TORFS ENGINEERING
ActiveTORFS ENGINEERING has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €219k and a net result of €29k. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 76% of 2004 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
79
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability80▲+52
Solvency95▲+20
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17k at 30 days acceptable
Liquidity tight (current ratio 1.01 against 1.49 in 2024; short-term debt: 29.8% and cash: 0% of total assets), and 29.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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 71
Relative position
BE, all sectors
reference
Sector 71
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
70.2%
Return on assets
9.2%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €219k
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 20-07-2026, 11 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
11 d early
2024
28 d early
2023
15 d early
2022
31 d early
2021
18 d early
2020
19 d early
2019
28 d late
← before the deadline
after the deadline →
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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€219k▲ 15.0%
2024 · €191k
2018: €198k
2019: €230k
2020: €161k
2021: €162k
2022: €162k
2023: €162k
2024: €191k
2018 → 2025
Total assets
€312k▼ 18.0%
2024 · €381k
2018: €1.90M
2019: €856k
2020: €320k
2021: €412k
2022: €429k
2023: €410k
2024: €381k
2018 → 2025
Net result
€29k▼ 0.6%
2024 · €29k
2018: €2k
2019: €32k
2020: €-69k
2021: €441
2022: €112
2023: €142
2024: €29k
2018 → 2025
Working capital
€1k▼ 98.0%
2024 · €53k
2018: €-244k
2019: €-87k
2020: €97k
2021: €163k
2022: €203k
2023: €102k
2024: €53k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€162k-€162k▲ 0.1%€162k▲ 0.1%€191k▲ 17.8%€219k▲ 15.0%
Operating result€2k-€6k▲ 206%€3k▼ 52.4%€-31k€32k
Net result€441-€112▼ 74.7%€142▲ 27.7%€29k▲ 20,080%€29k▼ 0.6%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €32k after a loss of €31k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €312k
Fixed assets
€218k▼ 0.4%
Current assets
€94k▼ 41.8%
Equity and liabilities €312k
Equity
€219k▲ 15.0%
Debt
€93k▼ 51.1%
The debt ratio falls from 50.0% to 29.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€32k▲
2024 · €-30k
Cash flow
€29k▼
2024 · €30k
Solvency
70.2%▲
2024 · 50.0%
Current ratio
1.01▼
2024 · 1.49
Quick ratio
1.01▼
2024 · 1.49
Debt / equity
0.43▼
2024 · 1.00
ROE
13.0%▼
2024 · 15.1%
ROA
9.2%▲
2024 · 7.5%
Interest coverage
40.38▲
2024 · -34.75
Debt
€93k▼
2024 · €190k
Debt ≤ 1 year
€93k▼
2024 · €109k
Debt > 1 year
€0▼
2024 · €82k
Income taxes
€3k▲
2024 · €462
Staff costs
€-40k▼
2024 · €450k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€381k€312k▼
Fixed assets21/28€219k€218k▼
Tangible fixed assets22/27€904€0▼
Furniture and vehicles24€904€0▼
Financial fixed assets28€218k€218k=
Current assets29/58€162k€94k▼
Amounts receivable after more than one year29€75k€75k▼
Other amounts receivable291€75k€75k▼
Amounts receivable within one year40/41€82k€19k▼
Trade receivables40€82k€0▼
Other amounts receivable41€4€19k▲
Cash at bank and in hand54/58€379€67▼
Deferred charges and accrued income490/1€4k€0▼
Equity and liabilities
Total equity and liabilities10/49€381k€312k▼
Equity10/15€191k€219k▲
Contributions10/11€209k€209k=
Reserves13€2k€2k=
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€-20k€9k▲
Amounts payable17/49€190k€93k▼
Amounts payable after more than one year17€82k€0▼
Other amounts payable178/9€82k€0▼
Amounts payable within one year42/48€109k€93k▼
Trade debts44€53k€90k▲
Suppliers440/4€53k€90k▲
Taxes, remuneration and social security45€54k€3k▼
Taxes450/3€250€3k▲
Remuneration and social security454/9€54k€0▼
Other amounts payable47/48€915€0▼
Income statement
Code20242025
Remuneration, social security and pensions62€450k€-40k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€0▼
Other operating charges640/8€7k€2k▼
Gross operating margin9900€427k€-5k▼
Operating profit (loss)9901€-31k€32k▲
Financial income75/76B€61k€0▼
Recurring financial income75€61k€0▼
Financial charges65/66B€859€804▼
Recurring financial charges65€859€804▼
Profit (loss) for the period before taxes9903€29k€32k▲
Income taxes67/77€462€3k▲
Profit (loss) for the period9904€29k€29k▼
Profit (loss) for the period to be appropriated9905€29k€29k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-20k€9k▲
Profit (loss) brought forward from the previous period14P€-49k€-20k▲
Social balance
Average headcount (FTE)90875.9-
The notes to these accounts (7 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
09-09
State Gazette act
General meeting · Director resignationGeneral meeting · Director resignation2 facts ▸
State Gazette act
General meeting · Director resignation
General meeting · Director resignation2 facts ▸
- General meeting, 2026-06-05
- Director resignation, Jan Torfs (bestuurder)
20-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Equity above €200kEq €219k ▲15%
5 profitable years in a row build equity to €219k.
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €441
Net result €441 after one loss-making year.
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €-69k ▼313%
Net result drops to €-69k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 60current ratio 2.87
Current ratio from 0.05 to 2.87; short-term debt falls from €91k to €52k.
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 28 days late
2019
31-12
Financial
Highest result since 2018net €32k ▲1564%
Net result €32k, the highest in the series.
31-12
Financial
Equity above €200kEq €230k ▲16.4%
2 profitable years in a row build equity to €230k.
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
06-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2026
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.
05-06-2026
Resigned as Director
Location & real-estate footprint
Registered office, Sint-Katelijne-Waver · 1 establishment unit since 2003
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.
Bosstraat 462861 Sint-Katelijne-WaverGround area
823 m²
Building footprint
202 m²
Volume, LiDAR
798 m³
Parcel 12027B0494/00T000, Flanders · tallest building 6.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Engineering tekenbureau
since 20032.232.557.641
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12027B0494/00T000 | Flanders | 823 m² | 1 · 202 m² | 6.2 m · 1 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.
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INGENION
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VAN REETH
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Of 11,555 companies in sector 71121 we hold annual accounts for 6,562. 5,062 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded14-03-2003
Fiscal year end31-12
Activities, NACEBEL
71121Engineering and related technical consultancy, excluding land surveyors
74203
25110Manufacture of metal structures and parts of structures
71209Other technical testing and analysis
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.