ACTIVE

TECHNICAL SERVICES GROUP BELGIUM

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Financial year 2025 · closed on 30/04/2025

Net result

8,2 M €

+20.1% YoY

Revenue

63,8 M €

+1.2% YoY

Equity

10,8 M €

+42.5% YoY

Workforce

178,3 ETP

+1.6% YoY

What does TECHNICAL SERVICES GROUP BELGIUM do?

TECHNICAL SERVICES GROUP BELGIUM is a Public limited company incorporated in 2015. Its main activity is: Installation of industrial machinery and equipment. Its registered office is in Turnhout. It employs on average 178,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0642.808.013

Incorporation

10/11/2015

Legal form

Public limited company

Registered office

Treskesdijk 7
2300 Turnhout · FlandreSee on map

Contributed capital

1 861 500,00 €

Latest accounts

30/04/2025

Average workforce

178,3 ETP

Activities (NACE)

33200Installation of industrial machinery and equipment· main 33200Installation of industrial machinery and equipment

Joint committees (2)

14901
200

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 9 financial years

	2025		2024		2023		2021		2020		2019		2018		2017		2016
Income statement
Revenue	63,8 M €	+1.2%	63 M €	+10.4%	57,1 M €	+18.4%	48,2 M €	-9.3%	53,2 M €	+16.2%	45,7 M €	+35.9%	33,7 M €	+5.2%	32 M €	+217%	10,1 M €
EBITDA	11 M €	+12.1%	9,8 M €	+40.1%	7 M €	-22.3%	9 M €	-10.5%	10,1 M €	+208%	3,3 M €	+469%	574,2 k €	+3.8%	553,3 k €	+2898%	18,5 k €
Operating result	11,1 M €	+18.5%	9,4 M €	+38.3%	6,8 M €	-13.0%	7,8 M €	-11.8%	8,8 M €	+253%	2,5 M €	+844%	264,3 k €	-36.1%	413,7 k €	+756%	-63 k €
Net result	8,2 M €	+20.1%	6,8 M €	+76.4%	3,9 M €	-31.3%	5,6 M €	-6.0%	6 M €	+286%	1,6 M €	+732%	186,6 k €	+153%	73,7 k €	-90.2%	750,8 k €
Balance sheet
Equity	10,8 M €	+42.5%	7,6 M €	+67.2%	4,5 M €	-55.9%	10,2 M €	+122%	4,6 M €	+27.8%	3,6 M €	-60.3%	9,1 M €	+2.1%	8,9 M €	+390%	1,8 M €
Total assets	47,6 M €	+4.8%	45,4 M €	+25.0%	36,3 M €	-19.9%	45,3 M €	+10.4%	41,1 M €	+20.3%	34,1 M €	+2.8%	33,2 M €	+16.9%	28,4 M €	-0.1%	28,4 M €
Cash	15,2 M €	-18.6%	18,6 M €	+91.6%	9,7 M €	-43.6%	17,3 M €	-13.8%	20 M €	+85.9%	10,8 M €	-26.6%	14,7 M €	-18.7%	18 M €	-12.5%	20,6 M €
Debts	36,2 M €	-2.1%	37 M €	+24.1%	29,8 M €	-3.1%	30,8 M €	+5.1%	29,3 M €	+25.5%	23,3 M €	+29.9%	18 M €	+19.3%	15,1 M €	-39.9%	25 M €
Other
Workforce	178,3 ETP	+1.6%	175,5 ETP	-1.3%	177,9 ETP	+5.0%	169,5 ETP	+15.2%	147,1 ETP	+11.6%	131,8 ETP	+11.2%	118,5 ETP	+7.2%	110,5 ETP	-3.0%	113,9 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/04/2025 · 3 active · 4 ended

Active mandates

Bart Wouters

Director · since 01 juillet 2024

Active

Mario Boere

Director · since 25 octobre 2021 · until 25 octobre 2027

Active

Jean-Marc Bianchi

Director · since 15 octobre 2020 · until 26 octobre 2026

Active

Ended mandates

TSG Management

Director · since 01 janvier 2016 · until 01 novembre 2022

Represented by Baudoin Du Fayet De la Tour

Ended

Baudoin Du Fayet De la Tour

Director · since 10 novembre 2015 · until 25 octobre 2021

Ended

Baudoin Du Fayet De La Tour

Director · since 10 novembre 2015 · until 01 novembre 2016

Ended

Mario Boere

Director · since 10 novembre 2015 · until 25 octobre 2021

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/05/2024	01/05/2023	01/05/2022	01/05/2021	01/05/2020	01/05/2019
Closing of the financial year	30/04/2025	30/04/2024	30/04/2023	30/04/2022	30/04/2021	30/04/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	27/11/2025	10/12/2024	18/12/2023	24/01/2023	21/12/2021	16/12/2020
General meeting	25/11/2025	22/11/2024	30/11/2023	04/11/2022	25/10/2021	25/09/2020
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

10 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	30/04/2025	25/11/2025	27/11/2025	Dutch	PDF
Full model	30/04/2024	22/11/2024	10/12/2024	Dutch	PDF
Full model	30/04/2023	30/11/2023	18/12/2023	Dutch	PDF
Full model	30/04/2022	04/11/2022	24/01/2023	Dutch	PDF
Full model	30/04/2021	25/10/2021	21/12/2021	Dutch	PDF
Full model	30/04/2020	25/09/2020	16/12/2020	Dutch	PDF
Full model	30/04/2019	28/10/2019	18/12/2019	Dutch	PDF
Full model	30/04/2018	29/10/2018	28/11/2018	Dutch	PDF
Full model	30/04/2017	30/10/2017	28/11/2017	Dutch	PDF
Full model	30/04/2016	24/11/2016	01/12/2016	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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 30/04/2025 · 3 active · 4 ended

Active mandates

Bart Wouters

Director · since 01 juillet 2024

Active

Mario Boere

Director · since 25 octobre 2021 · until 25 octobre 2027

Active

Jean-Marc Bianchi

Director · since 15 octobre 2020 · until 26 octobre 2026

Active

Ended mandates

TSG Management

Director · since 01 janvier 2016 · until 01 novembre 2022

Represented by Baudoin Du Fayet De la Tour

Ended

Baudoin Du Fayet De la Tour

Director · since 10 novembre 2015 · until 25 octobre 2021

Ended

Baudoin Du Fayet De La Tour

Director · since 10 novembre 2015 · until 01 novembre 2016

Ended

Mario Boere

Director · since 10 novembre 2015 · until 25 octobre 2021

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates26/08/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/09/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/09/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/03/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/11/2020
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares14/02/2019
KAPITAAL - AANDELEN
PDF
Mandates05/02/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/10/2018
ONTSLAGEN - BENOEMINGEN
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 20258,2 M €↑
2024
Annual accounts 20246,8 M €↑
2023
Annual accounts 20233,9 M €↓
2021
Annual accounts 20215,6 M €↓
2020
Annual accounts 20206 M €↑
2019
Annual accounts 20191,6 M €↑
2018
Annual accounts 2018186,6 k €↑
2017
Annual accounts 201773,7 k €↓
2016
Annual accounts 2016750,8 k €
10/11/2015
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

TECHNICAL SERVICES GROUP BELGIUM

Overview

What does TECHNICAL SERVICES GROUP BELGIUM do?

Trend over 9 financial years

Indicative valuation

Board of directors

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