Summary
EFIN is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €299.7m and a net result of €18.1m. Equity remains stable across the filed fiscal years (±0.8% per year). Its solvency ranks better than 95% of 2817 sector peers (fiscal year 2024). The company has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €299.7m
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 16-06-2025, 45 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
45 d early
2023
90 d late
2022
40 d early
2021
51 d early
2020
58 d early
2019
54 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 8 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
In the rankings
#2 company by total assets in Torhout#2 company by equity in Torhout#8 oldest company in Torhout, Finance and insurance sector
Equity
€299.7m▲ 28.0%
2023 · €234.2m
Net result
€18.1m▲ 91.5%
2023 · €9.5m
Total assets
€302.1m▲ 27.8%
2023 · €236.3m
Solvency
99.2%▲ 0.1pp
2023 · 99.1%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€399,267▲ 129%€468,482▲ 17.3%€418,012▼ 10.8%€1.1m▲ 165%€659,844▼ 40.4%
Operating result-€412,795▼ 17.5%-€475,873▼ 15.3%-€394,307▲ 17.1%-€1.4m▼ 257%-€1.2m▲ 12.5%
Net result€8.4mabove the sector's middle half▲ 7.1%€9.9mabove the sector's middle half▲ 17.5%€8.6mabove the sector's middle half▼ 13.5%€9.5mabove the sector's middle half▲ 10.4%€18.1mabove the sector's middle half▲ 91.5%
Equity€228.2mabove the sector's middle half▼ 0.8%€231.8mabove the sector's middle half▲ 1.6%€233.9mabove the sector's middle half▲ 0.9%€234.2mabove the sector's middle half▲ 0.2%€299.7mabove the sector's middle half▲ 28.0%
Total assets€229.6mabove the sector's middle half▼ 0.7%€233.4mabove the sector's middle half▲ 1.6%€235.5mabove the sector's middle half▲ 0.9%€236.3mabove the sector's middle half▲ 0.4%€302.1mabove the sector's middle half▲ 27.8%
Debt€1.4m▲ 8.1%€1.6m▲ 15.8%€1.6m▲ 2.4%€2.1m▲ 29.7%€2.4m▲ 13.0%
Working capital€42.7mabove the sector's middle half▼ 4.8%€48.7mabove the sector's middle half▲ 14.1%€50.8mabove the sector's middle half▲ 4.3%€51.2mabove the sector's middle half▲ 0.8%€37.0mabove the sector's middle half▼ 27.8%
Solvency99.4%above the sector's middle half=99.3%above the sector's middle half▼ 0.1pp99.3%above the sector's middle half=99.1%above the sector's middle half▼ 0.2pp99.2%above the sector's middle half▲ 0.1pp
Current ratio32.08above the sector's middle half▼ 4.1832.31above the sector's middle half▲ 0.2332.71above the sector's middle half▲ 0.3926.47above the sector's middle half▼ 6.2316.97above the sector's middle half▼ 9.50
Return on assets (ROA)3.7%within the sector's middle half▲ 0.3pp4.3%within the sector's middle half▲ 0.6pp3.6%within the sector's middle half▼ 0.6pp4.0%within the sector's middle half▲ 0.4pp6.0%within the sector's middle half▲ 2.0pp
Staff (FTE)1.8within the sector's middle half▲ 28.6%1.7within the sector's middle half▼ 5.6%1.5within the sector's middle half▼ 11.8%2.3within the sector's middle half▲ 53.3%1.5within the sector's middle half▼ 34.8%
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1.2m in 2024 against €1.4m in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €302.1m
Fixed assets
€262.8m ▲ 43.5%
Current assets
€39.3m ▼ 26.2%
Equity and liabilities €302.1m
Equity
€299.7m ▲ 28.0%
Debt
€2.4m ▲ 13.0%
Debt's share of the balance-sheet total falls from 0.9% to 0.8%. Equity and debt are higher.
Key figures and ratios
ROE
6.1%▲
2023 · 4.0%
Debt ≤ 1 year
€2.3m▲
2023 · €2.0m
Income taxes
€190,052▲
2023 · €149,874
Staff costs
€319,374▼
2023 · €631,939
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €470,120 | €419,202 | €1.1m | €692,612 | ▼ 38.6% |
| Turnover70 | €399,267 | €468,482 | €418,012 | €1.1m | €659,844 | ▼ 40.4% |
| Other operating income74 | - | €1,638 | €1,189 | €5,497 | €32,768 | ▲ 496% |
| Non-recurring operating income76A | - | - | - | €14,625 | - | - |
| Operating charges60/66A | - | €945,993 | €813,509 | €2.5m | €1.9m | ▼ 24.1% |
| Goods for resale, raw materials and consumables60 | - | €30,447 | €45,522 | €698,227 | €265,316 | ▼ 62.0% |
| Purchases600/8 | - | €30,447 | €45,522 | €698,227 | €265,316 | ▼ 62.0% |
| Services and other goods61 | - | €502,318 | €336,301 | €1.2m | €1.2m | ▲ 6.7% |
| Remuneration, social security and pensions62 | - | €373,414 | €398,060 | €631,939 | €319,374 | ▼ 49.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,555 | €13,765 | €13,069 | €3,888 | €2,370 | ▼ 39.0% |
| Other operating charges640/8 | - | €26,048 | €20,558 | €41,997 | €100,765 | ▲ 140% |
| Operating profit (loss)9901 | -€412,795 | -€475,873 | -€394,307 | -€1.4m | -€1.2m | ▲ 12.5% |
| Financial income75/76B | - | €10.5m | €9.0m | €11.1m | €19.9m | ▲ 79.0% |
| Recurring financial income75 | €9.0m | €10.5m | €9.0m | €11.1m | €18.3m | ▲ 64.7% |
| Income from financial fixed assets750 | - | €9.9m | €8.4m | €9.0m | €16.3m | ▲ 80.1% |
| Income from current assets751 | - | €625,868 | €601,964 | €2.1m | €2.0m | ▼ 2.6% |
| Non-recurring financial income76B | - | - | - | - | €1.6m | - |
| Financial charges65/66B | - | €116,064 | €9,748 | €84,596 | €338,165 | ▲ 300% |
| Recurring financial charges65 | €641 | €116,064 | €9,748 | €47,345 | €38,165 | ▼ 19.4% |
| Debt charges650 | - | €115,420 | - | - | €3 | - |
| Other financial charges652/9 | - | €644 | €9,748 | €47,345 | €38,162 | ▼ 19.4% |
| Non-recurring financial charges66B | - | - | - | €37,251 | €300,000 | ▲ 705% |
| Profit (loss) for the period before taxes9903 | €8.5m | €9.9m | €8.6m | €9.6m | €18.3m | ▲ 90.5% |
| Income taxes67/77 | €93,941 | €10,424 | €52,004 | €149,874 | €190,052 | ▲ 26.8% |
| Taxes670/3 | - | €10,424 | €52,004 | €149,874 | €190,052 | ▲ 26.8% |
| Profit (loss) for the period9904 | €8.4m | €9.9m | €8.6m | €9.5m | €18.1m | ▲ 91.5% |
| Profit (loss) for the period to be appropriated9905 | €8.4m | €9.9m | €8.6m | €9.5m | €18.1m | ▲ 91.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €229.6m | €233.4m | €235.5m | €236.3m | €302.1m | ▲ 27.8% |
| Fixed assets21/28 | €185.5m | €183.1m | €183.1m | €183.1m | €262.8m | ▲ 43.5% |
| Tangible fixed assets22/27 | €25,426 | €15,169 | €8,025 | €4,082 | €2,776 | ▼ 32.0% |
| Furniture and vehicles24 | - | €15,169 | €8,025 | €4,082 | €2,776 | ▼ 32.0% |
| Financial fixed assets28 | €185.5m | €183.1m | €183.1m | €183.1m | €262.8m | ▲ 43.5% |
| Affiliated companies280/1 | - | €186,500 | €61,500 | - | - | - |
| Participating interests280 | - | €186,500 | €61,500 | - | - | - |
| Companies linked by participating interests282/3 | - | €178.8m | €178.9m | €178.9m | €261.8m | ▲ 46.4% |
| Participating interests282 | - | €178.8m | €178.9m | €178.9m | €261.8m | ▲ 46.4% |
| Other financial fixed assets284/8 | - | €4.1m | €4.1m | €4.2m | €966,726 | ▼ 76.8% |
| Shares284 | - | €4.1m | €4.1m | €4.2m | €966,726 | ▼ 76.8% |
| Current assets29/58 | €44.1m | €50.3m | €52.4m | €53.2m | €39.3m | ▼ 26.2% |
| Amounts receivable after more than one year29 | - | €6.8m | €4.3m | €3.8m | €3.2m | ▼ 14.4% |
| Other amounts receivable291 | - | €6.8m | €4.3m | €3.8m | €3.2m | ▼ 14.4% |
| Amounts receivable within one year40/41 | €2.1m | €3.0m | €10.6m | €1.9m | €2.1m | ▲ 7.3% |
| Trade receivables40 | - | €156,212 | €278,106 | €215,002 | €279,019 | ▲ 29.8% |
| Other amounts receivable41 | - | €2.9m | €10.4m | €1.7m | €1.8m | ▲ 4.5% |
| Current investments50/53 | €29.6m | €34.1m | €35.8m | €47.1m | €33.5m | ▼ 28.8% |
| Other investments51/53 | - | €34.1m | €35.8m | €47.1m | €33.5m | ▼ 28.8% |
| Cash at bank and in hand54/58 | €3.5m | €6.0m | €1.4m | €123,739 | €150,892 | ▲ 21.9% |
| Deferred charges and accrued income490/1 | - | €347,131 | €308,532 | €292,082 | €290,834 | ▼ 0.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €229.6m | €233.4m | €235.5m | €236.3m | €302.1m | ▲ 27.8% |
| Equity10/15 | €228.2m | €231.8m | €233.9m | €234.2m | €299.7m | ▲ 28.0% |
| Contributions10/11 | - | €178.9m | €178.9m | €178.9m | €242.3m | ▲ 35.4% |
| Reserves13 | €49.3m | €52.8m | €54.9m | €55.3m | €57.4m | ▲ 3.8% |
| Non-distributable reserves130/1 | - | €21.5m | €21.5m | €21.5m | €14.9m | ▼ 30.7% |
| Reserves not available under the articles1311 | - | €14.9m | €14.9m | €14.9m | €14.9m | = |
| Other1319 | - | €6.6m | €6.6m | €6.6m | - | - |
| Distributable reserves133 | - | €31.4m | €33.5m | €33.8m | €42.5m | ▲ 25.7% |
| Amounts payable17/49 | €1.4m | €1.6m | €1.6m | €2.1m | €2.4m | ▲ 13.0% |
| Amounts payable within one year42/48 | €1.4m | €1.6m | €1.6m | €2.0m | €2.3m | ▲ 15.1% |
| Trade debts44 | €31,961 | €47,772 | €52,830 | €45,800 | €118,477 | ▲ 159% |
| Suppliers440/4 | - | €47,772 | €52,830 | €45,800 | €118,477 | ▲ 159% |
| Taxes, remuneration and social security45 | - | €43,453 | €66,462 | €40,209 | €105,710 | ▲ 163% |
| Taxes450/3 | - | €8,700 | €33,694 | €9,550 | €69,895 | ▲ 632% |
| Remuneration and social security454/9 | - | €34,753 | €32,767 | €30,659 | €35,815 | ▲ 16.8% |
| Other amounts payable47/48 | - | €1.5m | €1.5m | €1.9m | €2.1m | ▲ 8.6% |
| Accrued charges and deferred income492/3 | - | €37,147 | €28,962 | €105,071 | €77,111 | ▼ 26.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8.4m | €9.9m | €8.6m | €9.5m | €18.1m | ▲ 91.5% |
| + Depreciation and write-downs630 | €13,555 | €13,765 | €13,069 | €3,888 | €2,370 | ▼ 39.0% |
| Operating cash flow (approximation) | €8.5m | €9.9m | €8.6m | €9.5m | €18.1m | ▲ 91.4% |
| Investment in fixed assets (approximation) | - | €2.4m | -€5,925 | -€13,444 | -€79.7m | ▼ 592,902% |
| Change in cash | - | €2.5m | -€4.6m | -€1.3m | €27,152 | ▲ 102% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
16-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €18.1m ▲91.5%
Net result €18.1m, the highest in the series.
31-12
Financial
Equity above €250mEq €299.7m ▲28%
7 profitable years in a row build equity to €299.7m.
29-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 90 days late
12-07
State Gazette act
General meeting · Capital increase
Bank account · Statutes amendment · Florence DEFORCE
2023
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
10-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
03-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
23-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 54 days late
2019
19-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
13-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
28-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 18 acts read
About the unread acts
We know of 18 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
18 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Torhout · 1 establishment unit since 2000
Ground area
3.3 ha
Building footprint
3,272 m²
Volume, LiDAR
33,125 m³
Parcel 31522B0495/00K000, Flanders · tallest building 11.4 m, ±3 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
EFIN
since 20002.097.516.815
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31522B0495/00K000 | Flanders | 3.3 ha | 1 · 3,272 m² | 11.4 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
18 owners · 7 holdingsOwners 18
-
14.9%
-
13.74%
-
12.76%
-
8.85%
-
8.3%
-
6.08%
-
5.71%
-
5.42%
- Sourceown accounts 20244.71%
- Sourceown accounts 20243.93%
Show 8 more owners
-
3.72%
-
3.66%
-
3.23%
-
2.92%
-
2.07%
-
5 shares
-
5 shares
- Sourceown accounts 20245 shares
Holdings 7
-
35%
-
31.44%
-
29.99%
-
25%
- Equity €599.5mResult €18.4m10.2%
-
6.09%
-
3.45%
Stated earlier (1)
An older source named these holdings; newer accounts no longer list them.
-
100%
According to the 2024 annual accounts of EFIN and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 152 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 152 EUR | 0 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
549300OPUU9CS21EWW05
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,799. 900 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded30-06-2000
Fiscal year end31-12
Activities, NACEBEL 2025
35110Production of electricity from non-renewable sources
64210Activities of holding companies
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0472244597
Registered
27-03-2026
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.