Checked.be
Active
BE 0754.917.841Private limited company
TESPA
Industriepark 9 ·8730 Beernem, Belgium· 5 yrs active
Conclusion
The computed 12-month bankruptcy probability of TESPA is 3.4% (moderate). The 2025 annual accounts show negative equity (€-23k) and a net result of €-9k. Equity is shrinking by ~65.1% per year across the filed fiscal years. The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €-23k |
| Net result | €-9k |
| Active | 5 yrs |
| Locations | 1 |
Financial profile
57
/ 100
Mixed profile: strong on profitability, weaker on health.
All 5 axes are computed from data Checked has read.
Health
17
Profitability
100
Solvency
44
Growth
32
Stability
94
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
More than 3 years active
Founded in 2020, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
17
/ 100
Critical
Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
No credit
negative equity or figures too weak
Score history
30
2021
40
2022
17
2023
25
2024
17
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.96 (< 1.0)
-10
Quick ratio
Quick ratio 0.14 (< 0.6)
-5
Equity
Negative equity
-25
Profitability
ROE 38% (≥ 10%)
+10
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 23-07-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~65.1%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
€-9k
-100.2%
21-25
€277k
+15.3%
21-25
€-23k
-62.3%
21-25
€-12k
-106.3%
21-25
€300k
+18.0%
21-25
€289k
+17.5%
21-25
0.96
-1.9%
21-25
0.14
+643.0%
21-25
-8.4%
-40.7%
21-25
-12.89
+27.3%
21-25
38.4%
+23.4%
21-25
-3.2%
-73.6%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | - | - | - | - | - |
| Net profit | €-9k | €-4k | €-7k | €-6k | €-7k |
| Cash flow | - | - | - | - | - |
| Staff costs | - | - | - | - | - |
| Income taxes | - | - | - | - | - |
| Dividends | - | - | - | - | - |
| Total assets | €277k | €240k | €198k | €201k | €206k |
| Equity | €-23k | €-14k | €-10k | €-3k | €3k |
| Debt | €300k | €254k | €207k | €205k | €203k |
| of which ≤ 1y | €289k | €246k | €201k | €200k | €203k |
| of which > 1y | - | - | - | - | - |
| Working capital | €-12k | €-6k | €-4k | €969 | €3k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.96 | 0.98 | 0.98 | 1.00 | 1.01 |
| Quick ratio | 0.14 | 0.02 | 0.34 | 0.36 | 0.08 |
| Working capital ratio | -4.4% | -2.5% | -1.8% | 0.5% | 1.4% |
| Solvency | -8.4% | -6.0% | -5.0% | -1.6% | 1.4% |
| Debt / equity | -12.89 | -17.73 | -20.98 | -62.55 | 72.45 |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | - | - | - | - | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | -3.2% | -1.9% | -3.3% | -3.0% | -3.5% |
| ROE | 38.4% | 31.1% | 66.9% | 185.6% | -257.2% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Full annual accounts (17 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €277k | €240k | €198k | €201k | €206k |
| Current assets | 29/58 | €277k | €240k | €198k | €201k | €206k |
| Stocks & contracts in progress | 3 | €235k | €235k | €128k | €128k | €189k |
| Cash & bank | 54/58 | €42k | €5k | €69k | €73k | €16k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €277k | €240k | €198k | €201k | €206k |
| Equity | 10/15 | €-23k | €-14k | €-10k | €-3k | €3k |
| Contributions / capital | 10/11 | €10k | €10k | €10k | €10k | €10k |
| Accumulated profits (losses) | 14 | €-33k | €-24k | €-20k | €-13k | €-7k |
| Amounts payable | 17/49 | €300k | €254k | €207k | €205k | €203k |
| Amounts payable within one year | 42/48 | €289k | €246k | €201k | €200k | €203k |
| Trade debts payable within one year | 44 | €138 | €0 | €1k | €273 | €3k |
| Income statement | ||||||
| Gross operating margin | 9900 | €-5k | €-2k | €-4k | €-958 | €-6k |
| Operating result | 9901 | €-6k | €-2k | €-5k | €-2k | €-7k |
| Financial charges | 65 | €3k | €2k | €2k | €4k | €474 |
| Result before taxes | 9903 | €-9k | €-4k | €-7k | €-6k | €-7k |
| Net result for the period | 9904 | €-9k | €-4k | €-7k | €-6k | €-7k |
| Result to be appropriated | 9905 | €-9k | €-4k | €-7k | €-6k | €-7k |
Legal Structure
| NACE primary | - |
| Legal form | Private limited company(610) |
| Incorporation | 25-09-2020 |
| Status | Active |
| Postal code | 8730 |
Establishment units
TESPA
since 20202.309.289.688
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31003D0079/00T000 | Flanders | 743 m² | 1 · 378 m² | 9.6 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-9k
Net result drops to €-9k, the lowest in the series.
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
22-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
08-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 8 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Names & trade names
| Legal nameNL | TESPA |