TEAMWORK GROUP BV
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 27 days after the deadline Filed on 27 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00434083.
Annual accounts 2025 filed on 27-08-2026 at the NBB all 5 filings
Turnover
≈ €390,000
Estimated: probably between €330,000 and €460,000
Total assets
€275,970▼ 4.4%
2024 · €288,617
Net result
€124,800▲ 278×
2024 · €448
Working capital
€3,561
2024 · -€147,247
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€127,403
▲ 40×
2025
20212025
Net result
€124,800
▲ 278×
2025
highest quarter of the sector
20212025
Equity
€45,307
2025
middle half of the sector
20212025
Total assets
€275,970
▼ 4.4%
2025
middle half of the sector
20212025
Debt
€230,663
▼ 44.8%
2025
20212025
Working capital
€3,561
2025
middle half of the sector
20212025
Solvency
16.4%
▲ 61.1pp
2025
lowest quarter of the sector
20212025
Current ratio
1.02
▲ 0.37
2025
middle half of the sector
20212025
Return on assets (ROA)
45.2%
▲ 45.1pp
2025
highest quarter of the sector
20212025
Staff (FTE)
1.7
▲ 6.3%
2025
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€6,464-€20,119▲ 211%-€157,822€3,166€127,403▲ 40×
Net result€2,745below the sector's middle half-€14,918within the sector's middle half▲ 443%-€159,423below the sector's middle half€448below the sector's middle half€124,800above the sector's middle half▲ 278×
Equity€15,145below the sector's middle half-€30,063below the sector's middle half▲ 98.5%-€129,361below the sector's middle half-€128,913below the sector's middle half▲ 0.3%€45,307within the sector's middle half
Total assets€66,836below the sector's middle half-€122,709below the sector's middle half▲ 83.6%€622,516within the sector's middle half▲ 407%€288,617below the sector's middle half▼ 53.6%€275,970within the sector's middle half▼ 4.4%
Debt€51,691-€92,646▲ 79.2%€751,877▲ 712%€417,529▼ 44.5%€230,663▼ 44.8%
Working capital-€1,586within the sector's middle half--€174within the sector's middle half▲ 89.0%-€149,695below the sector's middle half▼ 85,932%-€147,247below the sector's middle half▲ 1.6%€3,561within the sector's middle half
Solvency22.7%below the sector's middle half-24.5%below the sector's middle half▲ 1.8pp-20.8%below the sector's middle half▼ 45.3pp-44.7%below the sector's middle half▼ 23.9pp16.4%below the sector's middle half▲ 61.1pp
Current ratio0.97within the sector's middle half-1.00within the sector's middle half▲ 0.030.80within the sector's middle half▼ 0.200.65within the sector's middle half▼ 0.151.02within the sector's middle half▲ 0.37
Return on assets (ROA)4.1%within the sector's middle half-12.2%within the sector's middle half▲ 8.1pp-25.6%below the sector's middle half▼ 37.8pp0.2%below the sector's middle half▲ 25.8pp45.2%above the sector's middle half▲ 45.1pp
Staff (FTE)2.6within the sector's middle half-5.7above the sector's middle half1.6within the sector's middle half▼ 71.9%1.7▲ 6.3%
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is over 40 times that of 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Large changes and their cause
- 2025 Net result +27,730% on 2024. Merger absorbing TEAMWORK PROJECTS, effective 30-06-2025. The accounts now follow the micro format, last year the abbreviated format.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €275,970
Fixed assets
€41,746 ▲ 128%
Current assets
€234,224 ▼ 13.3%
Equity and liabilities €275,970
Equity
€45,307
Debt
€230,663
Debt's share of the balance-sheet total is 83.6%.
Key figures and ratios
EBITDA
€138,035▲
2024 · €5,166
Cash flow
€135,432▲
2024 · €2,448
Debt to equity
5.09
ROE
275.5%
Interest coverage
52.16▲
2024 · 1.90
Debt ≤ 1 year
€230,663▼
2024 · €417,529
Staff costs
€86,368▼
2024 · €96,009
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 5 | 3 | 2 |
| full-time | 1 | 5 | 2 | 1 |
| part-time | - | - | 1 | 1 |
| in full-time equivalents | 1 | 5 | 2 | 1.4 |
| Average over the year, in full-time equivalents | 2.6 | 5.7 | 1.6 | 1.7 |
| On a permanent contract | - | 5 | 2 | 1 |
| Joined | 128 | 6 | 2 | 5 |
| Left | 127 | 1 | 5 | 5 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €5,700 | €17,955 | - | - | €20,270 |
| Financial fixed assets | €12,400 | - | - | - | - |
| Depreciation and write-downs of the year | €1,369 | €118 | €2,000 | €2,000 | €10,632 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €296,901 | €1,600 | ▼ 99.5% |
| Remuneration, social security and pensions62 | €88,093 | €337 | €291,674 | €96,009 | €86,368 | ▼ 10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,369 | €118 | €2,000 | €2,000 | €10,632 | ▲ 432% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €11,250 | - | - | - |
| Other operating charges640/8 | €1,023 | €545 | €8,454 | €274,491 | €894 | ▼ 99.7% |
| Non-recurring operating charges66A | - | - | €7,903 | - | €2,416 | - |
| Gross operating margin9900 | €96,949 | €21,119 | €163,459 | €375,666 | €227,712 | ▼ 39.4% |
| Operating profit (loss)9901 | €6,464 | €20,119 | -€157,822 | €3,166 | €127,403 | ▲ 40× |
| Financial income75/76B | €35 | €1,369 | - | €1 | €43 | ▲ 84× |
| Recurring financial income75 | €35 | €1,369 | - | €1 | €43 | ▲ 84× |
| Non-recurring financial income76B | - | €1,369 | - | - | - | - |
| Financial charges65/66B | €2,654 | €720 | €1,731 | €2,718 | €2,646 | ▼ 2.6% |
| Recurring financial charges65 | €2,654 | €720 | €1,398 | €2,718 | €2,646 | ▼ 2.6% |
| Non-recurring financial charges66B | - | - | €333 | - | - | - |
| Profit (loss) for the period before taxes9903 | €3,845 | €20,768 | -€159,552 | €448 | €124,800 | ▲ 278× |
| Income taxes67/77 | €1,100 | €5,850 | -€129 | - | - | - |
| Profit (loss) for the period9904 | €2,745 | €14,918 | -€159,423 | €448 | €124,800 | ▲ 278× |
| Transfer to tax-exempt reserves689 | - | - | - | - | €0 | - |
| Profit (loss) for the period to be appropriated9905 | €2,745 | €14,918 | -€159,423 | €448 | €124,800 | ▲ 278× |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €66,836 | €122,709 | €622,516 | €288,617 | €275,970 | ▼ 4.4% |
| Fixed assets21/28 | €16,731 | €30,237 | €20,334 | €18,334 | €41,746 | ▲ 128% |
| Tangible fixed assets22/27 | €4,331 | €17,837 | €7,934 | €5,934 | €32,996 | ▲ 456% |
| Plant, machinery and equipment23 | - | - | - | - | €23,363 | - |
| Furniture and vehicles24 | €4,331 | €17,837 | €7,934 | €5,934 | €5,028 | ▼ 15.3% |
| Other tangible fixed assets26 | - | - | - | - | €4,604 | - |
| Financial fixed assets28 | €12,400 | €12,400 | €12,400 | €12,400 | €8,750 | ▼ 29.4% |
| Current assets29/58 | €50,105 | €92,472 | €602,182 | €270,282 | €234,224 | ▼ 13.3% |
| Amounts receivable within one year40/41 | €49,345 | €90,550 | €597,096 | €263,105 | €195,216 | ▼ 25.8% |
| Trade receivables40 | €38,595 | €85,800 | €92,363 | €22,143 | €140,871 | ▲ 536% |
| Other amounts receivable41 | €10,750 | €4,750 | €504,734 | €240,962 | €54,345 | ▼ 77.4% |
| Cash at bank and in hand54/58 | €760 | €1,922 | €4,103 | €2,750 | €33,822 | ▲ 12× |
| Deferred charges and accrued income490/1 | - | - | €982 | €4,428 | €5,186 | ▲ 17.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €66,836 | €122,709 | €622,516 | €288,617 | €275,970 | ▼ 4.4% |
| Equity10/15 | €15,145 | €30,063 | -€129,361 | -€128,913 | €45,307 | - |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | - | - | - | - | €248,431 | - |
| Tax-exempt reserves132 | - | - | - | - | €248,431 | - |
| Profit (loss) carried forward14 | €2,745 | €17,663 | -€141,761 | -€141,313 | -€215,524 | ▼ 52.5% |
| Amounts payable17/49 | €51,691 | €92,646 | €751,877 | €417,529 | €230,663 | ▼ 44.8% |
| Amounts payable within one year42/48 | €51,691 | €92,646 | €751,877 | €417,529 | €230,663 | ▼ 44.8% |
| Financial debts43 | - | - | - | - | €64 | - |
| Other loans439 | - | - | - | - | €64 | - |
| Trade debts44 | €22,541 | €25,643 | €147,682 | €124,022 | €169,121 | ▲ 36.4% |
| Suppliers440/4 | €22,541 | €25,643 | €147,682 | €124,022 | €169,121 | ▲ 36.4% |
| Taxes, remuneration and social security45 | €15,050 | €8,265 | €65,509 | €44,626 | €19,871 | ▼ 55.5% |
| Taxes450/3 | €12,872 | €8,265 | €364 | €31,678 | €11,491 | ▼ 63.7% |
| Remuneration and social security454/9 | €2,178 | - | €65,145 | €12,948 | €8,379 | ▼ 35.3% |
| Other amounts payable47/48 | €14,100 | €58,738 | €538,686 | €248,881 | €41,607 | ▼ 83.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,745 | €14,918 | -€159,423 | €448 | €124,800 | ▲ 278× |
| + Depreciation and write-downs630 | €1,369 | €118 | €2,000 | €2,000 | €10,632 | ▲ 432% |
| Operating cash flow (approximation) | €4,114 | €15,036 | -€157,423 | €2,448 | €135,432 | ▲ 55× |
| Investment in fixed assets (approximation) | - | -€13,624 | €7,903 | €0 | -€34,044 | - |
| Change in cash | - | €1,162 | €2,181 | -€1,353 | €31,072 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 6,713 companies had the same profile as TEAMWORK GROUP BV has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.8%
was still going
2.2%
stopped otherwise
1.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of TEAMWORK GROUP BV itself is higher: 11.7% within 12 months. It rests on far more data about TEAMWORK GROUP BV than the profile alone.
Test of the method
The method was tested on the 497,446 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 6,713 companies, not a prediction for TEAMWORK GROUP BV. 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.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 27-08-2026 | 2026-00434083 | |
| 31-12-2024 | abbreviated format | 29-08-2025 | 2025-00437021 | |
| 31-12-2023 | abbreviated format | 07-10-2024 | 2024-00496590 | |
| 31-12-2022 | abbreviated format | 29-08-2023 | 2023-00401386 | |
| 31-12-2021 | abbreviated format | 29-07-2022 | 2022-20264383 |