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Terval

Active
Public limited companyfounded 198144 yrs activeRue de l'Ile-Monsin 129, 4020 Liège, BelgiumKBO/BCE: BE 0422.252.876
Summary

Terval has been active since 1981 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €29.4m and a net result of €5.7m. Equity is growing by ~14.9% per year across the filed fiscal years. Its solvency ranks better than 41% of 5046 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Checked score

Score 2025
Axes · tick = 2024
Profitability68▼-17
Solvency63▲+3
Growth45▼-12
Track record100
Bankruptcy probability, 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,950,000 at 30 days acceptable
Liquidity ample (current ratio 2.47 against 3.15 in 2024; short-term debt: 34.2% and cash: 9.6% of total assets), but 62.4% of the assets are financed with debt.
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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 44 years 0 50 y
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
37.6%
Return on assets
7.3%
Age of the figures
9 mo
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies more bankruptcies →
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
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 07-07-2026, 24 days ahead of the deadline.
NBB · 9 filings
Deviation from the deadline
2025
24 d early
2024
29 d early
2023
33 d early
2022
39 d early
2021
19 d early
2020
31 d early
2019
36 d 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 30 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.

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. Usually files around 2 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 8 December 1981, Terval was incorporated.1 Revenue went from EUR 145 million in 2018 to EUR 136 million in 2025 and headcount from 32.8 to 30.6 full-time equivalents.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2025

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Financials · fiscal year 2025, full schema, statutory accounts

Turnover
€135.9m▲ 27.7%
2024 · €106.4m
EBIT margin
6.8%▼ 7.1pp
2024 · 13.9%
Net result
€5.7m▼ 48.4%
2024 · €11.1m
Working capital
€39.2m▼ 5.2%
2024 · €41.3m
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20212022202320242025
Turnover€152.1m▲ 81.2%€402.9m▲ 165%€163.2m▼ 59.5%€106.4m▼ 34.8%€135.9m▲ 27.7%
Operating result€27.9m▲ 220%€36.9m▲ 32.2%€19.2m▼ 47.8%€14.8m▼ 23.1%€9.3m▼ 37.2%
Net result€32.1mabove the sector's middle half▲ 364%€43.9mabove the sector's middle half▲ 36.6%€20.4mabove the sector's middle half▼ 53.5%€11.1mabove the sector's middle half▼ 45.4%€5.7mabove the sector's middle half▼ 48.4%
EBIT margin18.4%▲ 8.0pp9.2%▼ 9.2pp11.8%▲ 2.6pp13.9%▲ 2.1pp6.8%▼ 7.1pp
Equity€44.6mabove the sector's middle half▲ 258%€18.5mabove the sector's middle half▼ 58.5%€32.8mabove the sector's middle half▲ 77.1%€24.7mabove the sector's middle half▼ 24.8%€29.4mabove the sector's middle half▲ 19.2%
Total assets€86.2mabove the sector's middle half▲ 99.5%€156.4mabove the sector's middle half▲ 81.5%€68.7mabove the sector's middle half▼ 56.1%€70.3mabove the sector's middle half▲ 2.4%€78.1mabove the sector's middle half▲ 11.1%
Debt€39.3m▲ 37.8%€135.6m▲ 245%€34.7m▼ 74.4%€44.4m▲ 27.8%€48.7m▲ 9.8%
Working capital€49.2mabove the sector's middle half▲ 170%€24.4mabove the sector's middle half▼ 50.3%€50.5mabove the sector's middle half▲ 107%€41.3mabove the sector's middle half▼ 18.1%€39.2mabove the sector's middle half▼ 5.2%
Solvency51.8%within the sector's middle half▲ 22.9pp11.8%below the sector's middle half▼ 39.9pp47.7%within the sector's middle half▲ 35.9pp35.1%within the sector's middle half▼ 12.7pp37.6%within the sector's middle half▲ 2.6pp
Current ratio2.51within the sector's middle half▲ 0.641.19within the sector's middle half▼ 1.326.39above the sector's middle half▲ 5.203.15above the sector's middle half▼ 3.242.47within the sector's middle half▼ 0.69
Return on assets (ROA)37.3%above the sector's middle half▲ 21.3pp28.1%above the sector's middle half▼ 9.2pp29.7%above the sector's middle half▲ 1.6pp15.8%above the sector's middle half▼ 13.9pp7.3%within the sector's middle half▼ 8.5pp
Staff (FTE)32.8above the sector's middle half▼ 2.1%35.1above the sector's middle half▲ 7.0%37above the sector's middle half▲ 5.4%34above the sector's middle half▼ 8.1%30.6above the sector's middle half▼ 10.0%
above within below the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
€0€20.0m€40.0mOperating result 2021: €27.9m€27.9mNet result 2021: €32.1m€32.1mOperating result 2022: €36.9m€36.9mNet result 2022: €43.9m€43.9mOperating result 2023: €19.2m€19.2mNet result 2023: €20.4m€20.4mOperating result 2024: €14.8m€14.8mNet result 2024: €11.1m€11.1mOperating result 2025: €9.3m€9.3mNet result 2025: €5.7m€5.7m20212022202320242025€0€10m€20mOperating result 2023: €19.2m€19mNet result 2023: €20.4m€20mOperating result 2024: €14.8m€15mNet result 2024: €11.1m€11mOperating result 2025: €9.3m€9.3mNet result 2025: €5.7m€5.7m202320242025
The operating result has fallen three years in a row; 2025 is 37% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €78.1m
Fixed assets €12.2m ▲ 24.2%
Current assets €65.9m ▲ 9.0%
Equity and liabilities €78.1m
Equity €29.4m ▲ 19.2%
Provisions €0 ▼ 100%
Debt €48.7m ▲ 9.8%
Debt's share of the balance-sheet total falls from 63.1% to 62.4%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€9.6m▼
2024 · €15.2m
Cash flow
€6.1m▼
2024 · €11.5m
Quick ratio
1.39▼
2024 · 1.61
Debt to equity
1.66▼
2024 · 1.80
ROE
19.5%▼
2024 · 45.1%
Interest coverage
7.84▼
2024 · 12.28
Debt ≤ 1 year
€26.7m▲
2024 · €19.2m
Debt > 1 year
€21.6m▼
2024 · €24.6m
Income taxes
€1.5m▼
2024 · €3.7m
Staff costs
€2.5m▲
2024 · €2.5m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 20,129 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.

  • Small
  • 20 years or older
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
0.2% went bankrupt
4.7% stopped otherwise
95% still going

For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.4%
3 0.5% 0.5%
4 0.6% 0.7%
5 0.8% 0.9%
6 1.2% 1.3%
7 1.5% 1.7%
8 1.7% 1.7%
9 2.7% 2.8%
10 5.3% 5.7%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 20,129 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 96 lines
Balance sheet Code20242025
Assets
Total assets20/58€70.3m€78.1m▲
Fixed assets21/28€9.8m€12.2m▲
Intangible fixed assets21-€0
Tangible fixed assets22/27€2.0m€4.6m▲
Land and buildings22-€0
Plant, machinery and equipment23€43,509€28,402▼
Furniture and vehicles24€176,516€90,453▼
Other tangible fixed assets26€1.6m€2.3m▲
Assets under construction and advance payments27€139,653€2.2m▲
Financial fixed assets28€7.8m€7.6m▼
Affiliated companies280/1€6.8m€6.8m=
Participating interests280€6.8m€6.8m=
Other financial fixed assets284/8€991,603€787,224▼
Amounts receivable and cash guarantees285/8€991,603€787,224▼
Current assets29/58€60.5m€65.9m▲
Stocks and contracts in progress3€29.6m€28.8m▼
Stocks30/36€29.6m€28.8m▼
Goods purchased for resale34€29.6m€28.8m▼
Amounts receivable within one year40/41€26.0m€29.6m▲
Trade receivables40€26.0m€27.4m▲
Other amounts receivable41€35,808€2.2m▲
Current investments50/53€17,706€3,454▼
Other investments51/53€17,706€3,454▼
Cash at bank and in hand54/58€4.5m€7.5m▲
Deferred charges and accrued income490/1€341,577€33,632▼
Equity and liabilities
Total equity and liabilities10/49€70.3m€78.1m▲
Equity10/15€24.7m€29.4m▲
Contributions10/11€1.2m€1.2m=
Capital10€1.2m€1.2m=
Issued capital100€1.2m€1.2m=
Reserves13€23.1m€28.1m▲
Non-distributable reserves130/1€123,947€123,947=
Legal reserve130€123,947€123,947=
Tax-exempt reserves132€1.0m€1.0m=
Distributable reserves133€22.0m€27.0m▲
Profit (loss) carried forward14€295,484€34,482▼
Provisions and deferred taxes16€1.3m€0▼
Provisions for liabilities and charges160/5€1.3m€0▼
Other liabilities and charges164/5€1.3m€0▼
Amounts payable17/49€44.4m€48.7m▲
Amounts payable after more than one year17€24.6m€21.6m▼
Financial debts170/4€4.6m€6.6m▲
Subordinated loans170€4.6m€4.6m=
Credit institutions173-€2.0m
Other amounts payable178/9€20.0m€15.0m▼
Amounts payable within one year42/48€19.2m€26.7m▲
Current portion of amounts payable after more than one year42-€503,107
Financial debts43€6.2m€5.5m▼
Credit institutions430/8€6.2m€5.5m▼
Trade debts44€10.0m€20.3m▲
Suppliers440/4€10.0m€20.3m▲
Taxes, remuneration and social security45€500,619€455,064▼
Taxes450/3€234,072€180,266▼
Remuneration and social security454/9€266,548€274,798▲
Other amounts payable47/48€2.5m€0▼
Accrued charges and deferred income492/3€592,357€350,201▼
Income statement Code20242025
Operating income70/76A€106.5m€135.9m▲
Turnover70€106.4m€135.9m▲
Other operating income74€62,413€23,919▼
Operating charges60/66A€91.7m€126.7m▲
Goods for resale, raw materials and consumables60€84.4m€119.0m▲
Purchases600/8€92.3m€118.2m▲
Change in stocks: decrease (increase)609-€7.9m€800,104▲
Services and other goods61€3.7m€4.5m▲
Remuneration, social security and pensions62€2.5m€2.5m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€414,421€332,494▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€475,444€6,114▼
Other operating charges640/8€223,538€327,694▲
Operating profit (loss)9901€14.8m€9.3m▼
Financial income75/76B€2.3m€320,915▼
Recurring financial income75€2.3m€320,915▼
Income from financial fixed assets750-€0
Income from current assets751€307,508€92,724▼
Other financial income752/9€2.0m€228,191▼
Financial charges65/66B€2.3m€2.3m▲
Recurring financial charges65€2.3m€2.3m▲
Debt charges650€1.2m€1.2m▼
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651-€1.1m€0▲
Other financial charges652/9€2.2m€1.1m▼
Profit (loss) for the period before taxes9903€14.8m€7.3m▼
Income taxes67/77€3.7m€1.5m▼
Taxes670/3€3.7m€1.5m▼
Tax adjustments and reversals of tax provisions77€81,436-
Profit (loss) for the period9904€11.1m€5.7m▼
Transfer to tax-exempt reserves689€1.0m-
Profit (loss) for the period to be appropriated9905€10.1m€5.7m▼
Appropriation of the result
Profit (loss) to be appropriated9906€10.5m€6.0m▼
Profit (loss) brought forward from the previous period14P€412,011€295,484▼
Transfer from equity791/2€19.0m€1.0m▼
From reserves792€19.0m€1.0m▼
Transfer to equity691/2€10.0m€6.0m▼
To other reserves6921€10.0m€6.0m▼
Profit to be distributed694/7€19.2m€1.0m▼
Return on contributions (dividend)694€19.0m€1.0m▼
Employees696€248,222-
Social balance
Average headcount (FTE)908734.030.6▼

The notes to these accounts (88 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Operating income70/76A€152.4m€403.0m€163.3m€106.5m€135.9m▲ 27.7%
Turnover70€152.1m€402.9m€163.2m€106.4m€135.9m▲ 27.7%
Other operating income74€298,308€131,735€85,921€62,413€23,919▼ 61.7%
Operating charges60/66A€124.4m€366.1m€144.0m€91.7m€126.7m▲ 38.2%
Goods for resale, raw materials and consumables60€117.6m€348.1m€141.4m€84.4m€119.0m▲ 40.9%
Purchases600/8€139.0m€375.3m€108.1m€92.3m€118.2m▲ 28.0%
Change in stocks: decrease (increase)609-€21.4m-€27.2m€33.4m-€7.9m€800,104▲ 110%
Services and other goods61€4.1m€6.0m€4.3m€3.7m€4.5m▲ 22.8%
Remuneration, social security and pensions62€2.1m€2.4m€2.4m€2.5m€2.5m▲ 1.8%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€268,159€275,818€342,424€414,421€332,494▼ 19.8%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€52,814€9.0m-€4.7m€475,444€6,114▼ 98.7%
Other operating charges640/8€273,120€262,469€230,034€223,538€327,694▲ 46.6%
Operating profit (loss)9901€27.9m€36.9m€19.2m€14.8m€9.3m▼ 37.2%
Financial income75/76B€16.6m€26.8m€11.4m€2.3m€320,915▼ 86.0%
Recurring financial income75€16.6m€26.8m€11.4m€2.3m€320,915▼ 86.0%
Income from financial fixed assets750€0€0--€0-
Income from current assets751€1.3m€148,192€218,811€307,508€92,724▼ 69.8%
Other financial income752/9€15.4m€26.7m€11.1m€2.0m€228,191▼ 88.5%
Financial charges65/66B€1.3m€5.0m€3.7m€2.3m€2.3m▲ 1.9%
Recurring financial charges65€1.3m€5.0m€3.7m€2.3m€2.3m▲ 1.9%
Debt charges650€219,981€983,528€861,329€1.2m€1.2m▼ 1.0%
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651-€50,000---€1.1m€0▲ 100%
Other financial charges652/9€1.1m€4.0m€2.9m€2.2m€1.1m▼ 49.4%
Profit (loss) for the period before taxes9903€43.3m€58.7m€26.9m€14.8m€7.3m▼ 50.8%
Income taxes67/77€11.2m€14.8m€6.5m€3.7m€1.5m▼ 58.1%
Taxes670/3€11.2m€14.8m€6.5m€3.7m€1.5m▼ 59.0%
Tax adjustments and reversals of tax provisions77---€81,436--
Profit (loss) for the period9904€32.1m€43.9m€20.4m€11.1m€5.7m▼ 48.4%
Transfer to tax-exempt reserves689---€1.0m--
Profit (loss) for the period to be appropriated9905€32.1m€43.9m€20.4m€10.1m€5.7m▼ 43.4%
Line20212022202320242025Change
Assets
Total assets20/58€86.2m€156.4m€68.7m€70.3m€78.1m▲ 11.1%
Fixed assets21/28€4.5m€2.4m€8.8m€9.8m€12.2m▲ 24.2%
Intangible fixed assets21€100,806€95,438€92,686-€0-
Tangible fixed assets22/27€1.3m€1.5m€1.9m€2.0m€4.6m▲ 130%
Land and buildings22€562,320€524,004€568,349-€0-
Plant, machinery and equipment23€427,250€694,734€1.1m€43,509€28,402▼ 34.7%
Furniture and vehicles24€307,458€280,966€260,419€176,516€90,453▼ 48.8%
Other tangible fixed assets26---€1.6m€2.3m▲ 40.7%
Assets under construction and advance payments27---€139,653€2.2m▲ 1,444%
Financial fixed assets28€3.1m€839,205€6.8m€7.8m€7.6m▼ 2.6%
Affiliated companies280/1€4,827€4,827€6.0m€6.8m€6.8m=
Participating interests280€4,827€4,827€6.0m€6.8m€6.8m=
Other financial fixed assets284/8€3.1m€834,379€803,639€991,603€787,224▼ 20.6%
Amounts receivable and cash guarantees285/8€3.1m€834,379€803,639€991,603€787,224▼ 20.6%
Current assets29/58€81.7m€154.0m€59.9m€60.5m€65.9m▲ 9.0%
Stocks and contracts in progress3€32.7m€50.9m€22.2m€29.6m€28.8m▼ 2.7%
Stocks30/36€32.7m€50.9m€22.2m€29.6m€28.8m▼ 2.7%
Goods purchased for resale34€32.7m€50.9m€22.2m€29.6m€28.8m▼ 2.7%
Amounts receivable within one year40/41€42.5m€81.7m€21.8m€26.0m€29.6m▲ 13.5%
Trade receivables40€42.4m€76.0m€21.3m€26.0m€27.4m▲ 5.3%
Other amounts receivable41€58,266€5.7m€443,007€35,808€2.2m▲ 6,006%
Current investments50/53€0€4,954€21,222€17,706€3,454▼ 80.5%
Other investments51/53-€4,954€21,222€17,706€3,454▼ 80.5%
Cash at bank and in hand54/58€4.4m€21.3m€15.8m€4.5m€7.5m▲ 67.3%
Deferred charges and accrued income490/1€2.0m€87,702€49,798€341,577€33,632▼ 90.2%
Equity and liabilities
Total equity and liabilities10/49€86.2m€156.4m€68.7m€70.3m€78.1m▲ 11.1%
Equity10/15€44.6m€18.5m€32.8m€24.7m€29.4m▲ 19.2%
Contributions10/11€1.2m€1.2m€1.2m€1.2m€1.2m=
Capital10€1.2m€1.2m€1.2m€1.2m€1.2m=
Issued capital100€1.2m€1.2m€1.2m€1.2m€1.2m=
Reserves13€43.3m€17.1m€31.1m€23.1m€28.1m▲ 21.6%
Non-distributable reserves130/1€123,947€123,947€123,947€123,947€123,947=
Legal reserve130€123,947€123,947€123,947€123,947€123,947=
Tax-exempt reserves132---€1.0m€1.0m=
Distributable reserves133€43.2m€17.0m€31.0m€22.0m€27.0m▲ 22.7%
Profit (loss) carried forward14€41,950€141,436€412,011€295,484€34,482▼ 88.3%
Provisions and deferred taxes16€2.2m€2.3m€1.2m€1.3m€0▼ 100%
Provisions for liabilities and charges160/5€2.2m€2.3m€1.2m€1.3m€0▼ 100%
Other liabilities and charges164/5€2.2m€2.3m€1.2m€1.3m€0▼ 100%
Amounts payable17/49€39.3m€135.6m€34.7m€44.4m€48.7m▲ 9.8%
Amounts payable after more than one year17€6.4m€5.4m€24.6m€24.6m€21.6m▼ 12.1%
Financial debts170/4€6.4m€5.4m€4.6m€4.6m€6.6m▲ 43.8%
Subordinated loans170€4.6m€4.6m€4.6m€4.6m€4.6m=
Leasing and similar obligations172€0-----
Credit institutions173€1.8m€750,000--€2.0m-
Other amounts payable178/9--€20.0m€20.0m€15.0m▼ 25.0%
Amounts payable within one year42/48€32.5m€129.5m€9.4m€19.2m€26.7m▲ 39.4%
Current portion of amounts payable after more than one year42€1.1m€1.1m€750,000-€503,107-
Financial debts43€11.1m€42.7m-€6.2m€5.5m▼ 10.8%
Credit institutions430/8€11.1m€42.7m-€6.2m€5.5m▼ 10.8%
Trade debts44€8.5m€15.2m€8.1m€10.0m€20.3m▲ 102%
Suppliers440/4€8.5m€15.2m€8.1m€10.0m€20.3m▲ 102%
Taxes, remuneration and social security45€4.8m€542,760€556,795€500,619€455,064▼ 9.1%
Taxes450/3€4.5m€181,747€247,118€234,072€180,266▼ 23.0%
Remuneration and social security454/9€289,241€361,014€309,677€266,548€274,798▲ 3.1%
Other amounts payable47/48€7.0m€70.0m€3,192€2.5m€0▼ 100%
Accrued charges and deferred income492/3€479,815€738,620€750,559€592,357€350,201▼ 40.9%
Line20212022202320242025Change
Profit (loss) for the period9904€32.1m€43.9m€20.4m€11.1m€5.7m▼ 48.4%
+ Depreciation and write-downs630€268,159€275,818€342,424€414,421€332,494▼ 19.8%
Operating cash flow (approximation)€32.4m€44.2m€20.7m€11.5m€6.1m▼ 47.4%
Investment in fixed assets (approximation)-€1.8m-€6.7m-€1.4m-€2.7m▼ 96.7%
Change in cash-€16.8m-€5.5m-€11.3m€3.0m▲ 127%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
24-07
NBB filing Annual accounts filed
fiscal year 2025 · consolidated
07-07
NBB filing Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial Weakest financial yearnet €5.7m ▼48.4%
Net result drops to €5.7m, the lowest in the series.
31-12
Financial Equity above €25mEq €29.4m ▲19.2%
8 profitable years in a row build equity to €29.4m.
02-07
NBB filing Annual accounts filed
fiscal year 2024 · full schema
2024
28-06
NBB filing Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial Liquidity times 5current ratio 6.39
Current ratio from 1.19 to 6.39; short-term debt falls from €129.5m to €9.4m.
31-12
Financial Equity above €25mEq €32.8m ▲77.1%
6 profitable years in a row build equity to €32.8m.
22-06
NBB filing Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial Highest result since 2018net €43.9m ▲36.6%
Operating result €36.9m, net result €43.9m, both a record.
12-07
NBB filing Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial Equity above €25mEq €44.6m ▲258%
4 profitable years in a row build equity to €44.6m.
Show earlier events
30-06
NBB filing Annual accounts filed
fiscal year 2020 · full schema
2020
25-06
NBB filing Annual accounts filed
fiscal year 2019 · full schema
2019
28-06
NBB filing Annual accounts filed
fiscal year 2018 · full schema
2018
18-07
NBB filing Annual accounts filed
fiscal year 2017 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 16 acts read
About the unread acts

We know of 16 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
16 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, Liège · 1 establishment unit since 1981
seat establishment The establishment unit on the map
Ground area
3.2 ha
Building footprint
370 m²
Volume, LiDAR
1,381 m³
Parcel 62809A0651/00G002, Wallonia · tallest building 4.1 m, ±1 floor. Linked by address, not a title deed.
4 companies at this address See who is registered here
1 establishment unit
Rue de l'Ile-Monsin 129, 4020 Liège
Manufacture of fabricated metal products, except machinery and equipment
since 19812.035.307.943
1 parcel
Wallonia 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
62809A0651/00G002 Wallonia 3.2 ha 1 · 370 m² 4.1 m · 1 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.

Structure & network

Owners and holdings

3 owners · 2 holdings

Chain of control

  1. 2H Invest 51%
  2. Terval

Highest known parent: 2H Invest. The sources do not say who stands above it.

Owners 3

Stated earlier (2)

An older source named these owners; newer accounts no longer list them.

Holdings 2

According to the 2025 annual accounts of Terval and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Recognitions · licences · registrations

Legal Entity Identifier

549300G28VBUYSVFND18
live in the LEI register

Similar companies · same sector, comparable size

Of 840 companies in sector 46810 we hold annual accounts for 475. 79 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification
Legal formPublic limited company
Founded08-12-1981
Fiscal year end31-12
Activities, NACEBEL 2025
46810Wholesale of solid, liquid and gaseous fuels and related products
E-invoicing
Reachable via Peppol
Peppol ID 0208:0422252876
Also 9925:BE0422252876

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 28 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.