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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Board fully replaced NBB
No director from three years ago is still active according to annual account 2025.
Financials
Financial year 2025
TECHNICAL SERVICES GROUP BELGIUM from Turnhout, company number BE0642808013, closed financial year 2025 with a result of € 8.2 million after tax. For that financial year TECHNICAL SERVICES GROUP BELGIUM recorded revenue of € 63.8 million and equity of € 10.8 million. Compared with financial year 2024, the result moved from € 6.8 million to € 8.2 million. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on November 27, 2025.
€ 10.8 million
▲ 42% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 8.2 million
▲ 20% vs 2024
Profit after tax over the fiscal year.
€ 15.2 million
▼ 19% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 5 million paid out
61 % of the profit went to the shareholders, mostly to TSG Northern Europe Holding BV (100 % of the shares). That is where the money ends up.
People and assets in 2025
178.3
▲ 2.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 18 million
▲ 6% vs 2024
€ 100,900 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.
€ 6.3 million
▲ 1% vs 2024
Of which on lease € 6.2 million.
Debts at end 2025
€ 5.3 million
▼ 1% vs 2024
€ 1.2 million is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 15.8 million
▲ 6% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 163 days on average.
€ 8.2 million
Taxes, VAT and social contributions still to pay.
| 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|
| Revenue | € 57,093,791 | € 63,048,756 | € 63,810,420 | ▲ 1% |
| Profit after taxes | € 3,876,521 | € 6,840,117 | € 8,212,675 | ▲ 20% |
| Equity | € 4,524,383 | € 7,564,501 | € 10,777,176 | ▲ 42% |
| Total debts | € 30,153,990 | € 37,191,678 | € 36,424,806 | ▼ 2% |
| Cash | € 9,730,641 | € 18,643,680 | € 15,179,852 | ▼ 19% |
| Land & buildings | € 973,259 | € 1,007,725 | € 973,663 | ▼ 3% |
| Retained profit | € 2,662,883 | € 5,703,001 | € 8,915,676 | ▲ 56% |
| Dividend | € 7,190,000 | € 3,800,000 | € 5,000,000 | ▲ 32% |
| Bank debt | € 5,600,140 | € 5,398,901 | € 5,322,450 | ▼ 1% |
| Balance sheet total | € 36,318,648 | € 45,392,393 | € 47,584,275 | ▲ 5% |
| Employees (FTE) | 177.9 | 175.5 | 178.3 | ▲ 2.8 |
Key figures of TECHNICAL SERVICES GROUP BELGIUM, fiscal years 2023 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 November 2026.
What happened to TECHNICAL SERVICES GROUP BELGIUM?
What happened at TECHNICAL SERVICES GROUP BELGIUM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Mario Boere stepped down as director. NBB
- Jean-Marc Bianchi stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 8.2 million (▲ 20% vs 2024). Source: NBB ↗
- Bart Wouters became a director. NBB
- Mario Boere became a director. NBB
- Jean-Marc Bianchi became a director. NBB
- New establishment in Turnhout. KBO
- Start of the company according to the CBE. KBO
In short
From € 3.9 million profit in 2023 to € 8.2 million profit in 2025.
Paid € 8.3 million in corporate taxes since 2023.
Best year ever: 2025, with € 8.2 million profit.
Paid out € 16 million in dividends to the owners in total.
Management
Behind TECHNICAL SERVICES GROUP BELGIUM is Bart Wouters. The shares are held by TSG Northern Europe Holding BV (100%) and Tokheim Solutions Netherlands BV (0%).
Directors
According to the 2025 annual accounts
since 2024
Mario Boere
Director
since 2021 · until 2027
Jean-Marc Bianchi
Director
since 2020 · until 2026
Shareholders
TSG Northern Europe Holding BV
100%
Tokheim Solutions Netherlands BV
0%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Treskesdijk 7
2300 Turnhout
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0642.808.013
- VAT number
- BE 0642.808.013
- Registered office
- Treskesdijk 7, 2300 Turnhout
- Names & denominations
- TECHNICAL SERVICES GROUP BELGIUM · TSG BELGIUM
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 10 November 2015
- Peppol
- Active · Active since 29 Aug 2025
- Activities · NACE
Installatie van industriële machines, toestellen en werktuigen