Timfin
ActiveSummary
The computed 12-month bankruptcy probability of Timfin is 2.5% (moderate). The 2024 annual accounts show equity of €275,537 and a net result of €56,232. Its solvency ranks better than 20% of 7461 sector peers (fiscal year 2024). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability74▼-12
Solvency45▲+4
Growth52
Track record94
Bankruptcy probability, 12 months
2.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €15,000 at 30 days acceptable
Liquidity ample (current ratio 1.53 against 1.39 in 2023; short-term debt: 29.5% and cash: 9.3% of total assets), but 80.3% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 7461 sector peers (2024).
NBB · sector comparisonPosition among 7461 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 07-07-2025, 24 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
not confirmed
2024
24 d early
2023
19 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 2 accounts on average 22 days before 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 (1)
History
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How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money
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Financials · fiscal year 2024, abbreviated schema
Equity
€275,537▲ 25.6%
2023 · €219,305
Total assets
€1.4m▲ 2.1%
2023 · €1.4m
Net result
€56,232▼ 70.3%
2023 · €189,305
Working capital
€218,182▲ 59.5%
2023 · €136,801
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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
Line20232024
Operating result€266,288-€111,591▼ 58.1%
Net result€189,305above the sector's middle half-€56,232within the sector's middle half▼ 70.3%
Equity€219,305within the sector's middle half-€275,537within the sector's middle half▲ 25.6%
Total assets€1.4mwithin the sector's middle half-€1.4mwithin the sector's middle half▲ 2.1%
Debt€1.1m-€1.1m▼ 2.5%
Working capital€136,801within the sector's middle half-€218,182within the sector's middle half▲ 59.5%
Solvency16.0%below the sector's middle half-19.7%below the sector's middle half▲ 3.7pp
Current ratio1.39within the sector's middle half-1.53within the sector's middle half▲ 0.14
Return on assets (ROA)13.8%above the sector's middle half-4.0%within the sector's middle half▼ 9.8pp
Staff (FTE)8.9within the sector's middle half-9within the sector's middle half▲ 1.1%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 58% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.4m
Fixed assets
€765,128 ▼ 12.9%
Current assets
€630,142 ▲ 29.0%
Equity and liabilities €1.4m
Equity
€275,537 ▲ 25.6%
Debt
€1.1m ▼ 2.5%
Debt's share of the balance-sheet total falls from 84.0% to 80.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€290,856▼
2023 · €522,602
Cash flow
€235,496▼
2023 · €445,620
Quick ratio
1.32▲
2023 · 1.18
Debt to equity
4.06▼
2023 · 5.23
ROE
20.4%▼
2023 · 86.3%
Interest coverage
6.35▼
2023 · 7.83
Debt ≤ 1 year
€411,961▲
2023 · €351,660
Debt > 1 year
€678,740▼
2023 · €775,653
Income taxes
€19,041▼
2023 · €30,357
Staff costs
€728,715▼
2023 · €1.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,541 companies that looked in July 2024 the way this one looks now, 3.3% went bankrupt within 24 months and 95% are still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
3.3%
went bankrupt
1.1%
stopped otherwise
95%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.5% 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 2,541 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 | 2023 | 2024 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | €1.3m | €728,715 | ▼ 41.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €256,315 | €179,265 | ▼ 30.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €87 | -€87 | ▼ 200% |
| Other operating charges640/8 | €2,229 | €2,566 | ▲ 15.1% |
| Gross operating margin9900 | €1.8m | €1.0m | ▼ 42.5% |
| Operating profit (loss)9901 | €266,288 | €111,591 | ▼ 58.1% |
| Financial income75/76B | €20,126 | €9,510 | ▼ 52.7% |
| Recurring financial income75 | €20,126 | €9,510 | ▼ 52.7% |
| Financial charges65/66B | €66,751 | €45,829 | ▼ 31.3% |
| Recurring financial charges65 | €66,751 | €45,829 | ▼ 31.3% |
| Profit (loss) for the period before taxes9903 | €219,662 | €75,273 | ▼ 65.7% |
| Income taxes67/77 | €30,357 | €19,041 | ▼ 37.3% |
| Profit (loss) for the period9904 | €189,305 | €56,232 | ▼ 70.3% |
| Profit (loss) for the period to be appropriated9905 | €189,305 | €56,232 | ▼ 70.3% |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €1.4m | €1.4m | ▲ 2.1% |
| Fixed assets21/28 | €878,727 | €765,128 | ▼ 12.9% |
| Intangible fixed assets21 | €165,816 | €139,343 | ▼ 16.0% |
| Tangible fixed assets22/27 | €712,911 | €625,785 | ▼ 12.2% |
| Plant, machinery and equipment23 | €541,345 | €473,776 | ▼ 12.5% |
| Furniture and vehicles24 | €21,355 | €15,688 | ▼ 26.5% |
| Leasing and similar rights25 | €117,695 | €97,778 | ▼ 16.9% |
| Other tangible fixed assets26 | €32,516 | €38,542 | ▲ 18.5% |
| Current assets29/58 | €488,461 | €630,142 | ▲ 29.0% |
| Stocks and contracts in progress3 | €75,103 | €86,404 | ▲ 15.0% |
| Stocks30/36 | €75,103 | €86,404 | ▲ 15.0% |
| Amounts receivable within one year40/41 | €301,956 | €382,225 | ▲ 26.6% |
| Trade receivables40 | €301,956 | €382,225 | ▲ 26.6% |
| Cash at bank and in hand54/58 | €110,057 | €129,913 | ▲ 18.0% |
| Deferred charges and accrued income490/1 | €1,346 | €31,600 | ▲ 2,248% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €1.4m | €1.4m | ▲ 2.1% |
| Equity10/15 | €219,305 | €275,537 | ▲ 25.6% |
| Contributions10/11 | €30,000 | €30,000 | = |
| Reserves13 | €189,305 | €245,537 | ▲ 29.7% |
| Distributable reserves133 | €189,305 | €245,537 | ▲ 29.7% |
| Amounts payable17/49 | €1.1m | €1.1m | ▼ 2.5% |
| Amounts payable after more than one year17 | €775,653 | €678,740 | ▼ 12.5% |
| Financial debts170/4 | €775,653 | €678,740 | ▼ 12.5% |
| Amounts payable within one year42/48 | €351,660 | €411,961 | ▲ 17.1% |
| Current portion of amounts payable after more than one year42 | €93,794 | €96,913 | ▲ 3.3% |
| Financial debts43 | €125,000 | €0 | ▼ 100% |
| Credit institutions430/8 | €125,000 | €0 | ▼ 100% |
| Trade debts44 | €44,350 | €119,932 | ▲ 170% |
| Suppliers440/4 | €44,350 | €119,932 | ▲ 170% |
| Advances received on contracts in progress46 | €158 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €88,358 | €95,115 | ▲ 7.6% |
| Taxes450/3 | €49,644 | €68,572 | ▲ 38.1% |
| Remuneration and social security454/9 | €38,713 | €26,543 | ▼ 31.4% |
| Other amounts payable47/48 | - | €100,000 | - |
| Accrued charges and deferred income492/3 | €20,570 | €29,033 | ▲ 41.1% |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €189,305 | €56,232 | ▼ 70.3% |
| + Depreciation and write-downs630 | €256,315 | €179,265 | ▼ 30.1% |
| Operating cash flow (approximation) | €445,620 | €235,496 | ▼ 47.2% |
| Investment in fixed assets (approximation) | - | -€65,665 | - |
| Change in cash | - | €19,857 | - |
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
2025
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
NBB filing
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, Wingene · 1 establishment unit since 2022
Ground area
3,487 m²
Building footprint
1,961 m²
Volume, LiDAR
10,516 m³
Parcel 37012C0335/00P000, Flanders · tallest building 6.8 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Timfin
since 20222.328.222.308
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37012C0335/00P000 | Flanders | 3,487 m² | 1 · 1,961 m² | 6.8 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 6,022 EUR awarded · 6,641 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 4,534 EUR | 4,524 EUR |
| 2024 | 1 | 888 EUR | 888 EUR |
| 2023 | 1 | 0 EUR | 629 EUR |
| 2022 | 1 | 600 EUR | 600 EUR |
Similar companies · same sector, comparable size
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M.J. BEZETTINGSWERKEN
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,138. 7,012 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
Founded18-01-2022
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
25510Coating of metals
43332Laying of wooden floor and wall coverings
43341Painting of buildings
Contact
Website
www.timfin.be
E-mail
info@timfin.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0780598392
Also
9925:BE0780598392
Registered
19-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.