Checked.be
Active
BE 0795.338.731Private limited company
Tovmasyan
Rietlei 87 ·2570 Duffel, Belgium· 3 yrs active
Sector: General construction of residential buildings
(41001)
Conclusion
The computed 12-month bankruptcy probability of Tovmasyan is 2.2% (moderate). The 2025 annual accounts show equity of €45k and a net result of €104. Equity is growing by ~32.4% per year across the filed fiscal years. Its solvency ranks better than 56% of 7107 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 3 annual accounts.
Key figures
| Equity | €45k |
| Net result | €104 |
| Better than sector | 56% |
| Active | 3 yrs |
Financial profile
64
/ 100
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
Health
79
Profitability
1
Solvency
93
Growth
52
Stability
94
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
More than 3 years active
Founded in 2022, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
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
79
/ 100
Excellent
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
€4k
estimate, not credit advice
Score history
93
2023
94
2024
79
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.94 (≥ 1.5)
+10
Quick ratio
Quick ratio 1.70 (≥ 1.0)
+5
Leverage
Debt/equity 1.01 (< 2.0)
+3
Profitability
ROE 0%
+3
Interest coverage
Interest coverage 6.0× (≥ 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 overview
Annual accounts filed on 31-05-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~32.4%/year over 3 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 41, Construction of residential and non-residential buildings · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 49.6% | 43.8% | |
| Net result | €104 | €8k | |
| Equity | €45k | €48k | |
| Gross operating margin | €5k | €32k | |
| Staff costs | €420 | €34k |
€2k
-95.9%
23-25
€104
-99.6%
23-25
€874
-97.0%
23-25
€91k
-3.9%
23-25
€45k
+0.2%
23-25
€43k
-0.6%
23-25
€420
-75.7%
23-25
€395
-94.6%
23-25
€46k
-7.6%
23-25
€46k
-7.6%
23-25
1.94
+3.6%
23-25
1.70
-9.3%
23-25
49.6%
+4.3%
23-25
1.01
-7.8%
23-25
0.2%
-99.6%
23-25
0.1%
-99.6%
23-25
5.96
-95.8%
23-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 |
|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema |
| Revenue | - | - | - |
| EBITDA | €2k | €37k | €17k |
| Net profit | €104 | €29k | €14k |
| Cash flow | €874 | €30k | €14k |
| Staff costs | €420 | €2k | - |
| Income taxes | €395 | €7k | €3k |
| Dividends | - | - | - |
| Total assets | €91k | €94k | €30k |
| Equity | €45k | €45k | €16k |
| Debt | €46k | €49k | €14k |
| of which ≤ 1y | €46k | €49k | €14k |
| of which > 1y | - | - | - |
| Working capital | €43k | €43k | €16k |
| Employees (FTE) | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Current ratio | 1.94 | 1.88 | 2.14 |
| Quick ratio | 1.70 | 1.88 | 2.14 |
| Working capital ratio | 47.6% | 46.0% | 52.9% |
| Solvency | 49.6% | 47.6% | 53.7% |
| Debt / equity | 1.01 | 1.10 | 0.86 |
| Long-term debt ratio | - | - | - |
| Interest coverage | 5.96 | 140.81 | 451.02 |
| Gross margin | - | - | - |
| Net margin | - | - | - |
| ROA | 0.1% | 30.7% | 46.9% |
| ROE | 0.2% | 64.6% | 87.4% |
| EBITDA margin | - | - | - |
| Days sales outstanding | - | - | - |
| Days payable outstanding | - | - | - |
| Inventory turnover | - | - | - |
| Days inventory (DSI) | - | - | - |
Balance-sheet composition 2025
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet, Assets | ||||
| TOTAL ASSETS | 20/58 | €91k | €94k | €30k |
| Fixed assets | 21/28 | €2k | €2k | €235 |
| Tangible fixed assets | 22/27 | €1k | €1k | €235 |
| Financial fixed assets | 28 | €505 | €505 | - |
| Current assets | 29/58 | €89k | €93k | €29k |
| Stocks & contracts in progress | 3 | €11k | - | - |
| Amounts receivable within one year | 40/41 | €75k | €35k | €27k |
| Cash & bank | 54/58 | €2k | €58k | €2k |
| Balance sheet, Equity & liabilities | ||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €91k | €94k | €30k |
| Equity | 10/15 | €45k | €45k | €16k |
| Contributions / capital | 10/11 | €2k | €2k | €2k |
| Accumulated profits (losses) | 14 | €43k | €43k | €14k |
| Amounts payable | 17/49 | €46k | €49k | €14k |
| Amounts payable within one year | 42/48 | €46k | €49k | €14k |
| Trade debts payable within one year | 44 | €46k | €41k | €10k |
| Income statement | ||||
| Gross operating margin | 9900 | €5k | €48k | €17k |
| Operating result | 9901 | €754 | €37k | €17k |
| Financial income | 75 | €0 | €0 | €1 |
| Financial charges | 65 | €256 | €263 | €39 |
| Result before taxes | 9903 | €499 | €36k | €17k |
| Income taxes | 67/77 | €395 | €7k | €3k |
| Net result for the period | 9904 | €104 | €29k | €14k |
| Result to be appropriated | 9905 | €104 | €29k | €14k |
Legal Structure
| NACE primary | General construction of residential buildings(41001) |
| Legal form | Private limited company(610) |
| Incorporation | 23-12-2022 |
| Status | Active |
| Postal code | 2570 |
Establishment units
Tovmasyan
since 20222.339.517.759
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12009A0517/00N003 | Flanders | 427 m² | 1 · 86 m² | 7.2 m · 2 fl. |
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
Next filing, fiscal year 2026, expected by
2026
31-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
30-09
Financial
Weakest financial yearnet €104 ▼99.6%
Net result drops to €104, the lowest in the series.
30-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
30-09
Financial
Highest result since 2023net €29k ▲109%
Operating result €37k, net result €29k, both a record.
30-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
General construction of residential buildings41001Plastering work43310
Names & trade names
| Legal nameNL | Tovmasyan |
Similar companies
ALZ BOUWGROEP
BE 0727.761.306 · Asse
PERFECT +
BE 1001.501.343 · Erpe-Mere
SRN CONSTRUCT
BE 0792.161.188 · Sint-Pieters-Leeuw
HEPICUR
BE 1015.053.728 · Sint-Lambrechts-Woluwe
Belgmann
BE 0728.861.562 · Brussel