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 63 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
TERCOFIN BARGING from Liège, company number BE0718602427, closed financial year 2025 with a result of € 186,516 after tax. For that financial year TERCOFIN BARGING recorded revenue of € 2.8 million and equity of € 786,325. Compared with financial year 2024, the result moved from € 98,121 to € 186,516. Profitable, and profit is growing. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 1, 2026.
€ 786,325
▲ 28% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 186,516
▲ 90% vs 2024
Profit after tax over the fiscal year.
€ 88,454
▲ € 77,600 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 € 3,218.
People and assets in 2025
7.7
▲ 2.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 500,451
▲ 36% vs 2024
€ 65,000 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.
€ 4,405
▼ 33% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 5.1 million
▼ 8% vs 2024
€ 549,220 is repaid this year. At this pace the long-term loan is gone in ≈ 8 years.
€ 118,580
▼ 41% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 26 days on average.
€ 96,391
▲ 2% vs 2024
Taxes, VAT and social contributions still to pay.
Want to see how much further we take a dossier in the Pro version? Open the free De Lijn example and give feedback →
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 1,514,778 | € 2,380,398 | € 2,621,930 | € 2,791,788 | ▲ 6% |
| Profit after taxes | € -54,338 | € 98,632 | € 98,121 | € 186,516 | ▲ 90% |
| Equity | € 449,202 | € 532,452 | € 615,191 | € 786,325 | ▲ 28% |
| Total debts | € 4,093,168 | € 6,147,686 | € 5,794,330 | € 5,305,299 | ▼ 8% |
| Cash | € 12,364 | € 52,137 | € 10,854 | € 88,454 | ▲ € 77,600 |
| Retained profit | € -380,052 | € -281,420 | € -183,298 | € 3,218 | ▲ € 186,516 |
| Bank debt | € 3,850,002 | € 5,835,402 | € 5,498,358 | € 5,055,328 | ▼ 8% |
| Balance sheet total | € 4,542,370 | € 6,680,138 | € 6,409,521 | € 6,091,624 | ▼ 5% |
| Employees (FTE) | 0.2 | 2 | 4.9 | 7.7 | ▲ 2.8 |
Key figures of TERCOFIN BARGING, 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 TERCOFIN BARGING?
What happened at TERCOFIN BARGING in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Johan GEMELS stepped down as director. NBB
- Nicolas LIMBIOUL stepped down as director. NBB
- TERCOFIN SA stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 186,516 (▲ 90% vs 2024). Source: NBB ↗
- Johan GEMELS became a director. NBB
- Nicolas LIMBIOUL became a director. NBB
- TERCOFIN SA became a director. NBB
- New establishment in Liège. KBO
In short
From € 54,338 loss in 2022 to € 186,516 profit in 2025.
Best year ever: 2025, with € 186,516 profit.
Pays suppliers within 26 days on average.
A new publication or filing at TERCOFIN BARGING? We notify you, reason included.
Follow TERCOFIN BARGINGDatabakkes Pro
Know what changes at your customers, suppliers and competitors. Without reading an annual account.
- Follow them in one folder Every company in your folder gets this full dossier: household book, all fiscal years, benchmark against companies of the same size.
- We alert you, with the reason New annual account, Official Gazette publication or status change: you get what changed and where it says so.
- In bulk too, and in ChatGPT and Claude Upload your customer list and get the warning signs back per company. Or ask in your own AI assistant, with this register as the source.
Databakkes Pro is being built. Sign up now and you are first in line for an invitation, with a month to try without a credit card.
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 TERCOFIN comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
TERCOFIN BARGINGThe shares are held by TERCOFIN (100%).
Directors
According to the 2025 annual accounts
Johan GEMELS
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, DP World Liège, LIEGE CONTAINER TERMINAL +1 more
since 2024 · until 2030
Nicolas LIMBIOUL
Director
Also active at: Société Industrielle de Renory, LIEGE LOGISTICS INTERMODAL, TRANSPORT FLUVIAL DE CONTENEURS, TERCOFIN, LIBACHOT
since 2024 · until 2030
Managing director · represented by Vincent BRASSINNE
Also active at: LIEGE LOGISTICS INTERMODAL, TRANSPORT FLUVIAL DE CONTENEURS
since 2024 · until 2030
Shareholders
100%
Participations
No participations in other companies reported.
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
- 0718.602.427
- VAT number
- BE 0718.602.427
- Registered office
- Rue de Renory 501 bus A, 4031 Liège
- Names & denominations
- TERCOFIN BARGING
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 11 January 2019
- Peppol
- Active · Active since 5 Jan 2026
- Activities · NACE
Goederenvervoer over binnenwateren
Verhuur en lease van transportmiddelen voor vervoer over water