Equity
Equity fell by 98% in 4 years.
Equity fell by 98% in 4 years.
Every financial year from 2021 to 2025 closed with a loss. 2024 was the heaviest.
Of this, €4.7m falls due within a year.
Between 2023 and 2025, 31% of the full-time equivalents disappeared.
TENFORCE pays its suppliers 22 days later than in 2024. Customers pay 45 days later.
The dashed line is the sector median: 0.2% across 1,167 companies (NACE 62, small).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, small). It does better than 11% of them on solvency, 15% on liquidity, 24% on profitability and 47% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 1,104 companies had the same profile as TENFORCE has now. Each dot stands for 3 companies, two years later.
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of TENFORCE itself: 1.5% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,104 companies, not a prediction for TENFORCE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is insufficient, with a current ratio of 0.91 (0.99 in 2024), below 1. Short-term debt is 60.3% and cash 2% of total assets. 97% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 35 days before the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
Shares in 2 companies, Corporate Car Solutions and PDC Corp
Board & ownership| Company | ||||
|---|---|---|---|---|
| TENFORCE Leuven | €7.8m | 1.4% | 3.0% | 42 |
| ONEPOINT BELGIUM Brussels | €8.8m | 1.4% | 58.1% | 40.4 |
| FORCEA Zaventem | €8.9m | 1.6% | 10.8% | 46.1 |
| ZIMMO Leuven | €11.6m | 23.4% | 83.5% | 48.9 |
| STMicroelectronics Belgium Machelen (Brab.) | €12.0m | 4.9% | 37.7% | 62.3 |
| MSC SOFTWARE BELGIUM Mont-Saint-Guibert | €9.3m | 25.7% | 84.6% | 38.4 |
| FLOWSPARKS Ghent | €6.9m | 16.9% | 55.5% | 41.3 |
Grey: the largest companies of the sector (computer programming and consultancy (NACE 62)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as TENFORCE: computer programming (NACE 62100). They are comparable in size and age: total assets between €5.9m and €11m, founded between 1997 and 2006.
TENFORCE has been active since 2001 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €234,444 and a net result of -€99,368.
Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 19% of 1,691 sector peers (NACE 62, financial year 2025).
The computed 12-month bankruptcy probability is 1.5% (low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Higher than 19% of 1,691 companies in 2025.
Higher than 23% of 1,658 companies in 2025.
Higher than 30% of 1,673 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: top quarter · Working capital: bottom quarter · Staff: top quarter
25.8 men and 16.2 women in full-time equivalents in 2025.
Men €104,327, women €98,382 per full-time equivalent. Jobs differ, so this is not a pay gap.
In 2025, 2 people joined and 5 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||||
20/58 |
7.7m | 6.6m | 8.5m | 11.2m | 14.0m | 5.1m | 3.3m | 3.0m | 3.2m | 3.5m | 4.3m | 3.8m | 2.3m | 2.2m | 1.2m | 1.4m | 1.0m | 1.1m | 766,139 | 979,702 | |
20 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
21/28 |
3.5m | 2.4m | 2.6m | 2.2m | 2.3m | 1.1m | 1.2m | 587,802 | 275,983 | 326,265 | 251,668 | 229,040 | 208,579 | 224,918 | 262,045 | 283,874 | 208,694 | 195,428 | 175,675 | 219,091 | |
21 |
439,930 | 282,496 | 474,941 | 676,345 | 881,282 | 967,568 | 1.2m | 508,468 | 4,164 | 575 | 1,150 | 2,765 | 2,080 | 3,120 | - | - | - | 325 | 921 | 1,789 | |
22/27 |
476,899 | 600,683 | 715,113 | 129,061 | 123,746 | 50,979 | 28,934 | 39,759 | 96,171 | 141,716 | 144,647 | 137,598 | 130,586 | 163,160 | 200,111 | 239,991 | 166,640 | 138,103 | 129,286 | 171,317 | |
22 |
- | - | 0 | 2,051 | 4,102 | 6,153 | 8,865 | 1,524 | 4,328 | 7,133 | 6,631 | 7,765 | 521 | 1,043 | 1,564 | 2,085 | 1,362 | 2,724 | 4,086 | 5,448 | |
23 |
322,779 | 390,134 | 463,954 | 77,961 | 81,908 | 32,655 | 17,504 | 31,180 | 69,447 | 103,136 | 94,467 | 78,073 | 60,919 | 52,882 | 28,991 | 37,614 | 24,514 | 31,801 | 29,033 | 31,317 | |
24 |
154,119 | 210,550 | 251,159 | 49,050 | 37,736 | 12,171 | 2,565 | 7,055 | 22,396 | 31,447 | 43,548 | 51,760 | 63,018 | 96,981 | 151,175 | 200,292 | 140,764 | 103,578 | 96,167 | 134,552 | |
26 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
27 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
28 |
2.6m | 1.5m | 1.4m | 1.4m | 1.3m | 70,061 | 54,065 | 39,575 | 175,648 | 183,975 | 105,872 | 88,677 | 75,914 | 58,638 | 61,933 | 43,882 | 42,053 | 57,000 | 45,468 | 45,985 | |
280/1 |
2.4m | 1.3m | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
280 |
1.3m | 1.3m | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
281 |
1.1m | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
284/8 |
177,760 | 199,830 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
285/8 |
177,760 | 199,830 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
29/58 |
4.2m | 4.3m | 6.0m | 9.0m | 11.7m | 4.0m | 2.1m | 2.4m | 2.9m | 3.2m | 4.1m | 3.6m | 2.1m | 2.0m | 894,603 | 1.1m | 825,760 | 924,125 | 590,464 | 760,611 | |
29 |
0 | 1.2m | 434,441 | 264,512 | 329,437 | 830,812 | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | |
290 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
291 |
0 | 1.2m | 434,441 | 264,512 | 329,437 | 830,812 | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
3 |
0 | 0 | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
30/36 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
37 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
40/41 |
4.0m | 2.6m | 2.9m | 2.5m | 2.0m | 2.1m | 1.9m | 2.0m | 2.0m | 2.2m | 3.6m | 3.0m | 1.8m | 1.4m | 655,077 | 840,391 | 425,371 | 555,914 | 442,988 | 571,686 | |
40 |
3.5m | 2.2m | 2.4m | 2.2m | 1.8m | 2.1m | 1.9m | 1.9m | 2.0m | 2.2m | 3.6m | 3.0m | 1.8m | 1.4m | 654,969 | 838,547 | 423,114 | 541,752 | 442,894 | 571,686 | |
41 |
424,917 | 413,177 | 511,082 | 279,771 | 213,540 | 56,634 | 0 | 163,444 | 16,441 | 50,231 | 39,910 | - | - | 5,433 | 108 | 1,844 | 2,257 | 14,161 | 94 | - | |
50/53 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
54/58 |
151,435 | 296,100 | 2.5m | 6.2m | 9.4m | 1.0m | 194,221 | 356,329 | 874,638 | 909,745 | 439,466 | 527,063 | 122,517 | 495,210 | 229,908 | 224,994 | 377,080 | 361,051 | 140,917 | 180,677 | |
490/1 |
99,497 | 140,477 | 117,395 | 117,152 | 16,199 | 45,843 | 14,110 | 7,909 | 20,605 | 9,210 | 15,739 | 31,995 | 170,884 | 95,880 | 9,618 | 10,214 | 23,309 | 7,161 | 6,559 | 8,248 | |
| Balance sheet: equity and liabilities | |||||||||||||||||||||
10/49 |
7.7m | 6.6m | 8.5m | 11.2m | 14.0m | 5.1m | 3.3m | 3.0m | 3.2m | 3.5m | 4.3m | 3.8m | 2.3m | 2.2m | 1.2m | 1.4m | 1.0m | 1.1m | 766,139 | 979,702 | |
10/15 |
234,444 | 333,811 | 3.8m | 7.0m | 9.9m | 262,327 | 120,158 | 51,532 | 220,685 | 612,831 | 1.8m | 1.6m | 716,316 | 592,812 | 244,474 | 502,177 | 488,852 | 474,674 | 402,433 | 374,667 | |
10/11 |
10.1m | 10.1m | 10.1m | 10.1m | 10.1m | 61,500 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
10 |
92,449 | 92,449 | 92,449 | 92,449 | 92,449 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
100 |
92,449 | 92,449 | 92,449 | 92,449 | 92,449 | 61,500 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
11 |
10.0m | 10.0m | 10.0m | 10.0m | 10.0m | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
1100/10 |
10.0m | 10.0m | 10.0m | 10.0m | 10.0m | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
12 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
13 |
200,827 | 200,827 | 200,827 | 200,827 | 200,827 | 200,827 | 471,613 | 471,613 | 509,360 | 509,360 | 462,860 | 354,360 | 354,360 | 354,360 | 354,360 | 354,360 | 354,360 | 354,360 | 354,360 | 354,360 | |
130/1 |
6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1312 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
1319 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
132 |
37,500 | 37,500 | 37,500 | 37,500 | 37,500 | 37,500 | 37,500 | 154,753 | 192,500 | 192,500 | 146,000 | 37,500 | 37,500 | 37,500 | 37,500 | 37,500 | 37,500 | 37,500 | 37,500 | 37,500 | |
133 |
157,177 | 157,177 | 157,177 | 157,177 | 157,177 | 157,177 | 432,253 | 315,000 | 315,000 | 315,000 | 315,000 | 315,000 | 315,000 | 315,000 | 315,000 | 315,000 | 315,000 | 315,000 | 315,000 | 315,000 | |
14 |
-10.0m | -9.9m | -6.4m | -3.2m | -397,350 | 0 | -370,055 | -438,681 | -307,275 | 84,871 | 1.3m | 1.3m | 343,356 | 219,852 | -128,486 | 129,217 | 115,892 | 101,714 | 29,473 | 1,707 | |
15 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
19 |
- | - | - | - | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | |
16 |
- | - | - | - | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | |
160/5 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
160 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
161 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
162 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
163 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
164/5 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
168 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
17/49 |
7.5m | 6.3m | 4.7m | 4.2m | 4.2m | 4.9m | 3.2m | 2.9m | 3.0m | 2.9m | 2.6m | 2.2m | 1.6m | 1.6m | 912,174 | 857,295 | 545,601 | 644,879 | 363,707 | 605,035 | |
17 |
- | - | - | 0 | 81,051 | 994,312 | 1.0m | 1.1m | 1.1m | 1,928 | 6,554 | 11,181 | 15,808 | - | 9,609 | - | - | - | - | - | |
170/4 |
- | - | - | - | 0 | 125,000 | 1.0m | 1.1m | 1.1m | 1,928 | 6,554 | 11,181 | 15,808 | - | 9,609 | - | - | - | - | - | |
175 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
176 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
178/9 |
- | - | - | 0 | 81,051 | 869,312 | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
42/48 |
4.7m | 4.3m | 2.3m | 1.6m | 2.1m | 1.4m | 1.2m | 1.1m | 1.2m | 2.3m | 1.6m | 1.3m | 920,969 | 800,018 | 678,521 | 622,295 | 545,601 | 644,879 | 326,407 | 585,755 | |
42 |
9,689 | - | - | 0 | 953,381 | - | - | 0 | 2,076 | 4,627 | 4,627 | 4,627 | 4,627 | 9,609 | 16,015 | - | - | - | - | - | |
43 |
2.6m | 2.5m | - | - | - | 0 | 225,000 | 0 | 200,000 | - | 170,145 | 13,453 | - | - | 40,376 | 26,706 | - | - | - | - | |
430/8 |
2.6m | 2.5m | - | - | - | - | - | 0 | 200,000 | - | 170,145 | 13,453 | - | - | 40,376 | 26,706 | - | - | - | - | |
439 |
- | - | - | - | - | 0 | 225,000 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
44 |
1.0m | 989,981 | 1.2m | 730,311 | 325,497 | 418,720 | 356,983 | 361,511 | 292,888 | 286,166 | 516,625 | 397,787 | 330,689 | 280,238 | 259,169 | 215,883 | 250,755 | 378,546 | 161,722 | 293,143 | |
440/4 |
1.0m | 989,981 | 1.2m | 730,311 | 325,497 | 418,720 | 356,983 | 361,511 | 292,888 | 286,166 | 516,625 | 397,787 | 330,689 | 280,238 | 259,169 | 215,883 | 250,755 | 378,546 | 161,722 | 293,143 | |
441 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
46 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
45 |
1.0m | 812,601 | 1.1m | 911,616 | 795,066 | 633,252 | 607,256 | 739,998 | 741,599 | 832,112 | 816,287 | 851,348 | 585,654 | 510,171 | 362,961 | 379,706 | 294,847 | 266,333 | 164,684 | 292,418 | |
450/3 |
415,770 | 297,880 | 371,572 | 321,763 | 323,613 | 329,685 | 264,653 | 260,134 | 185,552 | 247,717 | 204,989 | 394,833 | 234,727 | 204,968 | 102,659 | 112,359 | 70,346 | 74,695 | 34,133 | 95,297 | |
454/9 |
592,215 | 514,721 | 746,737 | 589,854 | 471,453 | 303,567 | 342,604 | 479,864 | 556,047 | 584,395 | 611,298 | 456,514 | 350,927 | 305,203 | 260,302 | 267,347 | 224,501 | 191,638 | 130,551 | 197,121 | |
47/48 |
- | - | - | - | 0 | 329,704 | - | 0 | 0 | 1.2m | 50,000 | 650 | - | - | - | - | - | - | - | 194 | |
492/3 |
2.8m | 2.0m | 2.4m | 2.5m | 2.0m | 2.5m | 990,555 | 741,630 | 618,457 | 580,171 | 986,874 | 883,323 | 660,064 | 816,322 | 224,044 | 235,000 | - | - | 37,300 | 19,280 | |
| Income statement | |||||||||||||||||||||
70/76A |
8.4m | 7.0m | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
70 |
7.8m | 6.7m | - | - | - | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | |
72 |
306,000 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
74 |
379,753 | 300,579 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
76A |
- | - | - | - | 0 | 2,125 | 115,166 | 15,476 | 13,079 | 16,174 | 14,121 | 17,826 | 1,600 | 372 | - | 8,388 | 11,859 | 15,868 | 4,950 | 24,992 | |
9900 |
- | - | 2.5m | 2.1m | 3.7m | 3.7m | 3.5m | 3.2m | 3.7m | 4.0m | 4.6m | 4.5m | 3.0m | 2.8m | 1.7m | 1.9m | 1.6m | 1.5m | 1.6m | 1.5m | |
60/66A |
8.3m | 10.5m | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
60/61 |
- | - | - | - | - | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | |
60 |
1.7m | 1.9m | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
600/8 |
1.7m | 1.9m | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
61 |
2.0m | 2.9m | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
62 |
4.3m | 5.4m | 5.3m | 4.5m | 3.6m | 2.9m | 3.0m | 3.2m | 4.1m | 4.2m | 3.9m | 2.9m | 2.7m | 2.2m | 1.8m | 1.7m | 1.4m | 1.3m | 1.5m | 1.4m | |
630 |
279,937 | 335,179 | 410,163 | 457,479 | 395,213 | 451,653 | 423,080 | 183,734 | 78,092 | 82,315 | 79,872 | 92,180 | 101,018 | 101,172 | 95,084 | 102,267 | 76,843 | 81,092 | 91,928 | 100,247 | |
631/4 |
- | - | - | - | 0 | -4,598 | - | 0 | -46,688 | - | - | 46,688 | - | - | - | 3,800 | - | - | - | - | |
635/8 |
- | - | - | - | - | - | - | 0 | 0 | -391,146 | 391,146 | - | - | - | - | - | - | - | - | - | |
640/8 |
35,651 | 37,826 | 26,550 | 11,012 | 10,233 | 15,763 | 12,383 | 12,922 | 14,531 | 13,955 | 12,448 | 11,011 | 15,483 | 13,589 | 37,437 | 12,676 | 11,856 | 8,946 | 9,041 | 10,201 | |
649 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
66A |
- | - | - | - | 0 | 136,058 | - | 0 | 0 | - | - | - | - | - | - | - | - | - | 3,895 | - | |
9901 |
111,857 | -3.5m | -3.3m | -2.8m | -337,837 | 223,985 | 115,675 | -128,036 | -368,533 | 93,007 | 211,943 | 1.4m | 237,305 | 482,888 | -254,039 | 25,489 | 24,154 | 107,518 | 62,402 | 4,557 | |
75/76B |
65,076 | 90,355 | 152,820 | 25,626 | 8,921 | 7,218 | 13,540 | 6,537 | 5,040 | 18,398 | 2,429 | 2,969 | 1,308 | 901 | 1,946 | 26,635 | 2,993 | 1,149 | 325 | 5,063 | |
75 |
65,076 | 90,355 | 152,820 | 25,626 | 8,921 | 7,218 | 13,540 | 6,537 | 5,040 | 2,223 | 2,429 | 2,969 | 1,308 | 901 | 1,946 | 26,635 | 2,993 | 1,149 | 325 | 5,063 | |
750 |
1,983 | 32,524 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
752/9 |
63,094 | 57,831 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
76B |
- | - | - | - | - | - | - | 0 | 0 | 16,174 | - | - | - | - | - | - | - | - | - | - | |
65/66B |
265,312 | 60,036 | 39,753 | 33,814 | 65,572 | 49,808 | 48,366 | 26,341 | 21,292 | 17,586 | 10,277 | 9,256 | 9,118 | 6,050 | 5,666 | 2,163 | 3,486 | 1,697 | 5,108 | 3,045 | |
65 |
265,312 | 60,036 | 39,753 | 33,814 | 65,572 | 49,808 | 48,366 | 26,341 | 21,292 | 17,586 | 10,277 | 9,256 | 9,118 | 6,050 | 5,666 | 2,163 | 3,486 | 1,697 | 5,108 | 3,045 | |
650 |
170,576 | 47,242 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
652/9 |
94,736 | 12,795 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
66B |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
9903 |
-88,379 | -3.5m | -3.2m | -2.8m | -394,488 | 181,395 | 80,850 | -147,840 | -384,785 | 93,819 | 218,215 | 1.4m | 231,096 | 478,111 | -257,760 | 58,349 | 35,520 | 122,838 | 58,674 | 31,567 | |
67/77 |
10,989 | 6,733 | 5,634 | 1,139 | 2,862 | 39,226 | 12,224 | 21,313 | 7,360 | 65,212 | 98,928 | 512,824 | 107,591 | 129,774 | -57 | 45,024 | 21,342 | 50,596 | 30,908 | 25,540 | |
670/3 |
10,989 | 6,733 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
77 |
- | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
9904 |
-99,368 | -3.5m | -3.2m | -2.8m | -397,350 | 142,169 | 68,625 | -169,153 | -392,145 | 28,607 | 119,287 | 923,621 | 123,505 | 348,338 | -257,703 | 13,325 | 14,178 | 72,242 | 27,766 | 6,027 | |
789 |
- | - | - | - | - | 0 | 117,253 | 37,747 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
689 |
- | - | - | - | - | - | - | 0 | 0 | 46,500 | 108,500 | - | - | - | - | - | - | - | - | - | |
9905 |
-99,368 | -3.5m | -3.2m | -2.8m | -397,350 | 142,169 | 185,878 | -131,406 | -392,145 | -17,893 | 10,787 | 923,621 | 123,505 | 348,338 | -257,703 | 13,325 | 14,178 | 72,242 | 27,766 | 6,027 | |
| Appropriation of the result | |||||||||||||||||||||
9906 |
-10.0m | -9.9m | -6.4m | -3.2m | -397,350 | -227,886 | -252,802 | -438,681 | -307,275 | 1.3m | 1.3m | 1.3m | 343,356 | 219,852 | -128,486 | 129,217 | 115,892 | 101,714 | 29,473 | 16,707 | |
14P |
-9.9m | -6.4m | -3.2m | -397,350 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | - | - | - | 0 | 227,886 | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | 0 | 117,253 | 0 | - | - | - | - | - | - | - | - | - | - | - | 15,000 | |
691 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
6920 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
6921 |
- | - | - | - | - | 0 | 117,253 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | 15,000 | |
694/7 |
- | - | - | - | - | - | - | 0 | - | 1.2m | - | - | - | - | - | - | - | - | - | - | |
694 |
- | - | - | - | - | - | - | 0 | 0 | 1.2m | - | - | - | - | - | - | - | - | - | - | |
695 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
696 |
- | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
| Social balance sheet | |||||||||||||||||||||
9087 |
42 | 54.3 | 61.3 | 56.9 | 47.7 | 40 | 41.6 | 47.6 | 55.5 | 59.4 | 55 | 39.4 | 35.8 | 29.9 | 27.4 | 26.8 | 22.3 | 21.3 | 23.8 | 23.7 | |
Men (FTE)1003 |
25.8 | 34.5 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
Women (FTE)1003 |
16.2 | 19.8 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
Hours worked1013 |
69,543 | 92,189 | 103,226 | 96,233 | 81,044 | 67,820 | 69,728 | 804,138 | 93,820 | 102,552 | 95,452 | 66,463 | 61,338 | 51,030 | 45,385 | 44,603 | 35,869 | 35,571 | 38,371 | 39,929 | |
| Document | |||||||||||||||||||||
The accounts for 4 older financial years (2002-2005) were filed as documents without figures as data, scans for example.
The notes to these accounts have 64 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 2025 (PDF), filed on 28-04-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 28-04-2026 | 2026-00097562 | |
| 31-12-2024 | full format | 23-06-2025 | 2025-00178147 | |
| 31-12-2023 | abbreviated format | 29-10-2024 | 2024-00518672 | |
| 31-12-2022 | abbreviated format | 08-06-2023 | 2023-00113853 | |
| 31-12-2021 | abbreviated format | 05-07-2022 | 2022-20136919 | |
| 31-12-2020 | abbreviated format | 27-04-2021 | 2021-11400062 | |
| 31-12-2019 | abbreviated format | 29-06-2020 | 2020-23100517 | |
| 31-12-2018 | abbreviated format | 01-07-2019 | 2019-26100056 | |
| 31-12-2017 | abbreviated format | 06-07-2018 | 2018-32100546 | |
| 31-12-2016 | abbreviated format | 28-07-2017 | 2017-38900473 | |
| 31-12-2015 | abbreviated format | 28-07-2016 | 2016-38600379 | |
| 31-12-2014 | abbreviated format | 29-07-2015 | 2015-36500485 | |
| 31-12-2013 | abbreviated format | 28-11-2014 | 2014-68300296 | |
| 31-12-2012 | abbreviated format | 27-06-2013 | 2013-23800051 | |
| 31-12-2011 | abbreviated format | 11-07-2012 | 2012-28600159 | |
| 31-12-2010 | abbreviated format | 27-06-2011 | 2011-23500221 | |
| 31-12-2009 | abbreviated format | 29-06-2010 | 2010-24400476 | |
| 31-12-2008 | abbreviated format | 28-07-2009 | 2009-48400047 | |
| 31-12-2007 | abbreviated format | 24-09-2008 | 2008-74400165 | |
| 31-12-2006 | abbreviated format | 02-07-2007 | 2007-32400267 | |
| 31-12-2005 | abbreviated format | 06-07-2006 | 2006-42200592 | |
| 31-12-2004 | abbreviated format | 07-07-2005 | 2005-44201490 | |
| 31-12-2003 | abbreviated format | 05-07-2004 | 2004-40003193 | |
| 31-12-2002 | abbreviated format | 10-07-2003 | 2003-43002416 |
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 2 | €2,442 | €2,524 |
| 2022 | 1 | €386 | €304 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 391,794 | -3.2m | -2.9m | -2.4m | 57,376 | 675,638 | 538,755 | 55,698 | -290,442 | 175,322 | 291,815 | 1.5m | 338,324 | 584,060 | -158,955 | 127,756 | 100,997 | 188,610 | 154,330 | 104,804 | ||
| 180,570 | -3.2m | -2.8m | -2.4m | -2,137 | 593,822 | 491,705 | 14,581 | -314,054 | 110,921 | 199,159 | 1.0m | 224,523 | 449,510 | -162,619 | 115,592 | 91,021 | 153,334 | 119,694 | 106,274 | ||
| 318,567 | 56,702 | 807,586 | 286,177 | 1.7m | 469,770 | 1.1m | 676,195 | 107,649 | 156,911 | 85,306 | 120,830 | 143,318 | 67,341 | 76,313 | 177,447 | 105,055 | 100,845 | 52,924 | 89,062 | ||
| -144,665 | -2.2m | -3.7m | -3.2m | 8.3m | 842,176 | -162,108 | -518,309 | -35,108 | 470,280 | -87,598 | 404,547 | -372,693 | 265,302 | 4,914 | -152,086 | 16,029 | 220,134 | -39,760 | - | ||
| -437,441 | -44,451 | 3.7m | 7.4m | 9.6m | 2.7m | 902,029 | 1.3m | 1.7m | 868,664 | 2.5m | 2.3m | 1.2m | 1.2m | 216,083 | 453,303 | 280,158 | 279,246 | 264,057 | 174,856 | ||
| 1.4% | -53.1% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||
| 3.0% | 5.0% | 45.0% | 62.7% | 70.2% | 5.1% | 3.6% | 1.7% | 6.9% | 17.5% | 40.8% | 43.1% | 31.0% | 26.8% | 21.1% | 36.9% | 47.3% | 42.4% | 52.5% | 38.2% | ||
| 0.91 | 0.99 | 2.61 | 5.51 | 5.64 | 2.92 | 1.76 | 2.19 | 2.34 | 1.38 | 2.61 | 2.82 | 2.29 | 2.48 | 1.32 | 1.73 | 1.51 | 1.43 | 1.81 | 1.30 | ||
| 31.96 | 18.84 | 1.22 | 0.60 | 0.42 | 18.53 | 26.67 | 57.11 | 13.39 | 4.70 | 1.45 | 1.32 | 2.23 | 2.73 | 3.73 | 1.71 | 1.12 | 1.36 | 0.90 | 1.61 | ||
| -42.4% | - | -82.7% | -40.3% | -4.0% | 54.2% | 57.1% | -328.2% | -177.7% | 4.7% | 6.8% | 56.3% | 17.2% | 58.8% | -105.4% | 2.7% | 2.9% | 15.2% | 6.9% | 1.6% | ||
| -1.3% | -53.1% | -37.2% | -25.3% | -2.8% | 2.8% | 2.1% | -5.6% | -12.3% | 0.8% | 2.8% | 24.3% | 5.3% | 15.8% | -22.3% | 1.0% | 1.4% | 6.5% | 3.6% | 0.6% | ||
| 2.30 | -67.80 | -72.39 | -70.07 | 0.88 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||
| 167 days | 122 days | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||
| 98 days | 76 days | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
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.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 43 | 46 | 62 | 62 | 54 |
| full-time | 36 | 42 | 57 | 56 | 51 |
| part-time | 7 | 4 | 5 | 6 | 3 |
| in full-time equivalents | 41.6 | 45 | 60.9 | 60.3 | 53.1 |
| 42 | 54.3 | 61.3 | 56.9 | 47.7 | |
| On a permanent contract | 43 | 46 | 62 | 62 | 54 |
| Joined | 2 | 4 | 6 | 15 | 15 |
| Left | 5 | 20 | 6 | 7 | 3 |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| €1.5m | €1.5m | €1.4m | €1.4m | €1.4m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €12,567 | €41,702 | €700,628 | €60,571 | €110,554 |
| Intangible fixed assets | €306,000 | - | €106,959 | €198,962 | €271,139 |
| Financial fixed assets | - | €15,000 | - | €26,644 | €1.3m |
| €279,937 | €335,179 | €410,163 | €457,479 | €395,213 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Fee for the audit | €5,662 | €5,500 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
The operating result for 2025 is a profit of €111,857, after a loss of €3.5m in 2024. It is the highest result since 2020.
Debt's share of the balance-sheet total rises from 95.0% to 97.0%. Equity is lower and debt is higher.
2. Indien er een collegiaal bestuursorgaan is, wordt de vennootschap jegens derden en in rechte geldig vertegenwoordigd door één gedelegeerd bestuurder.
5. Wanneer de vennootschap optreedt als bestuurder van andere vennootschappen, wordt de vennootschap enkel rechtsgeldig vertegenwoordigd door de vaste vertegenwoordiger. Organisatie en bijeenroeping De gewone algemene vergadering wordt jaarlijks gehouden op tweede donderdag van de maand juni om 20.00 uur. Indien die dag een wettelijke feestdag is, heeft de vergadering plaats op de eerstvolgende werkdag op hetzelfde uur. Toelating tot de algemene vergadering Om toegelaten te worden tot de algemene vergadering en, voor de aandeelhouders, om er het stemrecht uit te oefenen, dient een effectenhouder te voldoen aan de volgende voorwaarden:
Source: parent in its own accounts, lists of holdings in the owners' accounts
Source: list of holdings in its own 2025 accounts. The amounts are in that list and come from the holdings' accounts at 31-12-2025, in their own currency.
| De Vlaamse Radio- en Televisieomroeporganisatie
establishment since 01-01-1998 · founded in 1991 |
1,930 FTE (2025) 0244.142.664 |
| DEN HOORN
registered office since 27-11-2007 · founded in 2007 |
total assets €27.2m (2025) 0893.884.296 |
| Flying Services
establishment since 01-10-2004 · founded in 2004 · group DOMO CHEMICALS HOLDING |
204 FTE (2025) 0867.376.374 |
| SDL BELGIUM
registered office since 21-08-2002 · founded in 2001 |
27 FTE (2025) 0475.302.077 |
| Zuidoever
registered office since 14-05-2024 · founded in 2024 |
total assets €13.1m (2025) 1009.336.171 |
| MICLEDI MICRODISPLAYS
registered office since 09-10-2019 · founded in 2019 |
2.9 FTE (2024) 0735.885.451 |
| InvestSuite
registered office since 14-03-2018 · founded in 2018 |
8.5 FTE (2025) 0692.527.639 |
| Ingenieurs-, ontwerp-, en coördinatiebureau STABO
establishment since 01-03-1972 · founded in 1972 · group MAN@THEWHEEL |
36 FTE (2025) 0412.122.316 |
| SYLVESTRA
establishment since 01-01-1976 · founded in 1976 |
total assets €6.1m (2026) 0416.012.214 |
| Stadsmakersfonds
registered office since 21-12-2020 · founded in 2020 |
total assets €5.8m (2025) 0760.317.177 |
Source for every holding own accounts 2025
The network lets you explore the ties of TENFORCE.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Sluisstraat 79 registered office 3000 Leuven | 01-06-2001 | 2.100.310.910 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 24062A0176/00P000 | 1,959 m² | - | - |
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