TAVARES

Active

Private limited companyfounded 201214 yrs activeTerhulpsesteenweg 166, 1170 Watermaal-Bosvoorde, BelgiumKBO/BCE: BE 0845.277.004

TAVARES has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €74.09M and a net result of €39k. Equity remains stable across the filed fiscal years (±0% per year). The computed 12-month bankruptcy probability is 1.2% (low).

Watch Print / PDF

Checked score

Score 2025

73 / 100

Healthy▼ -15 vs 2024

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability0▼-100

Solvency78▲+1

Growth78=

Stability100

Bankruptcy probability, 12 months

1.2% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €2M at 30 days acceptable

Liquidity tight (current ratio 1.1 against 1.07 in 2024), and 42.8% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

No NACE activity registered

No NACE activity is registered in the KBO, which is more common among companies that later fail.

KBO · activities

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

57.2%

Return on assets

Age of the figures

8 mo

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-06-2026, 37 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

37 d early

2024

20 d early

2023

16 d early

2022

34 d early

2021

38 d early

2020

43 d early

2019

35 d early

← before the deadline after the deadline →

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 months

Position in the running window

12-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, full schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€39k▼ 99.9%

2024 · €58.24M

2018: €-7k 2019: €-7k 2020: €-10k 2021: €-18k 2022: €-26k 2023: €-20k 2024: €58.24M

2018 → 2025

Working capital

€5.23M▲ 28.7%

2024 · €4.06M

2018: €-101k 2019: €-108k 2020: €-117k 2021: €-135k 2022: €-161k 2023: €-181k 2024: €4.06M

2018 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€69.85M-€69.83M=€69.81M=€74.05M▲ 6.1%€74.09M▲ 0.1%

Operating result€-17k-€-26k▼ 50.1%€-19k▲ 27.0%€-10k▲ 47.3%€-20k▼ 104%

Net result€-18k-€-26k▼ 47.2%€-20k▲ 23.8%€58.24M€39k▼ 99.9%

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €20k in 2025 against €10k in 2024; the loss grows.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €129.47M

54.1%

45.9%

Fixed assets €69.99M=

Current assets €59.48M▲ 2.0%

Equity and liabilities €129.47M

57.2%

42.8%

Equity €74.09M▲ 0.1%

Debt €55.38M▲ 2.1%

The debt ratio rises from 42.3% to 42.8%: debt grows faster than equity.

Key figures and ratios

2025 value · change against 2024

Solvency

57.2%▼

2024 · 57.7%

Current ratio

1.10▲

2024 · 1.07

Quick ratio

1.10▲

2024 · 1.07

Debt / equity

0.75▲

2024 · 0.73

ROE

0.1%▼

2024 · 78.7%

ROA

0.0%▼

2024 · 45.4%

Debt

€55.38M▲

2024 · €54.24M

Debt ≤ 1 year

€54.26M=

2024 · €54.24M

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€128.29M€129.47M▲

Fixed assets21/28€69.99M€69.99M=

Financial fixed assets28€69.99M€69.99M=

Affiliated companies280/1€69.99M€69.99M=

Participating interests280€69.99M€69.99M=

Current assets29/58€58.30M€59.48M▲

Amounts receivable within one year40/41€58.25M€59.44M▲

Other amounts receivable41€58.25M€59.44M▲

Cash at bank and in hand54/58€47k€46k▼

Equity and liabilities

Total equity and liabilities10/49€128.29M€129.47M▲

Equity10/15€74.05M€74.09M▲

Contributions10/11€73.96M€73.96M=

Profit (loss) carried forward14€93k€131k▲

Amounts payable17/49€54.24M€55.38M▲

Amounts payable within one year42/48€54.24M€54.26M=

Trade debts44€10k€10k▲

Suppliers440/4€10k€10k▲

Other amounts payable47/48€54.23M€54.25M=

Accrued charges and deferred income492/3-€1.13M

Income statement Code20242025

Operating charges60/66A€10k€20k▲

Services and other goods61€9k€18k▲

Other operating charges640/8€1k€2k▲

Operating profit (loss)9901€-10k€-20k▼

Financial income75/76B€58.25M€1.19M▼

Recurring financial income75€58.25M€1.19M▼

Income from financial fixed assets750€58.10M-

Income from current assets751€149k€1.19M▲

Financial charges65/66B€682€1.13M▲

Recurring financial charges65€682€1.13M▲

Debt charges650€682€1.13M▲

Profit (loss) for the period before taxes9903€58.24M€39k▼

Profit (loss) for the period9904€58.24M€39k▼

Profit (loss) for the period to be appropriated9905€58.24M€39k▼

Appropriation of the result

Profit (loss) to be appropriated9906€54.09M€131k▼

Profit (loss) brought forward from the previous period14P€-4.15M€93k▲

Profit to be distributed694/7€54.00M€0▼

Return on contributions (dividend)694€54.00M€0▼

The notes to these accounts (19 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 37Financial 3Gazette 24Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

23-07

State Gazette act Resignations & appointments

General meeting · Auditor resignation · Auditor appointment4 facts ▸

General meeting, 2026-06-03
Auditor resignation, BDO Bedrijfsrevisoren BV
Auditor appointment, KPMG Bedrijfsrevisoren BV/SRL
Permanent representative, Mike Boonen

24-06

NBB filing Annual accounts filed

fiscal year 2025 · full schema

03-03

State Gazette act Resignations & appointments

General meeting · Director appointment · Board composition4 facts ▸

General meeting, 2026-02-13
Director appointment, Jean-Philippe Noblet (bestuurder)
Board composition, bestuurder, 2026-02-13
Board composition, bestuurder, 2026-02-13

2025

26-11

State Gazette act Resignations & appointments

General meeting · Director resignation2 facts ▸

General meeting, 2025-10-24
Director resignation, Hjalmar Van Raemdonck (bestuurder)

11-07

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

31-12

Financial Back to profitnet €58.24M

Net result €58.24M after 6 loss-making years.

31-12

Financial Liquidity times 5current ratio 1.07

Current ratio from 0.21 to 1.07.

29-07

State Gazette act Resignations & appointments

General meeting · Director resignation · Director appointment5 facts ▸

General meeting, 2024-07-15
Director resignation, Natalia Noblet (bestuurder)
Director appointment, Hjalmar Van Raemdonck (bestuurder)
Board composition, bestuurder, 2024-08-01
Board composition, bestuurder, 2024-08-01

16-07

State Gazette act Resignations & appointments

Auditor resignation · Auditor appointment · Permanent representative3 facts ▸

Auditor resignation, EY REVISEURS D'ENTREPRISES SRL (commissaris)
Auditor appointment, BDO Bedrijfsrevisoren BV (commissaris)
Permanent representative, Evy Borry

15-07

NBB filing Annual accounts filed

fiscal year 2023 · full schema

29-03

State Gazette act Resignations & appointments

General meeting · Director resignation · Director appointment5 facts ▸

General meeting, 2024-03-18
Director resignation, Nicolas Jerome (bestuurder)
Director appointment, Natalia Noblet (bestuurder)
Board composition, bestuurder, 2024-04-01
Board composition, bestuurder, 2024-04-01

2023

27-06

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

31-12

Financial Weakest financial yearnet €-26k

Net result drops to €-26k, the lowest in the series; recovery starts the following year.

22-11

State Gazette act Resignations & appointments

General meeting · Director appointment · Board composition4 facts ▸

General meeting, 2022-09-30
Director appointment, Gauthier Cachbach (bestuurder)
Board composition, bestuurder, 2022-10-01
Board composition, bestuurder, 2022-10-01

23-06

NBB filing Annual accounts filed

fiscal year 2021 · full schema

2021

22-07

State Gazette act Statutes amendment · Legal-form change · Miscellaneous

General meeting · Statutes amendment · Reserve release9 facts ▸

General meeting, 2021-07-15
Statutes amendment
Reserve release, Statutair onbeschikbare eigen vermogensrekening opgeheven en middelen beschikbaar gemaakt voor uitkering
Statutes amendment
Statutes amendment
Corporate purpose, Alle verrichtingen voor eigen rekening of voor rekening van derden... die rechtstreeks of onrechtstreeks verband houden met: - het huren en verhuren... van alle…
Capital
Director reappointment, TAVARES (bestuurder)
Registered-office confirmation, 1170 Watermaal-Bosvoorde, Terhulpsesteenweg 166

18-06

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

23-12

State Gazette act Legal-form change · Resignations & appointments

General meeting · Auditor reappointment2 facts ▸

General meeting, 2020-06-03
Auditor reappointment, 3 boekjaren

23-12

State Gazette act Resignations & appointments

General meeting · Director resignation · Director appointment4 facts ▸

General meeting, 03/12/2020
Director resignation, Lisa Brown (bestuurder)
Director appointment, Nicolas Jérôme (bestuurder)
Board composition, bestuurder, 01/09/2020

26-06

NBB filing Annual accounts filed

fiscal year 2019 · full schema

27-01

NBB filing Annual accounts filed

fiscal year 2018 · full schema · 180 days late

2018

02-08

NBB filing Annual accounts filed

fiscal year 2017 · full schema · 2 days late

2017

03-07

State Gazette act Resignations & appointments

General meeting · Auditor reappointment2 facts ▸

General meeting, 2017-06-07
Auditor reappointment, commissaris, 3 boekjaren

29-06

NBB filing Annual accounts filed

fiscal year 2016 · full schema

2015

09-12

State Gazette act Resignations & appointments

Permanent representative · Power of attorney2 facts ▸

Permanent representative, Wim Van Gasse
Power of attorney, Corpoconsult BVBA

29-06

State Gazette act Resignations & appointments

General meeting · Director resignation · Director appointment4 facts ▸

General meeting, 2015-06-08
Director resignation, Vincent PICKERING (zaakvoerder)
Director resignation, Jef VAN OSTA (zaakvoerder)
Director appointment, Lisa BROWN (zaakvoerder)

07-05

State Gazette act Registered office

Board meeting · Registered-office move2 facts ▸

Board meeting, 2015-04-22
Registered-office move, Terhulpsesteenweg 166, 1170 Brussel

2014

30-07

State Gazette act Statutes amendment · Legal-form change · Resignations & appointments

General meeting · Legal-form conversion · Capital8 facts ▸

General meeting, 2014-06-27
Legal-form conversion, naamloze vennootschap naar besloten vennootschap met beperkte aansprakelijkheid
Capital, €73.955.954
Corporate purpose, Alle verrichtingen voor eigen rekening of voor rekening van derden, onder welke benaming ook, industriële, commerciële, financiële, roerende en onroerende, zowe…
Director resignation, Jozef Louis VAN OSTA (bestuurder)
Director resignation, Vincent Roland PICKERING (bestuurder)
Director appointment, Jozef Louis VAN OSTA (zaakvoerder)
Director appointment, Vincent Roland PICKERING (zaakvoerder)

18-06

State Gazette act Resignations & appointments

General meeting · Auditor appointment · Permanent representative3 facts ▸

General meeting, 2014-06-04
Auditor appointment, Ernst & Young bedrijfsrevisoren Bcvba (commissaris)
Permanent representative, Piet Hemschoote

30-04

State Gazette act Capital & shares · Statutes amendment

General meeting · Registered-office move · Statutes amendment7 facts ▸

General meeting, 2014-04-08
Registered-office move, Oudergem (1160 Brussel), Waversesteenweg 1789
Statutes amendment
Capital, €25.693.500
Capital increase, €48.262.454
Share issue, 48262454, 25.693.501 tot 73.955.954
Power of attorney

06-03

State Gazette act Resignations & appointments

General meeting · Director resignation · Director appointment11 facts ▸

General meeting, 2014-02-12
Director resignation, Cassel BVBA (bestuurder)
Director resignation, H&H Capital Management BVBA (bestuurder)
Director resignation, Ludwig Lemenu (bestuurder)
Director resignation, Cassel BVBA (dagelijks bestuurder)
Director appointment, Jef van Osta (bestuurder)
Director appointment, Vincent Pickering (bestuurder)
Mandate compensation, Jef van Osta
Mandate compensation, Vincent Pickering
Permanent representative, Walter Mastelinck
Permanent representative, Herman Wielfaert

06-03

State Gazette act Registered office · Resignations & appointments

Board meeting · Registered-office move · Power of attorney5 facts ▸

Board meeting, 2014-02-18
Registered-office move, Waversesteenweg 1789, 1160 Oudergem, België
Power of attorney, Inge Stiers
Power of attorney, Susana Gonzalez Melon
Power of attorney, Allen & Overy LLP

2012

14-11

State Gazette act Capital & shares

General meeting · Capital increase · Share issue9 facts ▸

General meeting, 2012-10-10
Capital increase, €25.632.000
Share issue, Klasse A, 6064358
Share issue, Klasse B, 8472697
Share issue, Klasse C, 7094945
Share issue, Klasse D, 4000000
Capital, €25.693.500
Statutes amendment
Preemptive rights waiver, De aandeelhouders doen hierbij afstand van hun voorkeurrecht

04-07

State Gazette act Statutes amendment

General meeting · Statutes amendment5 facts ▸

General meeting, 2012-06-13
Statutes amendment
Statutes amendment
Statutes amendment
Statutes amendment

30-05

State Gazette act Resignations & appointments

Board meeting · Director appointment · Permanent representative3 facts ▸

Board meeting, 2012-04-12
Director appointment, Cassel BVBA (dagelijks bestuurder)
Permanent representative, Walter Mastelinck

10-05

State Gazette act Capital & shares

General meeting1 fact ▸

General meeting, 2012-04-18

26-04

State Gazette act Incorporation

Incorporation · Founding capital · Corporate purpose10 facts ▸

Incorporation, 12/04/2012
Founding capital, €61.500
Corporate purpose, Alle verrichtingen, voor eigen rekening of voor rekening van derden, onder welke benaming ook, industriële, commerciële, financiële, roerende en onroerende, zow…
First fiscal year, 01/07/2012 - 31/12/2013
Director appointment, Cassel BVBA (Klasse A Bestuurder)
Permanent representative, Walter Mastelinck
Director appointment, H&H Capital Management BVBA (Klasse B Bestuurder)
Permanent representative, Herman Wielfaert
Director appointment, Lemenu Ludwig Gerard Corneel (Klasse C Bestuurder)
Accounting effect, 01/07/2013

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

Directors · office · real estate

Directors

13 directors, no change since 2026

Jean-Philippe Noblet

Director · since 13-02-2026

Current

Gauthier Cachbach

Director · since 01-10-2022

Current

Cassel

Klasse a bestuurder · since 12-04-2012 · Private limited company · perm. rep.: Walter Mastelinck

Not recently confirmed

CREALOAN

Klasse b bestuurder · since 12-04-2012 · Private limited company · perm. rep.: Herman Wielfaert

Not recently confirmed

Lemenu Ludwig Gerard Corneel

Klasse c bestuurder · since 12-04-2012

Not recently confirmed

13-02-2026 Jean-Philippe Noblet: Appointed as Director

24-10-2025 Hjalmar Van Raemdonck: Resigned as Director

31-07-2024 Natalia Noblet: Resigned as Director

31-03-2024 Nicolas Jerome: Resigned as Director

01-10-2022 Gauthier Cachbach: Appointed as Director

31-08-2020 Lisa Brown: Resigned as Director

08-06-2015 Jef VAN OSTA: Resigned as Manager

27-06-2014 Jozef Van Osta: Resigned as Director

27-06-2014 Vincent Pickering: Resigned as Director

12-02-2014 Cassel BVBA: Resigned as Daily management

16-05-2012 Cassel BVBA: Appointed as Dagelijks bestuurder

12-04-2012 Cassel: Appointed as Klasse a bestuurder

12-04-2012 CREALOAN: Appointed as Klasse b bestuurder

12-04-2012 Lemenu Ludwig Gerard Corneel: Appointed as Klasse c bestuurder

Location & real-estate footprint

Registered office, Watermaal-Bosvoorde · 1 establishment unit since 2012

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Terhulpsesteenweg 1661170 Watermaal-Bosvoorde

Ground area

3.2 ha

Building footprint

7,322 m²

Volume, LiDAR

125,390 m³

Parcel 21652E0030/00D002, Brussels · tallest building 21.0 m, ±6 floors. Linked by address, not a title deed.

1 establishment unit

TAVARES

Terhulpsesteenweg 166, 1170 Watermaal-BosvoordeNACE 4531001

since 20122.210.222.501

1 parcel

Brussels 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21652E0030/00D002 ProtectedMonumentGlaverbelSource ↗	Brussels	3.2 ha	1 · 7,322 m²	21.0 m · 6 fl.

Linked by address, not proof of ownership

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.

1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).

Statutory auditor

6 auditors

KPMG Réviseurs d'EntreprisesCurrent

Auditor · represented by Mike Boonen

03-06-2026 → present

Show 5 earlier auditors

CORPOCONSULT Statutory auditor · represented by Piet Hemschoote	- → 04-09-2015
Ernst & Young Bedrijfsrevisoren BCBVA Statutory auditor succeeded by Ernst & Young Bedrijfsrevisoren CV in 2020	07-06-2017 → 03-06-2020
Ernst & Young Bedrijfsrevisoren BCVBA Statutory auditor · represented by Piet Hemschoote succeeded by Ernst & Young Bedrijfsrevisoren BCBVA in 2017	01-03-2014 → 07-06-2017
Ernst & Young Bedrijfsrevisoren CV Auditor succeeded by KPMG Réviseurs d'Entreprises in 2026	03-06-2020 → 03-06-2026
Ernst et Young Reviseurs d'Entreprises Statutory auditor · represented by VAN GASSE Wim	- → 16-07-2024

Structure & network

Connections & network

2 connected companies

Network connections

ZF Digital Solutions International

Shared corporate director

→

POOL STICHTING ADMINISTRATIEKANTOOR

Shared address

→

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded12-04-2012

Fiscal year end31-12

Sources

Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers

Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.