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 4 of the last 4 fiscal years.
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Tight liquidity NBB
Cash and receivables cover 28 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
TORG SC SPRL from Namur, company number BE0865705303, closed financial year 2025 with a result of € 6,362 after tax. For that financial year TORG SC SPRL recorded a gross margin of € 74,793 and equity of € -163,369. Compared with financial year 2024, the result moved from € -2,221 to € 6,362. Profitable, and profit is growing. 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 January 30, 2026.
€ -163,369
▲ € 6,362 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 6,362
▲ still € 2,221 loss in 2024
Profit after tax over the fiscal year.
€ 36,400
▲ 128% 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 € -169,569.
People and assets in 2025
€ 239,486
▼ 15% vs 2024
Of which on lease € 224,630.
Debts at end 2025
€ 332,916
▼ 8% vs 2024
€ 27,500 is repaid this year. At this pace the long-term loan is gone in ≈ 12 years.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 69,858 | € 65,130 | € 68,200 | € 74,793 | ▲ 10% |
| Profit after taxes | € -4,408 | € -7,167 | € -2,221 | € 6,362 | ▲ € 8,582 |
| Equity | € -160,344 | € -167,511 | € -169,731 | € -163,369 | ▲ € 6,362 |
| Total debts | € 563,231 | € 520,632 | € 470,593 | € 441,159 | ▼ 6% |
| Cash | € 9,381 | € 10,831 | € 15,972 | € 36,400 | ▲ 128% |
| Retained profit | € -166,544 | € -173,711 | € -175,931 | € -169,569 | ▲ € 6,362 |
| Bank debt | € 461,228 | € 412,390 | € 362,351 | € 332,916 | ▼ 8% |
| Balance sheet total | € 402,887 | € 353,122 | € 300,862 | € 277,789 | ▼ 8% |
Key figures of TORG SC SPRL, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to TORG SC SPRL?
What happened at TORG SC SPRL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 6,362. Source: NBB ↗
- Start of the company according to the CBE. KBO
In short
From € 4,408 loss in 2022 to € 6,362 profit in 2025.
Best year ever: 2025, with € 6,362 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
Behind TORG SC SPRL are Thierry CLEVE and Philippe CLEVE. Thierry CLEVE is also behind CLEVE THIERRY.
Directors
According to the 2025 annual accounts
Philippe CLEVE
Associate
Establishments
Establishment units
Physical locations of this company
Rue Lieut.Col.Maniette(TX) 42/44
5020 Namur
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0865.705.303
- VAT number
- BE 0865.705.303
- Registered office
- Rue Lieut.Col.Maniette(TX) 42/44, 5020 Namur
- Names & denominations
- TORG SC SPRL
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 10 June 2004
- Peppol
- Active · Active since 11 Mar 2026