TOMBEEKHEYDE
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 12-06-2026 at the NBB all 16 filings
Turnover
€1.7m
EBIT margin
25.6%
Net result
-€167,681
2024 · €1.5m
Working capital
€2.5m
2024 · -€7.0m
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€84,267
▼ 95.3%
2025
20182025
Net result
-€167,681
2025
lowest quarter of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€19.8m
▼ 1.2%
2025
highest quarter of the sector
20182025
Total assets
€29.8m
▼ 8.0%
2025
highest quarter of the sector
20182025
Debt
€9.4m
▼ 19.7%
2025
20182025
Working capital
€2.5m
2025
highest quarter of the sector
20182025
Solvency
66.3%
▲ 4.5pp
2025
middle half of the sector
20182025
Current ratio
15.44
▲ 15.06
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-0.6%
▼ 5.1pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€1.7m-
Operating result€0.4m-€0.6m▲ 48.0%€0.7m▲ 12.0%€0.7m▼ 2.0%€0.4m▼ 43.5%-€5.2m€1.8m€0.08m▼ 95.3%
Net result-€0.4m--€0.2m▲ 54.6%-€0.2mbelow the sector's middle half▲ 5.7%€0.7mabove the sector's middle half€0.4mabove the sector's middle half▼ 44.9%-€5.3mbelow the sector's middle half€1.5mabove the sector's middle half-€0.2mbelow the sector's middle half
EBIT margin25.6%-
Equity€8.7m-€8.4m▼ 3.1%€20.1mabove the sector's middle half▲ 140%€20.7mabove the sector's middle half▲ 2.9%€21.0mabove the sector's middle half▲ 1.4%€18.6mabove the sector's middle half▼ 11.4%€20.0mabove the sector's middle half▲ 7.5%€19.8mabove the sector's middle half▼ 1.2%
Total assets€41.2m-€40.3m▼ 2.3%€39.3mabove the sector's middle half▼ 2.3%€39.9mabove the sector's middle half▲ 1.6%€40.4mabove the sector's middle half▲ 1.3%€30.8mabove the sector's middle half▼ 23.7%€32.4mabove the sector's middle half▲ 5.2%€29.8mabove the sector's middle half▼ 8.0%
Debt€31.7m-€31.1m▼ 2.1%€18.4m▼ 40.7%€18.5m▲ 0.3%€18.7m▲ 1.3%€11.5m▼ 38.4%€11.8m▲ 2.0%€9.4m▼ 19.7%
Working capital€1.3m--€0.9m€0.08mwithin the sector's middle half€2.4mabove the sector's middle half▲ 28×-€14.2mbelow the sector's middle half€1.3mabove the sector's middle half-€7.0mbelow the sector's middle half€2.5mabove the sector's middle half
Solvency21.0%-20.8%▼ 0.2pp51.2%within the sector's middle half▲ 30.3pp51.9%within the sector's middle half▲ 0.7pp51.9%within the sector's middle half▲ 0.1pp60.4%within the sector's middle half▲ 8.4pp61.7%within the sector's middle half▲ 1.3pp66.3%within the sector's middle half▲ 4.5pp
Current ratio1.88-0.38▼ 1.501.50within the sector's middle half▲ 1.1217.61above the sector's middle half▲ 16.100.23below the sector's middle half▼ 17.379.60above the sector's middle half▲ 9.360.37below the sector's middle half▼ 9.2215.44above the sector's middle half▲ 15.06
Return on assets (ROA)-1.0%--0.5%▲ 0.6pp-0.5%within the sector's middle half=1.7%within the sector's middle half▲ 2.1pp0.9%within the sector's middle half▼ 0.8pp-17.2%below the sector's middle half▼ 18.1pp4.6%within the sector's middle half▲ 21.8pp-0.6%within the sector's middle half▼ 5.1pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 95% lower than in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €29.8m
Fixed assets
€27.2m ▼ 3.8%
Current assets
€2.7m ▼ 36.4%
Equity and liabilities €29.8m
Equity
€19.8m ▼ 1.2%
Provisions
€636,762 ▼ 4.0%
Debt
€9.4m ▼ 19.7%
Debt's share of the balance-sheet total falls from 36.2% to 31.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€1.6m▼
2024 · €2.9m
Cash flow
€1.3m▼
2024 · €2.6m
Debt to equity
0.48▼
2024 · 0.59
ROE
-0.8%▼
2024 · 7.4%
Interest coverage
4.75▼
2024 · 6.38
Debt ≤ 1 year
€171,827▼
2024 · €11.2m
Debt > 1 year
€9.0m
Income taxes
€59,224▲
2024 · €6,409
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €0 | €416,960 |
| Depreciation and write-downs of the year | €1.3m | €1.3m | €1.3m | €1.1m | €1.5m |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €1.7m | - | - | - | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | - | - | €1.3m | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1.1m | €1.2m | €1.3m | €1.3m | €1.3m | €1.3m | €1.1m | €1.5m | ▲ 39.1% |
| Other operating charges640/8 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 3.2% |
| Non-recurring operating charges66A | - | - | - | €0.04m | - | €5.5m | - | - | - |
| Gross operating margin9900 | - | €1.9m | €2.0m | €2.0m | €1.7m | €1.6m | €2.9m | €1.6m | ▼ 45.0% |
| Operating profit (loss)9901 | €0.4m | €0.6m | €0.7m | €0.7m | €0.4m | -€5.2m | €1.8m | €0.08m | ▼ 95.3% |
| Financial income75/76B | - | - | - | €0.08m | €0.09m | €0.1m | €0.1m | €0.1m | ▲ 3.1% |
| Recurring financial income75 | €0.08m | €0.08m | €0.08m | €0.08m | €0.09m | €0.1m | €0.1m | €0.1m | ▲ 3.1% |
| Financial charges65/66B | - | - | - | €0.1m | €0.2m | €0.3m | €0.5m | €0.3m | ▼ 26.1% |
| Recurring financial charges65 | €1.0m | €0.9m | €1.0m | €0.1m | €0.2m | €0.3m | €0.5m | €0.3m | ▼ 26.1% |
| Debt charges650 | €1.0m | - | - | - | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€0.5m | -€0.2m | -€0.2m | €0.6m | €0.3m | -€5.3m | €1.5m | -€0.1m | - |
| Transfer from deferred taxes780 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Income taxes67/77 | - | - | - | - | - | - | €0.006m | €0.06m | ▲ 824% |
| Profit (loss) for the period9904 | -€0.4m | -€0.2m | -€0.2m | €0.7m | €0.4m | -€5.3m | €1.5m | -€0.2m | - |
| Profit (loss) for the period to be appropriated9905 | -€0.4m | -€0.2m | -€0.2m | €0.7m | €0.4m | -€5.3m | €1.5m | -€0.2m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €41.2m | €40.3m | €39.3m | €39.9m | €40.4m | €30.8m | €32.4m | €29.8m | ▼ 8.0% |
| Fixed assets21/28 | €38.4m | €39.7m | €39.1m | €37.4m | €36.1m | €29.4m | €28.3m | €27.2m | ▼ 3.8% |
| Tangible fixed assets22/27 | €38.4m | €39.7m | €39.1m | €37.4m | €36.1m | €29.4m | €28.3m | €27.2m | ▼ 3.8% |
| Land and buildings22 | - | - | - | €37.3m | €36.0m | €29.3m | €28.2m | €27.2m | ▼ 3.7% |
| Plant, machinery and equipment23 | - | - | - | €0.1m | €0.1m | €0.07m | €0.05m | €0.02m | ▼ 51.0% |
| Financial fixed assets28 | €1 | €1 | €1 | €1 | €1 | €1 | €1 | €1 | = |
| Current assets29/58 | €2.8m | €0.6m | €0.3m | €2.5m | €4.3m | €1.5m | €4.2m | €2.7m | ▼ 36.4% |
| Amounts receivable within one year40/41 | €2.8m | €0.6m | €0.3m | €2.5m | €4.2m | €0.8m | €2.7m | €1.3m | ▼ 52.4% |
| Trade receivables40 | - | - | - | - | €0.2m | €0.3m | €0.1m | €0.1m | ▼ 1.3% |
| Other amounts receivable41 | - | - | - | €2.5m | €3.9m | €0.4m | €2.6m | €1.2m | ▼ 55.4% |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.2m | €0.7m | €1.4m | €1.3m | ▼ 5.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €41.2m | €40.3m | €39.3m | €39.9m | €40.4m | €30.8m | €32.4m | €29.8m | ▼ 8.0% |
| Equity10/15 | €8.7m | €8.4m | €20.1m | €20.7m | €21.0m | €18.6m | €20.0m | €19.8m | ▼ 1.2% |
| Contributions10/11 | €7.0m | €7.0m | €19.0m | €19.0m | €19.0m | €22.0m | €22.0m | €22.0m | = |
| Capital10 | - | - | - | €19.0m | €19.0m | €22.0m | €22.0m | €22.0m | = |
| Issued capital100 | - | - | - | €19.0m | €19.0m | €22.0m | €22.0m | €22.0m | = |
| Profit (loss) carried forward14 | -€0.8m | -€1.0m | -€1.2m | -€0.5m | -€0.1m | -€5.5m | -€4.0m | -€4.1m | ▼ 4.2% |
| Investment grants15 | - | - | - | €2.2m | €2.2m | €2.1m | €2.0m | €1.9m | ▼ 4.0% |
| Provisions and deferred taxes16 | €0.8m | €0.8m | €0.8m | €0.7m | €0.7m | €0.7m | €0.7m | €0.6m | ▼ 4.0% |
| Deferred taxes168 | - | - | - | €0.7m | €0.7m | €0.7m | €0.7m | €0.6m | ▼ 4.0% |
| Amounts payable17/49 | €31.7m | €31.1m | €18.4m | €18.5m | €18.7m | €11.5m | €11.8m | €9.4m | ▼ 19.7% |
| Amounts payable after more than one year17 | €29.1m | €28.4m | €18.0m | €18.0m | - | €11.0m | - | €9.0m | - |
| Financial debts170/4 | - | - | - | €18.0m | - | €11.0m | - | €9.0m | - |
| Amounts payable within one year42/48 | €1.5m | €1.5m | €0.2m | €0.1m | €18.6m | €0.2m | €11.2m | €0.2m | ▼ 98.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €18.0m | - | €11.0m | - | - |
| Trade debts44 | €0.001m | - | €0.02m | - | €0.4m | €0.003m | €0.003m | - | - |
| Suppliers440/4 | - | - | - | - | €0.4m | €0.003m | €0.003m | - | - |
| Taxes, remuneration and social security45 | - | - | - | - | - | - | - | €0.02m | - |
| Taxes450/3 | - | - | - | - | - | - | - | €0.02m | - |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | = |
| Accrued charges and deferred income492/3 | - | - | - | €0.3m | €0.2m | €0.4m | €0.6m | €0.3m | ▼ 56.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.4m | -€0.2m | -€0.2m | €0.7m | €0.4m | -€5.3m | €1.5m | -€0.2m | - |
| + Depreciation and write-downs630 | €1.1m | €1.2m | €1.3m | €1.3m | €1.3m | €1.3m | €1.1m | €1.5m | ▲ 39.1% |
| Operating cash flow (approximation) | €0.7m | €1.0m | €1.1m | €2.0m | €1.7m | -€4.0m | €2.6m | €1.3m | ▼ 48.0% |
| Investment in fixed assets (approximation) | - | -€2.5m | -€0.7m | €0.4m | €0 | €5.5m | €0 | -€0.4m | - |
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, 249 companies had the same profile as TOMBEEKHEYDE has now. Two years later, 94.0% were still going and 0.8% had gone bankrupt.
- Large
- solvency 30% or more
- a small loss
- without age
94.0%
was still going
4.8%
stopped otherwise
0.8%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of TOMBEEKHEYDE itself: 0.1% within 12 months.
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 249 companies, not a prediction for TOMBEEKHEYDE. 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 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 12-06-2026 | 2026-00162648 | |
| 31-12-2024 | abbreviated format | 11-06-2025 | 2025-00137376 | |
| 31-12-2023 | abbreviated format | 25-06-2024 | 2024-00179031 | |
| 31-12-2022 | abbreviated format | 08-06-2023 | 2023-00114167 | |
| 31-12-2021 | abbreviated format | 14-06-2022 | 2022-20065225 | |
| 31-12-2020 | abbreviated format | 28-06-2021 | 2021-25400567 | |
| 31-12-2019 | abbreviated format | 09-06-2020 | 2020-16000051 | |
| 31-12-2018 | full format | 11-06-2019 | 2019-17500433 | |
| 31-12-2017 | full format | 13-06-2018 | 2018-18600057 | |
| 31-12-2016 | full format | 16-03-2017 | 2017-06600202 |