Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 1 of the last 4 fiscal years.
-
Tight liquidity NBB
Cash and receivables cover 27 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Trico Belgium from Aubange, company number BE0451868065, closed financial year 2025 with a result of € -79.4 million after tax. For that financial year Trico Belgium recorded revenue of € 73.6 million and equity of € -24.9 million. Compared with financial year 2024, the result moved from € 3 million to € -79.4 million. The company made a loss. 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 July 15, 2026.
€ -24.9 million
▼ € 79.4 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -79.4 million
▼ still € 3 million profit in 2024
Profit after tax over the fiscal year.
€ 1 million
▼ 52% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -106.6 million.
People and assets in 2025
197.3
▲ 21.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 16.6 million
▲ 11% vs 2024
€ 84,300 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.
€ 38,166
▼ 29% vs 2024
Of which on lease € 22,863.
Debts at end 2025
€ 7.5 million
▲ 61% vs 2024
€ 26,861 is repaid this year. At this pace the long-term loan is gone in ≈ 1 years.
€ 39.6 million
▲ 50% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 243 days on average.
€ 3.5 million
▲ 13% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 62,585,029 | € 68,230,943 | € 70,694,789 | € 73,584,111 | ▲ 4% |
| Profit after taxes | € 2,193,005 | € 1,036,917 | € 2,966,598 | € -79,434,244 | ▼ € 82.4 million |
| Equity | € 18,995,571 | € 20,032,487 | € 54,495,052 | € -24,939,192 | ▼ € 79.4 million |
| Total debts | € 24,871,839 | € 29,920,236 | € 34,357,439 | € 50,653,279 | ▲ 47% |
| Cash | € 370,674 | € 1,095,743 | € 2,172,937 | € 1,032,166 | ▼ 52% |
| Land & buildings | € 116,784 | € 116,784 | € 116,784 | € 116,784 | |
| Retained profit | € -31,166,429 | € -30,129,513 | € -27,162,915 | € -106,597,159 | ▼ € 79.4 million |
| Bank debt | € 7,236,200 | € 5,549,401 | € 4,687,632 | € 7,526,416 | ▲ 61% |
| Balance sheet total | € 43,956,314 | € 49,969,686 | € 88,852,491 | € 25,714,087 | ▼ 71% |
| Employees (FTE) | 191.7 | 183.2 | 176 | 197.3 | ▲ 21.3 |
Key figures of Trico 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 31 July 2027.
What happened to Trico Belgium?
What happened at Trico Belgium in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Shekhar Kumar stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 79.4 million (▼ € 82.4 million vs 2024). Source: NBB ↗
- Stephen Graham stepped down as director. NBB
- Dave Parker stepped down as director. NBB
- Michael Baker stepped down as director. NBB
- Stephen Graham became a director. NBB
- Dave Parker became a director. NBB
- Michael Baker became a director. NBB
In short
From € 2.2 million profit in 2022 to € 79.4 million loss in 2025.
Paid € 396,883 in corporate taxes since 2022.
Best year ever: 2024, with € 3 million profit.
A new publication or filing at Trico 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
Directors
According to the 2025 annual accounts
Dave Parker
Director
since 2024 · until 2025
Stephen Graham
Director
since 2025 · until 2025
Michael Baker
Director
since 2021 · until 2025
Shekhar Kumar
Director
since 2021 · until 2027
Establishments
Establishment units
Physical locations of this company
Rue Marie Curie 6
6790 Aubange
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0451.868.065
- VAT number
- BE 0451.868.065
- Registered office
- Rue Marie Curie 6, 6790 Aubange
- Names & denominations
- Trico Belgium
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 28 January 1994
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
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