TOLGA CONSTRUCT PROJECT
ActiveSummary
TOLGA CONSTRUCT PROJECT has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €93,486 and a net result of €14,439. Equity is growing by ~33% per year across the filed fiscal years. Its solvency ranks better than 82% of 2465 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability90▲+31
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity ample (current ratio 11.01 against 30.92 in 2023; short-term debt: 7.7% and cash: 0.9% of total assets), and 18.2% 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 90
Relative position
BE, all sectors
reference
Arts creation and performing arts activities (NACE 90)
about 58% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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 16-07-2025, 15 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
15 d early
2023
64 d late
2022
54 d late
2021
22 d late
2020
13 d late
2019
19 d late
← 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 26 days after the deadline; the sector median for financial year 2024 is 4 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
€36,856
EBIT margin
66.2%
Net result
€14,439▲ 82.5%
2023 · €7,910
Working capital
€88,284▲ 12.3%
2023 · €78,648
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€36,856
Operating result€1,260▼ 91.9%€12,709▲ 909%€30,261▲ 138%€8,026▼ 73.5%€24,380▲ 204%
Net result€1,055▼ 93.1%€12,525▲ 1,088%€30,072▲ 140%€7,910▼ 73.7%€14,439▲ 82.5%
EBIT margin66.2%
Equity€28,540▲ 3.8%€41,066▲ 43.9%€71,138▲ 73.2%€79,048▲ 11.1%€93,486▲ 18.3%
Total assets€30,934▼ 12.1%€60,266▲ 94.8%€84,211▲ 39.7%€93,677▲ 11.2%€114,309▲ 22.0%
Debt€2,393▼ 69.0%€19,200▲ 702%€13,074▼ 31.9%€14,629▲ 11.9%€20,822▲ 42.3%
Working capital€16,140▲ 7.0%€28,666▲ 77.6%€58,738▲ 105%€78,648▲ 33.9%€88,284▲ 12.3%
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 204% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €114,309
Fixed assets
€17,202 ▲ 38.7%
Current assets
€97,106 ▲ 19.5%
Equity and liabilities €114,309
Equity
€93,486 ▲ 18.3%
Debt
€20,822 ▲ 42.3%
Debt's share of the balance-sheet total rises from 15.6% to 18.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€25,378
Cash flow
€15,437
Current ratio
11.01▼
2023 · 30.92
Debt to equity
0.22▲
2023 · 0.19
ROE
15.4%▲
2023 · 10.0%
ROA
12.6%▲
2023 · 8.4%
Interest coverage
90.79
Debt ≤ 1 year
€8,822▲
2023 · €2,629
Income taxes
€9,662
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,058 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% | 1.6% |
| 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 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 31,324 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 |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €36,856 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €7,740 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €998 | - |
| Other operating charges640/8 | - | - | €1,962 | €535 | €3,738 | ▲ 599% |
| Gross operating margin9900 | €2,118 | €12,709 | €32,223 | €8,561 | €29,116 | ▲ 240% |
| Operating profit (loss)9901 | €1,260 | €12,709 | €30,261 | €8,026 | €24,380 | ▲ 204% |
| Financial income75/76B | - | - | €33 | €285 | - | - |
| Recurring financial income75 | - | - | €33 | €285 | - | - |
| Financial charges65/66B | - | €183 | €222 | €401 | €280 | ▼ 30.3% |
| Recurring financial charges65 | €205 | €183 | €222 | €401 | €280 | ▼ 30.3% |
| Profit (loss) for the period before taxes9903 | €1,055 | €12,525 | €30,072 | €7,910 | €24,101 | ▲ 205% |
| Income taxes67/77 | - | - | - | - | €9,662 | - |
| Profit (loss) for the period9904 | €1,055 | €12,525 | €30,072 | €7,910 | €14,439 | ▲ 82.5% |
| Profit (loss) for the period to be appropriated9905 | €1,055 | €12,525 | €30,072 | €7,910 | €14,439 | ▲ 82.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €30,934 | €60,266 | €84,211 | €93,677 | €114,309 | ▲ 22.0% |
| Fixed assets21/28 | €12,400 | €12,400 | €12,400 | €12,400 | €17,202 | ▲ 38.7% |
| Intangible fixed assets21 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Tangible fixed assets22/27 | - | - | - | - | €4,802 | - |
| Land and buildings22 | - | - | - | - | €4,802 | - |
| Current assets29/58 | €18,534 | €47,866 | €71,811 | €81,277 | €97,106 | ▲ 19.5% |
| Amounts receivable within one year40/41 | €9,532 | €44,258 | €71,429 | €80,937 | €96,029 | ▲ 18.6% |
| Trade receivables40 | - | €37,610 | €71,089 | €68,555 | €52,307 | ▼ 23.7% |
| Other amounts receivable41 | - | €6,648 | €340 | €12,382 | €43,722 | ▲ 253% |
| Cash at bank and in hand54/58 | €9,002 | €3,608 | €382 | €340 | €1,077 | ▲ 217% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €30,934 | €60,266 | €84,211 | €93,677 | €114,309 | ▲ 22.0% |
| Equity10/15 | €28,540 | €41,066 | €71,138 | €79,048 | €93,486 | ▲ 18.3% |
| Contributions10/11 | - | €18,750 | €18,750 | €18,750 | €18,750 | = |
| Revaluation surpluses12 | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €1,875 | €1,875 | €1,875 | €1,875 | €1,875 | = |
| Non-distributable reserves130/1 | - | €1,875 | €1,875 | €1,875 | €1,875 | = |
| Reserves not available under the articles1311 | - | €1,875 | €1,875 | €1,875 | €1,875 | = |
| Profit (loss) carried forward14 | -€4,485 | €8,041 | €38,113 | €46,023 | €60,461 | ▲ 31.4% |
| Amounts payable17/49 | €2,393 | €19,200 | €13,074 | €14,629 | €20,822 | ▲ 42.3% |
| Amounts payable within one year42/48 | €2,393 | €19,200 | €13,074 | €2,629 | €8,822 | ▲ 236% |
| Trade debts44 | €2,393 | €17,739 | €13,074 | €242 | €284 | ▲ 17.4% |
| Suppliers440/4 | - | €17,739 | €1,074 | €242 | €284 | ▲ 17.4% |
| Bills of exchange payable441 | - | - | €12,000 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €2,387 | €8,538 | ▲ 258% |
| Taxes450/3 | - | - | - | €2,387 | €8,538 | ▲ 258% |
| Other amounts payable47/48 | - | €1,460 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €12,000 | €12,000 | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,055 | €12,525 | €30,072 | €7,910 | €14,439 | ▲ 82.5% |
| + Depreciation and write-downs630 | - | - | - | - | €998 | - |
| Operating cash flow (approximation) | €1,055 | €12,525 | €30,072 | €7,910 | €15,437 | ▲ 95.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€5,800 | - |
| Change in cash | - | -€5,395 | -€3,226 | -€42 | €737 | ▲ 1,846% |
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
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
03-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 64 days late
2023
31-12
Financial
Liquidity times 6current ratio 30.92
Current ratio from 5.49 to 30.92; short-term debt falls from €13,074 to €2,629.
23-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 54 days late
2022
31-12
Financial
Highest result since 2018net €30,072 ▲140%
Operating result €30,261, net result €30,072, both a record.
31-12
Financial
Liquidity doublescurrent ratio 5.49
Current ratio from 2.49 to 5.49; short-term debt falls from €19,200 to €13,074.
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
2021
13-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 13 days late
2020
31-12
Financial
Liquidity triplescurrent ratio 7.74
Current ratio from 2.96 to 7.74; short-term debt falls from €7,709 to €2,393.
19-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 19 days late
2019
31-12
Financial
Back to profitnet €15,288
Net result €15,288 after one loss-making year.
31-12
Financial
Liquidity quadruplescurrent ratio 2.96
Current ratio from 0.84 to 2.96.
Show earlier events
21-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 21 days late
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 57 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 29 days late
2016
29-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Charleroi · 1 establishment unit since 2001
Ground area
962 m²
Building footprint
489 m²
Volume, LiDAR
2,411 m³
2 parcels, Wallonia · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
TOLGA CONSTRUCT PROJECT
since 20012.094.227.327
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52016A0395/00H002 | Wallonia | 769 m² | 1 · 362 m² | 5.6 m · 2 fl. |
| 52018D0456/00B002 | Wallonia | 193 m² | 1 · 127 m² | 9.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 8,313 companies in sector 90201 we hold annual accounts for 601. 487 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 (pre-2019)
Founded20-11-2000
Fiscal year end31-12
Activities, NACEBEL 2025
90201Performing arts by independent artists
71121Engineering and related technical consultancy, excluding land surveyors
90202Performing arts by artistic ensembles
E-invoicing
Reachable via Peppol
Peppol ID
0208:0473311993
Registered
18-02-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.