TM Advisory
ActiveSummary
TM Advisory has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €18,600 and a net result of €52,803. Equity is shrinking by ~14.8% per year across the filed fiscal years. Its solvency ranks better than 22% of 11620 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+7
Solvency47▼-3
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity tight (current ratio 1.25 against 1.33 in 2023; short-term debt: 77.8% and cash: 78.1% of total assets), and 77.8% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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 2024Solvency, return and age of the figures
Solvency
22.2%
Return on assets
63.1%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 11620 sector peers (2024).
NBB · sector comparisonPosition among 11620 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 06-06-2025, 55 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
55 d early
2023
75 d early
2022
35 d early
2021
46 d early
2020
92 d early
2019
115 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 70 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Equity
€18,600=
2023 · €18,600
Total assets
€83,678▲ 11.3%
2023 · €75,159
Net result
€52,803▲ 215%
2023 · €16,761
Working capital
€16,568▼ 10.9%
2023 · €18,600
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€40,801▼ 8.8%€19,445▼ 52.3%€71,053▲ 265%€21,494▼ 69.7%€66,678▲ 210%
Net result€32,739above the sector's middle half▼ 11.7%€15,475within the sector's middle half▼ 52.7%€57,972above the sector's middle half▲ 275%€16,761within the sector's middle half▼ 71.1%€52,803above the sector's middle half▲ 215%
Equity€67,031within the sector's middle half▲ 89.9%€82,506within the sector's middle half▲ 23.1%€18,600below the sector's middle half▼ 77.5%€18,600below the sector's middle half=€18,600below the sector's middle half=
Total assets€89,903within the sector's middle half▲ 71.5%€96,632within the sector's middle half▲ 7.5%€92,670within the sector's middle half▼ 4.1%€75,159within the sector's middle half▼ 18.9%€83,678within the sector's middle half▲ 11.3%
Debt€22,872▲ 33.5%€14,126▼ 38.2%€74,070▲ 424%€56,559▼ 23.6%€65,078▲ 15.1%
Working capital€67,042within the sector's middle half▲ 90.0%€82,528within the sector's middle half▲ 23.1%€18,600within the sector's middle half▼ 77.5%€18,600within the sector's middle half=€16,568within the sector's middle half▼ 10.9%
Solvency74.6%above the sector's middle half▲ 7.2pp85.4%above the sector's middle half▲ 10.8pp20.1%below the sector's middle half▼ 65.3pp24.7%below the sector's middle half▲ 4.7pp22.2%below the sector's middle half▼ 2.5pp
Current ratio3.93above the sector's middle half▲ 0.876.85above the sector's middle half▲ 2.921.25within the sector's middle half▼ 5.601.33within the sector's middle half▲ 0.081.25within the sector's middle half▼ 0.07
Return on assets (ROA)36.4%above the sector's middle half▼ 34.3pp16.0%within the sector's middle half▼ 20.4pp62.6%above the sector's middle half▲ 46.5pp22.3%within the sector's middle half▼ 40.3pp63.1%above the sector's middle half▲ 40.8pp
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 210% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €83,678
Fixed assets
€2,032
Current assets
€81,646
Equity and liabilities €83,678
Equity
€18,600 =
Debt
€65,078 ▲ 15.1%
Debt's share of the balance-sheet total rises from 75.3% to 77.8%. Debt is higher.
Key figures and ratios
EBITDA
€67,582
Cash flow
€53,706
Debt to equity
3.50▲
2023 · 3.04
ROE
283.9%▲
2023 · 90.1%
Interest coverage
1730.65
Debt ≤ 1 year
€65,078▲
2023 · €56,559
Income taxes
€13,836▲
2023 · €4,697
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,706 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.7%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 6,706 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.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €904 | - |
| Other operating charges640/8 | - | €398 | €398 | €384 | €396 | ▲ 2.9% |
| Gross operating margin9900 | €41,149 | €19,842 | €71,450 | €21,878 | €67,978 | ▲ 211% |
| Operating profit (loss)9901 | €40,801 | €19,445 | €71,053 | €21,494 | €66,678 | ▲ 210% |
| Financial income75/76B | - | €3 | €0 | €0 | €0 | = |
| Recurring financial income75 | €0 | €3 | €0 | €0 | €0 | = |
| Financial charges65/66B | - | €54 | €61 | €35 | €39 | ▲ 12.0% |
| Recurring financial charges65 | €49 | €54 | €61 | €35 | €39 | ▲ 12.0% |
| Profit (loss) for the period before taxes9903 | €40,752 | €19,393 | €70,992 | €21,459 | €66,639 | ▲ 211% |
| Income taxes67/77 | €8,013 | €3,918 | €13,020 | €4,697 | €13,836 | ▲ 195% |
| Profit (loss) for the period9904 | €32,739 | €15,475 | €57,972 | €16,761 | €52,803 | ▲ 215% |
| Profit (loss) for the period to be appropriated9905 | €32,739 | €15,475 | €57,972 | €16,761 | €52,803 | ▲ 215% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €89,903 | €96,632 | €92,670 | €75,159 | €83,678 | ▲ 11.3% |
| Fixed assets21/28 | - | - | - | - | €2,032 | - |
| Tangible fixed assets22/27 | - | - | - | - | €2,032 | - |
| Furniture and vehicles24 | - | - | - | - | €2,032 | - |
| Current assets29/58 | €89,903 | €96,632 | €92,670 | €75,159 | €81,646 | ▲ 8.6% |
| Amounts receivable within one year40/41 | €7,031 | €12,213 | €35,352 | €8,550 | €16,306 | ▲ 90.7% |
| Trade receivables40 | - | €11,985 | €35,352 | €8,550 | €16,306 | ▲ 90.7% |
| Other amounts receivable41 | - | €228 | €0 | - | - | - |
| Cash at bank and in hand54/58 | €82,872 | €84,419 | €57,317 | €65,783 | €65,339 | ▼ 0.7% |
| Deferred charges and accrued income490/1 | - | - | - | €827 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €89,903 | €96,632 | €92,670 | €75,159 | €83,678 | ▲ 11.3% |
| Equity10/15 | €67,031 | €82,506 | €18,600 | €18,600 | €18,600 | = |
| Contributions10/11 | - | €6,200 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €60,831 | €76,306 | €0 | - | - | - |
| Distributable reserves133 | - | €76,306 | €0 | - | - | - |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €22,872 | €14,126 | €74,070 | €56,559 | €65,078 | ▲ 15.1% |
| Amounts payable within one year42/48 | €22,861 | €14,104 | €74,070 | €56,559 | €65,078 | ▲ 15.1% |
| Trade debts44 | €657 | €1,013 | €1,150 | €403 | €19 | ▼ 95.3% |
| Suppliers440/4 | - | €1,013 | €1,150 | €403 | €19 | ▼ 95.3% |
| Taxes, remuneration and social security45 | - | €12,551 | €14,393 | €10,949 | €6,884 | ▼ 37.1% |
| Taxes450/3 | - | €12,551 | €14,393 | €10,949 | €6,884 | ▼ 37.1% |
| Other amounts payable47/48 | - | €540 | €58,527 | €45,208 | €58,175 | ▲ 28.7% |
| Accrued charges and deferred income492/3 | - | €22 | €0 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €32,739 | €15,475 | €57,972 | €16,761 | €52,803 | ▲ 215% |
| + Depreciation and write-downs630 | - | - | - | - | €904 | - |
| Operating cash flow (approximation) | €32,739 | €15,475 | €57,972 | €16,761 | €53,706 | ▲ 220% |
| Change in cash | - | €1,547 | -€27,101 | €8,465 | -€444 | ▼ 105% |
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
2025
06-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
17-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2019net €57,972 ▲275%
Operating result €71,053, net result €57,972, both a record.
15-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €15,475 ▼52.7%
Net result drops to €15,475, the lowest in the series; recovery starts the following year.
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
07-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Sint-Lambrechts-Woluwe · 1 establishment unit since 2019
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
J.R. Collonlaan 131200 Sint-Lambrechts-Woluwe1 establishment unit
TM Advisory
since 20192.284.795.408
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Of 18,250 companies in sector 71111 we hold annual accounts for 6,321. 4,371 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
Founded31-01-2019
Fiscal year end31-12
Activities, NACEBEL 2025
71111Activities of building architects
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0719645968
Also
9925:BE0719645968
Registered
20-03-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.