Terts
ActiveSummary
Terts has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €78k and a net result of €31k. Equity is growing by ~61.4% per year across the filed fiscal years. Its solvency ranks better than 25% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability62▲+21
Solvency32▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days acceptable
Liquidity short (current ratio 0.01 against 0.0 in 2024; short-term debt: 40.2% and cash: 0.1% of total assets), and 93.4% 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 · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
6.6%
Return on assets
2.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 9234 sector peers (2025).
NBB · sector comparisonPosition among 9234 sector peers
Solvency
better than 25%
← 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 29-05-2026, 63 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
63 d early
2024
149 d early
2023
127 d early
2022
143 d early
2021
53 d early
2020
31 d late
← 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, abbreviated schema
Equity
€78k▲ 67.2%
2024 · €47k
2020: €-63klowest in 6 years
2021: €-16k▲ +74.7% vs 2020
2022: €14k▲ +188% vs 2021
2023: €33k▲ +139% vs 2022
2024: €47k▲ +40.1% vs 2023
2025: €78k▲ +67.2% vs 2024highest in 6 years
2020 → 2025
Total assets
€1.19M▼ 2.3%
2024 · €1.22M
2020: €1.03Mlowest in 6 years
2021: €1.31M▲ +27.0% vs 2020highest in 6 years
2022: €1.27M▼ -3.2% vs 2021
2023: €1.25M▼ -1.7% vs 2022
2024: €1.22M▼ -2.2% vs 2023
2025: €1.19M▼ -2.3% vs 2024
2020 → 2025
Net result
€31k▲ 135%
2024 · €13k
2020: €-69klowest in 6 years
2021: €47k▲ +168% vs 2020highest in 6 years
2022: €30k▼ -36.1% vs 2021
2023: €19k▼ -35.1% vs 2022
2024: €13k▼ -30.9% vs 2023
2025: €31k▲ +135% vs 2024
2020 → 2025
Working capital
€-475k▼ 4.3%
2024 · €-455k
2020: €-204khighest in 6 years
2021: €-412k▼ -103% vs 2020
2022: €-426k▼ -3.2% vs 2021
2023: €-440k▼ -3.3% vs 2022
2024: €-455k▼ -3.6% vs 2023
2025: €-475k▼ -4.3% vs 2024lowest in 6 years
2020 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-16k-€14k€33k▲ 139%€47k▲ 40.1%€78k▲ 67.2%
2021: €-16klowest in 5 years
2022: €14k▲ +188% vs 2021
2023: €33k▲ +139% vs 2022
2024: €47k▲ +40.1% vs 2023
2025: €78k▲ +67.2% vs 2024highest in 5 years
Operating result€46k-€43k▼ 6.6%€41k▼ 5.5%€42k▲ 4.4%€47k▲ 11.2%
2021: €46k
2022: €43k▼ -6.6% vs 2021
2023: €41k▼ -5.5% vs 2022lowest in 5 years
2024: €42k▲ +4.4% vs 2023
2025: €47k▲ +11.2% vs 2024highest in 5 years
Net result€47k-€30k▼ 36.1%€19k▼ 35.1%€13k▼ 30.9%€31k▲ 135%
2021: €47khighest in 5 years
2022: €30k▼ -36.1% vs 2021
2023: €19k▼ -35.1% vs 2022
2024: €13k▼ -30.9% vs 2023lowest in 5 years
2025: €31k▲ +135% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 11% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.19M
Fixed assets
€1.19M ▼ 2.4%
Current assets
€3k ▲ 74.0%
Equity and liabilities €1.19M
Equity
€78k ▲ 67.2%
Debt
€1.11M ▼ 5.1%
Debt's share of the balance-sheet total falls from 96.2% to 93.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€77k▲
2024 · €72k
Cash flow
€61k▲
2024 · €43k
Current ratio
0.01▲
2024 · 0.00
Debt to equity
14.21▼
2024 · 25.03
ROE
40.2%▲
2024 · 28.6%
ROA
2.6%▲
2024 · 1.1%
Interest coverage
4.85▲
2024 · 2.47
Debt ≤ 1 year
€478k▲
2024 · €457k
Debt > 1 year
€630k▼
2024 · €698k
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 · 35 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.22M€1.19M▼
Fixed assets21/28€1.22M€1.19M▼
Tangible fixed assets22/27€1.22M€1.19M▼
Land and buildings22€1.22M€1.19M▼
Current assets29/58€2k€3k▲
Amounts receivable within one year40/41€842€1k▲
Other amounts receivable41€842€1k▲
Cash at bank and in hand54/58€647€2k▲
Deferred charges and accrued income490/1€397€397=
Equity and liabilities
Total equity and liabilities10/49€1.22M€1.19M▼
Equity10/15€47k€78k▲
Contributions10/11€6k€6k=
Reserves13€40k€72k▲
Distributable reserves133€40k€72k▲
Amounts payable17/49€1.17M€1.11M▼
Amounts payable after more than one year17€698k€630k▼
Financial debts170/4€698k€630k▼
Amounts payable within one year42/48€457k€478k▲
Current portion of amounts payable after more than one year42€67k€68k▲
Trade debts44€6k-
Suppliers440/4€6k-
Other amounts payable47/48€384k€410k▲
Accrued charges and deferred income492/3€16k€4k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€29k€29k=
Other operating charges640/8€7k€8k▲
Gross operating margin9900€79k€84k▲
Operating profit (loss)9901€42k€47k▲
Financial charges65/66B€29k€16k▼
Recurring financial charges65€29k€16k▼
Profit (loss) for the period before taxes9903€13k€31k▲
Profit (loss) for the period9904€13k€31k▲
Profit (loss) for the period to be appropriated9905€13k€31k▲
Appropriation of the result
Profit (loss) to be appropriated9906€13k€31k▲
Transfer to equity691/2€13k€31k▲
To other reserves6921€13k€31k▲
The notes to these accounts (12 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 | €5k | €29k | €29k | €29k | €29k | = |
| Other operating charges640/8 | €468 | €8k | €7k | €7k | €8k | ▲ 3.2% |
| Gross operating margin9900 | €52k | €80k | €77k | €79k | €84k | ▲ 6.3% |
| Operating profit (loss)9901 | €46k | €43k | €41k | €42k | €47k | ▲ 11.2% |
| Financial income75/76B | €1k | - | - | - | - | - |
| Recurring financial income75 | €1k | - | - | - | - | - |
| Financial charges65/66B | €652 | €13k | €21k | €29k | €16k | ▼ 45.7% |
| Recurring financial charges65 | €652 | €13k | €21k | €29k | €16k | ▼ 45.7% |
| Profit (loss) for the period before taxes9903 | €47k | €30k | €19k | €13k | €31k | ▲ 135% |
| Profit (loss) for the period9904 | €47k | €30k | €19k | €13k | €31k | ▲ 135% |
| Profit (loss) for the period to be appropriated9905 | €47k | €30k | €19k | €13k | €31k | ▲ 135% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.31M | €1.27M | €1.25M | €1.22M | €1.19M | ▼ 2.3% |
| Fixed assets21/28 | €1.25M | €1.23M | €1.25M | €1.22M | €1.19M | ▼ 2.4% |
| Tangible fixed assets22/27 | €1.25M | €1.23M | €1.25M | €1.22M | €1.19M | ▼ 2.4% |
| Land and buildings22 | €1.25M | €1.23M | €1.25M | €1.22M | €1.19M | ▼ 2.4% |
| Current assets29/58 | €58k | €34k | €468 | €2k | €3k | ▲ 74.0% |
| Amounts receivable within one year40/41 | €41k | €32k | - | €842 | €1k | ▲ 45.6% |
| Trade receivables40 | €5k | - | - | - | - | - |
| Other amounts receivable41 | €36k | €32k | - | €842 | €1k | ▲ 45.6% |
| Cash at bank and in hand54/58 | €17k | €2k | €112 | €647 | €2k | ▲ 156% |
| Deferred charges and accrued income490/1 | - | €346 | €356 | €397 | €397 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.31M | €1.27M | €1.25M | €1.22M | €1.19M | ▼ 2.3% |
| Equity10/15 | €-16k | €14k | €33k | €47k | €78k | ▲ 67.2% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | - | €8k | €27k | €40k | €72k | ▲ 77.7% |
| Distributable reserves133 | - | €8k | €27k | €40k | €72k | ▲ 77.7% |
| Profit (loss) carried forward14 | €-22k | - | - | - | - | - |
| Amounts payable17/49 | €1.33M | €1.25M | €1.21M | €1.17M | €1.11M | ▼ 5.1% |
| Amounts payable after more than one year17 | €855k | €793k | €765k | €698k | €630k | ▼ 9.8% |
| Financial debts170/4 | €855k | €793k | €765k | €698k | €630k | ▼ 9.8% |
| Amounts payable within one year42/48 | €470k | €460k | €440k | €457k | €478k | ▲ 4.6% |
| Current portion of amounts payable after more than one year42 | €58k | €62k | €66k | €67k | €68k | ▲ 1.6% |
| Trade debts44 | €12k | €2k | €8k | €6k | - | - |
| Suppliers440/4 | €12k | €2k | €8k | €6k | - | - |
| Other amounts payable47/48 | €400k | €396k | €367k | €384k | €410k | ▲ 6.8% |
| Accrued charges and deferred income492/3 | - | - | €8k | €16k | €4k | ▼ 75.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €47k | €30k | €19k | €13k | €31k | ▲ 135% |
| + Depreciation and write-downs630 | €5k | €29k | €29k | €29k | €29k | = |
| Operating cash flow (approximation) | €52k | €59k | €49k | €43k | €61k | ▲ 42.2% |
| Investment in fixed assets (approximation) | - | €-11k | €-42k | €0 | €0 | - |
| Change in cash | - | €-15k | €-2k | €535 | €1k | ▲ 89.2% |
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
29-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
04-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
26-03
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
10-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
08-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €47k
Net result €47k after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Gent · 1 establishment unit since 2019
Ground area
1.1 ha
Building footprint
1,481 m²
Volume, LiDAR
24,099 m³
Parcel 44021A3679/00A000, Flanders · tallest building 21.3 m, ±5 floors. Linked by address, not a title deed.
18
companies at this address
See who is registered here
1 establishment unit
Terts
since 20192.286.539.626
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44021A3679/00A000 | Flanders | 1.1 ha | 1 · 1,481 m² | 21.3 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 12,020 companies in sector 68203 we hold annual accounts for 5,986. 3,556 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
Founded04-03-2019
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
Scores and ratios are computed by Checked and are not a credit decision.