ACTIVE

TSF Belgique

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Financial year 2025 · Closed on 31/12/2025

Net result-31,4 k €+92,2 %over 1 year
Gross margin1,6 M €-13,0 %over 1 year
Equity3,5 M €-0,4 %over 1 year
Workforce10,6 ETP+8,2 %over 1 year

Identity

Source · BCE/KBO

TSF Belgique is a Public limited company incorporated in 2009. Its main activity is: Manufacture of communication equipment. Its registered office is in Ans. It employs on average 10,6 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0817.342.586
Incorporation
27/07/2009
Legal form
Public limited company
Registered office
Avenue de l'Energie 25 box Hall X
4432 Ans · WallonieSee on map
Contributed capital
530 531,20 €
Latest accounts
31/12/2025
Average workforce
10,6 ETP
Joint committees (2)
  • 111
  • 209
Signals
Solid equityLow riskPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 16 filings

Trend over 16 financial years

20252024202320222021
Income statement
Gross margin1,6 M €1,8 M €1,8 M €1,5 M €1,4 M €
EBITDA789,4 k €719,4 k €919,8 k €899 k €951,5 k €
Operating result42 k €320,4 k €-17,7 k €55 k €19,9 k €
Net result-31,4 k €-402,1 k €-19,1 k €-27,3 k €-25,2 k €
Balance sheet
Equity3,5 M €3,6 M €3,9 M €3,9 M €3,9 M €
Total assets5,7 M €5,8 M €5,5 M €5,8 M €5,5 M €
Cash153,6 k €84,4 k €278,5 k €121,4 k €131,4 k €
Debts2,1 M €2,3 M €1,6 M €1,9 M €1,6 M €
Other
Workforce10,6 ETP9,8 ETP10,6 ETP11,8 ETP9,1 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 18 ended

Active mandates

TROIS SANS TROIS SA

Director · since 05 juillet 2023 · until 05 juillet 2029

Represented by Thierry DENOYER de SEGONZAC

Active
Frédéric ANDRE

Director · since 03 juillet 2019 · until 06 juin 2031

Active
Laurent SIMON

Managing director · since 22 octobre 2010 · until 30 juin 2028

Active

Ended mandates

TROIS SANS TROIS SA

Director · since 05 juillet 2023 · until 05 juillet 2029 · 0883.451.866

Represented by Thierry DUNOYER DE SEGONZAC

Ended
Laurent SIMON

Managing director · since 27 juin 2022 · until 30 juin 2028

Ended
Thierry DUNOYER DE SEGONZAC

Director · since 27 juin 2022 · until 05 juillet 2023

Ended
Thierry DUNOYER DE SEGONZAC

Director · since 27 juin 2022 · until 30 juin 2028

Ended

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Avenue de l'Energie 25 4432 Ans
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JLP IMMO● Active
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JS CARRELAGE● Active
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JVB Technics● Active
0666.960.518
LOUISED● Active
0476.993.936
Masha Automotive● Active
1006.998.768
MENUISERIE PIRGHAYE● Active
0670.739.162
MHN● Active
0644.991.701
SEMAT WATCH● Active
1033.644.965
Shengsheng Supply Chain Management● Active
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TSF Factory● Active
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TSF Groupe● Active
0738.448.033

Full financial information

Source · NBB
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 date08/07/202617/07/202518/07/202414/07/202307/07/202231/08/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 16 filings
ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202519/06/202608/07/2026FrenchPDF
Abridged model31/12/202424/06/202517/07/2025FrenchPDF
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 model31/12/201911/09/202029/10/2020FrenchPDF
Abridged model31/12/201803/07/201916/07/2019FrenchPDF
Abridged model31/12/201704/07/201813/07/2018FrenchPDF
Abridged model31/12/201626/06/201704/07/2017FrenchPDF
Full model31/12/201524/06/201619/07/2016FrenchPDF
Full model31/12/201405/06/201530/06/2015FrenchPDF
Full model31/12/201320/06/201429/08/2014FrenchPDF
Full model31/12/201217/06/201305/07/2013FrenchPDF
Full model31/12/201131/08/201231/08/2012FrenchPDF
Abridged model31/12/201030/08/201131/08/2011FrenchPDF

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.

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 18 ended

Active mandates

TROIS SANS TROIS SA

Director · since 05 juillet 2023 · until 05 juillet 2029

Represented by Thierry DENOYER de SEGONZAC

Active
Frédéric ANDRE

Director · since 03 juillet 2019 · until 06 juin 2031

Active
Laurent SIMON

Managing director · since 22 octobre 2010 · until 30 juin 2028

Active

Ended mandates

TROIS SANS TROIS SA

Director · since 05 juillet 2023 · until 05 juillet 2029 · 0883.451.866

Represented by Thierry DUNOYER DE SEGONZAC

Ended
Laurent SIMON

Managing director · since 27 juin 2022 · until 30 juin 2028

Ended
Thierry DUNOYER DE SEGONZAC

Director · since 27 juin 2022 · until 05 juillet 2023

Ended
Thierry DUNOYER DE SEGONZAC

Director · since 27 juin 2022 · until 30 juin 2028

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates06/03/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates09/09/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates26/10/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates24/08/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates11/04/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Registered office28/02/2023
    SIEGE SOCIAL
    PDF
  • Mandates27/12/2021
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates19/02/2020
    DENOMINATION - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …)
    PDF

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 2025-31,4 k €↑
  2. 2024
    Annual accounts 2024-402,1 k €↓
  3. 2023
    Annual accounts 2023-19,1 k €↑
  4. 2022
    Annual accounts 2022-27,3 k €↓
  5. 2021
    Annual accounts 2021-25,2 k €↑
  6. 2020
    Annual accounts 2020-382,9 k €↓
  7. 2019
    Annual accounts 20191,5 k €↓
  8. 2019
    Name changeTSF BELGIQUE
  9. 2018
    Annual accounts 2018289,9 k €↓
  10. 2017
    Annual accounts 2017377,7 k €↓
  11. 2016
    Annual accounts 2016418,3 k €↑
  12. 2015
    Annual accounts 2015379,4 k €↑
  13. 2014
    Annual accounts 2014359,5 k €↑
  14. 2013
    Annual accounts 2013102,1 k €↓
  15. 2012
    Annual accounts 2012135,4 k €↓
  16. 2011
    Annual accounts 2011331,9 k €↑
  17. 2010
    Annual accounts 201046,9 k €
  18. 2010
    Name changeTSF.be
  19. 27/07/2009
    IncorporationPublic limited company