TECHNICAL DESIGN SYSTEM
ActiveSummary
TECHNICAL DESIGN SYSTEM has been active since 2017 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.7m and a net result of €603,746. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 50% of 892 sector peers (NACE 71, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 23-08-2017 Normal situation
- Activity
- Engineering and related technical consultancy, excluding land surveyors NACE 71121and 2 others
- Joint committees
- 111 Paritair Comité voor de metaal-, machine- en elektrische bouw
- 209 Paritair Comité voor de bedienden der metaalfabrikatennijverheid · annual accounts 2025
- Establishment unit
- 2.267.882.962 4000 Liège, since 23-08-2017
- Financial year end
- 31 December
- Peppol
- Reachable since 27-10-2025
Board and ownership
Board
- BALTEAU GROUPDirector · since 24-02-2022 · permanent representative RIZZO Salvatore
- DERO-INVESTDirector · since 24-02-2022 · permanent representative DEROANNE Patrick
- NOSHAQ PARTNERSDirector · since 24-02-2022 · permanent representative OMIN Nathalie
Shareholders
- PARTFINconsolidatesannual accounts 2024
- SLD25.25%· score 942025 annual accounts of SLD
- BALTEAU GROUP25.16%2025 annual accounts of BALTEAU GROUP
- Holdings
- Shares in 1 company TDS IMMO
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
Annual accounts 2025
- Gross margin
- €1.5m
- ▼ 16.1%
- Turnover
- ≈ €2.7m
- estimated
- Profit
- €603,746
- ▼ 38.8%
- Equity
- €1.7m
- ▲ 33.3%
- Total assets
- €4.2m
- ▲ 83.2%
- Employees on 31-12-2025
- 12
- ▲ 20.0%
- 2025 accounts filed 31 days after the deadline
Score breakdownraises riskLast filed accounts filed 31 days late; 1 of the last 3 accounts latelowers riskSector: Architectural and engineering activities; technical testing and analysis (NACE 71)Liquidity: current ratio 1.68, cash €914,671Size: 11.9 FTE, total assets €4.2mShow the evidence
Checked score
Score 2025
97
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 74% of small companies in architecture and engineering (NACE 71)
Financial strength · tick: 2024
Strong
Solvency
66-15
equity 41.0% of total assets
Liquidity
67-17
short-term debt 26.7% · cash 21.8%
Profitability
87-13
return on assets 14.4%
Bankruptcy probability within 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.2%▲ +0.1 percentage points vs 07-2025highest value
09-2025: < 0.1%▼ -0.2 percentage points vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025lowest value
11-2025: < 0.1%● unchanged vs 10-2025lowest value
12-2025: < 0.1%● unchanged vs 11-2025lowest value
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: 0.1%▲ +0.1 percentage points vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Credit of up to €160,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.68 (2.23 in 2024), above the usual 1.5. Short-term debt is 26.7% and cash 21.8% of total assets. However, 59% of the assets are financed with debt and provisions.
Calculation
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 71, small). It does better than 50% of them on solvency, 78% on liquidity, 84% on profitability and 85% on growth.
The bankruptcy probability was computed on 02-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €1.7m
raises risk · 2025 accounts filed 31 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 8 filingsDeviation from the deadline
2025
31 days late
2024
18 days late
2023
50 days early
2022
21 days late
2021
149 days late
2020
31 days late
2019
31 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 33 days after the deadline. In the sector (NACE 71), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 21 August (4 of the last 5 accounts filed within 70 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
03-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, full format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00499588.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 8 filings
Turnover
≈ €2.7m
Estimated: probably between €1.8m and €4.4m
EBIT margin
Not included in this filing
Net result
€603,746▼ 38.8%
2024 · €986,808
Working capital
€758,504▼ 23.0%
2024 · €984,858
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€838,277
▼ 22.0%
2025
20182025
Net result
€603,746
▼ 38.8%
2025
highest quarter of the sector
20182025
Equity
€1.7m
▲ 33.3%
2025
middle half of the sector
20182025
Total assets
€4.2m
▲ 83.2%
2025
middle half of the sector
20182025
Debt
€2.5m
▲ 160%
2025
20182025
Working capital
€758,504
▼ 23.0%
2025
middle half of the sector
20182025
Solvency
41.0%
▼ 15.4pp
2025
middle half of the sector
20182025
Current ratio
1.68
▼ 0.55
2025
middle half of the sector
20182025
Return on assets (ROA)
14.4%
▼ 28.7pp
2025
highest quarter of the sector
20182025
Staff (FTE)
11.9
▲ 4.4%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.1m--€0.003m▲ 97.8%-€0.2m▼ 6,500%-€0.6m▼ 220%-€0.3m▲ 47.9%€0.4m€1.1m▲ 143%€0.8m▼ 22.0%
Net result-€0.2m--€0.03m▲ 82.3%-€0.2mbelow the sector's middle half▼ 685%-€0.7mbelow the sector's middle half▼ 209%-€0.4mbelow the sector's middle half▲ 46.9%€0.4mabove the sector's middle half€1.0mabove the sector's middle half▲ 156%€0.6mabove the sector's middle half▼ 38.8%
Equity€0.04m-€0.01m▼ 72.9%-€0.2mbelow the sector's middle half-€0.9mbelow the sector's middle half▼ 325%-€0.4mbelow the sector's middle half▲ 52.0%€0.3mwithin the sector's middle half€1.3mabove the sector's middle half▲ 327%€1.7mwithin the sector's middle half▲ 33.3%
Total assets€1.7m-€1.7m▼ 1.9%€1.3mwithin the sector's middle half▼ 24.9%€1.1mwithin the sector's middle half▼ 11.4%€0.8mwithin the sector's middle half▼ 26.0%€1.5mwithin the sector's middle half▲ 74.8%€2.3mwithin the sector's middle half▲ 54.9%€4.2mwithin the sector's middle half▲ 83.2%
Debt€1.7m-€1.7m▼ 0.3%€1.5m▼ 11.9%€2.0m▲ 34.9%€1.3m▼ 36.9%€1.2m▼ 8.2%€1.0m▼ 19.1%€2.5m▲ 160%
Working capital€0.03m--€0.1m-€0.3mbelow the sector's middle half▼ 156%-€0.7mbelow the sector's middle half▼ 124%-€0.5mbelow the sector's middle half▲ 30.1%€0.4mwithin the sector's middle half€1.0mabove the sector's middle half▲ 150%€0.8mwithin the sector's middle half▼ 23.0%
Solvency2.2%-0.6%▼ 1.6pp-16.5%below the sector's middle half▼ 17.2pp-79.3%below the sector's middle half▼ 62.8pp-51.5%below the sector's middle half▲ 27.8pp20.5%within the sector's middle half▲ 71.9pp56.4%within the sector's middle half▲ 35.9pp41.0%within the sector's middle half▼ 15.4pp
Current ratio1.03-0.89▼ 0.130.69below the sector's middle half▼ 0.210.49below the sector's middle half▼ 0.200.48below the sector's middle half▼ 0.011.53within the sector's middle half▲ 1.052.23within the sector's middle half▲ 0.711.68within the sector's middle half▼ 0.55
Return on assets (ROA)-9.2%--1.7%▲ 7.5pp-17.4%below the sector's middle half▼ 15.7pp-60.6%below the sector's middle half▼ 43.3pp-43.5%below the sector's middle half▲ 17.1pp26.1%above the sector's middle half▲ 69.6pp43.2%above the sector's middle half▲ 17.0pp14.4%above the sector's middle half▼ 28.7pp
Staff (FTE)9.4-15.1▲ 60.6%15.1within the sector's middle half=13.9within the sector's middle half▼ 7.9%12.1within the sector's middle half▼ 12.9%10.3within the sector's middle half▼ 14.9%11.4within the sector's middle half▲ 10.7%11.9within the sector's middle half▲ 4.4%
above
within
below
The sector band is the middle half of the companies in Architectural and engineering activities; technical testing and analysis (NACE 71). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 22% lower than in 2024.
Large changes and their cause
- 2023 Total assets +75% on 2022. Capital increase of €261,000 (Official Gazette 04-04-2023).
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.2m
Fixed assets
€2.3m ▲ 361%
Current assets
€1.9m ▲ 5.2%
Equity and liabilities €4.2m
Equity
€1.7m ▲ 33.3%
Provisions
€0 ▼ 100%
Debt
€2.5m ▲ 160%
Debt's share of the balance-sheet total rises from 41.6% to 59.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€969,533▼
2024 · €1.2m
Cash flow
€735,003▼
2024 · €1.1m
Quick ratio
1.54▼
2024 · 1.98
Debt to equity
1.44▲
2024 · 0.74
ROE
35.2%▼
2024 · 76.6%
Interest coverage
29.74▲
2024 · 21.97
Debt ≤ 1 year
€1.1m▲
2024 · €799,801
Debt > 1 year
€1.3m▲
2024 · €109,623
Income taxes
€208,873▲
2024 · €36,090
Staff costs
€607,741▲
2024 · €582,743
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 14 | 10 | 12 | 10 | 12 |
| full-time | 12 | 9 | 11 | 9 | 11 |
| part-time | 2 | 1 | 1 | 1 | 1 |
| in full-time equivalents | 13.4 | 9.6 | 11.6 | 9.6 | 11.6 |
| Average over the year, in full-time equivalents | 13.9 | 12.1 | 10.3 | 11.4 | 11.9 |
| On a permanent contract | 13 | 10 | 11 | 8 | 10 |
| Joined | 1 | 4 | 10 | 18 | 18 |
| Left | 3 | 8 | 8 | 20 | 16 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Overdue social security (RSZ) debts | €164,663 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €772,227 | €695,484 | €832,665 | €524,327 | €1.7m |
| Pledge on the business | €990,000 | €475,000 | €1.5m | €1.5m | €1.5m |
| Carrying value of the other pledged assets | - | - | - | - | €971,620 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,560 | €670 | €10,656 | €227,174 | €20,189 |
| Intangible fixed assets | - | - | - | €59,000 | €0 |
| Financial fixed assets | - | - | - | - | €1.9m |
| Depreciation and write-downs of the year | €102,865 | €82,203 | €72,164 | €116,662 | €131,256 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €0.6m | €0.6m | €0.5m | €0.6m | €0.6m | ▲ 4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.04m | €0.1m | €0.1m | €0.1m | €0.08m | €0.07m | €0.1m | €0.1m | ▲ 12.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.1m | -€0.07m | - | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €0.02m | -€0.02m | - | €0.05m | -€0.05m | - |
| Other operating charges640/8 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | ▼ 9.6% |
| Non-recurring operating charges66A | - | - | - | €0.03m | €0.001m | €191 | €0.002m | €125 | ▼ 93.1% |
| Gross operating margin9900 | €0.3m | €0.7m | €0.5m | €0.2m | €0.2m | €1.0m | €1.8m | €1.5m | ▼ 16.1% |
| Operating profit (loss)9901 | -€0.1m | -€0.003m | -€0.2m | -€0.6m | -€0.3m | €0.4m | €1.1m | €0.8m | ▼ 22.0% |
| Financial income75/76B | - | - | - | €61 | €252 | €361 | €0.003m | €0.007m | ▲ 162% |
| Recurring financial income75 | €45 | €2 | €10 | €61 | €252 | €361 | €0.003m | €0.007m | ▲ 162% |
| Financial charges65/66B | - | - | - | €0.06m | €0.04m | €0.06m | €0.05m | €0.03m | ▼ 39.9% |
| Recurring financial charges65 | €0.03m | €0.03m | €0.03m | €0.06m | €0.04m | €0.06m | €0.05m | €0.03m | ▼ 39.9% |
| Profit (loss) for the period before taxes9903 | -€0.2m | -€0.03m | -€0.2m | -€0.7m | -€0.4m | €0.4m | €1.0m | €0.8m | ▼ 20.6% |
| Income taxes67/77 | €117 | €187 | €114 | €137 | - | €182 | €0.04m | €0.2m | ▲ 479% |
| Profit (loss) for the period9904 | -€0.2m | -€0.03m | -€0.2m | -€0.7m | -€0.4m | €0.4m | €1.0m | €0.6m | ▼ 38.8% |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | - | - | €0.1m | - |
| Profit (loss) for the period to be appropriated9905 | -€0.2m | -€0.03m | -€0.2m | -€0.7m | -€0.4m | €0.4m | €1.0m | €0.5m | ▼ 52.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.7m | €1.7m | €1.3m | €1.1m | €0.8m | €1.5m | €2.3m | €4.2m | ▲ 83.2% |
| Formation expenses20 | €0.006m | €0.004m | €0.003m | €0.001m | €66 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €0.7m | €0.7m | €0.6m | €0.5m | €0.4m | €0.3m | €0.5m | €2.3m | ▲ 361% |
| Intangible fixed assets21 | €0.05m | €0.09m | €0.06m | €0.008m | €0 | €0 | €0.05m | €0.04m | ▼ 22.9% |
| Tangible fixed assets22/27 | €0.6m | €0.6m | €0.5m | €0.5m | €0.4m | €0.3m | €0.4m | €0.3m | ▼ 22.2% |
| Plant, machinery and equipment23 | - | - | - | €0.5m | €0.4m | €0.3m | €0.3m | €0.2m | ▼ 20.9% |
| Furniture and vehicles24 | - | - | - | €0.002m | €0.001m | €291 | €0.02m | €0.01m | ▼ 26.6% |
| Leasing and similar rights25 | - | - | - | - | - | - | €0.2m | €0.1m | ▼ 24.1% |
| Financial fixed assets28 | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €1.9m | ▲ 576× |
| Current assets29/58 | €1.0m | €1.0m | €0.7m | €0.7m | €0.4m | €1.1m | €1.8m | €1.9m | ▲ 5.2% |
| Stocks and contracts in progress3 | €0.2m | €0.3m | €0.3m | €0.2m | €0.1m | €0.2m | €0.2m | €0.2m | ▼ 25.4% |
| Stocks30/36 | - | - | - | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 3.8% |
| Contracts in progress37 | - | - | - | €0.05m | €0.02m | €0.05m | €0.06m | €0.01m | ▼ 79.9% |
| Amounts receivable within one year40/41 | €0.5m | €0.4m | €0.3m | €0.4m | €0.3m | €0.4m | €0.4m | €0.8m | ▲ 123% |
| Trade receivables40 | - | - | - | €0.4m | €0.3m | €0.4m | €0.3m | €0.8m | ▲ 146% |
| Other amounts receivable41 | - | - | - | €0.001m | €0.004m | €87 | €0.04m | €0.01m | ▼ 67.7% |
| Cash at bank and in hand54/58 | €0.08m | €0.1m | €0.04m | €0.01m | €0.03m | €0.6m | €1.2m | €0.9m | ▼ 24.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0.006m | €0.004m | €0.005m | €0.006m | €0 | ▼ 100% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.7m | €1.7m | €1.3m | €1.1m | €0.8m | €1.5m | €2.3m | €4.2m | ▲ 83.2% |
| Equity10/15 | €0.04m | €0.01m | -€0.2m | -€0.9m | -€0.4m | €0.3m | €1.3m | €1.7m | ▲ 33.3% |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €0.2m | €0.6m | €1.0m | €1.0m | €1.0m | = |
| Capital10 | - | - | - | €0.2m | €0.6m | €1.0m | €1.0m | €1.0m | = |
| Issued capital100 | - | - | - | €0.2m | €0.6m | €1.0m | €1.0m | €1.0m | = |
| Reserves13 | - | - | - | - | - | - | - | €0.1m | - |
| Tax-exempt reserves132 | - | - | - | - | - | - | - | €0.1m | - |
| Profit (loss) carried forward14 | -€0.2m | -€0.2m | -€0.4m | -€1.1m | -€1.1m | -€0.7m | €0.3m | €0.6m | ▲ 94.0% |
| Provisions and deferred taxes16 | - | - | - | €0.02m | €0 | - | €0.05m | €0 | ▼ 100% |
| Provisions for liabilities and charges160/5 | - | - | - | €0.02m | €0 | - | €0.05m | €0 | ▼ 100% |
| Major repairs and maintenance162 | - | - | - | €0.02m | €0 | - | €0.05m | €0 | ▼ 100% |
| Amounts payable17/49 | €1.7m | €1.7m | €1.5m | €2.0m | €1.3m | €1.2m | €1.0m | €2.5m | ▲ 160% |
| Amounts payable after more than one year17 | €0.7m | €0.6m | €0.5m | €0.5m | €0.3m | €0.4m | €0.1m | €1.3m | ▲ 12× |
| Financial debts170/4 | - | - | - | €0.2m | €0.06m | €0 | €0.1m | €1.3m | ▲ 12× |
| Other amounts payable178/9 | - | - | - | €0.3m | €0.3m | €0.4m | €0 | €0 | - |
| Amounts payable within one year42/48 | €1.0m | €1.1m | €1.0m | €1.4m | €0.9m | €0.7m | €0.8m | €1.1m | ▲ 39.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.2m | €0.1m | €0.09m | €0.4m | €0.2m | ▼ 47.6% |
| Financial debts43 | - | - | - | €0.4m | €0.4m | €0.4m | €0 | €0.1m | - |
| Credit institutions430/8 | - | - | - | €0.4m | €0.4m | €0.4m | €0 | €0.1m | - |
| Trade debts44 | €0.3m | €0.3m | €0.2m | €0.5m | €0.3m | €0.2m | €0.3m | €0.2m | ▼ 13.3% |
| Suppliers440/4 | - | - | - | €0.5m | €0.3m | €0.2m | €0.3m | €0.2m | ▼ 13.3% |
| Advances received on contracts in progress46 | - | - | - | €0.05m | €0.06m | €0.02m | €0 | €0 | - |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.1m | €0.07m | €0.1m | €0.4m | ▲ 195% |
| Taxes450/3 | - | - | - | €0.05m | €0.007m | €0.009m | €0.04m | €0.3m | ▲ 516% |
| Remuneration and social security454/9 | - | - | - | €0.3m | €0.09m | €0.06m | €0.08m | €0.1m | ▲ 21.8% |
| Other amounts payable47/48 | - | - | - | €0.008m | €0.008m | €0.02m | €0.005m | €0.2m | ▲ 39× |
| Accrued charges and deferred income492/3 | - | - | - | €0.1m | €0.02m | €0.03m | €0.04m | €0.009m | ▼ 77.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.2m | -€0.03m | -€0.2m | -€0.7m | -€0.4m | €0.4m | €1.0m | €0.6m | ▼ 38.8% |
| + Depreciation and write-downs630 | €0.04m | €0.1m | €0.1m | €0.1m | €0.08m | €0.07m | €0.1m | €0.1m | ▲ 12.5% |
| Operating cash flow (approximation) | -€0.1m | €0.08m | -€0.1m | -€0.6m | -€0.3m | €0.5m | €1.1m | €0.7m | ▼ 33.4% |
| Investment in fixed assets (approximation) | - | -€0.09m | -€0.02m | €0.02m | -€0.002m | -€0.01m | -€0.3m | -€1.9m | ▼ 583% |
| Change in cash | - | €0.03m | -€0.07m | -€0.03m | €0.02m | €0.5m | €0.6m | -€0.3m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 6,782 companies had the same profile as TECHNICAL DESIGN SYSTEM has now. Two years later, 96.7% were still going and 0.6% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.7%
was still going
2.7%
stopped otherwise
0.6%
went bankrupt
That fits the bankruptcy probability of TECHNICAL DESIGN SYSTEM itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 6,782 companies, not a prediction for TECHNICAL DESIGN SYSTEM. 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.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 31-08-2026 | 2026-00499588 | |
| 31-12-2024 | full format | 18-08-2025 | 2025-00381157 | |
| 31-12-2023 | full format | 11-06-2024 | 2024-00122505 | |
| 31-12-2022 | full format | 21-08-2023 | 2023-00336711 | |
| 31-12-2021 | full format | 27-12-2022 | 2023-20550630 | |
| 31-12-2020 | full format | 31-08-2021 | 2021-60500537 | |
| 31-12-2019 | full format | 31-08-2020 | 2020-48000295 | |
| 31-12-2018 | full format | 11-09-2019 | 2019-63900442 |
Board & ownership
Directors
Directors
6 directors, last change in 2024
Board 6
BALTEAU GROUP
Current
Administrateur de classe a · since 24-02-2022 · 6-year term from 2022 · Legal entity · permanent representative: RIZZO Salvatore · listed in the 2025 annual accounts, filed on 31-08-2026
DERO-INVEST
Current
Administrateur de classe a · since 24-02-2022 · 6-year term from 2022 · Legal entity · permanent representative: DEROANNE Patrick · listed in the 2025 annual accounts, filed on 31-08-2026
NOSHAQ PARTNERS
Current
Administrateur de classe b · since 24-02-2022 · 6-year term from 2022 · Legal entity · permanent representative: OMIN Nathalie · 7 other companies bankrupt · listed in the 2025 annual accounts, filed on 31-08-2026
SLD
Current
Administrateur de classe a · since 24-02-2022 · 6-year term from 2022 · Legal entity · permanent representative: SIRACUSA Angelo Antonio · listed in the 2025 annual accounts, filed on 31-08-2026
VANDEGAR TECHNICAL SERVICES
Current
Administrateur de classe a · since 24-02-2022 · 6-year term from 2022 · Legal entity · permanent representative: VANDEGAR Alain · listed in the 2025 annual accounts, filed on 31-08-2026
SPARAXIS
Current
Director · since 10-07-2023 · Legal entity · permanent representative: Frédéric Kalkmann · 5 other companies bankrupt · listed in the 2025 annual accounts, filed on 31-08-2026
Permanent representatives 6
SIRACUSA Angelo Antonio
Current
Permanent representative · appointed in the act of 01-03-2022 · for SLD
Frédéric Kalkmann
Current
Permanent representative · appointed in the act of 31-10-2024 · for SPARAXIS
DEROANNE Patrick
Current
Permanent representative · in office according to the act of 01-03-2022 · for DERO-INVEST
OMIN Nathalie
Current
Permanent representative · in office according to the act of 01-03-2022 · for NOSHAQ PARTNERS
RIZZO Salvatore
Current
Permanent representative · in office according to the act of 01-03-2022 · for BALTEAU GROUP
VANDEGAR Alain
Current
Permanent representative · in office according to the act of 01-03-2022 · for VANDEGAR TECHNICAL SERVICES
Owners and capital
Shareholders
7 ownersChain of control
- PARTFIN
- TECHNICAL DESIGN SYSTEM
Owners 7
- PARTFINconsolidating parentEquity €3.4m Profit of €1.3m in 2025 (profit of €810,122 in 2024)consolidates
- Sourceaccounts SLD 2025Equity €1.5m Profit of €422,584 in 2025 (profit of €251,010 in 2024) Checked score 9425.25%
- Equity €15.1m Profit of €2.0m in 2025 (profit of €2.4m in 2024)25.16%
- Equity €1.8m Profit of €36,729 in 2025 (profit of €33,502 in 2024)20%
- Equity €212.1m Profit of €28.5m in 2025 (loss of €25.2m in 2024)19.7%
- Equity €4.98bn Profit of €151.2m in 2025 (profit of €279.8m in 2024)17.97%
- Equity €161,626 Profit of €36,940 in 2025 (profit of €7,034 in 2024) Checked score 889.62%
Capital transactions
Capital over time
- 04-04-2023 Capital increase of €90,000 · to €714,852 · 90 new shares at €1,000 per share · “apport de créances détenues par souscripteur à l'encontre de la société”
- 04-04-2023 Capital increase of €261,000 · to €975,852 · 261 new shares at €1,000 per share · in cash
The directors' other companies
3 current directors with another company that went bankrupt, was dissolved or struck off
NOSHAQ PARTNERS
7 other companies of this director went bankrupt (2023, 2025, 2026).
- Fonderies J. Marichal Ketin et Cie bankruptcy on 30-04-2026Official Gazetteappointed in 2021, still in office
- ARTIALIS bankruptcy on 13-04-2026Official Gazetteappointed in 2024, still in office
- A7 SOFTWARE bankruptcy on 02-03-2026Official Gazette
- AVISTER-MEDICAL bankruptcy on 05-01-2026Official Gazetteappointed in 2024, still in office
- Gembloux.beer bankruptcy on 27-11-2025Official Gazettemandate until 2024
- BELMIX OPERATING SERVICES bankruptcy on 06-03-2023Official Gazettemandate until 2022
- MUUSELABS bankruptcy according to the KBO registermandate until 2023
SPARAXIS
5 other companies of this director went bankrupt (2024, 2025, 2026).
- DFM SAVEURS bankruptcy on 15-10-2026Official Gazettemandate 2024 to 2026
- Belga-Films bankruptcy on 12-02-2026Official Gazettemandate until 2024
- Air Belgium bankruptcy on 30-04-2025Official Gazetteappointed in 2022, still in office
- BBK Expansion bankruptcy on 01-10-2024Official Gazetteappointed in 2023, still in office
- ENERWOOD bankruptcy on 08-04-2024Official Gazetteappointed in 2024, still in office
1 other company of this director went bankrupt (2026).
- Fonderies J. Marichal Ketin et Cie bankruptcy on 30-04-2026Official Gazetteappointed in 2021, still in office
Source: Belgian Official Gazette (bankruptcies, judicial dissolutions, board mandates), FPS Economy (strike-offs) and the KBO register. A bankruptcy, dissolution or strike-off says nothing about the director's part in it.
Mandate history
9 people, 6 in office
- Board
- Statutory auditor
- began earlier
- end not dated
| Name | Functions and periods |
|---|---|
| BALTEAU GROUP |
|
| DERO-INVEST |
|
| NOSHAQ PARTNERS |
|
| SLD |
|
| VANDEGAR TECHNICAL SERVICES |
|
| SPARAXIS |
|
| WALLONIE ENTREPRENDRE |
|
| 3R, Leboutte & C° |
|
| SOCIETE WALLONNE DE GESTION ET DE PARTICIPATIONS |
|
Articles of association
Board and representation
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Six ans au plus, fixé par la loi”“Points portés à l'ordre du jour uniquement, moitié au moins des membres présents ou représentés”“Accomplir tous actes contribuant à réalisation objet, 15”
Audit, dissolution and liquidation
- Dissolution ruleThe articles set when and by whom the company can be dissolved.
- “Perte du capital, 35”
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Liquidation, 36”
Articles of association, deed of 01-03-2022 (in French)
Network & group
Holdings and subsidiaries
1 holdingHoldings 1
- TDS IMMOsubsidiarySourceown accounts 2025Equity -€218,772 Loss of €192,972 in 2025 (profit of €85,010 in 2024) Checked score 53100%
Connections & network
24 connected companiesThis company
Company
Director
Shareholding
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Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
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Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
31-08
full format · 31 days late
2025
18-08
full format · 18 days late
2024
31-12
Financial
Highest result from 2018 to 2025net €986,808 ▲156%
The operating result of €1.1m and the net result of €986,808 are both a record.
31-12
Financial
Equity above €1mequity €1.3m ▲327%
After 2 profitable years in a row, equity reaches €1.3m.
31-10
Gazette deed
2 directors appointed, 1 director resigningAppointments: SPARAXIS (director) and 3R, Leboutte & Co (statutory auditor) · Resignation: WALLONIE ENTREPRENDRE (director) · Permanent representative: Frédéric Kalkmann6 points ▸
Gazette deed
2 directors appointed, 1 director resigning
Appointments: SPARAXIS (director) and 3R, Leboutte & Co (statutory auditor) · Resignation: WALLONIE ENTREPRENDRE (director) · Permanent representative: Frédéric Kalkmann6 points ▸
- General meeting, 10-07-2023
- Director appointment, SPARAXIS (director)
- Director resignation, WALLONIE ENTREPRENDRE (director)
- Permanent representative, Frédéric Kalkmann (representative), mentioned 2 times in the deed
- General meeting, 30-05-2024
- Auditor appointment, 3R, Leboutte & Co (statutory auditor)
11-06
full format · 50 days before the deadline
2023
31-12
Financial
Back to profitnet €385,579
The net result is €385,579, after 5 loss-making years.
31-12
Financial
Liquidity more than triplescurrent ratio 1.53
The current ratio rises from 0.48 to 1.53. Short-term debt falls from €940,706 to €748,948.
31-12
Financial
Equity above €200,000equity €301,944
Equity rises from -€434,635 to €301,944.
30-10
Gazette deed
Permanent representatives: Stéphane DUMOULIN and Frédéric DRIESSENS3 points ▸
Gazette deed
Permanent representatives: Stéphane DUMOULIN and Frédéric DRIESSENS
3 points ▸
- Permanent representative, Stéphane DUMOULIN
- Permanent representative, Frédéric DRIESSENS
- Director in office, NOSHAQ (director)
21-08
full format · 21 days late
04-04
Gazette deed
Permanent representative: DRIESSENS Frédéric Francis GeorgesAppointment: 3R, Leboutte & Co (statutory auditor) · Auditor report · Capital increase17 points ▸
Gazette deed
Permanent representative: DRIESSENS Frédéric Francis Georges
Appointment: 3R, Leboutte & Co (statutory auditor) · Auditor report · Capital increase17 points ▸
- General meeting, 24-02-2022
- Other provision, 24-03-2023
- Auditor report, 24-03-2023
- Other provision, “rapport commissaire article 7:155 non nécessaire, rapport du conseil ne comprend aucune donnée financière ni comptable” (deed in French)
- Auditor report, “aucune constatation significative, description bien,évaluation,mode d'évaluation du projet de rapport spécial organe d'administration” (deed in French)
- Auditor report, “pas de faits laissant penser données non fidèles pour éclairer AG, justification prix insuffisante car fixée conventionnellement de commun accord” (deed in French)
- Other provision, “retard transmission rapport, aucun impact significatif sur contrôle” (deed in French)
- Other provision, “limitation utilisation rapport, augmentation capital par apport en nature” (deed in French)
- Other provision, “exemplaire de chaque rapport demeurera ci-annexé, connaissance rapports” (deed in French)
- Capital increase, €90,000
- Capital, €714,852
- Capital increase, €261,000
- The act holds 5 more points.
Show earlier events
2022
27-12
full format · 149 days late
01-03
Gazette deed
2 directors appointed, 4 reappointedReappointments: DERO-INVEST, BALTEAU GROUP and 2 others · Permanent representatives: DEROANNE Patrick, RIZZO Salvatore and 4 others · Appointments: SLD (administrateur de classe a) and SOCIETE WALLONNE DE GESTION ET DE PARTICIPATIONS (administrateur de classe b)22 points ▸
Gazette deed
2 directors appointed, 4 reappointed
Reappointments: DERO-INVEST, BALTEAU GROUP and 2 others · Permanent representatives: DEROANNE Patrick, RIZZO Salvatore and 4 others · Appointments: SLD (administrateur de classe a) and SOCIETE WALLONNE DE GESTION ET DE PARTICIPATIONS (administrateur de classe b)22 points ▸
- General meeting, 24-02-2022
- Other provision, 17-02-2022
- Auditor report, “commissaire”, 177 (deed in French)
- Capital increase, €388,055
- Capital increase, €450,000
- Capital decrease, €413,203
- Amendment of the articles
- Capital, €624,852
- Registered office clause, “4000 Liège,rue de l'Hippodrome,186, VI-ADRESSE DU SIEGE” (deed in French)
- Director reappointment, DERO-INVEST (administrateur de classe a)
- Director reappointment, BALTEAU GROUP (administrateur de classe a)
- Director reappointment, VANDEGAR TECHNICAL SERVICES (administrateur de classe a)
- The act holds 10 more points.
2021
31-12
Financial
Weakest financial yearnet -€692,028
The net result drops to -€692,028, the lowest from 2018 to 2025. It recovers the following year.
31-08
full format · 31 days late
2020
31-08
full format · 31 days late
2019
11-09
full format · 42 days late
2017
25-08
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
TECHNICAL DESIGN SYSTEM in French
Enterprise number
0679.973.364
Legal form
Public limited company
Status
Active, normale toestand
Founded
23-08-2017
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 01-03-2022 (in French)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Région Wallonne, sièges administratifs ou d’exploitation,succursales ou agences en Belgique ou à l’étranger ou suppression de la même…”
deed of 01-03-2022 (in French)Registered office and establishments
Registered office
Rue de l'Hippodrome 186, 4000 Liège, Belgium
Establishment unit
Rue de l'Hippodrome 186, 4000 Liège since 23-08-2017 · unit number 2.267.882.962
Activities
NACEBEL 2025VAT activities
71121
Engineering and related technical consultancy, excluding land surveyors main activity
31001
Manufacture of furniture
33200
Installation of industrial machinery and equipment
Social security (RSZ) activities
71121
Engineering and related technical consultancy, excluding land surveyors main activity
Codes under NACEBEL 2008
VAT activities
71121
Engineering activities main activity
31010
Manufacture of furniture
33200
Installation of industrial machinery and equipment
Social security (RSZ) activities
71121
Engineering activities main activity
Joint committees
111 Paritair Comité voor de metaal-, machine- en elektrische bouw
209 Paritair Comité voor de bedienden der metaalfabrikatennijverheid annual accounts 2025
Invoicing and payment
VAT number
BE 0679.973.364
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Second Thursday of April at 09:00
deed of 01-03-2022 (in French)Sites & property
Location