TIBFIN
ActiveSummary
TIBFIN has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.0m and a net result of €33,801. Equity remains stable across the filed fiscal years (±0.2% per year). Its solvency ranks better than 51% of 9336 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability39▼-1
Solvency57▼-42
Growth32=
Track record94
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €95,000 at 30 days acceptable
Liquidity tight (current ratio 1.33 against 3.8 in 2024; short-term debt: 67.8% and cash: 0% of total assets), and 67.8% 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 · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
32.2%
Return on assets
0.5%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-09-2026, 39 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 · 5 filingsDeviation from the deadline
2025
39 d late
2024
60 d late
2023
28 d late
2022
42 d late
2021
43 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 42 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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 11 September (5 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, abbreviated schema
Equity
€2.0m▲ 1.7%
2024 · €2.0m
Total assets
€6.3m▲ 133%
2024 · €2.7m
Net result
€33,801▲ 12.9%
2024 · €29,948
Working capital
€1.4m▼ 28.4%
2024 · €2.0m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, 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
Operating result-€8,615--€12,600▼ 46.3%-€8,862▲ 29.7%-€11,239▼ 26.8%-€7,058▲ 37.2%
Net result€48,785within the sector's middle half-€27,092within the sector's middle half▼ 44.5%€34,030within the sector's middle half▲ 25.6%€29,948within the sector's middle half▼ 12.0%€33,801within the sector's middle half▲ 12.9%
Equity€2.0mabove the sector's middle half-€2.0mabove the sector's middle half▲ 0.1%€2.0mabove the sector's middle half▼ 3.8%€2.0mabove the sector's middle half▲ 1.5%€2.0mabove the sector's middle half▲ 1.7%
Total assets€2.1mwithin the sector's middle half-€2.4mwithin the sector's middle half▲ 15.5%€2.5mwithin the sector's middle half▲ 4.9%€2.7mwithin the sector's middle half▲ 8.5%€6.3mabove the sector's middle half▲ 133%
Debt€17,500-€335,286▲ 1,816%€529,780▲ 58.0%€711,750▲ 34.3%€4.3m▲ 501%
Working capital€2.0mabove the sector's middle half-€2.0mabove the sector's middle half▲ 0.1%€2.0mabove the sector's middle half▼ 3.8%€2.0mabove the sector's middle half▲ 1.5%€1.4mabove the sector's middle half▼ 28.4%
Solvency99.2%above the sector's middle half-85.9%above the sector's middle half▼ 13.2pp78.8%above the sector's middle half▼ 7.1pp73.7%above the sector's middle half▼ 5.1pp32.2%within the sector's middle half▼ 41.5pp
Current ratio7.10above the sector's middle half4.71above the sector's middle half▼ 2.393.80above the sector's middle half▼ 0.911.33within the sector's middle half▼ 2.47
Return on assets (ROA)2.4%within the sector's middle half-1.1%within the sector's middle half▼ 1.2pp1.4%within the sector's middle half▲ 0.2pp1.1%within the sector's middle half▼ 0.3pp0.5%within the sector's middle half▼ 0.6pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate 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 stays negative: a loss of €7,058 in 2025 against €11,239 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.3m
Fixed assets
€600,000
Current assets
€5.7m
Equity and liabilities €6.3m
Equity
€2.0m ▲ 1.7%
Debt
€4.3m ▲ 501%
Debt's share of the balance-sheet total rises from 26.3% to 67.8%. Equity and debt are higher.
Key figures and ratios
Debt to equity
2.11▲
2024 · 0.36
ROE
1.7%▲
2024 · 1.5%
Debt ≤ 1 year
€4.3m▲
2024 · €711,750
Income taxes
€13,197▲
2024 · €11,902
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 174 companies that looked in July 2024 the way this one looks now, 0% went bankrupt within 24 months and 95% are still going.
- Medium-sized
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0%
went bankrupt
4.6%
stopped otherwise
95%
still going
For this company itself Checked computes a higher bankruptcy probability: 0.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 174 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 |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €347 | €548 | €1,092 | €1,108 | €1,142 | ▲ 3.1% |
| Gross operating margin9900 | -€8,268 | -€12,052 | -€7,770 | -€10,131 | -€5,916 | ▲ 41.6% |
| Operating profit (loss)9901 | -€8,615 | -€12,600 | -€8,862 | -€11,239 | -€7,058 | ▲ 37.2% |
| Financial income75/76B | €75,042 | €54,685 | €67,079 | €70,931 | €79,960 | ▲ 12.7% |
| Recurring financial income75 | €75,042 | €54,685 | €67,079 | €70,931 | €79,960 | ▲ 12.7% |
| Financial charges65/66B | €142 | €4,553 | €13,617 | €17,842 | €25,904 | ▲ 45.2% |
| Recurring financial charges65 | €142 | €4,553 | €13,617 | €17,842 | €25,904 | ▲ 45.2% |
| Profit (loss) for the period before taxes9903 | €66,285 | €37,532 | €44,600 | €41,850 | €46,998 | ▲ 12.3% |
| Income taxes67/77 | €17,500 | €10,440 | €10,570 | €11,902 | €13,197 | ▲ 10.9% |
| Profit (loss) for the period9904 | €48,785 | €27,092 | €34,030 | €29,948 | €33,801 | ▲ 12.9% |
| Profit (loss) for the period to be appropriated9905 | €48,785 | €27,092 | €34,030 | €29,948 | €33,801 | ▲ 12.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.1m | €2.4m | €2.5m | €2.7m | €6.3m | ▲ 133% |
| Fixed assets21/28 | - | - | - | - | €600,000 | - |
| Financial fixed assets28 | - | - | - | - | €600,000 | - |
| Current assets29/58 | €2.1m | €2.4m | €2.5m | €2.7m | €5.7m | ▲ 111% |
| Amounts receivable within one year40/41 | €2.1m | €2.4m | €2.5m | €2.7m | €5.7m | ▲ 111% |
| Trade receivables40 | - | - | - | - | €6,534 | - |
| Other amounts receivable41 | €2.1m | €2.4m | €2.5m | €2.7m | €5.7m | ▲ 110% |
| Cash at bank and in hand54/58 | €548 | €943 | €374 | €182 | €863 | ▲ 374% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.1m | €2.4m | €2.5m | €2.7m | €6.3m | ▲ 133% |
| Equity10/15 | €2.0m | €2.0m | €2.0m | €2.0m | €2.0m | ▲ 1.7% |
| Contributions10/11 | €26,000 | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Reserves13 | €2,600 | - | - | - | - | - |
| Non-distributable reserves130/1 | €2,600 | - | - | - | - | - |
| Reserves not available under the articles1311 | €2,600 | - | - | - | - | - |
| Profit (loss) carried forward14 | €2.0m | €794,677 | €716,207 | €746,155 | €779,956 | ▲ 4.5% |
| Amounts payable17/49 | €17,500 | €335,286 | €529,780 | €711,750 | €4.3m | ▲ 501% |
| Amounts payable within one year42/48 | €17,500 | €335,286 | €529,780 | €711,750 | €4.3m | ▲ 501% |
| Trade debts44 | - | €20,036 | €11,030 | €10,750 | €11,461 | ▲ 6.6% |
| Suppliers440/4 | - | €20,036 | €11,030 | €10,750 | €11,461 | ▲ 6.6% |
| Taxes, remuneration and social security45 | €17,500 | €10,250 | €10,750 | - | €12,980 | - |
| Taxes450/3 | €17,500 | €10,250 | €10,750 | - | €12,980 | - |
| Other amounts payable47/48 | - | €305,000 | €508,000 | €701,000 | €4.3m | ▲ 506% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €48,785 | €27,092 | €34,030 | €29,948 | €33,801 | ▲ 12.9% |
| Operating cash flow (approximation) | €48,785 | €27,092 | €34,030 | €29,948 | €33,801 | ▲ 12.9% |
| Change in cash | - | €395 | -€569 | -€192 | €681 | ▲ 455% |
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
08-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 39 days late
31-08
State Gazette act
Capital & shares · Resignations & appointments · RestructuringReappointment: Yves tiberghien (statutory director) · Appointment: Kendall Yves tiberghien (director) · Resignation: Yves tiberghien (director)19 facts ▸
State Gazette act
Capital & shares · Resignations & appointments · Restructuring
Reappointment: Yves tiberghien (statutory director) · Appointment: Kendall Yves tiberghien (director) · Resignation: Yves tiberghien (director)19 facts ▸
- Auditor report, 23-06-2026
- Other statement, 23-06-2026
- Demerger, partiele splitsing, EUR
- Share issue, A, 37508
- Share issue, B, 148
- Share issue, C, 148
- Capital contribution
- Capital contribution
- Reserve release, 200000.0, increase available non capital contribution
- Reserve release, 50000.0, increase unavailable non capital contribution
- Director reappointment, Yves tiberghien (statutory director)
- Director appointment, Kendall Yves tiberghien (director)
- +7 further facts in this act
2025
31-12
Financial
Equity above €2mEq €2.0m ▲1.7%
5 profitable years in a row build equity to €2.0m.
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 60 days late
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 28 days late
2023
11-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 42 days late
2022
31-12
Financial
Weakest financial yearnet €27,092 ▼44.5%
Net result drops to €27,092, the lowest in the series; recovery starts the following year.
12-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 43 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 5 acts read
About the unread acts
Of the 5 Belgian State Gazette acts we know for this company, 1 has been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, last change in 2026
Kendall Yves tiberghien
CurrentDirector · since 31-08-2026
Yves tiberghien
CurrentStatutory director
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
4 of this company's 5 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 2021
Ground area
1,157 m²
Building footprint
179 m²
Volume, LiDAR
1,458 m³
Parcel 44805E1011/00G000, Flanders · tallest building 17.6 m, ±2 floors. Linked by address, not a title deed.
9
companies at this address
See who is registered here
1 establishment unit
IMMO RES DEVELOPMENT
since 20212.317.881.613
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44805E1011/00G000 | Flanders | 1,157 m² | 1 · 179 m² | 17.6 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, 2 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Kendall Yves tiberghien |
|
| Yves tiberghien |
|
Articles of association
Statutes amendment
Structure & network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Acquisitions and mergers
1 transactionSplit off to:TIBYCO Consulting & Services
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Of 9,699 companies in sector 68121 we hold annual accounts for 7,393. 2,972 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
Founded03-02-2021
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
68201Renting and operating of own or leased residential real estate, excluding social housing
68204Real estate activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0762875997
Registered
27-03-2026
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.