Equity
-€3,710
Debts exceed assets in financial year 2025.
T.O.G.
Lifetime
20 annual accounts with figures on one time axis, 21 filings since 2005peak €152,106 (2023)
-€42,247▼ €191,554
lowest -€340,982 (2006)
-€165,988▼ €183,946
peak €372,680 (2017)
-€3,710▼ €165,988
€4.6m▲ 114%
peak 1 FTE (2019)
1 FTEunchanged
Board2 names since 2021
1 directorTheeuwes Victor Han Henri
Owners
100%VITHECO
Documentsfilings and deeds
28-07-20263 days before the deadline
2025financial year
Gross margin from €149,307 to -€42,247Loss of €165,988Equity from €162,278 to -€3,710Debts from €2.1m to €4.6mCash from €4,415 to €12,708
Key points
from the 2025 annual accountsResult
-€165,988 -€165,988
From profit to loss in 2025, after a profit of €17,958 in 2024.
Debts
€4.6m 100% of the balance sheet
Financial debts 99%Suppliers 1%Taxes and wages 0%
Of this, €2.0m falls due within a year.
Liquidity
2.31 was 10.55 in 2024
Short-term debts rose from €214,361 to €2.0m.
Filings
21 annual accounts since 2005
The last five annual accounts were filed 3 to 108 days before the end of the period.
Position in the sector
-€165,988
Lower net result than 86% of companies in real estate. Sector median €20,538 · 5,811 companies.
Checked score
53
Fair
Financially stronger than 16% of micro companies in real estate (NACE 68)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.7% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,626 companies (NACE 68, micro).
About 7 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%lowest value
01-2025: 0.2%● unchanged vs 12-2024lowest value
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.3%▲ +0.1 percentage points vs 05-2025
07-2025: 0.4%▲ +0.1 percentage points vs 06-2025
08-2025: 0.3%▼ -0.1 percentage points vs 07-2025
09-2025: 0.3%● unchanged vs 08-2025
10-2025: 0.3%● unchanged vs 09-2025
11-2025: 0.3%● unchanged vs 10-2025
12-2025: 0.3%● unchanged vs 11-2025
01-2026: 0.3%● unchanged vs 12-2025
02-2026: 0.4%▲ +0.1 percentage points 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: 0.4%● unchanged vs 06-2026
08-2026: 0.7%▲ +0.3 percentage points vs 07-2026highest value
09-2026: 0.7%● unchanged vs 08-2026highest value
10-2026: 0.7%● unchanged vs 09-2026
11-2026: 0.7%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Negative equity -€3,710
Liquidity: current ratio 2.31, cash €12,708
Loss of €165,988 (financial year 2025)
lowers risk
Size: 1 FTE, total assets €4.6m
Calculation
The band follows from the bankruptcy probability. 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 68, micro). It does better than 19% of them on solvency, 23% on liquidity, 16% on profitability and 5% on growth.
The bankruptcy probability was computed on 06-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 2,796 companies had the same profile as T.O.G. has now. Each dot stands for 7 companies, two years later.
90.4%
were still trading
6.0%
stopped another way
2.1%
went bankrupt
Another 1.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of T.O.G. itself: 0.7% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,796 companies, not a prediction for T.O.G.. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
No credit on open account
Liquidity is ample, with a current ratio of 2.31 (10.55 in 2024), above the usual 1.5. Short-term debt is 42.9% and cash 0.3% of total assets. However, equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€3,710
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 days early
2024
7 days early
2023
8 days early
2022
17 days early
2021
108 days early
2020
3 days early
2019
7 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 22 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · 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 24 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
07-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0863267138
Environmental permit granted
Bouwen of herbouwen, Nieuwbouw van bijgebouwen en niet overdekte lage constructie · Grobbendonk
1 director resigning
Change of role: Theeuwes Victor Han Henri, from managing director to statutory director · Resignation: Vitheco · Permanent representative: Theeuwes Victor Han Henri · General meeting of 12-07-2021 · Gazette deed
Environmental permit granted
Bouwen of herbouwen, Nieuwbouw van bijgebouwen en niet overdekte lage constructie · Malle
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| T.O.G. Zandhoven | €4.6m | -€42,247 | -0.1% | 1 |
| BUILDING MANAGEMENT SERVICE & STAFFING Modave | €3.8m | -€84,271 | -2.4% | 1 |
| T & K INVEST Liège | €4.4m | -€109,720 | -11.8% | 1 |
| LLYDA Affligem | €5.0m | -€664,983 | -17.2% | 1 |
| ORGANO Antwerp | €12.0m | -€79,320 | 0.6% | 0.8 |
| SOENEN-DEQUAE Oostkamp | €4.2m | -€31,011 | 12.9% | 0.3 |
| BASTIDE Kortrijk | €3.1m | -€139,552 | 4.4% | 1 |
These companies have the same main activity as T.O.G.: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €3.1m and €12m, founded between 1995 and 2012.
Official details
Source: KBO- Status
- Active since 06-02-2004Normal situation
- Activity
- Development of residential building projectsNACE 68121
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.136.224.3672240 Zandhoven, since 03-02-2004
- Financial year end
- 31 December
- Peppol
- Reachable since 31-12-2025
Annual accounts 2025
- €4.6m▲ 99.1%
- Employeeson 31-12-2025
- 1=
- Filing
- Filed on 28-07-2026, 3 days before the end of the filing period
Insights on T.O.G.
Solvency fell in 2025 from 7.0% to -0.1% because of the loss and higher long-term debts.
VITHECO holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about T.O.G.
- What is the company number of T.O.G.?
- The company number of T.O.G. is 0863.267.138. The VAT number is the same number with BE in front: BE 0863.267.138.
- Where is T.O.G. based?
- The registered office is at Vierselbaan 111, 2240 Zandhoven.Company details
- What does T.O.G. do?
- According to the KBO register, the main activity is development of residential building projects (NACE 68121).
- What is the legal form of T.O.G.?
- T.O.G. is a public limited company (NV).
- When was T.O.G. founded?
- T.O.G. was founded on 06-02-2004.
- Is T.O.G. still active?
- Yes, T.O.G. is an active enterprise in the KBO register.
- How many employees does T.O.G. have?
- T.O.G. had an average of 1 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does T.O.G. fall under?
- In its 2025 annual accounts, T.O.G. states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of T.O.G.?
- The annual accounts for financial year 2025 state no turnover.
- Is T.O.G. profitable?
- In financial year 2025, T.O.G. made a loss of €165,988.
- Where can I find the annual accounts of T.O.G.?
- T.O.G. filed 21 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of T.O.G. due?
- T.O.G. must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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