Tsedek
ActiveSummary
Tsedek has been active since 1974 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.7m and a net result of €98,768. Equity is growing by ~6.2% per year across the filed fiscal years. Its solvency ranks better than 63% of 465 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71▼-2
Solvency86▲+2
Growth67=
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €140,000 at 30 days acceptable
Liquidity ample (current ratio 4.59 against 4.75 in 2024; short-term debt: 8.7% and cash: 36.3% of total assets), and 39.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 87
Relative position
BE, all sectors
reference
Residential care activities (NACE 87)
about 77% 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
60.7%
Return on assets
3.4%
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 09-06-2026, 52 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
52 d early
2024
30 d early
2023
35 d early
2022
39 d early
2021
34 d early
2020
37 d early
2019
32 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 37 days before the deadline; the sector median for financial year 2024 is 27 days before the deadline, and 24% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€1.5m▲ 2.7%
2024 · €1.5m
EBIT margin
7.1%▼ 1.0pp
2024 · 8.1%
Net result
€98,768▼ 7.0%
2024 · €106,236
Working capital
€888,364▲ 12.1%
2024 · €792,663
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 87, Residential care activities, 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
Turnover€1.2m▼ 3.9%€1.3m▲ 11.6%€1.4m▲ 4.6%€1.5m▲ 5.6%€1.5m▲ 2.7%
Operating result-€6,889€171,976€84,768▼ 50.7%€117,507▲ 38.6%€106,343▼ 9.5%
Net result-€26,062below the sector's middle half€152,975within the sector's middle half€68,099within the sector's middle half▼ 55.5%€106,236within the sector's middle half▲ 56.0%€98,768within the sector's middle half▼ 7.0%
EBIT margin-0.6%▼ 12.3pp13.1%▲ 13.7pp6.2%▼ 6.9pp8.1%▲ 1.9pp7.1%▼ 1.0pp
Equity€1.3mwithin the sector's middle half▼ 1.9%€1.5mwithin the sector's middle half▲ 11.7%€1.5mwithin the sector's middle half▲ 4.7%€1.6mwithin the sector's middle half▲ 6.9%€1.7mwithin the sector's middle half▲ 6.0%
Total assets€2.8mwithin the sector's middle half▲ 0.2%€2.9mwithin the sector's middle half▲ 3.9%€3.0mwithin the sector's middle half▲ 2.5%€2.8mbelow the sector's middle half▼ 6.8%€2.9mwithin the sector's middle half▲ 2.8%
Debt€1.5m▲ 2.2%€1.4m▼ 3.0%€1.5m▲ 0.3%€1.1m▼ 21.2%€1.1m▼ 1.7%
Working capital€474,216▼ 3.5%€631,179▲ 33.1%€674,867▲ 6.9%€792,663▲ 17.5%€888,364▲ 12.1%
Solvency46.7%within the sector's middle half▼ 1.0pp50.3%within the sector's middle half▲ 3.5pp51.3%within the sector's middle half▲ 1.1pp58.9%within the sector's middle half▲ 7.5pp60.7%within the sector's middle half▲ 1.8pp
Staff (FTE)16below the sector's middle half▼ 2.4%15.7below the sector's middle half▼ 1.9%14.8below the sector's middle half▼ 5.7%15.2below the sector's middle half▲ 2.7%14.4below the sector's middle half▼ 5.3%
above
within
below
the middle half (P25 to P75) of NACE 87, Residential care activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 10% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.9m
Fixed assets
€1.7m ▼ 3.0%
Current assets
€1.1m ▲ 13.1%
Equity and liabilities €2.9m
Equity
€1.7m ▲ 6.0%
Debt
€1.1m ▼ 1.7%
Debt's share of the balance-sheet total falls from 41.1% to 39.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€172,201▼
2024 · €183,983
Cash flow
€164,626▼
2024 · €172,711
Current ratio
4.59▼
2024 · 4.75
Debt to equity
0.65▼
2024 · 0.70
ROE
5.7%▼
2024 · 6.5%
ROA
3.4%▼
2024 · 3.8%
Interest coverage
11.61▼
2024 · 11.74
Debt ≤ 1 year
€247,743▲
2024 · €211,453
Debt > 1 year
€877,904▼
2024 · €933,680
Staff costs
€1.2m▲
2024 · €1.2m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,684 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of < 0.1% 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 497,058 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% | 1.6% |
| 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 74% 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 14,684 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | €1.3m | €1.5m | €1.5m | €1.6m | €1.7m | ▲ 2.9% |
| Turnover70 | €1.2m | €1.3m | €1.4m | €1.5m | €1.5m | ▲ 2.7% |
| Other operating income74 | €14,244 | €7,876 | €19,020 | €12,296 | €17,261 | ▲ 40.4% |
| Non-recurring operating income76A | €23,785 | €46,296 | €28,337 | €21,986 | €6,113 | ▼ 72.2% |
| Operating charges60/66A | €1.3m | €1.3m | €1.5m | €1.5m | €1.6m | ▲ 3.9% |
| Goods for resale, raw materials and consumables60 | €36,424 | €37,250 | €42,748 | €43,447 | €51,999 | ▲ 19.7% |
| Purchases600/8 | €36,424 | €37,250 | €42,748 | €43,447 | €51,999 | ▲ 19.7% |
| Services and other goods61 | €128,261 | €140,632 | €194,274 | €161,874 | €200,707 | ▲ 24.0% |
| Remuneration, social security and pensions62 | €1.1m | €1.1m | €1.1m | €1.2m | €1.2m | ▲ 1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €63,042 | €63,501 | €65,432 | €66,475 | €65,858 | ▼ 0.9% |
| Other operating charges640/8 | €8,253 | €9,535 | €6,701 | €19,276 | €16,773 | ▼ 13.0% |
| Operating profit (loss)9901 | -€6,889 | €171,976 | €84,768 | €117,507 | €106,343 | ▼ 9.5% |
| Financial income75/76B | - | - | - | €4,581 | €7,443 | ▲ 62.5% |
| Recurring financial income75 | - | - | - | €4,581 | €7,443 | ▲ 62.5% |
| Income from current assets751 | - | - | - | €4,581 | €7,440 | ▲ 62.4% |
| Other financial income752/9 | - | - | - | - | €2 | - |
| Financial charges65/66B | €19,173 | €19,001 | €16,668 | €15,852 | €15,018 | ▼ 5.3% |
| Recurring financial charges65 | €18,282 | €18,606 | €16,668 | €15,852 | €15,018 | ▼ 5.3% |
| Debt charges650 | €18,106 | €17,894 | €16,493 | €15,667 | €14,829 | ▼ 5.4% |
| Other financial charges652/9 | €176 | €712 | €176 | €185 | €189 | ▲ 2.1% |
| Non-recurring financial charges66B | €891 | €395 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€26,062 | €152,975 | €68,099 | €106,236 | €98,768 | ▼ 7.0% |
| Profit (loss) for the period9904 | -€26,062 | €152,975 | €68,099 | €106,236 | €98,768 | ▼ 7.0% |
| Profit (loss) for the period to be appropriated9905 | -€26,062 | €152,975 | €68,099 | €106,236 | €98,768 | ▼ 7.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.8m | €2.9m | €3.0m | €2.8m | €2.9m | ▲ 2.8% |
| Fixed assets21/28 | €1.9m | €1.9m | €1.8m | €1.8m | €1.7m | ▼ 3.0% |
| Intangible fixed assets21 | - | - | - | - | €3,273 | - |
| Tangible fixed assets22/27 | €1.9m | €1.9m | €1.8m | €1.8m | €1.7m | ▼ 3.1% |
| Land and buildings22 | €1.9m | €1.9m | €1.8m | €1.8m | €1.7m | ▼ 2.9% |
| Plant, machinery and equipment23 | €13,094 | €9,086 | €5,283 | €1,894 | €670 | ▼ 64.6% |
| Furniture and vehicles24 | €19,477 | €16,241 | €13,005 | €9,770 | €6,534 | ▼ 33.1% |
| Current assets29/58 | €870,661 | €1.0m | €1.1m | €1.0m | €1.1m | ▲ 13.1% |
| Amounts receivable within one year40/41 | €296,287 | €518,875 | €342,309 | €213,006 | €84,214 | ▼ 60.5% |
| Trade receivables40 | €293,292 | €505,742 | €337,901 | €199,016 | €68,537 | ▼ 65.6% |
| Other amounts receivable41 | €2,995 | €13,133 | €4,408 | €13,990 | €15,677 | ▲ 12.1% |
| Cash at bank and in hand54/58 | €567,561 | €499,505 | €793,299 | €781,435 | €1.0m | ▲ 33.1% |
| Deferred charges and accrued income490/1 | €6,813 | €17,461 | €3,763 | €9,675 | €12,128 | ▲ 25.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.8m | €2.9m | €3.0m | €2.8m | €2.9m | ▲ 2.8% |
| Equity10/15 | €1.3m | €1.5m | €1.5m | €1.6m | €1.7m | ▲ 6.0% |
| Contributions10/11 | - | €512,799 | €512,799 | €512,799 | €512,799 | = |
| Capital10 | - | €512,799 | €512,799 | €512,799 | €512,799 | = |
| Reserves13 | €666,491 | €819,466 | €887,565 | €993,801 | €1.1m | ▲ 9.9% |
| Profit (loss) carried forward14 | €132,064 | €132,064 | €132,064 | €132,064 | €132,064 | = |
| Amounts payable17/49 | €1.5m | €1.4m | €1.5m | €1.1m | €1.1m | ▼ 1.7% |
| Amounts payable after more than one year17 | €1.1m | €1.0m | €988,595 | €933,680 | €877,904 | ▼ 6.0% |
| Financial debts170/4 | €1.1m | €1.0m | €988,595 | €933,680 | €877,904 | ▼ 6.0% |
| Other loans174 | €1.1m | €1.0m | €988,595 | €933,680 | €877,904 | ▼ 6.0% |
| Amounts payable within one year42/48 | €396,445 | €404,662 | €464,503 | €211,453 | €247,743 | ▲ 17.2% |
| Current portion of amounts payable after more than one year42 | €52,438 | €53,251 | €54,077 | €54,915 | €55,776 | ▲ 1.6% |
| Trade debts44 | €210,351 | €211,538 | €248,690 | €8,110 | €28,468 | ▲ 251% |
| Suppliers440/4 | €210,351 | €211,538 | €248,690 | €8,110 | €28,468 | ▲ 251% |
| Taxes, remuneration and social security45 | €133,655 | €134,441 | €146,867 | €148,428 | €161,567 | ▲ 8.9% |
| Taxes450/3 | €6,415 | €9,006 | €5,879 | €7,239 | €15,179 | ▲ 110% |
| Remuneration and social security454/9 | €127,240 | €125,436 | €140,989 | €141,190 | €146,388 | ▲ 3.7% |
| Accrued charges and deferred income492/3 | €1,500 | €1,707 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€26,062 | €152,975 | €68,099 | €106,236 | €98,768 | ▼ 7.0% |
| + Depreciation and write-downs630 | €63,042 | €63,501 | €65,432 | €66,475 | €65,858 | ▼ 0.9% |
| Operating cash flow (approximation) | €36,980 | €216,476 | €133,531 | €172,711 | €164,626 | ▼ 4.7% |
| Investment in fixed assets (approximation) | - | -€6,469 | -€34,059 | €0 | -€13,150 | - |
| Change in cash | - | -€68,056 | €293,793 | -€11,863 | €258,329 | ▲ 2,278% |
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
09-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
26-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €152,975
Net result €152,975 after one loss-making year.
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet -€26,062
Net result drops to -€26,062, the lowest in the series; recovery starts the following year.
24-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
20-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 15 acts read
About the unread acts
We know of 15 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
15 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 2006
Ground area
2,280 m²
Building footprint
392 m²
Volume, LiDAR
2,009 m³
Parcel 11364F0155/00V000, Flanders · tallest building 10.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Tsedek Centrum voor Psycho-Sociale Revalidatie
since 20062.155.626.149
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11364F0155/00V000 | Flanders | 2,280 m² | 1 · 392 m² | 10.1 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 11 entries · 1,692,702 EUR awarded · 1,692,702 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 1,596,286 EUR | 1,596,286 EUR |
| 2024 | 2 | 17,772 EUR | 17,772 EUR |
| 2023 | 4 | 46,625 EUR | 46,625 EUR |
| 2022 | 3 | 32,019 EUR | 32,019 EUR |
Schemes
Recognitions · licences · registrations
Care and welfare
2 servicesTSEDEK
Tsedek
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Of 106 companies in sector 87999 we hold annual accounts for 39. 24 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formNon-profit association
Founded07-11-1974
Fiscal year end31-12
Activities, NACEBEL 2025
87999Residential care activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0414565726
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.