TORA
ActiveSummary
TORA has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.0m and a net result of €6,848. Equity is growing by ~15% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability20▼-11
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65,000 at 30 days acceptable
short-term debt: 0.5% and cash: 2.5% of total assets, and 1% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
99%
Return on assets
0.7%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 26-03-2026, 35 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
35 d early
2024
56 d early
2023
43 d early
2022
34 d early
2021
54 d early
2020
34 d early
2019
31 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 41 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€1.0m▲ 0.7%
2024 · €1.0m
Total assets
€1.0m▼ 5.5%
2024 · €1.1m
Net result
€6,848▼ 93.7%
2024 · €108,309
Working capital
€964,801▲ 1.3%
2024 · €952,619
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
Operating result€1.4m-€13,976-€17,544▼ 25.5%-€16,867▲ 3.9%-€15,917▲ 5.6%
Net result€930,914-€186,428€14,353€108,309▲ 655%€6,848▼ 93.7%
Equity€1.1m▲ 694%€878,560▼ 17.5%€892,913▲ 1.6%€1.0m▲ 12.1%€1.0m▲ 0.7%
Total assets€1.7m▲ 326%€952,644▼ 42.7%€968,560▲ 1.7%€1.1m▲ 11.2%€1.0m▼ 5.5%
Debt€596,430▲ 133%€74,085▼ 87.6%€75,647▲ 2.1%€76,254▲ 0.8%€10,237▼ 86.6%
Working capital€1.0m▲ 466%€830,697▼ 18.7%€845,184▲ 1.7%€952,619▲ 12.7%€964,801▲ 1.3%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €15,917 in 2025 against €16,867 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€48,808 ▼ 4.6%
Current assets
€969,498 ▼ 5.5%
Equity and liabilities €1.0m
Equity
€1.0m ▲ 0.7%
Debt
€10,237 ▼ 86.6%
Debt's share of the balance-sheet total falls from 7.1% to 1.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
-€13,562▲
2024 · -€14,612
Cash flow
€9,203▼
2024 · €110,563
Debt to equity
0.01▼
2024 · 0.08
ROE
0.7%▼
2024 · 10.8%
ROA
0.7%▼
2024 · 10.1%
Interest coverage
-3.25▲
2024 · -15.95
Debt ≤ 1 year
€4,698▼
2024 · €73,694
Income taxes
€283▲
2024 · €200
A ratio outside any meaningful range has been withheld (balance sheet total €1.0m, equity €1.0m).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,684 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
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%.
| 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 14,684 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €383 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,422 | €2,047 | €2,047 | €2,254 | €2,356 | ▲ 4.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €7,130 | -€301,820 | - | - | - |
| Other operating charges640/8 | - | €6,227 | €314,930 | €6,425 | €6,682 | ▲ 4.0% |
| Gross operating margin9900 | €1.7m | €1,428 | -€2,387 | -€8,187 | -€6,880 | ▲ 16.0% |
| Operating profit (loss)9901 | €1.4m | -€13,976 | -€17,544 | -€16,867 | -€15,917 | ▲ 5.6% |
| Financial income75/76B | - | €10,473 | €33,674 | €126,292 | €54,681 | ▼ 56.7% |
| Recurring financial income75 | €41 | €10,473 | €33,674 | €18,582 | €21,219 | ▲ 14.2% |
| Non-recurring financial income76B | - | - | - | €107,710 | €33,463 | ▼ 68.9% |
| Financial charges65/66B | - | €182,684 | €732 | €916 | €31,634 | ▲ 3,354% |
| Recurring financial charges65 | €5,732 | €182,684 | €732 | €916 | €4,170 | ▲ 355% |
| Non-recurring financial charges66B | - | - | - | - | €27,464 | - |
| Profit (loss) for the period before taxes9903 | €1.4m | -€186,187 | €15,398 | €108,509 | €7,130 | ▼ 93.4% |
| Income taxes67/77 | €462,173 | €240 | €1,045 | €200 | €283 | ▲ 41.6% |
| Profit (loss) for the period9904 | €930,914 | -€186,428 | €14,353 | €108,309 | €6,848 | ▼ 93.7% |
| Transfer from tax-exempt reserves789 | - | €10,249 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €930,914 | -€176,179 | €14,353 | €108,309 | €6,848 | ▼ 93.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.7m | €952,644 | €968,560 | €1.1m | €1.0m | ▼ 5.5% |
| Fixed assets21/28 | €54,422 | €52,375 | €50,328 | €51,164 | €48,808 | ▼ 4.6% |
| Tangible fixed assets22/27 | €54,422 | €52,375 | €50,328 | €51,164 | €48,808 | ▼ 4.6% |
| Land and buildings22 | - | €52,375 | €50,328 | €48,282 | €46,235 | ▼ 4.2% |
| Plant, machinery and equipment23 | - | - | - | €2,882 | €2,573 | ▼ 10.7% |
| Current assets29/58 | €1.6m | €900,269 | €918,231 | €1.0m | €969,498 | ▼ 5.5% |
| Amounts receivable after more than one year29 | - | - | - | - | €220,000 | - |
| Other amounts receivable291 | - | - | - | - | €220,000 | - |
| Amounts receivable within one year40/41 | €971 | €2,888 | €5,634 | €5,375 | €4,147 | ▼ 22.8% |
| Other amounts receivable41 | - | €2,888 | €5,634 | €5,375 | €4,147 | ▼ 22.8% |
| Current investments50/53 | - | €825,315 | €901,513 | €971,534 | €711,714 | ▼ 26.7% |
| Cash at bank and in hand54/58 | €1.6m | €70,471 | €9,080 | €47,487 | €25,336 | ▼ 46.6% |
| Deferred charges and accrued income490/1 | - | €1,595 | €2,005 | €1,916 | €8,301 | ▲ 333% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.7m | €952,644 | €968,560 | €1.1m | €1.0m | ▼ 5.5% |
| Equity10/15 | €1.1m | €878,560 | €892,913 | €1.0m | €1.0m | ▲ 0.7% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €1.0m | €937,114 | €937,114 | €937,114 | €937,114 | = |
| Non-distributable reserves130/1 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | - | €930,914 | €930,914 | €930,914 | €930,914 | = |
| Profit (loss) carried forward14 | €124 | -€120,554 | -€106,201 | €2,108 | €8,956 | ▲ 325% |
| Amounts payable17/49 | €596,430 | €74,085 | €75,647 | €76,254 | €10,237 | ▼ 86.6% |
| Amounts payable within one year42/48 | €584,903 | €69,572 | €73,047 | €73,694 | €4,698 | ▼ 93.6% |
| Trade debts44 | €2,118 | €139 | €3,622 | €3,429 | €3,536 | ▲ 3.1% |
| Suppliers440/4 | - | €139 | €3,622 | €3,429 | €3,536 | ▲ 3.1% |
| Taxes, remuneration and social security45 | - | - | €64 | €3 | - | - |
| Taxes450/3 | - | - | €64 | €3 | - | - |
| Other amounts payable47/48 | - | €69,434 | €69,362 | €70,262 | €1,162 | ▼ 98.3% |
| Accrued charges and deferred income492/3 | - | €4,512 | €2,600 | €2,561 | €5,539 | ▲ 116% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €930,914 | -€186,428 | €14,353 | €108,309 | €6,848 | ▼ 93.7% |
| + Depreciation and write-downs630 | €3,422 | €2,047 | €2,047 | €2,254 | €2,356 | ▲ 4.5% |
| Operating cash flow (approximation) | €934,336 | -€184,381 | €16,400 | €110,563 | €9,203 | ▼ 91.7% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€3,089 | €0 | ▲ 100% |
| Change in cash | - | -€1.5m | -€61,392 | €38,408 | -€22,151 | ▼ 158% |
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
26-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Liquidity times 15current ratio 206.37
Current ratio from 13.93 to 206.37; short-term debt falls from €73,694 to €4,698.
05-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Equity above €1mEq €1.0m ▲12.1%
2 profitable years in a row build equity to €1.0m.
18-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Back to profitnet €14,353
Net result €14,353 after one loss-making year.
27-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Weakest financial yearnet -€186,428
Net result drops to -€186,428, the lowest in the series; recovery starts the following year.
30-09
Financial
Liquidity times 5current ratio 12.94
Current ratio from 2.75 to 12.94; short-term debt falls from €584,903 to €69,572.
07-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Back to profitnet €930,914
Net result €930,914 after 2 loss-making years.
30-09
Financial
Equity above €1mEq €1.1m ▲694%
Equity rises from €134,073 to €1.1m.
Show earlier events
27-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
20-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
24-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
06-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Veurne · 1 establishment unit since 1985
Ground area
1,195 m²
Building footprint
466 m²
Volume, LiDAR
4,195 m³
Parcel 38025B0320/00H002, Flanders · tallest building 12.5 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Ieperse Steenweg 14, 8630 Veurne
since 19852.028.726.393
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38025B0320/00H002 | Flanders | 1,195 m² | 1 · 466 m² | 12.5 m · 3 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.
Identification & contact
Identification
Legal formPublic limited company
Founded01-01-1985
Fiscal year end30-09
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
What can you do?
Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.
If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.