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 4 of the last 4 fiscal years.
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Tight liquidity NBB
Cash and receivables cover 51 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
TSL Belgium from Zaventem, company number BE0883305556, closed financial year 2025 with a result of € -13,307 after tax. For that financial year TSL Belgium recorded a gross margin of € 148,465 and equity of € -69,601. Compared with financial year 2024, the result moved from € 4,119 to € -13,307. 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 October 1, 2026.
€ -69,601
▼ € 13,307 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -13,307
▼ still € 4,119 profit in 2024
Profit after tax over the fiscal year.
€ 0
▼ 100% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -88,151.
People and assets in 2025
1.6
Average over the fiscal year, from the social balance sheet.
€ 157,369
▼ 55% vs 2024
€ 98,400 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.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 143,221
▲ 129% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 2,848 | € 0 | € 356,192 | € 148,465 | ▼ 58% |
| Profit after taxes | € 2,500 | € -480 | € 4,119 | € -13,307 | ▼ € 17,425 |
| Equity | € -59,932 | € -60,413 | € -56,294 | € -69,601 | ▼ € 13,307 |
| Total debts | € 59,932 | € 60,533 | € 665,808 | € 143,221 | ▼ 78% |
| Cash | € 0 | € 120 | € 6,114 | € 0 | ▼ 100% |
| Retained profit | € -78,482 | € -78,963 | € -74,844 | € -88,151 | ▼ € 13,307 |
| Bank debt | € 52,370 | € 59,585 | € 59,585 | € 0 | ▼ 100% |
| Balance sheet total | € 0 | € 120 | € 609,514 | € 73,620 | ▼ 88% |
| Employees (FTE) | 0 | - | 0 | 1.6 |
Key figures of TSL 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 TSL Belgium?
What happened at TSL Belgium in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 13,307 (▼ € 17,425 vs 2024). filed late Source: NBB ↗
- Jack English Darmstadt stepped down as director. NBB
- Jack English Darmstadt became a director. NBB
- Start of the company according to the CBE. KBO
- New establishment in Zaventem. KBO
In short
From € 2,500 profit in 2022 to € 13,307 loss in 2025.
Best year ever: 2024, with € 4,119 profit.
On average € 92,800 of value added per employee in 2025.
Management
Behind TSL Belgium are Jacqueline McDonnell and Michael McDonnell. The same people are also behind TSL BE.
Establishments
Establishment units
Physical locations of this company
Excelsiorlaan 44/46
1930 Zaventem
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
- 0883.305.556
- VAT number
- BE 0883.305.556
- Registered office
- Excelsiorlaan 44/46, 1930 Zaventem
- Names & denominations
- TSL Belgium · TSL
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 4 September 2006
- Peppol
- Active · Active since 21 Apr 2026