TK
ActiveFrom the official registers: KBO 7 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
TK has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €75,133 and a net result of €21,654. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 73% of 22,726 sector peers (NACE 47, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Overview
Official details
KBO- Status
- Active since 20-03-2019 Normal situation
- Legal form
- Private limited company
- Registered office
- Brederodestraat 153, 2018 Antwerpen
- Activity
- Retail sale of bread and pastry (bakery outlets) NACE 47241
- Establishment units
- 2.286.669.783 2018 Antwerpen, since 20-03-2019
- 2.388.395.366 2018 Antwerpen, since 01-06-2026
- Financial year end
- 31 December
- Peppol
- Reachable since 01-09-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.6%
- Turnover
- €387,461
- ▲ 14.2%
- Profit
- €21,654
- ▼ 34.9%
- Equity
- €75,133
- ▲ 40.5%
- Total assets
- €123,437
- ▲ 27.5%
- Staff
- ≈ 3 FTE
- estimated
Score breakdownraises riskSize: turnover €387,461, total assets €123,4371 of the last 3 accounts latelowers riskLiquidity: current ratio 2.26, cash €58,241Equity €75,133 (60.9% of total assets)Show the evidence
Checked score
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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 47, micro). It does better than 74% of them on solvency, 85% on liquidity, 68% on profitability and 77% on growth.
The bankruptcy probability was computed on 31-10-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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Signals
The company filed its last 7 accounts on average 6 days before the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
Financials · financial year 2025, micro format
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 07-07-2026
- Format
- micro format
- Reference
- 2026-00262003
Amounts without an identifiable currency are taken as euros.
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result for 2025 is 42% lower than in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Retail trade (NACE 47). 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).
Companies with the same profile, two years later
Historical observationIn July 2024, 26,972 companies had the same profile as TK has now. Two years later, 1.6% had gone bankrupt and 94.9% were still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of TK itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 26,972 companies, not a prediction for TK. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | €75,651 | €91,649 | €95,424 | €137,684 | - | €339,374 | €387,461 | ▲ 14.2% |
| Goods, raw materials, services and sundry goods60/61 | - | - | €85,279 | €95,037 | - | €197,720 | €241,662 | ▲ 22.2% |
| Remuneration, social security and pensions62 | - | - | - | €33,175 | €71,577 | €90,204 | €110,953 | ▲ 23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,574 | €4,289 | €5,036 | €5,522 | €3,742 | €2,932 | €4,888 | ▲ 66.7% |
| Other operating charges640/8 | - | - | €2,363 | €3,863 | €1,755 | €643 | €2,340 | ▲ 264% |
| Gross operating margin9900 | €6,131 | €8,659 | €10,263 | €42,913 | €82,370 | €141,654 | €145,896 | ▲ 3.0% |
| Operating profit (loss)9901 | €517 | €1,305 | €2,865 | €354 | €5,296 | €47,876 | €27,717 | ▼ 42.1% |
| Financial income75/76B | - | - | - | €0 | €209 | €786 | €582 | ▼ 26.0% |
| Recurring financial income75 | €28 | - | - | €0 | €209 | €786 | €582 | ▼ 26.0% |
| Financial charges65/66B | - | - | €151 | €231 | €202 | €134 | €424 | ▲ 216% |
| Recurring financial charges65 | €37 | €63 | €151 | €231 | €202 | €134 | €424 | ▲ 216% |
| Profit (loss) for the period before taxes9903 | €509 | €1,242 | €2,714 | €123 | €5,303 | €48,528 | €27,874 | ▼ 42.6% |
| Income taxes67/77 | €149 | - | €556 | - | €1,170 | €15,263 | €6,220 | ▼ 59.2% |
| Profit (loss) for the period9904 | €360 | €1,242 | €2,157 | €123 | €4,133 | €33,264 | €21,654 | ▼ 34.9% |
| Profit (loss) for the period to be appropriated9905 | €360 | €1,242 | €2,157 | €123 | €4,133 | €33,264 | €21,654 | ▼ 34.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €24,276 | €28,253 | €22,517 | €28,853 | €41,949 | €96,784 | €123,437 | ▲ 27.5% |
| Fixed assets21/28 | €17,871 | €13,582 | €12,246 | €6,724 | €5,076 | €5,119 | €14,088 | ▲ 175% |
| Tangible fixed assets22/27 | €17,871 | €13,582 | €12,246 | €6,724 | €5,076 | €5,119 | €14,088 | ▲ 175% |
| Plant, machinery and equipment23 | - | - | - | - | €831 | €2,208 | €1,179 | ▼ 46.6% |
| Furniture and vehicles24 | - | - | €4,960 | €2,671 | €3,425 | €2,910 | €12,909 | ▲ 344% |
| Other tangible fixed assets26 | - | - | €7,287 | €4,053 | €820 | - | - | - |
| Current assets29/58 | €6,405 | €14,671 | €10,271 | €22,129 | €36,874 | €91,665 | €109,349 | ▲ 19.3% |
| Stocks and contracts in progress3 | €1,110 | €1,801 | €2,402 | €5,004 | €5,213 | €26,006 | €29,507 | ▲ 13.5% |
| Stocks30/36 | - | - | €2,402 | €5,004 | €5,213 | €26,006 | €29,507 | ▲ 13.5% |
| Amounts receivable within one year40/41 | €4,775 | €8 | €3,455 | €8 | €7,646 | €18,197 | €20,391 | ▲ 12.1% |
| Trade receivables40 | - | - | €2,675 | - | - | €10,947 | €20,391 | ▲ 86.3% |
| Other amounts receivable41 | - | - | €780 | €8 | €7,646 | €7,250 | - | - |
| Cash at bank and in hand54/58 | €520 | €12,863 | €4,414 | €17,117 | €24,014 | €47,462 | €58,241 | ▲ 22.7% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | €1,209 | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €24,276 | €28,253 | €22,517 | €28,853 | €41,949 | €96,784 | €123,437 | ▲ 27.5% |
| Equity10/15 | €12,560 | €13,802 | €15,959 | €14,369 | €20,214 | €53,479 | €75,133 | ▲ 40.5% |
| Contributions10/11 | €12,200 | €12,200 | €12,200 | €10,488 | €12,200 | €12,200 | €12,200 | = |
| Capital10 | - | - | €12,200 | €10,488 | - | - | - | - |
| Issued capital100 | - | - | €18,600 | €16,888 | - | - | - | - |
| Uncalled capital101 | - | - | €6,400 | €6,400 | - | - | - | - |
| Reserves13 | €360 | €1,602 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | - | - | €1,899 | €2,022 | €6,154 | €39,419 | €61,073 | ▲ 54.9% |
| Amounts payable17/49 | €11,716 | €14,451 | €6,558 | €14,484 | €21,735 | €43,305 | €48,305 | ▲ 11.5% |
| Amounts payable within one year42/48 | €11,716 | €14,451 | €6,558 | €14,484 | €21,735 | €43,305 | €48,305 | ▲ 11.5% |
| Trade debts44 | - | €2,024 | €3,127 | €6,175 | €7,120 | €18,000 | €20,425 | ▲ 13.5% |
| Suppliers440/4 | - | - | €3,127 | €6,175 | €7,120 | €18,000 | €20,425 | ▲ 13.5% |
| Taxes, remuneration and social security45 | - | - | €308 | €6,864 | €14,407 | €25,105 | €26,732 | ▲ 6.5% |
| Taxes450/3 | - | - | €308 | €3,367 | €3,937 | €18,069 | €22,602 | ▲ 25.1% |
| Remuneration and social security454/9 | - | - | - | €3,496 | €10,470 | €7,036 | €4,129 | ▼ 41.3% |
| Other amounts payable47/48 | - | - | €3,122 | €1,445 | €208 | €200 | €1,148 | ▲ 474% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €360 | €1,242 | €2,157 | €123 | €4,133 | €33,264 | €21,654 | ▼ 34.9% |
| + Depreciation and write-downs630 | €3,574 | €4,289 | €5,036 | €5,522 | €3,742 | €2,932 | €4,888 | ▲ 66.7% |
| Operating cash flow (approximation) | €3,934 | €5,531 | €7,193 | €5,645 | €7,875 | €36,196 | €26,542 | ▼ 26.7% |
| Investment in fixed assets (approximation) | - | €0 | -€3,700 | €0 | -€2,094 | -€2,975 | -€13,857 | ▼ 366% |
| Change in cash | - | €12,343 | -€8,448 | €12,703 | €6,897 | €23,447 | €10,780 | ▼ 54.0% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 07-07-2026 | 2026-00262003 | NBB |
| 31-12-2024 | micro format | 24-09-2025 | 2025-00500614 | |
| 31-12-2023 | micro format | 24-07-2024 | 2024-00276687 | |
| 31-12-2022 | micro format | 26-06-2023 | 2023-00157649 | |
| 31-12-2021 | micro format | 30-06-2022 | 2022-20140858 | |
| 31-12-2020 | micro format | 02-07-2021 | 2021-30500519 | |
| 31-12-2019 | micro format | 26-08-2020 | 2020-45300222 |
Comparable companies
These companies have the same main activity as TK: retail sale of bread and pastry (bakery outlets) (NACE 47241). They are comparable in size and age: total assets between €103,000 and €166,000, founded between 2018 and 2021.
| Company | Founded | Total assets | Equity | Gross margin | Turnover | Net result | Financial year |
|---|---|---|---|---|---|---|---|
| TK Antwerpen | 2019 | €123,437 | €75,133 | €145,896 | €387,461 | €21,654 | 2025 |
| BAKKERIJ HEIDE Kalmthout | 2018 | €103,314 | -€24,776 | €144,453 | - | -€5,482 | 2025 |
| AOH Sint-Jans-Molenbeek | 2019 | €126,188 | €50,981 | €147,245 | - | €8,954 | 2025 |
| DE ZOTTE MORGEN Mechelen | 2021 | €128,521 | €14,740 | €154,257 | - | -€35,651 | 2025 |
| Bakkerij De Lelie Antwerpen | 2019 | €166,322 | €94,839 | €170,986 | - | €18,385 | 2025 |
| ASIYE Antwerpen | 2021 | €149,260 | €114,669 | €144,056 | - | €41,563 | 2025 |
| Chef Farini Antwerpen | 2020 | €112,755 | €54,048 | €99,709 | - | -€9,731 | 2025 |
They were chosen from the 1,165 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| Kalemciler Turgay |
|
Owners and capital
Capital transactions
- 20-12-2023 Converted to unavailable equity
- 20-12-2023 Converted to available equity
Other provisions of the articles of association
- Other provisionsThese rules from the articles cover subjects other than the board, the shares, the purpose and the meetings.
- 1 more provision in the deed, see the deed of 20-12-2023
Articles of association, deed of 20-12-2023 (in Dutch)
Group and network
Connections & network
1 current directorThe network starts from the directors of TK. Every other company they run is a node.
History
Acts, filings and financial milestones
20-12
Gazette deed
Purpose · Amendment of the articles · Legal-form change · Resignations & appointments · MiscellaneousCapital conversion · Registered office clause · Purpose change7 points ▸
- Amendment of the articles, mentioned 3 times in the deed
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Capital conversion, “beschikbare eigen vermogensrekening” (deed in Dutch)
- Registered office clause, “2018 Antwerpen, Brederodestraat 153, algemene vergadering” (deed in Dutch)
- Purpose change
- Other provision, “bestuurder” (deed in Dutch)
- Other provision, “bestuursorgaan ongewijzigd, geen wijzigingen aan huidig bestuursorgaan” (deed in Dutch)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Invoicing and payment
Financial year and general meeting
Accounts at the NBBThe scores and ratios are Checked's own calculations, not a credit decision.
Recognitions · licences · registrations
Food safety, FASFC
2 sitesEnvironmental permits: No permit applications found in Flanders.
Sites & property
2 establishment units
Buildings and parcels at the addresses
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11811L3805/00C002 | Flanders | 123 m² | 1 · 123 m² | 16.3 m · 5 |
| 11811L3804/00R002 | Flanders | 118 m² | 1 · 118 m² | 15.5 m · 4 |