Equity
€1.6m ▼ 3.6%
TEGARO paid out €124,286 in dividends. That is 188% of the 2025 profit.
TEGARO
Lifetime
19 annual accounts with figures on one time axis, 32 filings since 1994peak €294,383 (2024)
€186,021▼ 36.8%
lowest -€14,599 (2016)
€66,138▼ 60.3%
peak €1.6m (2024)
€1.6m▼ 3.6%
€774,355▲ 8.3%
peak 0 FTE (2023)
0 FTE
Board6 names since 2017
5 directorsAK P&M and 4 others
Documentsfilings and deeds
08-04-202622 days before the deadline
2025financial year
Gross margin from €294,383 to €186,021Result from €166,499 to €66,138Dividend €124,286
Key points
from the 2025 annual accountsResult
€66,138 ▼ 60.3%
The result fell in 2025: the 2024 profit included a one-off income of €170,242.
Turnover
≈ €250,000 estimated
The accounts state no turnover.
Liquidity
2.02 was 4.18 in 2024
Short-term debts rose from €134,492 to €273,275.
Filings
32 annual accounts since 1994
The last five annual accounts were filed 1 to 58 days before the end of the period.
Board
2 joined · 1 left
Board changed. Latest change 22-05-2026 · 4 in office.
Checked score
96
Excellent
Financially stronger than 69% of small companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 6,995 companies (NACE 68, small).
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%▲ +0.1 percentage points vs 03-2025highest value
05-2025: < 0.1%▼ -0.1 percentage points vs 04-2025lowest value
06-2025: < 0.1%● unchanged vs 05-2025lowest value
07-2025: < 0.1%● unchanged vs 06-2025lowest value
08-2025: < 0.1%● unchanged vs 07-2025lowest value
09-2025: < 0.1%● unchanged vs 08-2025lowest value
10-2025: < 0.1%● unchanged vs 09-2025lowest value
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
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%▲ +0.1 percentage points vs 03-2026
05-2026: < 0.1%▼ -0.1 percentage points vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged 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
Financial strengthStrong
Score breakdown
lowers risk
Size: total assets €2.5m
Figures for financial year 2025 (filed on 08-04-2026)
Equity €1.6m (63.6% of total assets)
Legal form: public limited company
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 68, small). It does better than 77% of them on solvency, 90% on liquidity, 78% on profitability and 31% on growth.
The bankruptcy probability was computed on 10-11-2026 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.
The probability rests on the annual accounts with balance sheet date 30-09-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 14,766 companies had the same profile as TEGARO has now. Each dot stands for 37 companies, two years later.
96.2%
were still trading
3.5%
stopped another way
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of TEGARO itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,448 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 14,766 companies, not a prediction for TEGARO. 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.
Credit verdict
Credit of up to €140,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.02 (4.18 in 2024), above the usual 1.5. Short-term debt is 11.1% and cash 11.7% of total assets. 36.4% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
5 signals, none raises the risk
Five signals.
lowers riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 08-04-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 days early
2024
1 day early
2023
7 days early
2022
58 days early
2021
2 days early
2020
36 days early
2019
on the day
← 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 18 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 24 April (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end11-11-2026 today30-04-2027 deadline
Recent changes
2 directors appointed, 2 resignations
Resignations: Andrea Klüttgens (director) and Christoph Klüttgens (director) · Appointments: AK P&M (director) and CK P&M (director) · Permanent representatives: Andrea Klüttgens and Christoph Klüttgens · General meeting of 31-03-2026 · Gazette deed
3 directors appointed, 3 reappointments
Reappointments: Siegfried KLÜTTGENS, Christoph KLÜTTGENS and Andrea KLÜTTGENS · Appointments: Siegfried KLÜTTGENS (chair of the board), Christoph KLÜTTGENS (managing director) and Andrea KLÜTTGENS (managing director) · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0453394826
3 directors appointed
Siegfried Klüttgens (chair of the board), Andrea Klüttgens (managing director) and Christoph Klüttgens (managing director) · General meeting of 09-02-2018 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| TEGARO Eupen | €2.5m | €186,021 | 63.6% | 0 |
| TRANSMET INVEST Boutersem | €2.2m | €185,689 | 53.2% | 0 |
| JACO Alken | €2.2m | €203,608 | 61.2% | 0 |
| THIEBA Aalter | €2.2m | €158,006 | 25.6% | 0 |
| HEZE-BUILDING Laakdal | €2.1m | €223,300 | 35.4% | 0 |
| KRIDA Nazareth | €2.7m | €179,916 | 19.0% | 0 |
| GEEKAT Oud-Heverlee | €2.0m | €152,086 | 1.4% | 0 |
These companies have the same main activity as TEGARO: renting and operating of own or leased non-residential real estate, excluding land (NACE 68203). They are comparable in size and age: total assets between €2m and €2.7m, founded between 1992 and 2000.
Official details
Source: KBO- Status
- Active since 05-09-1994Normal situation
- Activity
- Renting and operating of own or leased non-residential real estate, excluding landNACE 68203and 1 other
- Establishment unit
- 2.068.496.2944700 Eupen, since 06-10-1994
- Financial year end
- 30 September
- Peppol
- Reachable since 20-11-2020
Annual accounts to 30-09-2025
- €2.5m▼ 0.4%
- Filing
- Filed on 08-04-2026, 22 days before the end of the filing period
Insights on TEGARO
TEGARO has existed since 1994. The gross margin fell from €250,814 in 2019 to €22,937 in 2020.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about TEGARO
- What is the company number of TEGARO?
- The company number of TEGARO is 0453.394.826. The VAT number is the same number with BE in front: BE 0453.394.826.
- Where is TEGARO based?
- The registered office is at Rue Haute 106, 4700 Eupen.Company details
- What does TEGARO do?
- According to the KBO register, the main activity is renting and operating of own or leased non-residential real estate, excluding land (NACE 68203).
- What is the legal form of TEGARO?
- TEGARO is a public limited company (NV).
- When was TEGARO founded?
- TEGARO was founded on 05-09-1994.
- Is TEGARO still active?
- Yes, TEGARO is an active enterprise in the KBO register.
- What is the turnover of TEGARO?
- The turnover in financial year 2025 is ≈ €250,000. This figure is estimated from the gross margin of €186,021 and 37 comparable companies (NACE 68203). It probably lies between €200,000 and €400,000.Financials
- Is TEGARO profitable?
- In financial year 2025, TEGARO made a profit of €66,138.
- Where can I find the annual accounts of TEGARO?
- TEGARO filed 32 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of TEGARO due?
- TEGARO must file the annual accounts for financial year 2026 by 30-04-2027.Timeline
Next steps
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