TERNO · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of TERNO is 0.9% (low). The 2025 annual accounts show equity of €190k and a net result of €31k. Equity remains stable across the filed fiscal years (±1% per year). The company has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 7 annual accounts.

Signals

2 signals · with evidence

Consistently profitable

Positive net result in the two most recent financial years (2024 and 2025).

View the result trend

Growing equity

Equity grew over 2023-2025. Profits are largely retained rather than distributed.

View the equity trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Latest accounts filed on time

The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 30-10-2025, 1 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.

The next deadline is still running

The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.

How we compute the deadline

The year end is derived from 10 filed financial years, each closing on 31-03. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-03-2025, that is 31-10-2025.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-03-2025	31-10-2025	30-10-2025	1 d early	2025-00554690
31-03-2024	31-10-2024	30-10-2024	1 d early	2024-00520706
31-03-2023	31-10-2023	19-09-2023	42 d early	2023-00448594
31-03-2022	31-10-2022	13-09-2022	48 d early	2022-20428176
31-03-2021	31-10-2021	20-09-2021	41 d early	2021-67600394
31-03-2020	31-10-2020	28-09-2020	33 d early	2020-56000529
31-03-2019	31-10-2019	12-09-2019	49 d early	2019-64100144
31-03-2018	31-10-2018	20-09-2018	41 d early	2018-63700601
31-03-2017	31-10-2017	29-09-2017	32 d early	2017-64900123
31-03-2016	31-10-2016	26-09-2016	35 d early	2016-61400486

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

Long-established

Founded in 2005, 21 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

0.9% Low

0%0,5%1,5%4%10%≥25%

No NACE activity registered +Long track record −Annual accounts: healthy financial profile −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€31k-11.9%

Working capital€-98k

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 30-10-2025 with the NBB · fiscal year 2025 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining Gross margin: declining trend of ~24.7%/year over 7 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

EBITDA

€46k

-8.2% 19-25

Net profit

€31k

-11.9% 19-25

Cash flow

€35k

-8.6% 19-25

Total assets

€346k

+114.4% 19-25

Equity

€190k

+19.2% 19-25

Working capital

€-98k

- 19-25

Income taxes

€13k

+9.1% 19-25

Dividends

€214k

+3.3% 19-25

Show 10 other metrics

Debt

€156k

+8812.6% 19-25

Debt ≤ 1y

€156k

+8812.6% 19-25

Debt > 1y

€15k

-20.1% 19-25

Current ratio

0.37

-99.5% 19-25

Quick ratio

0.37

-99.5% 19-25

Solvency

55.0%

-44.4% 19-25

Debt / equity

0.82

+7379.6% 19-25

ROE

16.1%

-26.0% 19-25

ROA

8.8%

-58.9% 19-25

Interest coverage

-61.25

- 19-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	micro
Revenue	-
EBITDA	€46k
Net profit	€31k
Cash flow	€35k
Staff costs	-
Income taxes	€13k
Dividends	-
Total assets	€346k
Equity	€190k
Debt	€156k
of which ≤ 1y	€156k
of which > 1y	-
Working capital	€-98k
Employees (FTE)	-

Ratios (computed)

	2025
Current ratio	0.37
Quick ratio	0.37
Working capital ratio	-28.3%
Solvency	55.0%
Debt / equity	0.82
Long-term debt ratio	-
Interest coverage	-61.25
Gross margin	-
Net margin	-
ROA	8.8%
ROE	16.1%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €288k · 83.3% Current assets €58k · 16.8%

Equity & liabilities

Equity €190k · 55.0% Debt €156k · 45.0%

Full annual accounts (21 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€346k
Fixed assets	21/28	€288k
Tangible fixed assets	22/27	€288k
Current assets	29/58	€58k
Amounts receivable within one year	40/41	€2k
Cash & bank	54/58	€54k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€346k
Equity	10/15	€190k
Contributions / capital	10/11	€19k
Reserves	13	€172k
Amounts payable	17/49	€156k
Amounts payable within one year	42/48	€156k
Trade debts payable within one year	44	€155k
Income statement
Gross operating margin	9900	€57k
Operating result	9901	€41k
Financial income	75	€1k
Financial charges	65	€-750
Result before taxes	9903	€43k
Income taxes	67/77	€13k
Net result for the period	9904	€31k
Result to be appropriated	9905	€31k

This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

45 / 100 Fair

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Directors

Directors & mandates

3 directors

4 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing below: a director who resigned there may therefore still show here as sitting. See the acts under Publications.

Current directors & mandates

FEMTE BVLegal entity
Director
State Gazette act 24080014 (27-05-2024)

Current
15-02-2024 → present
Olivier Fahy
Director
State Gazette act 23015174 (31-01-2023)

Current
31-01-2023 → present

Former directors (1)

Danny Gorissen
Director
State Gazette act 23015174 (31-01-2023)

Former
- → 31-01-2023

Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.

Insolvency mandates

No insolvency mandates (liquidators, administrators) on record for this company.

Legal Structure

NACE primary	-
Legal form	Private limited company(610)
Incorporation	01-07-2005
Status	Active
Postal code	3700

Structure & network

Locations & real estate

Registered office

on the map · from the address register

exact location from the address register On OpenStreetMap

4 companies at this address See who is registered here

Establishment units

1 location

Terno

Prinsenweg 23, 3700 Tongeren-BorgloonManagementactiviteiten van holdings

since 20052.150.076.561

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area4,941 m²

Buildings1

Building footprint1,365 m²

Volume (LiDAR)8,934 m³

Tallest building7.4 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
73348B0652/00C000	Flanders	4,941 m²	1 · 1,365 m²	7.4 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgisch Staatsblad · acts

2 acts

All acts · 2 updated 2 years ago

2024

27-05-2024 FEMTE BV appointed as director Director changes

FEMTE BV, Bestuurder

Original publication ↗

2023

31-01-2023 1 director appointed, 1 resigning Director changes

Olivier Fahy, Bestuurder
Danny Gorissen, Bestuurder

Original publication ↗

Analysis

Financial profile

5 of 5 axes measured

68 / 100

Strong profile, led by stability.

All 5 axes are computed from data Checked has read.

Health 45

Profitability 80

Solvency 64

Growth 52

Stability 100

Credit advice

verdict per customer and amount

Company registry

Company registry (CBE)

Crossroads Bank

Names & trade names

Legal nameNL

TERNO

Registered office

Prinsenweg 23

3700 Tongeren-Borgloon, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.