TIMAYA
ActiveSummary
TIMAYA has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €102,219 and a net result of €42,464. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 53% of 1577 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability87▲+6
Solvency61▲+14
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity tight (current ratio 1.08 against 0.89 in 2024; short-term debt: 52.1% and cash: 23.7% of total assets), and 64.2% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five 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 10
Relative position
BE, all sectors
reference
Manufacture of food products (NACE 10)
about 60% more 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
35.8%
Return on assets
14.9%
Age of the figures
15 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €102,219
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 07-04-2026, 66 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
66 d late
2024
21 d late
2023
on the day
2022
2 d early
2021
15 d late
2020
26 d late
2019
95 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 4 days after the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€102,219▲ 71.1%
2024 · €59,755
Total assets
€285,299▲ 3.0%
2024 · €277,080
Net result
€42,464▲ 62.7%
2024 · €26,105
Working capital
€12,409
2024 · -€19,755
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 10, Manufacture of food products, 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€54,046▼ 34.4%€10,295▼ 81.0%€19,473▲ 89.2%€38,906▲ 99.8%€61,376▲ 57.8%
Net result€38,967above the sector's middle half▼ 45.6%€3,328within the sector's middle half▼ 91.5%€10,201within the sector's middle half▲ 207%€26,105within the sector's middle half▲ 156%€42,464above the sector's middle half▲ 62.7%
Equity€20,120within the sector's middle half€23,448within the sector's middle half▲ 16.5%€33,649within the sector's middle half▲ 43.5%€59,755within the sector's middle half▲ 77.6%€102,219within the sector's middle half▲ 71.1%
Total assets€306,677within the sector's middle half▼ 12.7%€299,711within the sector's middle half▼ 2.3%€251,264within the sector's middle half▼ 16.2%€277,080within the sector's middle half▲ 10.3%€285,299within the sector's middle half▲ 3.0%
Debt€286,557▼ 22.6%€276,263▼ 3.6%€217,614▼ 21.2%€217,325▼ 0.1%€183,080▼ 15.8%
Working capital-€79,589below the sector's middle half▲ 22.8%-€82,176below the sector's middle half▼ 3.3%-€63,199below the sector's middle half▲ 23.1%-€19,755within the sector's middle half▲ 68.7%€12,409within the sector's middle half
Solvency6.6%within the sector's middle half▲ 11.9pp7.8%within the sector's middle half▲ 1.3pp13.4%within the sector's middle half▲ 5.6pp21.6%within the sector's middle half▲ 8.2pp35.8%within the sector's middle half▲ 14.3pp
Current ratio0.55below the sector's middle half▲ 0.060.48below the sector's middle half▼ 0.070.57below the sector's middle half▲ 0.100.89within the sector's middle half▲ 0.321.08within the sector's middle half▲ 0.19
Return on assets (ROA)12.7%within the sector's middle half▼ 7.7pp1.1%within the sector's middle half▼ 11.6pp4.1%within the sector's middle half▲ 2.9pp9.4%within the sector's middle half▲ 5.4pp14.9%above the sector's middle half▲ 5.5pp
Staff (FTE)5▼ 16.7%5.4▲ 8.0%5.8▲ 7.4%5.5▼ 5.2%3.2▼ 41.8%
above
within
below
the middle half (P25 to P75) of NACE 10, Manufacture of food products, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 58% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €285,299
Fixed assets
€124,321 ▲ 5.9%
Current assets
€160,978 ▲ 0.8%
Equity and liabilities €285,299
Equity
€102,219 ▲ 71.1%
Debt
€183,080 ▼ 15.8%
Debt's share of the balance-sheet total falls from 78.4% to 64.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€97,674▲
2024 · €91,136
Cash flow
€78,762▲
2024 · €78,336
Quick ratio
0.98▲
2024 · 0.77
Debt to equity
1.79▼
2024 · 3.64
ROE
41.5%▼
2024 · 43.7%
Interest coverage
46.09▲
2024 · 33.63
Debt ≤ 1 year
€148,570▼
2024 · €179,431
Debt > 1 year
€34,511▼
2024 · €37,408
Income taxes
€16,800▲
2024 · €10,610
Staff costs
€133,079▼
2024 · €221,445
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 31,349 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 | - | - | - | - | €90,410 | - |
| Remuneration, social security and pensions62 | - | €172,820 | €168,927 | €221,445 | €133,079 | ▼ 39.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €55,777 | €53,777 | €63,654 | €52,230 | €36,298 | ▼ 30.5% |
| Other operating charges640/8 | - | €5,253 | €5,472 | €3,001 | €8,826 | ▲ 194% |
| Gross operating margin9900 | €284,035 | €242,145 | €257,526 | €315,582 | €239,578 | ▼ 24.1% |
| Operating profit (loss)9901 | €54,046 | €10,295 | €19,473 | €38,906 | €61,376 | ▲ 57.8% |
| Financial income75/76B | - | €289 | €26 | €519 | €7 | ▼ 98.7% |
| Recurring financial income75 | €21 | €289 | €26 | €519 | €7 | ▼ 98.7% |
| Financial charges65/66B | - | €5,106 | €4,233 | €2,710 | €2,119 | ▼ 21.8% |
| Recurring financial charges65 | €6,543 | €5,106 | €4,233 | €2,710 | €2,119 | ▼ 21.8% |
| Profit (loss) for the period before taxes9903 | €47,524 | €5,478 | €15,265 | €36,715 | €59,264 | ▲ 61.4% |
| Income taxes67/77 | €8,557 | €2,150 | €5,064 | €10,610 | €16,800 | ▲ 58.3% |
| Profit (loss) for the period9904 | €38,967 | €3,328 | €10,201 | €26,105 | €42,464 | ▲ 62.7% |
| Profit (loss) for the period to be appropriated9905 | €38,967 | €3,328 | €10,201 | €26,105 | €42,464 | ▲ 62.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €306,677 | €299,711 | €251,264 | €277,080 | €285,299 | ▲ 3.0% |
| Fixed assets21/28 | €210,700 | €224,304 | €165,810 | €117,404 | €124,321 | ▲ 5.9% |
| Tangible fixed assets22/27 | €210,450 | €224,133 | €165,810 | €117,404 | €124,321 | ▲ 5.9% |
| Land and buildings22 | - | €13,424 | €6,712 | - | - | - |
| Plant, machinery and equipment23 | - | €49,684 | €24,799 | €14,059 | €10,093 | ▼ 28.2% |
| Furniture and vehicles24 | - | €95,841 | €76,611 | €52,791 | €59,728 | ▲ 13.1% |
| Other tangible fixed assets26 | - | €65,183 | €57,689 | €50,553 | €54,500 | ▲ 7.8% |
| Financial fixed assets28 | €250 | €171 | - | - | - | - |
| Current assets29/58 | €95,977 | €75,408 | €85,454 | €159,676 | €160,978 | ▲ 0.8% |
| Stocks and contracts in progress3 | €8,549 | €14,035 | €21,337 | €21,184 | €15,507 | ▼ 26.8% |
| Stocks30/36 | - | €14,035 | €21,337 | €21,184 | €15,507 | ▼ 26.8% |
| Amounts receivable within one year40/41 | €30,029 | €5,573 | €19,709 | €53,877 | €72,446 | ▲ 34.5% |
| Trade receivables40 | - | €2,964 | €17,859 | €50,620 | €63,614 | ▲ 25.7% |
| Other amounts receivable41 | - | €2,608 | €1,850 | €3,257 | €8,832 | ▲ 171% |
| Cash at bank and in hand54/58 | €57,115 | €53,611 | €44,016 | €82,157 | €67,638 | ▼ 17.7% |
| Deferred charges and accrued income490/1 | - | €2,189 | €392 | €2,459 | €5,387 | ▲ 119% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €306,677 | €299,711 | €251,264 | €277,080 | €285,299 | ▲ 3.0% |
| Equity10/15 | €20,120 | €23,448 | €33,649 | €59,755 | €102,219 | ▲ 71.1% |
| Contributions10/11 | - | €14,200 | €14,200 | €16,060 | €16,060 | = |
| Outside capital11 | - | - | €14,200 | €16,060 | €16,060 | = |
| Other1109/19 | - | - | €14,200 | €16,060 | €16,060 | = |
| Reserves13 | €4,860 | €7,860 | €17,860 | €41,000 | €83,000 | ▲ 102% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | €6,000 | €16,000 | €41,000 | €83,000 | ▲ 102% |
| Profit (loss) carried forward14 | €1,060 | €1,388 | €1,589 | €2,695 | €3,159 | ▲ 17.2% |
| Amounts payable17/49 | €286,557 | €276,263 | €217,614 | €217,325 | €183,080 | ▼ 15.8% |
| Amounts payable after more than one year17 | €110,688 | €118,575 | €68,475 | €37,408 | €34,511 | ▼ 7.7% |
| Financial debts170/4 | - | €118,575 | €68,475 | €37,408 | €34,511 | ▼ 7.7% |
| Amounts payable within one year42/48 | €175,566 | €157,584 | €148,653 | €179,431 | €148,570 | ▼ 17.2% |
| Current portion of amounts payable after more than one year42 | - | €64,498 | €51,875 | €31,067 | €31,575 | ▲ 1.6% |
| Trade debts44 | €27,688 | €10,864 | €21,059 | €40,527 | €38,981 | ▼ 3.8% |
| Suppliers440/4 | - | €10,864 | €21,059 | €40,527 | €38,981 | ▼ 3.8% |
| Taxes, remuneration and social security45 | - | €36,139 | €48,750 | €70,952 | €57,455 | ▼ 19.0% |
| Taxes450/3 | - | €8,124 | €16,898 | €26,866 | €31,347 | ▲ 16.7% |
| Remuneration and social security454/9 | - | €28,015 | €31,853 | €44,086 | €26,108 | ▼ 40.8% |
| Other amounts payable47/48 | - | €46,083 | €26,968 | €36,884 | €20,559 | ▼ 44.3% |
| Accrued charges and deferred income492/3 | - | €105 | €486 | €486 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €38,967 | €3,328 | €10,201 | €26,105 | €42,464 | ▲ 62.7% |
| + Depreciation and write-downs630 | €55,777 | €53,777 | €63,654 | €52,230 | €36,298 | ▼ 30.5% |
| Operating cash flow (approximation) | €94,744 | €57,105 | €73,856 | €78,336 | €78,762 | ▲ 0.5% |
| Investment in fixed assets (approximation) | - | -€67,381 | -€5,161 | -€3,824 | -€43,215 | ▼ 1,030% |
| Change in cash | - | -€3,504 | -€9,595 | €38,141 | -€14,518 | ▼ 138% |
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
07-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 66 days late
2025
30-06
Financial
Equity above €100,000Eq €102,219 ▲71.1%
7 profitable years in a row build equity to €102,219.
21-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 21 days late
2024
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
29-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Weakest financial yearnet €3,328 ▼91.5%
Net result drops to €3,328, the lowest in the series; recovery starts the following year.
15-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 15 days late
2021
26-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
30-06
Financial
Highest result since 2019net €71,602 ▲294%
Operating result €82,383, net result €71,602, both a record.
2019
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
30-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
20-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
02-11
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 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Vilvoorde · 1 establishment unit since 2004
Ground area
158 m²
Building footprint
158 m²
Volume, LiDAR
875 m³
Parcel 23643G0472/00W002, Flanders · tallest building 11.6 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
BAKKERIJ TIMAYA
since 20042.137.624.335
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23643G0472/00W002 | Flanders | 158 m² | 1 · 158 m² | 11.6 m · 1 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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 4 entries · 3,135 EUR awarded · 3,135 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 2 | 635 EUR | 635 EUR |
| 2022 | 2 | 2,500 EUR | 2,500 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 siteVilvoorde2.137.624.335
Dual-learning approval
6 live approvals · 3 endedBakkerijtechnieken duaal (so)
Brood- en banketbakkerij duaal (so)
Chocoladebewerker (vwo)
Chocolatier duaal (so)
Medewerker (banket)bakkerij duaal (so)
Medewerker bakkerij (vwo)
Show 3 ended approvals
Banketbakker (so)
Brood- en banketbakker (so)
Brood- en banketbakkerij duaal (so)
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Of 4,228 companies in sector 10712 we hold annual accounts for 1,874. 1,600 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
Founded28-05-2004
Fiscal year end30-06
Activities, NACEBEL 2025
10712Artisanal bread and fresh pastry making
47221Retail sale of meat and meat products, excluding game and poultry
47241Retail sale of bread and pastry (bakery outlets)
Contact
E-mail
bartdenbakker@timaya.beVilvoorde
E-invoicing
Reachable via Peppol
Peppol ID
0208:0865525555
Also
9925:BE0865525555
Registered
31-05-2024
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.