ACTIVE

TSB

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Financial year 2025 · closed on 31/12/2025

Net result

-32,8 k €

+97.3% YoY

Gross margin

-26,3 k €

+97.8% YoY

Equity

3,5 M €

-0.9% YoY

What does TSB do?

TSB is a Private limited company incorporated in 1974. Its main activity is: Retail sale in non-specialised stores with food, beverages or tobacco predominating. Its registered office is in Pelt.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0414.687.767

Incorporation

21/12/1974

Legal form

Private limited company

Registered office

Tielenstraat 33
3900 Pelt · FlandreSee on map

Contributed capital

466 593,12 €

Latest accounts

31/12/2025

Activities (NACE)

47110Retail sale in non-specialised stores with food, beverages or tobacco predominating· main 47113Retail sale in non-specialised stores with food, beverages or tobacco predominating 52113Warehousing and storage

Joint committees (3)

Signals

Solid equityLow riskGood liquidity

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 22 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2010		2009		2008		2007		2006		2005		2004		2003
Income statement
Gross margin	-26,3 k €	+97.8%	-1,2 M €	-215%	1 M €	-71.7%	3,7 M €	+423%	702,6 k €	+2.8%	683,2 k €	+38.6%	493 k €	-11.6%	557,5 k €	-0.7%	561,2 k €	+22.7%	457,3 k €	-14.2%	533,2 k €	+9.1%	488,8 k €	-26.2%	662,6 k €	-48.1%	1,3 M €	+86.9%	682,9 k €	+16.5%	586,3 k €	-12.0%	666,4 k €	+8.4%	614,5 k €	+19.3%	515 k €	-6.5%	551,1 k €	-6.9%	592 k €	+23.6%	478,9 k €
EBITDA	-27,4 k €	+97.7%	-1,2 M €	-216%	1 M €	-58.9%	2,5 M €	+711%	311,8 k €	+13.7%	274,3 k €	+264%	75,4 k €	-43.6%	133,7 k €	+13.5%	117,8 k €	+109%	56,3 k €	-33.4%	84,5 k €	-15.3%	99,8 k €	-41.2%	169,7 k €	-60.0%	424,7 k €	+55.0%	273,9 k €	+35.0%	203 k €	-23.9%	266,7 k €	+19.6%	223 k €	+52.4%	146,4 k €	-16.6%	175,4 k €	-18.2%	214,4 k €	+121%	97,1 k €
Operating result	-27,4 k €	+97.7%	-1,2 M €	-216%	1 M €	-58.9%	2,5 M €	+812%	277 k €	+16.3%	238,2 k €	+485%	40,7 k €	-58.2%	97,4 k €	+35.6%	71,9 k €	+1021%	6,4 k €	-55.3%	14,3 k €	-52.8%	30,4 k €	-67.6%	93,9 k €	-68.1%	294,7 k €	+75.2%	168,2 k €	+127%	74,2 k €	-23.1%	96,5 k €	-1.6%	98 k €	+59.1%	61,6 k €	-32.2%	90,9 k €	-22.1%	116,6 k €	+547%	18 k €
Net result	-32,8 k €	+97.3%	-1,2 M €	-265%	731,3 k €	-61.1%	1,9 M €	+742%	223,6 k €	+55.8%	143,5 k €	+348%	32 k €	-56.4%	73,4 k €	+6.4%	69 k €	+149%	27,7 k €	-30.3%	39,8 k €	-8.2%	43,3 k €	-40.7%	73,1 k €	-62.9%	197 k €	+33.1%	148 k €	+65.0%	89,7 k €	+190%	-99,5 k €	-244%	69,3 k €	+35.2%	51,2 k €	-22.9%	66,5 k €	-22.4%	85,7 k €	+1872%	4,3 k €
Balance sheet
Equity	3,5 M €	-0.9%	3,6 M €	-25.4%	4,8 M €	+18.2%	4 M €	+87.7%	2,1 M €	+11.6%	1,9 M €	+6.6%	1,8 M €	+1.8%	1,8 M €	+4.3%	1,7 M €	+4.2%	1,6 M €	+1.7%	1,6 M €	+2.5%	1,6 M €	+2.9%	1,5 M €	+5.1%	1,4 M €	+15.8%	1,2 M €	+13.5%	1,1 M €	+8.9%	1 M €	-9.0%	1,1 M €	+6.7%	1 M €	+5.2%	989,2 k €	+4.3%	948,7 k €	+6.8%	887,9 k €
Total assets	4,2 M €	-16.3%	5 M €	-24.1%	6,6 M €	-32.0%	9,7 M €	+222%	3 M €	+26.4%	2,4 M €	+4.8%	2,3 M €	+1.0%	2,3 M €	+4.8%	2,2 M €	+5.0%	2,1 M €	+1.1%	2 M €	-2.4%	2,1 M €	-4.7%	2,2 M €	+3.7%	2,1 M €	+20.5%	1,8 M €	+16.0%	1,5 M €	-1.6%	1,5 M €	-11.0%	1,7 M €	+8.8%	1,6 M €	+1.9%	1,6 M €	+0.2%	1,6 M €	-2.3%	1,6 M €
Cash	793,8 €	-39.7%	1,3 k €	-83.8%	8,1 k €	+81.1%	4,5 k €	-98.0%	229,6 k €	-68.3%	724,1 k €	+38.8%	521,7 k €	+14.1%	457,2 k €	+57.0%	291,2 k €	+11.1%	262 k €	+5.6%	248,2 k €	-16.7%	297,9 k €	+126%	131,8 k €	-85.3%	895,8 k €	+59.9%	560,1 k €	+44.8%	386,9 k €	-26.4%	525,5 k €	+58.8%	330,9 k €	+51.2%	218,9 k €	+54.9%	141,3 k €	-36.1%	221,3 k €	+32.4%	167,1 k €
Debts	691,9 k €	-53.2%	1,5 M €	-20.9%	1,9 M €	-67.3%	5,7 M €	+551%	878,6 k €	+105%	428,7 k €	-2.0%	437,7 k €	+1.3%	432,3 k €	+7.2%	403,2 k €	+0.7%	400,4 k €	+0.8%	397,1 k €	-18.4%	486,9 k €	-14.9%	571,9 k €	-7.7%	619,7 k €	+28.9%	480,9 k €	+24.1%	387,5 k €	-22.6%	500,5 k €	-17.8%	608,9 k €	+13.0%	538,7 k €	-3.8%	559,8 k €	-6.1%	596,1 k €	-13.8%	691,7 k €
Other
Workforce	–		0,0 ETP		0,0 ETP	-100%	9,0 ETP	-16.7%	10,8 ETP	-9.2%	11,9 ETP	-7.8%	12,9 ETP	+11.2%	11,6 ETP	+5.5%	11,0 ETP	-9.1%	12,1 ETP	-6.2%	12,9 ETP	+1.6%	12,7 ETP	-16.4%	15,2 ETP	+15.2%	13,2 ETP	+0.8%	13,1 ETP	-3.7%	13,6 ETP	-4.2%	14,2 ETP	-1.4%	14,4 ETP	+2.1%	14,1 ETP	+9.3%	12,9 ETP	-4.4%	13,5 ETP	-13.5%	15,6 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 8 ended

Active mandates

TS 33

Director · since 19 novembre 2024 · 0568.894.211

Represented by Bart CRESENS

Active

Mieke De Keyzer

Director · since 28 février 2022

Active

Ended mandates

Bart Cresens

Director · since 28 février 2022 · until 19 novembre 2024

Ended

Bart Cresens

Director · since 28 février 2022

Ended

ARBOR

Director · since 01 mai 2020 · 0598.806.437

Represented by Christophe De Laet

Ended

ARBOR

Director · 0598.806.437

Represented by Christophe De Laet

Ended

At this address

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G.I.V.O.● Active	0445.952.154
Hallo 33● Active	0767.537.343
Hallo Dessel● Active	0781.481.092
Hallo Kontich● Active	1040.206.719
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PROUDMOORE● Active	1003.767.975
QCII● Active	0453.607.137
Retail Properties● Active	0769.408.453
RUMCO● Active	0453.259.521
SUBLIMMO● Active	0452.195.093
TS 33● Active	0568.894.211
TS33 Btw-eenheid● Active	0802.401.024
TSN● Active	1002.449.270
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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/09/2021	01/09/2020	01/09/2019
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/08/2021	31/08/2020
Length of the financial year	12 months	12 months	12 months	16 months	12 months	12 months
Filing date	13/07/2026	31/07/2025	07/10/2024	14/04/2023	28/02/2022	19/03/2021
General meeting	30/06/2026	30/06/2025	22/04/2024	16/03/2023	25/02/2022	22/02/2021
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

26 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	30/06/2026	13/07/2026	Dutch	PDF
Abridged model	31/12/2024	30/06/2025	31/07/2025	Dutch	PDF
Abridged modelCorrection	31/12/2023	22/04/2024	07/10/2024	Dutch	PDF
Abridged model	31/12/2023	22/04/2024	21/05/2024	Dutch	PDF
Abridged model	31/12/2022	16/03/2023	14/04/2023	Dutch	PDF
Abridged model	31/08/2021	25/02/2022	28/02/2022	Dutch	PDF
Abridged model	31/08/2020	22/02/2021	19/03/2021	Dutch	PDF
Abridged model	31/08/2019	24/02/2020	31/03/2020	Dutch	PDF
Abridged model	31/08/2018	25/02/2019	02/04/2019	Dutch	PDF
Abridged model	31/08/2017	26/02/2018	30/03/2018	Dutch	PDF
Abridged model	31/08/2016	27/02/2017	06/04/2017	Dutch	PDF
Abridged model	31/08/2015	22/02/2016	29/02/2016	Dutch	PDF
Abridged model	31/08/2014	23/02/2015	24/02/2015	Dutch	PDF
Abridged model	31/08/2013	24/02/2014	31/03/2014	Dutch	PDF
Abridged model	31/08/2012	25/02/2013	26/04/2013	Dutch	PDF
Abridged model	30/09/2010	14/12/2010	31/03/2011	Dutch	PDF
Abridged model	30/09/2009	08/12/2009	04/05/2010	Dutch	PDF
Abridged modelCorrection	30/09/2008	09/12/2008	19/05/2009	Dutch	PDF
Abridged model	30/09/2008	09/12/2008	16/03/2009	Dutch	PDF
Abridged modelCorrection	30/09/2007	11/12/2007	19/05/2009	Dutch	PDF
Abridged model	30/09/2007	11/12/2007	27/03/2008	Dutch	PDF
Abridged modelCorrection	30/09/2006	12/12/2006	19/05/2009	Dutch	PDF
Abridged model	30/09/2006	12/12/2006	13/02/2007	Dutch	PDF
Abridged modelCorrection	30/09/2005	13/12/2005	19/05/2009	Dutch	PDF

View all 26 filings

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 M€

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 · 2 active · 8 ended

Active mandates

TS 33

Director · since 19 novembre 2024 · 0568.894.211

Represented by Bart CRESENS

Active

Mieke De Keyzer

Director · since 28 février 2022

Active

Ended mandates

Bart Cresens

Director · since 28 février 2022 · until 19 novembre 2024

Ended

Bart Cresens

Director · since 28 février 2022

Ended

ARBOR

Director · since 01 mai 2020 · 0598.806.437

Represented by Christophe De Laet

Ended

ARBOR

Director · 0598.806.437

Represented by Christophe De Laet

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates12/02/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other16/09/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - BENAMING - ALGEMENE VERGADERING - BOEKJAAR
PDF
Mandates17/03/2022
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/01/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/05/2015
ONTSLAGEN - BENOEMINGEN
PDF
Registered office27/12/2012
MAATSCHAPPELIJKE ZETEL
PDF
Other27/10/2011
BOEKJAAR - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates04/11/2003
ONTSLAGEN - BENOEMINGEN - KAPITAAL - AANDELEN - ALGEMENE VERGADERING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
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 2025-32,8 k €↑
2024
Annual accounts 2024-1,2 M €↓
2023
Annual accounts 2023731,3 k €↓
2023
Name changeTSB
2022
Annual accounts 20221,9 M €↑
2022
Name changeTSB (Superpost)
2021
Annual accounts 2021223,6 k €↑
2020
Annual accounts 2020143,5 k €↑
2019
Annual accounts 201932 k €↓
2018
Annual accounts 201873,4 k €↑
2017
Annual accounts 201769 k €↑
2016
Annual accounts 201627,7 k €↓
2015
Annual accounts 201539,8 k €↓
2014
Annual accounts 201443,3 k €↓
2013
Annual accounts 201373,1 k €↓
2012
Annual accounts 2012197 k €↑
2010
Annual accounts 2010148 k €↑
2009
Annual accounts 200989,7 k €↑
2008
Annual accounts 2008-99,5 k €↓
2007
Annual accounts 200769,3 k €↑
2006
Annual accounts 200651,2 k €↓
2005
Annual accounts 200566,5 k €↓
2004
Annual accounts 200485,7 k €↑
2003
Annual accounts 20034,3 k €
21/12/1974
IncorporationPrivate 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

TSB

Overview

What does TSB do?

Trend over 22 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