ACTIVE

TRANS - FORM

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Financial year 2025 · closed on 31/12/2025

Net result

-45,8 k €

-87.7% YoY

Gross margin

-32,8 k €

-44.9% YoY

Equity

930,4 k €

-4.7% YoY

What does TRANS - FORM do?

TRANS - FORM is a Public limited company incorporated in 1973. Its main activity is: Construction of buildings. Its registered office is in Liège.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0413.674.316

Incorporation

04/10/1973

Legal form

Public limited company

Registered office

Avenue de la Laiterie 30
4000 Liège · WallonieSee on map

Contributed capital

92 718,31 €

Latest accounts

31/12/2025

Activities (NACE)

41001Construction of buildings· main 41201Construction of residential and non-residential buildings

Signals

Solid equity

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	-32,8 k €	-44.9%	-22,7 k €	-104%	528,4 k €	+75.6%	301 k €	+272%	-174,6 k €	-2661%	6,8 k €	-88.0%	56,6 k €	+25.4%	45,2 k €	-13.7%	52,3 k €	-8.7%	57,3 k €	+54.0%	37,2 k €	-34.3%	56,6 k €	-4.8%	59,4 k €	+80.8%	32,9 k €	+330%	-14,3 k €	-287%	7,6 k €	-56.6%	17,6 k €	+136%	7,5 k €	-98.3%	432,1 k €	-32.5%	639,7 k €
EBITDA	-37,4 k €	-32.5%	-28,3 k €	-105%	523,9 k €	+75.8%	298 k €	+264%	-181,4 k €	-23505%	-768,6 €	-102%	49 k €	+28.8%	38,1 k €	-16.4%	45,5 k €	-10.0%	50,6 k €	+64.0%	30,9 k €	-38.5%	50,2 k €	-6.4%	53,6 k €	+97.0%	27,2 k €	+245%	-18,7 k €	-639%	3,5 k €	-73.3%	13 k €	+333%	3 k €	-99.3%	427,4 k €	-31.9%	628 k €
Operating result	-49,1 k €	-24.0%	-39,6 k €	-108%	509,7 k €	+78.9%	284,9 k €	+242%	-200,6 k €	-764%	-23,2 k €	-227%	18,2 k €	+16.2%	15,7 k €	-39.0%	25,7 k €	-16.5%	30,8 k €	+480%	5,3 k €	-82.8%	30,7 k €	-12.0%	35 k €	+308%	8,6 k €	+123%	-36,8 k €	-488%	-6,3 k €	-207%	5,9 k €	+223%	-4,8 k €	-101%	419,6 k €	-30.5%	603,6 k €
Net result	-45,8 k €	-87.7%	-24,4 k €	-107%	350,3 k €	+92.4%	182,1 k €	+233%	54,6 k €	+371%	-20,1 k €	-277%	11,4 k €	-4.5%	11,9 k €	+387%	2,4 k €	-88.0%	20,4 k €	+5292%	-392,9 €	-102%	19,2 k €	-20.4%	24,1 k €	-76.9%	104,4 k €	+396%	-35,2 k €	-641%	-4,8 k €	-126%	18,2 k €	+437%	3,4 k €	-98.9%	296,7 k €	-23.4%	387,5 k €
Balance sheet
Equity	930,4 k €	-4.7%	976,1 k €	-2.4%	1 M €	+53.9%	650,2 k €	+38.9%	468,1 k €	+13.2%	413,5 k €	-4.6%	433,6 k €	+2.7%	422,3 k €	+2.9%	410,4 k €	+3.1%	398,2 k €	+5.4%	377,8 k €	-0.1%	378,2 k €	+5.3%	359 k €	+7.2%	334,9 k €	+45.3%	230,6 k €	-11.8%	261,3 k €	-1.8%	266 k €	+7.4%	247,8 k €	-83.5%	1,5 M €	+24.6%	1,2 M €
Total assets	1,3 M €	-4.9%	1,4 M €	-0.5%	1,4 M €	-31.9%	2 M €	+44.8%	1,4 M €	+32.9%	1,1 M €	+30.2%	812,4 k €	+20.5%	674,1 k €	-4.6%	706,7 k €	-3.6%	733,3 k €	-1.2%	742,3 k €	+5.1%	706,4 k €	+0.3%	704,2 k €	-21.2%	894,1 k €	+59.3%	561,4 k €	+70.9%	328,4 k €	-1.2%	332,4 k €	+4.7%	317,6 k €	-83.2%	1,9 M €	+29.7%	1,5 M €
Cash	3,7 k €	-96.8%	116,4 k €	-56.7%	269 k €	+35.1%	199,1 k €	+4140%	4,7 k €	+183%	1,7 k €	-93.1%	23,8 k €	-55.0%	52,9 k €	-49.8%	105,4 k €	-10.5%	117,8 k €	+2.9%	114,5 k €	-51.6%	236,5 k €	+8.1%	218,9 k €	-44.0%	390,6 k €	+913%	38,5 k €	+66.5%	23,1 k €	-27.2%	31,8 k €	+217%	10 k €	-99.4%	1,6 M €	+119%	719,2 k €
Debts	327,2 k €	-5.1%	344,8 k €	+6.9%	322,6 k €	-75.5%	1,3 M €	+52.2%	866,3 k €	+52.2%	569,1 k €	+90.0%	299,6 k €	+78.0%	168,3 k €	-19.3%	208,4 k €	-12.2%	237,4 k €	-10.5%	265,1 k €	+16.7%	227,2 k €	-5.7%	240,8 k €	-47.1%	454,9 k €	+64.4%	276,7 k €	+3938%	6,9 k €	+35.8%	5 k €	-40.7%	8,5 k €	-23.9%	11,2 k €	-32.3%	16,5 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 8 ended

Active mandates

Milla DE RAIKEM

Director · since 19 juin 2023 · until 17 avril 2029

Active

Simon DE RAIKEM

Director · since 19 juin 2023 · until 17 avril 2029

Active

Yves DE RAIKEM

Managing director · since 19 juin 2023 · until 17 avril 2029

Active

Ended mandates

Philippe DE RAIKEM

Managing director · since 26 juin 2017 · until 17 avril 2023

Ended

Philippe DE RAIKEM

Managing director · since 26 juin 2017 · until 19 juin 2023

Ended

Yves DE RAIKEM

Managing director · since 26 juin 2017 · until 17 avril 2023

Ended

Philippe DE RAIKEM

Managing director · since 20 juin 2011 · until 17 avril 2017

Ended

At this address

Other companies at this address

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EUH● Active	0768.886.732
M.D.S. IMMO● Active	0667.716.821
SODRY● Active	0441.132.145
SOTRANCO● Active	0725.926.422

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	10/07/2026	14/07/2025	05/07/2024	30/10/2023	28/08/2022	30/08/2021
General meeting	15/06/2026	16/06/2025	17/06/2024	19/06/2023	20/06/2022	28/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	15/06/2026	10/07/2026	French	PDF
Abridged model	31/12/2024	16/06/2025	14/07/2025	French	PDF
Micro model	31/12/2023	17/06/2024	05/07/2024	French	PDF
Micro model	31/12/2022	19/06/2023	30/10/2023	French	PDF
Micro model	31/12/2021	20/06/2022	28/08/2022	French	PDF
Micro model	31/12/2020	28/06/2021	30/08/2021	French	PDF
Micro model	31/12/2019	07/09/2020	02/11/2020	French	PDF
Micro model	31/12/2018	17/06/2019	23/08/2019	French	PDF
Micro model	31/12/2017	25/06/2018	29/08/2018	French	PDF
Micro model	31/12/2016	26/06/2017	31/08/2017	French	PDF
Abridged model	31/12/2015	27/06/2016	29/08/2016	French	PDF
Abridged model	31/12/2014	29/06/2015	27/08/2015	French	PDF
Abridged model	31/12/2013	30/06/2014	27/08/2014	French	PDF
Abridged model	31/12/2012	19/08/2013	29/08/2013	French	PDF
Abridged model	31/12/2011	29/09/2012	29/09/2012	French	PDF
Abridged model	31/12/2010	20/06/2011	29/08/2011	French	PDF
Abridged model	31/12/2009	21/06/2010	30/08/2010	French	PDF
Abridged model	31/12/2008	22/06/2009	27/08/2009	French	PDF
Abridged model	31/12/2007	23/06/2008	28/08/2008	French	PDF
Abridged model	31/12/2006	17/08/2007	24/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 8 ended

Active mandates

Milla DE RAIKEM

Director · since 19 juin 2023 · until 17 avril 2029

Active

Simon DE RAIKEM

Director · since 19 juin 2023 · until 17 avril 2029

Active

Yves DE RAIKEM

Managing director · since 19 juin 2023 · until 17 avril 2029

Active

Ended mandates

Philippe DE RAIKEM

Managing director · since 26 juin 2017 · until 17 avril 2023

Ended

Philippe DE RAIKEM

Managing director · since 26 juin 2017 · until 19 juin 2023

Ended

Yves DE RAIKEM

Managing director · since 26 juin 2017 · until 17 avril 2023

Ended

Philippe DE RAIKEM

Managing director · since 20 juin 2011 · until 17 avril 2017

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates28/12/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - OBJET - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
PDF
Mandates24/11/2017
DEMISSIONS, NOMINATIONS
PDF
Mandates11/04/2012
DEMISSIONS, NOMINATIONS
PDF
Restructuring01/08/2008
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring05/06/2008
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates30/11/2005
DEMISSIONS, NOMINATIONS
PDF
Mandates01/07/2004
DEMISSIONS, NOMINATIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025-45,8 k €↓
2024
Annual accounts 2024-24,4 k €↓
2023
Annual accounts 2023350,3 k €↑
2022
Annual accounts 2022182,1 k €↑
2021
Annual accounts 202154,6 k €↑
2020
Annual accounts 2020-20,1 k €↓
2019
Annual accounts 201911,4 k €↓
2018
Annual accounts 201811,9 k €↑
2017
Annual accounts 20172,4 k €↓
2016
Annual accounts 201620,4 k €↑
2015
Annual accounts 2015-392,9 €↓
2014
Annual accounts 201419,2 k €↓
2013
Annual accounts 201324,1 k €↓
2012
Annual accounts 2012104,4 k €↑
2011
Annual accounts 2011-35,2 k €↓
2010
Annual accounts 2010-4,8 k €↓
2009
Annual accounts 200918,2 k €↑
2008
Annual accounts 20083,4 k €↓
2007
Annual accounts 2007296,7 k €↓
2006
Annual accounts 2006387,5 k €
04/10/1973
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

TRANS - FORM

Overview

What does TRANS - FORM do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline