TECHNICAL MAINTENANCE SERVICES
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 30-07-2026 at the NBB all 30 filings
Turnover
≈ €20.0m
Estimated: probably between €13.0m and €33.0m
EBIT margin
Not included in this filing
Net result
€1.1m▲ 30.7%
2024 · €814,245
Working capital
€1.8m▲ 10.2%
2024 · €1.6m
In the rankings
#1 employer in Hainaut, Repair and installation of machinery sector#1 company by staff growth in Fleurus#3 company by total assets in Hainaut, Repair and installation of machinery sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€1.6m
▲ 38.6%
2025
20182025
Net result
€1.1m
▲ 30.7%
2025
highest quarter of the sector
20182025
Equity
€2.5m
▲ 74.2%
2025
highest quarter of the sector
20182025
Total assets
€9.7m
▲ 1.8%
2025
highest quarter of the sector
20182025
Debt
€7.2m
▼ 11.1%
2025
20182025
Working capital
€1.8m
▲ 10.2%
2025
highest quarter of the sector
20182025
Solvency
25.9%
▲ 10.7pp
2025
middle half of the sector
20182025
Current ratio
1.31
▲ 0.04
2025
middle half of the sector
20182025
Return on assets (ROA)
11.0%
▲ 2.4pp
2025
middle half of the sector
20182025
Staff (FTE)
152.2
▲ 47.9%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€1.0m-€1.4m▲ 37.4%€2.5m▲ 74.4%€1.0m▼ 60.2%€1.7m▲ 73.1%€1.6m▼ 7.9%€1.2m▼ 23.7%€1.6m▲ 38.6%
Net result€0.7m-€1.0m▲ 38.1%€1.9mabove the sector's middle half▲ 90.4%€0.7mabove the sector's middle half▼ 61.2%€1.3mabove the sector's middle half▲ 78.5%€1.1mabove the sector's middle half▼ 11.1%€0.8mabove the sector's middle half▼ 29.2%€1.1mabove the sector's middle half▲ 30.7%
Equity€1.1m-€1.4m▲ 33.3%€1.4mabove the sector's middle half▲ 0.1%€1.4mabove the sector's middle half=€2.7mabove the sector's middle half▲ 91.1%€1.4mwithin the sector's middle half▼ 47.3%€1.4mwithin the sector's middle half▲ 0.3%€2.5mabove the sector's middle half▲ 74.2%
Total assets€3.2m-€3.6m▲ 12.3%€5.0mabove the sector's middle half▲ 35.9%€4.3mwithin the sector's middle half▼ 13.7%€4.1mwithin the sector's middle half▼ 3.2%€4.1mwithin the sector's middle half▼ 0.5%€9.5mabove the sector's middle half▲ 130%€9.7mabove the sector's middle half▲ 1.8%
Debt€2.2m-€2.2m▲ 2.1%€3.5m▲ 58.7%€2.9m▼ 19.2%€1.4m▼ 50.0%€2.7m▲ 88.2%€8.1m▲ 199%€7.2m▼ 11.1%
Working capital€1.2m-€1.7m▲ 45.8%€1.4mabove the sector's middle half▼ 14.8%€1.4mabove the sector's middle half▲ 0.4%€2.6mabove the sector's middle half▲ 82.8%€1.3mabove the sector's middle half▼ 50.9%€1.6mabove the sector's middle half▲ 26.8%€1.8mabove the sector's middle half▲ 10.2%
Solvency32.8%-38.9%▲ 6.1pp28.6%within the sector's middle half▼ 10.2pp33.2%within the sector's middle half▲ 4.5pp65.5%above the sector's middle half▲ 32.3pp34.7%within the sector's middle half▼ 30.8pp15.1%below the sector's middle half▼ 19.6pp25.9%within the sector's middle half▲ 10.7pp
Current ratio1.56-1.87▲ 0.311.43within the sector's middle half▼ 0.451.54within the sector's middle half▲ 0.112.98above the sector's middle half▲ 1.451.49within the sector's middle half▼ 1.491.27within the sector's middle half▼ 0.221.31within the sector's middle half▲ 0.04
Return on assets (ROA)21.8%-26.8%▲ 5.0pp37.6%above the sector's middle half▲ 10.8pp16.9%above the sector's middle half▼ 20.7pp31.2%above the sector's middle half▲ 14.3pp27.9%above the sector's middle half▼ 3.3pp8.6%within the sector's middle half▼ 19.3pp11.0%within the sector's middle half▲ 2.4pp
Staff (FTE)56.1-62.1▲ 10.7%62.7above the sector's middle half▲ 1.0%71.3above the sector's middle half▲ 13.7%75.4above the sector's middle half▲ 5.8%73.1above the sector's middle half▼ 3.1%102.9above the sector's middle half▲ 40.8%152.2above the sector's middle half▲ 47.9%
above
within
below
The sector band is the middle half of the companies in Repair, maintenance and installation of machinery and equipment (NACE 33). 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 39% higher than in 2024. It is a recovery after the fall in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.7m
Fixed assets
€2.0m ▲ 16.7%
Current assets
€7.7m ▼ 1.5%
Equity and liabilities €9.7m
Equity
€2.5m ▲ 74.2%
Debt
€7.2m ▼ 11.1%
Debt's share of the balance-sheet total falls from 84.9% to 74.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€2.2m▲
2024 · €1.4m
Cash flow
€1.6m▲
2024 · €1.1m
Quick ratio
0.98▼
2024 · 1.02
Debt to equity
2.87▼
2024 · 5.62
ROE
42.6%▼
2024 · 56.7%
Interest coverage
15.68▼
2024 · 20.35
Debt ≤ 1 year
€5.9m▼
2024 · €6.1m
Debt > 1 year
€1.1m▼
2024 · €1.3m
Income taxes
€451,112▲
2024 · €316,822
Staff costs
€9.3m▲
2024 · €6.0m
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 | 78 | 71 | 74 | 148 | 163 |
| full-time | 77 | 70 | 73 | 140 | 151 |
| part-time | 1 | 1 | 1 | 8 | 12 |
| in full-time equivalents | 77.1 | 70.1 | 73.1 | 144.9 | 159.2 |
| Average over the year, in full-time equivalents | 71.3 | 75.4 | 72.5 | 102.9 | 152.2 |
| On a permanent contract | 70 | 69 | 73 | 145 | 163 |
| Joined | 26 | 20 | 20 | 107 | 28 |
| Left | 12 | 27 | 17 | 32 | 13 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €54,327 | - | - | - | - |
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 | €82,096 | €118,030 | €89,605 | €1.9m | €812,312 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €86,102 | €89,836 | €80,734 | €239,690 | €513,603 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Public contracts
3 awards · 2025 to 2026
CDA 2026-004 - ACCORD-CADRE DE SERVICES (ACCOMPAGNÉS DE FOURNITURES CONNEXES) AYANT POUR OBJET LA MAINTENANCE D’INSTALLATIONS HYDRAULIQUES, Y-COMPRIS L’INTERVENTION EN URGENCE: CDA 2026-004 - LOT 01 : Maintenance et réparation d'équipements hydrauliques ou de composants de machines, y-compris l'intervention en urgence
CDA 2024-012 - ACCORD-CADRE DE SERVICES (ACCOMPAGNÉS DE FOURNITURES CONNEXES) AYANT POUR OBJET L’ASSISTANCE EN MÉCANIQUE DE PRÉCISION, Y-COMPRIS L’INTERVENTION EN URGENCE: CDA 2024-012 - MECANIQUE DE PRECISION - 1
CDA 2025-002 - ACCORD-CADRE DE SERVICES (ACCOMPAGNÉS DE FOURNITURES CONNEXES) AYANT POUR OBJET L’ASSISTANCE EN MONTAGE ET SOUDAGE, Y-COMPRIS L’INTERVENTION EN URGENCE: CDA 2025-002 - MONTAGE-SOUDAGE - 1
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.002m | €0.008m | €457 | €0.008m | €0.02m | ▲ 157% |
| Remuneration, social security and pensions62 | - | - | - | €3.5m | €4.1m | €3.9m | €6.0m | €9.3m | ▲ 54.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.01m | €0.02m | €0.05m | €0.09m | €0.09m | €0.08m | €0.2m | €0.5m | ▲ 114% |
| Other operating charges640/8 | - | - | - | €0.01m | €0.009m | €0.01m | €0.04m | €0.08m | ▲ 96.6% |
| Non-recurring operating charges66A | - | - | - | €0.03m | €0.001m | - | €0.03m | €0.008m | ▼ 73.9% |
| Gross operating margin9900 | €3.1m | €4.4m | €5.1m | €4.6m | €5.9m | €5.6m | €7.5m | €11.6m | ▲ 53.5% |
| Operating profit (loss)9901 | €1.0m | €1.4m | €2.5m | €1.0m | €1.7m | €1.6m | €1.2m | €1.6m | ▲ 38.6% |
| Financial income75/76B | - | - | - | €0.001m | €0.009m | €0.03m | €0.01m | €0.006m | ▼ 55.2% |
| Recurring financial income75 | €200 | €34 | €0.001m | €0.001m | €0.001m | €0.01m | €0.01m | €0.006m | ▼ 55.2% |
| Non-recurring financial income76B | - | - | - | - | €0.009m | €0.02m | €0 | - | - |
| Financial charges65/66B | - | - | - | €0.005m | €0.005m | €0.008m | €0.07m | €0.1m | ▲ 96.4% |
| Recurring financial charges65 | €0.002m | €0.004m | €0.005m | €0.005m | €0.005m | €0.008m | €0.07m | €0.1m | ▲ 96.4% |
| Profit (loss) for the period before taxes9903 | €1.0m | €1.4m | €2.5m | €1.0m | €1.7m | €1.6m | €1.1m | €1.5m | ▲ 34.0% |
| Income taxes67/77 | €0.3m | €0.4m | €0.6m | €0.2m | €0.4m | €0.4m | €0.3m | €0.5m | ▲ 42.4% |
| Profit (loss) for the period9904 | €0.7m | €1.0m | €1.9m | €0.7m | €1.3m | €1.1m | €0.8m | €1.1m | ▲ 30.7% |
| Profit (loss) for the period to be appropriated9905 | €0.7m | €1.0m | €1.9m | €0.7m | €1.3m | €1.1m | €0.8m | €1.1m | ▲ 30.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €3.2m | €3.6m | €5.0m | €4.3m | €4.1m | €4.1m | €9.5m | €9.7m | ▲ 1.8% |
| Fixed assets21/28 | €0.05m | €0.05m | €0.2m | €0.2m | €0.2m | €0.2m | €1.7m | €2.0m | ▲ 16.7% |
| Tangible fixed assets22/27 | €0.05m | €0.05m | €0.2m | €0.2m | €0.2m | €0.2m | €1.7m | €2.0m | ▲ 16.7% |
| Plant, machinery and equipment23 | - | - | - | €0.07m | €0.04m | €0.05m | €0.8m | €0.9m | ▲ 16.7% |
| Furniture and vehicles24 | - | - | - | €0.1m | €0.1m | €0.1m | €0.4m | €0.5m | ▲ 36.6% |
| Leasing and similar rights25 | - | - | - | - | - | - | €0.2m | €0.1m | ▼ 37.3% |
| Other tangible fixed assets26 | - | - | - | €0.002m | €0.002m | €0.003m | €0.4m | €0.4m | ▲ 15.5% |
| Assets under construction and advance payments27 | - | - | - | - | - | - | - | €0.05m | - |
| Financial fixed assets28 | €0.002m | €0.002m | €0.002m | €0.002m | - | - | - | - | - |
| Current assets29/58 | €3.2m | €3.6m | €4.8m | €4.1m | €4.0m | €3.9m | €7.8m | €7.7m | ▼ 1.5% |
| Stocks and contracts in progress3 | - | - | - | €1.0m | €0.7m | €0.4m | €1.5m | €1.9m | ▲ 26.2% |
| Contracts in progress37 | - | - | - | €1.0m | €0.7m | €0.4m | €1.5m | €1.9m | ▲ 26.2% |
| Amounts receivable within one year40/41 | €2.3m | €1.9m | €2.6m | €1.8m | €2.5m | €2.6m | €5.8m | €5.1m | ▼ 12.2% |
| Trade receivables40 | - | - | - | €1.6m | €2.3m | €2.5m | €5.6m | €5.0m | ▼ 11.5% |
| Other amounts receivable41 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 30.5% |
| Current investments50/53 | €0.07m | €0.1m | €0.04m | €0.05m | €0.01m | €0.005m | €0.02m | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €0.7m | €1.4m | €1.9m | €1.1m | €0.7m | €0.8m | €0.4m | €0.6m | ▲ 68.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0.09m | €0.02m | €0.05m | €0.05m | €0.02m | ▼ 61.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €3.2m | €3.6m | €5.0m | €4.3m | €4.1m | €4.1m | €9.5m | €9.7m | ▲ 1.8% |
| Equity10/15 | €1.1m | €1.4m | €1.4m | €1.4m | €2.7m | €1.4m | €1.4m | €2.5m | ▲ 74.2% |
| Contributions10/11 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Contributions outside capital11 | - | - | - | €0.02m | €0.02m | - | - | - | - |
| Other1109/19 | - | - | - | €0.02m | €0.02m | - | - | - | - |
| Reserves13 | €0.7m | €1.0m | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | ▲ 0.3% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Distributable reserves133 | - | - | - | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | ▲ 0.3% |
| Profit (loss) carried forward14 | €0.4m | €0.4m | €0.001m | €479 | €1.3m | €0.01m | €0.004m | €1.1m | ▲ 251× |
| Amounts payable17/49 | €2.2m | €2.2m | €3.5m | €2.9m | €1.4m | €2.7m | €8.1m | €7.2m | ▼ 11.1% |
| Amounts payable after more than one year17 | - | - | €0.05m | €0.05m | €0.08m | €0.06m | €1.3m | €1.1m | ▼ 15.3% |
| Financial debts170/4 | - | - | - | €0.05m | €0.08m | €0.06m | €1.3m | €1.1m | ▼ 15.3% |
| Amounts payable within one year42/48 | €2.0m | €1.9m | €3.4m | €2.7m | €1.3m | €2.6m | €6.1m | €5.9m | ▼ 4.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.05m | €0.05m | €0.4m | €0.4m | ▲ 15.9% |
| Financial debts43 | - | - | - | €0.03m | €0.02m | €0.02m | €0.03m | €0.1m | ▲ 248% |
| Credit institutions430/8 | - | - | - | €0.03m | €0.02m | €0.02m | €0.03m | €0.1m | ▲ 248% |
| Trade debts44 | €0.7m | €0.7m | €0.8m | €0.7m | €0.9m | €1.0m | €2.6m | €2.7m | ▲ 4.6% |
| Suppliers440/4 | - | - | - | €0.7m | €0.9m | €1.0m | €2.6m | €2.7m | ▲ 4.6% |
| Taxes, remuneration and social security45 | - | - | - | €0.7m | €0.3m | €0.4m | €0.9m | €1.1m | ▲ 32.2% |
| Taxes450/3 | - | - | - | €0.3m | - | €0.03m | €0.08m | €0.1m | ▲ 29.3% |
| Remuneration and social security454/9 | - | - | - | €0.4m | €0.3m | €0.4m | €0.8m | €1.0m | ▲ 32.5% |
| Other amounts payable47/48 | - | - | - | €1.2m | €26 | €1.2m | €2.3m | €1.5m | ▼ 35.1% |
| Accrued charges and deferred income492/3 | - | - | - | €0.1m | €0.03m | €0.005m | €0.6m | €0.2m | ▼ 65.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.7m | €1.0m | €1.9m | €0.7m | €1.3m | €1.1m | €0.8m | €1.1m | ▲ 30.7% |
| + Depreciation and write-downs630 | €0.01m | €0.02m | €0.05m | €0.09m | €0.09m | €0.08m | €0.2m | €0.5m | ▲ 114% |
| Operating cash flow (approximation) | €0.7m | €1.0m | €1.9m | €0.8m | €1.4m | €1.2m | €1.1m | €1.6m | ▲ 49.7% |
| Investment in fixed assets (approximation) | - | -€0.02m | -€0.2m | -€0.08m | -€0.1m | -€0.09m | -€1.8m | -€0.8m | ▲ 54.4% |
| Change in cash | - | €0.7m | €0.5m | -€0.7m | -€0.5m | €0.1m | -€0.4m | €0.2m | - |
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, 378 companies had the same profile as TECHNICAL MAINTENANCE SERVICES has now. Two years later, 97.4% were still going and 0.3% had gone bankrupt.
- Medium-sized
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
97.4%
was still going
2.4%
stopped otherwise
0.3%
went bankrupt
That fits the bankruptcy probability of TECHNICAL MAINTENANCE SERVICES itself: 0.5% 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 378 companies, not a prediction for TECHNICAL MAINTENANCE SERVICES. 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.
Latest 10 of 30 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 30-07-2026 | 2026-00371506 | |
| 31-12-2024 | full format | 08-07-2025 | 2025-00250586 | |
| 31-12-2023 | full format | 28-06-2024 | 2024-00197055 | |
| 31-12-2022 | full format | 30-06-2023 | 2023-00193421 | |
| 31-12-2021 | full format | 16-08-2022 | 2022-20292313 | |
| 31-12-2020 | full format | 07-07-2021 | 2021-32200155 | |
| 31-12-2019 | full format | 20-08-2020 | 2020-43000244 | |
| 31-12-2018 | full format | 25-07-2019 | 2019-37800336 | |
| 31-03-2018 | full format | 06-10-2018 | 2018-68800438 | |
| 31-03-2017 | full format | 31-10-2017 | 2017-68800106 |