ACTIVE

TORFS L.

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Financial year 2025 · closed on 31/12/2025

Net result

9,9 M €

+50.2% YoY

Revenue

172,5 M €

+1.1% YoY

Equity

36,7 M €

+1.5% YoY

Workforce

521,9 ETP

+2.0% YoY

What does TORFS L. do?

TORFS L. is a Public limited company incorporated in 1948. Its main activity is: Retail sale of footwear and leather goods in specialised stores. Its registered office is in Temse. It employs on average 521,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0404.054.092

Incorporation

14/10/1948

Legal form

Public limited company

Registered office

Afschrijverslaan 2
9140 Temse · FlandreSee on map

Contributed capital

9 160 000,00 €

Latest accounts

31/12/2025

Average workforce

521,9 ETP

Activities (NACE)

47721Retail sale of footwear and leather goods in specialised stores· main 47721Retail sale of footwear and leather goods in specialised stores 52431Warehousing and support activities for transportation

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Revenue	172,5 M €	+1.1%	170,6 M €	+4.0%	164 M €	+4.9%	156,3 M €	+8.1%	144,6 M €	-0.7%	145,6 M €	+2.0%	142,8 M €	+7.7%	132,7 M €	+2.6%	129,3 M €	+7.4%	120,4 M €	+5.1%	114,6 M €	+7.3%	106,8 M €	+14.4%	93,3 M €	+9.7%	85,1 M €	+9.7%	77,5 M €	+10.3%	70,3 M €
EBITDA	16,1 M €	+17.4%	13,7 M €	+26.2%	10,8 M €	-8.6%	11,9 M €	-0.7%	11,9 M €	+66.5%	7,2 M €	-28.0%	10 M €	-19.4%	12,4 M €	-3.7%	12,8 M €	+4.9%	12,2 M €	-0.3%	12,3 M €	+26.6%	9,7 M €	+1.6%	9,5 M €	-3.9%	9,9 M €	+1.3%	9,8 M €	+105%	4,8 M €
Operating result	10,9 M €	+64.5%	6,6 M €	+65.4%	4 M €	-30.1%	5,7 M €	+40.0%	4,1 M €	+190%	1,4 M €	-65.4%	4,1 M €	-34.3%	6,2 M €	-1.8%	6,3 M €	+13.5%	5,5 M €	-5.2%	5,9 M €	+55.1%	3,8 M €	-10.6%	4,2 M €	-18.6%	5,2 M €	-8.8%	5,7 M €	+222%	1,8 M €
Net result	9,9 M €	+50.2%	6,6 M €	+45.5%	4,5 M €	-21.4%	5,8 M €	+25.7%	4,6 M €	+104%	2,3 M €	-40.5%	3,8 M €	-21.7%	4,8 M €	-3.4%	5 M €	+4.4%	4,8 M €	+0.4%	4,8 M €	+47.1%	3,3 M €	-7.3%	3,5 M €	-16.7%	4,2 M €	+14.4%	3,7 M €	+43.9%	2,6 M €
Balance sheet
Equity	36,7 M €	+1.5%	36,2 M €	+0.5%	36 M €	+8.5%	33,2 M €	+13.3%	29,3 M €	-10.1%	32,6 M €	+6.1%	30,7 M €	+12.3%	27,3 M €	+20.5%	22,7 M €	+25.9%	18 M €	+2.6%	17,5 M €	-16.8%	21,1 M €	+16.0%	18,2 M €	+22.3%	14,9 M €	-43.1%	26,1 M €	+16.4%	22,4 M €
Total assets	68 M €	+3.7%	65,6 M €	+6.7%	61,4 M €	-7.4%	66,4 M €	+13.6%	58,4 M €	+4.0%	56,2 M €	+6.1%	52,9 M €	+7.7%	49,2 M €	+8.9%	45,1 M €	+5.7%	42,7 M €	+4.4%	40,9 M €	+13.2%	36,1 M €	-5.2%	38,1 M €	+16.2%	32,8 M €	-10.5%	36,7 M €	+5.7%	34,7 M €
Cash	919,7 k €	+20.5%	763,1 k €	-66.4%	2,3 M €	-82.2%	12,8 M €	+308%	3,1 M €	+36.1%	2,3 M €	-29.8%	3,3 M €	+117%	1,5 M €	+68.9%	895,4 k €	-0.2%	897,6 k €	-3.9%	933,8 k €	+15.0%	812,3 k €	-33.8%	1,2 M €	+18.4%	1 M €	+7.1%	967 k €	+31.2%	737,1 k €
Debts	29,1 M €	+5.9%	27,5 M €	+15.8%	23,8 M €	-24.4%	31,4 M €	+14.7%	27,4 M €	+23.9%	22,1 M €	+10.5%	20 M €	+1.0%	19,8 M €	+6.2%	18,6 M €	-15.4%	22 M €	+6.2%	20,7 M €	+64.0%	12,6 M €	-28.9%	17,8 M €	+11.2%	16 M €	+78.0%	9 M €	-16.1%	10,7 M €
Other
Workforce	521,9 ETP	+2.0%	511,5 ETP	+0.1%	510,9 ETP	-0.6%	514,1 ETP	+3.2%	498,2 ETP	-6.3%	531,6 ETP	+5.1%	505,7 ETP	+2.7%	492,4 ETP	+2.8%	478,9 ETP	+4.4%	458,6 ETP	+2.6%	446,9 ETP	+5.6%	423,2 ETP	+10.0%	384,9 ETP	+7.0%	359,8 ETP	+5.4%	341,5 ETP	+1.2%	337,6 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 48 ended

Active mandates

CREATIVE PROPERTY MANAGEMENT

Director · since 06 juin 2023 · until 06 juin 2028 · 0479.603.731

Represented by Luc De Baets

Active

TORFS IMPORT SERVICE

Managing director · since 01 juin 2021 · until 01 juin 2027 · 0444.892.775

Represented by Lise Conix

Active

VOLE

Director · since 21 février 2020 · until 02 juin 2026 · 0545.844.338

Represented by Stijn De Knop

Active

Van Key Consulting

Director · until 30 septembre 2025 · 0896.182.010

Represented by Els Vann Keymeulen

Active

Ended mandates

TORFS IMPORT SERVICE

Managing director · since 01 janvier 2023 · until 01 janvier 2029 · 0444.892.775

Represented by Lise CONIX

Ended

TORFS IMPORT SERVICE

Managing director · since 01 janvier 2023 · until 01 janvier 2029 · 0444.892.775

Represented by Lise Conix

Ended

TORFS IMPORT SERVICE

Director · since 01 juin 2021 · until 01 juin 2027 · 0444.892.775

Represented by Patrick Torfs

Ended

WOUTER TORFS

Managing director · since 01 juin 2021 · until 01 juin 2027 · 0479.484.064

Represented by Wouter Torfs

Ended

At this address

Other companies at this address

Company	CBE no.
TORFS ENERGIES● Active	0811.334.031
TORFS IMPORT SERVICE● Active	0444.892.775

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	17/07/2026	04/08/2025	16/07/2024	10/07/2023	06/07/2022	15/07/2021
General meeting	02/06/2026	03/06/2025	25/06/2024	06/06/2023	30/06/2022	01/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	02/06/2026	17/07/2026	Dutch	PDF
Full model	31/12/2024	03/06/2025	04/08/2025	Dutch	PDF
Full model	31/12/2023	25/06/2024	16/07/2024	Dutch	PDF
Full model	31/12/2022	06/06/2023	10/07/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	06/07/2022	Dutch	PDF
Full model	31/12/2020	01/06/2021	15/07/2021	Dutch	PDF
Full model	31/12/2019	02/06/2020	16/06/2020	Dutch	PDF
Full model	31/12/2018	04/06/2019	16/07/2019	Dutch	PDF
Full model	31/12/2017	05/06/2018	23/07/2018	Dutch	PDF
Full model	31/12/2016	06/06/2017	07/07/2017	Dutch	PDF
Full model	31/12/2015	07/06/2016	15/06/2016	Dutch	PDF
Full model	31/12/2014	02/06/2015	30/06/2015	Dutch	PDF
Full model	31/12/2013	03/06/2014	30/06/2014	Dutch	PDF
Full model	31/12/2012	04/06/2013	05/07/2013	Dutch	PDF
Full model	31/12/2011	05/06/2012	04/07/2012	Dutch	PDF
Full model	31/12/2010	07/06/2011	10/06/2011	Dutch	PDF
Full model	31/12/2009	01/06/2010	08/06/2010	Dutch	PDF
Full model	31/12/2008	02/06/2009	11/06/2009	Dutch	PDF
Full model	31/12/2007	03/06/2008	20/06/2008	Dutch	PDF
Full model	31/12/2006	05/06/2007	05/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 48 ended

Active mandates

CREATIVE PROPERTY MANAGEMENT

Director · since 06 juin 2023 · until 06 juin 2028 · 0479.603.731

Represented by Luc De Baets

Active

TORFS IMPORT SERVICE

Managing director · since 01 juin 2021 · until 01 juin 2027 · 0444.892.775

Represented by Lise Conix

Active

VOLE

Director · since 21 février 2020 · until 02 juin 2026 · 0545.844.338

Represented by Stijn De Knop

Active

Van Key Consulting

Director · until 30 septembre 2025 · 0896.182.010

Represented by Els Vann Keymeulen

Active

Ended mandates

TORFS IMPORT SERVICE

Managing director · since 01 janvier 2023 · until 01 janvier 2029 · 0444.892.775

Represented by Lise CONIX

Ended

TORFS IMPORT SERVICE

Managing director · since 01 janvier 2023 · until 01 janvier 2029 · 0444.892.775

Represented by Lise Conix

Ended

TORFS IMPORT SERVICE

Director · since 01 juin 2021 · until 01 juin 2027 · 0444.892.775

Represented by Patrick Torfs

Ended

WOUTER TORFS

Managing director · since 01 juin 2021 · until 01 juin 2027 · 0479.484.064

Represented by Wouter Torfs

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates16/12/2025
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/07/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/11/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/12/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/06/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/07/2015
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/05/2015
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/08/2012
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 20259,9 M €↑
2024
Annual accounts 20246,6 M €↑
2023
Annual accounts 20234,5 M €↓
06/06/2023
reconductionBV CREATIVE PROPERTY MANAGEMENT — bestuurder
01/01/2023
nominationTORFS IMPORT SERVICE — gedelegeerd bestuurder
2022
Annual accounts 20225,8 M €↑
2021
Annual accounts 20214,6 M €↑
2018
Annual accounts 20182,3 M €↓
2017
Annual accounts 20173,8 M €↓
2016
Annual accounts 20164,8 M €↓
2015
Annual accounts 20155 M €↑
2014
Annual accounts 20144,8 M €↑
2013
Annual accounts 20134,8 M €↑
2012
Annual accounts 20123,3 M €↓
2011
Annual accounts 20113,5 M €↓
2010
Annual accounts 20104,2 M €↑
2009
Annual accounts 20093,7 M €↑
2008
Annual accounts 20082,6 M €
14/10/1948
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

TORFS L.

Overview

What does TORFS L. do?

Trend over 16 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline