TECHNICAL SERVICES GROUP BELGIUM
ActiveSummary
TECHNICAL SERVICES GROUP BELGIUM has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10.78M and a net result of €8.21M. Equity is growing by ~18.5% per year across the filed fiscal years. Its solvency ranks better than 26% of 150 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
72
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability93▲+6
Solvency48▲+6
Growth69▼-1
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €750k at 30 days acceptable
Liquidity tight (current ratio 1.25 against 1.16 in 2024; short-term debt: 67.4% and cash: 31.9% of total assets), and 77.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 33
Relative position
BE, all sectors
reference
Sector 33
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
22.6%
Return on assets
17.3%
Age of the figures
17 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-04-2025 was due by 30-11-2025 and was filed on 27-11-2025, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
10 d late
2023
18 d late
2022
55 d late
2021
21 d late
2020
16 d late
2019
18 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-04-2026 and is due by 30-11-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-04-2026 close24-09-2026 today30-11-2026 deadline
Financials · fiscal year 2025, full schema
Turnover
€63.81M▲ 1.2%
2024 · €63.05M
2019: €45.75M
2020: €53.16M
2021: €48.20M
2023: €57.09M
2024: €63.05M
2019 → 2025
EBIT margin
17.4%▲ 2.5pp
2024 · 14.8%
2019: 5.5%
2020: 16.6%
2021: 16.1%
2023: 11.8%
2024: 14.8%
2019 → 2025
Net result
€8.21M▲ 20.1%
2024 · €6.84M
2019: €1.55M
2020: €6.00M
2021: €5.64M
2023: €3.88M
2024: €6.84M
2019 → 2025
Working capital
€8.06M▲ 55.0%
2024 · €5.20M
2019: €7.68M
2020: €8.96M
2021: €11.75M
2023: €3.48M
2024: €5.20M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202320242025Trend
Turnover€53.16M-€48.20M▼ 9.3%€57.09M▲ 18.4%€63.05M▲ 10.4%€63.81M▲ 1.2%
Equity€4.61M-€10.25M▲ 122%€4.52M▼ 55.9%€7.56M▲ 67.2%€10.78M▲ 42.5%
Operating result€8.82M-€7.78M▼ 11.8%€6.77M▼ 13.0%€9.36M▲ 38.3%€11.09M▲ 18.5%
Net result€6.00M-€5.64M▼ 6.0%€3.88M▼ 31.3%€6.84M▲ 76.4%€8.21M▲ 20.1%
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2025 is 18% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €47.58M
Fixed assets
€7.45M =
Current assets
€40.14M ▲ 5.8%
Equity and liabilities €47.58M
Equity
€10.78M ▲ 42.5%
Provisions
€382k ▼ 39.9%
Debt
€36.42M ▼ 2.1%
Debt's share of the balance-sheet total falls from 81.9% to 76.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€12.29M▲
2024 · €10.48M
Cash flow
€9.42M▲
2024 · €7.97M
Current ratio
1.25▲
2024 · 1.16
Quick ratio
1.04▲
2024 · 1.03
Debt to equity
3.38▼
2024 · 4.92
ROE
76.2%▼
2024 · 90.4%
ROA
17.3%▲
2024 · 15.1%
Interest coverage
79.49▲
2024 · 25.83
Debt ≤ 1 year
€32.08M▼
2024 · €32.75M
Debt > 1 year
€4.16M▼
2024 · €4.28M
Income taxes
€3.02M▲
2024 · €2.48M
Staff costs
€17.98M▲
2024 · €17.02M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 80 lines
Balance sheet
Code20242025
Assets
Total assets20/58€45.39M€47.58M▲
Fixed assets21/28€7.44M€7.45M=
Tangible fixed assets22/27€7.41M€7.41M▲
Land and buildings22€1.01M€974k▼
Plant, machinery and equipment23€132k€100k▼
Furniture and vehicles24€73k€99k▲
Leasing and similar rights25€6.19M€6.24M▲
Financial fixed assets28€40k€37k▼
Other financial fixed assets284/8€40k€37k▼
Amounts receivable and cash guarantees285/8€40k€37k▼
Current assets29/58€37.95M€40.14M▲
Stocks and contracts in progress3€4.33M€6.76M▲
Stocks30/36€4.33M€6.76M▲
Raw materials and consumables30/31€3.41M€6.26M▲
Finished goods33€921k€506k▼
Amounts receivable within one year40/41€14.77M€18.00M▲
Trade receivables40€12.05M€14.37M▲
Other amounts receivable41€2.72M€3.63M▲
Cash at bank and in hand54/58€18.64M€15.18M▼
Deferred charges and accrued income490/1€201k€196k▼
Equity and liabilities
Total equity and liabilities10/49€45.39M€47.58M▲
Equity10/15€7.56M€10.78M▲
Contributions10/11€1.86M€1.86M=
Capital10€1.86M€1.86M=
Issued capital100€1.86M€1.86M=
Reserves13€5.70M€8.92M▲
Non-distributable reserves130/1€189k€189k=
Legal reserve130€189k€189k=
Distributable reserves133€5.51M€8.73M▲
Provisions and deferred taxes16€636k€382k▼
Provisions for liabilities and charges160/5€636k€382k▼
Other liabilities and charges164/5€636k€382k▼
Amounts payable17/49€37.19M€36.42M▼
Amounts payable after more than one year17€4.28M€4.16M▼
Financial debts170/4€4.28M€4.16M▼
Leasing and similar obligations172€4.28M€4.16M▼
Amounts payable within one year42/48€32.75M€32.08M▼
Current portion of amounts payable after more than one year42€1.12M€1.17M▲
Trade debts44€14.89M€15.85M▲
Suppliers440/4€14.89M€15.85M▲
Advances received on contracts in progress46€4.79M€1.88M▼
Taxes, remuneration and social security45€8.15M€8.19M▲
Taxes450/3€4.66M€3.87M▼
Remuneration and social security454/9€3.49M€4.32M▲
Other amounts payable47/48€3.80M€5.00M▲
Accrued charges and deferred income492/3€166k€189k▲
Income statement
Code20242025
Operating income70/76A€63.54M€64.55M▲
Turnover70€63.05M€63.81M▲
Change in stocks of work in progress, finished goods and contracts in progress71€-622k€-414k▲
Other operating income74€994k€1.03M▲
Non-recurring operating income76A€123k€125k▲
Operating charges60/66A€54.19M€53.46M▼
Goods for resale, raw materials and consumables60€30.95M€29.40M▼
Purchases600/8€31.02M€31.51M▲
Change in stocks: decrease (increase)609€-71k€-2.11M▼
Services and other goods61€5.77M€6.17M▲
Remuneration, social security and pensions62€17.02M€17.98M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.13M€1.21M▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€319k€-1.05M▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€-1.00M€-254k▲
Other operating charges640/8€9k€9k▼
Operating profit (loss)9901€9.36M€11.09M▲
Financial income75/76B€370k€301k▼
Recurring financial income75€370k€301k▼
Other financial income752/9€370k€301k▼
Financial charges65/66B€406k€155k▼
Recurring financial charges65€406k€155k▼
Debt charges650€406k€155k▼
Profit (loss) for the period before taxes9903€9.32M€11.23M▲
Income taxes67/77€2.48M€3.02M▲
Taxes670/3€2.48M€3.02M▲
Profit (loss) for the period9904€6.84M€8.21M▲
Profit (loss) for the period to be appropriated9905€6.84M€8.21M▲
Appropriation of the result
Profit (loss) to be appropriated9906€6.84M€8.21M▲
Transfer to equity691/2€3.04M€3.21M▲
To other reserves6921€3.04M€3.21M▲
Profit to be distributed694/7€3.80M€5.00M▲
Return on contributions (dividend)694-€5.00M
Directors or managers695€3.80M-
Social balance
Average headcount (FTE)9087175.5178.3▲
The notes to these accounts (68 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
27-11
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
30-04
Financial
Highest result since 2019net €8.21M ▲20.1%
Operating result €11.09M, net result €8.21M, both a record.
30-04
Financial
Equity above €10MEq €10.78M ▲42.5%
6 profitable years in a row build equity to €10.78M.
2024
10-12
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 10 days late
30-04
Financial
Equity above €5MEq €7.56M ▲67.2%
5 profitable years in a row build equity to €7.56M.
2023
18-12
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 18 days late
24-01
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 55 days late
2021
21-12
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 21 days late
30-04
Financial
Equity above €10MEq €10.25M ▲122%
3 profitable years in a row build equity to €10.25M.
2020
16-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 16 days late
2019
18-12
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 18 days late
2018
28-11
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
28-11
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
01-12
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 1 day late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
18 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, Turnhout · 1 establishment unit since 2015
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Treskesdijk 72300 TurnhoutGround area
8,704 m²
Building footprint
3,084 m²
Volume, LiDAR
6 m³
Parcel 13452M0798/00A000, Flanders · tallest building 0.3 m. Linked by address, not a title deed.
1 establishment unit
TECHNICAL SERVICES GROUP BELGIUM
since 20152.248.904.022
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13452M0798/00A000 | Flanders | 8,704 m² | 1 · 3,084 m² | 0.3 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 · 2 entries · 18,813 EUR awarded · 18,813 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 2 | 18,813 EUR | 18,813 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Vlaams opleidingsverlof (VOV)
Recognitions · licences · registrations
Recognised contractor
9 categoriesTECHNICAL SERVICES GROUP BELGIUM NV41364
Legal Entity Identifier
894500DA88NSZSW48H60
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Of 1,225 companies in sector 33200 we hold annual accounts for 676. 87 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded10-11-2015
Fiscal year end30-04
Abbreviation NL
TSG BELGIUM
Activities, NACEBEL 2025
33200Installation of industrial machinery and equipment
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.