ACTIVE

TUC RAIL

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Financial year 2025 · closed on 31/12/2025
Net result
-2,2 M €
-432.1% YoY
Revenue
182,1 M €
-4.3% YoY
Equity
24,9 M €
-4.3% YoY
Workforce
730,6 ETP
+2.0% YoY

What does TUC RAIL do?

TUC RAIL is a Public limited company incorporated in 1992. Its main activity is: Engineering activities and related technical consultancy. Its registered office is in Saint-Gilles. It employs on average 730,6 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0447.914.029
Incorporation
10/07/1992
Legal form
Public limited company
Registered office
Avenue Fonsny 39
1060 Saint-Gilles · BruxellesSee on map
Contributed capital
17 968 229,41 €
Latest accounts
31/12/2025
Average workforce
730,6 ETP
Activities (NACE)
71121Engineering activities and related technical consultancy· main71121Engineering activities and related technical consultancy74203Photographic activities62020Computer consultancy activities62090Other information technology and computer service activities62200Computer programming, consultancy and related activities+3
Joint committees (2)
  • 200
  • 218
Contacts
2 public details availableLog in to view
Signals
Good liquidityPositive EBITDAHealthy social debtsHigh revenue
View the BCE/KBO Public Search record →
Health score
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Recommended credit limit
✦ Verdict · Analyst summary
Financials

Trend over 3 financial years

202520232007
Income statement
Revenue182,1 M €190,3 M €67 M €
EBITDA3,9 M €1,2 M €3,2 M €
Operating result3 M €2,9 M €475,9 k €
Net result-2,2 M €671 k €35,3 k €
Balance sheet
Equity24,9 M €26 M €2,4 M €
Total assets124,1 M €130,9 M €160,6 M €
Cash13,3 M €4 M €75,6 k €
Debts97,9 M €103,5 M €155,5 M €
Other
Workforce730,6 ETP716,4 ETP305,1 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 8 active · 10 ended

Active mandates

Estelle NAYES

Director · since 01 janvier 2026 · until 25 mars 2027

Active
Philippe DENAYER

Persoon belast met dagelijks bestuur · since 01 avril 2021 · until 01 avril 2027

Active
Benoit GILSON

Chairman of the board of directors · since 31 mars 2021 · until 25 mars 2027

Active
Jochen BULTINCK

Vice-chairman of the board of directors · since 31 mars 2021 · until 31 décembre 2025

Active
Ann BILLIAU

Director · since 25 mars 2021 · until 31 décembre 2025

Active
Antoine COLPAERT

Director · since 25 mars 2021 · until 25 mars 2027

Active
Christine VANDERVEEREN

Director · since 25 mars 2021 · until 25 mars 2027

Active
Eric MERCIER

Director · since 25 mars 2021 · until 25 mars 2027

Active

Ended mandates

Jochen BULTINCK

Vice-chairman of the board of directors · since 31 mars 2021 · until 25 mars 2027

Ended
Ann BILLIAU

Director · since 25 mars 2021 · until 25 mars 2027

Ended
Eduard CLEMENT-NYNS

Director · since 01 juillet 2007 · until 30 juin 2013

Ended
Antoine MARTENS

Director · since 24 mars 2005 · until 27 mars 2011

Ended
Annual accounts

Full financial information

202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date30/03/202614/04/202518/04/202431/03/202321/04/202220/04/2021
General meeting26/03/202627/03/202528/03/202423/03/202324/03/202225/03/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

42 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202526/03/202630/03/2026DutchPDF
Full model31/12/202526/03/202630/03/2026FrenchPDF
Full model31/12/202427/03/202514/04/2025DutchPDF
Full model31/12/202427/03/202514/04/2025FrenchPDF
Full model31/12/202328/03/202418/04/2024FrenchPDF
Full model31/12/202328/03/202418/04/2024DutchPDF
Full model31/12/202223/03/202331/03/2023DutchPDF
Full model31/12/202223/03/202331/03/2023FrenchPDF
Full model31/12/202124/03/202221/04/2022DutchPDF
Full model31/12/202124/03/202221/04/2022FrenchPDF
Full model31/12/202025/03/202120/04/2021FrenchPDF
Full model31/12/202025/03/202120/04/2021DutchPDF
Full model31/12/201926/03/202020/04/2020FrenchPDF
Full model31/12/201926/03/202015/04/2020DutchPDF
Full model31/12/201827/03/201929/03/2019FrenchPDF
Full model31/12/201827/03/201929/03/2019DutchPDF
Full modelCorrection31/12/201722/03/201804/03/2019FrenchPDF
Full modelCorrection31/12/201722/03/201804/03/2019DutchPDF
Full model31/12/201722/03/201828/03/2018FrenchPDF
Full model31/12/201722/03/201828/03/2018DutchPDF
Full model31/12/201623/03/201710/04/2017DutchPDF
Full model31/12/201623/03/201704/04/2017FrenchPDF
Full model31/12/201524/03/201629/03/2016FrenchPDF
Full model31/12/201524/03/201629/03/2016DutchPDF

View all 42 filings

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 · 8 active · 10 ended

Active mandates

Estelle NAYES

Director · since 01 janvier 2026 · until 25 mars 2027

Active
Philippe DENAYER

Persoon belast met dagelijks bestuur · since 01 avril 2021 · until 01 avril 2027

Active
Benoit GILSON

Chairman of the board of directors · since 31 mars 2021 · until 25 mars 2027

Active
Jochen BULTINCK

Vice-chairman of the board of directors · since 31 mars 2021 · until 31 décembre 2025

Active
Ann BILLIAU

Director · since 25 mars 2021 · until 31 décembre 2025

Active
Antoine COLPAERT

Director · since 25 mars 2021 · until 25 mars 2027

Active
Christine VANDERVEEREN

Director · since 25 mars 2021 · until 25 mars 2027

Active
Eric MERCIER

Director · since 25 mars 2021 · until 25 mars 2027

Active

Ended mandates

Jochen BULTINCK

Vice-chairman of the board of directors · since 31 mars 2021 · until 25 mars 2027

Ended
Ann BILLIAU

Director · since 25 mars 2021 · until 25 mars 2027

Ended
Eduard CLEMENT-NYNS

Director · since 01 juillet 2007 · until 30 juin 2013

Ended
Antoine MARTENS

Director · since 24 mars 2005 · until 27 mars 2011

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Other23/09/2026
    —
    PDF
  • Other23/09/2026
    —
    PDF
  • Mandates06/08/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates06/08/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other08/06/2026
    DIVERSEN
    PDF
  • Other08/06/2026
    DIVERS
    PDF
  • Other05/05/2026
    DIVERSEN
    PDF
  • Other05/05/2026
    DIVERS
    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

Timeline

  1. 01/01/2026
    nominationEstelle NAYES — administratrice
  2. 01/01/2026
    nominationEstelle NAYES — bestuurder
  3. 2025
    Annual accounts 2025-2,2 M €↓
  4. 2023
    Annual accounts 2023671 k €↑
  5. 23/03/2023
    nominationTanguy Legein — vaste vertegenwoordiger (revisor)
  6. 23/03/2023
    nominationMichaël Delbeke — vaste vertegenwoordiger (revisor)
  7. 23/03/2023
    nominationTanguy Legein — représentant permanent (commissaire)
  8. 23/03/2023
    nominationMichaël Delbeke — représentant permanent (commissaire)
  9. 01/10/2022
    nominationTanguy Legein — représentant permanent du commissaire
  10. 01/10/2022
    nominationTanguy Legein — permanente vertegenwoordiger van de commissaris
  11. 2007
    Annual accounts 200735,3 k €
  12. 10/07/1992
    IncorporationPublic limited company