Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 2 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 6 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
24 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Tog Mor Transport Chartering from Essen, company number BE0638774890, closed financial year 2025 with a result of € -9.2 million after tax. For that financial year Tog Mor Transport Chartering recorded revenue of € 17.9 million and equity of € -10.4 million. Compared with financial year 2024, the result moved from € -51.4 million to € -9.2 million. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 16, 2026.
€ -10.4 million
▲ € 17.8 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -9.2 million
▲ 82 % less loss than in 2024
Profit after tax over the fiscal year.
€ 5,364
▲ 25% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -39.7 million.
People and assets in 2025
5
Average over the fiscal year, from the social balance sheet.
€ 1.2 million
▼ 5% vs 2024
€ 235,100 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 50.2 million
▼ 18% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 2.3 million
▼ 53% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 31 days on average.
€ 1.1 million
▲ 90% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 5,878,002 | € 12,772,513 | € 42,152,199 | € 17,899,041 | ▼ 58% |
| Profit after taxes | € -3,127,896 | € -12,351,955 | € -51,409,481 | € -9,232,020 | ▲ € 42.2 million |
| Equity | € 35,603,344 | € 23,251,389 | € -28,158,091 | € -10,390,111 | ▲ € 17.8 million |
| Total debts | € 7,756,080 | € 76,280,540 | € 108,673,947 | € 77,317,488 | ▼ 29% |
| Cash | - | € 5,747 | € 4,296 | € 5,364 | ▲ 25% |
| Retained profit | € 33,249,344 | € 20,897,389 | € -30,512,091 | € -39,744,111 | ▼ € 9.2 million |
| Balance sheet total | € 43,359,424 | € 99,959,319 | € 81,751,331 | € 67,187,916 | ▼ 18% |
| Employees (FTE) | 2.1 | 4.3 | 5 | 5 |
Key figures of Tog Mor Transport Chartering, 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 Tog Mor Transport Chartering?
What happened at Tog Mor Transport Chartering in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Eduard Verlinden stepped down as director. NBB
- Edward Heerema stepped down as director. NBB
- Pieter Heerema stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 9.2 million. Source: NBB ↗
- Eduard Verlinden became a director. NBB
- Edward Heerema became a director. NBB
- Pieter Heerema became a director. NBB
- New establishment in Essen. KBO
In short
From € 3.1 million loss in 2022 to € 9.2 million loss in 2025.
Paid € 4.7 million in corporate taxes since 2022.
Pays suppliers within 31 days on average.
A new publication or filing at Tog Mor Transport Chartering? We notify you, reason included.
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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 shares are held by Allseas Group SA (100%).
Directors
According to the 2025 annual accounts
Eduard Verlinden
Director
Also active at: ALLSEAS MARINE SERVICES, Calamity Jane Transport Chartering, Solitaire Transport Chartering, Offshore Equipment Chartering, Oceanic Marine Contractors, CALAMITY JANE MARINE CONTRACTORS, Lorelay Marine Contractors, PIONEERING SPIRIT MARINE CONTRACTORS +10 more
since 2025 · until 2030
Edward Heerema
Chairman of the board
Also active at: ALLSEAS MARINE SERVICES, Audacia Transport Chartering, Calamity Jane Transport Chartering, Lorelay Transport Chartering, Solitaire Transport Chartering, Offshore Equipment Chartering, Fortitude Marine Contractors, Oceanic Marine Contractors +15 more
since 2024 · until 2027
Pieter Heerema
Managing director
Also active at: Audacia Transport Chartering, Calamity Jane Transport Chartering, Lorelay Transport Chartering, Solitaire Transport Chartering, Offshore Equipment Chartering, Fortitude Marine Contractors, Oceanic Marine Contractors, CALAMITY JANE MARINE CONTRACTORS +13 more
since 2024 · until 2027
Shareholders
Allseas Group SA
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Stationsstraat 180
2910 Essen
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 24 companies are registered at this address.
All companies at this address →ALLSEAS MARINE SERVICES same network
Audacia Transport Chartering same network
Calamity Jane Transport Chartering same network
€ 82.7 million revenue · 2025
Lorelay Transport Chartering same network
€ 94.7 million revenue · 2025
Solitaire Transport Chartering same network
€ 31.5 million revenue · 2025
+19 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0638.774.890
- VAT number
- BE 0638.774.890
- Registered office
- Stationsstraat 180, 2910 Essen
- Names & denominations
- Tog Mor Transport Chartering · TMTC
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 23 September 2015
- Peppol
- Active · Active since 5 Dec 2025
- Activities · NACE
Vervoer via pijpleidingen
Bouw van civiele schepen en drijvend materieel
Personenvervoer over zee- en kustwateren
Verhuur en lease van transportmiddelen voor vervoer over water
Logistieke diensten
Goederenvervoer over zee- en kustwateren
Vrachtbehandeling in zeehavens
Diensten in verband met vervoer over water
+1