Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 4.3 to 1.8.
-
Busy address KBO
29 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
TEX DEVELOPMENT from Brussel, company number BE0806294682, closed financial year 2025 with a result of € 31,775 after tax. For that financial year TEX DEVELOPMENT recorded revenue of € 12.3 million and equity of € 2.3 million. Compared with financial year 2024, the result moved from € 309,050 to € 31,775. The company is profitable. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 16, 2026.
€ 2.3 million
▲ 1% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 31,775
▼ 90% vs 2024
Profit after tax over the fiscal year.
€ 740,135
▲ 38% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 2.3 million.
People and assets in 2025
1.8
▼ 0.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 184,724
▲ 19% vs 2024
€ 102,600 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.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 2.6 million
▼ 16% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 80 days on average.
€ 205,806
▲ 43% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 24,822,813 | € 16,049,239 | € 17,663,830 | € 12,258,119 | ▼ 31% |
| Profit after taxes | € 36,495 | € 183,475 | € 309,050 | € 31,775 | ▼ 90% |
| Equity | € 1,802,262 | € 1,983,197 | € 2,288,253 | € 2,320,028 | ▲ 1% |
| Total debts | € 5,466,465 | € 4,572,142 | € 3,264,819 | € 2,836,998 | ▼ 13% |
| Cash | € 682,236 | € 234,143 | € 535,122 | € 740,135 | ▲ 38% |
| Retained profit | € 1,739,262 | € 1,920,197 | € 2,225,253 | € 2,257,028 | ▲ 1% |
| Balance sheet total | € 7,268,727 | € 6,555,339 | € 5,553,073 | € 5,157,026 | ▼ 7% |
| Employees (FTE) | 4 | 4.3 | 1.9 | 1.8 | ▼ 0.1 |
Key figures of TEX DEVELOPMENT, 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 TEX DEVELOPMENT?
What happened at TEX DEVELOPMENT in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Erol Kandiyoti stepped down as director. NBB
- CLAUDE KANDIYOTI stepped down as director. NBB
- Igal KANDIYOTI stepped down as director. NBB
- K FINANCE COORDINATION & SERVICES SA stepped down as director. NBB
- Metin KANDIYOTI stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 31,775 (▼ 90% vs 2024). Source: NBB ↗
- Erol Kandiyoti became a director. NBB
- CLAUDE KANDIYOTI became a director. NBB
In short
From € 36,495 profit in 2022 to € 31,775 profit in 2025.
Paid € 167,165 in corporate taxes since 2022.
Best year ever: 2024, with € 309,050 profit.
Pays suppliers within 80 days on average.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of K FINANCE COORDINATION & SERVICES comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
TEX DEVELOPMENTThe shares are held by K FINANCE COORDINATION & SERVICES (100%).
Directors
According to the 2025 annual accounts
Erol Kandiyoti
Managing director
Also active at: L'Union Immobilière, Chemitex, Admiro, K FINANCE COORDINATION & SERVICES, MUSICA MUNDI SCHOOL, KREST REAL ESTATE INVESTMENTS, KREST 3, KREST 2 +3 more
since 2023 · until 2029
CLAUDE KANDIYOTI
Director
since 2023 · until 2029
Igal KANDIYOTI
Managing director
Also active at: Chemitex, Admiro, K FINANCE COORDINATION & SERVICES, COTITEX, KREST & C°, KREST 3, KREST 2, K PUURS LOGISTICS +3 more
since 2023 · until 2029
K FINANCE COORDINATION & SERVICES SA
Director · represented by Ralfi KANDIYOTI
since 2023 · until 2029
since 2023 · until 2029
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Louizalaan 221 box 4
1050 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 29 companies are registered at this address.
All companies at this address →L'Union Immobilière same network
€ 39,400 gross margin · 2025
PATRIA
€ 107,560 gross margin · 2025
Chemitex same network
€ 101.3 million revenue · 2025
Amicale du Personnel d'Old England
Admiro same network
€ 25.4 million revenue · 2025
+24 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
- 0806.294.682
- VAT number
- BE 0806.294.682
- Registered office
- Louizalaan 221 bus 4, 1050 Brussel
- Names & denominations
- TEX DEVELOPMENT
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 11 September 2008
- Peppol
- Active · Active since 18 Dec 2025
- Activities · NACE
Groothandel in weefsels, stoffen en fournituren
Detailhandel in breigarens, handwerken en fournituren
Detailhandel in kledingstoffen
Detailhandel in huishoudtextiel en beddengoed
Detailhandel in overig textiel