TWEM
ActiveSummary
The computed 12-month bankruptcy probability of TWEM is 2.1% (moderate). The 2025 annual accounts show equity of €42,884 and a net result of €20,377. Equity is growing by about 5.1% per year across the filed financial years. Its solvency ranks better than 16% of 39,152 sector peers (NACE 70, financial year 2025). The company has been active since 2011 and the Belgian Official Gazette contains no insolvency signals. The KBO does carry 2 administrative register entries (see administrative flags).
Overview
- Equity
- €42,884
- Profit
- €20,377
- Holdings
- 1
Why 53raises risk1 change of registered office in 24 monthsEx-officio strike-off in the KBOlowers riskSize: total assets €458,245Sector: Activities of head offices; management consultancy activities (NACE 70)Show the evidence
Checked score
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 70, micro): better than 16% on solvency, 26% on liquidity, 39% on profitability and 80% on growth.
The bankruptcy probability was computed on 28-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 29 days after the deadline; the sector median (NACE 70) for financial year 2024 is 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (1)
- Address strikeout annulledKBO administration
- Address struckevent 12-02-2026
- Annual accounts filedfinancial year 2025 · micro…
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2020 to 2025, 6 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 121% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 1,448 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 95.6% are still going.
- Small
- 10 to 20 years old
- solvency under 10%
- a profit under 5% of the balance sheet
A further 0.3% 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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 1,448 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.
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €14,817 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,192 | €26,864 | €29,622 | €28,373 | €39,005 | €41,065 | ▲ 5.3% |
| Other operating charges640/8 | - | - | €2,229 | €2,883 | €12,937 | €1,312 | ▼ 89.9% |
| Gross operating margin9900 | €74,214 | €19,072 | €89,572 | €42,590 | €71,890 | €86,427 | ▲ 20.2% |
| Operating profit (loss)9901 | €49,428 | -€8,998 | €42,905 | €11,334 | €19,947 | €44,050 | ▲ 121% |
| Financial income75/76B | - | - | €74 | €102 | €43 | €3,376 | ▲ 79× |
| Recurring financial income75 | €0 | €8,867 | €74 | €102 | €43 | €3,376 | ▲ 79× |
| Financial charges65/66B | - | - | €14,133 | €6,049 | €14,115 | €13,075 | ▼ 7.4% |
| Recurring financial charges65 | €10,992 | €11,999 | €14,133 | €6,049 | €14,115 | €13,075 | ▼ 7.4% |
| Profit (loss) for the period before taxes9903 | €38,436 | -€12,130 | €28,845 | €5,387 | €5,875 | €34,351 | ▲ 485% |
| Income taxes67/77 | €3,696 | €364 | €3,819 | €2,525 | €27,845 | €13,974 | ▼ 49.8% |
| Profit (loss) for the period9904 | €34,740 | -€12,494 | €25,026 | €2,862 | -€21,970 | €20,377 | - |
| Profit (loss) for the period to be appropriated9905 | €34,740 | -€12,494 | €25,026 | €2,862 | -€21,970 | €20,377 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €553,847 | €464,311 | €428,645 | €558,397 | €504,779 | €458,245 | ▼ 9.2% |
| Fixed assets21/28 | €296,790 | €298,222 | €286,074 | €422,145 | €398,630 | €371,558 | ▼ 6.8% |
| Tangible fixed assets22/27 | €296,150 | €297,582 | €285,434 | €421,505 | €397,990 | €370,918 | ▼ 6.8% |
| Land and buildings22 | - | - | €19,237 | - | - | - | - |
| Plant, machinery and equipment23 | - | - | €31,083 | €1,571 | €1,397 | €1,224 | ▼ 12.4% |
| Furniture and vehicles24 | - | - | €16,158 | €23,837 | €20,898 | €27,963 | ▲ 33.8% |
| Leasing and similar rights25 | - | - | - | €396,097 | €375,694 | €339,802 | ▼ 9.6% |
| Other tangible fixed assets26 | - | - | €218,956 | - | - | €1,930 | - |
| Financial fixed assets28 | €640 | €640 | €640 | €640 | €640 | €640 | = |
| Current assets29/58 | €257,056 | €166,089 | €142,571 | €136,252 | €106,149 | €86,686 | ▼ 18.3% |
| Stocks and contracts in progress3 | - | €8,605 | €0 | - | - | - | - |
| Stocks30/36 | - | - | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €233,083 | €116,125 | €54,238 | €77,495 | €82,752 | €82,731 | = |
| Trade receivables40 | - | - | €48,452 | €74,295 | €57,163 | €47,914 | ▼ 16.2% |
| Other amounts receivable41 | - | - | €5,786 | €3,200 | €25,589 | €34,817 | ▲ 36.1% |
| Cash at bank and in hand54/58 | €22,402 | €10,073 | €7,758 | €43,968 | €17,772 | €1,763 | ▼ 90.1% |
| Deferred charges and accrued income490/1 | - | - | €80,576 | €14,789 | €5,625 | €2,193 | ▼ 61.0% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €553,847 | €464,311 | €428,645 | €558,397 | €504,779 | €458,245 | ▼ 9.2% |
| Equity10/15 | €35,084 | €22,589 | €47,615 | €50,477 | €28,507 | €42,884 | ▲ 50.4% |
| Contributions10/11 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | - | - | - | €6,200 | €6,200 | €6,200 | = |
| Issued capital100 | - | - | - | €18,600 | €18,600 | €18,600 | = |
| Uncalled capital101 | - | - | - | €12,400 | €12,400 | €12,400 | = |
| Contributions outside capital11 | - | - | €6,200 | - | - | - | - |
| Other1109/19 | - | - | €6,200 | - | - | - | - |
| Reserves13 | €1,932 | €1,932 | €1,932 | €1,932 | €1,932 | €16,309 | ▲ 744% |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | €1,860 | - | - | - | - |
| Tax-exempt reserves132 | - | - | €72 | €72 | €72 | €72 | = |
| Distributable reserves133 | - | - | - | - | - | €14,377 | - |
| Profit (loss) carried forward14 | €26,952 | €14,458 | €39,483 | €42,345 | €20,376 | €20,376 | = |
| Amounts payable17/49 | €518,763 | €441,722 | €381,030 | €507,920 | €476,271 | €415,360 | ▼ 12.8% |
| Amounts payable after more than one year17 | €247,945 | €243,880 | €221,383 | €387,940 | €356,606 | €335,083 | ▼ 6.0% |
| Financial debts170/4 | - | - | €221,383 | €387,940 | €356,606 | €335,083 | ▼ 6.0% |
| Amounts payable within one year42/48 | €270,818 | €197,842 | €157,345 | €117,678 | €117,280 | €80,268 | ▼ 31.6% |
| Current portion of amounts payable after more than one year42 | - | - | €22,496 | €10,359 | €24,150 | €28,206 | ▲ 16.8% |
| Financial debts43 | - | - | €321 | - | - | - | - |
| Credit institutions430/8 | - | - | €321 | - | - | - | - |
| Trade debts44 | €245,250 | €149,312 | €90,508 | €83,854 | €62,888 | €16,645 | ▼ 73.5% |
| Suppliers440/4 | - | - | €90,508 | €83,854 | €62,888 | €16,645 | ▼ 73.5% |
| Taxes, remuneration and social security45 | - | - | €24,560 | €11,414 | €15,662 | €23,461 | ▲ 49.8% |
| Taxes450/3 | - | - | €12,560 | €11,414 | €15,662 | €23,461 | ▲ 49.8% |
| Remuneration and social security454/9 | - | - | €12,000 | - | - | - | - |
| Other amounts payable47/48 | - | - | €19,460 | €12,051 | €14,580 | €11,957 | ▼ 18.0% |
| Accrued charges and deferred income492/3 | - | - | €2,302 | €2,302 | €2,386 | €10 | ▼ 99.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €34,740 | -€12,494 | €25,026 | €2,862 | -€21,970 | €20,377 | - |
| + Depreciation and write-downs630 | €23,192 | €26,864 | €29,622 | €28,373 | €39,005 | €41,065 | ▲ 5.3% |
| Operating cash flow (approximation) | €57,931 | €14,370 | €54,647 | €31,235 | €17,035 | €61,442 | ▲ 261% |
| Investment in fixed assets (approximation) | - | -€28,296 | -€17,474 | -€164,444 | -€15,490 | -€13,993 | ▲ 9.7% |
| Change in cash | - | -€12,329 | -€2,315 | €36,211 | -€26,196 | -€16,009 | ▲ 38.9% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 12 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-03-2025 | micro format | 29-10-2025 | 2025-00551986 |
| 31-03-2024 | micro format | 28-10-2024 | 2024-00515864 |
| 31-03-2023 | micro format | 01-11-2023 | 2023-00501905 |
| 31-03-2022 | micro format | 21-12-2022 | 2022-20542368 |
| 31-03-2021 | micro format | 02-03-2022 | 2022-06900141 |
| 31-03-2020 | micro format | 23-11-2020 | 2020-72700028 |
| 31-03-2018 | micro format | 08-11-2018 | 2018-71800479 |
| 31-03-2017 | micro format | 27-10-2017 | 2017-68300321 |
| 31-03-2016 | full format | 28-09-2016 | 2016-63200046 |
| 31-03-2015 | full format | 20-11-2015 | 2015-67100526 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| MASSART Emir Ali |
|
Owners and capital
Capital and shareholders
- 22-09-2025 Converted to unavailable equity · €6,200
- 22-09-2025 Converted to uncalled contributions · €12,400
Group and network
Holdings and subsidiaries
1 holdingHoldings 1
- Sourceown accounts 31-03-2024Equity €4,490Result €4,29034%
According to the annual accounts to 31-03-2024 of TWEM and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.
Connections & network
No directors read yet: 2 of 6 Gazette acts processed.
History
Acts, filings and financial milestones
22-09
Gazette deed
Resignation: MASSART Emir Ali (zaakvoerder bestuurder)Appointment: MASSART Emir Ali (director) · Permanent representative: MASSART Emir Ali · Legal-form conversion13 facts ▸
- General meeting, “eenparigheid der stempen, buitengewone algemene vergadering” (deed in Dutch)
- Legal-form conversion, “BV” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Capital conversion, “eigen vermogensrekening niet-opgevraagde inbrengen” (deed in Dutch)
- Reserve release, “statutair onbeschikbare eigen vermogensrekening, opheffen” (deed in Dutch)
- Other provision, “ontslag voorzitter voorlezing verslagen, leden verklaren sedert meer dan vijftien dagen kennis te hebben genomen” (deed in Dutch)
- Registered-office move, Brusseis Hoofdstedelijk Gewest, te 1000 Brussel, Adolphe Maxlaan, 26
- Amendment of the articles
- Director resignation, MASSART Emir Ali (zaakvoerder bestuurder)
- Director appointment, MASSART Emir Ali (director (not named in the articles))
- Permanent representative, MASSART Emir Ali
- Power of attorney
- +1 further fact in this act
Show earlier events
About the unread acts
Of the 6 Belgian Official Gazette deeds we know for this company, 2 have been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
2 establishment units
3 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21802B0429/00M002 | Brussels | 2,095 m² | 1 · 1,425 m² | 28.8 m · 8 |
| 21011A0008/00X000 | Brussels | 990 m² | 1 · 657 m² | 27.7 m · 9 |
| 22302D0191/00P003 | Flanders | 288 m² | 1 · 132 m² | 12.2 m · 3 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Toutes les activités de conseil en gestion, incluant - sans cependant que cette énumération puisse être interprétée comme se voulant…” (deed in French)
12 activities (deed in French)
- Toutes les activités de conseil en gestion, incluant - sans cependant que cette énumération puisse être interprétée comme se voulant exhaustive - l'optimisation des sources d'approvisionnement en matières premières et marchandises, des moyens de production, des stratégies commerciales, du recrutement de personnel, de la gestion des stocks en produits finis et marchandises, des sources et moyens de financement, de la gestion de la trésorerie, de la formation et de la motivation du personnel, des systèmes et méthodes informatiques, des méthodes et procédures de travail
- Toutes les activités de conseil de tout type et notamment économiques, financiers, stratégiques, de marketing ou autres
- Dans le secteur informatique et des télécommunications, toutes les activités de consultance, achat et vente de matériel et programmes, organisation de séminaires et formations, recherche et développement
- Toutes les activités liées au secteur du bien-être et notamment la pratique de soins thermaux, de massages, de l'aromathérapie, les soins esthétiques du visage et du corps, le maquillage, le coaching et conseils en image
- Fournir tous conseils, prestations de services et marchandises, concevoir et organiser tout événement dans le domaine du bien-être et de l'esthétique
- Organiser tous types d'évènements, de stages, d'animations et de loisirs à caractère sportif, notamment, dans le domaine du fitness et de la danse
- La gestion de l'image et des comptes artistiques pour artistes, youtubeurs, instagrammeurs ou influenceurs sur tous types de médias sociaux
- La gestion temporaire ou permanente de sociétés
- Toutes les opérations relatives à la gestion de son patrimoine privé, et notamment, la construction, l'aménagement, la décoration, la vente, l'achat, la gestion, la location sous toutes ses formes dont l'emphytéose de tous immeubles et des meubles qui les garnissent, et la mise en valeur de tous biens immobiliers ainsi que des activités de promotion et de transformations immobilières en général
- Accomplir tous actes et toutes opérations généralement quelconques, mobilières ou immobilières se rapportant directement ou indirectement à son objet social et notamment s'intéresser par tous moyens, par voie d'association, de souscription, de participations, d'acquisition, de cession, d'apport et de fusion ou autrement dans toutes sociétés ou entreprises existantes ou à créer, en Belgique ou à l'étranger, et dont l'objet serait analogue ou connexe au sien ou qui serait de nature à favoriser le développement de son activité dans le cadre de son objet
- Accepter et exercer un mandat d'administrateur, de gérant ou de liquidateur dans toutes sociétés, quel que soit son objet social
- Constituer toute hypothèque ou toute autre sûreté réelle sur les biens sociaux ou se porter caution au profit de tiers
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- TWEM
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région de Bruxelles-Capitale, simple décision de l'organe d'administration” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Organe d'administration, nommés avec ou sans limitation de durée” (deed in French)“Rémunération des administrateurs, L'assemblée générale décide si le mandat d'administrateur est ou non exercé gratuitement” (deed in French)1 more provision on this in the deed
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Nominatives, Les titulaires d'actions peuvent prendre connaissance de ce registre relatif à leurs titres” (deed in French)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Des certificats constatant ces inscriptions sont délivrés aux titulaires des titres, Les cessions n'ont d'effet vis-à-vis de la société et…” (deed in French)“Applicables dans tous les cas de cessions entre vifs, soit à titre onéreux, soit à titre gratuit, tant volontaires que forcées (cas de…” (deed in French)
- Share issue ruleHow and by whom new shares can be issued.
- “En cas d'actionnaire unique-administrateur, ce dernier détermine librement, au fur et à mesure des besoins de la société et aux époques…” (deed in French)“Offertes par préférence aux actionnaires existants, proportionnellement au nombre d'actions qu'ils détiennent, 15” (deed in French)
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Dissolution, par décision de l'assemblée générale délibérant dans les formes prévues pour les modifications aux statuts” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Liquidateurs, sans préjudice de la faculté de l'assemblée générale de désigner un ou plusieurs liquidateurs et de déterminer leurs pouvoirs…” (deed in French)