TORAD
ActiveSummary
TORAD has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €148k and a net result of €17k. Equity is growing by ~13.2% per year across the filed fiscal years. Its solvency ranks better than 51% of 11322 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
69
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability75▼-2
Solvency69▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days acceptable
Liquidity short (current ratio 0.84 against 1.05 in 2024; short-term debt: 15.8% and cash: 0.1% of total assets), and 56.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Three 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 23-10-2025, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
15 d early
2023
7 d early
2022
on the day
2021
5 d early
2020
5 d late
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close24-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€148k▲ 7.3%
2024 · €138k
2019: €73k
2020: €93k
2021: €88k
2022: €95k
2023: €122k
2024: €138k
2019 → 2025
Total assets
€340k▼ 6.7%
2024 · €365k
2019: €86k
2020: €106k
2021: €378k
2022: €353k
2023: €352k
2024: €365k
2019 → 2025
Net result
€17k▼ 31.7%
2024 · €24k
2019: €5k
2020: €20k
2021: €2k
2022: €14k
2023: €34k
2024: €24k
2019 → 2025
Working capital
€-9k
2024 · €3k
2019: €70k
2020: €93k
2021: €20k
2022: €12k
2023: €18k
2024: €3k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€88k-€95k▲ 7.5%€122k▲ 28.4%€138k▲ 13.8%€148k▲ 7.3%
Operating result€4k-€25k▲ 479%€55k▲ 115%€39k▼ 28.5%€28k▼ 29.4%
Net result€2k-€14k▲ 548%€34k▲ 144%€24k▼ 29.4%€17k▼ 31.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 29% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €340k
Fixed assets
€295k ▼ 5.1%
Current assets
€45k ▼ 15.9%
Equity and liabilities €340k
Equity
€148k ▲ 7.3%
Debt
€192k ▼ 15.2%
Debt's share of the balance-sheet total falls from 62.1% to 56.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€52k▼
2024 · €61k
Cash flow
€41k▼
2024 · €46k
Current ratio
0.84▼
2024 · 1.05
Debt to equity
1.29▼
2024 · 1.64
ROE
11.2%▼
2024 · 17.5%
ROA
4.9%▼
2024 · 6.6%
Interest coverage
17.28▲
2024 · 17.11
Debt ≤ 1 year
€54k▲
2024 · €51k
Debt > 1 year
€138k▼
2024 · €175k
Income taxes
€9k▼
2024 · €11k
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 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€365k€340k▼
Fixed assets21/28€311k€295k▼
Tangible fixed assets22/27€311k€295k▼
Land and buildings22€266k€261k▼
Plant, machinery and equipment23€3k€3k▼
Furniture and vehicles24€42k€32k▼
Current assets29/58€54k€45k▼
Amounts receivable after more than one year29€45k€0▼
Other amounts receivable291€45k€0▼
Amounts receivable within one year40/41-€45k
Other amounts receivable41-€45k
Cash at bank and in hand54/58€9k€394▼
Equity and liabilities
Total equity and liabilities10/49€365k€340k▼
Equity10/15€138k€148k▲
Contributions10/11€7k€7k=
Reserves13€132k€142k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€130k€140k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€227k€192k▼
Amounts payable after more than one year17€175k€138k▼
Financial debts170/4€175k€138k▼
Amounts payable within one year42/48€51k€54k▲
Current portion of amounts payable after more than one year42€37k€37k▲
Trade debts44€3k€419▼
Suppliers440/4€3k€419▼
Taxes, remuneration and social security45€8k€10k▲
Taxes450/3€8k€10k▲
Other amounts payable47/48€3k€6k▲
Income statement
Code20242025
Non-recurring operating income76A€5k€0▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€22k€25k▲
Other operating charges640/8€1k€2k▲
Gross operating margin9900€63k€55k▼
Operating profit (loss)9901€39k€28k▼
Financial income75/76B€0€689▲
Recurring financial income75€0€689▲
Financial charges65/66B€4k€3k▼
Recurring financial charges65€4k€3k▼
Profit (loss) for the period before taxes9903€36k€25k▼
Income taxes67/77€11k€9k▼
Profit (loss) for the period9904€24k€17k▼
Profit (loss) for the period to be appropriated9905€24k€17k▼
Appropriation of the result
Profit (loss) to be appropriated9906€24k€17k▼
Transfer from equity791/2-€2k
Transfer to equity691/2€17k€12k▼
To other reserves6921€17k€12k▼
Profit to be distributed694/7€8k€6k▼
Return on contributions (dividend)694€8k€6k▼
The notes to these accounts (6 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
2025
23-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
16-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
24-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Highest result since 2019net €34k ▲144%
Operating result €55k, net result €34k, both a record.
31-03
Financial
Equity above €100kEq €122k ▲28.4%
5 profitable years in a row build equity to €122k.
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
26-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-03
Financial
Weakest financial yearnet €2k ▼88.9%
Net result drops to €2k, the lowest in the series; recovery starts the following year.
2020
05-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 5 days late
2019
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
05-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 5 days late
2017
31-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
27-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 178 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Zwalm · 1 establishment unit since 2009
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.
Kerkstraat(Hund) 329630 ZwalmGround area
969 m²
Building footprint
129 m²
Volume, LiDAR
729 m³
Parcel 45016A0374/00P000, Flanders · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
TORAD
since 20092.177.935.951
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45016A0374/00P000 | Flanders | 969 m² | 1 · 129 m² | 8.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel 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
ASSURANCES LAMBERT-MAESEELE
BE 0894.423.142
Charleroi · Eq €148,534
HIC
BE 0836.542.450
Kortrijk · Eq €148,276
CONSJENS
BE 0772.650.530
Antwerpen · Eq €147,982
MAXIMIZE
BE 0897.410.544
Brecht · Eq €149,128
IMMOFAC
BE 0438.662.506
Brussel · Eq €149,271
Of 6,155 companies in sector 46190 we hold annual accounts for 2,570. 1,936 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 formPrivate limited company
Founded10-04-2009
Fiscal year end31-03
Activities, NACEBEL 2025
46190Agents in non-specialised wholesale trade
43230Insulation installation
43350Other building finishing work
81220Other building cleaning and industrial cleaning
Sources
Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.