TPAGS
The computed 12-month bankruptcy probability of TPAGS is 1.0% (low). The 2024 annual accounts show equity of €91k and a net result of €-7k. Equity remains stable across the filed fiscal years (±0.9% per year). Its solvency ranks better than 40% of 768 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
| Equity | €91k |
| Net result | €-7k |
| Better than sector | 40% |
| Active | 4 yrs |
Fragile profile, watch profitability in particular.
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
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The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 6.8% | 16.3% | |
| Net result | €-7k | €-2k | |
| Equity | €91k | €129k | |
| Gross operating margin | €9k | €45k | |
| Total assets | €1.34M | €1.71M |
| Fiscal year | 2024 |
|---|---|
| Revenue | €142k |
| EBITDA | - |
| Net profit | €-7k |
| Cash flow | - |
| Staff costs | - |
| Income taxes | - |
| Dividends | - |
| Total assets | €1.34M |
| Equity | €91k |
| Debt | €1.24M |
| of which ≤ 1y | €775k |
| of which > 1y | €470k |
| Working capital | €186k |
| Employees (FTE) | - |
| 2024 | |
|---|---|
| Current ratio | 1.24 |
| Quick ratio | 0.09 |
| Working capital ratio | 13.9% |
| Solvency | 6.8% |
| Debt / equity | 13.75 |
| Long-term debt ratio | 5.19 |
| Interest coverage | - |
| Gross margin | 6.1% |
| Net margin | -4.9% |
| ROA | -0.5% |
| ROE | -7.7% |
| EBITDA margin | - |
| Days sales outstanding | 0d |
| Days payable outstanding | 3d |
| Inventory turnover | 0.15 |
| Days inventory (DSI) | 2431d |
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €1.34M |
| Fixed assets | 21/28 | €375k |
| Tangible fixed assets | 22/27 | €0 |
| Financial fixed assets | 28 | €375k |
| Current assets | 29/58 | €960k |
| Stocks & contracts in progress | 3 | €888k |
| Amounts receivable within one year | 40/41 | €59k |
| Cash & bank | 54/58 | €13k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €1.34M |
| Equity | 10/15 | €91k |
| Contributions / capital | 10/11 | €1k |
| Accumulated profits (losses) | 14 | €90k |
| Amounts payable | 17/49 | €1.24M |
| Amounts payable after one year | 17 | €470k |
| Amounts payable within one year | 42/48 | €775k |
| Trade debts payable within one year | 44 | €931 |
| Income statement | ||
| Turnover | 70 | €142k |
| Gross operating margin | 9900 | €9k |
| Operating result | 9901 | €8k |
| Financial charges | 65 | €15k |
| Result before taxes | 9903 | €-7k |
| Net result for the period | 9904 | €-7k |
| Result to be appropriated | 9905 | €-7k |
-
Current21-01-2026 → present
-
SA HNK2Legal entityDirector· perm. rep.: Jean-Pierre BrusseleersState Gazette act 23072646 (06-06-2023)Current06-06-2023 → present
Former directors (1)
-
Former- → 21-01-2026
| NACE primary | Real estate activities(68121) |
| Legal form | Private limited company(610) |
| Incorporation | 30-09-2021 |
| Status | Active |
| Postal code | 4130 |
Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62032E0326/00A000 | Wallonia | 210 m² | 1 · 246 m² | 9.3 m · 3 fl. |
A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.
23-02-2026 1 director appointed, 1 resigning
- Julien COLLETTE, Bestuurder
- HNK2, Bestuurder
Technical details
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},
"effective_date": "2026-01-21",
"evidence_quote": "L\u0027assembl\u00E9e g\u00E9n\u00E9rale d\u00E9cide \u00E0 l\u0027unanimit\u00E9 d\u0027accepter la d\u00E9mission de cet administrateur, la s.a. HNK2 [dont le num\u00E9ro national est le 0404.707.457; dont le si\u00E8ge social est actuellement situ\u00E9 \u00E0 1170 Bruxelles, chauss\u00E9e de la Hulpe n\u00B0 150]. La d\u00E9mission intervient avec effet \u00E0 dater de ce jour. D\u00E9cha",
"discharge_granted": true
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"effective_date": "2026-01-21",
"evidence_quote": "Est nomm\u00E9 administrateur de la soci\u00E9t\u00E9, \u00E0 dater de ce jour, et pour une dur\u00E9e illimit\u00E9e, Monsieur Julien COLLETTE [dont le domicile est situ\u00E9 \u00E0 4122 Plainevaux, rue Tesni\u00E8re n\u00B0 46]."
}
],
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}06-06-2023 Jean-Pierre Brusseleers appointed as director
- Jean-Pierre Brusseleers, Bestuurder
Technical details
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"name": "SA HNK2",
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},
"evidence_quote": "L\u0027assembl\u00E9e acte la nomination de la SA HNK2, repr\u00E9sent\u00E9e par Monsieur JeanPierre Brusseleers comme Administrateur de la SRL TPAGS."
}
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}04-10-2021 Incorporation of a new SRL
Technical details
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"seat": "4130 Esneux, avenue Mont\u00E9fiore, 65",
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"founders": [
{
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"kbo": "0465.734.216",
"name": "M L Concept 2.000"
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"amount_paid_in_eur": 500,
"holder_person_name": null,
"is_subscriber_only": true,
"n_shares_subscribed": 150,
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{
"org": {
"kbo": "0447.981.929",
"name": "C.G.Invest"
},
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"capital_eur": 1000,
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"initial_directors": [],
"incorporation_date": "2021-09-30",
"post_incorporation_mandates": []
}Generate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.
| Legal nameFR | TPAGS |