TIM TRADE
Special situationSummary
The file of TIM TRADE contains 4 judicial reorganisation notices and 2 historical bankruptcy publications, as published in the Belgian Official Gazette. The KBO register currently lists the legal status of TIM TRADE as special situation, with no start date. During the judicial reorganisation Checked does not compute a bankruptcy probability from the figures: of the Belgian companies that opened one in 2023 and 2024, about one in four went bankrupt within twelve months. The 2024 annual accounts show negative equity (-€423,259) and a net result of €692, of which €57,549 non-recurring income. Equity is shrinking by about 25% per year across the filed financial years. Its solvency ranks better than 5% of 25,567 sector peers (NACE 47, financial year 2024).
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- TIM TRADE
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région de Bruxelles-Capitale” (deed in French)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “prédécesseur, sauf si l’assemblée générale en décide autrement. À défaut de confirmation, le mandat de l’administrateur coopté prend fin…”
- Board ruleHow the board is made up, meets and takes decisions.
- “11” (deed in French)“Au moins la moitié de ses membres sont présents ou représentés, majorité absolue des voix” (deed in French)
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “10” (deed in French)
- Authorised capitalThe amount by which the board may raise capital without a new shareholder decision.
- One provision in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Third Friday of May at 11:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Article 2:80 du Code des sociétés et des associations” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Administrateurs en exercice ou à défaut liquidateurs nommés par l'assemblée générale, solde éventuel réparti entre les actionnaires dans la…” (deed in French)