Skip to content
Checked.be
Complete company report
Generated 29-07-2026
Active BE 0753.376.927Private limited company

TSM VITSE

Sint-Katriensteenweg 135 ·8520 Kuurne, Belgium· 5 yrs active
Sector: Joinery (43320)
Conclusion Checked

The computed 12-month bankruptcy probability of TSM VITSE is 4.2% (elevated). The 2024 annual accounts show negative equity (€-12k) and a net result of €-11k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 11071 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 4 annual accounts.
Key figures
Equity €-12k
Net result €-11k
Better than sector 5%
Active 5 yrs
Snowflake analysis 5 axes · computed by Checked
Health27Profitability100Solvency47Growth32Stability94
60 / 100

Strong profile, led by profitability.

Health 27
Profitability 100
Solvency 47
Growth 32
Stability 94
Bankruptcy probability (12 mo) Checked model v1 · free
4.2% Elevated
0%0,5%1,5%4%10%≥25%
Young company +Annual accounts: weaker financial profile +Higher-failure-rate sector +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based
0 / 100
Low risk
Trust signals 3 signals
More than 3 years active
Founded in 2020, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad.
Administratively compliant
No FOD Economie strikeouts (UBO, accounts, address, activity).
Administrative Flags 0 events
No administrative flags
Health barometer FY 2024 · computed
27 / 100 Weak
050100

Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.

See plans →
Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.
Financial overview4 NBB filings
Annual accounts filed on 29-09-2025 with the NBB · fiscal year 2024 · micro
€-15k€-10k€-5k€0€5kOperating result 2021: €3k€3kNet result 2021: €2k€2kOperating result 2022: €-689€-689Net result 2022: €-2k€-2kOperating result 2023: €-2k€-2kNet result 2023: €-4k€-4kOperating result 2024: €-10k€-10kNet result 2024: €-11k€-11k2021202220232024
Operating resultNet result
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
volatile Too volatile to project: the yearly deviation from the trend is ~48% of the level (threshold 35%). We therefore deliberately show no projection line.
€-15k€-10k€-5k€0€5k2021: €5k2022: €3k2023: €-6592024: €-12k2021202220232024
How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison
Fiscal year 2024 · NACE 43, Specialised construction · compared within the same schema type (micro schema)
Metric This company Sector median Position in the sector
Solvency -33.9% 40.9%
better than 5% of 11071 sector peers
Net result €-11k €11k
better than 9% of 11053 sector peers
Equity €-12k €34k
better than 5% of 11074 sector peers
Gross operating margin €-5k €35k
better than 5% of 11044 sector peers
Staff costs €0 €25k
higher than 5% of 4030 sector peers
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
EBITDA
€-7k
- far below sector median
Net profit
€-11k
-195.8% far below sector median
Cash flow
€-8k
- far below sector median
Total assets
€35k
-13.4% -83% vs sector
Equity
€-12k
-1720.4% far below sector median
Working capital
€3k
-81.1% -97% vs sector
Staff costs
€0
- -100% vs sector
Income taxes
€140
+20.4% -99% vs sector
Debt
€47k
+14.1% -56% vs sector
Debt ≤ 1y
€30k
+74.1% -9% vs sector
Debt > 1y
€18k
-25.8% far above sector median
Current ratio
1.12
-46.1% -78% vs sector
Quick ratio
0.86
-47.0% -83% vs sector
Solvency
-33.9%
-2001.4% far below sector median
Debt / equity
-3.95
+93.7% far below sector median
ROE
94.5%
-83.7% far above sector median
ROA
-32.0%
-241.5% far below sector median
Interest coverage
-6.16
- far below sector median
Figures by fiscal year
Fiscal year2024
Revenue-
EBITDA€-7k
Net profit€-11k
Cash flow€-8k
Staff costs€0
Income taxes€140
Dividends-
Total assets€35k
Equity€-12k
Debt€47k
of which ≤ 1y€30k
of which > 1y€18k
Working capital€3k
Employees (FTE)-
Ratios (computed)
2024
Current ratio1.12
Quick ratio0.86
Working capital ratio9.7%
Solvency-33.9%
Debt / equity-3.95
Long-term debt ratio-1.46
Interest coverage-6.16
Gross margin-
Net margin-
ROA-32.0%
ROE94.5%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2024
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2024
Balance sheet, Assets
TOTAL ASSETS 20/58€35k
Fixed assets 21/28€2k
Tangible fixed assets 22/27€603
Financial fixed assets 28€2k
Current assets 29/58€33k
Stocks & contracts in progress 3€8k
Amounts receivable within one year 40/41€15k
Cash & bank 54/58€10k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€35k
Equity 10/15€-12k
Contributions / capital 10/11€3k
Reserves 13€175
Accumulated profits (losses) 14€-15k
Amounts payable 17/49€47k
Amounts payable after one year 17€18k
Amounts payable within one year 42/48€30k
Trade debts payable within one year 44€17k
Income statement
Gross operating margin 9900€-5k
Operating result 9901€-10k
Financial income 75€121
Financial charges 65€1k
Result before taxes 9903€-11k
Income taxes 67/77€140
Net result for the period 9904€-11k
Result to be appropriated 9905€-11k
You're seeing the latest fiscal year only. Unlock 3 prior years (figures + ratios) with a paid plan. See plans →
Ratios computed by Checked.
Directors & mandates 1 directors
Current directors & mandates
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.
Legal Structure
NACE primary Joinery(43320)
Legal form Private limited company(610)
Incorporation27-08-2020
StatusActive
Postal code8520
Establishment units 1 location
TSM VITSE
Sint-Katriensteenweg 135, 8520 KuurneZagen en schaven van hout
since 20202.307.948.219
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
34023A0164/00P002 Flanders 101 m² 1 · 101 m² 10.6 m · 2 fl.
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates 6 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2025
06-11-2025
State Gazette act Director changes
v3.2
29-09-2025
NBB filing Annual accounts filed
fiscal year 2024 · micro
2024
09-12-2024
NBB filing Annual accounts filed
fiscal year 2023 · micro
2023
30-08-2023
NBB filing Annual accounts filed
fiscal year 2022 · micro
2022
30-08-2022
NBB filing Annual accounts filed
fiscal year 2021 · verkort
2020
31-08-2020
State Gazette act Incorporation
oprichting
Belgisch Staatsblad, acts 2 acts
All acts · 2 updated 8 months ago
2025
06-11-2025 Vanhaesebrouck Lutgarde appointed as director Director changes
  • Vanhaesebrouck Lutgarde, Bestuurder
Summary: v3.2
Technical details 
{
  "events": [
    {
      "kind": "director_in",
      "role": "bestuurder",
      "person": {
        "rrn": null,
        "name": "Vanhaesebrouck Lutgarde",
        "address": null,
        "birth_date": null
      },
      "effective_date": "2025-07-01",
      "evidence_quote": "De vergadering beslist om volgend persoon te benoemen tot bestuurder: - Mevr. Vanhaesebrouck Lutgarde, geboren op 01/06/1965 en wonende in de Sint-Katharinastraat 53 te 8501 Kortrijk."
    }
  ],
  "schema": "v3.2",
  "act_meta": {
    "model_id": 36,
    "extractor": "constrained-core-35b"
  },
  "subject_company": {
    "kbo": "0753.376.927",
    "name_full": "TSM VITSE",
    "legal_form": "BV"
  }
}
2020
31-08-2020 Incorporation of a new BV Incorporation
Summary: oprichting
Technical details 
{
  "kind": "oprichting",
  "seat": "8520 Kuurne, Sint-Katriensteenweg 135",
  "schema": "v3.2",
  "act_meta": {
    "model_id": 36,
    "extractor": "constrained-core-35b"
  },
  "founders": [
    {
      "org": null,
      "kind": "natural_person",
      "person": {
        "dob": "1990-02-26",
        "name": "VITSE Maarten Stefaan",
        "niss": null,
        "address": "8520 Kuurne, Sint-Katriensteenweg 135"
      },
      "share_class": "Ordinary",
      "partner_role": null,
      "holder_org_kbo": null,
      "holder_org_name": null,
      "contribution_type": "cash",
      "amount_paid_in_eur": 1500,
      "holder_person_name": "VITSE Maarten Stefaan",
      "is_subscriber_only": false,
      "n_shares_subscribed": 150,
      "amount_subscribed_eur": 1500,
      "is_anonymous_silent_partner": false
    },
    {
      "org": null,
      "kind": "natural_person",
      "person": {
        "dob": "1993-07-28",
        "name": "VANDEMOORTELE Ine",
        "niss": null,
        "address": "8520 Kuurne, Sint-Katriensteenweg 135"
      },
      "share_class": "Ordinary",
      "partner_role": null,
      "holder_org_kbo": null,
      "holder_org_name": null,
      "contribution_type": "cash",
      "amount_paid_in_eur": 1500,
      "holder_person_name": "VANDEMOORTELE Ine",
      "is_subscriber_only": false,
      "n_shares_subscribed": 150,
      "amount_subscribed_eur": 1500,
      "is_anonymous_silent_partner": false
    }
  ],
  "capital_eur": 3000,
  "subject_company": {
    "kbo": "0753.376.927",
    "name_full": "TSM VITSE",
    "legal_form": "BV"
  },
  "initial_directors": [],
  "incorporation_date": "2020-08-25",
  "post_incorporation_mandates": []
}
Credit advice verdict per customer and amount

Should this customer buy amount X on invoice? Enter the amount and payment terms, you get an instant GREEN/AMBER/RED verdict, with a suggested ceiling and concrete conditions.

Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.
AI due-diligence brief Checked AI

Generate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.

Coming soon
AI-generated from Checked data; indicative, not legal or investment advice.
Company registry (CBE) Crossroads Bank
Activities
Schrijnwerk43320Schrijnwerk43320
Primary activity highlighted.
Names & trade names
Legal nameNL TSM VITSE
Registered office
Sint-Katriensteenweg 135
8520 Kuurne, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.
Similar companies Same NACE
CYRIEL AMEYE EN ZONEN BE 0417.790.084 · Kuurne
Bouwonderneming De Brabant Gebroeders BE 0405.176.027 · Dentergem
KRIS VANHOOREN BE 0426.959.752 · Jabbeke
PYFFEROEN BE 0415.504.547 · Wevelgem
Reynders BE 0406.768.015 · Oostende
Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative