Trearbe
ActiveSummary
Trearbe has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €8.8m and a net result of €117,762. Equity remains stable across the filed fiscal years (±1.4% per year). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability70▲+22
Solvency100▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €650,000 at 30 days acceptable
Liquidity ample (current ratio 1.55 against 1.15 in 2024; short-term debt: 4.3% and cash: 6.5% of total assets), and 7.8% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
92.2%
Return on assets
1.2%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €8.8m
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
3 d early
2023
30 d late
2022
31 d late
2021
31 d late
2020
26 d late
2019
61 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 24 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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 31 August (4 of the last 5 filed years within 34 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€8.8m▲ 532%
2024 · €1.4m
Total assets
€9.5m▲ 371%
2024 · €2.0m
Net result
€117,762▲ 1,279%
2024 · €8,539
Working capital
€225,836▲ 325%
2024 · €53,159
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€37,024▲ 80.6%€63,498▲ 71.5%€110,456▲ 74.0%€53,794▼ 51.3%€196,307▲ 265%
Net result-€110▲ 99.5%€26,422€55,603▲ 110%€8,539▼ 84.6%€117,762▲ 1,279%
Equity€1.3m=€1.3m▲ 2.0%€1.4m▲ 4.1%€1.4m▲ 0.6%€8.8m▲ 532%
Total assets€2.0m▼ 1.5%€2.0m▲ 0.1%€2.0m▼ 2.1%€2.0m▲ 3.2%€9.5m▲ 371%
Debt€670,970▼ 4.0%€649,387▼ 3.2%€538,812▼ 17.0%€595,521▲ 10.5%€689,735▲ 15.8%
Working capital-€534,179▲ 10.0%-€405,592▲ 24.1%-€75,923▲ 81.3%€53,159€225,836▲ 325%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2025 Net result +1,279% on 2024. The accounts now follow the abbreviated schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 265% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.5m
Fixed assets
€8.9m ▲ 451%
Current assets
€633,634 ▲ 56.0%
Equity and liabilities €9.5m
Equity
€8.8m ▲ 532%
Provisions
€54,084 ▲ 56.3%
Debt
€689,735 ▲ 15.8%
Debt's share of the balance-sheet total falls from 29.5% to 7.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€287,775▲
2024 · €148,571
Cash flow
€209,230▲
2024 · €103,315
Current ratio
1.55▲
2024 · 1.15
Debt to equity
0.08▼
2024 · 0.43
ROE
1.3%▲
2024 · 0.6%
ROA
1.2%▲
2024 · 0.4%
Interest coverage
6.97▲
2024 · 3.43
Debt ≤ 1 year
€407,798▲
2024 · €353,063
Income taxes
€20,517▲
2024 · €4,911
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,860 companies that looked in July 2024 the way this one looks now, 0.1% went bankrupt within 24 months and 98% are still going.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.1%
went bankrupt
2.0%
stopped otherwise
98%
still going
For this company itself Checked computes a higher bankruptcy probability: 0.7% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.9% |
| 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% 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 1,860 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €9,000 | €69,249 | - | €87,667 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €107,986 | €99,624 | €101,769 | €94,776 | €91,468 | ▼ 3.5% |
| Other operating charges640/8 | €40,600 | €37,492 | €42,660 | €41,906 | €44,085 | ▲ 5.2% |
| Gross operating margin9900 | €185,610 | €200,614 | €254,885 | €190,477 | €331,861 | ▲ 74.2% |
| Operating profit (loss)9901 | €37,024 | €63,498 | €110,456 | €53,794 | €196,307 | ▲ 265% |
| Financial income75/76B | €0 | €12 | €174 | €542 | €2,743 | ▲ 406% |
| Recurring financial income75 | €0 | €12 | €174 | €542 | €2,743 | ▲ 406% |
| Financial charges65/66B | €39,548 | €39,490 | €40,161 | €43,306 | €41,285 | ▼ 4.7% |
| Recurring financial charges65 | €39,548 | €39,490 | €40,161 | €43,306 | €41,285 | ▼ 4.7% |
| Profit (loss) for the period before taxes9903 | -€2,523 | €24,019 | €70,468 | €11,031 | €157,765 | ▲ 1,330% |
| Transfer from deferred taxes780 | €2,641 | €2,590 | €2,611 | €2,419 | €2,430 | ▲ 0.5% |
| Transfer to deferred taxes680 | - | - | €17,312 | - | €21,917 | - |
| Income taxes67/77 | €228 | €186 | €164 | €4,911 | €20,517 | ▲ 318% |
| Profit (loss) for the period9904 | -€110 | €26,422 | €55,603 | €8,539 | €117,762 | ▲ 1,279% |
| Transfer from tax-exempt reserves789 | €5,129 | €5,049 | €6,039 | €5,283 | €5,497 | ▲ 4.1% |
| Transfer to tax-exempt reserves689 | - | - | €51,937 | - | €65,750 | - |
| Profit (loss) for the period to be appropriated9905 | €5,019 | €31,471 | €9,705 | €13,822 | €57,509 | ▲ 316% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.0m | €2.0m | €2.0m | €2.0m | €9.5m | ▲ 371% |
| Fixed assets21/28 | €2.0m | €1.9m | €1.7m | €1.6m | €8.9m | ▲ 451% |
| Tangible fixed assets22/27 | €2.0m | €1.9m | €1.7m | €1.6m | €8.9m | ▲ 451% |
| Land and buildings22 | €2.0m | €1.9m | €1.7m | €1.6m | €8.9m | ▲ 453% |
| Plant, machinery and equipment23 | €504 | €252 | €4,780 | €3,780 | €2,780 | ▼ 26.4% |
| Furniture and vehicles24 | €4,295 | €3,343 | €2,786 | €2,229 | €1,970 | ▼ 11.6% |
| Financial fixed assets28 | €124 | €124 | €124 | €124 | €124 | = |
| Current assets29/58 | €25,387 | €91,467 | €271,954 | €406,222 | €633,634 | ▲ 56.0% |
| Amounts receivable within one year40/41 | - | €27,899 | €5,000 | €4,938 | €7,728 | ▲ 56.5% |
| Trade receivables40 | - | €25,443 | €3,843 | - | - | - |
| Other amounts receivable41 | - | €2,456 | €1,157 | €4,938 | €7,728 | ▲ 56.5% |
| Current investments50/53 | €6,606 | €40,092 | €261,616 | - | - | - |
| Cash at bank and in hand54/58 | €15,922 | €20,510 | €2,968 | €398,469 | €622,920 | ▲ 56.3% |
| Deferred charges and accrued income490/1 | €2,859 | €2,967 | €2,370 | €2,815 | €2,986 | ▲ 6.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.0m | €2.0m | €2.0m | €2.0m | €9.5m | ▲ 371% |
| Equity10/15 | €1.3m | €1.3m | €1.4m | €1.4m | €8.8m | ▲ 532% |
| Contributions10/11 | €708,480 | €708,480 | €708,480 | €708,480 | €708,480 | = |
| Capital10 | €708,480 | €708,480 | €708,480 | €708,480 | €708,480 | = |
| Issued capital100 | €708,480 | €708,480 | €708,480 | €708,480 | €708,480 | = |
| Revaluation surpluses12 | - | - | - | - | €7.3m | - |
| Reserves13 | €582,650 | €582,650 | €634,587 | €635,278 | €704,236 | ▲ 10.9% |
| Non-distributable reserves130/1 | €21,810 | €21,810 | €21,810 | €22,501 | €25,377 | ▲ 12.8% |
| Legal reserve130 | €21,810 | €21,810 | €21,810 | €22,501 | €25,377 | ▲ 12.8% |
| Tax-exempt reserves132 | €281,702 | €276,653 | €322,731 | €317,447 | €377,700 | ▲ 19.0% |
| Distributable reserves133 | €279,138 | €284,187 | €290,046 | €295,329 | €301,159 | ▲ 2.0% |
| Profit (loss) carried forward14 | €7,377 | €33,799 | €36,701 | €44,549 | €93,353 | ▲ 110% |
| Provisions and deferred taxes16 | €24,915 | €22,325 | €37,016 | €34,597 | €54,084 | ▲ 56.3% |
| Deferred taxes168 | €24,915 | €22,325 | €37,016 | €34,597 | €54,084 | ▲ 56.3% |
| Amounts payable17/49 | €670,970 | €649,387 | €538,812 | €595,521 | €689,735 | ▲ 15.8% |
| Amounts payable within one year42/48 | €559,566 | €497,060 | €347,876 | €353,063 | €407,798 | ▲ 15.5% |
| Trade debts44 | €4,311 | €2,777 | €469 | €1,055 | €50,862 | ▲ 4,723% |
| Suppliers440/4 | €4,311 | €2,777 | €469 | €1,055 | €50,862 | ▲ 4,723% |
| Taxes, remuneration and social security45 | €228 | €414 | €164 | €4,765 | €9,694 | ▲ 103% |
| Taxes450/3 | €228 | €414 | €164 | €4,765 | €9,694 | ▲ 103% |
| Other amounts payable47/48 | €555,027 | €493,869 | €347,243 | €347,243 | €347,243 | = |
| Accrued charges and deferred income492/3 | €111,404 | €152,327 | €190,935 | €242,458 | €281,937 | ▲ 16.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€110 | €26,422 | €55,603 | €8,539 | €117,762 | ▲ 1,279% |
| + Depreciation and write-downs630 | €107,986 | €99,624 | €101,769 | €94,776 | €91,468 | ▼ 3.5% |
| Operating cash flow (approximation) | €107,876 | €126,046 | €157,372 | €103,315 | €209,230 | ▲ 103% |
| Investment in fixed assets (approximation) | - | -€35,792 | €119,762 | -€23,337 | -€7.4m | ▼ 31,434% |
| Change in cash | - | €4,589 | -€17,542 | €395,500 | €224,452 | ▼ 43.2% |
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
Highest result since 2018net €117,762 ▲1,279%
Operating result €196,307, net result €117,762, both a record.
31-12
Financial
Equity above €5mEq €8.8m ▲532%
4 profitable years in a row build equity to €8.8m.
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Back to profitnet €26,422
Net result €26,422 after 4 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 24 days late
28-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 212 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Sint-Jans-Molenbeek · 1 establishment unit since 1983
Ground area
248 m²
Building footprint
122 m²
Volume, LiDAR
1,581 m³
Parcel 21524C0175/00D007, Brussels · tallest building 14.8 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
NV TREARBE
since 19832.022.473.457
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21524C0175/00D007 | Brussels | 248 m² | 1 · 122 m² | 14.8 m · 4 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.
Identification & contact
Identification
Legal formPublic limited company
Founded28-01-1983
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
What can you do?
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.