TIBIMMO
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 25-01-2026 PDF all 35 filings
Turnover
≈ €470,000
Estimated: probably between €300,000 and €1.1m
Total assets
€7.2m▲ 3.8%
2024 · €7.0m
Net result
-€3,637▲ 81.9%
2024 · -€20,065
Working capital
-€198,685
2024 · €340,462
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€37,359
▲ 125%
2025
20192025
Net result
-€3,637
▲ 81.9%
2025
middle half of the sector
20192025
Equity
€4.7m
▼ 0.1%
2025
highest quarter of the sector
20192025
Total assets
€7.2m
▲ 3.8%
2025
highest quarter of the sector
20192025
Debt
€2.5m
▲ 11.7%
2025
20192025
Working capital
-€198,685
2025
lowest quarter of the sector
20192025
Solvency
65.0%
▼ 2.5pp
2025
highest quarter of the sector
20192025
Current ratio
0.90
▼ 0.30
2025
middle half of the sector
20192025
Return on assets (ROA)
-0.1%
▲ 0.2pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€0.06m-€0.04m-€0.2m€0.4m€0.03m▼ 91.9%€0.02m▼ 45.6%€0.04m▲ 125%
Net result€0.006m-€0.02mwithin the sector's middle half▲ 211%-€0.3mbelow the sector's middle half€0.3mabove the sector's middle half€0.007mwithin the sector's middle half▼ 97.6%-€0.02mwithin the sector's middle half-€0.004mwithin the sector's middle half▲ 81.9%
Equity€1.1m-€1.1mwithin the sector's middle half▲ 1.8%€0.8mwithin the sector's middle half▼ 23.4%€4.7mabove the sector's middle half▲ 457%€4.7mabove the sector's middle half▲ 0.1%€4.7mabove the sector's middle half▼ 0.4%€4.7mabove the sector's middle half▼ 0.1%
Total assets€6.3m-€4.8mabove the sector's middle half▼ 23.5%€6.8mabove the sector's middle half▲ 41.8%€6.9mabove the sector's middle half▲ 1.0%€6.8mabove the sector's middle half▼ 1.3%€7.0mabove the sector's middle half▲ 2.8%€7.2mabove the sector's middle half▲ 3.8%
Debt€5.2m-€3.7m▼ 28.8%€6.0m▲ 61.3%€2.2m▼ 63.9%€2.1m▼ 4.5%€2.3m▲ 10.1%€2.5m▲ 11.7%
Working capital€2.5m--€0.3mbelow the sector's middle half€0.1mwithin the sector's middle half€0.6mabove the sector's middle half▲ 352%€0.4mwithin the sector's middle half▼ 26.2%€0.3mwithin the sector's middle half▼ 22.0%-€0.2mbelow the sector's middle half
Solvency17.3%-23.0%within the sector's middle half▲ 5.7pp12.4%within the sector's middle half▼ 10.6pp68.7%above the sector's middle half▲ 56.2pp69.7%above the sector's middle half▲ 1.0pp67.5%above the sector's middle half▼ 2.2pp65.0%above the sector's middle half▼ 2.5pp
Current ratio2.55-0.64within the sector's middle half▼ 1.911.10within the sector's middle half▲ 0.461.46within the sector's middle half▲ 0.361.33within the sector's middle half▼ 0.131.21within the sector's middle half▼ 0.120.90within the sector's middle half▼ 0.30
Return on assets (ROA)0.1%-0.4%within the sector's middle half▲ 0.3pp-3.8%below the sector's middle half▼ 4.2pp4.0%within the sector's middle half▲ 7.8pp0.1%within the sector's middle half▼ 3.9pp-0.3%within the sector's middle half▼ 0.4pp-0.1%within the sector's middle half▲ 0.2pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 125% higher than in 2024 and the highest since 2022. It is a recovery after the fall in 2024.
Large changes and their cause
- 2022 Equity +457% on 2021. Capital increase of €2,500,000 (Official Gazette 19-05-2022). Capital increase of €1,600,000 (Official Gazette 13-05-2022).
Turnover and EBIT margin are not published. The abbreviated 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 €7.2m
Fixed assets
€5.4m ▲ 8.5%
Current assets
€1.8m ▼ 8.0%
Equity and liabilities €7.2m
Equity
€4.7m ▼ 0.1%
Debt
€2.5m ▲ 11.7%
Debt's share of the balance-sheet total rises from 32.5% to 35.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€220,738▲
2024 · €218,987
Cash flow
€179,742▼
2024 · €182,331
Debt to equity
0.54▲
2024 · 0.48
ROE
-0.1%▲
2024 · -0.4%
Interest coverage
2.49▼
2024 · 2.62
Debt ≤ 1 year
€2.0m▲
2024 · €1.6m
Debt > 1 year
€489,279▼
2024 · €605,931
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €1.7m | €1.6m | - | - |
| Mortgages, amount registered | €100,000 | €100,000 | - | €100,000 |
| Mortgage mandates | - | €1.5m | - | €1.5m |
| Carrying value of the mortgaged assets | €3.6m | €3.5m | - | €3.3m |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €62,631 | €212,839 | €171,204 | €5,043 |
| Financial fixed assets | - | - | - | €600,000 |
| Depreciation and write-downs of the year | €179,442 | €184,767 | €202,396 | €183,379 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €2,420 awarded · €2,420 paidAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €117,731 | €120,074 | €189,574 | €179,442 | €184,767 | €202,396 | €183,379 | ▼ 9.4% |
| Other operating charges640/8 | - | - | - | €26,537 | €20,229 | €25,008 | €1,412 | ▼ 94.4% |
| Gross operating margin9900 | €196,489 | €175,222 | €198,599 | €581,993 | €235,505 | €243,995 | €222,150 | ▼ 9.0% |
| Operating profit (loss)9901 | -€62,537 | €43,258 | -€161,467 | €376,014 | €30,509 | €16,591 | €37,359 | ▲ 125% |
| Financial income75/76B | - | - | - | €33,156 | €37,168 | €46,972 | €47,606 | ▲ 1.3% |
| Recurring financial income75 | €285,038 | €63,631 | €28,670 | €33,156 | €37,168 | €46,972 | €47,606 | ▲ 1.3% |
| Financial charges65/66B | - | - | - | €137,454 | €61,029 | €83,628 | €88,602 | ▲ 5.9% |
| Recurring financial charges65 | €201,442 | €81,468 | €126,205 | €137,454 | €61,029 | €83,628 | €88,602 | ▲ 5.9% |
| Profit (loss) for the period before taxes9903 | €21,059 | €25,421 | -€259,002 | €271,716 | €6,648 | -€20,065 | -€3,637 | ▲ 81.9% |
| Income taxes67/77 | €14,936 | €6,367 | - | - | - | - | - | - |
| Profit (loss) for the period9904 | €6,123 | €19,054 | -€259,002 | €271,716 | €6,648 | -€20,065 | -€3,637 | ▲ 81.9% |
| Profit (loss) for the period to be appropriated9905 | €6,123 | €19,054 | -€259,002 | €271,716 | €6,648 | -€20,065 | -€3,637 | ▲ 81.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €6.3m | €4.8m | €6.8m | €6.9m | €6.8m | €7.0m | €7.2m | ▲ 3.8% |
| Fixed assets21/28 | €2.2m | €4.3m | €5.3m | €5.0m | €5.0m | €5.0m | €5.4m | ▲ 8.5% |
| Tangible fixed assets22/27 | €2.2m | €4.3m | €5.3m | €5.0m | €5.0m | €5.0m | €4.8m | ▼ 3.6% |
| Land and buildings22 | - | - | - | €3.6m | €3.5m | €3.4m | €3.3m | ▼ 3.9% |
| Furniture and vehicles24 | - | - | - | €0.004m | €0.002m | €0.001m | €494 | ▼ 56.3% |
| Other tangible fixed assets26 | - | - | - | €1.4m | €1.5m | €1.6m | €1.5m | ▼ 2.8% |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.6m | ▲ 711× |
| Current assets29/58 | €4.1m | €0.5m | €1.5m | €1.9m | €1.8m | €2.0m | €1.8m | ▼ 8.0% |
| Stocks and contracts in progress3 | €3.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | - | - |
| Stocks30/36 | - | - | - | €0.2m | €0.2m | €0.2m | - | - |
| Amounts receivable within one year40/41 | €0.9m | €0.3m | €0.03m | €1.6m | €1.6m | €1.8m | €1.8m | ▼ 0.8% |
| Trade receivables40 | - | - | - | €0.02m | €0.03m | €0.01m | €0.02m | ▲ 53.3% |
| Other amounts receivable41 | - | - | - | €1.6m | €1.5m | €1.8m | €1.7m | ▼ 1.2% |
| Cash at bank and in hand54/58 | €0.01m | €0.005m | €0.2m | €0.06m | €0.03m | €0.02m | €0.03m | ▲ 17.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.009m | €0.03m | €0.04m | ▲ 39.6% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €6.3m | €4.8m | €6.8m | €6.9m | €6.8m | €7.0m | €7.2m | ▲ 3.8% |
| Equity10/15 | €1.1m | €1.1m | €0.8m | €4.7m | €4.7m | €4.7m | €4.7m | ▼ 0.1% |
| Contributions10/11 | €0.9m | €0.9m | - | €4.5m | €4.5m | €4.5m | €4.5m | = |
| Reserves13 | €0.02m | €0.02m | €0.02m | - | - | - | - | - |
| Profit (loss) carried forward14 | €0.2m | €0.2m | -€0.08m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 1.8% |
| Amounts payable17/49 | €5.2m | €3.7m | €6.0m | €2.2m | €2.1m | €2.3m | €2.5m | ▲ 11.7% |
| Amounts payable after more than one year17 | €3.5m | €2.8m | €4.6m | €0.9m | €0.7m | €0.6m | €0.5m | ▼ 19.3% |
| Financial debts170/4 | - | - | - | €0.9m | €0.7m | €0.6m | €0.5m | ▼ 19.3% |
| Amounts payable within one year42/48 | €1.6m | €0.8m | €1.4m | €1.3m | €1.3m | €1.6m | €2.0m | ▲ 23.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.2m | €0.1m | €0.1m | €0.1m | ▼ 1.7% |
| Financial debts43 | - | - | - | €0.8m | €0.8m | €1.0m | €1.0m | = |
| Credit institutions430/8 | - | - | - | €0.8m | €0.8m | €1.0m | €1.0m | = |
| Trade debts44 | €0.2m | €0.1m | €0.02m | €0.02m | €0.02m | €0.05m | €0.03m | ▼ 50.7% |
| Suppliers440/4 | - | - | - | €0.02m | €0.02m | €0.05m | €0.03m | ▼ 50.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.004m | - | €0.007m | €0.005m | ▼ 31.3% |
| Taxes450/3 | - | - | - | €0.004m | - | €0.007m | €0.005m | ▼ 31.3% |
| Other amounts payable47/48 | - | - | - | €0.3m | €0.4m | €0.5m | €0.9m | ▲ 87.6% |
| Accrued charges and deferred income492/3 | - | - | - | €0.002m | €0.004m | €0.01m | €0.01m | ▲ 23.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.006m | €0.02m | -€0.3m | €0.3m | €0.007m | -€0.02m | -€0.004m | ▲ 81.9% |
| + Depreciation and write-downs630 | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 9.4% |
| Operating cash flow (approximation) | €0.1m | €0.1m | -€0.07m | €0.5m | €0.2m | €0.2m | €0.2m | ▼ 1.4% |
| Investment in fixed assets (approximation) | - | -€2.2m | -€1.2m | €0.2m | -€0.2m | -€0.2m | -€0.6m | ▼ 253% |
| Change in cash | - | -€0.006m | €0.2m | -€0.1m | -€0.03m | -€0.008m | €0.004m | - |
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, 830 companies had the same profile as TIBIMMO has now. Two years later, 96.5% were still going and 0.6% had gone bankrupt.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a small loss
96.5%
was still going
2.9%
stopped otherwise
0.6%
went bankrupt
That fits the bankruptcy probability of TIBIMMO 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 830 companies, not a prediction for TIBIMMO. 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.
Latest 10 of 35 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 25-01-2026 | 2026-00012963 | |
| 30-06-2024 | abbreviated format | 06-01-2025 | 2025-00630271 | |
| 30-06-2023 | abbreviated format | 15-01-2024 | 2024-00001324 | |
| 30-06-2022 | abbreviated format | 27-01-2023 | 2023-00006179 | |
| 30-06-2021 | abbreviated format | 01-02-2022 | 2022-03600278 | |
| 30-06-2020 | abbreviated format | 31-01-2021 | 2021-03200128 | |
| 30-06-2019 | abbreviated format | 17-09-2020 | 2020-53700394 | |
| 30-06-2018 | abbreviated format | 17-09-2020 | 2020-53700393 | |
| 30-06-2017 | abbreviated format | 31-12-2017 | 2017-73600247 | |
| 30-06-2016 | abbreviated format | 25-01-2017 | 2017-02200355 |