TM CONSTRUCT
ActiveSummary
TM CONSTRUCT has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €119,203 and a net result of €13,060. Equity is growing by ~10.4% per year across the filed fiscal years. Its solvency ranks better than 62% of 7598 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▲+4
Solvency80▲+3
Growth52=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity ample (current ratio 2.21 against 2.06 in 2024; short-term debt: 45.2% and cash: 0% of total assets), and 45.2% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
54.8%
Return on assets
6%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 9 filingsDeviation from the deadline
2025
31 d late
2024
28 d late
2023
28 d early
2022
31 d late
2021
26 d late
2020
25 d late
2019
191 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 11 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
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. Usually files around 28 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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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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Financials · fiscal year 2025, micro schema
Equity
€119,203▲ 12.3%
2024 · €106,143
Total assets
€217,513▲ 5.8%
2024 · €205,566
Net result
€13,060▲ 132%
2024 · €5,640
Working capital
€118,586▲ 12.6%
2024 · €105,329
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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
Line20212022202320242025
Operating result€20,833▼ 43.1%€7,631▼ 63.4%€10,621▲ 39.2%€8,304▼ 21.8%€18,185▲ 119%
Net result€15,781within the sector's middle half▼ 43.8%€5,904within the sector's middle half▼ 62.6%€7,878within the sector's middle half▲ 33.4%€5,640within the sector's middle half▼ 28.4%€13,060within the sector's middle half▲ 132%
Equity€87,611within the sector's middle half▲ 22.0%€92,625within the sector's middle half▲ 5.7%€100,503within the sector's middle half▲ 8.5%€106,143within the sector's middle half▲ 5.6%€119,203above the sector's middle half▲ 12.3%
Total assets€381,042above the sector's middle half▼ 10.0%€380,344above the sector's middle half▼ 0.2%€222,401within the sector's middle half▼ 41.5%€205,566within the sector's middle half▼ 7.6%€217,513within the sector's middle half▲ 5.8%
Debt€293,431▼ 16.5%€287,719▼ 1.9%€121,898▼ 57.6%€99,423▼ 18.4%€98,310▼ 1.1%
Working capital€86,551above the sector's middle half▲ 24.0%€92,539above the sector's middle half▲ 6.9%€99,542above the sector's middle half▲ 7.6%€105,329above the sector's middle half▲ 5.8%€118,586above the sector's middle half▲ 12.6%
Solvency23.0%within the sector's middle half▲ 6.0pp24.4%within the sector's middle half▲ 1.4pp45.2%within the sector's middle half▲ 20.8pp51.6%within the sector's middle half▲ 6.4pp54.8%within the sector's middle half▲ 3.2pp
Current ratio1.29within the sector's middle half▲ 0.101.32within the sector's middle half▲ 0.031.82within the sector's middle half▲ 0.492.06within the sector's middle half▲ 0.242.21within the sector's middle half▲ 0.15
Return on assets (ROA)4.1%within the sector's middle half▼ 2.5pp1.6%within the sector's middle half▼ 2.6pp3.5%within the sector's middle half▲ 2.0pp2.7%within the sector's middle half▼ 0.8pp6.0%within the sector's middle half▲ 3.3pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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 2025; 2025 is 119% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €217,513
Fixed assets
€617 ▼ 24.2%
Current assets
€216,896 ▲ 5.9%
Equity and liabilities €217,513
Equity
€119,203 ▲ 12.3%
Debt
€98,310 ▼ 1.1%
Debt's share of the balance-sheet total falls from 48.4% to 45.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€18,382▲
2024 · €8,452
Cash flow
€13,256▲
2024 · €5,788
Debt to equity
0.82▼
2024 · 0.94
ROE
11.0%▲
2024 · 5.3%
Interest coverage
23.80▲
2024 · 10.60
Debt ≤ 1 year
€98,310▼
2024 · €99,423
Income taxes
€4,353▲
2024 · €1,880
Staff costs
€1,360▼
2024 · €4,232
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,975 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% 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 497,338 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 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% 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 26,975 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €24,000 | - | - | - | - |
| Remuneration, social security and pensions62 | €13,088 | €14,217 | €18,451 | €4,232 | €1,360 | ▼ 67.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €974 | €974 | €108 | €147 | €197 | ▲ 33.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €37,281 | - | - | €38,977 | - |
| Other operating charges640/8 | €252 | €348 | €1,976 | €536 | €606 | ▲ 13.1% |
| Gross operating margin9900 | €35,147 | €60,450 | €31,156 | €13,220 | €59,325 | ▲ 349% |
| Operating profit (loss)9901 | €20,833 | €7,631 | €10,621 | €8,304 | €18,185 | ▲ 119% |
| Financial income75/76B | €1,029 | €895 | €273 | €14 | - | - |
| Recurring financial income75 | €1,029 | €895 | €273 | €14 | - | - |
| Financial charges65/66B | €506 | €525 | €391 | €798 | €772 | ▼ 3.2% |
| Recurring financial charges65 | €506 | €525 | €391 | €798 | €772 | ▼ 3.2% |
| Profit (loss) for the period before taxes9903 | €21,356 | €8,001 | €10,504 | €7,520 | €17,413 | ▲ 132% |
| Income taxes67/77 | €5,575 | €2,097 | €2,626 | €1,880 | €4,353 | ▲ 132% |
| Profit (loss) for the period9904 | €15,781 | €5,904 | €7,878 | €5,640 | €13,060 | ▲ 132% |
| Profit (loss) for the period to be appropriated9905 | €15,781 | €5,904 | €7,878 | €5,640 | €13,060 | ▲ 132% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €381,042 | €380,344 | €222,401 | €205,566 | €217,513 | ▲ 5.8% |
| Fixed assets21/28 | €1,060 | €86 | €961 | €814 | €617 | ▼ 24.2% |
| Tangible fixed assets22/27 | €1,060 | €86 | €961 | €814 | €617 | ▼ 24.2% |
| Plant, machinery and equipment23 | €493 | - | €961 | €814 | €617 | ▼ 24.2% |
| Furniture and vehicles24 | €568 | €86 | €0 | €0 | - | - |
| Current assets29/58 | €379,982 | €380,258 | €221,439 | €204,752 | €216,896 | ▲ 5.9% |
| Stocks and contracts in progress3 | €35,000 | €35,000 | €20,000 | - | - | - |
| Contracts in progress37 | €35,000 | €35,000 | €20,000 | - | - | - |
| Amounts receivable within one year40/41 | €326,312 | €334,300 | €179,465 | €200,745 | €215,979 | ▲ 7.6% |
| Trade receivables40 | €218,299 | €223,498 | €67,366 | €78,824 | €87,316 | ▲ 10.8% |
| Other amounts receivable41 | €108,013 | €110,803 | €112,099 | €121,921 | €128,663 | ▲ 5.5% |
| Current investments50/53 | €862 | €862 | €862 | €862 | €862 | = |
| Cash at bank and in hand54/58 | €17,808 | €10,096 | €19,028 | €1,295 | €55 | ▼ 95.7% |
| Deferred charges and accrued income490/1 | - | - | €2,085 | €1,850 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €381,042 | €380,344 | €222,401 | €205,566 | €217,513 | ▲ 5.8% |
| Equity10/15 | €87,611 | €92,625 | €100,503 | €106,143 | €119,203 | ▲ 12.3% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €67,151 | €72,165 | €80,043 | €85,683 | €98,743 | ▲ 15.2% |
| Amounts payable17/49 | €293,431 | €287,719 | €121,898 | €99,423 | €98,310 | ▼ 1.1% |
| Amounts payable within one year42/48 | €293,431 | €287,719 | €121,898 | €99,423 | €98,310 | ▼ 1.1% |
| Current portion of amounts payable after more than one year42 | €15,279 | €15,357 | €15,358 | €15,358 | €15,358 | = |
| Trade debts44 | €2,821 | €116 | €2,710 | €21,079 | €6,192 | ▼ 70.6% |
| Suppliers440/4 | €2,821 | €116 | €2,710 | €21,079 | €6,192 | ▼ 70.6% |
| Taxes, remuneration and social security45 | €6,612 | €3,527 | €6,682 | - | €12,775 | - |
| Taxes450/3 | €4,673 | - | €3,281 | - | €12,775 | - |
| Remuneration and social security454/9 | €1,939 | €3,527 | €3,400 | - | - | - |
| Other amounts payable47/48 | €268,719 | €268,719 | €97,147 | €62,985 | €63,985 | ▲ 1.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,781 | €5,904 | €7,878 | €5,640 | €13,060 | ▲ 132% |
| + Depreciation and write-downs630 | €974 | €974 | €108 | €147 | €197 | ▲ 33.3% |
| Operating cash flow (approximation) | €16,755 | €6,879 | €7,985 | €5,788 | €13,256 | ▲ 129% |
| Investment in fixed assets (approximation) | - | €0 | -€983 | €0 | €0 | - |
| Change in cash | - | -€7,713 | €8,932 | -€17,733 | -€1,240 | ▲ 93.0% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
31-12
Financial
Weakest financial yearnet €5,640 ▼28.4%
Net result drops to €5,640, the lowest in the series; recovery starts the following year.
03-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €100,000Eq €100,503 ▲8.5%
6 profitable years in a row build equity to €100,503.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
22-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €52,459 ▲99.5%
Operating result €71,518, net result €52,459, both a record.
09-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
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, Flémalle · 1 establishment unit since 2017
Ground area
827 m²
Building footprint
107 m²
Parcel 62072C0015/00A006, Wallonia. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
TM CONSTRUCT
since 20172.261.502.045
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62072C0015/00A006 | Wallonia | 827 m² | 1 · 107 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 29,785 companies in sector 41001 we hold annual accounts for 16,058. 12,994 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
Founded26-01-2017
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43350Other building finishing work
43422Screed work
43910Bricklaying and masonry work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0670436383
Also
9925:BE0670436383
Registered
09-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.