ACTIVE

TIVACO

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Financial year 2025 · closed on 31/12/2025

Net result

9,7 k €

+1.3% YoY

Gross margin

36,7 k €

-18.6% YoY

Equity

48,7 k €

-16.3% YoY

What does TIVACO do?

TIVACO is a Private company with limited liability incorporated in 2007. Its main activity is: Accounting, bookkeeping and auditing activities; tax consultancy. Its registered office is in Ninove.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0888.247.212

Incorporation

22/03/2007

Legal form

Private company with limited liability

Registered office

Kerkveld(Den) 6
9400 Ninove · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Activities (NACE)

69202Accounting, bookkeeping and auditing activities; tax consultancy· main 69209Accounting, bookkeeping and auditing activities; tax consultancy

Signals

ProfitableSolid equityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	36,7 k €	-18.6%	45,1 k €	+139%	18,8 k €	-10.7%	21,1 k €	+9.6%	19,2 k €	-41.5%	32,9 k €	+17.4%	28 k €	+28.2%	21,8 k €	+15.8%	18,9 k €	+825%	-2,6 k €	+65.5%	-7,5 k €	+33.7%	-11,4 k €	-376%	4,1 k €	+136%	-11,6 k €	-121%	55,8 k €		–		450 €	+150%	-899 €
EBITDA	35,4 k €	-14.7%	41,5 k €	+136%	17,6 k €	-11.6%	19,9 k €	+10.6%	18 k €	-43.6%	31,9 k €	+17.8%	27,1 k €	+34.0%	20,2 k €	+21.1%	16,7 k €	+741%	-2,6 k €	+70.8%	-8,9 k €	+34.4%	-13,6 k €	-1460%	997,5 €	+107%	-13,7 k €	-126%	53 k €		–		103 €	+106%	-1,6 k €
Operating result	20,9 k €	-11.5%	23,6 k €	+70.8%	13,8 k €	-6.5%	14,8 k €	+1.7%	14,5 k €	-33.1%	21,7 k €	+51.1%	14,3 k €	+92.1%	7,5 k €	-40.9%	12,6 k €	+586%	-2,6 k €	+72.6%	-9,5 k €	+32.9%	-14,2 k €	-3575%	407,3 €	+103%	-14,3 k €	-127%	52 k €		–		-182 €	+94.4%	-3,2 k €
Net result	9,7 k €	+1.3%	9,6 k €	+1.4%	9,5 k €	-2.9%	9,8 k €	+3.2%	9,5 k €	-41.0%	16 k €	+64.8%	9,7 k €	+52.1%	6,4 k €	-46.9%	12,1 k €	+226%	-9,6 k €	-123%	-4,3 k €	+80.5%	-22,1 k €	-1384%	-1,5 k €	+90.9%	-16,4 k €	-142%	39,3 k €		–		252 €	+108%	-3 k €
Balance sheet
Equity	48,7 k €	-16.3%	58,2 k €	+37.3%	42,4 k €	+28.8%	32,9 k €	-30.1%	47,1 k €	+25.2%	37,6 k €	+74.4%	21,6 k €	+60.6%	13,4 k €	+91.1%	7 k €	+240%	-5 k €	-238%	3,7 k €	-54.1%	8 k €	-73.5%	30,1 k €	-4.7%	31,6 k €	-34.2%	48 k €	+450%	8,7 k €	+0.0%	8,7 k €	+3.0%	8,5 k €
Total assets	154,7 k €	-11.7%	175,2 k €	+72.8%	101,4 k €	+2.9%	98,5 k €	+67.0%	59 k €	+2.5%	57,6 k €	+8.7%	53 k €	-17.0%	63,8 k €	-7.5%	69 k €		–		4,2 k €	-83.7%	26 k €	-32.4%	38,5 k €	+13.3%	34 k €	-43.7%	60,4 k €	+551%	9,3 k €	+0.0%	9,3 k €	-2.3%	9,5 k €
Cash	11 k €	-31.0%	15,9 k €	+549%	2,4 k €	-62.0%	6,4 k €	-75.5%	26,3 k €	-35.1%	40,5 k €	+1785%	2,1 k €	-1.1%	2,2 k €	-15.6%	2,6 k €		–		1,8 €	-100.0%	8,8 k €	-51.2%	17,9 k €	+425%	3,4 k €	-88.5%	29,8 k €	+3228%	895 €	0.0%	895 €	-72.8%	3,3 k €
Debts	106 k €	-9.4%	117 k €	+98.2%	59 k €	-10.1%	65,7 k €	+451%	11,9 k €	-40.3%	20 k €	-36.5%	31,4 k €	-37.6%	50,4 k €	-18.7%	62 k €	+1131%	5 k €	+767%	580,9 €	-96.8%	18,1 k €	+114%	8,5 k €	+248%	2,4 k €	-78.8%	11,5 k €	+1974%	554,2 €	+0.0%	554 €	-46.1%	1 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 6 ended

Active mandates

Pieter Tielemans

Director · since 11 avril 2017

Active

Ended mandates

Pieter BRION

Manager · since 14 novembre 2011

Ended

Diane Vandenberghe

Manager

Ended

Guido Amedé BRION

Manager

Ended

Patrick Godelie

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	19/06/2026	01/07/2025	21/08/2024	30/08/2023	30/09/2022	28/07/2021
General meeting	18/06/2026	19/06/2025	20/06/2024	15/06/2023	16/06/2022	17/06/2021
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

18 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	18/06/2026	19/06/2026	Dutch	PDF
Micro model	31/12/2024	19/06/2025	01/07/2025	Dutch	PDF
Micro model	31/12/2023	20/06/2024	21/08/2024	Dutch	PDF
Micro model	31/12/2022	15/06/2023	30/08/2023	Dutch	PDF
Micro model	31/12/2021	16/06/2022	30/09/2022	Dutch	PDF
Micro model	31/12/2020	17/06/2021	28/07/2021	Dutch	PDF
Micro model	31/12/2019	18/06/2020	10/07/2020	Dutch	PDF
Micro model	31/12/2018	20/06/2019	01/07/2019	Dutch	PDF
Micro model	31/12/2017	21/06/2018	26/06/2018	Dutch	PDF
Micro model	31/12/2016	15/06/2017	19/06/2017	Dutch	PDF
Abridged model	31/12/2015	16/06/2016	22/07/2016	Dutch	PDF
Abridged model	31/12/2014	18/06/2015	22/09/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	23/07/2014	Dutch	PDF
Abridged model	31/12/2012	20/06/2013	10/07/2013	Dutch	PDF
Abridged model	31/12/2011	21/06/2012	10/07/2012	Dutch	PDF
Abridged model	31/12/2010	30/06/2011	26/07/2011	Dutch	PDF
Abridged model	31/12/2009	19/06/2010	07/10/2010	French	PDF
Abridged model	31/12/2008	18/06/2009	04/09/2009	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

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 · 1 active · 6 ended

Active mandates

Pieter Tielemans

Director · since 11 avril 2017

Active

Ended mandates

Pieter BRION

Manager · since 14 novembre 2011

Ended

Diane Vandenberghe

Manager

Ended

Guido Amedé BRION

Manager

Ended

Patrick Godelie

Manager

Ended

Shareholders

Ownership and network

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Competition

Similar companies

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

See the Business plan

2025
Annual accounts 20259,7 k €↑
2024
Annual accounts 20249,6 k €↑
2023
Annual accounts 20239,5 k €↓
2022
Annual accounts 20229,8 k €↑
2021
Annual accounts 20219,5 k €↓
2020
Annual accounts 202016 k €↑
2019
Annual accounts 20199,7 k €↑
2018
Annual accounts 20186,4 k €↓
2017
Annual accounts 201712,1 k €↑
2016
Annual accounts 2016-9,6 k €↓
2016
Name changeTIVACO
2015
Annual accounts 2015-4,3 k €↑
2014
Annual accounts 2014-22,1 k €↓
2013
Annual accounts 2013-1,5 k €↑
2012
Annual accounts 2012-16,4 k €↓
2011
Annual accounts 201139,3 k €↑
2010
Annual accounts 2010
2010
Name changeSafeday Consulting
2009
Annual accounts 2009252 €↑
2008
Annual accounts 2008-3 k €
2008
Name changeBEauT
22/03/2007
IncorporationPrivate company with limited liability

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

TIVACO

Overview

What does TIVACO do?

Trend over 18 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Similar companies

Similar companies

Timeline