Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 25 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
19 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
TOP-MIX RECYCLING from Oostende, company number BE0720650018, closed financial year 2025 with a result of € -3.2 million after tax. For that financial year TOP-MIX RECYCLING recorded a gross margin of € -601,411 and equity of € -27.6 million. Compared with financial year 2024, the result moved from € -3 million to € -3.2 million. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on September 7, 2026.
€ -27.6 million
▼ € 3.2 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -3.2 million
▼ 7 % more loss than in 2024
Profit after tax over the fiscal year.
€ 491,046
▲ 38% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -27.6 million.
People and assets in 2025
3
▲ 0.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 288,470
▲ 41% vs 2024
€ 96,200 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 1.6 million
▼ 30% vs 2024
Of which on lease € 1.6 million.
Debts at end 2025
€ 9.3 million
▼ 11% vs 2024
€ 1.1 million is repaid this year. At this pace the long-term loan is gone in ≈ 8 years.
€ 2.7 million
▲ 37% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 47,354
▲ 48% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -8,792,347 | € -2,842,530 | € -392,414 | € -601,411 | ▼ € 208,997 |
| Profit after taxes | € -11,339,018 | € -6,122,946 | € -2,990,575 | € -3,211,069 | ▼ € 220,494 |
| Equity | € -15,271,306 | € -21,394,252 | € -24,384,827 | € -27,595,897 | ▼ € 3.2 million |
| Total debts | € 33,617,120 | € 37,120,413 | € 38,828,867 | € 43,250,797 | ▲ 11% |
| Cash | € 660,399 | € 24,969 | € 356,147 | € 491,046 | ▲ 38% |
| Land & buildings | € 8,726,522 | € 8,326,544 | € 7,967,181 | € 7,651,828 | ▼ 4% |
| Retained profit | € -15,277,506 | € -21,400,452 | € -24,391,027 | € -27,602,097 | ▼ € 3.2 million |
| Bank debt | € 11,264,800 | € 11,015,068 | € 10,395,654 | € 9,289,559 | ▼ 11% |
| Balance sheet total | € 18,345,814 | € 15,726,161 | € 14,444,039 | € 15,654,900 | ▲ 8% |
| Employees (FTE) | 3.1 | 3 | 2.8 | 3 | ▲ 0.2 |
Key figures of TOP-MIX RECYCLING, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to TOP-MIX RECYCLING?
What happened at TOP-MIX RECYCLING in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 3.2 million. filed late Source: NBB ↗
- Verhelst Group BV became a director. NBB
- New establishment in Oostende. KBO
- Start of the company according to the CBE. KBO
In short
From € 11.3 million loss in 2022 to € 3.2 million loss in 2025.
Paid € 1,313 in corporate taxes since 2022.
Management
The stake of Top-Mix comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
TOP-MIX RECYCLINGBehind TOP-MIX RECYCLING is Verhelst Group BV. The shares are held by Top-Mix (100%).
Directors
According to the 2025 annual accounts
Director · represented by Johan Verhelst
Also active at: VERHELST AANNEMINGEN, Steenbakkerij van Snaaskerke, Top-Mix, Transport Janssens, Verhelst Immo, EUROPEAN PORT SERVICES, OPC EUROPE, DE WITTE-VANDECAVEYE +11 more
since 2024
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Oudenburgsesteenweg 106
8400 Oostende
Esperantolaan 16 box B
8400 Oostende
Active since 12 February 2019
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 19 companies are registered at this address.
All companies at this address →VERHELST AANNEMINGEN same network
€ 87.7 million revenue · 2025
Top-Mix same network
€ 34.3 million revenue · 2024
Transport Janssens same network
€ 3.8 million gross margin · 2025
Verhelst Immo same network
€ 1.3 million revenue · 2025
BALEGRO
€ 2.1 million gross margin · 2025
+14 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0720.650.018
- VAT number
- BE 0720.650.018
- Registered office
- Oudenburgsesteenweg 106, 8400 Oostende
- Names & denominations
- TOP-MIX RECYCLING
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 12 February 2019
- Peppol
- Active · Active since 25 Jun 2025
- Activities · NACE
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