TWILIGHT
ActiveSummary
TWILIGHT has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €69,380 and a net result of €24,522. Equity is growing by ~43.6% per year across the filed fiscal years. Its solvency ranks better than 95% of 2026 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency100▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity ample (current ratio 21.73 against 7.8 in 2024; short-term debt: 4.6% and cash: 82.3% of total assets), and 4.6% of the assets are financed with debt.
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Signals
Four 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 90
Relative position
BE, all sectors
reference
Arts creation and performing arts activities (NACE 90)
about 58% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
95.4%
Return on assets
33.7%
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 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
17 d early
2023
30 d early
2022
59 d early
2021
5 d early
2020
3 d early
2019
38 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 26 days before the deadline; the sector median for financial year 2024 is 4 days before the deadline, and 38% 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#8 oldest company in Ostend, Arts, sports and recreation sector
Equity
€69,380▲ 54.7%
2024 · €44,859
Total assets
€72,728▲ 8.7%
2024 · €66,894
Net result
€24,522▼ 19.1%
2024 · €30,309
Working capital
€69,380▲ 26.9%
2024 · €54,670
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 90, Arts creation and performing arts 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€19,083▲ 187%€28,328▲ 48.4%€26,602▼ 6.1%€36,711▲ 38.0%€36,594▼ 0.3%
Net result€19,183within the sector's middle half▲ 1,424%€28,156above the sector's middle half▲ 46.8%€26,280above the sector's middle half▼ 6.7%€30,309above the sector's middle half▲ 15.3%€24,522above the sector's middle half▼ 19.1%
Equity-€39,886below the sector's middle half▲ 32.5%-€11,730below the sector's middle half▲ 70.6%€14,550within the sector's middle half€44,859within the sector's middle half▲ 208%€69,380within the sector's middle half▲ 54.7%
Total assets€19,947below the sector's middle half▲ 508%€19,808below the sector's middle half▼ 0.7%€33,642below the sector's middle half▲ 69.8%€66,894within the sector's middle half▲ 98.8%€72,728within the sector's middle half▲ 8.7%
Debt€59,832▼ 4.0%€31,538▼ 47.3%€19,092▼ 39.5%€22,035▲ 15.4%€3,347▼ 84.8%
Working capital-€30,595below the sector's middle half▲ 33.6%-€5,705below the sector's middle half▲ 81.4%€22,468within the sector's middle half€54,670within the sector's middle half▲ 143%€69,380within the sector's middle half▲ 26.9%
Solvency-200.0%below the sector's middle half-59.2%below the sector's middle half▲ 140.7pp43.2%within the sector's middle half▲ 102.5pp67.1%within the sector's middle half▲ 23.8pp95.4%above the sector's middle half▲ 28.3pp
Current ratio0.33below the sector's middle half0.67below the sector's middle half▲ 0.345.41above the sector's middle half▲ 4.747.80above the sector's middle half▲ 2.3921.73above the sector's middle half▲ 13.92
Return on assets (ROA)96.2%above the sector's middle half142.1%above the sector's middle half▲ 46.0pp78.1%above the sector's middle half▼ 64.0pp45.3%above the sector's middle half▼ 32.8pp33.7%above the sector's middle half▼ 11.6pp
above
within
below
the middle half (P25 to P75) of NACE 90, Arts creation and performing arts 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 falls in 2025; 2025 is 0% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €72,728
Equity
€69,380 ▲ 54.7%
Debt
€3,347 ▼ 84.8%
Debt's share of the balance-sheet total falls from 32.9% to 4.6%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.05▼
2024 · 0.49
ROE
35.3%▼
2024 · 67.6%
Debt ≤ 1 year
€3,347▼
2024 · €8,035
Income taxes
€12,130▲
2024 · €6,561
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,662 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% | 1.7% |
| 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 75% 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 31,349 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €864 | - | - | €1,050 | - |
| Remuneration, social security and pensions62 | €0 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €732 | €1,747 | €1,893 | €1,893 | - | - |
| Other operating charges640/8 | €1,957 | €2,342 | €2,379 | €4,067 | €974 | ▼ 76.1% |
| Gross operating margin9900 | €21,772 | €32,418 | €30,875 | €42,671 | €37,568 | ▼ 12.0% |
| Operating profit (loss)9901 | €19,083 | €28,328 | €26,602 | €36,711 | €36,594 | ▼ 0.3% |
| Financial income75/76B | €389 | €99 | €182 | €316 | €406 | ▲ 28.6% |
| Recurring financial income75 | €389 | €99 | €182 | €316 | €406 | ▲ 28.6% |
| Financial charges65/66B | €290 | €271 | €504 | €157 | €348 | ▲ 121% |
| Recurring financial charges65 | €290 | €271 | €504 | €157 | €348 | ▲ 121% |
| Profit (loss) for the period before taxes9903 | €19,183 | €28,156 | €26,280 | €36,870 | €36,652 | ▼ 0.6% |
| Income taxes67/77 | - | - | - | €6,561 | €12,130 | ▲ 84.9% |
| Profit (loss) for the period9904 | €19,183 | €28,156 | €26,280 | €30,309 | €24,522 | ▼ 19.1% |
| Profit (loss) for the period to be appropriated9905 | €19,183 | €28,156 | €26,280 | €30,309 | €24,522 | ▼ 19.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €19,947 | €19,808 | €33,642 | €66,894 | €72,728 | ▲ 8.7% |
| Fixed assets21/28 | €4,709 | €7,976 | €6,082 | €4,189 | - | - |
| Tangible fixed assets22/27 | €4,709 | €7,976 | €6,082 | €4,189 | - | - |
| Plant, machinery and equipment23 | €4,709 | €7,976 | €6,082 | €4,189 | - | - |
| Current assets29/58 | €15,237 | €11,832 | €27,560 | €62,705 | €72,728 | ▲ 16.0% |
| Stocks and contracts in progress3 | €8,584 | €7,267 | €5,573 | €4,809 | - | - |
| Stocks30/36 | €8,584 | €7,267 | €5,573 | €4,809 | - | - |
| Amounts receivable within one year40/41 | €187 | €72 | €3,188 | €8,374 | €12,857 | ▲ 53.5% |
| Trade receivables40 | €100 | €72 | €2,630 | €78 | €1,731 | ▲ 2,119% |
| Other amounts receivable41 | €87 | - | €558 | €8,296 | €11,126 | ▲ 34.1% |
| Cash at bank and in hand54/58 | €6,355 | €4,373 | €18,697 | €48,385 | €59,870 | ▲ 23.7% |
| Deferred charges and accrued income490/1 | €111 | €120 | €102 | €1,137 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €19,947 | €19,808 | €33,642 | €66,894 | €72,728 | ▲ 8.7% |
| Equity10/15 | -€39,886 | -€11,730 | €14,550 | €44,859 | €69,380 | ▲ 54.7% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €23,860 | €48,382 | ▲ 103% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €22,000 | €46,522 | ▲ 111% |
| Profit (loss) carried forward14 | -€60,346 | -€32,190 | -€5,910 | €2,399 | €2,399 | = |
| Amounts payable17/49 | €59,832 | €31,538 | €19,092 | €22,035 | €3,347 | ▼ 84.8% |
| Amounts payable after more than one year17 | €14,000 | €14,000 | €14,000 | €14,000 | - | - |
| Financial debts170/4 | €14,000 | €14,000 | €14,000 | €14,000 | - | - |
| Amounts payable within one year42/48 | €45,832 | €17,538 | €5,092 | €8,035 | €3,347 | ▼ 58.3% |
| Financial debts43 | €1,266 | €711 | €612 | €630 | - | - |
| Credit institutions430/8 | €1,266 | €711 | €612 | €630 | - | - |
| Trade debts44 | €626 | €2,325 | €3,827 | €4,245 | €2,499 | ▼ 41.1% |
| Suppliers440/4 | €626 | €2,325 | €3,827 | €4,245 | €2,499 | ▼ 41.1% |
| Advances received on contracts in progress46 | - | €87 | - | - | - | - |
| Taxes, remuneration and social security45 | €6,029 | €1,345 | €529 | €3,160 | €848 | ▼ 73.2% |
| Taxes450/3 | €6,029 | €1,345 | €529 | €3,160 | €848 | ▼ 73.2% |
| Other amounts payable47/48 | €37,911 | €13,069 | €124 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,183 | €28,156 | €26,280 | €30,309 | €24,522 | ▼ 19.1% |
| + Depreciation and write-downs630 | €732 | €1,747 | €1,893 | €1,893 | - | - |
| Operating cash flow (approximation) | €19,915 | €29,903 | €28,173 | €32,202 | €24,522 | ▼ 23.9% |
| Investment in fixed assets (approximation) | - | -€5,013 | €0 | €0 | - | - |
| Change in cash | - | -€1,982 | €14,324 | €29,688 | €11,485 | ▼ 61.3% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
19-03
State Gazette act
Appointment: Wendy Coucke (non-statutory director)Mandate compensation · Power of attorney4 facts ▸
State Gazette act
Appointment: Wendy Coucke (non-statutory director)
Mandate compensation · Power of attorney4 facts ▸
- General meeting, 01/03/2026
- Director appointment, Wendy Coucke (non-statutory director)
- Mandate compensation, Wendy Coucke
- Power of attorney, BV CALCULE
2025
31-12
Financial
Liquidity triplescurrent ratio 21.73
Current ratio from 7.80 to 21.73; short-term debt falls from €8,035 to €3,347.
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €30,309 ▲15.3%
Operating result €36,711, net result €30,309, both a record.
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity times 8current ratio 5.41
Current ratio from 0.67 to 5.41; short-term debt falls from €17,538 to €5,092.
02-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €20,059
Net result €20,059 after one loss-making year.
Show earlier events
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 29 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 2 acts read
About the unread acts
Of the 2 Belgian State Gazette acts we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Wendy Coucke
CurrentNon-statutory director · since 01-03-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
1 of this company's 2 Belgian State Gazette acts has not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Oostende · 1 establishment unit since 1993
Ground area
346 m²
Building footprint
98 m²
Volume, LiDAR
631 m³
Parcel 35020C0265/00N002, Flanders · tallest building 10.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
TWILIGHT
since 19932.063.060.732
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35020C0265/00N002 | Flanders | 346 m² | 1 · 98 m² | 10.8 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.
Mandate history
1 person since 2026, 1 in office
- Board
| Name | Functions and periods |
|---|---|
| Wendy Coucke |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Click a node to look further, drag to arrange, scroll to zoom.
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Of 8,313 companies in sector 90201 we hold annual accounts for 601. 487 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 (pre-2019)
Founded01-07-1993
Fiscal year end31-12
Activities, NACEBEL 2025
90201Performing arts by independent artists
56400Food and beverage service activities
77222Rental and leasing activities
77399Renting and leasing of other machinery, equipment and tangible goods
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0450437514
Also
9925:BE0450437514
Registered
23-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.