TEMLI
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 02-06-2026 PDF all 5 filings
Turnover
≈ €1.8m
Estimated: probably between €790,000 and €3.3m
Total assets
€567,852▼ 5.3%
2024 · €599,921
Net result
€124,329▲ 24.5%
2024 · €99,872
Working capital
€204,708▼ 25.8%
2024 · €275,903
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€172,851
▲ 14.4%
2025
20212025
Net result
€124,329
▲ 24.5%
2025
highest quarter of the sector
20212025
Equity
€315,436
▼ 15.0%
2025
highest quarter of the sector
20212025
Total assets
€567,852
▼ 5.3%
2025
highest quarter of the sector
20212025
Debt
€252,416
▲ 10.3%
2025
20212025
Working capital
€204,708
▼ 25.8%
2025
highest quarter of the sector
20212025
Solvency
55.5%
▼ 6.3pp
2025
middle half of the sector
20212025
Current ratio
1.84
▼ 0.49
2025
middle half of the sector
20212025
Return on assets (ROA)
21.9%
▲ 5.2pp
2025
highest quarter of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€213,574-€66,175▼ 69.0%€67,074▲ 1.4%€151,064▲ 125%€172,851▲ 14.4%
Net result€169,702within the sector's middle half-€50,188above the sector's middle half▼ 70.4%€46,345above the sector's middle half▼ 7.7%€99,872above the sector's middle half▲ 115%€124,329above the sector's middle half▲ 24.5%
Equity€174,702within the sector's middle half-€224,890above the sector's middle half▲ 28.7%€271,236above the sector's middle half▲ 20.6%€371,108above the sector's middle half▲ 36.8%€315,436above the sector's middle half▼ 15.0%
Total assets€342,104below the sector's middle half-€386,376within the sector's middle half▲ 12.9%€508,100above the sector's middle half▲ 31.5%€599,921above the sector's middle half▲ 18.1%€567,852above the sector's middle half▼ 5.3%
Debt€167,402-€161,486▼ 3.5%€236,865▲ 46.7%€228,813▼ 3.4%€252,416▲ 10.3%
Working capital€81,833within the sector's middle half-€129,356above the sector's middle half▲ 58.1%€151,779above the sector's middle half▲ 17.3%€275,903above the sector's middle half▲ 81.8%€204,708above the sector's middle half▼ 25.8%
Solvency51.1%within the sector's middle half-58.2%within the sector's middle half▲ 7.1pp53.4%within the sector's middle half▼ 4.8pp61.9%within the sector's middle half▲ 8.5pp55.5%within the sector's middle half▼ 6.3pp
Current ratio1.78within the sector's middle half-2.53within the sector's middle half▲ 0.751.80within the sector's middle half▼ 0.732.34within the sector's middle half▲ 0.531.84within the sector's middle half▼ 0.49
Return on assets (ROA)49.6%above the sector's middle half-13.0%within the sector's middle half▼ 36.6pp9.1%within the sector's middle half▼ 3.9pp16.6%above the sector's middle half▲ 7.5pp21.9%above the sector's middle half▲ 5.2pp
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 14% higher than in 2024. It is the third rise in a row, after the fall in 2022.
Large changes and their cause
- 2022 Net result -70% on 2021. 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 €567,852
Fixed assets
€119,707 ▲ 2.0%
Current assets
€448,145 ▼ 7.1%
Equity and liabilities €567,852
Equity
€315,436 ▼ 15.0%
Debt
€252,416 ▲ 10.3%
Debt's share of the balance-sheet total rises from 38.1% to 44.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€218,267▲
2024 · €200,499
Cash flow
€169,745▲
2024 · €149,308
Quick ratio
1.67▼
2024 · 2.10
Debt to equity
0.80▲
2024 · 0.62
ROE
39.4%▲
2024 · 26.9%
Interest coverage
71.35▲
2024 · 13.78
Debt ≤ 1 year
€243,437▲
2024 · €206,629
Debt > 1 year
€5,979▼
2024 · €18,792
Income taxes
€45,643▲
2024 · €36,660
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €118,774 | €61,024 | €21,388 | - | €47,734 |
| Intangible fixed assets | €80,000 | - | €25,000 | - | - |
| Depreciation and write-downs of the year | €43,587 | €43,800 | €51,974 | €49,436 | €45,416 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €43,587 | €43,800 | €51,974 | €49,436 | €45,416 | ▼ 8.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €3,025 | - | - | - | - | - |
| Other operating charges640/8 | €2,180 | €2,710 | €11,672 | €3,000 | €4,489 | ▲ 49.7% |
| Gross operating margin9900 | €262,367 | €112,686 | €130,720 | €203,499 | €222,756 | ▲ 9.5% |
| Operating profit (loss)9901 | €213,574 | €66,175 | €67,074 | €151,064 | €172,851 | ▲ 14.4% |
| Financial income75/76B | €41 | €473 | €35 | €15 | €180 | ▲ 12× |
| Recurring financial income75 | €41 | €473 | €35 | €15 | €180 | ▲ 12× |
| Financial charges65/66B | €1,572 | €1,208 | €1,232 | €14,547 | €3,059 | ▼ 79.0% |
| Recurring financial charges65 | €1,572 | €1,208 | €1,232 | €14,547 | €3,059 | ▼ 79.0% |
| Profit (loss) for the period before taxes9903 | €212,043 | €65,441 | €65,877 | €136,532 | €169,972 | ▲ 24.5% |
| Income taxes67/77 | €42,341 | €15,253 | €19,531 | €36,660 | €45,643 | ▲ 24.5% |
| Profit (loss) for the period9904 | €169,702 | €50,188 | €46,345 | €99,872 | €124,329 | ▲ 24.5% |
| Profit (loss) for the period to be appropriated9905 | €169,702 | €50,188 | €46,345 | €99,872 | €124,329 | ▲ 24.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €342,104 | €386,376 | €508,100 | €599,921 | €567,852 | ▼ 5.3% |
| Fixed assets21/28 | €155,186 | €172,410 | €166,824 | €117,389 | €119,707 | ▲ 2.0% |
| Intangible fixed assets21 | €67,671 | €55,671 | €66,743 | €52,814 | €38,886 | ▼ 26.4% |
| Tangible fixed assets22/27 | €87,515 | €116,739 | €100,082 | €64,575 | €80,821 | ▲ 25.2% |
| Land and buildings22 | - | - | €10,855 | €10,069 | €9,282 | ▼ 7.8% |
| Plant, machinery and equipment23 | €9,294 | €7,556 | €13,861 | €9,924 | €19,545 | ▲ 97.0% |
| Furniture and vehicles24 | €78,221 | €109,183 | €75,365 | €44,583 | €51,995 | ▲ 16.6% |
| Current assets29/58 | €186,918 | €213,966 | €341,276 | €482,532 | €448,145 | ▼ 7.1% |
| Stocks and contracts in progress3 | €43,313 | €42,466 | €37,378 | €48,312 | €42,186 | ▼ 12.7% |
| Stocks30/36 | €43,313 | €42,466 | €37,378 | €48,312 | €42,186 | ▼ 12.7% |
| Amounts receivable within one year40/41 | €98,876 | €126,648 | €177,937 | €156,990 | €227,887 | ▲ 45.2% |
| Trade receivables40 | €85,302 | €97,943 | €176,583 | €156,990 | €212,618 | ▲ 35.4% |
| Other amounts receivable41 | €13,574 | €28,705 | €1,354 | - | €15,269 | - |
| Cash at bank and in hand54/58 | €42,898 | €42,225 | €124,586 | €277,156 | €177,185 | ▼ 36.1% |
| Deferred charges and accrued income490/1 | €1,831 | €2,627 | €1,375 | €74 | €887 | ▲ 12× |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €342,104 | €386,376 | €508,100 | €599,921 | €567,852 | ▼ 5.3% |
| Equity10/15 | €174,702 | €224,890 | €271,236 | €371,108 | €315,436 | ▼ 15.0% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €169,702 | €219,890 | €266,236 | €366,108 | €310,436 | ▼ 15.2% |
| Distributable reserves133 | €169,702 | €219,890 | €266,236 | €366,108 | €310,436 | ▼ 15.2% |
| Amounts payable17/49 | €167,402 | €161,486 | €236,865 | €228,813 | €252,416 | ▲ 10.3% |
| Amounts payable after more than one year17 | €62,317 | €76,876 | €46,945 | €18,792 | €5,979 | ▼ 68.2% |
| Financial debts170/4 | €62,317 | €76,876 | €46,945 | €18,792 | €5,979 | ▼ 68.2% |
| Amounts payable within one year42/48 | €105,085 | €84,610 | €189,497 | €206,629 | €243,437 | ▲ 17.8% |
| Current portion of amounts payable after more than one year42 | €20,690 | €29,649 | €29,931 | €28,153 | €12,813 | ▼ 54.5% |
| Financial debts43 | €10,048 | - | - | - | - | - |
| Credit institutions430/8 | €10,048 | - | - | - | - | - |
| Trade debts44 | €65,156 | €54,961 | €151,897 | €150,224 | €222,288 | ▲ 48.0% |
| Suppliers440/4 | €65,156 | €54,961 | €151,897 | €150,224 | €222,288 | ▲ 48.0% |
| Taxes, remuneration and social security45 | - | - | - | €20,482 | €8,336 | ▼ 59.3% |
| Taxes450/3 | - | - | - | €20,482 | €8,336 | ▼ 59.3% |
| Other amounts payable47/48 | €9,192 | - | €7,669 | €7,769 | - | - |
| Accrued charges and deferred income492/3 | - | - | €423 | €3,393 | €3,000 | ▼ 11.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €169,702 | €50,188 | €46,345 | €99,872 | €124,329 | ▲ 24.5% |
| + Depreciation and write-downs630 | €43,587 | €43,800 | €51,974 | €49,436 | €45,416 | ▼ 8.1% |
| Operating cash flow (approximation) | €213,290 | €93,988 | €98,319 | €149,308 | €169,745 | ▲ 13.7% |
| Investment in fixed assets (approximation) | - | -€61,024 | -€46,388 | €0 | -€47,734 | - |
| Change in cash | - | -€673 | €82,361 | €152,571 | -€99,972 | - |
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, 6,782 companies had the same profile as TEMLI has now. Two years later, 96.7% were still going and 0.6% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.7%
was still going
2.7%
stopped otherwise
0.6%
went bankrupt
That fits the bankruptcy probability of TEMLI itself: 0.1% within 12 months.
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 6,782 companies, not a prediction for TEMLI. 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 | 02-06-2026 | 2026-00137984 | |
| 31-12-2024 | micro format | 01-07-2025 | 2025-00219573 | |
| 31-12-2023 | micro format | 04-07-2024 | 2024-00216138 | |
| 31-12-2022 | micro format | 19-07-2023 | 2023-00257606 | |
| 31-12-2021 | abbreviated format | 27-07-2022 | 2022-20228618 |