TIMETOSHAPE
ActiveSummary
TIMETOSHAPE has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €108,393 and a net result of €71,115. Its solvency ranks better than 45% of 39,275 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 05-07-2023 Normal situation
- Activity
- Business and other management consultancy NACE 70200and 2 others
- Establishment unit
- 2.347.471.066 1410 Waterloo, since 05-07-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 23-02-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
Annual accounts 2025
- Gross margin
- €111,023
- ▲ 44.5%
- Turnover
- ≈ €190,000
- estimated
- Profit
- €71,115
- ▲ 97.7%
- Equity
- €108,393
- ▲ 191%
- Total assets
- €214,628
- ▲ 59.6%
- 2025 accounts filed 25 days after the deadline
Score breakdownlowers riskSector: Activities of head offices; management consultancy activities (NACE 70)Liquidity: current ratio 2.33, cash €74,112Size: total assets €214,628Equity €108,393 (50.5% of total assets)Show the evidence
Checked score
Score 2025
97
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 74% of micro companies in head offices and management consultancy (NACE 70)
Financial strength · tick: 2024
Strong
Solvency
76+23
equity 50.5% of total assets
Liquidity
79+35
short-term debt 32.0% · cash 34.5%
Profitability
100=
return on assets 33.1%
Bankruptcy probability within 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.4%
01-2025: 0.4%● unchanged vs 12-2024
02-2025: 0.5%▲ +0.1 percentage points vs 01-2025
03-2025: 0.5%● unchanged vs 02-2025
04-2025: 0.5%● unchanged vs 03-2025
05-2025: 0.5%● unchanged vs 04-2025
06-2025: 0.6%▲ +0.1 percentage points vs 05-2025
07-2025: 0.6%● unchanged vs 06-2025
08-2025: 0.6%● unchanged vs 07-2025highest value
09-2025: 0.6%● unchanged vs 08-2025
10-2025: 0.3%▼ -0.3 percentage points vs 09-2025
11-2025: 0.3%● unchanged vs 10-2025
12-2025: 0.3%● unchanged vs 11-2025
01-2026: 0.3%● unchanged vs 12-2025
02-2026: 0.3%● unchanged vs 01-2026
03-2026: 0.3%● unchanged vs 02-2026
04-2026: 0.3%● unchanged vs 03-2026
05-2026: 0.3%● unchanged vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.3%● unchanged vs 06-2026
08-2026: 0.5%▲ +0.2 percentage points vs 07-2026
09-2026: < 0.1%▼ -0.5 percentage points vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026
11-2026: < 0.1%● unchanged vs 10-2026
Credit of up to €10,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.33 (1.31 in 2024), above the usual 1.5. Short-term debt is 32% and cash 34.5% of total assets. 49.5% of the assets are financed with debt and provisions.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, micro). It does better than 46% of them on solvency, 71% on liquidity, 84% on profitability and 94% on growth.
The bankruptcy probability was computed on 02-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 25 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 2 filingsDeviation from the deadline
2025
25 days late
2024
51 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 38 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsWhere today falls in the filing period
03-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 25 days after the deadline Filed on 25 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00430675.
Annual accounts 2025 filed on 25-08-2026 at the NBB all 2 filings
Turnover
≈ €190,000
Estimated: probably between €160,000 and €220,000
Total assets
€214,628▲ 59.6%
2024 · €134,500
Net result
€71,115▲ 97.7%
2024 · €35,978
Working capital
€91,114▲ 383%
2024 · €18,869
Multi-year overview
2024 to 2025, 2 financial yearsOperating result
€91,447
▲ 47.1%
2025
20242025
Net result
€71,115
▲ 97.7%
2025
highest quarter of the sector
20242025
Equity
€108,393
▲ 191%
2025
middle half of the sector
20242025
Total assets
€214,628
▲ 59.6%
2025
middle half of the sector
20242025
Debt
€106,235
▲ 9.3%
2025
20242025
Working capital
€91,114
▲ 383%
2025
middle half of the sector
20242025
Solvency
50.5%
▲ 22.8pp
2025
middle half of the sector
20242025
Current ratio
2.33
▲ 1.02
2025
middle half of the sector
20242025
Return on assets (ROA)
33.1%
▲ 6.4pp
2025
middle half of the sector
20242025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20242025
Operating result€62,148-€91,447▲ 47.1%
Net result€35,978within the sector's middle half-€71,115above the sector's middle half▲ 97.7%
Equity€37,278within the sector's middle half-€108,393within the sector's middle half▲ 191%
Total assets€134,500within the sector's middle half-€214,628within the sector's middle half▲ 59.6%
Debt€97,221-€106,235▲ 9.3%
Working capital€18,869within the sector's middle half-€91,114within the sector's middle half▲ 383%
Solvency27.7%within the sector's middle half-50.5%within the sector's middle half▲ 22.8pp
Current ratio1.31within the sector's middle half-2.33within the sector's middle half▲ 1.02
Return on assets (ROA)26.7%within the sector's middle half-33.1%within the sector's middle half▲ 6.4pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 operating result for 2025 is 47% higher than in 2024.
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 €214,628
Fixed assets
€54,805 ▲ 1.6%
Current assets
€159,823 ▲ 98.4%
Equity and liabilities €214,628
Equity
€108,393 ▲ 191%
Debt
€106,235 ▲ 9.3%
Debt's share of the balance-sheet total falls from 72.3% to 49.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€109,326▲
2024 · €74,940
Cash flow
€88,994▲
2024 · €48,770
Debt to equity
0.98▼
2024 · 2.61
ROE
65.6%▼
2024 · 96.5%
Interest coverage
33.48▲
2024 · 18.92
Debt ≤ 1 year
€68,709▲
2024 · €61,687
Debt > 1 year
€37,526▲
2024 · €35,534
Income taxes
€19,857▲
2024 · €11,089
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €65,726 | €18,740 |
| Depreciation and write-downs of the year | €12,792 | €17,879 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,792 | €17,879 | ▲ 39.8% |
| Other operating charges640/8 | €1,910 | €1,697 | ▼ 11.1% |
| Gross operating margin9900 | €76,850 | €111,023 | ▲ 44.5% |
| Operating profit (loss)9901 | €62,148 | €91,447 | ▲ 47.1% |
| Financial income75/76B | €1,380 | €2,791 | ▲ 102% |
| Recurring financial income75 | €1,380 | €2,791 | ▲ 102% |
| Financial charges65/66B | €16,461 | €3,266 | ▼ 80.2% |
| Recurring financial charges65 | €3,961 | €3,266 | ▼ 17.6% |
| Non-recurring financial charges66B | €12,500 | - | - |
| Profit (loss) for the period before taxes9903 | €47,067 | €90,973 | ▲ 93.3% |
| Income taxes67/77 | €11,089 | €19,857 | ▲ 79.1% |
| Profit (loss) for the period9904 | €35,978 | €71,115 | ▲ 97.7% |
| Profit (loss) for the period to be appropriated9905 | €35,978 | €71,115 | ▲ 97.7% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €134,500 | €214,628 | ▲ 59.6% |
| Fixed assets21/28 | €53,943 | €54,805 | ▲ 1.6% |
| Tangible fixed assets22/27 | €53,943 | €54,805 | ▲ 1.6% |
| Plant, machinery and equipment23 | - | €2,057 | - |
| Furniture and vehicles24 | €53,943 | €49,390 | ▼ 8.4% |
| Other tangible fixed assets26 | - | €3,358 | - |
| Current assets29/58 | €80,557 | €159,823 | ▲ 98.4% |
| Amounts receivable within one year40/41 | €62,405 | €81,411 | ▲ 30.5% |
| Trade receivables40 | €16,966 | €23,863 | ▲ 40.7% |
| Other amounts receivable41 | €45,439 | €57,548 | ▲ 26.6% |
| Cash at bank and in hand54/58 | €17,148 | €74,112 | ▲ 332% |
| Deferred charges and accrued income490/1 | €1,004 | €4,299 | ▲ 328% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €134,500 | €214,628 | ▲ 59.6% |
| Equity10/15 | €37,278 | €108,393 | ▲ 191% |
| Contributions10/11 | €1,300 | €1,300 | = |
| Profit (loss) carried forward14 | €35,978 | €107,093 | ▲ 198% |
| Amounts payable17/49 | €97,221 | €106,235 | ▲ 9.3% |
| Amounts payable after more than one year17 | €35,534 | €37,526 | ▲ 5.6% |
| Financial debts170/4 | €35,534 | €37,526 | ▲ 5.6% |
| Amounts payable within one year42/48 | €61,687 | €68,709 | ▲ 11.4% |
| Current portion of amounts payable after more than one year42 | €7,897 | €10,250 | ▲ 29.8% |
| Trade debts44 | €21,862 | €6,052 | ▼ 72.3% |
| Suppliers440/4 | €21,862 | €6,052 | ▼ 72.3% |
| Taxes, remuneration and social security45 | €31,929 | €52,406 | ▲ 64.1% |
| Taxes450/3 | €31,929 | €52,406 | ▲ 64.1% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €35,978 | €71,115 | ▲ 97.7% |
| + Depreciation and write-downs630 | €12,792 | €17,879 | ▲ 39.8% |
| Operating cash flow (approximation) | €48,770 | €88,994 | ▲ 82.5% |
| Investment in fixed assets (approximation) | - | -€18,740 | - |
| Change in cash | - | €56,965 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 39,278 companies had the same profile as TIMETOSHAPE has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.8%
was still going
2.3%
stopped otherwise
1.8%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of TIMETOSHAPE itself is lower: < 0.1% within 12 months. It rests on far more data about TIMETOSHAPE than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 39,278 companies, not a prediction for TIMETOSHAPE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Board & ownership
Directors
Directors
2 directors, no change since 2023
HUENS Frank Sylvain Louis
Current
Director (not named in the articles) · appointed in the act of 07-07-2023 · term without a fixed end · listed in the 2025 annual accounts, filed on 25-08-2026
LADHA Naznin
Current
Director (not named in the articles) · appointed in the act of 07-07-2023 · term without a fixed end · listed in the 2025 annual accounts, filed on 25-08-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“La première assemblée générale qui suit doit confirmer le mandat de l’administrateur coopté. En cas de confirmation, l’administrateur coopté…”
deed of 07-07-2023Owners and capital
Shareholders
At incorporation
act of 07-07-2023 ↗
- HUENS Frank Sylvain Louis 40 shares (40%) · €520
- LADHA Naznin 60 shares (60%) · €780
Capital transactions
Capital over time
- 07-07-2023 Incorporation · €1,300 · 100 shares
Mandate history
2 people, 2 in office
- Board
| Name | Functions and periods |
|---|---|
| HUENS Frank Sylvain Louis |
|
| LADHA Naznin |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Organe d'administration, 1”
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 07-07-2023 (in French)
Network & group
TIMETOSHAPE shares no director with another company.
Companies at the same address
1 other companyConnections & network
2 current directorsThe network starts from the directors of TIMETOSHAPE. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
25-08
micro format · 25 days late
2025
31-12
Financial
Equity above €100,000equity €108,393 ▲191%
With a profit in every financial year since 2024, equity grows to €108,393.
20-09
micro format · 51 days late
2023
07-07
Gazette deed
IncorporationStarting capital €1,300 · Appointments: HUENS Frank Sylvain Louis (director) and LADHA Naznin (director) · Founder12 points ▸
Gazette deed
Incorporation
Starting capital €1,300 · Appointments: HUENS Frank Sylvain Louis (director) and LADHA Naznin (director) · Founder12 points ▸
- Incorporation, 03-07-2023
- Founder, HUENS Frank Sylvain Louis
- Founder, LADHA Naznin
- Founding capital, €1,300
- Capital
- Other provision, “effectivité décisions finales, effectives qu'à dater dépôt au greffe expédition acte constitutif conformément loi” (deed in French)
- Registered office clause, “1410 Waterloo,Avenue Claire 19” (deed in French)
- Board rule, 2
- Director appointment, HUENS Frank Sylvain Louis (director (not named in the articles))
- Director appointment, LADHA Naznin (director (not named in the articles))
- Pre-incorporation commitments, “reprise, engagements,obligations résultantes,activités entreprises par l'un ou l'autre comparants au nom et pour compte société en formation” (deed in French)
- Other provision, “printed section heading” (deed in French)
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
TIMETOSHAPE in French
Enterprise number
0803.597.587
Legal form
Private limited company
Status
Active, normale toestand
Founded
05-07-2023
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 07-07-2023 (in French)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Région Wallonne, sièges administratifs,agences,ateliers,dépôts et succursales,tant en Belgique qu'à l'étranger”
deed of 07-07-2023 (in French)Registered office and establishments
Registered office
Avenue Claire 19, 1410 Waterloo, Belgium
Establishment unit
Avenue Claire 19, 1410 Waterloo since 05-07-2023 · unit number 2.347.471.066
E-mail
timetoshape@gmail.com
Activities
NACEBEL 202570200
Business and other management consultancy main activity
68121
Development of residential building projects
85599
Other education
Codes under NACEBEL 2008
70220
Business consulting main activity
41101
Real estate development
85599
Other education
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 07-07-2023 (in French)
“Toutes missions de consultance,d’études,de direction,de planification générale,de techniques du bâtiment (stabilité et techniques…”
21 activities
- Toutes missions de consultance,d’études,de direction,de planification générale,de techniques du bâtiment (stabilité et techniques spéciales),de coordination et de surveillance d’exécution de tous travaux,ouvrages et complexes,confiées aux coordinateurs de chantiers en vertu de la loi du 04 août 1996 relatives au « bien être des travailleurs lors de l’exécution de leur travail »,et à son arrêté royal d’application du 25 janvier 2001,et la gestion immobilière,le Project management,la certification PEB et les autres activités immobilières à l’exclusion de toutes opérations revêtant un caractère commercial
- Toutes missions de coordination en matière de sécurité et santé
- Toutes missions relatives au design,la sculpture et la peinture d’art la décoration,l’architecture d’intérieur ou l’ameublement,l’aménagement paysager
- La société pourra élaborer des plans,cahiers des charges ou de métrés,tous travaux d’illustration,de réalisation de maquettes
- La société pourra réaliser et effectuer toutes prestations et activités créatives,artistiques et de spectacle,d’exposition,d’évènements,ainsi que les missions et prestations de direction artistique liées à ces activités artistiques
- Le design d’objets,vêtements,décorations,ameublement ainsi que l’achat et la vente de ces designs
- L’importation et l’exportation de meubles et d’éléments de décoration,ainsi que leur vente,qu’ils soient ou non utilisés pour l’ameublement de biens immobiliers
- La création,réalisation,achat et vente,de maquettes et miniatures
- La création,achat et vente d’œuvres d’art,graphiques ou numériques
- La recherche,le développement,l’organisation et la réalisation,interdisciplinaire ou non,itinérants ou non,de tous projets d’art en interaction avec les médias,la technologie,la mode,la conservation,l’édition,le graphisme,les énergies renouvelables
- La recherche et le développement de techniques de construction innovantes et de matériaux de construction durables
- L’organisation et la participation à tous événements,expositions,conférences,concours,excursions ou voyages ; toutes études et formations,collaborations multidisciplinaires,analyses méthodologiques,recherches théoriques innovantes et expériences pratiques,dans les domaines énumérés ci-avant,tant en Belgique qu’à l’étranger
- Toutes missions de conseils,consultances ou expertises dans les domaines énumérés ci-avant
- La gestions de clubs,d'écoles et d'académies de clubs de sport
- La recherche,le développement,l'organisation et la réalisation,interdisciplinaire ou non,itinérants ou non,de tous projets sportifs
- L'organisation et la participation à tous évènements,conférences,toutes études et formations,collaborations multidisciplinaires,analyses méthodologiques,recherches théoriques innovantes et expériences pratiques dans le domaine sportif tant en Belgique qu'à l'étranger
- Toutes missions de conseils,consultances ou expertises dans le domaine sportif
- Gestion de cafétéria de clubs sportifs si l'on peut le mettre
- La société pourra conclure toutes conventions relatives à l’achat,à la construction de tout immeuble,sa rénovation,sa mise en valeur,sa décoration et,d’une manière générale,la valorisation de tous droits réels immobiliers,même démembrés ainsi que l’aménagement et la location de locaux nécessaires pour son activité et ce,sans porter atteinte au caractère civil de la société ni conduire au développement d’une quelconque activité commerciale
- La société pourra conclure toutes conventions relatives à l’engagement de personnel,aux ententes à conclure avec d’éventuels collaborateurs et,en général,faire toutes opérations civiles,mobilières ou immobilières se rapportant,directement ou indirectement,en tout ou en partie,à son objet à l’exclusion de toute activité commerciale
- La société aura également pour objet la vente,la location,la mise à disposition de tous brevets,procédés et autres droits intellectuels et tout matériel se rapportant,directement ou indirectement,aux activités ci-dessus
Invoicing and payment
VAT number
BE 0803.597.587
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0803.597.587
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
15 May at 11:00
deed of 07-07-2023 (in French)Sites & property
Location
Buildings and parcels at the address
Ground area
1,019 m²
Building footprint
105 m²
Building volume
952 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 25763K0680/00A000 | Wallonia | 1,019 m² | 1 · 105 m² | 11.0 m · 3 |