TRANSELEC · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of TRANSELEC is 1.1% (low). The 2023 annual accounts show equity of €192k and a net result of €34k. Equity is growing by ~5.7% per year across the filed fiscal years. Its solvency ranks better than 77% of 368 sector peers (fiscal year 2023). The company has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 6 annual accounts.

Signals

2 signals · with evidence

Strong solvency vs sector

Solvency is in the sector's strongest quartile: better than 77% of 368 peers (2023). A comfortable equity buffer.

View the sector comparison

Growing equity

Equity grew over 2021-2023. Profits are largely retained rather than distributed.

View the equity trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Annual accounts not filed

The financial year that closed on 31-12-2024 was due at the National Bank by 31-07-2025. Nothing is on record today, 380 days later. 2 financial years are missing in total. Measured on financial year 2023: 41.75% of the companies that did not file are in an abnormal legal state today, against 1.66% of those that did.

Filed more than 90 days late

The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 30-03-2026, 607 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.

How we compute the deadline

The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2023, that is 31-07-2024.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	nothing on record	not filed	-
31-12-2024	31-07-2025	nothing on record	not filed	-
31-12-2023	31-07-2024	30-03-2026	607 d late	2026-00071739
31-12-2022	31-07-2023	03-06-2024	308 d late	2024-00106385
31-12-2021	31-07-2022	11-01-2023	164 d late	2023-20556650
31-12-2020	31-07-2021	26-11-2021	118 d late	2021-78400004
31-12-2019	31-07-2020	09-11-2020	101 d late	2020-69200528
31-12-2018	31-07-2019	29-04-2020	273 d late	2020-10600278
31-12-2017	31-07-2018	23-11-2018	115 d late	2018-72700316
31-12-2016	31-07-2017	29-11-2017	121 d late	2017-70800077
31-12-2015	31-07-2016	28-09-2016	59 d late	2016-62200525
31-12-2014	31-07-2015	30-09-2015	61 d late	2015-62300517

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

Long-established

Founded in 2005, 20 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

1.1% Low

0%0,5%1,5%4%10%≥25%

Higher-failure-rate sector +Long track record −Annual accounts: weaker financial profile +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€34k

Working capital€180k+20.9%

CSV export

Annual accounts & ratios

Source: NBB · 2023

Annual accounts filed on 30-03-2026 with the NBB · fiscal year 2023 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~5.7%/year over 6 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

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).

Sector comparison

Fiscal year 2023 · NACE 52 · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	66.8%	32.4%	better than 77% of 368 sector peers
Net result	€34k	€7k	better than 78% of 368 sector peers
Equity	€192k	€23k	better than 90% of 368 sector peers
Gross operating margin	€62k	€30k	better than 68% of 364 sector peers
Total assets	€288k	€103k	better than 77% of 368 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P77

Stable position over 2020-2023 · n=76-368

Net result P78

Stable position over 2020-2023 · n=76-368

Equity P90

Stable position over 2020-2023 · n=76-368

Gross operating margin P68

Improving position over 2020-2023 · n=76-364

Describes the position versus peers, not a forecast.

EBITDA

€57k

+854.2% 18-23

Net profit

€34k

- 18-23

Cash flow

€41k

+727.9% 18-23

Total assets

€288k

+22.9% 18-23

Equity

€192k

+21.6% 18-23

Working capital

€180k

+20.9% 18-23

Income taxes

€14k

+3853.9% 18-23

Debt

€96k

+25.5% 18-23

Debt ≤ 1y

€89k

+39.8% 18-23

Debt > 1y

€6k

-49.7% 18-23

Current ratio

3.02

-9.4% 18-23

Quick ratio

2.87

-8.2% 18-23

Solvency

66.8%

-1.0% 18-23

Debt / equity

0.50

+3.2% 18-23

ROE

17.8%

- 18-23

ROA

11.9%

- 18-23

Interest coverage

29.62

+217.5% 18-23

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2023
Deposit	micro
Revenue	-
EBITDA	€57k
Net profit	€34k
Cash flow	€41k
Staff costs	-
Income taxes	€14k
Dividends	-
Total assets	€288k
Equity	€192k
Debt	€96k
of which ≤ 1y	€89k
of which > 1y	€6k
Working capital	€180k
Employees (FTE)	-

Ratios (computed)

	2023
Current ratio	3.02
Quick ratio	2.87
Working capital ratio	62.6%
Solvency	66.8%
Debt / equity	0.50
Long-term debt ratio	0.03
Interest coverage	29.62
Gross margin	-
Net margin	-
ROA	11.9%
ROE	17.8%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2023

Assets

Fixed assets €18k · 6.3% Current assets €270k · 93.7%

Equity & liabilities

Equity €192k · 66.8% Debt €96k · 33.2%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2023
Balance sheet, Assets
TOTAL ASSETS	20/58	€288k
Fixed assets	21/28	€18k
Tangible fixed assets	22/27	€17k
Financial fixed assets	28	€1k
Current assets	29/58	€270k
Stocks & contracts in progress	3	€13k
Amounts receivable within one year	40/41	€234k
Cash & bank	54/58	€3k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€288k
Equity	10/15	€192k
Contributions / capital	10/11	€6k
Reserves	13	€31k
Accumulated profits (losses)	14	€155k
Amounts payable	17/49	€96k
Amounts payable after one year	17	€6k
Amounts payable within one year	42/48	€89k
Trade debts payable within one year	44	€931
Income statement
Gross operating margin	9900	€62k
Operating result	9901	€50k
Financial income	75	€9
Financial charges	65	€2k
Result before taxes	9903	€48k
Income taxes	67/77	€14k
Net result for the period	9904	€34k
Result to be appropriated	9905	€34k

You are seeing the latest fiscal year only. 4 prior years (figures + ratios) are in a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2023 · computed

100 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2023. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

on the map · from the address register

exact location from the address register On OpenStreetMap

3 companies at this address See who is registered here

Establishment units

1 location

TRANSELEC

Rue de Laneuville 11, 6640 Vaux-sur-SûreVervaardiging van metalen constructiewerken en delen daarvan

since 20102.204.262.741

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area599 m²

Buildings1

Building footprint191 m²

Volume (LiDAR)1,050 m³

Tallest building9.0 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

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.

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
82031C0255/00G000	Wallonia	599 m²	1 · 191 m²	9.0 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

No structured acts for this company yet

That means one of two things: the company has published no company deeds, or its deeds are still queued for reading. The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Snowflake analysis

financial profile on 5 axes

88 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 100

Profitability 89

Solvency 100

Growth 52

Stability 100

Credit advice

verdict per customer and amount

Similar

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We hold annual accounts for 169 of the 1,717 companies in this sector. 104 of them are within a factor 10 of this company's equity.

See full sector →

Company registry

Company registry (CBE)

Crossroads Bank

Activities

Diensten in verband met vervoer te land52210Diensten in verband met vervoer te land52210Overige ondersteunende activiteiten i.v.m. het vervoer te land63210Goederenvervoer over de weg, m.u.v. verhuisbedrijven49410Goederenvervoer over de weg49410Goederenvervoer over de weg60242

Primary activity highlighted.

Names & trade names

Legal nameFR

TRANSELEC

Registered office

Rue de Laneuville 11

6640 Vaux-sur-Sûre, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.