Equity
€76,388 from €1.6m in 2022
Equity fell by 95% in 3 years.
Tentoo Payroll Services
Lifetime
20 annual accounts with figures on one time axis, 28 filings since 1998peak €18.2m (2022)
€16.9m▲ 3.0%
lowest -€1.0m (2025)
-€1.0m▼ €872,640
peak €1.6m (2022)
€76,388▼ 93.0%
€3.0m▼ 7.7%
peak 1,646.4 FTE (2017)
1,013.8 FTE▼ 2.2%
Board6 names since 2014
1 directorTentoo Holding BV
Owners3 names in the annual accounts
consolidatesTemployment Participaties BV and 1 other
Documentsfilings and deeds
31-07-2026on the last day
2025financial year
Loss of €1.0mAppointment: Forvis Mazars Bedrijfsrevisoren (statutory auditor) 07-03Equity from €1.1m to €76,388Cash from €2.1m to €1.4m
Key points
from the 2025 annual accountsLosses
-€1.6m in four years
Every financial year from 2022 to 2025 closed with a loss. 2025 was the heaviest.
Debts
€3.0m 90% of the balance sheet
Suppliers 7%Taxes and wages 38%Other 55%
Of this, €1.4m falls due within a year.
Staff
151 employees on 31-12-2025
In 2025, 5,748 people joined and 5,746 left.
Payment terms
96 days to suppliers
Tentoo Payroll Services pays its suppliers 33 days later than in 2024. Customers pay 13 days earlier.
Position in the sector
-€1.0m
Lower net result than 95% of companies in employment activities. Sector median €40,969 · 316 companies.
Checked score
54
Fair
Financially stronger than 31% of large companies in employment activities (NACE 78)
Probability in this band: 1.5% to 4.2%
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59.
Bankruptcy probability within 12 months
1.1% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.3% across 70 companies (NACE 78, large).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.4%
01-2025: 0.4%● unchanged vs 12-2024
02-2025: 0.4%● unchanged vs 01-2025
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.4%● unchanged vs 03-2025
05-2025: 0.4%● unchanged vs 04-2025
06-2025: 0.4%● unchanged vs 05-2025
07-2025: 0.4%● unchanged vs 06-2025
08-2025: 0.5%▲ +0.1 percentage points vs 07-2025
09-2025: 0.2%▼ -0.3 percentage points vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026lowest value
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.7%▲ +0.5 percentage points vs 07-2026
09-2026: 0.7%● unchanged vs 08-2026
10-2026: 1.1%▲ +0.4 percentage points vs 09-2026highest value
11-2026: 1.1%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: a net loss of at least half of total assets or of the equity at the start of the financial year
Loss of €1.0m, the second in a row (financial year 2025)
Equity €76,388 (2.3% of total assets)
1 change of registered office in 24 months
lowers risk
Liquidity: current ratio 2.30, cash €1.4m
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 78, large). It does better than 6% of them on solvency, 90% on liquidity, 1% on profitability and 29% on growth.
The bankruptcy probability was computed on 07-11-2026 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 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% 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, 743 companies had the same profile as Tentoo Payroll Services has now. Each dot stands for 2 companies, two years later.
86.1%
were still trading
8.1%
stopped another way
5.1%
went bankrupt
Another 0.7% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Tentoo Payroll Services itself: 1.1% within 12 months.
Test of the method
The method was tested on the 497,447 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 743 companies, not a prediction for Tentoo Payroll 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.
Credit verdict
Credit of up to €4,000 on 30-day terms, only on tighter conditions
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is ample, with a current ratio of 2.3 (1.35 in 2024), above the usual 1.5. Short-term debt is 42.8% and cash 41.9% of total assets. However, 97.7% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises riskneutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€1.0m
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 315 sector peers (2025).
NBB · sector comparisonPosition among 315 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
14 days late
2023
6 days early
2022
51 days late
2021
320 days late
2020
551 days late
2019
188 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 160 days after the deadline. In the sector (NACE 78), the median for financial year 2024 was 14 days before the deadline, and 30% 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 14 August (4 of the last 5 accounts filed within 37 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
08-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
TH
Tentoo Holding BV
Director, Dennis Luijten, since 12-10-2022
- Temployment Participaties BV consolidatesannual accounts 2025
- Tentoo Holding BV consolidatesannual accounts 2025
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0462803529
Registered office moved from Zaventem to Machelen
New registered office: Culliganlaan 2C, 1831 Machelen (Diegem) · Previous registered office: Ikaroslaan 14, 1930 Zaventem · Permanent representative: Dennis Luyten · Gazette deed
Appointment: Forvis Mazars Bedrijfsrevisoren (statutory auditor)
Permanent representative: Dennis Luyten · General meeting of 28-06-2024 · Gazette deed
Resignation: Saffron Sourcing BV (director)
Permanent representative: Johan Lauwers · Director discharge: Saffron Sourcing BV · General meeting of 29-07-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Tentoo Payroll Services Machelen (Brab.) | €16.9m | -5.8% | 2.3% | 1,013.8 |
| EQUIP' Herstal | €34.9m | -1.7% | -3.7% | 613.3 |
| RANDSTAD CONSTRUCT Grimbergen | €19.0m | 5.8% | 70.5% | 328.6 |
| WERKERS in uitzenden Leuven | €9.3m | 0.1% | 62.9% | 258.9 |
| Digital Payroll Services Ghent | €31.2m | 2.4% | 6.7% | 609.5 |
| FLEXTRA INTERIM Kortrijk | €22.8m | 3.0% | 25.8% | 316.5 |
| AGO CONSTRUCT Kortrijk | €18.8m | 6.0% | 36.6% | 251.2 |
Grey: the largest companies of the sector (employment activities (NACE 78)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as Tentoo Payroll Services: temporary employment agencies and other provision of personnel (NACE 78200). They are comparable in size and age: total assets between €2.3m and €6.9m, founded between 1989 and 2008.
Official details
Source: KBO- Status
- Active since 03-03-1998Normal situation
- Registered office
- 11 active companies are registered at this addressSource: KBO register, as of 8 November 2026.
- Activity
- Temporary employment agencies and other provision of personnelNACE 78200
- Joint committees
- 322Temporary agency work and approved local services
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.089.001.5021831 Machelen (Brab.), since 29-06-2000
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Annual accounts 2025
- €3.4m▼ 22.7%
- Employeeson 31-12-2025
- 151▲ 1.3%
- Filing
- Filed on 31-07-2026, on the last day of the filing period
Insights on Tentoo Payroll Services
Tentoo Payroll Services has existed since 1998. Turnover grew from €7.5m in 2006 to €16.9m in 2025 and staff from 341.5 to 1,013.8 full-time equivalents.
Solvency fell in 2025 from 24.8% to 2.3% because of the loss.
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 Tentoo Payroll Services
- What is the company number of Tentoo Payroll Services?
- The company number of Tentoo Payroll Services is 0462.803.529. The VAT number is the same number with BE in front: BE 0462.803.529.
- Where is Tentoo Payroll Services based?
- The registered office is at Culliganlaan 2C, 1831 Machelen (Brab.).Company details
- What does Tentoo Payroll Services do?
- According to the KBO register, the main activity is temporary employment agencies and other provision of personnel (NACE 78200).
- What is the legal form of Tentoo Payroll Services?
- Tentoo Payroll Services is a public limited company (NV).
- When was Tentoo Payroll Services founded?
- Tentoo Payroll Services was founded on 03-03-1998.
- Is Tentoo Payroll Services still active?
- Yes, Tentoo Payroll Services is an active enterprise in the KBO register.
- How many employees does Tentoo Payroll Services have?
- Tentoo Payroll Services had an average of 1,013.8 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Tentoo Payroll Services fall under?
- In its 2025 annual accounts, Tentoo Payroll Services states joint committees 322 (Temporary agency work and approved local services) and 200 (Auxiliary committee for white-collar workers).
- What is the turnover of Tentoo Payroll Services?
- The turnover of Tentoo Payroll Services was €16.9m in financial year 2025, according to the filed annual accounts.
- Is Tentoo Payroll Services profitable?
- In financial year 2025, Tentoo Payroll Services made a loss of €1.0m.
- Where can I find the annual accounts of Tentoo Payroll Services?
- Tentoo Payroll Services filed 28 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Tentoo Payroll Services due?
- Tentoo Payroll Services must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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