TODECO
ActiveSummary
TODECO has been active since 1992 and the Belgian Official Gazette contains no insolvency or warning signals. The 2026 annual accounts show negative equity (-€38,948) and a net result of -€13,134. Equity has been stable since 2019 (±1.3% per year). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 29-07-1992 Normal situation
- Activity
- “Het beleggen in,het verwerven van,en het beheer van een onroerend vermogen,alsmede alle verhandelingen die…” (deed in Dutch)From the articles, 2 activitiesNo NACE code in the KBO yet
- Establishment unit
- 2.058.699.789 3770 Riemst, since 04-09-1992
- Financial year end
- 31 March
- Peppol
- Reachable since 22-02-2026
Board and ownership
- DEWALQUE RebeccaManaging director
- MARCHAL Guido Marie-José LucienDirector · since 15-09-2023
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.2%
- Gross margin
- -€5,751
- Loss
- €13,134
- ▲ 195%
- Equity
- -€38,948
- ▼ 50.9%
- Total assets
- €411,838
- ▼ 3.4%
- Negative equity on 31-03-2026
Score breakdownraises riskCapped at 59: negative equityNegative equity -€38,948Founded in 1992lowers riskSize: total assets €411,838Figures for financial year 2026 (filed on 30-10-2026)Show the evidence
Checked score
About 2 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 (no NACE code, micro). It does better than 12% of them on solvency, 21% on liquidity, 14% on profitability and 9% on growth.
The bankruptcy probability was computed on 04-11-2026 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 31-03-2026.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% 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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 19 days after the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
Financials
Financials · financial year 2026, abbreviated format
Annual accounts 2026 filed on 29-10-2026 at the NBB all 34 filings
Every figure per financial year
The operating result for 2026 is a loss of €12,974, larger than the loss of €4,235 in 2025. It is the lowest result since 2019.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | - | €2,755 |
| Depreciation and write-downs of the year | €10,370 | €5,047 | €5,047 | €5,047 | €5,157 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €233,154 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,122 | €10,625 | €10,370 | €10,370 | €5,047 | €5,047 | €5,047 | €5,157 | ▲ 2.2% |
| Other operating charges640/8 | - | - | €3,579 | €3,486 | €4,448 | €1,738 | €4,079 | €1,858 | ▼ 54.5% |
| Non-recurring operating charges66A | - | - | - | - | €5,917 | - | - | €209 | - |
| Gross operating margin9900 | -€4,669 | €9,769 | €18,349 | €10,166 | €219,751 | €537 | €4,891 | -€5,751 | - |
| Operating profit (loss)9901 | -€16,200 | -€4,135 | €4,400 | -€3,691 | €204,339 | -€6,248 | -€4,235 | -€12,974 | ▼ 206% |
| Financial charges65/66B | - | - | €291 | €215 | €248 | €666 | €221 | €160 | ▼ 27.7% |
| Recurring financial charges65 | €318 | €81 | €291 | €215 | €248 | €666 | €221 | €160 | ▼ 27.7% |
| Profit (loss) for the period before taxes9903 | -€16,518 | -€4,217 | €4,109 | -€3,906 | €204,091 | -€6,914 | -€4,457 | -€13,134 | ▼ 195% |
| Income taxes67/77 | - | - | - | €1,536 | €29,079 | - | - | - | - |
| Profit (loss) for the period9904 | -€16,518 | -€4,217 | €4,109 | -€5,442 | €175,012 | -€6,914 | -€4,457 | -€13,134 | ▼ 195% |
| Profit (loss) for the period to be appropriated9905 | -€16,518 | -€4,217 | €4,109 | -€5,442 | €175,012 | -€6,914 | -€4,457 | -€13,134 | ▼ 195% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.5m | €0.5m | €0.5m | €0.5m | €0.6m | €0.4m | €0.4m | €0.4m | ▼ 3.4% |
| Fixed assets21/28 | €0.5m | €0.5m | €0.5m | €0.5m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 0.9% |
| Tangible fixed assets22/27 | €0.5m | €0.5m | €0.5m | €0.5m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 0.9% |
| Land and buildings22 | - | - | €0.5m | €0.5m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 0.8% |
| Leasing and similar rights25 | - | - | €0.03m | €0.02m | €0.02m | €0.01m | €0.01m | €0.005m | ▼ 50.1% |
| Current assets29/58 | €58 | €0.002m | €0.003m | €0.005m | €0.3m | €0.1m | €0.1m | €0.1m | ▼ 8.5% |
| Amounts receivable within one year40/41 | - | €0.002m | - | €428 | €0.001m | €0.001m | - | €0.002m | - |
| Trade receivables40 | - | - | - | €428 | - | €0.001m | - | €0.002m | - |
| Other amounts receivable41 | - | - | - | - | €0.001m | - | - | €0.001m | - |
| Cash at bank and in hand54/58 | €58 | €8 | €0.003m | €0.004m | €0.3m | €0.1m | €0.1m | €0.1m | ▼ 10.3% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €23 | €25 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.5m | €0.5m | €0.5m | €0.5m | €0.6m | €0.4m | €0.4m | €0.4m | ▼ 3.4% |
| Equity10/15 | -€0.03m | -€0.03m | -€0.03m | -€0.03m | -€0.01m | -€0.02m | -€0.03m | -€0.04m | ▼ 50.9% |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Capital10 | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Issued capital100 | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Revaluation surpluses12 | - | - | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Non-distributable reserves130/1 | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Legal reserve130 | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Profit (loss) carried forward14 | -€1.0m | -€1.0m | -€1.0m | -€1.0m | -€0.9m | -€0.9m | -€0.9m | -€0.9m | ▼ 1.5% |
| Amounts payable17/49 | €0.6m | €0.6m | €0.5m | €0.5m | €0.6m | €0.5m | €0.5m | €0.5m | ▼ 0.3% |
| Amounts payable after more than one year17 | €0.04m | €0.03m | €0.03m | €0.02m | €0.02m | €0.01m | €0.01m | €0.005m | ▼ 50.1% |
| Financial debts170/4 | - | - | €0.03m | €0.02m | €0.02m | €0.01m | €0.01m | €0.005m | ▼ 50.1% |
| Amounts payable within one year42/48 | €0.5m | €0.5m | €0.5m | €0.5m | €0.6m | €0.4m | €0.4m | €0.4m | ▲ 0.9% |
| Current portion of amounts payable after more than one year42 | - | - | €0.005m | €0.005m | €0.005m | €0.005m | €0.005m | €0.005m | = |
| Trade debts44 | €0.003m | €0.004m | €0.004m | €0.001m | €0.002m | €0.002m | €0.001m | €0.002m | ▲ 136% |
| Suppliers440/4 | - | - | €0.004m | €0.001m | €0.002m | €0.002m | €0.001m | €0.002m | ▲ 136% |
| Taxes, remuneration and social security45 | - | - | - | - | €0.03m | - | - | - | - |
| Taxes450/3 | - | - | - | - | €0.03m | - | - | - | - |
| Other amounts payable47/48 | - | - | €0.5m | €0.5m | €0.5m | €0.4m | €0.4m | €0.4m | ▲ 0.6% |
| Accrued charges and deferred income492/3 | - | - | - | - | €16 | €459 | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€16,518 | -€4,217 | €4,109 | -€5,442 | €175,012 | -€6,914 | -€4,457 | -€13,134 | ▼ 195% |
| + Depreciation and write-downs630 | €11,122 | €10,625 | €10,370 | €10,370 | €5,047 | €5,047 | €5,047 | €5,157 | ▲ 2.2% |
| Operating cash flow (approximation) | -€5,396 | €6,408 | €14,479 | €4,928 | €180,059 | -€1,867 | €591 | -€7,977 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €203,784 | €0 | €0 | -€2,547 | - |
| Change in cash | - | -€50 | €2,994 | €1,118 | €256,577 | -€122,732 | -€840 | -€14,095 | ▼ 1,578% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,796 companies had the same profile as TODECO has now. Two years later, 90.4% were still going and 2.1% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a small loss
Another 1.4% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of TODECO itself is lower: 0.2% within 12 months. It rests on far more data about TODECO than the profile alone.
Test of the method
The method was tested on the 497,446 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 2,796 companies, not a prediction for TODECO. 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.
Latest 10 of 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | abbreviated format | 29-10-2026 | 2026-00594929 | |
| 31-03-2025 | micro format | 29-09-2025 | 2025-00511483 | |
| 31-03-2024 | micro format | 29-11-2024 | 2024-00608511 | |
| 31-03-2023 | micro format | 27-10-2023 | 2023-00494574 | |
| 31-03-2022 | micro format | 28-09-2022 | 2022-20446064 | |
| 31-03-2021 | micro format | 25-04-2022 | 2022-20007764 | |
| 31-03-2020 | micro format | 28-10-2020 | 2020-64000601 | |
| 31-03-2019 | micro format | 30-10-2019 | 2019-72200495 | |
| 31-03-2018 | micro format | 31-10-2018 | 2018-71700269 | |
| 31-03-2017 | micro format | 21-02-2018 | 2018-05300114 |
Board & ownership
Directors
Board 2
Day-to-day management 1
Owners and capital
Capital transactions
- 27-09-2023 Capital stated in the deed · €223,104.17 · 9,000 shares
Mandate history
- Board
- Day-to-day management
- mandate already running before its first mention
| Name | Functions and periods |
|---|---|
| DEWALQUE Rebecca |
|
| MARCHAL Guido Marie-José Lucien |
|
Network & group
Connections & network
1 connected companyThe connected companies are in the list below.
Timeline
Deeds, filings and financial milestones
27-09
Gazette deed
1 director appointed, 2 directors resigning, 2 directors reappointedChange of role: DEWALQUE Rebecca, from director to managing director · Resignation: MARCHAL Guido (director) · Reappointments: DEWALQUE Rebecca (director) and MARCHAL Guido (director)10 points ▸
- Capital, €223,104.17, 9,000 shares
- Director resignation, DEWALQUE Rebecca
- Director resignation, MARCHAL Guido
- Director discharge, DEWALQUE Rebecca
- Director discharge, MARCHAL Guido
- Director reappointment, DEWALQUE Rebecca
- Director reappointment, MARCHAL Guido
- Director appointment, DEWALQUE Rebecca (managing director)
- Registered office clause, Sint-Rochusstraat 2, 3770 Riemst
- Power of attorney, Maria NEVEN
- The deed holds 4 more points.
02-02
Gazette deed
Reappointments: DEWALQUE REBECCA MARGUERITE (director) and MARCHAL GUIDO MARIE-JOSE (director)5 points ▸
- General meeting, 31-08-2022
- Director reappointment, DEWALQUE REBECCA MARGUERITE
- Director reappointment, MARCHAL GUIDO MARIE-JOSE
- Board meeting, 30-08-2022
- Director reappointment, DEWALQUE REBECCA MARGUERITE (managing director)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
2 activities
- Het beleggen in,het verwerven van,en het beheer van een onroerend vermogen,alsmede alle verhandelingen die van die aard zijn om de opbrengst van het onroerend vermogen te bevorderen,zoals ondermeer het onderhoud,de verbouwing,de ontwikkeling,de oprichting,de verfraaiing en de verhuring van deze goederen;het zich borgstellen voor het goede verloop van verbintenissen aangegaan door personen die,rechtstreeks of onrechtstreeks,het genot zouden hebben of verkrijgen van de onroerende goederen.
- Het beleggen in,het verwerven van,en het beheer van een roerend vermogen dat kan bestaan uit ondermeer waardepapieren,opties,kunstwerken,staatsfondsen,aandelen,obligaties,kasbons vastrentende en niet-vastrentende effecten,vastgoedcertificaten,certificaten van gemeenschappelijke beleggingsfondsen,ordebriefjes,promessen,termijnrekeningen,onderhandse leningen,edelmetalen,edelstenen,juwelen,antiek,andere materiele of immateriële activa,welke voor een belegging in aanmerking kunnen komen.