TMS CONSTRUCT
ActiveSummary
TMS CONSTRUCT has been active since 2012 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €143,549 and a net result of €5,755, of which €3,446 non-recurring income. Equity is growing by about 24% per year across the filed financial years. Its solvency ranks better than 38% of 22,576 sector peers (NACE 47, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Activity
Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
NACE 47781Joinery installation NACE 43320
1 site
Size
€728,104total assets 2025
- Staff
- 1.7 FTE
- Equity
- €143,549
- Profit
- €5,755
Turnover not published (micro format)
Structure
- EL KAROUNI HoucineDirector
- HRISTOV DONCHEV DimitriDirector
2025 accounts filed 31 days late3 of 12 deeds summarised
Why 87raises riskLast filed accounts filed 31 days late; 1 of the last 3 lateSector: Retail trade (NACE 47)lowers riskSize: total assets €728,104Founded in 2012Show the evidence
Checked score
Score 2025
87
/ 100
Excellent
Probability in this band: under 0.55%
Financially better than 40% of its sector peers (NACE 47, micro)
Financial strength · tick = 2024
Average
Solvency
45-17
equity 19.7% of total assets
Liquidity
40-12
short-term debt 73.3% · cash 23.7%
Profitability
52-20
return on assets 0.8%
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 2.4%
12-2024: 2.4%● unchanged vs 11-2024
01-2025: 2.4%● unchanged vs 12-2024
02-2025: 2.4%● unchanged vs 01-2025
03-2025: 2.4%● unchanged vs 02-2025
04-2025: 2.4%● unchanged vs 03-2025
05-2025: 2.5%▲ +0.1 percentage points vs 04-2025highest value
06-2025: 2.4%▼ -0.1 percentage points vs 05-2025
07-2025: 2.4%● unchanged vs 06-2025
08-2025: 1.5%▼ -0.9 percentage points vs 07-2025
09-2025: 1.5%● unchanged vs 08-2025
10-2025: 0.4%▼ -1.1 percentage points vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.4%● unchanged vs 03-2026
05-2026: 0.5%▲ +0.1 percentage points vs 04-2026
06-2026: 0.5%● unchanged vs 05-2026
07-2026: 0.5%● unchanged vs 06-2026
08-2026: 1.0%▲ +0.5 percentage points vs 07-2026
09-2026: 0.5%▼ -0.5 percentage points vs 08-2026
10-2026: 0.2%▼ -0.3 percentage points vs 09-2026lowest value
Credit of up to €12,000 on 30-day terms is acceptable
Liquidity tight (current ratio 1.21, compared with 1.55 in 2024, below the usual 1.5; short-term debt: 73.3% and cash: 23.7% of total assets), and 80.3% of the assets are financed with debt and provisions.
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, micro): better than 36% on solvency, 38% on liquidity, 37% on profitability and 50% on growth.
The bankruptcy probability was computed on 25-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
Five signals.
lowers riskraises riskneutral
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: of the companies that move to filing 1 to 90 days late, 1.41% are now bankrupt, dissolved or in another special legal status, below the 1.66% of all filers. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
31 days late
2024
27 days early
2023
13 days early
2022
27 days early
2021
31 days late
2020
55 days late
2019
38 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 13 days after the deadline; the sector median (NACE 47) for financial year 2024 is on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 19 July (5 of the last 5 filed years within 43 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
26-10-2026 today31-12-2026 year end31-07-2027 deadline
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- Registered officeRegistered-office move
Financials · financial year 2025, micro format
2025 annual accounts filed late (31 days) Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00498959.
Equity
€143,549▲ 4.2%
2024 · €137,793
Total assets
€728,104▲ 96.3%
2024 · €370,966
Net result
€5,755▼ 33.8%
2024 · €8,691
Working capital
€110,346▲ 6.2%
2024 · €103,906
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 9% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€22,249
2025
Net result€5,755
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€728,104
2025
Equity€143,549
2025
Debt€584,555
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€110,346
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)0.8%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency19.7%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.21
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)1.7
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 47, Retail trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€3,294-€14,679▲ 346%€14,596▼ 0.6%€38,174▲ 162%€55,977▲ 46.6%€190,936▲ 241%€20,482▼ 89.3%€22,249▲ 8.6%
Net result€1,199-€9,502▲ 692%€3,525within the sector's middle half▼ 62.9%€25,355above the sector's middle half▲ 619%€37,662above the sector's middle half▲ 48.5%€14,434within the sector's middle half▼ 61.7%€8,691within the sector's middle half▼ 39.8%€5,755within the sector's middle half▼ 33.8%
Equity€38,623-€48,125▲ 24.6%€51,650within the sector's middle half▲ 7.3%€77,006within the sector's middle half▲ 49.1%€114,668within the sector's middle half▲ 48.9%€129,102above the sector's middle half▲ 12.6%€137,793above the sector's middle half▲ 6.7%€143,549above the sector's middle half▲ 4.2%
Total assets€139,814-€115,058▼ 17.7%€169,369within the sector's middle half▲ 47.2%€232,327within the sector's middle half▲ 37.2%€362,135above the sector's middle half▲ 55.9%€385,835above the sector's middle half▲ 6.5%€370,966above the sector's middle half▼ 3.9%€728,104above the sector's middle half▲ 96.3%
Debt€101,191-€66,933▼ 33.9%€117,719▲ 75.9%€155,321▲ 31.9%€247,467▲ 59.3%€256,733▲ 3.7%€233,173▼ 9.2%€584,555▲ 151%
Working capital€31,659-€41,960▲ 32.5%€40,225within the sector's middle half▼ 4.1%€39,504within the sector's middle half▼ 1.8%€120,779above the sector's middle half▲ 206%€86,422above the sector's middle half▼ 28.4%€103,906above the sector's middle half▲ 20.2%€110,346above the sector's middle half▲ 6.2%
Solvency27.6%-41.8%▲ 14.2pp30.5%within the sector's middle half▼ 11.3pp33.1%within the sector's middle half▲ 2.6pp31.7%within the sector's middle half▼ 1.5pp33.5%within the sector's middle half▲ 1.8pp37.1%within the sector's middle half▲ 3.7pp19.7%within the sector's middle half▼ 17.4pp
Current ratio1.31-1.63▲ 0.311.37within the sector's middle half▼ 0.261.26within the sector's middle half▼ 0.111.81within the sector's middle half▲ 0.551.39within the sector's middle half▼ 0.421.55within the sector's middle half▲ 0.161.21within the sector's middle half▼ 0.34
Return on assets (ROA)0.9%-8.3%▲ 7.4pp2.1%within the sector's middle half▼ 6.2pp10.9%within the sector's middle half▲ 8.8pp10.4%within the sector's middle half▼ 0.5pp3.7%within the sector's middle half▼ 6.7pp2.3%within the sector's middle half▼ 1.4pp0.8%within the sector's middle half▼ 1.6pp
Staff (FTE)0.5-0.3▼ 40.0%0.4below the sector's middle half▲ 33.3%2▲ 400%1.8▼ 10.0%1▼ 44.4%1.9▲ 90.0%1.7▼ 10.5%
above
within
below
the middle half of NACE 47, Retail trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €728,104
Fixed assets
€84,416 ▲ 9.4%
Current assets
€643,688 ▲ 119%
Equity and liabilities €728,104
Equity
€143,549 ▲ 4.2%
Debt
€584,555 ▲ 151%
Debt's share of the balance-sheet total rises from 62.9% to 80.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€42,014▼
2024 · €43,848
Cash flow
€25,521▼
2024 · €32,057
Quick ratio
0.87▼
2024 · 1.27
Debt to equity
4.07▲
2024 · 1.69
ROE
4.0%▼
2024 · 6.3%
Interest coverage
3.82▼
2024 · 8.13
Debt ≤ 1 year
€533,341▲
2024 · €189,867
Debt > 1 year
€51,114▲
2024 · €43,305
Income taxes
€5,832▼
2024 · €6,465
Staff costs
€54,193▼
2024 · €55,905
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,508 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 96.9% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.4%
went bankrupt
1.7%
stopped otherwise
96.9%
still going
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 4,508 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 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €3,446 | - |
| Remuneration, social security and pensions62 | - | - | - | €20,687 | €21,727 | €55,630 | €55,905 | €54,193 | ▼ 3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,211 | €1,910 | €3,091 | €6,302 | €13,150 | €20,944 | €23,366 | €19,766 | ▼ 15.4% |
| Other operating charges640/8 | - | - | - | €1,419 | €13,025 | €3,808 | €8,500 | €6,461 | ▼ 24.0% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €3,584 | - |
| Gross operating margin9900 | €25,571 | €32,415 | €68,876 | €66,582 | €103,879 | €271,318 | €108,252 | €106,253 | ▼ 1.8% |
| Operating profit (loss)9901 | €3,294 | €14,679 | €14,596 | €38,174 | €55,977 | €190,936 | €20,482 | €22,249 | ▲ 8.6% |
| Financial income75/76B | - | - | - | €122 | €297 | €254 | €69 | €346 | ▲ 401% |
| Recurring financial income75 | €35 | €736 | €22 | €122 | €297 | €254 | €69 | €346 | ▲ 401% |
| Financial charges65/66B | - | - | - | €3,271 | €2,880 | €165,534 | €5,394 | €11,007 | ▲ 104% |
| Recurring financial charges65 | €921 | €2,217 | €9,495 | €3,271 | €2,880 | €165,534 | €5,394 | €11,007 | ▲ 104% |
| Profit (loss) for the period before taxes9903 | €2,408 | €13,197 | €5,123 | €35,026 | €53,394 | €25,656 | €15,156 | €11,587 | ▼ 23.5% |
| Income taxes67/77 | €1,209 | €3,695 | €1,598 | €9,670 | €15,731 | €11,222 | €6,465 | €5,832 | ▼ 9.8% |
| Profit (loss) for the period9904 | €1,199 | €9,502 | €3,525 | €25,355 | €37,662 | €14,434 | €8,691 | €5,755 | ▼ 33.8% |
| Profit (loss) for the period to be appropriated9905 | €1,199 | €9,502 | €3,525 | €25,355 | €37,662 | €14,434 | €8,691 | €5,755 | ▼ 33.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €139,814 | €115,058 | €169,369 | €232,327 | €362,135 | €385,835 | €370,966 | €728,104 | ▲ 96.3% |
| Fixed assets21/28 | €6,964 | €6,245 | €18,998 | €40,786 | €91,664 | €75,669 | €77,193 | €84,416 | ▲ 9.4% |
| Intangible fixed assets21 | - | - | - | €20,808 | €16,358 | €11,908 | €7,458 | €3,008 | ▼ 59.7% |
| Tangible fixed assets22/27 | €3,964 | €3,603 | €16,073 | €15,674 | €71,001 | €54,507 | €65,430 | €77,103 | ▲ 17.8% |
| Plant, machinery and equipment23 | - | - | - | €421 | €537 | €370 | €236 | €2,247 | ▲ 850% |
| Furniture and vehicles24 | - | - | - | €11,547 | €67,651 | €52,216 | €64,164 | €74,719 | ▲ 16.4% |
| Other tangible fixed assets26 | - | - | - | €3,705 | €2,813 | €1,921 | €1,029 | €137 | ▼ 86.7% |
| Financial fixed assets28 | €3,000 | €2,641 | €2,925 | €4,305 | €4,305 | €9,255 | €4,305 | €4,305 | = |
| Current assets29/58 | €132,850 | €108,813 | €150,371 | €191,541 | €270,472 | €310,166 | €293,773 | €643,688 | ▲ 119% |
| Stocks and contracts in progress3 | - | - | €60,071 | €26,425 | €38,260 | €44,225 | €53,427 | €178,851 | ▲ 235% |
| Stocks30/36 | - | - | - | €26,425 | €38,260 | €44,225 | €53,427 | €178,851 | ▲ 235% |
| Amounts receivable within one year40/41 | €117,183 | €92,418 | €64,958 | €145,123 | €194,671 | €158,691 | €139,057 | €287,967 | ▲ 107% |
| Trade receivables40 | - | - | - | €134,727 | €191,932 | €144,263 | €139,018 | €274,387 | ▲ 97.4% |
| Other amounts receivable41 | - | - | - | €10,396 | €2,739 | €14,428 | €38 | €13,580 | ▲ 353× |
| Cash at bank and in hand54/58 | €15,368 | €12,739 | €21,347 | €18,977 | €35,178 | €101,005 | €82,403 | €172,524 | ▲ 109% |
| Deferred charges and accrued income490/1 | - | - | - | €1,015 | €2,362 | €6,244 | €18,887 | €4,346 | ▼ 77.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €139,814 | €115,058 | €169,369 | €232,327 | €362,135 | €385,835 | €370,966 | €728,104 | ▲ 96.3% |
| Equity10/15 | €38,623 | €48,125 | €51,650 | €77,006 | €114,668 | €129,102 | €137,793 | €143,549 | ▲ 4.2% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €27,210 | €64,210 | €78,210 | €86,810 | €92,560 | ▲ 6.6% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €25,350 | €62,350 | €78,210 | €86,810 | €92,560 | ▲ 6.6% |
| Profit (loss) carried forward14 | €18,163 | €27,665 | €31,190 | €31,196 | €31,858 | €32,292 | €32,383 | €32,389 | = |
| Amounts payable17/49 | €101,191 | €66,933 | €117,719 | €155,321 | €247,467 | €256,733 | €233,173 | €584,555 | ▲ 151% |
| Amounts payable after more than one year17 | - | - | €7,480 | €3,284 | €42,106 | €31,937 | €43,305 | €51,114 | ▲ 18.0% |
| Financial debts170/4 | - | - | - | €3,284 | €42,106 | €31,937 | €43,305 | €51,114 | ▲ 18.0% |
| Amounts payable within one year42/48 | €101,191 | €66,853 | €110,146 | €152,037 | €149,693 | €223,744 | €189,867 | €533,341 | ▲ 181% |
| Current portion of amounts payable after more than one year42 | - | - | - | €4,196 | €12,799 | €10,169 | €15,730 | €20,589 | ▲ 30.9% |
| Financial debts43 | - | - | - | €25,000 | - | - | - | €370,000 | - |
| Credit institutions430/8 | - | - | - | €25,000 | - | - | - | €370,000 | - |
| Trade debts44 | €63,851 | €38,420 | €74,664 | €94,249 | €95,548 | €43,001 | €27,335 | €39,849 | ▲ 45.8% |
| Suppliers440/4 | - | - | - | €94,249 | €95,548 | €43,001 | €27,335 | €39,849 | ▲ 45.8% |
| Advances received on contracts in progress46 | - | - | - | - | - | - | €1,600 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €23,220 | €37,261 | €25,330 | €30,121 | €27,268 | ▼ 9.5% |
| Taxes450/3 | - | - | - | €18,181 | €31,320 | €13,461 | €20,521 | €11,944 | ▼ 41.8% |
| Remuneration and social security454/9 | - | - | - | €5,039 | €5,941 | €11,869 | €9,600 | €15,324 | ▲ 59.6% |
| Other amounts payable47/48 | - | - | - | €5,372 | €4,084 | €145,244 | €115,082 | €75,635 | ▼ 34.3% |
| Accrued charges and deferred income492/3 | - | - | - | - | €55,668 | €1,052 | - | €99 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,199 | €9,502 | €3,525 | €25,355 | €37,662 | €14,434 | €8,691 | €5,755 | ▼ 33.8% |
| + Depreciation and write-downs630 | €1,211 | €1,910 | €3,091 | €6,302 | €13,150 | €20,944 | €23,366 | €19,766 | ▼ 15.4% |
| Operating cash flow (approximation) | €2,410 | €11,412 | €6,617 | €31,657 | €50,813 | €35,378 | €32,057 | €25,521 | ▼ 20.4% |
| Investment in fixed assets (approximation) | - | -€1,191 | -€15,844 | -€28,090 | -€64,028 | -€4,950 | -€24,889 | -€26,989 | ▼ 8.4% |
| Change in cash | - | -€2,629 | €8,608 | -€2,370 | €16,201 | €65,827 | -€18,602 | €90,122 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 14 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00498959 |
| 31-12-2024 | micro format | 04-07-2025 | 2025-00234348 |
| 31-12-2023 | micro format | 18-07-2024 | 2024-00258458 |
| 31-12-2022 | micro format | 04-07-2023 | 2023-00201895 |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20370239 |
| 31-12-2020 | micro format | 24-09-2021 | 2021-68200424 |
| 31-12-2019 | micro format | 07-09-2020 | 2020-51400326 |
| 31-12-2018 | micro format | 31-08-2019 | 2019-61500599 |
| 31-12-2017 | micro format | 28-09-2018 | 2018-66700411 |
| 31-12-2016 | full format | 29-09-2017 | 2017-64800338 |
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Of the 3,083 active companies whose main activity is retail sale of solid, liquid and gaseous fuels, excluding motor fuels (NACE 47781), figures are known for 732. 525 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
2 directors, last change in 2023
EL KAROUNI Houcine
CurrentAdministrateur non statutaire
HRISTOV DONCHEV Dimitri
CurrentAdministrateur non statutaire
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ.
See the directors and other office holders in the KBO →
Not every act has been read: a resignation may still be missing
9 of this company's 12 Belgian Official Gazette deeds have not been read yet. Appointments and resignations recorded in them are not yet in the list of directors: someone who resigned there may still be listed as sitting. The acts are in the Timeline.
Mandate history
3 people since 2023, 2 in office
- Board
- Other function
- began earlier
| Name | Functions and periods |
|---|---|
| EL KAROUNI Houcine |
|
| HRISTOV DONCHEV Dimitri |
|
| Nikola HRISTOV NOZHAROV |
|
Owners and capital
Owners
1 ownerOwners 1
-
share not stated
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
Shareholders according to the deeds
Stated in the act
act of 21-12-2023 ↗
- EL KAROUNI Houcine 40 shares
- HRISTOV Dimitar 15 shares
- EFTIMOV Kiril 5 shares
- NAKEV Ventsislav 5 shares
- TSANOV Nikola 5 shares
- RADIN Mariyan 5 shares
- ALUMINA X LDT OOD (BE 1003.403.335)
Stated in the act
act of 12-09-2023 ↗
- EL KAROUNI Houcine Associé
- HRISTOV Dimitar Associé
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
Capital over the years
- 21-12-2023 Converted to unavailable equity · €18,600
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
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Shareholding
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History
Acts, filings and financial milestones
Next filing, financial year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
financial year 2025 · micro format · 31 days late
2025
04-07
NBB filing
Annual accounts filed
financial year 2024 · micro format
2024
10-10
Gazette deed
Registered officeRegistered-office move2 facts ▸
Gazette deed
Registered office
Registered-office move2 facts ▸
- General meeting, 2024-08
- Registered-office move, avenue de l'Energie 17 à B-4432 Alleur
18-07
NBB filing
Annual accounts filed
financial year 2023 · micro format
2023
21-12
Gazette deed
Reappointments: EL KAROUNI Houcine (administrateur non statutaire) and HRISTOV DONCHEV Dimitri (administrateur non statutaire)Registered office clause · Shareholding · Capital conversion20 facts ▸
Gazette deed
Reappointments: EL KAROUNI Houcine (administrateur non statutaire) and HRISTOV DONCHEV Dimitri (administrateur non statutaire)
Registered office clause · Shareholding · Capital conversion20 facts ▸
- Other provision, “vote adoption nouveaux statuts, adoptée à l'unanimité” (deed in French)
- Director reappointment, EL KAROUNI Houcine (administrateur non statutaire)
- Director reappointment, HRISTOV DONCHEV Dimitri (administrateur non statutaire)
- Registered office clause, “adoptée à l'unanimité, 4460 Grâce-Hollogne,rue de l’Expansion,49” (deed in French)
- Other provision, “identification comparants état civil, nom,prénoms,lieu,date naissance,domicile au vu pièces légales” (deed in French)
- Other provision, “frais et droit écriture”, EUR (deed in French)
- Other provision, “Liège,Etude (2ème Canton), clôture et signature” (deed in French)
- General meeting, 15-12-2023
- Shareholding, 15-12-2023, 40
- Shareholding, 15-12-2023, 15
- Shareholding, 15-12-2023, 5 (4 times)
- Shareholding, 15-12-2023, 15-12-2023
- +8 further facts in this act
12-09
Gazette deed
Resignation: Nikola HRISTOV NOZHAROV (operating manager)Registered-office move · Partner7 facts ▸
Gazette deed
Resignation: Nikola HRISTOV NOZHAROV (operating manager)
Registered-office move · Partner7 facts ▸
- General meeting, 25-08-2023
- Registered-office move, rue de l'Expansion 49 à B-4460 Grâce-Hollogne
- Director resignation, Nikola HRISTOV NOZHAROV (operating manager)
- Partner, EL KAROUNI Houcine
- Director in office, EL KAROUNI Houcine (director)
- Partner, HRISTOV Dimitar
- Director in office, HRISTOV Dimitar (director)
04-07
NBB filing
Annual accounts filed
financial year 2022 · micro format
2022
31-12
Financial
Highest result from 2018 to 2025net €37,662 ▲48.5%
Net result €37,662, the highest in the series.
31-12
Financial
Equity above €100,000equity €114,668 ▲48.9%
A profit in every financial year since 2018 builds equity to €114,668.
31-08
NBB filing
Annual accounts filed
financial year 2021 · micro format · 31 days late
2021
24-09
NBB filing
Annual accounts filed
financial year 2020 · micro format · 55 days late
2020
07-09
NBB filing
Annual accounts filed
financial year 2019 · micro format · 38 days late
Show earlier events
2019
31-08
NBB filing
Annual accounts filed
financial year 2018 · micro format · 31 days late
2018
28-09
NBB filing
Annual accounts filed
financial year 2017 · micro format · 59 days late
2017
29-09
NBB filing
Annual accounts filed
financial year 2016 · full format · 60 days late
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 14 annual accounts filed, the latest 10 are here; all 14 are under Financials.
3 of 12 deeds read
About the unread acts
Of the 12 Belgian Official Gazette deeds we know for this company, 3 have been read. The other 9 have not been read yet: what they contain is neither established nor disproved here.
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Register details
Identification
Legal formPrivate limited company
Founded18-05-2012
Financial year end31-12
Activities, NACEBEL 2025
43320Joinery installation
47781Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
43230Insulation installation
46190Agents in non-specialised wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0846022518
Registered
09-08-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 26 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0846.022.518
Recognitions · licences · registrations
Legal Entity Identifier
254900FX75NX329RLI06
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Ans · 1 establishment unit since 2012
Ground area
2.3 ha
Building footprint
127 m²
Building volume
563 m³
Parcel 62001B0373/00D000, Wallonia · tallest building 5.3 m. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
TMS CONSTRUCT
since 2012unit no. 2.210.566.751
1 parcel
Wallonia
1
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62001B0373/00D000 | Wallonia | 2.3 ha | 1 · 127 m² | 5.3 m · 1 |
How the parcels are linked
Good to know
The parcel matches the address exactly.
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Toutes opérations se rapportant directement ou indirectement à tous travaux d’entreprise générale de construction,tous travaux de…” (deed in French)
5 activities (deed in French)
- Toutes opérations se rapportant directement ou indirectement à tous travaux d’entreprise générale de construction,tous travaux de transformation,rénovation,entretien et maintenance de bâtiments,les travaux de maçonnerie et béton,les travaux de terrassement,les travaux d’égouttage privés,de fabrication de bassins pour piscines et pataugeoires,de pose de canalisations diverses,les travaux de démolition,les travaux d’aménagement et d’entretien de paysages,parcs et jardins,de plantations,de poses de clôture ; les travaux de drainage,la pose de carrelages,de cimentage,de sablage et de rejointement,les travaux de couverture métallique et non métallique de construction,de menuiserie intérieure et extérieure,d’étanchéité,les travaux d’isolation acoustique et thermique,les travaux d’installation de système d’épuration des eaux,la coordination générale sur chantiers lors de leur exécution par des sous-traitants
- Tous travaux de plafonnage,de peinture et de parachèvement,ainsi que le placement de cloisons en tout genre
- L’étude et la réalisation de tous travaux de construction,publics ou privés,en qualité d’entrepreneur général ou en sous-traitance,la conception et la construction de tous bâtiments et édifices,l’étude et la réalisation de décorations tant intérieures qu’extérieures
- L’achat,la vente en gros ou en détail,la location,l’importation,l’exportation de tous matériaux,marchandises,appareils et outillages directement ou indirectement liés aux activités qui précèdent et notamment de tous matériaux de construction
- La prestation de services,le management et la consultance
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- TMS CONSTRUCT
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne, sièges administratifs,agences,ateliers,dépôts,succursales Belgique et étranger par organe administration” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Avec ou sans limitation de durée, organe d'administration” (deed in French)“Assemblée générale, ad nutum” (deed in French)“Frais représentation voyages déplacements en sus, rémunération administrateurs” (deed in French)
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- One provision in the deed
- Share issue ruleHow and by whom new shares can be issued.
- “Entièrement souscrites ou plus aucun ne se prévale, tous existants ont préférence” (deed in French)
- Financial instrumentSecurities other than shares, such as bonds or warrants, the company can issue.
- One provision in the deed
- Membership ruleWho can become a member or partner, and on what terms.
- “Démission-exclusion, patrimoine de la société” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last Friday of June at 09:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Tout temps, assemblée générale formes modifications statuts” (deed in French)1 more provision on this in the deed
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- One provision in the deed