TORA
ActiveSummary
TORA has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €711k and a net result of €69k. Equity is growing by ~9.4% per year across the filed fiscal years. Its solvency ranks better than 27% of 9194 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
61
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability48▼-27
Solvency33▼-61
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity short (current ratio 0.22 against 2.16 in 2024; short-term debt: 26.5% and cash: 5.9% of total assets), and 91.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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
Sector 68
lower
← 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
8.2%
Return on assets
0.8%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
on the day
2023
34 d early
2022
31 d early
2021
3 d late
2020
5 d late
2019
6 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€235k
EBIT margin
-1.5%
Net result
€69k▲ 40.9%
2024 · €49k
2018: €59k
2019: €-15k
2020: €80k
2021: €49k
2022: €40k
2023: €55k
2024: €49k
2018 → 2025
Working capital
€-1.78M
2024 · €96k
2018: €-35k
2019: €-56k
2020: €16k
2021: €38k
2022: €68k
2023: €56k
2024: €96k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€498k-€538k▲ 8.0%€593k▲ 10.3%€642k▲ 8.2%€711k▲ 10.7%
Operating result€77k-€61k▼ 20.8%€82k▲ 34.4%€79k▼ 3.5%€158k▲ 98.8%
Net result€49k-€40k▼ 19.6%€55k▲ 39.4%€49k▼ 12.0%€69k▲ 40.9%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 99% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.63M
Fixed assets
€8.13M ▲ 972%
Current assets
€505k ▲ 183%
Equity and liabilities €8.63M
Equity
€711k ▲ 10.7%
Debt
€7.92M ▲ 2,592%
Debt's share of the balance-sheet total rises from 31.4% to 91.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€224k▲
2024 · €128k
Cash flow
€135k▲
2024 · €98k
Current ratio
0.22▼
2024 · 2.16
Debt to equity
11.15▲
2024 · 0.46
ROE
9.7%▲
2024 · 7.6%
ROA
0.8%▼
2024 · 5.2%
Interest coverage
3.41▼
2024 · 10.34
Debt ≤ 1 year
€2.29M▲
2024 · €83k
Debt > 1 year
€5.63M▲
2024 · €211k
Income taxes
€25k▲
2024 · €18k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 44 lines
Balance sheet
Code20242025
Assets
Total assets20/58€936k€8.63M▲
Fixed assets21/28€758k€8.13M▲
Tangible fixed assets22/27€758k€8.13M▲
Land and buildings22€698k€3.10M▲
Assets under construction and advance payments27€60k€5.02M▲
Current assets29/58€178k€505k▲
Amounts receivable within one year40/41€31€19▼
Other amounts receivable41€31€19▼
Cash at bank and in hand54/58€178k€505k▲
Equity and liabilities
Total equity and liabilities10/49€936k€8.63M▲
Equity10/15€642k€711k▲
Contributions10/11€278k€278k=
Capital10€278k€278k=
Issued capital100€278k€278k=
Reserves13€364k€433k▲
Non-distributable reserves130/1€23k€26k▲
Legal reserve130€23k€26k▲
Distributable reserves133€341k€407k▲
Amounts payable17/49€294k€7.92M▲
Amounts payable after more than one year17€211k€5.63M▲
Financial debts170/4€211k€5.63M▲
Amounts payable within one year42/48€83k€2.29M▲
Current portion of amounts payable after more than one year42€58k€113k▲
Trade debts44-€2.13M
Suppliers440/4-€2.13M
Taxes, remuneration and social security45€25k€43k▲
Taxes450/3€25k€43k▲
Income statement
Code20242025
Remuneration, social security and pensions62€4k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€49k€66k▲
Other operating charges640/8€16k€19k▲
Gross operating margin9900€148k€243k▲
Operating profit (loss)9901€79k€158k▲
Financial income75/76B-€1k
Recurring financial income75-€1k
Financial charges65/66B€12k€66k▲
Recurring financial charges65€12k€66k▲
Profit (loss) for the period before taxes9903€67k€94k▲
Income taxes67/77€18k€25k▲
Profit (loss) for the period9904€49k€69k▲
Profit (loss) for the period to be appropriated9905€49k€69k▲
Appropriation of the result
Profit (loss) to be appropriated9906€49k€69k▲
Transfer to equity691/2€49k€69k▲
To the legal reserve6920€2k€3k▲
To other reserves6921€46k€65k▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
23-09
State Gazette act
Board meeting · Registered-office moveRegistered-office move2 facts ▸
State Gazette act
Board meeting · Registered-office move
Registered-office move2 facts ▸
- Board meeting, 05-08-2026
- Registered-office move, 3800 Sint-Truiden, Montenakenweg 525
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €500kEq €538k ▲8%
3 profitable years in a row build equity to €538k.
03-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 3 days late
2021
05-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 5 days late
2020
31-12
Financial
Back to profitnet €80k
Net result €80k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 1.10
Current ratio from 0.54 to 1.10.
06-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 6 days late
2019
31-12
Financial
Weakest financial yearnet €-15k ▼126%
Net result drops to €-15k, the lowest in the series; recovery starts the following year.
Show earlier events
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 58 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 30 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Sint-Truiden · 1 establishment unit since 2001
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.
Montenakenweg 5253800 Sint-TruidenGround area
7,248 m²
Building footprint
3,181 m²
Volume, LiDAR
419 m³
2 parcels, Flanders · tallest building 10.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Tiensesteenweg 240, 3800 Sint-Truiden
since 20012.097.823.057
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71353F0023/00E003 | Flanders | 7,148 m² | 1 · 3,129 m² | - |
| 71353F0194/00Y000 | Flanders | 100 m² | 1 · 53 m² | 10.2 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
SABCIA
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IN-LEASE PATRIMONIUM
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JRN Invest
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MARRES INVEST
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Project 44bis
BE 0541.570.794
Willebroek · Eq €711,763
Of 9,140 companies in sector 68201 we hold annual accounts for 6,769. 4,990 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded09-02-2001
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
Sources
Crossroads Bank for EnterprisesNational Bank · 26 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.