TVG projects
ActiveSummary
The computed 12-month bankruptcy probability of TVG projects is 2.1% (moderate). The 2025 annual accounts show equity of €31,703 and a net result of €5,057. Equity is shrinking by ~11% per year across the filed fiscal years. Its solvency ranks better than 27% of 28184 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability58▲+58
Solvency51▲+7
Growth32=
Track record94
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity tight (current ratio 1.22 against 1.05 in 2024; short-term debt: 72.1% of total assets), and 74.3% 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
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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
25.7%
Return on assets
4.1%
Age of the figures
9 mo
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 08-05-2026, 84 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
84 d early
2024
83 d early
2023
75 d early
2022
53 d early
2021
76 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 74 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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 What other support did companies like this one receive, and it did not?Public money
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€31,703▲ 19.0%
2024 · €26,645
Total assets
€123,165▼ 14.4%
2024 · €143,963
Net result
€5,057
2024 · -€47,890
Working capital
€19,921▲ 257%
2024 · €5,577
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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€52,128-€7,312▼ 86.0%€32,605▲ 346%-€38,122€11,149
Net result€41,720above the sector's middle half-€4,573within the sector's middle half▼ 89.0%€23,242within the sector's middle half▲ 408%-€47,890below the sector's middle half€5,057within the sector's middle half
Equity€46,720within the sector's middle half-€51,293within the sector's middle half▲ 9.8%€74,536within the sector's middle half▲ 45.3%€26,645within the sector's middle half▼ 64.3%€31,703within the sector's middle half▲ 19.0%
Total assets€104,186within the sector's middle half-€139,403within the sector's middle half▲ 33.8%€167,201within the sector's middle half▲ 19.9%€143,963within the sector's middle half▼ 13.9%€123,165within the sector's middle half▼ 14.4%
Debt€57,466-€88,110▲ 53.3%€92,666▲ 5.2%€117,318▲ 26.6%€91,463▼ 22.0%
Working capital€41,165-€37,153▼ 9.7%€62,741▲ 68.9%€5,577▼ 91.1%€19,921▲ 257%
Solvency44.8%within the sector's middle half-36.8%within the sector's middle half▼ 8.0pp44.6%within the sector's middle half▲ 7.8pp18.5%below the sector's middle half▼ 26.1pp25.7%within the sector's middle half▲ 7.2pp
Staff (FTE)1-2.4▲ 140%2.4=2.4=2.2▼ 8.3%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €11,149 after a loss of €38,122 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €123,165
Fixed assets
€14,453 ▼ 47.3%
Current assets
€108,712 ▼ 6.7%
Equity and liabilities €123,165
Equity
€31,703 ▲ 19.0%
Debt
€91,463 ▼ 22.0%
Debt's share of the balance-sheet total falls from 81.5% to 74.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€25,329▲
2024 · -€26,084
Cash flow
€19,237▲
2024 · -€35,852
Current ratio
1.22▲
2024 · 1.05
Debt to equity
2.89▼
2024 · 4.40
ROE
16.0%▲
2024 · -179.7%
ROA
4.1%▲
2024 · -33.3%
Interest coverage
4.15▲
2024 · -16.95
Debt ≤ 1 year
€88,792▼
2024 · €110,969
Debt > 1 year
€1,198▼
2024 · €6,349
Staff costs
€127,031▼
2024 · €183,556
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,270 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
2.1%
went bankrupt
2.5%
stopped otherwise
95%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.1% 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 3,270 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €47,686 | €126,696 | €142,639 | €183,556 | €127,031 | ▼ 30.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,819 | €8,831 | €11,184 | €12,038 | €14,180 | ▲ 17.8% |
| Other operating charges640/8 | €3,463 | €2,809 | €3,588 | €695 | €4,398 | ▲ 532% |
| Gross operating margin9900 | €108,096 | €145,648 | €190,016 | €158,167 | €156,758 | ▼ 0.9% |
| Operating profit (loss)9901 | €52,128 | €7,312 | €32,605 | -€38,122 | €11,149 | ▲ 129% |
| Financial income75/76B | €3 | €121 | €22 | €12 | €7 | ▼ 40.6% |
| Recurring financial income75 | €3 | €121 | €22 | €12 | €7 | ▼ 40.6% |
| Financial charges65/66B | €757 | €1,025 | €1,913 | €9,780 | €6,098 | ▼ 37.6% |
| Recurring financial charges65 | €757 | €1,025 | €1,913 | €1,539 | €6,098 | ▲ 296% |
| Non-recurring financial charges66B | - | - | - | €8,241 | - | - |
| Profit (loss) for the period before taxes9903 | €51,374 | €6,408 | €30,715 | -€47,890 | €5,057 | ▲ 111% |
| Income taxes67/77 | €9,654 | €1,835 | €7,473 | - | - | - |
| Profit (loss) for the period9904 | €41,720 | €4,573 | €23,242 | -€47,890 | €5,057 | ▲ 111% |
| Profit (loss) for the period to be appropriated9905 | €41,720 | €4,573 | €23,242 | -€47,890 | €5,057 | ▲ 111% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €104,186 | €139,403 | €167,201 | €143,963 | €123,165 | ▼ 14.4% |
| Fixed assets21/28 | €29,448 | €39,517 | €30,002 | €27,417 | €14,453 | ▼ 47.3% |
| Tangible fixed assets22/27 | €29,448 | €39,517 | €30,002 | €27,417 | €14,453 | ▼ 47.3% |
| Plant, machinery and equipment23 | €8,151 | €23,123 | €16,842 | €11,184 | €5,623 | ▼ 49.7% |
| Furniture and vehicles24 | €21,296 | €16,394 | €13,161 | €16,233 | €8,831 | ▼ 45.6% |
| Current assets29/58 | €74,738 | €99,886 | €137,199 | €116,546 | €108,712 | ▼ 6.7% |
| Amounts receivable after more than one year29 | - | €3,494 | €3,494 | €3,494 | €3,494 | = |
| Other amounts receivable291 | - | €3,494 | €3,494 | €3,494 | €3,494 | = |
| Amounts receivable within one year40/41 | €48,947 | €79,131 | €99,529 | €104,141 | €102,668 | ▼ 1.4% |
| Trade receivables40 | €43,958 | €69,695 | €94,904 | €92,003 | €99,253 | ▲ 7.9% |
| Other amounts receivable41 | €4,989 | €9,436 | €4,625 | €12,139 | €3,415 | ▼ 71.9% |
| Cash at bank and in hand54/58 | €25,792 | €17,261 | €34,176 | €3,349 | - | - |
| Deferred charges and accrued income490/1 | - | - | - | €5,562 | €2,550 | ▼ 54.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €104,186 | €139,403 | €167,201 | €143,963 | €123,165 | ▼ 14.4% |
| Equity10/15 | €46,720 | €51,293 | €74,536 | €26,645 | €31,703 | ▲ 19.0% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | €41,720 | €46,293 | €69,536 | €21,645 | €26,703 | ▲ 23.4% |
| Amounts payable17/49 | €57,466 | €88,110 | €92,666 | €117,318 | €91,463 | ▼ 22.0% |
| Amounts payable after more than one year17 | €19,683 | €25,377 | €16,053 | €6,349 | €1,198 | ▼ 81.1% |
| Financial debts170/4 | €19,683 | €25,377 | €16,053 | €6,349 | €1,198 | ▼ 81.1% |
| Amounts payable within one year42/48 | €33,574 | €62,733 | €74,458 | €110,969 | €88,792 | ▼ 20.0% |
| Current portion of amounts payable after more than one year42 | €5,779 | €9,156 | €9,324 | €9,704 | €5,360 | ▼ 44.8% |
| Financial debts43 | - | - | - | €50,000 | €52,113 | ▲ 4.2% |
| Credit institutions430/8 | - | - | - | €50,000 | €52,113 | ▲ 4.2% |
| Trade debts44 | €15,130 | €30,670 | €38,379 | €38,502 | €28,600 | ▼ 25.7% |
| Suppliers440/4 | €15,130 | €30,670 | €38,379 | €38,502 | €28,600 | ▼ 25.7% |
| Taxes, remuneration and social security45 | €9,654 | €15,861 | €13,397 | €11,287 | €950 | ▼ 91.6% |
| Taxes450/3 | €9,654 | €11,489 | €9,479 | €7,473 | - | - |
| Remuneration and social security454/9 | - | €4,372 | €3,918 | €3,814 | €950 | ▼ 75.1% |
| Other amounts payable47/48 | €3,010 | €7,046 | €13,358 | €1,477 | €1,768 | ▲ 19.7% |
| Accrued charges and deferred income492/3 | €4,209 | - | €2,155 | - | €1,474 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €41,720 | €4,573 | €23,242 | -€47,890 | €5,057 | ▲ 111% |
| + Depreciation and write-downs630 | €4,819 | €8,831 | €11,184 | €12,038 | €14,180 | ▲ 17.8% |
| Operating cash flow (approximation) | €46,539 | €13,404 | €34,426 | -€35,852 | €19,237 | ▲ 154% |
| Investment in fixed assets (approximation) | - | -€18,900 | -€1,669 | -€9,453 | -€1,217 | ▲ 87.1% |
| Change in cash | - | -€8,531 | €16,915 | -€30,826 | - | - |
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
08-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €5,057
Net result €5,057 after one loss-making year.
09-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€47,890
Net result drops to -€47,890, the lowest in the series; recovery starts the following year.
17-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
08-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
16-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
2 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, Schoten · 1 establishment unit since 2020
Ground area
433 m²
Building footprint
311 m²
Parcel 11040D0403/00R009, Flanders. Linked by address, not a title deed.
1 establishment unit
TVG
since 20202.309.312.157
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11040D0403/00R009 | Flanders | 433 m² | 1 · 311 m² | - |
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.
Public money · subsidies and aid
Flemish government
2024 to 2025 · 2 entries · 29,626 EUR awarded · 29,626 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 16,168 EUR | 16,168 EUR |
| 2024 | 1 | 13,458 EUR | 13,458 EUR |
Schemes
Similar companies · same sector, comparable size
MC Carrelages
BE 0730.660.517
Herve · Eq €31,571
Entreprise Patrick CORBISIER
BE 0821.533.877
Namur · Eq €31,516
Ets CARRELAGES LEGRAND Marc et Fils
BE 0871.270.430
Nassogne · Eq €31,490
Hannes Yannick
BE 0671.702.135
Balen · Eq €31,989
Sonobra
BE 0843.871.096
Kapellen · Eq €31,410
Of 3,960 companies in sector 43331 we hold annual accounts for 1,788. 1,488 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
Founded06-11-2020
Fiscal year end31-12
Activities, NACEBEL 2025
43331Floor and wall tiling
Contact
E-mail
timmyvg@gmail.com
Phone
+32498461961
E-mail
info@tvgprojects.beSchoten
E-invoicing
Reachable via Peppol
Peppol ID
0208:0757878816
Also
9925:BE0757878816
Registered
11-04-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.