TESTO
ActiveSummary
TESTO has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €3.7m and a net result of €860,792. Equity is growing by ~6.2% per year across the filed fiscal years. Its solvency ranks better than 89% of 5998 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability82▼-5
Solvency100=
Growth69=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €300,000 at 30 days acceptable
Liquidity ample (current ratio 4.16 against 4.45 in 2023; short-term debt: 17.3% and cash: 12.9% of total assets), and 19.1% of the assets are financed with debt.
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Signals
Five 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 dateAge against the risk zone
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 →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
80.9%
Return on assets
18.8%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 22-05-2025, 70 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
70 d early
2023
70 d early
2022
75 d early
2021
73 d early
2020
73 d early
2019
63 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 71 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 (1)
History
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Financials · fiscal year 2024, full schema
In the rankings
#5 employer in Ternat, Wholesale and retail trade sector#10 fastest grower in Ternat, Wholesale and retail trade sector
Turnover
€12.4m▲ 3.7%
2023 · €12.0m
EBIT margin
8.9%▼ 2.8pp
2023 · 11.7%
Net result
€860,792▼ 18.8%
2023 · €1.1m
Working capital
€2.5m▼ 24.1%
2023 · €3.3m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€10.0m▲ 3.5%€12.3m▲ 23.3%€11.3m▼ 8.1%€12.0m▲ 5.8%€12.4m▲ 3.7%
Operating result€1.2m▲ 1.2%€1.8m▲ 58.2%€1.5m▼ 18.6%€1.4m▼ 5.3%€1.1m▼ 21.4%
Net result€860,157▲ 7.9%€1.4m▲ 57.9%€1.1m▼ 18.7%€1.1m▼ 4.0%€860,792▼ 18.8%
EBIT margin11.5%▼ 0.3pp14.8%▲ 3.3pp13.1%▼ 1.7pp11.7%▼ 1.4pp8.9%▼ 2.8pp
Equity€3.4m▲ 33.6%€3.7m▲ 7.6%€4.8m▲ 30.1%€4.2m▼ 11.3%€3.7m▼ 12.7%
Total assets€4.6m▲ 28.7%€4.8m▲ 4.5%€5.8m▲ 19.9%€5.3m▼ 8.2%€4.6m▼ 14.2%
Debt€1.2m▲ 16.7%€1.2m▼ 4.0%€1.0m▼ 11.9%€1.1m▲ 6.3%€874,281▼ 20.0%
Working capital€2.5m▲ 63.5%€2.7m▲ 6.5%€3.8m▲ 39.8%€3.3m▼ 12.9%€2.5m▼ 24.1%
Staff (FTE)39.7▲ 7.0%41.7▲ 5.0%41.9▲ 0.5%41.5▼ 1.0%43▲ 3.6%
Why a figure moved sharply
- 2021 Net result +58% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2024 is 21% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €4.6m
Fixed assets
€1.3m ▲ 18.6%
Current assets
€3.3m ▼ 22.6%
Equity and liabilities €4.6m
Equity
€3.7m ▼ 12.7%
Debt
€874,281 ▼ 20.0%
Debt's share of the balance-sheet total falls from 20.5% to 19.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€1.3m▼
2023 · €1.6m
Cash flow
€1.1m▼
2023 · €1.3m
Current ratio
4.16▼
2023 · 4.45
Quick ratio
3.68▼
2023 · 4.08
Debt to equity
0.24▼
2023 · 0.26
ROE
23.3%▼
2023 · 25.0%
ROA
18.8%▼
2023 · 19.9%
Interest coverage
339.71▼
2023 · 509.48
Debt ≤ 1 year
€790,985▼
2023 · €955,755
Income taxes
€294,334▼
2023 · €381,398
Staff costs
€3.8m▲
2023 · €3.7m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,082 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 0.3% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| 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% | 1.6% |
| 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 74% 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 20,082 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
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | €11.6m | €12.2m | €12.6m | ▲ 3.3% |
| Turnover70 | €10.0m | €12.3m | €11.3m | €12.0m | €12.4m | ▲ 3.7% |
| Other operating income74 | - | - | €215,857 | €202,532 | €160,568 | ▼ 20.7% |
| Operating charges60/66A | - | - | €10.1m | €10.8m | €11.5m | ▲ 6.5% |
| Goods, raw materials, services and sundry goods60/61 | - | €7.1m | - | - | - | - |
| Goods for resale, raw materials and consumables60 | - | - | €5.5m | €5.9m | €6.4m | ▲ 8.0% |
| Purchases600/8 | - | - | €5.6m | €5.9m | €6.4m | ▲ 8.6% |
| Change in stocks: decrease (increase)609 | - | - | -€62,286 | €12,150 | -€20,512 | ▼ 269% |
| Services and other goods61 | - | - | €828,038 | €891,710 | €1.1m | ▲ 18.6% |
| Remuneration, social security and pensions62 | - | €3.3m | €3.4m | €3.7m | €3.8m | ▲ 2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €212,346 | €227,111 | €242,698 | €236,375 | €222,288 | ▼ 6.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€7,271 | €20,099 | €16,547 | -€23,754 | ▼ 244% |
| Other operating charges640/8 | - | €31,185 | €30,349 | €29,186 | €52,012 | ▲ 78.2% |
| Gross operating margin9900 | €4.3m | €5.3m | - | - | - | - |
| Operating profit (loss)9901 | €1.2m | €1.8m | €1.5m | €1.4m | €1.1m | ▼ 21.4% |
| Financial income75/76B | - | €61,415 | €49,648 | €70,101 | €76,089 | ▲ 8.5% |
| Recurring financial income75 | €55,192 | €61,415 | €49,648 | €70,101 | €76,089 | ▲ 8.5% |
| Income from current assets751 | - | - | - | €13,427 | €15,438 | ▲ 15.0% |
| Other financial income752/9 | - | - | €49,648 | €56,674 | €60,651 | ▲ 7.0% |
| Financial charges65/66B | - | €36,909 | €31,545 | €35,803 | €27,179 | ▼ 24.1% |
| Recurring financial charges65 | €28,757 | €36,909 | €31,545 | €35,803 | €27,179 | ▼ 24.1% |
| Debt charges650 | - | - | €1,147 | €3,227 | €3,911 | ▲ 21.2% |
| Other financial charges652/9 | - | - | €30,398 | €32,576 | €23,269 | ▼ 28.6% |
| Profit (loss) for the period before taxes9903 | €1.2m | €1.8m | €1.5m | €1.4m | €1.2m | ▼ 19.9% |
| Income taxes67/77 | €319,540 | €490,909 | €399,546 | €381,398 | €294,334 | ▼ 22.8% |
| Taxes670/3 | - | - | €399,546 | €381,398 | €294,334 | ▼ 22.8% |
| Profit (loss) for the period9904 | €860,157 | €1.4m | €1.1m | €1.1m | €860,792 | ▼ 18.8% |
| Profit (loss) for the period to be appropriated9905 | €860,157 | €1.4m | €1.1m | €1.1m | €860,792 | ▼ 18.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.6m | €4.8m | €5.8m | €5.3m | €4.6m | ▼ 14.2% |
| Fixed assets21/28 | €1.0m | €1.1m | €1.1m | €1.1m | €1.3m | ▲ 18.6% |
| Intangible fixed assets21 | €90,405 | €59,552 | €44,825 | €19,927 | €7,757 | ▼ 61.1% |
| Tangible fixed assets22/27 | €956,336 | €1.1m | €1.1m | €1.1m | €1.3m | ▲ 20.1% |
| Land and buildings22 | - | €628,594 | €612,999 | €598,120 | €785,282 | ▲ 31.3% |
| Plant, machinery and equipment23 | - | €42,208 | €103,033 | €88,889 | €74,581 | ▼ 16.1% |
| Furniture and vehicles24 | - | €341,841 | €339,771 | €367,932 | €417,171 | ▲ 13.4% |
| Leasing and similar rights25 | - | €52,168 | €30,181 | €8,193 | - | - |
| Current assets29/58 | €3.6m | €3.7m | €4.7m | €4.2m | €3.3m | ▼ 22.6% |
| Stocks and contracts in progress3 | €300,818 | €327,017 | €369,659 | €351,837 | €381,514 | ▲ 8.4% |
| Stocks30/36 | - | €327,017 | €369,659 | €351,837 | €381,514 | ▲ 8.4% |
| Goods purchased for resale34 | - | - | €369,659 | €351,837 | €381,514 | ▲ 8.4% |
| Amounts receivable within one year40/41 | €1.8m | €2.1m | €1.7m | €1.9m | €2.2m | ▲ 19.1% |
| Trade receivables40 | - | €2.0m | €1.6m | €1.8m | €1.8m | ▲ 2.7% |
| Other amounts receivable41 | - | €79,232 | €82,430 | €109,088 | €422,555 | ▲ 287% |
| Current investments50/53 | - | - | - | €500,000 | - | - |
| Other investments51/53 | - | - | - | €500,000 | - | - |
| Cash at bank and in hand54/58 | €1.4m | €1.3m | €2.5m | €1.4m | €592,166 | ▼ 57.8% |
| Deferred charges and accrued income490/1 | - | €67,829 | €72,419 | €107,575 | €68,056 | ▼ 36.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.6m | €4.8m | €5.8m | €5.3m | €4.6m | ▼ 14.2% |
| Equity10/15 | €3.4m | €3.7m | €4.8m | €4.2m | €3.7m | ▼ 12.7% |
| Contributions10/11 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Capital10 | - | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Issued capital100 | - | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Reserves13 | €62,506 | €62,506 | €62,506 | €62,506 | €62,506 | = |
| Non-distributable reserves130/1 | - | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Legal reserve130 | - | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Distributable reserves133 | - | €55,006 | €55,006 | €55,006 | €55,006 | = |
| Profit (loss) carried forward14 | €3.3m | €3.5m | €4.6m | €4.1m | €3.6m | ▼ 13.1% |
| Amounts payable17/49 | €1.2m | €1.2m | €1.0m | €1.1m | €874,281 | ▼ 20.0% |
| Amounts payable after more than one year17 | €51,695 | €29,671 | €7,428 | - | - | - |
| Financial debts170/4 | - | €29,671 | €7,428 | - | - | - |
| Leasing and similar obligations172 | - | - | €7,428 | - | - | - |
| Amounts payable within one year42/48 | €1.0m | €1.0m | €893,865 | €955,755 | €790,985 | ▼ 17.2% |
| Current portion of amounts payable after more than one year42 | - | €22,023 | €22,244 | €7,428 | - | - |
| Trade debts44 | €127,838 | €133,355 | €84,342 | €105,358 | €72,966 | ▼ 30.7% |
| Suppliers440/4 | - | €133,355 | €84,342 | €105,358 | €72,966 | ▼ 30.7% |
| Advances received on contracts in progress46 | - | €20,213 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €836,648 | €787,279 | €842,969 | €718,018 | ▼ 14.8% |
| Taxes450/3 | - | €291,843 | €283,895 | €257,791 | €196,069 | ▼ 23.9% |
| Remuneration and social security454/9 | - | €544,805 | €503,384 | €585,177 | €521,950 | ▼ 10.8% |
| Accrued charges and deferred income492/3 | - | €124,839 | €126,798 | €136,607 | €83,296 | ▼ 39.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €860,157 | €1.4m | €1.1m | €1.1m | €860,792 | ▼ 18.8% |
| + Depreciation and write-downs630 | €212,346 | €227,111 | €242,698 | €236,375 | €222,288 | ▼ 6.0% |
| Operating cash flow (approximation) | €1.1m | €1.6m | €1.3m | €1.3m | €1.1m | ▼ 16.5% |
| Investment in fixed assets (approximation) | - | -€304,734 | -€249,142 | -€188,629 | -€424,018 | ▼ 125% |
| Change in cash | - | -€165,280 | €1.3m | -€1.1m | -€810,413 | ▲ 29.0% |
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
2025
22-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
22-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
17-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
19-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €1.4m ▲57.9%
Operating result €1.8m, net result €1.4m, both a record.
19-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
29-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
22-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
04-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
26-05
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 13 acts read
About the unread acts
We know of 13 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
13 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, Ternat · 1 establishment unit since 1985
Ground area
2,272 m²
Building footprint
565 m²
Volume, LiDAR
4,317 m³
Parcel 23086B0354/00C004, Flanders · tallest building 9.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Industrielaan 19, 1740 Ternat
since 19852.027.629.503
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23086B0354/00C004 | Flanders | 2,272 m² | 1 · 565 m² | 9.2 m · 3 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.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 2,663 EUR awarded · 2,663 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 2,663 EUR | 2,663 EUR |
Schemes
Recognitions · licences · registrations
Legal Entity Identifier
967600ENCUOL3MTDW009
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Of 191 companies in sector 46646 we hold annual accounts for 119. 68 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
Founded20-06-1985
Fiscal year end31-12
Activities, NACEBEL 2025
46646Wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0427483255
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.