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TerTex

Active
Cooperative companyfounded 2003active for 22 yearsRue de Milmort 690, 4040 Herstal, Belgium12 active companies are registered at this addressKBO/BCE: BE 0861.833.122
Summary

TerTex has been active since 2003 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.0m and a net result of €74,990. Equity is shrinking by about 9.3% per year across the filed financial years. Its solvency ranks better than 48% of 255 sector peers (NACE 38, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).

Risk analysisFollow ReportCompare
TerTexActiveChecked score 70/100
Risk analysis ReportCompare

Overview

Activity
Materials recovery from waste
NACE 38210
1 site
Size
€3.0mtotal assets 2025
Staff
37.3 FTE
Equity
€1.0m
Profit
€74,990
Financial health
70 Healthy Checked score 2025
Bankruptcy probabilitywithin 12 months
0.6%
Structure
Parent
TERRE asbl · 99.2%
Auditor: Axylium Audit - Liège SRL2025 accounts filed 25 days late3 of 16 deeds summarised
Why 70raises riskSize: 37.3 FTE, total assets €3.0mLiquidity: current ratio 1.23, cash €110,155lowers riskFounded in 2003Figures for financial year 2025 (filed 27-08-2026)Show the evidence

Checked score

Score 2025
70 / 100
Healthy
Probability in this band: 0.55% to 1.5%
Financially better than 49% of its sector peers (NACE 38, small)
Every signal that counts is listed under Signals.
Financial strength · tick = 2024
Average
Solvency 58=
equity 33.5% of total assets
Liquidity 41-3
short-term debt 32.4% · cash 3.7%
Profitability 72+69
return on assets 2.5%
Bankruptcy probability, 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%

About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (200 companies, NACE 38, small)
Last 24 months 11-2024: 0.9% 12-2024: 0.9%● unchanged vs 11-2024 01-2025: 0.9%● unchanged vs 12-2024 02-2025: 0.9%● unchanged vs 01-2025 03-2025: 1.0%▲ +0.1 percentage points vs 02-2025 04-2025: 1.1%▲ +0.1 percentage points vs 03-2025 05-2025: 1.2%▲ +0.1 percentage points vs 04-2025 06-2025: 1.2%● unchanged vs 05-2025 07-2025: 1.4%▲ +0.2 percentage points vs 06-2025 08-2025: 2.1%▲ +0.7 percentage points vs 07-2025 09-2025: 2.1%● unchanged vs 08-2025 10-2025: 2.1%● unchanged vs 09-2025 11-2025: 2.1%● unchanged vs 10-2025 12-2025: 2.1%● unchanged vs 11-2025 01-2026: 2.1%● unchanged vs 12-2025 02-2026: 2.1%● unchanged vs 01-2026 03-2026: 2.4%▲ +0.3 percentage points vs 02-2026 04-2026: 2.5%▲ +0.1 percentage points vs 03-2026 05-2026: 2.6%▲ +0.1 percentage points vs 04-2026 06-2026: 2.6%● unchanged vs 05-2026 07-2026: 2.7%▲ +0.1 percentage points vs 06-2026 08-2026: 3.7%▲ +1.0 percentage point vs 07-2026highest value 09-2026: 0.7%▼ -3.0 percentage points vs 08-2026 10-2026: 0.6%▼ -0.1 percentage points vs 09-2026lowest value
Credit of up to €70,000 on 30-day terms is acceptable
Liquidity tight (current ratio 1.23, compared with 1.06 in 2024, below the usual 1.5; short-term debt: 32.4% and cash: 3.7% of total assets), and 66.5% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 38, small): better than 45% on solvency, 36% on liquidity, 56% on profitability and 58% on growth.

The bankruptcy probability was computed on 26-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.
lowers riskraises risk
lowers risk · Founded in 2003
Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.
KBO
raises risk · Size: 37.3 FTE, total assets €3.0m
Companies of this size fail more often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
lowers risk · Figures for financial year 2025 (filed 27-08-2026)
NBB · annual accounts
raises risk · Liquidity: current ratio 1.23, cash €110,155
NBB · annual accounts
raises risk · 2025 accounts filed 25 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filings
Deviation from the deadline
2025
25 days late
2024
28 days late
2023
12 days early
2022
14 days early
2021
26 days early
2020
22 days early
2019
2 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 3 days before the deadline; the sector median (NACE 38) for financial year 2024 is 8 days before the deadline, and 32% 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 20 July (4 of the last 5 filed years within 36 days of that day).
Companies Code · seven months
Where today falls in the filing period
27-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Reappointments: Jean-Baptiste Verjans, Simon Lepage and…Gazette deed
  2. Annual accounts filedfinancial year 2025 · abbreviated…
  3. Back to profitnet €74,990

Key points

  • Positive: Back in profit in 2025after -€380,686 in 2024 €74,990 View
  • Board changedlatest change 30-06-2026 · 2 in office 3 joined · 1 left View
  • Controlled by TERRE asblknown shareholders 100% 99.2% View
  • Among the largest 9% on gross marginsector median €407,795 · 251 companies €1.9m View

By topic

Financials

Financial year
2025
Total assets
€3.0m
Profit
€74,990
Solvency
33.5%
Total assets▲ 4.5%
Net result
20182025
Go to Financials

Board & ownership

Board
2 members
Parent
TERRE asbl · 99.2%
Known shareholders
100%
Auditor
Axylium Audit - Liège…
  • LECROND CorradoDirector
  • LEPAGE SimonDirector
Go to Board & ownership

Timeline

Events
29
Since
2005
Next accounts
by 31-07-2027
  1. 31-12-2025Equity above €1m
  2. 20-11-2025Resignation: Fabio Taibi (director)
  3. 28-08-2025Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Cooperative company
Activity
Materials recovery from wasteNACE 38210
Founded
25-11-2003
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Key facts about TerTex

What is the company number of TerTex?
0861.833.122. In Belgium the VAT number is the company number with BE in front: BE 0861.833.122.
Where is TerTex based?
The registered office is at Rue de Milmort 690, 4040 Herstal.Company details
What does TerTex do?
According to the KBO register, the main activity is materials recovery from waste (NACE 38210).
What is the legal form of TerTex?
Cooperative company (CV).
When was TerTex founded?
On 25-11-2003.
Is TerTex still active?
Yes, TerTex is an active enterprise in the KBO register.
How many employees does TerTex have?
On average 37.3 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of TerTex?
Not stated in the processed annual accounts. The abridged format for small companies does not require turnover.
Is TerTex profitable?
In financial year 2025, TerTex made a profit of €74,990.
Where can I find the annual accounts of TerTex?
TerTex filed 22 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of TerTex due?
By 31-07-2027, for financial year 2026.Timeline

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