TIMCO
ActiveSummary
TIMCO has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €134,961 and a net result of €3,673. Equity is growing by ~31.3% per year across the filed fiscal years. Its solvency ranks better than 43% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability70▼-6
Solvency66▼-7
Growth78=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity ample (current ratio 1.58 against 1.77 in 2024; short-term debt: 55.5% and cash: 22.3% of total assets), but 59.4% of the assets are financed with debt.
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Signals
Three 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
40.6%
Return on assets
1.1%
Age of the figures
15 mo
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 23-02-2026, 23 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 7 filingsDeviation from the deadline
2025
23 d late
2024
2 d early
2023
7 d early
2022
10 d early
2021
4 d early
2020
2 d early
2019
14 d late
← 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 2 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€134,961▼ 11.4%
2024 · €152,288
Total assets
€332,686▲ 3.8%
2024 · €320,488
Net result
€3,673▼ 80.9%
2024 · €19,224
Working capital
€106,650▼ 7.1%
2024 · €114,793
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
Line20212022202320242025
Operating result€40,314▼ 43.3%€21,710▼ 46.1%€67,476▲ 211%€30,352▼ 55.0%€9,023▼ 70.3%
Net result€26,718▼ 45.7%€17,434▼ 34.7%€50,162▲ 188%€19,224▼ 61.7%€3,673▼ 80.9%
Equity€65,469▲ 11.4%€82,902▲ 26.6%€133,065▲ 60.5%€152,288▲ 14.4%€134,961▼ 11.4%
Total assets€189,867▼ 13.2%€205,626▲ 8.3%€304,060▲ 47.9%€320,488▲ 5.4%€332,686▲ 3.8%
Debt€124,399▼ 22.3%€122,724▼ 1.3%€170,996▲ 39.3%€168,200▼ 1.6%€197,725▲ 17.6%
Working capital€40,716▼ 38.0%€63,543▲ 56.1%€100,458▲ 58.1%€114,793▲ 14.3%€106,650▼ 7.1%
Staff (FTE)11.8▲ 80.0%2.5▲ 38.9%1.6▼ 36.0%2.6▲ 62.5%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 70% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €332,686
Fixed assets
€41,486 ▼ 26.4%
Current assets
€291,200 ▲ 10.2%
Equity and liabilities €332,686
Equity
€134,961 ▼ 11.4%
Debt
€197,725 ▲ 17.6%
Debt's share of the balance-sheet total rises from 52.5% to 59.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€27,982▼
2024 · €53,226
Cash flow
€22,632▼
2024 · €42,097
Current ratio
1.58▼
2024 · 1.77
Quick ratio
1.24▲
2024 · 1.15
Debt to equity
1.47▲
2024 · 1.10
ROE
2.7%▼
2024 · 12.6%
ROA
1.1%▼
2024 · 6.0%
Interest coverage
18.80▼
2024 · 22.40
Debt ≤ 1 year
€184,550▲
2024 · €149,360
Debt > 1 year
€13,174▼
2024 · €18,840
Income taxes
€3,886▼
2024 · €9,358
Staff costs
€148,199▲
2024 · €79,121
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,047 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 94% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
2.0%
went bankrupt
3.7%
stopped otherwise
94%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% 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 497,058 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% | 1.6% |
| 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 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 5,047 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 | - | €7,500 | - | €5,851 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | €77,572 | €61,417 | €79,121 | €148,199 | ▲ 87.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,788 | €21,238 | €24,483 | €22,873 | €18,959 | ▼ 17.1% |
| Other operating charges640/8 | - | €1,476 | €3,840 | €1,011 | €1,795 | ▲ 77.6% |
| Gross operating margin9900 | €95,040 | €121,996 | €157,216 | €133,357 | €177,976 | ▲ 33.5% |
| Operating profit (loss)9901 | €40,314 | €21,710 | €67,476 | €30,352 | €9,023 | ▼ 70.3% |
| Financial income75/76B | - | €1,259 | €213 | €605 | €24 | ▼ 96.0% |
| Recurring financial income75 | €3,819 | €1,259 | €213 | €605 | €24 | ▼ 96.0% |
| Financial charges65/66B | - | €1,512 | €1,191 | €2,376 | €1,489 | ▼ 37.3% |
| Recurring financial charges65 | €1,816 | €1,512 | €1,191 | €2,376 | €1,489 | ▼ 37.3% |
| Profit (loss) for the period before taxes9903 | €39,141 | €21,457 | €66,498 | €28,581 | €7,558 | ▼ 73.6% |
| Income taxes67/77 | €12,423 | €4,023 | €16,336 | €9,358 | €3,886 | ▼ 58.5% |
| Profit (loss) for the period9904 | €26,718 | €17,434 | €50,162 | €19,224 | €3,673 | ▼ 80.9% |
| Profit (loss) for the period to be appropriated9905 | €26,718 | €17,434 | €50,162 | €19,224 | €3,673 | ▼ 80.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €189,867 | €205,626 | €304,060 | €320,488 | €332,686 | ▲ 3.8% |
| Formation expenses20 | €279 | €56 | - | - | - | - |
| Fixed assets21/28 | €50,185 | €34,389 | €63,110 | €56,336 | €41,486 | ▼ 26.4% |
| Intangible fixed assets21 | €1,646 | €636 | €126 | - | - | - |
| Tangible fixed assets22/27 | €48,539 | €33,753 | €62,984 | €56,336 | €40,915 | ▼ 27.4% |
| Plant, machinery and equipment23 | - | €14,022 | €18,637 | €22,012 | €15,581 | ▼ 29.2% |
| Furniture and vehicles24 | - | €4,361 | €2,750 | €8,177 | €7,442 | ▼ 9.0% |
| Leasing and similar rights25 | - | €15,369 | €41,597 | €26,147 | €17,892 | ▼ 31.6% |
| Financial fixed assets28 | - | - | - | - | €571 | - |
| Current assets29/58 | €139,403 | €171,182 | €240,950 | €264,153 | €291,200 | ▲ 10.2% |
| Stocks and contracts in progress3 | €27,900 | €57,125 | €59,375 | €92,648 | €61,574 | ▼ 33.5% |
| Stocks30/36 | - | €57,125 | €59,375 | €92,648 | €61,574 | ▼ 33.5% |
| Amounts receivable within one year40/41 | €78,192 | €63,907 | €54,524 | €80,498 | €150,102 | ▲ 86.5% |
| Trade receivables40 | - | €56,666 | €43,093 | €64,332 | €134,932 | ▲ 110% |
| Other amounts receivable41 | - | €7,241 | €11,431 | €16,166 | €15,171 | ▼ 6.2% |
| Cash at bank and in hand54/58 | €25,843 | €44,988 | €116,997 | €81,130 | €74,202 | ▼ 8.5% |
| Deferred charges and accrued income490/1 | - | €5,162 | €10,054 | €9,877 | €5,322 | ▼ 46.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €189,867 | €205,626 | €304,060 | €320,488 | €332,686 | ▲ 3.8% |
| Equity10/15 | €65,469 | €82,902 | €133,065 | €152,288 | €134,961 | ▼ 11.4% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €620 | €620 | €620 | €620 | €128,761 | ▲ 20,668% |
| Non-distributable reserves130/1 | - | €620 | €620 | €620 | €620 | = |
| Reserves not available under the articles1311 | - | €620 | €620 | €620 | €620 | = |
| Distributable reserves133 | - | - | - | - | €128,141 | - |
| Profit (loss) carried forward14 | €58,649 | €76,082 | €126,245 | €145,468 | €0 | ▼ 100% |
| Amounts payable17/49 | €124,399 | €122,724 | €170,996 | €168,200 | €197,725 | ▲ 17.6% |
| Amounts payable after more than one year17 | €24,534 | €15,085 | €30,504 | €18,840 | €13,174 | ▼ 30.1% |
| Financial debts170/4 | - | €15,085 | €30,504 | €18,840 | €13,174 | ▼ 30.1% |
| Amounts payable within one year42/48 | €98,687 | €107,639 | €140,492 | €149,360 | €184,550 | ▲ 23.6% |
| Current portion of amounts payable after more than one year42 | - | €9,449 | €12,455 | €14,799 | €5,666 | ▼ 61.7% |
| Trade debts44 | €49,694 | €88,856 | €119,707 | €126,972 | €143,648 | ▲ 13.1% |
| Suppliers440/4 | - | €88,856 | €119,707 | €126,972 | €143,648 | ▲ 13.1% |
| Advances received on contracts in progress46 | - | €1,552 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €7,783 | €8,330 | €7,588 | €23,316 | ▲ 207% |
| Taxes450/3 | - | €1,198 | €6,698 | €198 | €7,069 | ▲ 3,462% |
| Remuneration and social security454/9 | - | €6,585 | €1,632 | €7,390 | €16,246 | ▲ 120% |
| Other amounts payable47/48 | - | - | - | - | €11,921 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €26,718 | €17,434 | €50,162 | €19,224 | €3,673 | ▼ 80.9% |
| + Depreciation and write-downs630 | €19,788 | €21,238 | €24,483 | €22,873 | €18,959 | ▼ 17.1% |
| Operating cash flow (approximation) | €46,505 | €38,672 | €74,645 | €42,097 | €22,632 | ▼ 46.2% |
| Investment in fixed assets (approximation) | - | -€5,442 | -€53,204 | -€16,098 | -€4,109 | ▲ 74.5% |
| Change in cash | - | €19,145 | €72,009 | -€35,867 | -€6,928 | ▲ 80.7% |
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
23-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 23 days late
2025
29-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-06
Financial
Equity above €150,000Eq €152,288 ▲14.4%
6 profitable years in a row build equity to €152,288.
24-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-06
Financial
Highest result since 2019net €50,162 ▲188%
Net result €50,162, the highest in the series.
30-06
Financial
Equity above €100,000Eq €133,065 ▲60.5%
5 profitable years in a row build equity to €133,065.
21-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
27-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
14-02
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 14 days late
Financial 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.
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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, Rotselaar · 1 establishment unit since 2017
Ground area
619 m²
Building footprint
143 m²
Volume, LiDAR
723 m³
Parcel 24094B0985/00C002, Flanders · tallest building 7.1 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
TIMCO-AIR
since 20172.270.244.814
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24094B0985/00C002 | Flanders | 619 m² | 1 · 143 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.
Structure & network
Owners and holdings
1 ownerOwners 1
- Tim Vroomnatural personSourceown accounts 30-06-2024100%
Holdings 0
The accounts to 30-06-2024 list no holdings, and no other source names one.
According to the annual accounts to 30-06-2024 of TIMCO and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 7 entries · 34,478 EUR awarded · 34,478 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 10,729 EUR | 10,729 EUR |
| 2024 | 2 | 8,290 EUR | 8,290 EUR |
| 2023 | 1 | 6,180 EUR | 6,180 EUR |
| 2022 | 2 | 9,279 EUR | 9,279 EUR |
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ETS DELNOOZ
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Of 9,536 companies in sector 43222 we hold annual accounts for 5,667. 4,918 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
Founded30-10-2017
Fiscal year end30-06
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
33110Repair and maintenance of fabricated metal products
43211General electrical installation work
43240Other construction installation
47552Retail sale of lighting equipment
70200Business and other management consultancy
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0683834162
Also
9925:BE0683834162
Registered
09-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.