TOGOFILL

Active

Public limited companyfounded 198640 yrs activeWaregemseweg (W.) 146A, 9790 Wortegem-Petegem, BelgiumKBO/BCE: BE 0428.837.097

TOGOFILL has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (€-136k) and a net result of €-678k. Equity is shrinking by ~5.7% per year across the filed fiscal years. Its solvency ranks better than 9% of 1302 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).

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Checked score

Score 2024

12 / 100

Critical▼ -66 vs 2023

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability33▼-5

Solvency55▲+10

Growth42▼-30

Stability100

Bankruptcy probability, 12 months

0.7% Low

0%0.5%1.5%4%10%≥ 25%

No credit on open account

Liquidity tight (current ratio 1.47 against 2.24 in 2023), and equity is negative.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

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

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 41

Relative position

BE, all sectors

reference

Sector 41

higher

← fewer bankruptcies more bankruptcies →

Annual accounts: weaker financial profile

The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

-2.6%

Return on assets

-13.1%

Age of the figures

20 mo

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Negative equity

Equity is negative for financial year 2024: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).

NBB · annual accounts 2024

Equity per financial year

18192021222324

2018 to 2024 · latest year -€136k

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 04-07-2025, 27 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

27 d early

2023

23 d early

2022

20 d early

2021

46 d early

2020

24 d early

2019

23 d early

← before the deadline after the deadline →

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

Financials · fiscal year 2024, full schema

Turnover

€2.52M▼ 50.5%

2023 · €5.09M

2018: €1.53M 2019: €4.52M 2020: €2.24M 2021: €1.34M 2022: €1.88M 2023: €5.09M

2018 → 2024

EBIT margin

-24.5%▼ 26.2pp

2023 · 1.6%

2018: 1.3% 2019: 0.7% 2020: 0.9% 2021: 3.0% 2022: -9.1% 2023: 1.6%

2018 → 2024

Net result

€-678k

2023 · €79k

2018: €13k 2019: €8k 2020: €13k 2021: €30k 2022: €-187k 2023: €79k

2018 → 2024

Working capital

€1.60M▼ 0.9%

2023 · €1.62M

2018: €555k 2019: €569k 2020: €595k 2021: €939k 2022: €1.01M 2023: €1.62M

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Turnover€2.24M-€1.34M▼ 40.0%€1.88M▲ 40.5%€5.09M▲ 170%€2.52M▼ 50.5%

Equity€621k-€651k▲ 4.8%€463k▼ 28.8%€542k▲ 17.0%€-136k

Operating result€21k-€41k▲ 96.5%€-172k€83k€-618k

Net result€13k-€30k▲ 123%€-187k€79k€-678k

Result per fiscal year

Operating resultNet result

The operating result turns negative in 2024: a loss of €618k after €83k in 2023, the lowest year so far.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €5.16M

97.6%

Fixed assets €123k▲ 25.5%

Current assets €5.04M▲ 72.5%

Key figures and ratios

2024 value · change against 2023

EBITDA

€-612k▼

2023 · €89k

Cash flow

€-672k▼

2023 · €85k

Solvency

-2.6%▼

2023 · 17.9%

Current ratio

1.47▼

2023 · 2.24

Quick ratio

0.31▼

2023 · 0.86

Debt / equity

-39.07▼

2023 · 4.57

ROE

499.7%▲

2023 · 14.5%

ROA

-13.1%▼

2023 · 2.6%

Interest coverage

-10.16▼

2023 · 6.21

Debt

€5.30M▲

2023 · €2.48M

Debt ≤ 1 year

€3.44M▲

2023 · €1.30M

Debt > 1 year

€1.86M▲

2023 · €1.17M

Income taxes

€-16▼

2023 · €4

Staff costs

€130k▼

2023 · €264k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€3.02M€5.16M▲

Fixed assets21/28€98k€123k▲

Tangible fixed assets22/27€16k€10k▼

Plant, machinery and equipment23€3k€2k▼

Furniture and vehicles24€2k€1k▼

Leasing and similar rights25€11k€7k▼

Financial fixed assets28€82k€114k▲

Affiliated companies280/1€60k€91k▲

Participating interests280€60k€91k▲

Other financial fixed assets284/8€22k€23k▲

Shares284€2k€2k▲

Amounts receivable and cash guarantees285/8€21k€21k▲

Current assets29/58€2.92M€5.04M▲

Stocks and contracts in progress3€1.81M€3.97M▲

Stocks30/36€1.81M€3.97M▲

Finished goods33€1.32M€2.94M▲

Property held for sale35€484k€1.03M▲

Amounts receivable within one year40/41€946k€1.03M▲

Trade receivables40€445k€231k▼

Other amounts receivable41€500k€803k▲

Cash at bank and in hand54/58€166k€34k▼

Deferred charges and accrued income490/1€4k€1k▼

Equity and liabilities

Total equity and liabilities10/49€3.02M€5.16M▲

Equity10/15€542k€-136k▼

Contributions10/11€100k€100k=

Capital10€100k€100k=

Issued capital100€100k€100k=

Reserves13€442k€442k=

Non-distributable reserves130/1€10k€10k=

Legal reserve130€10k€10k=

Distributable reserves133€432k€432k=

Profit (loss) carried forward14-€-678k

Amounts payable17/49€2.48M€5.30M▲

Amounts payable after more than one year17€1.17M€1.86M▲

Financial debts170/4€1.17M€1.86M▲

Leasing and similar obligations172€6k€2k▼

Other loans174€1.17M€1.86M▲

Amounts payable within one year42/48€1.30M€3.44M▲

Current portion of amounts payable after more than one year42€140k€368k▲

Financial debts43€262k€1.68M▲

Credit institutions430/8€262k€1.68M▲

Trade debts44€779k€849k▲

Suppliers440/4€779k€849k▲

Taxes, remuneration and social security45€122k€52k▼

Taxes450/3€106k€32k▼

Remuneration and social security454/9€16k€20k▲

Other amounts payable47/48€1k€486k▲

Income statement Code20232024

Operating income70/76A€6.04M€4.17M▼

Turnover70€5.09M€2.52M▼

Change in stocks of work in progress, finished goods and contracts in progress71€927k€1.62M▲

Other operating income74€24k€26k▲

Non-recurring operating income76A-€7k

Operating charges60/66A€5.96M€4.79M▼

Goods for resale, raw materials and consumables60€4.96M€4.55M▼

Purchases600/8€5.01M€5.10M▲

Change in stocks: decrease (increase)609€-52k€-550k▼

Services and other goods61€727k€104k▼

Remuneration, social security and pensions62€264k€130k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€6k=

Other operating charges640/8€994€938▼

Operating profit (loss)9901€83k€-618k▼

Financial income75/76B€26k€23k▼

Recurring financial income75€26k€23k▼

Income from current assets751€26k€23k▼

Financial charges65/66B€30k€82k▲

Recurring financial charges65€30k€82k▲

Debt charges650€14k€60k▲

Other financial charges652/9€16k€22k▲

Profit (loss) for the period before taxes9903€79k€-678k▼

Income taxes67/77€4€-16▼

Taxes670/3€16€119▲

Tax adjustments and reversals of tax provisions77€12€135▲

Profit (loss) for the period9904€79k€-678k▼

Profit (loss) for the period to be appropriated9905€79k€-678k▼

Appropriation of the result

Profit (loss) to be appropriated9906€79k€-678k▼

Transfer to equity691/2€79k-

To other reserves6921€79k-

Social balance

Average headcount (FTE)90874.72.8▼

The notes to these accounts (60 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 13Financial 3Filings 10

2025

04-07

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

31-12

Financial Weakest financial yearnet €-678k ▼960%

Net result drops to €-678k, the lowest in the series.

08-07

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

31-12

Financial Back to profitnet €79k

Net result €79k after one loss-making year.

31-12

Financial Equity above €500kEq €542k ▲17%

Equity rises from €463k to €542k.

11-07

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

15-06

NBB filing Annual accounts filed

fiscal year 2021 · full schema

2021

07-07

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

08-07

NBB filing Annual accounts filed

fiscal year 2019 · full schema

2019

02-07

NBB filing Annual accounts filed

fiscal year 2018 · full schema

2018

04-07

NBB filing Annual accounts filed

fiscal year 2017 · full schema

2017

23-06

NBB filing Annual accounts filed

fiscal year 2016 · full schema

2016

07-07

NBB filing Annual accounts filed

fiscal year 2015 · full schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

26-06-2024 Resigned as Permanent representative

26-06-2024 Appointed as Permanent representative

Location & real-estate footprint

Registered office, Wortegem-Petegem · 1 establishment unit since 2001

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Waregemseweg (W.) 146A9790 Wortegem-Petegem

Ground area

2.5 ha

Building footprint

1,649 m²