TP-TRANS
ActiveFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 08-10-2026 at the NBB all 6 filings
Turnover
≈ €540,000
Estimated: probably between €470,000 and €750,000
Total assets
€441,288▼ 2.5%
2025 · €452,741
Net result
€87,855▲ 80.1%
2025 · €48,792
Working capital
€52,749▼ 39.7%
2025 · €87,523
In the rankings
#8 company by equity in Ichtegem, Transport and storage sector
Multi-year overview
2021 to 2026, 6 financial yearsOperating result
€123,787
▲ 49.3%
2026
20212026
Net result
€87,855
▲ 80.1%
2026
20212026
Equity
€288,647
▲ 24.6%
2026
20212026
Total assets
€441,288
▼ 2.5%
2026
20212026
Debt
€152,641
▼ 30.9%
2026
20212026
Working capital
€52,749
▼ 39.7%
2026
20212026
Solvency
65.4%
▲ 14.2pp
2026
20212026
Current ratio
1.61
▼ 0.32
2026
20212026
Return on assets (ROA)
19.9%
▲ 9.1pp
2026
20212026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202120222023202420252026
Operating result€66,809-€61,964▼ 7.3%€64,785▲ 4.6%€43,765▼ 32.4%€82,919▲ 89.5%€123,787▲ 49.3%
Net result€47,718above the sector's middle half-€44,061above the sector's middle half▼ 7.7%€51,695above the sector's middle half▲ 17.3%€30,321above the sector's middle half▼ 41.3%€48,792above the sector's middle half▲ 60.9%€87,855▲ 80.1%
Equity€55,218within the sector's middle half-€99,279within the sector's middle half▲ 79.8%€153,800above the sector's middle half▲ 54.9%€183,521above the sector's middle half▲ 19.3%€231,713above the sector's middle half▲ 26.3%€288,647▲ 24.6%
Total assets€116,326within the sector's middle half-€147,858within the sector's middle half▲ 27.1%€357,594above the sector's middle half▲ 142%€423,396above the sector's middle half▲ 18.4%€452,741above the sector's middle half▲ 6.9%€441,288▼ 2.5%
Debt€61,108-€48,579▼ 20.5%€203,794▲ 320%€239,875▲ 17.7%€221,028▼ 7.9%€152,641▼ 30.9%
Working capital€34,800within the sector's middle half-€74,252above the sector's middle half▲ 113%€21,939within the sector's middle half▼ 70.5%€48,486within the sector's middle half▲ 121%€87,523above the sector's middle half▲ 80.5%€52,749▼ 39.7%
Solvency47.5%within the sector's middle half-67.1%above the sector's middle half▲ 19.7pp43.0%within the sector's middle half▼ 24.1pp43.3%within the sector's middle half▲ 0.3pp51.2%within the sector's middle half▲ 7.8pp65.4%▲ 14.2pp
Current ratio1.77within the sector's middle half-2.60within the sector's middle half▲ 0.841.17within the sector's middle half▼ 1.431.60within the sector's middle half▲ 0.431.93within the sector's middle half▲ 0.331.61▼ 0.32
Return on assets (ROA)41.0%above the sector's middle half-29.8%above the sector's middle half▼ 11.2pp14.5%within the sector's middle half▼ 15.3pp7.2%within the sector's middle half▼ 7.3pp10.8%within the sector's middle half▲ 3.6pp19.9%▲ 9.1pp
above
within
below
The sector band is the middle half of the companies in Land transport and transport via pipelines (NACE 49). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2026 is 49% higher than in 2025 and the highest since 2022. It is the second rise in a row, after the fall in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €441,288
Fixed assets
€302,121 ▲ 11.4%
Current assets
€139,166 ▼ 23.3%
Equity and liabilities €441,288
Equity
€288,647 ▲ 24.6%
Debt
€152,641 ▼ 30.9%
Debt's share of the balance-sheet total falls from 48.8% to 34.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€213,379▲
2025 · €157,520
Cash flow
€177,447▲
2025 · €123,393
Debt to equity
0.53▼
2025 · 0.95
ROE
30.4%▲
2025 · 21.1%
Interest coverage
31.03▲
2025 · 17.21
Debt ≤ 1 year
€86,417▼
2025 · €93,927
Debt > 1 year
€66,224▼
2025 · €126,839
Income taxes
€29,843▲
2025 · €17,462
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €214,391 | €140,110 | €95,098 | €120,423 |
| Depreciation and write-downs of the year | €8,934 | €8,907 | €54,154 | €74,601 | €89,592 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 to 2025 · 2 entries · €3,038 awarded · €3,000 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €38 | €0 |
| 2023 | 1 | €3,000 | €3,000 |
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €10,943 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | - | €4,505 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,543 | €8,934 | €8,907 | €54,154 | €74,601 | €89,592 | ▲ 20.1% |
| Other operating charges640/8 | - | €906 | €1,191 | €1,104 | €2,946 | €1,458 | ▼ 50.5% |
| Gross operating margin9900 | €78,408 | €71,805 | €74,883 | €99,022 | €164,971 | €214,837 | ▲ 30.2% |
| Operating profit (loss)9901 | €66,809 | €61,964 | €64,785 | €43,765 | €82,919 | €123,787 | ▲ 49.3% |
| Financial income75/76B | - | €0 | €1,684 | €600 | €600 | €789 | ▲ 31.4% |
| Recurring financial income75 | €0 | €0 | €1,684 | €600 | €600 | €789 | ▲ 31.4% |
| Financial charges65/66B | - | €715 | €1,249 | €6,271 | €17,265 | €6,877 | ▼ 60.2% |
| Recurring financial charges65 | €1,301 | €715 | €1,249 | €6,271 | €9,152 | €6,877 | ▼ 24.9% |
| Non-recurring financial charges66B | - | - | - | - | €8,113 | - | - |
| Profit (loss) for the period before taxes9903 | €65,508 | €61,250 | €65,220 | €38,094 | €66,254 | €117,698 | ▲ 77.6% |
| Income taxes67/77 | €17,790 | €17,189 | €13,525 | €7,773 | €17,462 | €29,843 | ▲ 70.9% |
| Profit (loss) for the period9904 | €47,718 | €44,061 | €51,695 | €30,321 | €48,792 | €87,855 | ▲ 80.1% |
| Profit (loss) for the period to be appropriated9905 | €47,718 | €44,061 | €51,695 | €30,321 | €48,792 | €87,855 | ▲ 80.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €116,326 | €147,858 | €357,594 | €423,396 | €452,741 | €441,288 | ▼ 2.5% |
| Fixed assets21/28 | €36,236 | €27,301 | €208,479 | €294,435 | €271,291 | €302,121 | ▲ 11.4% |
| Tangible fixed assets22/27 | €36,236 | €27,301 | €208,479 | €294,435 | €271,291 | €302,121 | ▲ 11.4% |
| Land and buildings22 | - | - | - | - | - | €63,249 | - |
| Plant, machinery and equipment23 | - | €2,995 | €27,218 | €151,013 | €132,314 | €108,476 | ▼ 18.0% |
| Furniture and vehicles24 | - | €24,307 | €181,261 | €143,422 | €138,977 | €130,397 | ▼ 6.2% |
| Current assets29/58 | €80,090 | €120,556 | €149,115 | €128,961 | €181,450 | €139,166 | ▼ 23.3% |
| Amounts receivable within one year40/41 | €21,882 | €22,809 | €11,510 | €73,189 | €79,754 | €61,192 | ▼ 23.3% |
| Trade receivables40 | - | €22,270 | €3,393 | €70,162 | €74,926 | €61,042 | ▼ 18.5% |
| Other amounts receivable41 | - | €539 | €8,117 | €3,027 | €4,828 | €150 | ▼ 96.9% |
| Cash at bank and in hand54/58 | €53,509 | €93,183 | €137,420 | €55,689 | €101,483 | €77,974 | ▼ 23.2% |
| Deferred charges and accrued income490/1 | - | €4,564 | €186 | €83 | €213 | - | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €116,326 | €147,858 | €357,594 | €423,396 | €452,741 | €441,288 | ▼ 2.5% |
| Equity10/15 | €55,218 | €99,279 | €153,800 | €183,521 | €231,713 | €288,647 | ▲ 24.6% |
| Contributions10/11 | - | €7,500 | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Reserves13 | €47,718 | €91,779 | €143,474 | €173,795 | €222,587 | €280,121 | ▲ 25.8% |
| Distributable reserves133 | - | €91,779 | €143,474 | €173,795 | €222,587 | €280,121 | ▲ 25.8% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | €0 | €0 | = |
| Investment grants15 | - | - | €2,826 | €2,226 | €1,626 | €1,026 | ▼ 36.9% |
| Amounts payable17/49 | €61,108 | €48,579 | €203,794 | €239,875 | €221,028 | €152,641 | ▼ 30.9% |
| Amounts payable after more than one year17 | €15,789 | €2,274 | €76,617 | €159,400 | €126,839 | €66,224 | ▼ 47.8% |
| Financial debts170/4 | - | €2,274 | €76,617 | €159,400 | €126,839 | €66,224 | ▼ 47.8% |
| Amounts payable within one year42/48 | €45,290 | €46,305 | €127,176 | €80,475 | €93,927 | €86,417 | ▼ 8.0% |
| Current portion of amounts payable after more than one year42 | - | €13,515 | €21,062 | €45,650 | €50,051 | €56,367 | ▲ 12.6% |
| Trade debts44 | €3,726 | - | €92,550 | €8,224 | €29,644 | €5,290 | ▼ 82.2% |
| Suppliers440/4 | - | - | €92,550 | €8,224 | €29,644 | €5,290 | ▼ 82.2% |
| Taxes, remuneration and social security45 | - | €29,749 | €13,565 | €20,812 | €7,834 | €14,054 | ▲ 79.4% |
| Taxes450/3 | - | €25,889 | €13,565 | €20,812 | €7,834 | €14,054 | ▲ 79.4% |
| Remuneration and social security454/9 | - | €3,860 | - | - | - | - | - |
| Other amounts payable47/48 | - | €3,041 | - | €5,789 | €6,399 | €10,707 | ▲ 67.3% |
| Accrued charges and deferred income492/3 | - | - | - | - | €262 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €47,718 | €44,061 | €51,695 | €30,321 | €48,792 | €87,855 | ▲ 80.1% |
| + Depreciation and write-downs630 | €9,543 | €8,934 | €8,907 | €54,154 | €74,601 | €89,592 | ▲ 20.1% |
| Operating cash flow (approximation) | €57,261 | €52,995 | €60,602 | €84,474 | €123,393 | €177,447 | ▲ 43.8% |
| Investment in fixed assets (approximation) | - | €0 | -€190,084 | -€140,110 | -€51,457 | -€120,423 | ▼ 134% |
| Change in cash | - | €39,673 | €44,237 | -€81,731 | €45,794 | -€23,509 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 26,972 companies had the same profile as TP-TRANS has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
94.9%
was still going
3.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of TP-TRANS itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 26,972 companies, not a prediction for TP-TRANS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 08-10-2026 | 2026-00552843 | |
| 31-03-2025 | micro format | 10-10-2025 | 2025-00540712 | |
| 31-03-2024 | micro format | 30-10-2024 | 2024-00523715 | |
| 31-03-2023 | micro format | 21-11-2023 | 2023-00514690 | |
| 31-03-2022 | micro format | 21-11-2023 | 2023-00514689 | |
| 31-03-2021 | micro format | 18-11-2021 | 2021-77500412 |