TIBEFLEX
ActiveSummary
TIBEFLEX has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €285,144 and a net result of €150,164. Equity is growing by ~10.6% per year across the filed fiscal years. Its solvency ranks better than 20% of 7967 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▲+12
Solvency44▼-1
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €16,000 at 30 days acceptable
Liquidity tight (current ratio 1.4 against 1.43 in 2024; short-term debt: 52.3% and cash: 0.4% of total assets), and 81.1% of the assets are financed with debt.
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Signals
Five 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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
18.9%
Return on assets
10%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 7967 sector peers (2025).
NBB · sector comparisonPosition among 7967 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-09-2026, 40 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
40 d late
2024
60 d late
2023
46 d late
2022
70 d late
2021
77 d late
2020
30 d late
2019
104 d late
← 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 61 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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 29 September (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€285,144▲ 11.8%
2024 · €254,980
Total assets
€1.5m▲ 16.1%
2024 · €1.3m
Net result
€150,164▲ 7,795%
2024 · €1,902
Working capital
€315,175▲ 18.3%
2024 · €266,516
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€249,280▲ 62.1%€153,427▼ 38.5%€300,251▲ 95.7%€19,550▼ 93.5%€227,020▲ 1,061%
Net result€206,422above the sector's middle half▲ 64.0%€100,661within the sector's middle half▼ 51.2%€225,659above the sector's middle half▲ 124%€1,902below the sector's middle half▼ 99.2%€150,164above the sector's middle half▲ 7,795%
Equity€251,827within the sector's middle half▲ 73.2%€252,457within the sector's middle half▲ 0.3%€253,078within the sector's middle half▲ 0.2%€254,980within the sector's middle half▲ 0.8%€285,144within the sector's middle half▲ 11.8%
Total assets€1.1mwithin the sector's middle half▲ 51.7%€1.0mwithin the sector's middle half▼ 10.1%€1.1mwithin the sector's middle half▲ 6.7%€1.3mwithin the sector's middle half▲ 20.9%€1.5mabove the sector's middle half▲ 16.1%
Debt€843,713▲ 48.5%€729,884▼ 13.5%€796,418▲ 9.1%€1.0m▲ 27.9%€1.2m▲ 17.5%
Working capital€125,621within the sector's middle half▲ 154%€5,580below the sector's middle half▼ 95.6%€111,415within the sector's middle half▲ 1,897%€266,516within the sector's middle half▲ 139%€315,175within the sector's middle half▲ 18.3%
Solvency22.5%within the sector's middle half▲ 2.8pp25.0%within the sector's middle half▲ 2.6pp23.5%below the sector's middle half▼ 1.5pp19.6%below the sector's middle half▼ 3.9pp18.9%below the sector's middle half▼ 0.7pp
Current ratio1.18within the sector's middle half▲ 0.051.01below the sector's middle half▼ 0.171.21within the sector's middle half▲ 0.201.43within the sector's middle half▲ 0.221.40within the sector's middle half▼ 0.03
Return on assets (ROA)18.4%above the sector's middle half▲ 1.4pp10.0%within the sector's middle half▼ 8.4pp21.0%above the sector's middle half▲ 11.0pp0.1%below the sector's middle half▼ 20.8pp10.0%within the sector's middle half▲ 9.8pp
Staff (FTE)1below the sector's middle half▲ 25.0%0.2below the sector's middle half▼ 80.0%0.5below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 1,061% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.5m
Fixed assets
€403,700 ▼ 1.5%
Current assets
€1.1m ▲ 24.1%
Equity and liabilities €1.5m
Equity
€285,144 ▲ 11.8%
Provisions
€25,552 =
Debt
€1.2m ▲ 17.5%
Debt's share of the balance-sheet total rises from 78.4% to 79.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€301,478▲
2024 · €90,221
Cash flow
€224,622▲
2024 · €72,573
Quick ratio
1.34▲
2024 · 1.33
Debt to equity
4.20▲
2024 · 4.00
ROE
52.7%▲
2024 · 0.7%
Interest coverage
10.66▼
2024 · 13.14
Debt ≤ 1 year
€788,909▲
2024 · €622,942
Debt > 1 year
€262,530▲
2024 · €221,000
Income taxes
€53,921▲
2024 · €15,145
Staff costs
€1,227▼
2024 · €1,864
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,818 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 95% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.0%
went bankrupt
3.7%
stopped otherwise
95%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 3,818 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €26,921 | €7,913 | €1,596 | €1,864 | €1,227 | ▼ 34.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €55,756 | €60,573 | €69,373 | €70,671 | €74,458 | ▲ 5.4% |
| Other operating charges640/8 | €3,791 | €9,805 | €4,245 | €3,941 | €4,352 | ▲ 10.4% |
| Gross operating margin9900 | €335,748 | €231,718 | €375,465 | €96,026 | €307,057 | ▲ 220% |
| Operating profit (loss)9901 | €249,280 | €153,427 | €300,251 | €19,550 | €227,020 | ▲ 1,061% |
| Financial income75/76B | €6,479 | €2,260 | €1,455 | €4,365 | €5,334 | ▲ 22.2% |
| Recurring financial income75 | €6,479 | €2,260 | €1,455 | €4,365 | €5,334 | ▲ 22.2% |
| Financial charges65/66B | €3,389 | €2,285 | €11,524 | €6,868 | €28,269 | ▲ 312% |
| Recurring financial charges65 | €3,389 | €2,285 | €11,524 | €6,868 | €28,269 | ▲ 312% |
| Profit (loss) for the period before taxes9903 | €252,370 | €153,402 | €290,182 | €17,047 | €204,085 | ▲ 1,097% |
| Income taxes67/77 | €45,948 | €52,741 | €64,523 | €15,145 | €53,921 | ▲ 256% |
| Profit (loss) for the period9904 | €206,422 | €100,661 | €225,659 | €1,902 | €150,164 | ▲ 7,795% |
| Profit (loss) for the period to be appropriated9905 | €206,422 | €100,661 | €225,659 | €1,902 | €150,164 | ▲ 7,795% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.1m | €1.0m | €1.1m | €1.3m | €1.5m | ▲ 16.1% |
| Fixed assets21/28 | €293,046 | €373,236 | €439,774 | €409,770 | €403,700 | ▼ 1.5% |
| Intangible fixed assets21 | - | - | - | - | €34,530 | - |
| Tangible fixed assets22/27 | €286,846 | €370,136 | €439,774 | €409,770 | €369,170 | ▼ 9.9% |
| Plant, machinery and equipment23 | €4,326 | €3,178 | €5,427 | €4,665 | €9,085 | ▲ 94.7% |
| Furniture and vehicles24 | €59,722 | €67,674 | €76,181 | €63,603 | €67,582 | ▲ 6.3% |
| Other tangible fixed assets26 | €222,798 | €299,284 | €358,166 | €341,502 | €292,503 | ▼ 14.3% |
| Financial fixed assets28 | €6,200 | €3,100 | - | - | - | - |
| Current assets29/58 | €828,046 | €634,657 | €635,274 | €889,458 | €1.1m | ▲ 24.1% |
| Stocks and contracts in progress3 | €57,142 | €63,340 | €57,641 | €63,750 | €49,164 | ▼ 22.9% |
| Stocks30/36 | €57,142 | €63,340 | €57,641 | €63,750 | €49,164 | ▼ 22.9% |
| Amounts receivable within one year40/41 | €729,009 | €539,665 | €562,096 | €727,694 | €1.0m | ▲ 43.1% |
| Trade receivables40 | €455,479 | €352,715 | €440,092 | €478,493 | €564,743 | ▲ 18.0% |
| Other amounts receivable41 | €273,530 | €186,950 | €122,004 | €249,201 | €476,537 | ▲ 91.2% |
| Cash at bank and in hand54/58 | €33,255 | €25,230 | €10,228 | €93,403 | €6,185 | ▼ 93.4% |
| Deferred charges and accrued income490/1 | €8,640 | €6,422 | €5,309 | €4,611 | €7,455 | ▲ 61.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.1m | €1.0m | €1.1m | €1.3m | €1.5m | ▲ 16.1% |
| Equity10/15 | €251,827 | €252,457 | €253,078 | €254,980 | €285,144 | ▲ 11.8% |
| Contributions10/11 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Profit (loss) carried forward14 | €1,827 | €2,457 | €3,078 | €4,980 | €35,144 | ▲ 606% |
| Provisions and deferred taxes16 | €25,552 | €25,552 | €25,552 | €25,552 | €25,552 | = |
| Provisions for liabilities and charges160/5 | €25,552 | €25,552 | €25,552 | €25,552 | €25,552 | = |
| Pensions and similar obligations160 | €25,552 | €25,552 | €25,552 | €25,552 | €25,552 | = |
| Amounts payable17/49 | €843,713 | €729,884 | €796,418 | €1.0m | €1.2m | ▲ 17.5% |
| Amounts payable after more than one year17 | €20,292 | €5,167 | €207,250 | €221,000 | €262,530 | ▲ 18.8% |
| Financial debts170/4 | €20,292 | €5,167 | - | - | €62,030 | - |
| Other amounts payable178/9 | - | - | €207,250 | €221,000 | €200,500 | ▼ 9.3% |
| Amounts payable within one year42/48 | €702,425 | €629,077 | €523,859 | €622,942 | €788,909 | ▲ 26.6% |
| Current portion of amounts payable after more than one year42 | €16,554 | €16,569 | €6,423 | - | €18,234 | - |
| Trade debts44 | €595,871 | €585,008 | €457,436 | €615,027 | €657,904 | ▲ 7.0% |
| Suppliers440/4 | €595,871 | €585,008 | €457,436 | €615,027 | €657,904 | ▲ 7.0% |
| Taxes, remuneration and social security45 | €40,000 | €27,500 | €60,000 | €7,915 | €112,771 | ▲ 1,325% |
| Taxes450/3 | €40,000 | €27,500 | €60,000 | €7,915 | €112,771 | ▲ 1,325% |
| Other amounts payable47/48 | €50,000 | - | - | - | - | - |
| Accrued charges and deferred income492/3 | €120,996 | €95,640 | €65,309 | €174,754 | €145,649 | ▼ 16.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €206,422 | €100,661 | €225,659 | €1,902 | €150,164 | ▲ 7,795% |
| + Depreciation and write-downs630 | €55,756 | €60,573 | €69,373 | €70,671 | €74,458 | ▲ 5.4% |
| Operating cash flow (approximation) | €262,178 | €161,234 | €295,032 | €72,573 | €224,622 | ▲ 210% |
| Investment in fixed assets (approximation) | - | -€140,763 | -€135,911 | -€40,667 | -€68,388 | ▼ 68.2% |
| Change in cash | - | -€8,025 | -€15,002 | €83,175 | -€87,218 | ▼ 205% |
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
10-09
State Gazette act
Appointment: Yves tiberghien (director)Resignation: Jean tiberghien (director)5 facts ▸
State Gazette act
Appointment: Yves tiberghien (director)
Resignation: Jean tiberghien (director)5 facts ▸
- General meeting, 29-06-2026
- Director appointment, Yves tiberghien (director)
- Director resignation, Jean tiberghien (director)
- Other statement, email address, kendall@tibeflex.be
- Other statement, https://www.tibeflex.be, website
09-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 40 days late
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 60 days late
2024
31-12
Financial
Weakest financial yearnet €1,902 ▼99.2%
Net result drops to €1,902, the lowest in the series; recovery starts the following year.
15-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 46 days late
2023
31-12
Financial
Highest result since 2018net €225,659 ▲124%
Operating result €300,251, net result €225,659, both a record.
09-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 70 days late
2022
16-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 77 days late
2021
31-12
Financial
Equity above €200,000Eq €251,827 ▲73.2%
4 profitable years in a row build equity to €251,827.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
12-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 104 days late
2019
04-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 4 days late
2018
04-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 4 days late
2017
14-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 14 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
1 director, last change in 2026
Yves tiberghien
CurrentDirector · since 29-06-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
2 of this company's 3 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Gent · 1 establishment unit since 2002
Ground area
1,762 m²
Building footprint
518 m²
Volume, LiDAR
3,081 m³
Parcel 44432C1219/00G004, Flanders · tallest building 14.4 m, ±2 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
TIBEFLEX-NEW BVBA
since 20022.133.188.069
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44432C1219/00G004 | Flanders | 1,762 m² | 1 · 518 m² | 14.4 m · 2 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.
Mandate history
2 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Yves tiberghien |
|
| Jean tiberghien |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Recognitions · licences · registrations
Dual-learning approval
2 live approvals · 1 endedBinnen- en buitenschrijnwerk duaal (so)
Medewerker hout duaal (so)
Show 1 ended approval
Plaatser buitenschrijnwerk (so)
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Identification & contact
Identification
Legal formPrivate limited company
Founded27-12-2002
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
25120Manufacture of fabricated metal products, except machinery and equipment
25401Forging of metal
25530Machining of metals
25999Manufacture of fabricated metal products, except machinery and equipment
47521Retail sale of hardware, building materials, paint and glass (general range)
Contact
Website
www.tibeflex.be
E-mail
kendall@tibeflex.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0479160501
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.