TEB
Open bankruptcyA bankruptcy procedure is open for TEB according to publications in the Belgian Official Gazette; trustee: Paul Van Rompaey.
Summary
The file additionally contains 2 judicial reorganisation notices and 1 administrative flag. The 2024 annual accounts show negative equity (-€24,469) and a net result of -€148,340.
Financials · financial year 2024, abbreviated format
Source amounts without an identifiable currency are assumed to be EUR.
Equity
-€24,469
2023 · €123,871
Total assets
€729,379▼ 23.7%
2023 · €955,693
Net result
-€148,340▼ 272%
2023 · -€39,826
Working capital
-€40,534
2023 · €124,421
Trend over the years
2020 to 2024, 5 financial years 2019 to 2024, 6 financial years
The operating result stays negative: a loss of €133,841 in 2024 against €25,983 in 2023; the loss grows and 2024 has the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€0.1m
2024
Net result-€0.1m
2024
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€0.7m
2024
Equity-€0.02m
2024
Debt€0.8m
2024
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€0.04m
2024
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-20.3%
2024
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency-3.4%
2024
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.95
2024
Average staff in full-time equivalents (FTE).
Staff (FTE)3.7
2024
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 17, Manufacture of paper and paper products: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line201920202021202220232024
Operating result€0.05m-€0.1m▲ 94.2%€0.2m▲ 70.9%€0.03m▼ 83.7%-€0.03m-€0.1m▼ 415%
Net result€0.02m-€0.005mwithin the sector's middle half▼ 76.0%€0.02mwithin the sector's middle half▲ 255%€0.01mwithin the sector's middle half▼ 32.1%-€0.04mbelow the sector's middle half-€0.1mbelow the sector's middle half▼ 272%
Equity€0.1m-€0.1mabove the sector's middle half▲ 3.8%€0.2mwithin the sector's middle half▲ 13.0%€0.2mabove the sector's middle half▲ 7.8%€0.1mbelow the sector's middle half▼ 24.3%-€0.02mbelow the sector's middle half
Total assets€0.4m-€0.7mabove the sector's middle half▲ 63.3%€0.6mabove the sector's middle half▼ 18.1%€1.2mabove the sector's middle half▲ 107%€1.0mbelow the sector's middle half▼ 21.1%€0.7mbelow the sector's middle half▼ 23.7%
Debt€0.3m-€0.6m▲ 88.4%€0.4m▼ 25.3%€1.0m▲ 142%€0.8m▼ 20.7%€0.8m▼ 9.4%
Working capital€0.2m-€0.2mabove the sector's middle half▲ 13.3%€0.2mabove the sector's middle half▼ 2.7%€0.2mabove the sector's middle half▼ 18.2%€0.1mwithin the sector's middle half▼ 37.4%-€0.04mbelow the sector's middle half
Solvency29.6%-18.8%within the sector's middle half▼ 10.8pp26.0%within the sector's middle half▲ 7.1pp13.5%within the sector's middle half▼ 12.5pp13.0%below the sector's middle half▼ 0.5pp-3.4%below the sector's middle half▼ 16.3pp
Current ratio2.05-1.55within the sector's middle half▼ 0.501.72within the sector's middle half▲ 0.171.20within the sector's middle half▼ 0.521.15below the sector's middle half▼ 0.040.95below the sector's middle half▼ 0.21
Return on assets (ROA)4.7%-0.7%within the sector's middle half▼ 4.0pp3.0%within the sector's middle half▲ 2.3pp1.0%within the sector's middle half▼ 2.0pp-4.2%below the sector's middle half▼ 5.1pp-20.3%below the sector's middle half▼ 16.2pp
Staff (FTE)2.62.6below the sector's middle half=3.7below the sector's middle half▲ 42.3%
above
within
below
the middle half of NACE 17, Manufacture of paper and paper products: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated or micro format does not require them.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €729,379
Fixed assets
€20,872 ▲ 9.7%
Current assets
€708,507 ▼ 24.4%
Equity and liabilities
Equity-€24,469
Debt€753,848
Equity is negative: debt (€753,848) exceeds the balance-sheet total (€729,379).
Key figures and ratios
EBITDA
-€129,908▼
2023 · -€22,707
Cash flow
-€144,407▼
2023 · -€36,550
Quick ratio
0.88▼
2023 · 1.02
Interest coverage
-9.04▼
2023 · -1.66
Debt ≤ 1 year
€749,041▼
2023 · €812,237
Debt > 1 year
€4,807▼
2023 · €19,584
Income taxes
€134▲
2023 · €132
Staff costs
€80,185▼
2023 · €108,893
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €133,647 | €108,893 | €80,185 | ▼ 26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,513 | €3,228 | €2,238 | €1,199 | €3,276 | €3,933 | ▲ 20.1% |
| Other operating charges640/8 | - | - | - | €3,742 | €25,165 | €13,702 | ▼ 45.6% |
| Non-recurring operating charges66A | - | - | - | €2,344 | - | €24,118 | - |
| Gross operating margin9900 | €60,188 | €118,756 | €183,821 | €170,573 | €111,351 | -€11,902 | - |
| Operating profit (loss)9901 | €54,697 | €106,223 | €181,584 | €29,641 | -€25,983 | -€133,841 | ▼ 415% |
| Financial charges65/66B | - | - | €156,755 | €8,934 | €13,712 | €14,365 | ▲ 4.8% |
| Recurring financial charges65 | €25,497 | €88,203 | €19,108 | €8,934 | €13,712 | €14,365 | ▲ 4.8% |
| Non-recurring financial charges66B | - | - | €137,647 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €29,200 | €15,901 | €24,829 | €20,707 | -€39,694 | -€148,206 | ▼ 273% |
| Income taxes67/77 | €8,717 | €10,979 | €7,353 | €8,846 | €132 | €134 | ▲ 2.1% |
| Profit (loss) for the period9904 | €20,483 | €4,922 | €17,476 | €11,862 | -€39,826 | -€148,340 | ▼ 272% |
| Profit (loss) for the period to be appropriated9905 | €20,483 | €4,922 | €17,476 | €11,862 | -€39,826 | -€148,340 | ▼ 272% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €0.4m | €0.7m | €0.6m | €1.2m | €1.0m | €0.7m | ▼ 23.7% |
| Fixed assets21/28 | €0.006m | €0.006m | €0.004m | €0.01m | €0.02m | €0.02m | ▲ 9.7% |
| Tangible fixed assets22/27 | €0.006m | €0.006m | €0.003m | €0.002m | €0.01m | €0.01m | ▲ 15.9% |
| Plant, machinery and equipment23 | - | - | €0.002m | €0.001m | €0.001m | €0.001m | ▲ 3.4% |
| Furniture and vehicles24 | - | - | €0.002m | €0.001m | €0.01m | €0.01m | ▲ 17.5% |
| Financial fixed assets28 | - | €0.001m | €0.001m | €0.008m | €0.008m | €0.008m | = |
| Current assets29/58 | €0.4m | €0.7m | €0.6m | €1.2m | €0.9m | €0.7m | ▼ 24.4% |
| Stocks and contracts in progress3 | - | - | €0.02m | €0.1m | €0.1m | €0.05m | ▼ 56.0% |
| Stocks30/36 | - | - | €0.02m | €0.1m | €0.1m | €0.05m | ▼ 56.0% |
| Amounts receivable within one year40/41 | €0.4m | €0.7m | €0.5m | €1.1m | €0.7m | €0.6m | ▼ 15.6% |
| Trade receivables40 | - | - | €0.4m | €0.9m | €0.7m | €0.6m | ▼ 17.7% |
| Other amounts receivable41 | - | - | €0.2m | €0.1m | €0.07m | €0.07m | ▲ 5.5% |
| Cash at bank and in hand54/58 | €0.004m | - | €0.008m | €0.02m | - | - | - |
| Deferred charges and accrued income490/1 | - | - | - | €0.03m | €0.09m | €0.04m | ▼ 59.5% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €0.4m | €0.7m | €0.6m | €1.2m | €1.0m | €0.7m | ▼ 23.7% |
| Equity10/15 | €0.1m | €0.1m | €0.2m | €0.2m | €0.1m | -€0.02m | - |
| Contributions10/11 | €0.006m | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Reserves13 | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | = |
| Non-distributable reserves130/1 | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Tax-exempt reserves132 | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | - | - | - | - | -€0.04m | -€0.2m | ▼ 372% |
| Amounts payable17/49 | €0.3m | €0.6m | €0.4m | €1.0m | €0.8m | €0.8m | ▼ 9.4% |
| Amounts payable after more than one year17 | €0.1m | €0.1m | €0.09m | €0.04m | €0.02m | €0.005m | ▼ 75.5% |
| Financial debts170/4 | - | - | €0.09m | €0.04m | €0.02m | €0.005m | ▼ 75.5% |
| Amounts payable within one year42/48 | €0.2m | €0.5m | €0.3m | €1.0m | €0.8m | €0.7m | ▼ 7.8% |
| Current portion of amounts payable after more than one year42 | - | - | €0.06m | €0.07m | €0.04m | €0.03m | ▼ 28.6% |
| Financial debts43 | - | - | €0.02m | €0.1m | €0.1m | €0.1m | ▲ 0.1% |
| Credit institutions430/8 | - | - | €0.02m | €0.1m | €0.1m | €0.1m | = |
| Other loans439 | - | - | - | - | €0.02m | €0.02m | ▲ 1.0% |
| Trade debts44 | €0.02m | €0.2m | €0.003m | €0.5m | €0.4m | €0.2m | ▼ 36.0% |
| Suppliers440/4 | - | - | €0.003m | €0.5m | €0.4m | €0.2m | ▼ 36.0% |
| Advances received on contracts in progress46 | - | - | €0.2m | €0.2m | - | - | - |
| Taxes, remuneration and social security45 | - | - | €0.07m | €0.1m | €0.1m | €0.2m | ▲ 60.0% |
| Taxes450/3 | - | - | €0.07m | €0.1m | €0.1m | €0.2m | ▲ 31.8% |
| Remuneration and social security454/9 | - | - | - | - | - | €0.04m | - |
| Other amounts payable47/48 | - | - | - | - | €0.09m | €0.09m | = |
| Accrued charges and deferred income492/3 | - | - | €0.003m | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,483 | €4,922 | €17,476 | €11,862 | -€39,826 | -€148,340 | ▼ 272% |
| + Depreciation and write-downs630 | €1,513 | €3,228 | €2,238 | €1,199 | €3,276 | €3,933 | ▲ 20.1% |
| Operating cash flow (approximation) | €21,996 | €8,150 | €19,714 | €13,061 | -€36,550 | -€144,407 | ▼ 295% |
| Investment in fixed assets (approximation) | - | -€4,100 | €0 | -€6,864 | -€12,411 | -€5,770 | ▲ 53.5% |
| Change in cash | - | - | - | €9,699 | - | - | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2024 | abbreviated format | 04-03-2026 | 2026-00048420 |
| 31-12-2023 | abbreviated format | 07-11-2024 | 2024-00533046 |
| 31-12-2022 | micro format | 08-02-2024 | 2024-00028961 |
| 31-12-2021 | micro format | 30-09-2022 | 2022-20455384 |
| 31-12-2020 | micro format | 28-10-2021 | 2021-74100275 |
| 31-03-2019 | micro format | 01-10-2019 | 2019-68600392 |
| 31-03-2018 | micro format | 30-10-2018 | 2018-70700438 |
| 31-03-2017 | micro format | 07-11-2017 | 2017-69300496 |
| 31-03-2016 | abbreviated format | 13-10-2016 | 2016-65600033 |
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Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.