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TF CO

Active
Public limited companyfounded 200520 yrs activeRue Jules Bordet 65, 7180 Seneffe, BelgiumKBO/BCE: BE 0877.890.580
Summary

The computed 12-month bankruptcy probability of TF CO is 3.4% (moderate). The 2025 annual accounts show equity of €910,222 and a net result of €75,437. Equity remains stable across the filed fiscal years (±0.9% per year). Its solvency ranks better than 16% of 647 sector peers (fiscal year 2025). The company has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals.

Checked score

Score 2025
Axes · tick = 2024
Profitability57▲+9
Solvency35=
Growth70▲+28
Track record100
Bankruptcy probability, 12 months
3.4% Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.47 against 0.5 in 2024; short-term debt: 65.2% and cash: 8.2% of total assets), and 89.9% of the assets are financed with debt.
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Signals

Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Multiple establishment units
Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.
KBO · establishment units
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Manufacture of food products (NACE 10)
about 60% more bankruptcies
← fewer bankruptcies more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 20 years 0 30 y
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
10.1%
Return on assets
0.8%
Age of the figures
15 mo
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 647 sector peers (2025).
NBB · sector comparison
Position among 647 sector peers
Solvency
better than 16%
← weakest strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 15-01-2026, 16 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
16 d early
2024
49 d early
2023
6 d early
2022
8 d early
2021
5 d early
2020
3 d early
2019
52 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 20 days before the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven months
Position in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 14 December 2005, TF CO was incorporated.1 In 2009 the registered office moved to Seneffe.2 A capital increase in 2022 brought the capital to EUR 800,000.3 Of the 4 current board members, JBO has served longest, since 2016.4 Revenue went from EUR 19 million in 2019 to EUR 27 million in 2025 and headcount from 141 to 163 full-time equivalents.5

  1. 1Crossroads Bank for Enterprises
  2. 2Belgian State Gazette, 03-08-2009
  3. 3Belgian State Gazette, 21-01-2022
  4. 4Belgian State Gazette, 07-12-2022
  5. 5National Bank, annual accounts 2019 and 2025

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Financials · fiscal year 2025, full schema

Turnover
€26.9m▼ 2.6%
2024 · €27.7m
EBIT margin
0.8%▲ 1.3pp
2024 · -0.5%
Net result
€75,437
2024 · -€221,708
Working capital
-€3.1m▼ 16.8%
2024 · -€2.7m
Trend over the years

Click a name to add, emphasise or remove a line.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20212022202320242025
Turnover€18.4m▲ 7.3%€24.8m▲ 34.6%€27.7m▲ 11.5%€27.7m=€26.9m▼ 2.6%
Operating result-€538,591-€19,070▲ 96.5%€573,207-€131,084€217,038
Net result-€663,092€15,626€404,125▲ 2,486%-€221,708€75,437
EBIT margin-2.9%▼ 3.3pp-0.1%▲ 2.8pp2.1%▲ 2.1pp-0.5%▼ 2.5pp0.8%▲ 1.3pp
Equity€144,802▼ 83.3%€802,305▲ 454%€1.1m▲ 42.8%€874,826▼ 23.7%€910,222▲ 4.0%
Total assets€7.5m▼ 26.4%€9.3m▲ 23.8%€9.2m▼ 1.9%€9.2m▲ 0.4%€9.0m▼ 2.0%
Debt€7.4m▼ 21.1%€8.5m▲ 15.3%€8.0m▼ 6.1%€8.3m▲ 3.9%€8.0m▼ 3.8%
Working capital-€2.0m▼ 43.5%-€459,908▲ 76.7%-€1.5m▼ 229%-€2.7m▼ 77.5%-€3.1m▼ 16.8%
Staff (FTE)160.3▼ 1.7%176.8▲ 10.3%188.2▲ 6.4%180.1▼ 4.3%162.8▼ 9.6%
Why a figure moved sharply
  • 2022 Equity +454% on 2021. Capital increase of €700,000 (Official Gazette 21-01-2022).
Result per fiscal year
Operating resultNet result
-€1.0m-€500,000€0€500,000Operating result 2021: -€538,591-€538,591Net result 2021: -€663,092-€663,092Operating result 2022: -€19,070-€19,070Net result 2022: €15,626€15,626Operating result 2023: €573,207€573,207Net result 2023: €404,125€404,125Operating result 2024: -€131,084-€131,084Net result 2024: -€221,708-€221,708Operating result 2025: €217,038€217,038Net result 2025: €75,437€75,43720212022202320242025-€400,000-€200,000€0€200,000€400,000€600,000Operating result 2023: €573,207€573,000Net result 2023: €404,125€404,000Operating result 2024: -€131,084-€131,000Net result 2024: -€221,708-€222,000Operating result 2025: €217,038€217,000Net result 2025: €75,437€75,400202320242025
The operating result returns to profit in 2025: €217,038 after a loss of €131,084 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.0m
Fixed assets €6.3m ▼ 4.0%
Current assets €2.7m ▲ 2.8%
Equity and liabilities €9.0m
Equity €910,222 ▲ 4.0%
Provisions €91,295
Debt €8.0m ▼ 3.8%
Debt's share of the balance-sheet total falls from 90.5% to 88.9%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€1.1m▲
2024 · €846,528
Cash flow
€984,563▲
2024 · €755,904
Current ratio
0.47▼
2024 · 0.50
Quick ratio
0.32▼
2024 · 0.35
Debt to equity
8.80▼
2024 · 9.51
ROE
8.3%▲
2024 · -25.3%
ROA
0.8%▲
2024 · -2.4%
Interest coverage
5.68▲
2024 · 4.73
Debt ≤ 1 year
€5.9m▲
2024 · €5.3m
Debt > 1 year
€2.0m▼
2024 · €2.8m
Income taxes
€99,790▲
2024 · €1,293
Staff costs
€9.3m▼
2024 · €10.2m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 719 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 97% are still going.

  • Medium-sized
  • 20 years or older
  • solvency 10 to 30%
  • a profit under 5% of the balance sheet
0.8% went bankrupt
1.4% stopped otherwise
97% still going

A further 0.6% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a higher bankruptcy probability: 3.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.4%
3 0.5% 0.5%
4 0.6% 0.7%
5 0.8% 0.9%
6 1.2% 1.3%
7 1.5% 1.6%
8 1.7% 1.7%
9 2.7% 2.8%
10 5.3% 5.7%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 719 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 90 lines
Balance sheet Code20242025
Assets
Total assets20/58€9.2m€9.0m▼
Fixed assets21/28€6.5m€6.3m▼
Intangible fixed assets21€119,625€33,648▼
Tangible fixed assets22/27€4.5m€3.8m▼
Land and buildings22€2.2m€1.9m▼
Plant, machinery and equipment23€270,567€219,459▼
Furniture and vehicles24€57,361€48,992▼
Leasing and similar rights25€77,847€141,205▲
Other tangible fixed assets26€2.0m€1.4m▼
Assets under construction and advance payments27-€98,633
Financial fixed assets28€1.9m€2.5m▲
Affiliated companies280/1€1.7m€2.3m▲
Amounts receivable281€1.7m€2.3m▲
Other financial fixed assets284/8€168,137€168,225▲
Amounts receivable and cash guarantees285/8€168,137€168,225▲
Current assets29/58€2.7m€2.7m▲
Stocks and contracts in progress3€786,630€850,454▲
Stocks30/36€786,630€850,454▲
Raw materials and consumables30/31€545,508€549,531▲
Work in progress32€56,103€81,122▲
Finished goods33€53,070€103,267▲
Goods purchased for resale34€131,949€116,533▼
Amounts receivable within one year40/41€900,840€1.1m▲
Trade receivables40€724,825€661,011▼
Other amounts receivable41€176,015€399,254▲
Cash at bank and in hand54/58€738,774€742,623▲
Deferred charges and accrued income490/1€238,644€84,971▼
Equity and liabilities
Total equity and liabilities10/49€9.2m€9.0m▼
Equity10/15€874,826€910,222▲
Contributions10/11€800,000€800,000=
Capital10€800,000€800,000=
Issued capital100€800,000€800,000=
Reserves13€36,689€36,689=
Non-distributable reserves130/1€10,000€10,000=
Legal reserve130€10,000€10,000=
Tax-exempt reserves132€26,689€26,689=
Profit (loss) carried forward14-€435,641-€360,203▲
Investment grants15€473,778€433,737▼
Provisions and deferred taxes16-€91,295
Provisions for liabilities and charges160/5-€91,295
Pensions and similar obligations160-€91,295
Amounts payable17/49€8.3m€8.0m▼
Amounts payable after more than one year17€2.8m€2.0m▼
Financial debts170/4€2.8m€2.0m▼
Subordinated loans170€710,356€405,186▼
Leasing and similar obligations172€34,233€109,588▲
Credit institutions173€2.1m€1.5m▼
Amounts payable within one year42/48€5.3m€5.9m▲
Current portion of amounts payable after more than one year42€1.6m€871,680▼
Financial debts43€450,000€1.5m▲
Credit institutions430/8€450,000€1.5m▲
Trade debts44€1.8m€2.0m▲
Suppliers440/4€1.8m€2.0m▲
Advances received on contracts in progress46€91,256€88,867▼
Taxes, remuneration and social security45€1.4m€1.4m▲
Taxes450/3€11,347€157,709▲
Remuneration and social security454/9€1.3m€1.2m▼
Accrued charges and deferred income492/3€176,530€147,403▼
Income statement Code20242025
Operating income70/76A€28.0m€27.3m▼
Turnover70€27.7m€26.9m▼
Other operating income74€299,689€332,247▲
Non-recurring operating income76A€31,136€18,760▼
Operating charges60/66A€28.1m€27.1m▼
Goods for resale, raw materials and consumables60€6.8m€7.1m▲
Purchases600/8€6.7m€7.2m▲
Change in stocks: decrease (increase)609€78,185-€73,867▼
Services and other goods61€10.1m€9.3m▼
Remuneration, social security and pensions62€10.2m€9.3m▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€977,612€909,125▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€26,544€1,691▲
Other operating charges640/8€34,245€40,386▲
Non-recurring operating charges66A€35,885€425,809▲
Operating profit (loss)9901-€131,084€217,038▲
Financial income75/76B€98,705€156,864▲
Recurring financial income75€98,705€156,864▲
Income from financial fixed assets750€48,116€91,591▲
Other financial income752/9€50,589€65,274▲
Financial charges65/66B€188,037€198,676▲
Recurring financial charges65€188,037€198,676▲
Debt charges650€179,046€198,191▲
Other financial charges652/9€8,991€485▼
Profit (loss) for the period before taxes9903-€220,416€175,227▲
Income taxes67/77€1,293€99,790▲
Taxes670/3€1,293€99,868▲
Tax adjustments and reversals of tax provisions77-€78
Profit (loss) for the period9904-€221,708€75,437▲
Profit (loss) for the period to be appropriated9905-€221,708€75,437▲
Appropriation of the result
Profit (loss) to be appropriated9906-€435,641-€360,203▲
Profit (loss) brought forward from the previous period14P-€213,932-€435,641▼
Social balance
Average headcount (FTE)9087180.1162.8▼

The notes to these accounts (105 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Operating income70/76A-€25.2m€28.0m€28.0m€27.3m▼ 2.5%
Turnover70€18.4m€24.8m€27.7m€27.7m€26.9m▼ 2.6%
Other operating income74-€398,238€301,845€299,689€332,247▲ 10.9%
Non-recurring operating income76A-€12,088-€31,136€18,760▼ 39.7%
Operating charges60/66A-€25.2m€27.4m€28.1m€27.1m▼ 3.8%
Goods for resale, raw materials and consumables60-€6.5m€7.1m€6.8m€7.1m▲ 4.8%
Purchases600/8-€6.8m€7.2m€6.7m€7.2m▲ 7.1%
Change in stocks: decrease (increase)609--€263,865-€89,514€78,185-€73,867▼ 194%
Services and other goods61-€10.1m€9.8m€10.1m€9.3m▼ 7.6%
Remuneration, social security and pensions62-€7.7m€9.4m€10.2m€9.3m▼ 9.5%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€917,642€926,845€960,177€977,612€909,125▼ 7.0%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€7,292€30,621-€26,544€1,691▲ 106%
Other operating charges640/8-€39,493€59,881€34,245€40,386▲ 17.9%
Non-recurring operating charges66A-€9,005€109,938€35,885€425,809▲ 1,087%
Operating profit (loss)9901-€538,591-€19,070€573,207-€131,084€217,038▲ 266%
Financial income75/76B-€166,011€105,547€98,705€156,864▲ 58.9%
Recurring financial income75€67,410€160,128€105,547€98,705€156,864▲ 58.9%
Income from financial fixed assets750-€14,943€44,792€48,116€91,591▲ 90.4%
Other financial income752/9-€145,185€60,755€50,589€65,274▲ 29.0%
Non-recurring financial income76B-€5,882----
Financial charges65/66B-€128,569€153,081€188,037€198,676▲ 5.7%
Recurring financial charges65€189,284€128,231€153,081€188,037€198,676▲ 5.7%
Debt charges650€103,857€128,226€143,321€179,046€198,191▲ 10.7%
Other financial charges652/9-€5€9,760€8,991€485▼ 94.6%
Non-recurring financial charges66B-€338----
Profit (loss) for the period before taxes9903-€661,035€18,372€525,672-€220,416€175,227▲ 179%
Income taxes67/77€2,057€2,746€121,548€1,293€99,790▲ 7,620%
Taxes670/3-€2,746€121,548€1,293€99,868▲ 7,626%
Tax adjustments and reversals of tax provisions77-€0--€78-
Profit (loss) for the period9904-€663,092€15,626€404,125-€221,708€75,437▲ 134%
Profit (loss) for the period to be appropriated9905-€663,092€15,626€404,125-€221,708€75,437▲ 134%
Line20212022202320242025Change
Assets
Total assets20/58€7.5m€9.3m€9.2m€9.2m€9.0m▼ 2.0%
Fixed assets21/28€5.4m€5.5m€6.2m€6.5m€6.3m▼ 4.0%
Intangible fixed assets21€267,287€208,713€114,597€119,625€33,648▼ 71.9%
Tangible fixed assets22/27€5.0m€5.2m€4.9m€4.5m€3.8m▼ 17.1%
Land and buildings22-€2.7m€2.5m€2.2m€1.9m▼ 12.7%
Plant, machinery and equipment23-€248,047€333,065€270,567€219,459▼ 18.9%
Furniture and vehicles24-€72,408€79,198€57,361€48,992▼ 14.6%
Leasing and similar rights25-€65,494€70,206€77,847€141,205▲ 81.4%
Other tangible fixed assets26-€2.0m€1.9m€2.0m€1.4m▼ 30.8%
Assets under construction and advance payments27-€70,684€7,917-€98,633-
Financial fixed assets28€134,701€145,803€1.2m€1.9m€2.5m▲ 32.2%
Affiliated companies280/1--€1.1m€1.7m€2.3m▲ 35.3%
Amounts receivable281--€1.1m€1.7m€2.3m▲ 35.3%
Other financial fixed assets284/8-€145,803€156,101€168,137€168,225▲ 0.1%
Shares284-€100----
Amounts receivable and cash guarantees285/8-€145,703€156,101€168,137€168,225▲ 0.1%
Current assets29/58€2.1m€3.8m€2.9m€2.7m€2.7m▲ 2.8%
Stocks and contracts in progress3€521,960€785,825€864,815€786,630€850,454▲ 8.1%
Stocks30/36-€785,825€864,815€786,630€850,454▲ 8.1%
Raw materials and consumables30/31-€483,462€575,133€545,508€549,531▲ 0.7%
Work in progress32-€52,354€51,175€56,103€81,122▲ 44.6%
Finished goods33-€122,510€102,951€53,070€103,267▲ 94.6%
Goods purchased for resale34-€127,499€135,557€131,949€116,533▼ 11.7%
Amounts receivable within one year40/41€1.0m€2.2m€849,952€900,840€1.1m▲ 17.7%
Trade receivables40-€1.1m€672,102€724,825€661,011▼ 8.8%
Other amounts receivable41-€1.1m€177,850€176,015€399,254▲ 127%
Cash at bank and in hand54/58€523,055€672,425€1.0m€738,774€742,623▲ 0.5%
Deferred charges and accrued income490/1-€137,381€182,671€238,644€84,971▼ 64.4%
Equity and liabilities
Total equity and liabilities10/49€7.5m€9.3m€9.2m€9.2m€9.0m▼ 2.0%
Equity10/15€144,802€802,305€1.1m€874,826€910,222▲ 4.0%
Contributions10/11€100,000€800,000€800,000€800,000€800,000=
Capital10-€800,000€800,000€800,000€800,000=
Issued capital100-€800,000€800,000€800,000€800,000=
Reserves13€36,689€36,689€36,689€36,689€36,689=
Non-distributable reserves130/1-€10,000€10,000€10,000€10,000=
Legal reserve130-€10,000€10,000€10,000€10,000=
Tax-exempt reserves132-€26,689€26,689€26,689€26,689=
Profit (loss) carried forward14-€633,683-€618,057-€213,932-€435,641-€360,203▲ 17.3%
Investment grants15-€583,673€523,074€473,778€433,737▼ 8.5%
Provisions and deferred taxes16----€91,295-
Provisions for liabilities and charges160/5----€91,295-
Pensions and similar obligations160----€91,295-
Amounts payable17/49€7.4m€8.5m€8.0m€8.3m€8.0m▼ 3.8%
Amounts payable after more than one year17€3.1m€4.1m€3.4m€2.8m€2.0m▼ 28.9%
Financial debts170/4-€4.1m€3.4m€2.8m€2.0m▼ 28.9%
Subordinated loans170-€1.0m€646,145€710,356€405,186▼ 43.0%
Leasing and similar obligations172-€52,246€53,209€34,233€109,588▲ 220%
Credit institutions173-€3.0m€2.7m€2.1m€1.5m▼ 28.1%
Other loans174-€0----
Amounts payable within one year42/48€4.1m€4.3m€4.4m€5.3m€5.9m▲ 9.8%
Current portion of amounts payable after more than one year42-€1.1m€1.0m€1.6m€871,680▼ 45.9%
Financial debts43-€0-€450,000€1.5m▲ 236%
Credit institutions430/8-€0-€450,000€1.5m▲ 236%
Trade debts44€1.7m€2.2m€1.9m€1.8m€2.0m▲ 10.3%
Suppliers440/4-€2.2m€1.9m€1.8m€2.0m▲ 10.3%
Advances received on contracts in progress46--€101,655€91,256€88,867▼ 2.6%
Taxes, remuneration and social security45-€1.0m€1.4m€1.4m€1.4m▲ 1.1%
Taxes450/3-€81,015€110,256€11,347€157,709▲ 1,290%
Remuneration and social security454/9-€924,965€1.3m€1.3m€1.2m▼ 9.8%
Accrued charges and deferred income492/3-€170,223€230,736€176,530€147,403▼ 16.5%
Line20212022202320242025Change
Profit (loss) for the period9904-€663,092€15,626€404,125-€221,708€75,437▲ 134%
+ Depreciation and write-downs630€917,642€926,845€960,177€977,612€909,125▼ 7.0%
Operating cash flow (approximation)€254,550€942,471€1.4m€755,904€984,563▲ 30.2%
Investment in fixed assets (approximation)--€1.0m-€1.7m-€1.3m-€649,404▲ 48.9%
Change in cash-€149,370€349,004-€282,656€3,849▲ 101%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-01-2027
2026
21-01
State Gazette act Appointment: Olivier De Reu De Bolle (director)
Reappointment: Audit Van Goolen (statutory auditor) · Power of attorney10 facts ▸
  • Board meeting, 06-11-2025
  • General meeting, 25-12-2025
  • Director appointment, Olivier De Reu De Bolle (director)
  • Director appointment, Olivier De Reu De Bolle (director)
  • Board composition, JBO SRL (director)
  • Board composition, GRIMOBEL SA (director)
  • Board composition, GUARDIOLA CAPITAL SA (director)
  • Board composition, Olivier De Reu De Bolle (director)
  • Auditor reappointment, Audit Van Goolen
  • Power of attorney, Harvest Avocats
15-01
NBB filing Annual accounts filed
fiscal year 2025 · full schema
2025
30-06
Financial Back to profitnet €75,437
Net result €75,437 after one loss-making year.
19-05
State Gazette act Resignation: Philing SA (director)
Permanent representatives: Marc Van Doornick and Frederic Markiewicz · Appointment: Guardiola Capital SA (director)5 facts ▸
  • General meeting, 20-01-2025
  • Director resignation, Philing SA (director)
  • Permanent representative, Marc Van Doornick
  • Director appointment, Guardiola Capital SA (director)
  • Permanent representative, Frederic Markiewicz
2024
13-12
NBB filing Annual accounts filed
fiscal year 2024 · full schema
25-01
NBB filing Annual accounts filed
fiscal year 2023 · full schema
2023
23-08
State Gazette act Reappointment: Van Goolen Geert (statutory auditor)
Mandate compensation · Approval4 facts ▸
  • General meeting, 23-12-2022
  • Auditor reappointment, Van Goolen Geert (statutory auditor)
  • Mandate compensation, Van Goolen Geert
  • Approval, procès-verbal et ses annexes
30-06
Financial Highest result since 2019net €404,125 ▲2,486%
Operating result €573,207, net result €404,125, both a record.
30-06
Financial Equity above €1mEq €1.1m ▲42.8%
2 profitable years in a row build equity to €1.1m.
30-03
State Gazette act Resignation: CJV SA (director)
Power of attorney3 facts ▸
  • Board meeting, 06-02-2023
  • Director resignation, CJV SA (director)
  • Power of attorney, Fidiaz NV
23-01
NBB filing Annual accounts filed
fiscal year 2022 · full schema
2022
07-12
State Gazette act Resignation: SA IMBC (director)
Reappointments: JBO SRL, Guardiola Invest SA and 2 others · Permanent representatives: Jean Baisier, Marc Van Doornick and 3 others · Appointment: JBO SRL (managing director)14 facts ▸
  • General meeting, 13-10-2022
  • Director resignation, SA IMBC (director)
  • Director discharge, SA IMBC
  • Director reappointment, JBO SRL (director)
  • Director reappointment, Guardiola Invest SA (director)
  • Director reappointment, CJV SA (director)
  • Director reappointment, Grimobel SA (director)
  • Permanent representative, Jean Baisier
  • Permanent representative, Marc Van Doornick
  • Permanent representative, Ludovic Hernould
  • Permanent representative, Joseph Linkens
  • Board meeting, 13-10-2022
  • +2 further facts in this act
Show earlier events
30-06
Financial Back to profitnet €15,626
Net result €15,626 after one loss-making year.
30-06
Financial Equity above €500,000Eq €802,305 ▲454%
Equity rises from €144,802 to €802,305.
26-01
NBB filing Annual accounts filed
fiscal year 2021 · full schema
21-01
State Gazette act Capital & shares · Statutes amendment
Capital increase · Capital · Power of attorney5 facts ▸
  • General meeting, 23-12-2021
  • Capital increase, €700.000
  • Capital, €800.000
  • Statutes amendment
  • Power of attorney, TF CO
2021
30-06
Financial Weakest financial yearnet -€663,092
Net result drops to -€663,092, the lowest in the series; recovery starts the following year.
28-01
NBB filing Annual accounts filed
fiscal year 2020 · full schema
2020
28-07
State Gazette act Registered office
Registered-office move2 facts ▸
  • General meeting, 11-02-2020
  • Registered-office move, Rue Jules Bordet, 65-7180 Seneffe
20-02
State Gazette act Reappointment: Geert Van Goolen (statutory auditor)
2 facts ▸
  • General meeting, 18-11-2019
  • Auditor reappointment, Geert Van Goolen (statutory auditor)
2019
10-12
NBB filing Annual accounts filed
fiscal year 2019 · full schema
14-01
NBB filing Annual accounts filed
fiscal year 2018 · full schema
2018
04-07
State Gazette act Appointment: Joseph Linkens (director)
2 facts ▸
  • General meeting, 12-05-2017
  • Director appointment, Joseph Linkens (director)
16-05
State Gazette act Resignation: Joseph Linkens (director)
Appointment: GRIMOBEL SA (director) · Permanent representative: Joseph Linkens · Director discharge6 facts ▸
  • General meeting, 19-02-2018
  • Director resignation, Joseph Linkens (director)
  • Director discharge, Joseph Linkens
  • Director appointment, GRIMOBEL SA (director)
  • Permanent representative, Joseph Linkens
  • Mandate compensation, GRIMOBEL SA
08-01
NBB filing Annual accounts filed
fiscal year 2017 · full schema
2017
20-01
State Gazette act Reappointment: Geert Van Goolen (statutory auditor)
2 facts ▸
  • General meeting, 21/11/2016
  • Auditor reappointment, Geert Van Goolen (statutory auditor)
2016
23-12
NBB filing Annual accounts filed
fiscal year 2016 · full schema
14-11
State Gazette act Resignation: Olivier Laffut (manager)
Reappointment: JBO (manager) · Permanent representatives: Jean Baisler, Ludovic Hernould and 2 others · Appointments: CJV, Guardiola Invest and IMBC Convergence14 facts ▸
  • General meeting, 17-10-2016
  • Director resignation, Olivier Laffut (manager)
  • Director reappointment, JBO (manager)
  • Permanent representative, Jean Baisler
  • Director appointment, CJV (manager)
  • Permanent representative, Ludovic Hernould
  • Director appointment, Guardiola Invest (manager)
  • Permanent representative, Marc Van Doornick
  • Director appointment, IMBC Convergence (manager)
  • Permanent representative, Géraldine Miroir
  • Mandate term, à l'issue de l'assemblée générale ordinaire qui sera appelée à statuer sur l'approbation des comptes de l'exercice social se clôturant le 30 juin 2021
  • Mandate term, à l'issue de l'assemblée générale ordinaire qui sera appelée à statuer sur l'approbation des comptes de l'exercice social se clôturant le 30 juin 2021
  • +2 further facts in this act
14-11
State Gazette act Resignations: JBO, C.J.V. and 2 others
Appointments: JBO, C.J.V. and 2 others · Permanent representatives: Jean BAISIER, Ludovic HERNOULD and 2 others · Legal-form conversion25 facts ▸
  • General meeting, 17-10-2016
  • Legal-form conversion, Société privée à responsabilité limitée -> Société anonyme
  • Capital, €100.000
  • Net-asset statement, 31-07-2016
  • Director resignation, JBO (manager)
  • Director resignation, C.J.V. (manager)
  • Director resignation, GUARDIOLA INVEST (manager)
  • Director resignation, IMBC CONVERGENCE (manager)
  • Director discharge, JBO
  • Director discharge, C.J.V.
  • Director discharge, GUARDIOLA INVEST
  • Director discharge, IMBC CONVERGENCE
  • +13 further facts in this act
03-11
State Gazette act Resignations & appointments
Power of attorney · Real estate4 facts ▸
  • Board meeting, 17-10-2016
  • General meeting, 17-10-2016
  • Power of attorney, Ludovic Hernould
  • Real estate, droit d'usufruit portant sur un rez-de-chaussée et les parties communes dans un immeuble à appartements à deux étages sis leperstraat 20-22 (Anvers)
2014
15-07
State Gazette act Appointment: Geert Van Goolen (statutory auditor)
2 facts ▸
  • General meeting, 23-04-2014
  • Auditor appointment, Geert Van Goolen (statutory auditor)
2009
03-08
State Gazette act Appointment: JBO (co gérant)
Permanent representative: Jean Baisier · Registered-office move · Mandate compensation8 facts ▸
  • Board meeting, 30-06-2009
  • General meeting, 30-06-2009
  • Registered-office move, rue Jules Bordet, Zone C 167 F. 7180 Seneffe
  • Director appointment, JBO (co gérant)
  • Permanent representative, Jean Baisier
  • Mandate compensation, JBO
  • Ratification, ratification de l'ensemble des actes posés par Jean Baisier au nom de la Société jusqu'au 30 juin 2009
  • Co signing requirement, Pour tous les actes d'un montant supérieur à EUR 100.000, la Société ne sera valablement engagée que si les deux gérants sont co-signataires.
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
16 of 17 acts read
About the unread acts

Of the 17 Belgian State Gazette acts we know for this company, 16 have been read. The other one has not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors
5 directors, 1 in day-to-day management, last change in 2025

Board 5

JBO
Director · since 17-10-2016 · Private limited company · perm. rep.: Jean Baisier
Current
Grimobel
Director · since 19-02-2018 · Public limited company · perm. rep.: Joseph Linkens
Current
Guardiola Capital
Director · since 20-01-2025 · Public limited company · perm. rep.: Frederic Markiewicz
Current
Olivier De Reu De Bolle
Director · since 06-11-2025
Current
Guardiola Invest SA
Director · Legal entity · from a recent act
Current
1 not recently confirmed
Still in office according to the acts, but no act of the last six years confirms the mandate. It has often ended since, in an act we have not read.
C J V
Director · since 17-10-2016 · Legal entity · perm. rep.: Ludovic HERNOULD
Not recently confirmed

Day-to-day management 1

JBO
Managing director · since 17-10-2016 · Private limited company · perm. rep.: Jean Baisier
Current

Permanent representatives 3

Jean Baisier
Permanent representative · since 17-10-2016 · for JBO
Current
Joseph Linkens
Permanent representative · since 19-02-2018 · for Grimobel
Current
Frederic Markiewicz
Permanent representative · since 20-01-2025 · for Guardiola Capital
Current
1 not recently confirmed
Still in office according to the acts, but no act of the last six years confirms the mandate. It has often ended since, in an act we have not read.
Ludovic HERNOULD
Permanent representative · since 17-10-2016 · for C J V
Not recently confirmed

Statutory auditor 1

AUDIT VAN GOOLEN
Auditor · since 25-12-2025
Current
"From a recent act": read from a Gazette act not yet processed into our list of directors.
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ. See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
1 of this company's 17 Belgian State Gazette acts has not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Seneffe · 24 establishment units since 2007
seat establishment 23 of 24 establishment units on the map
Ground area
1.2 ha
Building footprint
3,612 m²
Volume, LiDAR
31,691 m³
23 parcels, Brussels, Flanders, Wallonia · tallest building 25.0 m, ±7 floors. Linked by address, not a title deed.
24 establishment units
Rue Jules Bordet 65, 7180 Seneffe
NACE 74879
since 20072.165.459.672
Les Tartes de Françoise
Renbaanlaan 75, 1050 ElseneRetail trade
since 20082.179.114.601
Les Tartes de Françoise
François Laurentplein 35, 9000 GentRetail trade
since 20082.179.115.886
Les Tartes de Françoise
Chaussée de Bruxelles 2, 1310 La HulpeRetail trade
since 20112.204.645.395
Les Tartes de Françoise
Chaussée de Bruxelles 184, 1410 WaterlooRetail trade
since 20122.208.935.666
Les Tartes de Françoise
Waterloosesteenweg 1223, 1180 UkkelRetail trade
since 20122.208.935.864
Show 18 more locations
Les Tartes de Françoise
Orbanlaan 227, 1150 Sint-Pieters-WoluweRetail trade
since 20132.218.324.375
Les Tartes de Françoise
J.B. De Greefsquare 2, 1160 OudergemRetail trade
since 20132.223.141.416
Les Tartes de Françoise
Wemmelse Steenweg 10, 1090 JetteRetail trade
since 20132.223.141.713
Les Tartes de Françoise
Brusselsesteenweg 410, 3090 OverijseRetail trade
since 20142.227.992.802
Les Tartes de Françoise
Volkstraat 8, 2000 AntwerpenRetail trade
since 20142.227.993.196
Les Tartes de Françoise
Marie Depagestraat 62, 1180 UkkelRetail trade
since 20142.234.965.617
Les Tartes de Françoise
Georges Henrilaan 205, 1200 Sint-Lambrechts-WoluweRetail sale of bread and pastry (bakery outlets)
since 20152.240.956.158
Les Tartes de Françoise
Hoogstraat 66, 2800 MechelenRetail trade
since 20162.252.651.784
Les Tartes de Françoise
Bredabaan 212, 2930 BrasschaatRetail trade
since 20162.253.096.796
Les Tartes de Françoise
Doorniksewijk(Kor) 136, 8500 KortrijkRetail trade
since 20162.259.050.519
Les Tartes de Françoise
Mechelsestraat 30, 3000 LeuvenRetail trade
since 20172.262.857.273
Les Tartes de Françoise
Avenue des Princes 52, 1300 WavreRetail trade
since 20172.264.025.827
Les Tartes de Françoise
Rue des Guillemins 74, 4000 LiègeRetail trade
since 20172.267.713.015
Les Tartes de Françoise
Rue Neuve(GER) 3, 6280 GerpinnesRetail trade
since 20172.269.279.663
Les Tartes de Françoise
Joseph Stevensstraat 34, 1000 BrusselRetail trade
since 20182.273.907.949
Les Tartes de Françoise
Rue de Marchovelette 35, 5000 NamurRetail trade
since 20192.295.412.057
Les Tartes de Françoise
Rue Saint-Paul 11-11A, 4000 LiègeRetail trade
since 20232.350.814.992
Les Tartes de Françoise
Sint-Pietersvoorplein 6, 1180 UkkelRetail sale of bread and pastry (bakery outlets)
since 20262.389.804.638
23 parcels
Flanders 7 (30.4%) Wallonia 8 (34.8%) Brussels 8 (34.8%)
Parcel (capakey) Region Area Buildings Height / fl.
52063E0167/00F000 Wallonia 5,440 m² 1 · 533 m² 8.0 m · 1 fl.
23062N0044/00S037 Flanders 1,182 m² 1 · 359 m² -
21612D0377/00F000 Brussels 1,147 m² 1 · 330 m² 15.5 m · 3 fl.
25050B0385/00K000 Wallonia 675 m² 1 · 77 m² 9.3 m · 2 fl.
21463C0379/00X000 Brussels 328 m² 1 · 280 m² 17.8 m · 5 fl.
25762G0380/00A000 Wallonia 318 m² 1 · 59 m² -
21683D0237/00T006 Brussels 252 m² 1 · 187 m² 14.8 m · 4 fl.
25772G0142/00L002 Wallonia 198 m² 1 · 80 m² 13.1 m · 4 fl.
12025E0841/00E000 Flanders 192 m² 1 · 139 m² 12.7 m · 3 fl.
21612C0004/00D029 Brussels 187 m² 1 · 187 m² 11.4 m · 3 fl.
21016B0034/00M014 Brussels 184 m² 1 · 156 m² 20.9 m · 5 fl.
34022E0164/00C000 Flanders 184 m² 1 · 159 m² 13.4 m · 1 fl.
24062A0574/00K000
ProtectedMonumentCollegium Trilingue en aanpalende woonhuizenSource ↗
Flanders 170 m² 1 · 131 m² 15.9 m · 4 fl.
21444B0099/00T000 Brussels 149 m² 1 · 150 m² 21.2 m · 2 fl.
44804D1765/00A000 Flanders 136 m² 1 · 136 m² 23.1 m · 6 fl.
11324D0696/02R000 Flanders 133 m² 1 · 133 m² 13.6 m · 3 fl.
62805B0313/00H005 Wallonia 133 m² 1 · 70 m² 23.8 m · 5 fl.
11811L3648/00B000 Flanders 106 m² 1 · 106 m² 19.9 m · 5 fl.
52025A0328/00D009 Wallonia 96 m² 1 · 53 m² -
21673D0150/00D050 Brussels 90 m² 1 · 90 m² 13.2 m · 4 fl.
62063A1571/00B000 Wallonia 80 m² 1 · 68 m² 17.0 m · 5 fl.
21808H1481/00C000 Brussels 78 m² 1 · 88 m² 25.0 m · 7 fl.
92094C0856/00D000 Wallonia 67 m² 1 · 41 m² 22.5 m · 6 fl.
Linked by address, not proof of ownership
Good to know
23 of 23 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.

Mandate history

13 people since 2009, 7 in office
Show
  • Board
  • Day-to-day management
  • Statutory auditor
  • not recently confirmed
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
JBO
  • Co gérant, from 30-06-2009 to 17-10-2016
  • Manager, already before 17-10-2016 to date
  • Managing director, from 17-10-2016 to date
Grimobel
  • Director, from 19-02-2018 to date
Guardiola Invest SAfrom an act
  • Director, already before 07-12-2022 to date
Guardiola Capital
  • Director, from 20-01-2025 to date
Olivier De Reu De Bolle
  • Director, from 06-11-2025 to date
AUDIT VAN GOOLEN
  • Auditor, from 25-12-2025 to date
C J V
  • Manager, until 17-10-2016
  • Director, from 17-10-2016 not ended, last confirmed 14-11-2016
Geert Van Goolen
  • Statutory auditor, from 23-04-2014 to 25-12-2025
Philing
  • Chair of the board, from 17-10-2016 ended, last mentioned 14-11-2016
  • Manager, already before 17-10-2016 to 20-01-2025
CJV SA
  • Director, until 01-02-2023
IMBC CAPITAL RISQUE
  • Manager, already before 17-10-2016 to 13-10-2022
LINKENS Joseph
  • Director, from 12-05-2017 to 19-02-2018
Olivier Laffut
  • Manager, until 17-10-2016
See the board, name and seat on a given date →

Articles of association

Purpose
La société a pour objet la gestion des contrats de franchises, la prise de participations dans d'autres sociétés et à cet effet procéder à l'investissement, la souscription, la…
Full purpose

La société a pour objet la gestion des contrats de franchises, la prise de participations dans d'autres sociétés et à cet effet procéder à l'investissement, la souscription, la prise ferme, le placement, la vente, l'achat et la négociation d'actions, parts, obligations, certificats, crédits, monnaies et autres valeurs mobilières émises par des entreprises belges ou étrangères et qu'elles aient ou non un statut juridique (semi)-publique. Elle pourra exercer la gestion des investissements et des participations dans des sociétés-filles, l'exercice de fonctions d'administration, la fourniture de conseils, management et autres services de même nature que les activités de la société; ces services pouvant être fournis sur une base contractuelle ou statutaire et en la qualité de conseiller externe ou d'organe. Elle pourra enfin accorder des prêts et avances sous quelle forme ou quelle durée que ce soit, à toutes les entreprises liées ou entreprises dans lesquelles elle possède une participation, ainsi que garantir tous les engagements des mêmes entreprises. Elle peut accepter tout mandat de gestion et d’administration dans toute société et association quelconque. La société peut exercer le commerce sous toutes ses formes, et notamment l’importation, l’exportation, l’achat et la vente en gros ou en détail, la représentation, le courtage et la distribution, ainsi que la fabrication, la transformation et le transport de toutes marchandises et de tous produits généralement quelconques et au sens le plus large. La société peut participer directement ou indirectement dans ou fusionner avec d’autres sociétés ou entreprises qui peuvent contribuer à son développement ou la favoriser et conclure tous accords avec toutes sociétés, entreprises ou associations dans ce même but. Elle peut exercer toute activité susceptible de favoriser la réalisation de son objet et de participer à une telle activité de quelque façon que ce soit. Elle peut s’intéresser par toutes voies, dans toutes affaires, associations, entreprises ou sociétés ayant un objet identique, analogue, similaire ou connexe, ou qui soit de nature à favoriser le développement de ses activités. D’une façon générale, la société peut faire toutes opérations commerciales, industrielles, financières, mobilières ou immobilières se rapportant directement ou indirectement en tout ou en partie à son objet ou qui seraient de nature à en faciliter la réalisation.

Structure & network

Owners and holdings

1 owner

Chain of control

  1. The Belgian Pie Company 99.98%
  2. TF CO

Highest known parent: The Belgian Pie Company. The sources do not say who stands above it.

Owners 1

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts 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

15 connected companies
Linked via shared directors
Show 11 more companies with a shared director
NEUHAUS
Shared director
→
DIGITAL ATTRAXION
Shared corporate director
→
DOSSCHE INVEST
Shared corporate director
→
DOSSCHE MILLS
Shared corporate director
→
GOURMAND
Shared corporate director
→
HUBISCO
Shared corporate director
→
Phifin
Shared corporate director
→

Capital and shareholders

Capital over the years
  1. 21-01-2022 Capital increase of 700,000 EUR · to 800,000 EUR · 70,000 new shares
  2. 14-11-2016 Capital stated in the act · 100,000 EUR · 10,000 shares

Recognitions · licences · registrations

Food safety, FASFC

23 sites
Elsene2.179.114.601
2 permissions
Toelating · Bakkerij · since 26-10-2010
Toelating · Detailhandel · since 26-10-2010
Jette2.223.141.713
2 permissions
Toelating · Bakkerij · since 30-10-2013
Toelating · Detailhandel · since 30-10-2013
Seneffe2.165.459.672
2 permissions
Toelating · Fabrikant bereide gerechten · since 02-06-2020
Toelating · Industriële bakkerij · since 02-06-2020
Antwerpen2.227.993.196
1 permission
Toelating · Bakkerij · since 06-05-2014
Show 19 more sites
Brasschaat2.253.096.796
1 permission
Toelating · Bakkerij · since 25-10-2016
Brussel2.273.907.949
1 permission
Toelating · Bakkerij · since 19-04-2018
Gent2.179.115.886
1 permission
Toelating · Bakkerij · since 01-07-2008
Gerpinnes2.269.279.663
1 permission
Toelating · Bakkerij · since 13-12-2017
Kortrijk2.259.050.519
1 permission
Toelating · Bakkerij · since 09-01-2017
La Hulpe2.204.645.395
1 permission
Toelating · Bakkerij · since 12-04-2012
Leuven2.262.857.273
1 permission
Toelating · Bakkerij · since 23-05-2017
Liège2.267.713.015
1 permission
Toelating · Bakkerij · since 30-11-2017
Mechelen2.252.651.784
1 permission
Toelating · Bakkerij · since 20-05-2016
Namur2.295.412.057
1 permission
Toelating · Bakkerij · since 28-11-2019
Oudergem2.223.141.416
1 permission
Toelating · Bakkerij · since 30-10-2013
Overijse2.227.992.802
1 permission
Toelating · Bakkerij · since 15-04-2014
Sint-Lambrechts-Woluwe2.240.956.158
1 permission
Toelating · Bakkerij · since 22-05-2015
Sint-Pieters-Woluwe2.218.324.375
1 permission
Toelating · Bakkerij · since 04-06-2013
Ukkel2.208.935.864
1 permission
Toelating · Bakkerij · since 30-05-2012
Ukkel2.234.965.617
1 permission
Toelating · Bakkerij · since 20-10-2014
Ukkel2.389.804.638
1 permission
Toelating · Bakkerij · since 24-06-2026
Waterloo2.208.935.666
1 permission
Toelating · Bakkerij · since 31-05-2012
Wavre2.264.025.827
1 permission
Toelating · Bakkerij · since 30-06-2017

Legal Entity Identifier

875500JAL7I1OI1L9M29
no longer live in the LEI register

Similar companies · same sector, comparable size

Of 514 companies in sector 10711 we hold annual accounts for 329. 186 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification
Legal formPublic limited company
Founded14-12-2005
Fiscal year end30-06
Activities, NACEBEL 2025
10711Manufacture of food products
E-invoicing
Reachable via Peppol
Peppol ID 0208:0877890580
Registered 20-11-2020

Register as of 27 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.