TPJE
ActiveSummary
TPJE has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €26.1m and a net result of €1.6m. Equity is growing by ~15.6% per year across the filed fiscal years. Its solvency ranks better than 79% of 9294 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▲+31
Solvency95▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000,000 at 30 days acceptable
Liquidity short (current ratio 0.88 against 2.37 in 2024; short-term debt: 13% and cash: 2.2% of total assets), and 30.1% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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
69.9%
Return on assets
4.3%
Age of the figures
9 mo
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 28-05-2026, 64 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
64 d early
2024
38 d early
2023
29 d early
2022
14 d early
2021
60 d late
2020
17 d late
2019
68 d 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 on the deadline day; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#5 company by equity in Ostend, Real estate sector#6 company by total assets in Ostend, Real estate sector
Equity
€26.1m▲ 190%
2024 · €9.0m
Total assets
€37.4m▲ 157%
2024 · €14.5m
Net result
€1.6m▲ 280%
2024 · €425,636
Working capital
-€581,250
2024 · €6.9m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€51,348€4.3m▲ 8,185%€860,757▼ 79.8%€721,089▼ 16.2%€2.5m▲ 248%
Net result€167,378€3.2m▲ 1,839%€543,658▼ 83.2%€425,636▼ 21.7%€1.6m▲ 280%
Equity€4.8m▲ 3.6%€8.1m▲ 67.4%€8.6m▲ 6.7%€9.0m▲ 4.9%€26.1m▲ 190%
Total assets€18.0m▲ 43.1%€18.5m▲ 2.9%€14.5m▼ 21.8%€14.5m▲ 0.4%€37.4m▲ 157%
Debt€13.2m▲ 66.2%€10.5m▼ 20.7%€5.9m▼ 43.8%€5.5m▼ 6.3%€8.7m▲ 57.8%
Working capital-€1.0m€8.3m€6.1m▼ 25.8%€6.9m▲ 13.0%-€581,250
Staff (FTE)000
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Why a figure moved sharply
- 2025 Net result +280%, Equity +190%, Total assets +157% on 2024. Cause not known from the registers.
- 2023 Net result -83% on 2022. Cause not known from the registers.
- 2022 Net result +1,839%, Equity +67% on 2021. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 248% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €37.4m
Fixed assets
€33.1m ▲ 1,195%
Current assets
€4.3m ▼ 64.4%
Equity and liabilities €37.4m
Equity
€26.1m ▲ 190%
Provisions
€2.5m
Debt
€8.7m ▲ 57.8%
Debt's share of the balance-sheet total falls from 38.0% to 23.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€3.9m▲
2024 · €992,302
Cash flow
€3.0m▲
2024 · €696,848
Current ratio
0.88▼
2024 · 2.37
Debt to equity
0.33▼
2024 · 0.61
ROE
6.2%▲
2024 · 4.7%
ROA
4.3%▲
2024 · 2.9%
Interest coverage
7.71▲
2024 · 2.48
Debt ≤ 1 year
€4.8m▼
2024 · €5.1m
Debt > 1 year
€3.4m
Income taxes
€262,588▲
2024 · €142,973
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 135 companies that looked in July 2024 the way this one looks now, 0% went bankrupt within 24 months and 92% are still going.
- Large
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0%
went bankrupt
8.1%
stopped otherwise
92%
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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 135 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €1.2m | €0 | - | €1.8m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €972,630 | €333,082 | €332,025 | €271,213 | €1.4m | ▲ 404% |
| Other operating charges640/8 | €115,885 | €231,333 | €26,455 | €147,609 | €263,071 | ▲ 78.2% |
| Non-recurring operating charges66A | €0 | - | - | - | - | - |
| Gross operating margin9900 | €1.1m | €4.8m | €1.2m | €1.1m | €4.1m | ▲ 263% |
| Operating profit (loss)9901 | €51,348 | €4.3m | €860,757 | €721,089 | €2.5m | ▲ 248% |
| Financial income75/76B | €147,438 | €162,716 | €216,754 | €247,293 | €92,699 | ▼ 62.5% |
| Recurring financial income75 | €147,438 | €162,716 | €216,754 | €247,293 | €92,699 | ▼ 62.5% |
| Financial charges65/66B | €31,407 | €213,397 | €352,630 | €399,774 | €502,374 | ▲ 25.7% |
| Recurring financial charges65 | €31,407 | €213,397 | €352,630 | €399,774 | €502,374 | ▲ 25.7% |
| Profit (loss) for the period before taxes9903 | €167,378 | €4.2m | €724,881 | €568,609 | €2.1m | ▲ 269% |
| Transfer from deferred taxes780 | - | - | - | - | €214,674 | - |
| Transfer to deferred taxes680 | - | - | - | - | €431,469 | - |
| Income taxes67/77 | - | €958,654 | €181,223 | €142,973 | €262,588 | ▲ 83.7% |
| Profit (loss) for the period9904 | €167,378 | €3.2m | €543,658 | €425,636 | €1.6m | ▲ 280% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €461,872 | - |
| Transfer to tax-exempt reserves689 | - | - | - | - | €1.3m | - |
| Profit (loss) for the period to be appropriated9905 | €167,378 | €3.2m | €543,658 | €425,636 | €786,036 | ▲ 84.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €18.0m | €18.5m | €14.5m | €14.5m | €37.4m | ▲ 157% |
| Fixed assets21/28 | €9.4m | €3.1m | €2.8m | €2.6m | €33.1m | ▲ 1,195% |
| Tangible fixed assets22/27 | €8.5m | €2.2m | €1.9m | €1.6m | €29.8m | ▲ 1,727% |
| Land and buildings22 | €8.5m | €2.2m | €1.9m | €1.6m | €29.8m | ▲ 1,730% |
| Plant, machinery and equipment23 | - | - | €4,882 | €3,480 | €3,327 | ▼ 4.4% |
| Furniture and vehicles24 | - | - | - | - | €2,353 | - |
| Financial fixed assets28 | €926,000 | €926,000 | €926,000 | €926,000 | €3.3m | ▲ 261% |
| Current assets29/58 | €8.6m | €15.4m | €11.7m | €12.0m | €4.3m | ▼ 64.4% |
| Amounts receivable after more than one year29 | €0 | - | - | - | - | - |
| Other amounts receivable291 | €0 | - | - | - | - | - |
| Stocks and contracts in progress3 | €707,772 | €878,230 | €153,595 | €0 | - | - |
| Contracts in progress37 | €707,772 | €878,230 | €153,595 | €0 | - | - |
| Amounts receivable within one year40/41 | €6.5m | €7.9m | €9.9m | €11.9m | €2.7m | ▼ 77.6% |
| Trade receivables40 | €152,856 | €533,241 | €107,530 | €427,191 | €489,451 | ▲ 14.6% |
| Other amounts receivable41 | €6.3m | €7.4m | €9.8m | €11.5m | €2.2m | ▼ 81.1% |
| Current investments50/53 | - | - | €1.0m | €0 | €647,134 | - |
| Cash at bank and in hand54/58 | €1.4m | €6.6m | €561,072 | €34,280 | €825,413 | ▲ 2,308% |
| Deferred charges and accrued income490/1 | €2,258 | €7,657 | €10,909 | €17,342 | €126,270 | ▲ 628% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €18.0m | €18.5m | €14.5m | €14.5m | €37.4m | ▲ 157% |
| Equity10/15 | €4.8m | €8.1m | €8.6m | €9.0m | €26.1m | ▲ 190% |
| Contributions10/11 | €925,819 | €925,819 | €925,819 | €925,819 | €5.5m | ▲ 499% |
| Capital10 | €925,819 | €925,819 | €925,819 | €925,819 | €5.5m | ▲ 499% |
| Issued capital100 | €925,819 | €925,819 | €925,819 | €925,819 | €5.5m | ▲ 499% |
| Reserves13 | €3.9m | €7.1m | €7.7m | €8.1m | €20.6m | ▲ 154% |
| Non-distributable reserves130/1 | €92,582 | €92,582 | €92,582 | €92,582 | €554,582 | ▲ 499% |
| Legal reserve130 | €92,582 | €92,582 | €92,582 | €92,582 | €554,582 | ▲ 499% |
| Tax-exempt reserves132 | €317,040 | €317,040 | €317,040 | €317,040 | €6.8m | ▲ 2,042% |
| Distributable reserves133 | €3.5m | €6.7m | €7.3m | €7.7m | €13.3m | ▲ 72.3% |
| Provisions and deferred taxes16 | - | - | - | - | €2.5m | - |
| Deferred taxes168 | - | - | - | - | €2.5m | - |
| Amounts payable17/49 | €13.2m | €10.5m | €5.9m | €5.5m | €8.7m | ▲ 57.8% |
| Amounts payable after more than one year17 | €3.5m | €3.1m | €0 | - | €3.4m | - |
| Financial debts170/4 | €3.5m | €3.1m | €0 | - | €3.4m | - |
| Amounts payable within one year42/48 | €9.6m | €7.1m | €5.5m | €5.1m | €4.8m | ▼ 4.1% |
| Current portion of amounts payable after more than one year42 | €400,000 | €399,997 | €0 | - | €400,000 | - |
| Trade debts44 | €185,475 | €285,444 | €205,840 | €101,323 | €308,419 | ▲ 204% |
| Suppliers440/4 | €185,475 | €285,444 | €205,840 | €101,323 | €308,419 | ▲ 204% |
| Taxes, remuneration and social security45 | €60,918 | €34,510 | €71,977 | €105,320 | €81,502 | ▼ 22.6% |
| Taxes450/3 | €49,918 | €16,616 | €53,406 | €85,941 | €68,502 | ▼ 20.3% |
| Remuneration and social security454/9 | €11,000 | €17,895 | €18,571 | €19,378 | €13,000 | ▼ 32.9% |
| Other amounts payable47/48 | €9.0m | €6.4m | €5.3m | €4.9m | €4.1m | ▼ 16.3% |
| Accrued charges and deferred income492/3 | €56,978 | €228,493 | €363,338 | €465,282 | €466,422 | ▲ 0.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €167,378 | €3.2m | €543,658 | €425,636 | €1.6m | ▲ 280% |
| + Depreciation and write-downs630 | €972,630 | €333,082 | €332,025 | €271,213 | €1.4m | ▲ 404% |
| Operating cash flow (approximation) | €1.1m | €3.6m | €875,683 | €696,848 | €3.0m | ▲ 328% |
| Investment in fixed assets (approximation) | - | €6.0m | -€13,721 | €0 | -€31.9m | - |
| Change in cash | - | €5.2m | -€6.1m | -€526,792 | €791,133 | ▲ 250% |
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
28-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Equity above €25mEq €26.1m ▲190%
5 profitable years in a row build equity to €26.1m.
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
11-01
State Gazette act
General meeting · Statutes amendment
Director resignation · Director reappointment · Alex DE WULF
2023
17-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €3.2m ▲1,839%
Operating result €4.3m, net result €3.2m, both a record.
31-12
Financial
Liquidity doublescurrent ratio 2.16
Current ratio from 0.89 to 2.16; short-term debt falls from €9.6m to €7.1m.
31-12
Financial
Equity above €5mEq €8.1m ▲67.4%
2 profitable years in a row build equity to €8.1m.
29-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 60 days late
2021
31-12
Financial
Back to profitnet €167,378
Net result €167,378 after 2 loss-making years.
17-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 17 days late
Show earlier events
2020
31-12
Financial
Liquidity doublescurrent ratio 1.11
Current ratio from 0.54 to 1.11; short-term debt falls from €8.8m to €7.9m.
07-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 68 days late
2019
31-12
Financial
Weakest financial yearnet -€490,907
Net result drops to -€490,907, the lowest in the series; recovery starts the following year.
18-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
14-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
30-05
State Gazette act
Merger · Name change
Capital · Capital increase
2017
23-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2015
31-12
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Oostende · 1 establishment unit since 2015
Ground area
2.8 ha
Building footprint
2.4 ha
Volume, LiDAR
184,194 m³
Parcel 35382D0096/00T000, Flanders · tallest building 11.9 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
TPJE
since 20152.244.492.106
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35382D0096/00T000 | Flanders | 2.8 ha | 1 · 2.4 ha | 11.9 m · 3 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.
Structure & network
Owners and holdings
1 owner · 4 holdingsOwners 1
- Sourceaccounts TOPAN 20240.01%
Holdings 4
-
33.33%
-
33.33%
-
33.33%
-
0.13%
According to the 2025 annual accounts of TPJE and those of the other companies, the acts in the Belgian Gazette and the LEI register. 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 fill in these statements, or need not, is missing.
Connections & network
The group is listed under Ownership & control below; here you explore it as a network.
This company
Company
Director
Shareholding
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
3 locations
Recognitions · licences · registrations
Legal Entity Identifier
529900R83QYC8ECYLO42
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Identification & contact
Identification
Legal formPublic limited company
Founded31-07-2015
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
64210Activities of holding companies
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
70200Business and other management consultancy
82100Office administrative and support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0634909441
Also
9925:BE0634909441
Registered
23-06-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.