TEZ
ActiveSummary
TEZ has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €116k and a net result of €60k. Equity is shrinking by ~11.1% per year across the filed fiscal years. Its solvency ranks better than 84% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+100
Solvency100▲+28
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity ample (current ratio 4.42 against 1.48 in 2024; short-term debt: 21.1% and cash: 0% of total assets), and 21.1% 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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 2025Solvency, return and age of the figures
Solvency
78.9%
Return on assets
40.8%
Age of the figures
9 mo
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
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €116k
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 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
31 d late
2023
31 d late
2022
61 d late
2021
78 d late
2020
91 d late
2019
122 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
€116k▲ 107%
2024 · €56k
2018: €165k
2019: €193k▲ +16.6% vs 2018
2020: €197k▲ +1.8% vs 2019highest in 8 years
2021: €182k▼ -7.6% vs 2020
2022: €128k▼ -29.8% vs 2021
2023: €85k▼ -33.2% vs 2022
2024: €56k▼ -34.5% vs 2023lowest in 8 years
2025: €116k▲ +107% vs 2024
2018 → 2025
Total assets
€147k▲ 24.5%
2024 · €118k
2018: €309k
2019: €304k▼ -1.8% vs 2018
2020: €322k▲ +6.0% vs 2019highest in 8 years
2021: €293k▼ -9.1% vs 2020
2022: €223k▼ -23.8% vs 2021
2023: €193k▼ -13.5% vs 2022
2024: €118k▼ -38.9% vs 2023lowest in 8 years
2025: €147k▲ +24.5% vs 2024
2018 → 2025
Net result
€60k
2024 · €-29k
2018: €17k
2019: €28k▲ +59.5% vs 2018
2020: €4k▼ -87.1% vs 2019
2021: €-15k▼ -519% vs 2020
2022: €-54k▼ -262% vs 2021lowest in 8 years
2023: €-42k▲ +21.7% vs 2022
2024: €-29k▲ +30.4% vs 2023
2025: €60k▲ +304% vs 2024highest in 8 years
2018 → 2025
Working capital
€106k▲ 253%
2024 · €30k
2018: €159k
2019: €190k▲ +19.8% vs 2018highest in 8 years
2020: €183k▼ -3.5% vs 2019
2021: €171k▼ -6.7% vs 2020
2022: €83k▼ -51.7% vs 2021
2023: €40k▼ -51.7% vs 2022
2024: €30k▼ -24.7% vs 2023lowest in 8 years
2025: €106k▲ +253% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€182k-€128k▼ 29.8%€85k▼ 33.2%€56k▼ 34.5%€116k▲ 107%
2021: €182khighest in 5 years
2022: €128k▼ -29.8% vs 2021
2023: €85k▼ -33.2% vs 2022
2024: €56k▼ -34.5% vs 2023lowest in 5 years
2025: €116k▲ +107% vs 2024
Operating result€-5k-€-48k▼ 847%€-32k▲ 34.1%€-12k▲ 62.3%€66k
2021: €-5k
2022: €-48k▼ -847% vs 2021lowest in 5 years
2023: €-32k▲ +34.1% vs 2022
2024: €-12k▲ +62.3% vs 2023
2025: €66k▲ +652% vs 2024highest in 5 years
Net result€-15k-€-54k▼ 262%€-42k▲ 21.7%€-29k▲ 30.4%€60k
2021: €-15k
2022: €-54k▼ -262% vs 2021lowest in 5 years
2023: €-42k▲ +21.7% vs 2022
2024: €-29k▲ +30.4% vs 2023
2025: €60k▲ +304% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €66k after a loss of €12k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €147k
Fixed assets
€10k ▼ 62.3%
Current assets
€137k ▲ 48.8%
Equity and liabilities €147k
Equity
€116k ▲ 107%
Debt
€31k ▼ 50.0%
Debt's share of the balance-sheet total falls from 52.6% to 21.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€71k▲
2024 · €-108
Cash flow
€64k▲
2024 · €-18k
Current ratio
4.42▲
2024 · 1.48
Debt to equity
0.27▼
2024 · 1.11
ROE
51.8%▲
2024 · -52.7%
ROA
40.8%▲
2024 · -25.0%
Interest coverage
10.63▲
2024 · -0.01
Debt ≤ 1 year
€31k▼
2024 · €62k
Income taxes
€2k▲
2024 · €301
Staff costs
€7k▼
2024 · €82k
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 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€118k€147k▲
Fixed assets21/28€26k€10k▼
Tangible fixed assets22/27€26k€10k▼
Plant, machinery and equipment23€12k€10k▼
Furniture and vehicles24€14k€0▼
Current assets29/58€92k€137k▲
Amounts receivable after more than one year29€60k€60k=
Other amounts receivable291€60k€60k=
Amounts receivable within one year40/41€29k€76k▲
Trade receivables40€26k€45k▲
Other amounts receivable41€2k€31k▲
Cash at bank and in hand54/58€2k€0▼
Deferred charges and accrued income490/1€2k€2k=
Equity and liabilities
Total equity and liabilities10/49€118k€147k▲
Equity10/15€56k€116k▲
Contributions10/11€19k€19k=
Reserves13€83k€97k▲
Tax-exempt reserves132€9k€9k=
Distributable reserves133€74k€89k▲
Profit (loss) carried forward14€-46k€0▲
Amounts payable17/49€62k€31k▼
Amounts payable within one year42/48€62k€31k▼
Financial debts43€4k€147▼
Credit institutions430/8€4k€147▼
Trade debts44€49k€29k▼
Suppliers440/4€49k€29k▼
Taxes, remuneration and social security45€2k€2k▲
Taxes450/3€478€2k▲
Remuneration and social security454/9€1k€0▼
Other amounts payable47/48€8k€0▼
Income statement
Code20242025
Non-recurring operating income76A-€24k
Remuneration, social security and pensions62€82k€7k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€5k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€5k
Other operating charges640/8€29k€4k▼
Non-recurring operating charges66A-€27k
Gross operating margin9900€111k€114k▲
Operating profit (loss)9901€-12k€66k▲
Financial income75/76B€2k€2k▼
Recurring financial income75€2k€2k▼
Financial charges65/66B€20k€7k▼
Recurring financial charges65€20k€7k▼
Profit (loss) for the period before taxes9903€-29k€62k▲
Income taxes67/77€301€2k▲
Profit (loss) for the period9904€-29k€60k▲
Profit (loss) for the period to be appropriated9905€-29k€60k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-46k€14k▲
Profit (loss) brought forward from the previous period14P€-16k€-46k▼
Transfer to equity691/2-€14k
To other reserves6921-€14k
The notes to these accounts (8 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 | - | - | - | - | €24k | - |
| Remuneration, social security and pensions62 | €121k | €78k | €156k | €82k | €7k | ▼ 90.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17k | €11k | €10k | €12k | €5k | ▼ 61.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €5k | - |
| Other operating charges640/8 | €14k | €20k | €16k | €29k | €4k | ▼ 84.7% |
| Non-recurring operating charges66A | - | - | - | - | €27k | - |
| Gross operating margin9900 | €146k | €60k | €150k | €111k | €114k | ▲ 3.2% |
| Operating profit (loss)9901 | €-5k | €-48k | €-32k | €-12k | €66k | ▲ 652% |
| Financial income75/76B | €4k | €3k | €3k | €2k | €2k | ▼ 13.8% |
| Recurring financial income75 | €4k | €3k | €3k | €2k | €2k | ▼ 13.8% |
| Financial charges65/66B | €10k | €8k | €13k | €20k | €7k | ▼ 66.1% |
| Recurring financial charges65 | €10k | €8k | €13k | €20k | €7k | ▼ 66.1% |
| Profit (loss) for the period before taxes9903 | €-11k | €-54k | €-42k | €-29k | €62k | ▲ 311% |
| Income taxes67/77 | €4k | €188 | €177 | €301 | €2k | ▲ 453% |
| Profit (loss) for the period9904 | €-15k | €-54k | €-42k | €-29k | €60k | ▲ 304% |
| Transfer from tax-exempt reserves789 | €19k | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €4k | €-54k | €-42k | €-29k | €60k | ▲ 304% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €293k | €223k | €193k | €118k | €147k | ▲ 24.5% |
| Fixed assets21/28 | €31k | €47k | €45k | €26k | €10k | ▼ 62.3% |
| Tangible fixed assets22/27 | €31k | €18k | €21k | €26k | €10k | ▼ 62.3% |
| Plant, machinery and equipment23 | - | €3k | €14k | €12k | €10k | ▼ 15.7% |
| Furniture and vehicles24 | €31k | €15k | €7k | €14k | €0 | ▼ 100% |
| Financial fixed assets28 | - | €29k | €24k | - | - | - |
| Current assets29/58 | €262k | €176k | €148k | €92k | €137k | ▲ 48.8% |
| Amounts receivable after more than one year29 | €140k | €97k | €80k | €60k | €60k | = |
| Other amounts receivable291 | €140k | €97k | €80k | €60k | €60k | = |
| Amounts receivable within one year40/41 | €106k | €71k | €49k | €29k | €76k | ▲ 162% |
| Trade receivables40 | €88k | €63k | €48k | €26k | €45k | ▲ 70.3% |
| Other amounts receivable41 | €18k | €8k | €708 | €2k | €31k | ▲ 1,153% |
| Cash at bank and in hand54/58 | €10k | €3k | €2k | €2k | €0 | ▼ 100% |
| Deferred charges and accrued income490/1 | €7k | €5k | €16k | €2k | €2k | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €293k | €223k | €193k | €118k | €147k | ▲ 24.5% |
| Equity10/15 | €182k | €128k | €85k | €56k | €116k | ▲ 107% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €163k | €109k | €83k | €83k | €97k | ▲ 17.3% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Tax-exempt reserves132 | €9k | €9k | €9k | €9k | €9k | = |
| Distributable reserves133 | €152k | €98k | €74k | €74k | €89k | ▲ 19.4% |
| Profit (loss) carried forward14 | - | - | €-16k | €-46k | €0 | ▲ 100% |
| Amounts payable17/49 | €111k | €96k | €108k | €62k | €31k | ▼ 50.0% |
| Amounts payable after more than one year17 | €20k | - | - | - | - | - |
| Financial debts170/4 | €20k | - | - | - | - | - |
| Amounts payable within one year42/48 | €91k | €93k | €108k | €62k | €31k | ▼ 50.0% |
| Current portion of amounts payable after more than one year42 | €14k | - | - | - | - | - |
| Financial debts43 | €2k | €23k | - | €4k | €147 | ▼ 96.0% |
| Credit institutions430/8 | €2k | €23k | - | €4k | €147 | ▼ 96.0% |
| Trade debts44 | €48k | €52k | €99k | €49k | €29k | ▼ 41.3% |
| Suppliers440/4 | €48k | €52k | €99k | €49k | €29k | ▼ 41.3% |
| Taxes, remuneration and social security45 | €22k | €14k | €5k | €2k | €2k | ▲ 30.8% |
| Taxes450/3 | €10k | €3k | €365 | €478 | €2k | ▲ 348% |
| Remuneration and social security454/9 | €12k | €11k | €5k | €1k | €0 | ▼ 100% |
| Other amounts payable47/48 | €5k | €4k | €4k | €8k | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | €3k | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-15k | €-54k | €-42k | €-29k | €60k | ▲ 304% |
| + Depreciation and write-downs630 | €17k | €11k | €10k | €12k | €5k | ▼ 61.7% |
| Operating cash flow (approximation) | €2k | €-43k | €-32k | €-18k | €64k | ▲ 467% |
| Investment in fixed assets (approximation) | - | €-27k | €-8k | €8k | €12k | ▲ 49.4% |
| Change in cash | - | €-7k | €-817 | €-486 | €-2k | ▼ 251% |
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
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €60k
Net result €60k after 4 loss-making years.
31-12
Financial
Liquidity triplescurrent ratio 4.42
Current ratio from 1.48 to 4.42; short-term debt falls from €62k to €31k.
31-12
Financial
Equity above €100kEq €116k ▲107%
Equity rises from €56k to €116k.
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
2022
31-12
Financial
Weakest financial yearnet €-54k
Net result drops to €-54k, the lowest in the series; recovery starts the following year.
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 78 days late
2021
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 91 days late
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
2019
28-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 89 days late
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 57 days late
2017
21-12
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 143 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 22 acts read
About the unread acts
We know of 22 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
22 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, Lievegem · 1 establishment unit since 2008
Ground area
147 m²
Building footprint
147 m²
Volume, LiDAR
672 m³
Parcel 44080B0545/00G000, Flanders · tallest building 6.4 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
TEZ
since 20082.172.613.225
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44080B0545/00G000 | Flanders | 147 m² | 1 · 147 m² | 6.4 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.
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Of 4,270 companies in sector 43230 we hold annual accounts for 1,238. 1,040 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
Founded25-08-2008
Fiscal year end31-12
Activities, NACEBEL 2025
43230Insulation installation
42110Construction of roads and motorways
42211Civil engineering
42212Civil engineering
42220Construction of utility projects for electricity and telecommunications
42911Civil engineering
43120Site preparation
43990Other specialised construction activities
49410Freight transport by road
53200Other postal and courier activities
Scores and ratios are computed by Checked and are not a credit decision.