ACTIVE

TERCOFIN

Financial year 2026 · Closed on 30/06/2026

Net result961,2 k €-15,6 %over 1 year

Equity6,6 M €+12,2 %over 1 year

Identity

Source · BCE/KBO

TERCOFIN is a Public limited company incorporated in 2016. Its main activity is: Activities of holding companies. Its registered office is in Liège.

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0664.878.481
Incorporation: 21/10/2016
Legal form: Public limited company
Registered office: Rue de Renory 501 box A
4031 Liège · WallonieSee on map
Contributed capital: 3 050 000,00 €
Latest accounts: 30/06/2026

Activities (NACE)

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

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflow

Financials

Source · NBB, 9 filings

Trend over 9 financial years

	2026		2025		2024		2023		2022
Income statement
Revenue	–		–		–		71,3 k €	+42.5%	50 k €
EBITDA	-337,2 k €	-627%	-46,4 k €	+43.2%	-81,7 k €	+41.9%	-140,5 k €	-47.7%	-95,1 k €
Operating result	-345,1 k €	-536%	-54,3 k €	+37.2%	-86,4 k €	+38.5%	-140,5 k €	-43.0%	-98,3 k €
Net result	961,2 k €	-15.6%	1,1 M €	+54.8%	735,8 k €	-64.6%	2,1 M €	+47.0%	1,4 M €
Balance sheet
Equity	6,6 M €	+12.2%	5,9 M €	+2.4%	5,7 M €	+8.3%	5,3 M €	-5.4%	5,6 M €
Total assets	7,4 M €	+3.6%	7,1 M €	+18.5%	6 M €	-4.2%	6,3 M €	-3.8%	6,5 M €
Cash	3,3 M €	+330%	764,4 k €	-67.1%	2,3 M €	+69.7%	1,4 M €	-38.5%	2,2 M €
Debts	822,8 k €	-35.7%	1,3 M €	+320%	304,4 k €	-69.6%	1 M €	+20.0%	833,9 k €

Valuation

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Board of directors

Source · NBB, accounts to 30/06/2026

4 active · 4 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Johan GEMELS	Managing director19/10/2016 → 31/12/2028
Nicolas LIMBIOUL	Managing director19/10/2016 → 31/12/2028
NOVANDI0500.615.416Represented by Philippe PORTIER	Director19/09/2018 → 31/12/2028
Vincent BRASSINNE	Director16/05/2018 → 31/12/2028

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
FREYANTHICS0832.582.177Represented by Tom PAESHUYS	Director22/12/2016 → 22/03/2018
NOSHAQ0426.624.509Represented by Fabian MARCQ	Director06/12/2016 → 2019 accounts

Other companies at this address

Rue de Renory 501 4031 Liège

Company	CBE no.
TERCOFIN BARGING● Active	0718.602.427

Full financial information

Source · NBB

	2026	2025	2024	2023	2022	2021
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/07/2025	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020
Closing of the financial year	30/06/2026	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	24/09/2026	24/10/2025	12/09/2024	05/09/2023	06/10/2022	09/11/2021
General meeting	26/08/2026	20/10/2025	28/08/2024	30/08/2023	31/08/2022	01/09/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 9 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	30/06/2026	26/08/2026	24/09/2026	French	PDF
Full model	30/06/2025	20/10/2025	24/10/2025	French	PDF
Full model	30/06/2024	28/08/2024	12/09/2024	French	PDF
Full model	30/06/2023	30/08/2023	05/09/2023	French	PDF
Full model	30/06/2022	31/08/2022	06/10/2022	French	PDF
Full model	30/06/2021	01/09/2021	09/11/2021	French	PDF
Full model	30/06/2020	18/09/2020	06/11/2020	French	PDF
Full model	30/06/2019	06/11/2019	27/12/2019	French	PDF
Full model	30/06/2018	19/09/2018	05/10/2018	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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.

Board of directors

Source · NBB, accounts to 30/06/2026

4 active · 4 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Johan GEMELS	Managing director19/10/2016 → 31/12/2028
Nicolas LIMBIOUL	Managing director19/10/2016 → 31/12/2028
NOVANDI0500.615.416Represented by Philippe PORTIER	Director19/09/2018 → 31/12/2028
Vincent BRASSINNE	Director16/05/2018 → 31/12/2028

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
FREYANTHICS0832.582.177Represented by Tom PAESHUYS	Director22/12/2016 → 22/03/2018
NOSHAQ0426.624.509Represented by Fabian MARCQ	Director06/12/2016 → 2019 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates10/11/2022
DEMISSIONS, NOMINATIONS
PDF
Capital / shares31/12/2021
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS
PDF
Mandates14/09/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates02/09/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates16/11/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates15/02/2018
DEMISSIONS, NOMINATIONS
PDF
Other09/01/2018
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates13/06/2017
DEMISSIONS, NOMINATIONS
PDF

Similar companies

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings9 filings

Mandates

NOVANDI

Johan GEMELS

Vincent BRASSINNE

Nicolas LIMBIOUL

FREYANTHICS

NOSHAQ

NOSHAQ PARTNERS

Philippe PORTIER

2016201720182019202020212022202320242025202620272028

TERCOFIN

Rue de Renory 501 bte A, 4031 Angleur

Director

Managing director

Director

Managing director

Director

Chairman of the board of directors

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Rue de Renory 501 bte A, 4031 AngleurCurrent	accounts 2022 → 2026	Accounts 2026 · 2026-00522969

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
TERCOFINCurrent	accounts 2022 → 2026	Accounts 2026 · 2026-00522969

Events

2026
Annual accounts 2026961,2 k €↓
2025
Annual accounts 20251,1 M €↑
2024
Annual accounts 2024735,8 k €↓
2023
Annual accounts 20232,1 M €↑
2022
Annual accounts 20221,4 M €↓
2021
Annual accounts 20212,7 M €↑
2020
Annual accounts 2020-200,5 k €↓
2019
Annual accounts 2019855,2 k €↑
2018
Annual accounts 2018439,2 k €
21/10/2016
IncorporationPublic limited company

TERCOFIN

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events