued charges and deferred income492/3€0€132k▲
Income statement
Code20242025
Non-recurring operating income76A€25k€0▼
Remuneration, social security and pensions62€420k€351k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€18k€16k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Other operating charges640/8€10k€26k▲
Gross operating margin9900€192k€-110k▼
Operating profit (loss)9901€-256k€-503k▼
Financial income75/76B€924€146▼
Recurring financial income75€924€146▼
Financial charges65/66B€4k€3k▼
Recurring financial charges65€4k€3k▼
Profit (loss) for the period before taxes9903€-259k€-507k▼
Income taxes67/77€0€457▲
Profit (loss) for the period9904€-259k€-507k▼
Profit (loss) for the period to be appropriated9905€-259k€-507k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-2.64M€-3.15M▼
Profit (loss) brought forward from the previous period14P€-2.38M€-2.64M▼
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
17-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 17 days late
2025
08-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 69 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-12
Financial
Weakest financial yearnet €-938k
Net result drops to €-938k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-12
Financial
Liquidity doublescurrent ratio 1.24
Current ratio from 0.62 to 1.24; short-term debt falls from €701k to €449k.
22-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 114 days late
21-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 417 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Pelt · 1 establishment unit since 2019
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Emiel Vlieberghlaan 63900 PeltGround area
7,823 m²
Building footprint
1,549 m²
Volume, LiDAR
7,553 m³
Parcel 72502E0102/00H143, Flanders · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
TBS CONVERSIONS
since 20192.297.593.963
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72502E0102/00H143 | Flanders | 7,823 m² | 1 · 1,549 m² | 7.0 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,127 companies in sector 47830 we hold annual accounts for 468. 115 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded18-12-2019
Fiscal year end31-12
Activities, NACEBEL
29201Manufacture of motor vehicles, trailers and semi-trailers
45402
47830Retail sale of motorcycles and motorcycle parts and accessories
16230Manufacture of other builders' carpentry and joinery
95311General maintenance and repair of cars and light vans (up to 3.5 tonnes)
95312Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:guy@tbsconversions.com