Equity
-€101,443
Debts exceed assets in financial year 2025.
TVO LOGISTICS
Lifetime
9 annual accounts with figures on one time axispeak €185,921 (2025)
€185,921▲ 24.2%
lowest -€101,341 (2024)
€13,521▲ €114,862
peak €35,915 (2020)
-€101,443▲ €13,521
€141,124▼ 30.2%
peak 3.3 FTE (2019)
2 FTEunchanged
Board3 names since 2016
1 directorTRAVHOLDING SRL
Owners
99%TRAVHOLDING
Documentsfilings and deeds
29-05-202663 days before the deadline
2025financial year
Gross margin from €149,682 to €185,921Back to profit: €13,521Registered office moved within Herstal 04-12Resignation: Jamin Geraldine (director) 14-01Debts from €202,181 to €141,124
Key points
from the 2025 annual accountsResult
€13,521 €13,521
Back in profit in 2025, after a loss of €101,341 in 2024.
Turnover
≈ €460,000 estimated
The accounts state no turnover.
Debts
€141,124 356% of the balance sheet
Suppliers 28%Taxes and wages 32%Other 40%
Filings
9 annual accounts since 2017
The last five annual accounts were filed 63 to 118 days before the end of the period.
Position in the sector
-255.6%
Lower solvency than 95% of companies in land transport. Sector median 40.1% · 1,085 companies.
Checked score
34
Weak
Financially stronger than 38% of micro companies in land transport (NACE 49)
Probability in this band: 4.2% to 15.0%
Bankruptcy probability within 12 months
8.2% Elevated
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.8% across 9,092 companies (NACE 49, micro).
About 8 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 2.6%
01-2025: 2.6%● unchanged vs 12-2024
02-2025: 2.5%▼ -0.1 percentage points vs 01-2025lowest value
03-2025: 2.5%● unchanged vs 02-2025lowest value
04-2025: 2.6%▲ +0.1 percentage points vs 03-2025
05-2025: 6.5%▲ +3.9 percentage points vs 04-2025
06-2025: 6.5%● unchanged vs 05-2025
07-2025: 6.5%● unchanged vs 06-2025
08-2025: 6.5%● unchanged vs 07-2025
09-2025: 6.5%● unchanged vs 08-2025
10-2025: 6.5%● unchanged vs 09-2025
11-2025: 6.5%● unchanged vs 10-2025
12-2025: 6.5%● unchanged vs 11-2025
01-2026: 7.8%▲ +1.3 percentage points vs 12-2025
02-2026: 7.8%● unchanged vs 01-2026
03-2026: 7.6%▼ -0.2 percentage points vs 02-2026
04-2026: 7.9%▲ +0.3 percentage points vs 03-2026
05-2026: 8.2%▲ +0.3 percentage points vs 04-2026highest value
06-2026: 3.7%▼ -4.5 percentage points vs 05-2026
07-2026: 3.7%● unchanged vs 06-2026
08-2026: 3.7%● unchanged vs 07-2026
09-2026: 3.7%● unchanged vs 08-2026
10-2026: 8.2%▲ +4.5 percentage points vs 09-2026
11-2026: 8.2%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
2 changes of registered office in 24 months
Negative equity -€101,443
Sector: Land transport and transport via pipelines (NACE 49)
Liquidity: current ratio 0.12, cash €730
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 49, micro). It does better than 5% of them on solvency, 5% on liquidity, 85% on profitability and 57% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 3,632 companies had the same profile as TVO LOGISTICS has now. Each dot stands for 10 companies, two years later.
91.8%
were still trading
4.8%
stopped another way
2.9%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of TVO LOGISTICS itself is higher: 8.2% within 12 months. It rests on far more data about TVO LOGISTICS than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,632 companies, not a prediction for TVO LOGISTICS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.12 (0.21 in 2024), below 1. Short-term debt is 355.6% and cash 1.8% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
raises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 1085 sector peers (2025).
NBB · sector comparisonPosition among 1085 sector peers
Solvency
better than 5%
← weakest
strongest →
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 29-05-2026, 63 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
63 days early
2024
111 days early
2023
92 days early
2022
118 days early
2021
79 days early
2020
60 days early
2019
99 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 89 days before the deadline. In the sector (NACE 49), the median for financial year 2024 was on the deadline day, and 49% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 1 May (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- TRAVHOLDING 99%score 53equity -€313,556 (2025) · 2025 annual accounts of TRAVHOLDING
Recent changes
Registered office moved within Herstal
New registered office: Rue de l'Abbaye 10, 4040 Herstal · Previous registered office: Parc Ind. des Hauts Sarts, 4e av 46, 4040 Herstal · General meeting of 22-09-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0663671426
Registered office moved within Herstal
New registered office: quatrième avenue, 46 à 4040 Herstal · Previous registered office: Rue de l'Abbaye 8 à 4040 Herstal · General meeting of 12-11-2025 · Gazette deed
Resignation: Jamin Geraldine (director)
General meeting of 17-12-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| TVO LOGISTICS Herstal | €39,682 | €185,921 | -255.6% | 2 |
| GTK BELGIUM Brussels | €60,473 | €174,376 | 0.1% | 3.2 |
| ODS ORIENT BELGIUM Schaerbeek | €59,409 | €192,103 | 49.4% | 2 |
| RICH.COMPANY Berchem-Sainte-Agathe | €62,351 | €86,337 | 15.3% | 1.3 |
| Wouters Logistics Aartselaar | €78,270 | €134,363 | 24.8% | 1.8 |
| NILI TRANS Grimbergen | €36,845 | €63,220 | -49.8% | 1 |
| DILISSEN TRANSPORT Pelt | €112,593 | €163,914 | 51.8% | 1 |
These companies have the same main activity as TVO LOGISTICS: freight transport by road (NACE 49410). They are comparable in size and age: total assets between €36,800 and €113,000, founded between 2011 and 2021.
Official details
Source: KBO- Status
- Active since 30-09-2016Normal situation
- Activity
- Freight transport by roadNACE 49410and 6 others
- Joint committees
- 226White-collar workers in international trade, transport and logistics
- 140Transport and logistics · annual accounts 2024
- Establishment unit
- 2.257.171.2914040 Herstal, since 30-09-2016
- Financial year end
- 31 December
- Peppol
- Reachable since 12-03-2026
Annual accounts 2025
- €39,682▼ 54.5%
- Employeeson 31-12-2025
- 2=
- Filing
- Filed on 29-05-2026, 63 days before the end of the filing period
Insights on TVO LOGISTICS
TVO LOGISTICS has existed since 2016. The gross margin grew from €107,210 in 2017 to €185,921 in 2025 and staff from 0.5 to 2 full-time equivalents.
The gross margin has grown every year since 2022. Solvency fell in 2025 from -131.8% to -255.6%.
TRAVHOLDING holds 99% of the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about TVO LOGISTICS
- What is the company number of TVO LOGISTICS?
- The company number of TVO LOGISTICS is 0663.671.426. The VAT number is the same number with BE in front: BE 0663.671.426.
- Where is TVO LOGISTICS based?
- The registered office is at Rue de l'Abbaye 10, 4040 Herstal.Company details
- What does TVO LOGISTICS do?
- According to the KBO register, the main activity is freight transport by road (NACE 49410).
- What is the legal form of TVO LOGISTICS?
- TVO LOGISTICS is a private limited company (BV).
- When was TVO LOGISTICS founded?
- TVO LOGISTICS was founded on 30-09-2016.
- Is TVO LOGISTICS still active?
- Yes, TVO LOGISTICS is an active enterprise in the KBO register.
- How many employees does TVO LOGISTICS have?
- TVO LOGISTICS had an average of 2 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does TVO LOGISTICS fall under?
- In its 2024 annual accounts, TVO LOGISTICS states joint committees 226 (White-collar workers in international trade, transport and logistics) and 140 (Transport and logistics).
- What is the turnover of TVO LOGISTICS?
- The turnover in financial year 2025 is ≈ €460,000. This figure is estimated from the gross margin of €185,921 and 78 comparable companies (NACE 49410). It probably lies between €400,000 and €640,000.
- Is TVO LOGISTICS profitable?
- In financial year 2025, TVO LOGISTICS made a profit of €13,521.
- Where can I find the annual accounts of TVO LOGISTICS?
- TVO LOGISTICS filed 9 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of TVO LOGISTICS due?
- TVO LOGISTICS must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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