TF & D
ActiveSummary
TF & D has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €84k and a net result of €29k. Equity is growing by ~39.4% per year across the filed fiscal years. Its solvency ranks better than 57% of 788 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
84
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability93▲+15
Solvency81▲+13
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days acceptable
Liquidity ample (current ratio 2.98 against 2.54 in 2024; short-term debt: 25.9% of total assets), and 43.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three 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 78
Relative position
BE, all sectors
reference
Sector 78
lower
← 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
56.3%
Return on assets
19.3%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 4 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-08-2026, 6 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 9 filingsDeviation from the deadline
2025
6 d late
2024
7 d early
2023
8 d early
2022
33 d early
2021
33 d early
2020
31 d late
2019
81 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€84k▲ 52.4%
2024 · €55k
2018: €-34k
2019: €-14k
2020: €15k
2021: €34k
2022: €42k
2023: €46k
2024: €55k
2018 → 2025
Total assets
€150k▲ 16.9%
2024 · €128k
2018: €24k
2019: €43k
2020: €47k
2021: €52k
2022: €118k
2023: €157k
2024: €128k
2018 → 2025
Net result
€29k▲ 206%
2024 · €9k
2018: €-40k
2019: €20k
2020: €29k
2021: €18k
2022: €8k
2023: €4k
2024: €9k
2018 → 2025
Working capital
€77k▲ 45.6%
2024 · €53k
2018: €-41k
2019: €-19k
2020: €13k
2021: €20k
2022: €10k
2023: €52k
2024: €53k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€34k-€42k▲ 22.5%€46k▲ 10.4%€55k▲ 20.7%€84k▲ 52.4%
Operating result€27k-€15k▼ 43.0%€11k▼ 29.2%€19k▲ 74.0%€45k▲ 139%
Net result€18k-€8k▼ 58.7%€4k▼ 43.3%€9k▲ 119%€29k▲ 206%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 139% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €150k
Fixed assets
€34k ▼ 16.6%
Current assets
€116k ▲ 32.7%
Equity and liabilities €150k
Equity
€84k ▲ 52.4%
Debt
€66k ▼ 10.1%
Debt's share of the balance-sheet total falls from 56.9% to 43.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€60k▲
2024 · €33k
Cash flow
€44k▲
2024 · €24k
Current ratio
2.98▲
2024 · 2.54
Debt to equity
0.78▼
2024 · 1.32
ROE
34.4%▲
2024 · 17.1%
ROA
19.3%▲
2024 · 7.4%
Interest coverage
18.41▲
2024 · 7.99
Debt ≤ 1 year
€39k▲
2024 · €34k
Debt > 1 year
€27k▼
2024 · €38k
Income taxes
€13k▲
2024 · €6k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€128k€150k▲
Fixed assets21/28€41k€34k▼
Tangible fixed assets22/27€41k€34k▼
Furniture and vehicles24€41k€34k▼
Current assets29/58€87k€116k▲
Amounts receivable after more than one year29€20k€20k=
Other amounts receivable291€20k€20k=
Amounts receivable within one year40/41€53k€92k▲
Trade receivables40€13k€25k▲
Other amounts receivable41€40k€67k▲
Cash at bank and in hand54/58€10k-
Deferred charges and accrued income490/1€4k€4k▼
Equity and liabilities
Total equity and liabilities10/49€128k€150k▲
Equity10/15€55k€84k▲
Contributions10/11€6k€6k=
Reserves13€48k€77k▲
Distributable reserves133€48k€77k▲
Profit (loss) carried forward14€941€946▲
Amounts payable17/49€73k€66k▼
Amounts payable after more than one year17€38k€27k▼
Financial debts170/4€38k€27k▼
Amounts payable within one year42/48€34k€39k▲
Current portion of amounts payable after more than one year42€11k€11k▲
Financial debts43-€4k
Credit institutions430/8-€4k
Trade debts44€7k€9k▲
Suppliers440/4€7k€9k▲
Taxes, remuneration and social security45€16k€15k▼
Taxes450/3€16k€15k▼
Accrued charges and deferred income492/3€262€326▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€15k▲
Other operating charges640/8€776€969▲
Gross operating margin9900€34k€61k▲
Operating profit (loss)9901€19k€45k▲
Financial income75/76B€574€576▲
Recurring financial income75€574€576▲
Financial charges65/66B€4k€3k▼
Recurring financial charges65€4k€3k▼
Profit (loss) for the period before taxes9903€15k€42k▲
Income taxes67/77€6k€13k▲
Profit (loss) for the period9904€9k€29k▲
Profit (loss) for the period to be appropriated9905€9k€29k▲
Appropriation of the result
Profit (loss) to be appropriated9906€10k€30k▲
Profit (loss) brought forward from the previous period14P€901€941▲
Transfer to equity691/2€9k€29k▲
To other reserves6921€9k€29k▲
The notes to these accounts (9 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
06-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 6 days late
2025
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-12
Financial
Highest result since 2018net €29k ▲46.9%
Net result €29k, the highest in the series.
31-12
Financial
Liquidity doublescurrent ratio 1.40
Current ratio from 0.66 to 1.40; short-term debt falls from €57k to €31k.
20-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 81 days late
2019
31-12
Financial
Back to profitnet €20k
Net result €20k after one loss-making year.
12-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
13-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Middelkerke · 1 establishment unit since 2018
Ground area
463 m²
Building footprint
226 m²
Volume, LiDAR
22 m³
Parcel 35022B0311/00C033, Flanders · tallest building 4.1 m. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
TF & D
since 20182.275.986.620
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35022B0311/00C033 | Flanders | 463 m² | 1 · 226 m² | 4.1 m |
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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Of 2,360 companies in sector 78100 we hold annual accounts for 1,363. 1,089 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded06-01-2017
Fiscal year end31-12
Activities, NACEBEL 2025
78100Employment placement agencies
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.