Financials
- Fiscal year
- 2025
- Total assets
- €72,254
- Loss
- -€14,843
- Solvency
- 88.9%
Total assets▼ 9.9%
Net result
20182025
TRANSFORMATION SA
ActiveSummary
TRANSFORMATION SA has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €64,240 and a net result of -€14,843. Equity is shrinking by ~4.2% per year across the filed fiscal years. Its solvency ranks better than 90% of 9986 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
Activity
Real estate agency activities
NACE 68310NACE 68311NACE 70311
1 site
Size
€72,254total assets 2025
- Equity
- €64,240
- Loss
- -€14,843
Structure
Accounts filed 25 d late0 of 2 deeds read
Why 84- Loss of €14,843, the second in a row (FY 2025)- Liquidity: current ratio 0.35, cash €325, halved+ Size: total assets €72,254+ Founded in 1992Show the evidence
Checked score
Score 2025
84
/ 100
Excellent
Probability in this band: under 0.55%
Better than 41% of its sector peers (NACE 68, micro)
Performance against the sector, not lower risk
Financial strength · tick = 2024
Average
Solvency
100=
equity 88.9% of total assets
Liquidity
50-2
short-term debt 11.1% · cash 0.4%
Profitability
0-63
return on assets -20.5%
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 13 months
10-2025: 0.2%
11-2025: 0.2%● 0.0% vs 10-2025
12-2025: 0.2%● 0.0% vs 11-2025
01-2026: 0.2%▼ -6.7% vs 12-2025lowest value
02-2026: 0.2%● 0.0% vs 01-2026lowest value
03-2026: 0.2%● 0.0% vs 02-2026lowest value
04-2026: 0.2%▲ +0.7% vs 03-2026
05-2026: 0.2%▲ +1.9% vs 04-2026
06-2026: 0.2%▼ -0.6% vs 05-2026
07-2026: 0.2%▲ +8.3% vs 06-2026
08-2026: 0.3%▲ +87.0% vs 07-2026
09-2026: 0.3%▲ +1.3% vs 08-2026highest value
10-2026: 0.3%● 0.0% vs 09-2026highest value
- Loss of €14,843, the second in a row (FY 2025) raises the probability
- Size: total assets €72,254 lowers the probability for this profile
- Founded in 1992 lowers the probability for this profile
- Liquidity: current ratio 0.35, cash €325, halved raises the probability
Credit up to €5,000 at 30 days acceptable
Liquidity short (current ratio 0.35 against 3.75 in 2024; short-term debt: 11.1% and cash: 0.4% of total assets), and 11.1% of the assets are financed with debt.
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 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% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 68, micro). Better than this share of them on solvency 91%, liquidity 47%, profitability 4%, growth against the median 22%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 02-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€14,843
neutral · A punctual record breaks
This company filed 4 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
25 d late
2024
31 d early
2023
41 d early
2022
32 d early
2021
9 d early
2020
7 d late
2019
28 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 8 days before the deadline; 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. Usually files around 30 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
02-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · abbreviated…
- Annual accounts filedfiscal year 2024 · micro…
- Liquidity doublescurrent ratio 3.75
Key points
By topic
Timeline
- Events
- 15
- Since
- 2017
- Next accounts
- by 31-07-2027
- 25-08-2026Annual accounts filed
- 30-06-2025Annual accounts filed
- 31-12-2024Liquidity doubles
Company details
- Sites
- 1
- Legal form
- Public limited company
- Activity
- Real estate agency activitiesNACE 68310
- Founded
- 22-09-1992
- Year ends
- 31-12
- Peppol
- Not found in the Peppol directory
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