TIME WALKER
Open bankruptcyFrom the official registers: KBO 25 annual accounts at the National Bank publications in the Belgian Official Gazette
Financials · financial year 2025, micro format
2025 annual accounts filed 27 days after the deadline Filed on 27 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00433570.
Latest annual accounts filed
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 27-08-2026
- Format
- micro format
- Reference
- 2026-00433570
Turnover
≈ €130,000
Estimated: probably between €100,000 and €170,000
Total assets
€498,781▲ 160%
2024 · €192,194
Net result
-€650
2024 · €22,989
Working capital
-€96,366
2024 · €6,525
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 82% lower than in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Operating result€4,902
2025
Net result-€650
2025
Assets, equity and debt per financial year.
Total assets€498,781
2025
Equity€59,275
2025
Debt€439,506
2025
Above zero, the company can pay its short-term debts with what it holds in the short term.
Working capital-€96,366
2025
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
Return on assets (ROA)-0.1%
2025
The higher the solvency, the better the company absorbs a setback.
Solvency11.9%
2025
A ratio above 1 means the short-term assets cover the short-term debts.
Current ratio0.62
2025
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€5,002-€3,833€15,686▲ 309%€42,019▲ 168%€14,330▼ 65.9%-€16,355€27,195€4,902▼ 82.0%
Net result-€6,515-€916€12,428within the sector's middle half▲ 14×€38,725above the sector's middle half▲ 212%€11,014within the sector's middle half▼ 71.6%-€16,638below the sector's middle half€22,989within the sector's middle half-€650below the sector's middle half
Equity€30,491-€31,407▲ 3.0%€43,835within the sector's middle half▲ 39.6%€62,560within the sector's middle half▲ 42.7%€65,574within the sector's middle half▲ 4.8%€48,936within the sector's middle half▼ 25.4%€59,925within the sector's middle half▲ 22.5%€59,275within the sector's middle half▼ 1.1%
Total assets€100,022-€169,748▲ 69.7%€236,645within the sector's middle half▲ 39.4%€160,969within the sector's middle half▼ 32.0%€174,581within the sector's middle half▲ 8.5%€124,900within the sector's middle half▼ 28.5%€192,194within the sector's middle half▲ 53.9%€498,781above the sector's middle half▲ 160%
Debt€69,531-€138,341▲ 99.0%€192,810▲ 39.4%€98,409▼ 49.0%€109,007▲ 10.8%€75,964▼ 30.3%€132,269▲ 74.1%€439,506▲ 232%
Working capital-€11,919--€6,118▲ 48.7%€25,214within the sector's middle half€28,601within the sector's middle half▲ 13.4%€27,382within the sector's middle half▼ 4.3%€18,137within the sector's middle half▼ 33.8%€6,525within the sector's middle half▼ 64.0%-€96,366below the sector's middle half
Solvency30.5%-18.5%▼ 12.0pp18.5%within the sector's middle half=38.9%within the sector's middle half▲ 20.3pp37.6%within the sector's middle half▼ 1.3pp39.2%within the sector's middle half▲ 1.6pp31.2%within the sector's middle half▼ 8.0pp11.9%below the sector's middle half▼ 19.3pp
Current ratio0.80-0.95▲ 0.161.14within the sector's middle half▲ 0.181.30within the sector's middle half▲ 0.171.25within the sector's middle half▼ 0.051.24within the sector's middle half▼ 0.011.05within the sector's middle half▼ 0.180.62below the sector's middle half▼ 0.43
Return on assets (ROA)-6.5%-0.5%▲ 7.1pp5.3%within the sector's middle half▲ 4.7pp24.1%above the sector's middle half▲ 18.8pp6.3%within the sector's middle half▼ 17.7pp-13.3%below the sector's middle half▼ 19.6pp12.0%within the sector's middle half▲ 25.3pp-0.1%below the sector's middle half▼ 12.1pp
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €498,781
Fixed assets
€339,599 ▲ 423%
Current assets
€159,182 ▲ 25.1%
Equity and liabilities €498,781
Equity
€59,275 ▼ 1.1%
Debt
€439,506 ▲ 232%
Debt's share of the balance-sheet total rises from 68.8% to 88.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€60,577▲
2024 · €40,269
Cash flow
€55,026▲
2024 · €36,062
Quick ratio
0.40▼
2024 · 1.00
Debt to equity
7.41▲
2024 · 2.21
ROE
-1.1%▼
2024 · 38.4%
Interest coverage
14.09▼
2024 · 36.35
Debt ≤ 1 year
€255,548▲
2024 · €120,733
Debt > 1 year
€183,551▲
2024 · €11,537
Income taxes
€1,252▼
2024 · €3,553
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,626 | €18,119 | €15,491 | €7,104 | €9,103 | €10,569 | €13,074 | €55,676 | ▲ 326% |
| Other operating charges640/8 | - | - | - | €6,475 | €845 | €1,698 | €1,091 | €1,618 | ▲ 48.4% |
| Gross operating margin9900 | €14,545 | €23,208 | €32,251 | €55,598 | €24,278 | -€4,088 | €41,359 | €62,195 | ▲ 50.4% |
| Operating profit (loss)9901 | -€5,002 | €3,833 | €15,686 | €42,019 | €14,330 | -€16,355 | €27,195 | €4,902 | ▼ 82.0% |
| Financial income75/76B | - | - | - | €454 | €454 | €454 | €454 | €1 | ▼ 99.8% |
| Recurring financial income75 | €291 | €383 | €454 | €454 | €454 | €454 | €454 | €1 | ▼ 99.8% |
| Financial charges65/66B | - | - | - | €611 | €768 | €737 | €1,108 | €4,300 | ▲ 288% |
| Recurring financial charges65 | €1,407 | €1,205 | €966 | €611 | €768 | €737 | €1,108 | €4,300 | ▲ 288% |
| Profit (loss) for the period before taxes9903 | -€6,118 | €3,011 | €15,174 | €41,862 | €14,016 | -€16,638 | €26,542 | €602 | ▼ 97.7% |
| Income taxes67/77 | €397 | €2,095 | €2,746 | €3,137 | €3,002 | €0 | €3,553 | €1,252 | ▼ 64.8% |
| Profit (loss) for the period9904 | -€6,515 | €916 | €12,428 | €38,725 | €11,014 | -€16,638 | €22,989 | -€650 | - |
| Profit (loss) for the period to be appropriated9905 | -€6,515 | €916 | €12,428 | €38,725 | €11,014 | -€16,638 | €22,989 | -€650 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €100,022 | €169,748 | €236,645 | €160,969 | €174,581 | €124,900 | €192,194 | €498,781 | ▲ 160% |
| Fixed assets21/28 | €53,504 | €40,329 | €27,466 | €37,683 | €38,192 | €30,800 | €64,937 | €339,599 | ▲ 423% |
| Tangible fixed assets22/27 | €51,022 | €37,847 | €24,984 | €35,201 | €35,847 | €28,455 | €62,592 | €337,254 | ▲ 439% |
| Land and buildings22 | - | - | - | - | - | - | - | €249,422 | - |
| Furniture and vehicles24 | - | - | - | €31,085 | €25,835 | €18,593 | €52,544 | €79,522 | ▲ 51.3% |
| Other tangible fixed assets26 | - | - | - | €4,116 | €10,012 | €9,862 | €10,048 | €8,309 | ▼ 17.3% |
| Financial fixed assets28 | €2,482 | €2,482 | €2,482 | €2,482 | €2,345 | €2,345 | €2,345 | €2,345 | = |
| Current assets29/58 | €46,518 | €129,419 | €209,179 | €123,286 | €136,389 | €94,101 | €127,257 | €159,182 | ▲ 25.1% |
| Amounts receivable after more than one year29 | - | - | - | €17,500 | €17,500 | €17,500 | €17,500 | €0 | ▼ 100% |
| Other amounts receivable291 | - | - | - | €17,500 | €17,500 | €17,500 | €17,500 | €0 | ▼ 100% |
| Stocks and contracts in progress3 | - | - | - | - | - | - | €6,157 | €56,116 | ▲ 811% |
| Stocks30/36 | - | - | - | - | - | - | €6,157 | €36,116 | ▲ 487% |
| Contracts in progress37 | - | - | - | - | - | - | - | €20,000 | - |
| Amounts receivable within one year40/41 | €35,676 | €102,103 | €146,629 | €43,280 | €92,214 | €63,953 | €29,398 | €36,327 | ▲ 23.6% |
| Trade receivables40 | - | - | - | €41,558 | €90,489 | €56,262 | €29,172 | €28,841 | ▼ 1.1% |
| Other amounts receivable41 | - | - | - | €1,722 | €1,725 | €7,691 | €226 | €7,486 | ▲ 33× |
| Current investments50/53 | €7,125 | €7,125 | €7,125 | €7,125 | €7,125 | €7,125 | €7,125 | €7,125 | = |
| Cash at bank and in hand54/58 | €2,883 | €15,800 | €34,315 | €52,879 | €17,822 | €4,668 | €65,883 | €56,392 | ▼ 14.4% |
| Deferred charges and accrued income490/1 | - | - | - | €2,502 | €1,728 | €854 | €1,194 | €3,222 | ▲ 170% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €100,022 | €169,748 | €236,645 | €160,969 | €174,581 | €124,900 | €192,194 | €498,781 | ▲ 160% |
| Equity10/15 | €30,491 | €31,407 | €43,835 | €62,560 | €65,574 | €48,936 | €59,925 | €59,275 | ▼ 1.1% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €12,849 | €12,849 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | - | - | - | €10,989 | €10,989 | = |
| Profit (loss) carried forward14 | €10,031 | €10,947 | €23,375 | €42,100 | €45,114 | €28,476 | €28,476 | €27,826 | ▼ 2.3% |
| Amounts payable17/49 | €69,531 | €138,341 | €192,810 | €98,409 | €109,007 | €75,964 | €132,269 | €439,506 | ▲ 232% |
| Amounts payable after more than one year17 | €11,094 | €2,804 | €8,845 | €3,724 | - | - | €11,537 | €183,551 | ▲ 16× |
| Financial debts170/4 | - | - | - | €3,724 | - | - | €11,537 | €183,551 | ▲ 16× |
| Amounts payable within one year42/48 | €58,437 | €135,537 | €183,965 | €94,685 | €109,007 | €75,964 | €120,733 | €255,548 | ▲ 112% |
| Current portion of amounts payable after more than one year42 | - | - | - | €5,121 | €3,824 | €0 | €6,409 | €23,819 | ▲ 272% |
| Financial debts43 | - | - | - | - | - | - | - | €50,000 | - |
| Other loans439 | - | - | - | - | - | - | - | €50,000 | - |
| Trade debts44 | €24,871 | €19,988 | €10,452 | €51,255 | €62,348 | €56,117 | €90,902 | €129,096 | ▲ 42.0% |
| Suppliers440/4 | - | - | - | €51,255 | €62,348 | €56,117 | €90,902 | €129,096 | ▲ 42.0% |
| Taxes, remuneration and social security45 | - | - | - | €9,681 | €5,488 | €0 | €10,948 | €8,394 | ▼ 23.3% |
| Taxes450/3 | - | - | - | €9,681 | €5,488 | €0 | €10,948 | €8,394 | ▼ 23.3% |
| Other amounts payable47/48 | - | - | - | €28,628 | €37,347 | €19,847 | €12,473 | €44,238 | ▲ 255% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €407 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,515 | €916 | €12,428 | €38,725 | €11,014 | -€16,638 | €22,989 | -€650 | - |
| + Depreciation and write-downs630 | €18,626 | €18,119 | €15,491 | €7,104 | €9,103 | €10,569 | €13,074 | €55,676 | ▲ 326% |
| Operating cash flow (approximation) | €12,111 | €19,035 | €27,919 | €45,829 | €20,117 | -€6,069 | €36,062 | €55,026 | ▲ 52.6% |
| Investment in fixed assets (approximation) | - | -€4,944 | -€2,628 | -€17,321 | -€9,612 | -€3,177 | -€47,211 | -€330,338 | ▼ 600% |
| Change in cash | - | €12,917 | €18,515 | €18,564 | -€35,057 | -€13,154 | €61,215 | -€9,491 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 27-08-2026 | 2026-00433570 | NBB |
| 31-12-2024 | micro format | 14-04-2025 | 2025-00068860 | |
| 31-12-2023 | micro format | 28-08-2024 | 2024-00382664 | |
| 31-12-2022 | micro format | 28-08-2023 | 2023-00359250 | |
| 31-12-2021 | micro format | 04-08-2022 | 2022-20268236 | |
| 31-12-2020 | micro format | 30-09-2021 | 2021-70300426 | |
| 31-12-2019 | micro format | 17-07-2020 | 2020-31400252 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-57600578 | |
| 31-12-2017 | micro format | 22-08-2018 | 2018-49800275 | |
| 31-12-2016 | micro format | 17-08-2017 | 2017-43900553 |
Comparable companies
These companies have the same main activity as TIME WALKER: organisation of conventions and trade shows (NACE 82300). They are comparable in size and age: total assets between €376,000 and €495,000, founded between 1996 and 2005.
| Company | Founded | Total assets | Equity | Gross margin | Turnover | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|---|
| TIME WALKER Elsene | 2000 | €498,781 | €59,275 | €62,195 | - | -€650 | - | 2025 |
| ZOOT Hasselt | 2000 | €414,311 | €310,277 | €67,034 | - | €38,345 | 0 | 2025 |
| FASTEN SEAT BELTS Linkebeek | 1999 | €429,771 | €244,933 | €78,022 | - | €30,016 | - | 2025 |
| events and management company Eghezée | 2002 | €399,586 | €271,821 | €71,598 | - | €24,662 | - | 2025 |
| MANIANA Elsene | 1996 | €402,821 | €102,207 | €36,349 | - | -€20,120 | - | 2025 |
| GALERIE ALBERT BARONIAN Elsene | 2002 | €375,540 | €160,128 | €30,687 | - | -€9,634 | - | 2025 |
| ProFusion Schaarbeek | 2005 | €494,504 | €264,599 | €65,442 | €187,826 | €145 | - | 2025 |
They were chosen from the 1,757 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.