TRBL MNGT
ActiveSummary
TRBL MNGT has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €619k and a net result of €-115k. Equity is growing by ~44.6% per year across the filed fiscal years. Its solvency ranks better than 39% of 634 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability12▼-74
Solvency55▼-45
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity tight (current ratio 1.42 against 4.21 in 2024; short-term debt: 69.9% and cash: 69.4% of total assets), and 69.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% 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
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 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
9 d early
2023
6 d early
2022
11 d early
2021
23 d early
2020
8 d early
2019
6 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, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-115k
2024 · €307k
2018: €-35k
2019: €231k▲ +766% vs 2018
2020: €149k▼ -35.6% vs 2019
2021: €206k▲ +38.3% vs 2020
2022: €421k▲ +104% vs 2021
2023: €477k▲ +13.2% vs 2022highest in 8 years
2024: €307k▼ -35.7% vs 2023
2025: €-115k▼ -138% vs 2024lowest in 8 years
2018 → 2025
Working capital
€609k▼ 63.3%
2024 · €1.66M
2018: €86klowest in 8 years
2019: €276k▲ +219% vs 2018
2020: €428k▲ +55.3% vs 2019
2021: €453k▲ +5.8% vs 2020
2022: €875k▲ +93.0% vs 2021
2023: €1.35M▲ +54.2% vs 2022
2024: €1.66M▲ +22.9% vs 2023highest in 8 years
2025: €609k▼ -63.3% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€455k-€876k▲ 92.5%€1.35M▲ 54.4%€1.66M▲ 22.7%€619k▼ 62.7%
2021: €455klowest in 5 years
2022: €876k▲ +92.5% vs 2021
2023: €1.35M▲ +54.4% vs 2022
2024: €1.66M▲ +22.7% vs 2023highest in 5 years
2025: €619k▼ -62.7% vs 2024
Operating result€276k-€556k▲ 101%€660k▲ 18.8%€389k▼ 41.0%€-87k
2021: €276k
2022: €556k▲ +101% vs 2021
2023: €660k▲ +18.8% vs 2022highest in 5 years
2024: €389k▼ -41.0% vs 2023
2025: €-87k▼ -122% vs 2024lowest in 5 years
Net result€206k-€421k▲ 104%€477k▲ 13.2%€307k▼ 35.7%€-115k
2021: €206k
2022: €421k▲ +104% vs 2021
2023: €477k▲ +13.2% vs 2022highest in 5 years
2024: €307k▼ -35.7% vs 2023
2025: €-115k▼ -138% vs 2024lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €87k after €389k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.06M
Fixed assets
€11k ▲ 477%
Current assets
€2.05M ▼ 5.9%
Equity and liabilities €2.06M
Equity
€619k ▼ 62.7%
Debt
€1.44M ▲ 178%
Debt's share of the balance-sheet total rises from 23.8% to 69.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-84k▼
2024 · €391k
Cash flow
€-112k▼
2024 · €308k
Current ratio
1.42▼
2024 · 4.21
Debt to equity
2.33▲
2024 · 0.31
ROE
-18.7%▼
2024 · 18.5%
ROA
-5.6%▼
2024 · 14.1%
Interest coverage
-0.61▼
2024 · 15.02
Debt ≤ 1 year
€1.44M▲
2024 · €517k
Income taxes
€5k▼
2024 · €108k
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 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.18M€2.06M▼
Fixed assets21/28€2k€11k▲
Tangible fixed assets22/27€2k€11k▲
Furniture and vehicles24€2k€11k▲
Current assets29/58€2.18M€2.05M▼
Amounts receivable after more than one year29-€154k
Other amounts receivable291-€154k
Amounts receivable within one year40/41€594k€465k▼
Trade receivables40€570k€371k▼
Other amounts receivable41€24k€95k▲
Cash at bank and in hand54/58€1.58M€1.43M▼
Deferred charges and accrued income490/1€89€90▲
Equity and liabilities
Total equity and liabilities10/49€2.18M€2.06M▼
Equity10/15€1.66M€619k▼
Contributions10/11€19k€19k=
Reserves13€1.64M€600k▼
Distributable reserves133€1.64M€600k▼
Profit (loss) carried forward14-€0
Amounts payable17/49€518k€1.44M▲
Amounts payable within one year42/48€517k€1.44M▲
Trade debts44€451k€454k▲
Suppliers440/4€451k€454k▲
Taxes, remuneration and social security45€60k€59k▼
Taxes450/3€58k€59k▲
Remuneration and social security454/9€2k€300▼
Other amounts payable47/48€6k€925k▲
Accrued charges and deferred income492/3€979€998▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€4k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-6k€15k▲
Other operating charges640/8€1k€4k▲
Gross operating margin9900€386k€-64k▼
Operating profit (loss)9901€389k€-87k▼
Financial income75/76B€51k€115k▲
Recurring financial income75€51k€115k▲
Financial charges65/66B€26k€138k▲
Recurring financial charges65€26k€138k▲
Profit (loss) for the period before taxes9903€415k€-111k▼
Income taxes67/77€108k€5k▼
Profit (loss) for the period9904€307k€-115k▼
Profit (loss) for the period to be appropriated9905€307k€-115k▼
Appropriation of the result
Profit (loss) to be appropriated9906€307k€-115k▼
Transfer from equity791/2-€1.04M
Transfer to equity691/2€307k€0▼
To other reserves6921€307k€0▼
Profit to be distributed694/7-€925k
Return on contributions (dividend)694-€925k
The notes to these accounts (6 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €18k | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €908 | €686 | €854 | €1k | €4k | ▲ 155% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €10k | €-6k | €15k | ▲ 336% |
| Other operating charges640/8 | €943 | €868 | €1k | €1k | €4k | ▲ 315% |
| Gross operating margin9900 | €278k | €557k | €672k | €386k | €-64k | ▼ 117% |
| Operating profit (loss)9901 | €276k | €556k | €660k | €389k | €-87k | ▼ 122% |
| Financial income75/76B | €43k | €48k | €16k | €51k | €115k | ▲ 123% |
| Recurring financial income75 | €43k | €48k | €16k | €51k | €115k | ▲ 123% |
| Financial charges65/66B | €21k | €46k | €43k | €26k | €138k | ▲ 430% |
| Recurring financial charges65 | €21k | €46k | €43k | €26k | €138k | ▲ 430% |
| Profit (loss) for the period before taxes9903 | €298k | €557k | €632k | €415k | €-111k | ▼ 127% |
| Income taxes67/77 | €92k | €136k | €156k | €108k | €5k | ▼ 95.7% |
| Profit (loss) for the period9904 | €206k | €421k | €477k | €307k | €-115k | ▼ 138% |
| Profit (loss) for the period to be appropriated9905 | €206k | €421k | €477k | €307k | €-115k | ▼ 138% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.01M | €1.78M | €2.12M | €2.18M | €2.06M | ▼ 5.5% |
| Fixed assets21/28 | €2k | €1k | €3k | €2k | €11k | ▲ 477% |
| Tangible fixed assets22/27 | €2k | €1k | €3k | €2k | €11k | ▲ 477% |
| Furniture and vehicles24 | €2k | €1k | €3k | €2k | €11k | ▲ 477% |
| Current assets29/58 | €1.01M | €1.78M | €2.11M | €2.18M | €2.05M | ▼ 5.9% |
| Amounts receivable after more than one year29 | - | - | - | - | €154k | - |
| Other amounts receivable291 | - | - | - | - | €154k | - |
| Amounts receivable within one year40/41 | €553k | €1.10M | €937k | €594k | €465k | ▼ 21.7% |
| Trade receivables40 | €527k | €1.08M | €911k | €570k | €371k | ▼ 35.0% |
| Other amounts receivable41 | €27k | €19k | €27k | €24k | €95k | ▲ 302% |
| Cash at bank and in hand54/58 | €458k | €675k | €1.18M | €1.58M | €1.43M | ▼ 9.7% |
| Deferred charges and accrued income490/1 | €82 | €84 | €87 | €89 | €90 | ▲ 1.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.01M | €1.78M | €2.12M | €2.18M | €2.06M | ▼ 5.5% |
| Equity10/15 | €455k | €876k | €1.35M | €1.66M | €619k | ▼ 62.7% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €436k | €857k | €1.33M | €1.64M | €600k | ▼ 63.4% |
| Distributable reserves133 | €436k | €857k | €1.33M | €1.64M | €600k | ▼ 63.4% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | - |
| Amounts payable17/49 | €559k | €902k | €763k | €518k | €1.44M | ▲ 178% |
| Amounts payable within one year42/48 | €559k | €902k | €763k | €517k | €1.44M | ▲ 178% |
| Trade debts44 | €462k | €835k | €720k | €451k | €454k | ▲ 0.8% |
| Suppliers440/4 | €462k | €835k | €720k | €451k | €454k | ▲ 0.8% |
| Taxes, remuneration and social security45 | €82k | €47k | €11k | €60k | €59k | ▼ 2.0% |
| Taxes450/3 | €82k | €41k | €6k | €58k | €59k | ▲ 1.0% |
| Remuneration and social security454/9 | - | €6k | €6k | €2k | €300 | ▼ 85.7% |
| Other amounts payable47/48 | €15k | €20k | €32k | €6k | €925k | ▲ 15,156% |
| Accrued charges and deferred income492/3 | - | - | - | €979 | €998 | ▲ 2.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €206k | €421k | €477k | €307k | €-115k | ▼ 138% |
| + Depreciation and write-downs630 | €908 | €686 | €854 | €1k | €4k | ▲ 155% |
| Operating cash flow (approximation) | €207k | €422k | €477k | €308k | €-112k | ▼ 136% |
| Investment in fixed assets (approximation) | - | €0 | €-3k | €0 | €-13k | - |
| Change in cash | - | €217k | €500k | €407k | €-153k | ▼ 138% |
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
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €-115k
Net result drops to €-115k, the lowest in the series.
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2018net €477k ▲13.2%
Operating result €660k, net result €477k, both a record.
31-12
Financial
Equity above €1MEq €1.35M ▲54.4%
5 profitable years in a row build equity to €1.35M.
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Equity above €500kEq €876k ▲92.5%
4 profitable years in a row build equity to €876k.
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
24-04
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
30-09
Financial
Back to profitnet €231k
Net result €231k after one loss-making year.
Show earlier events
30-09
Financial
Equity above €200kEq €280k ▲209%
Equity rises from €91k to €280k.
21-03
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
20-04
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
28-04
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are 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, Comines-Warneton · 1 establishment unit since 2006
Ground area
2,371 m²
Building footprint
110 m²
Volume, LiDAR
495 m³
Parcel 54002C1037/00T003, Wallonia · tallest building 6.4 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
TRBL MNGT
since 20062.153.526.890
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 54002C1037/00T003 | Wallonia | 2,370 m² | 1 · 110 m² | 6.4 m · 1 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 982 companies in sector 74209 we hold annual accounts for 143. 63 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
Founded08-05-2006
Fiscal year end31-12
Activities, NACEBEL 2025
74209Other photographic activities
18130Pre-press and pre-media services
74201Photography, excluding press photography
96999Other personal services
Scores and ratios are computed by Checked and are not a credit decision.