Equity
TRANZCOM ICT paid out €100,000 in dividends. That is 116% of the 2025 profit.
TRANZCOM ICT paid out €100,000 in dividends. That is 116% of the 2025 profit.
The result fell in 2025: branch of activity transferred to CEGELEC INFRA TECHNICS.
In 2025, 15 people joined and 60 left. On top of that, 7.1 agency workers worked there on average.
TRANZCOM ICT pays its suppliers 29 days earlier than in 2024. Customers pay 37 days earlier.
Short-term debts fell from €16.0m to €5.0m.
Branch transferred to CEGELEC INFRA TECHNICS. Contribution on 01-07-2025.
The dashed line is the sector median: 0.2% across 106 companies (NACE 42, medium-sized).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 42, medium-sized). It does better than 76% of them on solvency, 75% on liquidity, 26% on profitability and 6% on growth.
The bankruptcy probability was computed on 09-11-2026 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 31-12-2025.
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).
In July 2024, 1,887 companies had the same profile as TRANZCOM ICT has now. Each dot stands for 5 companies, two years later.
That fits the bankruptcy probability of TRANZCOM ICT itself: 0.2% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,887 companies, not a prediction for TRANZCOM ICT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is ample, with a current ratio of 2.29 (1.5 in 2024), above the usual 1.5. Short-term debt is 38.8% and cash 16% of total assets. 42.9% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 22 days before the deadline. In the sector (NACE 42), the median for financial year 2024 was 2 days before the deadline, and 41% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| TRANZCOM ICT Asse | €14.8m | 3.2% | 57.1% | 87.5 |
| ROGER GEHLEN Waimes | €19.4m | -3.8% | 20.9% | 110.3 |
| CONA Lokeren | €14.5m | 7.8% | 71.3% | 59.9 |
| T.R.T.C. - BONFOND Fils Ferrières | €24.2m | 1.4% | 23.5% | 92.1 |
| IGM Lokeren | €29.8m | 8.3% | 38.8% | 99.5 |
| ELEC. D.V.C. Ixelles | €12.8m | -2.3% | 17.6% | 53.5 |
| GDD INFRA Temse | €14.7m | 26.2% | 59.1% | 54.9 |
Grey: the largest companies of the sector (civil engineering (NACE 42)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as TRANZCOM ICT: construction of utility projects for electricity and telecommunications (NACE 42220). They are comparable in size and age: total assets between €8m and €17m, founded between 1982 and 2003.
TRANZCOM ICT has existed since 1996. Turnover fell from €33.6m in 2024 to €14.8m in 2025. On 1 July 2025 a branch of activity moved to CEGELEC INFRA TECHNICS.
Solvency rose in 2025 from 31.8% to 57.1% because of lower debts.
VINCI ENERGIES BELGIUM holds all the shares. In January 2025, four directors stepped down. In January 2025, the Official Gazette published the appointment of Dirk DEVOGHEL as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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