TQ PROJECTS
ActiveSummary
TQ PROJECTS has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.9m and a net result of €323,764. Equity is growing by ~35.7% per year across the filed fiscal years. Its solvency ranks better than 83% of 93 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability84▼-1
Solvency99▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €150,000 at 30 days acceptable
Liquidity ample (current ratio 7.38 against 6.52 in 2024; short-term debt: 10.5% and cash: 3.2% of total assets), and 25.5% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 61
Relative position
BE, all sectors
reference
Telecommunications (NACE 61)
about 159% more 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
74.5%
Return on assets
12.5%
Age of the figures
9 mo
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 12-06-2026, 49 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
49 d early
2024
41 d early
2023
44 d early
2022
32 d early
2021
23 d early
2020
29 d early
2019
30 d early
← 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 35 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% 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
Equity
€1.9m▲ 20.1%
2024 · €1.6m
Total assets
€2.6m▲ 8.7%
2024 · €2.4m
Net result
€323,764▲ 4.9%
2024 · €308,494
Working capital
€1.7m▲ 16.9%
2024 · €1.5m
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€241,484▲ 1.5%€468,188▲ 93.9%€515,069▲ 10.0%€450,422▼ 12.6%€464,079▲ 3.0%
Net result€177,635▼ 1.9%€341,555▲ 92.3%€354,388▲ 3.8%€308,494▼ 13.0%€323,764▲ 4.9%
Equity€605,702▲ 41.5%€947,257▲ 56.4%€1.3m▲ 37.4%€1.6m▲ 23.7%€1.9m▲ 20.1%
Total assets€1.7m▲ 0.3%€1.9m▲ 14.4%€2.2m▲ 16.4%€2.4m▲ 6.5%€2.6m▲ 8.7%
Debt€1.1m▼ 13.8%€981,078▼ 9.2%€942,006▼ 4.0%€778,890▼ 17.3%€663,323▼ 14.8%
Working capital€127,142€1.1m▲ 731%€1.3m▲ 27.0%€1.5m▲ 11.4%€1.7m▲ 16.9%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 3% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.6m
Fixed assets
€577,052 ▼ 7.5%
Current assets
€2.0m ▲ 14.5%
Equity and liabilities €2.6m
Equity
€1.9m ▲ 20.1%
Debt
€663,323 ▼ 14.8%
Debt's share of the balance-sheet total falls from 32.6% to 25.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€545,313▲
2024 · €526,534
Cash flow
€404,997▲
2024 · €384,606
Current ratio
7.38▲
2024 · 6.52
Debt to equity
0.34▼
2024 · 0.48
ROE
16.7%▼
2024 · 19.2%
ROA
12.5%▼
2024 · 12.9%
Interest coverage
17.79▲
2024 · 13.67
Debt ≤ 1 year
€273,853▲
2024 · €270,845
Debt > 1 year
€284,814▼
2024 · €407,513
Income taxes
€109,654▲
2024 · €103,413
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,082 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a higher bankruptcy probability: 0.6% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 20,082 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €236,399 | €136,931 | €90,319 | €76,112 | €81,233 | ▲ 6.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €1,039 | - | -€1,039 | - | - | - |
| Other operating charges640/8 | €43,583 | €47,986 | €52,546 | €67,310 | €62,159 | ▼ 7.7% |
| Gross operating margin9900 | €522,505 | €653,106 | €656,894 | €593,843 | €607,472 | ▲ 2.3% |
| Operating profit (loss)9901 | €241,484 | €468,188 | €515,069 | €450,422 | €464,079 | ▲ 3.0% |
| Financial income75/76B | €2,345 | €2,101 | - | - | - | - |
| Recurring financial income75 | €2,345 | €2,101 | - | - | - | - |
| Financial charges65/66B | €6,982 | €14,850 | €41,970 | €38,515 | €30,661 | ▼ 20.4% |
| Recurring financial charges65 | €6,982 | €14,850 | €41,970 | €38,515 | €30,661 | ▼ 20.4% |
| Profit (loss) for the period before taxes9903 | €236,847 | €455,439 | €473,099 | €411,907 | €433,418 | ▲ 5.2% |
| Income taxes67/77 | €59,212 | €113,884 | €118,711 | €103,413 | €109,654 | ▲ 6.0% |
| Profit (loss) for the period9904 | €177,635 | €341,555 | €354,388 | €308,494 | €323,764 | ▲ 4.9% |
| Profit (loss) for the period to be appropriated9905 | €177,635 | €341,555 | €354,388 | €308,494 | €323,764 | ▲ 4.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.7m | €1.9m | €2.2m | €2.4m | €2.6m | ▲ 8.7% |
| Fixed assets21/28 | €739,369 | €690,268 | €639,759 | €623,963 | €577,052 | ▼ 7.5% |
| Tangible fixed assets22/27 | €739,369 | €690,268 | €639,359 | €623,963 | €577,052 | ▼ 7.5% |
| Land and buildings22 | €594,783 | €493,274 | €455,623 | €470,268 | €444,805 | ▼ 5.4% |
| Plant, machinery and equipment23 | €1,864 | €4,004 | €3,607 | €6,904 | €7,146 | ▲ 3.5% |
| Other tangible fixed assets26 | €142,721 | €192,991 | €180,129 | €146,791 | €125,101 | ▼ 14.8% |
| Financial fixed assets28 | - | - | €400 | - | - | - |
| Current assets29/58 | €946,628 | €1.2m | €1.6m | €1.8m | €2.0m | ▲ 14.5% |
| Amounts receivable within one year40/41 | €830,370 | €1.2m | €1.5m | €1.7m | €1.9m | ▲ 12.3% |
| Trade receivables40 | €115,892 | €134,644 | €112,530 | €63,649 | €90,898 | ▲ 42.8% |
| Other amounts receivable41 | €714,478 | €1.0m | €1.4m | €1.7m | €1.8m | ▲ 11.1% |
| Cash at bank and in hand54/58 | €102,130 | €65,056 | €65,065 | €7,662 | €83,287 | ▲ 987% |
| Deferred charges and accrued income490/1 | €14,128 | €16,229 | €28,275 | €42,648 | €11,967 | ▼ 71.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.7m | €1.9m | €2.2m | €2.4m | €2.6m | ▲ 8.7% |
| Equity10/15 | €605,702 | €947,257 | €1.3m | €1.6m | €1.9m | ▲ 20.1% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Non-distributable reserves130/1 | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Legal reserve130 | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Profit (loss) carried forward14 | €538,052 | €879,607 | €1.2m | €1.5m | €1.9m | ▲ 21.0% |
| Amounts payable17/49 | €1.1m | €981,078 | €942,006 | €778,890 | €663,323 | ▼ 14.8% |
| Amounts payable after more than one year17 | €138,788 | €656,047 | €533,295 | €407,513 | €284,814 | ▼ 30.1% |
| Financial debts170/4 | €138,788 | €656,047 | €533,295 | €407,513 | €284,814 | ▼ 30.1% |
| Amounts payable within one year42/48 | €819,486 | €181,926 | €262,355 | €270,845 | €273,853 | ▲ 1.1% |
| Current portion of amounts payable after more than one year42 | €125,354 | €126,764 | €129,837 | €125,783 | €122,699 | ▼ 2.5% |
| Financial debts43 | €644,023 | - | €60,000 | - | - | - |
| Other loans439 | €644,023 | - | €60,000 | - | - | - |
| Trade debts44 | €41,481 | €33,763 | €45,481 | €82,648 | €67,364 | ▼ 18.5% |
| Suppliers440/4 | €41,481 | €33,763 | €45,481 | €82,648 | €67,364 | ▼ 18.5% |
| Taxes, remuneration and social security45 | €8,629 | €21,399 | €27,037 | €36,452 | €57,828 | ▲ 58.6% |
| Taxes450/3 | €8,629 | €21,399 | €27,037 | €36,452 | €57,828 | ▲ 58.6% |
| Other amounts payable47/48 | - | - | - | €25,963 | €25,963 | = |
| Accrued charges and deferred income492/3 | €122,021 | €143,105 | €146,356 | €100,533 | €104,656 | ▲ 4.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €177,635 | €341,555 | €354,388 | €308,494 | €323,764 | ▲ 4.9% |
| + Depreciation and write-downs630 | €236,399 | €136,931 | €90,319 | €76,112 | €81,233 | ▲ 6.7% |
| Operating cash flow (approximation) | €414,034 | €478,487 | €444,707 | €384,606 | €404,997 | ▲ 5.3% |
| Investment in fixed assets (approximation) | - | -€87,831 | -€39,810 | -€60,316 | -€34,322 | ▲ 43.1% |
| Change in cash | - | -€37,074 | €8 | -€57,402 | €75,625 | ▲ 232% |
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
12-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
17-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €354,388 ▲3.8%
Operating result €515,069, net result €354,388, both a record.
31-12
Financial
Equity above €1mEq €1.3m ▲37.4%
6 profitable years in a row build equity to €1.3m.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Liquidity times 6current ratio 6.81
Current ratio from 1.16 to 6.81; short-term debt falls from €819,486 to €181,926.
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €500,000Eq €605,702 ▲41.5%
4 profitable years in a row build equity to €605,702.
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
01-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet €143,531 ▼33.8%
Net result drops to €143,531, the lowest in the series; recovery starts the following year.
Show earlier events
31-12
Financial
Equity above €200,000Eq €246,929 ▲139%
2 profitable years in a row build equity to €246,929.
06-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 6 days late
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-06
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.
0 of 11 acts read
About the unread acts
We know of 11 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
11 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, Mechelen · 1 establishment unit since 2003
Ground area
2,378 m²
Building footprint
882 m²
Volume, LiDAR
3,137 m³
2 parcels, Flanders · tallest building 18.6 m, ±5 floors. Linked by address, not a title deed.
23
companies at this address
See who is registered here
1 establishment unit
Hendrik Consciencestraat 1 B, 2800 Mechelen
since 20032.123.256.259
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12403D0088/00X000 | Flanders | 1,691 m² | 1 · 659 m² | - |
| 12403D0088/00V000 | Flanders | 687 m² | 1 · 223 m² | 18.6 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Structure & network
Owners and holdings
1 ownerChain of control
- SC Projects
- TQ PROJECTS
Highest known parent: SC Projects. The sources do not say who stands above it.
Owners 1
- SC Projectsparent100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 136 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 136 EUR | 0 EUR |
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Of 1,372 companies in sector 61100 we hold annual accounts for 585. 199 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded09-12-2002
Fiscal year end31-12
Activities, NACEBEL 2025
61100Wired, wireless and satellite telecommunications
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0478971647
Registered
09-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.