TIEMAC
ActiveSummary
TIEMAC has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.1m and a net result of €1.6m. Equity is growing by ~30.8% per year across the filed fiscal years. Its solvency ranks better than 43% of 8765 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability87▲+6
Solvency69▲+10
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €400,000 at 30 days acceptable
Liquidity ample (current ratio 3.01 against 1.72 in 2024; short-term debt: 10.5% and cash: 2.5% of total assets), but 55.6% 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○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
44.4%
Return on assets
14.3%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 31-10-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
1 d early
2023
on the day
2022
61 d late
2021
33 d late
2020
61 d late
2018
2 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 22 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today. Usually files around 30 October (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close29-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€5.1m▲ 46.9%
2024 · €3.5m
Total assets
€11.4m▲ 13.8%
2024 · €10.0m
Net result
€1.6m▲ 66.7%
2024 · €980,035
Working capital
€2.4m▲ 192%
2024 · €824,736
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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€143,412▲ 15.7%€779,453▲ 444%€632,576▼ 18.8%€1.5m▲ 133%€2.5m▲ 66.9%
Net result€54,837within the sector's middle half▲ 155%€751,338above the sector's middle half▲ 1,270%€419,873above the sector's middle half▼ 44.1%€980,035above the sector's middle half▲ 133%€1.6mabove the sector's middle half▲ 66.7%
Equity€1.3mabove the sector's middle half▲ 2.5%€2.1mabove the sector's middle half▲ 53.8%€2.5mabove the sector's middle half▲ 20.0%€3.5mabove the sector's middle half▲ 39.0%€5.1mabove the sector's middle half▲ 46.9%
Total assets€6.2mabove the sector's middle half▲ 12.0%€8.7mabove the sector's middle half▲ 39.9%€9.2mabove the sector's middle half▲ 5.4%€10.0mabove the sector's middle half▲ 9.2%€11.4mabove the sector's middle half▲ 13.8%
Debt€4.9m▲ 14.9%€6.6m▲ 36.0%€6.7m▲ 0.9%€6.6m▼ 1.8%€6.4m▼ 3.5%
Working capital-€356,985below the sector's middle half▼ 25.1%€421,000above the sector's middle half€317,363within the sector's middle half▼ 24.6%€824,736above the sector's middle half▲ 160%€2.4mabove the sector's middle half▲ 192%
Solvency21.6%below the sector's middle half▼ 2.0pp23.8%below the sector's middle half▲ 2.1pp27.0%within the sector's middle half▲ 3.3pp34.4%within the sector's middle half▲ 7.4pp44.4%within the sector's middle half▲ 10.0pp
Current ratio0.78within the sector's middle half▼ 0.041.54within the sector's middle half▲ 0.761.37within the sector's middle half▼ 0.171.72within the sector's middle half▲ 0.353.01within the sector's middle half▲ 1.28
Return on assets (ROA)0.9%within the sector's middle half▲ 0.5pp8.6%within the sector's middle half▲ 7.7pp4.6%within the sector's middle half▼ 4.1pp9.8%within the sector's middle half▲ 5.2pp14.3%within the sector's middle half▲ 4.5pp
Staff (FTE)19.8above the sector's middle half▼ 15.4%17.5above the sector's middle half▼ 11.6%4.6above the sector's middle half▼ 73.7%8.4above the sector's middle half▲ 82.6%10.6above the sector's middle half▲ 26.2%
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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.
Why a figure moved sharply
- 2024 Net result +133% on 2023. The previous fiscal year ran 13 months, this one 12.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 67% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.4m
Fixed assets
€7.8m ▼ 3.1%
Current assets
€3.6m ▲ 83.6%
Equity and liabilities €11.4m
Equity
€5.1m ▲ 46.9%
Debt
€6.4m ▼ 3.5%
Debt's share of the balance-sheet total falls from 65.6% to 55.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€2.8m▲
2024 · €1.8m
Cash flow
€2.0m▲
2024 · €1.3m
Debt to equity
1.25▼
2024 · 1.91
ROE
32.2%▲
2024 · 28.4%
Interest coverage
26.75▲
2024 · 18.40
Debt ≤ 1 year
€1.2m▲
2024 · €1.1m
Debt > 1 year
€4.9m▼
2024 · €5.4m
Income taxes
€795,203▲
2024 · €427,017
Staff costs
€627,681▲
2024 · €490,717
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,134 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% 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 20,134 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 | - | €404,400 | €0 | - | - | - |
| Remuneration, social security and pensions62 | - | €931,753 | €254,579 | €490,717 | €627,681 | ▲ 27.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €364,980 | €494,911 | €314,307 | €344,005 | €380,686 | ▲ 10.7% |
| Other operating charges640/8 | - | €29,243 | €24,089 | €31,179 | €25,450 | ▼ 18.4% |
| Gross operating margin9900 | €1.6m | €2.2m | €1.2m | €2.3m | €3.5m | ▲ 49.3% |
| Operating profit (loss)9901 | €143,412 | €779,453 | €632,576 | €1.5m | €2.5m | ▲ 66.9% |
| Financial income75/76B | - | €158,214 | €44,678 | €34,476 | €79,472 | ▲ 131% |
| Recurring financial income75 | €27,912 | €158,214 | €44,678 | €34,476 | €79,472 | ▲ 131% |
| Financial charges65/66B | - | €83,740 | €99,163 | €98,633 | €106,019 | ▲ 7.5% |
| Recurring financial charges65 | €90,695 | €83,740 | €99,163 | €98,633 | €106,019 | ▲ 7.5% |
| Profit (loss) for the period before taxes9903 | €80,629 | €853,927 | €578,091 | €1.4m | €2.4m | ▲ 72.6% |
| Income taxes67/77 | €25,793 | €102,588 | €158,218 | €427,017 | €795,203 | ▲ 86.2% |
| Profit (loss) for the period9904 | €54,837 | €751,338 | €419,873 | €980,035 | €1.6m | ▲ 66.7% |
| Transfer to tax-exempt reserves689 | - | €16,997 | €14,289 | €15,339 | €14,490 | ▼ 5.5% |
| Profit (loss) for the period to be appropriated9905 | €38,629 | €734,342 | €405,583 | €964,695 | €1.6m | ▲ 67.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €6.2m | €8.7m | €9.2m | €10.0m | €11.4m | ▲ 13.8% |
| Fixed assets21/28 | €5.0m | €7.5m | €8.0m | €8.1m | €7.8m | ▼ 3.1% |
| Tangible fixed assets22/27 | €5.0m | €7.5m | €8.0m | €8.1m | €7.8m | ▼ 3.1% |
| Land and buildings22 | - | €7.5m | €7.8m | €7.5m | €7.4m | ▼ 1.9% |
| Plant, machinery and equipment23 | - | €12,485 | €170,098 | €425,075 | €344,408 | ▼ 19.0% |
| Furniture and vehicles24 | - | €24,046 | €63,206 | €106,853 | €77,064 | ▼ 27.9% |
| Current assets29/58 | €1.2m | €1.2m | €1.2m | €2.0m | €3.6m | ▲ 83.6% |
| Amounts receivable within one year40/41 | €1.1m | €795,691 | €887,735 | €1.4m | €3.3m | ▲ 142% |
| Trade receivables40 | - | €35,950 | €103,674 | €436,094 | €353,412 | ▼ 19.0% |
| Other amounts receivable41 | - | €759,742 | €784,061 | €937,301 | €3.0m | ▲ 217% |
| Cash at bank and in hand54/58 | €173,889 | €366,798 | €256,622 | €563,903 | €281,018 | ▼ 50.2% |
| Deferred charges and accrued income490/1 | - | €40,197 | €28,992 | €28,228 | €100 | ▼ 99.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €6.2m | €8.7m | €9.2m | €10.0m | €11.4m | ▲ 13.8% |
| Equity10/15 | €1.3m | €2.1m | €2.5m | €3.5m | €5.1m | ▲ 46.9% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1.3m | €2.1m | €2.5m | €3.4m | €5.1m | ▲ 47.1% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | €1.2m | €1.2m | €1.2m | €1.2m | ▲ 1.2% |
| Distributable reserves133 | - | €855,846 | €1.3m | €2.2m | €3.8m | ▲ 72.6% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €4.9m | €6.6m | €6.7m | €6.6m | €6.4m | ▼ 3.5% |
| Amounts payable after more than one year17 | €3.3m | €5.9m | €5.8m | €5.4m | €4.9m | ▼ 9.5% |
| Financial debts170/4 | - | €5.9m | €5.8m | €5.4m | €4.9m | ▼ 9.5% |
| Amounts payable within one year42/48 | €1.6m | €781,686 | €855,986 | €1.1m | €1.2m | ▲ 5.3% |
| Current portion of amounts payable after more than one year42 | - | €385,281 | €476,588 | €500,529 | €505,000 | ▲ 0.9% |
| Financial debts43 | - | €0 | - | - | €69,625 | - |
| Credit institutions430/8 | - | €0 | - | - | €69,625 | - |
| Trade debts44 | €66,806 | €9,491 | €44,071 | €126,242 | €66,356 | ▼ 47.4% |
| Suppliers440/4 | - | €9,491 | €44,071 | €126,242 | €66,356 | ▼ 47.4% |
| Advances received on contracts in progress46 | - | €222,000 | €124,000 | €0 | - | - |
| Taxes, remuneration and social security45 | - | €78,143 | €143,822 | €424,898 | €398,722 | ▼ 6.2% |
| Taxes450/3 | - | €74,794 | €115,459 | €355,842 | €307,240 | ▼ 13.7% |
| Remuneration and social security454/9 | - | €3,348 | €28,363 | €69,055 | €91,482 | ▲ 32.5% |
| Other amounts payable47/48 | - | €86,771 | €67,505 | €89,122 | €161,272 | ▲ 81.0% |
| Accrued charges and deferred income492/3 | - | - | €3,473 | €29,505 | €253,162 | ▲ 758% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €54,837 | €751,338 | €419,873 | €980,035 | €1.6m | ▲ 66.7% |
| + Depreciation and write-downs630 | €364,980 | €494,911 | €314,307 | €344,005 | €380,686 | ▲ 10.7% |
| Operating cash flow (approximation) | €419,817 | €1.2m | €734,180 | €1.3m | €2.0m | ▲ 52.1% |
| Investment in fixed assets (approximation) | - | -€3.0m | -€816,875 | -€400,897 | -€126,791 | ▲ 68.4% |
| Change in cash | - | €192,909 | -€110,176 | €307,280 | -€282,885 | ▼ 192% |
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
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-03
Financial
Highest result since 2020net €1.6m ▲66.7%
Operating result €2.5m, net result €1.6m, both a record.
31-03
Financial
Equity above €5mEq €5.1m ▲46.9%
6 profitable years in a row build equity to €5.1m.
2024
30-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
30-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 61 days late
28-02
Financial
Equity above €2mEq €2.1m ▲53.8%
3 profitable years in a row build equity to €2.1m.
2021
02-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 33 days late
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 61 days late
2018
29-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
27-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
28-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Show earlier events
2015
30-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2014
10-03
State Gazette act
Purpose change · Capital increase
Capital · Auditor report
2008
26-06
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Roeselare · 1 establishment unit since 2008
Ground area
923 m²
Building footprint
180 m²
Volume, LiDAR
799 m³
Parcel 36505B0198/00H000, Flanders · tallest building 6.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
TIEMAC
since 20082.174.426.729
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36505B0198/00H000 | Flanders | 923 m² | 1 · 180 m² | 6.9 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.
Structure & network
Connections & network
The group is listed under Ownership & control below; here you explore it as a network.
This company
Company
Director
Shareholding
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
Public money · subsidies and aid
Flemish government
2022 to 2025 · 9 entries · 31,678 EUR awarded · 31,677 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 3 | 8,060 EUR | 8,060 EUR |
| 2024 | 2 | 8,509 EUR | 8,627 EUR |
| 2023 | 2 | 8,562 EUR | 8,443 EUR |
| 2022 | 2 | 6,547 EUR | 6,547 EUR |
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Of 82,646 companies in sector 70200 we hold annual accounts for 52,627. 11,141 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
Founded15-09-2006
Fiscal year end31-03
Activities, NACEBEL 2025
70200Business and other management consultancy
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
73300Public relations and communication consultancy
82100Office administrative and support services
82990Other business support services
85599Other education
E-invoicing
Reachable via Peppol
Peppol ID
0208:0883542415
Registered
27-03-2026
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.