Summary
TRES is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €59k and a net result of €-7k. Equity is shrinking by ~6.9% per year across the filed fiscal years. Its solvency ranks better than 95% of 1482 sector peers (fiscal year 2025). The company has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-09-2026, 38 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
38 d late
2024
24 d early
2023
49 d late
2022
70 d late
2021
59 d late
2020
61 d late
2019
70 d late
← 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
Equity
€59k▼ 10.6%
2024 · €66k
2018: €101k
2019: €101k● +0.0% vs 2018highest in 8 years
2020: €100k▼ -0.6% vs 2019
2021: €100k▼ -0.9% vs 2020
2022: €93k▼ -6.5% vs 2021
2023: €80k▼ -13.9% vs 2022
2024: €66k▼ -17.1% vs 2023
2025: €59k▼ -10.6% vs 2024lowest in 8 years
2018 → 2025
Net result
€-7k▲ 48.4%
2024 · €-14k
2018: €-11k
2019: €11▲ +100% vs 2018highest in 8 years
2020: €-591▼ -5378% vs 2019
2021: €-884▼ -49.5% vs 2020
2022: €-6k▼ -636% vs 2021
2023: €-13k▼ -98.8% vs 2022
2024: €-14k▼ -5.9% vs 2023lowest in 8 years
2025: €-7k▲ +48.4% vs 2024
2018 → 2025
Total assets
€62k▼ 10.9%
2024 · €69k
2018: €102k
2019: €102k▲ +0.5% vs 2018highest in 8 years
2020: €101k▼ -1.4% vs 2019
2021: €100k▼ -0.5% vs 2020
2022: €95k▼ -5.8% vs 2021
2023: €82k▼ -13.5% vs 2022
2024: €69k▼ -15.3% vs 2023
2025: €62k▼ -10.9% vs 2024lowest in 8 years
2018 → 2025
Solvency
96.4%▲ 0.4pp
2024 · 96.0%
2018: 99.4%
2019: 98.9%▼ -0.5% vs 2018
2020: 99.6%▲ +0.8% vs 2019highest in 8 years
2021: 99.3%▼ -0.4% vs 2020
2022: 98.5%▼ -0.8% vs 2021
2023: 98.1%▼ -0.4% vs 2022
2024: 96.0%▼ -2.1% vs 2023lowest in 8 years
2025: 96.4%▲ +0.4% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€100k-€93k▼ 6.5%€80k▼ 13.9%€66k▼ 17.1%€59k▼ 10.6%
2021: €100khighest in 5 years
2022: €93k▼ -6.5% vs 2021
2023: €80k▼ -13.9% vs 2022
2024: €66k▼ -17.1% vs 2023
2025: €59k▼ -10.6% vs 2024lowest in 5 years
Operating result€-884-€-6k▼ 623%€-13k▼ 99.2%€-13k▼ 5.9%€-7k▲ 47.3%
2021: €-884highest in 5 years
2022: €-6k▼ -623% vs 2021
2023: €-13k▼ -99.2% vs 2022
2024: €-13k▼ -5.9% vs 2023lowest in 5 years
2025: €-7k▲ +47.3% vs 2024
Net result€-884-€-6k▼ 636%€-13k▼ 98.8%€-14k▼ 5.9%€-7k▲ 48.4%
2021: €-884highest in 5 years
2022: €-6k▼ -636% vs 2021
2023: €-13k▼ -98.8% vs 2022
2024: €-14k▼ -5.9% vs 2023lowest in 5 years
2025: €-7k▲ +48.4% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €7k in 2025 against €13k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €62k
Fixed assets
€35k ▼ 18.7%
Current assets
€27k ▲ 1.7%
Equity and liabilities €62k
Equity
€59k ▼ 10.6%
Debt
€2k ▼ 18.8%
Debt's share of the balance-sheet total falls from 4.0% to 3.6%. Equity and debt are lower.
Key figures and ratios
ROE
-11.9%▲
2024 · -20.6%
ROA
-11.4%▲
2024 · -19.8%
Debt ≤ 1 year
€2k▼
2024 · €2k
Debt > 1 year
€729=
2024 · €729
Income taxes
€60▼
2024 · €174
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 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€69k€62k▼
Fixed assets21/28€43k€35k▼
Tangible fixed assets22/27€43k€35k▼
Land and buildings22€43k€35k▼
Current assets29/58€26k€27k▲
Stocks and contracts in progress3€3k€3k=
Stocks30/36€3k€3k=
Amounts receivable within one year40/41€750€3k▲
Trade receivables40€750€3k▲
Cash at bank and in hand54/58€22k€21k▼
Deferred charges and accrued income490/1€516-
Equity and liabilities
Total equity and liabilities10/49€69k€62k▼
Equity10/15€66k€59k▼
Contributions10/11€24k€24k=
Capital10€24k€24k=
Issued capital100€24k€24k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k€2k=
Profit (loss) carried forward14€40k€33k▼
Amounts payable17/49€3k€2k▼
Amounts payable after more than one year17€729€729=
Financial debts170/4€729€729=
Amounts payable within one year42/48€2k€2k▼
Trade debts44€308€242▼
Suppliers440/4€308€242▼
Taxes, remuneration and social security45€174€60▼
Taxes450/3€174€60▼
Other amounts payable47/48€2k€1k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€18k€8k▼
Other operating charges640/8€2k€2k▼
Gross operating margin9900€7k€3k▼
Operating profit (loss)9901€-13k€-7k▲
Financial income75/76B-€147
Recurring financial income75-€147
Financial charges65/66B€29€38▲
Recurring financial charges65€29€38▲
Profit (loss) for the period before taxes9903€-14k€-7k▲
Income taxes67/77€174€60▼
Profit (loss) for the period9904€-14k€-7k▲
Profit (loss) for the period to be appropriated9905€-14k€-7k▲
Appropriation of the result
Profit (loss) to be appropriated9906€40k€33k▼
Profit (loss) brought forward from the previous period14P€54k€40k▼
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4k | €6k | €13k | €18k | €8k | ▼ 55.0% |
| Other operating charges640/8 | €1k | €2k | €2k | €2k | €2k | ▼ 4.5% |
| Non-recurring operating charges66A | €23 | - | - | - | - | - |
| Gross operating margin9900 | €4k | €1k | €2k | €7k | €3k | ▼ 53.3% |
| Operating profit (loss)9901 | €-884 | €-6k | €-13k | €-13k | €-7k | ▲ 47.3% |
| Financial income75/76B | - | - | - | - | €147 | - |
| Recurring financial income75 | - | - | - | - | €147 | - |
| Financial charges65/66B | - | €24 | €24 | €29 | €38 | ▲ 31.6% |
| Recurring financial charges65 | - | €24 | €24 | €29 | €38 | ▲ 31.6% |
| Profit (loss) for the period before taxes9903 | €-884 | €-6k | €-13k | €-14k | €-7k | ▲ 48.2% |
| Income taxes67/77 | - | €85 | €164 | €174 | €60 | ▼ 65.7% |
| Profit (loss) for the period9904 | €-884 | €-6k | €-13k | €-14k | €-7k | ▲ 48.4% |
| Profit (loss) for the period to be appropriated9905 | €-884 | €-6k | €-13k | €-14k | €-7k | ▲ 48.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €100k | €95k | €82k | €69k | €62k | ▼ 10.9% |
| Fixed assets21/28 | €79k | €73k | €61k | €43k | €35k | ▼ 18.7% |
| Tangible fixed assets22/27 | €79k | €73k | €61k | €43k | €35k | ▼ 18.7% |
| Land and buildings22 | €67k | €65k | €55k | €43k | €35k | ▼ 18.7% |
| Furniture and vehicles24 | €12k | €9k | €6k | - | - | - |
| Current assets29/58 | €21k | €21k | €21k | €26k | €27k | ▲ 1.7% |
| Stocks and contracts in progress3 | €3k | €3k | €3k | €3k | €3k | = |
| Stocks30/36 | €3k | €3k | €3k | €3k | €3k | = |
| Amounts receivable within one year40/41 | €1k | €1k | - | €750 | €3k | ▲ 343% |
| Trade receivables40 | - | €909 | - | €750 | €3k | ▲ 343% |
| Other amounts receivable41 | €1k | €538 | - | - | - | - |
| Cash at bank and in hand54/58 | €16k | €16k | €17k | €22k | €21k | ▼ 7.2% |
| Deferred charges and accrued income490/1 | €752 | €576 | €605 | €516 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €100k | €95k | €82k | €69k | €62k | ▼ 10.9% |
| Equity10/15 | €100k | €93k | €80k | €66k | €59k | ▼ 10.6% |
| Contributions10/11 | €24k | €24k | €24k | €24k | €24k | = |
| Capital10 | €24k | - | €24k | €24k | €24k | = |
| Issued capital100 | €24k | - | €24k | €24k | €24k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Legal reserve130 | €2k | - | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | - | - | - | - |
| Profit (loss) carried forward14 | €73k | €66k | €54k | €40k | €33k | ▼ 17.7% |
| Amounts payable17/49 | €729 | €1k | €2k | €3k | €2k | ▼ 18.8% |
| Amounts payable after more than one year17 | €729 | €729 | €729 | €729 | €729 | = |
| Financial debts170/4 | - | €729 | €729 | €729 | €729 | = |
| Other amounts payable178/9 | €729 | - | - | - | - | - |
| Amounts payable within one year42/48 | - | €725 | €861 | €2k | €2k | ▼ 25.4% |
| Trade debts44 | - | €119 | €101 | €308 | €242 | ▼ 21.5% |
| Suppliers440/4 | - | €119 | €101 | €308 | €242 | ▼ 21.5% |
| Taxes, remuneration and social security45 | - | €42 | €164 | €174 | €60 | ▼ 65.7% |
| Taxes450/3 | - | €42 | €164 | €174 | €60 | ▼ 65.7% |
| Other amounts payable47/48 | - | €564 | €596 | €2k | €1k | ▼ 21.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-884 | €-6k | €-13k | €-14k | €-7k | ▲ 48.4% |
| + Depreciation and write-downs630 | €4k | €6k | €13k | €18k | €8k | ▼ 55.0% |
| Operating cash flow (approximation) | €3k | €-874 | €-217 | €4k | €969 | ▼ 76.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €-300 | €1k | €5k | €-2k | ▼ 134% |
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
07-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 38 days late
2025
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-14k
Net result drops to €-14k, the lowest in the series; recovery starts the following year.
18-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 49 days late
2023
09-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 70 days late
2022
28-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 59 days late
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
2020
31-12
Financial
Liquidity times 12current ratio 431.62
Current ratio from 37.14 to 431.62; short-term debt falls from €830 to €73.
09-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 70 days late
2019
31-12
Financial
Back to profitnet €11
Net result €11 after one loss-making year.
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
07-07
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 8 acts read
About the unread acts
We know of 8 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
8 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, Antwerpen
Ground area
483 m²
Building footprint
483 m²
Volume, LiDAR
6,133 m³
Parcel 11811L3617/00D004, Flanders · tallest building 18.6 m, ±5 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11811L3617/00D004 | Flanders | 483 m² | 1 · 483 m² | 18.6 m · 5 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 853 companies in sector 66210 we hold annual accounts for 511. 418 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded20-01-1989
Fiscal year end31-12
Activities, NACEBEL 2025
66210Risk and damage evaluation
Scores and ratios are computed by Checked and are not a credit decision.