Tormeco
ActiveSummary
Tormeco has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €278,183 and a net result of €41,878. Equity is growing by ~27.3% per year across the filed fiscal years. Its solvency ranks better than 31% of 1941 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▼-1
Solvency52▲+2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €19,000 at 30 days acceptable
Liquidity ample (current ratio 4.02 against 10.59 in 2024; short-term debt: 2.3% and cash: 8.4% of total assets), but 72.6% of the assets are financed with debt.
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Signals
Four 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 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
27.4%
Return on assets
4.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
27 d late
2024
28 d late
2023
26 d late
2022
13 d early
2021
29 d late
2020
94 d early
2019
3 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 1 day after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
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. Usually files around 27 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€278,183▲ 9.3%
2024 · €254,481
Total assets
€1.0m▲ 0.7%
2024 · €1.0m
Net result
€41,878▼ 11.8%
2024 · €47,499
Working capital
€70,691▲ 58.8%
2024 · €44,512
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€30,040▲ 57.4%€54,028▲ 79.9%€37,785▼ 30.1%€48,108▲ 27.3%€42,026▼ 12.6%
Net result€28,810within the sector's middle half▲ 44.4%€52,284above the sector's middle half▲ 81.5%€36,363above the sector's middle half▼ 30.5%€47,499above the sector's middle half▲ 30.6%€41,878above the sector's middle half▼ 11.8%
Equity€118,336within the sector's middle half▲ 32.2%€170,619within the sector's middle half▲ 44.2%€206,982above the sector's middle half▲ 21.3%€254,481above the sector's middle half▲ 22.9%€278,183above the sector's middle half▲ 9.3%
Total assets€945,087above the sector's middle half▲ 1.6%€1.1mabove the sector's middle half▲ 17.1%€1.0mabove the sector's middle half▼ 6.9%€1.0mabove the sector's middle half▼ 2.0%€1.0mabove the sector's middle half▲ 0.7%
Debt€826,751▼ 1.7%€935,699▲ 13.2%€823,229▼ 12.0%€754,642▼ 8.3%€738,445▼ 2.1%
Working capital-€283,552below the sector's middle half▲ 6.0%-€135,761below the sector's middle half▲ 52.1%-€12,963below the sector's middle half▲ 90.5%€44,512within the sector's middle half€70,691within the sector's middle half▲ 58.8%
Solvency12.5%below the sector's middle half▲ 2.9pp15.4%below the sector's middle half▲ 2.9pp20.1%below the sector's middle half▲ 4.7pp25.2%within the sector's middle half▲ 5.1pp27.4%within the sector's middle half▲ 2.1pp
Current ratio0.07below the sector's middle half▼ 0.050.35below the sector's middle half▲ 0.280.72below the sector's middle half▲ 0.3710.59above the sector's middle half▲ 9.874.02above the sector's middle half▼ 6.57
Return on assets (ROA)3.0%within the sector's middle half▲ 0.9pp4.7%within the sector's middle half▲ 1.7pp3.5%within the sector's middle half▼ 1.2pp4.7%within the sector's middle half▲ 1.2pp4.1%within the sector's middle half▼ 0.6pp
above
within
below
the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 13% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€922,492 ▼ 3.9%
Current assets
€94,135 ▲ 91.5%
Equity and liabilities €1.0m
Equity
€278,183 ▲ 9.3%
Debt
€738,445 ▼ 2.1%
Debt's share of the balance-sheet total falls from 74.8% to 72.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€79,503▼
2024 · €85,585
Cash flow
€79,354▼
2024 · €84,975
Debt to equity
2.65▼
2024 · 2.97
ROE
15.1%▼
2024 · 18.7%
Interest coverage
2915.38▲
2024 · 242.68
Debt ≤ 1 year
€23,445▲
2024 · €4,642
Debt > 1 year
€715,000▼
2024 · €750,000
Income taxes
€264▲
2024 · €257
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,681 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 97% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.1%
went bankrupt
1.9%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 4,681 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €77 | €78 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30,683 | €34,716 | €37,459 | €37,476 | €37,476 | = |
| Other operating charges640/8 | €1,410 | €8,094 | €8,137 | €8,569 | €16,217 | ▲ 89.2% |
| Gross operating margin9900 | €62,210 | €96,915 | €83,381 | €94,154 | €95,719 | ▲ 1.7% |
| Operating profit (loss)9901 | €30,040 | €54,028 | €37,785 | €48,108 | €42,026 | ▼ 12.6% |
| Financial income75/76B | €1 | €20 | €37 | - | €143 | - |
| Recurring financial income75 | €1 | €20 | €37 | - | €143 | - |
| Non-recurring financial income76B | €1 | - | - | - | - | - |
| Financial charges65/66B | €1,016 | €1,532 | €1,211 | €353 | €27 | ▼ 92.3% |
| Recurring financial charges65 | €137 | €1,532 | €1,211 | €353 | €27 | ▼ 92.3% |
| Non-recurring financial charges66B | €879 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €29,025 | €52,516 | €36,611 | €47,756 | €42,142 | ▼ 11.8% |
| Income taxes67/77 | €214 | €232 | €248 | €257 | €264 | ▲ 2.5% |
| Profit (loss) for the period9904 | €28,810 | €52,284 | €36,363 | €47,499 | €41,878 | ▼ 11.8% |
| Profit (loss) for the period to be appropriated9905 | €28,810 | €52,284 | €36,363 | €47,499 | €41,878 | ▼ 11.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €945,087 | €1.1m | €1.0m | €1.0m | €1.0m | ▲ 0.7% |
| Fixed assets21/28 | €924,888 | €1.0m | €997,445 | €959,968 | €922,492 | ▼ 3.9% |
| Tangible fixed assets22/27 | €924,888 | €1.0m | €997,445 | €959,968 | €922,492 | ▼ 3.9% |
| Land and buildings22 | €922,364 | €1.0m | €995,130 | €958,154 | €921,178 | ▼ 3.9% |
| Plant, machinery and equipment23 | €2,524 | €1,774 | €2,315 | €1,814 | €1,314 | ▼ 27.6% |
| Current assets29/58 | €20,199 | €72,439 | €32,766 | €49,154 | €94,135 | ▲ 91.5% |
| Amounts receivable within one year40/41 | €60 | - | €2,466 | €2,503 | €5,107 | ▲ 104% |
| Other amounts receivable41 | €60 | - | €2,466 | €2,503 | €5,107 | ▲ 104% |
| Cash at bank and in hand54/58 | €19,187 | €71,423 | €28,434 | €45,385 | €85,762 | ▲ 89.0% |
| Deferred charges and accrued income490/1 | €952 | €1,016 | €1,866 | €1,266 | €3,266 | ▲ 158% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €945,087 | €1.1m | €1.0m | €1.0m | €1.0m | ▲ 0.7% |
| Equity10/15 | €118,336 | €170,619 | €206,982 | €254,481 | €278,183 | ▲ 9.3% |
| Contributions10/11 | €285,400 | €285,400 | €285,400 | €285,400 | €267,750 | ▼ 6.2% |
| Reserves13 | €136,904 | €136,904 | €136,904 | €136,904 | €10,432 | ▼ 92.4% |
| Non-distributable reserves130/1 | €74,418 | €69,410 | - | - | - | - |
| Reserves not available under the articles1311 | €69,410 | €69,410 | - | - | - | - |
| Other1319 | €5,008 | - | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | - | €5,008 | - |
| Distributable reserves133 | €62,485 | €67,493 | €136,904 | €136,904 | €5,424 | ▼ 96.0% |
| Profit (loss) carried forward14 | -€303,968 | -€251,684 | -€215,322 | -€167,823 | - | - |
| Amounts payable17/49 | €826,751 | €935,699 | €823,229 | €754,642 | €738,445 | ▼ 2.1% |
| Amounts payable after more than one year17 | €523,000 | €727,500 | €777,500 | €750,000 | €715,000 | ▼ 4.7% |
| Financial debts170/4 | €523,000 | €727,500 | €777,500 | €750,000 | €715,000 | ▼ 4.7% |
| Amounts payable within one year42/48 | €303,751 | €208,199 | €45,729 | €4,642 | €23,445 | ▲ 405% |
| Current portion of amounts payable after more than one year42 | - | €153,673 | - | - | - | - |
| Trade debts44 | - | - | €370 | - | €262 | - |
| Suppliers440/4 | - | - | €370 | - | €262 | - |
| Taxes, remuneration and social security45 | €214 | €447 | €480 | €505 | €679 | ▲ 34.3% |
| Taxes450/3 | €214 | €447 | €480 | €505 | €679 | ▲ 34.3% |
| Other amounts payable47/48 | €303,537 | €54,079 | €44,879 | €4,137 | €22,504 | ▲ 444% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €28,810 | €52,284 | €36,363 | €47,499 | €41,878 | ▼ 11.8% |
| + Depreciation and write-downs630 | €30,683 | €34,716 | €37,459 | €37,476 | €37,476 | = |
| Operating cash flow (approximation) | €59,493 | €87,000 | €73,822 | €84,975 | €79,354 | ▼ 6.6% |
| Investment in fixed assets (approximation) | - | -€143,708 | -€1,024 | €0 | €0 | - |
| Change in cash | - | €52,235 | -€42,989 | €16,951 | €40,377 | ▲ 138% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
31-12
Financial
Liquidity times 15current ratio 10.59
Current ratio from 0.72 to 10.59; short-term debt falls from €45,729 to €4,642.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
31-12
Financial
Equity above €200,000Eq €206,982 ▲21.3%
6 profitable years in a row build equity to €206,982.
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €52,284 ▲81.5%
Operating result €54,028, net result €52,284, both a record.
31-12
Financial
Equity above €150,000Eq €170,619 ▲44.2%
5 profitable years in a row build equity to €170,619.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-12
Financial
Equity above €100,000Eq €118,336 ▲32.2%
4 profitable years in a row build equity to €118,336.
28-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
03-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 3 days late
Show earlier events
2019
31-12
Financial
Weakest financial yearnet €8,589 ▼50%
Net result drops to €8,589, the lowest in the series; recovery starts the following year.
24-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
19-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
14-04
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 1 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Torhout · 1 establishment unit since 1962
Ground area
970 m²
Building footprint
285 m²
Volume, LiDAR
1,180 m³
Parcel 31522B0564/00G000, Flanders · tallest building 7.0 m, ±1 floor. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Industrielaan 27, 8820 Torhout
since 19622.006.122.524
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31522B0564/00G000 | Flanders | 970 m² | 1 · 285 m² | 7.0 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
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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Of 3,981 companies in this sector we hold annual accounts for 2,144. 1,654 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded01-01-1968
Fiscal year end31-12
Activities, NACEBEL 2025
25110Manufacture of metal structures and parts of structures
E-invoicing
Not found in the Peppol register
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.