ACTIVE

Time Star

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Financial year 2025 · closed on 31/12/2025

Net result

-167,7 k €

-138.6% YoY

Revenue

9,8 M €

-10.5% YoY

Equity

2,6 M €

-6.1% YoY

What does Time Star do?

Time Star is a Private limited company incorporated in 2006. Its main activity is: Wholesale of other intermediate products. Its registered office is in Antwerpen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0884.871.909

Incorporation

09/11/2006

Legal form

Private limited company

Registered office

Hoveniersstraat 50 box 16
2018 Antwerpen · FlandreSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

46761Wholesale of other intermediate products· main 46861Wholesale trade, except of motor vehicles and motorcycles 51561Air transport

Signals

Solid equityLow riskGood liquidityHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Revenue	9,8 M €	-10.5%	11 M €	-35.9%	17,1 M €		–		–		–		–		6,8 M €	-14.0%	7,9 M €	-25.8%	10,7 M €	+17.2%	9,1 M €	+20.9%	7,5 M €		–		–		–		–		–		–		–
EBITDA	-209,6 k €	-156%	373,9 k €	+14.3%	327,2 k €	-66.1%	965,3 k €	+45.9%	661,6 k €	+551%	-146,5 k €	-366%	55,2 k €	-82.1%	308,7 k €	+2452%	12,1 k €	-91.5%	142,6 k €	-56.2%	325,5 k €	-12.7%	372,7 k €	+1186%	29 k €	-12.6%	33,2 k €	+213%	-29,3 k €	-132%	92 k €	+302%	22,9 k €	-92.2%	293,5 k €	+595%	-59,3 k €
Operating result	-211,3 k €	-157%	372,5 k €	-5.5%	394,3 k €	-58.9%	959,7 k €	+60.9%	596,4 k €	+506%	-146,9 k €	-304%	72,1 k €	-76.5%	307,2 k €	+6188%	-5 k €	-104%	141,9 k €	-56.3%	324,6 k €	-12.7%	371,8 k €	+1217%	28,2 k €	-2.9%	29,1 k €	+186%	-34 k €	-139%	87,4 k €	+373%	18,5 k €	-93.6%	289,2 k €	+580%	-60,3 k €
Net result	-167,7 k €	-139%	434 k €	+12.6%	385,5 k €	-56.3%	881,5 k €	+55.4%	567,1 k €	+936%	54,7 k €	-35.2%	84,4 k €	+6.4%	79,3 k €	-7.5%	85,8 k €	+57.1%	54,6 k €	+91.7%	28,5 k €	-58.0%	67,9 k €	-34.9%	104,3 k €	+135%	-299,8 k €	-712%	49 k €	+22.4%	40 k €	+75.7%	22,8 k €	+53.1%	14,9 k €	-37.1%	23,6 k €
Balance sheet
Equity	2,6 M €	-6.1%	2,7 M €	+18.8%	2,3 M €	+20.1%	1,9 M €	+84.8%	1 M €	+120%	472 k €	+13.1%	417,3 k €	+25.4%	332,8 k €	+31.3%	253,5 k €	+51.1%	167,7 k €	+48.3%	113,1 k €	+33.7%	84,6 k €	+406%	16,7 k €	+119%	-87,6 k €	-141%	212,2 k €	+30.0%	163,3 k €	+32.4%	123,3 k €	+22.6%	100,5 k €	+17.4%	85,6 k €
Total assets	5,3 M €	-37.7%	8,5 M €	-5.9%	9 M €	+7.4%	8,4 M €	+12.6%	7,5 M €	+11.2%	6,7 M €	-20.0%	8,4 M €	+0.6%	8,3 M €	+24.3%	6,7 M €	-4.3%	7 M €	-1.0%	7,1 M €	+7.4%	6,6 M €	+24.6%	5,3 M €	+43.3%	3,7 M €	-6.5%	3,9 M €	-6.4%	4,2 M €	+5.9%	4 M €	+29.9%	3,1 M €	-21.3%	3,9 M €
Cash	409,4 k €	-87.2%	3,2 M €	+4.4%	3,1 M €	-28.9%	4,3 M €	+144%	1,8 M €	-5.5%	1,9 M €	+278%	495,3 k €	-81.8%	2,7 M €	+42.4%	1,9 M €	+50.8%	1,3 M €	+57.0%	806,8 k €	+19.7%	673,8 k €	+42.6%	472,4 k €	+24.9%	378,3 k €	+51.4%	249,9 k €	-45.0%	454,5 k €	+107%	219,2 k €	+62.4%	134,9 k €	+31.2%	102,9 k €
Debts	2,7 M €	-52.8%	5,8 M €	-14.3%	6,7 M €	+3.6%	6,5 M €	+1.0%	6,4 M €	+3.0%	6,2 M €	-21.7%	8 M €	-0.5%	8 M €	+24.0%	6,5 M €	-5.6%	6,8 M €	-1.8%	7 M €	+7.1%	6,5 M €	+23.4%	5,3 M €	+39.6%	3,8 M €	+1.2%	3,7 M €	-7.9%	4,1 M €	+5.0%	3,9 M €	+30.2%	3 M €	-22.1%	3,8 M €

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 6 ended

Active mandates

Vatsal SHAH

Director · since 24 avril 2019

Active

Paras SHAH

Director

Active

Ended mandates

Vatsal SHAH

Manager · since 24 avril 2019

Ended

Harshil MANIYAR

Manager · since 14 juillet 2010

Ended

Harshil MANIYAR

Manager · until 20 février 2013

Ended

Harshil MANIYAR

Manager

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	29/08/2026	31/08/2025	31/08/2024	01/09/2023	31/08/2022	31/08/2021
General meeting	01/06/2026	02/06/2025	03/06/2024	05/06/2023	07/06/2022	07/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	01/06/2026	29/08/2026	Dutch	PDF
Full model	31/12/2024	02/06/2025	31/08/2025	Dutch	PDF
Full model	31/12/2023	03/06/2024	31/08/2024	Dutch	PDF
Abridged model	31/12/2022	05/06/2023	01/09/2023	Dutch	PDF
Abridged model	31/12/2021	07/06/2022	31/08/2022	Dutch	PDF
Abridged model	31/12/2020	07/06/2021	31/08/2021	Dutch	PDF
Abridged model	31/12/2019	02/06/2020	27/10/2020	Dutch	PDF
Full model	31/12/2018	03/06/2019	28/08/2019	Dutch	PDF
Full model	31/12/2017	04/06/2018	29/08/2018	Dutch	PDF
Full model	31/12/2016	06/06/2017	29/08/2017	Dutch	PDF
Full model	31/12/2015	06/06/2016	31/07/2016	Dutch	PDF
Full model	31/12/2014	01/06/2015	27/08/2015	Dutch	PDF
Abridged model	31/12/2013	02/06/2014	26/08/2014	Dutch	PDF
Abridged model	31/12/2012	03/06/2013	17/07/2013	Dutch	PDF
Abridged model	31/12/2011	04/06/2012	31/07/2012	Dutch	PDF
Abridged model	31/12/2010	06/06/2011	28/07/2011	Dutch	PDF
Abridged model	31/12/2009	07/06/2010	29/07/2010	Dutch	PDF
Abridged model	31/12/2008	02/06/2009	28/08/2009	Dutch	PDF
Abridged model	31/12/2007	02/06/2008	30/07/2008	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 6 ended

Active mandates

Vatsal SHAH

Director · since 24 avril 2019

Active

Paras SHAH

Director

Active

Ended mandates

Vatsal SHAH

Manager · since 24 avril 2019

Ended

Harshil MANIYAR

Manager · since 14 juillet 2010

Ended

Harshil MANIYAR

Manager · until 20 février 2013

Ended

Harshil MANIYAR

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office16/10/2025
MAATSCHAPPELIJKE ZETEL
PDF
Mandates25/09/2023
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/05/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/11/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/03/2013
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/09/2012
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/01/2010
ONTSLAGEN - BENOEMINGEN
PDF
Registered office06/02/2008
Adreswijziging maatschappelijke zetel d
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025-167,7 k €↓
2024
Annual accounts 2024434 k €↑
2023
Annual accounts 2023385,5 k €↓
2022
Annual accounts 2022881,5 k €↑
2021
Annual accounts 2021567,1 k €↑
2020
Annual accounts 202054,7 k €↓
2019
Annual accounts 201984,4 k €↑
2018
Annual accounts 201879,3 k €↓
2017
Annual accounts 201785,8 k €↑
2016
Annual accounts 201654,6 k €↑
2015
Annual accounts 201528,5 k €↓
2014
Annual accounts 201467,9 k €↓
2013
Annual accounts 2013104,3 k €↑
2012
Annual accounts 2012-299,8 k €↓
2011
Annual accounts 201149 k €↑
2010
Annual accounts 201040 k €↑
2009
Annual accounts 200922,8 k €↑
2008
Annual accounts 200814,9 k €↓
2007
Annual accounts 200723,6 k €
09/11/2006
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Time Star

Overview

What does Time Star do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline