TERRA SELECTION
ActiveSummary
The computed 12-month bankruptcy probability of TERRA SELECTION is 2.2% (moderate). The 2025 annual accounts show negative equity (-€43,240) and a net result of €875. Its solvency ranks better than 9% of 13,749 sector peers (NACE 46, financial year 2025). The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 24-08-2023 Normal situation
- Activity
- Non-specialised wholesale NACE 46392and 3 others
- Establishment unit
- 2.350.256.352 1180 Ukkel, since 24-08-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 2.2%
Annual accounts 2025
- Gross margin
- €4,986
- Turnover
- ≈ €83,000
- estimated
- Profit
- €875
- Equity
- -€43,240
- ▲ 2.0%
- Total assets
- €41,305
- ▲ 18.7%
- Negative equity on 31-12-2025
Score breakdownraises riskFounded in 2023Negative equity -€43,240Size: total assets €41,305lowers riskFigures for financial year 2025 (filed on 02-07-2026)Show the evidence
Checked score
Score 2025
52
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially stronger than 25% of micro companies in wholesale trade (NACE 46)
Financial strength · tick: 2024
Weak
Solvency
0=
equity -104.7% of total assets
Liquidity
15-10
short-term debt 141.6% · cash 11.9%
Profitability
41+41
return on assets 2.1%
Bankruptcy probability within 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 4.2%
01-2025: 4.4%▲ +0.2 percentage points vs 12-2024
02-2025: 4.8%▲ +0.4 percentage points vs 01-2025
03-2025: 4.8%● unchanged vs 02-2025
04-2025: 5.0%▲ +0.2 percentage points vs 03-2025
05-2025: 5.1%▲ +0.1 percentage points vs 04-2025
06-2025: 5.0%▼ -0.1 percentage points vs 05-2025
07-2025: 5.3%▲ +0.3 percentage points vs 06-2025
08-2025: 5.4%▲ +0.1 percentage points vs 07-2025highest value
09-2025: 3.5%▼ -1.9 percentage points vs 08-2025
10-2025: 3.5%● unchanged vs 09-2025
11-2025: 3.5%● unchanged vs 10-2025
12-2025: 3.5%● unchanged vs 11-2025
01-2026: 3.5%● unchanged vs 12-2025
02-2026: 3.5%● unchanged vs 01-2026
03-2026: 3.5%● unchanged vs 02-2026
04-2026: 3.9%▲ +0.4 percentage points vs 03-2026
05-2026: 4.2%▲ +0.3 percentage points vs 04-2026
06-2026: 4.2%● unchanged vs 05-2026
07-2026: 4.3%▲ +0.1 percentage points vs 06-2026
08-2026: 2.2%▼ -2.1 percentage points vs 07-2026lowest value
09-2026: 2.2%● unchanged vs 08-2026lowest value
10-2026: 2.2%● unchanged vs 09-2026lowest value
11-2026: 2.2%● unchanged vs 10-2026lowest value
No credit on open account
Liquidity is insufficient, with a current ratio of 0.68 (0.65 in 2024), below 1. Short-term debt is 141.6% and cash 11.9% of total assets. Equity is negative.
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 46, micro). It does better than 6% of them on solvency, 15% on liquidity, 33% on profitability and 48% on growth.
The bankruptcy probability was computed on 03-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 13749 sector peers (2025).
NBB · sector comparisonPosition among 13749 sector peers
Solvency
better than 9%
← 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 02-07-2026, 29 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
29 days early
2024
21 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 4 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% 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.
Companies Code · seven monthsWhere today falls in the filing period
04-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 02-07-2026 at the NBB all 2 filings
Turnover
≈ €83,000
Estimated: probably between €38,000 and €130,000
Total assets
€41,305▲ 18.7%
2024 · €34,788
Net result
€875
2024 · -€49,114
Working capital
-€18,612▼ 6.7%
2024 · -€17,439
Multi-year overview
2024 to 2025, 2 financial yearsOperating result
€2,301
2025
20242025
Net result
€875
2025
middle half of the sector
20242025
Equity
-€43,240
▲ 2.0%
2025
lowest quarter of the sector
20242025
Total assets
€41,305
▲ 18.7%
2025
lowest quarter of the sector
20242025
Debt
€84,545
▲ 7.2%
2025
20242025
Working capital
-€18,612
▼ 6.7%
2025
lowest quarter of the sector
20242025
Solvency
-104.7%
▲ 22.1pp
2025
lowest quarter of the sector
20242025
Current ratio
0.68
▲ 0.03
2025
lowest quarter of the sector
20242025
Return on assets (ROA)
2.1%
▲ 143.3pp
2025
middle half of the sector
20242025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20242025
Operating result-€47,115-€2,301
Net result-€49,114below the sector's middle half-€875within the sector's middle half
Equity-€44,114below the sector's middle half--€43,240below the sector's middle half▲ 2.0%
Total assets€34,788below the sector's middle half-€41,305below the sector's middle half▲ 18.7%
Debt€78,902-€84,545▲ 7.2%
Working capital-€17,439below the sector's middle half--€18,612below the sector's middle half▼ 6.7%
Solvency-126.8%below the sector's middle half--104.7%below the sector's middle half▲ 22.1pp
Current ratio0.65below the sector's middle half-0.68below the sector's middle half▲ 0.03
Return on assets (ROA)-141.2%below the sector's middle half-2.1%within the sector's middle half▲ 143.3pp
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 2025 is a profit of €2,301, after a loss of €47,115 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €41,305
Fixed assets
€1,412 ▼ 41.1%
Current assets
€39,894 ▲ 23.2%
Equity and liabilities
Equity-€43,240
Debt€84,545
Equity is negative. Debt (€84,545) exceeds the balance-sheet total (€41,305).
Key figures and ratios
EBITDA
€3,161▲
2024 · -€46,324
Cash flow
€1,735▲
2024 · -€48,323
Quick ratio
0.34▼
2024 · 0.40
Interest coverage
2.30▲
2024 · -23.17
Debt ≤ 1 year
€58,506▲
2024 · €49,831
Debt > 1 year
€26,039▼
2024 · €29,071
Income taxes
€63
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2024 |
|---|---|
| Joined | 0 |
| Left | 1 |
Source: social balance sheet in the 2024 annual accounts
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Intangible fixed assets | €3,062 | - |
| Financial fixed assets | €125 | - |
| Depreciation and write-downs of the year | €791 | €860 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Non-recurring operating income76A | - | €77 | - |
| Remuneration, social security and pensions62 | €20,837 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €791 | €860 | ▲ 8.7% |
| Other operating charges640/8 | €779 | €1,826 | ▲ 134% |
| Gross operating margin9900 | -€24,707 | €4,986 | - |
| Operating profit (loss)9901 | -€47,115 | €2,301 | - |
| Financial income75/76B | - | €11 | - |
| Recurring financial income75 | - | €11 | - |
| Financial charges65/66B | €2,000 | €1,374 | ▼ 31.3% |
| Recurring financial charges65 | €2,000 | €1,374 | ▼ 31.3% |
| Profit (loss) for the period before taxes9903 | -€49,114 | €937 | - |
| Income taxes67/77 | - | €63 | - |
| Profit (loss) for the period9904 | -€49,114 | €875 | - |
| Profit (loss) for the period to be appropriated9905 | -€49,114 | €875 | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €34,788 | €41,305 | ▲ 18.7% |
| Fixed assets21/28 | €2,396 | €1,412 | ▼ 41.1% |
| Intangible fixed assets21 | €2,271 | €1,412 | ▼ 37.9% |
| Financial fixed assets28 | €125 | - | - |
| Current assets29/58 | €32,391 | €39,894 | ▲ 23.2% |
| Stocks and contracts in progress3 | €12,242 | €19,811 | ▲ 61.8% |
| Stocks30/36 | €12,242 | €19,811 | ▲ 61.8% |
| Amounts receivable within one year40/41 | €13,153 | €15,171 | ▲ 15.3% |
| Trade receivables40 | €13,153 | €15,171 | ▲ 15.3% |
| Cash at bank and in hand54/58 | €6,997 | €4,912 | ▼ 29.8% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €34,788 | €41,305 | ▲ 18.7% |
| Equity10/15 | -€44,114 | -€43,240 | ▲ 2.0% |
| Contributions10/11 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | -€49,114 | -€48,240 | ▲ 1.8% |
| Amounts payable17/49 | €78,902 | €84,545 | ▲ 7.2% |
| Amounts payable after more than one year17 | €29,071 | €26,039 | ▼ 10.4% |
| Financial debts170/4 | €29,071 | €26,039 | ▼ 10.4% |
| Amounts payable within one year42/48 | €49,831 | €58,506 | ▲ 17.4% |
| Current portion of amounts payable after more than one year42 | €4,742 | €5,032 | ▲ 6.1% |
| Financial debts43 | €8,245 | €8,506 | ▲ 3.2% |
| Credit institutions430/8 | €8,245 | €8,506 | ▲ 3.2% |
| Trade debts44 | €34,287 | €43,313 | ▲ 26.3% |
| Suppliers440/4 | €34,287 | €43,313 | ▲ 26.3% |
| Taxes, remuneration and social security45 | €2,558 | €1,655 | ▼ 35.3% |
| Taxes450/3 | €2,481 | €1,655 | ▼ 33.3% |
| Remuneration and social security454/9 | €77 | - | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€49,114 | €875 | - |
| + Depreciation and write-downs630 | €791 | €860 | ▲ 8.7% |
| Operating cash flow (approximation) | -€48,323 | €1,735 | - |
| Investment in fixed assets (approximation) | - | €125 | - |
| Change in cash | - | -€2,085 | - |
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, 516 companies had the same profile as TERRA SELECTION has now. Two years later, 91.9% were still going and 4.5% had gone bankrupt.
- Micro
- 2 to 5 years old
- negative equity
- a profit under 5% of the balance sheet
91.9%
was still going
2.5%
stopped otherwise
4.5%
went bankrupt
Another 1.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of TERRA SELECTION itself: 2.2% within 12 months.
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 516 companies, not a prediction for TERRA SELECTION. 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.
Board & ownership
Directors
Directors
2 directors, no change since 2023
PAGLIA Domenico
Current
Director (not named in the articles) · appointed in the act of 28-08-2023 · term without a fixed end · also on the board of 1 other company · listed in the 2025 annual accounts, filed on 02-07-2026
TEGLIA Andrea
Current
Director (not named in the articles) · appointed in the act of 28-08-2023 · term without a fixed end · listed in the 2025 annual accounts, filed on 02-07-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“Article 12. Pouvoirs de l’organe d’administration S’il n’y a qu’un seul administrateur, la totalité des pouvoirs d’administration lui est…”
deed of 28-08-2023Owners and capital
Shareholders
At incorporation
act of 28-08-2023 ↗
- PAGLIA Domenico 25 shares (50%) · €2,500
- TEGLIA Andrea 25 shares (50%) · €2,500
Capital transactions
Capital over time
- 28-08-2023 Incorporation · €5,000 · 50 shares
Mandate history
2 people, 2 in office
- Board
| Name | Functions and periods |
|---|---|
| PAGLIA Domenico |
|
| TEGLIA Andrea |
|
Articles of association
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Moitié cédant moitié acquéreurs proportionnellement actions si plusieurs, commun accord sinon président tribunal entreprise comme en référé…”
Articles of association, deed of 28-08-2023 (in French)
Network & group
Companies at the same address
2 other companiesConnections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
FGA IMMO
via PAGLIA Domenico · Director (not named in the articles)
→
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
02-07
micro format · 29 days before the deadline
2025
31-12
Financial
Back to profitnet €875
The net result is €875, after one loss-making year.
21-08
micro format · 21 days late
2024
03-07
Gazette deed
Registered office moved from Anderlecht to UccleNew seat: Chaussée de Saint Job 361 - 1180 UCCLE · Previous seat: Boulevard Industriel 9 - 1070 Anderlecht · Director in office2 points ▸
Gazette deed
Registered office moved from Anderlecht to Uccle
New seat: Chaussée de Saint Job 361 - 1180 UCCLE · Previous seat: Boulevard Industriel 9 - 1070 Anderlecht · Director in office2 points ▸
- Registered-office move, Chaussée de Saint Job 361 - 1180 UCCLE
- Director in office, Domenico Paglia (director)
2023
28-08
Gazette deed
IncorporationAppointments: PAGLIA Domenico (director) and TEGLIA Andrea (director) · Founder · Founding capital14 points ▸
Gazette deed
Incorporation
Appointments: PAGLIA Domenico (director) and TEGLIA Andrea (director) · Founder · Founding capital14 points ▸
- Founder, PAGLIA Domenico
- Founder, TEGLIA Andrea
- Founding capital, €5,000
- PAGLIA Domenico holds 25 shares
- TEGLIA Andrea holds 25 shares
- Bank account, 5000, EUR
- Other provision, 24-08-2023
- Other provision, “responsabilité des fondateurs en cas de faillite dans les trois ans de la constitution si capitaux propres de départ manifestement insuffisants” (deed in French)
- Other provision, “attestation notariée du dépôt conformément au Code des sociétés et des associations”, 5000 (deed in French)
- Capital
- Registered office clause, “1070 Anderlecht, Boulevard Industriel 9” (deed in French)
- Board rule, 2
- The act holds 2 more points.
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
TERRA SELECTION in French
Enterprise number
0805.081.687
Legal form
Private limited company
Status
Active, normale toestand
Founded
24-08-2023
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 28-08-2023 (in French)Name clauseThe company operates under this name according to its articles.
Terra Selection
deed of 28-08-2023 (in French)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Région de Bruxelles-Capitale, peut établir sièges administratifs,agences,ateliers,dépôts et succursales tant en Belgique qu'à l'étranger par…”
deed of 28-08-2023 (in French)Registered office and establishments
Registered office
Sint-Jobsesteenweg 361, 1180 Ukkel, Belgium
1 former office
- Boulevard Industriel 9, 1070 Anderlecht until 01-07-2024 · act of 03-07-2024
Establishment unit
TERRA SELECTION, Sint-Jobsesteenweg 361, 1180 Ukkel since 24-08-2023 · unit number 2.350.256.35246311 Wholesale trade
E-mail
info@terraselection.comUkkel
Phone
0486350872Ukkel
Activities
NACEBEL 202546392
Non-specialised wholesale main activity
46349
Wholesale of beverages, general range
46389
Wholesale of other food products
46391
Wholesale trade
Codes under NACEBEL 2008
46392
Non-specialised wholesale main activity
46349
Wholesale of beverages, general range
46389
Wholesale of other food products
46391
Wholesale trade
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 28-08-2023 (in French)
“Le commerce en gros et en détail de produits alimentaires ou non alimentaires issus ou non de l'agriculture biologique et naturelle et de…”
10 activities
- Le commerce en gros et en détail de produits alimentaires ou non alimentaires issus ou non de l'agriculture biologique et naturelle et de boissons alcoolisées ou non alcoolisées. Comme déjà précisé,la commercialisation de ces produits doit s'entendre au sens le plus large ;
- Les prestations de services de conseil relatif à la gestion financière et commerciale des entreprises et des personnes physiques et notamment mais non exclusivement dans les domaines de stratégie,organisation,marketing,gestion de production et ressources humaines ; toutes activités de conseil notamment mais non exclusivement en matières fiscales,financières et bancaires ; toutes activités afférentes à la récupération de créances,la formation de personne à l'usage de l'informatique,de la lecture de bilans,d'analyse financière et de gestion de crédit ou autres matières connexes et l'organisation de tous cours,stages ou conférences dans ces domaines. La société a également pour objet la consultance et les conseils informatiques,l'audit,le contrôle et l'assurance de qualité,l'installation et l'adaptation de matériel informatique,ainsi que la vente d’accessoires aux dites installations et adaptation ; la mise à disposition de matériel (location de temps machine) ; le développement et la vente de logiciels informatiques ; l'intermédiaire commercial,la représentation et la distribution de produits informatiques ;
- L'importation,l'exportation,l'achat,la vente dans le monde entier de tous produits,matières et services de toutes origines. A ces effets,la société peut ouvrir tout magasin de gros,de demi-gros ou de détail ;
- La gestion de son patrimoine mobilier et immobilier,intervenir en matière de conseils et réalisation en matière économiques,financières et monétaires,assurer ou coordonner la réalisation de projets immobiliers,prendre de façon permanente ou temporaire sans en exclure le caractère spéculatif toute participation dans toutes sortes de sociétés. Elle peut notamment acheter,échanger et vendre tous biens ou droits mobiliers et immobiliers,investir à court,moyen ou long terme,faire des opérations de bourses,des investissements dans des matières premières,achats et ventes sur le marché des options,ériger et faire aménager,prendre ou donner des immeubles en location,faire tous travaux en vue de les rendre rentables,lotir des terrains,créer la voirie nécessaire,contracter tous contrats de leasing,prendre ou donner des droits de nue-propriété,d'usufruit,d'emphytéose ou de superficie,se porter caution ou donner des garanties.
- La société pourra louer ou sous louer,acquérir des droits réels ou la pleine propriété de tout immeuble dans le but soit d'y établir son siège social,un siège d'exploitation ou d'y loger ses dirigeants et les membres de leur famille à titre de résidence principale.
- Elle peut accomplir toutes opérations commerciales,industrielles,financières,mobilières ou immobilières se rapportant directement ou indirectement à son objet.
- Elle peut s'intéresser par toutes voies dans toutes sociétés associations ou entreprises ayant un objet similaire ou connexe au sien ou susceptible de favoriser le développement de ses activités. La société peut être administrateur,gérant ou liquidateur dans d'autres sociétés.
- La société pourra exercer toutes activités d'intermédiaire commercial dans les domaines ci-dessus énumérés et dans tous secteurs dont l'activité n'est pas réglementée à ce jour.
- La société peut constituer hypothèque ou toute autre sûreté réelle sur les biens sociaux ou se porter caution.
- Elle peut prêter à toutes sociétés et/ou personnes physiques et se porter caution pour elles,même hypothécairement.
Invoicing and payment
VAT number
BE 0805.081.687
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Third Monday of June at 17:00
deed of 28-08-2023 (in French)Sites & property
Location
Buildings and parcels at the address
Ground area
190 m²
Building footprint
60 m²
Building volume
500 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21614E0284/00W003 | Brussels | 190 m² | 1 · 60 m² | 11.0 m · 3 |