Transformics has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€651,688) and a net result of -€2.2m. Equity remains stable across the filed financial years (±0% per year). Its solvency ranks better than 10% of 832 sector peers (NACE 73, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Why 54raises riskCapped at 59: negative equityNegative equity -€651,688Loss of €2.2m (financial year 2025)Latest accounts 31 days late; 1 of the last 3 latelowers riskSize: turnover €264.2m, 7,231 FTE, total assets €59.2mShow the evidence
Checked score
Score 2025
Checked score
A figure from 0 to 100: the higher it is, the smaller the chance that the company goes bankrupt within twelve months. The band, from Critical to Excellent, follows from that chance; within the band, how the company does against its sector peers counts too. With a low score, agree a shorter payment term, an advance or security.
54/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 32% of its sector peers (all companies)
How strong the balance sheet and results are: solvency, liquidity and profitability from the latest annual accounts, each out of 100. It does not directly set the Checked score's band; how the company does on these and on growth against its sector peers does count for its place within the band.
Weak
Solvency24-4
equity -1.1% of total assets
Liquidity45+10
short-term debt 101.1% · cash 36.0%
Profitability25-60
return on assets -3.7%
Bankruptcy probability, 12 months
Bankruptcy probability
The chance that the company goes bankrupt within twelve months, estimated from the registers, the annual accounts and the Belgian Official Gazette. 0.2% means about 2 in 1,000 comparable companies. The higher it is, the shorter the payment term to agree.
0.6%Low
0%0.5%1.5%4%10%≥ 25%
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Sector median 0.2% (27 companies, NACE 73, large)
Last 24 months11-2024: 0.1%12-2024: 0.1%● unchanged vs 11-202401-2025: 0.1%● unchanged vs 12-202402-2025: 0.1%● unchanged vs 01-202503-2025: 0.1%● unchanged vs 02-202504-2025: 0.1%● unchanged vs 03-202505-2025: 0.1%● unchanged vs 04-202506-2025: 0.1%● unchanged vs 05-202507-2025: 0.2%▲ +0.1 percentage points vs 06-202508-2025: 0.1%▼ -0.1 percentage points vs 07-202509-2025: 0.1%● unchanged vs 08-202510-2025: 0.1%● unchanged vs 09-202511-2025: 0.1%● unchanged vs 10-202512-2025: 0.1%● unchanged vs 11-202501-2026: 0.1%● unchanged vs 12-202502-2026: 0.1%● unchanged vs 01-202603-2026: 0.1%● unchanged vs 02-202604-2026: 0.1%● unchanged vs 03-2026lowest value05-2026: 0.1%● unchanged vs 04-202606-2026: 0.1%● unchanged vs 05-202607-2026: 0.1%● unchanged vs 06-202608-2026: 0.2%▲ +0.1 percentage points vs 07-202609-2026: 0.6%▲ +0.4 percentage points vs 08-2026highest value10-2026: 0.6%● unchanged vs 09-2026highest value
No credit on open account
Liquidity insufficient (current ratio 0.7, compared with 0.6 in 2024, below 1; short-term debt: 101.1% and cash: 36% of total assets), and equity is negative.
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 (all companies): better than 9% on solvency, 51% on liquidity, 18% on profitability and 49% on growth.
The bankruptcy probability was computed on 20-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: of the companies that move to filing 1 to 90 days late, 1.41% are now bankrupt, dissolved or in another special legal status, below the 1.66% of all filers. It is a change in behaviour, not evidence of elevated risk.
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 3 days after the deadline; the sector median (NACE 73) for financial year 2024 is 6 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 July (4 of the last 5 filed years within 30 days of that day).
2025 annual accounts filed late (31 days)Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00489779.
Turnover
Turnover
What the company sold in the financial year. Rising revenue points to growth; compare with last year and with the sector.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€59.2m2025Equity-€0.7m2025Debt€59.9m2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€17.7m2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin-0.9%2025Return on assets (ROA)-3.7%2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency-1.1%2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.702025
Average staff in full-time equivalents (FTE).
Staff (FTE)7,2312025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 73, Advertising, market research and public relations activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
Net result€2.7m-€4.7m▲ 71.7%€4.3mabove the sector's middle half▼ 7.9%€5.9mabove the sector's middle half▲ 35.9%€5.6mabove the sector's middle half▼ 4.1%€8.9mabove the sector's middle half▲ 58.8%€13.0mabove the sector's middle half▲ 45.4%-€2.2mbelow the sector's middle half
Equity€0.03m-€4.7m▲ 15,950%€1.6mabove the sector's middle half▼ 66.9%€1.6mabove the sector's middle half=€1.6mabove the sector's middle half▲ 0.3%€1.6mabove the sector's middle half=€1.6mabove the sector's middle half=-€0.7mbelow the sector's middle half
Total assets€5.6m-€13.6m▲ 141%€24.9mabove the sector's middle half▲ 83.1%€23.9mabove the sector's middle half▼ 4.1%€31.7mabove the sector's middle half▲ 32.5%€42.4mabove the sector's middle half▲ 33.6%€46.6mabove the sector's middle half▲ 9.9%€59.2mabove the sector's middle half▲ 27.2%
Working capital-€0.08m-€4.3m-€11.1mbelow the sector's middle half-€11.0mbelow the sector's middle half▲ 0.9%-€12.2mbelow the sector's middle half▼ 10.6%-€17.8mbelow the sector's middle half▼ 45.8%-€17.9mbelow the sector's middle half▼ 0.6%-€17.7mbelow the sector's middle half▲ 1.4%
Solvency0.5%-34.6%▲ 34.0pp6.3%below the sector's middle half▼ 28.3pp6.5%below the sector's middle half▲ 0.3pp4.9%below the sector's middle half▼ 1.6pp3.7%below the sector's middle half▼ 1.2pp3.4%below the sector's middle half▼ 0.3pp-1.1%below the sector's middle half▼ 4.5pp
Current ratio0.98-1.48▲ 0.500.52below the sector's middle half▼ 0.960.50below the sector's middle half▼ 0.020.59below the sector's middle half▲ 0.090.56below the sector's middle half▼ 0.030.60below the sector's middle half▲ 0.040.70below the sector's middle half▲ 0.10
Return on assets (ROA)48.3%-34.4%▼ 13.9pp17.3%above the sector's middle half▼ 17.1pp24.5%above the sector's middle half▲ 7.2pp17.7%above the sector's middle half▼ 6.8pp21.1%above the sector's middle half▲ 3.3pp27.9%above the sector's middle half▲ 6.8pp-3.7%below the sector's middle half▼ 31.6pp
Staff (FTE)629.8-1,806.3▲ 187%2,767.8above the sector's middle half▲ 53.2%3,247.9above the sector's middle half▲ 17.3%3,750above the sector's middle half▲ 15.5%4,505.4above the sector's middle half▲ 20.1%5,144above the sector's middle half▲ 14.2%7,231above the sector's middle half▲ 40.6%
abovewithinbelowthe middle half of NACE 73, Advertising, market research and public relations activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €59.2m
28.7%
71.3%
Fixed assets€17.0m ▼ 12.7%
Current assets€42.2m ▲ 55.8%
Equity and liabilities
Equity-€651,688
Debt€59.9m
Equity is negative: debt (€59.9m) exceeds the balance-sheet total (€59.2m).
Key figures and ratios
2025 value · change against 2024
EBITDA
€606,753▼
2024 · €16.1m
Cash flow
€641,784▼
2024 · €14.8m
Interest coverage
1.61▼
2024 · 44.87
Debt ≤ 1 year
€59.9m▲
2024 · €45.0m
Income taxes
€2,923▼
2024 · €3.8m
Staff costs
€236.2m▲
2024 · €145.4m
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observation
Peer companies
What happened to companies that once looked just like this one does now. It describes the group, not this company: the figures are counted, not predicted.
Of the 3,707 companies that looked in July 2024 the way this one looks now, 2.2% went bankrupt within 24 months and 92.6% are still going.
10 to 20 years old
negative equity
a small loss
without size
2.2%went bankrupt
4.6%stopped otherwise
92.6%still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,473 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
The companies in ten equal groups, from lowest to highest expected share.
Group
Expected
Actual
1
0.2%
0.2%
2
0.3%
0.5%
3
0.5%
0.6%
4
0.7%
0.8%
5
0.9%
1.0%
6
1.3%
1.5%
7
1.6%
1.8%
8
1.8%
1.8%
9
3.0%
3.1%
10
5.6%
6.2%
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 3,707 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
Filed annual accountsAs filed with the NBB · 2025 against 2024 · 70 lines
Balance sheetCode20242025
Assets
Total assets20/58€46.6m€59.2m▲
Fixed assets21/28€19.5m€17.0m▼
Intangible fixed assets21€0.5m€5.8m▲
Tangible fixed assets22/27€2.2m€2.8m▲
Furniture and vehicles24€2.0m€2.4m▲
Other tangible fixed assets26€0.2m€0.4m▲
Financial fixed assets28€16.8m€8.4m▼
Affiliated companies280/1€16.8m€8.3m▼
Participating interests280€16.8m€8.3m▼
Other financial fixed assets284/8€0.07m€0.1m▲
Amounts receivable and cash guarantees285/8€0.07m€0.1m▲
Current assets29/58€27.1m€42.2m▲
Stocks and contracts in progress3-€0
Amounts receivable within one year40/41€13.9m€20.7m▲
Trade receivables40€9.0m€12.6m▲
Other amounts receivable41€4.9m€8.2m▲
Cash at bank and in hand54/58€13.1m€21.3m▲
Deferred charges and accrued income490/1€0.08m€0.2m▲
Equity and liabilities
Total equity and liabilities10/49€46.6m€59.2m▲
Equity10/15€1.6m-€0.7m▼
Contributions10/11€0.06m€0.06m=
Capital10€0.06m€0.06m=
Issued capital100€0.06m€0.06m=
Reserves13€1.5m€1.6m▲
Non-distributable reserves130/1€0.006m€0.006m=
Legal reserve130€0.006m€0.006m=
Tax-exempt reserves132€0.03m€0.1m▲
Distributable reserves133€1.5m€1.5m=
Profit (loss) carried forward14--€2.3m
Amounts payable17/49€45.0m€59.9m▲
Amounts payable within one year42/48€45.0m€59.9m▲
Financial debts43€5.1m€12.7m▲
Credit institutions430/8€5.1m€12.7m▲
Trade debts44€6.6m€9.6m▲
Suppliers440/4€6.6m€9.6m▲
Taxes, remuneration and social security45€20.1m€37.1m▲
Taxes450/3€0.2m€0.6m▲
Remuneration and social security454/9€19.9m€36.5m▲
Other amounts payable47/48€13.3m€0.5m▼
Income statementCode20242025
Operating income70/76A€183.6m€268.5m▲
Turnover70€180.7m€264.2m▲
Other operating income74€2.8m€3.1m▲
Non-recurring operating income76A€0.08m€1.2m▲
Operating charges60/66A€169.4m€270.7m▲
Services and other goods61€21.9m€31.1m▲
Remuneration, social security and pensions62€145.4m€236.2m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.9m€2.9m▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0.1m-€0.1m▼
Other operating charges640/8€0.2m€0.4m▲
Non-recurring operating charges66A-€0.3m
Operating profit (loss)9901€14.2m-€2.3m▼
Financial income75/76B€2.9m€0.7m▼
Recurring financial income75€2.9m€0.7m▼
Income from financial fixed assets750€2.8m€0.6m▼
Income from current assets751€0.08m€0.1m▲
Other financial income752/9€8€17▲
Financial charges65/66B€0.4m€0.7m▲
Recurring financial charges65€0.4m€0.7m▲
Debt charges650€0.4m€0.4m▲
Other financial charges652/9€0.02m€0.3m▲
Profit (loss) for the period before taxes9903€16.7m-€2.2m▼
Income taxes67/77€3.8m€0.003m▼
Taxes670/3€3.8m€0.003m▼
Profit (loss) for the period9904€13.0m-€2.2m▼
Transfer to tax-exempt reserves689-€0.1m
Profit (loss) for the period to be appropriated9905€13.0m-€2.3m▼
Appropriation of the result
Profit (loss) to be appropriated9906€13.0m-€2.3m▼
Profit to be distributed694/7€13.0m€0▼
Return on contributions (dividend)694€13.0m€0▼
Social balance sheet
Average headcount (FTE)90875,144.07,231.0▲
The notes to these accounts (74 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Line
2018
2019
2020
2021
2022
2023
2024
2025
Change
Operating income70/76A
-
-
-
€96.6m
€118.2m
€158.7m
€183.6m
€268.5m
▲ 46.2%
Turnover70
-
-
€73.9m
€94.9m
€116.1m
€153.1m
€180.7m
€264.2m
▲ 46.2%
Other operating income74
-
-
-
€1.7m
€2.1m
€5.6m
€2.8m
€3.1m
▲ 9.3%
Non-recurring operating income76A
-
-
-
€0.01m
€0.04m
€0.05m
€0.08m
€1.2m
▲ 1,274%
Operating charges60/66A
-
-
-
€90.8m
€111.2m
€146.4m
€169.4m
€270.7m
▲ 59.8%
Services and other goods61
-
-
-
€12.9m
€15.6m
€20.2m
€21.9m
€31.1m
▲ 42.3%
Remuneration, social security and pensions62
-
-
-
€77.6m
€94.7m
€124.7m
€145.4m
€236.2m
▲ 62.5%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630
€0.05m
€0.1m
€0.2m
€0.2m
€0.5m
€1.2m
€1.9m
€2.9m
▲ 53.9%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4
-
-
-
-€0.06m
€0.4m
€0.06m
€0.1m
-€0.1m
-
Other operating charges640/8
-
-
-
€0.2m
€0.09m
€0.2m
€0.2m
€0.4m
▲ 135%
Non-recurring operating charges66A
-
-
-
-
-
-
-
€0.3m
-
Gross operating margin9900
€19.6m
€50.6m
-
-
-
-
-
-
-
Operating profit (loss)9901
€2.7m
€4.7m
€4.2m
€5.8m
€7.0m
€12.4m
€14.2m
-€2.3m
-
Financial income75/76B
-
-
-
€1.8m
€0.7m
€0.4m
€2.9m
€0.7m
▼ 75.9%
Recurring financial income75
€7
€13
€0.4m
€1.8m
€0.7m
€0.4m
€2.9m
€0.7m
▼ 75.9%
Income from financial fixed assets750
-
-
-
€1.8m
€0.7m
€0.4m
€2.8m
€0.6m
▼ 79.9%
Income from current assets751
-
-
-
€0.003m
€0.06m
€0.05m
€0.08m
€0.1m
▲ 62.5%
Other financial income752/9
-
-
-
€0.005m
€0.02m
-
€8
€17
▲ 125%
Financial charges65/66B
-
-
-
€0.1m
€0.2m
€0.6m
€0.4m
€0.7m
▲ 74.2%
Recurring financial charges65
€0.002m
€0.01m
€0.03m
€0.1m
€0.2m
€0.3m
€0.4m
€0.7m
▲ 74.2%
Debt charges650
-
-
€0.02m
€0.09m
€0.2m
€0.3m
€0.4m
€0.4m
▲ 5.3%
Other financial charges652/9
-
-
-
€0.03m
€0.04m
€0.03m
€0.02m
€0.3m
▲ 1,184%
Non-recurring financial charges66B
-
-
-
€0.007m
-
€0.3m
-
-
-
Profit (loss) for the period before taxes9903
€2.7m
€4.7m
€4.5m
€7.5m
€7.6m
€12.2m
€16.7m
-€2.2m
-
Income taxes67/77
€401
€0.001m
€0.2m
€1.7m
€1.9m
€3.3m
€3.8m
€0.003m
▼ 99.9%
Taxes670/3
-
-
-
€1.7m
€1.9m
€3.3m
€3.8m
€0.003m
▼ 99.9%
Profit (loss) for the period9904
€2.7m
€4.7m
€4.3m
€5.9m
€5.6m
€8.9m
€13.0m
-€2.2m
-
Transfer to tax-exempt reserves689
-
-
-
-
-
-
-
€0.1m
-
Profit (loss) for the period to be appropriated9905
€2.7m
€4.7m
€4.3m
€5.9m
€5.6m
€8.9m
€13.0m
-€2.3m
-
Line
2018
2019
2020
2021
2022
2023
2024
2025
Change
Assets
Total assets20/58
€5.6m
€13.6m
€24.9m
€23.9m
€31.7m
€42.4m
€46.6m
€59.2m
▲ 27.2%
Fixed assets21/28
€0.2m
€0.4m
€12.7m
€12.7m
€13.8m
€19.4m
€19.5m
€17.0m
▼ 12.7%
Intangible fixed assets21
-
-
€0.1m
€0.1m
€0.5m
€1.2m
€0.5m
€5.8m
▲ 1,112%
Tangible fixed assets22/27
€0.1m
€0.3m
€0.4m
€0.4m
€1.0m
€1.3m
€2.2m
€2.8m
▲ 31.1%
Furniture and vehicles24
-
-
-
€0.2m
€0.7m
€1.1m
€2.0m
€2.4m
▲ 21.5%
Other tangible fixed assets26
-
-
-
€0.2m
€0.2m
€0.2m
€0.2m
€0.4m
▲ 142%
Financial fixed assets28
€0.08m
€0.1m
€12.2m
€12.2m
€12.3m
€16.8m
€16.8m
€8.4m
▼ 50.1%
Affiliated companies280/1
-
-
-
€12.1m
€12.2m
€16.8m
€16.8m
€8.3m
▼ 50.7%
Participating interests280
-
-
-
€12.1m
€12.2m
€16.8m
€16.8m
€8.3m
▼ 50.7%
Other financial fixed assets284/8
-
-
-
€0.08m
€0.08m
€0.03m
€0.07m
€0.1m
▲ 88.8%
Amounts receivable and cash guarantees285/8
-
-
-
€0.08m
€0.08m
€0.03m
€0.07m
€0.1m
▲ 88.8%
Current assets29/58
€5.5m
€13.2m
€12.2m
€11.3m
€17.9m
€23.0m
€27.1m
€42.2m
▲ 55.8%
Stocks and contracts in progress3
-
-
-
-
-
-
-
€0
-
Amounts receivable within one year40/41
€1.8m
€7.9m
€5.5m
€7.0m
€9.9m
€12.4m
€13.9m
€20.7m
▲ 48.9%
Trade receivables40
-
-
-
€3.4m
€6.6m
€7.2m
€9.0m
€12.6m
▲ 39.7%
Other amounts receivable41
-
-
-
€3.6m
€3.2m
€5.2m
€4.9m
€8.2m
▲ 65.7%
Cash at bank and in hand54/58
€3.3m
€4.5m
€6.7m
€4.2m
€7.9m
€10.5m
€13.1m
€21.3m
▲ 62.8%
Deferred charges and accrued income490/1
-
-
-
€0.05m
€0.1m
€0.1m
€0.08m
€0.2m
▲ 128%
Equity and liabilities
Total equity and liabilities10/49
€5.6m
€13.6m
€24.9m
€23.9m
€31.7m
€42.4m
€46.6m
€59.2m
▲ 27.2%
Equity10/15
€0.03m
€4.7m
€1.6m
€1.6m
€1.6m
€1.6m
€1.6m
-€0.7m
-
Contributions10/11
€0.02m
€0.02m
-
€0.02m
€0.06m
€0.06m
€0.06m
€0.06m
=
Capital10
-
-
-
-
€0.06m
€0.06m
€0.06m
€0.06m
=
Issued capital100
-
-
-
-
€0.06m
€0.06m
€0.06m
€0.06m
=
Reserves13
€0.01m
€4.7m
€1.5m
€1.5m
€1.5m
€1.5m
€1.5m
€1.6m
▲ 7.3%
Non-distributable reserves130/1
-
-
-
€0.002m
€0.006m
€0.006m
€0.006m
€0.006m
=
Legal reserve130
-
-
-
-
€0.006m
€0.006m
€0.006m
€0.006m
=
Reserves not available under the articles1311
-
-
-
€0.002m
-
-
-
-
-
Tax-exempt reserves132
-
-
-
€0.03m
€0.03m
€0.03m
€0.03m
€0.1m
▲ 431%
Distributable reserves133
-
-
-
€1.5m
€1.5m
€1.5m
€1.5m
€1.5m
=
Profit (loss) carried forward14
-€0.2m
-€0.4m
-
-
-
-
-
-€2.3m
-
Amounts payable17/49
€5.6m
€8.9m
€23.4m
€22.4m
€30.1m
€40.8m
€45.0m
€59.9m
▲ 33.0%
Amounts payable within one year42/48
€5.6m
€8.9m
€23.4m
€22.3m
€30.1m
€40.8m
€45.0m
€59.9m
▲ 33.0%
Financial debts43
-
-
-
€0.4m
€1.9m
€4.6m
€5.1m
€12.7m
▲ 149%
Credit institutions430/8
-
-
-
€0.4m
€1.9m
€4.6m
€5.1m
€12.7m
▲ 149%
Trade debts44
€0.2m
€0.9m
€3.7m
€3.6m
€3.4m
€5.8m
€6.6m
€9.6m
▲ 46.2%
Suppliers440/4
-
-
-
€3.6m
€3.4m
€5.8m
€6.6m
€9.6m
▲ 46.2%
Taxes, remuneration and social security45
-
-
-
€6.6m
€13.9m
€17.4m
€20.1m
€37.1m
▲ 84.8%
Taxes450/3
-
-
-
€0.2m
€0.3m
€0.09m
€0.2m
€0.6m
▲ 262%
Remuneration and social security454/9
-
-
-
€6.4m
€13.5m
€17.3m
€19.9m
€36.5m
▲ 83.4%
Other amounts payable47/48
-
-
-
€11.7m
€10.9m
€12.9m
€13.3m
€0.5m
▼ 96.4%
Accrued charges and deferred income492/3
-
-
-
€0.06m
-
-
-
-
-
Line
2018
2019
2020
2021
2022
2023
2024
2025
Change
Profit (loss) for the period9904
€2.7m
€4.7m
€4.3m
€5.9m
€5.6m
€8.9m
€13.0m
-€2.2m
-
+ Depreciation and write-downs630
€0.05m
€0.1m
€0.2m
€0.2m
€0.5m
€1.2m
€1.9m
€2.9m
▲ 53.9%
Operating cash flow (approximation)
€2.8m
€4.8m
€4.5m
€6.0m
€6.1m
€10.1m
€14.8m
€0.6m
▼ 95.7%
Investment in fixed assets (approximation)
-
-€0.3m
-€12.5m
-€0.1m
-€1.6m
-€6.8m
-€2.0m
-€0.4m
▲ 80.4%
Change in cash
-
€1.2m
€2.2m
-€2.5m
€3.7m
€2.6m
€2.6m
€8.2m
▲ 216%
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
2 entries · €2,550 · €2,550 paid · Departement Werk en Sociale Economie
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
Directors
Who runs the company today and since when, grouped the way the KBO groups its office holders. Many recent board changes are a reason to keep a close eye.
Source: Belgian Official Gazette (bankruptcies, judicial dissolutions, board mandates), FPS Economy (strike-offs) and the KBO register. A bankruptcy, dissolution or strike-off says nothing about the director's part in it. Only boards we have read from the Gazette; other companies may still be missing.
Owners and capital
Owners
Owners
Who owns the company, as the companies file it in their annual accounts, with the chain of control up to the highest known parent.
According to the 2025 annual accounts of Transformics and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it.
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 include these statements in its annual accounts, or does not have to, is not listed.
According to the 2025 annual accounts of Transformics and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it.
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 include these statements in its annual accounts, or does not have to, is not listed.
Connections & network
Connections & network
Which other companies are linked to this one through directors or shares. Look especially for linked companies in trouble.
17 connected companies
Depth
Shared directorsBundled connections
This companyCompanyDirectorShareholding+N: links not shown yetClick a node to look further, drag to arrange, zoom with the mouse wheel.
The company's story in a few sentences, from the company register, the Belgian Official Gazette and the filed annual accounts. Each number opens the document the sentence rests on.
On 30 December 2015, Transformics was incorporated.1Turnover went from €73.9m in 2020 to €264.2m in 2025 and headcount from 630 full-time equivalents in 2018 to 7,231 in 2025.2
Permanent representative, Gert Maris (vaste vertegenwoordiger voor de uitoefening van het mandaat)
Permanent representative, Jo Mellemans
2024
31-12
FinancialHighest result from 2018 to 2025net €13.0m ▲45.4%
Operating result €14.2m, net result €13.0m, both a record.
25-11
Gazette deedRestructuring
Merger · Accounting effect · Real estate14 facts ▸
Merger, “met fusie door overneming gelijkgestelde verrichting, artikel 12:7 juncto 12:50 van het Wetboek van vennootschappen en verenigingen” (deed in Dutch) (2 times)
Accounting effect, 01-01-2025 (3 times)
Other provision, “tussentijdse cijfers, geen tussentijdse cijfers opmaken” (deed in Dutch)
Other provision, “rechten voor enige aandeelhouder met bijzondere rechten en houders van andere effecten dan aandelen, geen rechten toegekend of maatregelen voorgesteld” (deed in Dutch)
Other provision, “bijzonder voordeel aan leden van bestuursorganen van te fuseren vennootschappen” (deed in Dutch) (2 times)
Real estate, “geruisloze fusie” (deed in Dutch) (2 times)
Other provision, “personeelsoverdracht, CAO 32bis” (deed in Dutch) (2 times)
Merger, 07-11-2024
Other provision, “geen tussentijdse cijfers opmaken, alle aandeelhouders en houders van andere effecten waaraan stemrecht is verbonden van de Vennootschappen stemmen hiermee in” (deed in Dutch)
Other provision, “rechten voor enige aandeelhouder met bijzondere rechten en houders van andere effecten dan aandelen” (deed in Dutch) (2 times)
Other provision, “personeel, met behoud van alle rechten” (deed in Dutch)
Other provision, “tussentijdse cijfers, instemming alle aandeelhouders en houders van andere effecten waaraan stemrecht is verbonden van de Vennootschappen” (deed in Dutch)
Gazette deedResignations: M-MANAGEMENT (director) and MAD (director)
Appointments: M-MANAGEMENT, MAD and 2 others · Permanent representatives: MELLEMANS Jo, HUYSMANS Elly and 2 others · Amendment of the articles17 facts ▸
General meeting, “eenparigheid van stemmen, buitengewone algemene vergadering van de aandeelhouders” (deed in Dutch)
Other provision, “elk bestaand aandeel duizend nieuwe aandelen, aandelensplitsing” (deed in Dutch)
Amendment of the articles (2 times)
Capital, €61,500
Director resignation, M-MANAGEMENT (director)
Director discharge, M-MANAGEMENT (director)
Director resignation, MAD (director)
Director discharge, MAD (director)
Director appointment, M-MANAGEMENT (director)
Director appointment, MAD (director)
Director appointment, TEJEST Invest (director)
Director appointment, 2XU GROUP (director)
+5 further facts in this act
2023
28-07
NBB filingAnnual accounts filed
financial year 2022 · full format
Show earlier events
2022
26-07
NBB filingAnnual accounts filed
financial year 2021 · full format
2021
29-07
NBB filingAnnual accounts filed
financial year 2020 · full format
2020
30-07
NBB filingAnnual accounts filed
financial year 2019 · abbreviated format
2019
31-12
FinancialEquity above €2mequity €4.7m ▲15,950%
A profit in every financial year since 2018 builds equity to €4.7m.
30-07
NBB filingAnnual accounts filed
financial year 2018 · abbreviated format
2018
31-07
NBB filingAnnual accounts filed
financial year 2017 · abbreviated format
2017
27-07
NBB filingAnnual accounts filed
financial year 2016 · abbreviated format
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
6 of 14 deeds read
About the unread acts
Of the 14 Belgian Official Gazette deeds we know for this company, 6 have been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation
If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number
0644.969.925
ProtectedTownscape or village viewStadskern OudenaardeSource ↗
Flanders
1,069 m²
1 · 406 m²
13.6 m · 3
44502C1076/00A000
Flanders
1,068 m²
1 · 269 m²
7.1 m
11050A0523/00K000
Flanders
1,029 m²
1 · 462 m²
12.4 m · 1
11024B0321/00F005
Flanders
1,008 m²
1 · 229 m²
14.7 m · 4
44412C0273/00V000
Flanders
991 m²
1 · 484 m²
13.2 m · 1
11453I0171/00E011
Flanders
972 m²
1 · 94 m²
9.1 m · 3
13302G0438/00A000
Flanders
919 m²
1 · 62 m²
10.2 m · 3
46502D0613/00F003
Flanders
826 m²
1 · 163 m²
12.8 m · 3
71065F0204/00B002
Flanders
823 m²
1 · 161 m²
7.3 m · 2
41081A0077/00L000
ProtectedTownscape or village viewStadskern ZottegemSource ↗
Flanders
820 m²
1 · 417 m²
19.4 m · 3
24122A0209/00M002
Flanders
810 m²
1 · 793 m²
14.0 m · 2
36503C1550/00L000
Flanders
808 m²
1 · 365 m²
23.1 m · 6
23602H0557/02W003
Flanders
806 m²
1 · 263 m²
14.7 m · 4
13434F1061/00X000
Flanders
801 m²
1 · 372 m²
15.1 m · 3
73048B0153/00N000
Flanders
769 m²
1 · 276 m²
11.0 m · 3
11810K1516/00A013
Flanders
761 m²
1 · 737 m²
26.1 m · 8
23027G0665/00Z000
ProtectedTownscape or village viewStadskern HalleSource ↗
Flanders
748 m²
1 · 134 m²
15.7 m · 4
12403E0227/00B006
Flanders
745 m²
1 · 337 m²
-
12021G0172/00S002
Flanders
690 m²
1 · 213 m²
16.8 m · 5
31033K0544/00A000
Flanders
655 m²
1 · 524 m²
11.9 m · 2
13049B0319/00V000
Flanders
637 m²
1 · 316 m²
10.8 m · 1
46443E1763/00K002
Flanders
625 m²
1 · 632 m²
15.3 m · 1
46302D0197/00G000
Flanders
618 m²
1 · 159 m²
18.6 m · 5
24593H0766/00A000
Flanders
612 m²
1 · 565 m²
16.1 m · 3
72020C0257/00E002
Flanders
570 m²
1 · 203 m²
11.8 m · 3
32003B0359/00N000
Flanders
513 m²
1 · 527 m²
16.3 m · 2
42402F0071/00D000
Flanders
503 m²
1 · 288 m²
11.7 m · 3
31425C0340/00B002
Flanders
473 m²
1 · 86 m²
11.8 m · 3
13017G0569/00G000indicative
Flanders
469 m²
1 · 250 m²
12.2 m · 3
12014A0791/00H000
Flanders
460 m²
1 · 94 m²
10.5 m · 3
44034C0320/00R000
Flanders
443 m²
1 · 156 m²
16.6 m · 4
13004B0182/00C002
Flanders
422 m²
1 · 198 m²
10.7 m · 2
23045E0010/00B002
Flanders
418 m²
1 · 378 m²
-
71382C0556/00V000
Flanders
409 m²
1 · 363 m²
11.3 m · 1
24020A1749/00D000
Flanders
391 m²
1 · 354 m²
19.2 m · 4
13021B1305/00P000
Flanders
384 m²
1 · 30 m²
-
42302E0723/00F000
Flanders
379 m²
1 · 361 m²
15.7 m · 4
22004C0706/00W003
Flanders
344 m²
1 · 124 m²
13.1 m · 4
35013A1651/00M015
Flanders
338 m²
1 · 338 m²
-
71016I0864/00T000
Flanders
337 m²
1 · 315 m²
18.0 m · 5
13024B0190/00V002
Flanders
333 m²
1 · 236 m²
10.8 m · 1
73347A0366/00Y002
Flanders
321 m²
1 · 297 m²
15.2 m · 4
34041C0615/00D000
Flanders
306 m²
1 · 119 m²
11.8 m · 4
42006D0238/00B002
Flanders
287 m²
1 · 78 m²
18.3 m · 4
24062A0748/00E000
ProtectedTownscape or village viewTechnische SchoolSource ↗
Flanders
247 m²
1 · 247 m²
20.5 m · 5
41002A1292/00G000
ProtectedMonumentStadswoning en arbeidershuizenSource ↗
Flanders
246 m²
1 · 126 m²
11.2 m · 3
23546L0095/00B002
Flanders
238 m²
1 · 210 m²
14.4 m · 1
46014A0668/00A010
ProtectedTownscape or village viewStadskern LokerenSource ↗
Flanders
189 m²
1 · 163 m²
16.7 m · 2
43352E0839/02R000
Flanders
182 m²
1 · 128 m²
19.8 m · 6
73006M0171/00S000
ProtectedMonument · Townscape or village viewDekenij met oranjerie en tuinmuurSource ↗
Flanders
180 m²
1 · 180 m²
12.1 m · 2
13453S0033/00G003
Flanders
171 m²
1 · 171 m²
13.1 m · 3
13008H0398/00L000
Flanders
171 m²
1 · 130 m²
4.7 m
23322L0269/00P000
Flanders
166 m²
1 · 146 m²
11.7 m · 2
71443F0014/00P002
Flanders
165 m²
1 · 129 m²
11.1 m · 2
71057A0924/00G000
Flanders
165 m²
1 · 157 m²
14.9 m · 3
23026A0097/00D002
Flanders
149 m²
1 · 91 m²
11.1 m · 3
33021F0641/00C000
Flanders
147 m²
1 · 137 m²
12.7 m · 3
34022G0450/00D000
Flanders
140 m²
1 · 140 m²
19.9 m · 5
41362B1105/00H000
Flanders
133 m²
1 · 107 m²
12.6 m · 4
38025A0122/00A000
Flanders
122 m²
1 · 122 m²
10.2 m · 2
11462A0206/00X004
Flanders
102 m²
1 · 102 m²
11.3 m · 3
How the parcels are linked
Good to know
75 of 76 parcels with an exact address match; the rest are indicative.
7 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Articles of association
What the company does
PurposeThe activities the company may carry out under its articles.
“Het verstekken van alle advies,management en raadgevingen in commerciële,administratieve,technische,industriële en financiële…” (deed in Dutch)
16 activities (deed in Dutch)
Het verstekken van alle advies,management en raadgevingen in commerciële,administratieve,technische,industriële en financiële aangelegenheden,evenals het verstrekken van interim-management aan bedrijven;
Het auditeren van bedrijven op het vlak van management met daarbij horend het opstellen van bedrijfsplannen;
Onderneming in onroerende goederen,welke onder meer omvat: de verwerving,de vervreemding,het beheer,de borgstelling,de uitbating,de valorisatie,de verkaveling,de ordening,de huur en verhuur,het doen bouwen en verbouwen,evenals alle welk danige onroerende handelingen in de meest brede zin,met inbegrip van onroerende leasing;
De participatie onder welke vorm het ook zij,in de oprichting,de ontwikkeling en de controle van alle ondernemingen,Belgische of buitenlandse,commerciële,financiële,industriële of andere;
Het opnemen van bestuursmandaten in en het optreden als adviseur bij alle mogelijke ondernemingen en vennootschappen;
Tussenpersoon in de handel,als makelaar in goederen,als zelfstandig handelsvertegenwoordiger of als commissionair;
De verhuring van installaties,uitrusting en materieel;
Het ontwikkelen,kopen,verkopen,in licentie nemen of geven van octrooien,knowhow en aanverwante immateriële duurzame activa;
Het aankopen en verkopen van informaticamaterieel,zowel hardware,software als kennis,en alle hiermee verband houdende activiteiten;
Het importeren en exporteren van alle informaticamaterieel en verband houdende diensten;
Het auditeren van bedrijven of diensten op het vlak van marketing,management en communicatie,met het daarbij horend opstellen van uitvoeringsplannen en de implementatie daarvan;
De aan- en verkoop van informaticamaterieel,zowel hardware als software en alle materialen die betrekking hebben op audiovisuele en andere gerelateerde materialen;
Het verstrekken van adviezen en het organiseren van seminaries en allerhande opleidingen;
Het uitvoeren van tuinaanleg en tuinonderhoud;
Het verstrekken van kinderopvang;
Alle activiteiten die verband houden met en nodig zijn om als dienstencheque-onderneming te kunnen fungeren,met inbegrip van tijdelijke tewerkstelling en interim-arbeid,interimkantoor.