TSO CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of TSO CONSTRUCT is 1.9% (moderate). The 2025 annual accounts show equity of €17,744 and a net result of €30,194. Its solvency ranks better than 61% of 34,072 sector peers (NACE 43, financial year 2025). The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
2025 annual accounts filed late (34 days) Filed on 3 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00506323.
2024 to 2025, 2 financial years
The operating result returns to profit in 2025: €34,637 after a loss of €13,389 in 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital.
Peer companies
Historical observationOf the 39,278 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 95.8% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.9% 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 497,470 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% | 1.8% |
| 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 74.5% 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 39,278 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.
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €145 | - |
| Other operating charges640/8 | - | €1,099 | - |
| Gross operating margin9900 | -€13,389 | €35,881 | - |
| Operating profit (loss)9901 | -€13,389 | €34,637 | - |
| Financial income75/76B | - | €236 | - |
| Recurring financial income75 | - | €236 | - |
| Financial charges65/66B | €61 | €197 | ▲ 222% |
| Recurring financial charges65 | €61 | €197 | ▲ 222% |
| Profit (loss) for the period before taxes9903 | -€13,450 | €34,676 | - |
| Income taxes67/77 | - | €4,483 | - |
| Profit (loss) for the period9904 | -€13,450 | €30,194 | - |
| Profit (loss) for the period to be appropriated9905 | -€13,450 | €30,194 | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €3,584 | €31,289 | ▲ 773% |
| Fixed assets21/28 | - | €2,855 | - |
| Tangible fixed assets22/27 | - | €2,855 | - |
| Plant, machinery and equipment23 | - | €2,855 | - |
| Current assets29/58 | €3,584 | €28,434 | ▲ 693% |
| Amounts receivable within one year40/41 | €1,000 | €22,320 | ▲ 2,132% |
| Trade receivables40 | - | €15,204 | - |
| Other amounts receivable41 | €1,000 | €7,115 | ▲ 612% |
| Cash at bank and in hand54/58 | €2,584 | €6,115 | ▲ 137% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €3,584 | €31,289 | ▲ 773% |
| Equity10/15 | -€12,450 | €17,744 | - |
| Contributions10/11 | €1,000 | €1,000 | = |
| Profit (loss) carried forward14 | -€13,450 | €16,744 | - |
| Amounts payable17/49 | €16,034 | €13,545 | ▼ 15.5% |
| Amounts payable within one year42/48 | €16,034 | €13,545 | ▼ 15.5% |
| Trade debts44 | €14,034 | €8,732 | ▼ 37.8% |
| Suppliers440/4 | €14,034 | €8,732 | ▼ 37.8% |
| Taxes, remuneration and social security45 | €2,000 | €4,813 | ▲ 141% |
| Taxes450/3 | - | €4,736 | - |
| Remuneration and social security454/9 | €2,000 | €76 | ▼ 96.2% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€13,450 | €30,194 | - |
| + Depreciation and write-downs630 | - | €145 | - |
| Operating cash flow (approximation) | -€13,450 | €30,339 | - |
| Change in cash | - | €3,531 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (2)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 03-09-2026 | 2026-00506323 |
| 31-12-2024 | micro format | 30-09-2025 | 2025-00514894 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.