TIBORED
ActiveThe file of TIBORED contains 1 historical bankruptcy publication, as published in the Belgian State Gazette.
Summary
The computed 12-month bankruptcy probability is 0.2% (very low). The 2025 annual accounts show equity of €362k and a net result of €18k. Equity is growing by ~10.4% per year across the filed fiscal years. Its solvency ranks better than 52% of 31791 sector peers (fiscal year 2025).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▲+56
Solvency83▼-10
Growth52=
Track record85
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days only on tighter terms
Liquidity ample (current ratio 1.85 against 2.63 in 2024; short-term debt: 33.3% and cash: 1.3% of total assets), and 42.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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
57.8%
Return on assets
2.8%
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 21-09-2026, 52 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
52 d late
2024
on the day
2023
61 d late
2022
67 d late
2021
305 d late
2020
408 d late
2019
493 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€362k▼ 30.3%
2024 · €520k
2018: €193klowest in 8 years
2019: €285k▲ +47.5% vs 2018
2020: €460k▲ +61.7% vs 2019
2021: €461k▲ +0.1% vs 2020
2022: €419k▼ -9.1% vs 2021
2023: €626k▲ +49.5% vs 2022highest in 8 years
2024: €520k▼ -16.9% vs 2023
2025: €362k▼ -30.3% vs 2024
2018 → 2025
Total assets
€627k▼ 18.5%
2024 · €770k
2018: €555klowest in 8 years
2019: €706k▲ +27.1% vs 2018
2020: €959k▲ +35.8% vs 2019
2021: €1.17M▲ +22.5% vs 2020
2022: €1.34M▲ +14.2% vs 2021highest in 8 years
2023: €1.26M▼ -6.1% vs 2022
2024: €770k▼ -38.9% vs 2023
2025: €627k▼ -18.5% vs 2024
2018 → 2025
Net result
€18k
2024 · €-14k
2018: €29k
2019: €92k▲ +216% vs 2018
2020: €176k▲ +91.6% vs 2019
2021: €366k▲ +108% vs 2020highest in 8 years
2022: €11k▼ -96.9% vs 2021
2023: €236k▲ +1989% vs 2022
2024: €-14k▼ -106% vs 2023lowest in 8 years
2025: €18k▲ +222% vs 2024
2018 → 2025
Working capital
€177k▼ 44.4%
2024 · €317k
2018: €50klowest in 8 years
2019: €135k▲ +172% vs 2018
2020: €295k▲ +119% vs 2019
2021: €261k▼ -11.6% vs 2020
2022: €229k▼ -12.1% vs 2021
2023: €423k▲ +84.3% vs 2022highest in 8 years
2024: €317k▼ -25.0% vs 2023
2025: €177k▼ -44.4% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€461k-€419k▼ 9.1%€626k▲ 49.5%€520k▼ 16.9%€362k▼ 30.3%
2021: €461k
2022: €419k▼ -9.1% vs 2021
2023: €626k▲ +49.5% vs 2022highest in 5 years
2024: €520k▼ -16.9% vs 2023
2025: €362k▼ -30.3% vs 2024lowest in 5 years
Operating result€371k-€212k▼ 42.8%€410k▲ 93.4%€-28k€23k
2021: €371k
2022: €212k▼ -42.8% vs 2021
2023: €410k▲ +93.4% vs 2022highest in 5 years
2024: €-28k▼ -107% vs 2023lowest in 5 years
2025: €23k▲ +182% vs 2024
Net result€366k-€11k▼ 96.9%€236k▲ 1,989%€-14k€18k
2021: €366khighest in 5 years
2022: €11k▼ -96.9% vs 2021
2023: €236k▲ +1989% vs 2022
2024: €-14k▼ -106% vs 2023lowest in 5 years
2025: €18k▲ +222% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €23k after a loss of €28k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €627k
Fixed assets
€242k ▼ 6.0%
Current assets
€385k ▼ 24.8%
Equity and liabilities €627k
Equity
€362k ▼ 30.3%
Debt
€265k ▲ 6.1%
Debt's share of the balance-sheet total rises from 32.4% to 42.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€40k▲
2024 · €-7k
Cash flow
€34k▲
2024 · €6k
Current ratio
1.85▼
2024 · 2.63
Debt to equity
0.73▲
2024 · 0.48
ROE
4.9%▲
2024 · -2.8%
ROA
2.8%▲
2024 · -1.9%
Interest coverage
17.11▲
2024 · -2.77
Debt ≤ 1 year
€209k▲
2024 · €195k
Debt > 1 year
€44k▼
2024 · €54k
Income taxes
€3k▲
2024 · €-17k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 53 lines
Balance sheet
Code20242025
Assets
Total assets20/58€770k€627k▼
Fixed assets21/28€257k€242k▼
Tangible fixed assets22/27€252k€237k▼
Land and buildings22€250k€235k▼
Plant, machinery and equipment23€2k€2k▼
Furniture and vehicles24€473-
Financial fixed assets28€5k€5k=
Current assets29/58€512k€385k▼
Amounts receivable within one year40/41€336k€317k▼
Trade receivables40€46k€17k▼
Other amounts receivable41€290k€300k▲
Current investments50/53€23k€30k▲
Cash at bank and in hand54/58€117k€8k▼
Deferred charges and accrued income490/1€37k€30k▼
Equity and liabilities
Total equity and liabilities10/49€770k€627k▼
Equity10/15€520k€362k▼
Contributions10/11€6k€6k=
Reserves13€425k€267k▼
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€423k€265k▼
Profit (loss) carried forward14€89k€89k▲
Amounts payable17/49€250k€265k▲
Amounts payable after more than one year17€54k€44k▼
Financial debts170/4€54k€44k▼
Amounts payable within one year42/48€195k€209k▲
Current portion of amounts payable after more than one year42€10k€11k▲
Trade debts44€25k€12k▼
Suppliers440/4€25k€12k▼
Taxes, remuneration and social security45€68k€11k▼
Taxes450/3€68k€11k▼
Other amounts payable47/48€92k€176k▲
Accrued charges and deferred income492/3€321€12k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21k€17k▼
Other operating charges640/8€5k€5k▼
Non-recurring operating charges66A€2k€40k▲
Gross operating margin9900€-527€84k▲
Operating profit (loss)9901€-28k€23k▲
Financial income75/76B€5-
Recurring financial income75€5-
Financial charges65/66B€3k€2k▼
Recurring financial charges65€3k€2k▼
Profit (loss) for the period before taxes9903€-31k€21k▲
Income taxes67/77€-17k€3k▲
Profit (loss) for the period9904€-14k€18k▲
Profit (loss) for the period to be appropriated9905€-14k€18k▲
Appropriation of the result
Profit (loss) to be appropriated9906€89k€107k▲
Profit (loss) brought forward from the previous period14P€104k€89k▼
Transfer from equity791/2€92k€176k▲
Transfer to equity691/2-€18k
To other reserves6921-€18k
Profit to be distributed694/7€92k€176k▲
Return on contributions (dividend)694€92k€176k▲
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €280 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19k | €15k | €20k | €21k | €17k | ▼ 19.9% |
| Other operating charges640/8 | €17k | €8k | €9k | €5k | €5k | ▼ 10.5% |
| Non-recurring operating charges66A | - | €123k | - | €2k | €40k | ▲ 2,218% |
| Gross operating margin9900 | €408k | €359k | €440k | €-527 | €84k | ▲ 16,075% |
| Operating profit (loss)9901 | €371k | €212k | €410k | €-28k | €23k | ▲ 182% |
| Financial income75/76B | €802 | - | €187 | €5 | - | - |
| Recurring financial income75 | €802 | - | €187 | €5 | - | - |
| Financial charges65/66B | €4k | €4k | €4k | €3k | €2k | ▼ 12.8% |
| Recurring financial charges65 | €4k | €4k | €4k | €3k | €2k | ▼ 12.8% |
| Profit (loss) for the period before taxes9903 | €368k | €208k | €406k | €-31k | €21k | ▲ 167% |
| Income taxes67/77 | €3k | €197k | €170k | €-17k | €3k | ▲ 119% |
| Profit (loss) for the period9904 | €366k | €11k | €236k | €-14k | €18k | ▲ 222% |
| Profit (loss) for the period to be appropriated9905 | €366k | €11k | €236k | €-14k | €18k | ▲ 222% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.17M | €1.34M | €1.26M | €770k | €627k | ▼ 18.5% |
| Fixed assets21/28 | €318k | €279k | €272k | €257k | €242k | ▼ 6.0% |
| Tangible fixed assets22/27 | €288k | €274k | €267k | €252k | €237k | ▼ 6.1% |
| Land and buildings22 | €287k | €273k | €258k | €250k | €235k | ▼ 6.0% |
| Plant, machinery and equipment23 | - | - | €3k | €2k | €2k | ▼ 2.0% |
| Furniture and vehicles24 | €1k | €1k | €6k | €473 | - | - |
| Financial fixed assets28 | €30k | €5k | €5k | €5k | €5k | = |
| Current assets29/58 | €856k | €1.06M | €988k | €512k | €385k | ▼ 24.8% |
| Amounts receivable within one year40/41 | €508k | €589k | €858k | €336k | €317k | ▼ 5.8% |
| Trade receivables40 | €89k | €90k | €293k | €46k | €17k | ▼ 63.6% |
| Other amounts receivable41 | €418k | €499k | €565k | €290k | €300k | ▲ 3.4% |
| Current investments50/53 | €5k | €10k | €15k | €23k | €30k | ▲ 33.3% |
| Cash at bank and in hand54/58 | €312k | €419k | €74k | €117k | €8k | ▼ 92.8% |
| Deferred charges and accrued income490/1 | €32k | €45k | €41k | €37k | €30k | ▼ 18.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.17M | €1.34M | €1.26M | €770k | €627k | ▼ 18.5% |
| Equity10/15 | €461k | €419k | €626k | €520k | €362k | ▼ 30.3% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Outside capital11 | €6k | €6k | - | - | - | - |
| Other1109/19 | €6k | €6k | - | - | - | - |
| Reserves13 | €351k | €309k | €516k | €425k | €267k | ▼ 37.2% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €350k | €307k | €515k | €423k | €265k | ▼ 37.3% |
| Profit (loss) carried forward14 | €104k | €104k | €104k | €89k | €89k | ▲ 0.2% |
| Amounts payable17/49 | €713k | €923k | €633k | €250k | €265k | ▲ 6.1% |
| Amounts payable after more than one year17 | €118k | €88k | €65k | €54k | €44k | ▼ 19.5% |
| Financial debts170/4 | €118k | €88k | €65k | €54k | €44k | ▼ 19.5% |
| Amounts payable within one year42/48 | €595k | €833k | €565k | €195k | €209k | ▲ 7.0% |
| Current portion of amounts payable after more than one year42 | €30k | €30k | €23k | €10k | €11k | ▲ 2.1% |
| Trade debts44 | €398 | €4k | €191k | €25k | €12k | ▼ 52.8% |
| Suppliers440/4 | €398 | €4k | €191k | €25k | €12k | ▼ 52.8% |
| Taxes, remuneration and social security45 | €200k | €381k | €322k | €68k | €11k | ▼ 84.4% |
| Taxes450/3 | €200k | €381k | €319k | €68k | €11k | ▼ 84.4% |
| Remuneration and social security454/9 | - | - | €3k | - | - | - |
| Other amounts payable47/48 | €365k | €419k | €29k | €92k | €176k | ▲ 91.8% |
| Accrued charges and deferred income492/3 | €109 | €1k | €4k | €321 | €12k | ▲ 3,782% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €366k | €11k | €236k | €-14k | €18k | ▲ 222% |
| + Depreciation and write-downs630 | €19k | €15k | €20k | €21k | €17k | ▼ 19.9% |
| Operating cash flow (approximation) | €385k | €26k | €257k | €6k | €34k | ▲ 433% |
| Investment in fixed assets (approximation) | - | €25k | €-13k | €-7k | €-1k | ▲ 80.8% |
| Change in cash | - | €108k | €-345k | €43k | €-108k | ▼ 354% |
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
21-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 52 days late
2025
31-12
Financial
Back to profitnet €18k
Net result €18k after one loss-making year.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-14k
Net result drops to €-14k, the lowest in the series; recovery starts the following year.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
31-12
Financial
Equity above €500kEq €626k ▲49.5%
6 profitable years in a row build equity to €626k.
06-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 67 days late
01-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 305 days late
2022
21-09
Bankruptcy
Judicial dissolution
Ondernemingsrechtbank Brussel
12-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 408 days late
2021
31-12
Financial
Highest result since 2018net €366k ▲108%
Net result €366k, the highest in the series.
06-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 493 days late
Show earlier events
2020
17-03
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 960 days late
2019
31-12
Financial
Equity above €200kEq €285k ▲47.5%
2 profitable years in a row build equity to €285k.
23-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 84 days late
19-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 415 days late
SignalFinancial 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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Brussel · 1 establishment unit since 2008
Ground area
716 m²
Building footprint
651 m²
Volume, LiDAR
13,797 m³
Parcel 21811M0722/00N000, Brussels · tallest building 32.1 m, ±9 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
TIBORED
since 20082.171.226.125
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21811M0722/00N000 | Brussels | 716 m² | 1 · 651 m² | 32.1 m · 9 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Similar companies · same sector, comparable size
COLLOPINN
BE 0839.756.714
Mortsel · Eq €362,397
ACTIONS LOCALES POUR INDEPENDANTS
BE 0643.757.722
Seraing · Eq €362,439
CTM Advisory
BE 0800.863.870
Vorst · Eq €362,384
LOFMA Consulting
BE 0836.827.908
Amay · Eq €362,382
XEROS
BE 0894.647.430
Nieuwpoort · Eq €362,469
Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 36,993 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 (pre-2019)
Founded31-01-2008
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.