WOUTER TORFS
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 29-07-2026 at the NBB all 23 filings
Turnover
≈ €2.6m
Estimated: probably between €1.8m and €3.3m
Total assets
€11.8m▲ 150%
2024 · €4.7m
Net result
€697,421▲ 108×
2024 · €6,429
Working capital
€929,486
2024 · -€1.9m
In the rankings
#2 company by total assets in Berlaar, Professional and technical services sector#2 company by equity in Berlaar, Professional and technical services sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€1.1m
▲ 693%
2025
20182025
Net result
€697,421
▲ 108×
2025
highest quarter of the sector
20182025
Equity
€6.6m
▲ 491%
2025
highest quarter of the sector
20182025
Total assets
€11.8m
▲ 150%
2025
highest quarter of the sector
20182025
Debt
€5.0m
▲ 38.8%
2025
20182025
Working capital
€929,486
2025
highest quarter of the sector
20182025
Solvency
55.7%
▲ 32.1pp
2025
middle half of the sector
20182025
Current ratio
1.69
▲ 1.50
2025
middle half of the sector
20182025
Return on assets (ROA)
5.9%
▲ 5.8pp
2025
middle half of the sector
20182025
Staff (FTE)
0
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.1m-€0.2m€0.2m▲ 11.6%€0.3m▲ 78.7%€0.1m▼ 64.4%€0.2m▲ 100%€0.1m▼ 41.4%€1.1m▲ 693%
Net result-€0.1m-€0.03m€0.1mabove the sector's middle half▲ 344%€0.2mabove the sector's middle half▲ 81.7%€0.01mwithin the sector's middle half▼ 93.5%€0.07mabove the sector's middle half▲ 379%€0.006mwithin the sector's middle half▼ 90.3%€0.7mabove the sector's middle half▲ 108×
Equity€0.7m-€0.8m▲ 3.6%€0.8mabove the sector's middle half▲ 5.5%€1.0mabove the sector's middle half▲ 26.3%€1.0mabove the sector's middle half▲ 1.4%€1.1mabove the sector's middle half▲ 6.4%€1.1mwithin the sector's middle half▲ 0.6%€6.6mabove the sector's middle half▲ 491%
Total assets€3.4m-€3.4m▼ 2.7%€3.3mabove the sector's middle half▼ 0.3%€3.3mabove the sector's middle half▼ 2.6%€5.0mabove the sector's middle half▲ 54.9%€4.9mabove the sector's middle half▼ 2.3%€4.7mabove the sector's middle half▼ 4.4%€11.8mabove the sector's middle half▲ 150%
Debt€2.7m-€2.6m▼ 4.4%€2.5m▼ 2.0%€2.2m▼ 12.5%€4.0m▲ 80.0%€3.8m▼ 4.6%€3.6m▼ 5.8%€5.0m▲ 38.8%
Working capital-€1.2m--€1.2m▲ 0.8%-€1.1mbelow the sector's middle half▲ 11.5%-€0.7mbelow the sector's middle half▲ 34.4%-€1.8mbelow the sector's middle half▼ 153%-€1.7mbelow the sector's middle half▲ 6.5%-€1.9mbelow the sector's middle half▼ 14.1%€0.9mabove the sector's middle half
Solvency21.5%-22.9%▲ 1.4pp24.2%within the sector's middle half▲ 1.3pp31.4%within the sector's middle half▲ 7.2pp20.6%below the sector's middle half▼ 10.9pp22.4%below the sector's middle half▲ 1.8pp23.5%below the sector's middle half▲ 1.2pp55.7%within the sector's middle half▲ 32.1pp
Current ratio0.23-0.23=0.33below the sector's middle half▲ 0.090.51below the sector's middle half▲ 0.180.17below the sector's middle half▼ 0.340.21below the sector's middle half▲ 0.040.19below the sector's middle half▼ 0.021.69within the sector's middle half▲ 1.50
Return on assets (ROA)-3.8%-0.8%▲ 4.6pp3.5%within the sector's middle half▲ 2.7pp6.5%within the sector's middle half▲ 3.0pp0.3%below the sector's middle half▼ 6.3pp1.4%below the sector's middle half▲ 1.1pp0.1%below the sector's middle half▼ 1.2pp5.9%within the sector's middle half▲ 5.8pp
Staff (FTE)0within the sector's middle half0within the sector's middle half
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 7.9 times that of 2024 and the highest since 2018. It is a recovery after the fall in 2024.
Large changes and their cause
- 2025 Net result +10,748% on 2024. The 2025 profit included a one-off income of €906,420.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.8m
Fixed assets
€9.5m ▲ 122%
Current assets
€2.3m ▲ 411%
Equity and liabilities €11.8m
Equity
€6.6m ▲ 491%
Provisions
€236,038 ▲ 17×
Debt
€5.0m ▲ 38.8%
Debt's share of the balance-sheet total falls from 76.2% to 42.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.3m▲
2024 · €359,694
Cash flow
€929,414▲
2024 · €230,580
Debt to equity
0.76▼
2024 · 3.23
ROE
10.6%▲
2024 · 0.6%
Interest coverage
7.44▲
2024 · 2.88
Debt ≤ 1 year
€1.4m▼
2024 · €2.3m
Debt > 1 year
€3.6m▲
2024 · €1.2m
Income taxes
€23,927▲
2024 · €10,642
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €2.6m | €33,150 | €1,033 | €495,637 |
| Financial fixed assets | €20,000 | - | - | - | €5.2m |
| Depreciation and write-downs of the year | €148,128 | €476,003 | €228,198 | €224,151 | €231,993 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.08m | €0 | - | - | €0.9m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.4m | €0.2m | €0.2m | €0.1m | €0.5m | €0.2m | €0.2m | €0.2m | ▲ 3.5% |
| Other operating charges640/8 | - | - | - | €0.02m | €0.02m | €0.04m | €0.06m | €0.06m | ▲ 12.8% |
| Gross operating margin9900 | €0.3m | €0.3m | €0.4m | €0.5m | €0.6m | €0.5m | €0.4m | €1.4m | ▲ 230% |
| Operating profit (loss)9901 | -€0.1m | €0.2m | €0.2m | €0.3m | €0.1m | €0.2m | €0.1m | €1.1m | ▲ 693% |
| Financial income75/76B | - | - | - | €125 | €74 | €121 | €0.006m | €0.04m | ▲ 628% |
| Recurring financial income75 | €0.01m | €0.009m | €0.002m | €125 | €74 | €121 | €0.006m | €0.04m | ▲ 628% |
| Financial charges65/66B | - | - | - | €0.04m | €0.09m | €0.1m | €0.1m | €0.2m | ▲ 40.4% |
| Recurring financial charges65 | €0.04m | €0.1m | €0.04m | €0.04m | €0.09m | €0.1m | €0.1m | €0.2m | ▲ 40.4% |
| Profit (loss) for the period before taxes9903 | -€0.1m | €0.03m | €0.1m | €0.3m | €0.03m | €0.1m | €0.02m | €0.9m | ▲ 59× |
| Transfer from deferred taxes780 | - | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Transfer to deferred taxes680 | - | - | - | €0.02m | €0 | - | - | €0.2m | - |
| Income taxes67/77 | - | €117 | €0.02m | €0.05m | €0.01m | €0.04m | €0.01m | €0.02m | ▲ 125% |
| Profit (loss) for the period9904 | -€0.1m | €0.03m | €0.1m | €0.2m | €0.01m | €0.07m | €0.006m | €0.7m | ▲ 108× |
| Transfer from tax-exempt reserves789 | - | - | - | - | €0.002m | €0.003m | €0.003m | €0.003m | = |
| Transfer to tax-exempt reserves689 | - | - | - | €0.07m | €0 | - | - | €0.7m | - |
| Profit (loss) for the period to be appropriated9905 | -€0.1m | €0.03m | €0.1m | €0.1m | €0.02m | €0.07m | €0.01m | €0.04m | ▲ 328% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €3.4m | €3.4m | €3.3m | €3.3m | €5.0m | €4.9m | €4.7m | €11.8m | ▲ 150% |
| Fixed assets21/28 | €3.1m | €3.0m | €2.8m | €2.5m | €4.7m | €4.5m | €4.3m | €9.5m | ▲ 122% |
| Tangible fixed assets22/27 | €3.1m | €3.0m | €2.8m | €2.5m | €4.7m | €4.5m | €4.2m | €4.3m | ▲ 0.8% |
| Land and buildings22 | - | - | - | €2.5m | €4.6m | €4.4m | €4.2m | €4.2m | ▲ 0.7% |
| Plant, machinery and equipment23 | - | - | - | €0.001m | €422 | €0 | - | €0.008m | - |
| Furniture and vehicles24 | - | - | - | €0.03m | €0.02m | €0.03m | €0.02m | €0.02m | ▼ 12.9% |
| Financial fixed assets28 | - | €0.008m | €0.008m | €0.03m | €0.03m | €0.03m | €0.03m | €5.2m | ▲ 190× |
| Current assets29/58 | €0.4m | €0.4m | €0.5m | €0.7m | €0.4m | €0.4m | €0.4m | €2.3m | ▲ 411% |
| Amounts receivable after more than one year29 | - | - | - | €0.003m | €0.003m | €0.003m | €0 | - | - |
| Other amounts receivable291 | - | - | - | €0.003m | €0.003m | €0.003m | €0 | - | - |
| Amounts receivable within one year40/41 | €0.2m | €0.1m | €0.05m | €0.04m | €0.04m | €0.03m | €0.02m | €0.5m | ▲ 26× |
| Trade receivables40 | - | - | - | €0.01m | €0.02m | €0.02m | €0.01m | €0.02m | ▲ 111% |
| Other amounts receivable41 | - | - | - | €0.03m | €0.02m | €0.02m | €0.008m | €0.5m | ▲ 60× |
| Current investments50/53 | €0.1m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.3m | ▲ 174× |
| Cash at bank and in hand54/58 | €0.07m | €0.2m | €0.4m | €0.7m | €0.3m | €0.4m | €0.4m | €1.4m | ▲ 237% |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.003m | €0.004m | €0.003m | €0.009m | ▲ 213% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €3.4m | €3.4m | €3.3m | €3.3m | €5.0m | €4.9m | €4.7m | €11.8m | ▲ 150% |
| Equity10/15 | €0.7m | €0.8m | €0.8m | €1.0m | €1.0m | €1.1m | €1.1m | €6.6m | ▲ 491% |
| Contributions10/11 | €0.4m | €0.4m | - | €0.4m | €0.4m | €0.4m | €0.4m | €3.2m | ▲ 797% |
| Reserves13 | €0.6m | €0.6m | €0.5m | €0.7m | €0.7m | €0.8m | €0.8m | €2.3m | ▲ 205% |
| Non-distributable reserves130/1 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.3m | ▲ 11× |
| Reserves not available under the articles1311 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.3m | ▲ 11× |
| Tax-exempt reserves132 | - | - | - | €0.07m | €0.06m | €0.06m | €0.06m | €0.7m | ▲ 13× |
| Distributable reserves133 | - | - | - | €0.6m | €0.6m | €0.7m | €0.7m | €1.3m | ▲ 91.4% |
| Profit (loss) carried forward14 | -€0.2m | -€0.2m | -€0.07m | €0 | - | - | - | €1.1m | - |
| Provisions and deferred taxes16 | - | - | - | €0.02m | €0.02m | €0.01m | €0.01m | €0.2m | ▲ 17× |
| Provisions for liabilities and charges160/5 | - | - | - | - | - | - | - | €0.003m | - |
| Major repairs and maintenance162 | - | - | - | - | - | - | - | €0.003m | - |
| Deferred taxes168 | - | - | - | €0.02m | €0.02m | €0.01m | €0.01m | €0.2m | ▲ 17× |
| Amounts payable17/49 | €2.7m | €2.6m | €2.5m | €2.2m | €4.0m | €3.8m | €3.6m | €5.0m | ▲ 38.8% |
| Amounts payable after more than one year17 | €1.1m | €0.9m | €0.8m | €0.7m | €1.7m | €1.5m | €1.2m | €3.6m | ▲ 189% |
| Financial debts170/4 | - | - | - | €0.7m | €1.7m | €1.5m | €1.2m | €1.0m | ▼ 22.4% |
| Other amounts payable178/9 | - | - | - | - | - | - | - | €2.6m | - |
| Amounts payable within one year42/48 | €1.6m | €1.6m | €1.6m | €1.4m | €2.1m | €2.1m | €2.3m | €1.4m | ▼ 42.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 0.5% |
| Trade debts44 | €0.08m | €0.01m | €0.006m | €0.008m | €0.008m | €0.009m | €0.006m | €0.003m | ▼ 58.8% |
| Suppliers440/4 | - | - | - | €0.008m | €0.008m | €0.009m | €0.006m | €0.003m | ▼ 58.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.04m | €0.04m | €0.02m | €0.004m | €0.02m | ▲ 324% |
| Taxes450/3 | - | - | - | €0.04m | €0.04m | €0.02m | €0.004m | €0.02m | ▲ 324% |
| Remuneration and social security454/9 | - | - | - | €0 | - | €0.002m | €0 | - | - |
| Other amounts payable47/48 | - | - | - | €1.2m | €1.8m | €1.8m | €2.1m | €1.1m | ▼ 47.8% |
| Accrued charges and deferred income492/3 | - | - | - | €0.1m | €0.2m | €0.2m | €0.01m | €0.07m | ▲ 502% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.1m | €0.03m | €0.1m | €0.2m | €0.01m | €0.07m | €0.006m | €0.7m | ▲ 108× |
| + Depreciation and write-downs630 | €0.4m | €0.2m | €0.2m | €0.1m | €0.5m | €0.2m | €0.2m | €0.2m | ▲ 3.5% |
| Operating cash flow (approximation) | €0.2m | €0.2m | €0.3m | €0.4m | €0.5m | €0.3m | €0.2m | €0.9m | ▲ 303% |
| Investment in fixed assets (approximation) | - | -€0.07m | €0 | €0.2m | -€2.6m | -€0.03m | -€0.001m | -€5.5m | ▼ 527,783% |
| Change in cash | - | €0.2m | €0.2m | €0.2m | -€0.4m | €0.09m | €0.02m | €1.0m | ▲ 40× |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,579 companies had the same profile as WOUTER TORFS has now. Two years later, 96.7% were still going and 0.1% had gone bankrupt.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.7%
was still going
3.2%
stopped otherwise
0.1%
went bankrupt
That fits the bankruptcy probability of WOUTER TORFS itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,579 companies, not a prediction for WOUTER TORFS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 23 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 29-07-2026 | 2026-00350060 | |
| 31-12-2024 | abbreviated format | 24-06-2025 | 2025-00172144 | |
| 31-12-2023 | micro format | 05-07-2024 | 2024-00213854 | |
| 31-12-2022 | micro format | 05-07-2024 | 2024-00213238 | |
| 31-12-2021 | micro format | 19-07-2022 | 2022-20200067 | |
| 31-12-2020 | micro format | 16-07-2021 | 2021-36800011 | |
| 31-12-2019 | micro format | 22-09-2020 | 2020-54600564 | |
| 31-12-2018 | micro format | 05-07-2019 | 2019-29200442 | |
| 31-12-2017 | micro format | 11-07-2018 | 2018-32200245 | |
| 31-12-2016 | micro format | 14-07-2017 | 2017-31700161 |