TF IMMO
ActiveSummary
TF IMMO has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.52M and a net result of €173k. Equity is growing by ~18.7% per year across the filed fiscal years. Its solvency ranks better than 53% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▲+7
Solvency60=
Growth35=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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 dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
34.9%
Return on assets
1.7%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-09-2026, 34 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
34 d late
2024
190 d late
2023
99 d late
2022
50 d late
2021
99 d late
2020
121 d late
2019
78 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2025, abbreviated schema
In the rankings
#3 company by equity in Vilvoorde, Real estate sector#8 company by total assets in Vilvoorde, Real estate sector
Turnover
€2k▼ 94.1%
2024 · €25k
EBIT margin
23245.6%▲ 22525.8pp
2024 · 719.8%
Net result
€173k▲ 178%
2024 · €62k
Working capital
€-420k▼ 16.1%
2024 · €-361k
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€441k▼ 95.7%€10k▼ 97.7%€23k▲ 127%€25k▲ 11.0%€2k▼ 94.1%
Operating result€339k▼ 79.6%€1.82M▲ 437%€46k▼ 97.5%€182k▲ 297%€349k▲ 91.6%
Net result€186k▼ 83.8%€1.06M▲ 472%€-106k€62k€173k▲ 178%
EBIT margin76.8%▲ 60.4pp18145.5%▲ 18068.7pp201.4%▼ 17944.1pp719.8%▲ 518.5pp23245.6%▲ 22525.8pp
Equity€2.53M▲ 3.4%€3.59M▲ 42.0%€3.48M▼ 3.1%€3.54M▲ 1.8%€3.52M▼ 0.4%
Total assets€7.19M▲ 40.1%€10.00M▲ 39.1%€10.39M▲ 3.9%€10.04M▼ 3.4%€10.09M▲ 0.6%
Debt€4.38M▲ 84.8%€5.71M▲ 30.3%€6.24M▲ 9.3%€5.85M▼ 6.2%€6.01M▲ 2.6%
Working capital€287k▼ 72.4%€7k▼ 97.7%€-294k€-361k▼ 22.8%€-420k▼ 16.1%
Staff (FTE)
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 92% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.09M
Fixed assets
€9.87M ▲ 0.2%
Current assets
€225k ▲ 20.1%
Equity and liabilities €10.09M
Equity
€3.52M ▼ 0.4%
Provisions
€562k ▼ 12.7%
Debt
€6.01M ▲ 2.6%
Debt's share of the balance-sheet total rises from 58.3% to 59.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€689k▲
2024 · €532k
Cash flow
€514k▲
2024 · €412k
Current ratio
0.35▲
2024 · 0.34
Debt to equity
1.70▲
2024 · 1.65
ROE
4.9%▲
2024 · 1.8%
ROA
1.7%▲
2024 · 0.6%
Interest coverage
4.77▲
2024 · 3.78
Debt ≤ 1 year
€645k▲
2024 · €549k
Debt > 1 year
€5.35M▲
2024 · €5.30M
Income taxes
€51k▲
2024 · €50
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €441k | €10k | €23k | €25k | €2k | ▼ 94.1% |
| Non-recurring operating income76A | - | €1.74M | - | - | €186k | - |
| Goods, raw materials, services and sundry goods60/61 | €294k | €246k | €214k | €158k | €201k | ▲ 27.3% |
| Remuneration, social security and pensions62 | €23k | €2k | €0 | €319 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €163k | €259k | €350k | €350k | €341k | ▼ 2.7% |
| Other operating charges640/8 | €100k | €123k | €122k | €60k | €56k | ▼ 6.3% |
| Non-recurring operating charges66A | €69k | €3k | €40 | €63 | €63 | ▲ 0.5% |
| Gross operating margin9900 | €694k | €2.21M | €518k | €592k | €745k | ▲ 25.9% |
| Operating profit (loss)9901 | €339k | €1.82M | €46k | €182k | €349k | ▲ 91.6% |
| Financial income75/76B | €6 | €296 | €1k | €170 | €947 | ▲ 457% |
| Recurring financial income75 | €6 | €296 | €1k | €170 | €947 | ▲ 457% |
| Financial charges65/66B | €72k | €96k | €144k | €141k | €145k | ▲ 2.8% |
| Recurring financial charges65 | €72k | €96k | €144k | €141k | €145k | ▲ 2.8% |
| Profit (loss) for the period before taxes9903 | €267k | €1.72M | €-97k | €41k | €205k | ▲ 394% |
| Transfer from deferred taxes780 | €3k | €7k | €17k | €21k | €27k | ▲ 28.4% |
| Transfer to deferred taxes680 | - | €428k | - | - | €7k | - |
| Income taxes67/77 | €85k | €242k | €27k | €50 | €51k | ▲ 102,298% |
| Profit (loss) for the period9904 | €186k | €1.06M | €-106k | €62k | €173k | ▲ 178% |
| Transfer from tax-exempt reserves789 | €10k | €22k | €52k | €63k | €81k | ▲ 28.4% |
| Transfer to tax-exempt reserves689 | - | €1.28M | - | - | €22k | - |
| Profit (loss) for the period to be appropriated9905 | €196k | €-200k | €-54k | €125k | €231k | ▲ 84.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €7.19M | €10.00M | €10.39M | €10.04M | €10.09M | ▲ 0.6% |
| Formation expenses20 | €0 | €0 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €6.21M | €9.31M | €10.13M | €9.85M | €9.87M | ▲ 0.2% |
| Tangible fixed assets22/27 | €6.16M | €9.26M | €10.08M | €9.80M | €9.81M | ▲ 0.2% |
| Land and buildings22 | €5.89M | €8.61M | €9.44M | €9.19M | €9.25M | ▲ 0.7% |
| Plant, machinery and equipment23 | €251k | €631k | €624k | €587k | €524k | ▼ 10.7% |
| Furniture and vehicles24 | €12k | €20k | €12k | €23k | €41k | ▲ 80.1% |
| Other tangible fixed assets26 | - | €0 | €0 | €0 | €0 | - |
| Financial fixed assets28 | €53k | €53k | €53k | €53k | €53k | = |
| Current assets29/58 | €977k | €689k | €254k | €188k | €225k | ▲ 20.1% |
| Amounts receivable after more than one year29 | €76k | €113k | €0 | - | - | - |
| Other amounts receivable291 | €76k | €113k | €0 | - | - | - |
| Amounts receivable within one year40/41 | €442k | €345k | €61k | €54k | €69k | ▲ 29.3% |
| Trade receivables40 | €329k | €249k | €44k | €40k | €50k | ▲ 26.2% |
| Other amounts receivable41 | €113k | €96k | €17k | €14k | €19k | ▲ 37.9% |
| Cash at bank and in hand54/58 | €458k | €230k | €193k | €131k | €156k | ▲ 19.5% |
| Deferred charges and accrued income490/1 | - | €2k | €0 | €3k | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €7.19M | €10.00M | €10.39M | €10.04M | €10.09M | ▲ 0.6% |
| Equity10/15 | €2.53M | €3.59M | €3.48M | €3.54M | €3.52M | ▼ 0.4% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Capital10 | €19k | €19k | - | - | - | - |
| Issued capital100 | €19k | €19k | - | - | - | - |
| Reserves13 | €832k | €2.09M | €2.00M | €1.93M | €1.69M | ▼ 12.7% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Legal reserve130 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €2k | €2k | €2k | = |
| Tax-exempt reserves132 | €830k | €2.09M | €2.00M | €1.93M | €1.69M | ▼ 12.7% |
| Profit (loss) carried forward14 | €1.68M | €1.48M | €1.46M | €1.59M | €1.82M | ▲ 14.6% |
| Provisions and deferred taxes16 | €277k | €697k | €665k | €644k | €562k | ▼ 12.7% |
| Deferred taxes168 | €277k | €697k | €665k | €644k | €562k | ▼ 12.7% |
| Amounts payable17/49 | €4.38M | €5.71M | €6.24M | €5.85M | €6.01M | ▲ 2.6% |
| Amounts payable after more than one year17 | €3.69M | €5.03M | €5.69M | €5.30M | €5.35M | ▲ 1.0% |
| Financial debts170/4 | €3.69M | €5.01M | €5.67M | €5.27M | €5.33M | ▲ 1.1% |
| Other amounts payable178/9 | - | €19k | €23k | €23k | €18k | ▼ 21.0% |
| Amounts payable within one year42/48 | €690k | €682k | €548k | €549k | €645k | ▲ 17.4% |
| Current portion of amounts payable after more than one year42 | €278k | €362k | €400k | €418k | €452k | ▲ 8.1% |
| Financial debts43 | €910 | €831 | €0 | €0 | - | - |
| Credit institutions430/8 | €910 | €831 | €0 | €0 | - | - |
| Other loans439 | - | - | €0 | €0 | - | - |
| Trade debts44 | €326k | €256k | €36k | €43k | €97k | ▲ 127% |
| Suppliers440/4 | €326k | €256k | €36k | €43k | €97k | ▲ 127% |
| Taxes, remuneration and social security45 | €0 | €0 | €0 | €2k | €14k | ▲ 484% |
| Taxes450/3 | €0 | €0 | €0 | €2k | €0 | ▼ 100% |
| Remuneration and social security454/9 | €0 | €0 | €0 | €0 | €14k | - |
| Other amounts payable47/48 | €86k | €64k | €113k | €86k | €82k | ▼ 4.6% |
| Accrued charges and deferred income492/3 | - | - | €680 | €6k | €11k | ▲ 80.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €186k | €1.06M | €-106k | €62k | €173k | ▲ 178% |
| + Depreciation and write-downs630 | €163k | €259k | €350k | €350k | €341k | ▼ 2.7% |
| Operating cash flow (approximation) | €349k | €1.32M | €243k | €412k | €514k | ▲ 24.6% |
| Investment in fixed assets (approximation) | - | €-3.36M | €-1.17M | €-68k | €-360k | ▼ 431% |
| Change in cash | - | €-228k | €-37k | €-62k | €25k | ▲ 141% |
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
Next filing, fiscal year 2026, expected by
2026
03-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 34 days late
06-02
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 190 days late
2024
31-12
Financial
Back to profitnet €62k
Net result €62k after one loss-making year.
07-11
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 99 days late
2023
31-12
Financial
Weakest financial yearnet €-106k
Net result drops to €-106k, the lowest in the series; recovery starts the following year.
19-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 50 days late
2022
07-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 99 days late
2021
29-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 121 days late
2020
31-12
Financial
Highest result since 2018net €1.14M ▲321%
Net result €1.14M, the highest in the series.
31-12
Financial
Equity above €2MEq €2.44M ▲88%
3 profitable years in a row build equity to €2.44M.
17-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 78 days late
2019
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 58 days late
2018
31-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 92 days late
2017
11-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 72 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Vilvoorde · 1 establishment unit since 2014
Ground area
179 m²
Building footprint
120 m²
Volume, LiDAR
634 m³
Parcel 23642D0668/00D000, Flanders · tallest building 9.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
TF IMMO
since 20142.238.046.554
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23642D0668/00D000 | Flanders | 179 m² | 1 · 120 m² | 9.6 m · 2 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.
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O - INVEST
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Of 9,143 companies in sector 68201 we hold annual accounts for 6,769. 3,629 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
Founded25-08-1998
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
68110Buying and selling of own real estate
68202Real estate activities
68203Renting and operating of own or leased non-residential real estate, excluding land
Contact
E-mail
turkfood@hotmail.comVilvoorde
Scores and ratios are computed by Checked and are not a credit decision.