TISMAN CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of TISMAN CONSTRUCT is 2.7% (moderate). The 2025 annual accounts show equity of €22k and a net result of €-3k. Equity is growing by ~22.9% per year across the filed fiscal years. Its solvency ranks better than 47% of 2198 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability62▼-38
Solvency60▼-9
Growth52▼-26
Track record94
Bankruptcy probability, 12 months
2.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity tight (current ratio 1.47 against 1.7 in 2024; short-term debt: 39.1% and cash: 5% of total assets), and 64.8% 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 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
35.2%
Return on assets
-5.2%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-07-2026, 17 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
17 d early
2024
4 d early
2023
70 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€22k▼ 12.9%
2024 · €25k
Total assets
€62k▲ 9.3%
2024 · €57k
Net result
€-3k
2024 · €33k
Working capital
€11k▼ 48.4%
2024 · €22k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202320242025
Operating result€12k-€34k▲ 177%€8k▼ 75.6%
Net result€11k-€33k▲ 212%€-3k
Equity€12k-€25k▲ 112%€22k▼ 12.9%
Total assets€62k-€57k▼ 8.6%€62k▲ 9.3%
Debt€50k-€32k▼ 36.9%€40k▲ 26.9%
Working capital€9k-€22k▲ 133%€11k▼ 48.4%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 76% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €62k
Fixed assets
€26k ▲ 789%
Current assets
€36k ▼ 33.7%
Equity and liabilities €62k
Equity
€22k ▼ 12.9%
Debt
€40k ▲ 26.9%
Debt's share of the balance-sheet total rises from 55.8% to 64.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€15k▼
2024 · €36k
Cash flow
€3k▼
2024 · €35k
Current ratio
1.47▼
2024 · 1.70
Debt to equity
1.84▲
2024 · 1.26
ROE
-14.9%▼
2024 · 132.8%
ROA
-5.2%▼
2024 · 58.6%
Interest coverage
18.48▼
2024 · 105.55
Debt ≤ 1 year
€24k▼
2024 · €32k
Debt > 1 year
€16k
Income taxes
€11k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1k | €2k | €7k | ▲ 224% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €49k | - |
| Other operating charges640/8 | €4k | €1k | €3k | ▲ 113% |
| Gross operating margin9900 | €17k | €37k | €66k | ▲ 79.5% |
| Operating profit (loss)9901 | €12k | €34k | €8k | ▼ 75.6% |
| Financial income75/76B | - | - | €1 | - |
| Recurring financial income75 | - | - | €1 | - |
| Financial charges65/66B | €1k | €338 | €806 | ▲ 139% |
| Recurring financial charges65 | €1k | €338 | €806 | ▲ 139% |
| Profit (loss) for the period before taxes9903 | €11k | €33k | €7k | ▼ 77.8% |
| Income taxes67/77 | - | - | €11k | - |
| Profit (loss) for the period9904 | €11k | €33k | €-3k | ▼ 110% |
| Profit (loss) for the period to be appropriated9905 | €11k | €33k | €-3k | ▼ 110% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €62k | €57k | €62k | ▲ 9.3% |
| Fixed assets21/28 | €2k | €3k | €26k | ▲ 789% |
| Tangible fixed assets22/27 | €2k | €3k | €26k | ▲ 789% |
| Furniture and vehicles24 | €2k | €3k | €26k | ▲ 789% |
| Current assets29/58 | €60k | €54k | €36k | ▼ 33.7% |
| Amounts receivable within one year40/41 | €16k | €48k | €31k | ▼ 35.7% |
| Trade receivables40 | - | €25k | €8k | ▼ 69.0% |
| Other amounts receivable41 | €16k | €24k | €24k | ▼ 1.0% |
| Cash at bank and in hand54/58 | €44k | €5k | €3k | ▼ 41.6% |
| Deferred charges and accrued income490/1 | - | - | €1k | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €62k | €57k | €62k | ▲ 9.3% |
| Equity10/15 | €12k | €25k | €22k | ▼ 12.9% |
| Contributions10/11 | €1k | €1k | €1k | = |
| Outside capital11 | - | - | €1k | - |
| Other1109/19 | - | - | €1k | - |
| Reserves13 | €115 | €115 | €115 | = |
| Non-distributable reserves130/1 | €115 | €115 | €115 | = |
| Reserves not available under the articles1311 | €115 | €115 | €115 | = |
| Profit (loss) carried forward14 | €11k | €24k | €21k | ▼ 13.6% |
| Amounts payable17/49 | €50k | €32k | €40k | ▲ 26.9% |
| Amounts payable after more than one year17 | - | - | €16k | - |
| Financial debts170/4 | - | - | €16k | - |
| Amounts payable within one year42/48 | €50k | €32k | €24k | ▼ 23.5% |
| Current portion of amounts payable after more than one year42 | - | - | €4k | - |
| Trade debts44 | - | - | €5k | - |
| Suppliers440/4 | - | - | €5k | - |
| Advances received on contracts in progress46 | €18k | - | - | - |
| Taxes, remuneration and social security45 | - | - | €7k | - |
| Taxes450/3 | - | - | €3k | - |
| Remuneration and social security454/9 | - | - | €4k | - |
| Other amounts payable47/48 | €32k | €32k | €8k | ▼ 74.8% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €11k | €33k | €-3k | ▼ 110% |
| + Depreciation and write-downs630 | €1k | €2k | €7k | ▲ 224% |
| Operating cash flow (approximation) | €12k | €35k | €3k | ▼ 90.2% |
| Investment in fixed assets (approximation) | - | €-3k | €-30k | ▼ 1,015% |
| Change in cash | - | €-38k | €-2k | ▲ 94.3% |
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
Next filing, fiscal year 2026, expected by
2026
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €-3k
Net result drops to €-3k, the lowest in the series.
27-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2023net €33k ▲212%
Operating result €34k, net result €33k, both a record.
09-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 70 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are 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, Zaventem · 1 establishment unit since 2022
Ground area
609 m²
Building footprint
249 m²
Volume, LiDAR
1,950 m³
2 parcels, Flanders, Wallonia · tallest building 10.9 m, ±3 floors. Linked by address, not a title deed.
662
companies at this address
See who is registered here
1 establishment unit
TISMAN CONSTRUCT
since 20222.337.884.201
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23078A0472/00L000 | Flanders | 461 m² | 1 · 192 m² | 10.8 m · 3 fl. |
| 25082B0095/00D000 | Wallonia | 148 m² | 1 · 57 m² | 9.4 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,039. 11,749 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
Founded20-09-2022
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
41003General construction of other non-residential buildings
43310Plastering work
43410Roofing work
96220Beauty care and other beauty treatments
Scores and ratios are computed by Checked and are not a credit decision.