TREESIGN
ActiveSummary
The computed 12-month bankruptcy probability of TREESIGN is 3.4% (moderate). The 2025 annual accounts show negative equity (-€76,548) and a net result of -€58,385. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 34,747 sector peers (NACE 43, financial year 2025). The company has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
- Staff
- 5.8 FTE
- Equity
- -€76,548
- Loss
- -€58,385
Why 47raises riskLoss of €58,385, the second in a row (financial year 2025)Negative equity -€76,5482 establishment unitslowers riskSize: total assets €90,536Show the evidence
Checked score
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 (NACE 43, micro): better than 3% on solvency, 6% on liquidity, 4% on profitability and 1% on growth.
The bankruptcy probability was computed on 28-10-2026 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).
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Signals
This company filed its last 6 accounts on average 16 days before the deadline; the sector median (NACE 43) for financial year 2024 is 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Weakest financial yearnet -€58,385
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2020 to 2025, 6 financial years
The operating result turns negative in 2025: a loss of €57,747 after €1,374 in 2024, the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 43, Specialised construction 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).
Peer companies
Historical observationOf the 6,007 companies that looked in July 2024 the way this one looks now, 7.9% went bankrupt within 24 months and 83.0% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 3.4% 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 497,445 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% | 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% |
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 6,007 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.
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €134,571 | €103,517 | €163,578 | €173,493 | ▲ 6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,003 | €12,702 | €13,122 | €12,791 | €10,939 | €6,311 | ▼ 42.3% |
| Other operating charges640/8 | - | - | €2,192 | €363 | €1,094 | €1,243 | ▲ 13.6% |
| Gross operating margin9900 | €19,742 | €81,686 | €114,449 | €134,926 | €176,984 | €123,300 | ▼ 30.3% |
| Operating profit (loss)9901 | -€20,888 | €4,061 | -€35,436 | €18,254 | €1,374 | -€57,747 | - |
| Financial charges65/66B | - | - | €2,167 | €966 | €2,325 | €638 | ▼ 72.6% |
| Recurring financial charges65 | €22 | €48 | €2,167 | €966 | €2,325 | €638 | ▼ 72.6% |
| Profit (loss) for the period before taxes9903 | -€20,911 | €4,014 | -€37,604 | €17,289 | -€951 | -€58,385 | ▼ 6,038% |
| Profit (loss) for the period9904 | -€20,911 | €4,014 | -€37,604 | €17,289 | -€951 | -€58,385 | ▼ 6,038% |
| Profit (loss) for the period to be appropriated9905 | -€20,911 | €4,014 | -€37,604 | €17,289 | -€951 | -€58,385 | ▼ 6,038% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €52,785 | €75,483 | €68,478 | €61,004 | €96,325 | €90,536 | ▼ 6.0% |
| Fixed assets21/28 | €42,008 | €47,619 | €29,122 | €16,393 | €12,907 | €28,036 | ▲ 117% |
| Tangible fixed assets22/27 | €42,008 | €47,619 | €29,122 | €16,331 | €12,845 | €24,974 | ▲ 94.4% |
| Plant, machinery and equipment23 | - | - | €19,578 | €10,658 | €3,783 | €17,249 | ▲ 356% |
| Furniture and vehicles24 | - | - | €9,545 | €5,672 | €9,062 | €7,725 | ▼ 14.8% |
| Financial fixed assets28 | - | - | - | €62 | €62 | €3,062 | ▲ 49× |
| Current assets29/58 | €10,777 | €27,864 | €39,355 | €44,611 | €83,418 | €62,500 | ▼ 25.1% |
| Stocks and contracts in progress3 | €2,500 | €5,150 | €5,800 | €5,216 | €16,716 | €16,716 | = |
| Stocks30/36 | - | - | €5,800 | €5,216 | €16,716 | €16,716 | = |
| Amounts receivable within one year40/41 | €4,877 | €11,784 | €18,184 | €6,150 | €56,748 | €30,155 | ▼ 46.9% |
| Trade receivables40 | - | - | €17,667 | €4,229 | €48,153 | €22,076 | ▼ 54.2% |
| Other amounts receivable41 | - | - | €517 | €1,921 | €8,594 | €8,078 | ▼ 6.0% |
| Cash at bank and in hand54/58 | €2,733 | €2,178 | €11,615 | €29,539 | €6,414 | €7,575 | ▲ 18.1% |
| Deferred charges and accrued income490/1 | - | - | €3,757 | €3,707 | €3,541 | €8,054 | ▲ 127% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €52,785 | €75,483 | €68,478 | €61,004 | €96,325 | €90,536 | ▼ 6.0% |
| Equity10/15 | -€911 | €3,103 | -€34,501 | -€17,212 | -€18,163 | -€76,548 | ▼ 321% |
| Contributions10/11 | €20,000 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Profit (loss) carried forward14 | -€20,911 | -€16,897 | -€54,501 | -€37,212 | -€38,163 | -€96,548 | ▼ 153% |
| Amounts payable17/49 | €53,696 | €72,379 | €102,978 | €78,216 | €114,489 | €167,084 | ▲ 45.9% |
| Amounts payable after more than one year17 | €6,328 | €3,461 | - | €180 | - | - | - |
| Other amounts payable178/9 | - | - | - | €180 | - | - | - |
| Amounts payable within one year42/48 | €46,578 | €68,919 | €102,978 | €78,036 | €114,489 | €167,084 | ▲ 45.9% |
| Current portion of amounts payable after more than one year42 | - | - | €1,181 | - | - | - | - |
| Trade debts44 | €34,691 | €42,207 | €62,826 | €46,026 | €73,936 | €86,071 | ▲ 16.4% |
| Suppliers440/4 | - | - | €62,826 | €46,026 | €73,936 | €86,071 | ▲ 16.4% |
| Advances received on contracts in progress46 | - | - | - | €2,250 | €2,250 | €3,125 | ▲ 38.9% |
| Taxes, remuneration and social security45 | - | - | €20,718 | €20,906 | €23,619 | €27,493 | ▲ 16.4% |
| Taxes450/3 | - | - | €1,206 | €1,058 | €514 | €950 | ▲ 84.8% |
| Remuneration and social security454/9 | - | - | €19,512 | €19,848 | €23,105 | €26,542 | ▲ 14.9% |
| Other amounts payable47/48 | - | - | €18,253 | €8,854 | €14,683 | €50,395 | ▲ 243% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€20,911 | €4,014 | -€37,604 | €17,289 | -€951 | -€58,385 | ▼ 6,038% |
| + Depreciation and write-downs630 | €14,003 | €12,702 | €13,122 | €12,791 | €10,939 | €6,311 | ▼ 42.3% |
| Operating cash flow (approximation) | -€6,908 | €16,715 | -€24,482 | €30,080 | €9,988 | -€52,074 | - |
| Investment in fixed assets (approximation) | - | -€18,312 | €5,375 | -€62 | -€7,453 | -€21,439 | ▼ 188% |
| Change in cash | - | -€555 | €9,437 | €17,924 | -€23,125 | €1,162 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-03-2025 | micro format | 06-10-2025 | 2025-00531283 |
| 31-03-2024 | micro format | 24-09-2024 | 2024-00469280 |
| 31-03-2023 | micro format | 11-10-2023 | 2023-00482365 |
| 31-03-2022 | micro format | 24-11-2022 | 2022-20524494 |
| 31-03-2021 | micro format | 23-09-2021 | 2021-68100167 |
| 31-03-2020 | micro format | 03-11-2020 | 2020-68200567 |
Similar companies · same sector and region
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Owners and capital
Capital and shareholders
- 26-03-2024 Capital stated in the deed · 200 shares
Group and network
Connections & network
No directors read yet: 1 of 2 Gazette acts processed.
History
Acts, filings and financial milestones
26-03
Gazette deed
Amendment of the articles · Legal-form change · Resignations & appointments · MiscellaneousCapital conversion · Reserve release · Director in office11 facts ▸
- General meeting, 18-03-2024
- Amendment of the articles (2 times)
- Capital conversion, “compte de capitaux propres statutairement indisponible, compte de capitaux propres apports non appelés” (deed in French)
- Reserve release, “formes et majorités de la modification des statuts, suppression” (deed in French)
- Director in office, NOUNEBERG Pierre (director)
- Other provision, “CHAPITRE I:DÉNOMINATION,SIEGE,OBJET,DURÉE” (deed in French)
- Other provision, “CHAPITRE II:PATRIMOINE DE LA SOCIETE” (deed in French)
- Capital
- Other provision, “CHAPITRE III:DES TITRES,DE LEUR EMISSION ET DE LEUR TRANSMISSION” (deed in French)
- Power of attorney
- General meeting, “unanimité, toutes décisions précédentes” (deed in French)
About the unread acts
Of the 2 Belgian Official Gazette deeds we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 October 2026 · Peppol Directory
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 0719.324.482
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
2 establishment units
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 22001A0004/00C005 | Flanders | 502 m² | 1 · 502 m² | 12.3 m · 2 |
| 21007A0027/00M009 | Brussels | 158 m² | 1 · 101 m² | 23.2 m · 7 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Tous travaux de menuiserie et notamment : montage de menuiseries extérieures et intérieures: portes,fenêtres,escaliers,placards de cuisines…” (deed in French)
8 activities (deed in French)
- Tous travaux de menuiserie et notamment : montage de menuiseries extérieures et intérieures: portes,fenêtres,escaliers,placards de cuisines équipées,équipements pour magasins,dormants de portes et fenêtres etc.; toutes activités de conception,de création de mobilier en bois et de transformation du bois et de ses dérivés ; l’achat,la vente de bois au détail et en gros sur mesure ou non
- Tous travaux de ferronnerie/serrurerie : fabrication de serrures,de cadenas,de verrous,de clés et d'articles similaires de serrurerie pour le bâtiment,l'ameublement,les véhicules etc.,fabrication de charnières,de gonds,de paumelles,etc.
- Toutes opérations généralement quelconques se rapportant directement ou indirectement à l’architecture d’intérieur,au design et l’aménagement d'intérieur et notamment l'achat,la vente,la diffusion et le commerce en général de tous articles se rapportant à l'aménagement et à la décoration,du mobilier ancien et contemporain,la conception et la réalisation de projets de décoration d'intérieur,de stands pour événements/salons/foires,de vitrine de magasins,de décors de spectacle,la conception d'espace/scénographie/designer ; la conception et de fabrication de pièces de mobiliers et d’objets de décoration
- La fabrication,la conception,l’achat,la vente d’œuvres d'art,l’organisation d’événements privés et culturels,tels que des expositions,etc.
- La conception,la création et l’entretien de tous parcs,espaces verts extérieurs ou intérieurs,jardins privés ou publics,d’agrément ou autres,ainsi qu’à l’entreprise de tous travaux de jardinage; la création de mobilier urbain
- Location d'espace de stockage et atelier
- L’activité de brocanteur
- La fourniture de tous avis,conseils,formations et assistance sous quelque forme que ce soit dans les domaines précités
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- TREESIGN
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région de Bruxelles-Capitale, sièges administratifs,succursales,agences,dépôts et comptoirs en Belgique et à l'étranger” (deed in French)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Avec ou sans limitation de durée, si rémunéré,assemblée générale majorité simple ou actionnaire unique détermine montant fixe ou…” (deed in French)“Vacance place d'administrateur par décès,démission ou autre raison, administrateurs restants ont droit de coopter nouvel administrateur” (deed in French)
- Power of attorneyA special mandate allowing someone to perform one or more acts on the company's behalf.
- One provision in the deed
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Prix offert par tiers, Transfert actions agrément et préemption Article 10” (deed in French)
- Authorised capitalThe amount by which the board may raise capital without a new shareholder decision.
- “Émettre actions nouvelles,obligations convertibles,droits de souscription, autorisation” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Third Thursday of September at 18:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Pertes sonnette d'alarme, délibérer et décider dissolution éventuelle ou autres mesures ordre jour pour continuité” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Plus étendus articles 2:87 et suivants CSA, CHAPITRE VII DISSOLUTION-LIQUIDATION” (deed in French)