TEF
Annual accounts 2024
micro format, filed on 30-09-2025, 61 days late2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 9 November 2026.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €570,000. Estimated: probably between €470,000 and €760,000.
Balance sheet
balance sheet total €67,261 on 31-12-2024in euro
in euro
Position in the sector
18.1%
Higher than 25% of 9,459 companies in 2024.
1.09
Higher than 30% of 9,064 companies in 2024.
0.3%
Higher than 25% of 9,192 companies in 2024.
Net result: middle half · Equity: bottom quarter · Balance sheet total: middle half · Working capital: middle half
Staff
€46,543
Staff costs divided by the average number of full-time equivalents.
+1 person
In 2024, 6 people joined and 5 left.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||||
20/58 |
67,261 | 55,435 | 84,339 | 98,758 | 67,018 | 105,154 | 77,347 | 58,215 | 61,369 | 77,432 | 38,073 | 31,273 | 44,179 | 66,974 | 97,923 | 45,191 | 60,146 | 109,075 | 59,953 | |
21/28 |
13,650 | 16,418 | 19,185 | 1,382 | 1,790 | 649 | 2,597 | 5,216 | 8,294 | 1,880 | 1,880 | 3,665 | 975 | 22,084 | 36,456 | 16,160 | 19,151 | 1,203 | 240 | |
22/27 |
13,650 | 16,418 | 19,185 | 1,382 | 1,790 | 649 | 2,597 | 5,216 | 8,294 | 1,880 | 1,880 | 3,665 | 975 | 22,084 | 36,456 | 16,160 | 19,151 | 1,203 | 240 | |
23 |
1,811 | 2,587 | 3,363 | - | - | - | - | - | - | - | - | 325 | 975 | 1,625 | 2,708 | 3,792 | - | 1,203 | 240 | |
24 |
11,839 | 13,830 | 15,822 | 1,382 | 1,790 | 649 | 2,597 | 5,216 | 8,294 | 1,880 | 1,880 | 3,340 | - | 20,459 | 33,748 | 12,369 | 19,151 | - | - | |
29/58 |
53,611 | 39,018 | 65,153 | 97,376 | 65,228 | 104,505 | 74,749 | 53,000 | 53,076 | 75,552 | 36,193 | 27,608 | 43,204 | 44,890 | 61,467 | 29,031 | 40,996 | 107,872 | 59,713 | |
3 |
18,525 | 18,525 | 16,687 | 14,619 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
30/36 |
18,525 | 18,525 | 16,687 | 14,619 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
40/41 |
29,003 | 13,979 | 31,233 | 42,536 | 57,208 | 56,437 | 5,214 | 43,127 | 49,276 | 52,558 | 21,878 | 24,455 | 36,833 | 44,247 | 38,520 | 25,403 | 25,272 | 107,515 | 52,865 | |
40 |
20,800 | 9,720 | 26,052 | 41,919 | 56,293 | 54,956 | 4,299 | 42,199 | 48,360 | 51,642 | 20,962 | 24,455 | 36,833 | 44,200 | 38,518 | 25,402 | 25,272 | 107,246 | 52,596 | |
41 |
8,203 | 4,259 | 5,181 | 617 | 915 | 1,480 | 915 | 929 | 916 | 915 | 915 | - | - | 47 | 2 | 1 | - | 269 | 269 | |
54/58 |
1,855 | 3,384 | 14,042 | 32,130 | 5,962 | 42,620 | 63,944 | 9,873 | - | 22,995 | 10,516 | 2,797 | 6,371 | 643 | 22,947 | 3,627 | 15,724 | 357 | 6,848 | |
490/1 |
4,227 | 3,129 | 3,192 | 8,091 | 2,057 | 5,448 | 5,591 | - | 3,800 | - | 3,799 | 356 | - | - | - | - | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||||||||
10/49 |
67,261 | 55,435 | 84,339 | 98,758 | 67,018 | 105,154 | 77,347 | 58,215 | 61,369 | 77,432 | 38,073 | 31,273 | 44,179 | 66,974 | 97,923 | 45,191 | 60,146 | 109,075 | 59,953 | |
10/15 |
12,153 | 11,950 | 11,716 | 12,850 | 4,738 | 3,292 | 2,476 | 217 | 1,747 | 425 | 182 | -2,737 | -1,798 | 697 | 7,938 | 7,814 | 21,470 | 21,433 | 21,385 | |
10/11 |
18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 6,197 | 6,197 | 6,197 | 6,197 | 6,197 | 6,197 | 6,197 | 6,197 | 6,197 | 6,197 | |
100 |
- | - | - | - | - | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | |
101 |
- | - | - | - | - | - | - | - | - | 12,395 | 12,395 | 12,395 | 12,395 | 12,395 | 12,395 | 12,395 | 12,395 | 12,395 | 12,395 | |
13 |
15,273 | 15,273 | 15,273 | 15,273 | 15,273 | 15,273 | 15,273 | 15,273 | 15,273 | 15,273 | 15,273 | 15,273 | 15,273 | 15,273 | 15,273 | 15,273 | 15,273 | 15,235 | 15,188 | |
130/1 |
- | - | - | 1,859 | 1,859 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | |
1311 |
- | - | - | 1,859 | 1,859 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
133 |
15,273 | 15,273 | 15,273 | 13,414 | 13,414 | 13,414 | 13,414 | 13,414 | 13,414 | 13,414 | 13,414 | 13,414 | 13,414 | 13,414 | 13,414 | 13,414 | 13,414 | 13,376 | 13,329 | |
14 |
-21,712 | -21,915 | -22,149 | -21,015 | -29,127 | -30,573 | -31,389 | -33,648 | -32,118 | -21,045 | -21,288 | -24,208 | -23,269 | -20,774 | -13,532 | -13,657 | - | - | - | |
17/49 |
55,108 | 43,485 | 72,622 | 85,908 | 62,280 | 101,862 | 74,871 | 57,999 | 59,622 | 77,007 | 37,891 | 34,010 | 45,977 | 66,277 | 89,985 | 37,377 | 38,676 | 87,643 | 38,568 | |
17 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 4,787 | 16,002 | - | - | - | - | |
170/4 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 4,787 | 16,002 | - | - | - | - | |
42/48 |
49,208 | 43,485 | 72,622 | 85,908 | 62,280 | 101,862 | 74,871 | 57,999 | 59,622 | 77,007 | 37,891 | 34,010 | 45,977 | 61,490 | 73,983 | 37,377 | 38,676 | 87,643 | 38,568 | |
42 |
10,417 | - | - | - | - | - | - | - | - | - | - | - | 4,787 | 11,216 | 10,841 | - | - | - | - | |
43 |
2,156 | 2,846 | - | 536 | 205 | - | - | - | 565 | - | - | - | - | 1,896 | - | - | - | - | - | |
430/8 |
2,156 | 2,846 | - | 536 | 205 | - | - | - | 565 | - | - | - | - | 1,896 | - | - | - | - | - | |
44 |
1,685 | 13,133 | 16,545 | 13,336 | 304 | 20,871 | 12,598 | 4,604 | 10,450 | 8,756 | 3,814 | 2,737 | 146 | 12,669 | 25,956 | 21,209 | 30,528 | 58,381 | 16,997 | |
440/4 |
1,685 | 13,133 | 16,545 | 13,336 | 304 | 20,871 | 12,598 | 4,604 | 10,450 | 8,756 | 3,814 | 2,737 | 146 | 12,669 | 25,956 | 21,209 | 30,528 | 58,381 | 16,997 | |
46 |
- | - | - | - | - | - | 1,671 | - | - | - | - | - | - | - | - | - | - | - | - | |
45 |
34,859 | 27,507 | 56,077 | 63,604 | 58,220 | 79,826 | 60,602 | 29,357 | 31,419 | 41,097 | 12,359 | 17,916 | 28,878 | 25,213 | 26,980 | 14,021 | 7,500 | 20,192 | 13,653 | |
450/3 |
8,265 | 4,291 | 19,910 | 38,987 | 34,122 | 37,785 | 26,912 | 17,348 | 19,239 | 28,014 | 12,359 | 17,916 | 24,535 | 16,018 | 19,664 | - | 3,220 | 14,602 | 5,774 | |
454/9 |
26,593 | 23,216 | 36,167 | 24,617 | 24,098 | 42,041 | 33,690 | 12,010 | 12,180 | 13,082 | - | - | 4,343 | 9,194 | 7,316 | 14,021 | 4,280 | 5,590 | 7,878 | |
47/48 |
92 | - | - | 8,433 | 3,551 | 1,165 | - | 24,037 | 17,187 | 27,154 | 21,717 | 13,357 | 12,167 | 10,497 | 10,206 | 2,148 | 648 | 9,069 | 7,919 | |
492/3 |
5,900 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Income statement | ||||||||||||||||||||
9900 |
378,618 | 337,636 | 322,636 | 386,012 | 346,635 | 357,123 | 365,410 | 326,520 | 334,255 | 223,617 | 152,205 | 175,536 | 220,424 | 217,942 | 154,794 | 131,064 | 164,561 | 137,385 | 113,831 | |
62 |
367,688 | 329,478 | 318,427 | 369,279 | 339,750 | 348,650 | 353,992 | 317,559 | 333,430 | 215,463 | 140,413 | 168,415 | 203,950 | 209,710 | 135,237 | 135,359 | 155,640 | 134,635 | 105,551 | |
630 |
2,768 | 2,768 | 1,910 | 408 | 359 | 1,948 | 2,618 | 3,078 | 6,168 | - | 1,785 | 3,360 | 1,072 | 8,184 | 14,365 | 7,540 | 6,782 | 841 | 480 | |
640/8 |
887 | 877 | 933 | 1,237 | 629 | 600 | 702 | 348 | 348 | 363 | 363 | 639 | 348 | 670 | 855 | 436 | 348 | 541 | 522 | |
66A |
- | - | - | - | - | - | - | - | - | 1,872 | - | - | 10,036 | 2,188 | - | - | - | - | - | |
9901 |
7,275 | 4,514 | 1,367 | 15,087 | 5,897 | 5,926 | 8,097 | 5,535 | -5,690 | 7,790 | 9,644 | 3,122 | 15,055 | -623 | 4,337 | -12,272 | 1,791 | 1,368 | 7,278 | |
75/76B |
0 | 51 | 121 | 0 | - | 0 | - | 1 | 1 | 0 | 5 | - | 11 | - | 165 | - | 14 | 22 | 0 | |
75 |
0 | 51 | 121 | 0 | - | 0 | - | 1 | 1 | 0 | 5 | - | 11 | - | 165 | - | 14 | 22 | 0 | |
65/66B |
1,791 | 1,388 | 1,361 | 1,558 | 1,313 | 640 | 380 | 2,221 | 2,616 | 2,460 | 2,238 | 1,962 | 2,195 | 2,394 | 1,802 | 760 | 487 | 1,280 | 959 | |
65 |
1,791 | 1,388 | 1,361 | 1,558 | 1,313 | 640 | 380 | 2,221 | 2,616 | 2,460 | 2,238 | 1,962 | 2,195 | 2,394 | 1,802 | 760 | 487 | 1,280 | 959 | |
9903 |
5,484 | 3,178 | 126 | 13,530 | 4,584 | 5,285 | 7,717 | 3,315 | -8,306 | 3,459 | 7,411 | 1,159 | 2,834 | -5,205 | 2,700 | -13,032 | 1,318 | 110 | 6,320 | |
67/77 |
5,281 | 2,944 | 1,260 | 5,418 | 3,138 | 4,470 | 5,457 | 4,845 | 2,767 | 3,215 | 4,492 | 2,098 | 5,329 | 2,036 | 2,576 | 624 | 1,280 | 63 | 381 | |
9904 |
203 | 234 | -1,133 | 8,112 | 1,446 | 816 | 2,259 | -1,530 | -11,073 | 243 | 2,919 | -939 | -2,495 | -7,241 | 124 | -13,657 | 38 | 47 | 5,938 | |
9905 |
203 | 234 | -1,133 | 8,112 | 1,446 | 816 | 2,259 | -1,530 | -11,073 | 243 | 2,919 | -939 | -2,495 | -7,241 | 124 | -13,657 | 38 | 47 | 5,938 | |
| Appropriation of the result | ||||||||||||||||||||
9906 |
-21,712 | -21,915 | -22,149 | -21,015 | -29,127 | -30,573 | -31,389 | -33,648 | -32,118 | -21,045 | -21,288 | -24,208 | -23,269 | -20,774 | -13,532 | -13,657 | 38 | 47 | 5,938 | |
14P |
-21,915 | -22,149 | -21,015 | -29,127 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 38 | 47 | 5,938 | |
6921 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 38 | 47 | 5,938 | |
| Social balance sheet | ||||||||||||||||||||
9087 |
7.9 | 7.9 | 9.2 | 9.7 | 9.6 | 8.9 | 8.3 | 8.8 | 8.8 | 8.8 | 3.8 | 4.7 | 6.5 | 8.2 | 4.5 | 4.5 | 5.5 | 5.7 | 4.6 | |
Hours worked1013 |
13,349 | 12,038 | 12,647 | 14,042 | 12,624 | 14,632 | 14,189 | 14,047 | 15,584 | 10,218 | 6,269 | 80,028 | 10,280 | 11,239 | 7,690 | 7,964 | 9,164 | 10,093 | 8,416 | |
| Document | ||||||||||||||||||||
The accounts for 11 older financial years (1995-2005) were filed as documents without figures as data, scans for example.
The notes to these accounts have 4 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2024 (PDF), filed on 30-09-2025.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 30-09-2025 | 2025-00514008 | |
| 31-12-2023 | micro format | 30-09-2024 | 2024-00480086 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00394048 | |
| 31-12-2021 | micro format | 29-07-2022 | 2022-20242921 | |
| 31-12-2020 | micro format | 30-06-2021 | 2021-28500147 | |
| 31-12-2019 | micro format | 30-06-2020 | 2020-24600438 | |
| 31-12-2018 | micro format | 28-06-2019 | 2019-25900014 | |
| 31-12-2017 | micro format | 17-07-2018 | 2018-34300180 | |
| 31-12-2016 | micro format | 24-07-2017 | 2017-35700104 | |
| 31-12-2015 | abbreviated format | 28-06-2016 | 2016-26900345 | |
| 31-12-2014 | abbreviated format | 30-06-2015 | 2015-24500377 | |
| 31-12-2013 | abbreviated format | 25-07-2014 | 2014-35500406 | |
| 31-12-2012 | abbreviated format | 29-08-2013 | 2013-51400167 | |
| 31-12-2011 | abbreviated format | 31-07-2012 | 2012-37100159 | |
| 31-12-2010 | abbreviated format | 16-08-2011 | 2011-40500169 | |
| 31-12-2009 | abbreviated format | 26-07-2010 | 2010-34300165 | |
| 31-12-2008 | abbreviated format | 31-07-2009 | 2009-52500065 | |
| 31-12-2007 | abbreviated format | 23-08-2008 | 2008-60500069 | |
| 31-12-2006 | abbreviated format | 10-08-2007 | 2007-55700236 | |
| 31-12-2005 | abbreviated format | 03-07-2006 | 2006-39202511 | |
| 31-12-2004 | abbreviated format | 23-09-2005 | 2005-70403364 | |
| 31-12-2003 | abbreviated format | 06-09-2004 | 2004-63404700 | |
| 31-12-2002 | abbreviated format | 28-07-2003 | 2003-53803413 | |
| 31-12-2001 | abbreviated format | 31-10-2002 | 2002-70000225 | |
| 31-12-2000 | abbreviated format | 16-08-2001 | 2001-50401922 | |
| 31-12-1999 | abbreviated format | 14-11-2000 | 2000-71005017 | |
| 31-12-1998 | abbreviated format | 02-11-1999 | 1999-56303634 | |
| 31-12-1997 | abbreviated format | 08-07-1998 | 1998-30701249 | |
| 31-12-1996 | abbreviated format | 16-07-1997 | 1997-30703910 | |
| 31-12-1995 | abbreviated format | 16-10-1996 | 1996-48102877 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 10,042 | 7,282 | 3,277 | 15,496 | 6,256 | 7,874 | 10,715 | 8,613 | 478 | - | 11,429 | 6,482 | 16,127 | 7,561 | 18,702 | -4,731 | 8,573 | 2,209 | 7,758 | ||
| 2,971 | 3,001 | 777 | 8,520 | 1,805 | 2,764 | 4,878 | 1,548 | -4,905 | - | 4,704 | 2,421 | -1,423 | 943 | 14,489 | -6,116 | 6,820 | 889 | 6,418 | ||
| 0 | 0 | 19,713 | 0 | 1,500 | 0 | 0 | 0 | 12,582 | - | 0 | 6,050 | -20,036 | -6,188 | 34,661 | 4,550 | 24,730 | 1,804 | - | ||
| -1,529 | -10,658 | -18,088 | 26,167 | -36,657 | -21,324 | 54,071 | - | - | 12,479 | 7,719 | -3,573 | 5,728 | -22,304 | 19,320 | -12,096 | 15,366 | -6,491 | - | ||
| 4,403 | -4,468 | -7,469 | 11,468 | 2,948 | 2,643 | -121 | -4,999 | -6,547 | -1,455 | -1,698 | -6,402 | -2,773 | -16,600 | -12,516 | -8,347 | 2,320 | 20,230 | 21,145 | ||
| 18.1% | 21.6% | 13.9% | 13.0% | 7.1% | 3.1% | 3.2% | 0.4% | 2.8% | 0.5% | 0.5% | -8.8% | -4.1% | 1.0% | 8.1% | 17.3% | 35.7% | 19.6% | 35.7% | ||
| 1.09 | 0.90 | 0.90 | 1.13 | 1.05 | 1.03 | 1.00 | 0.91 | 0.89 | 0.98 | 0.96 | 0.81 | 0.94 | 0.73 | 0.83 | 0.78 | 1.06 | 1.23 | 1.55 | ||
| 0.71 | 0.47 | 0.67 | 0.96 | 1.05 | 1.03 | 1.00 | 0.91 | 0.89 | 0.98 | 0.96 | 0.81 | 0.94 | 0.73 | 0.83 | 0.78 | 1.06 | 1.23 | 1.55 | ||
| 4.53 | 3.64 | 6.20 | 6.69 | 13.15 | 30.95 | 30.24 | - | 34.12 | - | - | - | - | - | 11.34 | 4.78 | 1.80 | 4.09 | 1.80 | ||
| 1.7% | 2.0% | -9.7% | 63.1% | 30.5% | 24.8% | 91.2% | - | -633.8% | - | - | - | - | - | 1.6% | -174.8% | 0.2% | 0.2% | 27.8% | ||
| 0.3% | 0.4% | -1.3% | 8.2% | 2.2% | 0.8% | 2.9% | -2.6% | -18.0% | 0.3% | 7.7% | -3.0% | -5.6% | -10.8% | 0.1% | -30.2% | 0.1% | 0.0% | 9.9% | ||
| 5.61 | 5.25 | 2.41 | 9.95 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 9 | 8 | 9 | 11 |
| full-time | 7 | 7 | 8 | 10 |
| part-time | 2 | 1 | 1 | 1 |
| in full-time equivalents | 7.7 | 7.3 | 8.2 | 10.2 |
| 7.9 | 7.9 | 9.2 | 9.7 | |
| On a permanent contract | 9 | 8 | 9 | 11 |
| Joined | 6 | 1 | 10 | 12 |
| Left | 5 | 2 | 12 | 9 |
Source: social balance sheet in the 2021 to 2024 annual accounts
Investments
fixed assets acquired| Item | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €19,713 | - |
| €2,768 | €2,768 | €1,910 | €408 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Insights on TEF
The operating result for 2024 is 61% higher than in 2023 and the highest since 2021. It is the second rise in a row, after the fall in 2022.
Debt's share of the balance-sheet total rises from 78.4% to 81.9%. Equity and debt are higher.