Equity
€4.6m ▲ 105%
TL WINTER has made a profit without a break since 2021.
TL WINTER
Lifetime
7 annual accounts with figures on one time axispeak €1.8m (2022)
-not published
lowest -€835,425 (2020)
€2.3m▲ 30.5%
peak €4.6m (2025)
€4.6m▲ 105%
€26.0m▲ 37.0%
peak 6.3 FTE (2025)
6.3 FTE▲ 63×
Board8 names since 2019
3 directorsFVO MANAGEMENT and 2 others
Owners
100%TL INTERNATIONAL
Documentsfilings and deeds
28-07-20263 days before the deadline
2025financial year
Turnover from €19.6m to €29.8mResult from €1.8m to €2.3mStaff from 0.1 FTE to 6.3 FTERegistered office moved within Antwerp 11-04Equity from €2.2m to €4.6mDebts from €19.0m to €26.0m
Key points
from the 2025 annual accountsDebts
€26.0m 85% of the balance sheet
Suppliers 35%Taxes and wages 2%Other 62%
Staff
6.3 FTE ▲ 63×
More staff in 2025 from 0.1 FTE to 6.3 FTE.
Payment terms
115 days to suppliers
TL WINTER pays its suppliers 24 days later than in 2024. Customers pay 51 days later.
Filings
7 annual accounts 1 late
The 2019 accounts came 125 days late. The other six were filed on time.
Position in the sector
€2.3m
Higher net result than 95% of companies in sports and recreation. Sector median €11,977 · 518 companies.
Checked score
68
Healthy
Financially stronger than 44% of micro companies in sports and recreation (NACE 93)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.8% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.3% across 4,270 companies (NACE 93, micro).
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025lowest value
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.4%▲ +0.2 percentage points vs 04-2025
06-2025: 0.5%▲ +0.1 percentage points vs 05-2025
07-2025: 0.7%▲ +0.2 percentage points vs 06-2025
08-2025: 0.7%● unchanged vs 07-2025
09-2025: 0.7%● unchanged vs 08-2025
10-2025: 0.7%● unchanged vs 09-2025
11-2025: 0.7%● unchanged vs 10-2025
12-2025: 0.7%● unchanged vs 11-2025
01-2026: 0.7%● unchanged vs 12-2025
02-2026: 0.7%● unchanged vs 01-2026
03-2026: 0.7%● unchanged vs 02-2026
04-2026: 0.7%● unchanged vs 03-2026
05-2026: 0.7%● unchanged vs 04-2026
06-2026: 0.8%▲ +0.1 percentage points vs 05-2026
07-2026: 0.8%● unchanged vs 06-2026highest value
08-2026: 0.8%● unchanged vs 07-2026
09-2026: 0.8%● unchanged vs 08-2026
10-2026: 0.8%● unchanged vs 09-2026
11-2026: 0.8%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Liquidity: current ratio 1.12, cash €600,077
1 change of registered office in 24 months
Equity €4.6m (14.9% of total assets)
lowers risk
Sector: Sports, amusement and recreation activities (NACE 93)
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 93, micro). It does better than 38% of them on solvency, 8% on liquidity, 38% on profitability and 91% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 6,713 companies had the same profile as TL WINTER has now. Each dot stands for 17 companies, two years later.
95.8%
were still trading
2.2%
stopped another way
1.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of TL WINTER itself: 0.8% within 12 months.
Test of the method
The method was tested on the 497,447 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 6,713 companies, not a prediction for TL WINTER. 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.
Credit verdict
Credit of up to €300,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.12 (1.12 in 2024), below the usual 1.5. Short-term debt is 85.1% and cash 2% of total assets. 85.1% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €4.6m
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 28-07-2026, 3 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
3 days early
2024
42 days early
2023
28 days early
2022
on the day
2021
2 days early
2020
31 days early
2019
125 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 3 days after the deadline. In the sector (NACE 93), the median for financial year 2024 was 1 day before the deadline, and 42% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 28 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- TL INTERNATIONAL 100%score 82equity €16.1m (2025) · 2025 annual accounts of TL INTERNATIONAL
Shares in 1 company, WEAREONE.world IBIZA SL
Board & ownershipRecent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0695403787
Registered office moved within Antwerp
New registered office: Kattendijkdok-Westkaai 12.001, 2000 Antwerpen · Previous registered office: Korte Vlierstraat 6 bus 211, 2000 Antwerpen, België · Permanent representatives: Bruno Vanwelsenaers and Pieter Wagemans · Board meeting of 19-02-2025 · Gazette deed
3 directors appointed, 1 statutory auditor appointed
Welsies, REPNA, FVO MANAGEMENT and PwC Bedrijfsrevisoren BV (statutory auditor) · Permanent representatives: Bruno Vanwelsenaers, Pieter Wagemans and Flip Van Oyen · TL INTERNATIONAL holds all the shares · Board meeting of 17-12-2024 · Gazette deed
2 directors resigning, 2 reappointments
Resignations: VILDIS and LIFE TREE · Reappointments: VILDIS and LIFE TREE · Permanent representatives: BEERS Michiel and BEERS Manu · General meeting of 22-12-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| TL WINTER Antwerp | €29.8m | 10.8% | 14.9% | 6.3 |
| TL TRAVEL Antwerp | €65.6m | 21.7% | 33.2% | - |
| EMMASO Mortsel | - | - | 18.6% | 11.5 |
| SHRIMP TEMPURA Antwerp | - | - | 12.1% | 14.9 |
| LUXFLY INDOOR SKYDIVE Arlon | - | - | -14.9% | 7.4 |
| BATTLEKART EUROPE Mouscron | €18.1m | 14.6% | 61.0% | 30.2 |
| CURBSTONE Woluwe-Saint-Lambert | €7.2m | 12.9% | 24.2% | 5.1 |
Grey: the largest companies of the sector (sports and recreation (NACE 93)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as TL WINTER: other amusement and recreation activities (NACE 93299). They are comparable in size and age: total assets between €3.3m and €76m, founded between 2011 and 2018.
Official details
Source: KBO- Status
- Active since 24-04-2018Normal situation
- Registered office
- 32 active companies are registered at this address1 started in the 12 months before. Source: KBO register, as of 9 November 2026.
- Activity
- Other amusement and recreation activitiesNACE 93299and 1 other
- Joint committee
- 304Performing arts · annual accounts 2024
- Establishment unit
- 2.275.862.6962000 Antwerp, since 24-04-2018
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Annual accounts 2025
- €30.5m▲ 44.1%
- Employeeson 31-12-2025
- 6
- Filing
- Filed on 28-07-2026, 3 days before the end of the filing period
Insights on TL WINTER
TL WINTER has existed since 2018. The present size dates from 2022. The gross margin rose that year from €95,222 to €1.8m.
TL INTERNATIONAL holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about TL WINTER
- What is the company number of TL WINTER?
- The company number of TL WINTER is 0695.403.787. The VAT number is the same number with BE in front: BE 0695.403.787.
- Where is TL WINTER based?
- The registered office is at Kattendijkdok-Westkaai 12.001, 2000 Antwerp.Company details
- What does TL WINTER do?
- According to the KBO register, the main activity is other amusement and recreation activities (NACE 93299).
- What is the legal form of TL WINTER?
- TL WINTER is a private limited company (BV).
- When was TL WINTER founded?
- TL WINTER was founded on 24-04-2018.
- Is TL WINTER still active?
- Yes, TL WINTER is an active enterprise in the KBO register.
- How many employees does TL WINTER have?
- TL WINTER had an average of 6.3 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does TL WINTER fall under?
- In its 2024 annual accounts, TL WINTER states joint committee 304 (Performing arts).
- What is the turnover of TL WINTER?
- The turnover of TL WINTER was €29.8m in financial year 2025, according to the filed annual accounts.
- Is TL WINTER profitable?
- In financial year 2025, TL WINTER made a profit of €2.3m.
- Where can I find the annual accounts of TL WINTER?
- TL WINTER filed 7 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of TL WINTER due?
- TL WINTER must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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