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 4 of the last 4 fiscal years.
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Tight liquidity NBB
Cash and receivables cover 26 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
TERCADES from Chaudfontaine, company number BE0775412060, closed financial year 2025 with a result of € 36,472 after tax. For that financial year TERCADES recorded a gross margin of € 62,443 and equity of € -20,032. Compared with financial year 2024, the result moved from € -10,233 to € 36,472. 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 August 7, 2026.
€ -20,032
▲ € 36,472 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 36,472
▲ still € 10,233 loss in 2024
Profit after tax over the fiscal year.
€ 1,423
▼ 81% 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 € -22,032.
Debts at end 2025
€ 1.1 million
▼ 21% vs 2024
Loans from banks and other lenders, long and short.
€ 91
▲ 29% vs 2024
Supplier invoices still open on the last day of the fiscal year.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -1,276 | € 29,129 | € 83,561 | € 62,443 | ▼ 25% |
| Profit after taxes | € -20,644 | € -15,557 | € -10,233 | € 36,472 | ▲ € 46,705 |
| Equity | € -30,713 | € -46,270 | € -56,503 | € -20,032 | ▲ € 36,472 |
| Total debts | € 1,156,350 | € 842,252 | € 1,921,758 | € 1,605,596 | ▼ 16% |
| Cash | € 4,715 | € 2,872 | € 7,603 | € 1,423 | ▼ 81% |
| Retained profit | € -32,713 | € -48,270 | € -58,503 | € -22,032 | ▲ € 36,472 |
| Bank debt | € 609,865 | € 442,206 | € 1,379,607 | € 1,090,475 | ▼ 21% |
| Balance sheet total | € 1,125,637 | € 795,982 | € 1,865,254 | € 1,585,564 | ▼ 15% |
Key figures of TERCADES, 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 TERCADES?
What happened at TERCADES in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 36,472. filed late Source: NBB ↗
- New establishment in Chaudfontaine. KBO
- Start of the company according to the CBE. KBO
In short
From € 20,644 loss in 2022 to € 36,472 profit in 2025.
Best year ever: 2025, with € 36,472 profit.
A new publication or filing at TERCADES? 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
Behind TERCADES are GREGORY GILTAY, MAXIME HOUGARDY and XK INVEST SRL. The same people are also behind "ARCADES RED". GREGORY GILTAY is also behind Tisserands Development and ARCALAND. MAXIME HOUGARDY is also behind MHO.O.D.. XK INVEST SRL is also behind MAJESTIC, STUDENTSTATION and K2S Invest.
Directors
According to the 2025 annual accounts
Establishments
Establishment units
Physical locations of this company
Rue Auguste Nève 25
4052 Chaudfontaine
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
- 0775.412.060
- VAT number
- BE 0775.412.060
- Registered office
- Rue Auguste Nève 25, 4052 Chaudfontaine
- Names & denominations
- TERCADES
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 6 October 2021
- Peppol
- Active · Active since 16 Nov 2021
- Contact
- [email protected] +32470977513