ACTIVE

TELFIN

Export PDF

Financial year 2025 · closed on 31/12/2025

Net result

28,9 M €

-51.5% YoY

Equity

537,4 M €

-26.2% YoY

What does TELFIN do?

TELFIN is a Public limited company incorporated in 1984. Its main activity is: Activities of holding companies. Its registered office is in Bruxelles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0427.428.025

Incorporation

31/12/1984

Legal form

Public limited company

Registered office

Boulevard Simon Bolivar 36
1000 Bruxelles · BruxellesSee on map

Contributed capital

513 753 792,74 €

Latest accounts

31/12/2025

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies

Contacts

1 public detail availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflow

View the BCE/KBO Public Search record →

Health score

Available with a Rovalta subscriptionTry for 7 days

Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009
Income statement
Revenue	–		–		–		–		–		–		–		–		–		–		–		–		8,2 k €	-91.0%	91 k €	+9.6%	83 k €	+80.1%	46,1 k €		–
EBITDA	-446,2 k €	+13.3%	-514,9 k €	-35.9%	-378,8 k €	+46.3%	-705,7 k €	-652%	-93,9 k €	+8.6%	-102,7 k €	+7.0%	-110,4 k €	-36.1%	-81,1 k €	+20.4%	-101,9 k €	+31.2%	-148,1 k €	-66.5%	-88,9 k €	-43.6%	-61,9 k €	-359%	23,9 k €	+136%	-66,1 k €	-433%	-12,4 k €	+15.1%	-14,6 k €	-174%	-5,3 k €
Operating result	-446,2 k €	+13.3%	-514,9 k €	-35.9%	-378,8 k €	+46.3%	-705,7 k €	-652%	-93,9 k €	+8.6%	-102,7 k €	+7.0%	-110,4 k €	-36.1%	-81,1 k €	+20.4%	-101,9 k €	+31.2%	-148,1 k €	-66.5%	-88,9 k €	-43.6%	-61,9 k €	-359%	23,9 k €	+136%	-66,1 k €	-433%	-12,4 k €	+15.1%	-14,6 k €	-174%	-5,3 k €
Net result	28,9 M €	-51.5%	59,5 M €	+15.2%	51,7 M €	+83.5%	28,2 M €	+25.0%	22,5 M €	+6.1%	21,2 M €	+42.5%	14,9 M €	+366%	3,2 M €	+229%	972,9 k €	+68.4%	577,7 k €	+578%	-120,8 k €	-106%	2,1 M €	-5.9%	2,2 M €	-30.1%	3,1 M €	-32.0%	4,6 M €	+26.7%	3,7 M €	-17.1%	4,4 M €
Balance sheet
Equity	537,4 M €	-26.2%	728,2 M €	-28.1%	1 Md €	+5.4%	960,8 M €	+3.0%	932,7 M €	+2.5%	910,2 M €	+37.1%	663,9 M €	+172%	244 M €	+1.3%	240,8 M €	+0.4%	239,8 M €	+0.2%	239,3 M €	-0.1%	239,4 M €	+0.9%	237,3 M €	+0.9%	235,1 M €	+1.4%	232 M €	+2.0%	227,3 M €	+1.6%	223,7 M €
Total assets	575 M €	-48.4%	1,1 Md €	+8.4%	1 Md €	+6.4%	966,3 M €	+1.8%	949,4 M €	+2.8%	923,1 M €	+38.4%	667,1 M €	+173%	244,8 M €	+1.6%	240,9 M €	+0.4%	239,8 M €	+0.2%	239,3 M €	-0.1%	239,4 M €	+0.9%	237,3 M €	+0.9%	235,2 M €	+1.4%	232,1 M €	+2.0%	227,5 M €	+1.7%	223,8 M €
Cash	742,4 k €	+23.2%	602,5 k €	-48.3%	1,2 M €	+79.6%	649,2 k €	+116%	300 k €	+7849%	3,8 k €	-61.6%	9,8 k €	-98.2%	544,9 k €	+1404%	36,2 k €	+34.5%	26,9 k €	+2488%	1 k €	+775%	119 €	-34.6%	182 €	-85.5%	1,3 k €	-45.4%	2,3 k €	-31.0%	3,3 k €	-86.5%	24,6 k €
Debts	34 M €	-91.1%	382,5 M €	+3349%	11,1 M €	+1359%	760 k €	-95.4%	16,5 M €	+75.1%	9,4 M €	+489%	1,6 M €	+751%	187,8 k €	+6856%	2,7 k €	0.0%	2,7 k €		–		–		–		36,2 k €	+42.6%	25,4 k €	-58.2%	60,7 k €	+1587%	3,6 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 500 M€ and 1.000 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 17 ended

Active mandates

Patrick VAN DER BEKEN

Director · since 25 avril 2024 · until 27 avril 2028

Active

Thierry VAN DEN HOVE

Chairman of the board of directors · since 25 avril 2024 · until 27 avril 2028

Active

Ended mandates

Patrick VAN DER BEKEN

Director · since 25 avril 2024 · until 24 avril 2028

Ended

Thierry VAN DEN HOVE

Chairman of the board of directors · since 25 avril 2024 · until 24 avril 2028

Ended

Jean-Marc Turchini

Director · since 06 juin 2017 · until 23 avril 2020

Ended

Jean-Marc Turchini

Director · since 06 juin 2017

Ended

At this address

Other companies at this address

Company	CBE no.
BELGIAN NUCLEAR LIABILITIES FUND● Active	0760.370.429
BELGONUCLEAIRE● Active	0403.126.258
BELUX INNOVATION HOLDING● Active	0664.799.495
BE-NUC● Active	1009.228.976
BLOMHOF● Active	0405.671.420
Cercle des Ex-Tra asbl● Active	0725.783.296
CoGreen● Active	0525.640.426
Conquest4Wind P5● Active	0697.691.997
ELECTRABEL● Active	0403.170.701
ELECTRABEL GREEN PROJECTS FLANDERS● Active	0465.399.763
ELECTRABEL SEANERGY● Active	0479.612.837
Electric Mobility Infrastructure Belgium● Active	1027.867.824
ENERGY ASSISTANCE● Active	0475.635.144
ENGIE CC● Active	0442.100.363
ENGIE ENERGY MANAGEMENT● Active	0831.958.211
ENGIE ENERGY SERVICES INTERNATIONAL● Active	0403.108.145
ENGIE Global Business Support● Active	0505.619.626
Engie Impact Belgium● Active	0724.730.649
ENGIE MANAGEMENT COMPANY BELGIUM● Active	0825.952.921
ENGIE PILLAR 2 - BELGIQUE● Active	1014.115.204

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	15/06/2026	15/05/2025	13/06/2024	24/05/2023	24/05/2022	13/07/2021
General meeting	13/05/2026	24/04/2025	06/06/2024	12/05/2023	13/05/2022	28/06/2021
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

Looking for more information about this company?

Try for 7 days

Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	13/05/2026	15/06/2026	French	PDF
Full model	31/12/2024	24/04/2025	15/05/2025	French	PDF
Full model	31/12/2023	06/06/2024	13/06/2024	French	PDF
Full model	31/12/2022	12/05/2023	24/05/2023	French	PDF
Full model	31/12/2021	13/05/2022	24/05/2022	French	PDF
Full model	31/12/2020	28/06/2021	13/07/2021	French	PDF
Full model	31/12/2019	23/04/2020	04/08/2020	French	PDF
Full model	31/12/2018	03/06/2019	26/06/2019	French	PDF
Full model	31/12/2017	26/04/2018	18/06/2018	French	PDF
Full model	31/12/2016	06/06/2017	13/06/2017	French	PDF
Full model	31/12/2015	28/04/2016	25/05/2016	French	PDF
Full model	31/12/2014	23/04/2015	28/05/2015	French	PDF
Full model	31/12/2013	24/04/2014	19/05/2014	French	PDF
Full model	31/12/2012	25/04/2013	22/05/2013	French	PDF
Full model	31/12/2011	26/04/2012	01/06/2012	French	PDF
Full model	31/12/2010	28/04/2011	10/05/2011	French	PDF
Full model	31/12/2009	22/04/2010	28/05/2010	French	PDF
Full model	31/12/2008	23/04/2009	12/05/2009	French	PDF
Full model	31/12/2007	24/04/2008	22/05/2008	French	PDF
Full model	31/12/2006	26/04/2007	10/05/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 M€ and 1.000 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 · 2 active · 17 ended

Active mandates

Patrick VAN DER BEKEN

Director · since 25 avril 2024 · until 27 avril 2028

Active

Thierry VAN DEN HOVE

Chairman of the board of directors · since 25 avril 2024 · until 27 avril 2028

Active

Ended mandates

Patrick VAN DER BEKEN

Director · since 25 avril 2024 · until 24 avril 2028

Ended

Thierry VAN DEN HOVE

Chairman of the board of directors · since 25 avril 2024 · until 24 avril 2028

Ended

Jean-Marc Turchini

Director · since 06 juin 2017 · until 23 avril 2020

Ended

Jean-Marc Turchini

Director · since 06 juin 2017

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other02/06/2025
DIVERS
PDF
Other22/05/2025
DIVERS
PDF
Mandates22/07/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates09/08/2023
DEMISSIONS, NOMINATIONS
PDF
Registered office08/05/2023
SIEGE SOCIAL
PDF
Other24/11/2022
DIVERS
PDF
Mandates02/09/2020
DEMISSIONS, NOMINATIONS
PDF
Capital / shares14/07/2020
CAPITAL, ACTIONS
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 202528,9 M €↓
2024
Annual accounts 202459,5 M €↑
25/04/2024
reconductionThierry van den HOVE — administrateur
25/04/2024
reconductionP. van der BEKEN — administrateur
2023
Annual accounts 202351,7 M €↑
28/03/2023
nominationJean-Marc Turchini — gestion journalière
28/03/2023
nominationThierry van den Hove — gestion journalière
28/03/2023
nominationPatrick van der Beken — gestion journalière
28/03/2023
nominationGrégoire de Thier — gestion journalière
28/03/2023
nominationVirginie De Keyser — gestion journalière
01/01/2023
nominationCorine Magnin — représentant permanent du commissaire
2022
Annual accounts 202228,2 M €↑
2021
Annual accounts 202122,5 M €↑
2020
Annual accounts 202021,2 M €↑
2019
Annual accounts 201914,9 M €↑
2018
Annual accounts 20183,2 M €↑
2017
Annual accounts 2017972,9 k €↑
2016
Annual accounts 2016577,7 k €↑
2015
Annual accounts 2015-120,8 k €↓
2014
Annual accounts 20142,1 M €↓
2013
Annual accounts 20132,2 M €↓
2012
Annual accounts 20123,1 M €↓
2011
Annual accounts 20114,6 M €↑
2010
Annual accounts 20103,7 M €↓
2009
Annual accounts 20094,4 M €
31/12/1984
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

TELFIN

Overview

What does TELFIN do?

Trend over 17 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