The.Team: Cycling

Active

Private limited companyfounded 20179 yrs activeSint-Janstraat 9, 2800 Mechelen, BelgiumKBO/BCE: BE 0670.812.012

The computed 12-month bankruptcy probability of The.Team: Cycling is 1.6% (moderate). The 2024 annual accounts show equity of €667k and a net result of €278k. Equity is growing by ~24.5% per year across the filed fiscal years. Its solvency ranks better than 86% of 2935 sector peers (fiscal year 2024). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

82 / 100

Excellent

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability100=

Solvency95▼-5

Growth78=

Track record100

Bankruptcy probability, 12 months

1.6% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €50k at 30 days acceptable

Liquidity ample (current ratio 3.23 against 5.95 in 2023; short-term debt: 30% and cash: 77.4% of total assets), and 30% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Four signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 56

Relative position

BE, all sectors

reference

Sector 56

higher

← fewer bankruptcies more bankruptcies →

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

70%

Return on assets

29.2%

Age of the figures

21 mo

A punctual record breaks

This company filed 6 consecutive financial years on time. The year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-08-2025, 28 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.

NBB · 7 filings

Deviation from the deadline

2025

not confirmed

2024

28 d late

2023

50 d early

2022

53 d early

2021

33 d early

2020

82 d early

2019

35 d early

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, abbreviated schema

Equity

€667k▲ 71.6%

2023 · €389k

2018: €98k 2019: €191k 2020: €303k 2021: €481k 2022: €739k 2023: €389k

2018 → 2024

Total assets

€953k▲ 107%

2023 · €460k

2018: €716k 2019: €1.02M 2020: €1.33M 2021: €1.71M 2022: €2.00M 2023: €460k

2018 → 2024

Net result

€278k▲ 3.1%

2023 · €270k

2018: €73k 2019: €103k 2020: €128k 2021: €199k 2022: €258k 2023: €270k

2018 → 2024

Working capital

€639k▲ 81.3%

2023 · €352k

2018: €-244k 2019: €-60k 2020: €-71k 2021: €-71k 2022: €23k 2023: €352k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€303k-€481k▲ 58.9%€739k▲ 53.5%€389k▼ 47.4%€667k▲ 71.6%

Operating result€188k-€288k▲ 52.7%€341k▲ 18.5%€388k▲ 13.9%€413k▲ 6.5%

Net result€128k-€199k▲ 55.3%€258k▲ 29.6%€270k▲ 4.8%€278k▲ 3.1%

Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result has risen four years in a row; 2024 is 7% above 2023 and is the highest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €953k

97.0%

Fixed assets €28k▼ 22.5%

Current assets €924k▲ 118%

Equity and liabilities €953k

70.0%

30.0%

Equity €667k▲ 71.6%

Debt €286k▲ 301%

The debt ratio rises from 15.5% to 30.0%. Equity and debt are higher.

Key figures and ratios

2024 value · change against 2023

EBITDA

€427k▲

2023 · €402k

Cash flow

€292k▲

2023 · €284k

Solvency

70.0%▼

2023 · 84.5%

Current ratio

3.23▼

2023 · 5.95

Quick ratio

3.23▼

2023 · 5.95

Debt / equity

0.43▲

2023 · 0.18

ROE

41.7%▼

2023 · 69.5%

ROA

29.2%▼

2023 · 58.7%

Interest coverage

210.58▲

2023 · 21.29

Debt

€286k▲

2023 · €71k

Debt ≤ 1 year

€286k▲

2023 · €71k

Income taxes

€133k▲

2023 · €100k

Staff costs

€269k▼

2023 · €370k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€460k€953k▲

Fixed assets21/28€36k€28k▼

Tangible fixed assets22/27€36k€28k▼

Plant, machinery and equipment23€8k€3k▼

Furniture and vehicles24€28k€25k▼

Financial fixed assets28€250€250=

Current assets29/58€424k€924k▲

Amounts receivable within one year40/41€158k€180k▲

Trade receivables40€158k€180k▲

Cash at bank and in hand54/58€265k€738k▲

Deferred charges and accrued income490/1€243€7k▲

Equity and liabilities

Total equity and liabilities10/49€460k€953k▲

Equity10/15€389k€667k▲

Contributions10/11€25k€25k=

Reserves13€364k€642k▲

Distributable reserves133€364k€642k▲

Amounts payable17/49€71k€286k▲

Amounts payable within one year42/48€71k€286k▲

Trade debts44€9k€214k▲

Suppliers440/4€9k€214k▲

Taxes, remuneration and social security45€62k€72k▲

Taxes450/3€23k€36k▲

Remuneration and social security454/9€40k€36k▼

Income statement Code20232024

Non-recurring operating income76A€18k-

Remuneration, social security and pensions62€370k€269k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€13k▼

Other operating charges640/8€21k€720▼

Non-recurring operating charges66A€5k-

Gross operating margin9900€799k€697k▼

Operating profit (loss)9901€388k€413k▲

Financial income75/76B€216€129▼

Recurring financial income75€216€129▼

Financial charges65/66B€19k€2k▼

Recurring financial charges65€19k€2k▼

Profit (loss) for the period before taxes9903€370k€412k▲

Income taxes67/77€100k€133k▲

Profit (loss) for the period9904€270k€278k▲

Profit (loss) for the period to be appropriated9905€270k€278k▲

Appropriation of the result

Profit (loss) to be appropriated9906€270k€278k▲

Transfer from equity791/2€620k-

Transfer to equity691/2€270k€278k▲

To other reserves6921€270k€278k▲

Profit to be distributed694/7€620k-

Return on contributions (dividend)694€620k-

Social balance

Average headcount (FTE)90873.83.0▼

The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 13Financial 6Filings 7

2025

28-08

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema · 28 days late

2024

31-12

Financial Highest result since 2018net €278k ▲3.1%

Operating result €413k, net result €278k, both a record.

31-12

Financial Equity above €500kEq €667k ▲71.6%

7 profitable years in a row build equity to €667k.

11-06

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

31-12

Financial Liquidity times 5current ratio 5.95

Current ratio from 1.12 to 5.95; short-term debt falls from €195k to €71k.

08-06

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

31-12

Financial Equity above €500kEq €739k ▲53.5%

5 profitable years in a row build equity to €739k.

28-06

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2021

10-05

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

31-12

Financial Equity above €200kEq €303k ▲58.5%

3 profitable years in a row build equity to €303k.

26-06

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2019

31-12

Financial Equity above €150kEq €191k ▲95%

2 profitable years in a row build equity to €191k.

11-06

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

6 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, Mechelen · 1 establishment unit since 2021

establishment The establishment unit on the map

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.

Sint-Janstraat 92800 Mechelen

Ground area

99 m²

Building footprint

88 m²

Volume, LiDAR

940 m³

Parcel 12025B0171/00E000, Flanders · tallest building 12.8 m, ±4 floors. Linked by address, not a title deed.

1 establishment unit

Wasserman Cycling

Sint-Janstraat 9, 2800 MechelenEvent catering

since 20212.315.246.874

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
12025B0171/00E000 ProtectedMonument · Townscape or village viewGoswin de Stassartstraat en aanpalende stratenSource ↗	Flanders	99 m²	1 · 88 m²	12.8 m · 4 fl.