ACTIVE

TPF UTILITIES

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Financial year 2025 · Closed on 31/12/2025

Net result1,2 M €+234,0 %over 1 year

Revenue32,3 M €+6,9 %over 1 year

Equity8,2 M €+16,3 %over 1 year

Workforce118,6 ETP-1,7 %over 1 year

Identity

Source · BCE/KBO

TPF UTILITIES is a Public limited company incorporated in 1968. Its main activity is: Sewerage. Its registered office is in Forest. It employs on average 118,6 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0406.406.442
Incorporation: 04/07/1968
Legal form: Public limited company
Registered office: Avenue de Haveskercke 46
1190 Forest · BruxellesSee on map
Contributed capital: 3 525 000,00 €
Latest accounts: 31/12/2025
Average workforce: 118,6 ETP

Activities (NACE)

37000Sewerage· main 37000Sewerage 90010Performing arts 42211Construction of utility projects for fluids 42211Construction of utility projects for fluids 42212Construction of utility projects for fluids+7

Joint committees (2)

Contacts

1 public detail availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 20 filings

Trend over 15 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	32,3 M €	+6.9%	30,2 M €	+4.8%	28,8 M €	+32.7%	21,7 M €	-3.1%	22,4 M €
EBITDA	1,9 M €	+95.7%	993,2 k €	+19.1%	834,2 k €	+44.5%	577,3 k €	-35.0%	888,7 k €
Operating result	1,8 M €	+105%	900,2 k €	+16.4%	773,1 k €	+104%	378,1 k €	+10.2%	343,1 k €
Net result	1,2 M €	+234%	344,5 k €	-83.2%	2 M €	+3169%	62,6 k €	-47.3%	118,8 k €
Balance sheet
Equity	8,2 M €	+16.3%	7 M €	+5.1%	6,7 M €	+44.0%	4,6 M €	+1.4%	4,6 M €
Total assets	20,1 M €	+13.1%	17,8 M €	-13.7%	20,6 M €	+32.2%	15,6 M €	+3.9%	15 M €
Cash	409,3 k €	-87.6%	3,3 M €	+65.3%	2 M €	-7.4%	2,2 M €	+32.5%	1,6 M €
Debts	8,8 M €	-5.1%	9,3 M €	-30.3%	13,3 M €	+27.1%	10,5 M €	+5.9%	9,9 M €
Other
Workforce	118,6 ETP	-1.7%	120,7 ETP	+11.6%	108,2 ETP	+14.5%	94,5 ETP	+3.3%	91,5 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 8 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
STRATOS CONSULT0441.816.786Represented by CHRISTOPHE GILAIN	Managing director12/12/2007 → 25/04/2028
THOMAS MR.SPITAELS	Director26/04/2004 → 25/04/2028

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
MICHEL MR.LACROIX	Director26/04/2016 → 2017 accounts
MICHEL MR.LEPOUTRE	Director26/04/2016 → 2017 accounts

Other companies at this address

Avenue de Haveskercke 46 1190 Forest

Company	CBE no.
ARCOTEAM - MULTIPROFESSIONELE ARCHITECTENVENNOOTSCHAP● Active	0443.951.083
CONSORTIUM FOR EAST EUROPEAN DEVELOPMENT● Active	0446.600.272
SM TPF-ARCADIS NEO1● Active	0506.904.875
SM TPF ENGINEERING-CROMWELL ARCHITECTS● Active	0834.161.693
SM VANCAMPENHOUT-TPF-BAGON● Active	0831.742.534
SOCIETE CAROLOREGIENNE DE GESTION THERMIQUE● Active	0434.844.961
STRATODEV● Active	0810.982.158
STRATOS CONSULT● Active	0441.816.786
T.P.F.● Active	0435.170.803
TPF CONTRACTING● Active	0402.527.630
T.P.F. - ENGINEERING● Active	0400.422.532
TPF ENGINEERING -ARCOTEAM - AREP● Active	0758.743.007
TPF ENGINEERING-ARCOTEAM-FIMATEC● Active	1023.112.943
TPF GROUP● Active	0459.966.773
T.P.F. HOLDING● Active	0466.977.497
TPF REAL ESTATE● Active	0806.715.841

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	23/08/2026	14/07/2025	07/10/2024	05/07/2023	14/06/2022	19/05/2021
General meeting	21/05/2026	08/07/2025	25/09/2024	16/06/2023	08/06/2022	07/05/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	21/05/2026	23/08/2026	French	PDF
Full model	31/12/2024	08/07/2025	14/07/2025	French	PDF
Full model	31/12/2023	25/09/2024	07/10/2024	French	PDF
Full model	31/12/2022	16/06/2023	05/07/2023	French	PDF
Full model	31/12/2021	08/06/2022	14/06/2022	French	PDF
Full model	31/12/2020	07/05/2021	19/05/2021	French	PDF
Full model	31/12/2019	28/04/2020	29/04/2020	French	PDF
Full model	31/12/2018	30/04/2019	06/05/2019	French	PDF
Full model	31/12/2017	24/04/2018	03/07/2018	French	PDF
Full model	31/12/2016	10/05/2017	20/06/2017	French	PDF
Full model	31/12/2015	26/04/2016	31/08/2016	French	PDF
Full model	31/12/2014	02/06/2015	15/06/2015	French	PDF
Full model	31/12/2013	26/05/2014	02/07/2014	French	PDF
Full model	31/12/2012	13/06/2013	02/07/2013	French	PDF
Full model	31/12/2011	08/06/2012	15/06/2012	French	PDF
Full model	31/12/2010	21/06/2011	23/06/2011	French	PDF
Full model	31/12/2009	03/06/2010	10/06/2010	French	PDF
Full model	31/12/2008	14/05/2009	29/06/2009	French	PDF
Full model	31/12/2007	05/06/2008	24/06/2008	French	PDF
Full model	31/12/2006	24/04/2007	30/05/2007	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 8 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
STRATOS CONSULT0441.816.786Represented by CHRISTOPHE GILAIN	Managing director12/12/2007 → 25/04/2028
THOMAS MR.SPITAELS	Director26/04/2004 → 25/04/2028

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
MICHEL MR.LACROIX	Director26/04/2016 → 2017 accounts
MICHEL MR.LEPOUTRE	Director26/04/2016 → 2017 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Other09/10/2026
DIVERS
PDF
Other18/11/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates11/09/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates06/07/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates30/09/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates06/03/2020
DEMISSIONS, NOMINATIONS
PDF
Other11/04/2019
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates29/09/2017
DEMISSIONS, NOMINATIONS
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings15 filings

Mandates

STRATOS CONSULT

THOMAS MR.SPITAELS

MICHEL MR.LEPOUTRE

MICHEL MR.LACROIX

NOSHAQ

BERNARD MR.DECKERS

Christophe GILAIN

PIERRE MR.KEVERS

JOHN CHAPEAUX

CHRISTOPHE MR.GILAIN

1968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022202320242025202620272028

TPF UTILITIES

Avenue de Haveskercke 46, 1190 Forest

Managing director

Director

Managing director

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Avenue de Haveskercke 46, 1190 ForestCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00436084

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
TPF UTILITIESCurrent	accounts 2006 → 2025	Accounts 2025 · 2026-00436084

Events

2025
Annual accounts 20251,2 M €↑
2024
Annual accounts 2024344,5 k €↓
2023
Annual accounts 20232 M €↑
2022
Annual accounts 202262,6 k €↓
2021
Annual accounts 2021118,8 k €↓
2020
Annual accounts 2020508,9 k €↑
2019
Annual accounts 2019272,7 k €↑
2018
Annual accounts 2018-471,4 k €↓
2017
Annual accounts 201748,3 k €↓
2015
Annual accounts 2015628 k €↑
2014
Annual accounts 2014214,5 k €↑
2009
Annual accounts 2009195,3 k €↑
2008
Annual accounts 2008146 k €↓
2007
Annual accounts 2007183,4 k €↓
2006
Annual accounts 2006615,4 k €
04/07/1968
IncorporationPublic limited company

TPF UTILITIES

Overview

Identity

Financials

Valuation

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline

Timeline

Registered offices

Company names

Events