Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 39 % of short-term debt in 2025; threshold 65 %.
-
Busy address KBO
60 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Top Brands from Antwerpen, company number BE0872646939, closed financial year 2025 with a result of € -9.2 million after tax. Compared with financial year 2024, the result moved from € 74,946 to € -9.2 million. The company made a loss. The buffer shrank hard: equity is 65 % below last year. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 8, 2026.
€ 4.9 million
▼ 65% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -9.2 million
▼ still € 74,946 profit in 2024
Profit after tax over the fiscal year.
€ 2.6 million
▼ 16% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 4.1 million.
People and assets in 2025
2.2
▲ 0.9 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 68,710
▼ 23% vs 2024
€ 31,200 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.
Debts at end 2025
€ 5 million
▲ 30% vs 2024
Loans from banks and other lenders, long and short.
€ 184,095
▲ 11% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 45 days on average.
€ 96,074
▲ 272% vs 2024
Taxes, VAT and social contributions still to pay.
Want to see how much further we take a dossier in the Pro version? Open the free De Lijn example and give feedback →
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Profit after taxes | € 879,232 | € 9,862 | € 74,946 | € -9,247,191 | ▼ € 9.3 million |
| Equity | € 14,302,243 | € 14,237,105 | € 14,237,051 | € 4,914,860 | ▼ 65% |
| Total debts | € 36,516,196 | € 35,042,654 | € 39,320,230 | € 39,159,420 | |
| Cash | € 5,740,979 | € 4,056,292 | € 3,082,431 | € 2,587,593 | ▼ 16% |
| Retained profit | € 13,489,743 | € 13,424,605 | € 13,424,551 | € 4,102,360 | ▼ 69% |
| Dividend | € 90,000 | € 75,000 | € 75,000 | € 75,000 | |
| Bank debt | € 3,357,277 | € 3,583,710 | € 3,845,405 | € 5,000,000 | ▲ 30% |
| Balance sheet total | € 50,818,439 | € 49,279,759 | € 53,557,281 | € 44,074,280 | ▼ 18% |
| Employees (FTE) | 2.4 | 2 | 1.3 | 2.2 | ▲ 0.9 |
Key figures of Top Brands, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 June 2027.
What happened to Top Brands?
What happened at Top Brands in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Ilmada Consult BV stepped down as director. NBB
- Vincita Management BV stepped down as director. NBB
- Creations & Theories BV stepped down as director. NBB
- Fizza BV stepped down as director. NBB
- Site Management Services BV stepped down as director. NBB
- CI2I BVBA stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 9.2 million (▼ € 9.3 million vs 2024). Source: NBB ↗
- Fizza BV became a director. NBB
In short
From € 879,232 profit in 2022 to € 9.2 million loss in 2025.
Best year ever: 2022, with € 879,232 profit.
Paid out € 315,000 in dividends to the owners in total.
Pays suppliers within 45 days on average.
A new publication or filing at Top Brands? We notify you, reason included.
Follow Top BrandsDatabakkes Pro
Know what changes at your customers, suppliers and competitors. Without reading an annual account.
- Follow them in one folder Every company in your folder gets this full dossier: household book, all fiscal years, benchmark against companies of the same size.
- We alert you, with the reason New annual account, Official Gazette publication or status change: you get what changed and where it says so.
- In bulk too, and in ChatGPT and Claude Upload your customer list and get the warning signs back per company. Or ask in your own AI assistant, with this register as the source.
Databakkes Pro is being built. Sign up now and you are first in line for an invitation, with a month to try without a credit card.
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 TIMELESS INVESTMENTS comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Top BrandsThe shares are held by TIMELESS INVESTMENTS (78%). It owns 100% of Wasbar International, 100% of Wasbar Belgium, 100% of Beetroot Invest, 100% of Pizza Belgium and 100% of Le Monde du Pain itself.
Directors
According to the 2025 annual accounts
Director · represented by Daan Milis
since 2023 · until 2029
Director · represented by Stef Vincke
since 2023 · until 2029
Director · represented by Kristoff Tillieu
since 2023 · until 2029
Director · represented by Simon Lerno
since 2025 · until 2029
Managing director · represented by Stefan Meulemans
Also active at: PIZZA BELGIUM, Wasbar Belgium, Beetroot Invest, BUNZ, THINK2ACT CAPITAL, Le Monde du Pain
since 2023 · until 2029
Shareholders
Participations
Wasbar International
100%
100%
100%
100%
100%
Establishments
Establishment units
Physical locations of this company
Borsbeeksebrug 34 box 4
2600 Antwerpen
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 60 companies are registered at this address.
All companies at this address →Athena
PIZZA BELGIUM same network
€ 45.8 million revenue · 2025
MABEMI
€ -5,762 gross margin · 2022
C & C LASER
€ -50,670 gross margin · 2025
Linde Gas Belgium
€ 13.1 million revenue · 2025
+55 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Certifications & Partners
Hosting & Email
Email provider
Microsoft 365
Hosting
ACNBB, NL
Website info
Features
Security
Details
- Company number
- 0872.646.939
- VAT number
- BE 0872.646.939
- Registered office
- Borsbeeksebrug 34 bus 4, 2600 Antwerpen
- Names & denominations
- Top Brands
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 22 March 2005
- Peppol
- Active · Active since 1 Jan 2001
- Contact
- topbrands.be
- Activities · NACE
Activiteiten van holdings
Managementactiviteiten van holdings
Holdings
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Overige adviesbureaus op het gebied van bedrijfsvoering en beheer
Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering