Financials
Financial year 2025
TSE TRUCK SERVICE EUROPE from Kortemark, company number BE0838724950, closed financial year 2025 with a result of € 1.7 million after tax. For that financial year TSE TRUCK SERVICE EUROPE recorded revenue of € 13.9 million and equity of € 4.4 million. Compared with financial year 2024, the result moved from € 1.9 million to € 1.7 million. The company is profitable. 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 July 15, 2026.
€ 4.4 million
▲ 18% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.7 million
▼ 7% vs 2024
Profit after tax over the fiscal year.
€ 427,106
▼ 63% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 1.1 million paid out
61 % of the profit went to the shareholders, mostly to Braem Invest (75 % of the shares). That is where the money ends up.
People and assets in 2025
7.1
▲ 0.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 419,635
€ 59,100 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.
€ 166,501
▼ 22% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 41,977
▼ 75% vs 2024
Loans from banks and other lenders, long and short.
€ 2.6 million
▼ 6% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 77 days on average.
€ 107,956
▲ 14% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | - | € 12,593,516 | € 12,665,963 | € 13,942,199 | ▲ 10% |
| Gross margin | € 2,494,373 | € 2,507,138 | - | - | |
| Profit after taxes | € 1,592,890 | € 1,543,393 | € 1,859,535 | € 1,725,569 | ▼ 7% |
| Equity | € 2,058,808 | € 2,845,344 | € 3,713,484 | € 4,385,000 | ▲ 18% |
| Total debts | € 1,854,931 | € 3,226,329 | € 4,087,708 | € 3,851,450 | ▼ 6% |
| Cash | € 162,907 | € 169,352 | € 1,139,329 | € 427,106 | ▼ 63% |
| Retained profit | € 1,958,808 | € 2,745,344 | € 3,613,484 | € 4,285,000 | ▲ 19% |
| Dividend | € 765,754 | € 756,857 | € 991,395 | € 1,054,053 | ▲ 6% |
| Bank debt | € 0 | € 0 | € 168,989 | € 41,977 | ▼ 75% |
| Balance sheet total | € 3,913,739 | € 6,071,673 | € 7,801,192 | € 8,236,450 | ▲ 6% |
| Employees (FTE) | 8.5 | 5 | 7 | 7.1 | ▲ 0.1 |
Key figures of TSE TRUCK SERVICE EUROPE, 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 TSE TRUCK SERVICE EUROPE?
What happened at TSE TRUCK SERVICE EUROPE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Braem Invest NV stepped down as director. NBB
- Immovac NV stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 1.7 million (▼ 7% vs 2024). Source: NBB ↗
- Braem Invest NV became a director. NBB
- Immovac NV became a director. NBB
- New establishment in Sombreffe. KBO
- New establishment in Kortemark. KBO
- Start of the company according to the CBE. KBO
In short
From € 1.6 million profit in 2022 to € 1.7 million profit in 2025.
Paid € 1.5 million in corporate taxes since 2022.
Best year ever: 2024, with € 1.9 million profit.
On average € 501,400 of value added per employee in 2023.
A new publication or filing at TSE TRUCK SERVICE EUROPE? 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 Braem Invest, Immovac comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
TSE TRUCK SERVICE EUROPEThe shares are held by Braem Invest (74.9%) and Immovac (25.1%).
Directors
According to the 2025 annual accounts
Managing director · represented by Johan Braem
Also active at: BRAEM, IMBRACO, MAN Brugge, Van & Truck Rental, IMMO WEST-VLAANDEREN, MAN WEST-VLAANDEREN
since 2024 · until 2029
Managing director · represented by Claire Hoste
Also active at: BRAEM, IMBRACO, MAN Brugge, Van & Truck Rental, IMMO WEST-VLAANDEREN, MAN WEST-VLAANDEREN
since 2024 · until 2029
Shareholders
74.9%
25.1%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Handzaamse Nieuwstraat 7
8610 Kortemark
Rue de la Spinette, Boig. 36
5140 Sombreffe
Active since 26 September 2011
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 4 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
- 0838.724.950
- VAT number
- BE 0838.724.950
- Registered office
- Handzaamse Nieuwstraat 7, 8610 Kortemark
- Names & denominations
- TSE TRUCK SERVICE EUROPE
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 24 August 2011
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Goederenvervoer over de weg
Rechtstreekse verzekeringsverrichtingen niet-leven
Groothandel in andere motorvoertuigen (> 3,5 ton)
Logistieke diensten
Verhuur en lease van personenauto’s en andere lichte motorvoertuigen
Vervaardiging van carrosserieën voor motorvoertuigen
Diensten in verband met vervoer te land
Groothandel in aanhangwagens, opleggers en caravans
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