TSAND
ActiveSummary
The computed 12-month bankruptcy probability of TSAND is 3.6% (moderate). The 2025 annual accounts show equity of €86k and a net result of €27k. Equity is growing by ~38.4% per year across the filed fiscal years. Its solvency ranks better than 88% of 13417 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability98▼-1
Solvency100▲+7
Growth52=
Track record94
Bankruptcy probability, 12 months
3.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 3.97 against 3.09 in 2024; short-term debt: 23.2% and cash: 49.7% of total assets), and 23.8% of the assets are financed with debt.
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Signals
Four 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 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
76.2%
Return on assets
23.5%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 04-06-2026, 57 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
57 d early
2024
2 d early
2023
21 d early
← 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, micro schema
Equity
€86k▲ 44.6%
2024 · €60k
Total assets
€113k▲ 29.7%
2024 · €87k
Net result
€27k▲ 27.5%
2024 · €21k
Working capital
€78k▲ 40.9%
2024 · €55k
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
Line202320242025
Operating result€52k-€29k▼ 44.7%€35k▲ 23.9%
Net result€37k-€21k▼ 43.7%€27k▲ 27.5%
Equity€40k-€60k▲ 47.5%€86k▲ 44.6%
Total assets€67k-€87k▲ 29.4%€113k▲ 29.7%
Debt€27k-€28k▲ 2.2%€27k▼ 2.7%
Working capital€33k-€55k▲ 67.4%€78k▲ 40.9%
Staff (FTE)0.7-1.2▲ 71.4%0.2▼ 83.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 24% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €113k
Fixed assets
€9k ▲ 63.4%
Current assets
€104k ▲ 27.4%
Equity and liabilities €113k
Equity
€86k ▲ 44.6%
Debt
€27k ▼ 2.7%
Debt's share of the balance-sheet total falls from 31.7% to 23.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€39k▲
2024 · €31k
Cash flow
€30k▲
2024 · €24k
Current ratio
3.97▲
2024 · 3.09
Quick ratio
3.88▲
2024 · 3.05
Debt to equity
0.31▼
2024 · 0.46
ROE
30.9%▼
2024 · 35.0%
ROA
23.5%▼
2024 · 23.9%
Interest coverage
22.60▲
2024 · 14.90
Debt ≤ 1 year
€26k▼
2024 · €26k
Income taxes
€7k▲
2024 · €6k
Staff costs
€7k▼
2024 · €40k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €28k | €40k | €7k | ▼ 83.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €3k | €3k | ▲ 11.5% |
| Other operating charges640/8 | €3k | €3k | €3k | ▲ 0.5% |
| Gross operating margin9900 | €85k | €74k | €48k | ▼ 35.0% |
| Operating profit (loss)9901 | €52k | €29k | €35k | ▲ 23.9% |
| Financial income75/76B | €19 | €114 | €0 | ▼ 99.8% |
| Recurring financial income75 | €19 | €114 | €0 | ▼ 99.8% |
| Financial charges65/66B | €2k | €2k | €2k | ▼ 19.0% |
| Recurring financial charges65 | €2k | €2k | €2k | ▼ 19.0% |
| Profit (loss) for the period before taxes9903 | €50k | €27k | €34k | ▲ 26.8% |
| Income taxes67/77 | €13k | €6k | €7k | ▲ 24.4% |
| Profit (loss) for the period9904 | €37k | €21k | €27k | ▲ 27.5% |
| Profit (loss) for the period to be appropriated9905 | €37k | €21k | €27k | ▲ 27.5% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €67k | €87k | €113k | ▲ 29.7% |
| Formation expenses20 | €175 | - | - | - |
| Fixed assets21/28 | €8k | €5k | €9k | ▲ 63.4% |
| Tangible fixed assets22/27 | €8k | €5k | €9k | ▲ 66.1% |
| Plant, machinery and equipment23 | €7k | €5k | €6k | ▲ 24.5% |
| Furniture and vehicles24 | €749 | €416 | €3k | ▲ 550% |
| Financial fixed assets28 | - | €225 | €225 | = |
| Current assets29/58 | €59k | €82k | €104k | ▲ 27.4% |
| Stocks and contracts in progress3 | €750 | €1k | €3k | ▲ 138% |
| Stocks30/36 | €750 | €1k | €3k | ▲ 138% |
| Amounts receivable within one year40/41 | €895 | €24k | €43k | ▲ 78.2% |
| Trade receivables40 | €719 | €852 | €2k | ▲ 169% |
| Other amounts receivable41 | €176 | €23k | €41k | ▲ 74.8% |
| Cash at bank and in hand54/58 | €56k | €52k | €56k | ▲ 6.9% |
| Deferred charges and accrued income490/1 | €2k | €4k | €2k | ▼ 41.0% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €67k | €87k | €113k | ▲ 29.7% |
| Equity10/15 | €40k | €60k | €86k | ▲ 44.6% |
| Contributions10/11 | €5k | €5k | €5k | = |
| Reserves13 | €35k | €55k | €81k | ▲ 48.7% |
| Distributable reserves133 | €35k | €55k | €81k | ▲ 48.7% |
| Amounts payable17/49 | €27k | €28k | €27k | ▼ 2.7% |
| Amounts payable within one year42/48 | €26k | €26k | €26k | ▼ 0.9% |
| Trade debts44 | €5k | €6k | €14k | ▲ 117% |
| Suppliers440/4 | €5k | €6k | €14k | ▲ 117% |
| Taxes, remuneration and social security45 | €14k | €18k | €11k | ▼ 38.2% |
| Taxes450/3 | €9k | €9k | €7k | ▼ 28.6% |
| Remuneration and social security454/9 | €5k | €9k | €4k | ▼ 48.5% |
| Other amounts payable47/48 | €7k | €2k | €1k | ▼ 46.1% |
| Accrued charges and deferred income492/3 | €819 | €1k | €700 | ▼ 41.6% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €37k | €21k | €27k | ▲ 27.5% |
| + Depreciation and write-downs630 | €2k | €3k | €3k | ▲ 11.5% |
| Operating cash flow (approximation) | €39k | €24k | €30k | ▲ 25.5% |
| Investment in fixed assets (approximation) | - | €-400 | €-7k | ▼ 1,579% |
| Change in cash | - | €-3k | €4k | ▲ 210% |
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
04-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €21k ▼43.7%
Net result drops to €21k, the lowest in the series; recovery starts the following year.
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Blankenberge · 1 establishment unit since 2023
Ground area
70 m²
Building footprint
61 m²
Volume, LiDAR
777 m³
Parcel 31004A0255/00A000, Flanders · tallest building 15.9 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
TSAND
since 20232.343.588.492
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31004A0255/00A000 | Flanders | 70 m² | 1 · 61 m² | 15.9 m · 4 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteBlankenberge2.343.588.492
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Of 20,501 companies in sector 56111 we hold annual accounts for 11,452. 9,702 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
Founded30-03-2023
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
Scores and ratios are computed by Checked and are not a credit decision.