TréO
ActiveSummary
TréO has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €101,006 and a net result of €9,985. Equity is growing by ~10.3% per year across the filed fiscal years. Its solvency ranks better than 60% of 36380 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability61▼-39
Solvency81▼-18
Growth78=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity ample (current ratio 2.21 against 3.79 in 2023; short-term debt: 44.5% of total assets), and 44.5% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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 2024Solvency, return and age of the figures
Solvency
55.5%
Return on assets
5.5%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-07-2025, 13 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
13 d early
2023
48 d early
2022
24 d early
2021
26 d early
2020
39 d late
2019
11 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 14 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€101,006▲ 11.0%
2023 · €91,021
Total assets
€181,914▲ 48.9%
2023 · €122,202
Net result
€9,985▼ 67.6%
2023 · €30,839
Working capital
€98,150▲ 12.9%
2023 · €86,965
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€22,956€16,452▼ 28.3%€22,483▲ 36.7%€39,681▲ 76.5%€16,515▼ 58.4%
Net result€15,118within the sector's middle half€11,256within the sector's middle half▼ 25.5%€15,994within the sector's middle half▲ 42.1%€30,839above the sector's middle half▲ 92.8%€9,985within the sector's middle half▼ 67.6%
Equity€60,431within the sector's middle half▲ 20.1%€64,188within the sector's middle half▲ 6.2%€70,182within the sector's middle half▲ 9.3%€91,021within the sector's middle half▲ 29.7%€101,006within the sector's middle half▲ 11.0%
Total assets€117,031within the sector's middle half▲ 21.1%€112,162within the sector's middle half▼ 4.2%€107,609within the sector's middle half▼ 4.1%€122,202within the sector's middle half▲ 13.6%€181,914within the sector's middle half▲ 48.9%
Debt€56,599▲ 22.2%€47,974▼ 15.2%€37,427▼ 22.0%€31,181▼ 16.7%€80,909▲ 159%
Working capital€60,101▲ 20.2%€62,581▲ 4.1%€66,343▲ 6.0%€86,965▲ 31.1%€98,150▲ 12.9%
Solvency51.6%within the sector's middle half▼ 0.4pp57.2%within the sector's middle half▲ 5.6pp65.2%within the sector's middle half▲ 8.0pp74.5%above the sector's middle half▲ 9.3pp55.5%within the sector's middle half▼ 19.0pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 58% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €181,914
Fixed assets
€2,856 ▼ 29.6%
Current assets
€179,059 ▲ 51.6%
Equity and liabilities €181,914
Equity
€101,006 ▲ 11.0%
Debt
€80,909 ▲ 159%
Debt's share of the balance-sheet total rises from 25.5% to 44.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€17,715▼
2023 · €41,087
Cash flow
€11,186▼
2023 · €32,245
Current ratio
2.21▼
2023 · 3.79
Debt to equity
0.80▲
2023 · 0.34
ROE
9.9%▼
2023 · 33.9%
ROA
5.5%▼
2023 · 25.2%
Interest coverage
4.28▼
2023 · 8.89
Debt ≤ 1 year
€80,909▲
2023 · €31,181
Income taxes
€5,286▼
2023 · €6,746
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.0% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 34,672 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €21,260 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €245 | €835 | €1,406 | €1,201 | ▼ 14.6% |
| Other operating charges640/8 | - | €2,683 | €1,582 | €16,597 | €164 | ▼ 99.0% |
| Gross operating margin9900 | €23,150 | €19,379 | €24,900 | €57,684 | €17,879 | ▼ 69.0% |
| Operating profit (loss)9901 | €22,956 | €16,452 | €22,483 | €39,681 | €16,515 | ▼ 58.4% |
| Financial income75/76B | - | €2,476 | €2,384 | €2,527 | €2,900 | ▲ 14.8% |
| Recurring financial income75 | €216 | €2,476 | €2,384 | €2,527 | €2,900 | ▲ 14.8% |
| Financial charges65/66B | - | €3,015 | €2,539 | €4,623 | €4,143 | ▼ 10.4% |
| Recurring financial charges65 | €3,751 | €3,015 | €2,539 | €4,623 | €4,143 | ▼ 10.4% |
| Profit (loss) for the period before taxes9903 | €19,421 | €15,913 | €22,328 | €37,585 | €15,271 | ▼ 59.4% |
| Income taxes67/77 | €4,303 | €4,656 | €6,334 | €6,746 | €5,286 | ▼ 21.6% |
| Profit (loss) for the period9904 | €15,118 | €11,256 | €15,994 | €30,839 | €9,985 | ▼ 67.6% |
| Profit (loss) for the period to be appropriated9905 | €15,118 | €11,256 | €15,994 | €30,839 | €9,985 | ▼ 67.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €117,031 | €112,162 | €107,609 | €122,202 | €181,914 | ▲ 48.9% |
| Fixed assets21/28 | €330 | €1,607 | €3,839 | €4,056 | €2,856 | ▼ 29.6% |
| Tangible fixed assets22/27 | - | €1,277 | €3,509 | €3,726 | €2,526 | ▼ 32.2% |
| Plant, machinery and equipment23 | - | - | €1,210 | €949 | €689 | ▼ 27.4% |
| Furniture and vehicles24 | - | €1,277 | €2,299 | €2,777 | €1,836 | ▼ 33.9% |
| Financial fixed assets28 | €330 | €330 | €330 | €330 | €330 | = |
| Current assets29/58 | €116,701 | €110,555 | €103,770 | €118,145 | €179,059 | ▲ 51.6% |
| Amounts receivable after more than one year29 | - | €58,332 | €36,377 | €38,393 | €40,172 | ▲ 4.6% |
| Other amounts receivable291 | - | €58,332 | €36,377 | €38,393 | €40,172 | ▲ 4.6% |
| Amounts receivable within one year40/41 | €52,386 | €52,223 | €67,393 | €57,596 | €138,886 | ▲ 141% |
| Trade receivables40 | - | €50,284 | €60,185 | €48,506 | €97,829 | ▲ 102% |
| Other amounts receivable41 | - | €1,939 | €7,208 | €9,090 | €41,057 | ▲ 352% |
| Cash at bank and in hand54/58 | - | - | - | €21,422 | - | - |
| Deferred charges and accrued income490/1 | - | - | - | €734 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €117,031 | €112,162 | €107,609 | €122,202 | €181,914 | ▲ 48.9% |
| Equity10/15 | €60,431 | €64,188 | €70,182 | €91,021 | €101,006 | ▲ 11.0% |
| Contributions10/11 | - | €6,900 | €6,900 | €6,900 | €6,900 | = |
| Reserves13 | €11,860 | €15,610 | €21,600 | €41,600 | €50,600 | ▲ 21.6% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €13,750 | €19,740 | €39,740 | €48,740 | ▲ 22.6% |
| Profit (loss) carried forward14 | €41,671 | €41,678 | €41,682 | €42,521 | €43,506 | ▲ 2.3% |
| Amounts payable17/49 | €56,599 | €47,974 | €37,427 | €31,181 | €80,909 | ▲ 159% |
| Amounts payable within one year42/48 | €56,599 | €47,974 | €37,427 | €31,181 | €80,909 | ▲ 159% |
| Financial debts43 | - | €9,138 | €1,354 | - | €13,293 | - |
| Credit institutions430/8 | - | €9,138 | €1,354 | - | €13,293 | - |
| Trade debts44 | €16,383 | €11,081 | €7,045 | €8,675 | €41,209 | ▲ 375% |
| Suppliers440/4 | - | €11,081 | €7,045 | €8,675 | €41,209 | ▲ 375% |
| Taxes, remuneration and social security45 | - | €16,385 | €16,650 | €11,431 | €26,406 | ▲ 131% |
| Taxes450/3 | - | €16,385 | €16,650 | €11,431 | €26,406 | ▲ 131% |
| Other amounts payable47/48 | - | €11,370 | €12,379 | €11,074 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,118 | €11,256 | €15,994 | €30,839 | €9,985 | ▼ 67.6% |
| + Depreciation and write-downs630 | - | €245 | €835 | €1,406 | €1,201 | ▼ 14.6% |
| Operating cash flow (approximation) | €15,118 | €11,501 | €16,829 | €32,245 | €11,186 | ▼ 65.3% |
| Investment in fixed assets (approximation) | - | -€1,522 | -€3,066 | -€1,624 | €0 | ▲ 100% |
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
2025
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €100,000Eq €101,006 ▲11%
5 profitable years in a row build equity to €101,006.
13-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €30,839 ▲92.8%
Operating result €39,681, net result €30,839, both a record.
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
08-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 39 days late
2020
31-12
Financial
Back to profitnet €15,118
Net result €15,118 after 2 loss-making years.
20-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet -€17,499
Net result drops to -€17,499, the lowest in the series; recovery starts the following year.
22-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
19-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
24-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
04-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 4 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Fontaine-l'Evêque · 1 establishment unit since 2009
Ground area
698 m²
Building footprint
75 m²
Volume, LiDAR
778 m³
Parcel 52023B0904/00M002, Wallonia · tallest building 12.4 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
TREO
since 20092.183.168.013
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52023B0904/00M002 | Wallonia | 698 m² | 1 · 75 m² | 12.4 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 4,020 companies in sector 43310 we hold annual accounts for 1,747. 1,507 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
Founded04-12-2009
Fiscal year end31-12
Activities, NACEBEL 2025
43310Plastering work
23700Cutting, shaping and finishing of stone
43320Joinery installation
43331Floor and wall tiling
43422Screed work
43910Bricklaying and masonry work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0821147659
Registered
05-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.