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TORFS ENGINEERING

Active Private limited companyfounded 2003active for 23 yearsBosstraat 46, 2861 Sint-Katelijne-WaverKBO/BCE: BE 0479.770.809 subsidiary of SPRENGERS - TORFS
TORFS ENGINEERING
Financial year 2025
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Annual accounts 2025

abbreviated format, filed on 20-07-2026, 11 days before the deadline
Gross margin
-€5,473
▼ €432,316
Operating result
€32,476
▲ €63,632
EBITDA
€32,476
▲ €62,339
Cash flow
€28,580
▼ 4.9%
Solvency
70.2%
▲ 20.1 percentage points
Current ratio
1.01
▼ 0.48

Turnover and EBIT margin are not published. The abbreviated format does not require them.

Money flows

no detail for 2025

Balance sheet

balance sheet total €312,294 on 31-12-2025
What the company ownsHow it is paid for

Change in equityin euro

Change in cashin euro

Position in the sector

Compare with sector

Solvency70.2%

Higher than 75% of 2,559 companies in 2025.

Current ratio1.01

Higher than 23% of 2,516 companies in 2025.

Return on assets9.2%

Higher than 58% of 2,537 companies in 2025.

TORFS ENGINEERING Middle half of the sector 80% of the sector Abbreviated accounts in architecture and engineering (NACE 71)

Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: bottom quarter

Staff

Staff cost per FTE

Staff costs divided by the average number of full-time equivalents.

Joined and left

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
Balance sheet: assets
Total assets20/58 312,294380,881409,833428,849411,818320,162855,5411.9m1.9m1.9m1.9m1.8m1.9m2.0m1.3m1.3m1.2m1.4m1.4m1.4m
Formation expenses20 -------0--0---------
Fixed assets21/28 218,088218,992159,493160,767167,196171,731851,1871.8m1.8m1.8m1.9m1.8m1.8m1.9m1.2m1.2m1.2m1.2m1.2m1.2m
Intangible fixed assets21 -------0--0---------
Tangible fixed assets22/27 09042,1973,4719,90014,43621,91111,53722,30634,20740,00511,20622,41238,27667,33332,80321,98643,17118,60436,383
Land and buildings22 -------0--0---------
Plant, machinery and equipment23 -------0--0---------
Furniture and vehicles24 09042,1973,4719,90014,43621,91111,53722,30634,20740,0053436875,68923,88332,80321,98637,0782,1189,504
Other tangible fixed assets26 -------0--0---------
Assets under construction and advance payments27 -------0--0---------
Financial fixed assets28 218,088218,088157,295157,295157,295157,295829,2761.8m1.8m1.8m1.8m1.8m1.8m1.8m1.1m1.1m1.1m1.1m1.1m1.1m
Current assets29/58 94,206161,888250,340268,082244,623148,4314,35477,52827,10811,5487,5308,65682,206150,819115,132109,25430,946203,970223,898220,742
Amounts receivable after more than one year29 74,82975,429135,429137,929135,429126,739-0------------
Trade receivables290 ---137,929135,429126,739-0--0---------
Other amounts receivable291 74,82975,429135,429----0--0---------
Stocks and contracts in progress3 -------0--0-------4,950-
Stocks30/36 -------0--0---------
Contracts in progress37 -------0--0-------4,950-
Amounts receivable within one year40/41 19,31182,299110,000120,059108,04517,748075,00025,9536,000-7,00076,000141,813113,00385,6187,737160,397215,782213,177
Trade receivables40 082,295110,000120,000107,80717,748075,00025,9536,00007,00076,000108,500113,00085,615-143,830212,534205,101
Other amounts receivable41 19,3114059239--0--0--33,313337,73716,5673,2488,076
Current investments50/53 -------0--0---------
Cash at bank and in hand54/58 673796795,1583563,41198364563,3446,0733682,1638,511-23,23722,16042,563155,041
Deferred charges and accrued income490/1 03,7814,2324,9367925344,2562,1641,0992,2041,4561,2884,0434952,1293991,0501,0103,1512,524
Balance sheet: equity and liabilities
Total equity and liabilities10/49 312,294380,881409,833428,849411,818320,162855,5411.9m1.9m1.9m1.9m1.8m1.9m2.0m1.3m1.3m1.2m1.4m1.4m1.4m
Equity10/15 219,137190,557161,805161,663161,551161,110230,193197,700195,747193,961190,104186,084180,629182,896186,873180,611134,512205,711253,142253,080
Contributions10/11 208,600208,600208,600208,600208,600208,600208,600208,600208,600208,600208,600208,600208,600208,600208,600208,600208,600208,600208,600208,600
Issued capital100 ------208,600208,600208,600208,600208,600208,600208,600208,600208,600208,600208,600208,600208,600208,600
Uncalled capital101 -------0--0---------
Contributions outside capital11 -------0--0---------
Share premium1100/10 -------0--0---------
Revaluation surpluses12 -------0--0---------
Reserves13 1,9761,9761,9761,9761,9761,9761,9761,9761,9761,9761,9761,9761,9761,9761,9761,9761,9761,9761,9761,973
Non-distributable reserves130/1 --01,9761,9761,976-0------------
Legal reserve130 ------1,9761,9761,9761,9761,9761,9761,9761,9761,9761,9761,9761,9761,9761,973
Reserves not available under the articles1311 ---1,9761,9761,976--------------
Own shares acquired1312 -------0--0---------
Other1319 --0----0--0---------
Tax-exempt reserves132 -------0--0---------
Distributable reserves133 1,9761,9761,976----0--0---------
Profit (loss) carried forward14 8,561-20,019-48,771-48,913-49,025-49,46619,617-12,877-14,829-16,615-20,472-24,492-29,947-27,680-23,704-29,965-76,064-4,86542,56642,507
Investment grants15 -------0--0---------
Advance to shareholders on the distribution of net assets19 -------0------------
Provisions and deferred taxes16 -------0------------
Provisions for liabilities and charges160/5 -------0--0---------
Pensions and similar obligations160 -------0------------
Taxes161 -------0------------
Major repairs and maintenance162 -------0------------
Environmental obligations163 -------0------------
Other liabilities and charges164/5 -------0------------
Deferred taxes168 -------0--0---------
Amounts payable17/49 93,158190,324248,028267,186250,267159,053625,3481.7m1.7m1.7m1.7m1.6m1.7m1.8m1.1m1.1m1.1m1.2m1.1m1.1m
Amounts payable after more than one year17 081,804100,000202,306168,976107,349513,6451.3m1.4m1.3m1.2m1.5m1.6m1.7m968,4951.0m1.0m1.0m1.0m1.0m
Financial debts170/4 -----0180,000201,210242,716283,034142,196364,224412,807459,851217,463262,817250,000250,000256,262266,825
Trade debts175 -------0--0---------
Advances received on contracts in progress176 -------0--0---------
Other amounts payable178/9 081,804100,000202,306168,976107,349333,6451.1m1.2m1.0m1.1m1.1m1.2m1.2m751,032777,756757,097795,789791,266774,422
Amounts payable within one year42/48 93,158108,520148,02864,88081,29151,70491,300321,116204,422330,282448,984161,332129,590148,728170,67264,44854,898139,21585,406102,924
Current portion of amounts payable after more than one year42 -----021,27341,50640,31739,16245,14851,61347,04448,41621,24819,779-77,54710,56310,176
Financial debts43 -----04,4343,441--180,0003,312-296975---2,748-
Credit institutions430/8 -----04,4343,441--03,312-296975---2,748-
Other loans439 -------0--180,000---------
Trade debts44 89,81653,28430,80814,80439,20127,90137,12933,29126,39236,25663,40057,96921,58027,83038,4359823,66038,46947,78926,417
Suppliers440/4 89,81653,28430,80814,80439,20127,90137,12933,29126,39236,25663,40057,96921,58027,83038,4359823,66038,46947,78926,417
Bills of exchange payable441 -------0--0---------
Advances received on contracts in progress46 -----01,0000--0---------
Taxes, remuneration and social security45 3,34254,32068,44244,29737,20422,28827,46339,66937,52336,11933,07435,76027,65042,91615,25329,9444,88810,02411,13266,330
Taxes450/3 3,34225013,5405,9691,8463,9884,2018,6334,8005,90010,2597,9893,00022,1841,81513,0524,86710,02410,13337,711
Remuneration and social security454/9 054,07054,90238,32835,35918,30023,26231,03632,72330,21922,81627,77124,65020,73113,43816,89220-99928,620
Other amounts payable47/48 091548,7785,7784,8851,5150203,208100,189218,745127,36212,67733,31629,27094,76114,62826,35013,17513,175-
Accrued charges and deferred income492/3 -----020,40436,58428,79727,41022,26421,19520,5843,600-----3,449
Income statement
Turnover70 ----------0361,000--------
Non-recurring operating income76A ----------0---------
Gross operating margin9900 -5,473426,843395,165342,609302,556243,705262,182338,350325,491300,761274,798284,995320,226246,300190,403363,947343,057379,017358,865383,937
Goods, raw materials, services and sundry goods60/61 ----------086,180--------
Remuneration, social security and pensions62 -39,783449,720385,152328,994291,489216,262222,428282,591277,145249,074212,744232,291211,682179,483133,277271,653374,051384,997317,803339,688
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 01,2933,7876,4297,1117,47614,06410,76811,90211,90121,20711,20616,89429,62735,70828,98221,18520,76317,77929,580
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 -------0--0---------
Provisions for liabilities and charges: additions (uses and reversals)635/8 -------0--0---------
Other operating charges640/8 1,8346,9863,2078491,8829681,1759649621,6183,8892,1312,1144,8761,8459961,6562,0442,1042,200
Operating charges capitalised as restructuring costs649 -------0--0---------
Non-recurring operating charges66A ----076,980986,2790--0-57,529-------
Operating profit (loss)9901 32,476-31,1563,0176,3382,074-57,98124,51444,02635,48238,16836,95839,36789,53632,31319,57362,317-53,835-28,78721,17912,468
Financial income75/76B 061,229283-015,0001.0m0210141501,3741.2m4122-194--
Recurring financial income75 061,229283-015,0001.0m0210141501,3741.2m4122-194--
Non-recurring financial income76B -------0------------
Financial charges65/66B 804859811,75713524,4081.0m36,47729,46129,25428,69429,07235,5711.2m13,34716,24017,67418,83817,3653,834
Recurring financial charges65 804859811,75713524,40827,84036,47729,46129,25428,69429,07235,5711.2m13,34716,24017,67418,83817,3653,834
Non-recurring financial charges66B -----0986,2790------------
Profit (loss) for the period before taxes9903 31,67229,2143,2194,5811,939-67,38934,9877,5496,0248,9248,27810,444-2,19014,9196,26746,099-71,509-47,4313,8148,635
Income taxes67/77 3,0924623,0774,4691,4981,6942,4945,5974,2385,0664,2594,9897718,8956--310-3,7526,375
Profit (loss) for the period9904 28,58028,752142112441-69,08332,4931,9531,7863,8574,0205,456-2,268-3,9766,26246,099-71,199-47,431622,260
Transfer from tax-exempt reserves789 -------0--0---------
Transfer to tax-exempt reserves689 -------0--0---------
Profit (loss) for the period to be appropriated9905 28,58028,752142112441-69,08332,4931,9531,7863,8574,0205,456-2,268-3,9766,26246,099-71,199-47,431622,260
Appropriation of the result
Profit (loss) to be appropriated9906 8,561-20,019-48,771-48,913-49,025-49,46619,617-12,877-14,829-16,615-20,472-24,492-29,947-27,680-23,704-29,965-76,064-4,86542,56942,620
Profit (loss) brought forward from the previous period14P -20,019-48,771-48,913-49,025-49,466---------------
Transfer from equity791/2 -------0--0---------
Transfer to equity691/2 -------0----------3113
Addition to contributions691 -------0--0---------
To the legal reserve6920 -------0--0-------3113
To other reserves6921 -------0--0---------
Profit to be distributed694/7 -------0------------
Return on contributions (dividend)694 -------0--0---------
Directors or managers695 -------0--0---------
Employees696 -------0------------
Social balance sheet
Average staff (FTE)9087 -5.95.34.94.53.64.24.44.23.93.343.432.32.54.74.84.85
Hours worked1013 -10,6359,0638,2437,6345,9506,1637,1717,3286,8935,7236,6125,9965,2444,0204,1687,8588,1948,3668,698
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The accounts for 2 older financial years (2004-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 20-07-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2025 abbreviated format 20-07-2026 2026-00330045 PDF
31-12-2024 abbreviated format 03-07-2025 2025-00231517 PDF
31-12-2023 abbreviated format 16-07-2024 2024-00248546 PDF
31-12-2022 abbreviated format 30-06-2023 2023-00200390 PDF
31-12-2021 abbreviated format 13-07-2022 2022-20195696 PDF
31-12-2020 abbreviated format 12-07-2021 2021-36400315 PDF
31-12-2019 abbreviated format 28-08-2020 2020-45700361 PDF
31-12-2018 abbreviated format 29-07-2019 2019-38800271 PDF
31-12-2017 abbreviated format 28-06-2018 2018-23700167 PDF
31-12-2016 abbreviated format 06-07-2017 2017-27200536 PDF
31-12-2015 abbreviated format 25-07-2016 2016-34300563 PDF
31-12-2014 abbreviated format 12-06-2015 2015-16500334 PDF
31-12-2013 abbreviated format 22-08-2014 2014-44500106 PDF
31-12-2012 abbreviated format 27-06-2013 2013-21800395 PDF
31-12-2011 abbreviated format 31-07-2012 2012-35600240 PDF
31-12-2010 abbreviated format 06-07-2011 2011-25700059 PDF
31-12-2009 abbreviated format 13-08-2010 2010-40400563 PDF
31-12-2008 abbreviated format 21-08-2009 2009-60400269 PDF
31-12-2007 abbreviated format 23-06-2008 2008-29300106 PDF
31-12-2006 abbreviated format 15-06-2007 2007-23500336 PDF
31-12-2005 abbreviated format 10-07-2006 2006-42802185 PDF
31-12-2004 abbreviated format 17-06-2005 2005-28100460 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
EBITDA 32,476-29,8636,80512,7679,186-50,50538,57854,79547,38450,06858,16550,573106,43061,94055,28191,299-32,650-8,02438,95842,049
Cash flow 28,58030,0453,9306,5407,553-61,60746,55712,72113,68815,75825,22716,66214,62725,65141,97075,080-50,014-26,66817,84131,840
Investment in fixed assets (approximation) -90460,7932,51302,576024,438006,10350,00601,0302.1m70,23839,79991945,32901,766
Change in cash -313-300-4,4784,802-3,0553,313-266308-3,288-2,7295,705-1,795-6,348--1,077-20,40342,548-5,026-
Working capital 1,04953,368102,312203,202163,33296,728-86,945-243,589-177,314-318,734-441,454-152,676-47,3832,091-55,54044,806-23,95164,755138,492117,818
EBIT margin -----------10.9%--------
Solvency 70.2%50.0%39.5%37.7%39.2%50.3%26.9%10.4%10.5%10.4%10.2%10.1%9.4%9.1%14.1%14.0%11.2%14.8%18.3%18.1%
Current ratio 1.011.491.694.133.012.870.050.240.130.030.020.050.631.010.671.700.561.472.622.14
Quick ratio 1.011.491.694.133.012.870.050.240.130.030.020.050.631.010.671.700.561.472.562.14
Debt to equity 0.431.001.531.651.550.992.728.638.538.608.808.869.639.966.106.127.905.764.484.53
ROE 13.0%15.1%0.1%0.1%0.3%-42.9%14.1%1.0%0.9%2.0%2.1%2.9%-1.3%-2.2%3.4%25.5%-52.9%-23.1%0.0%0.9%
ROA 9.2%7.5%0.0%0.0%0.1%-21.6%3.8%0.1%0.1%0.2%0.2%0.3%-0.1%-0.2%0.5%3.6%-6.0%-3.4%0.0%0.2%
Interest coverage 40.38-34.7583.737.2767.87---------------
Customer credit -----------7 days--------
Supplier credit -----------246 days--------

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Social balance sheet

Item31-12-202431-12-202331-12-202231-12-2021
Employees at the balance-sheet date5756
full-time5544
part-time0212
in full-time equivalents56.54.95.1
Average over the year, in full-time equivalents5.95.34.94.5
On a permanent contract5756
Joined1402
Left3210

Source: social balance sheet in the 2021 to 2024 annual accounts

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets--€2,513-€2,576
Depreciation and write-downs of the year€0€1,293€3,787€6,429€7,111

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on TORFS ENGINEERING

The operating result for 2025 is a profit of €32,476, after a loss of €31,156 in 2024. It is the highest result since 2018.

Debt's share of the balance-sheet total falls from 50.0% to 29.8%. Equity is higher and debt is lower.

Next steps

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