TVH
ActiveSummary
The computed 12-month bankruptcy probability of TVH is 3.4% (moderate). The 2024 annual accounts show equity of €11k and a net result of €-3k. Equity is shrinking by ~38.9% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 14% of 36375 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability18▲+11
Solvency34▼-8
Growth32=
Track record94
Bankruptcy probability, 12 months
3.4%
Moderate
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Liquidity ample (current ratio 2.57 against 1.11 in 2023; short-term debt: 36.2% and cash: 18.6% of total assets), but 90.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
+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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
9.3%
Return on assets
-2.9%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
222324
2022 to 2024 · latest year €-3k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 36375 sector peers (2024).
NBB · sector comparisonPosition among 36375 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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 · 3 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
61 d late
2022
32 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€11k▼ 23.7%
2023 · €14k
2022: €22khighest in 3 years
2023: €14k▼ -35.1% vs 2022
2024: €11k▼ -23.7% vs 2023lowest in 3 years
2022 → 2024
Total assets
€115k▲ 40.7%
2023 · €81k
2022: €50klowest in 3 years
2023: €81k▲ +63.6% vs 2022
2024: €115k▲ +40.7% vs 2023highest in 3 years
2022 → 2024
Net result
€-3k▲ 56.1%
2023 · €-8k
2022: €12khighest in 3 years
2023: €-8k▼ -166% vs 2022lowest in 3 years
2024: €-3k▲ +56.1% vs 2023
2022 → 2024
Working capital
€65k▲ 787%
2023 · €7k
2022: €6klowest in 3 years
2023: €7k▲ +13.7% vs 2022
2024: €65k▲ +787% vs 2023highest in 3 years
2022 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202220232024Trend
Equity€22k-€14k▼ 35.1%€11k▼ 23.7%
2022: €22khighest in 3 years
2023: €14k▼ -35.1% vs 2022
2024: €11k▼ -23.7% vs 2023lowest in 3 years
Operating result€15k-€-7k€-3k▲ 52.1%
2022: €15khighest in 3 years
2023: €-7k▼ -149% vs 2022lowest in 3 years
2024: €-3k▲ +52.1% vs 2023
Net result€12k-€-8k€-3k▲ 56.1%
2022: €12khighest in 3 years
2023: €-8k▼ -166% vs 2022lowest in 3 years
2024: €-3k▲ +56.1% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €3k in 2024 against €7k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €115k
Fixed assets
€8k ▲ 21.1%
Current assets
€107k ▲ 42.4%
Equity and liabilities €115k
Equity
€11k ▼ 23.7%
Debt
€104k ▲ 54.0%
Debt's share of the balance-sheet total rises from 82.9% to 90.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€346▲
2023 · €-3k
Cash flow
€499▲
2023 · €-4k
Current ratio
2.57▲
2023 · 1.11
Debt to equity
9.77▲
2023 · 4.84
ROE
-31.1%▲
2023 · -54.1%
ROA
-2.9%▲
2023 · -9.3%
Interest coverage
0.31▲
2023 · -2.45
Debt ≤ 1 year
€41k▼
2023 · €68k
Debt > 1 year
€63k
Staff costs
€61k▲
2023 · €60k
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 · 2024 against 2023 · 41 lines
Balance sheet
Code20232024
Assets
Total assets20/58€81k€115k▲
Fixed assets21/28€7k€8k▲
Tangible fixed assets22/27€6k€8k▲
Plant, machinery and equipment23€2k€5k▲
Furniture and vehicles24€5k€2k▼
Financial fixed assets28€431€431=
Current assets29/58€75k€107k▲
Amounts receivable within one year40/41€67k€37k▼
Trade receivables40€47k€12k▼
Other amounts receivable41€20k€25k▲
Cash at bank and in hand54/58€8k€21k▲
Deferred charges and accrued income490/1-€49k
Equity and liabilities
Total equity and liabilities10/49€81k€115k▲
Equity10/15€14k€11k▼
Contributions10/11€10k€10k=
Reserves13€4k€641▼
Distributable reserves133€4k€641▼
Amounts payable17/49€68k€104k▲
Amounts payable after more than one year17-€63k
Financial debts170/4-€63k
Amounts payable within one year42/48€68k€41k▼
Trade debts44€55k€34k▼
Suppliers440/4€55k€34k▼
Taxes, remuneration and social security45€13k€7k▼
Taxes450/3€13k€5k▼
Remuneration and social security454/9-€2k
Income statement
Code20232024
Non-recurring operating income76A€605-
Remuneration, social security and pensions62€60k€61k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€4k▼
Other operating charges640/8€3k€2k▼
Gross operating margin9900€60k€63k▲
Operating profit (loss)9901€-7k€-3k▲
Financial income75/76B€1k€1k▲
Recurring financial income75€1k€1k▲
Financial charges65/66B€1k€1k▼
Recurring financial charges65€1k€1k▼
Profit (loss) for the period before taxes9903€-8k€-3k▲
Profit (loss) for the period9904€-8k€-3k▲
Profit (loss) for the period to be appropriated9905€-8k€-3k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-8k€-3k▲
Transfer from equity791/2€8k€3k▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Non-recurring operating income76A | - | €605 | - | - |
| Remuneration, social security and pensions62 | €72k | €60k | €61k | ▲ 1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5k | €4k | €4k | ▼ 2.0% |
| Other operating charges640/8 | €2k | €3k | €2k | ▼ 47.0% |
| Gross operating margin9900 | €93k | €60k | €63k | ▲ 5.4% |
| Operating profit (loss)9901 | €15k | €-7k | €-3k | ▲ 52.1% |
| Financial income75/76B | - | €1k | €1k | ▲ 18.9% |
| Recurring financial income75 | - | €1k | €1k | ▲ 18.9% |
| Financial charges65/66B | €420 | €1k | €1k | ▼ 18.6% |
| Recurring financial charges65 | €420 | €1k | €1k | ▼ 18.6% |
| Profit (loss) for the period before taxes9903 | €14k | €-8k | €-3k | ▲ 56.1% |
| Income taxes67/77 | €3k | - | - | - |
| Profit (loss) for the period9904 | €12k | €-8k | €-3k | ▲ 56.1% |
| Profit (loss) for the period to be appropriated9905 | €12k | €-8k | €-3k | ▲ 56.1% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €50k | €81k | €115k | ▲ 40.7% |
| Fixed assets21/28 | €15k | €7k | €8k | ▲ 21.1% |
| Tangible fixed assets22/27 | €15k | €6k | €8k | ▲ 22.6% |
| Plant, machinery and equipment23 | €3k | €2k | €5k | ▲ 227% |
| Furniture and vehicles24 | €11k | €5k | €2k | ▼ 46.6% |
| Financial fixed assets28 | €431 | €431 | €431 | = |
| Current assets29/58 | €35k | €75k | €107k | ▲ 42.4% |
| Amounts receivable within one year40/41 | €4k | €67k | €37k | ▼ 45.3% |
| Trade receivables40 | €4k | €47k | €12k | ▼ 75.1% |
| Other amounts receivable41 | - | €20k | €25k | ▲ 25.5% |
| Cash at bank and in hand54/58 | €31k | €8k | €21k | ▲ 171% |
| Deferred charges and accrued income490/1 | - | - | €49k | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €50k | €81k | €115k | ▲ 40.7% |
| Equity10/15 | €22k | €14k | €11k | ▼ 23.7% |
| Contributions10/11 | €10k | €10k | €10k | = |
| Reserves13 | €12k | €4k | €641 | ▼ 83.8% |
| Distributable reserves133 | €12k | €4k | €641 | ▼ 83.8% |
| Amounts payable17/49 | €28k | €68k | €104k | ▲ 54.0% |
| Amounts payable after more than one year17 | - | - | €63k | - |
| Financial debts170/4 | - | - | €63k | - |
| Amounts payable within one year42/48 | €28k | €68k | €41k | ▼ 38.6% |
| Trade debts44 | €18k | €55k | €34k | ▼ 37.6% |
| Suppliers440/4 | €18k | €55k | €34k | ▼ 37.6% |
| Taxes, remuneration and social security45 | €10k | €13k | €7k | ▼ 42.7% |
| Taxes450/3 | €10k | €13k | €5k | ▼ 59.2% |
| Remuneration and social security454/9 | - | - | €2k | - |
| Other amounts payable47/48 | €94 | - | - | - |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €12k | €-8k | €-3k | ▲ 56.1% |
| + Depreciation and write-downs630 | €5k | €4k | €4k | ▼ 2.0% |
| Operating cash flow (approximation) | €16k | €-4k | €499 | ▲ 114% |
| Investment in fixed assets (approximation) | - | €5k | €-5k | ▼ 215% |
| Change in cash | - | €-23k | €13k | ▲ 158% |
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
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Liquidity doublescurrent ratio 2.57
Current ratio from 1.11 to 2.57; short-term debt falls from €68k to €41k.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
31-12
Financial
Weakest financial yearnet €-8k
Net result drops to €-8k, the lowest in the series; recovery starts the following year.
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 32 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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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, Wijnegem · 1 establishment unit since 2021
Ground area
1,110 m²
Building footprint
135 m²
Volume, LiDAR
399 m³
Parcel 11050B0263/00C006, Flanders · tallest building 8.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
TVH
since 20212.321.712.024
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11050B0263/00C006 | Flanders | 1,110 m² | 1 · 135 m² | 8.2 m · 1 fl. |
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.
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Of 4,014 companies in sector 43310 we hold annual accounts for 1,746. 1,085 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
Founded10-09-2021
Fiscal year end31-12
Activities, NACEBEL 2025
43310Plastering work
41002Construction of residential and non-residential buildings
41003General construction of other non-residential buildings
43320Joinery installation
43331Floor and wall tiling
43422Screed work
Scores and ratios are computed by Checked and are not a credit decision.