Equity
TORFS ENGINEERING has made a profit without a break since 2021.
TORFS ENGINEERING has made a profit without a break since 2021.
The 2019 accounts came 28 days late. The other nine of the last ten were filed on time.
A director left. Latest change 09-09-2026 · 2 in office.
The dashed line is the sector median: 0.1% across 14,828 companies (NACE 71, micro).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 71, micro). It does better than 69% of them on solvency, 18% on liquidity, 49% on profitability and 62% on growth.
The bankruptcy probability was computed on 05-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Liquidity is tight, with a current ratio of 1.01 (1.49 in 2024), below the usual 1.5. Short-term debt is 29.8% and cash 0% of total assets. 29.8% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 13 days before the deadline. In the sector (NACE 71), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.
Shares in 1 company, Metaalconstructie Léon TORFS
Board & ownership| Company | Total assets | Gross margin | Solvency | Staff |
|---|---|---|---|---|
| TORFS ENGINEERING Sint-Katelijne-Waver | €312,294 | -€5,473 | 70.2% | - |
| COURANT ALTERNATIF ENGINEERING Seraing | €298,691 | -€8,995 | 41.8% | - |
| GLOBAL CARE-ION I Anderlecht | €288,440 | -€71,055 | 98.5% | - |
| D.H.ENGINEERING Ixelles | €286,941 | -€3,970 | 44.6% | - |
| MAXAN ENGINEERING & ARCHITECTS Antwerp | €264,347 | -€48,489 | 9.2% | - |
| FELIN AUTOMATION Rumst | €272,977 | -€3,426 | 52.4% | - |
| WELDIT Herentals | €259,997 | €86 | 67.9% | - |
These companies have the same main activity as TORFS ENGINEERING: engineering and related technical consultancy, excluding land surveyors (NACE 71121). They are comparable in size and age: total assets between €260,000 and €299,000, founded between 1998 and 2007.
TORFS ENGINEERING files the abbreviated format. That format states no turnover. The gross margin fell from €383,937 in 2006 to -€5,473 in 2025.
SPRENGERS - TORFS holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Higher than 75% of 2,559 companies in 2025.
Higher than 23% of 2,516 companies in 2025.
Higher than 58% of 2,537 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: bottom quarter
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||||
Total assets20/58 |
312,294 | 380,881 | 409,833 | 428,849 | 411,818 | 320,162 | 855,541 | 1.9m | 1.9m | 1.9m | 1.9m | 1.8m | 1.9m | 2.0m | 1.3m | 1.3m | 1.2m | 1.4m | 1.4m | 1.4m | |
Formation expenses20 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Fixed assets21/28 |
218,088 | 218,992 | 159,493 | 160,767 | 167,196 | 171,731 | 851,187 | 1.8m | 1.8m | 1.8m | 1.9m | 1.8m | 1.8m | 1.9m | 1.2m | 1.2m | 1.2m | 1.2m | 1.2m | 1.2m | |
Intangible fixed assets21 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Tangible fixed assets22/27 |
0 | 904 | 2,197 | 3,471 | 9,900 | 14,436 | 21,911 | 11,537 | 22,306 | 34,207 | 40,005 | 11,206 | 22,412 | 38,276 | 67,333 | 32,803 | 21,986 | 43,171 | 18,604 | 36,383 | |
Land and buildings22 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Plant, machinery and equipment23 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Furniture and vehicles24 |
0 | 904 | 2,197 | 3,471 | 9,900 | 14,436 | 21,911 | 11,537 | 22,306 | 34,207 | 40,005 | 343 | 687 | 5,689 | 23,883 | 32,803 | 21,986 | 37,078 | 2,118 | 9,504 | |
Other tangible fixed assets26 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Assets under construction and advance payments27 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Financial fixed assets28 |
218,088 | 218,088 | 157,295 | 157,295 | 157,295 | 157,295 | 829,276 | 1.8m | 1.8m | 1.8m | 1.8m | 1.8m | 1.8m | 1.8m | 1.1m | 1.1m | 1.1m | 1.1m | 1.1m | 1.1m | |
Current assets29/58 |
94,206 | 161,888 | 250,340 | 268,082 | 244,623 | 148,431 | 4,354 | 77,528 | 27,108 | 11,548 | 7,530 | 8,656 | 82,206 | 150,819 | 115,132 | 109,254 | 30,946 | 203,970 | 223,898 | 220,742 | |
Amounts receivable after more than one year29 |
74,829 | 75,429 | 135,429 | 137,929 | 135,429 | 126,739 | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | |
Trade receivables290 |
- | - | - | 137,929 | 135,429 | 126,739 | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Other amounts receivable291 |
74,829 | 75,429 | 135,429 | - | - | - | - | 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 |
19,311 | 82,299 | 110,000 | 120,059 | 108,045 | 17,748 | 0 | 75,000 | 25,953 | 6,000 | - | 7,000 | 76,000 | 141,813 | 113,003 | 85,618 | 7,737 | 160,397 | 215,782 | 213,177 | |
Trade receivables40 |
0 | 82,295 | 110,000 | 120,000 | 107,807 | 17,748 | 0 | 75,000 | 25,953 | 6,000 | 0 | 7,000 | 76,000 | 108,500 | 113,000 | 85,615 | - | 143,830 | 212,534 | 205,101 | |
Other amounts receivable41 |
19,311 | 4 | 0 | 59 | 239 | - | - | 0 | - | - | 0 | - | - | 33,313 | 3 | 3 | 7,737 | 16,567 | 3,248 | 8,076 | |
Current investments50/53 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Cash at bank and in hand54/58 |
67 | 379 | 679 | 5,158 | 356 | 3,411 | 98 | 364 | 56 | 3,344 | 6,073 | 368 | 2,163 | 8,511 | - | 23,237 | 22,160 | 42,563 | 15 | 5,041 | |
Deferred charges and accrued income490/1 |
0 | 3,781 | 4,232 | 4,936 | 792 | 534 | 4,256 | 2,164 | 1,099 | 2,204 | 1,456 | 1,288 | 4,043 | 495 | 2,129 | 399 | 1,050 | 1,010 | 3,151 | 2,524 | |
| Balance sheet: equity and liabilities | |||||||||||||||||||||
Total equity and liabilities10/49 |
312,294 | 380,881 | 409,833 | 428,849 | 411,818 | 320,162 | 855,541 | 1.9m | 1.9m | 1.9m | 1.9m | 1.8m | 1.9m | 2.0m | 1.3m | 1.3m | 1.2m | 1.4m | 1.4m | 1.4m | |
Equity10/15 |
219,137 | 190,557 | 161,805 | 161,663 | 161,551 | 161,110 | 230,193 | 197,700 | 195,747 | 193,961 | 190,104 | 186,084 | 180,629 | 182,896 | 186,873 | 180,611 | 134,512 | 205,711 | 253,142 | 253,080 | |
Contributions10/11 |
208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | |
Issued capital100 |
- | - | - | - | - | - | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | 208,600 | |
Uncalled capital101 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Contributions outside capital11 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Share premium1100/10 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Revaluation surpluses12 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Reserves13 |
1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,973 | |
Non-distributable reserves130/1 |
- | - | 0 | 1,976 | 1,976 | 1,976 | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | |
Legal reserve130 |
- | - | - | - | - | - | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,976 | 1,973 | |
Reserves not available under the articles1311 |
- | - | - | 1,976 | 1,976 | 1,976 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
Own shares acquired1312 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Other1319 |
- | - | 0 | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Tax-exempt reserves132 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Distributable reserves133 |
1,976 | 1,976 | 1,976 | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Profit (loss) carried forward14 |
8,561 | -20,019 | -48,771 | -48,913 | -49,025 | -49,466 | 19,617 | -12,877 | -14,829 | -16,615 | -20,472 | -24,492 | -29,947 | -27,680 | -23,704 | -29,965 | -76,064 | -4,865 | 42,566 | 42,507 | |
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 |
93,158 | 190,324 | 248,028 | 267,186 | 250,267 | 159,053 | 625,348 | 1.7m | 1.7m | 1.7m | 1.7m | 1.6m | 1.7m | 1.8m | 1.1m | 1.1m | 1.1m | 1.2m | 1.1m | 1.1m | |
Amounts payable after more than one year17 |
0 | 81,804 | 100,000 | 202,306 | 168,976 | 107,349 | 513,645 | 1.3m | 1.4m | 1.3m | 1.2m | 1.5m | 1.6m | 1.7m | 968,495 | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | |
Financial debts170/4 |
- | - | - | - | - | 0 | 180,000 | 201,210 | 242,716 | 283,034 | 142,196 | 364,224 | 412,807 | 459,851 | 217,463 | 262,817 | 250,000 | 250,000 | 256,262 | 266,825 | |
Trade debts175 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Advances received on contracts in progress176 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Other amounts payable178/9 |
0 | 81,804 | 100,000 | 202,306 | 168,976 | 107,349 | 333,645 | 1.1m | 1.2m | 1.0m | 1.1m | 1.1m | 1.2m | 1.2m | 751,032 | 777,756 | 757,097 | 795,789 | 791,266 | 774,422 | |
Amounts payable within one year42/48 |
93,158 | 108,520 | 148,028 | 64,880 | 81,291 | 51,704 | 91,300 | 321,116 | 204,422 | 330,282 | 448,984 | 161,332 | 129,590 | 148,728 | 170,672 | 64,448 | 54,898 | 139,215 | 85,406 | 102,924 | |
Current portion of amounts payable after more than one year42 |
- | - | - | - | - | 0 | 21,273 | 41,506 | 40,317 | 39,162 | 45,148 | 51,613 | 47,044 | 48,416 | 21,248 | 19,779 | - | 77,547 | 10,563 | 10,176 | |
Financial debts43 |
- | - | - | - | - | 0 | 4,434 | 3,441 | - | - | 180,000 | 3,312 | - | 296 | 975 | - | - | - | 2,748 | - | |
Credit institutions430/8 |
- | - | - | - | - | 0 | 4,434 | 3,441 | - | - | 0 | 3,312 | - | 296 | 975 | - | - | - | 2,748 | - | |
Other loans439 |
- | - | - | - | - | - | - | 0 | - | - | 180,000 | - | - | - | - | - | - | - | - | - | |
Trade debts44 |
89,816 | 53,284 | 30,808 | 14,804 | 39,201 | 27,901 | 37,129 | 33,291 | 26,392 | 36,256 | 63,400 | 57,969 | 21,580 | 27,830 | 38,435 | 98 | 23,660 | 38,469 | 47,789 | 26,417 | |
Suppliers440/4 |
89,816 | 53,284 | 30,808 | 14,804 | 39,201 | 27,901 | 37,129 | 33,291 | 26,392 | 36,256 | 63,400 | 57,969 | 21,580 | 27,830 | 38,435 | 98 | 23,660 | 38,469 | 47,789 | 26,417 | |
Bills of exchange payable441 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Advances received on contracts in progress46 |
- | - | - | - | - | 0 | 1,000 | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Taxes, remuneration and social security45 |
3,342 | 54,320 | 68,442 | 44,297 | 37,204 | 22,288 | 27,463 | 39,669 | 37,523 | 36,119 | 33,074 | 35,760 | 27,650 | 42,916 | 15,253 | 29,944 | 4,888 | 10,024 | 11,132 | 66,330 | |
Taxes450/3 |
3,342 | 250 | 13,540 | 5,969 | 1,846 | 3,988 | 4,201 | 8,633 | 4,800 | 5,900 | 10,259 | 7,989 | 3,000 | 22,184 | 1,815 | 13,052 | 4,867 | 10,024 | 10,133 | 37,711 | |
Remuneration and social security454/9 |
0 | 54,070 | 54,902 | 38,328 | 35,359 | 18,300 | 23,262 | 31,036 | 32,723 | 30,219 | 22,816 | 27,771 | 24,650 | 20,731 | 13,438 | 16,892 | 20 | - | 999 | 28,620 | |
Other amounts payable47/48 |
0 | 915 | 48,778 | 5,778 | 4,885 | 1,515 | 0 | 203,208 | 100,189 | 218,745 | 127,362 | 12,677 | 33,316 | 29,270 | 94,761 | 14,628 | 26,350 | 13,175 | 13,175 | - | |
Accrued charges and deferred income492/3 |
- | - | - | - | - | 0 | 20,404 | 36,584 | 28,797 | 27,410 | 22,264 | 21,195 | 20,584 | 3,600 | - | - | - | - | - | 3,449 | |
| Income statement | |||||||||||||||||||||
Turnover70 |
- | - | - | - | - | - | - | - | - | - | 0 | 361,000 | - | - | - | - | - | - | - | - | |
Non-recurring operating income76A |
- | - | - | - | - | - | - | - | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Gross operating margin9900 |
-5,473 | 426,843 | 395,165 | 342,609 | 302,556 | 243,705 | 262,182 | 338,350 | 325,491 | 300,761 | 274,798 | 284,995 | 320,226 | 246,300 | 190,403 | 363,947 | 343,057 | 379,017 | 358,865 | 383,937 | |
Goods, raw materials, services and sundry goods60/61 |
- | - | - | - | - | - | - | - | - | - | 0 | 86,180 | - | - | - | - | - | - | - | - | |
Remuneration, social security and pensions62 |
-39,783 | 449,720 | 385,152 | 328,994 | 291,489 | 216,262 | 222,428 | 282,591 | 277,145 | 249,074 | 212,744 | 232,291 | 211,682 | 179,483 | 133,277 | 271,653 | 374,051 | 384,997 | 317,803 | 339,688 | |
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 |
0 | 1,293 | 3,787 | 6,429 | 7,111 | 7,476 | 14,064 | 10,768 | 11,902 | 11,901 | 21,207 | 11,206 | 16,894 | 29,627 | 35,708 | 28,982 | 21,185 | 20,763 | 17,779 | 29,580 | |
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 |
1,834 | 6,986 | 3,207 | 849 | 1,882 | 968 | 1,175 | 964 | 962 | 1,618 | 3,889 | 2,131 | 2,114 | 4,876 | 1,845 | 996 | 1,656 | 2,044 | 2,104 | 2,200 | |
Operating charges capitalised as restructuring costs649 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Non-recurring operating charges66A |
- | - | - | - | 0 | 76,980 | 986,279 | 0 | - | - | 0 | - | 57,529 | - | - | - | - | - | - | - | |
Operating profit (loss)9901 |
32,476 | -31,156 | 3,017 | 6,338 | 2,074 | -57,981 | 24,514 | 44,026 | 35,482 | 38,168 | 36,958 | 39,367 | 89,536 | 32,313 | 19,573 | 62,317 | -53,835 | -28,787 | 21,179 | 12,468 | |
Financial income75/76B |
0 | 61,229 | 283 | - | 0 | 15,000 | 1.0m | 0 | 2 | 10 | 14 | 150 | 1,374 | 1.2m | 41 | 22 | - | 194 | - | - | |
Recurring financial income75 |
0 | 61,229 | 283 | - | 0 | 15,000 | 1.0m | 0 | 2 | 10 | 14 | 150 | 1,374 | 1.2m | 41 | 22 | - | 194 | - | - | |
Non-recurring financial income76B |
- | - | - | - | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | |
Financial charges65/66B |
804 | 859 | 81 | 1,757 | 135 | 24,408 | 1.0m | 36,477 | 29,461 | 29,254 | 28,694 | 29,072 | 35,571 | 1.2m | 13,347 | 16,240 | 17,674 | 18,838 | 17,365 | 3,834 | |
Recurring financial charges65 |
804 | 859 | 81 | 1,757 | 135 | 24,408 | 27,840 | 36,477 | 29,461 | 29,254 | 28,694 | 29,072 | 35,571 | 1.2m | 13,347 | 16,240 | 17,674 | 18,838 | 17,365 | 3,834 | |
Non-recurring financial charges66B |
- | - | - | - | - | 0 | 986,279 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | |
Profit (loss) for the period before taxes9903 |
31,672 | 29,214 | 3,219 | 4,581 | 1,939 | -67,389 | 34,987 | 7,549 | 6,024 | 8,924 | 8,278 | 10,444 | -2,190 | 14,919 | 6,267 | 46,099 | -71,509 | -47,431 | 3,814 | 8,635 | |
Income taxes67/77 |
3,092 | 462 | 3,077 | 4,469 | 1,498 | 1,694 | 2,494 | 5,597 | 4,238 | 5,066 | 4,259 | 4,989 | 77 | 18,895 | 6 | - | -310 | - | 3,752 | 6,375 | |
Profit (loss) for the period9904 |
28,580 | 28,752 | 142 | 112 | 441 | -69,083 | 32,493 | 1,953 | 1,786 | 3,857 | 4,020 | 5,456 | -2,268 | -3,976 | 6,262 | 46,099 | -71,199 | -47,431 | 62 | 2,260 | |
Transfer from tax-exempt reserves789 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Transfer to tax-exempt reserves689 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
Profit (loss) for the period to be appropriated9905 |
28,580 | 28,752 | 142 | 112 | 441 | -69,083 | 32,493 | 1,953 | 1,786 | 3,857 | 4,020 | 5,456 | -2,268 | -3,976 | 6,262 | 46,099 | -71,199 | -47,431 | 62 | 2,260 | |
| Appropriation of the result | |||||||||||||||||||||
Profit (loss) to be appropriated9906 |
8,561 | -20,019 | -48,771 | -48,913 | -49,025 | -49,466 | 19,617 | -12,877 | -14,829 | -16,615 | -20,472 | -24,492 | -29,947 | -27,680 | -23,704 | -29,965 | -76,064 | -4,865 | 42,569 | 42,620 | |
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 | - | - | - | - | - | - | - | - | - | - | 3 | 113 | |
Addition to contributions691 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | - | - | |
To the legal reserve6920 |
- | - | - | - | - | - | - | 0 | - | - | 0 | - | - | - | - | - | - | - | 3 | 113 | |
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 |
- | 5.9 | 5.3 | 4.9 | 4.5 | 3.6 | 4.2 | 4.4 | 4.2 | 3.9 | 3.3 | 4 | 3.4 | 3 | 2.3 | 2.5 | 4.7 | 4.8 | 4.8 | 5 | |
Hours worked1013 |
- | 10,635 | 9,063 | 8,243 | 7,634 | 5,950 | 6,163 | 7,171 | 7,328 | 6,893 | 5,723 | 6,612 | 5,996 | 5,244 | 4,020 | 4,168 | 7,858 | 8,194 | 8,366 | 8,698 | |
| Document | |||||||||||||||||||||
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.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 20-07-2026 | 2026-00330045 | |
| 31-12-2024 | abbreviated format | 03-07-2025 | 2025-00231517 | |
| 31-12-2023 | abbreviated format | 16-07-2024 | 2024-00248546 | |
| 31-12-2022 | abbreviated format | 30-06-2023 | 2023-00200390 | |
| 31-12-2021 | abbreviated format | 13-07-2022 | 2022-20195696 | |
| 31-12-2020 | abbreviated format | 12-07-2021 | 2021-36400315 | |
| 31-12-2019 | abbreviated format | 28-08-2020 | 2020-45700361 | |
| 31-12-2018 | abbreviated format | 29-07-2019 | 2019-38800271 | |
| 31-12-2017 | abbreviated format | 28-06-2018 | 2018-23700167 | |
| 31-12-2016 | abbreviated format | 06-07-2017 | 2017-27200536 | |
| 31-12-2015 | abbreviated format | 25-07-2016 | 2016-34300563 | |
| 31-12-2014 | abbreviated format | 12-06-2015 | 2015-16500334 | |
| 31-12-2013 | abbreviated format | 22-08-2014 | 2014-44500106 | |
| 31-12-2012 | abbreviated format | 27-06-2013 | 2013-21800395 | |
| 31-12-2011 | abbreviated format | 31-07-2012 | 2012-35600240 | |
| 31-12-2010 | abbreviated format | 06-07-2011 | 2011-25700059 | |
| 31-12-2009 | abbreviated format | 13-08-2010 | 2010-40400563 | |
| 31-12-2008 | abbreviated format | 21-08-2009 | 2009-60400269 | |
| 31-12-2007 | abbreviated format | 23-06-2008 | 2008-29300106 | |
| 31-12-2006 | abbreviated format | 15-06-2007 | 2007-23500336 | |
| 31-12-2005 | abbreviated format | 10-07-2006 | 2006-42802185 | |
| 31-12-2004 | abbreviated format | 17-06-2005 | 2005-28100460 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 32,476 | -29,863 | 6,805 | 12,767 | 9,186 | -50,505 | 38,578 | 54,795 | 47,384 | 50,068 | 58,165 | 50,573 | 106,430 | 61,940 | 55,281 | 91,299 | -32,650 | -8,024 | 38,958 | 42,049 | |
| Cash flow | 28,580 | 30,045 | 3,930 | 6,540 | 7,553 | -61,607 | 46,557 | 12,721 | 13,688 | 15,758 | 25,227 | 16,662 | 14,627 | 25,651 | 41,970 | 75,080 | -50,014 | -26,668 | 17,841 | 31,840 | |
| Investment in fixed assets (approximation) | -904 | 60,793 | 2,513 | 0 | 2,576 | 0 | 24,438 | 0 | 0 | 6,103 | 50,006 | 0 | 1,030 | 2.1m | 70,238 | 39,799 | 919 | 45,329 | 0 | 1,766 | |
| Change in cash | -313 | -300 | -4,478 | 4,802 | -3,055 | 3,313 | -266 | 308 | -3,288 | -2,729 | 5,705 | -1,795 | -6,348 | - | - | 1,077 | -20,403 | 42,548 | -5,026 | - | |
| Working capital | 1,049 | 53,368 | 102,312 | 203,202 | 163,332 | 96,728 | -86,945 | -243,589 | -177,314 | -318,734 | -441,454 | -152,676 | -47,383 | 2,091 | -55,540 | 44,806 | -23,951 | 64,755 | 138,492 | 117,818 | |
| 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 | 1.01 | 1.49 | 1.69 | 4.13 | 3.01 | 2.87 | 0.05 | 0.24 | 0.13 | 0.03 | 0.02 | 0.05 | 0.63 | 1.01 | 0.67 | 1.70 | 0.56 | 1.47 | 2.62 | 2.14 | |
| Quick ratio | 1.01 | 1.49 | 1.69 | 4.13 | 3.01 | 2.87 | 0.05 | 0.24 | 0.13 | 0.03 | 0.02 | 0.05 | 0.63 | 1.01 | 0.67 | 1.70 | 0.56 | 1.47 | 2.56 | 2.14 | |
| Debt to equity | 0.43 | 1.00 | 1.53 | 1.65 | 1.55 | 0.99 | 2.72 | 8.63 | 8.53 | 8.60 | 8.80 | 8.86 | 9.63 | 9.96 | 6.10 | 6.12 | 7.90 | 5.76 | 4.48 | 4.53 | |
| 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 | -34.75 | 83.73 | 7.27 | 67.87 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| 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.
| Item | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 5 | 7 | 5 | 6 |
| full-time | 5 | 5 | 4 | 4 |
| part-time | 0 | 2 | 1 | 2 |
| in full-time equivalents | 5 | 6.5 | 4.9 | 5.1 |
| Average over the year, in full-time equivalents | 5.9 | 5.3 | 4.9 | 4.5 |
| On a permanent contract | 5 | 7 | 5 | 6 |
| Joined | 1 | 4 | 0 | 2 |
| Left | 3 | 2 | 1 | 0 |
Source: social balance sheet in the 2021 to 2024 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| 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)
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.
Source: lists of holdings in the owners' accounts
Source: list of holdings in its own 2025 accounts. Every holding stands with its own latest accounts.
| Metaalconstructie Léon TORFS
registered office since 01-10-1976 · founded in 1976 |
11 FTE (2025) 0416.441.982 |
| TORFS GROEP
registered office since 01-04-2011 |
founded in 2011 0834.408.351 |
| Name | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Metaalconstructie Léon TORFS | 93.6% | 65.55% | ||||||||||||||||||
| TORFSMANAGEMENT & INVESTMENT | 100% | 99.91% | ||||||||||||||||||
Source: list of holdings in its own accounts
The connected companies are in the list below.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Engineering tekenbureau registered office Bosstraat 46, 2861 Sint-Katelijne-Waver 7120901 Other technical testing and analysis | 13-05-2003 | 2.232.557.641 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 12027B0494/00T000 | 823 m² | 1 · 202 m² | 6.2 m · 1 |
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