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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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Tight liquidity NBB
Cash and receivables cover 7 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
TRACE from Waterloo, company number BE0436990839, closed financial year 2025 with a result of € 38,217 after tax. For that financial year TRACE recorded a gross margin of € 123,169 and equity of € -247,571. Compared with financial year 2024, the result moved from € 33,658 to € 38,217. Profitable, and profit is growing. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on April 10, 2026.
€ -247,571
▲ € 38,217 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 38,217
▲ 14% vs 2024
Profit after tax over the fiscal year.
€ 60,648
▼ 19% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -309,571.
People and assets in 2025
€ 53,908
▲ € 52,671 vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 55,275
▼ 18% vs 2024
€ 8,261 is repaid this year. At this pace the long-term loan is gone in ≈ 7 years.
€ 16,623
▲ 52% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 15,004
▲ 15% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 99,218 | € 102,263 | € 118,688 | € 123,169 | ▲ 4% |
| Profit after taxes | € 20,385 | € 21,237 | € 33,658 | € 38,217 | ▲ 14% |
| Equity | € -340,684 | € -319,446 | € -285,788 | € -247,571 | ▲ € 38,217 |
| Total debts | € 1,020,935 | € 968,092 | € 915,960 | € 864,272 | ▼ 6% |
| Cash | € 61,664 | € 89,799 | € 75,122 | € 60,648 | ▼ 19% |
| Land & buildings | € 350,881 | € 339,479 | € 328,077 | € 321,325 | ▼ 2% |
| Retained profit | € -402,684 | € -381,446 | € -347,788 | € -309,571 | ▲ € 38,217 |
| Bank debt | € 150,845 | € 109,352 | € 67,231 | € 55,275 | ▼ 18% |
| Balance sheet total | € 680,251 | € 648,646 | € 630,172 | € 616,701 | ▼ 2% |
Key figures of TRACE, 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 TRACE?
What happened at TRACE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Dominique Vanderhofstadt stepped down as director. NBB
- Francis Rose stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 38,217 (▲ 14% vs 2024). Source: NBB ↗
- Dominique Vanderhofstadt became a director. NBB
- Francis Rose became a director. NBB
- New establishment in Waterloo. KBO
- Start of the company according to the CBE. KBO
In short
From € 20,385 profit in 2022 to € 38,217 profit in 2025.
Paid € 33,017 in corporate taxes since 2022.
Best year ever: 2025, with € 38,217 profit.
Management
Directors
According to the 2025 annual accounts
Dominique Vanderhofstadt
Director
since 2025 · until 2031
Francis Rose
Director
since 2025 · until 2031
Establishments
Establishment units
Physical locations of this company
Drève des Chataigniers 22
1410 Waterloo
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0436.990.839
- VAT number
- BE 0436.990.839
- Registered office
- Drève des Chataigniers 22, 1410 Waterloo
- Names & denominations
- TRACE
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 15 January 1989
- Peppol
- Active · Active since 5 Dec 2025
- Activities · NACE
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