TSV CONCEPT
ActiveSummary
TSV CONCEPT has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.2m and a net result of €154,988. Equity is growing by ~2.8% per year across the filed fiscal years. Its solvency ranks better than 58% of 37965 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability80▼-11
Solvency91▼-1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €85,000 at 30 days acceptable
Liquidity short (current ratio 0.75 against 0.85 in 2023; short-term debt: 34% and cash: 1.3% of total assets), and 34% of the assets are financed with debt.
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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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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 2024Solvency, return and age of the figures
Solvency
66%
Return on assets
8.8%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 16-10-2025, 77 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
77 d late
2023
92 d late
2022
150 d late
2021
66 d late
2020
125 d late
2019
153 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 111 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€1.2m▼ 5.1%
2023 · €1.2m
Total assets
€1.8m▼ 3.5%
2023 · €1.8m
Net result
€154,988▼ 52.0%
2023 · €323,073
Working capital
-€150,036▼ 70.5%
2023 · -€87,987
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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
Line20202021202220232024
Operating result€87,504€28,216▼ 67.8%€446,241▲ 1,481%€429,103▼ 3.8%€221,071▼ 48.5%
Net result€56,299above the sector's middle half€46,183within the sector's middle half▼ 18.0%€305,811above the sector's middle half▲ 562%€323,073above the sector's middle half▲ 5.6%€154,988above the sector's middle half▼ 52.0%
Equity€1.0mabove the sector's middle half▲ 5.7%€902,952above the sector's middle half▼ 14.0%€1.0mabove the sector's middle half▲ 13.9%€1.2mabove the sector's middle half▲ 19.4%€1.2mabove the sector's middle half▼ 5.1%
Total assets€1.6mabove the sector's middle half▲ 13.1%€1.7mabove the sector's middle half▲ 5.0%€1.8mabove the sector's middle half▲ 7.7%€1.8mabove the sector's middle half▲ 1.4%€1.8mabove the sector's middle half▼ 3.5%
Debt€545,109▲ 30.9%€771,744▲ 41.6%€774,617▲ 0.4%€600,348▼ 22.5%€599,197▼ 0.2%
Working capital-€279,559below the sector's middle half▲ 15.2%-€411,020below the sector's middle half▼ 47.0%-€284,409below the sector's middle half▲ 30.8%-€87,987below the sector's middle half▲ 69.1%-€150,036below the sector's middle half▼ 70.5%
Solvency65.8%within the sector's middle half▼ 4.6pp53.9%within the sector's middle half▼ 11.9pp57.0%within the sector's middle half▲ 3.1pp67.2%within the sector's middle half▲ 10.1pp66.0%within the sector's middle half▼ 1.1pp
Current ratio0.47below the sector's middle half▲ 0.340.47below the sector's middle half=0.63below the sector's middle half▲ 0.170.85below the sector's middle half▲ 0.220.75below the sector's middle half▼ 0.10
Return on assets (ROA)3.5%within the sector's middle half▲ 4.9pp2.8%within the sector's middle half▼ 0.8pp17.0%within the sector's middle half▲ 14.2pp17.7%within the sector's middle half▲ 0.7pp8.8%within the sector's middle half▼ 8.9pp
Staff (FTE)11=
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
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; 2024 is 48% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.8m
Fixed assets
€1.3m ▼ 0.1%
Current assets
€449,161 ▼ 12.3%
Equity and liabilities €1.8m
Equity
€1.2m ▼ 5.1%
Debt
€599,197 ▼ 0.2%
Debt's share of the balance-sheet total rises from 32.8% to 34.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€222,286▼
2023 · €430,319
Cash flow
€156,203▼
2023 · €324,288
Debt to equity
0.51▲
2023 · 0.49
ROE
13.3%▼
2023 · 26.3%
Interest coverage
40.13▼
2023 · 121.00
Debt ≤ 1 year
€599,197▼
2023 · €600,348
Income taxes
€67,063▼
2023 · €105,274
Staff costs
€28,647▲
2023 · €24,122
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €316 | €24,122 | €28,647 | ▲ 18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,875 | €4,686 | €800 | €1,215 | €1,215 | = |
| Other operating charges640/8 | - | €6,080 | €462 | €7,069 | €1,658 | ▼ 76.5% |
| Gross operating margin9900 | €106,015 | €38,983 | €447,819 | €461,510 | €252,590 | ▼ 45.3% |
| Operating profit (loss)9901 | €87,504 | €28,216 | €446,241 | €429,103 | €221,071 | ▼ 48.5% |
| Financial income75/76B | - | €23,359 | €2,940 | €2,800 | €6,519 | ▲ 133% |
| Recurring financial income75 | - | €461 | €2,940 | €2,800 | €6,519 | ▲ 133% |
| Non-recurring financial income76B | - | €22,898 | - | - | - | - |
| Financial charges65/66B | - | €1,725 | €3,827 | €3,556 | €5,539 | ▲ 55.7% |
| Recurring financial charges65 | €1,057 | €1,725 | €3,827 | €3,556 | €5,539 | ▲ 55.7% |
| Profit (loss) for the period before taxes9903 | €86,447 | €49,850 | €445,354 | €428,347 | €222,051 | ▼ 48.2% |
| Income taxes67/77 | €30,148 | €3,667 | €139,543 | €105,274 | €67,063 | ▼ 36.3% |
| Profit (loss) for the period9904 | €56,299 | €46,183 | €305,811 | €323,073 | €154,988 | ▼ 52.0% |
| Profit (loss) for the period to be appropriated9905 | €56,299 | €46,183 | €305,811 | €323,073 | €154,988 | ▼ 52.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €1.7m | €1.8m | €1.8m | €1.8m | ▼ 3.5% |
| Fixed assets21/28 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | ▼ 0.1% |
| Tangible fixed assets22/27 | €33,886 | €1,571 | €771 | €4,423 | €3,209 | ▼ 27.5% |
| Plant, machinery and equipment23 | - | - | - | €2,047 | €1,837 | ▼ 10.3% |
| Furniture and vehicles24 | - | €1,571 | €771 | €2,377 | €1,372 | ▼ 42.3% |
| Financial fixed assets28 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Current assets29/58 | €248,592 | €360,724 | €490,209 | €512,361 | €449,161 | ▼ 12.3% |
| Amounts receivable after more than one year29 | - | - | €130,000 | €130,000 | €170,000 | ▲ 30.8% |
| Other amounts receivable291 | - | - | €130,000 | €130,000 | €170,000 | ▲ 30.8% |
| Amounts receivable within one year40/41 | €235,702 | €334,430 | €274,987 | €287,545 | €217,715 | ▼ 24.3% |
| Trade receivables40 | - | €144,226 | €102,716 | €187,809 | €181,966 | ▼ 3.1% |
| Other amounts receivable41 | - | €190,204 | €172,270 | €99,736 | €35,748 | ▼ 64.2% |
| Current investments50/53 | - | - | - | €50,000 | €25,000 | ▼ 50.0% |
| Cash at bank and in hand54/58 | €10,804 | €24,957 | €80,961 | €37,579 | €22,557 | ▼ 40.0% |
| Deferred charges and accrued income490/1 | - | €1,338 | €4,261 | €7,237 | €13,889 | ▲ 91.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €1.7m | €1.8m | €1.8m | €1.8m | ▼ 3.5% |
| Equity10/15 | €1.0m | €902,952 | €1.0m | €1.2m | €1.2m | ▼ 5.1% |
| Contributions10/11 | - | €8,060 | €8,060 | €8,060 | €8,060 | = |
| Reserves13 | €134,252 | €179,252 | €449,252 | €699,252 | €845,000 | ▲ 20.8% |
| Distributable reserves133 | - | €179,252 | €449,252 | €699,252 | €845,000 | ▲ 20.8% |
| Profit (loss) carried forward14 | €907,457 | €715,640 | €571,451 | €521,524 | €312,513 | ▼ 40.1% |
| Amounts payable17/49 | €545,109 | €771,744 | €774,617 | €600,348 | €599,197 | ▼ 0.2% |
| Amounts payable after more than one year17 | €16,958 | - | - | - | - | - |
| Amounts payable within one year42/48 | €528,151 | €771,744 | €774,617 | €600,348 | €599,197 | ▼ 0.2% |
| Financial debts43 | - | €112 | €393 | €304 | €720 | ▲ 137% |
| Credit institutions430/8 | - | €112 | €393 | €304 | €720 | ▲ 137% |
| Trade debts44 | €22,976 | €707 | €3,221 | €43,934 | €1,285 | ▼ 97.1% |
| Suppliers440/4 | - | €707 | €3,221 | €43,934 | €1,285 | ▼ 97.1% |
| Taxes, remuneration and social security45 | - | €41,502 | €139,603 | €28,936 | €117,781 | ▲ 307% |
| Taxes450/3 | - | €34,526 | €128,944 | €14,925 | €111,009 | ▲ 644% |
| Remuneration and social security454/9 | - | €6,976 | €10,659 | €14,012 | €6,772 | ▼ 51.7% |
| Other amounts payable47/48 | - | €729,423 | €631,400 | €527,174 | €479,410 | ▼ 9.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €56,299 | €46,183 | €305,811 | €323,073 | €154,988 | ▼ 52.0% |
| + Depreciation and write-downs630 | €16,875 | €4,686 | €800 | €1,215 | €1,215 | = |
| Operating cash flow (approximation) | €73,174 | €50,869 | €306,611 | €324,288 | €156,203 | ▼ 51.8% |
| Investment in fixed assets (approximation) | - | €27,628 | €0 | -€4,867 | €0 | ▲ 100% |
| Change in cash | - | €14,153 | €56,004 | -€43,382 | -€15,022 | ▲ 65.4% |
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
2025
16-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 77 days late
2024
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 92 days late
2023
31-12
Financial
Highest result since 2018net €323,073 ▲5.6%
Net result €323,073, the highest in the series.
28-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 150 days late
2022
31-12
Financial
Equity above €1mEq €1.0m ▲13.9%
3 profitable years in a row build equity to €1.0m.
05-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 66 days late
2021
03-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 125 days late
2020
31-12
Financial
Back to profitnet €56,299
Net result €56,299 after one loss-making year.
31-12
Financial
Equity above €1mEq €1.0m ▲5.7%
Equity rises from €993,470 to €1.0m.
31-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 153 days late
2019
31-12
Financial
Weakest financial yearnet -€18,806
Net result drops to -€18,806, the lowest in the series; recovery starts the following year.
14-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 106 days late
Show earlier events
2018
16-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 108 days late
2017
30-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 61 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 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, Ciney · 1 establishment unit since 2011
Ground area
3,896 m²
Building footprint
1,172 m²
2 parcels, Wallonia. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
TSV HOLDING
since 20112.236.852.167
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 91030B0245/00N000 | Wallonia | 3,375 m² | 1 · 978 m² | - |
| 91030B0364/00Y002 | Wallonia | 521 m² | 1 · 194 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
2 holdingsOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 2
-
100%
-
100%
According to the 2024 annual accounts of TSV CONCEPT and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 82,646 companies in sector 70200 we hold annual accounts for 52,627. 26,157 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
Founded22-12-2011
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Contact
Phone
083/21.14.32Ciney
E-invoicing
Reachable via Peppol
Peppol ID
0208:0842137568
Registered
19-12-2025
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.