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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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 1 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
22 other companies have their registered office at the same address; threshold 10.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
Titan America from Brussel, company number BE1011751174, closed financial year 2025 with a result of € -3 million after tax. Compared with financial year 2024, the result moved from € -6.1 million to € -3 million. The company made a loss. 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 May 21, 2026.
€ 3.3 billion
▲ 3% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -3 million
▲ 51 % less loss than in 2024
Profit after tax over the fiscal year.
€ 46,967
▼ 77% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -9 million.
People and assets in 2025
0.8
Average over the fiscal year, from the social balance sheet.
€ 243,524
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.
€ 390,861
▼ 96% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 33 days on average.
€ 52,777
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
| 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|
| Profit after taxes | € -6,053,836 | € -2,981,597 | ▲ € 3.1 million |
| Equity | € 3,194,146,050 | € 3,298,291,959 | ▲ 3% |
| Total debts | € 9,671,151 | € 8,052,280 | ▼ 17% |
| Cash | € 199,996 | € 46,967 | ▼ 77% |
| Retained profit | € -6,053,836 | € -9,035,434 | ▼ € 3 million |
| Balance sheet total | € 3,203,817,201 | € 3,306,729,571 | ▲ 3% |
| Employees (FTE) | - | 0.8 |
Key figures of Titan America, fiscal years 2024 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 Titan America?
What happened at Titan America in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Michael Colakides stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 3 million. Source: NBB ↗
- Willem Van der Smissen stepped down as director. NBB
- William Antholis stepped down as director. NBB
- Vassilios Zarkalis stepped down as director. NBB
- Marcel Cobuz stepped down as director. NBB
- Sandra Soares Santos stepped down as director. NBB
- James Bachmann stepped down as director. NBB
In short
From € 6.1 million loss in 2024 to € 3 million loss in 2025.
Pays suppliers within 33 days on average.
Management
The shares are held by TITAN S.A. (86.7%). It owns 100% of Titan Atlantic Cement Industrial & Commercial Single Member itself.
Directors
According to the 2025 annual accounts
Nikolaos Birakis
Director
since 2024 · until 2025
Willem Van der Smissen
Director
since 2025 · until 2026
Grigorios Dikaios
Director
since 2024 · until 2025
Nikolaos Andreadis
Director
since 2024 · until 2025
William Antholis
Director
since 2025 · until 2026
Vassilios Zarkalis
Director
since 2025 · until 2026
Marcel Cobuz
Director
since 2025 · until 2026
Michael Colakides
Director
since 2024 · until 2030
Sandra Soares Santos
Director
since 2025 · until 2026
James Bachmann
Director
since 2025 · until 2026
Shareholders
86.7%
Participations
Titan Atlantic Cement Industrial & Commercial Single Member
100%
Establishments
Establishment units
Physical locations of this company
Sinter-Goedeleplein 14
1000 Brussel
de Meeûssquare 37
1000 Brussel
Active since 19 July 2024
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 22 companies are registered at this address.
All companies at this address →Vlaamse Interuniversitaire Raad
€ 1.7 million revenue · 2025
BGROUP GREISCH
€ 2.9 million gross margin · 2025
ISABEL
€ 68.5 million revenue · 2025
EFFIGY CONSULTING
€ 273,071 gross margin · 2024
BUENDIA TOURS
€ 200,565 gross margin · 2025
+17 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
- 1011.751.174
- VAT number
- BE 1011.751.174
- Registered office
- Sinter-Goedeleplein 14, 1000 Brussel
- Names & denominations
- Titan America
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 19 July 2024
- Peppol
- Not registered
- Activities · NACE
Activiteiten van holdings