TRUST ENGINEERING
Open bankruptcyFinancials · financial year 2024, abbreviated format
Equity
-€577,803▼ 65.8%
2023 · -€348,451
Total assets
€625,212▲ 12.9%
2023 · €553,668
Net result
-€229,352▼ 439%
2023 · -€42,539
Working capital
-€369,817▼ 4.2%
2023 · -€354,993
Trend over the years
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
The operating result turns negative in 2024: a loss of €189,585 after €25,937 in 2023, 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.
Operating result-€0.2m
2024
Net result-€0.2m
2024
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€0.6m
2024
Equity-€0.6m
2024
Debt€1.2m
2024
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€0.4m
2024
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-36.7%
2024
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency-92.4%
2024
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.62
2024
Average staff in full-time equivalents (FTE).
Staff (FTE)9.9
2024
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 71, Architectural and engineering activities; technical testing and analysis: 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).
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result€0.06m-€0.06m▲ 1.1%€0.006m▼ 91.2%-€0.06m-€0.1m▼ 108%€0.03m-€0.2m
Net result€0.003m--€0.001m-€0.07mbelow the sector's middle half▼ 8,709%-€0.1mbelow the sector's middle half▼ 48.3%-€0.2mbelow the sector's middle half▼ 74.0%-€0.04mbelow the sector's middle half▲ 75.7%-€0.2mbelow the sector's middle half▼ 439%
Equity€0.04m-€0.04m▼ 2.0%-€0.03mbelow the sector's middle half-€0.1mbelow the sector's middle half▼ 328%-€0.3mbelow the sector's middle half▼ 133%-€0.3mbelow the sector's middle half▼ 14.0%-€0.6mbelow the sector's middle half▼ 65.8%
Total assets€1.3m-€6.0m▲ 379%€1.1mwithin the sector's middle half▼ 81.9%€1.3mwithin the sector's middle half▲ 15.8%€1.2mwithin the sector's middle half▼ 6.9%€0.6mwithin the sector's middle half▼ 52.7%€0.6mwithin the sector's middle half▲ 12.9%
Debt€1.2m-€6.0m▲ 391%€1.1m▼ 81.3%€1.4m▲ 24.4%€1.5m▲ 6.3%€0.9m▼ 38.9%€1.2m▲ 33.4%
Working capital-€0.2m--€0.2m▼ 14.3%-€0.3mbelow the sector's middle half▼ 27.6%-€0.4mbelow the sector's middle half▼ 38.8%-€0.6mbelow the sector's middle half▼ 41.6%-€0.4mbelow the sector's middle half▲ 39.6%-€0.4mbelow the sector's middle half▼ 4.2%
Solvency3.0%-0.6%▼ 2.4pp-2.8%below the sector's middle half▼ 3.4pp-10.4%below the sector's middle half▼ 7.6pp-26.1%below the sector's middle half▼ 15.7pp-62.9%below the sector's middle half▼ 36.8pp-92.4%below the sector's middle half▼ 29.5pp
Current ratio0.74-0.96▲ 0.220.61below the sector's middle half▼ 0.350.61below the sector's middle half▲ 0.010.50below the sector's middle half▼ 0.110.60below the sector's middle half▲ 0.100.62below the sector's middle half▲ 0.02
Return on assets (ROA)0.3%-0.0%▼ 0.3pp-6.2%below the sector's middle half▼ 6.2pp-8.0%below the sector's middle half▼ 1.7pp-14.9%below the sector's middle half▼ 6.9pp-7.7%below the sector's middle half▲ 7.2pp-36.7%below the sector's middle half▼ 29.0pp
Staff (FTE)28-27.4▼ 2.1%22.7above the sector's middle half▼ 17.2%17.4above the sector's middle half▼ 23.3%12.3above the sector's middle half▼ 29.3%14.1above the sector's middle half▲ 14.6%9.9above the sector's middle half▼ 29.8%
above
within
below
the middle half of NACE 71, Architectural and engineering activities; technical testing and analysis: 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.
Turnover and EBIT margin not published: the abbreviated format does not require them.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €625,212
Fixed assets
€18,166 ▲ 9.8%
Current assets
€607,046 ▲ 13.0%
Equity and liabilities
Equity-€577,803
Debt€1.2m
Equity is negative: debt (€1.2m) exceeds the balance-sheet total (€625,212).
Key figures and ratios
EBITDA
-€183,822▼
2023 · €32,914
Cash flow
-€223,589▼
2023 · -€35,562
Interest coverage
-5.02▼
2023 · 0.48
Debt ≤ 1 year
€976,863▲
2023 · €892,119
Debt > 1 year
€226,152▲
2023 · €10,000
Income taxes
€3,126▲
2023 · €66
Staff costs
€703,468▼
2023 · €975,845
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.04m | €0 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €1.1m | €1.0m | €1.0m | €0.7m | ▼ 27.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.04m | €0.03m | €0.03m | €0.03m | €0.03m | €0.007m | €0.006m | ▼ 17.4% |
| Other operating charges640/8 | - | - | - | €0.002m | €0.05m | €0.007m | €0.03m | ▲ 402% |
| Non-recurring operating charges66A | - | - | - | €0.005m | €0 | - | - | - |
| Gross operating margin9900 | €1.9m | €1.9m | €1.4m | €1.1m | €0.9m | €1.0m | €0.6m | ▼ 45.6% |
| Operating profit (loss)9901 | €0.06m | €0.06m | €0.006m | -€0.06m | -€0.1m | €0.03m | -€0.2m | - |
| Financial income75/76B | - | - | - | €50 | €99 | €302 | €0 | ▼ 100% |
| Recurring financial income75 | €0.005m | €0.003m | €0.004m | €50 | €99 | €302 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €0.03m | €0.05m | €0.07m | €0.04m | ▼ 46.7% |
| Recurring financial charges65 | €0.04m | €0.04m | €0.03m | €0.03m | €0.05m | €0.07m | €0.04m | ▼ 46.7% |
| Profit (loss) for the period before taxes9903 | €0.02m | €0.03m | -€0.02m | -€0.09m | -€0.2m | -€0.04m | -€0.2m | ▼ 433% |
| Income taxes67/77 | €0.02m | €0.03m | €0.05m | €0.01m | €0 | €66 | €0.003m | ▲ 47× |
| Profit (loss) for the period9904 | €0.003m | -€0.001m | -€0.07m | -€0.1m | -€0.2m | -€0.04m | -€0.2m | ▼ 439% |
| Profit (loss) for the period to be appropriated9905 | €0.003m | -€0.001m | -€0.07m | -€0.1m | -€0.2m | -€0.04m | -€0.2m | ▼ 439% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.3m | €6.0m | €1.1m | €1.3m | €1.2m | €0.6m | €0.6m | ▲ 12.9% |
| Fixed assets21/28 | €0.7m | €0.7m | €0.6m | €0.6m | €0.6m | €0.02m | €0.02m | ▲ 9.8% |
| Intangible fixed assets21 | €0.005m | €0.003m | €0.01m | €0.007m | €0.005m | €0.003m | €0.001m | ▼ 69.3% |
| Tangible fixed assets22/27 | €0.7m | €0.6m | €0.6m | €0.6m | €0.6m | €0.01m | €0.01m | ▲ 10.2% |
| Land and buildings22 | - | - | - | €0.6m | €0.6m | €0 | - | - |
| Plant, machinery and equipment23 | - | - | - | €0.004m | €0.006m | €0 | €0.002m | - |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.02m | €0.01m | €0.01m | ▼ 6.0% |
| Financial fixed assets28 | €0.001m | €0.001m | €0.002m | €0.002m | €0.003m | €0.001m | €0.004m | ▲ 191% |
| Current assets29/58 | €0.6m | €5.4m | €0.5m | €0.7m | €0.6m | €0.5m | €0.6m | ▲ 13.0% |
| Amounts receivable within one year40/41 | €0.6m | €5.3m | €0.4m | €0.6m | €0.6m | €0.5m | €0.6m | ▲ 14.5% |
| Trade receivables40 | - | - | - | €0.6m | €0.5m | €0.4m | €0.6m | ▲ 27.9% |
| Other amounts receivable41 | - | - | - | €0.07m | €0.09m | €0.06m | €0.007m | ▼ 87.7% |
| Current investments50/53 | - | €0.008m | €0 | €0 | €0 | €0 | - | - |
| Cash at bank and in hand54/58 | €0.01m | €0.04m | €0.04m | €0.02m | €0 | €0.02m | €0.02m | ▼ 17.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.01m | €0.02m | €0.03m | ▲ 13.6% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.3m | €6.0m | €1.1m | €1.3m | €1.2m | €0.6m | €0.6m | ▲ 12.9% |
| Equity10/15 | €0.04m | €0.04m | -€0.03m | -€0.1m | -€0.3m | -€0.3m | -€0.6m | ▼ 65.8% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0 | ▼ 100% |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0 | ▼ 100% |
| Tax-exempt reserves132 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Distributable reserves133 | - | - | - | €0.005m | €0.005m | €0.005m | €0.007m | ▲ 42.9% |
| Profit (loss) carried forward14 | €0.005m | €0.004m | -€0.06m | -€0.2m | -€0.3m | -€0.4m | -€0.6m | ▼ 60.1% |
| Amounts payable17/49 | €1.2m | €6.0m | €1.1m | €1.4m | €1.5m | €0.9m | €1.2m | ▲ 33.4% |
| Amounts payable after more than one year17 | €0.4m | €0.4m | €0.4m | €0.3m | €0.3m | €0.01m | €0.2m | ▲ 23× |
| Financial debts170/4 | - | - | - | €0.3m | €0.3m | €0 | €0.2m | - |
| Other amounts payable178/9 | - | - | - | - | €0.01m | €0.01m | €0.01m | = |
| Amounts payable within one year42/48 | €0.8m | €5.6m | €0.8m | €1.1m | €1.2m | €0.9m | €1.0m | ▲ 9.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.1m | €0.1m | €0 | €0.03m | - |
| Financial debts43 | - | - | - | €0.4m | €0.3m | €0.3m | €0.3m | ▲ 8.3% |
| Credit institutions430/8 | - | - | - | €0.4m | €0.09m | €0.3m | €0.3m | ▲ 8.3% |
| Other loans439 | - | - | - | - | €0.3m | €0 | - | - |
| Trade debts44 | €0.3m | €0.4m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 10.8% |
| Suppliers440/4 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 10.8% |
| Advances received on contracts in progress46 | - | - | - | - | €0.001m | €0 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.2m | €0.3m | €0.3m | €0.2m | ▼ 5.0% |
| Taxes450/3 | - | - | - | €0.04m | €0.1m | €0.1m | €0.08m | ▼ 19.5% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 5.0% |
| Other amounts payable47/48 | - | - | - | €0.05m | €0.04m | €0.04m | €0.05m | ▲ 17.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,429 | -€769 | -€67,724 | -€100,417 | -€174,738 | -€42,539 | -€229,352 | ▼ 439% |
| + Depreciation and write-downs630 | €35,716 | €33,079 | €33,710 | €32,884 | €29,581 | €6,977 | €5,763 | ▼ 17.4% |
| Operating cash flow (approximation) | €39,145 | €32,310 | -€34,014 | -€67,533 | -€145,157 | -€35,562 | -€223,589 | ▼ 529% |
| Investment in fixed assets (approximation) | - | -€19,798 | -€9,486 | -€5,393 | -€15,579 | €561,433 | -€7,388 | - |
| Change in cash | - | €30,644 | -€3,695 | -€21,307 | -€19,067 | €23,905 | -€4,205 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 12 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2024 | abbreviated format | 11-07-2025 | 2025-00258161 |
| 31-12-2023 | abbreviated format | 12-06-2024 | 2024-00125551 |
| 31-12-2022 | abbreviated format | 01-09-2023 | 2023-00414441 |
| 31-12-2021 | abbreviated format | 26-08-2022 | 2022-20323209 |
| 31-12-2020 | abbreviated format | 31-08-2021 | 2021-66100536 |
| 31-12-2019 | abbreviated format | 30-10-2020 | 2020-66900150 |
| 31-12-2018 | abbreviated format | 31-07-2019 | 2019-44100084 |
| 31-12-2017 | micro format | 31-08-2018 | 2018-62300555 |
| 31-12-2016 | micro format | 30-06-2017 | 2017-25400209 |
| 31-12-2015 | abbreviated format | 30-06-2016 | 2016-25700259 |
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Of the 11,530 active companies whose main activity is engineering and related technical consultancy, excluding land surveyors (NACE 71121), figures are known for 6,772. 1,319 are within a factor 10 of this headcount. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.