T.B.W.A.

Active

Public limited companyfounded 1974active for 52 yearsExcelsiorlaan 75-77, 1930 Zaventem, Belgium12 active companies are registered at this addressKBO/BCE: BE 0414.235.827

Summary

T.B.W.A. has been active since 1974 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €570,468 and a net result of €815,392. Equity remains stable across the filed financial years (±0.5% per year). Its solvency ranks better than 13% of 838 sector peers (NACE 73, financial year 2025). The computed 12-month bankruptcy probability is 0.8% (low).

Risk analysisFollow Report Compare

T.B.W.A.ActiveChecked score 67/100

Risk analysis Report Compare

Activity

Advertising agencies

NACE 73110

5th oldest company in Zaventem, Professional and technical services sector1 site

Size

€29.8mturnover 2025

Staff: 74.5 FTE
Equity: €570,468
Profit: €815,392

Financial health

67 Healthy Checked score 2025

Bankruptcy probabilitywithin 12 months: 0.8%

Structure

Parent: Omnicom Advertising Group Belgium · 99.9%
Board: 14 members

Auditor: KPMG BedrijfsrevisorenAccounts filed 62 days late9 of 26 deeds read

Why 67raises riskLiquidity: current ratio 1.02, cash €14,233Equity €570,468 (1.9% of total assets)Latest accounts 62 days late; 1 of the last 3 latelowers riskFounded in 1974Show the evidence

Checked score

Score 2025

67 / 100

Healthy

Probability in this band: 0.55% to 1.5%

Financially better than 27% of its sector peers (NACE 73, medium-sized)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Weak

Solvency 27=

equity 1.9% of total assets

Liquidity 0=

short-term debt 96.5% · cash 0.0%

Profitability 61-10

return on assets 2.8%

Bankruptcy probability, 12 months

0.8% Low

0%0.5%1.5%4%10%≥ 25%

About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (117 companies, NACE 73, medium-sized)

Last 24 months 11-2024: 0.4% 12-2024: 0.4%● unchanged vs 11-2024 01-2025: 0.4%● unchanged vs 12-2024 02-2025: 0.3%▼ -0.1 percentage points vs 01-2025lowest value 03-2025: 0.4%▲ +0.1 percentage points vs 02-2025 04-2025: 0.4%● unchanged vs 03-2025 05-2025: 0.4%● unchanged vs 04-2025 06-2025: 0.4%● unchanged vs 05-2025 07-2025: 0.4%● unchanged vs 06-2025 08-2025: 0.4%● unchanged vs 07-2025 09-2025: 0.4%● unchanged vs 08-2025 10-2025: 0.4%● unchanged vs 09-2025 11-2025: 0.4%● unchanged vs 10-2025 12-2025: 0.4%● unchanged vs 11-2025 01-2026: 0.4%● unchanged vs 12-2025 02-2026: 0.4%● unchanged vs 01-2026 03-2026: 0.4%● unchanged vs 02-2026 04-2026: 0.4%● unchanged vs 03-2026 05-2026: 0.4%● unchanged vs 04-2026 06-2026: 0.4%● unchanged vs 05-2026 07-2026: 0.5%▲ +0.1 percentage points vs 06-2026 08-2026: 0.9%▲ +0.4 percentage points vs 07-2026 09-2026: 1.2%▲ +0.3 percentage points vs 08-2026highest value 10-2026: 0.8%▼ -0.4 percentage points vs 09-2026

Credit of up to €35,000 on 30-day terms is acceptable

Liquidity tight (current ratio 1.02, compared with 0.94 in 2024, below the usual 1.5; short-term debt: 96.5% and cash: 0% of total assets), and 98.1% of the assets are financed with debt and provisions.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 73, medium-sized): better than 8% on solvency, 3% on liquidity, 54% on profitability and 42% on growth.

The bankruptcy probability was computed on 23-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Seven signals.

lowers riskraises riskneutral

Liquidity: current ratio 1.02, cash €14,233

NBB · annual accounts

Equity €570,468 (1.9% of total assets)

NBB · annual accounts

Latest accounts 62 days late; 1 of the last 3 late

NBB · filings

Founded in 1974

Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.

KBO

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 838 sector peers (2025).

NBB · sector comparison

Position among 838 sector peers

Solvency

better than 13%

← weakest strongest →

Growing equity

Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.

NBB · annual accounts 2025

Equity per financial year

1819202122232425

2018 to 2025 · latest year €570,468

A punctual record breaks

This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-10-2026, 62 days late. Weigh it accordingly: of the companies that move to filing 1 to 90 days late, 1.41% are now bankrupt, dissolved or in another special legal status, below the 1.66% of all filers. It is a change in behaviour, not evidence of elevated risk.

NBB · 10 filings

Deviation from the deadline

2025

62 days late

2024

57 days early

2023

63 days early

2022

59 days early

2021

83 days early

2020

67 days early

2019

72 days early

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 48 days before the deadline; the sector median (NACE 73) for financial year 2024 is 6 days before the deadline, and 36% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 2 June (4 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Where today falls in the filing period

24-10-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

01-10-2026 Annual accounts filedfinancial year 2025 · full…
21-09-2026 Appointment: Sylvie Consult (director)Permanent representative: Sylvie Dewaele
17-09-2026 Reappointments: Marieke Michils, Geert Verdonck and…Appointments: Sylvie Dewaele (director) and…

Key points

Caution: Among the weakest 14% on solvencysector median 44.0% · 838 companies 1.9% View
Caution: Result fell in 2025from €1.8m to €815,392 ▼ 54.0% View
Caution: Latest accounts filed lateafter the legal deadline 62 days View
Board changedlatest change 01-07-2026 · 14 in office 2 joined · 1 left View
Positive: 8 profitable years in a rowprofit 2025: €815,392 8 years View
Controlled by Omnicom Advertising Group Belgiumknown shareholders 100% 99.9% View
Active since 1974founded 25-04-1974 52 years View

By topic

Financials

Financial year: 2025
Turnover: €29.8m
Profit: €815,392
Solvency: 1.9%

Turnover▼ 7.5%

Net result

20182025

Go to Financials

Board & ownership

Board: 14 members
Parent: Omnicom Advertising Group Belgium · 99.9%
Known shareholders: 100%
Auditor: KPMG Bedrijfsrevisoren

Geert VerdonckDirector
BAUWHAUSDirector
C&FDirector
LAJURODirector
Marieke MichilsDirector

and 9 other directors

Go to Board & ownership

Network & group

Group: OMNICOM GROUP INC.
Connected companies: 5

Go to Network & group

Timeline

Events: 60
Since: 1978
Next accounts: by 31-07-2027

08-09-2025Resignations: Bert Denis, Jan Macken and Gunther…
09-07-2025Appointment: KPMG Bedrijfsrevisoren (statutory auditor)
04-06-2025Annual accounts filed

Go to Timeline

Company details

Sites: 1

Legal form: Public limited company
Activity: Advertising agenciesNACE 73110
Founded: 25-04-1974
Year ends: 31-12
Peppol: Reachable for e-invoices

Go to Company details

Articles of association

Provisions read: 14

Annual meeting: Second Tuesday of May at 14:00

Go to Articles of association

Key facts about T.B.W.A.

What is the company number of T.B.W.A.?: 0414.235.827. In Belgium the VAT number is the company number with BE in front: BE 0414.235.827.
Where is T.B.W.A. based?: The registered office is at Excelsiorlaan 75-77, 1930 Zaventem.Company details
What does T.B.W.A. do?: According to the KBO register, the main activity is advertising agencies (NACE 73110).
What is the legal form of T.B.W.A.?: Public limited company (NV).
When was T.B.W.A. founded?: On 25-04-1974.
Is T.B.W.A. still active?: Yes, T.B.W.A. is an active enterprise in the KBO register.
How many employees does T.B.W.A. have?: On average 74.5 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of T.B.W.A.?: €29.8m in financial year 2025, according to the filed annual accounts.
Is T.B.W.A. profitable?: In financial year 2025, T.B.W.A. made a profit of €815,392.
Where can I find the annual accounts of T.B.W.A.?: T.B.W.A. filed 47 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of T.B.W.A. due?: By 31-07-2027, for financial year 2026.Timeline