TIME GOLD
ActiveSummary
The computed 12-month bankruptcy probability of TIME GOLD is 2.0% (moderate). The 2025 annual accounts show negative equity (€-82k) and a net result of €6k. Equity is shrinking by ~24.8% per year across the filed fiscal years. Its solvency ranks better than 5% of 4522 sector peers (fiscal year 2025). The company has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability99▲+75
Solvency0=
Growth38▲+6
Track record100
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.09 against 0.28 in 2024; short-term debt: 593.9% and cash: 38.9% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Six 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 81
Relative position
BE, all sectors
reference
Services to buildings and landscape activities (NACE 81)
about 79% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2025Solvency, return and age of the figures
Solvency
-560.4%
Return on assets
39%
Age of the figures
9 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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 4522 sector peers (2025).
NBB · sector comparisonPosition among 4522 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-06-2026, 52 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
52 d early
2024
83 d late
2023
41 d early
2022
52 d late
2021
66 d late
2020
29 d early
2019
2 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€97k▼ 48.3%
2024 · €187k
2024: €187k
2025: €97k▼ -48.3% vs 2024
2024 → 2025
EBIT margin
6.7%▲ 11.1pp
2024 · -4.4%
2024: -4.4%
2025: 6.7%▲ +252% vs 2024
2024 → 2025
Net result
€6k
2024 · €-11k
2018: €5k
2019: €1k▼ -68.9% vs 2018
2020: €11k▲ +631% vs 2019highest in 8 years
2021: €-127k▼ -1277% vs 2020lowest in 8 years
2022: €-9k▲ +92.8% vs 2021
2023: €6k▲ +168% vs 2022
2024: €-11k▼ -279% vs 2023
2025: €6k▲ +151% vs 2024
2018 → 2025
Working capital
€-79k▲ 7.0%
2024 · €-85k
2018: €10k
2019: €24k▲ +142% vs 2018
2020: €32k▲ +31.7% vs 2019highest in 8 years
2021: €-91k▼ -388% vs 2020
2022: €-104k▼ -14.0% vs 2021lowest in 8 years
2023: €-85k▲ +17.8% vs 2022
2024: €-85k▲ +0.4% vs 2023
2025: €-79k▲ +7.0% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€187k€97k▼ 48.3%
2024: €187k
2025: €97k▼ -48.3% vs 2024
Equity€-73k-€-83k▼ 12.4%€-76k▲ 7.5%€-88k▼ 14.5%€-82k▲ 6.5%
2021: €-73khighest in 5 years
2022: €-83k▼ -12.4% vs 2021
2023: €-76k▲ +7.5% vs 2022
2024: €-88k▼ -14.5% vs 2023lowest in 5 years
2025: €-82k▲ +6.5% vs 2024
Operating result€5k-€-5k€8k€-8k€6k
2021: €5k
2022: €-5k▼ -196% vs 2021
2023: €8k▲ +263% vs 2022highest in 5 years
2024: €-8k▼ -210% vs 2023lowest in 5 years
2025: €6k▲ +178% vs 2024
Net result€-127k-€-9k▲ 92.8%€6k€-11k€6k
2021: €-127klowest in 5 years
2022: €-9k▲ +92.8% vs 2021
2023: €6k▲ +168% vs 2022highest in 5 years
2024: €-11k▼ -279% vs 2023
2025: €6k▲ +151% vs 2024
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €6k after a loss of €8k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €15k
Fixed assets
€7k ▼ 40.6%
Current assets
€8k ▼ 76.2%
Key figures and ratios
EBITDA
€18k▲
2024 · €4k
Cash flow
€18k▲
2024 · €1k
Solvency
-560.4%▼
2024 · -196.2%
Current ratio
0.09▼
2024 · 0.28
Debt to equity
-1.18▲
2024 · -1.51
ROA
39.0%▲
2024 · -24.9%
Interest coverage
27.02▲
2024 · 2.60
Debt
€96k▼
2024 · €132k
Debt ≤ 1 year
€87k▼
2024 · €118k
Income taxes
€3k▲
2024 · €1k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 52 lines
Balance sheet
Code20242025
Assets
Total assets20/58€45k€15k▼
Fixed assets21/28€11k€7k▼
Tangible fixed assets22/27€11k€6k▼
Plant, machinery and equipment23-€4k
Furniture and vehicles24€1k€3k▲
Leasing and similar rights25€10k-
Financial fixed assets28€344€344=
Current assets29/58€33k€8k▼
Amounts receivable within one year40/41€28k€2k▼
Trade receivables40€26k-
Other amounts receivable41€2k€2k▲
Cash at bank and in hand54/58€5k€6k▲
Equity and liabilities
Total equity and liabilities10/49€45k€15k▼
Equity10/15€-88k€-82k▲
Contributions10/11€19k€19k=
Capital10€19k€19k=
Issued capital100€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k€2k=
Profit (loss) carried forward14€-108k€-102k▲
Amounts payable17/49€132k€96k▼
Amounts payable after more than one year17€4k-
Financial debts170/4€4k-
Amounts payable within one year42/48€118k€87k▼
Current portion of amounts payable after more than one year42€15k-
Financial debts43€2k€2k=
Credit institutions430/8€2k€2k=
Trade debts44€54k€7k▼
Suppliers440/4€54k€7k▼
Taxes, remuneration and social security45€21k€6k▼
Taxes450/3€12k€6k▼
Remuneration and social security454/9€9k-
Other amounts payable47/48€25k€71k▲
Accrued charges and deferred income492/3€10k€10k=
Income statement
Code20242025
Turnover70€187k€97k▼
Goods, raw materials, services and sundry goods60/61€159k€76k▼
Remuneration, social security and pensions62€18k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€12k▼
Other operating charges640/8€6k€3k▼
Gross operating margin9900€28k€21k▼
Operating profit (loss)9901€-8k€6k▲
Financial income75/76B€77€2k▲
Recurring financial income75€77€2k▲
Financial charges65/66B€2k€685▼
Recurring financial charges65€2k€685▼
Profit (loss) for the period before taxes9903€-10k€8k▲
Income taxes67/77€1k€3k▲
Profit (loss) for the period9904€-11k€6k▲
Profit (loss) for the period to be appropriated9905€-11k€6k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-108k€-102k▲
Profit (loss) brought forward from the previous period14P€-97k€-108k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €187k | €97k | ▼ 48.3% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €159k | €76k | ▼ 52.4% |
| Remuneration, social security and pensions62 | €50k | €67k | €43k | €18k | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19k | €12k | €12k | €12k | €12k | ▼ 2.4% |
| Other operating charges640/8 | €2k | €13k | €2k | €6k | €3k | ▼ 53.3% |
| Gross operating margin9900 | €77k | €88k | €65k | €28k | €21k | ▼ 24.5% |
| Operating profit (loss)9901 | €5k | €-5k | €8k | €-8k | €6k | ▲ 178% |
| Financial income75/76B | - | - | - | €77 | €2k | ▲ 3,020% |
| Recurring financial income75 | - | - | - | €77 | €2k | ▲ 3,020% |
| Financial charges65/66B | €3k | €5k | €1k | €2k | €685 | ▼ 55.7% |
| Recurring financial charges65 | €3k | €5k | €1k | €2k | €685 | ▼ 55.7% |
| Profit (loss) for the period before taxes9903 | €2k | €-9k | €6k | €-10k | €8k | ▲ 184% |
| Income taxes67/77 | €129k | - | - | €1k | €3k | ▲ 84.7% |
| Profit (loss) for the period9904 | €-127k | €-9k | €6k | €-11k | €6k | ▲ 151% |
| Profit (loss) for the period to be appropriated9905 | €-127k | €-9k | €6k | €-11k | €6k | ▲ 151% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €134k | €45k | €33k | €45k | €15k | ▼ 67.3% |
| Fixed assets21/28 | €47k | €34k | €22k | €11k | €7k | ▼ 40.6% |
| Tangible fixed assets22/27 | €47k | €34k | €22k | €11k | €6k | ▼ 41.9% |
| Plant, machinery and equipment23 | - | - | - | - | €4k | - |
| Furniture and vehicles24 | - | - | - | €1k | €3k | ▲ 155% |
| Leasing and similar rights25 | €47k | €34k | €22k | €10k | - | - |
| Financial fixed assets28 | €59 | €59 | €59 | €344 | €344 | = |
| Current assets29/58 | €87k | €11k | €11k | €33k | €8k | ▼ 76.2% |
| Amounts receivable within one year40/41 | €68k | €3k | €3k | €28k | €2k | ▼ 92.0% |
| Trade receivables40 | €68k | €3k | €3k | €26k | - | - |
| Other amounts receivable41 | - | - | - | €2k | €2k | ▲ 10.5% |
| Cash at bank and in hand54/58 | €20k | €8k | €8k | €5k | €6k | ▲ 9.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €134k | €45k | €33k | €45k | €15k | ▼ 67.3% |
| Equity10/15 | €-73k | €-83k | €-76k | €-88k | €-82k | ▲ 6.5% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Capital10 | €19k | - | €19k | €19k | €19k | = |
| Issued capital100 | €19k | - | €19k | €19k | €19k | = |
| Outside capital11 | - | €19k | - | - | - | - |
| Share premium1100/10 | - | €19k | - | - | - | - |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Legal reserve130 | €2k | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €-94k | €-103k | €-97k | €-108k | €-102k | ▲ 5.3% |
| Amounts payable17/49 | €207k | €128k | €110k | €132k | €96k | ▼ 27.0% |
| Amounts payable after more than one year17 | €29k | €13k | €13k | €4k | - | - |
| Financial debts170/4 | €29k | €13k | €13k | €4k | - | - |
| Amounts payable within one year42/48 | €178k | €115k | €96k | €118k | €87k | ▼ 26.6% |
| Current portion of amounts payable after more than one year42 | €15k | €16k | €16k | €15k | - | - |
| Financial debts43 | - | - | - | €2k | €2k | = |
| Credit institutions430/8 | - | - | - | €2k | €2k | = |
| Trade debts44 | €21k | €21k | €25k | €54k | €7k | ▼ 86.6% |
| Suppliers440/4 | €21k | €21k | €25k | €54k | €7k | ▼ 86.6% |
| Taxes, remuneration and social security45 | €122k | €36k | €25k | €21k | €6k | ▼ 72.9% |
| Taxes450/3 | €90k | €36k | €25k | €12k | €6k | ▼ 54.1% |
| Remuneration and social security454/9 | €32k | - | - | €9k | - | - |
| Other amounts payable47/48 | €20k | €41k | €31k | €25k | €71k | ▲ 187% |
| Accrued charges and deferred income492/3 | - | - | - | €10k | €10k | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-127k | €-9k | €6k | €-11k | €6k | ▲ 151% |
| + Depreciation and write-downs630 | €19k | €12k | €12k | €12k | €12k | ▼ 2.4% |
| Operating cash flow (approximation) | €-108k | €3k | €18k | €1k | €18k | ▲ 1,376% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €-1k | €-7k | ▼ 428% |
| Change in cash | - | €-12k | €207 | €-3k | €500 | ▲ 119% |
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
28-07
State Gazette act
Resignation: CALLI Engin (director)Appointment: Gurlek Michael (director) · Share transfer · Director discharge7 facts ▸
State Gazette act
Resignation: CALLI Engin (director)
Appointment: Gurlek Michael (director) · Share transfer · Director discharge7 facts ▸
- General meeting, 22-06-2026
- Share transfer, CALLI Engin → Gurlek Michael
- Share transfer, CALLI Erkan → Gurlek Michael
- Director resignation, CALLI Engin (director)
- Director discharge, CALLI Engin
- Director appointment, Gurlek Michael (director)
- Registered-office move, Rue du Presbytere, 11 à 1080 Bruxelles
09-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €6k
Net result €6k after one loss-making year.
22-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 83 days late
2024
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €6k
Net result €6k after 2 loss-making years.
21-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 52 days late
2022
05-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 66 days late
2021
31-12
Financial
Weakest financial yearnet €-127k
Net result drops to €-127k, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €11k ▲631%
Operating result €12k, net result €11k, both a record.
29-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
08-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 8 days late
2018
13-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
22-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 8 acts read
About the unread acts
Of the 8 Belgian State Gazette acts we know for this company, 1 has been read. The other 7 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Gurlek Michael
CurrentDirector · since 22-06-2026
22-06-2026
Gurlek Michael: Appointed as Director
22-06-2026
CALLI Engin: Resigned as Director
Not every act has been read: a resignation may be missing here
7 of this company's 8 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Sint-Jans-Molenbeek · 1 establishment unit since 2005
Ground area
917 m²
Building footprint
775 m²
Volume, LiDAR
18,500 m³
2 parcels, Brussels · tallest building 34.5 m, ±9 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Time Gold Cleaning & Delivery SPRL
since 20052.144.818.369
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21806F0477/00N017 | Brussels | 685 m² | 1 · 663 m² | 34.5 m · 9 fl. |
| 21522B0236/00Y002 | Brussels | 232 m² | 1 · 112 m² | 19.6 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Capital and shareholders
Shareholders according to the acts
Share transfer
act of 28-07-2026 ↗
- CALLI Engin to Gurlek Michael 93 shares
- CALLI Erkan to Gurlek Michael 93 shares
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
Similar companies · same sector, comparable size
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Of 7,006 companies in sector 81220 we hold annual accounts for 2,414. 2,007 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
Founded01-12-2004
Fiscal year end31-12
Activities, NACEBEL 2025
81220Other building cleaning and industrial cleaning
Scores and ratios are computed by Checked and are not a credit decision.