ACTIVE

TSF Factory

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Financial year 2025 · closed on 31/12/2025
Net result
-235,6 k €
-177.0% YoY
Gross margin
58,2 k €
-82.0% YoY
Equity
196 k €
-54.6% YoY
Workforce
4,3 ETP
-42.7% YoY

What does TSF Factory do?

TSF Factory is a Private limited company incorporated in 2016. Its main activity is: Manufacture of weapons and ammunition. Its registered office is in Ans. It employs on average 4,3 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0655.703.370
Incorporation
27/05/2016
Legal form
Private limited company
Registered office
Avenue de l'Energie 25
4432 Ans · WallonieSee on map
Contributed capital
1 056 201,00 €
Latest accounts
31/12/2025
Average workforce
4,3 ETP
Activities (NACE)
25401Manufacture of weapons and ammunition· main25501Forging, pressing, stamping and roll-forming of metal; powder metallurgy47400Retail sale of information and communication equipment in specialised stores47430Retail sale of audio and video equipment in specialised stores46190Agents involved in the sale of a variety of goods46190Agents involved in the sale of a variety of goods+4
Joint committees (2)
  • 111
  • 209
Signals
Solid equityGood liquidityHealthy social debts
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 9 financial years

202520242023202220212020201920182017
Income statement
Gross margin58,2 k €322,9 k €840,1 k €557,8 k €672 k €375,1 k €3,6 k €36,3 k €2,9 k €
EBITDA-184,7 k €-5,6 k €182,3 k €-12,5 k €236 k €61 k €3,2 k €35,9 k €2,1 k €
Operating result-227 k €-71,6 k €-105,7 k €-306,7 k €29 k €-85,9 k €2,9 k €34,5 k €1,3 k €
Net result-235,6 k €-85 k €-130,9 k €-342,4 k €5,7 k €-95,5 k €115,2 €23 k €446,8 €
Balance sheet
Equity196 k €431,5 k €516,6 k €647,5 k €989,9 k €-65,7 k €29,7 k €29,6 k €6,6 k €
Total assets305 k €965,5 k €1,7 M €2,6 M €2,6 M €2,5 M €1,4 M €234,4 k €389,8 k €
Cash11,7 k €12,4 k €11,5 k €15,6 k €77 k €224,7 k €4,9 k €15,8 k €33,8 k €
Debts107,9 k €533,9 k €1,2 M €1,9 M €1,6 M €2,5 M €1,4 M €203 k €381,6 k €
Other
Workforce4,3 ETP7,5 ETP10,4 ETP9,2 ETP8,9 ETP7,0 ETP–––
Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 2 ended

Active mandates

Laurent Simon

Director · since 11 mai 2021

Active

Ended mandates

Laurent Simon

Director · since 24 mai 2016

Ended
Laurent Simon

Manager · since 24 mai 2016

Ended
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Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged 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 date08/07/202615/07/202518/07/202414/07/202307/07/202231/08/2021
General meeting19/06/202624/06/202519/06/202405/07/202327/06/202228/06/2021
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

9 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202519/06/202608/07/2026FrenchPDF
Abridged model31/12/202424/06/202515/07/2025FrenchPDF
Abridged model31/12/202319/06/202418/07/2024FrenchPDF
Abridged model31/12/202205/07/202314/07/2023FrenchPDF
Abridged model31/12/202127/06/202207/07/2022FrenchPDF
Abridged model31/12/202028/06/202131/08/2021FrenchPDF
Abridged model31/12/201914/09/202005/10/2020FrenchPDF
Abridged model31/12/201803/07/201917/07/2019FrenchPDF
Abridged model31/12/201704/07/201817/07/2018FrenchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 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 · 1 active · 2 ended

Active mandates

Laurent Simon

Director · since 11 mai 2021

Active

Ended mandates

Laurent Simon

Director · since 24 mai 2016

Ended
Laurent Simon

Manager · since 24 mai 2016

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates24/08/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Registered office26/01/2023
    SIEGE SOCIAL
    PDF
  • Mandates03/03/2022
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates28/05/2021
    CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - MODIFICATION FORME JURIDIQUE
    PDF
  • Mandates28/02/2020
    DENOMINATION - SIEGE SOCIAL - OBJET
    PDF
  • Mandates22/03/2017
    DENOMINATION - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …)
    PDF
  • Other16/02/2017
    ANNEE COMPTABLE
    PDF
  • Other31/05/2016
    RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
    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. 2025
    Annual accounts 2025-235,6 k €↓
  2. 2024
    Annual accounts 2024-85 k €↑
  3. 2023
    Annual accounts 2023-130,9 k €↑
  4. 2022
    Annual accounts 2022-342,4 k €↓
  5. 2021
    Annual accounts 20215,7 k €↑
  6. 2020
    Annual accounts 2020-95,5 k €↓
  7. 2019
    Annual accounts 2019115,2 €↓
  8. 2019
    Name changeTSF Factory
  9. 2018
    Annual accounts 201823 k €↑
  10. 2017
    Annual accounts 2017446,8 €
  11. 2017
    Name changeTSF.be Bruxelles
  12. 27/05/2016
    IncorporationPrivate limited company