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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Tight liquidity NBB
Cash and receivables cover 6 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 6.9 to 0.
Financials
Financial year 2025
TRBA IMMO from Mouscron, company number BE0434443204, closed financial year 2025 with a result of € -12,010 after tax. For that financial year TRBA IMMO recorded a gross margin of € 334,277 and equity of € 5 million. Compared with financial year 2024, the result moved from € 574,497 to € -12,010. The company made a loss. The buffer shrank hard: equity is 59 % below last year. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on August 26, 2026.
€ 5 million
▼ 59% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -12,010
▼ still € 574,497 profit in 2024
Profit after tax over the fiscal year.
€ 14,557
▼ 63% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 2.6 million.
People and assets in 2025
0
▼ 5.9 vs 2024
Average over the fiscal year, from the social balance sheet.
Debts at end 2025
€ 2.2 million
▼ 9% vs 2024
€ 158,362 is repaid this year. At this pace the long-term loan is gone in ≈ 14 years.
€ 17,368
▼ 94% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 1,516,373 | € 1,688,716 | € 1,787,106 | € 334,277 | ▼ 81% |
| Profit after taxes | € 383,198 | € 603,476 | € 574,497 | € -12,010 | ▼ € 586,507 |
| Equity | € 11,169,810 | € 11,683,286 | € 12,257,783 | € 5,017,015 | ▼ 59% |
| Total debts | € 5,226,511 | € 6,234,725 | € 7,136,358 | € 3,965,081 | ▼ 44% |
| Cash | € 52,679 | € 14,326 | € 39,431 | € 14,557 | ▼ 63% |
| Land & buildings | € 6,177,560 | € 5,997,451 | € 5,795,251 | € 5,593,052 | ▼ 3% |
| Retained profit | € 5,747,417 | € 6,260,893 | € 6,835,390 | € 2,626,067 | ▼ 62% |
| Dividend | € 0 | € 90,000 | € 0 | € 0 | |
| Bank debt | € 2,705,551 | € 2,576,800 | € 2,477,161 | € 2,249,997 | ▼ 9% |
| Balance sheet total | € 18,388,022 | € 19,870,240 | € 21,305,118 | € 8,982,096 | ▼ 58% |
| Employees (FTE) | 7.9 | 6.9 | 5.9 | 0 | ▼ 5.9 |
Key figures of TRBA IMMO, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to TRBA IMMO?
What happened at TRBA IMMO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Anne-Marie Bouckaert stepped down as director. NBB
- Mista SRL stepped down as director. NBB
- GSD INVESTS SA stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 12,010 (▼ € 586,507 vs 2024). filed late Source: NBB ↗
- Anne-Marie Bouckaert became a director. NBB
- GSD INVESTS SA became a director. NBB
- Mista SRL became a director. NBB
- New establishment in Mouscron. KBO
In short
From € 383,198 profit in 2022 to € 12,010 loss in 2025.
Paid € 572,820 in corporate taxes since 2022.
Best year ever: 2023, with € 603,476 profit.
On average € 302,900 of value added per employee in 2024.
Management
It owns 100% of Tramo itself.
Directors
According to the 2025 annual accounts
Anne-Marie Bouckaert
Director
since 2019 · until 2027
Managing director · represented by Michèle Stadsbader
Also active at: Travaux de Mouscron, TRAMOTRANS, TRBA, CAROLO RECYCLING, INFRA INVEST GROUP
since 2010 · until 2027
Managing director · represented by Pierre Stadsbader
Also active at: Travaux de Mouscron, TRBA, CAROLO RECYCLING, INFRA INVEST GROUP
since 2013 · until 2027
Establishments
Establishment units
Physical locations of this company
Industriëlaan 95 box A
7700 Mouscron
Textiellaan 11
7700 Mouscron
Active since 1 July 2004
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 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
- 0434.443.204
- VAT number
- BE 0434.443.204
- Registered office
- Industriëlaan 95 bus A, 7700 Mouscron
- Names & denominations
- TRBA IMMO
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 27 May 1988
- Peppol
- Active · Active since 19 Sept 2025
- Activities · NACE
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Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen
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