TRO CONSTRUCT
ActiveSummary
TRO CONSTRUCT has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €95,153 and a net result of €18,367. Equity is growing by ~12.3% per year across the filed fiscal years. Its solvency ranks better than 27% of 4664 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability52▼-12
Solvency41▲+4
Growth51▲+21
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity tight (current ratio 1.35 against 1.12 in 2024; short-term debt: 37.2% and cash: 0.1% of total assets), and 84.2% of the assets are financed with debt.
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Signals
Two signals. The signal on the left, the evidence on the right.
+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 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 30-04-2025 was due by 30-11-2025 and was filed on 29-11-2025, 1 day ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
1 d early
2024
2 d late
2023
on the day
2022
1 d late
2021
42 d late
2020
9 d late
2019
10 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 6 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 49% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-04-2026 and is due by 30-11-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-04-2026 close26-09-2026 today30-11-2026 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€632,658▲ 42.8%
2024 · €442,975
EBIT margin
7.2%▼ 2.4pp
2024 · 9.6%
Net result
€18,367▲ 7.9%
2024 · €17,020
Working capital
€77,687▲ 122%
2024 · €35,005
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
Turnover€433,342▼ 22.2%€397,244▼ 8.3%€653,716▲ 64.6%€442,975▼ 32.2%€632,658▲ 42.8%
Operating result€8,963€30,066▲ 235%€56,657▲ 88.4%€42,526▼ 24.9%€45,838▲ 7.8%
Net result€1,760€1,829▲ 3.9%€12,873▲ 604%€17,020▲ 32.2%€18,367▲ 7.9%
EBIT margin2.1%▲ 9.0pp7.6%▲ 5.5pp8.7%▲ 1.1pp9.6%▲ 0.9pp7.2%▼ 2.4pp
Equity€45,065▲ 4.1%€46,894▲ 4.1%€59,767▲ 27.5%€76,787▲ 28.5%€95,153▲ 23.9%
Total assets€274,829▼ 7.5%€335,608▲ 22.1%€634,178▲ 89.0%€635,152▲ 0.2%€601,424▼ 5.3%
Debt€229,764▼ 9.5%€288,714▲ 25.7%€574,411▲ 99.0%€558,365▼ 2.8%€506,271▼ 9.3%
Working capital€57,239▲ 97.0%€47,835▼ 16.4%€27,010▼ 43.5%€35,005▲ 29.6%€77,687▲ 122%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 8% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €601,424
Fixed assets
€299,762 ▼ 6.2%
Current assets
€301,663 ▼ 4.4%
Equity and liabilities €601,424
Equity
€95,153 ▲ 23.9%
Debt
€506,271 ▼ 9.3%
Debt's share of the balance-sheet total falls from 87.9% to 84.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€60,507▼
2024 · €69,358
Cash flow
€33,035▼
2024 · €43,852
Current ratio
1.35▲
2024 · 1.12
Debt to equity
5.32▼
2024 · 7.27
ROE
19.3%▼
2024 · 22.2%
ROA
3.1%▲
2024 · 2.7%
Interest coverage
3.24▼
2024 · 3.98
Debt ≤ 1 year
€223,976▼
2024 · €280,591
Debt > 1 year
€282,295▲
2024 · €277,774
Income taxes
€8,810▲
2024 · €8,094
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €433,342 | €397,244 | €653,716 | €442,975 | €632,658 | ▲ 42.8% |
| Goods, raw materials, services and sundry goods60/61 | - | €352,003 | €519,806 | €369,207 | €563,992 | ▲ 52.8% |
| Remuneration, social security and pensions62 | - | €3,591 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,036 | €19,440 | €25,597 | €26,832 | €14,669 | ▼ 45.3% |
| Other operating charges640/8 | - | €2,218 | €51,656 | €4,411 | €8,159 | ▲ 85.0% |
| Gross operating margin9900 | €41,226 | €55,314 | €133,910 | €73,768 | €68,666 | ▼ 6.9% |
| Operating profit (loss)9901 | €8,963 | €30,066 | €56,657 | €42,526 | €45,838 | ▲ 7.8% |
| Financial income75/76B | - | €2 | - | €4 | - | - |
| Recurring financial income75 | €0 | €2 | - | €4 | - | - |
| Financial charges65/66B | - | €8,662 | €38,263 | €17,416 | €18,661 | ▲ 7.2% |
| Recurring financial charges65 | €6,654 | €8,662 | €38,263 | €17,416 | €18,661 | ▲ 7.2% |
| Profit (loss) for the period before taxes9903 | €2,309 | €21,406 | €18,394 | €25,114 | €27,177 | ▲ 8.2% |
| Income taxes67/77 | €549 | €19,577 | €5,521 | €8,094 | €8,810 | ▲ 8.9% |
| Profit (loss) for the period9904 | €1,760 | €1,829 | €12,873 | €17,020 | €18,367 | ▲ 7.9% |
| Profit (loss) for the period to be appropriated9905 | €1,760 | €1,829 | €12,873 | €17,020 | €18,367 | ▲ 7.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €274,829 | €335,608 | €634,178 | €635,152 | €601,424 | ▼ 5.3% |
| Fixed assets21/28 | €65,013 | €48,949 | €331,512 | €319,555 | €299,762 | ▼ 6.2% |
| Tangible fixed assets22/27 | €62,213 | €48,949 | €331,512 | €319,555 | €299,762 | ▼ 6.2% |
| Land and buildings22 | - | - | €302,003 | €293,794 | €285,584 | ▼ 2.8% |
| Plant, machinery and equipment23 | - | €3,543 | €1,891 | €12,398 | €10,303 | ▼ 16.9% |
| Furniture and vehicles24 | - | €45,406 | €27,618 | €13,363 | €3,874 | ▼ 71.0% |
| Financial fixed assets28 | €2,800 | - | - | - | - | - |
| Current assets29/58 | €209,816 | €286,659 | €302,666 | €315,597 | €301,663 | ▼ 4.4% |
| Amounts receivable within one year40/41 | €196,223 | €285,072 | €300,820 | €314,542 | €299,615 | ▼ 4.7% |
| Trade receivables40 | - | €228,188 | €258,180 | €250,961 | €227,420 | ▼ 9.4% |
| Other amounts receivable41 | - | €56,884 | €42,640 | €63,581 | €72,195 | ▲ 13.5% |
| Cash at bank and in hand54/58 | €10,693 | €1,587 | €1,846 | €1,055 | €533 | ▼ 49.5% |
| Deferred charges and accrued income490/1 | - | - | - | - | €1,516 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €274,829 | €335,608 | €634,178 | €635,152 | €601,424 | ▼ 5.3% |
| Equity10/15 | €45,065 | €46,894 | €59,767 | €76,787 | €95,153 | ▲ 23.9% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | - | €6,200 | - | - | - | - |
| Issued capital100 | - | €18,600 | - | - | - | - |
| Uncalled capital101 | - | €12,400 | - | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €37,005 | €38,834 | €51,707 | €68,727 | €87,093 | ▲ 26.7% |
| Amounts payable17/49 | €229,764 | €288,714 | €574,411 | €558,365 | €506,271 | ▼ 9.3% |
| Amounts payable after more than one year17 | €77,187 | €49,889 | €298,755 | €277,774 | €282,295 | ▲ 1.6% |
| Financial debts170/4 | - | €49,889 | €298,755 | €277,774 | €282,295 | ▲ 1.6% |
| Amounts payable within one year42/48 | €152,577 | €238,825 | €275,656 | €280,591 | €223,976 | ▼ 20.2% |
| Current portion of amounts payable after more than one year42 | - | €18,060 | €29,943 | €17,525 | €28,832 | ▲ 64.5% |
| Financial debts43 | - | €59,504 | €26,074 | €56,563 | - | - |
| Credit institutions430/8 | - | €59,504 | €26,074 | €56,563 | - | - |
| Trade debts44 | €64,411 | €129,003 | €213,375 | €206,504 | €186,334 | ▼ 9.8% |
| Suppliers440/4 | - | €32,108 | €77,739 | €25,640 | €30,176 | ▲ 17.7% |
| Bills of exchange payable441 | - | €96,895 | €135,637 | €180,864 | €156,158 | ▼ 13.7% |
| Taxes, remuneration and social security45 | - | €32,257 | €6,263 | - | €8,810 | - |
| Taxes450/3 | - | - | €5,521 | - | €8,810 | - |
| Remuneration and social security454/9 | - | €32,257 | €742 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,760 | €1,829 | €12,873 | €17,020 | €18,367 | ▲ 7.9% |
| + Depreciation and write-downs630 | €14,036 | €19,440 | €25,597 | €26,832 | €14,669 | ▼ 45.3% |
| Operating cash flow (approximation) | €15,797 | €21,269 | €38,469 | €43,852 | €33,035 | ▼ 24.7% |
| Investment in fixed assets (approximation) | - | -€3,375 | -€308,160 | -€14,875 | €5,125 | ▲ 134% |
| Change in cash | - | -€9,105 | €258 | -€791 | -€522 | ▲ 34.0% |
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
2025
29-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
02-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 2 days late
2023
30-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
01-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 1 day late
11-01
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 42 days late
2021
30-04
Financial
Back to profitnet €1,760
Net result €1,760 after one loss-making year.
2020
09-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 9 days late
30-04
Financial
Weakest financial yearnet -€45,318
Net result drops to -€45,318, the lowest in the series; recovery starts the following year.
2019
20-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
30-11
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
31-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Vilvoorde · 1 establishment unit since 2015
Ground area
462 m²
Building footprint
102 m²
Volume, LiDAR
534 m³
Parcel 23643G0263/00N002, Flanders · tallest building 17.8 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
TRO CONSTRUCT
since 20152.248.872.744
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23643G0263/00N002 | Flanders | 462 m² | 1 · 102 m² | 17.8 m · 2 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 12,584 companies in sector 49410 we hold annual accounts for 8,199. 6,323 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
Founded21-12-2015
Fiscal year end30-04
Activities, NACEBEL 2025
49410Freight transport by road
43990Other specialised construction activities
52250Logistics services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0644718814
Also
9925:BE0644718814
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.