ACTIVE

TPF UTILITIES

Export PDF

Financial year 2025 · closed on 31/12/2025

Net result

1,2 M €

+234.0% YoY

Revenue

32,3 M €

+6.9% YoY

Equity

8,2 M €

+16.3% YoY

Workforce

118,6 ETP

-1.7% YoY

What does TPF UTILITIES do?

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

View the BCE/KBO Public Search record →

Health score

Available with a Rovalta subscriptionTry for 7 days

Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2015		2014		2009		2008		2007		2006
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 €	+26.1%	17,8 M €	+27.3%	14 M €	+43.5%	9,7 M €	-3.1%	10,1 M €	-21.5%	12,8 M €	-5.2%	13,5 M €	+36.4%	9,9 M €	-21.7%	12,7 M €	-4.8%	13,3 M €	-9.7%	14,7 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 €	-21.2%	1,1 M €	+144%	462,4 k €	+1078%	-47,3 k €	+83.7%	-289,6 k €	-134%	850,2 k €	+204%	279,9 k €	-60.5%	708,4 k €	-6.4%	756,7 k €	+18.6%	638 k €	+9.2%	584,2 k €
Operating result	1,8 M €	+105%	900,2 k €	+16.4%	773,1 k €	+104%	378,1 k €	+10.2%	343,1 k €	-54.5%	753,7 k €	+134%	322,5 k €	+793%	-46,6 k €	-129%	161,3 k €	-77.6%	721,3 k €	+107%	348,5 k €	-13.3%	402 k €	+19.1%	337,6 k €	+0.3%	336,6 k €	+10.8%	303,7 k €
Net result	1,2 M €	+234%	344,5 k €	-83.2%	2 M €	+3169%	62,6 k €	-47.3%	118,8 k €	-76.7%	508,9 k €	+86.6%	272,7 k €	+158%	-471,4 k €	-1076%	48,3 k €	-92.3%	628 k €	+193%	214,5 k €	+9.8%	195,3 k €	+33.7%	146 k €	-20.4%	183,4 k €	-70.2%	615,4 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 €	+2.7%	4,5 M €	+2.5%	4,4 M €	+6.7%	4,1 M €	-10.3%	4,6 M €	+5.5%	4,3 M €	+17.0%	3,7 M €	+1.6%	3,6 M €	+0.3%	3,6 M €	+0.2%	3,6 M €	+0.3%	3,6 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 €	+11.6%	13,4 M €	+1.8%	13,2 M €	+3.7%	12,7 M €	-14.0%	14,8 M €	-6.8%	15,9 M €	-12.8%	18,2 M €	+20.4%	15,1 M €	-6.8%	16,2 M €	+10.7%	14,7 M €	-2.1%	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 €	+172%	599,3 k €	+674%	77,4 k €	-47.9%	148,6 k €	-62.7%	398,9 k €	+80.0%	221,7 k €	+218%	69,7 k €	-5.6%	73,8 k €	-74.8%	293,2 k €	+451%	53,3 k €	-31.2%	77,4 k €
Debts	8,8 M €	-5.1%	9,3 M €	-30.3%	13,3 M €	+27.1%	10,5 M €	+5.9%	9,9 M €	+10.9%	8,9 M €	+6.4%	8,4 M €	+2.7%	8,2 M €	-8.9%	8,9 M €	-0.9%	9 M €	-21.4%	11,5 M €	+9.6%	10,5 M €	-10.4%	11,7 M €	+12.2%	10,4 M €	-6.0%	11,1 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	+10.5%	82,8 ETP	+20.0%	69,0 ETP	+14.8%	60,1 ETP	-5.5%	63,6 ETP	-6.2%	67,8 ETP	+18.7%	57,1 ETP	+31.3%	43,5 ETP	-23.0%	56,5 ETP	+5.2%	53,7 ETP	-4.1%	56,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 34 ended

Active mandates

STRATOS CONSULT

Managing director · since 08 juin 2022 · until 25 avril 2028 · 0441.816.786

Represented by CHRISTOPHE GILAIN

Active

THOMAS MR.SPITAELS

Director · since 08 juin 2022 · until 25 avril 2028

Active

Ended mandates

MICHEL MR.LACROIX

Director · since 26 avril 2016 · until 26 avril 2022

Ended

MICHEL MR.LACROIX

Director · since 26 avril 2016

Ended

MICHEL MR.LEPOUTRE

Director · since 26 avril 2016 · until 26 avril 2022

Ended

MICHEL MR.LEPOUTRE

Director · since 26 avril 2016

Ended

At this address

Other companies at this address

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

Annual accounts

Full financial information

	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

Ratios

Financial ratios

Looking for more information about this company?

Try for 7 days

Filings

Annual accounts filings

20 filings with the NBB

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

Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 34 ended

Active mandates

STRATOS CONSULT

Managing director · since 08 juin 2022 · until 25 avril 2028 · 0441.816.786

Represented by CHRISTOPHE GILAIN

Active

THOMAS MR.SPITAELS

Director · since 08 juin 2022 · until 25 avril 2028

Active

Ended mandates

MICHEL MR.LACROIX

Director · since 26 avril 2016 · until 26 avril 2022

Ended

MICHEL MR.LACROIX

Director · since 26 avril 2016

Ended

MICHEL MR.LEPOUTRE

Director · since 26 avril 2016 · until 26 avril 2022

Ended

MICHEL MR.LEPOUTRE

Director · since 26 avril 2016

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

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
Other20/09/2017
DIVERS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

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

See the Business plan

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

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

TPF UTILITIES

Overview

What does TPF UTILITIES do?

Trend over 15 financial years

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