TCE CONSTRUCT
ActiveThe file of TCE CONSTRUCT contains 5 judicial reorganisation notices, as published in the Belgian State Gazette.
Summary
The computed 12-month bankruptcy probability is ≥ 25% (high). The 2025 annual accounts show negative equity (-€243,715) and a net result of €86,482. Equity is shrinking by ~16.4% per year across the filed fiscal years. Its solvency ranks better than 5% of 839 sector peers (fiscal year 2025).
Checked score
Score 2025
Axes · tick = 2024
Profitability89▲+53
Solvency0=
Growth58=
Track record54
Bankruptcy probability, 12 months
≥ 25%
High
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.6 against 0.55 in 2024; short-term debt: 106.8% and cash: 5.4% of total assets), and equity is negative.
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Signals
Eight 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 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% 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 2025Solvency, return and age of the figures
Solvency
-46.8%
Return on assets
16.6%
Age of the figures
15 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 839 sector peers (2025).
NBB · sector comparisonPosition among 839 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 13-03-2026, 41 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
41 d late
2024
4 d late
2023
72 d late
2022
24 d late
← 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 35 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close26-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€86,482
2024 · -€20,682
Working capital
-€221,517▲ 14.7%
2024 · -€259,744
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2022202320242025
Operating result-€29,669--€238,814▼ 705%€8,105€98,985▲ 1,121%
Net result-€36,014--€276,501▼ 668%-€20,682▲ 92.5%€86,482
Equity-€33,014--€309,515▼ 838%-€330,197▼ 6.7%-€243,715▲ 26.2%
Total assets€706,647-€471,760▼ 33.2%€508,081▲ 7.7%€521,268▲ 2.6%
Debt€739,661-€781,275▲ 5.6%€838,278▲ 7.3%€764,983▼ 8.7%
Working capital€22,791--€249,091-€259,744▼ 4.3%-€221,517▲ 14.7%
Staff (FTE)9.5-17.4▲ 83.2%8.6▼ 50.6%7.7▼ 10.5%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 1,121% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €521,268
Fixed assets
€185,819 ▲ 0.8%
Current assets
€335,448 ▲ 3.6%
Key figures and ratios
EBITDA
€170,968▲
2024 · €74,018
Cash flow
€158,464▲
2024 · €45,231
Solvency
-46.8%▲
2024 · -65.0%
Current ratio
0.60▲
2024 · 0.55
Debt to equity
-3.14▼
2024 · -2.54
ROA
16.6%▲
2024 · -4.1%
Interest coverage
11.72▲
2024 · 2.70
Debt ≤ 1 year
€556,966▼
2024 · €583,392
Debt > 1 year
€208,017▼
2024 · €254,887
Income taxes
-€2,080▼
2024 · €1,356
Staff costs
€203,681▼
2024 · €243,667
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €450,187 | €430,327 | €243,667 | €203,681 | ▼ 16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,337 | €64,097 | €65,914 | €71,982 | ▲ 9.2% |
| Other operating charges640/8 | €2,273 | €2,460 | €515 | €8,703 | ▲ 1,590% |
| Gross operating margin9900 | €437,129 | €258,070 | €318,200 | €383,352 | ▲ 20.5% |
| Operating profit (loss)9901 | -€29,669 | -€238,814 | €8,105 | €98,985 | ▲ 1,121% |
| Financial income75/76B | €1,223 | - | €6 | €9 | ▲ 55.8% |
| Recurring financial income75 | €1,223 | - | €6 | €9 | ▲ 55.8% |
| Financial charges65/66B | €6,092 | €34,729 | €27,437 | €14,593 | ▼ 46.8% |
| Recurring financial charges65 | €6,092 | €34,729 | €27,437 | €14,593 | ▼ 46.8% |
| Profit (loss) for the period before taxes9903 | -€34,537 | -€273,543 | -€19,326 | €84,401 | ▲ 537% |
| Income taxes67/77 | €1,477 | €2,957 | €1,356 | -€2,080 | ▼ 253% |
| Profit (loss) for the period9904 | -€36,014 | -€276,501 | -€20,682 | €86,482 | ▲ 518% |
| Profit (loss) for the period to be appropriated9905 | -€36,014 | -€276,501 | -€20,682 | €86,482 | ▲ 518% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €706,647 | €471,760 | €508,081 | €521,268 | ▲ 2.6% |
| Fixed assets21/28 | €302,999 | €247,347 | €184,433 | €185,819 | ▲ 0.8% |
| Tangible fixed assets22/27 | €291,430 | €234,633 | €171,719 | €173,105 | ▲ 0.8% |
| Plant, machinery and equipment23 | - | - | - | €56,096 | - |
| Furniture and vehicles24 | €43,228 | €38,259 | €27,173 | €24,291 | ▼ 10.6% |
| Leasing and similar rights25 | €248,203 | €196,374 | €144,546 | €92,718 | ▼ 35.9% |
| Financial fixed assets28 | €11,569 | €12,714 | €12,714 | €12,714 | = |
| Current assets29/58 | €403,648 | €224,413 | €323,648 | €335,448 | ▲ 3.6% |
| Amounts receivable within one year40/41 | €96,164 | €114,178 | €304,144 | €307,273 | ▲ 1.0% |
| Trade receivables40 | €64,859 | €102,647 | €293,421 | €299,785 | ▲ 2.2% |
| Other amounts receivable41 | €31,306 | €11,531 | €10,723 | €7,489 | ▼ 30.2% |
| Cash at bank and in hand54/58 | €11,062 | €13,985 | €18,109 | €27,909 | ▲ 54.1% |
| Deferred charges and accrued income490/1 | €296,421 | €96,250 | €1,395 | €266 | ▼ 80.9% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €706,647 | €471,760 | €508,081 | €521,268 | ▲ 2.6% |
| Equity10/15 | -€33,014 | -€309,515 | -€330,197 | -€243,715 | ▲ 26.2% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Profit (loss) carried forward14 | -€36,014 | -€312,515 | -€333,197 | -€246,715 | ▲ 26.0% |
| Amounts payable17/49 | €739,661 | €781,275 | €838,278 | €764,983 | ▼ 8.7% |
| Amounts payable after more than one year17 | €358,656 | €307,689 | €254,887 | €208,017 | ▼ 18.4% |
| Financial debts170/4 | €358,656 | €307,689 | €254,887 | €208,017 | ▼ 18.4% |
| Amounts payable within one year42/48 | €380,857 | €473,504 | €583,392 | €556,966 | ▼ 4.5% |
| Current portion of amounts payable after more than one year42 | €52,191 | €51,080 | €60,518 | €54,588 | ▼ 9.8% |
| Trade debts44 | €156,026 | €310,261 | €297,673 | €279,474 | ▼ 6.1% |
| Suppliers440/4 | €156,026 | €310,261 | €297,673 | €279,474 | ▼ 6.1% |
| Taxes, remuneration and social security45 | €171,478 | €110,201 | €224,194 | €222,014 | ▼ 1.0% |
| Taxes450/3 | €44,019 | €63,144 | €87,862 | €107,154 | ▲ 22.0% |
| Remuneration and social security454/9 | €127,459 | €47,057 | €136,332 | €114,860 | ▼ 15.7% |
| Other amounts payable47/48 | €1,162 | €1,962 | €1,007 | €890 | ▼ 11.6% |
| Accrued charges and deferred income492/3 | €149 | €82 | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€36,014 | -€276,501 | -€20,682 | €86,482 | ▲ 518% |
| + Depreciation and write-downs630 | €14,337 | €64,097 | €65,914 | €71,982 | ▲ 9.2% |
| Operating cash flow (approximation) | -€21,677 | -€212,403 | €45,231 | €158,464 | ▲ 250% |
| Investment in fixed assets (approximation) | - | -€8,445 | -€3,000 | -€73,368 | ▼ 2,346% |
| Change in cash | - | €2,923 | €4,124 | €9,800 | ▲ 138% |
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
13-03
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 41 days late
2025
30-06
Financial
Back to profitnet €86,482
Net result €86,482 after 3 loss-making years.
26-06
Judicial reorganisation
Plan homologation
Tribunal de l’entreprise du Hainaut · event 16-06-2025
15-04
Judicial reorganisation
Extension
Tribunal de l’entreprise du Hainaut · collective agreement · event 07-04-2025
17-02
Judicial reorganisation
Extension
Tribunal de l’entreprise du Hainaut · collective agreement · event 03-02-2025
04-02
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 4 days late
2024
22-10
Judicial reorganisation
Extension
Tribunal de l’entreprise du Hainaut · collective agreement · event 14-10-2024
24-06
Judicial reorganisation
Opening
Tribunal de l’entreprise du Hainaut · collective agreement · event 17-06-2024
12-04
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 72 days late
2023
30-06
Financial
Weakest financial yearnet -€276,501
Net result drops to -€276,501, the lowest in the series; recovery starts the following year.
24-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 24 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
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, Honnelles · 1 establishment unit since 2021
Ground area
532 m²
Building footprint
175 m²
Volume, LiDAR
662 m³
2 parcels, Wallonia · tallest building 7.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
TCE CONSTRUCT
since 20212.321.349.263
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 53065A0317/16_000 | Wallonia | 338 m² | 1 · 73 m² | 7.2 m · 1 fl. |
| 53001A0356/00C000 | Wallonia | 194 m² | 1 · 102 m² | 6.3 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,039. 2,531 are within a factor 10 of this headcount. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded06-08-2021
Fiscal year end30-06
Activities, NACEBEL 2025
41001General construction of residential buildings
41002Construction of residential and non-residential buildings
41003General construction of other non-residential buildings
42212Civil engineering
43120Site preparation
Scores and ratios are computed by Checked and are not a credit decision.