Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 15 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
70 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
TOF Belgium Real Estate from Anderlecht, company number BE0447691919, closed financial year 2025 with a result of € 533,517 after tax. For that financial year TOF Belgium Real Estate recorded a gross margin of € 1 million and equity of € 18.3 million. Compared with financial year 2024, the result moved from € 309,786 to € 533,517. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 7, 2026.
€ 18.3 million
▲ 3% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 533,517
▲ 72% vs 2024
Profit after tax over the fiscal year.
€ 17,537
▼ 58% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 1.7 million.
Debts at end 2025
€ 8 million
▼ 18% vs 2024
€ 733,543 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 220,071
▼ 60% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 148,197
▼ 5% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 1,639,886 | € 2,221,337 | - | - | |
| Gross margin | € 600,226 | € 3,084,900 | € 1,439,532 | € 1,009,517 | ▼ 30% |
| Profit after taxes | € -9,567 | € 1,713,754 | € 309,786 | € 533,517 | ▲ 72% |
| Equity | € 15,703,649 | € 17,417,403 | € 17,727,188 | € 18,260,705 | ▲ 3% |
| Total debts | € 17,814,532 | € 19,216,202 | € 16,486,419 | € 14,640,108 | ▼ 11% |
| Cash | € 88,754 | € 139,129 | € 41,483 | € 17,537 | ▼ 58% |
| Land & buildings | € 10,906,061 | € 12,478,692 | € 11,899,193 | € 11,175,632 | ▼ 6% |
| Retained profit | € -847,192 | € 866,561 | € 1,176,347 | € 1,709,864 | ▲ 45% |
| Bank debt | € 11,305,928 | € 11,498,237 | € 9,653,953 | € 7,953,993 | ▼ 18% |
| Balance sheet total | € 35,655,288 | € 38,695,941 | € 36,187,887 | € 34,684,604 | ▼ 4% |
Key figures of TOF Belgium Real Estate, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to TOF Belgium Real Estate?
What happened at TOF Belgium Real Estate in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 533,517 (▲ 72% vs 2024). Source: NBB ↗
- New establishment in Elsene. KBO
- Start of the company according to the CBE. KBO
In short
From € 9,567 loss in 2022 to € 533,517 profit in 2025.
Paid € 1.1 million in corporate taxes since 2022.
Best year ever: 2023, with € 1.7 million profit.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of DE WEER, DES comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
TOF Belgium Real EstateBehind TOF Belgium Real Estate are Marc CEPEL and Serge DRIJVERS. The shares are held by DE WEER (50%) and DES (50%). It owns 100% of Midcore Property Services, 100% of Albino, 100% of TAC, 100% of Immobiliere Des Cinqs Vallees, 100% of North Trade Building and 100% of Andivi itself.
Directors
According to the 2025 annual accounts
Marc CEPEL
Director
Serge DRIJVERS
Director
Also active at: EGLANTIER, DE WEER, DE AFSLUITER, DES, GRANY, ALBINO, I.NA - IMMOBILIERE NAMUROISE, IMMOVAP +9 more
Participations
100%
100%
100%
100%
100%
30%
Establishments
Establishment units
Physical locations of this company
Lennikse Baan 451
1070 Anderlecht
Louizalaan 235
1050 Elsene
Active since 14 July 1992
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 70 companies are registered at this address.
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What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0447.691.919
- VAT number
- BE 0447.691.919
- Registered office
- Lennikse Baan 451, 1070 Anderlecht
- Names & denominations
- TOF Belgium Real Estate
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 29 June 1992
- Peppol
- Active · Active since 7 Nov 2025
- Activities · NACE
Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen