TOPLIN
ActiveSummary
TOPLIN has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.1m and a net result of -€16,348. Equity remains stable across the filed fiscal years (±1.1% per year). Its solvency ranks better than 95% of 842 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▲+57
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €230,000 at 30 days acceptable
Liquidity ample (current ratio 50.18 against 20.2 in 2024; short-term debt: 0.4% and cash: 7.9% of total assets), and 2% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six 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 · 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
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
98%
Return on assets
-0.5%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€16,348
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
23 d early
2023
33 d early
2022
4 d early
2021
24 d early
2020
22 d early
2019
49 d late
← 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 12 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
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 Which other companies belong to the same group?Stichting Administratiekantoor Saffelberg · 28 companies
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Financials · fiscal year 2025, full schema
In the rankings
#2 company by equity in Pajottegem, Construction sector#5 company by total assets in Pajottegem, Construction sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€16,348▲ 91.7%
2024 · -€197,186
Working capital
€595,109▲ 24.7%
2024 · €477,298
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€284,050▼ 82.6%€14,921▼ 94.7%-€133,807-€224,190▼ 67.5%-€49,398▲ 78.0%
Net result-€177,338below the sector's middle half€11,816within the sector's middle half-€127,335below the sector's middle half-€197,186below the sector's middle half▼ 54.9%-€16,348below the sector's middle half▲ 91.7%
Equity€3.4mabove the sector's middle half▼ 5.0%€3.4mabove the sector's middle half▲ 0.3%€3.3mabove the sector's middle half▼ 3.8%€3.1mabove the sector's middle half▼ 6.0%€3.1mabove the sector's middle half▼ 0.5%
Total assets€3.5mabove the sector's middle half▼ 2.4%€3.4mabove the sector's middle half▼ 1.8%€3.3mabove the sector's middle half▼ 3.8%€3.1mabove the sector's middle half▼ 6.5%€3.1mwithin the sector's middle half▲ 0.5%
Debt€127,706▲ 232%€51,826▼ 59.4%€48,904▼ 5.6%€31,310▼ 36.0%€62,798▲ 101%
Working capital€3.3m▼ 8.2%€1.2m▼ 64.7%€627,701▼ 46.0%€477,298▼ 24.0%€595,109▲ 24.7%
Solvency96.4%above the sector's middle half▼ 2.6pp98.5%above the sector's middle half▲ 2.1pp98.5%above the sector's middle half=99.0%above the sector's middle half▲ 0.5pp98.0%above the sector's middle half▼ 1.0pp
Staff (FTE)0.4below the sector's middle half1.3below the sector's middle half▲ 225%
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.
Why a figure moved sharply
- 2025 Net result +92% on 2024. The accounts now follow the full schema, last year the abbreviated schema.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €49,398 in 2025 against €224,190 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.1m
Fixed assets
€2.5m ▼ 3.5%
Current assets
€607,209 ▲ 20.9%
Equity and liabilities €3.1m
Equity
€3.1m ▼ 0.5%
Debt
€62,798 ▲ 101%
Debt's share of the balance-sheet total rises from 1.0% to 2.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€104,429▲
2024 · -€77,747
Cash flow
€137,480▲
2024 · -€50,743
Current ratio
50.18▲
2024 · 20.20
Quick ratio
43.57▲
2024 · 16.98
Debt to equity
0.02▲
2024 · 0.01
ROE
-0.5%▲
2024 · -6.4%
ROA
-0.5%▲
2024 · -6.4%
Interest coverage
52.28▲
2024 · -126.36
Debt ≤ 1 year
€12,100▼
2024 · €24,860
Income taxes
€176▲
2024 · €40
Staff costs
€88,295▲
2024 · €25,915
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,304 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 12,304 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 | - | - | - | - | €48,750 | - |
| Remuneration, social security and pensions62 | - | - | - | €25,915 | €88,295 | ▲ 241% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,908 | €92,554 | €143,133 | €146,443 | €153,828 | ▲ 5.0% |
| Other operating charges640/8 | €980 | €16 | €12,233 | €14,368 | €46,400 | ▲ 223% |
| Gross operating margin9900 | €288,938 | €107,491 | €21,558 | -€37,464 | €239,125 | ▲ 738% |
| Operating profit (loss)9901 | €284,050 | €14,921 | -€133,807 | -€224,190 | -€49,398 | ▲ 78.0% |
| Financial income75/76B | €15,900 | €1,690 | €7,251 | €27,660 | €35,224 | ▲ 27.3% |
| Recurring financial income75 | €15,900 | €1,690 | €7,251 | €27,660 | €35,224 | ▲ 27.3% |
| Financial charges65/66B | €154 | €242 | €779 | €615 | €1,997 | ▲ 225% |
| Recurring financial charges65 | €154 | €242 | €779 | €615 | €1,997 | ▲ 225% |
| Profit (loss) for the period before taxes9903 | €299,797 | €16,369 | -€127,335 | -€197,146 | -€16,172 | ▲ 91.8% |
| Income taxes67/77 | €477,134 | €4,553 | - | €40 | €176 | ▲ 338% |
| Profit (loss) for the period9904 | -€177,338 | €11,816 | -€127,335 | -€197,186 | -€16,348 | ▲ 91.7% |
| Transfer from tax-exempt reserves789 | €139,500 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€37,838 | €11,816 | -€127,335 | -€197,186 | -€16,348 | ▲ 91.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.5m | €3.4m | €3.3m | €3.1m | €3.1m | ▲ 0.5% |
| Fixed assets21/28 | €115,568 | €2.2m | €2.6m | €2.6m | €2.5m | ▼ 3.5% |
| Tangible fixed assets22/27 | €115,568 | €2.2m | €2.2m | €2.2m | €2.1m | ▼ 4.1% |
| Land and buildings22 | - | €2.1m | €2.1m | €2.1m | €1.9m | ▼ 5.7% |
| Plant, machinery and equipment23 | €17,424 | €36,130 | €22,681 | €15,077 | €11,777 | ▼ 21.9% |
| Furniture and vehicles24 | €98,144 | €97,282 | €88,274 | €100,948 | €119,927 | ▲ 18.8% |
| Other tangible fixed assets26 | - | - | - | - | €12,068 | - |
| Financial fixed assets28 | - | - | €420,000 | €420,000 | €420,000 | = |
| Current assets29/58 | €3.4m | €1.2m | €670,660 | €502,159 | €607,209 | ▲ 20.9% |
| Stocks and contracts in progress3 | €1.9m | €129,820 | €80,000 | €80,000 | €80,000 | = |
| Stocks30/36 | €272,782 | €129,820 | €80,000 | €80,000 | €80,000 | = |
| Contracts in progress37 | €1.6m | - | - | - | - | - |
| Amounts receivable within one year40/41 | €1.1m | €54,760 | €61,549 | €334,302 | €280,566 | ▼ 16.1% |
| Trade receivables40 | €1,129 | €44 | €4,041 | €24,777 | €21,758 | ▼ 12.2% |
| Other amounts receivable41 | €1.1m | €54,716 | €57,509 | €309,525 | €258,808 | ▼ 16.4% |
| Current investments50/53 | - | - | €450,000 | - | - | - |
| Cash at bank and in hand54/58 | €407,510 | €1.0m | €71,960 | €86,223 | €245,912 | ▲ 185% |
| Deferred charges and accrued income490/1 | - | - | €7,151 | €1,634 | €731 | ▼ 55.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.5m | €3.4m | €3.3m | €3.1m | €3.1m | ▲ 0.5% |
| Equity10/15 | €3.4m | €3.4m | €3.3m | €3.1m | €3.1m | ▼ 0.5% |
| Contributions10/11 | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Capital10 | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Issued capital100 | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Reserves13 | €275,655 | €275,655 | €275,655 | €275,655 | €275,655 | = |
| Non-distributable reserves130/1 | €136,155 | €136,155 | €136,155 | €136,155 | €136,155 | = |
| Legal reserve130 | €136,155 | €136,155 | €136,155 | €136,155 | €136,155 | = |
| Distributable reserves133 | €139,500 | €139,500 | €139,500 | €139,500 | €139,500 | = |
| Profit (loss) carried forward14 | €1.7m | €1.8m | €1.6m | €1.4m | €1.4m | ▼ 1.1% |
| Amounts payable17/49 | €127,706 | €51,826 | €48,904 | €31,310 | €62,798 | ▲ 101% |
| Amounts payable within one year42/48 | €104,965 | €38,743 | €42,958 | €24,860 | €12,100 | ▼ 51.3% |
| Trade debts44 | €76,153 | €1,778 | €38,406 | €9,272 | €3,294 | ▼ 64.5% |
| Suppliers440/4 | €76,153 | €1,778 | €38,406 | €9,272 | €3,294 | ▼ 64.5% |
| Advances received on contracts in progress46 | - | - | - | €7,195 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €28,812 | €33,365 | €4,553 | €8,394 | €8,806 | ▲ 4.9% |
| Taxes450/3 | €28,812 | €33,365 | €4,553 | €721 | €518 | ▼ 28.1% |
| Remuneration and social security454/9 | - | - | - | €7,673 | €8,287 | ▲ 8.0% |
| Other amounts payable47/48 | - | €3,600 | - | - | - | - |
| Accrued charges and deferred income492/3 | €22,741 | €13,083 | €5,946 | €6,450 | €50,698 | ▲ 686% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€177,338 | €11,816 | -€127,335 | -€197,186 | -€16,348 | ▲ 91.7% |
| + Depreciation and write-downs630 | €3,908 | €92,554 | €143,133 | €146,443 | €153,828 | ▲ 5.0% |
| Operating cash flow (approximation) | -€173,430 | €104,371 | €15,798 | -€50,743 | €137,480 | ▲ 371% |
| Investment in fixed assets (approximation) | - | -€2.2m | -€542,397 | -€100,164 | -€63,917 | ▲ 36.2% |
| Change in cash | - | €608,090 | -€943,641 | €14,263 | €159,689 | ▲ 1,020% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Liquidity doublescurrent ratio 50.18
Current ratio from 20.20 to 50.18; short-term debt falls from €24,860 to €12,100.
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet -€197,186
Net result drops to -€197,186, the lowest in the series; recovery starts the following year.
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €11,816
Net result €11,816 after one loss-making year.
07-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €1.6m
Net result €1.6m after one loss-making year.
31-12
Financial
Liquidity times 6current ratio 228.81
Current ratio from 41.23 to 228.81; short-term debt falls from €48,400 to €15,717.
31-12
Financial
Equity above €2mEq €3.6m ▲84.9%
Equity rises from €1.9m to €3.6m.
Show earlier events
18-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 49 days late
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
05-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Pajottegem · 1 establishment unit since 1990
Ground area
2.8 ha
Building footprint
820 m²
Volume, LiDAR
7,298 m³
2 parcels, Flanders · tallest building 26.6 m, ±6 floors. Linked by address, not a title deed.
17
companies at this address
See who is registered here
1 establishment unit
Oplombeekstraat 23, 1755 Pajottegem
since 19902.050.231.887
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23024A0411/00E000 | Flanders | 2.8 ha | 1 · 381 m² | - |
| 23024A0481/02B000 | Flanders | 440 m² | 1 · 440 m² | 26.6 m · 6 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.
Structure & network
Part of the group
Stichting Administratiekantoor Saffelberg
28 companies
Group, risk and exposure
Owners and holdings
1 owner · 1 holdingChain of control
Highest known parent: Stichting Administratiekantoor Saffelberg. The sources do not say who stands above it.
Owners 1
-
100%
Holdings 1
-
100%
According to the 2025 annual accounts of TOPLIN and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,042. 2,926 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded03-07-1990
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
55204Guest rooms (bed and breakfast)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0441465410
Also
9925:BE0441465410
Registered
13-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.