Active BE 0847.303.710Private limited company

TWGG

Tongerlostraat 61 ·2260 Westerlo, Belgium· 14 yrs active

Sector: Business and other management consultancy (70200)

Conclusion Checked

TWGG has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €167k and a net result of €19k. Equity is growing by ~12.2% per year across the filed fiscal years. Its solvency ranks better than 15% of 30893 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Based on the State Gazette, CBE and 4 annual accounts.

Key figures

Equity	€167k
Net result	€19k
Better than sector	15%
Active	14 yrs

Financial profile 5 of 5 axes measured · computed by Checked

51 / 100

Mixed profile: strong on stability, weaker on solvency.

All 5 axes are computed from data Checked has read.

Health 43

Profitability 57

Solvency 5

Growth 52

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.1% Very low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Established

Founded in 2012, 14 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

43 / 100 Weak

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€7k

estimate, not credit advice

Score history

43 2022

31 2023

51 2024

43 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 0.24 (< 1.0) -10

Quick ratio Quick ratio 0.04 (< 0.6) -5

Leverage Debt/equity 12.93 (> 3.0) -10

Profitability ROE 11% (≥ 10%) +10

Interest coverage Interest coverage 3.6× (≥ 3×) +8

Profit trend Net profit down YoY -3

Equity growth Equity growing YoY +3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview13 NBB filings

Annual accounts filed on 20-04-2026 with the NBB · fiscal year 2025 · micro schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~12.2%/year over 4 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 70, Activities of head offices; management consultancy activities · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	7.2%	55.9%	better than 15% of 30893 sector peers
Net result	€19k	€27k	better than 43% of 30902 sector peers
Equity	€167k	€83k	better than 67% of 30919 sector peers
Gross operating margin	€125k	€54k	better than 79% of 30861 sector peers
Total assets	€2.33M	€186k	better than 95% of 30907 sector peers

EBITDA

€116k

-11.1% 22-25

Net profit

€19k

-15.1% 22-25

Cash flow

€82k

-4.0% 22-25

Total assets

€2.33M

+29.2% 22-25

Equity

€167k

+13.0% 22-25

Working capital

€-849k

-14.2% 22-25

Income taxes

€2k

-23.8% 22-25

Debt

€2.16M

+30.7% 22-25

Debt ≤ 1y

€1.11M

+11.4% 22-25

Debt > 1y

€1.05M

+60.0% 22-25

Current ratio

0.24

-7.2% 22-25

Quick ratio

0.04

+11.6% 22-25

Solvency

7.2%

-12.6% 22-25

Debt / equity

12.93

+15.7% 22-25

ROE

11.5%

-24.8% 22-25

ROA

0.8%

-34.3% 22-25

Interest coverage

3.57

+16.7% 22-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022
Deposit	micro schema	micro schema	micro schema	micro schema
Revenue	-	-	-	-
EBITDA	€116k	€131k	€110k	€199k
Net profit	€19k	€23k	€4k	€34k
Cash flow	€82k	€86k	€67k	€150k
Staff costs	-	-	-	-
Income taxes	€2k	€3k	€2k	€17k
Dividends	-	-	-	-
Total assets	€2.33M	€1.80M	€1.60M	€1.73M
Equity	€167k	€148k	€125k	€121k
Debt	€2.16M	€1.65M	€1.48M	€1.61M
of which ≤ 1y	€1.11M	€997k	€747k	€805k
of which > 1y	€1.05M	€655k	€728k	€800k
Working capital	€-849k	€-744k	€-505k	€-500k
Employees (FTE)	-	-	-	-

Ratios (computed)

	2025	2024	2023	2022
Current ratio	0.24	0.25	0.32	0.38
Quick ratio	0.04	0.04	0.03	0.10
Working capital ratio	-36.5%	-41.3%	-31.5%	-29.0%
Solvency	7.2%	8.2%	7.8%	7.0%
Debt / equity	12.93	11.18	11.78	13.29
Long-term debt ratio	6.27	4.43	5.82	6.62
Interest coverage	3.57	3.06	2.69	6.07
Gross margin	-	-	-	-
Net margin	-	-	-	-
ROA	0.8%	1.3%	0.3%	1.9%
ROE	11.5%	15.3%	3.5%	27.8%
EBITDA margin	-	-	-	-
Days sales outstanding	-	-	-	-
Days payable outstanding	-	-	-	-
Inventory turnover	-	-	-	-
Days inventory (DSI)	-	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €2.06M · 88.7% Current assets €262k · 11.3%

Equity & liabilities

Equity €167k · 7.2% Debt €2.16M · 92.8%

Full annual accounts (23 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022
Balance sheet, Assets
TOTAL ASSETS	20/58	€2.33M	€1.80M	€1.60M	€1.73M
Fixed assets	21/28	€2.06M	€1.55M	€1.36M	€1.42M
Tangible fixed assets	22/27	€2.06M	€1.55M	€1.36M	€1.42M
Current assets	29/58	€262k	€254k	€242k	€305k
Stocks & contracts in progress	3	€218k	€218k	€218k	€222k
Amounts receivable within one year	40/41	€27k	€33k	€23k	€81k
Cash & bank	54/58	€17k	€783	€1k	€2k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€2.33M	€1.80M	€1.60M	€1.73M
Equity	10/15	€167k	€148k	€125k	€121k
Contributions / capital	10/11	€6k	€6k	€6k	€6k
Reserves	13	€161k	€142k	€119k	€115k
Amounts payable	17/49	€2.16M	€1.65M	€1.48M	€1.61M
Amounts payable after one year	17	€1.05M	€655k	€728k	€800k
Amounts payable within one year	42/48	€1.11M	€997k	€747k	€805k
Trade debts payable within one year	44	€59k	€24k	€4k	€11k
Income statement
Gross operating margin	9900	€125k	€142k	€119k	€272k
Operating result	9901	€53k	€68k	€47k	€83k
Financial income	75	€271	-	-	-
Financial charges	65	€33k	€43k	€41k	€33k
Result before taxes	9903	€21k	€25k	€6k	€50k
Income taxes	67/77	€2k	€3k	€2k	€17k
Net result for the period	9904	€19k	€23k	€4k	€34k
Result to be appropriated	9905	€19k	€23k	€4k	€34k

Directors & mandates 2 directors

Current directors & mandates

TROONBEECKX Johan
Director
State Gazette act 24412095 (03-07-2024)

Current
03-07-2024 → present
2 events
- 03-07-2024 Resigned· Director
- 03-07-2024 Appointed· Director
WILLEMS Esther
Director
State Gazette act 24412095 (03-07-2024)

Current
03-07-2024 → present
2 events
- 03-07-2024 Resigned· Director
- 03-07-2024 Appointed· Director

Legal Structure

NACE primary	Business and other management consultancy(70200)
Legal form	Private limited company(610)
Incorporation	10-07-2012
Status	Active
Postal code	2260

Establishment units 1 location

Tongerlostraat 61, 2260 Westerlo

Real estate activities

since 20122.211.349.184

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
13028C0347/00B000	Flanders	446 m²	-	-

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 11 events

All 13Financial 2Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 30-04-2027

2026

20-04

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

30-09

Financial Equity above €150kEq €167k ▲13%

4 profitable years in a row build equity to €167k.

28-04

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

03-07

State Gazette act Director changes

VERLINDEN Marc

08-04

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

30-09

Financial Weakest financial yearnet €4k ▼86.9%

Net result drops to €4k, the lowest in the series; recovery starts the following year.

27-04

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

21-04

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

30-04

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

24-04

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2019

26-03

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2018

22-03

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2017

16-03

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 4 acts read

We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 2 years ago

2024

03-07-2024 2 directors appointed, 2 resigning Director changes·VERLINDEN Marc

TROONBEECKX Johan, Bestuurder
WILLEMS Esther, Bestuurder
TROONBEECKX Johan, Bestuurder
WILLEMS Esther, Bestuurder

Notary: VERLINDEN Marc · Westerlo-Tongerlo

Original publication ↗

Technical details

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Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Business and other management consultancy70200Business consulting70220Buying and selling of own real estate68110Activities of head offices; management consultancy activities70210Public relations and communication consultancy73300Other business support services82990

Names & trade names

Legal nameNL

TWGG

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