TSAAR
Open bankruptcyA bankruptcy procedure is open for TSAAR according to publications in the Belgian State Gazette; curator: JEAN HENDRICKX.
Summary
The file additionally contains 1 administrative flag. The 2024 annual accounts show negative equity (-€144,420) and a net result of -€211,147.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- Enterprise Court of Antwerp, Antwerp division
- Declared bankrupt
- 2 April 2026
- Supervising judge
- Marc Dierckx
- Official Gazette
- 09-04-2026 (pdf) ↗search the document for 2026/115530
Deadlines
- Provisional date payments stopped
- 2 April 2026A later judgment can change the date.art. XX.105 CEL
- Appeal or third-party opposition until
- passed on 24 April 2026Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 2 May 2026art. XX.104 and XX.155 CEL
- First verification report
- passed on 29 May 2026Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Late claim until
- 2 April 2027Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Jean HendrickxLange Lozanastraat 24, 2018 Antwerpen 1jean.hendrickx@thales.be
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help.Creditor guide for this company
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
2021222324
2020 to 2024 · latest year -€144,420
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 25-06-2025, 36 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
36 d early
2023
9 d early
2022
7 d late
2021
44 d early
2020
38 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 24 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 36% of the sector filed late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Address struck
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Is the registered address a letterbox address or a business centre?Addresses Are there other customers at risk in your own list?List enrichment How is the Logistics services sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Equity
-€144,420
2023 · €66,727
Total assets
€318,373▼ 52.3%
2023 · €666,829
Net result
-€211,147
2023 · €552
Working capital
-€111,682
2023 · €87,559
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 52, Warehousing and support activities for transportation, 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€68,309-€38,791▼ 43.2%€29,863▼ 23.0%€16,927▼ 43.3%-€189,528
Net result€53,642above the sector's middle half-€29,947within the sector's middle half▼ 44.2%€18,564within the sector's middle half▼ 38.0%€552within the sector's middle half▼ 97.0%-€211,147below the sector's middle half
Equity€36,817within the sector's middle half-€47,611within the sector's middle half▲ 29.3%€66,175within the sector's middle half▲ 39.0%€66,727below the sector's middle half▲ 0.8%-€144,420below the sector's middle half
Total assets€79,224within the sector's middle half-€133,138within the sector's middle half▲ 68.1%€477,040within the sector's middle half▲ 258%€666,829within the sector's middle half▲ 39.8%€318,373within the sector's middle half▼ 52.3%
Debt€42,407-€85,527▲ 102%€410,865▲ 380%€600,102▲ 46.1%€462,793▼ 22.9%
Working capital€31,543within the sector's middle half-€32,390within the sector's middle half▲ 2.7%€99,099above the sector's middle half▲ 206%€87,559within the sector's middle half▼ 11.6%-€111,682below the sector's middle half
Solvency46.5%within the sector's middle half-35.8%within the sector's middle half▼ 10.7pp13.9%within the sector's middle half▼ 21.9pp10.0%below the sector's middle half▼ 3.9pp-45.4%below the sector's middle half▼ 55.4pp
Current ratio2.02within the sector's middle half-1.48within the sector's middle half▼ 0.541.34within the sector's middle half▼ 0.141.19within the sector's middle half▼ 0.150.66below the sector's middle half▼ 0.53
Return on assets (ROA)67.7%above the sector's middle half-22.5%above the sector's middle half▼ 45.2pp3.9%within the sector's middle half▼ 18.6pp0.1%within the sector's middle half▼ 3.8pp-66.3%below the sector's middle half▼ 66.4pp
Staff (FTE)0.31.5▲ 400%6.4within the sector's middle half▲ 327%5.4▼ 15.6%
above
within
below
the middle half (P25 to P75) of NACE 52, Warehousing and support activities for transportation, each year against the same schema; no band under 30 filings.
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 turns negative in 2024: a loss of €189,528 after €16,927 in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €318,373
Fixed assets
€98,428 ▼ 20.6%
Current assets
€219,944 ▼ 59.5%
Key figures and ratios
EBITDA
-€162,789▼
2023 · €36,745
Cash flow
-€184,408▼
2023 · €20,370
Debt to equity
-3.20▼
2023 · 8.99
Interest coverage
-7.61▼
2023 · 4.21
Debt ≤ 1 year
€331,626▼
2023 · €455,363
Debt > 1 year
€131,167▼
2023 · €144,739
Income taxes
€239▼
2023 · €7,649
Staff costs
€209,649▼
2023 · €281,732
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €11,054 | €72,514 | €281,732 | €209,649 | ▼ 25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,961 | €11,330 | €18,259 | €19,818 | €26,739 | ▲ 34.9% |
| Other operating charges640/8 | - | €3,646 | €24,003 | €14,893 | €39,394 | ▲ 165% |
| Gross operating margin9900 | €75,880 | €64,820 | €144,640 | €333,370 | €86,254 | ▼ 74.1% |
| Operating profit (loss)9901 | €68,309 | €38,791 | €29,863 | €16,927 | -€189,528 | ▼ 1,220% |
| Financial income75/76B | - | - | €5 | - | €1 | - |
| Recurring financial income75 | €0 | - | €5 | - | €1 | - |
| Financial charges65/66B | - | €1,803 | €6,648 | €8,725 | €21,382 | ▲ 145% |
| Recurring financial charges65 | €936 | €1,803 | €6,648 | €8,725 | €21,382 | ▲ 145% |
| Profit (loss) for the period before taxes9903 | €67,373 | €36,987 | €23,220 | €8,202 | -€210,908 | ▼ 2,671% |
| Income taxes67/77 | €13,732 | €7,040 | €4,656 | €7,649 | €239 | ▼ 96.9% |
| Profit (loss) for the period9904 | €53,642 | €29,947 | €18,564 | €552 | -€211,147 | ▼ 38,317% |
| Profit (loss) for the period to be appropriated9905 | €53,642 | €29,947 | €18,564 | €552 | -€211,147 | ▼ 38,317% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €79,224 | €133,138 | €477,040 | €666,829 | €318,373 | ▼ 52.3% |
| Fixed assets21/28 | €16,865 | €33,085 | €88,766 | €123,908 | €98,428 | ▼ 20.6% |
| Tangible fixed assets22/27 | €16,865 | €33,085 | €88,766 | €123,908 | €98,428 | ▼ 20.6% |
| Plant, machinery and equipment23 | - | - | €36,000 | €35,090 | €29,176 | ▼ 16.9% |
| Furniture and vehicles24 | - | €9,809 | €34,781 | €76,124 | €61,849 | ▼ 18.8% |
| Leasing and similar rights25 | - | €23,276 | €17,985 | €12,694 | €7,403 | ▼ 41.7% |
| Current assets29/58 | €62,359 | €100,053 | €388,274 | €542,921 | €219,944 | ▼ 59.5% |
| Amounts receivable within one year40/41 | €31,220 | €73,053 | €180,426 | €492,246 | €203,454 | ▼ 58.7% |
| Trade receivables40 | - | €73,053 | €171,382 | €421,988 | €99,745 | ▼ 76.4% |
| Other amounts receivable41 | - | - | €9,043 | €70,258 | €103,710 | ▲ 47.6% |
| Cash at bank and in hand54/58 | €30,301 | €23,343 | €205,356 | €48,650 | €14,713 | ▼ 69.8% |
| Deferred charges and accrued income490/1 | - | €3,658 | €2,492 | €2,025 | €1,777 | ▼ 12.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €79,224 | €133,138 | €477,040 | €666,829 | €318,373 | ▼ 52.3% |
| Equity10/15 | €36,817 | €47,611 | €66,175 | €66,727 | -€144,420 | ▼ 316% |
| Contributions10/11 | - | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Reserves13 | €34,317 | €45,111 | €63,675 | €64,227 | €64,227 | = |
| Distributable reserves133 | - | €45,111 | €63,675 | €64,227 | €64,227 | = |
| Profit (loss) carried forward14 | - | - | - | - | -€211,147 | - |
| Amounts payable17/49 | €42,407 | €85,527 | €410,865 | €600,102 | €462,793 | ▼ 22.9% |
| Amounts payable after more than one year17 | €11,591 | €17,864 | €121,690 | €144,739 | €131,167 | ▼ 9.4% |
| Financial debts170/4 | - | €17,864 | €121,690 | €144,739 | €131,167 | ▼ 9.4% |
| Amounts payable within one year42/48 | €30,816 | €67,663 | €289,175 | €455,363 | €331,626 | ▼ 27.2% |
| Current portion of amounts payable after more than one year42 | - | €15,479 | €17,285 | €16,412 | €13,573 | ▼ 17.3% |
| Trade debts44 | €3,473 | €12,629 | €162,210 | €165,918 | €151,894 | ▼ 8.5% |
| Suppliers440/4 | - | €12,629 | €162,210 | €165,918 | €151,894 | ▼ 8.5% |
| Taxes, remuneration and social security45 | - | €39,555 | €109,680 | €250,751 | €149,137 | ▼ 40.5% |
| Taxes450/3 | - | €39,555 | €104,636 | €201,076 | €136,518 | ▼ 32.1% |
| Remuneration and social security454/9 | - | - | €5,044 | €49,675 | €12,620 | ▼ 74.6% |
| Other amounts payable47/48 | - | - | - | €22,281 | €17,022 | ▼ 23.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €53,642 | €29,947 | €18,564 | €552 | -€211,147 | ▼ 38,317% |
| + Depreciation and write-downs630 | €6,961 | €11,330 | €18,259 | €19,818 | €26,739 | ▲ 34.9% |
| Operating cash flow (approximation) | €60,602 | €41,277 | €36,823 | €20,370 | -€184,408 | ▼ 1,005% |
| Investment in fixed assets (approximation) | - | -€27,549 | -€73,941 | -€54,959 | -€1,260 | ▲ 97.7% |
| Change in cash | - | -€6,959 | €182,013 | -€156,706 | -€33,937 | ▲ 78.3% |
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
2026
10-08
KBO administration
Address struck
09-04
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 02-04-2026
2025
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€211,147
Net result drops to -€211,147, the lowest in the series.
22-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
07-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 7 days late
2022
17-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
23-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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 · 1 establishment unit since 2020
Ground area
819 m²
Building footprint
236 m²
Volume, LiDAR
5,927 m³
Parcel 11808H1236/00R003, Flanders · tallest building 28.3 m, ±8 floors. Linked by address, not a title deed.
101
companies at this address
See who is registered here
1 establishment unit
TSAAR
since 20202.302.593.423
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11808H1236/00R003 | Flanders | 819 m² | 1 · 236 m² | 28.3 m · 8 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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | JEAN HENDRICKX LANGE LOZANASTRAAT 24,
2018 ANTWERPEN 1 |
02-04-2026 → present |
Structure & network
Owners and holdings
1 ownerOwners 1
- Nikolai Nikolaievitch Gnidenkonatural personSourceown accounts 2023100%
Holdings 0
The accounts to 31-12-2023 list no holdings, and no other source names one.
According to the 2023 annual accounts of TSAAR and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 22,410 EUR awarded · 22,410 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | -3,825 EUR | 8,675 EUR |
| 2024 | 1 | 1,235 EUR | 1,235 EUR |
| 2022 | 1 | 25,000 EUR | 12,500 EUR |
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Of 3,187 companies in sector 52250 we hold annual accounts for 1,963. 1,239 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
Founded03-02-2020
Fiscal year end31-12
Activities, NACEBEL 2025
52250Logistics services
52241Warehousing and support activities for transportation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0742835205
Also
9925:BE0742835205
Registered
09-01-2026
The company is no longer active; its Peppol card can remain until its access point withdraws it.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.