Parent and group
- Square Equity100%
T-HL BELGIUM
ActiveSummary
T-HL BELGIUM has been active since 1989 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.4m and a net result of €71,172. Equity has been growing by about 3.4% per year since 2019. Its solvency ranks better than 71% of 313 sector peers (NACE 79, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Official details
Source: KBO- Status
- Active since 12-12-1989 Normal situation
- Activity
- Travel agency, tour operator and other reservation service and related activities NACE 79120
- Joint committees
- 100 Auxiliary committee for blue-collar workers
- 200 Auxiliary committee for white-collar workers · annual accounts 30-09-2025
- Establishment unit
- 2.046.295.667 8000 Bruges, since 20-02-1992
- Financial year end
- 30 September
- Peppol
- Reachable since 22-12-2025
Board and ownership
Board
- Icsonviva BVManaging director · permanent representative Kurt De Vreese
Shareholders
- T-HL International100%· score 8430-09-2025 annual accounts of T-HL International
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
Annual accounts to 30-09-2025
- Gross margin
- €598,289
- ▲ 8.1%
- Turnover
- ≈ €1.4m
- estimated
- Profit
- €71,172
- ▲ 55.8%
- Equity
- €1.4m
- ▲ 5.3%
- Total assets
- €2.7m
- ▼ 1.5%
- Employees on 30-09-2025
- 7
- =
Score breakdownlowers riskLiquidity: current ratio 2.69, cash €2.3mFounded in 1989Equity €1.4m (53.0% of total assets)Figures for financial year 2025 (filed on 14-01-2026)Show the evidence
Checked score
Score 2025
95
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 56% of micro companies in travel agencies (NACE 79)
Financial strength · tick: 2024
Strong
Solvency
78+3
equity 53.0% of total assets
Liquidity
84-5
short-term debt 35.5% · cash 85.4%
Profitability
36+4
return on assets 2.7%
Bankruptcy probability within 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%highest value
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025lowest value
11-2025: < 0.1%● unchanged vs 10-2025lowest value
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged vs 07-2026
09-2026: < 0.1%● unchanged vs 08-2026
10-2026: < 0.1%● unchanged vs 09-2026
11-2026: < 0.1%● unchanged vs 10-2026
Credit of up to €130,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.69 (3.55 in 2024), above the usual 1.5. Short-term debt is 35.5% and cash 85.4% of total assets. 47% of the assets are financed with debt and provisions.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 79, micro). It does better than 68% of them on solvency, 80% on liquidity, 26% on profitability and 50% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 30-09-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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Signals
Five signals.
lowers riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 14-01-2026, 106 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
106 days early
2024
92 days early
2023
103 days early
2022
152 days early
2021
186 days early
2020
18 days early
2019
119 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 111 days before the deadline. In the sector (NACE 79), the median for financial year 2024 was 7 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 14 January (4 of the last 5 accounts filed within 46 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end05-11-2026 today30-04-2027 deadline
Key points
Recent changes
- · Gazette deed 1 director appointed, 1 director resigningResignation: Kurt De Vreese (director) · Appointment: Icsonviva BV (director) · Permanent representative: Kurt De Vreese
- · Gazette deed Incorporation
Companies linked to T-HL BELGIUM
Comparable companies
These companies have the same main activity as T-HL BELGIUM: travel agency, tour operator and other reservation service and related activities (NACE 79120). They are comparable in size and age: total assets between €1.7m and €5.9m, founded between 1990 and 2004.
| Company | Total assets | Gross margin |
|---|---|---|
| T-HL BELGIUM Bruges | €2.7m | €0.6m |
| TOUROPERATOR 7 PLUS Zaventem | €2.4m | €0.9m |
| EASYTOURS Wemmel | €2.7m | €1.1m |
| GALLIA Nieuwerkerken (Limb.) | €2.2m | €0.5m |
| A.T.C. ALL TRAVEL CONSULTANTS Antwerp | €5.9m | €0.5m |
| Adventure Specialists Ghent | €2.0m | €0.5m |
| Logeren in Vlaanderen Leuven | €1.7m | €0.6m |
Key facts about T-HL BELGIUM
- What is the company number of T-HL BELGIUM?
- The company number of T-HL BELGIUM is 0439.188.581. The VAT number is the same number with BE in front: BE 0439.188.581.
- Where is T-HL BELGIUM based?
- The registered office is at Sint-Jakobsstraat 52, 8000 Bruges.Company details
- What does T-HL BELGIUM do?
- According to the KBO register, the main activity is travel agency, tour operator and other reservation service and related activities (NACE 79120).
- What is the legal form of T-HL BELGIUM?
- T-HL BELGIUM is a public limited company (NV).
- When was T-HL BELGIUM founded?
- T-HL BELGIUM was founded on 12-12-1989.
- Is T-HL BELGIUM still active?
- Yes, T-HL BELGIUM is an active enterprise in the KBO register.
- How many employees does T-HL BELGIUM have?
- T-HL BELGIUM had an average of 6.3 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does T-HL BELGIUM fall under?
- In its 30-09-2025 annual accounts, T-HL BELGIUM states joint committees 100 (Auxiliary committee for blue-collar workers) and 200 (Auxiliary committee for white-collar workers).
- What is the turnover of T-HL BELGIUM?
- The turnover in financial year 2025 is ≈ €1.4m. This figure is estimated from the gross margin of €598,289 and 2,281 comparable companies of the same size. It probably lies between €850,000 and €2.4m. It is a rough estimate.
- Is T-HL BELGIUM profitable?
- In financial year 2025, T-HL BELGIUM made a profit of €71,172.
- Where can I find the annual accounts of T-HL BELGIUM?
- T-HL BELGIUM filed 36 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of T-HL BELGIUM due?
- T-HL BELGIUM must file the annual accounts for financial year 2026 by 30-04-2027.Timeline
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