Financials
Financial year 2026
TERCOFIN from Liège, company number BE0664878481, closed financial year 2026 with a result of € 961,231 after tax. Compared with financial year 2025, the result moved from € 1.1 million to € 961,231. The company is profitable. 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 September 24, 2026.
€ 6.6 million
▲ 12% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 961,231
▼ 16% vs 2025
Profit after tax over the fiscal year.
€ 3.3 million
▲ € 2.5 million vs 2025
Cash and bank balances on the last day of the fiscal year.
€ 250,000 paid out
26 % of the profit went to the shareholders, mostly to NOVANDI (84 % of the shares). That is where the money ends up.
Debts at end 2026
None
No bank loans on the last day of the fiscal year.
€ 296,793
▲ € 290,614 vs 2025
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 322 days on average.
€ 3,181
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Revenue | € 71,250 | - | - | - | |
| Profit after taxes | € 2,080,034 | € 735,824 | € 1,139,223 | € 961,231 | ▼ 16% |
| Equity | € 5,275,864 | € 5,711,688 | € 5,850,911 | € 6,562,142 | ▲ 12% |
| Total debts | € 1,000,842 | € 304,447 | € 1,278,985 | € 822,781 | ▼ 36% |
| Cash | € 1,370,377 | € 2,325,047 | € 764,420 | € 3,285,114 | ▲ € 2.5 million |
| Retained profit | € 2,225,864 | € 2,661,688 | € 2,800,911 | € 3,512,142 | ▲ 25% |
| Dividend | € 2,380,444 | € 300,000 | € 1,000,000 | € 250,000 | ▼ 75% |
| Balance sheet total | € 6,276,706 | € 6,016,135 | € 7,129,896 | € 7,384,923 | ▲ 4% |
Key figures of TERCOFIN, fiscal years 2023 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 30 January 2028.
What happened to TERCOFIN?
What happened at TERCOFIN in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Johan GEMELS stepped down as director. NBB
- Vincent BRASSINNE stepped down as director. NBB
- NOVANDI SRL stepped down as director. NBB
- Nicolas LIMBIOUL stepped down as director. NBB
- New annual accounts for financial year 2026: profit of € 961,231 (▼ 16% vs 2025). Source: NBB ↗
- Johan GEMELS became a director. NBB
- Vincent BRASSINNE became a director. NBB
- NOVANDI SRL became a director. NBB
In short
From € 2.1 million profit in 2023 to € 961,231 profit in 2026.
Paid € 3,181 in corporate taxes since 2023.
Best year ever: 2023, with € 2.1 million profit.
Paid out € 3.9 million in dividends to the owners in total.
A new publication or filing at TERCOFIN? 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 stake of NOVANDI, REGINA B. comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
TERCOFINThe shares are held by NOVANDI (83.8%) and REGINA B. (10%). It owns 100% of T.F.C, 100% of TERCOFIN BARGING, 90% of L.L.I, 50% of EUROMETROPORTS and 50% of L.C.T. itself.
Directors
According to the 2026 annual accounts
Johan GEMELS
Managing director
Also active at: CLECAT (European Association for Forwarding, Transport, Logistics and Customs Services), REGINA B., EUROMETROPORTS, LIEGE LOGISTICS INTERMODAL, TRANSPORT FLUVIAL DE CONTENEURS, TERCOFIN BARGING, DP World Liège, LIEGE CONTAINER TERMINAL +1 more
since 2022 · until 2028
Vincent BRASSINNE
Director
Also active at: Société Industrielle de Renory, LIEGE LOGISTICS INTERMODAL, TRANSPORT FLUVIAL DE CONTENEURS, VERSUS, TERCOFIN BARGING, ALINEAS SERVICES, DP World Liège, LIEGE CONTAINER TERMINAL
since 2022 · until 2028
Director · represented by Philippe PORTIER
Also active at: Société Industrielle de Renory, ATRIUM NOVANDI, VERSUS
since 2022 · until 2028
since 2022 · until 2028
Participations
Establishments
Establishment units
Physical locations of this company
Rue de Renory 501 box A
4031 Liège
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0664.878.481
- VAT number
- BE 0664.878.481
- Registered office
- Rue de Renory 501 bus A, 4031 Liège
- Names & denominations
- TERCOFIN
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 21 October 2016
- Peppol
- Active · Active since 5 Jan 2026
- Activities · NACE
Activiteiten van holdings
Holdings