TSHIBOSAB
ActiveSummary
TSHIBOSAB has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €331,451 and a net result of €9,769. Equity remains stable across the filed fiscal years (±1.3% per year). Its solvency ranks better than 83% of 14258 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▲+4
Solvency100=
Growth22▼-13
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity tight (current ratio 1.2 against 7.58 in 2024; short-term debt: 21% and cash: 3% of total assets), and 23% 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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
77%
Return on assets
2.3%
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 16-07-2026, 15 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
15 d early
2024
37 d early
2023
6 d late
2022
24 d late
2021
25 d late
2020
4 d early
2019
20 d late
← 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 3 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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. Usually files around 7 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€97,650▲ 18.8%
2024 · €82,188
EBIT margin
11.4%▲ 33.8pp
2024 · -22.4%
Net result
€9,769
2024 · -€13,905
Working capital
€17,879▼ 79.5%
2024 · €87,289
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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€337,159▲ 22.9%€217,881▼ 35.4%€180,704▼ 17.1%€82,188▼ 54.5%€97,650▲ 18.8%
Operating result€58,210▲ 7.6%€59,265▲ 1.8%€63,242▲ 6.7%-€18,434€11,105
Net result€41,098above the sector's middle half▲ 19.3%€35,346above the sector's middle half▼ 14.0%€42,721within the sector's middle half▲ 20.9%-€13,905below the sector's middle half€9,769within the sector's middle half
EBIT margin17.3%▼ 2.4pp27.2%▲ 9.9pp35.0%▲ 7.8pp-22.4%▼ 57.4pp11.4%▲ 33.8pp
Equity€587,551above the sector's middle half▲ 7.5%€539,171above the sector's middle half▼ 8.2%€566,892within the sector's middle half▲ 5.1%€455,113above the sector's middle half▼ 19.7%€331,451above the sector's middle half▼ 27.2%
Total assets€733,308within the sector's middle half▲ 1.0%€803,664within the sector's middle half▲ 9.6%€667,149within the sector's middle half▼ 17.0%€477,057within the sector's middle half▼ 28.5%€430,355within the sector's middle half▼ 9.8%
Debt€145,757▼ 19.0%€264,493▲ 81.5%€100,257▼ 62.1%€21,944▼ 78.1%€98,904▲ 351%
Working capital€178,171above the sector's middle half▲ 53.1%€149,384above the sector's middle half▼ 16.2%€151,264within the sector's middle half▲ 1.3%€87,289within the sector's middle half▼ 42.3%€17,879within the sector's middle half▼ 79.5%
Solvency80.1%above the sector's middle half▲ 4.9pp67.1%above the sector's middle half▼ 13.0pp85.0%above the sector's middle half▲ 17.9pp95.4%above the sector's middle half▲ 10.4pp77.0%above the sector's middle half▼ 18.4pp
Current ratio3.21above the sector's middle half▲ 0.961.66within the sector's middle half▼ 1.552.98above the sector's middle half▲ 1.327.58above the sector's middle half▲ 4.601.20within the sector's middle half▼ 6.38
Return on assets (ROA)5.6%within the sector's middle half▲ 0.9pp4.4%within the sector's middle half▼ 1.2pp6.4%above the sector's middle half▲ 2.0pp-2.9%below the sector's middle half▼ 9.3pp2.3%within the sector's middle half▲ 5.2pp
Staff (FTE)1=1=0.5within the sector's middle half▼ 50.0%
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, 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 returns to profit in 2025: €11,105 after a loss of €18,434 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €430,355
Fixed assets
€322,248 ▼ 14.4%
Current assets
€108,107 ▲ 7.5%
Equity and liabilities €430,355
Equity
€331,451 ▼ 27.2%
Debt
€98,904 ▲ 351%
Debt's share of the balance-sheet total rises from 4.6% to 23.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€64,357▲
2024 · €35,460
Cash flow
€63,021▲
2024 · €39,989
Debt to equity
0.30▲
2024 · 0.05
ROE
2.9%▲
2024 · -3.1%
Interest coverage
179.20▲
2024 · 61.07
Debt ≤ 1 year
€90,228▲
2024 · €13,268
Debt > 1 year
€7,500=
2024 · €7,500
Income taxes
€977▲
2024 · -€598
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,039 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
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 0.4% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 17,039 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €337,159 | €217,881 | €180,704 | €82,188 | €97,650 | ▲ 18.8% |
| Non-recurring operating income76A | - | - | - | €2,755 | - | - |
| Goods, raw materials, services and sundry goods60/61 | €177,653 | €57,374 | €39,374 | €35,045 | €22,082 | ▼ 37.0% |
| Remuneration, social security and pensions62 | €48,043 | €47,101 | €21,120 | €4,251 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €45,160 | €45,860 | €47,011 | €53,894 | €53,252 | ▼ 1.2% |
| Other operating charges640/8 | €8,094 | €8,282 | €9,957 | €10,186 | €11,212 | ▲ 10.1% |
| Gross operating margin9900 | €159,506 | €160,508 | €141,330 | €49,897 | €75,568 | ▲ 51.4% |
| Operating profit (loss)9901 | €58,210 | €59,265 | €63,242 | -€18,434 | €11,105 | ▲ 160% |
| Financial income75/76B | - | - | - | €4,511 | - | - |
| Recurring financial income75 | - | - | - | €4,511 | - | - |
| Financial charges65/66B | €3,271 | €2,474 | €1,592 | €581 | €359 | ▼ 38.2% |
| Recurring financial charges65 | €3,271 | €2,474 | €1,592 | €581 | €359 | ▼ 38.2% |
| Profit (loss) for the period before taxes9903 | €54,939 | €56,791 | €61,650 | -€14,503 | €10,746 | ▲ 174% |
| Income taxes67/77 | €13,841 | €21,445 | €18,929 | -€598 | €977 | ▲ 263% |
| Profit (loss) for the period9904 | €41,098 | €35,346 | €42,721 | -€13,905 | €9,769 | ▲ 170% |
| Profit (loss) for the period to be appropriated9905 | €41,098 | €35,346 | €42,721 | -€13,905 | €9,769 | ▲ 170% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €733,308 | €803,664 | €667,149 | €477,057 | €430,355 | ▼ 9.8% |
| Fixed assets21/28 | €474,407 | €428,547 | €439,558 | €376,500 | €322,248 | ▼ 14.4% |
| Tangible fixed assets22/27 | €474,007 | €428,147 | €438,558 | €375,500 | €322,248 | ▼ 14.2% |
| Land and buildings22 | €471,441 | €426,514 | €381,587 | €338,105 | €292,485 | ▼ 13.5% |
| Furniture and vehicles24 | €2,567 | €1,633 | €56,971 | €37,394 | €29,763 | ▼ 20.4% |
| Financial fixed assets28 | €400 | €400 | €1,000 | €1,000 | - | - |
| Current assets29/58 | €258,901 | €375,116 | €227,591 | €100,558 | €108,107 | ▲ 7.5% |
| Amounts receivable within one year40/41 | €232,624 | €342,449 | €206,294 | €88,000 | €88,000 | = |
| Trade receivables40 | €232,624 | €267,449 | €46,294 | - | €13,000 | - |
| Other amounts receivable41 | - | €75,000 | €160,000 | €88,000 | €75,000 | ▼ 14.8% |
| Cash at bank and in hand54/58 | €18,072 | €26,769 | €18,275 | €4,221 | €12,913 | ▲ 206% |
| Deferred charges and accrued income490/1 | €8,204 | €5,899 | €3,022 | €8,337 | €7,194 | ▼ 13.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €733,308 | €803,664 | €667,149 | €477,057 | €430,355 | ▼ 9.8% |
| Equity10/15 | €587,551 | €539,171 | €566,892 | €455,113 | €331,451 | ▼ 27.2% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €20,460 | €18,600 | ▼ 9.1% |
| Capital10 | €18,600 | €18,600 | €18,600 | - | - | - |
| Issued capital100 | €18,600 | €18,600 | €18,600 | - | - | - |
| Reserves13 | €360,740 | €353,458 | €338,458 | €238,724 | €116,921 | ▼ 51.0% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | - | €116,921 | - |
| Legal reserve130 | €1,860 | €1,860 | €1,860 | - | - | - |
| Other1319 | - | - | - | - | €116,921 | - |
| Distributable reserves133 | €358,880 | €351,598 | €336,598 | €238,724 | - | - |
| Profit (loss) carried forward14 | €208,211 | €167,113 | €209,834 | €195,929 | €195,929 | = |
| Amounts payable17/49 | €145,757 | €264,493 | €100,257 | €21,944 | €98,904 | ▲ 351% |
| Amounts payable after more than one year17 | €48,087 | €37,584 | €22,754 | €7,500 | €7,500 | = |
| Financial debts170/4 | €48,087 | €26,084 | €22,754 | - | - | - |
| Other amounts payable178/9 | - | €11,500 | - | €7,500 | €7,500 | = |
| Amounts payable within one year42/48 | €80,729 | €225,733 | €76,327 | €13,268 | €90,228 | ▲ 580% |
| Current portion of amounts payable after more than one year42 | €21,680 | €22,003 | €22,330 | €3,754 | - | - |
| Trade debts44 | €9,499 | €108,617 | €30,724 | €1,784 | €1,255 | ▼ 29.7% |
| Suppliers440/4 | €9,499 | €108,617 | €30,724 | €1,784 | €1,255 | ▼ 29.7% |
| Taxes, remuneration and social security45 | €49,313 | €50,664 | €22,494 | €7,454 | €7,611 | ▲ 2.1% |
| Taxes450/3 | €41,357 | €42,526 | €22,494 | €7,454 | €7,611 | ▲ 2.1% |
| Remuneration and social security454/9 | €7,956 | €8,138 | - | - | - | - |
| Other amounts payable47/48 | €238 | €44,449 | €780 | €277 | €81,363 | ▲ 29,251% |
| Accrued charges and deferred income492/3 | €16,941 | €1,176 | €1,176 | €1,176 | €1,176 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €41,098 | €35,346 | €42,721 | -€13,905 | €9,769 | ▲ 170% |
| + Depreciation and write-downs630 | €45,160 | €45,860 | €47,011 | €53,894 | €53,252 | ▼ 1.2% |
| Operating cash flow (approximation) | €86,258 | €81,206 | €89,732 | €39,989 | €63,021 | ▲ 57.6% |
| Investment in fixed assets (approximation) | - | €0 | -€58,022 | €9,165 | €1,000 | ▼ 89.1% |
| Change in cash | - | €8,697 | -€8,494 | -€14,054 | €8,692 | ▲ 162% |
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
24-08
State Gazette act
Resignation: Tshibwabwa Mireille (director)Appointment: Sablon Florian (director) · Director discharge4 facts ▸
State Gazette act
Resignation: Tshibwabwa Mireille (director)
Appointment: Sablon Florian (director) · Director discharge4 facts ▸
- General meeting, 27-11-2024
- Director resignation, Tshibwabwa Mireille (director)
- Director discharge, Tshibwabwa Mireille (director)
- Director appointment, Sablon Florian (director)
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €9,769
Net result €9,769 after one loss-making year.
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€13,905
Net result drops to -€13,905, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 7.58
Current ratio from 2.98 to 7.58; short-term debt falls from €76,327 to €13,268.
16-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 6 days late
06-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 6 days late
2023
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 24 days late
2022
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 25 days late
2021
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
20-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 20 days late
Show earlier events
2019
31-12
Financial
Liquidity doublescurrent ratio 1.93
Current ratio from 0.81 to 1.93; short-term debt falls from €140,717 to €62,888.
31-12
Financial
Equity above €500,000Eq €512,009 ▲13.8%
2 profitable years in a row build equity to €512,009.
08-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 8 days late
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Sablon Florian
CurrentDirector · since 27-11-2024
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
8 of this company's 9 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Sint-Pieters-Woluwe · 1 establishment unit since 2003
Ground area
345 m²
Building footprint
101 m²
Volume, LiDAR
1,183 m³
Parcel 21019A0203/00W011, Brussels · tallest building 14.4 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Hertogstraat 49, 1150 Sint-Pieters-Woluwe
since 20032.299.540.891
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21019A0203/00W011 | Brussels | 345 m² | 1 · 101 m² | 14.4 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.
Mandate history
2 people since 2024, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Sablon Florian |
|
| Tshibwabwa Mireille |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
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Shareholding
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Of 12,042 companies in sector 68203 we hold annual accounts for 6,005. 4,430 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
Founded30-07-2003
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0859856203
Also
9925:BE0859856203
Registered
16-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.