Timo
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 35 days after the deadline Filed on 4 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00501632.
Annual accounts 2025 filed on 04-09-2026 at the NBB all 35 filings
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€34,252▲ 996%
2024 · €3,126
Working capital
-€540,410▲ 2.5%
2024 · -€554,474
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€142,806
▲ 15.3%
2025
20182025
Net result
€34,252
▲ 996%
2025
middle half of the sector
20182025
Equity
€801,498
▲ 4.5%
2025
middle half of the sector
20182025
Total assets
€2.6m
▲ 0.4%
2025
middle half of the sector
20182025
Debt
€1.8m
▼ 1.3%
2025
20182025
Working capital
-€540,410
▲ 2.5%
2025
lowest quarter of the sector
20182025
Solvency
30.9%
▲ 1.2pp
2025
middle half of the sector
20182025
Current ratio
0.32
▼ 0.05
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
1.3%
▲ 1.2pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.02m-€0.1m▲ 379%€0.1m▲ 8.3%€0.05m▼ 61.5%€0.009m▼ 80.9%€0.09m▲ 865%-€0.2m-€0.1m▲ 15.3%
Net result€0.03m-€0.1m▲ 232%€0.1mabove the sector's middle half▼ 3.9%€0.03mwithin the sector's middle half▼ 74.1%€0.003mwithin the sector's middle half▼ 89.8%€0.06mwithin the sector's middle half▲ 23×€0.003mbelow the sector's middle half▼ 94.7%€0.03mwithin the sector's middle half▲ 996%
Equity€0.5m-€0.6m▲ 19.8%€0.7mabove the sector's middle half▲ 8.7%€0.7mabove the sector's middle half▲ 3.8%€0.7mabove the sector's middle half▲ 0.4%€0.8mwithin the sector's middle half▲ 8.4%€0.8mwithin the sector's middle half▲ 0.4%€0.8mwithin the sector's middle half▲ 4.5%
Total assets€0.6m-€0.6m▲ 9.5%€1.3mabove the sector's middle half▲ 101%€1.3mabove the sector's middle half▼ 0.2%€1.1mabove the sector's middle half▼ 13.7%€1.1mwithin the sector's middle half▼ 2.0%€2.6mwithin the sector's middle half▲ 137%€2.6mwithin the sector's middle half▲ 0.4%
Debt€0.02m-€0.02m▲ 34.4%€0.6m▲ 28×€0.6m▼ 4.7%€0.4m▼ 30.5%€0.3m▼ 20.0%€1.8m▲ 455%€1.8m▼ 1.3%
Working capital€0.6m-€0.6m▲ 1.8%€0.2mabove the sector's middle half▼ 60.4%€0.2mabove the sector's middle half▼ 26.7%€0.06mwithin the sector's middle half▼ 63.7%€0.03mwithin the sector's middle half▼ 48.3%-€0.6mbelow the sector's middle half-€0.5mbelow the sector's middle half▲ 2.5%
Solvency88.3%-96.6%▲ 8.3pp52.3%within the sector's middle half▼ 44.3pp54.4%within the sector's middle half▲ 2.1pp63.3%within the sector's middle half▲ 8.9pp70.0%within the sector's middle half▲ 6.7pp29.7%within the sector's middle half▼ 40.3pp30.9%within the sector's middle half▲ 1.2pp
Current ratio35.85-27.40▼ 8.441.96within the sector's middle half▼ 25.441.55within the sector's middle half▼ 0.411.28within the sector's middle half▼ 0.271.13within the sector's middle half▼ 0.140.37below the sector's middle half▼ 0.770.32below the sector's middle half▼ 0.05
Return on assets (ROA)5.3%-16.0%▲ 10.7pp7.6%within the sector's middle half▼ 8.3pp2.0%within the sector's middle half▼ 5.7pp0.2%below the sector's middle half▼ 1.7pp5.4%within the sector's middle half▲ 5.2pp0.1%below the sector's middle half▼ 5.3pp1.3%within the sector's middle half▲ 1.2pp
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 a loss of €142,806, smaller than the loss of €168,609 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.6m
Fixed assets
€2.3m ▲ 3.6%
Current assets
€250,143 ▼ 22.3%
Equity and liabilities €2.6m
Equity
€801,498 ▲ 4.5%
Debt
€1.8m ▼ 1.3%
Debt's share of the balance-sheet total falls from 70.3% to 69.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
-€4,537▲
2024 · -€158,382
Cash flow
€172,522▲
2024 · €13,353
Debt to equity
2.24▼
2024 · 2.37
ROE
4.3%▲
2024 · 0.4%
Interest coverage
-0.47▲
2024 · -24.98
Debt ≤ 1 year
€790,553▼
2024 · €876,593
Debt > 1 year
€1.0m▲
2024 · €939,043
Income taxes
€3,343▲
2024 · €252
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €901 | €76,939 | €30,971 |
| Intangible fixed assets | - | - | - | €600,000 | €113,900 |
| Financial fixed assets | - | €20,000 | - | €1.5m | €75,790 |
| Depreciation and write-downs of the year | €8,086 | €7,075 | €8,167 | €10,227 | €138,269 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
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 | - | €1,890 | €8,086 | €8,086 | €7,075 | €8,167 | €10,227 | €138,269 | ▲ 14× |
| Other operating charges640/8 | - | - | - | €2,628 | €2,930 | €1,504 | €4,695 | €2,085 | ▼ 55.6% |
| Gross operating margin9900 | €51,320 | €130,409 | €132,128 | €58,150 | €19,043 | €96,870 | -€153,687 | -€2,452 | ▲ 98.4% |
| Operating profit (loss)9901 | €23,750 | €113,836 | €123,295 | €47,436 | €9,038 | €87,199 | -€168,609 | -€142,806 | ▲ 15.3% |
| Financial income75/76B | - | - | - | €117 | €5,082 | €9,541 | €178,329 | €190,020 | ▲ 6.6% |
| Recurring financial income75 | €8,000 | €8,002 | - | €117 | €5,082 | €9,541 | €178,329 | €4,170 | ▼ 97.7% |
| Non-recurring financial income76B | - | - | - | - | - | - | €178,329 | €185,850 | ▲ 4.2% |
| Financial charges65/66B | - | - | - | €9,605 | €6,503 | €6,385 | €6,341 | €9,619 | ▲ 51.7% |
| Recurring financial charges65 | €755 | €841 | €3,820 | €9,605 | €6,503 | €6,385 | €6,341 | €9,619 | ▲ 51.7% |
| Profit (loss) for the period before taxes9903 | €30,995 | €120,998 | €119,475 | €37,948 | €7,617 | €90,354 | €3,379 | €37,595 | ▲ 11× |
| Income taxes67/77 | - | €18,115 | €20,610 | €12,377 | €5,007 | €30,941 | €252 | €3,343 | ▲ 13× |
| Profit (loss) for the period9904 | €30,995 | €102,883 | €98,866 | €25,572 | €2,610 | €59,413 | €3,126 | €34,252 | ▲ 996% |
| Profit (loss) for the period to be appropriated9905 | €30,995 | €102,883 | €98,866 | €25,572 | €2,610 | €59,413 | €3,126 | €34,252 | ▲ 996% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.6m | €0.6m | €1.3m | €1.3m | €1.1m | €1.1m | €2.6m | €2.6m | ▲ 0.4% |
| Fixed assets21/28 | €0.009m | €0.05m | €0.8m | €0.8m | €0.8m | €0.8m | €2.3m | €2.3m | ▲ 3.6% |
| Intangible fixed assets21 | - | €0.008m | €0.006m | €0.004m | €0.002m | - | €0.6m | €0.6m | ▼ 1.0% |
| Tangible fixed assets22/27 | - | €0.04m | €0.06m | €0.06m | €0.05m | €0.05m | €0.1m | €0.1m | ▲ 11.1% |
| Plant, machinery and equipment23 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €219 | ▼ 57.8% |
| Furniture and vehicles24 | - | - | - | €0.06m | €0.05m | €0.05m | €0.1m | €0.1m | ▲ 11.4% |
| Financial fixed assets28 | €0.009m | - | €0.8m | €0.8m | €0.8m | €0.8m | €1.5m | €1.6m | ▲ 4.9% |
| Current assets29/58 | €0.6m | €0.6m | €0.5m | €0.5m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 22.3% |
| Amounts receivable after more than one year29 | - | - | - | €0.1m | €0.1m | €0.1m | - | - | - |
| Other amounts receivable291 | - | - | - | €0.1m | €0.1m | €0.1m | - | - | - |
| Stocks and contracts in progress3 | - | - | €0.1m | €0 | - | - | - | - | - |
| Contracts in progress37 | - | - | - | €0 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.1m | €0.2m | €0.2m | €0.2m | €0.1m | €0.2m | €0.2m | €0.05m | ▼ 65.9% |
| Trade receivables40 | - | - | - | €0.2m | €0.1m | €0.03m | €0.2m | €0.04m | ▼ 72.8% |
| Other amounts receivable41 | - | - | - | €7 | €7 | €0.1m | €465 | €0.01m | ▲ 23× |
| Current investments50/53 | - | - | - | €0.1m | €0 | - | €0.04m | €0.2m | ▲ 318% |
| Cash at bank and in hand54/58 | €348 | €0.001m | €152 | €126 | €0.001m | €134 | €0.1m | €0.01m | ▼ 90.4% |
| Deferred charges and accrued income490/1 | - | - | - | €0 | - | - | €0.002m | €460 | ▼ 74.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.6m | €0.6m | €1.3m | €1.3m | €1.1m | €1.1m | €2.6m | €2.6m | ▲ 0.4% |
| Equity10/15 | €0.5m | €0.6m | €0.7m | €0.7m | €0.7m | €0.8m | €0.8m | €0.8m | ▲ 4.5% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Distributable reserves133 | - | - | - | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Profit (loss) carried forward14 | -€0.1m | -€0.05m | - | €0.03m | €0.03m | €0.09m | €0.09m | €0.1m | ▲ 37.8% |
| Provisions and deferred taxes16 | €0.05m | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €0.02m | €0.02m | €0.6m | €0.6m | €0.4m | €0.3m | €1.8m | €1.8m | ▼ 1.3% |
| Amounts payable after more than one year17 | - | - | €0.4m | €0.3m | €0.2m | €0.09m | €0.9m | €1.0m | ▲ 6.6% |
| Financial debts170/4 | - | - | - | €0.3m | €0.2m | €0.09m | €0.9m | €1.0m | ▲ 6.6% |
| Amounts payable within one year42/48 | €0.02m | €0.02m | €0.2m | €0.3m | €0.2m | €0.2m | €0.9m | €0.8m | ▼ 9.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.09m | €0.1m | €0.1m | €0.01m | €0.04m | ▲ 217% |
| Financial debts43 | - | - | - | €80 | €0 | - | - | €0.1m | - |
| Credit institutions430/8 | - | - | - | €80 | €0 | - | - | €0.1m | - |
| Trade debts44 | €0.009m | €0.002m | €0.004m | €0.1m | €0.02m | €0.04m | €0.7m | €0.5m | ▼ 30.7% |
| Suppliers440/4 | - | - | - | €0.1m | €0.02m | €0.04m | €0.7m | €0.5m | ▼ 30.7% |
| Advances received on contracts in progress46 | - | - | - | €0 | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.04m | €0.03m | €0.04m | €0.04m | €0.007m | ▼ 81.3% |
| Taxes450/3 | - | - | - | €0.04m | €0.03m | €0.04m | €0.04m | €0.007m | ▼ 81.3% |
| Other amounts payable47/48 | - | - | - | €0.05m | €0.07m | €0.06m | €0.1m | €0.1m | ▲ 14.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.03m | €0.1m | €0.1m | €0.03m | €0.003m | €0.06m | €0.003m | €0.03m | ▲ 996% |
| + Depreciation and write-downs630 | - | €0.002m | €0.008m | €0.008m | €0.007m | €0.008m | €0.01m | €0.1m | ▲ 14× |
| Operating cash flow (approximation) | €0.03m | €0.1m | €0.1m | €0.03m | €0.01m | €0.07m | €0.01m | €0.2m | ▲ 13× |
| Investment in fixed assets (approximation) | - | -€0.04m | -€0.8m | €0 | -€0.02m | -€0.001m | -€1.4m | -€0.2m | ▲ 84.7% |
| Change in cash | - | €251 | -€447 | -€25 | €0.001m | -€0.001m | €0.1m | -€0.1m | - |
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 35 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 04-09-2026 | 2026-00501632 | |
| 31-12-2024 | abbreviated format | 27-11-2025 | 2025-00571559 | |
| 31-12-2023 | abbreviated format | 28-08-2024 | 2024-00391598 | |
| 31-12-2022 | micro format | 21-09-2023 | 2023-00450992 | |
| 31-12-2021 | micro format | 12-12-2022 | 2022-20535454 | |
| 31-12-2020 | micro format | 20-07-2021 | 2021-37000490 | |
| 31-12-2019 | micro format | 07-10-2020 | 2020-59300010 | |
| 31-12-2018 | micro format | 30-07-2019 | 2019-39800124 | |
| 31-12-2017 | micro format | 30-07-2018 | 2018-39300052 | |
| 31-12-2016 | micro format | 18-08-2017 | 2017-44100506 |