ACTIVE

TST BELGIUM

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Financial year 2025 · Closed on 31/12/2025

Net result1,7 M €-6,8 %over 1 year
Gross margin3,3 M €+0,4 %over 1 year
Equity1,6 M €-1,1 %over 1 year
Workforce9,2 ETP+3,4 %over 1 year

Identity

Source · BCE/KBO

TST BELGIUM is a Public limited company incorporated in 2002. Its main activity is: Support activities for transportation. Its registered office is in Antwerpen. It employs on average 9,2 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0478.238.110
Incorporation
30/08/2002
Legal form
Public limited company
Registered office
Limastraat 3 box 5
2000 Antwerpen · FlandreSee on map
Contributed capital
61 500,00 €
Latest accounts
31/12/2025
Average workforce
9,2 ETP
Joint committees (5)
  • 100
  • 140
  • 14003
  • 226
  • 2260
Signals
ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 20 filings

Trend over 20 financial years

20252024202320222021
Income statement
Gross margin3,3 M €3,3 M €3,4 M €2,7 M €2,3 M €
EBITDA2,4 M €2,5 M €2,6 M €2 M €1,5 M €
Operating result2,3 M €2,4 M €2,5 M €1,9 M €1,4 M €
Net result1,7 M €1,8 M €1,9 M €1,4 M €1,1 M €
Balance sheet
Equity1,6 M €1,6 M €1,5 M €1,5 M €1,5 M €
Total assets6,9 M €5,4 M €5,5 M €4,3 M €4,2 M €
Cash953 k €556,6 k €1,1 M €898,3 k €288 k €
Debts5,3 M €3,8 M €3,9 M €2,8 M €2,7 M €
Other
Workforce9,2 ETP8,9 ETP11,3 ETP11,6 ETP10,5 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 26 ended

Active mandates

CHAINED

Managing director · since 09 octobre 2025 · until 20 mai 2031 · 0717.858.693

Represented by Vanarwegen Lisa

Active
Antonius Johannes Cornelis de Boer

Director · since 01 août 2025 · until 20 mai 2031

Active

Ended mandates

CHAINED

Director · since 31 mars 2021 · until 31 mars 2027 · 0717.858.693

Represented by Lisa Vanarwegen

Ended
CHAINED

Director · since 31 mars 2021 · until 18 mai 2027 · 0717.858.693

Represented by Vanarwegen LISA

Ended
Stormbel Holding BV

Director · since 31 mars 2021 · until 31 mars 2027

Represented by Gerrit Matroos

Ended
Stormbel Holding BV

Director · since 31 mars 2021 · until 18 mai 2027

Represented by Matroos GERRIT

Ended

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Full financial information

Source · NBB
202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date08/07/202618/07/202526/08/202408/06/202322/06/202214/07/2021
General meeting09/06/202610/06/202530/06/202416/05/202317/05/202208/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings
ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202509/06/202608/07/2026DutchPDF
Abridged model31/12/202410/06/202518/07/2025DutchPDF
Abridged model31/12/202330/06/202426/08/2024DutchPDF
Abridged model31/12/202216/05/202308/06/2023DutchPDF
Abridged model31/12/202117/05/202222/06/2022DutchPDF
Abridged model31/12/202008/06/202114/07/2021DutchPDF
Abridged model31/12/201913/07/202028/07/2020DutchPDF
Abridged model31/12/201821/05/201913/06/2019DutchPDF
Abridged model31/12/201715/05/201812/06/2018DutchPDF
Full model31/12/201616/05/201702/06/2017DutchPDF
Full model31/12/201517/05/201623/05/2016DutchPDF
Full model31/12/201419/05/201521/05/2015DutchPDF
Full model31/12/201320/05/201417/06/2014DutchPDF
Full model31/12/201221/05/201327/06/2013DutchPDF
Full model31/12/201115/05/201212/06/2012DutchPDF
Full model31/12/201017/05/201130/05/2011DutchPDF
Full model31/12/200918/05/201015/06/2010DutchPDF
Full model31/12/200819/05/200918/06/2009DutchPDF
Full model31/12/200720/05/200830/08/2008DutchPDF
Abridged model31/12/200618/06/200731/08/2007DutchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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.

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 26 ended

Active mandates

CHAINED

Managing director · since 09 octobre 2025 · until 20 mai 2031 · 0717.858.693

Represented by Vanarwegen Lisa

Active
Antonius Johannes Cornelis de Boer

Director · since 01 août 2025 · until 20 mai 2031

Active

Ended mandates

CHAINED

Director · since 31 mars 2021 · until 31 mars 2027 · 0717.858.693

Represented by Lisa Vanarwegen

Ended
CHAINED

Director · since 31 mars 2021 · until 18 mai 2027 · 0717.858.693

Represented by Vanarwegen LISA

Ended
Stormbel Holding BV

Director · since 31 mars 2021 · until 31 mars 2027

Represented by Gerrit Matroos

Ended
Stormbel Holding BV

Director · since 31 mars 2021 · until 18 mai 2027

Represented by Matroos GERRIT

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates13/11/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office20/05/2025
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates13/03/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other04/05/2021
    WIJZIGING RECHTSVORM - BENAMING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Mandates19/01/2021
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates14/09/2020
    ONTSLAGEN - BENOEMINGEN - WIJZIGING RECHTSVORM
    PDF
  • Other28/06/2018
    BENAMING
    PDF
  • Mandates03/08/2017
    ONTSLAGEN - BENOEMINGEN
    PDF

Similar companies

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

See the Business plan

Timeline

  1. 2025
    Annual accounts 20251,7 M €↓
  2. 2024
    Annual accounts 20241,8 M €↓
  3. 2023
    Annual accounts 20231,9 M €↑
  4. 2022
    Annual accounts 20221,4 M €↑
  5. 2021
    Annual accounts 20211,1 M €↑
  6. 2020
    Annual accounts 2020723,3 k €↑
  7. 2020
    Name changeTST Belgium
  8. 2019
    Annual accounts 2019633 k €↓
  9. 2018
    Annual accounts 2018818,5 k €↓
  10. 2018
    Name changeTMA Logistics
  11. 2017
    Annual accounts 20171,1 M €↑
  12. 2016
    Annual accounts 2016984,8 k €↓
  13. 2015
    Annual accounts 20151,3 M €↑
  14. 2014
    Annual accounts 20141,2 M €↓
  15. 2013
    Annual accounts 20131,6 M €↓
  16. 2012
    Annual accounts 20122,1 M €↑
  17. 2011
    Annual accounts 20111,5 M €↑
  18. 2010
    Annual accounts 20101,1 M €↑
  19. 2009
    Annual accounts 2009394,2 k €↓
  20. 2008
    Annual accounts 20081,5 M €↑
  21. 2007
    Annual accounts 20071,1 M €↑
  22. 2006
    Annual accounts 2006630,8 k €
  23. 2006
    Name changeTHOR SHIPPING & TRANSPORT
  24. 30/08/2002
    IncorporationPublic limited company