TBSA
ActiveSummary
TBSA has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€4,348) and a net result of €3,110. Equity is growing by ~39.7% per year across the filed fiscal years. Its solvency ranks better than 14% of 755 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability78▲+78
Solvency14▲+3
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.42 against 0.38 in 2023; short-term debt: 61.4% and cash: 4.6% of total assets), and equity is negative.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
-10.6%
Return on assets
7.6%
Age of the figures
21 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 755 sector peers (2024).
NBB · sector comparisonPosition among 755 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-06-2026, 36 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
36 d early
2024
15 d early
2023
2 d early
2022
48 d early
2021
3 d early
2020
22 d early
2019
87 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 30 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 48% of the sector filed late.
Checked, nothing found (2)
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. Usually files around 16 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, abbreviated schema
Equity
-€4,348▲ 41.7%
2023 · -€7,458
Total assets
€40,865▼ 21.5%
2023 · €52,058
Net result
€3,110
2023 · -€8,476
Working capital
-€14,479▲ 26.5%
2023 · -€19,691
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 96, Personal service 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
Line20202021202220232024
Operating result€5,479▼ 42.4%€13,422▲ 145%€6,819▼ 49.2%-€7,006€4,831
Net result€4,969within the sector's middle half▼ 43.4%€11,803within the sector's middle half▲ 138%€4,499within the sector's middle half▼ 61.9%-€8,476below the sector's middle half€3,110within the sector's middle half
Equity-€27,684below the sector's middle half▲ 15.2%-€15,882below the sector's middle half▲ 42.6%-€11,382below the sector's middle half▲ 28.3%-€7,458below the sector's middle half▲ 34.5%-€4,348below the sector's middle half▲ 41.7%
Total assets€2,926below the sector's middle half▼ 48.5%€8,272below the sector's middle half▲ 183%€16,972below the sector's middle half▲ 105%€52,058below the sector's middle half▲ 207%€40,865below the sector's middle half▼ 21.5%
Debt€30,610▼ 20.2%€24,153▼ 21.1%€28,354▲ 17.4%€59,516▲ 110%€45,213▼ 24.0%
Working capital-€27,752within the sector's middle half▲ 18.8%-€17,803within the sector's middle half▲ 35.9%-€18,618within the sector's middle half▼ 4.6%-€19,691within the sector's middle half▼ 5.8%-€14,479within the sector's middle half▲ 26.5%
Solvency-192.0%below the sector's middle half-67.1%below the sector's middle half▲ 124.9pp-14.3%below the sector's middle half▲ 52.7pp-10.6%below the sector's middle half▲ 3.7pp
Current ratio0.26below the sector's middle half0.34below the sector's middle half▲ 0.080.38below the sector's middle half▲ 0.040.42below the sector's middle half▲ 0.04
Return on assets (ROA)142.7%above the sector's middle half26.5%above the sector's middle half▼ 116.2pp-16.3%below the sector's middle half▼ 42.8pp7.6%within the sector's middle half▲ 23.9pp
above
within
below
the middle half (P25 to P75) of NACE 96, Personal service activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €4,831 after a loss of €7,006 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €40,865
Fixed assets
€30,261 ▼ 24.0%
Current assets
€10,604 ▼ 13.5%
Key figures and ratios
EBITDA
€14,376▲
2023 · -€850
Cash flow
€12,655▲
2023 · -€2,320
Quick ratio
0.15▼
2023 · 0.37
Debt to equity
-10.40▼
2023 · -7.98
Interest coverage
8.49▲
2023 · -0.62
Debt ≤ 1 year
€25,083▼
2023 · €31,943
Debt > 1 year
€20,130▼
2023 · €27,573
Income taxes
€83▼
2023 · €630
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,795 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
5.3%
stopped otherwise
92%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 3,795 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 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,465 | €398 | €1,192 | €6,156 | €9,545 | ▲ 55.0% |
| Other operating charges640/8 | - | €1,460 | €1,496 | €5,525 | €1,830 | ▼ 66.9% |
| Gross operating margin9900 | €8,328 | €15,279 | €9,507 | €4,675 | €16,206 | ▲ 247% |
| Operating profit (loss)9901 | €5,479 | €13,422 | €6,819 | -€7,006 | €4,831 | ▲ 169% |
| Financial income75/76B | - | €110 | €74 | €541 | €56 | ▼ 89.6% |
| Recurring financial income75 | €7 | €110 | €74 | €541 | €56 | ▼ 89.6% |
| Financial charges65/66B | - | €434 | €404 | €1,381 | €1,694 | ▲ 22.6% |
| Recurring financial charges65 | €196 | €434 | €404 | €1,381 | €1,694 | ▲ 22.6% |
| Profit (loss) for the period before taxes9903 | €5,289 | €13,098 | €6,489 | -€7,846 | €3,193 | ▲ 141% |
| Income taxes67/77 | €321 | €1,295 | €1,990 | €630 | €83 | ▼ 86.8% |
| Profit (loss) for the period9904 | €4,969 | €11,803 | €4,499 | -€8,476 | €3,110 | ▲ 137% |
| Profit (loss) for the period to be appropriated9905 | €4,969 | €11,803 | €4,499 | -€8,476 | €3,110 | ▲ 137% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2,926 | €8,272 | €16,972 | €52,058 | €40,865 | ▼ 21.5% |
| Fixed assets21/28 | €68 | €1,921 | €7,236 | €39,806 | €30,261 | ▼ 24.0% |
| Tangible fixed assets22/27 | €8 | €1,861 | €7,176 | €39,746 | €30,201 | ▼ 24.0% |
| Plant, machinery and equipment23 | - | €1,285 | €2,882 | €2,736 | €1,908 | ▼ 30.3% |
| Furniture and vehicles24 | - | €576 | €4,294 | €3,078 | €1,988 | ▼ 35.4% |
| Leasing and similar rights25 | - | - | - | €33,932 | €26,306 | ▼ 22.5% |
| Financial fixed assets28 | €60 | €60 | €60 | €60 | €60 | = |
| Current assets29/58 | €2,858 | €6,351 | €9,737 | €12,252 | €10,604 | ▼ 13.5% |
| Stocks and contracts in progress3 | €2,231 | €2,086 | €2,756 | €378 | €6,738 | ▲ 1,682% |
| Stocks30/36 | - | €2,086 | €2,756 | €378 | €6,738 | ▲ 1,682% |
| Amounts receivable within one year40/41 | €15 | €521 | €896 | €5,116 | €640 | ▼ 87.5% |
| Trade receivables40 | - | €521 | €896 | €755 | €597 | ▼ 20.9% |
| Other amounts receivable41 | - | €0 | - | €4,361 | €43 | ▼ 99.0% |
| Cash at bank and in hand54/58 | €5 | €3,243 | €4,455 | €5,207 | €1,881 | ▼ 63.9% |
| Deferred charges and accrued income490/1 | - | €501 | €1,629 | €1,551 | €1,344 | ▼ 13.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2,926 | €8,272 | €16,972 | €52,058 | €40,865 | ▼ 21.5% |
| Equity10/15 | -€27,684 | -€15,882 | -€11,382 | -€7,458 | -€4,348 | ▲ 41.7% |
| Contributions10/11 | - | €6,200 | €6,200 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€33,884 | -€22,082 | -€17,582 | -€26,058 | -€22,948 | ▲ 11.9% |
| Amounts payable17/49 | €30,610 | €24,153 | €28,354 | €59,516 | €45,213 | ▼ 24.0% |
| Amounts payable after more than one year17 | - | - | - | €27,573 | €20,130 | ▼ 27.0% |
| Financial debts170/4 | - | - | - | €27,573 | €20,130 | ▼ 27.0% |
| Amounts payable within one year42/48 | €30,610 | €24,153 | €28,354 | €31,943 | €25,083 | ▼ 21.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €7,117 | €7,443 | ▲ 4.6% |
| Financial debts43 | - | €0 | - | - | - | - |
| Credit institutions430/8 | - | €0 | - | - | - | - |
| Trade debts44 | €2,858 | €418 | €4,123 | €4,959 | €3,258 | ▼ 34.3% |
| Suppliers440/4 | - | €418 | €4,123 | €4,959 | €3,258 | ▼ 34.3% |
| Taxes, remuneration and social security45 | - | €3,133 | €3,879 | €4,029 | €975 | ▼ 75.8% |
| Taxes450/3 | - | €3,133 | €3,879 | €4,029 | €975 | ▼ 75.8% |
| Other amounts payable47/48 | - | €20,603 | €20,353 | €15,838 | €13,407 | ▼ 15.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,969 | €11,803 | €4,499 | -€8,476 | €3,110 | ▲ 137% |
| + Depreciation and write-downs630 | €1,465 | €398 | €1,192 | €6,156 | €9,545 | ▲ 55.0% |
| Operating cash flow (approximation) | €6,434 | €12,200 | €5,691 | -€2,320 | €12,655 | ▲ 646% |
| Investment in fixed assets (approximation) | - | -€2,251 | -€6,507 | -€38,727 | €0 | ▲ 100% |
| Change in cash | - | €3,238 | €1,212 | €752 | -€3,326 | ▼ 542% |
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
Next filing, fiscal year 2026, expected by
2026
25-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €3,110
Net result €3,110 after one loss-making year.
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet -€8,476
Net result drops to -€8,476, the lowest in the series; recovery starts the following year.
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €11,803 ▲138%
Operating result €13,422, net result €11,803, both a record.
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
05-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 29 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 30 days late
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, Aalst · 1 establishment unit since 2002
Ground area
243 m²
Building footprint
113 m²
Volume, LiDAR
896 m³
Parcel 41002A2076/00D000, Flanders · tallest building 15.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
TBSA
since 20022.114.530.120
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41002A2076/00D000 | Flanders | 243 m² | 1 · 113 m² | 15.2 m · 3 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.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 24,867 companies in sector 96220 we hold annual accounts for 1,445. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded14-08-2002
Fiscal year end31-12
Activities, NACEBEL 2025
96220Beauty care and other beauty treatments
47279Other retail sale of food
47750Retail sale of cosmetics and toilet articles
E-invoicing
Reachable via Peppol
Peppol ID
0208:0478191192
Also
9925:BE0478191192
Registered
10-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.