TechTon
ActiveFinancials · financial year 2024, abbreviated format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 3 November 2026.
Annual accounts 2024 filed on 19-09-2025 PDF all 14 filings
Equity
€21,104▼ 73.2%
2023 · €78,771
Total assets
€346,941▲ 4.4%
2023 · €332,395
Net result
-€57,667▼ 1,046%
2023 · -€5,034
Working capital
€66,565▼ 27.7%
2023 · €92,105
Multi-year overview
2018 to 2024, 7 financial yearsOperating result
-€55,487
▼ 14,786%
2024
20182024
Net result
-€57,667
▼ 1,046%
2024
lowest quarter of the sector
20182024
Equity
€21,104
▼ 73.2%
2024
lowest quarter of the sector
20182024
Total assets
€346,941
▲ 4.4%
2024
lowest quarter of the sector
20182024
Debt
€325,837
▲ 28.5%
2024
20182024
Working capital
€66,565
▼ 27.7%
2024
middle half of the sector
20182024
Solvency
6.1%
▼ 17.6pp
2024
lowest quarter of the sector
20182024
Current ratio
1.24
▼ 0.15
2024
middle half of the sector
20182024
Return on assets (ROA)
-16.6%
▼ 15.1pp
2024
lowest quarter of the sector
20182024
Staff (FTE)
no figure
2024
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result€62,403-€35,649▼ 42.9%€44,947▲ 26.1%€66,884▲ 48.8%-€11,582-€373▲ 96.8%-€55,487▼ 14,786%
Net result€53,400-€38,224▼ 28.4%€37,146within the sector's middle half▼ 2.8%€44,799within the sector's middle half▲ 20.6%-€14,043below the sector's middle half-€5,034below the sector's middle half▲ 64.2%-€57,667below the sector's middle half▼ 1,046%
Equity€97,569-€105,793▲ 8.4%€105,939within the sector's middle half▲ 0.1%€123,703within the sector's middle half▲ 16.8%€105,805below the sector's middle half▼ 14.5%€78,771below the sector's middle half▼ 25.6%€21,104below the sector's middle half▼ 73.2%
Total assets€313,402-€327,559▲ 4.5%€339,377below the sector's middle half▲ 3.6%€324,005below the sector's middle half▼ 4.5%€270,454below the sector's middle half▼ 16.5%€332,395below the sector's middle half▲ 22.9%€346,941below the sector's middle half▲ 4.4%
Debt€215,833-€221,766▲ 2.7%€233,437▲ 5.3%€200,301▼ 14.2%€164,649▼ 17.8%€253,624▲ 54.0%€325,837▲ 28.5%
Working capital€97,658-€94,561▼ 3.2%€90,771within the sector's middle half▼ 4.0%€119,397within the sector's middle half▲ 31.5%€115,212within the sector's middle half▼ 3.5%€92,105within the sector's middle half▼ 20.1%€66,565within the sector's middle half▼ 27.7%
Solvency31.1%-32.3%▲ 1.2pp31.2%within the sector's middle half▼ 1.1pp38.2%within the sector's middle half▲ 7.0pp39.1%within the sector's middle half▲ 0.9pp23.7%below the sector's middle half▼ 15.4pp6.1%below the sector's middle half▼ 17.6pp
Current ratio1.45-1.43▼ 0.031.39within the sector's middle half▼ 0.041.62within the sector's middle half▲ 0.241.79within the sector's middle half▲ 0.171.39within the sector's middle half▼ 0.401.24within the sector's middle half▼ 0.15
Return on assets (ROA)17.0%-11.7%▼ 5.4pp10.9%within the sector's middle half▼ 0.7pp13.8%above the sector's middle half▲ 2.9pp-5.2%below the sector's middle half▼ 19.0pp-1.5%below the sector's middle half▲ 3.7pp-16.6%below the sector's middle half▼ 15.1pp
Staff (FTE)11below the sector's middle half=0.4below the sector's middle half▼ 60.0%0.9below the sector's middle half▲ 125%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 2024 is a loss of €55,487, larger than the loss of €373 in 2023. It is the lowest result since 2020.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €346,941
Fixed assets
€1,460 ▼ 68.9%
Current assets
€345,481 ▲ 5.4%
Equity and liabilities €346,941
Equity
€21,104 ▼ 73.2%
Debt
€325,837 ▲ 28.5%
Debt's share of the balance-sheet total rises from 76.3% to 93.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€52,252▼
2023 · €3,502
Cash flow
-€54,433▼
2023 · -€1,160
Quick ratio
1.22▼
2023 · 1.36
Debt to equity
15.44▲
2023 · 3.22
ROE
-273.3%▼
2023 · -6.4%
Interest coverage
-9.99▼
2023 · 0.71
Debt ≤ 1 year
€278,915▲
2023 · €235,596
Debt > 1 year
€46,921▲
2023 · €18,029
Staff costs
€3,209▲
2023 · -€1,297
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 |
|---|---|---|
| Employees at the balance-sheet date | 1 | - |
| part-time | 1 | - |
| in full-time equivalents | 0.4 | - |
| Average over the year, in full-time equivalents | 0.8 | 0.9 |
| On a permanent contract | 1 | - |
| Joined | 0 | 1 |
| Left | 1 | 2 |
Source: social balance sheet in the 2021 to 2022 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | €24,900 | €2,613 | - | - |
| Depreciation and write-downs of the year | €3,316 | €4,528 | €3,875 | €3,235 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €23,408 | - | €2,317 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €50,485 | €44,983 | -€1,297 | €3,209 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,120 | €4,283 | €4,613 | €3,316 | €4,528 | €3,875 | €3,235 | ▼ 16.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €8,560 | - | €20,148 | - | - |
| Other operating charges640/8 | - | - | - | €524 | €15,386 | €634 | €987 | ▲ 55.6% |
| Non-recurring operating charges66A | - | - | - | - | - | €2,579 | - | - |
| Gross operating margin9900 | €66,485 | €93,115 | €95,611 | €129,769 | €53,316 | €25,566 | -€48,057 | - |
| Operating profit (loss)9901 | €62,403 | €35,649 | €44,947 | €66,884 | -€11,582 | -€373 | -€55,487 | ▼ 14,786% |
| Financial income75/76B | - | - | - | €7,246 | €1,532 | €1,661 | €3,050 | ▲ 83.6% |
| Recurring financial income75 | €3,241 | €22,614 | €4,174 | €7,246 | €1,532 | €1,661 | €3,050 | ▲ 83.6% |
| Financial charges65/66B | - | - | - | €3,272 | €3,993 | €4,930 | €5,230 | ▲ 6.1% |
| Recurring financial charges65 | €2,427 | €1,516 | €2,555 | €3,272 | €3,993 | €4,930 | €5,230 | ▲ 6.1% |
| Profit (loss) for the period before taxes9903 | €63,217 | €56,747 | €46,566 | €70,857 | -€14,043 | -€3,642 | -€57,667 | ▼ 1,484% |
| Income taxes67/77 | €9,817 | €18,523 | €9,420 | €26,058 | - | €1,392 | - | - |
| Profit (loss) for the period9904 | €53,400 | €38,224 | €37,146 | €44,799 | -€14,043 | -€5,034 | -€57,667 | ▼ 1,046% |
| Profit (loss) for the period to be appropriated9905 | €53,400 | €38,224 | €37,146 | €44,799 | -€14,043 | -€5,034 | -€57,667 | ▼ 1,046% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €313,402 | €327,559 | €339,377 | €324,005 | €270,454 | €332,395 | €346,941 | ▲ 4.4% |
| Fixed assets21/28 | €769 | €11,232 | €15,169 | €13,245 | €9,530 | €4,694 | €1,460 | ▼ 68.9% |
| Tangible fixed assets22/27 | €688 | €11,133 | €15,070 | €13,245 | €9,530 | €4,694 | €1,460 | ▼ 68.9% |
| Plant, machinery and equipment23 | - | - | - | €10,297 | €7,216 | €3,951 | €1,369 | ▼ 65.4% |
| Furniture and vehicles24 | - | - | - | €2,948 | €2,314 | €743 | €91 | ▼ 87.7% |
| Financial fixed assets28 | €81 | €99 | €99 | - | - | - | - | - |
| Current assets29/58 | €312,633 | €316,327 | €324,208 | €310,760 | €260,924 | €327,701 | €345,481 | ▲ 5.4% |
| Amounts receivable after more than one year29 | - | - | - | €47,185 | €53,347 | €90,721 | €85,946 | ▼ 5.3% |
| Other amounts receivable291 | - | - | - | €47,185 | €53,347 | €90,721 | €85,946 | ▼ 5.3% |
| Stocks and contracts in progress3 | €7,982 | €6,520 | €9,763 | €8,631 | €9,877 | €8,215 | €6,351 | ▼ 22.7% |
| Stocks30/36 | - | - | - | €8,631 | €9,877 | €8,215 | €6,351 | ▼ 22.7% |
| Amounts receivable within one year40/41 | €220,200 | €217,439 | €228,786 | €223,282 | €184,856 | €227,170 | €251,089 | ▲ 10.5% |
| Trade receivables40 | - | - | - | €206,724 | €179,922 | €179,073 | €181,424 | ▲ 1.3% |
| Other amounts receivable41 | - | - | - | €16,558 | €4,935 | €48,098 | €69,665 | ▲ 44.8% |
| Cash at bank and in hand54/58 | €2,830 | €1,650 | €19,580 | €30,909 | €11,700 | €1,594 | €1 | ▼ 99.9% |
| Deferred charges and accrued income490/1 | - | - | - | €752 | €1,144 | - | €2,095 | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €313,402 | €327,559 | €339,377 | €324,005 | €270,454 | €332,395 | €346,941 | ▲ 4.4% |
| Equity10/15 | €97,569 | €105,793 | €105,939 | €123,703 | €105,805 | €78,771 | €21,104 | ▼ 73.2% |
| Contributions10/11 | €30,000 | €30,000 | - | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Contributions outside capital11 | - | - | - | €30,000 | - | - | - | - |
| Other1109/19 | - | - | - | €30,000 | - | - | - | - |
| Reserves13 | €67,569 | €75,793 | €75,939 | €93,703 | €75,805 | €48,771 | €48,771 | = |
| Non-distributable reserves130/1 | - | - | - | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Reserves not available under the articles1311 | - | - | - | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Distributable reserves133 | - | - | - | €90,703 | €72,805 | €45,771 | €45,771 | = |
| Profit (loss) carried forward14 | - | - | - | - | - | - | -€57,667 | - |
| Amounts payable17/49 | €215,833 | €221,766 | €233,437 | €200,301 | €164,649 | €253,624 | €325,837 | ▲ 28.5% |
| Amounts payable after more than one year17 | €858 | - | - | €8,939 | €18,937 | €18,029 | €46,921 | ▲ 160% |
| Other amounts payable178/9 | - | - | - | €8,939 | €18,937 | €18,029 | €46,921 | ▲ 160% |
| Amounts payable within one year42/48 | €214,975 | €221,766 | €233,437 | €191,362 | €145,712 | €235,596 | €278,915 | ▲ 18.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | €20,110 | €3,383 | ▼ 83.2% |
| Financial debts43 | - | - | - | - | - | €2 | €17,421 | ▲ 11,313× |
| Credit institutions430/8 | - | - | - | - | - | €2 | €17,421 | ▲ 11,313× |
| Trade debts44 | €166,564 | €168,779 | €183,280 | €162,137 | €106,263 | €193,041 | €250,382 | ▲ 29.7% |
| Suppliers440/4 | - | - | - | €162,137 | €106,263 | €193,041 | €250,382 | ▲ 29.7% |
| Taxes, remuneration and social security45 | - | - | - | €29,225 | €39,449 | €7,043 | €6,939 | ▼ 1.5% |
| Taxes450/3 | - | - | - | €26,707 | €30,550 | €7,043 | €6,939 | ▼ 1.5% |
| Remuneration and social security454/9 | - | - | - | €2,518 | €8,899 | - | - | - |
| Other amounts payable47/48 | - | - | - | - | - | €15,400 | €791 | ▼ 94.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €53,400 | €38,224 | €37,146 | €44,799 | -€14,043 | -€5,034 | -€57,667 | ▼ 1,046% |
| + Depreciation and write-downs630 | €1,120 | €4,283 | €4,613 | €3,316 | €4,528 | €3,875 | €3,235 | ▼ 16.5% |
| Operating cash flow (approximation) | €54,520 | €42,507 | €41,759 | €48,115 | -€9,515 | -€1,160 | -€54,433 | ▼ 4,594% |
| Investment in fixed assets (approximation) | - | -€14,746 | -€8,550 | -€1,392 | -€813 | €961 | €0 | ▼ 100% |
| Change in cash | - | -€1,180 | €17,929 | €11,330 | -€19,210 | -€10,106 | -€1,593 | ▲ 84.2% |
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, 642 companies had the same profile as TechTon has now. Two years later, 89.7% were still going and 3.6% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency under 10%
- a loss of 10% of the balance sheet or more
89.7%
was still going
5.5%
stopped otherwise
3.6%
went bankrupt
Another 1.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of TechTon itself is higher: 10.1% within 12 months. It rests on far more data about TechTon than the profile alone.
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 642 companies, not a prediction for TechTon. 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 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | abbreviated format | 19-09-2025 | 2025-00495734 | |
| 31-12-2023 | abbreviated format | 27-09-2024 | 2024-00475115 | |
| 31-12-2022 | abbreviated format | 24-07-2023 | 2023-00262144 | |
| 31-12-2021 | abbreviated format | 30-09-2022 | 2022-20443015 | |
| 31-12-2020 | abbreviated format | 08-06-2021 | 2021-17800047 | |
| 31-12-2019 | abbreviated format | 30-07-2020 | 2020-35800428 | |
| 31-12-2018 | abbreviated format | 30-08-2019 | 2019-55100037 | |
| 31-12-2017 | abbreviated format | 31-08-2018 | 2018-57800043 | |
| 31-12-2016 | abbreviated format | 31-08-2017 | 2017-52400016 | |
| 31-12-2015 | abbreviated format | 29-08-2016 | 2016-47000555 |