TSE CONSULT
ActiveSummary
TSE CONSULT has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €400,858 and a net result of €90,367. Equity is growing by ~7.4% per year across the filed fiscal years. Its solvency ranks better than 35% of 9557 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability79▲+14
Solvency63▲+19
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity short (current ratio 0.02 against 0.44 in 2024; short-term debt: 55.3% and cash: 0.1% of total assets), and 62% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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
38%
Return on assets
8.6%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 16-01-2026, 15 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
15 d early
2024
4 d early
2023
28 d early
2022
27 d early
2021
19 d early
2020
59 d early
2019
9 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 23 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 12 January (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, micro schema
Equity
€400,858▲ 29.1%
2024 · €310,491
Total assets
€1.1m▼ 34.6%
2024 · €1.6m
Net result
€90,367▼ 19.2%
2024 · €111,892
Working capital
-€569,789▲ 18.8%
2024 · -€701,814
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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
Line20212022202320242025
Operating result€13,107€3,690▼ 71.8%€40,983▲ 1,011%€162,760▲ 297%€130,726▼ 19.7%
Net result€4,042within the sector's middle half-€7,935below the sector's middle half€14,748within the sector's middle half€111,892above the sector's middle half▲ 659%€90,367above the sector's middle half▼ 19.2%
Equity€191,786above the sector's middle half▲ 2.2%€183,851above the sector's middle half▼ 4.1%€198,599above the sector's middle half▲ 8.0%€310,491above the sector's middle half▲ 56.3%€400,858above the sector's middle half▲ 29.1%
Total assets€1.2mabove the sector's middle half▲ 22.8%€1.2mabove the sector's middle half▲ 4.1%€1.5mabove the sector's middle half▲ 20.8%€1.6mabove the sector's middle half▲ 9.9%€1.1mabove the sector's middle half▼ 34.6%
Debt€974,203▲ 27.9%€1.0m▲ 5.7%€1.3m▲ 23.1%€1.3m▲ 2.7%€653,272▼ 49.8%
Working capital-€495,632below the sector's middle half=-€515,448below the sector's middle half▼ 4.0%-€515,380below the sector's middle half=-€701,814below the sector's middle half▼ 36.2%-€569,789below the sector's middle half▲ 18.8%
Solvency16.4%below the sector's middle half▼ 3.3pp15.1%below the sector's middle half▼ 1.3pp13.5%below the sector's middle half▼ 1.6pp19.3%below the sector's middle half▲ 5.7pp38.0%within the sector's middle half▲ 18.8pp
Current ratio0.35below the sector's middle half▲ 0.340.41below the sector's middle half▲ 0.060.56below the sector's middle half▲ 0.150.44below the sector's middle half▼ 0.120.02below the sector's middle half▼ 0.41
Return on assets (ROA)0.3%below the sector's middle half▲ 5.6pp-0.7%below the sector's middle half▼ 1.0pp1.0%below the sector's middle half▲ 1.7pp6.9%within the sector's middle half▲ 5.9pp8.6%within the sector's middle half▲ 1.6pp
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 20% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€1.0m ▼ 2.6%
Current assets
€12,769 ▼ 97.6%
Equity and liabilities €1.1m
Equity
€400,858 ▲ 29.1%
Debt
€653,272 ▼ 49.8%
Debt's share of the balance-sheet total falls from 80.7% to 62.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€164,810▼
2024 · €199,044
Cash flow
€124,451▼
2024 · €148,176
Debt to equity
1.63▼
2024 · 4.19
ROE
22.5%▼
2024 · 36.0%
Interest coverage
22.37▲
2024 · 4.47
Debt ≤ 1 year
€582,557▼
2024 · €1.2m
Debt > 1 year
€69,787▲
2024 · €56,012
Income taxes
€32,990▲
2024 · €6,300
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,810 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
3.1%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 17,810 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €6,179 | - | - | €18,233 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,159 | €38,515 | €36,284 | €36,284 | €34,084 | ▼ 6.1% |
| Other operating charges640/8 | - | €7,090 | €7,161 | €8,398 | €8,515 | ▲ 1.4% |
| Gross operating margin9900 | €50,147 | €49,296 | €84,428 | €207,442 | €173,325 | ▼ 16.4% |
| Operating profit (loss)9901 | €13,107 | €3,690 | €40,983 | €162,760 | €130,726 | ▼ 19.7% |
| Financial income75/76B | - | - | €3 | €2 | - | - |
| Recurring financial income75 | €501 | - | €3 | €2 | - | - |
| Financial charges65/66B | - | €11,054 | €25,657 | €44,570 | €7,369 | ▼ 83.5% |
| Recurring financial charges65 | €9,565 | €11,054 | €25,657 | €44,570 | €7,369 | ▼ 83.5% |
| Profit (loss) for the period before taxes9903 | €4,042 | -€7,364 | €15,329 | €118,192 | €123,357 | ▲ 4.4% |
| Income taxes67/77 | - | €571 | €580 | €6,300 | €32,990 | ▲ 424% |
| Profit (loss) for the period9904 | €4,042 | -€7,935 | €14,748 | €111,892 | €90,367 | ▼ 19.2% |
| Profit (loss) for the period to be appropriated9905 | €4,042 | -€7,935 | €14,748 | €111,892 | €90,367 | ▼ 19.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €1.2m | €1.5m | €1.6m | €1.1m | ▼ 34.6% |
| Fixed assets21/28 | €894,637 | €857,171 | €820,887 | €1.1m | €1.0m | ▼ 2.6% |
| Tangible fixed assets22/27 | €894,437 | €856,971 | €820,687 | €1.1m | €1.0m | ▼ 2.6% |
| Land and buildings22 | - | €836,326 | €810,120 | €1.1m | €1.0m | ▼ 2.7% |
| Furniture and vehicles24 | - | €20,645 | €10,567 | €489 | €1,311 | ▲ 168% |
| Financial fixed assets28 | €200 | €200 | €200 | €200 | €200 | = |
| Current assets29/58 | €271,352 | €356,671 | €645,349 | €542,413 | €12,769 | ▼ 97.6% |
| Stocks and contracts in progress3 | €236,000 | €353,777 | €637,459 | - | - | - |
| Stocks30/36 | - | €353,777 | €637,459 | - | - | - |
| Amounts receivable within one year40/41 | €32,376 | €1,220 | €5,975 | €540,405 | €9,286 | ▼ 98.3% |
| Trade receivables40 | - | €1,220 | €5,975 | €5,188 | €9,286 | ▲ 79.0% |
| Other amounts receivable41 | - | - | - | €535,217 | - | - |
| Cash at bank and in hand54/58 | €1,404 | - | - | - | €977 | - |
| Deferred charges and accrued income490/1 | - | €1,674 | €1,915 | €2,008 | €2,506 | ▲ 24.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €1.2m | €1.5m | €1.6m | €1.1m | ▼ 34.6% |
| Equity10/15 | €191,786 | €183,851 | €198,599 | €310,491 | €400,858 | ▲ 29.1% |
| Contributions10/11 | - | €256,200 | €256,200 | €256,200 | €256,200 | = |
| Reserves13 | €6,370 | €6,370 | €6,370 | €6,370 | €6,370 | = |
| Non-distributable reserves130/1 | - | €6,370 | €6,370 | €6,370 | €6,370 | = |
| Reserves not available under the articles1311 | - | €6,370 | €6,370 | €6,370 | €6,370 | = |
| Profit (loss) carried forward14 | -€70,784 | -€78,719 | -€63,971 | €47,921 | €138,288 | ▲ 189% |
| Amounts payable17/49 | €974,203 | €1.0m | €1.3m | €1.3m | €653,272 | ▼ 49.8% |
| Amounts payable after more than one year17 | €206,419 | €157,036 | €106,908 | €56,012 | €69,787 | ▲ 24.6% |
| Financial debts170/4 | - | €157,036 | €106,908 | €56,012 | €69,787 | ▲ 24.6% |
| Amounts payable within one year42/48 | €766,984 | €872,119 | €1.2m | €1.2m | €582,557 | ▼ 53.2% |
| Current portion of amounts payable after more than one year42 | - | €49,382 | €50,128 | €50,896 | €70,805 | ▲ 39.1% |
| Financial debts43 | - | €342,522 | €597,972 | €612,173 | - | - |
| Credit institutions430/8 | - | €342,522 | €597,972 | €612,173 | - | - |
| Trade debts44 | €7,814 | €19,050 | €16,707 | €42,568 | €7,871 | ▼ 81.5% |
| Suppliers440/4 | - | €19,050 | €16,707 | €42,568 | €7,871 | ▼ 81.5% |
| Taxes, remuneration and social security45 | - | €6,222 | €7,073 | €18,039 | €41,431 | ▲ 130% |
| Taxes450/3 | - | €6,222 | €7,073 | €18,039 | €41,431 | ▲ 130% |
| Other amounts payable47/48 | - | €454,943 | €488,849 | €520,551 | €462,450 | ▼ 11.2% |
| Accrued charges and deferred income492/3 | - | €836 | - | €1,319 | €928 | ▼ 29.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,042 | -€7,935 | €14,748 | €111,892 | €90,367 | ▼ 19.2% |
| + Depreciation and write-downs630 | €29,159 | €38,515 | €36,284 | €36,284 | €34,084 | ▼ 6.1% |
| Operating cash flow (approximation) | €33,201 | €30,580 | €51,033 | €148,176 | €124,451 | ▼ 16.0% |
| Investment in fixed assets (approximation) | - | -€1,049 | €0 | -€285,033 | -€5,810 | ▲ 98.0% |
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
2026
16-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
27-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Highest result since 2019net €111,892 ▲659%
Operating result €162,760, net result €111,892, both a record.
30-06
Financial
Equity above €200,000Eq €310,491 ▲56.3%
2 profitable years in a row build equity to €310,491.
03-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Back to profitnet €14,748
Net result €14,748 after one loss-making year.
04-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
12-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Back to profitnet €4,042
Net result €4,042 after 2 loss-making years.
2020
03-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
22-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
23-11
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
11-12
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
19-12
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Gembloux · 1 establishment unit since 2010
Ground area
1,039 m²
Building footprint
139 m²
Parcel 92011C0095/00L002, Wallonia. Linked by address, not a title deed.
1 establishment unit
TSE Consult
since 20102.186.236.577
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92011C0095/00L002 | Wallonia | 1,039 m² | 1 · 139 m² | - |
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 11,577 companies in sector 71121 we hold annual accounts for 6,570. 4,653 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
Founded05-03-2010
Fiscal year end30-06
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
E-invoicing
Reachable via Peppol
Peppol ID
0208:0823670352
Also
9925:BE0823670352
Registered
08-07-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.