TOURNAVIS
ActiveFrom the official registers: KBO 10 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
TOURNAVIS has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €44,641 and a net result of -€21,534. Equity has been growing by about 7.7% per year since 2018. Its solvency ranks better than 67% of 2,479 sector peers (NACE 90, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Official details
KBO- Status
- Active since 04-08-2015 Normal situation
- Legal form
- Private limited company
- Registered office
- Smisstraat 132, 1840 Londerzeel
- Activity
- Visual arts creation NACE 90120and 5 others
- Establishment unit
- 2.245.013.431 1840 Londerzeel, since 04-08-2015
- Financial year end
- 31 December
- Peppol
- Reachable since 05-02-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
- Gross margin
- -€3,973
- Loss
- €21,534
- Equity
- €44,641
- ▼ 38.7%
- Total assets
- €65,707
- ▼ 30.0%
Score breakdownraises riskLoss of €21,534 (financial year 2025)lowers riskLiquidity: current ratio 2.59, cash €39,585Sector: Arts creation and performing arts activities (NACE 90)Size: total assets €65,707Show the evidence
Checked score
Fewer than 1 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 (NACE 90, micro). It does better than 69% of them on solvency, 77% on liquidity, 7% on profitability and 16% on growth.
The bankruptcy probability was computed on 31-10-2026 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.
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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Signals
The company filed its last 7 accounts on average 9 days after the deadline. In the sector (NACE 90), the median for financial year 2024 was 4 days before the deadline, and 38% of those companies filed late.
Searched, nothing found (2)
Financials · financial year 2025, micro format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00495231.
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 31-08-2026
- Format
- micro format
- Reference
- 2026-00495231
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is a loss of €20,846, after a profit of €1,325 in 2024. It is the lowest result since 2021.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Arts creation and performing arts activities (NACE 90). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Companies with the same profile, two years later
Historical observationIn July 2024, 4,805 companies had the same profile as TOURNAVIS has now. Two years later, 2.0% had gone bankrupt and 88.2% were still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of TOURNAVIS itself is lower: 0.1% within 12 months. It rests on far more data about TOURNAVIS than the profile alone.
Test of the method
The method was tested on the 497,445 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 4,805 companies, not a prediction for TOURNAVIS. 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €96,000 | €87,608 | - | - | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,559 | €6,530 | €4,124 | €9,254 | €13,680 | €14,760 | €15,252 | €15,540 | ▲ 1.9% |
| Other operating charges640/8 | - | - | - | €1,085 | €1,319 | €1,603 | €507 | €1,333 | ▲ 163% |
| Gross operating margin9900 | €31,782 | €16,823 | €13,237 | €39,942 | €23,771 | €42,340 | €17,084 | -€3,973 | - |
| Operating profit (loss)9901 | €24,452 | €9,475 | €8,327 | €29,602 | €8,772 | €25,978 | €1,325 | -€20,846 | - |
| Financial income75/76B | - | - | - | - | €1 | - | €4,072 | €3 | ▼ 99.9% |
| Recurring financial income75 | €10 | - | €54 | - | €1 | - | €4,072 | €3 | ▼ 99.9% |
| Non-recurring financial income76B | - | - | - | - | - | - | €4,072 | - | - |
| Financial charges65/66B | - | - | - | €827 | €764 | €843 | €751 | €548 | ▼ 27.0% |
| Recurring financial charges65 | €333 | €296 | €214 | €827 | €764 | €843 | €751 | €548 | ▼ 27.0% |
| Profit (loss) for the period before taxes9903 | €24,129 | €9,179 | €8,168 | €28,775 | €8,009 | €25,135 | €4,647 | -€21,390 | - |
| Income taxes67/77 | €4,132 | €2,580 | €3,340 | €8,481 | €2,739 | €7,456 | €1,856 | €144 | ▼ 92.3% |
| Profit (loss) for the period9904 | €19,997 | €6,599 | €4,827 | €20,294 | €5,270 | €17,679 | €2,791 | -€21,534 | - |
| Profit (loss) for the period to be appropriated9905 | €19,997 | €6,599 | €4,827 | €20,294 | €5,270 | €17,679 | €2,791 | -€21,534 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €58,444 | €57,487 | €67,978 | €129,090 | €106,645 | €118,180 | €93,813 | €65,707 | ▼ 30.0% |
| Fixed assets21/28 | €10,721 | €5,692 | €3,112 | €49,038 | €48,664 | €40,969 | €26,732 | €14,051 | ▼ 47.4% |
| Tangible fixed assets22/27 | €10,721 | €5,692 | €3,112 | €49,038 | €48,664 | €40,969 | €26,732 | €14,051 | ▼ 47.4% |
| Plant, machinery and equipment23 | - | - | - | - | - | €6,611 | €5,371 | €5,067 | ▼ 5.7% |
| Furniture and vehicles24 | - | - | - | €49,038 | €48,664 | €34,358 | €21,361 | €8,984 | ▼ 57.9% |
| Current assets29/58 | €47,723 | €51,795 | €64,866 | €80,052 | €57,981 | €77,211 | €67,080 | €51,656 | ▼ 23.0% |
| Amounts receivable within one year40/41 | €37,768 | €32,275 | €33,148 | €22,213 | €32,966 | €33,597 | €22,756 | €11,865 | ▼ 47.9% |
| Trade receivables40 | - | - | - | €11,213 | €24,045 | €22,888 | €10,987 | €2,009 | ▼ 81.7% |
| Other amounts receivable41 | - | - | - | €11,000 | €8,921 | €10,709 | €11,770 | €9,856 | ▼ 16.3% |
| Cash at bank and in hand54/58 | €8,280 | €19,053 | €30,234 | €55,574 | €24,473 | €42,883 | €44,247 | €39,585 | ▼ 10.5% |
| Deferred charges and accrued income490/1 | - | - | - | €2,265 | €542 | €731 | €77 | €206 | ▲ 167% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €58,444 | €57,487 | €67,978 | €129,090 | €106,645 | €118,180 | €93,813 | €65,707 | ▼ 30.0% |
| Equity10/15 | €43,534 | €50,133 | €54,960 | €75,254 | €66,523 | €82,535 | €72,774 | €44,641 | ▼ 38.7% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €30,079 | €36,678 | €41,505 | €61,799 | €53,069 | €69,080 | €59,319 | €52,721 | ▼ 11.1% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €59,939 | €51,209 | €67,220 | €59,319 | €52,721 | ▼ 11.1% |
| Profit (loss) carried forward14 | €1,055 | €1,055 | €1,055 | €1,055 | €1,055 | €1,055 | €1,055 | -€20,479 | - |
| Amounts payable17/49 | €14,910 | €7,354 | €13,018 | €53,836 | €40,121 | €35,645 | €21,039 | €21,065 | ▲ 0.1% |
| Amounts payable after more than one year17 | €353 | - | - | €32,720 | €23,053 | €13,259 | €3,336 | - | - |
| Financial debts170/4 | - | - | - | €32,720 | €23,053 | €13,259 | €3,336 | - | - |
| Amounts payable within one year42/48 | €14,557 | €7,105 | €13,018 | €20,117 | €16,068 | €18,259 | €16,496 | €19,965 | ▲ 21.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €9,541 | €13,016 | €13,182 | €9,923 | €3,336 | ▼ 66.4% |
| Financial debts43 | - | - | - | €3,347 | - | - | €3,390 | €3,378 | ▼ 0.4% |
| Other loans439 | - | - | - | €3,347 | - | - | €3,390 | €3,378 | ▼ 0.4% |
| Trade debts44 | €536 | €3,083 | €4,964 | €5,225 | - | €340 | - | €2,680 | - |
| Suppliers440/4 | - | - | - | €5,225 | - | €340 | - | €2,680 | - |
| Taxes, remuneration and social security45 | - | - | - | €2,004 | €3,052 | €4,737 | €3,183 | €2,078 | ▼ 34.7% |
| Taxes450/3 | - | - | - | €2,004 | €3,052 | €4,737 | €436 | €2,078 | ▲ 376% |
| Remuneration and social security454/9 | - | - | - | - | - | - | €2,747 | - | - |
| Other amounts payable47/48 | - | - | - | - | - | - | - | €8,492 | - |
| Accrued charges and deferred income492/3 | - | - | - | €1,000 | €1,000 | €4,126 | €1,206 | €1,100 | ▼ 8.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,997 | €6,599 | €4,827 | €20,294 | €5,270 | €17,679 | €2,791 | -€21,534 | - |
| + Depreciation and write-downs630 | €6,559 | €6,530 | €4,124 | €9,254 | €13,680 | €14,760 | €15,252 | €15,540 | ▲ 1.9% |
| Operating cash flow (approximation) | €26,556 | €13,128 | €8,952 | €29,548 | €18,950 | €32,438 | €18,043 | -€5,994 | - |
| Investment in fixed assets (approximation) | - | -€1,500 | -€1,545 | -€55,180 | -€13,306 | -€7,064 | -€1,016 | -€2,858 | ▼ 181% |
| Change in cash | - | €10,774 | €11,180 | €25,340 | -€31,101 | €18,410 | €1,364 | -€4,662 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00495231 | NBB |
| 31-12-2024 | micro format | 24-06-2025 | 2025-00189983 | |
| 31-12-2023 | micro format | 24-07-2024 | 2024-00282786 | |
| 31-12-2022 | micro format | 27-07-2023 | 2023-00288729 | |
| 31-12-2021 | micro format | 27-07-2022 | 2022-20240063 | |
| 31-12-2020 | micro format | 27-08-2021 | 2021-58900491 | |
| 31-12-2019 | micro format | 25-09-2020 | 2020-55700560 | |
| 31-12-2018 | micro format | 28-08-2019 | 2019-58600217 | |
| 31-12-2017 | micro format | 28-08-2018 | 2018-51400420 | |
| 31-12-2016 | abbreviated format | 28-08-2017 | 2017-49900006 |
Comparable companies
These companies have the same main activity as TOURNAVIS: visual arts creation (NACE 90120). They are comparable in size and age: total assets between €46,600 and €81,900, founded between 2011 and 2017.
| Company | Founded | Total assets | Equity | Gross margin | Turnover | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|---|
| TOURNAVIS Londerzeel | 2015 | €65,707 | €44,641 | -€3,973 | - | -€21,534 | - | 2025 |
| Imuze Antwerpen | 2014 | €81,787 | €81,787 | -€752 | €4,250 | -€1,565 | - | 2025 |
| STUDIO GONDO Brussel | 2017 | €52,591 | -€52,383 | -€2,945 | - | -€3,872 | 0 | 2025 |
| URBANA Brussel | 2012 | €70,476 | €53,169 | -€30,699 | - | -€83,055 | - | 2025 |
| IMAGEBEELD PRODUCTION Watermaal-Bosvoorde | 2011 | €73,150 | -€5,529 | -€8,923 | - | -€10,704 | - | 2025 |
| BRUNSK Berlare | 2011 | €81,857 | €62,036 | €1,276 | - | -€18,667 | - | 2025 |
| VITALY PRODUCTION Perwez | 2011 | €46,582 | €3,705 | €344 | - | -€9,956 | - | 2025 |
They were chosen from the 233 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| MICHIELS Niki |
|
The board according to the articles of association
Board and representation
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- Each director alone
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Met of zonder beperking van duur, onbepaalde duur bij gebrek aan bepaling duurtijd”“Algemene kosten los van representatie-,reis-en verplaatsingskosten, algemene vergadering”
Audit, dissolution and liquidation
- Dissolution ruleThe articles set when and by whom the company can be dissolved.
- “In vormen vereist voor statutenwijziging, op elk moment”
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- One provision in the deed
Articles of association, deed of 11-12-2023
Owners and capital
Capital transactions
- 11-12-2023 Converted to available equity
Shares according to the articles of association
Capital, shares and profit
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- “Op naam, register van aandelen op naam met vermeldingen WVV”
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Elke overdracht onder levenden ten bezwarende of kosteloze titel vrijwillig of gedwongen in vruchtgebruik,blote of volle eigendom van…”
- Share issue ruleThe articles set how and by whom new shares are issued.
- One provision in the deed
Other provisionsThese rules from the articles cover subjects other than the board, the shares, the purpose and the meetings.
Articles of association, deed of 11-12-2023 (in Dutch)
Group and network
Connections & network
1 current directorThe network starts from the directors of TOURNAVIS. Every other company they run is a node.
History
Acts, filings and financial milestones
11-12
Gazette deed
Resignation: MICHIELS Niki (director)Appointment: MICHIELS Niki (director) · Registered office clause · Capital conversion9 points ▸
- Registered office clause, “1840 Londerzeel, Smisstraat 132, zesde beslissing” (deed in Dutch)
- Director resignation, MICHIELS Niki (director)
- Director appointment, MICHIELS Niki (director (not named in the articles))
- General meeting, 04-12-2023
- Other provision, “aanpassing statuten aan WVV met behoud rechtsvorm, statuten aanpassen” (deed in Dutch)
- Capital conversion, “beschikbaar voor uitkering” (deed in Dutch)
- Purpose change
- Amendment of the articles
- Capital
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 202529 activities
- Het verrichten van beeld- en geluidsopnames in de ruimste zin van het woord
- Het produceren van video- en filmproducties
- Het verlenen van advies in de ruimste zin binnen de audiovisuele sector
- De opleiding en scholing van alle audiovisuele technieken
- Het regisseren van fictie en non-fictie
- De postproductie van film- en videoproducties
- Stylisme,kostumes en props
- Decoratie,setdressing en inrichting van locaties en gebouwen
- Multi-media,DVD en internetontwikkelingen
- Het organiseren van evenementen,spektakels en beurzen
- Fotografie
- Catering
- Promotie en organisatie van uitvoerende kunstevenementen
- Ondersteunende activiteiten voor scheppende kunsten
- Activiteiten van grafische designers
- Activiteiten van interieurdecorateurs
- Verhuur en lease van televisietoestellen en andere audio- en videoapparatuur
- Ontwerpen en programmeren van computerprogramma’s
- Reparatie van computers en randapparatuur
- Adviesbureaus op het gebied van public-relations en communicatie
- Vervaardiging van groente- en fruitsappen
- Vervaardiging van cider en van andere vruchtenwijnen
- Vervaardiging van bier
- Het verhuren van onroerende goederen
- Teelt van gewassen en dienstverlening in verband met deze activiteiten
- Vervaardigen van wijn
- Groothandel in voedingsmiddelen en dranken
- Uitbaten van drank en eetgelegenheden
- Het beheren voor eigen rekening van een roerend en onroerend patrimonium,in de meest brede zin van het woord
Invoicing and payment
Financial year and general meeting
Accounts at the NBBThe scores and ratios are Checked's own calculations, not a credit decision.
Environmental permits: No permit applications found in Flanders.
Sites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23080A0465/00M000 | Flanders | 3,231 m² | 1 · 138 m² | 6.5 m · 1 |