ACTIVE

TCSG

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Financial year 2025 · closed on 31/12/2025

Net result

-8,4 k €

+40.3% YoY

Gross margin

76,7 k €

+12.5% YoY

Equity

129,2 k €

-6.1% YoY

What does TCSG do?

TCSG is a Private limited company incorporated in 2000. Its main activity is: Other specialised construction activities n.e.c.. Its registered office is in Charleroi.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0472.766.419

Incorporation

15/09/2000

Legal form

Private limited company

Registered office

Chaussée de Nivelles 227
6041 Charleroi · WallonieSee on map

Contributed capital

20 451,21 €

Latest accounts

31/12/2025

Activities (NACE)

43990Other specialised construction activities n.e.c.· main 43995Other specialised construction activities n.e.c.68321Management of real estate on a fee or contract basis 68321Management of real estate on a fee or contract basis 43120Site preparation 43120Site preparation+2

Joint committees (1)

Signals

Solid equityGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	76,7 k €	+12.5%	68,2 k €	-53.3%	146,2 k €	+117%	67,4 k €	-8.3%	73,5 k €	+27.1%	57,8 k €	-34.3%	88 k €	+26.8%	69,4 k €	+6.8%	64,9 k €	+22.8%	52,9 k €	-30.6%	76,2 k €	+123%	34,2 k €	+188%	-38,9 k €	-142%	92 k €	-27.2%	126,4 k €	+72.8%	73,1 k €	+42.6%	51,3 k €	-26.1%	69,5 k €	+59.9%	43,4 k €	+92.8%	22,5 k €
EBITDA	13,3 k €	+933%	-1,6 k €	-103%	56 k €	+337%	12,8 k €	-78.2%	58,8 k €	+91.5%	30,7 k €	+1.6%	30,2 k €	+33.3%	22,6 k €	+56.5%	14,5 k €	+292%	3,7 k €	-89.5%	35,1 k €	+13.2%	31 k €	+156%	-55,2 k €	-780%	8,1 k €	+23.9%	6,6 k €	-29.0%	9,2 k €	-55.7%	20,9 k €	+28.3%	16,3 k €	-59.3%	39,9 k €	+82.7%	21,8 k €
Operating result	-5,6 k €	+60.8%	-14,3 k €	-148%	29,9 k €	+5023%	583,6 €	-98.4%	37,4 k €	+197%	12,6 k €	-7.2%	13,6 k €	-18.2%	16,6 k €	+98.2%	8,4 k €	+176%	3 k €	-91.0%	33,8 k €	+14.7%	29,4 k €	+152%	-56,8 k €	-973%	6,5 k €	+32.7%	4,9 k €	+1123%	-479,2 €	-104%	11,7 k €	+89.8%	6,2 k €	-79.4%	29,9 k €	+139%	12,5 k €
Net result	-8,4 k €	+40.3%	-14 k €	-170%	20,1 k €	+995%	-2,3 k €	-108%	27,3 k €	+111%	12,9 k €	+50.8%	8,6 k €	-15.2%	10,1 k €	+101%	5 k €	+65.0%	3,1 k €	-90.4%	31,8 k €	+7.4%	29,6 k €	+148%	-61,5 k €	-8052%	773 €	+168%	-1,1 k €	-25.8%	-907,5 €	-121%	4,4 k €	+61.1%	2,7 k €	-84.1%	17,2 k €	+116%	8 k €
Balance sheet
Equity	129,2 k €	-6.1%	137,5 k €	-9.3%	151,6 k €	+15.3%	131,4 k €	-1.7%	133,7 k €	+25.6%	106,4 k €	+13.8%	93,5 k €	+10.1%	84,9 k €	+13.5%	74,8 k €	+7.2%	69,8 k €	+4.6%	66,8 k €	+91.0%	34,9 k €	+556%	5,3 k €	-92.0%	66,8 k €	+1.2%	66 k €	-1.7%	67,2 k €	-1.3%	68,1 k €	+6.9%	63,7 k €	+4.5%	60,9 k €	+42.4%	42,8 k €
Total assets	318,9 k €	-44.5%	574,6 k €	+34.1%	428,6 k €	-11.3%	483,2 k €	-13.0%	555,3 k €	+24.2%	447,1 k €	+46.2%	305,9 k €	-13.1%	351,9 k €	+66.6%	211,3 k €	+12.3%	188 k €	-32.8%	279,8 k €	-31.5%	408,2 k €	+120%	185,3 k €	-21.7%	236,5 k €	+33.9%	176,6 k €	-20.6%	222,5 k €	+5.0%	211,9 k €	+14.1%	185,7 k €	-7.6%	200,9 k €	+33.3%	150,7 k €
Cash	637,1 €	-99.4%	102,3 k €	+1146%	8,2 k €	+332%	1,9 k €	-98.0%	94,1 k €	+970%	8,8 k €	-9.4%	9,7 k €	-82.3%	54,9 k €	+182%	19,5 k €	+21.4%	16 k €	+172%	5,9 k €	-54.0%	12,8 k €	+1221%	971,4 €	-65.3%	2,8 k €	-52.9%	5,9 k €	+0.5%	5,9 k €	-2.3%	6,1 k €	+1091%	508,2 €	-83.9%	3,2 k €	-17.1%	3,8 k €
Debts	189,7 k €	-56.6%	437 k €	+57.7%	277 k €	-21.2%	351,7 k €	-16.6%	421,6 k €	+23.8%	340,7 k €	+60.4%	212,4 k €	-20.5%	266,9 k €	+95.7%	136,4 k €	+15.4%	118,2 k €	-41.2%	201 k €	-46.1%	373,2 k €	+107%	179,9 k €	+6.1%	169,7 k €	+53.4%	110,6 k €	-28.8%	155,3 k €	+8.0%	143,9 k €	+17.9%	122 k €	-12.8%	140 k €	+29.7%	107,9 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		1,0 ETP		–		1,0 ETP	-54.5%	2,2 ETP	-46.3%	4,1 ETP	+36.7%	3,0 ETP	+200%	1,0 ETP	+100%	0,5 ETP		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 9 ended

Active mandates

ALEXANDRE GUYAUX

Director

Active

Ended mandates

ALEXANDRE GUYAUX

Director · since 24 janvier 2023

Ended

ALEXANDRE GUYAUX

Manager · since 24 janvier 2023

Ended

ALEXANDRE GUYAUX

Manager · since 30 septembre 2010

Ended

Alexandre GUYAUX

Manager · since 26 septembre 2002

Ended

At this address

Other companies at this address

Company	CBE no.
HB AEROTECH● Active	1041.220.071

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro 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	31/08/2026	27/08/2025	27/09/2024	28/09/2023	07/10/2022	30/09/2021
General meeting	26/06/2026	27/06/2025	28/06/2024	30/06/2023	24/06/2022	25/06/2021
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

21 filings with the NBB

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

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 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 · 1 active · 9 ended

Active mandates

ALEXANDRE GUYAUX

Director

Active

Ended mandates

ALEXANDRE GUYAUX

Director · since 24 janvier 2023

Ended

ALEXANDRE GUYAUX

Manager · since 24 janvier 2023

Ended

ALEXANDRE GUYAUX

Manager · since 30 septembre 2010

Ended

Alexandre GUYAUX

Manager · since 26 septembre 2002

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates08/02/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - OBJET - DEMISSIONS, NOMINATIONS
PDF
Mandates31/05/2011
DEMISSIONS, NOMINATIONS
PDF
Other03/09/2007
OBJET
PDF
Registered office09/06/2004
SIEGE SOCIAL
PDF
Mandates24/03/2004
DEMISSIONS, NOMINATIONS - SIEGE SOCIAL
PDF
Registered office02/04/2003
SIEGE SOCIAL
PDF
Mandates04/12/2002
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 2025-8,4 k €↑
2024
Annual accounts 2024-14 k €↓
2023
Annual accounts 202320,1 k €↑
2022
Annual accounts 2022-2,3 k €↓
2021
Annual accounts 202127,3 k €↑
2020
Annual accounts 202012,9 k €↑
2019
Annual accounts 20198,6 k €↓
2018
Annual accounts 201810,1 k €↑
2017
Annual accounts 20175 k €↑
2016
Annual accounts 20163,1 k €↓
2015
Annual accounts 201531,8 k €↑
2014
Annual accounts 201429,6 k €↑
2013
Annual accounts 2013-61,5 k €↓
2012
Annual accounts 2012773 €↑
2011
Annual accounts 2011-1,1 k €↓
2010
Annual accounts 2010-907,5 €↓
2009
Annual accounts 20094,4 k €↑
2008
Annual accounts 20082,7 k €↓
2007
Annual accounts 200717,2 k €↑
2006
Annual accounts 20068 k €
15/09/2000
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

TCSG

Overview

What does TCSG 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