TIBOR CONSTRUCT
ActiveSummary
TIBOR CONSTRUCT has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €449,750 and a net result of €115,137. Equity is growing by ~11% per year across the filed fiscal years. Its solvency ranks better than 56% of 2220 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability83▼-10
Solvency69▼-10
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity ample (current ratio 1.94 against 1.7 in 2024; short-term debt: 33.5% and cash: 28.8% of total assets), but 56.3% 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more 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
43.7%
Return on assets
11.2%
Age of the figures
9 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-06-2026, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2024
51 d early
2023
34 d early
2022
35 d early
2021
6 d early
2020
31 d early
2019
53 d early
← 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 38 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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 26 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€449,750▲ 12.9%
2024 · €398,442
Total assets
€1.0m▲ 39.3%
2024 · €738,443
Net result
€115,137▼ 19.9%
2024 · €143,669
Working capital
€322,443▲ 134%
2024 · €137,799
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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€28,978▼ 53.0%€23,660▼ 18.4%€214,647▲ 807%€221,004▲ 3.0%€179,911▼ 18.6%
Net result€14,442within the sector's middle half▼ 64.9%€11,308within the sector's middle half▼ 21.7%€141,299above the sector's middle half▲ 1,150%€143,669above the sector's middle half▲ 1.7%€115,137above the sector's middle half▼ 19.9%
Equity€226,592within the sector's middle half▲ 2.0%€205,900within the sector's middle half▼ 9.1%€305,094within the sector's middle half▲ 48.2%€398,442within the sector's middle half▲ 30.6%€449,750within the sector's middle half▲ 12.9%
Total assets€517,231within the sector's middle half▲ 0.9%€461,109within the sector's middle half▼ 10.9%€638,613within the sector's middle half▲ 38.5%€738,443within the sector's middle half▲ 15.6%€1.0mwithin the sector's middle half▲ 39.3%
Debt€290,639▲ 0.1%€255,208▼ 12.2%€333,518▲ 30.7%€340,001▲ 1.9%€578,869▲ 70.3%
Working capital-€9,266below the sector's middle half-€47,847below the sector's middle half▼ 416%€106,012within the sector's middle half€137,799within the sector's middle half▲ 30.0%€322,443within the sector's middle half▲ 134%
Solvency43.8%within the sector's middle half▲ 0.5pp44.7%within the sector's middle half▲ 0.8pp47.8%within the sector's middle half▲ 3.1pp54.0%within the sector's middle half▲ 6.2pp43.7%within the sector's middle half▼ 10.2pp
Current ratio0.94below the sector's middle half▼ 0.160.71below the sector's middle half▼ 0.231.57within the sector's middle half▲ 0.861.70within the sector's middle half▲ 0.141.94within the sector's middle half▲ 0.24
Return on assets (ROA)2.8%within the sector's middle half▼ 5.2pp2.5%within the sector's middle half▼ 0.3pp22.1%above the sector's middle half▲ 19.7pp19.5%above the sector's middle half▼ 2.7pp11.2%within the sector's middle half▼ 8.3pp
Staff (FTE)0below the sector's middle half0.6below the sector's middle half0.3below the sector's middle half▼ 50.0%
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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 falls in 2025; 2025 is 19% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€362,007 ▼ 10.4%
Current assets
€666,612 ▲ 99.4%
Equity and liabilities €1.0m
Equity
€449,750 ▲ 12.9%
Debt
€578,869 ▲ 70.3%
Debt's share of the balance-sheet total rises from 46.0% to 56.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€231,317▼
2024 · €272,293
Cash flow
€166,543▼
2024 · €194,958
Quick ratio
1.00▲
2024 · 0.76
Debt to equity
1.29▲
2024 · 0.85
ROE
25.6%▼
2024 · 36.1%
Interest coverage
15.63▼
2024 · 17.83
Debt ≤ 1 year
€344,170▲
2024 · €196,570
Debt > 1 year
€231,777▲
2024 · €139,628
Income taxes
€52,505▼
2024 · €65,435
Staff costs
€16,100▼
2024 · €29,577
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,696 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.7%
went bankrupt
3.9%
stopped otherwise
95%
still going
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 497,338 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% | 1.9% |
| 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 34,696 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €0 | €23,008 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | - | - | €29,577 | €16,100 | ▼ 45.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €32,792 | €33,700 | €30,551 | €51,289 | €51,406 | ▲ 0.2% |
| Other operating charges640/8 | €5,049 | €6,062 | €8,447 | €7,898 | €6,098 | ▼ 22.8% |
| Non-recurring operating charges66A | - | - | €945 | €1,184 | €0 | ▼ 100% |
| Gross operating margin9900 | €66,820 | €63,422 | €254,590 | €310,953 | €253,515 | ▼ 18.5% |
| Operating profit (loss)9901 | €28,978 | €23,660 | €214,647 | €221,004 | €179,911 | ▼ 18.6% |
| Financial income75/76B | €2,335 | €1,921 | €2,560 | €3,372 | €2,533 | ▼ 24.9% |
| Recurring financial income75 | €2,335 | €1,921 | €2,560 | €3,372 | €2,533 | ▼ 24.9% |
| Financial charges65/66B | €8,883 | €7,102 | €10,794 | €15,272 | €14,802 | ▼ 3.1% |
| Recurring financial charges65 | €8,883 | €7,102 | €10,544 | €15,272 | €14,802 | ▼ 3.1% |
| Non-recurring financial charges66B | - | - | €250 | €0 | - | - |
| Profit (loss) for the period before taxes9903 | €22,430 | €18,479 | €206,412 | €209,103 | €167,643 | ▼ 19.8% |
| Income taxes67/77 | €7,988 | €7,170 | €65,113 | €65,435 | €52,505 | ▼ 19.8% |
| Profit (loss) for the period9904 | €14,442 | €11,308 | €141,299 | €143,669 | €115,137 | ▼ 19.9% |
| Profit (loss) for the period to be appropriated9905 | €14,442 | €11,308 | €141,299 | €143,669 | €115,137 | ▼ 19.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €517,231 | €461,109 | €638,613 | €738,443 | €1.0m | ▲ 39.3% |
| Fixed assets21/28 | €372,603 | €346,184 | €345,251 | €404,073 | €362,007 | ▼ 10.4% |
| Tangible fixed assets22/27 | €372,603 | €346,184 | €345,251 | €404,073 | €362,007 | ▼ 10.4% |
| Land and buildings22 | €299,649 | €291,555 | €282,750 | €273,136 | €266,768 | ▼ 2.3% |
| Plant, machinery and equipment23 | €4,249 | €2,165 | €2,407 | €8,258 | €11,739 | ▲ 42.1% |
| Furniture and vehicles24 | €68,705 | €52,464 | €60,093 | €122,679 | €83,500 | ▼ 31.9% |
| Current assets29/58 | €144,627 | €114,924 | €293,362 | €334,369 | €666,612 | ▲ 99.4% |
| Stocks and contracts in progress3 | - | - | €138,746 | €185,121 | €323,652 | ▲ 74.8% |
| Stocks30/36 | - | - | €138,746 | €185,121 | €323,652 | ▲ 74.8% |
| Amounts receivable within one year40/41 | €14,531 | €110,424 | €138,592 | €100,681 | €41,900 | ▼ 58.4% |
| Trade receivables40 | €7,540 | €105,126 | €93,305 | €100,515 | €41,898 | ▼ 58.3% |
| Other amounts receivable41 | €6,991 | €5,298 | €45,288 | €167 | €3 | ▼ 98.3% |
| Cash at bank and in hand54/58 | €127,203 | €1,367 | €12,493 | €43,393 | €296,313 | ▲ 583% |
| Deferred charges and accrued income490/1 | €2,893 | €3,134 | €3,531 | €5,174 | €4,747 | ▼ 8.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €517,231 | €461,109 | €638,613 | €738,443 | €1.0m | ▲ 39.3% |
| Equity10/15 | €226,592 | €205,900 | €305,094 | €398,442 | €449,750 | ▲ 12.9% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €220,392 | €199,700 | €298,894 | €392,242 | €443,550 | ▲ 13.1% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | €218,532 | €197,840 | €298,894 | €392,242 | €443,550 | ▲ 13.1% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €290,639 | €255,208 | €333,518 | €340,001 | €578,869 | ▲ 70.3% |
| Amounts payable after more than one year17 | €136,745 | €91,900 | €146,168 | €139,628 | €231,777 | ▲ 66.0% |
| Financial debts170/4 | €136,745 | €91,900 | €146,168 | €139,628 | €231,777 | ▲ 66.0% |
| Amounts payable within one year42/48 | €153,894 | €162,771 | €187,350 | €196,570 | €344,170 | ▲ 75.1% |
| Current portion of amounts payable after more than one year42 | €47,528 | €44,845 | €54,384 | €64,082 | €66,931 | ▲ 4.4% |
| Financial debts43 | €50,000 | €50,000 | €25,000 | €0 | €70,000 | - |
| Credit institutions430/8 | €50,000 | €50,000 | €25,000 | €0 | €70,000 | - |
| Trade debts44 | €32,154 | €39,142 | €11,192 | €28,129 | €31,408 | ▲ 11.7% |
| Suppliers440/4 | €32,154 | €39,142 | €11,192 | €28,129 | €31,408 | ▲ 11.7% |
| Advances received on contracts in progress46 | - | €13,916 | €27,500 | €0 | €9,889 | - |
| Taxes, remuneration and social security45 | €24,212 | €0 | €25,884 | €52,921 | €134,825 | ▲ 155% |
| Taxes450/3 | €24,212 | €0 | €25,884 | €51,638 | €134,825 | ▲ 161% |
| Remuneration and social security454/9 | - | - | - | €1,283 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €14,868 | €43,391 | €51,438 | €31,117 | ▼ 39.5% |
| Accrued charges and deferred income492/3 | - | €537 | €0 | €3,803 | €2,922 | ▼ 23.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,442 | €11,308 | €141,299 | €143,669 | €115,137 | ▼ 19.9% |
| + Depreciation and write-downs630 | €32,792 | €33,700 | €30,551 | €51,289 | €51,406 | ▲ 0.2% |
| Operating cash flow (approximation) | €47,234 | €45,008 | €171,850 | €194,958 | €166,543 | ▼ 14.6% |
| Investment in fixed assets (approximation) | - | -€7,281 | -€29,617 | -€110,112 | -€9,340 | ▲ 91.5% |
| Change in cash | - | -€125,836 | €11,126 | €30,900 | €252,919 | ▲ 718% |
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
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
10-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €143,669 ▲1.7%
Operating result €221,004, net result €143,669, both a record.
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Liquidity doublescurrent ratio 1.57
Current ratio from 0.71 to 1.57.
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
08-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet €8,205 ▼57.6%
Net result drops to €8,205, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity quadruplescurrent ratio 2.14
Current ratio from 0.52 to 2.14; short-term debt falls from €180,249 to €80,291.
12-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
12-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
06-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Genk · 1 establishment unit since 2009
Ground area
1,348 m²
Parcel 71305F1401/00C000, Flanders. Linked by address, not a title deed.
1 establishment unit
Meeënweg 100 b, 3600 Genk
since 20092.175.196.393
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71305F1401/00C000 | Flanders | 1,348 m² | - | - |
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.
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Of 29,785 companies in sector 41001 we hold annual accounts for 16,058. 9,657 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
Founded21-11-2008
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0808048008
Also
9925:BE0808048008
Registered
25-01-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.