Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 7.9 to 6.3.
Financials
Financial year 2025
T-HL BELGIUM from Brugge, company number BE0439188581, closed financial year 2025 with a result of € 71,172 after tax. For that financial year T-HL BELGIUM recorded a gross margin of € 598,289 and equity of € 1.4 million. Compared with financial year 2024, the result moved from € 45,691 to € 71,172. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on January 14, 2026.
€ 1.4 million
▲ 5% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 71,172
▲ 56% vs 2024
Profit after tax over the fiscal year.
€ 2.3 million
▼ 3% 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 € -595,164.
People and assets in 2025
6.3
▼ 0.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 458,442
▲ 14% vs 2024
€ 72,800 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.
€ 441
▼ 67% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 331,148
▼ 10% vs 2024
€ 301,190 is repaid this year. At this pace the long-term loan is gone in ≈ 1 years.
€ 535,840
▲ 178% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 46,649
▲ 23% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 557,917 | € 578,533 | € 553,572 | € 598,289 | ▲ 8% |
| Profit after taxes | € 139,019 | € 70,611 | € 45,691 | € 71,172 | ▲ 56% |
| Equity | € 1,217,361 | € 1,287,972 | € 1,333,664 | € 1,404,836 | ▲ 5% |
| Total debts | € 1,861,955 | € 1,759,086 | € 1,359,683 | € 1,247,502 | ▼ 8% |
| Cash | € 2,696,610 | € 2,654,192 | € 2,338,439 | € 2,264,443 | ▼ 3% |
| Retained profit | € -782,639 | € -712,028 | € -666,336 | € -595,164 | ▲ € 71,172 |
| Bank debt | € 172,000 | € 375,470 | € 366,670 | € 331,148 | ▼ 10% |
| Balance sheet total | € 3,079,316 | € 3,047,058 | € 2,693,346 | € 2,652,337 | ▼ 2% |
| Employees (FTE) | 8.8 | 7.9 | 6.5 | 6.3 | ▼ 0.2 |
Key figures of T-HL BELGIUM, 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 T-HL BELGIUM?
What happened at T-HL BELGIUM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 71,172 (▲ 56% vs 2024). Source: NBB ↗
- New establishment in Brugge. KBO
- Start of the company according to the CBE. KBO
In short
From € 139,019 profit in 2022 to € 71,172 profit in 2025.
Paid € 6,795 in corporate taxes since 2022.
Best year ever: 2022, with € 139,019 profit.
On average € 95,000 of value added per employee in 2025.
A new publication or filing at T-HL BELGIUM? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of T-HL International comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
T-HL BELGIUMBehind T-HL BELGIUM is Icsonviva BV. The shares are held by T-HL International (100%).
Directors
According to the 2025 annual accounts
Managing director · represented by Kurt De Vreese
Also active at: Square Equity, T-HL International
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Sint-Jakobsstraat 52
8000 Brugge
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 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
- 0439.188.581
- VAT number
- BE 0439.188.581
- Registered office
- Sint-Jakobsstraat 52, 8000 Brugge
- Names & denominations
- T-HL BELGIUM · Transeurope, Transasia, Holiday Line en Go Chic
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 12 December 1989
- Peppol
- Active · Active since 22 Dec 2025
- Activities · NACE
Reisorganisatoren
Activiteiten van reisorganisatoren