GOETHALS TIMO
ActiveThe computed 12-month bankruptcy probability of GOETHALS TIMO is 2.1% (moderate). The 2024 annual accounts show equity of €1.11M and a net result of €446k. Equity is growing by ~55.8% per year across the filed fiscal years. Its solvency ranks better than 85% of 7446 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
83
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability100=
Solvency100▲+14
Growth78▲+26
Track record94
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €90k at 30 days acceptable
Liquidity ample (current ratio 4.26 against 2.61 in 2023; short-term debt: 20.3% and cash: 50.5% of total assets), and 24.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
75.7%
Return on assets
30.4%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 10-07-2025, 21 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
not confirmed
2024
21 d early
2023
34 d early
2022
19 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€1.11M▲ 66.9%
2023 · €666k
2022: €369k
2023: €666k
2022 → 2024
Total assets
€1.47M▲ 35.5%
2023 · €1.08M
2022: €702k
2023: €1.08M
2022 → 2024
Net result
€446k▲ 49.9%
2023 · €297k
2022: €365k
2023: €297k
2022 → 2024
Working capital
€972k▲ 83.3%
2023 · €530k
2022: €236k
2023: €530k
2022 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202220232024Trend
Equity€369k-€666k▲ 80.6%€1.11M▲ 66.9%
Operating result€533k-€416k▼ 22.0%€585k▲ 40.7%
Net result€365k-€297k▼ 18.5%€446k▲ 49.9%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 41% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.47M
Fixed assets
€197k▼ 11.9%
Current assets
€1.27M▲ 47.9%
Equity and liabilities €1.47M
Equity
€1.11M▲ 66.9%
Debt
€356k▼ 14.6%
The debt ratio falls from 38.5% to 24.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€612k▲
2023 · €441k
Cash flow
€472k▲
2023 · €323k
Solvency
75.7%▲
2023 · 61.5%
Current ratio
4.26▲
2023 · 2.61
Quick ratio
3.93▲
2023 · 2.20
Debt / equity
0.32▼
2023 · 0.63
ROE
40.1%▼
2023 · 44.6%
ROA
30.4%▲
2023 · 27.4%
Interest coverage
65.47▼
2023 · 85.29
Debt
€356k▼
2023 · €417k
Debt ≤ 1 year
€298k▼
2023 · €329k
Debt > 1 year
€58k▼
2023 · €89k
Income taxes
€139k▲
2023 · €114k
Staff costs
€67k▲
2023 · €67k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€1.08M€1.47M▲
Fixed assets21/28€224k€197k▼
Tangible fixed assets22/27€224k€197k▼
Land and buildings22€148k€144k▼
Plant, machinery and equipment23€3k€2k▼
Furniture and vehicles24€21k€11k▼
Leasing and similar rights25€51k€40k▼
Other tangible fixed assets26€600€0▼
Current assets29/58€859k€1.27M▲
Stocks and contracts in progress3€135k€98k▼
Stocks30/36€135k€98k▼
Amounts receivable within one year40/41€174k€77k▼
Trade receivables40€124k€28k▼
Other amounts receivable41€50k€49k▼
Current investments50/53€299k€349k▲
Cash at bank and in hand54/58€241k€742k▲
Deferred charges and accrued income490/1€9k€4k▼
Equity and liabilities
Total equity and liabilities10/49€1.08M€1.47M▲
Equity10/15€666k€1.11M▲
Contributions10/11€5k€5k=
Reserves13€661k€787k▲
Tax-exempt reserves132€126k€253k▲
Distributable reserves133€535k€535k=
Profit (loss) carried forward14€0€319k▲
Amounts payable17/49€417k€356k▼
Amounts payable after more than one year17€89k€58k▼
Financial debts170/4€89k€58k▼
Amounts payable within one year42/48€329k€298k▼
Current portion of amounts payable after more than one year42€33k€32k▼
Trade debts44€154k€150k▼
Suppliers440/4€154k€150k▼
Advances received on contracts in progress46€20k€0▼
Taxes, remuneration and social security45€54k€60k▲
Taxes450/3€54k€60k▲
Remuneration and social security454/9€402€0▼
Other amounts payable47/48€68k€56k▼
Income statement
Code20232024
Remuneration, social security and pensions62€67k€67k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€25k€27k▲
Other operating charges640/8€2k€3k▲
Non-recurring operating charges66A€545€0▼
Gross operating margin9900€511k€682k▲
Operating profit (loss)9901€416k€585k▲
Financial income75/76B€196€10k▲
Recurring financial income75€196€10k▲
Financial charges65/66B€5k€9k▲
Recurring financial charges65€5k€9k▲
Profit (loss) for the period before taxes9903€411k€585k▲
Income taxes67/77€114k€139k▲
Profit (loss) for the period9904€297k€446k▲
Transfer to tax-exempt reserves689€126k€126k=
Profit (loss) for the period to be appropriated9905€171k€319k▲
Appropriation of the result
Profit (loss) to be appropriated9906€171k€319k▲
Transfer to equity691/2€171k€0▼
To other reserves6921€171k€0▼
Profit to be distributed694/7€0-
Employees696€0-
Social balance
Average headcount (FTE)90871.21.3▲
The notes to these accounts (17 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2022net €446k ▲49.9%
Operating result €585k, net result €446k, both a record.
31-12
Financial
Equity above €1MEq €1.11M ▲66.9%
3 profitable years in a row build equity to €1.11M.
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €297k ▼18.5%
Net result drops to €297k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €500kEq €666k ▲80.6%
2 profitable years in a row build equity to €666k.
12-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Oostrozebeke · 1 establishment unit since 2021
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Wielsbekestraat 338780 OostrozebekeGround area
1,021 m²
Building footprint
208 m²
Volume, LiDAR
1,335 m³
Parcel 37010E0369/00B003, Flanders · tallest building 9.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GOETHALS TIMO
since 20212.325.506.803
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37010E0369/00B003 | Flanders | 1,021 m² | 1 · 208 m² | 9.6 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 18,950 EUR awarded · 18,950 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 7,553 EUR | 7,553 EUR |
| 2024 | 1 | 7,292 EUR | 7,292 EUR |
| 2023 | 1 | 4,105 EUR | 4,105 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
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Of 9,530 companies in sector 43222 we hold annual accounts for 5,661. 2,944 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded17-12-2021
Fiscal year end31-12
Activities, NACEBEL
43222Installation of electric heating, air conditioning, cooling and ventilation
33110Repair and maintenance of fabricated metal products
Sources
Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.