TES 77
ActiveSummary
The annual accounts of TES 77 for fiscal year 2025 show a net loss of 69% of the equity at the start of that year. The 2025 annual accounts show equity of €18k and a net result of €-40k. Equity is growing by ~3.4% per year across the filed fiscal years. Its solvency ranks better than 22% of 14128 sector peers (fiscal year 2025). The company has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability41▲+5
Solvency26▼-2
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.06 against 0.07 in 2024; short-term debt: 60.3% and cash: 3.8% of total assets), and 98.9% 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
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 · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-40k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 14128 sector peers (2025).
NBB · sector comparisonPosition among 14128 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-08-2026, 10 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
10 d late
2024
28 d late
2023
10 d late
2022
99 d early
2021
6 d early
2020
21 d late
2019
288 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, micro schema
Equity
€18k▼ 69.2%
2024 · €57k
2018: €-5klowest in 8 years
2019: €88k▲ +2019% vs 2018
2020: €76k▼ -14.3% vs 2019
2021: €99k▲ +31.6% vs 2020
2022: €112k▲ +13.1% vs 2021highest in 8 years
2023: €104k▼ -7.3% vs 2022
2024: €57k▼ -45.1% vs 2023
2025: €18k▼ -69.2% vs 2024
2018 → 2025
Total assets
€1.57M▼ 5.3%
2024 · €1.66M
2018: €189klowest in 8 years
2019: €743k▲ +294% vs 2018
2020: €797k▲ +7.3% vs 2019
2021: €779k▼ -2.4% vs 2020
2022: €751k▼ -3.5% vs 2021
2023: €1.73M▲ +130% vs 2022highest in 8 years
2024: €1.66M▼ -4.0% vs 2023
2025: €1.57M▼ -5.3% vs 2024
2018 → 2025
Net result
€-40k▲ 15.6%
2024 · €-47k
2018: €521
2019: €-57k▼ -11102% vs 2018lowest in 8 years
2020: €-13k▲ +78.0% vs 2019
2021: €24k▲ +289% vs 2020highest in 8 years
2022: €13k▼ -45.3% vs 2021
2023: €-8k▼ -163% vs 2022
2024: €-47k▼ -474% vs 2023
2025: €-40k▲ +15.6% vs 2024
2018 → 2025
Working capital
€-887k▼ 1.1%
2024 · €-877k
2019: €-16khighest in 7 years
2020: €-188k▼ -1097% vs 2019
2021: €-222k▼ -18.4% vs 2020
2022: €-220k▲ +1.0% vs 2021
2023: €-498k▼ -126% vs 2022
2024: €-877k▼ -76.2% vs 2023
2025: €-887k▼ -1.1% vs 2024lowest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€99k-€112k▲ 13.1%€104k▼ 7.3%€57k▼ 45.1%€18k▼ 69.2%
2021: €99k
2022: €112k▲ +13.1% vs 2021highest in 5 years
2023: €104k▼ -7.3% vs 2022
2024: €57k▼ -45.1% vs 2023
2025: €18k▼ -69.2% vs 2024lowest in 5 years
Operating result€32k-€22k▼ 30.6%€14k▼ 35.8%€-24k€-17k▲ 27.0%
2021: €32khighest in 5 years
2022: €22k▼ -30.6% vs 2021
2023: €14k▼ -35.8% vs 2022
2024: €-24k▼ -267% vs 2023lowest in 5 years
2025: €-17k▲ +27.0% vs 2024
Net result€24k-€13k▼ 45.3%€-8k€-47k▼ 474%€-40k▲ 15.6%
2021: €24khighest in 5 years
2022: €13k▼ -45.3% vs 2021
2023: €-8k▼ -163% vs 2022
2024: €-47k▼ -474% vs 2023lowest in 5 years
2025: €-40k▲ +15.6% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €17k in 2025 against €24k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.57M
Fixed assets
€1.51M ▼ 5.0%
Current assets
€60k ▼ 10.5%
Equity and liabilities €1.57M
Equity
€18k ▼ 69.2%
Debt
€1.55M ▼ 3.0%
Debt's share of the balance-sheet total rises from 96.5% to 98.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€67k▲
2024 · €58k
Cash flow
€45k▲
2024 · €35k
Current ratio
0.06▼
2024 · 0.07
Debt to equity
88.16▲
2024 · 27.95
ROE
-225.1%▼
2024 · -82.0%
ROA
-2.5%▲
2024 · -2.8%
Interest coverage
3.02▲
2024 · 2.50
Debt ≤ 1 year
€947k▲
2024 · €944k
Debt > 1 year
€607k▼
2024 · €656k
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 · 34 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.66M€1.57M▼
Fixed assets21/28€1.59M€1.51M▼
Tangible fixed assets22/27€1.59M€1.51M▼
Land and buildings22€1.14M€1.10M▼
Plant, machinery and equipment23€434k€398k▼
Furniture and vehicles24€14k€11k▼
Current assets29/58€67k€60k▼
Amounts receivable within one year40/41€15k-
Trade receivables40€15k-
Cash at bank and in hand54/58€52k€60k▲
Equity and liabilities
Total equity and liabilities10/49€1.66M€1.57M▼
Equity10/15€57k€18k▼
Contributions10/11€169k€169k=
Profit (loss) carried forward14€-111k€-151k▼
Amounts payable17/49€1.60M€1.55M▼
Amounts payable after more than one year17€656k€607k▼
Financial debts170/4€656k€607k▼
Amounts payable within one year42/48€944k€947k▲
Current portion of amounts payable after more than one year42€48k€50k▲
Taxes, remuneration and social security45€4k€4k▲
Taxes450/3€4k€4k▲
Other amounts payable47/48€892k€893k▲
Income statement
Code20242025
Non-recurring operating income76A€13k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€82k€85k▲
Other operating charges640/8€8k€11k▲
Gross operating margin9900€66k€79k▲
Operating profit (loss)9901€-24k€-17k▲
Financial charges65/66B€23k€22k▼
Recurring financial charges65€23k€22k▼
Profit (loss) for the period before taxes9903€-47k€-40k▲
Profit (loss) for the period9904€-47k€-40k▲
Profit (loss) for the period to be appropriated9905€-47k€-40k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-111k€-151k▼
Profit (loss) brought forward from the previous period14P€-64k€-111k▼
The notes to these accounts (6 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €1k | - | - | €13k | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29k | €30k | €47k | €82k | €85k | ▲ 3.4% |
| Other operating charges640/8 | €7k | €8k | €8k | €8k | €11k | ▲ 49.6% |
| Gross operating margin9900 | €68k | €60k | €70k | €66k | €79k | ▲ 19.6% |
| Operating profit (loss)9901 | €32k | €22k | €14k | €-24k | €-17k | ▲ 27.0% |
| Financial charges65/66B | €8k | €9k | €22k | €23k | €22k | ▼ 4.0% |
| Recurring financial charges65 | €8k | €9k | €22k | €23k | €22k | ▼ 4.0% |
| Profit (loss) for the period before taxes9903 | €24k | €13k | €-8k | €-47k | €-40k | ▲ 15.6% |
| Profit (loss) for the period9904 | €24k | €13k | €-8k | €-47k | €-40k | ▲ 15.6% |
| Profit (loss) for the period to be appropriated9905 | €24k | €13k | €-8k | €-47k | €-40k | ▲ 15.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €779k | €751k | €1.73M | €1.66M | €1.57M | ▼ 5.3% |
| Fixed assets21/28 | €760k | €730k | €1.57M | €1.59M | €1.51M | ▼ 5.0% |
| Tangible fixed assets22/27 | €760k | €730k | €1.57M | €1.59M | €1.51M | ▼ 5.0% |
| Land and buildings22 | €621k | €602k | €1.27M | €1.14M | €1.10M | ▼ 3.6% |
| Plant, machinery and equipment23 | €138k | €128k | €303k | €434k | €398k | ▼ 8.3% |
| Furniture and vehicles24 | - | - | - | €14k | €11k | ▼ 23.9% |
| Current assets29/58 | €19k | €22k | €156k | €67k | €60k | ▼ 10.5% |
| Amounts receivable within one year40/41 | €5k | €2k | €13k | €15k | - | - |
| Trade receivables40 | - | €920 | €13k | €15k | - | - |
| Other amounts receivable41 | €5k | €873 | - | - | - | - |
| Cash at bank and in hand54/58 | €14k | €20k | €143k | €52k | €60k | ▲ 14.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €779k | €751k | €1.73M | €1.66M | €1.57M | ▼ 5.3% |
| Equity10/15 | €99k | €112k | €104k | €57k | €18k | ▼ 69.2% |
| Contributions10/11 | €169k | €169k | €169k | €169k | €169k | = |
| Profit (loss) carried forward14 | €-69k | €-56k | €-64k | €-111k | €-151k | ▼ 35.6% |
| Amounts payable17/49 | €679k | €639k | €1.62M | €1.60M | €1.55M | ▼ 3.0% |
| Amounts payable after more than one year17 | €438k | €397k | €970k | €656k | €607k | ▼ 7.6% |
| Financial debts170/4 | €438k | €397k | €970k | €656k | €607k | ▼ 7.6% |
| Amounts payable within one year42/48 | €241k | €242k | €654k | €944k | €947k | ▲ 0.2% |
| Current portion of amounts payable after more than one year42 | €40k | €42k | €42k | €48k | €50k | ▲ 2.8% |
| Trade debts44 | €2k | €760 | €11k | - | - | - |
| Suppliers440/4 | €2k | €760 | €11k | - | - | - |
| Taxes, remuneration and social security45 | - | - | €26k | €4k | €4k | ▲ 2.6% |
| Taxes450/3 | - | - | €26k | €4k | €4k | ▲ 2.6% |
| Other amounts payable47/48 | €199k | €199k | €576k | €892k | €893k | ▲ 0.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24k | €13k | €-8k | €-47k | €-40k | ▲ 15.6% |
| + Depreciation and write-downs630 | €29k | €30k | €47k | €82k | €85k | ▲ 3.4% |
| Operating cash flow (approximation) | €53k | €43k | €39k | €35k | €45k | ▲ 28.9% |
| Investment in fixed assets (approximation) | - | €0 | €-890k | €-101k | €-4k | ▲ 95.6% |
| Change in cash | - | €6k | €123k | €-91k | €8k | ▲ 109% |
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
10-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 10 days late
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
10-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 10 days late
2023
23-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €100kEq €112k ▲13.1%
2 profitable years in a row build equity to €112k.
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €24k
Net result €24k after 2 loss-making years.
21-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 21 days late
15-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 288 days late
2019
31-12
Financial
Weakest financial yearnet €-57k
Net result drops to €-57k, the lowest in the series; recovery starts the following year.
19-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 19 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Beringen · 1 establishment unit since 2009
Ground area
2,144 m²
Building footprint
783 m²
2 parcels, Flanders. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
TES 44
since 20092.196.675.262
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71382D0645/00R002 | Flanders | 1,396 m² | 1 · 782 m² | - |
| 71382D0642/00W002 | Flanders | 747 m² | - | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 9,136 companies in sector 68201 we hold annual accounts for 6,765. 2,075 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
Founded07-12-2009
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
68110Buying and selling of own real estate
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.