ACTIVE

TOBCO

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Financial year 2025 · closed on 31/12/2025

Net result

93,8 k €

-39.1% YoY

Gross margin

204,3 k €

-25.0% YoY

Equity

3,5 M €

+2.7% YoY

What does TOBCO do?

TOBCO is a Public limited company incorporated in 2002. Its main activity is: Activities of holding companies. Its registered office is in Wervik.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0477.489.329

Incorporation

06/05/2002

Legal form

Public limited company

Registered office

Hoogweg 78
8940 Wervik · FlandreSee on map

Contributed capital

1 350 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

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

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	204,3 k €	-25.0%	272,4 k €	+29.1%	211,1 k €	+5.9%	199,3 k €	-0.1%	199,5 k €	-1.5%	202,5 k €	-16.4%	242,2 k €	-9.1%	266,4 k €	-27.2%	365,8 k €	+31.8%	277,5 k €	+0.2%	277 k €	-25.7%	373 k €	+26.1%	295,9 k €	+85.5%	159,5 k €	-13.4%	184,2 k €	-24.3%	243,5 k €	-37.0%	386,6 k €	+126%	171,3 k €	-61.0%	439,1 k €	+15.7%	379,7 k €
EBITDA	183 k €	-26.6%	249,3 k €	+31.5%	189,5 k €	+5.7%	179,4 k €	-0.4%	180 k €	-1.7%	183,1 k €	-18.7%	225,3 k €	-9.3%	248,3 k €	-28.6%	347,7 k €	+34.3%	258,9 k €	+0.2%	258,5 k €	-27.1%	354,6 k €	+27.7%	277,6 k €	+95.9%	141,7 k €	-18.5%	173,8 k €	-26.0%	235 k €	-37.0%	373,3 k €	+129%	163,4 k €	-62.1%	431 k €	+15.8%	372 k €
Operating result	82,3 k €	-44.6%	148,6 k €	+66.6%	89,2 k €	+11.9%	79,7 k €	+1.5%	78,5 k €	-6.2%	83,7 k €	-33.0%	124,8 k €	-16.0%	148,7 k €	-40.1%	248,1 k €	+54.3%	160,8 k €	+0.4%	160,1 k €	-37.4%	255,8 k €	+60.3%	159,6 k €	+1887%	8 k €	+114%	-57,6 k €	-201%	56,9 k €	-82.3%	321,3 k €	+158%	124,5 k €	-68.0%	389,3 k €	+21.1%	321,5 k €
Net result	93,8 k €	-39.1%	154 k €	+58.4%	97,3 k €	+50.0%	64,9 k €	+12.9%	57,4 k €	-8.3%	62,6 k €	-29.3%	88,6 k €	-17.6%	107,5 k €	-38.7%	175,5 k €	+37.4%	127,7 k €	-2.0%	130,2 k €	+0.1%	130,1 k €	-19.6%	161,8 k €	+834%	-22 k €	+63.1%	-59,8 k €	-197%	61,7 k €	-74.7%	244,3 k €	+110%	116,5 k €	-57.4%	273,1 k €	-5.8%	290 k €
Balance sheet
Equity	3,5 M €	+2.7%	3,4 M €	+4.7%	3,3 M €	+3.0%	3,2 M €	+2.1%	3,1 M €	+1.9%	3,1 M €	+2.1%	3 M €	+3.0%	2,9 M €	+3.8%	2,8 M €	+6.7%	2,6 M €	+5.1%	2,5 M €	+5.5%	2,4 M €	+5.8%	2,2 M €	+7.8%	2,1 M €	-1.0%	2,1 M €	+34.6%	1,6 M €	+4.1%	1,5 M €	+19.5%	1,3 M €	+10.2%	1,1 M €	+31.6%	865,3 k €
Total assets	3,5 M €	+2.6%	3,5 M €	+4.7%	3,3 M €	+3.1%	3,2 M €	+1.9%	3,1 M €	+1.8%	3,1 M €	+2.3%	3 M €	+2.3%	2,9 M €	-24.6%	3,9 M €	+0.1%	3,9 M €	+3.1%	3,8 M €	+0.9%	3,7 M €	-6.7%	4 M €	-0.4%	4 M €	+0.1%	4 M €	+149%	1,6 M €	+1.9%	1,6 M €	+16.9%	1,4 M €	+6.1%	1,3 M €	+22.2%	1 M €
Cash	273,5 k €	+30.6%	209,4 k €	-31.1%	304 k €	+109%	145,3 k €	-90.1%	1,5 M €	+10.3%	1,3 M €	+12.6%	1,2 M €	+26.6%	938 k €	+20.6%	777,8 k €	+52.2%	511 k €	+136%	216,8 k €	+156%	84,6 k €	-47.2%	160,2 k €	+81.1%	88,4 k €	+811%	9,7 k €	-92.0%	122 k €	-86.4%	895,1 k €	+3165%	27,4 k €	-29.6%	39 k €	+215%	12,4 k €
Debts	12,4 k €	-13.1%	14,2 k €	+5.5%	13,5 k €	-12.7%	15,5 k €	-2.2%	15,8 k €	-20.5%	19,9 k €	+21.3%	16,4 k €	-18.1%	20 k €	-98.1%	1 M €	-19.1%	1,3 M €	-0.7%	1,3 M €	+0.1%	1,3 M €	-23.2%	1,7 M €	-9.6%	1,8 M €	-3.7%	1,9 M €	+3612%	51,5 k €	-31.0%	74,7 k €	-20.5%	93,9 k €	-27.4%	129,4 k €	-22.4%	166,8 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 4 ended

Active mandates

Frédéric BAELEN

Director

Active

Isabelle TURKERY

Director

Active

Ended mandates

Frédéric Baelen

Manager · since 26 avril 2002

Ended

Maurice Baelen

Manager · since 26 avril 2002

Ended

Frédéric BAELEN

Manager

Ended

Maurice BAELEN

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
BAELEN INVEST● Active	0478.347.976
BATHOS● Active	0476.173.097

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Abridged 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	26/05/2026	22/05/2025	28/05/2024	24/05/2023	01/06/2022	25/05/2021
General meeting	16/05/2026	17/05/2025	18/05/2024	20/05/2023	21/05/2022	15/05/2021
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
Micro model	31/12/2025	16/05/2026	26/05/2026	Dutch	PDF
Micro model	31/12/2024	17/05/2025	22/05/2025	Dutch	PDF
Micro model	31/12/2023	18/05/2024	28/05/2024	Dutch	PDF
Micro model	31/12/2022	20/05/2023	24/05/2023	Dutch	PDF
Micro model	31/12/2021	21/05/2022	01/06/2022	Dutch	PDF
Abridged model	31/12/2020	15/05/2021	25/05/2021	Dutch	PDF
Micro model	31/12/2019	16/05/2020	19/05/2020	Dutch	PDF
Micro model	31/12/2018	18/05/2019	20/05/2019	Dutch	PDF
Micro model	31/12/2017	06/06/2018	26/06/2018	Dutch	PDF
Micro model	31/12/2016	20/05/2017	05/07/2017	Dutch	PDF
Abridged model	31/12/2015	21/05/2016	01/06/2016	Dutch	PDF
Abridged model	31/12/2014	16/05/2015	18/05/2015	Dutch	PDF
Abridged model	31/12/2013	17/05/2014	30/05/2014	Dutch	PDF
Abridged model	31/12/2012	18/05/2013	03/06/2013	Dutch	PDF
Abridged model	31/12/2011	19/05/2012	31/05/2012	Dutch	PDF
Abridged model	31/12/2010	21/05/2011	08/06/2011	Dutch	PDF
Abridged model	31/12/2009	15/05/2010	08/06/2010	Dutch	PDF
Abridged model	31/12/2008	16/05/2009	02/06/2009	Dutch	PDF
Abridged model	31/12/2007	17/05/2008	23/05/2008	Dutch	PDF
Abridged model	31/12/2006	19/05/2007	12/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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 · 4 ended

Active mandates

Frédéric BAELEN

Director

Active

Isabelle TURKERY

Director

Active

Ended mandates

Frédéric Baelen

Manager · since 26 avril 2002

Ended

Maurice Baelen

Manager · since 26 avril 2002

Ended

Frédéric BAELEN

Manager

Ended

Maurice BAELEN

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates31/03/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DIVERSEN - DOEL - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Capital / shares27/12/2011
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office22/11/2010
MAATSCHAPPELIJKE ZETEL
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 202593,8 k €↓
2024
Annual accounts 2024154 k €↑
2023
Annual accounts 202397,3 k €↑
2022
Annual accounts 202264,9 k €↑
2021
Annual accounts 202157,4 k €↓
2020
Annual accounts 202062,6 k €↓
2019
Annual accounts 201988,6 k €↓
2018
Annual accounts 2018107,5 k €↓
2017
Annual accounts 2017175,5 k €↑
2016
Annual accounts 2016127,7 k €↓
2015
Annual accounts 2015130,2 k €↑
2014
Annual accounts 2014130,1 k €↓
2013
Annual accounts 2013161,8 k €↑
2012
Annual accounts 2012-22 k €↑
2011
Annual accounts 2011-59,8 k €↓
2010
Annual accounts 201061,7 k €↓
2009
Annual accounts 2009244,3 k €↑
2008
Annual accounts 2008116,5 k €↓
2007
Annual accounts 2007273,1 k €↓
2006
Annual accounts 2006290 k €
06/05/2002
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

TOBCO

Overview

What does TOBCO do?

Trend over 20 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