TOPLOCATION
ActiveSummary
TOPLOCATION has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.86M and a net result of €154k. Equity is growing by ~2.9% per year across the filed fiscal years. Its solvency ranks better than 82% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▼-1
Solvency99▲+2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €330k at 30 days acceptable
Liquidity ample (current ratio 3.42 against 2.45 in 2024; short-term debt: 3.3% and cash: 11.4% of total assets), and 25.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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
74.5%
Return on assets
3%
Age of the figures
9 mo
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 31-12-2025 was due by 31-07-2026 and was filed on 02-06-2026, 59 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
59 d early
2024
20 d early
2023
54 d early
2022
30 d late
2021
54 d early
2020
50 d early
2019
56 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€3.86M▲ 3.0%
2024 · €3.75M
2018: €3.21Mlowest in 8 years
2019: €3.25M▲ +1.5% vs 2018
2020: €3.27M▲ +0.5% vs 2019
2021: €3.35M▲ +2.6% vs 2020
2022: €3.51M▲ +4.7% vs 2021
2023: €3.60M▲ +2.6% vs 2022
2024: €3.75M▲ +4.1% vs 2023
2025: €3.86M▲ +3.0% vs 2024highest in 8 years
2018 → 2025
Total assets
€5.18M▲ 0.2%
2024 · €5.17M
2018: €4.70M
2019: €4.54M▼ -3.5% vs 2018lowest in 8 years
2020: €5.92M▲ +30.5% vs 2019highest in 8 years
2021: €5.72M▼ -3.4% vs 2020
2022: €5.59M▼ -2.2% vs 2021
2023: €5.33M▼ -4.7% vs 2022
2024: €5.17M▼ -3.0% vs 2023
2025: €5.18M▲ +0.2% vs 2024
2018 → 2025
Net result
€154k▼ 19.4%
2024 · €191k
2018: €64k
2019: €47k▼ -26.6% vs 2018
2020: €15k▼ -68.6% vs 2019lowest in 8 years
2021: €85k▲ +470% vs 2020
2022: €157k▲ +85.7% vs 2021
2023: €133k▼ -15.5% vs 2022
2024: €191k▲ +44.0% vs 2023highest in 8 years
2025: €154k▼ -19.4% vs 2024
2018 → 2025
Working capital
€420k▲ 82.6%
2024 · €230k
2018: €1.56Mhighest in 8 years
2019: €-32k▼ -102% vs 2018
2020: €-147k▼ -355% vs 2019lowest in 8 years
2021: €50k▲ +134% vs 2020
2022: €59k▲ +16.1% vs 2021
2023: €717▼ -98.8% vs 2022
2024: €230k▲ +31982% vs 2023
2025: €420k▲ +82.6% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€3.35M-€3.51M▲ 4.7%€3.60M▲ 2.6%€3.75M▲ 4.1%€3.86M▲ 3.0%
2021: €3.35Mlowest in 5 years
2022: €3.51M▲ +4.7% vs 2021
2023: €3.60M▲ +2.6% vs 2022
2024: €3.75M▲ +4.1% vs 2023
2025: €3.86M▲ +3.0% vs 2024highest in 5 years
Operating result€159k-€255k▲ 60.6%€227k▼ 11.0%€276k▲ 21.3%€201k▼ 27.1%
2021: €159klowest in 5 years
2022: €255k▲ +60.6% vs 2021
2023: €227k▼ -11.0% vs 2022
2024: €276k▲ +21.3% vs 2023highest in 5 years
2025: €201k▼ -27.1% vs 2024
Net result€85k-€157k▲ 85.7%€133k▼ 15.5%€191k▲ 44.0%€154k▼ 19.4%
2021: €85klowest in 5 years
2022: €157k▲ +85.7% vs 2021
2023: €133k▼ -15.5% vs 2022
2024: €191k▲ +44.0% vs 2023highest in 5 years
2025: €154k▼ -19.4% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 27% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.18M
Fixed assets
€4.59M ▼ 4.0%
Current assets
€593k ▲ 52.5%
Equity and liabilities €5.18M
Equity
€3.86M ▲ 3.0%
Provisions
€137k ▼ 7.1%
Debt
€1.19M ▼ 7.0%
Debt's share of the balance-sheet total falls from 24.7% to 22.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€395k▼
2024 · €469k
Cash flow
€347k▼
2024 · €384k
Current ratio
3.42▲
2024 · 2.45
Debt to equity
0.31▼
2024 · 0.34
ROE
4.0%▼
2024 · 5.1%
ROA
3.0%▼
2024 · 3.7%
Interest coverage
33.07▲
2024 · 22.49
Debt ≤ 1 year
€173k▲
2024 · €159k
Debt > 1 year
€994k▼
2024 · €1.10M
Income taxes
€84k▲
2024 · €80k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 57 lines
Balance sheet
Code20242025
Assets
Total assets20/58€5.17M€5.18M▲
Fixed assets21/28€4.78M€4.59M▼
Tangible fixed assets22/27€3.94M€3.75M▼
Land and buildings22€3.94M€3.75M▼
Financial fixed assets28€840k€840k=
Current assets29/58€389k€593k▲
Amounts receivable within one year40/41€4k€3k▼
Trade receivables40€3k€2k▼
Other amounts receivable41€1k€543▼
Cash at bank and in hand54/58€371k€591k▲
Deferred charges and accrued income490/1€14k-
Equity and liabilities
Total equity and liabilities10/49€5.17M€5.18M▲
Equity10/15€3.75M€3.86M▲
Contributions10/11€2.47M€2.47M=
Capital10€2.47M€2.47M=
Issued capital100€2.47M€2.47M=
Reserves13€1.28M€1.39M▲
Non-distributable reserves130/1€96k€105k▲
Legal reserve130€96k€105k▲
Tax-exempt reserves132€286k€265k▼
Distributable reserves133€897k€1.02M▲
Provisions and deferred taxes16€147k€137k▼
Deferred taxes168€147k€137k▼
Amounts payable17/49€1.28M€1.19M▼
Amounts payable after more than one year17€1.10M€994k▼
Financial debts170/4€1.09M€982k▼
Other amounts payable178/9€12k€12k▲
Amounts payable within one year42/48€159k€173k▲
Current portion of amounts payable after more than one year42€124k€105k▼
Trade debts44€23k€9k▼
Suppliers440/4€23k€9k▼
Taxes, remuneration and social security45€889€19k▲
Taxes450/3€889€19k▲
Other amounts payable47/48€11k€40k▲
Accrued charges and deferred income492/3€20k€19k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€193k€193k=
Other operating charges640/8€49k€30k▼
Gross operating margin9900€518k€425k▼
Operating profit (loss)9901€276k€201k▼
Financial income75/76B€5k€39k▲
Recurring financial income75€5k€3k▼
Non-recurring financial income76B-€36k
Financial charges65/66B€21k€12k▼
Recurring financial charges65€21k€12k▼
Profit (loss) for the period before taxes9903€260k€228k▼
Transfer from deferred taxes780€11k€11k=
Income taxes67/77€80k€84k▲
Profit (loss) for the period9904€191k€154k▼
Transfer from tax-exempt reserves789€20k€20k=
Profit (loss) for the period to be appropriated9905€211k€174k▼
Appropriation of the result
Profit (loss) to be appropriated9906€211k€174k▼
Transfer from equity791/2€43k€43k=
Transfer to equity691/2€211k€174k▼
To the legal reserve6920€11k€10k▼
To other reserves6921€201k€165k▼
Profit to be distributed694/7€43k€43k=
Directors or managers695€43k€43k=
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €217k | €174k | €193k | €193k | €193k | = |
| Other operating charges640/8 | €45k | €25k | €30k | €49k | €30k | ▼ 38.6% |
| Gross operating margin9900 | €421k | €455k | €451k | €518k | €425k | ▼ 18.1% |
| Operating profit (loss)9901 | €159k | €255k | €227k | €276k | €201k | ▼ 27.1% |
| Financial income75/76B | €0 | €12 | €2 | €5k | €39k | ▲ 645% |
| Recurring financial income75 | €0 | €12 | €2 | €5k | €3k | ▼ 45.7% |
| Non-recurring financial income76B | - | - | - | - | €36k | - |
| Financial charges65/66B | €58k | €46k | €35k | €21k | €12k | ▼ 42.8% |
| Recurring financial charges65 | €58k | €46k | €35k | €21k | €12k | ▼ 42.8% |
| Profit (loss) for the period before taxes9903 | €101k | €209k | €192k | €260k | €228k | ▼ 12.4% |
| Transfer from deferred taxes780 | €11k | €11k | €11k | €11k | €11k | = |
| Income taxes67/77 | €27k | €63k | €70k | €80k | €84k | ▲ 5.9% |
| Profit (loss) for the period9904 | €85k | €157k | €133k | €191k | €154k | ▼ 19.4% |
| Transfer from tax-exempt reserves789 | €20k | €20k | €20k | €20k | €20k | = |
| Profit (loss) for the period to be appropriated9905 | €105k | €177k | €153k | €211k | €174k | ▼ 17.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.72M | €5.59M | €5.33M | €5.17M | €5.18M | ▲ 0.2% |
| Fixed assets21/28 | €5.34M | €5.17M | €4.98M | €4.78M | €4.59M | ▼ 4.0% |
| Tangible fixed assets22/27 | €4.50M | €4.33M | €4.14M | €3.94M | €3.75M | ▼ 4.9% |
| Land and buildings22 | €4.50M | €4.33M | €4.14M | €3.94M | €3.75M | ▼ 4.9% |
| Financial fixed assets28 | €840k | €840k | €840k | €840k | €840k | = |
| Current assets29/58 | €373k | €424k | €355k | €389k | €593k | ▲ 52.5% |
| Amounts receivable within one year40/41 | €2k | €470 | €216k | €4k | €3k | ▼ 31.7% |
| Trade receivables40 | €2k | - | €5k | €3k | €2k | ▼ 20.4% |
| Other amounts receivable41 | €570 | €470 | €211k | €1k | €543 | ▼ 56.9% |
| Cash at bank and in hand54/58 | €370k | €423k | €133k | €371k | €591k | ▲ 59.2% |
| Deferred charges and accrued income490/1 | €280 | €304 | €6k | €14k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.72M | €5.59M | €5.33M | €5.17M | €5.18M | ▲ 0.2% |
| Equity10/15 | €3.35M | €3.51M | €3.60M | €3.75M | €3.86M | ▲ 3.0% |
| Contributions10/11 | €2.47M | €2.47M | €2.47M | €2.47M | €2.47M | = |
| Capital10 | €2.47M | €2.47M | €2.47M | €2.47M | €2.47M | = |
| Issued capital100 | €2.47M | €2.47M | €2.47M | €2.47M | €2.47M | = |
| Reserves13 | €390k | €547k | €1.13M | €1.28M | €1.39M | ▲ 8.7% |
| Non-distributable reserves130/1 | €43k | €52k | €85k | €96k | €105k | ▲ 10.0% |
| Legal reserve130 | €43k | €52k | €85k | €96k | €105k | ▲ 10.0% |
| Tax-exempt reserves132 | €347k | €326k | €306k | €286k | €265k | ▼ 7.1% |
| Distributable reserves133 | - | €169k | €739k | €897k | €1.02M | ▲ 13.6% |
| Profit (loss) carried forward14 | €494k | €494k | - | - | - | - |
| Provisions and deferred taxes16 | €179k | €168k | €158k | €147k | €137k | ▼ 7.1% |
| Deferred taxes168 | €179k | €168k | €158k | €147k | €137k | ▼ 7.1% |
| Amounts payable17/49 | €2.19M | €1.92M | €1.57M | €1.28M | €1.19M | ▼ 7.0% |
| Amounts payable after more than one year17 | €1.86M | €1.55M | €1.22M | €1.10M | €994k | ▼ 9.4% |
| Financial debts170/4 | €1.85M | €1.54M | €1.21M | €1.09M | €982k | ▼ 9.6% |
| Other amounts payable178/9 | €13k | €14k | €8k | €12k | €12k | ▲ 4.4% |
| Amounts payable within one year42/48 | €322k | €365k | €355k | €159k | €173k | ▲ 9.0% |
| Current portion of amounts payable after more than one year42 | €300k | €313k | €326k | €124k | €105k | ▼ 15.4% |
| Trade debts44 | €2k | €13k | €15k | €23k | €9k | ▼ 60.8% |
| Suppliers440/4 | €2k | €13k | €15k | €23k | €9k | ▼ 60.8% |
| Taxes, remuneration and social security45 | €13k | €32k | €3k | €889 | €19k | ▲ 2,072% |
| Taxes450/3 | €13k | €32k | €3k | €889 | €19k | ▲ 2,072% |
| Other amounts payable47/48 | €7k | €7k | €12k | €11k | €40k | ▲ 260% |
| Accrued charges and deferred income492/3 | €995 | - | €1k | €20k | €19k | ▼ 5.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €85k | €157k | €133k | €191k | €154k | ▼ 19.4% |
| + Depreciation and write-downs630 | €217k | €174k | €193k | €193k | €193k | = |
| Operating cash flow (approximation) | €302k | €331k | €326k | €384k | €347k | ▼ 9.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €53k | €-290k | €238k | €220k | ▼ 7.7% |
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
02-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €191k ▲44%
Operating result €276k, net result €191k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 2.45
Current ratio from 1.00 to 2.45; short-term debt falls from €355k to €159k.
07-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
07-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity doublescurrent ratio 1.16
Current ratio from 0.53 to 1.16.
11-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €15k ▼68.6%
Net result drops to €15k, the lowest in the series; recovery starts the following year.
05-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
16-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
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, Gent · 1 establishment unit since 2007
Ground area
3,562 m²
Building footprint
1,766 m²
Volume, LiDAR
14,149 m³
Parcel 44062A0266/00S002, Flanders · tallest building 13.9 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Toplocation
since 20072.165.032.476
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44062A0266/00S002 | Flanders | 3,562 m² | 1 · 1,766 m² | 13.8 m · 3 fl. |
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 1,292 companies in sector 68122 we hold annual accounts for 901. 414 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
Founded29-08-2007
Fiscal year end31-12
Activities, NACEBEL 2025
68122Development of non-residential building projects
68110Buying and selling of own real estate
68203Renting and operating of own or leased non-residential real estate, excluding land
Scores and ratios are computed by Checked and are not a credit decision.