TALWAR
ActiveSummary
TALWAR has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €53,488 and a net result of €14,149. Equity is growing by ~29.7% per year across the filed fiscal years. Its solvency ranks better than 51% of 18606 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71▲+21
Solvency60▲+7
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,000 at 30 days acceptable
Liquidity short (current ratio 0.53 against 0.38 in 2024; short-term debt: 31.6% and cash: 0.4% of total assets), and 65% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
35%
Return on assets
9.3%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 6 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
43 d early
2023
50 d early
2022
39 d early
2021
47 d early
2020
18 d early
2019
43 d 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 30 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 18 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€418,615
EBIT margin
4.4%
Net result
€14,149▲ 1,276%
2024 · €1,028
Working capital
-€22,846▼ 6.6%
2024 · -€21,426
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€418,615
Operating result€26,483▲ 30.6%€7,159▼ 73.0%€15,931▲ 123%€6,133▼ 61.5%€18,236▲ 197%
Net result€17,961within the sector's middle half▲ 45.4%€261within the sector's middle half▼ 98.5%€9,720within the sector's middle half▲ 3,628%€1,028within the sector's middle half▼ 89.4%€14,149within the sector's middle half▲ 1,276%
EBIT margin4.4%
Equity€28,331within the sector's middle half▲ 173%€28,592within the sector's middle half▲ 0.9%€38,312within the sector's middle half▲ 34.0%€39,340within the sector's middle half▲ 2.7%€53,488within the sector's middle half▲ 36.0%
Total assets€180,188within the sector's middle half▼ 14.5%€168,056within the sector's middle half▼ 6.7%€153,487within the sector's middle half▼ 8.7%€140,447within the sector's middle half▼ 8.5%€152,722within the sector's middle half▲ 8.7%
Debt€151,858▼ 24.2%€139,465▼ 8.2%€115,176▼ 17.4%€101,107▼ 12.2%€99,233▼ 1.9%
Working capital-€28,823below the sector's middle half▲ 39.4%-€28,283below the sector's middle half▲ 1.9%-€20,226below the sector's middle half▲ 28.5%-€21,426below the sector's middle half▼ 5.9%-€22,846below the sector's middle half▼ 6.6%
Solvency15.7%within the sector's middle half▲ 10.8pp17.0%within the sector's middle half▲ 1.3pp25.0%within the sector's middle half▲ 7.9pp28.0%within the sector's middle half▲ 3.0pp35.0%within the sector's middle half▲ 7.0pp
Current ratio0.33below the sector's middle half▼ 0.060.36below the sector's middle half▲ 0.030.41below the sector's middle half▲ 0.050.38below the sector's middle half▼ 0.020.53below the sector's middle half▲ 0.14
Return on assets (ROA)10.0%within the sector's middle half▲ 4.1pp0.2%within the sector's middle half▼ 9.8pp6.3%within the sector's middle half▲ 6.2pp0.7%within the sector's middle half▼ 5.6pp9.3%within the sector's middle half▲ 8.5pp
Staff (FTE)0.1
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 197% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €152,722
Fixed assets
€127,354 ▲ 0.2%
Current assets
€25,368 ▲ 89.4%
Equity and liabilities €152,722
Equity
€53,488 ▲ 36.0%
Debt
€99,233 ▼ 1.9%
Debt's share of the balance-sheet total falls from 72.0% to 65.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€32,453▲
2024 · €18,583
Cash flow
€28,365▲
2024 · €13,478
Debt to equity
1.86▼
2024 · 2.57
ROE
26.5%▲
2024 · 2.6%
Interest coverage
7.94▲
2024 · 3.64
Debt ≤ 1 year
€48,214▲
2024 · €34,823
Debt > 1 year
€51,019▼
2024 · €66,285
Staff costs
€1,284
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,679 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 34,679 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €418,615 | - |
| Non-recurring operating income76A | €13,527 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €383,787 | - |
| Remuneration, social security and pensions62 | - | - | - | - | €1,284 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,850 | €13,850 | €12,450 | €12,450 | €14,216 | ▲ 14.2% |
| Other operating charges640/8 | €7,404 | €889 | €5,222 | €2,383 | €4,702 | ▲ 97.3% |
| Gross operating margin9900 | €47,737 | €21,897 | €33,603 | €20,967 | €38,439 | ▲ 83.3% |
| Operating profit (loss)9901 | €26,483 | €7,159 | €15,931 | €6,133 | €18,236 | ▲ 197% |
| Financial income75/76B | €17 | €1 | - | €1 | - | - |
| Recurring financial income75 | €17 | €1 | - | €1 | - | - |
| Financial charges65/66B | €8,538 | €6,899 | €6,211 | €5,106 | €4,088 | ▼ 19.9% |
| Recurring financial charges65 | €8,538 | €6,899 | €6,211 | €5,106 | €4,088 | ▼ 19.9% |
| Profit (loss) for the period before taxes9903 | €17,961 | €261 | €9,720 | €1,028 | €14,149 | ▲ 1,276% |
| Profit (loss) for the period9904 | €17,961 | €261 | €9,720 | €1,028 | €14,149 | ▲ 1,276% |
| Profit (loss) for the period to be appropriated9905 | €17,961 | €261 | €9,720 | €1,028 | €14,149 | ▲ 1,276% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €180,188 | €168,056 | €153,487 | €140,447 | €152,722 | ▲ 8.7% |
| Fixed assets21/28 | €165,800 | €151,950 | €139,500 | €127,050 | €127,354 | ▲ 0.2% |
| Intangible fixed assets21 | €1,400 | - | - | - | - | - |
| Tangible fixed assets22/27 | €161,850 | €149,400 | €136,950 | €124,500 | €124,804 | ▲ 0.2% |
| Land and buildings22 | €161,850 | €149,400 | €136,950 | €124,500 | €112,050 | ▼ 10.0% |
| Furniture and vehicles24 | - | - | - | - | €12,754 | - |
| Financial fixed assets28 | €2,550 | €2,550 | €2,550 | €2,550 | €2,550 | = |
| Current assets29/58 | €14,388 | €16,106 | €13,987 | €13,397 | €25,368 | ▲ 89.4% |
| Stocks and contracts in progress3 | €11,612 | €14,776 | €11,648 | €12,583 | - | - |
| Stocks30/36 | €11,612 | €14,776 | €11,648 | €12,583 | - | - |
| Amounts receivable within one year40/41 | €588 | €1,285 | €858 | €0 | €24,697 | - |
| Trade receivables40 | - | - | - | - | €673 | - |
| Other amounts receivable41 | €588 | €1,285 | €858 | €0 | €24,024 | - |
| Cash at bank and in hand54/58 | €2,188 | €46 | €1,482 | €279 | €671 | ▲ 141% |
| Deferred charges and accrued income490/1 | - | - | - | €535 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €180,188 | €168,056 | €153,487 | €140,447 | €152,722 | ▲ 8.7% |
| Equity10/15 | €28,331 | €28,592 | €38,312 | €39,340 | €53,488 | ▲ 36.0% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €9,731 | €9,992 | €19,712 | €20,740 | €20,740 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €7,871 | €8,132 | €17,852 | €18,880 | €18,880 | = |
| Profit (loss) carried forward14 | - | - | - | - | €14,149 | - |
| Amounts payable17/49 | €151,858 | €139,465 | €115,176 | €101,107 | €99,233 | ▼ 1.9% |
| Amounts payable after more than one year17 | €108,646 | €95,076 | €80,962 | €66,285 | €51,019 | ▼ 23.0% |
| Financial debts170/4 | €108,646 | €95,076 | €80,962 | €66,285 | €51,019 | ▼ 23.0% |
| Amounts payable within one year42/48 | €43,211 | €44,389 | €34,213 | €34,823 | €48,214 | ▲ 38.5% |
| Current portion of amounts payable after more than one year42 | €14,113 | €14,678 | €14,113 | €14,678 | €15,265 | ▲ 4.0% |
| Financial debts43 | €14,924 | €14,982 | €14,851 | €6,430 | €6,731 | ▲ 4.7% |
| Credit institutions430/8 | €14,924 | €14,982 | €14,851 | €6,430 | €6,731 | ▲ 4.7% |
| Trade debts44 | €433 | €6,028 | €4,857 | €12,006 | €11,716 | ▼ 2.4% |
| Suppliers440/4 | €433 | €6,028 | €4,857 | €12,006 | €11,716 | ▼ 2.4% |
| Taxes, remuneration and social security45 | - | - | - | €177 | €2,631 | ▲ 1,385% |
| Taxes450/3 | - | - | - | €177 | €2,631 | ▲ 1,385% |
| Other amounts payable47/48 | €13,742 | €8,702 | €392 | €1,532 | €11,870 | ▲ 675% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,961 | €261 | €9,720 | €1,028 | €14,149 | ▲ 1,276% |
| + Depreciation and write-downs630 | €13,850 | €13,850 | €12,450 | €12,450 | €14,216 | ▲ 14.2% |
| Operating cash flow (approximation) | €31,811 | €14,111 | €22,170 | €13,478 | €28,365 | ▲ 110% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€14,520 | - |
| Change in cash | - | -€2,142 | €1,436 | -€1,203 | €392 | ▲ 133% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
18-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
11-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €261 ▼98.5%
Net result drops to €261, the lowest in the series; recovery starts the following year.
14-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €17,961 ▲45.4%
Operating result €26,483, net result €17,961, both a record.
13-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
18-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
25-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 209 days late
2018
11-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 42 days late
2016
25-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are 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, Malle
Ground area
918 m²
Building footprint
355 m²
Volume, LiDAR
2,407 m³
Parcel 11049A0754/00V000, Flanders · tallest building 11.8 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11049A0754/00V000 | Flanders | 918 m² | 1 · 355 m² | 11.8 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 10,510 companies in sector 47110 we hold annual accounts for 5,854. 4,648 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded13-08-2012
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
E-invoicing
Reachable via Peppol
Peppol ID
0208:0848005078
Also
9925:BE0848005078
Registered
08-07-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.