TSN
ActiveSummary
TSN has been active since 1982 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €379k and a net result of €45k. Equity remains stable across the filed fiscal years (±1.7% per year). Its solvency ranks better than 58% of 11322 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
71
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability76▼-4
Solvency77▲+2
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity tight (current ratio 1.21 against 1.18 in 2024; short-term debt: 37% and cash: 11.5% of total assets), and 48.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
51.9%
Return on assets
6.2%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
162 d late
2023
31 d late
2022
84 d late
2021
92 d late
2020
102 d late
2019
131 d late
← before the deadline
after the deadline →
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€379k▼ 1.4%
2024 · €384k
2018: €361k
2019: €393k
2020: €288k
2021: €294k
2022: €335k
2023: €366k
2024: €384k
2018 → 2025
Total assets
€729k▼ 4.2%
2024 · €761k
2018: €668k
2019: €716k
2020: €503k
2021: €570k
2022: €589k
2023: €752k
2024: €761k
2018 → 2025
Net result
€45k▼ 34.8%
2024 · €69k
2018: €151k
2019: €103k
2020: €-105k
2021: €41k
2022: €122k
2023: €131k
2024: €69k
2018 → 2025
Working capital
€58k▲ 16.6%
2024 · €49k
2018: €115k
2019: €2k
2020: €46k
2021: €72k
2022: €51k
2023: €64k
2024: €49k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€294k-€335k▲ 14.0%€366k▲ 9.1%€384k▲ 5.0%€379k▼ 1.4%
Operating result€42k-€132k▲ 217%€162k▲ 22.5%€101k▼ 37.5%€67k▼ 34.2%
Net result€41k-€122k▲ 197%€131k▲ 7.6%€69k▼ 47.4%€45k▼ 34.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 34% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €729k
Fixed assets
€402k ▼ 8.7%
Current assets
€327k ▲ 1.9%
Equity and liabilities €729k
Equity
€379k ▼ 1.4%
Provisions
€39k ▼ 0.3%
Debt
€311k ▼ 7.8%
Debt's share of the balance-sheet total falls from 44.3% to 42.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€163k▼
2024 · €164k
Cash flow
€141k▲
2024 · €132k
Current ratio
1.21▲
2024 · 1.18
Quick ratio
1.08▲
2024 · 1.04
Debt to equity
0.82▼
2024 · 0.88
ROE
11.9%▼
2024 · 17.9%
ROA
6.2%▼
2024 · 9.0%
Interest coverage
27.80▲
2024 · 22.58
Debt ≤ 1 year
€270k▼
2024 · €272k
Debt > 1 year
€41k▼
2024 · €66k
Income taxes
€19k▼
2024 · €26k
Staff costs
€162k▲
2024 · €157k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 71 lines
Balance sheet
Code20242025
Assets
Total assets20/58€761k€729k▼
Fixed assets21/28€440k€402k▼
Tangible fixed assets22/27€366k€330k▼
Land and buildings22€64k€59k▼
Plant, machinery and equipment23€188k€191k▲
Furniture and vehicles24€102k€70k▼
Other tangible fixed assets26€12k€10k▼
Financial fixed assets28€74k€72k▼
Current assets29/58€321k€327k▲
Amounts receivable after more than one year29€40k€14k▼
Other amounts receivable291€40k€14k▼
Stocks and contracts in progress3€38k€37k▼
Stocks30/36€38k€37k▼
Amounts receivable within one year40/41€212k€185k▼
Trade receivables40€206k€156k▼
Other amounts receivable41€6k€29k▲
Cash at bank and in hand54/58€30k€84k▲
Deferred charges and accrued income490/1€664€7k▲
Equity and liabilities
Total equity and liabilities10/49€761k€729k▼
Equity10/15€384k€379k▼
Contributions10/11€56k€56k=
Reserves13€109k€149k▲
Non-distributable reserves130/1€6k€6k=
Reserves not available under the articles1311€6k€6k=
Distributable reserves133€104k€144k▲
Profit (loss) carried forward14€216k€170k▼
Investment grants15€3k€3k▼
Provisions and deferred taxes16€40k€39k▼
Provisions for liabilities and charges160/5€20k€20k=
Major repairs and maintenance162€20k€20k=
Deferred taxes168€20k€19k▼
Amounts payable17/49€337k€311k▼
Amounts payable after more than one year17€66k€41k▼
Financial debts170/4€66k€41k▼
Amounts payable within one year42/48€272k€270k▼
Current portion of amounts payable after more than one year42€31k€25k▼
Financial debts43€86€86=
Credit institutions430/8€86€86=
Trade debts44€93k€57k▼
Suppliers440/4€93k€57k▼
Advances received on contracts in progress46€15k€11k▼
Taxes, remuneration and social security45€37k€67k▲
Taxes450/3€33k€56k▲
Remuneration and social security454/9€5k€10k▲
Other amounts payable47/48€95k€110k▲
Accrued charges and deferred income492/3€116€885▲
Income statement
Code20242025
Non-recurring operating income76A-€1k
Remuneration, social security and pensions62€157k€162k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€63k€97k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€4k€6k▲
Other operating charges640/8€7k€13k▲
Non-recurring operating charges66A€8k€11k▲
Gross operating margin9900€341k€354k▲
Operating profit (loss)9901€101k€67k▼
Financial income75/76B€3k€3k▼
Recurring financial income75€3k€2k▼
Non-recurring financial income76B€59€393▲
Financial charges65/66B€9k€6k▼
Recurring financial charges65€7k€6k▼
Non-recurring financial charges66B€2k-
Profit (loss) for the period before taxes9903€95k€64k▼
Transfer from deferred taxes780€99€99=
Income taxes67/77€26k€19k▼
Profit (loss) for the period9904€69k€45k▼
Profit (loss) for the period to be appropriated9905€69k€45k▼
Appropriation of the result
Profit (loss) to be appropriated9906€316k€260k▼
Profit (loss) brought forward from the previous period14P€247k€216k▼
Transfer to equity691/2€50k€40k▼
To other reserves6921€50k€40k▼
Profit to be distributed694/7€50k€50k=
Return on contributions (dividend)694€50k€50k=
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
09-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 162 days late
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
23-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 84 days late
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 92 days late
2021
31-12
Financial
Back to profitnet €41k
Net result €41k after one loss-making year.
10-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 102 days late
2020
31-12
Financial
Weakest financial yearnet €-105k ▼203%
Net result drops to €-105k, the lowest in the series; recovery starts the following year.
09-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 131 days late
2019
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
20-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 20 days late
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Jette · 1 establishment unit since 1982
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
de Levis Mirepoixlaan 761090 JetteGround area
442 m²
Building footprint
443 m²
Volume, LiDAR
3,153 m³
Parcel 21464D0161/00L013, Brussels · tallest building 13.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
de Levis Mirepoixlaan 76, 1090 Jette
since 19822.021.248.584
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21464D0161/00L013 | Brussels | 442 m² | 1 · 443 m² | 13.7 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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
Etablissements Georges Lincé
BE 0402.290.375
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EUROBEL LUXEMBOURG
BE 0887.759.341
Bastogne · Eq €376k
ETIENNE HENROTTE DISTRIBUTION
BE 0428.623.105
Fexhe-le-Haut-Clocher · Eq €384k
Mira Home
BE 0415.751.601
Zele · Eq €393k
WELL
BE 0433.737.082
Estaimpuis · Eq €363k
Of 471 companies in sector 46442 we hold annual accounts for 334. 249 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-10-1982
Fiscal year end31-12
Activities, NACEBEL 2025
46442Wholesale trade
46643Wholesale of electrical equipment, including installation materials
Sources
Crossroads Bank for EnterprisesNational Bank · 43 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.