TeRho
ActiveSummary
The annual accounts of TeRho for fiscal year 2025 show a net loss of 74% of the equity at the start of that year. The 2025 annual accounts show equity of €72k and a net result of €-208k. Equity remains stable across the filed fiscal years (±0.3% per year). Its solvency ranks better than 17% of 4654 sector peers (fiscal year 2025). The company has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability13▼-7
Solvency28▼-8
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.01 against 0.1 in 2024; short-term debt: 45.4% and cash: 0.1% of total assets), and 97.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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 €-208k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 4654 sector peers (2025).
NBB · sector comparisonPosition among 4654 sector peers
Solvency
better than 17%
← 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 10-04-2026, 112 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
112 d early
2024
31 d early
2023
5 d late
2022
40 d early
2021
31 d early
2020
45 d early
2019
23 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€72k▼ 74.3%
2024 · €281k
2018: €165k
2019: €214k▲ +29.4% vs 2018
2020: €460k▲ +115% vs 2019highest in 8 years
2021: €393k▼ -14.5% vs 2020
2022: €396k▲ +0.9% vs 2021
2023: €444k▲ +12.1% vs 2022
2024: €281k▼ -36.8% vs 2023
2025: €72k▼ -74.3% vs 2024lowest in 8 years
2018 → 2025
Total assets
€2.46M▼ 6.6%
2024 · €2.63M
2018: €1.17M
2019: €1.09M▼ -6.4% vs 2018
2020: €1.64M▲ +50.7% vs 2019
2021: €1.10M▼ -33.4% vs 2020
2022: €945k▼ -13.7% vs 2021lowest in 8 years
2023: €1.45M▲ +53.7% vs 2022
2024: €2.63M▲ +80.9% vs 2023highest in 8 years
2025: €2.46M▼ -6.6% vs 2024
2018 → 2025
Net result
€-208k▼ 27.4%
2024 · €-164k
2018: €273
2019: €49k▲ +17688% vs 2018
2020: €246k▲ +406% vs 2019highest in 8 years
2021: €16k▼ -93.3% vs 2020
2022: €3k▼ -79.3% vs 2021
2023: €48k▲ +1301% vs 2022
2024: €-164k▼ -442% vs 2023
2025: €-208k▼ -27.4% vs 2024lowest in 8 years
2018 → 2025
Working capital
€-1.11M▼ 26.5%
2024 · €-877k
2018: €-400k
2019: €-416k▼ -3.9% vs 2018
2020: €-255k▲ +38.6% vs 2019highest in 8 years
2021: €-395k▼ -55.0% vs 2020
2022: €-434k▼ -9.7% vs 2021
2023: €-639k▼ -47.3% vs 2022
2024: €-877k▼ -37.1% vs 2023
2025: €-1.11M▼ -26.5% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€393k-€396k▲ 0.9%€444k▲ 12.1%€281k▼ 36.8%€72k▼ 74.3%
2021: €393k
2022: €396k▲ +0.9% vs 2021
2023: €444k▲ +12.1% vs 2022highest in 5 years
2024: €281k▼ -36.8% vs 2023
2025: €72k▼ -74.3% vs 2024lowest in 5 years
Operating result€39k-€18k▼ 54.6%€63k▲ 260%€-119k€-148k▼ 23.9%
2021: €39k
2022: €18k▼ -54.6% vs 2021
2023: €63k▲ +260% vs 2022highest in 5 years
2024: €-119k▼ -289% vs 2023
2025: €-148k▼ -23.9% vs 2024lowest in 5 years
Net result€16k-€3k▼ 79.3%€48k▲ 1,301%€-164k€-208k▼ 27.4%
2021: €16k
2022: €3k▼ -79.3% vs 2021
2023: €48k▲ +1301% vs 2022highest in 5 years
2024: €-164k▼ -442% vs 2023
2025: €-208k▼ -27.4% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €148k in 2025 against €119k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.46M
Fixed assets
€2.45M ▼ 3.2%
Current assets
€7k ▼ 93.0%
Equity and liabilities €2.46M
Equity
€72k ▼ 74.3%
Debt
€2.38M ▲ 1.5%
Debt's share of the balance-sheet total rises from 89.3% to 97.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€32k▼
2024 · €48k
Cash flow
€-29k▼
2024 · €4k
Current ratio
0.01▼
2024 · 0.10
Debt to equity
33.06▲
2024 · 8.37
ROE
-289.2%▼
2024 · -58.3%
ROA
-8.5%▼
2024 · -6.2%
Interest coverage
0.53▼
2024 · 1.10
Debt ≤ 1 year
€1.12M▲
2024 · €974k
Debt > 1 year
€1.27M▼
2024 · €1.37M
Income taxes
€623▲
2024 · €557
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 · 47 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.63M€2.46M▼
Fixed assets21/28€2.53M€2.45M▼
Tangible fixed assets22/27€2.53M€2.45M▼
Land and buildings22€2.52M€2.37M▼
Furniture and vehicles24€5k€76k▲
Leasing and similar rights25€1k-
Financial fixed assets28€1k€1k=
Current assets29/58€97k€7k▼
Amounts receivable within one year40/41€50k€4k▼
Trade receivables40€50k€4k▼
Cash at bank and in hand54/58€48k€2k▼
Deferred charges and accrued income490/1-€993
Equity and liabilities
Total equity and liabilities10/49€2.63M€2.46M▼
Equity10/15€281k€72k▼
Contributions10/11€19k€19k=
Reserves13€424k€424k=
Non-distributable reserves130/1€620€620=
Reserves not available under the articles1311€620€620=
Tax-exempt reserves132€19k€19k=
Distributable reserves133€405k€405k=
Profit (loss) carried forward14€-162k€-371k▼
Amounts payable17/49€2.35M€2.38M▲
Amounts payable after more than one year17€1.37M€1.27M▼
Financial debts170/4€1.37M€1.27M▼
Amounts payable within one year42/48€974k€1.12M▲
Current portion of amounts payable after more than one year42€2k€82k▲
Financial debts43€50k€50k=
Credit institutions430/8€50k€50k=
Trade debts44€73k€4k▼
Suppliers440/4€73k€4k▼
Taxes, remuneration and social security45€29k€6k▼
Taxes450/3€29k€6k▼
Other amounts payable47/48€820k€974k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€167k€180k▲
Other operating charges640/8€64k€47k▼
Gross operating margin9900€113k€79k▼
Operating profit (loss)9901€-119k€-148k▼
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€44k€60k▲
Recurring financial charges65€44k€60k▲
Profit (loss) for the period before taxes9903€-163k€-208k▼
Income taxes67/77€557€623▲
Profit (loss) for the period9904€-164k€-208k▼
Profit (loss) for the period to be appropriated9905€-164k€-208k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-162k€-371k▼
Profit (loss) brought forward from the previous period14P€1k€-162k▼
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €90k | €93k | €92k | €167k | €180k | ▲ 7.3% |
| Other operating charges640/8 | €45k | €25k | €32k | €64k | €47k | ▼ 27.4% |
| Gross operating margin9900 | €174k | €135k | €187k | €113k | €79k | ▼ 30.1% |
| Operating profit (loss)9901 | €39k | €18k | €63k | €-119k | €-148k | ▼ 23.9% |
| Financial income75/76B | €0 | €0 | - | €0 | - | - |
| Recurring financial income75 | €0 | €0 | - | €0 | - | - |
| Financial charges65/66B | €12k | €6k | €8k | €44k | €60k | ▲ 37.2% |
| Recurring financial charges65 | €12k | €6k | €8k | €44k | €60k | ▲ 37.2% |
| Profit (loss) for the period before taxes9903 | €26k | €11k | €55k | €-163k | €-208k | ▼ 27.5% |
| Income taxes67/77 | €10k | €8k | €7k | €557 | €623 | ▲ 11.8% |
| Profit (loss) for the period9904 | €16k | €3k | €48k | €-164k | €-208k | ▼ 27.4% |
| Profit (loss) for the period to be appropriated9905 | €16k | €3k | €48k | €-164k | €-208k | ▼ 27.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.10M | €945k | €1.45M | €2.63M | €2.46M | ▼ 6.6% |
| Fixed assets21/28 | €814k | €841k | €1.42M | €2.53M | €2.45M | ▼ 3.2% |
| Tangible fixed assets22/27 | €813k | €840k | €1.42M | €2.53M | €2.45M | ▼ 3.2% |
| Land and buildings22 | €69k | €185k | €853k | €2.52M | €2.37M | ▼ 6.0% |
| Furniture and vehicles24 | €42k | €29k | €17k | €5k | €76k | ▲ 1,313% |
| Leasing and similar rights25 | €702k | €625k | €549k | €1k | - | - |
| Financial fixed assets28 | €1k | €1k | €1k | €1k | €1k | = |
| Current assets29/58 | €282k | €104k | €32k | €97k | €7k | ▼ 93.0% |
| Amounts receivable within one year40/41 | €17k | €28k | €24k | €50k | €4k | ▼ 91.8% |
| Trade receivables40 | - | €20k | €24k | €50k | €4k | ▼ 91.8% |
| Other amounts receivable41 | €17k | €8k | - | - | - | - |
| Current investments50/53 | €263k | - | - | - | - | - |
| Cash at bank and in hand54/58 | - | €74k | €6k | €48k | €2k | ▼ 96.3% |
| Deferred charges and accrued income490/1 | €1k | €1k | €1k | - | €993 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.10M | €945k | €1.45M | €2.63M | €2.46M | ▼ 6.6% |
| Equity10/15 | €393k | €396k | €444k | €281k | €72k | ▼ 74.3% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €373k | €377k | €424k | €424k | €424k | = |
| Non-distributable reserves130/1 | €620 | €620 | €620 | €620 | €620 | = |
| Reserves not available under the articles1311 | €620 | €620 | €620 | €620 | €620 | = |
| Tax-exempt reserves132 | €19k | €19k | €19k | €19k | €19k | = |
| Distributable reserves133 | €354k | €357k | €405k | €405k | €405k | = |
| Profit (loss) carried forward14 | €1k | €1k | €1k | €-162k | €-371k | ▼ 128% |
| Amounts payable17/49 | €703k | €549k | €1.01M | €2.35M | €2.38M | ▲ 1.5% |
| Amounts payable after more than one year17 | €25k | €11k | €337k | €1.37M | €1.27M | ▼ 7.7% |
| Financial debts170/4 | €25k | €11k | €337k | €1.37M | €1.27M | ▼ 7.7% |
| Amounts payable within one year42/48 | €678k | €538k | €672k | €974k | €1.12M | ▲ 14.5% |
| Current portion of amounts payable after more than one year42 | €147k | €62k | €53k | €2k | €82k | ▲ 4,964% |
| Financial debts43 | €50k | €50k | €50k | €50k | €50k | = |
| Credit institutions430/8 | €50k | €50k | €50k | €50k | €50k | = |
| Trade debts44 | €236k | €16k | €31k | €73k | €4k | ▼ 95.0% |
| Suppliers440/4 | €236k | €16k | €31k | €73k | €4k | ▼ 95.0% |
| Taxes, remuneration and social security45 | €13k | €20k | €12k | €29k | €6k | ▼ 80.3% |
| Taxes450/3 | €13k | €20k | €12k | €29k | €6k | ▼ 80.3% |
| Remuneration and social security454/9 | €232 | - | - | - | - | - |
| Other amounts payable47/48 | €231k | €389k | €526k | €820k | €974k | ▲ 18.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16k | €3k | €48k | €-164k | €-208k | ▼ 27.4% |
| + Depreciation and write-downs630 | €90k | €93k | €92k | €167k | €180k | ▲ 7.3% |
| Operating cash flow (approximation) | €106k | €96k | €140k | €4k | €-29k | ▼ 841% |
| Investment in fixed assets (approximation) | - | €-120k | €-671k | €-1.28M | €-98k | ▲ 92.4% |
| Change in cash | - | - | €-68k | €41k | €-46k | ▼ 211% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
10-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-208k
Net result drops to €-208k, the lowest in the series.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
05-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 5 days late
2023
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
16-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €246k ▲406%
Operating result €388k, net result €246k, both a record.
08-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €200kEq €214k ▲29.4%
2 profitable years in a row build equity to €214k.
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
13-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 13 days late
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 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, Steenokkerzeel · 1 establishment unit since 1984
Ground area
5,618 m²
Building footprint
2,272 m²
Volume, LiDAR
15,087 m³
2 parcels, Flanders · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
J. Monnetlaan 3, 1800 Vilvoorde
since 19842.026.438.381
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23643E0213/00G000 | Flanders | 4,643 m² | 1 · 2,065 m² | 8.5 m · 2 fl. |
| 23051A0136/00N004 | Flanders | 975 m² | 1 · 207 m² | 9.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 12,585 companies in sector 49410 we hold annual accounts for 8,198. 6,222 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded28-09-1984
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
Scores and ratios are computed by Checked and are not a credit decision.