TIMA
ActiveSummary
The computed 12-month bankruptcy probability of TIMA is 5.3% (elevated). For TIMA, at least two filing cycles of the annual accounts are missing. The 2023 annual accounts show equity of €37,334 and a net result of -€63,396. Equity is shrinking by ~25.5% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2024. The company has been active since 2009 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags).
Checked score
No current score
Figures too old
The available figures for FY 2023 are too old to assess current financial health.
Bankruptcy probability: Elevated
Filing: At least two filing cycles are missing
Axes, FY 2023 · tick = 2022
Profitability0▼-6
Solvency41▼-20
Growth32=
Track record92
Bankruptcy probability, 12 months
5.3%
Elevated
0%0.5%1.5%4%10%≥ 25%
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Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2023Solvency, return and age of the figures
Solvency
15.7%
Return on assets
-26.7%
Age of the figures
33 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
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2024 close31-07-2025 deadline27-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 02-10-2024, 63 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
not confirmed
2024
not filed
2023
63 d late
2022
429 d late
2021
794 d late
2020
388 d late
2019
580 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 5 accounts on average 451 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Address struck
History
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Financials · fiscal year 2023, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€37,334▼ 62.9%
2022 · €100,730
Total assets
€237,369▼ 15.6%
2022 · €281,117
Net result
-€63,396▼ 118%
2022 · -€29,107
Working capital
€34,875▼ 64.5%
2022 · €98,343
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20192020202120222023
Operating result-€7,046€5,500-€73,084-€13,162▲ 82.0%-€35,939▼ 173%
Net result-€15,807-€7,147▲ 54.8%-€103,170▼ 1,343%-€29,107▲ 71.8%-€63,396▼ 118%
Equity€240,153▼ 6.2%€233,006▼ 3.0%€129,836▼ 44.3%€100,730▼ 22.4%€37,334▼ 62.9%
Total assets€494,330▼ 12.3%€584,099▲ 18.2%€478,059▼ 18.2%€281,117▼ 41.2%€237,369▼ 15.6%
Debt€254,177▼ 17.4%€351,093▲ 38.1%€348,223▼ 0.8%€180,387▼ 48.2%€200,035▲ 10.9%
Working capital€240,228▼ 5.2%€231,703▼ 3.5%€127,477▼ 45.0%€98,343▼ 22.9%€34,875▼ 64.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €35,939 in 2023 against €13,162 in 2022; the loss grows.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €237,369
Fixed assets
€3,358 ▼ 43.6%
Current assets
€234,011 ▼ 15.0%
Equity and liabilities €237,369
Equity
€37,334 ▼ 62.9%
Debt
€200,035 ▲ 10.9%
Debt's share of the balance-sheet total rises from 64.2% to 84.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€33,343▼
2022 · -€10,565
Cash flow
-€60,800▼
2022 · -€26,510
Current ratio
1.18▼
2022 · 1.56
Quick ratio
0.38▼
2022 · 0.66
Debt to equity
5.36▲
2022 · 1.79
ROE
-169.8%▼
2022 · -28.9%
ROA
-26.7%▼
2022 · -10.4%
Interest coverage
-2.45▼
2022 · -1.06
Debt ≤ 1 year
€199,136▲
2022 · €176,820
Debt > 1 year
€899▼
2022 · €3,567
Income taxes
€15,908▲
2022 · €5,981
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €3,000 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €1,835 | €2,596 | €2,596 | €2,596 | = |
| Other operating charges640/8 | - | €141,424 | €15,105 | €7,167 | €30,207 | ▲ 321% |
| Gross operating margin9900 | -€4,562 | €148,759 | -€55,383 | -€3,398 | -€3,136 | ▲ 7.7% |
| Operating profit (loss)9901 | -€7,046 | €5,500 | -€73,084 | -€13,162 | -€35,939 | ▼ 173% |
| Financial income75/76B | - | - | €621 | - | €2,076 | - |
| Recurring financial income75 | €758 | - | €621 | - | €2,076 | - |
| Financial charges65/66B | - | €12,647 | €6,245 | €9,964 | €13,625 | ▲ 36.7% |
| Recurring financial charges65 | €9,519 | €6,647 | €6,245 | €9,964 | €13,625 | ▲ 36.7% |
| Non-recurring financial charges66B | - | €6,000 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€15,807 | -€7,147 | -€78,708 | -€23,126 | -€47,489 | ▼ 105% |
| Income taxes67/77 | - | - | €24,462 | €5,981 | €15,908 | ▲ 166% |
| Profit (loss) for the period9904 | -€15,807 | -€7,147 | -€103,170 | -€29,107 | -€63,396 | ▼ 118% |
| Profit (loss) for the period to be appropriated9905 | -€15,807 | -€7,147 | -€103,170 | -€29,107 | -€63,396 | ▼ 118% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €494,330 | €584,099 | €478,059 | €281,117 | €237,369 | ▼ 15.6% |
| Fixed assets21/28 | €6,000 | €11,147 | €8,550 | €5,954 | €3,358 | ▼ 43.6% |
| Tangible fixed assets22/27 | - | €11,147 | €8,550 | €5,954 | €3,358 | ▼ 43.6% |
| Leasing and similar rights25 | - | €11,147 | €8,550 | €5,954 | €3,358 | ▼ 43.6% |
| Financial fixed assets28 | €6,000 | - | - | - | - | - |
| Current assets29/58 | €488,330 | €572,952 | €469,509 | €275,163 | €234,011 | ▼ 15.0% |
| Stocks and contracts in progress3 | €193,401 | €157,881 | €157,881 | €157,881 | €157,881 | = |
| Stocks30/36 | - | €157,881 | €157,881 | €157,881 | €157,881 | = |
| Amounts receivable within one year40/41 | €294,104 | €413,872 | €311,590 | €117,022 | €75,871 | ▼ 35.2% |
| Trade receivables40 | - | €403,301 | €295,579 | €101,582 | €60,431 | ▼ 40.5% |
| Other amounts receivable41 | - | €10,571 | €16,011 | €15,440 | €15,440 | = |
| Cash at bank and in hand54/58 | €825 | €1,199 | €37 | €260 | €260 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €494,330 | €584,099 | €478,059 | €281,117 | €237,369 | ▼ 15.6% |
| Equity10/15 | €240,153 | €233,006 | €129,836 | €100,730 | €37,334 | ▼ 62.9% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €220,860 | €213,860 | €110,860 | €81,860 | €17,860 | ▼ 78.2% |
| 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 | = |
| Distributable reserves133 | - | €212,000 | €109,000 | €80,000 | €16,000 | ▼ 80.0% |
| Profit (loss) carried forward14 | €693 | €546 | €376 | €270 | €874 | ▲ 224% |
| Amounts payable17/49 | €254,177 | €351,093 | €348,223 | €180,387 | €200,035 | ▲ 10.9% |
| Amounts payable after more than one year17 | - | €8,773 | €6,191 | €3,567 | €899 | ▼ 74.8% |
| Financial debts170/4 | - | €8,773 | €6,191 | €3,567 | €899 | ▼ 74.8% |
| Amounts payable within one year42/48 | €248,102 | €341,249 | €342,031 | €176,820 | €199,136 | ▲ 12.6% |
| Current portion of amounts payable after more than one year42 | - | €2,539 | €2,582 | €2,624 | €2,668 | ▲ 1.7% |
| Financial debts43 | - | €140,000 | €145,077 | €140,241 | €140,355 | ▲ 0.1% |
| Credit institutions430/8 | - | €140,000 | €145,077 | €140,241 | €140,355 | ▲ 0.1% |
| Trade debts44 | €40,455 | €39,795 | €157 | - | €3,185 | - |
| Suppliers440/4 | - | €39,795 | €157 | - | €3,185 | - |
| Taxes, remuneration and social security45 | - | €93,973 | €174,216 | €21,726 | €49,055 | ▲ 126% |
| Taxes450/3 | - | €93,973 | €174,216 | €21,726 | €49,055 | ▲ 126% |
| Other amounts payable47/48 | - | €64,942 | €20,000 | €12,229 | €3,874 | ▼ 68.3% |
| Accrued charges and deferred income492/3 | - | €1,071 | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€15,807 | -€7,147 | -€103,170 | -€29,107 | -€63,396 | ▼ 118% |
| + Depreciation and write-downs630 | - | €1,835 | €2,596 | €2,596 | €2,596 | = |
| Operating cash flow (approximation) | -€15,807 | -€5,312 | -€100,573 | -€26,510 | -€60,800 | ▼ 129% |
| Investment in fixed assets (approximation) | - | -€6,982 | €0 | €0 | €0 | - |
| Change in cash | - | €374 | -€1,161 | €222 | €0 | ▼ 100% |
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
2025
05-09
KBO administration
Address struck
Verzetslaan(M) 13 Die Sitzadresse Verzetslaan(M) 13 8552
Zwevegem · event 25-08-2025
2024
02-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 63 days late
02-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 429 days late
02-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 794 days late
2022
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 388 days late
03-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 580 days late
2021
31-12
Financial
Weakest financial yearnet -€103,170
Net result drops to -€103,170, the lowest in the series; recovery starts the following year.
2020
09-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 253 days late
2018
06-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 37 days late
2017
24-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 24 days late
2016
27-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 58 days late
2015
28-04
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
SignalFinancial milestoneNBB 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, Zwevegem · 1 establishment unit since 2009
Ground area
1,429 m²
Building footprint
820 m²
Volume, LiDAR
4,870 m³
Parcel 34028C0625/00M002, Flanders · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
TIMA
since 20092.178.127.476
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34028C0625/00M002 | Flanders | 1,429 m² | 1 · 820 m² | 7.0 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.
Recognitions · licences · registrations
Legal Entity Identifier
549300WYHCS9OK7ERJ62
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded24-04-2009
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
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Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.