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 2 of the last 3 fiscal years.
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Two loss years in a row NBB
Negative result in 2022 and 2023.
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Tight liquidity NBB
Cash and receivables cover 20 % of short-term debt in 2023; threshold 65 %.
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Legal situation KBO
Opening faillissement according to the CBE.
Financials
Financial year 2023
TRANSFORCE from Hasselt, company number BE0660951565, closed financial year 2023 with a result of € -1.6 million after tax. For that financial year TRANSFORCE recorded a gross margin of € -418,508 and equity of € -678,136. Compared with financial year 2022, the result moved from € -976,896 to € -1.6 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 August 31, 2024.
€ -678,136
▼ € 434,637 vs 2022
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -1.6 million
▼ 66 % more loss than in 2022
Profit after tax over the fiscal year.
€ 12,174
▼ 67% vs 2022
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -2.8 million.
People and assets in 2023
24.3
▲ 13 vs 2022
Average over the fiscal year, from the social balance sheet.
€ 1 million
▲ 118% vs 2022
€ 41,700 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.
€ 321,576
▲ 31% vs 2022
Of which on lease € 214,895.
Debts at end 2023
€ 538,000
▲ 19% vs 2022
€ 128,665 is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 340,444
▲ 92% vs 2022
Supplier invoices still open on the last day of the fiscal year.
€ 455,934
▲ 247% vs 2022
Taxes, VAT and social contributions still to pay.
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| 2021 | 2022 | 2023 | Change 2022 → 2023 | |
|---|---|---|---|---|
| Gross margin | € 9,792 | € -399,337 | € -418,508 | ▼ € 19,171 |
| Profit after taxes | € -206,054 | € -976,896 | € -1,618,989 | ▼ € 642,094 |
| Equity | € 27,286 | € -243,499 | € -678,136 | ▼ € 434,637 |
| Total debts | € 285,893 | € 773,359 | € 1,355,279 | ▲ 75% |
| Cash | € 46,567 | € 37,061 | € 12,174 | ▼ 67% |
| Retained profit | € -167,804 | € -1,144,699 | € -2,763,688 | ▼ € 1.6 million |
| Bank debt | € 213,020 | € 451,018 | € 538,000 | ▲ 19% |
| Balance sheet total | € 313,179 | € 529,860 | € 677,143 | ▲ 28% |
| Employees (FTE) | - | 11.3 | 24.3 | ▲ 13 |
Key figures of TRANSFORCE, fiscal years 2021 to 2023, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2024 has not been filed yet; it was expected before 31 July 2025.
What happened to TRANSFORCE?
What happened at TRANSFORCE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
TRANSFORCE is active according to the CBE. Legal situation: Opening faillissement.
- New annual accounts for financial year 2023: loss of € 1.6 million. filed late Source: NBB ↗
- Nick Hufkens became a director. NBB
- Bart Van Minnebruggen became a director. NBB
- VDL INVESTMENTS BV stepped down as director. NBB
- Daniël Paul Marie-Thérès LUYCK stepped down as director. NBB
- THEMICO BV became a director. NBB
- BLASTR BV became a director. NBB
- Jasdeep Mann became a director. NBB
In short
From € 206,054 loss in 2021 to € 1.6 million loss in 2023.
Paid € 789 in corporate taxes since 2021.
A new publication or filing at TRANSFORCE? 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 VDL Investments comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
TRANSFORCEBehind TRANSFORCE are THEMICO BV, Nick Hufkens, BLASTR BV, Jasdeep Mann and Bart Van Minnebruggen. The shares are held by VDL Investments (20.1%).
Directors
According to the 2023 annual accounts
Director · represented by Michel Bernard Désiré DE GEEST
since 2022
Nick Hufkens
Director
since 2023
since 2022
Jasdeep Mann
Managing director
since 2022
Bart Van Minnebruggen
Director
Also active at: Petgamma, Out2Send, Stuntwinkel, Project Pluto, BV@hoMe
since 2023
Director · represented by Joren VERCAIGNIE
since 2022 · until 2023
Daniël Paul Marie-Thérès LUYCK
Director
since 2022 · until 2023
Shareholders
20.1%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Walenstraat 63A
3500 Hasselt
Waalkens 13 box D
9030 Gent
Active since 1 July 2022
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0660.951.565
- VAT number
- BE 0660.951.565
- Registered office
- Walenstraat 63A, 3500 Hasselt
- Names & denominations
- TRANSFORCE
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Opening faillissement
- Start date
- 17 August 2016
- Peppol
- Not registered
- Activities · NACE
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