TILKIN POWDER COATINGS
ActiveSummary
The annual accounts of TILKIN POWDER COATINGS for fiscal year 2025 show a net loss of 69% of the equity at the start of that year. The 2025 annual accounts show equity of €271k and a net result of €-593k. Equity is growing by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 10% of 130 sector peers (fiscal year 2025). The company has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
50
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability21▲+2
Solvency27▼-3
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13k at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.07 against 1.12 in 2024; short-term debt: 10.9% and cash: 0.3% of total assets), and 98.4% of the assets are financed with debt.
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
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 31
Relative position
BE, all sectors
reference
Sector 31
higher
← fewer bankruptcies
more bankruptcies →
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
1.6%
Return on assets
-3.6%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-593k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 130 sector peers (2025).
NBB · sector comparisonPosition among 130 sector peers
Solvency
better than 10%
← weakest
strongest →
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 09-07-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
14 d early
2023
22 d late
2022
10 d late
2021
11 d early
2020
25 d early
2019
36 d early
← before the deadline
after the deadline →
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-593k▲ 2.6%
2024 · €-608k
2018: €47k
2019: €237k
2020: €552k
2021: €234k
2022: €221k
2023: €370k
2024: €-608k
2018 → 2025
Working capital
€129k▼ 35.5%
2024 · €200k
2018: €393k
2019: €233k
2020: €565k
2021: €556k
2022: €605k
2023: €732k
2024: €200k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.09M-€1.10M▲ 1.0%€1.47M▲ 33.5%€864k▼ 41.3%€271k▼ 68.6%
Operating result€291k-€254k▼ 12.7%€545k▲ 114%€-166k€150k
Net result€234k-€221k▼ 5.5%€370k▲ 67.1%€-608k€-593k▲ 2.6%
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €150k after a loss of €166k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €16.56M
Fixed assets
€14.63M ▼ 1.8%
Current assets
€1.93M ▲ 6.0%
Equity and liabilities €16.56M
Equity
€271k ▼ 68.6%
Debt
€16.29M ▲ 2.8%
Debt's share of the balance-sheet total rises from 94.8% to 98.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€586k▲
2024 · €235k
Cash flow
€-157k▲
2024 · €-207k
Current ratio
1.07▼
2024 · 1.12
Quick ratio
0.75▼
2024 · 0.76
Debt to equity
60.11▲
2024 · 18.35
ROE
-218.7%▼
2024 · -70.4%
ROA
-3.6%▲
2024 · -3.6%
Interest coverage
0.77▲
2024 · 0.56
Debt ≤ 1 year
€1.80M▲
2024 · €1.62M
Debt > 1 year
€14.00M▲
2024 · €13.87M
Income taxes
€-19k▼
2024 · €20k
Staff costs
€1.20M▲
2024 · €1.07M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 63 lines
Balance sheet
Code20242025
Assets
Total assets20/58€16.72M€16.56M▼
Fixed assets21/28€14.89M€14.63M▼
Intangible fixed assets21-€61k
Tangible fixed assets22/27€1.89M€1.57M▼
Land and buildings22€58k€51k▼
Plant, machinery and equipment23€1.13M€881k▼
Furniture and vehicles24€221k€212k▼
Leasing and similar rights25€109k€93k▼
Other tangible fixed assets26€357k€331k▼
Assets under construction and advance payments27€14k€0▼
Financial fixed assets28€13.00M€13.00M=
Current assets29/58€1.82M€1.93M▲
Amounts receivable after more than one year29€298k€265k▼
Other amounts receivable291€298k€265k▼
Stocks and contracts in progress3€596k€579k▼
Stocks30/36€596k€579k▼
Amounts receivable within one year40/41€758k€961k▲
Trade receivables40€758k€941k▲
Other amounts receivable41€125€20k▲
Current investments50/53€83k-
Cash at bank and in hand54/58-€50k
Deferred charges and accrued income490/1€89k€79k▼
Equity and liabilities
Total equity and liabilities10/49€16.72M€16.56M▼
Equity10/15€864k€271k▼
Contributions10/11€63k€63k=
Capital10€63k€63k=
Issued capital100€63k€63k=
Reserves13€1.41M€1.41M=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€1.40M€1.40M=
Profit (loss) carried forward14€-608k€-1.20M▼
Amounts payable17/49€15.85M€16.29M▲
Amounts payable after more than one year17€13.87M€14.00M▲
Financial debts170/4€13.87M€14.00M▲
Amounts payable within one year42/48€1.62M€1.80M▲
Current portion of amounts payable after more than one year42€13k€14k▲
Trade debts44€626k€377k▼
Suppliers440/4€626k€377k▼
Taxes, remuneration and social security45€232k€193k▼
Taxes450/3€162k€37k▼
Remuneration and social security454/9€70k€155k▲
Other amounts payable47/48€753k€1.22M▲
Accrued charges and deferred income492/3€357k€488k▲
Income statement
Code20242025
Non-recurring operating income76A€9k-
Remuneration, social security and pensions62€1.07M€1.20M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€402k€436k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€25k
Other operating charges640/8€70k€81k▲
Non-recurring operating charges66A-€10k
Gross operating margin9900€1.37M€1.91M▲
Operating profit (loss)9901€-166k€150k▲
Financial income75/76B€331€393▲
Recurring financial income75€331€393▲
Financial charges65/66B€423k€762k▲
Recurring financial charges65€423k€762k▲
Profit (loss) for the period before taxes9903€-588k€-611k▼
Income taxes67/77€20k€-19k▼
Profit (loss) for the period9904€-608k€-593k▲
Profit (loss) for the period to be appropriated9905€-608k€-593k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-608k€-1.20M▼
Profit (loss) brought forward from the previous period14P-€-608k
Social balance
Average headcount (FTE)908718.019.2▲
The notes to these accounts (20 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
23-03
State Gazette act
Resignation: DC ADVISORY BV (director)Appointment: WP CONSULTING BV (director) · Permanent representatives: Dominique Charlier, Wouter Pauwels and Jo Tilkin · Director discharge8 facts ▸
State Gazette act
Resignation: DC ADVISORY BV (director)
Appointment: WP CONSULTING BV (director) · Permanent representatives: Dominique Charlier, Wouter Pauwels and Jo Tilkin · Director discharge8 facts ▸
- General meeting, 26/02/2026
- Director resignation, DC ADVISORY BV (director)
- Director discharge, DC ADVISORY BV
- Director appointment, WP CONSULTING BV (director)
- Mandate compensation, WP CONSULTING BV
- Permanent representative, Dominique Charlier
- Permanent representative, Wouter Pauwels
- Permanent representative, Jo Tilkin
2025
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €-608k ▼265%
Net result drops to €-608k, the lowest in the series; recovery starts the following year.
22-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 22 days late
2023
10-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 10 days late
2022
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
06-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Highest result since 2018net €552k ▲133%
Operating result €670k, net result €552k, both a record.
31-12
Financial
Equity above €1MEq €1.01M ▲37%
3 profitable years in a row build equity to €1.01M.
25-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
09-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 9 days late
2017
11-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 11 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 director, no change since 2026
WP CONSULTING
CurrentDirector · since 26-02-2026 · Private limited company · perm. rep.: Wouter Pauwels
26-02-2026
WP CONSULTING: Appointed as Director
26-02-2026
DC Advisory: Resigned as Director
Location & real-estate footprint
Registered office, Tongeren-Borgloon · 1 establishment unit since 1998
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.
Vrijheidweg 23700 Tongeren-BorgloonGround area
4.1 ha
Building footprint
1.1 ha
Volume, LiDAR
82,631 m³
2 parcels, Flanders · tallest building 35.5 m. Linked by address, not a title deed.
1 establishment unit
Vrijheidweg 2017, 3700 Tongeren
since 19982.084.822.978
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73046A0514/00C000 | Flanders | 3.2 ha | 1 · 5,059 m² | 35.5 m |
| 73348B0472/00F000 | Flanders | 9,435 m² | 1 · 6,317 m² | 8.8 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
10 connected companiesLinked via shared directors
Shared corporate director
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Shared corporate director
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Shared corporate director
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Shared corporate director
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Show 6 more companies with a shared director
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Shared corporate director
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Shared corporate director
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Shared corporate director
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Shared corporate director
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Shared corporate director
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Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 7,085 EUR awarded · 6,890 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 5,178 EUR | 5,088 EUR |
| 2024 | 1 | 785 EUR | 680 EUR |
| 2023 | 1 | 798 EUR | 798 EUR |
| 2022 | 1 | 324 EUR | 324 EUR |
Schemes
Subsidies voor internationaal ondernemen
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 446 companies in sector 31001 we hold annual accounts for 208. 150 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded31-12-1997
Fiscal year end31-12
Activities, NACEBEL 2025
25510Coating of metals
31001Manufacture of furniture
Sources
Crossroads Bank for EnterprisesNational Bank · 28 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.