TK
ActiveSummary
TK has been active since 2000 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €12.5m and a net result of €419,011. Equity is growing by about 8.5% per year across the filed financial years. Its solvency ranks better than 80% of 57 sector peers (NACE 92, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
- Staff
- 20.1 FTE
- Equity
- €12.5m
- Profit
- €419,011
- Holdings
- 4
Why 94lowers riskFounded in 2000Equity €12.5m (85.6% of total assets)Liquidity: current ratio 5.30, cash €1.5mFigures for financial year 2025 (filed 30-07-2026)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 92): better than 87% on solvency, 71% on liquidity, 39% on profitability and 14% on growth.
The bankruptcy probability was computed on 26-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 14 days after the deadline; the sector median (NACE 92) for financial year 2024 is on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · full…
- Resignation: Jonathan THOMAS (director)Director discharge · Board rule
- Annual accounts filedfinancial year 2024 · full…
Financials · financial year 2025, full format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has fallen two years in a row; 2025 is 62% below 2024 and is the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 92, Gambling and betting activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Peer companies
Historical observationOf the 14,766 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96.1% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 14,766 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | €0 | €0 | - | - | - | €0 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | - | €0 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.5m | €1.0m | €1.1m | €1.1m | €1.2m | ▲ 5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 4.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €0.006m | €0.02m | -€0.006m | -€0.001m | ▲ 92.1% |
| Other operating charges640/8 | - | - | - | €0.3m | €0.7m | €1.1m | €1.4m | €2.0m | ▲ 41.8% |
| Non-recurring operating charges66A | - | - | - | €0.001m | €0.03m | - | €0.005m | €161 | ▼ 96.9% |
| Gross operating margin9900 | €1.8m | €2.1m | €1.1m | €2.2m | €4.2m | €5.1m | €5.1m | €4.3m | ▼ 15.8% |
| Operating profit (loss)9901 | €0.2m | €0.3m | €0.08m | €1.1m | €2.2m | €2.6m | €2.3m | €0.9m | ▼ 62.1% |
| Financial income75/76B | - | - | - | €0.03m | €0.03m | €0.07m | €0.3m | €0.3m | ▲ 35.0% |
| Recurring financial income75 | €0.04m | €0.07m | €0.03m | €0.03m | €0.03m | €0.07m | €0.3m | €0.3m | ▲ 8.1% |
| Non-recurring financial income76B | - | - | - | - | - | €0 | €0 | €0.07m | - |
| Financial charges65/66B | - | - | - | €0.03m | €0.5m | €0.06m | €0.09m | €0.1m | ▲ 73.5% |
| Recurring financial charges65 | €0.04m | €0.08m | €0.02m | €0.03m | €0.5m | €0.06m | €0.09m | €0.1m | ▲ 73.5% |
| Profit (loss) for the period before taxes9903 | €0.2m | €0.3m | €0.09m | €1.1m | €1.8m | €2.6m | €2.5m | €1.1m | ▼ 56.8% |
| Income taxes67/77 | €0.07m | €0.09m | €0.05m | €0.3m | €0.6m | €0.8m | €0.9m | €0.7m | ▼ 23.1% |
| Profit (loss) for the period9904 | €0.2m | €0.2m | €0.04m | €0.8m | €1.2m | €1.9m | €1.6m | €0.4m | ▼ 74.5% |
| Transfer from tax-exempt reserves789 | - | - | - | €0.06m | €0.09m | - | - | €0.06m | - |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | €0.8m | €0.8m | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.07m | €0.2m | €0.04m | €0.8m | €1.3m | €1.0m | €0.8m | €0.5m | ▼ 40.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €8.3m | €8.5m | €8.5m | €9.5m | €11.1m | €12.9m | €14.2m | €14.6m | ▲ 2.6% |
| Fixed assets21/28 | €2.3m | €2.2m | €2.8m | €2.8m | €2.9m | €2.9m | €3.2m | €3.6m | ▲ 11.6% |
| Intangible fixed assets21 | €0.2m | €0.1m | €0.1m | €0.07m | €0.05m | €0.02m | €0.003m | €0.001m | ▼ 80.6% |
| Tangible fixed assets22/27 | €0.9m | €0.8m | €0.8m | €0.8m | €0.9m | €1.0m | €0.9m | €1.2m | ▲ 30.9% |
| Land and buildings22 | - | - | - | €0.5m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 8.9% |
| Plant, machinery and equipment23 | - | - | - | €0.2m | €0.4m | €0.3m | €0.4m | €0.7m | ▲ 93.8% |
| Furniture and vehicles24 | - | - | - | €0.07m | €0.1m | €0.1m | €0.09m | €0.07m | ▼ 18.4% |
| Other tangible fixed assets26 | - | - | - | €0 | €0 | €0.07m | €0.06m | €0.06m | ▼ 9.5% |
| Financial fixed assets28 | €1.3m | €1.3m | €1.9m | €1.9m | €1.9m | €1.9m | €2.3m | €2.4m | ▲ 4.3% |
| Current assets29/58 | €6.0m | €6.4m | €5.7m | €6.8m | €8.3m | €10.0m | €11.0m | €11.0m | = |
| Amounts receivable after more than one year29 | - | - | - | €1.2m | €1.2m | €1.5m | €1.4m | €1.7m | ▲ 15.5% |
| Other amounts receivable291 | - | - | - | €1.2m | €1.2m | €1.5m | €1.4m | €1.7m | ▲ 15.5% |
| Stocks and contracts in progress3 | €0.02m | €0.03m | €0.02m | €0.02m | €0.02m | €0.02m | €0.03m | €0.02m | ▼ 23.2% |
| Stocks30/36 | - | - | - | €0.02m | €0.02m | €0.02m | €0.03m | €0.02m | ▼ 23.2% |
| Amounts receivable within one year40/41 | €0.8m | €1.1m | €0.6m | €0.7m | €0.3m | €0.4m | €0.6m | €0.2m | ▼ 67.3% |
| Trade receivables40 | - | - | - | €0.03m | €0.006m | €0.02m | €0.04m | €0.05m | ▲ 43.7% |
| Other amounts receivable41 | - | - | - | €0.7m | €0.2m | €0.3m | €0.6m | €0.1m | ▼ 74.5% |
| Current investments50/53 | €1.8m | €2.0m | €2.0m | €2.0m | €2.0m | €5.0m | €6.0m | €7.1m | ▲ 18.6% |
| Cash at bank and in hand54/58 | €1.8m | €1.8m | €1.9m | €2.4m | €4.4m | €2.7m | €2.4m | €1.5m | ▼ 38.0% |
| Deferred charges and accrued income490/1 | - | - | - | €0.4m | €0.4m | €0.5m | €0.5m | €0.5m | ▲ 3.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €8.3m | €8.5m | €8.5m | €9.5m | €11.1m | €12.9m | €14.2m | €14.6m | ▲ 2.6% |
| Equity10/15 | €8.0m | €8.2m | €8.2m | €8.9m | €9.9m | €11.5m | €13.1m | €12.5m | ▼ 4.7% |
| 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 | €7.9m | €8.1m | €8.1m | €8.8m | €9.8m | €11.4m | €13.1m | €12.5m | ▼ 4.7% |
| Non-distributable reserves130/1 | - | - | - | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | = |
| Legal reserve130 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Other1319 | - | - | - | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | = |
| Tax-exempt reserves132 | - | - | - | €0.09m | €0 | €0.8m | €1.7m | €1.6m | ▼ 3.3% |
| Distributable reserves133 | - | - | - | €8.0m | €9.0m | €9.8m | €10.6m | €10.1m | ▼ 5.2% |
| Profit (loss) carried forward14 | - | - | €0.04m | - | - | - | - | - | - |
| Amounts payable17/49 | €0.3m | €0.3m | €0.2m | €0.6m | €1.3m | €1.4m | €1.1m | €2.1m | ▲ 89.3% |
| Amounts payable within one year42/48 | €0.3m | €0.3m | €0.2m | €0.6m | €1.3m | €1.3m | €1.1m | €2.1m | ▲ 92.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.01m | €0.08m | €0.1m | €0.1m | €0.1m | = |
| Financial debts43 | - | - | - | - | - | - | €0 | - | - |
| Credit institutions430/8 | - | - | - | - | - | - | €0 | - | - |
| Trade debts44 | €0.04m | €0.05m | €0.02m | €0.2m | €0.3m | €0.4m | €0.5m | €0.6m | ▲ 20.7% |
| Suppliers440/4 | - | - | - | €0.2m | €0.3m | €0.4m | €0.5m | €0.6m | ▲ 20.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.6m | €0.4m | €0.2m | €0.2m | ▲ 9.0% |
| Taxes450/3 | - | - | - | €0.2m | €0.4m | €0.2m | €0.06m | €0.06m | ▲ 12.7% |
| Remuneration and social security454/9 | - | - | - | €0.09m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 7.4% |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.4m | €0.4m | €0.2m | €1.1m | ▲ 365% |
| Accrued charges and deferred income492/3 | - | - | - | €0.03m | €0 | €0.08m | €0.03m | €0.02m | ▼ 44.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.2m | €0.2m | €0.04m | €0.8m | €1.2m | €1.9m | €1.6m | €0.4m | ▼ 74.5% |
| + Depreciation and write-downs630 | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 4.8% |
| Operating cash flow (approximation) | €0.4m | €0.5m | €0.2m | €1.0m | €1.4m | €2.1m | €1.9m | €0.7m | ▼ 65.1% |
| Investment in fixed assets (approximation) | - | -€0.1m | -€0.8m | -€0.2m | -€0.3m | -€0.2m | -€0.6m | -€0.6m | ▼ 5.6% |
| Change in cash | - | -€0.07m | €0.09m | €0.6m | €1.9m | -€1.7m | -€0.2m | -€0.9m | ▼ 290% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 30-07-2026 | 2026-00353327 |
| 31-12-2024 | full format | 28-08-2025 | 2025-00420268 |
| 31-12-2023 | full format | 29-08-2024 | 2024-00392350 |
| 31-12-2022 | full format | 11-07-2023 | 2023-00224572 |
| 31-12-2021 | full format | 01-07-2022 | 2022-20120799 |
| 31-12-2020 | full format | 31-08-2021 | 2021-60900473 |
| 31-12-2019 | full format | 28-09-2020 | 2020-56400376 |
| 31-12-2018 | full format | 30-08-2019 | 2019-59200355 |
| 31-12-2017 | full format | 31-08-2018 | 2018-58600055 |
| 31-12-2016 | full format | 24-08-2017 | 2017-48200279 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Jonathan THOMAS |
|
Owners and capital
Capital and shareholders
- 11-01-2024 Capital stated in the deed · €62,000 · 330 shares
Group and network
Holdings and subsidiaries
4 holdingsHoldings 4
Source for every holding own accounts 2025
- BG - La BrasseriesubsidiaryEquity €15,881Result -€6,251100%
- SA AMUSEMENT WITH PRIZEsubsidiaryEquity €1.5mResult €91,646100%
- L'ARISTOsubsidiaryEquity €521,932Result €59,50899.92%
- Equity -€23,049Result -€29,51649.5%
According to the 2025 annual accounts of TK and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Connections & network
7 connected companiesShow 3 more companies with a shared director
History
Acts, filings and financial milestones
10-03
Gazette deed
Resignation: Jonathan THOMAS (director)Director discharge · Board rule4 facts ▸
- General meeting, 18-11-2025
- Director resignation, Jonathan THOMAS (director)
- Director discharge, Jonathan THOMAS (director)
- Board rule, 2, “unanimité des voix” (deed in French)
11-01
Gazette deed
Permanent representative: Michel THOMASAmendment of the articles · Capital · Registered office clause8 facts ▸
- General meeting, 28-12-2023
- Amendment of the articles
- Capital, €62,000
- Other provision, “loi, prise d'effet des dispositions finales” (deed in French)
- Registered office clause, “6730 Tintigny, Rue des Artisans 2” (deed in French)
- Other provision, “info@madisoncasino.be, site internet et adresse électronique” (deed in French)
- Power of attorney
- Permanent representative, Michel THOMAS
Show earlier events
About the unread acts
Of the 8 Belgian Official Gazette deeds we know for this company, 2 have been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 26 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Food safety, FASFC
5 sitesShow 1 more site
Legal Entity Identifier
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
6 establishment units
5 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 85039C0469/00B000 | Wallonia | 4,000 m² | 1 · 1,486 m² | 9.5 m · 2 |
| 81015D0120/00W002 | Wallonia | 1,183 m² | 1 · 197 m² | 5.9 m · 1 |
| 81005G1396/00N000 | Wallonia | 799 m² | 1 · 358 m² | - |
| 82302C0214/00H000indicative | Wallonia | 663 m² | 1 · 165 m² | - |
| 64065C0164/00H000 | Wallonia | 393 m² | 1 · 390 m² | 7.2 m · 2 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “L’exploitation d’établissement de jeux de hasard de classe II ou salles de jeux automatiques, conformément à la loi du 07 mai 1999 sur les…” (deed in French)
2 activities (deed in French)
- L’exploitation d’établissement de jeux de hasard de classe II ou salles de jeux automatiques, conformément à la loi du 07 mai 1999 sur les jeux de hasard, les établissements de jeux de hasard et la protection des joueurs,
- L’exploitation de débits de boisson.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- TK
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne, établir ou supprimer sièges administratifs, agences, ateliers, dépôts et succursales tant en Belgique qu’à l’étranger” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Composition du conseil d'administration, 15” (deed in French)
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- One provision in the deed
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Modifications aux statuts, assemblée générale” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Organe d'administration en fonction comme collège de liquidateurs, dissolution-clôture en un seul acte” (deed in French)“Majorité des voix, assemblée générale en décide autrement” (deed in French)“Possible moyennant conditions article 2:80 du Code des Sociétés et des Associations” (deed in French)1 more provision on this in the deed