ACTIVE

TNFO

Financial year 2025 · closed on 31/12/2025
Net result
38,2 M €
-36.3% YoY
Gross margin
-1,9 M €
-3.3% YoY
Equity
1,1 Md €
+3.7% YoY
Workforce
7,2 ETP
+33.3% YoY

What does TNFO do?

TNFO is a Public limited company incorporated in 2021. Its main activity is: Activities of holding companies. Its registered office is in Sint-Genesius-Rode. It employs on average 7,2 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0778.919.797
Incorporation
21/12/2021
Legal form
Public limited company
Registered office
Avenue des Genêts 12
1640 Sint-Genesius-Rode · FlandreSee on map
Contributed capital
29 544 860,00 €
Latest accounts
31/12/2025
Average workforce
7,2 ETP
Joint committees (2)
  • 100
  • 200
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowHealthy social debts
Health score
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Recommended credit limit
✦ Verdict · Analyst summary
Financials

Trend over 4 financial years

2025202420232022
Income statement
Gross margin-1,9 M €-1,8 M €-1,2 M €-1 M €
EBITDA-2,9 M €-2,7 M €-2,1 M €-1,7 M €
Operating result-2,9 M €-2,8 M €-2,2 M €-1,7 M €
Net result38,2 M €60 M €9,9 M €193,3 M €
Balance sheet
Equity1,1 Md €1 Md €964,4 M €954,5 M €
Total assets1,1 Md €1 Md €986,3 M €1,1 Md €
Cash4,7 M €519 k €797,9 k €1,5 M €
Debts44,6 M €1,1 M €21,2 M €128,8 M €
Other
Workforce7,2 ETP5,4 ETP4,9 ETP3,1 ETP
Estimate

Indicative valuation

As an indication, this company is worth

more than 1.000 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 4 ended

Active mandates

Alain Nijs

Director · since 17 décembre 2021 · until 18 juin 2027

Active
Anouk Schoors

Director · since 17 décembre 2021 · until 18 juin 2027

Active
Els Thermote

Director · since 17 décembre 2021 · until 18 juin 2027

Active
Louis Dhont

Director · since 17 décembre 2021 · until 18 juin 2027

Active
WELAKO

Director · since 17 décembre 2021 · until 18 juin 2027 · 0508.580.995

Represented by John Laebens

Active

Ended mandates

Alain Nijs

Director · since 17 décembre 2021 · until 18 juin 2024

Ended
Laurent Vannest

Director · since 17 décembre 2021 · until 10 octobre 2024

Ended
Laurent Vannest

Director · since 17 décembre 2021 · until 18 juin 2027

Ended
Louis Peter Dhont

Director · since 17 décembre 2021 · until 18 juin 2027

Ended
At this address

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Annual accounts

Full financial information

2025202420232022
Type of accountAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202321/12/2021
Closing of the financial year31/12/202531/12/202431/12/202331/12/2022
Length of the financial year12 months12 months12 months13 months
Filing date17/07/202618/07/202529/07/202414/07/2023
General meeting19/06/202620/06/202530/06/202416/06/2023
Currency of the financial yearEUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

4 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202519/06/202617/07/2026DutchPDF
Abridged model31/12/202420/06/202518/07/2025DutchPDF
Abridged model31/12/202330/06/202429/07/2024DutchPDF
Abridged model31/12/202216/06/202314/07/2023DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

more than 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 · 5 active · 4 ended

Active mandates

Alain Nijs

Director · since 17 décembre 2021 · until 18 juin 2027

Active
Anouk Schoors

Director · since 17 décembre 2021 · until 18 juin 2027

Active
Els Thermote

Director · since 17 décembre 2021 · until 18 juin 2027

Active
Louis Dhont

Director · since 17 décembre 2021 · until 18 juin 2027

Active
WELAKO

Director · since 17 décembre 2021 · until 18 juin 2027 · 0508.580.995

Represented by John Laebens

Active

Ended mandates

Alain Nijs

Director · since 17 décembre 2021 · until 18 juin 2024

Ended
Laurent Vannest

Director · since 17 décembre 2021 · until 10 octobre 2024

Ended
Laurent Vannest

Director · since 17 décembre 2021 · until 18 juin 2027

Ended
Louis Peter Dhont

Director · since 17 décembre 2021 · until 18 juin 2027

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates24/10/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office14/02/2023
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Other06/12/2022
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - WIJZIGING RECHTSVORM
    PDF
  • Other06/12/2022
    DIVERSEN
    PDF
  • Mandates04/02/2022
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other23/12/2021
    RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
    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 202538,2 M €
  2. 2024
    Annual accounts 202460 M €
  3. 2023
    Annual accounts 20239,9 M €
  4. 2022
    Annual accounts 2022193,3 M €
  5. 21/12/2021
    IncorporationPublic limited company