TSL SYSTEMS
ActiveSummary
TSL SYSTEMS has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €446k and a net result of €91k. Equity is growing by ~25.5% per year across the filed fiscal years. Its solvency ranks better than 68% of 1526 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability82▲+2
Solvency76▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity short (current ratio 0.56 against 0.61 in 2024; short-term debt: 30.1% and cash: 6.1% of total assets), and 48.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 77
Relative position
BE, all sectors
reference
Rental and leasing activities (NACE 77)
about 44% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
51.1%
Return on assets
10.4%
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 22-12-2025, 40 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
40 d early
2024
1 d early
2023
1 d early
2022
28 d early
2021
27 d early
2020
26 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 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€446k▲ 25.6%
2024 · €355k
Total assets
€874k▲ 9.1%
2024 · €801k
Net result
€91k▲ 30.8%
2024 · €70k
Working capital
€-115k▼ 4.6%
2024 · €-110k
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
Line20212022202320242025
Operating result€-51k€45k€96k▲ 111%€94k▼ 1.5%€132k▲ 40.7%
Net result€-56k€41k€82k▲ 98.5%€70k▼ 15.4%€91k▲ 30.8%
Equity€162k▼ 25.7%€204k▲ 25.5%€286k▲ 40.3%€355k▲ 24.3%€446k▲ 25.6%
Total assets€658k▼ 6.7%€662k▲ 0.5%€721k▲ 8.9%€801k▲ 11.1%€874k▲ 9.1%
Debt€496k▲ 1.9%€458k▼ 7.6%€435k▼ 5.0%€446k▲ 2.5%€428k▼ 4.1%
Working capital€-241k▲ 13.9%€-167k▲ 30.5%€-179k▼ 7.0%€-110k▲ 38.8%€-115k▼ 4.6%
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 41% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €874k
Fixed assets
€726k ▲ 15.6%
Current assets
€148k ▼ 14.4%
Equity and liabilities €874k
Equity
€446k ▲ 25.6%
Debt
€428k ▼ 4.1%
Debt's share of the balance-sheet total falls from 55.6% to 48.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€284k▼
2024 · €288k
Cash flow
€243k▼
2024 · €264k
Current ratio
0.56▼
2024 · 0.61
Debt to equity
0.96▼
2024 · 1.25
ROE
20.4%▲
2024 · 19.6%
ROA
10.4%▲
2024 · 8.7%
Interest coverage
38.65▲
2024 · 37.79
Debt ≤ 1 year
€263k▼
2024 · €283k
Debt > 1 year
€165k▲
2024 · €163k
Income taxes
€35k▲
2024 · €18k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €4k | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €137k | €147k | €180k | €194k | €152k | ▼ 21.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €0 | - | - | - | - |
| Other operating charges640/8 | - | €3k | €630 | €2k | €2k | ▲ 12.4% |
| Non-recurring operating charges66A | - | €0 | - | - | - | - |
| Gross operating margin9900 | €91k | €195k | €276k | €290k | €287k | ▼ 1.3% |
| Operating profit (loss)9901 | €-51k | €45k | €96k | €94k | €132k | ▲ 40.7% |
| Financial income75/76B | - | €1k | €804 | €1k | €934 | ▼ 9.2% |
| Recurring financial income75 | €346 | €1k | €804 | €1k | €934 | ▼ 9.2% |
| Financial charges65/66B | - | €5k | €7k | €8k | €7k | ▼ 3.6% |
| Recurring financial charges65 | €6k | €5k | €7k | €8k | €7k | ▼ 3.6% |
| Profit (loss) for the period before taxes9903 | €-56k | €41k | €90k | €87k | €126k | ▲ 43.9% |
| Income taxes67/77 | - | - | €8k | €18k | €35k | ▲ 94.6% |
| Profit (loss) for the period9904 | €-56k | €41k | €82k | €70k | €91k | ▲ 30.8% |
| Profit (loss) for the period to be appropriated9905 | €-56k | €41k | €82k | €70k | €91k | ▲ 30.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €658k | €662k | €721k | €801k | €874k | ▲ 9.1% |
| Formation expenses20 | €5k | €3k | €1k | €0 | - | - |
| Fixed assets21/28 | €586k | €577k | €645k | €628k | €726k | ▲ 15.6% |
| Tangible fixed assets22/27 | €586k | €577k | €645k | €628k | €726k | ▲ 15.6% |
| Land and buildings22 | - | €229k | €218k | €209k | €225k | ▲ 7.8% |
| Plant, machinery and equipment23 | - | €348k | €426k | €418k | €500k | ▲ 19.4% |
| Furniture and vehicles24 | - | €0 | €767 | €1k | €1k | ▲ 6.4% |
| Financial fixed assets28 | €23 | €23 | €23 | €23 | €23 | = |
| Current assets29/58 | €68k | €82k | €75k | €173k | €148k | ▼ 14.4% |
| Amounts receivable within one year40/41 | €22k | €66k | €41k | €61k | €92k | ▲ 50.7% |
| Trade receivables40 | - | €65k | €31k | €59k | €92k | ▲ 56.0% |
| Other amounts receivable41 | - | €327 | €11k | €2k | €151 | ▼ 93.0% |
| Cash at bank and in hand54/58 | €44k | €15k | €31k | €110k | €53k | ▼ 51.9% |
| Deferred charges and accrued income490/1 | - | €2k | €2k | €2k | €3k | ▲ 65.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €658k | €662k | €721k | €801k | €874k | ▲ 9.1% |
| Equity10/15 | €162k | €204k | €286k | €355k | €446k | ▲ 25.6% |
| Contributions10/11 | - | €210k | €210k | €210k | €210k | = |
| Reserves13 | - | - | €76k | €145k | €236k | ▲ 62.5% |
| Distributable reserves133 | - | - | €76k | €145k | €236k | ▲ 62.5% |
| Profit (loss) carried forward14 | €-48k | €-6k | €0 | - | - | - |
| Amounts payable17/49 | €496k | €458k | €435k | €446k | €428k | ▼ 4.1% |
| Amounts payable after more than one year17 | €188k | €209k | €181k | €163k | €165k | ▲ 1.0% |
| Financial debts170/4 | - | €209k | €181k | €163k | €165k | ▲ 1.0% |
| Amounts payable within one year42/48 | €308k | €250k | €254k | €283k | €263k | ▼ 7.1% |
| Current portion of amounts payable after more than one year42 | - | €54k | €55k | €63k | €54k | ▼ 14.3% |
| Trade debts44 | €27k | €31k | €22k | €30k | €18k | ▼ 39.9% |
| Suppliers440/4 | - | €31k | €22k | €30k | €18k | ▼ 39.9% |
| Advances received on contracts in progress46 | - | - | - | €22k | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | €3k | €16k | €7k | €30k | ▲ 324% |
| Taxes450/3 | - | €3k | €16k | €7k | €30k | ▲ 324% |
| Other amounts payable47/48 | - | €161k | €161k | €161k | €161k | ▼ 0.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-56k | €41k | €82k | €70k | €91k | ▲ 30.8% |
| + Depreciation and write-downs630 | €137k | €147k | €180k | €194k | €152k | ▼ 21.8% |
| Operating cash flow (approximation) | €81k | €188k | €262k | €264k | €243k | ▼ 7.9% |
| Investment in fixed assets (approximation) | - | €-138k | €-248k | €-177k | €-250k | ▼ 40.8% |
| Change in cash | - | €-30k | €17k | €79k | €-57k | ▼ 172% |
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
2025
22-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Highest result since 2020net €91k ▲30.8%
Operating result €132k, net result €91k, both a record.
30-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
03-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Back to profitnet €41k
Net result €41k after one loss-making year.
30-06
Financial
Equity above €200kEq €204k ▲25.5%
Equity rises from €162k to €204k.
04-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Weakest financial yearnet €-56k
Net result drops to €-56k, the lowest in the series; recovery starts the following year.
05-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro 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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Roeselare · 1 establishment unit since 2019
Ground area
448 m²
Building footprint
58 m²
Parcel 36502B1795/00E000, Flanders · tallest building 0.1 m. Linked by address, not a title deed.
1 establishment unit
TSL SYSTEMS
since 20192.287.679.672
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36502B1795/00E000 | Flanders | 448 m² | 1 · 58 m² | 0.1 m |
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.
Similar companies · same sector, comparable size
WIHEMA
BE 0864.833.885
Genk · Eq €450k
SYSTEM EVENT & TECHNOLOGY
BE 0884.080.665
Sint-Katelijne-Waver · Eq €442k
ATYPIC Concept
BE 0873.068.195
Havelange · Eq €441k
Quatre Mains Piano’s
BE 0558.917.067
Gent · Eq €434k
JAJOLI
BE 0465.906.440
Bonheiden · Eq €432k
Of 881 companies in sector 77229 we hold annual accounts for 319. 222 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
Founded26-03-2019
Fiscal year end30-06
Activities, NACEBEL 2025
77229Renting and leasing of other personal and household goods
Scores and ratios are computed by Checked and are not a credit decision.