TG-Packaging
ActiveTG-Packaging has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €21.51M and a net result of €5.43M. Equity is growing by ~33.3% per year across the filed fiscal years. Its solvency ranks better than 82% of 670 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
80
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability95▼-5
Solvency100=
Growth85▲+20
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.7M at 30 days acceptable
Liquidity ample (current ratio 2.5 against 3.59 in 2024; short-term debt: 25.4% and cash: 2.5% of total assets), and 25.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
74.6%
Return on assets
18.8%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Sector 25
higher
← 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
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 29-06-2026, 32 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
32 d early
2024
61 d late
2023
62 d late
2022
on the day
2021
37 d early
2020
131 d late
2019
116 d late
← before the deadline
after the deadline →
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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€25.16M▲ 102%
2024 · €12.45M
2021: €11.75M
2022: €10.43M
2023: €20.04M
2024: €12.45M
2021 → 2025
EBIT margin
21.4%▼ 40.6pp
2024 · 62.1%
2021: 29.2%
2022: 22.2%
2023: 26.2%
2024: 62.1%
2021 → 2025
Net result
€5.43M▼ 27.5%
2024 · €7.49M
2018: €1.67M
2019: €3.69M
2020: €1.13M
2021: €3.50M
2022: €2.38M
2023: €5.35M
2024: €7.49M
2018 → 2025
Working capital
€10.97M▼ 31.4%
2024 · €16.00M
2018: €1.26M
2019: €4.94M
2020: €7.27M
2021: €7.33M
2022: €8.14M
2023: €10.15M
2024: €16.00M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€11.75M-€10.43M▼ 11.3%€20.04M▲ 92.2%€12.45M▼ 37.9%€25.16M▲ 102%
Equity€6.76M-€9.14M▲ 35.2%€14.02M▲ 53.5%€19.18M▲ 36.8%€21.51M▲ 12.1%
Operating result€3.43M-€2.31M▼ 32.7%€5.25M▲ 127%€7.73M▲ 47.2%€5.40M▼ 30.2%
Net result€3.50M-€2.38M▼ 32.0%€5.35M▲ 125%€7.49M▲ 39.9%€5.43M▼ 27.5%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 30% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €28.84M
Fixed assets
€10.54M▲ 209%
Current assets
€18.30M▼ 17.5%
Equity and liabilities €28.84M
Equity
€21.51M▲ 12.1%
Debt
€7.33M▲ 14.5%
The debt ratio rises from 25.0% to 25.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€5.61M▼
2024 · €8.11M
Cash flow
€5.65M▼
2024 · €7.87M
Solvency
74.6%▼
2024 · 75.0%
Current ratio
2.50▼
2024 · 3.59
Quick ratio
1.32▼
2024 · 2.06
Debt / equity
0.34▲
2024 · 0.33
ROE
25.3%▼
2024 · 39.0%
ROA
18.8%▼
2024 · 29.3%
Interest coverage
4388.50▼
2024 · 32979.64
Debt
€7.33M▲
2024 · €6.40M
Debt ≤ 1 year
€7.33M▲
2024 · €6.17M
Income taxes
€6k▼
2024 · €369k
Staff costs
€3.92M▲
2024 · €3.29M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€25.58M€28.84M▲
Fixed assets21/28€3.41M€10.54M▲
Intangible fixed assets21€181k€29k▼
Tangible fixed assets22/27€725k€1.06M▲
Land and buildings22€374k€183k▼
Plant, machinery and equipment23€270k€395k▲
Furniture and vehicles24€79k€480k▲
Other tangible fixed assets26€3k€0▼
Financial fixed assets28€2.50M€9.46M▲
Affiliated companies280/1€2.50M€9.45M▲
Amounts receivable281€2.50M€9.45M▲
Other financial fixed assets284/8€5k€5k▲
Amounts receivable and cash guarantees285/8€5k€5k▲
Current assets29/58€22.17M€18.30M▼
Stocks and contracts in progress3€9.46M€8.64M▼
Stocks30/36€7.60M€7.52M▼
Raw materials and consumables30/31€5.85M€5.82M▼
Work in progress32€1.75M€1.70M▼
Contracts in progress37€1.86M€1.12M▼
Amounts receivable within one year40/41€6.13M€7.74M▲
Trade receivables40€4.80M€6.44M▲
Other amounts receivable41€1.34M€1.30M▼
Current investments50/53€2.03M€0▼
Other investments51/53€2.03M€0▼
Cash at bank and in hand54/58€3.20M€730k▼
Deferred charges and accrued income490/1€1.35M€1.19M▼
Equity and liabilities
Total equity and liabilities10/49€25.58M€28.84M▲
Equity10/15€19.18M€21.51M▲
Contributions10/11€100k€100k=
Reserves13€19.08M€21.41M▲
Distributable reserves133€19.08M€21.41M▲
Amounts payable17/49€6.40M€7.33M▲
Amounts payable within one year42/48€6.17M€7.33M▲
Financial debts43-€500k
Credit institutions430/8-€500k
Trade debts44€2.08M€1.18M▼
Suppliers440/4€2.08M€1.18M▼
Advances received on contracts in progress46€786k€1.94M▲
Taxes, remuneration and social security45€970k€1.08M▲
Taxes450/3€457k€483k▲
Remuneration and social security454/9€513k€601k▲
Other amounts payable47/48€2.33M€2.62M▲
Accrued charges and deferred income492/3€230k€1k▼
Income statement
Code20242025
Operating income70/76A€25.55M€24.83M▼
Turnover70€12.45M€25.16M▲
Change in stocks of work in progress, finished goods and contracts in progress71€12.20M€-783k▼
Own construction capitalised72€0-
Other operating income74€898k€455k▼
Operating charges60/66A€17.82M€19.44M▲
Goods for resale, raw materials and consumables60€10.98M€12.02M▲
Purchases600/8€11.61M€11.99M▲
Change in stocks: decrease (increase)609€-630k€31k▲
Services and other goods61€3.12M€2.96M▼
Remuneration, social security and pensions62€3.29M€3.92M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€377k€214k▼
Other operating charges640/8€45k€51k▲
Non-recurring operating charges66A-€267k
Operating profit (loss)9901€7.73M€5.40M▼
Financial income75/76B€170k€125k▼
Recurring financial income75€170k€125k▼
Income from financial fixed assets750€61k€30k▼
Income from current assets751€105k€95k▼
Other financial income752/9€4k€506▼
Financial charges65/66B€40k€82k▲
Recurring financial charges65€40k€82k▲
Debt charges650€246€1k▲
Other financial charges652/9€40k€81k▲
Profit (loss) for the period before taxes9903€7.86M€5.44M▼
Income taxes67/77€369k€6k▼
Taxes670/3€369k€10k▼
Tax adjustments and reversals of tax provisions77-€4k
Profit (loss) for the period9904€7.49M€5.43M▼
Profit (loss) for the period to be appropriated9905€7.49M€5.43M▼
Appropriation of the result
Profit (loss) to be appropriated9906€7.49M€5.43M▼
Transfer from equity791/2-€604k
From reserves792-€604k
Transfer to equity691/2€5.16M€2.93M▼
To other reserves6921€5.16M€2.93M▼
Profit to be distributed694/7€2.33M€3.10M▲
Return on contributions (dividend)694€2.33M€3.10M▲
Social balance
Average headcount (FTE)908741.950.6▲
The notes to these accounts (77 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 61 days late
2024
31-12
Financial
Highest result since 2018net €7.49M ▲39.9%
Operating result €7.73M, net result €7.49M, both a record.
01-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 62 days late
2023
31-12
Financial
Equity above €10MEq €14.02M ▲53.5%
6 profitable years in a row build equity to €14.02M.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
09-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 131 days late
2020
31-12
Financial
Weakest financial yearnet €1.13M ▼69.2%
Net result drops to €1.13M, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €5MEq €6.11M ▲22.8%
3 profitable years in a row build equity to €6.11M.
24-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 116 days late
2019
31-12
Financial
Liquidity times 5current ratio 7.88
Current ratio from 1.52 to 7.88; short-term debt falls from €2.43M to €717k.
31-12
Financial
Equity above €2MEq €4.98M ▲285%
2 profitable years in a row build equity to €4.98M.
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 61 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
11-07
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.
Directors · office · real estate
Directors
10 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, Beveren-Kruibeke-Zwijndrecht · 1 establishment unit since 2006
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Havinkbeekstraat(VER) 49130 Beveren-Kruibeke-ZwijndrechtGround area
4,299 m²
Building footprint
4,155 m²
Volume, LiDAR
352 m³
Parcel 46027B0151/00E000, Flanders · tallest building 2.9 m. Linked by address, not a title deed.
1 establishment unit
TG-PACKAGING
since 20062.153.046.642
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46027B0151/00E000 | Flanders | 4,299 m² | 1 · 4,155 m² | 2.9 m |
Linked by address, not proof of ownership
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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 12 entries · 986,334 EUR awarded · 973,834 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 5 | 34,589 EUR | 206,156 EUR |
| 2024 | 3 | 929,707 EUR | 745,861 EUR |
| 2023 | 2 | 11,551 EUR | 11,650 EUR |
| 2022 | 2 | 10,487 EUR | 10,167 EUR |
Schemes
Ontwikkelingsproject
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Kmo-groeisubsidie: steun voor groeitrajecten bij kmo's (stopgezet)
Individueel Maatwerk
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 557 companies in sector 25999 we hold annual accounts for 350. 68 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded13-04-2006
Fiscal year end31-12
Activities, NACEBEL
25999Manufacture of fabricated metal products, except machinery and equipment
33200Installation of industrial machinery and equipment
71320
77320Rental and leasing activities
Sources
Crossroads Bank for EnterprisesNational Bank · 19 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.