Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 42 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 13 to 6.4.
Financials
Financial year 2025
TB-D from Zulte, company number BE0413268795, closed financial year 2025 with a result of € -338,447 after tax. For that financial year TB-D recorded a gross margin of € 181,616 and equity of € 256,604. Compared with financial year 2024, the result moved from € -168,519 to € -338,447. The company made a loss. The buffer shrank hard: equity is 57 % below last year. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on April 30, 2026.
€ 256,604
▼ 57% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -338,447
▼ 101 % more loss than in 2024
Profit after tax over the fiscal year.
€ 601
▼ 98% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 194,001.
People and assets in 2025
6.4
▼ 6 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 458,723
▼ 41% vs 2024
€ 71,700 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 30,152
▼ 28% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 481,018
▼ 13% vs 2024
€ 72,779 is repaid this year. At this pace the long-term loan is gone in ≈ 1 years.
€ 128,071
▼ 67% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 92,629
▼ 24% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 601,015 | € 969,926 | € 418,804 | € 181,616 | ▼ 57% |
| Profit after taxes | € 4,828 | € 173,908 | € -168,519 | € -338,447 | ▼ € 169,927 |
| Equity | € 759,662 | € 763,570 | € 595,051 | € 256,604 | ▼ 57% |
| Total debts | € 1,445,047 | € 1,605,793 | € 1,069,826 | € 719,743 | ▼ 33% |
| Cash | € 93,582 | € 168,596 | € 38,578 | € 601 | ▼ 98% |
| Retained profit | € 697,059 | € 700,967 | € 532,448 | € 194,001 | ▼ 64% |
| Dividend | € 100,000 | € 170,000 | € 0 | € 0 | |
| Bank debt | € 763,128 | € 624,373 | € 555,508 | € 481,018 | ▼ 13% |
| Balance sheet total | € 2,404,709 | € 2,569,363 | € 1,664,877 | € 976,347 | ▼ 41% |
| Employees (FTE) | 13.5 | 13 | 12.4 | 6.4 | ▼ 6 |
Key figures of TB-D, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 April 2027.
What happened to TB-D?
What happened at TB-D in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 338,447. Source: NBB ↗
- New establishment in Kontich. KBO
- Start of the company according to the CBE. KBO
In short
From € 4,828 profit in 2022 to € 338,447 loss in 2025.
Paid € 29,917 in corporate taxes since 2022.
Best year ever: 2023, with € 173,908 profit.
On average € 28,400 of value added per employee in 2025.
Management
The stake of P & T Trust, JUSTASTONE comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
TB-DBehind TB-D is P & T Trust BV. The shares are held by P & T Trust (100%) and JUSTASTONE (100%).
Directors
According to the 2025 annual accounts
Director · represented by Tanguy Van Quickenborne
Shareholders
100%
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Statiestraat 69
9870 Zulte
Koningin Astridlaan 58 box A
2550 Kontich
Active since 1 August 1973
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0413.268.795
- VAT number
- BE 0413.268.795
- Registered office
- Statiestraat 69, 9870 Zulte
- Names & denominations
- TB-D
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 23 May 1973
- Peppol
- Active · Active since 21 Oct 2026
- Activities · NACE
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