Equity
TCS has made a profit without a break since 2018.
The dashed line is the sector median: 0.1% across 25,932 companies (NACE 62, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, micro). It does better than 85% of them on solvency, 45% on liquidity, 41% on profitability and 59% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 34,693 companies had the same profile as TCS has now. Each dot stands for 87 companies, two years later.
That fits the bankruptcy probability of TCS itself: 0.2% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 34,693 companies, not a prediction for TCS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is ample, with a current ratio of 11.08 (4.64 in 2024), above the usual 1.5. Short-term debt is 6.8% and cash 9.5% of total assets. 13.7% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 94 days after the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| TCS Kapellen | €356,389 | €40,317 | 86.3% | - |
| XADI Olen | €320,152 | €42,522 | 85.0% | - |
| ADVEO Mechelen | €376,468 | €45,626 | 97.1% | - |
| TECHNOLOGY INTEGRATION Evere | €371,980 | €41,740 | 94.4% | - |
| ORKA Supply Chain Consulting Middelkerke | €379,005 | €41,904 | 24.7% | - |
| WATERLOO HILLS Waterloo | €372,905 | €44,195 | 38.2% | - |
| Tailor Made Software Ghent | €347,626 | €42,073 | 95.7% | - |
These companies have the same main activity as TCS: computer consultancy and computer facilities management (NACE 62200). They are comparable in size and age: total assets between €320,000 and €379,000, founded between 2007 and 2010.
TCS files the micro format. That format states no turnover. The gross margin fell from €102,693 in 2009 to €40,317 in 2025.
PARAGON CONSULTANTS holds 99% of the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €130,000. Estimated: probably between €110,000 and €190,000.
Higher than 83% of 21,206 companies in 2025.
Higher than 90% of 20,569 companies in 2025.
Higher than 35% of 20,744 companies in 2025.
Net result: middle half · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||
20/58 |
356,389 | 355,713 | 324,569 | 289,599 | 415,458 | 425,803 | 436,734 | 406,060 | 443,205 | 476,274 | 464,799 | 327,433 | 316,998 | 297,420 | 241,687 | 164,924 | 109,745 | |
21/28 |
89,271 | 92,907 | 92,461 | 94,569 | 89,500 | 85,000 | 85,000 | 85,000 | 90,175 | 92,380 | 95,306 | 21,335 | 27,825 | 37,339 | 43,523 | 5,384 | 310 | |
22/27 |
89,271 | 92,907 | 87,961 | 90,069 | 85,000 | 85,000 | 85,000 | 85,000 | 85,675 | 87,880 | 90,806 | 16,835 | 27,825 | 34,339 | 40,523 | 2,384 | 310 | |
22 |
85,753 | 85,887 | 86,022 | 86,156 | 85,000 | 85,000 | 85,000 | 85,000 | 85,000 | 85,000 | 85,000 | - | - | - | - | - | - | |
23 |
- | - | - | - | - | - | - | - | 675 | 2,880 | 5,806 | 7,552 | 5,148 | - | 496 | 1,115 | 310 | |
24 |
3,519 | 7,020 | 1,939 | 3,913 | - | - | - | - | - | - | - | 9,283 | 22,677 | 34,339 | 40,027 | 1,269 | - | |
28 |
- | 0 | 4,500 | 4,500 | 4,500 | - | - | - | 4,500 | 4,500 | 4,500 | 4,500 | - | 3,000 | 3,000 | 3,000 | - | |
29/58 |
267,117 | 262,806 | 232,108 | 195,030 | 325,958 | 340,803 | 351,734 | 321,060 | 353,030 | 383,894 | 369,493 | 306,098 | 289,173 | 260,081 | 198,165 | 159,540 | 109,436 | |
29 |
- | - | - | - | 248,851 | 263,689 | 278,089 | 292,064 | 305,626 | 188,788 | 201,562 | 213,958 | - | - | - | - | - | |
291 |
- | - | - | - | 248,851 | 263,689 | 278,089 | 292,064 | 305,626 | 188,788 | 201,562 | 213,958 | - | - | - | - | - | |
40/41 |
211,133 | 183,508 | 149,103 | 143,127 | 72,235 | 68,885 | 68,048 | 21,906 | 46,270 | 175,670 | 153,505 | 79,996 | 261,041 | 236,425 | 171,974 | 145,486 | 90,791 | |
40 |
30,370 | 6,058 | 14,414 | 29,254 | 21,500 | 21,614 | 24,562 | 5,114 | 23,036 | 41,639 | 46,725 | 21,405 | 10,295 | 42,303 | 26,407 | 11,270 | 21,830 | |
41 |
180,762 | 177,450 | 134,688 | 113,874 | 50,735 | 47,271 | 43,486 | 16,792 | 23,234 | 134,031 | 106,780 | 58,591 | 250,746 | 194,122 | 145,567 | 134,216 | 68,961 | |
50/53 |
8,000 | 28,184 | 40,584 | 26,500 | 4,500 | 7,200 | 4,500 | 4,500 | 67 | - | - | - | - | - | - | - | - | |
54/58 |
33,789 | 37,882 | 31,128 | 20,795 | 372 | 1,029 | 1,097 | 2,590 | 1,067 | 19,436 | 14,426 | 12,144 | 28,131 | 22,792 | 12,043 | 14,054 | 15,101 | |
490/1 |
14,195 | 13,231 | 11,294 | 4,608 | - | - | - | - | - | - | - | - | - | 864 | 14,147 | - | 3,544 | |
| Balance sheet: equity and liabilities | ||||||||||||||||||
10/49 |
356,389 | 355,713 | 324,569 | 289,599 | 415,458 | 425,803 | 436,734 | 406,060 | 443,205 | 476,274 | 464,799 | 327,433 | 316,998 | 297,420 | 241,687 | 164,924 | 109,745 | |
10/15 |
307,514 | 272,272 | 221,738 | 195,495 | 351,323 | 347,204 | 335,998 | 321,844 | 318,602 | 340,021 | 299,373 | 270,904 | 249,798 | 189,500 | 142,805 | 109,762 | 70,111 | |
10/11 |
12,400 | 12,400 | 12,400 | 12,400 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
64,720 | 44,720 | 24,720 | 3,720 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
130/1 |
3,720 | 3,720 | 3,720 | 3,720 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | 3,720 | 3,720 | 3,720 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | |
1319 |
3,720 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
133 |
61,000 | 41,000 | 21,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
14 |
230,394 | 215,152 | 184,618 | 179,375 | 343,263 | 339,144 | 327,938 | 313,784 | 310,542 | 331,961 | 291,313 | 262,844 | 241,738 | 181,440 | 134,745 | 101,702 | 62,051 | |
16 |
22,825 | 22,825 | 22,825 | 28,000 | 19,000 | 19,000 | 19,000 | 10,000 | 10,000 | 10,000 | - | - | - | - | - | - | - | |
160/5 |
22,825 | 22,825 | 22,825 | 28,000 | 19,000 | 19,000 | 19,000 | 10,000 | 10,000 | 10,000 | - | - | - | - | - | - | - | |
160 |
- | 10,000 | 10,000 | 10,000 | 10,000 | - | - | - | - | - | - | - | - | - | - | - | - | |
162 |
10,000 | - | - | - | - | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | - | - | - | - | - | - | - | |
163 |
- | - | - | - | - | 9,000 | 9,000 | - | - | - | - | - | - | - | - | - | - | |
164/5 |
12,825 | 12,825 | 12,825 | 18,000 | 9,000 | - | - | - | - | - | - | - | - | - | - | - | - | |
17/49 |
26,050 | 60,616 | 80,006 | 66,104 | 45,135 | 59,599 | 81,736 | 74,216 | 114,603 | 126,253 | 165,426 | 56,529 | 67,199 | 107,919 | 98,883 | 55,162 | 39,634 | |
17 |
350 | 2,398 | 6,945 | 16,053 | 24,991 | 33,763 | 42,371 | 50,819 | 59,109 | 67,245 | 75,229 | 4,554 | 15,115 | 25,173 | 34,754 | - | - | |
170/4 |
350 | 2,398 | 6,945 | 16,053 | 24,991 | 33,763 | 42,371 | 50,819 | 59,109 | 67,245 | 75,229 | 4,554 | 15,115 | 25,173 | 34,754 | - | - | |
42/48 |
24,101 | 56,620 | 71,463 | 48,453 | 20,144 | 21,989 | 39,365 | 23,397 | 55,494 | 59,008 | 73,697 | 51,975 | 40,138 | 81,651 | 64,129 | 55,162 | 39,072 | |
42 |
4,510 | 8,704 | 9,108 | 8,938 | 8,772 | 8,608 | 8,448 | 8,290 | 8,136 | 7,984 | 12,389 | 10,560 | 10,058 | 9,580 | 9,125 | - | - | |
43 |
17 | - | - | - | - | - | - | - | - | 29,665 | - | - | - | - | - | - | - | |
430/8 |
17 | - | - | - | - | - | - | - | - | 29,665 | - | - | - | - | - | - | - | |
44 |
3,426 | 5,509 | 2,384 | - | 950 | 1,089 | 18,437 | 4,341 | 5,139 | 14,457 | 32,080 | 5,287 | 4,165 | 34,672 | - | 2,411 | 959 | |
440/4 |
3,426 | 5,509 | 2,384 | - | 950 | 1,089 | 18,437 | 4,341 | 5,139 | 14,457 | 32,080 | 5,287 | 4,165 | 34,672 | - | 2,411 | 959 | |
45 |
16,149 | 42,406 | 59,970 | 39,514 | 6,690 | 12,292 | 8,569 | 1,886 | 21,482 | 4,902 | 29,228 | 36,128 | 25,914 | 37,399 | 55,004 | 52,751 | 38,113 | |
450/3 |
9,438 | 37,701 | 57,055 | 39,514 | 6,690 | 12,292 | 8,569 | 1,886 | 21,482 | 4,902 | 29,228 | 36,128 | 25,914 | 37,399 | 55,004 | 52,751 | 36,523 | |
454/9 |
6,711 | 4,705 | 2,916 | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,590 | |
47/48 |
- | - | - | - | 3,732 | - | 3,911 | 8,880 | 20,737 | 2,000 | - | - | - | - | - | - | - | |
492/3 |
1,598 | 1,598 | 1,598 | 1,598 | - | 3,847 | - | - | - | - | 16,500 | - | 11,947 | 1,095 | - | - | 562 | |
| Income statement | ||||||||||||||||||
76A |
- | 0 | - | - | - | - | - | - | - | - | 18,403 | - | - | - | - | - | - | |
9900 |
40,317 | 44,110 | 30,646 | 41,134 | -337 | 13,236 | 23,382 | 7 | 41,970 | 59,713 | 53,025 | 50,014 | 101,611 | 84,611 | 63,670 | 51,545 | 102,693 | |
630 |
3,636 | 3,673 | 2,108 | 2,420 | - | - | - | 675 | 2,205 | 2,926 | 3,834 | 12,568 | 13,403 | 12,792 | 11,594 | 1,316 | 1,168 | |
631/4 |
- | - | -5,175 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
635/8 |
- | 0 | - | - | - | - | 9,000 | - | - | 10,000 | - | - | - | - | - | - | - | |
640/8 |
772 | 1,646 | 2,007 | 3,117 | 556 | 1,182 | 1,108 | 1,470 | 4 | 1,800 | 12,622 | 2,098 | 2,283 | 1,886 | 3,510 | 965 | 3,341 | |
66A |
0 | - | - | - | - | - | - | - | - | - | - | 3,965 | - | - | - | - | - | |
9901 |
35,910 | 38,791 | 31,706 | 35,596 | -892 | 12,054 | 13,274 | -2,138 | 39,761 | 44,987 | 36,569 | 35,348 | 85,925 | 69,933 | 48,566 | 49,264 | 98,184 | |
75/76B |
23,176 | 8,583 | 5,820 | 0 | 7,317 | 7,502 | 8,570 | 7,684 | 5,484 | 14,915 | 6,262 | 8,228 | 28 | 11 | 10 | 7,757 | 44 | |
75 |
23,176 | 8,583 | 5,820 | 0 | 7,317 | 7,502 | 8,570 | 7,684 | 5,484 | 14,915 | 6,262 | 8,228 | 28 | 11 | 10 | 7,757 | 44 | |
65/66B |
679 | 5,826 | 849 | 761 | 724 | 915 | 1,072 | 419 | 1,949 | 1,706 | 1,434 | 1,205 | 1,593 | 2,852 | 1,625 | 31 | 43 | |
65 |
679 | 1,326 | 849 | 761 | 724 | 915 | 1,072 | 419 | 1,949 | 1,555 | 1,434 | 1,205 | 1,593 | 2,852 | 1,625 | 31 | 43 | |
66B |
- | 4,500 | - | - | - | - | - | - | - | 151 | - | - | - | - | - | - | - | |
9903 |
58,406 | 41,549 | 36,677 | 34,836 | 5,700 | 18,641 | 20,772 | 5,127 | 43,296 | 58,196 | 59,800 | 38,406 | 84,360 | 67,092 | 46,951 | 56,990 | 98,185 | |
67/77 |
23,164 | -8,985 | 10,434 | 7,462 | 1,581 | 7,435 | 6,618 | 1,885 | 44,715 | 15,548 | 14,831 | 17,300 | 24,062 | 20,397 | 13,909 | 17,339 | 34,274 | |
9904 |
35,242 | 50,534 | 26,243 | 27,374 | 4,119 | 11,206 | 14,154 | 3,242 | -1,419 | 42,648 | 44,969 | 21,106 | 60,298 | 46,696 | 33,042 | 39,651 | 63,911 | |
9905 |
35,242 | 50,534 | 26,243 | 27,374 | 4,119 | 11,206 | 14,154 | 3,242 | -1,419 | 42,648 | 44,969 | 21,106 | 60,298 | 46,696 | 33,042 | 39,651 | 63,911 | |
| Appropriation of the result | ||||||||||||||||||
9906 |
250,394 | 235,152 | 205,618 | 370,637 | 343,263 | 339,144 | 327,938 | 313,784 | 330,542 | 333,961 | 307,813 | 262,844 | 241,738 | 181,440 | 134,745 | 101,702 | 63,911 | |
14P |
215,152 | 184,618 | 179,375 | 343,263 | 339,145 | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
20,000 | 20,000 | 21,000 | 14,260 | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
691 |
- | - | - | 12,400 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
20,000 | 20,000 | 21,000 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
694/7 |
- | - | - | 177,002 | - | - | - | - | 20,000 | 2,000 | 16,500 | - | - | - | - | - | - | |
694 |
- | - | - | 177,002 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
695 |
- | - | - | - | - | - | - | - | 20,000 | 2,000 | 16,500 | - | - | - | - | - | - | |
| Document | ||||||||||||||||||
The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 27-10-2026.
2025 annual accounts filed 88 days after the deadline. Filed on 27 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00569558.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 27-10-2026 | 2026-00569558 | |
| 31-12-2024 | micro format | 13-01-2026 | 2026-00009429 | |
| 31-12-2023 | micro format | 31-10-2024 | 2024-00524969 | |
| 31-12-2022 | micro format | 01-11-2023 | 2023-00501900 | |
| 31-12-2021 | micro format | 20-06-2022 | 2022-20072610 | |
| 31-12-2020 | micro format | 15-11-2021 | 2021-77300400 | |
| 31-12-2019 | micro format | 30-12-2020 | 2020-77600222 | |
| 31-12-2018 | micro format | 21-10-2019 | 2019-70800362 | |
| 31-12-2017 | micro format | 16-11-2018 | 2018-72400174 | |
| 31-12-2016 | micro format | 17-10-2017 | 2017-67300382 | |
| 31-12-2015 | abbreviated format | 16-11-2016 | 2016-67900173 | |
| 31-12-2014 | abbreviated format | 16-02-2016 | 2016-04500213 | |
| 31-12-2013 | abbreviated format | 12-02-2015 | 2015-04100244 | |
| 31-12-2012 | abbreviated format | 23-03-2015 | 2015-06900506 | |
| 31-12-2011 | abbreviated format | 22-03-2013 | 2013-07100033 | |
| 31-12-2010 | abbreviated format | 05-12-2011 | 2011-62800452 | |
| 31-12-2009 | abbreviated format | 05-12-2011 | 2011-62800509 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 39,546 | 42,464 | 33,814 | 38,016 | - | - | - | -1,463 | 41,966 | 47,913 | 40,403 | 47,916 | 99,328 | 82,726 | 60,161 | 50,580 | 99,352 | ||
| 38,878 | 54,206 | 28,351 | 29,794 | - | - | - | 3,917 | 786 | 45,574 | 48,803 | 33,674 | 73,701 | 59,488 | 44,637 | 40,967 | 65,079 | ||
| 0 | 4,947 | 65,752 | 42,432 | - | - | - | -4,500 | 0 | 0 | 87,088 | 10,044 | 6,889 | 6,609 | 49,733 | 6,391 | 558 | ||
| -4,093 | 6,754 | 10,333 | 20,423 | -657 | -68 | -1,493 | 1,523 | -18,369 | 5,010 | 2,282 | -15,987 | 5,339 | 10,749 | -2,010 | -1,047 | - | ||
| 243,016 | 206,186 | 160,645 | 146,577 | 305,815 | 318,814 | 312,369 | 297,663 | 297,536 | 324,886 | 295,796 | 254,123 | 249,035 | 178,429 | 134,036 | 104,378 | 70,363 | ||
| 86.3% | 76.5% | 68.3% | 67.5% | 84.6% | 81.5% | 76.9% | 79.3% | 71.9% | 71.4% | 64.4% | 82.7% | 78.8% | 63.7% | 59.1% | 66.6% | 63.9% | ||
| 11.08 | 4.64 | 3.25 | 4.03 | 16.18 | 15.50 | 8.94 | 13.72 | 6.36 | 6.51 | 5.01 | 5.89 | 7.20 | 3.19 | 3.09 | 2.89 | 2.80 | ||
| 0.08 | 0.22 | 0.36 | 0.34 | 0.13 | 0.17 | 0.24 | 0.23 | 0.36 | 0.37 | 0.55 | 0.21 | 0.27 | 0.57 | 0.69 | 0.50 | 0.57 | ||
| 11.5% | 18.6% | 11.8% | 14.0% | 1.2% | 3.2% | 4.2% | 1.0% | -0.4% | 12.5% | 15.0% | 7.8% | 24.1% | 24.6% | 23.1% | 36.1% | 91.2% | ||
| 9.9% | 14.2% | 8.1% | 9.5% | 1.0% | 2.6% | 3.2% | 0.8% | -0.3% | 9.0% | 9.7% | 6.4% | 19.0% | 15.7% | 13.7% | 24.0% | 58.2% | ||
| 58.22 | 32.03 | 39.84 | 49.99 | - | - | - | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €4,947 | €65,752 | €42,432 | - |
| Financial fixed assets | €0 | - | - | - | - |
| €3,636 | €3,673 | €2,108 | €2,420 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 7% lower than in 2024.
Debt's share of the balance-sheet total falls from 17.0% to 7.3%. Equity is higher and debt is lower.
Source: lists of holdings in the owners' accounts
Source: list of holdings in the 2021 accounts of PARAGON CONSULTANTS. Every holding stands with its own latest accounts.
The network lets you explore the ties of TCS.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
TCS was incorporated on 1 September 2008.1 In 2022 the company absorbed PARAGON CONSULTANTS by merger.2 The registered office was moved to Kapellen in 2023.3 Total assets rose from €289,599 in 2022 to €356,389 in 2025.4
| Establishment | Since | Unit number |
|---|---|---|
| Holleweg 92 registered office 2950 Kapellen 4740001 Retail sale of information and communication equipment | 01-09-2008 | 2.174.716.145 |
| 19-10-2026 | Under review | Nieuwbouw van bijgebouwen, niet-overdekte lage constructies en andere handelingen; Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden project 2026118636 | Kapellen |
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11362M0033/00R000 | 1,963 m² | 1 · 159 m² | 9.3 m · 1 |
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