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TIMUCOL

Active
Private limited companyfounded 2007active for 19 yearsGrote Markt 14, 3300 Tienen, BelgiumKBO/BCE: BE 0890.243.135

Financials · financial year 2025, abbreviated format

Annual accounts 2025 filed on 31-07-2026 at the NBB all 18 filings

Turnover
≈ €330,000
Estimated: probably between €270,000 and €430,000
Total assets
€2.8m▲ 0.7%
2024 · €2.8m
Net result
€87,895▲ 83.6%
2024 · €47,876
Working capital
-€46,972▲ 63.8%
2024 · -€129,664
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is 68% higher than in 2024 and the highest since 2021. It is a recovery after the fall in 2024.

Operating result€0.1m 2025 Net result€0.09m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

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 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€0.3m-€0.005m▼ 98.1%€0.1m▲ 20×€0.09m▼ 4.5%€0.03m▼ 65.6%€0.1m▲ 226%€0.08m▼ 21.4%€0.1m▲ 67.5%
Net result€0.1m--€0.01m€0.06mwithin the sector's middle half€0.05mwithin the sector's middle half▼ 15.1%€0.02mwithin the sector's middle half▼ 71.2%€0.06mwithin the sector's middle half▲ 323%€0.05mwithin the sector's middle half▼ 24.5%€0.09mwithin the sector's middle half▲ 83.6%
Equity€2.0m-€2.0m▼ 0.5%€2.0mabove the sector's middle half▼ 0.1%€2.0mabove the sector's middle half▲ 2.6%€2.0mabove the sector's middle half▲ 0.7%€2.1mabove the sector's middle half▲ 3.1%€2.2mabove the sector's middle half▲ 2.3%€2.2mabove the sector's middle half▲ 4.1%
Total assets€2.9m-€2.8m▼ 1.1%€2.8mabove the sector's middle half▼ 2.1%€2.7mwithin the sector's middle half▼ 2.8%€2.8mwithin the sector's middle half▲ 2.0%€2.8mwithin the sector's middle half▲ 0.2%€2.8mwithin the sector's middle half▼ 0.5%€2.8mabove the sector's middle half▲ 0.7%
Debt€0.9m-€0.9m▼ 2.5%€0.8m▼ 6.6%€0.7m▼ 16.1%€0.7m▲ 5.7%€0.7m▼ 7.9%€0.6m▼ 9.4%€0.5m▼ 11.6%
Working capital-€0.2m--€0.2m▼ 14.6%-€0.2mbelow the sector's middle half▼ 3.6%-€0.2mbelow the sector's middle half▲ 26.5%-€0.2mbelow the sector's middle half▼ 40.0%-€0.2mbelow the sector's middle half▲ 26.2%-€0.1mbelow the sector's middle half▲ 26.3%-€0.05mwithin the sector's middle half▲ 63.8%
Solvency69.2%-69.7%▲ 0.4pp71.1%within the sector's middle half▲ 1.4pp75.0%within the sector's middle half▲ 4.0pp74.1%within the sector's middle half▼ 0.9pp76.2%within the sector's middle half▲ 2.1pp78.3%within the sector's middle half▲ 2.1pp81.0%above the sector's middle half▲ 2.7pp
Current ratio0.39-0.32▼ 0.070.24below the sector's middle half▼ 0.080.18below the sector's middle half▼ 0.060.14below the sector's middle half▼ 0.030.31below the sector's middle half▲ 0.170.41below the sector's middle half▲ 0.100.72within the sector's middle half▲ 0.31
Return on assets (ROA)4.7%--0.4%▼ 5.1pp2.2%within the sector's middle half▲ 2.6pp1.9%within the sector's middle half▼ 0.3pp0.5%within the sector's middle half▼ 1.4pp2.3%within the sector's middle half▲ 1.7pp1.7%within the sector's middle half▼ 0.6pp3.2%within the sector's middle half▲ 1.4pp
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.
Turnover and EBIT margin are not published. The abbreviated 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 €2.8m
Fixed assets €2.7m ▼ 0.4%
Current assets €118,865 ▲ 33.6%
Equity and liabilities €2.8m
Equity €2.2m ▲ 4.1%
Debt €527,471 ▼ 11.6%
Debt's share of the balance-sheet total falls from 21.7% to 19.0%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€202,328▲
2024 · €135,869
Cash flow
€151,280▲
2024 · €100,813
Debt to equity
0.24▼
2024 · 0.28
ROE
3.9%▲
2024 · 2.2%
Interest coverage
27.85▲
2024 · 14.42
Debt ≤ 1 year
€165,837▼
2024 · €218,638
Debt > 1 year
€360,384▼
2024 · €378,371
Income taxes
€43,783▲
2024 · €25,630
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€9,695€95,605€18,403€28,955€51,852
Depreciation and write-downs of the year€50,670€45,009€50,467€52,938€63,385

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Comparable companies

These companies have the same main activity as TIMUCOL: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €2.3m and €2.9m, founded between 2006 and 2010.

CompanyFoundedTotal assetsEquityGross marginNet resultFTEFinancial year
TIMUCOL Tienen2007€2.8m€2.2m€0.2m€0.09m-2025
EMSOFI Halle2006€2.7m€2.3m€0.2m€0.1m12025
HE group Linter2006€2.6m€1.5m€0.2m€0.09m-2025
ELDIAUR Wezembeek-Oppem2006€2.4m€2.4m€0.2m€0.2m-2025
K.K.M.C. Landen2006€2.3m€0.3m€0.2m€0.03m02025
CLAES PROJECTS Keerbergen2010€2.7m€1.0m€0.2m€0.07m-2026
PVR INVEST Keerbergen2007€2.9m-€0.8m€0.2m€0.004m-2025

They were chosen from the 54,697 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 44 lines

Source: Annual accounts 2025 at the NBB, filed on 31-07-2026.

Balance sheet Code20242025
Assets
Total assets20/58€2.8m€2.8m▲
Fixed assets21/28€2.7m€2.7m▼
Tangible fixed assets22/27€0.6m€0.6m▼
Land and buildings22€0.4m€0.4m▼
Furniture and vehicles24€0.01m€0.04m▲
Other tangible fixed assets26€0.1m€0.1m▼
Financial fixed assets28€2.1m€2.1m=
Current assets29/58€0.09m€0.1m▲
Amounts receivable within one year40/41€0.01m€0.03m▲
Trade receivables40€0.005m€0.03m▲
Other amounts receivable41€0.008m-
Cash at bank and in hand54/58€0.08m€0.08m▲
Equity and liabilities
Total equity and liabilities10/49€2.8m€2.8m▲
Equity10/15€2.2m€2.2m▲
Contributions10/11€0.4m€0.4m=
Reserves13€0.5m€0.6m▲
Distributable reserves133€0.5m€0.6m▲
Profit (loss) carried forward14€1.2m€1.2m▲
Amounts payable17/49€0.6m€0.5m▼
Amounts payable after more than one year17€0.4m€0.4m▼
Financial debts170/4€0.1m€0.1m▼
Other amounts payable178/9€0.3m€0.3m=
Amounts payable within one year42/48€0.2m€0.2m▼
Current portion of amounts payable after more than one year42€0.03m€0.02m▼
Trade debts44€0.005m€0.01m▲
Suppliers440/4€0.005m€0.01m▲
Taxes, remuneration and social security45€0.02m€0.04m▲
Taxes450/3€0.02m€0.04m▲
Other amounts payable47/48€0.2m€0.09m▼
Accrued charges and deferred income492/3-€0.001m
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.05m€0.06m▲
Other operating charges640/8€0.003m€0.003m▲
Gross operating margin9900€0.1m€0.2m▲
Operating profit (loss)9901€0.08m€0.1m▲
Financial charges65/66B€0.009m€0.007m▼
Recurring financial charges65€0.009m€0.007m▼
Profit (loss) for the period before taxes9903€0.07m€0.1m▲
Income taxes67/77€0.03m€0.04m▲
Profit (loss) for the period9904€0.05m€0.09m▲
Profit (loss) for the period to be appropriated9905€0.05m€0.09m▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.3m€1.3m▲
Profit (loss) brought forward from the previous period14P€1.2m€1.2m▲
Transfer to equity691/2€0.05m€0.09m▲
To other reserves6921€0.05m€0.09m▲

The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Line20182019202020212022202320242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€45,707€52,620€50,235€50,670€45,009€50,467€52,938€63,385▲ 19.7%
Other operating charges640/8---€5,806€4,139€2,304€3,024€3,264▲ 8.0%
Gross operating margin9900€305,192€60,794€153,871€150,571€81,533€158,344€138,893€205,592▲ 48.0%
Operating profit (loss)9901€256,972€4,933€98,495€94,094€32,385€105,573€82,931€138,943▲ 67.5%
Financial income75/76B---€19€25----
Recurring financial income75€0€1€33€19€25----
Financial charges65/66B---€11,388€10,020€10,234€9,425€7,264▼ 22.9%
Recurring financial charges65€40,238€14,701€13,676€11,388€10,020€10,234€9,425€7,264▼ 22.9%
Profit (loss) for the period before taxes9903€216,734-€9,768€84,852€82,726€22,390€95,340€73,506€131,678▲ 79.1%
Income taxes67/77€80,297€793€23,371€30,551€7,376€31,888€25,630€43,783▲ 70.8%
Profit (loss) for the period9904€136,437-€10,561€61,480€52,175€15,014€63,452€47,876€87,895▲ 83.6%
Profit (loss) for the period to be appropriated9905€136,437-€10,561€61,480€52,175€15,014€63,452€47,876€87,895▲ 83.6%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€2.9m€2.8m€2.8m€2.7m€2.8m€2.8m€2.8m€2.8m▲ 0.7%
Fixed assets21/28€2.8m€2.7m€2.7m€2.7m€2.7m€2.7m€2.7m€2.7m▼ 0.4%
Tangible fixed assets22/27€0.7m€0.6m€0.6m€0.6m€0.6m€0.6m€0.6m€0.6m▼ 2.0%
Land and buildings22---€0.6m€0.6m€0.4m€0.4m€0.4m▼ 9.3%
Furniture and vehicles24---€0.001m€0.002m€0.002m€0.01m€0.04m▲ 203%
Other tangible fixed assets26---€0.003m€0.001m€0.1m€0.1m€0.1m▼ 2.0%
Financial fixed assets28€2.1m€2.1m€2.1m€2.1m€2.1m€2.1m€2.1m€2.1m=
Current assets29/58€0.1m€0.1m€0.07m€0.04m€0.04m€0.08m€0.09m€0.1m▲ 33.6%
Amounts receivable within one year40/41€0.01m€0.04m€0.06m€0.02m€0.03m€0.06m€0.01m€0.03m▲ 160%
Trade receivables40----€0.001m€0.01m€0.005m€0.03m▲ 570%
Other amounts receivable41---€0.02m€0.03m€0.04m€0.008m--
Cash at bank and in hand54/58€0.1m€0.07m€0.01m€0.01m€0.004m€0.02m€0.08m€0.08m▲ 11.5%
Deferred charges and accrued income490/1----€0.001m----
Equity and liabilities
Total equity and liabilities10/49€2.9m€2.8m€2.8m€2.7m€2.8m€2.8m€2.8m€2.8m▲ 0.7%
Equity10/15€2.0m€2.0m€2.0m€2.0m€2.0m€2.1m€2.2m€2.2m▲ 4.1%
Contributions10/11€0.4m€0.4m-€0.4m€0.4m€0.4m€0.4m€0.4m=
Contributions outside capital11---€0.4m-----
Other1109/19---€0.4m-----
Reserves13€0.4m€0.4m€0.4m€0.4m€0.4m€0.5m€0.5m€0.6m▲ 16.1%
Non-distributable reserves130/1---€0.04m€0.04m----
Reserves not available under the articles1311---€0.04m€0.04m----
Distributable reserves133---€0.4m€0.4m€0.5m€0.5m€0.6m▲ 16.1%
Profit (loss) carried forward14€1.2m€1.2m€1.2m€1.2m€1.2m€1.2m€1.2m€1.2m▲ 0.1%
Amounts payable17/49€0.9m€0.9m€0.8m€0.7m€0.7m€0.7m€0.6m€0.5m▼ 11.6%
Amounts payable after more than one year17€0.6m€0.5m€0.5m€0.5m€0.4m€0.4m€0.4m€0.4m▼ 4.8%
Financial debts170/4---€0.2m€0.2m€0.2m€0.1m€0.1m▼ 14.0%
Other amounts payable178/9---€0.3m€0.3m€0.3m€0.3m€0.3m=
Amounts payable within one year42/48€0.3m€0.3m€0.3m€0.2m€0.3m€0.3m€0.2m€0.2m▼ 24.1%
Current portion of amounts payable after more than one year42---€0.03m€0.04m€0.03m€0.03m€0.02m▼ 29.9%
Trade debts44€0.1m€0.02m€142€0.02m€0.006m€0.002m€0.005m€0.01m▲ 109%
Suppliers440/4---€0.02m€0.006m€0.002m€0.005m€0.01m▲ 109%
Taxes, remuneration and social security45---€0.01m€0.02m€0.02m€0.02m€0.04m▲ 123%
Taxes450/3---€0.01m€0.01m€0.02m€0.02m€0.04m▲ 123%
Remuneration and social security454/9----€0.02m----
Other amounts payable47/48---€0.1m€0.2m€0.2m€0.2m€0.09m▼ 44.5%
Accrued charges and deferred income492/3-------€0.001m-
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€136,437-€10,561€61,480€52,175€15,014€63,452€47,876€87,895▲ 83.6%
+ Depreciation and write-downs630€45,707€52,620€50,235€50,670€45,009€50,467€52,938€63,385▲ 19.7%
Operating cash flow (approximation)€182,144€42,059€111,715€102,846€60,023€113,919€100,813€151,280▲ 50.1%
Investment in fixed assets (approximation)--€37,260-€24,875-€9,695-€95,605-€18,403-€28,955-€51,852▼ 79.1%
Change in cash--€44,673-€50,782-€2,274-€8,176€18,855€52,417€8,727▼ 83.3%

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 18 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 abbreviated format 31-07-2026 2026-00365312 NBB
31-12-2024 abbreviated format 25-07-2025 2025-00307298 PDF
31-12-2023 abbreviated format 30-09-2024 2024-00479695 PDF
31-12-2022 abbreviated format 31-07-2023 2023-00294380 PDF
31-12-2021 abbreviated format 31-08-2022 2022-20371029 PDF
31-12-2020 abbreviated format 30-09-2021 2021-71100140 PDF
31-12-2019 abbreviated format 30-10-2020 2020-66600551 PDF
31-12-2018 abbreviated format 30-08-2019 2019-57900234 PDF
31-12-2017 abbreviated format 29-08-2018 2018-55800335 PDF
31-12-2016 abbreviated format 12-07-2017 2017-31000601 PDF

Show all 18 filings

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