TRASA
ActiveSummary
The annual accounts of TRASA for fiscal year 2025 show a net loss of 78% of the equity at the start of that year. The 2025 annual accounts show equity of €750 and a net result of €-3k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 13% of 31791 sector peers (fiscal year 2025). The company has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-93
Solvency30▼-12
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.84 against 0.96 in 2024; short-term debt: 95.3% and cash: 42.2% of total assets), and 95.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
4.7%
Return on assets
-16.3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 31791 sector peers (2025).
NBB · sector comparisonPosition among 31791 sector peers
Solvency
better than 13%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 13-07-2026, 18 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
18 d early
2024
41 d early
2023
8 d early
2022
6 d early
2021
16 d early
2020
38 d early
2019
8 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€750▼ 77.7%
2024 · €3k
2018: €-11klowest in 8 years
2019: €7k▲ +164% vs 2018highest in 8 years
2020: €-26▼ -100% vs 2019
2021: €-4k▼ -16515% vs 2020
2022: €4k▲ +180% vs 2021
2023: €-438▼ -112% vs 2022
2024: €3k▲ +868% vs 2023
2025: €750▼ -77.7% vs 2024
2018 → 2025
Total assets
€16k▼ 18.7%
2024 · €20k
2018: €2klowest in 8 years
2019: €15k▲ +693% vs 2018
2020: €13k▼ -8.0% vs 2019
2021: €9k▼ -35.4% vs 2020
2022: €24k▲ +182% vs 2021
2023: €26k▲ +5.4% vs 2022highest in 8 years
2024: €20k▼ -23.9% vs 2023
2025: €16k▼ -18.7% vs 2024
2018 → 2025
Net result
€-3k
2024 · €4k
2018: €-889
2019: €18k▲ +2141% vs 2018highest in 8 years
2020: €-7k▼ -139% vs 2019lowest in 8 years
2021: €-4k▲ +38.4% vs 2020
2022: €8k▲ +281% vs 2021
2023: €-4k▼ -150% vs 2022
2024: €4k▲ +196% vs 2023
2025: €-3k▼ -169% vs 2024
2018 → 2025
Working capital
€-2k▼ 294%
2024 · €-634
2018: €-11klowest in 8 years
2019: €5k▲ +142% vs 2018highest in 8 years
2020: €-2k▼ -133% vs 2019
2021: €-5k▼ -225% vs 2020
2022: €190▲ +104% vs 2021
2023: €-5k▼ -2832% vs 2022
2024: €-634▲ +87.8% vs 2023
2025: €-2k▼ -294% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-4k-€4k€-438€3k€750▼ 77.7%
2021: €-4klowest in 5 years
2022: €4k▲ +180% vs 2021highest in 5 years
2023: €-438▼ -112% vs 2022
2024: €3k▲ +868% vs 2023
2025: €750▼ -77.7% vs 2024
Operating result€-4k-€8k€-4k€4k€-3k
2021: €-4klowest in 5 years
2022: €8k▲ +285% vs 2021highest in 5 years
2023: €-4k▼ -149% vs 2022
2024: €4k▲ +199% vs 2023
2025: €-3k▼ -166% vs 2024
Net result€-4k-€8k€-4k€4k€-3k
2021: €-4klowest in 5 years
2022: €8k▲ +281% vs 2021highest in 5 years
2023: €-4k▼ -150% vs 2022
2024: €4k▲ +196% vs 2023
2025: €-3k▼ -169% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €3k after €4k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €16k
Fixed assets
€3k ▼ 18.7%
Current assets
€13k ▼ 18.7%
Equity and liabilities €16k
Equity
€750 ▼ 77.7%
Debt
€15k ▼ 6.5%
Debt's share of the balance-sheet total rises from 82.9% to 95.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-2k▼
2024 · €5k
Cash flow
€-2k▼
2024 · €5k
Current ratio
0.84▼
2024 · 0.96
ROA
-16.3%▼
2024 · 19.3%
Interest coverage
-29.51▼
2024 · 85.17
Debt ≤ 1 year
€15k▼
2024 · €16k
Staff costs
€51k▲
2024 · €50k
Equity ratios withheld: equity of €750 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 37 lines
Balance sheet
Code20242025
Assets
Total assets20/58€20k€16k▼
Fixed assets21/28€4k€3k▼
Tangible fixed assets22/27€4k€3k▼
Furniture and vehicles24€4k€3k▼
Current assets29/58€16k€13k▼
Amounts receivable within one year40/41€12k€6k▼
Trade receivables40€12k€6k▼
Cash at bank and in hand54/58€4k€7k▲
Equity and liabilities
Total equity and liabilities10/49€20k€16k▼
Equity10/15€3k€750▼
Contributions10/11€6k€6k=
Reserves13€700€700=
Non-distributable reserves130/1€700€700=
Reserves not available under the articles1311€700€700=
Profit (loss) carried forward14€-4k€-6k▼
Amounts payable17/49€16k€15k▼
Amounts payable within one year42/48€16k€15k▼
Trade debts44€2k€795▼
Suppliers440/4€2k€795▼
Taxes, remuneration and social security45€13k€13k▼
Taxes450/3€4k€4k▼
Remuneration and social security454/9€9k€10k▲
Other amounts payable47/48€877€1k▲
Income statement
Code20242025
Remuneration, social security and pensions62€50k€51k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€748€748=
Other operating charges640/8€220€440▲
Gross operating margin9900€55k€50k▼
Operating profit (loss)9901€4k€-3k▼
Financial income75/76B-€4
Recurring financial income75-€4
Financial charges65/66B€54€61▲
Recurring financial charges65€54€61▲
Profit (loss) for the period before taxes9903€4k€-3k▼
Profit (loss) for the period9904€4k€-3k▼
Profit (loss) for the period to be appropriated9905€4k€-3k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-4k€-6k▼
Profit (loss) brought forward from the previous period14P€-7k€-4k▲
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €23k | €34k | €51k | €50k | €51k | ▲ 3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €874 | €244 | €732 | €748 | €748 | = |
| Other operating charges640/8 | €440 | - | €220 | €220 | €440 | ▲ 100% |
| Gross operating margin9900 | €20k | €42k | €48k | €55k | €50k | ▼ 8.6% |
| Operating profit (loss)9901 | €-4k | €8k | €-4k | €4k | €-3k | ▼ 166% |
| Financial income75/76B | - | - | - | - | €4 | - |
| Recurring financial income75 | - | - | - | - | €4 | - |
| Financial charges65/66B | €48 | €58 | €54 | €54 | €61 | ▲ 13.3% |
| Recurring financial charges65 | €48 | €58 | €54 | €54 | €61 | ▲ 13.3% |
| Profit (loss) for the period before taxes9903 | €-4k | €8k | €-4k | €4k | €-3k | ▼ 169% |
| Profit (loss) for the period9904 | €-4k | €8k | €-4k | €4k | €-3k | ▼ 169% |
| Profit (loss) for the period to be appropriated9905 | €-4k | €8k | €-4k | €4k | €-3k | ▼ 169% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €9k | €24k | €26k | €20k | €16k | ▼ 18.7% |
| Fixed assets21/28 | €651 | €3k | €5k | €4k | €3k | ▼ 18.7% |
| Tangible fixed assets22/27 | €391 | €3k | €5k | €4k | €3k | ▼ 18.7% |
| Furniture and vehicles24 | €391 | €3k | €5k | €4k | €3k | ▼ 18.7% |
| Financial fixed assets28 | €260 | - | - | - | - | - |
| Current assets29/58 | €8k | €21k | €21k | €16k | €13k | ▼ 18.7% |
| Amounts receivable within one year40/41 | €5k | €14k | €12k | €12k | €6k | ▼ 49.6% |
| Trade receivables40 | €5k | €14k | €12k | €12k | €6k | ▼ 49.6% |
| Cash at bank and in hand54/58 | €2k | €7k | €8k | €4k | €7k | ▲ 77.9% |
| Deferred charges and accrued income490/1 | €238 | €263 | €862 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €9k | €24k | €26k | €20k | €16k | ▼ 18.7% |
| Equity10/15 | €-4k | €4k | €-438 | €3k | €750 | ▼ 77.7% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €700 | €700 | €700 | €700 | €700 | = |
| Non-distributable reserves130/1 | €700 | €700 | €700 | €700 | €700 | = |
| Reserves not available under the articles1311 | €700 | €700 | €700 | €700 | €700 | = |
| Profit (loss) carried forward14 | €-11k | €-3k | €-7k | €-4k | €-6k | ▼ 73.7% |
| Amounts payable17/49 | €13k | €21k | €26k | €16k | €15k | ▼ 6.5% |
| Amounts payable within one year42/48 | €13k | €21k | €26k | €16k | €15k | ▼ 6.5% |
| Trade debts44 | €68 | €1k | €1k | €2k | €795 | ▼ 62.1% |
| Suppliers440/4 | €68 | €1k | €1k | €2k | €795 | ▼ 62.1% |
| Taxes, remuneration and social security45 | €5k | €12k | €19k | €13k | €13k | ▼ 0.8% |
| Taxes450/3 | €1k | €32 | €8k | €4k | €4k | ▼ 8.5% |
| Remuneration and social security454/9 | €4k | €12k | €11k | €9k | €10k | ▲ 2.3% |
| Other amounts payable47/48 | €8k | €8k | €6k | €877 | €1k | ▲ 39.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-4k | €8k | €-4k | €4k | €-3k | ▼ 169% |
| + Depreciation and write-downs630 | €874 | €244 | €732 | €748 | €748 | = |
| Operating cash flow (approximation) | €-3k | €8k | €-3k | €5k | €-2k | ▼ 141% |
| Investment in fixed assets (approximation) | - | €-3k | €-2k | €0 | €0 | - |
| Change in cash | - | €5k | €814 | €-4k | €3k | ▲ 169% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
13-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €8k
Net result €8k after 2 loss-making years.
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
23-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €-7k
Net result drops to €-7k, the lowest in the series; recovery starts the following year.
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €18k
Net result €18k after one loss-making year.
31-12
Financial
Liquidity times 11current ratio 1.62
Current ratio from 0.14 to 1.62; short-term debt falls from €13k to €8k.
Show earlier events
15-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
14-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Liège · 1 establishment unit since 2001
Ground area
280 m²
Building footprint
77 m²
Volume, LiDAR
599 m³
Parcel 62804D0389/00H002, Wallonia · tallest building 10.2 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Trasa
since 20012.098.599.156
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62804D0389/00H002 | Wallonia | 280 m² | 1 · 77 m² | 10.2 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 3,984 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded31-07-2001
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
74120Graphic design and visual communication
Scores and ratios are computed by Checked and are not a credit decision.