ACTIVE

T.P.F.

Export PDF

Financial year 2025 · Closed on 31/12/2025

Net result4,1 M €+71,7 %over 1 year

Revenue9,1 M €+2,6 %over 1 year

Equity62,7 M €+0,1 %over 1 year

Workforce12,6 ETP+12,5 %over 1 year

Identity

Source · BCE/KBO

T.P.F. is a Public limited company incorporated in 1988. Its main activity is: Activities of holding companies. Its registered office is in Forest. It employs on average 12,6 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0435.170.803
Incorporation: 31/08/1988
Legal form: Public limited company
Registered office: Avenue de Haveskercke 46
1190 Forest · BruxellesSee on map
Contributed capital: 24 947 655,88 €
Latest accounts: 31/12/2025
Average workforce: 12,6 ETP

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 70200Management consultancy activities 70220Business and other management consultancy activities 74142Specialised design activities 74151Specialised design activities

Joint committees (3)

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 39 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	9,1 M €	+2.6%	8,9 M €	-33.4%	13,3 M €	+1.5%	13,1 M €	+15.8%	11,3 M €
EBITDA	1,2 M €	-6.0%	1,3 M €	+126%	585,9 k €	-45.3%	1,1 M €	+210%	345,4 k €
Operating result	1,2 M €	-5.7%	1,3 M €	+586%	188,4 k €	-81.6%	1 M €	+248%	-691,3 k €
Net result	4,1 M €	+71.7%	2,4 M €	-36.1%	3,7 M €	-6.9%	4 M €	+263%	-2,5 M €
Balance sheet
Equity	62,7 M €	+0.1%	62,6 M €	+4.0%	60,2 M €	+7.1%	56,3 M €	+20.0%	46,9 M €
Total assets	148,5 M €	+8.1%	137,4 M €	-5.1%	144,8 M €	+4.7%	138,3 M €	+3.0%	134,2 M €
Cash	992,9 k €	+158%	384,3 k €	-67.3%	1,2 M €	+557%	179,1 k €	-35.0%	275,5 k €
Debts	84,6 M €	+15.6%	73,2 M €	-11.7%	82,9 M €	+2.5%	80,9 M €	-5.0%	85,2 M €
Other
Workforce	12,6 ETP	+12.5%	11,2 ETP	+13.1%	9,9 ETP	+5.3%	9,4 ETP	-13.0%	10,8 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

9 active · 2 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Delphine Spitaels	Directorsince 01/01/2026
Edouard Gilain	Directorsince 01/01/2026
Isabelle Stoffels	Directorsince 01/01/2026
José Santos	Managing directorsince 12/11/2024
Luc Bertrand	Directorsince 12/11/2024
Aurore Mme Spitaels	Directorsince 09/11/2022
CHRISTOPHE MR.GILAIN	DirectorMandateended
RIK MR VANDENBERGHE	Director
THOMAS MR.SPITAELS	DirectorMandateended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
JORGE MR. NANDIN DE CARVALHO	Directoruntil 12/12/2024
RIK MR.VANDENBERGHE	Director

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
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
TPF UTILITIES● Active	0406.406.442

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Consolidated accounts
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	28/07/2026	24/07/2025	22/07/2024	28/08/2023	01/07/2022	30/09/2021
General meeting	16/07/2026	22/07/2025	03/07/2024	18/08/2023	30/06/2022	29/09/2021
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

Looking for more information about this company?

Try for free

Annual accounts filings

Source · NBB, 39 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	16/07/2026	28/07/2026	French	PDF
Full model	31/12/2024	22/07/2025	24/07/2025	French	PDF
Consolidated accounts	31/12/2024	22/07/2025	25/07/2025	French	PDF
Full model	31/12/2023	03/07/2024	22/07/2024	French	PDF
Consolidated accounts	31/12/2023	03/07/2024	05/08/2024	French	PDF
Full model	31/12/2022	18/08/2023	28/08/2023	French	PDF
Consolidated accounts	31/12/2022	15/09/2023	21/09/2023	French	PDF
Full model	31/12/2021	30/06/2022	01/07/2022	French	PDF
Consolidated accounts	31/12/2021	08/08/2022	09/08/2022	French	PDF
Full model	31/12/2020	30/06/2021	01/07/2021	French	PDF
Consolidated accounts	31/12/2020	29/09/2021	30/09/2021	French	PDF
Full model	31/12/2019	29/06/2020	03/08/2020	French	PDF
Consolidated accounts	31/12/2019	29/06/2020	03/08/2020	French	PDF
Full model	31/12/2018	03/06/2019	27/06/2019	French	PDF
Consolidated accounts	31/12/2018	03/06/2019	27/06/2019	French	PDF
Full model	31/12/2017	29/06/2018	12/07/2018	French	PDF
Consolidated accounts	31/12/2017	29/06/2018	12/07/2018	French	PDF
Full model	31/12/2016	30/06/2017	06/07/2017	French	PDF
Consolidated accounts	31/12/2016	30/06/2017	06/07/2017	French	PDF
Full model	31/12/2015	30/06/2016	19/07/2016	French	PDF
Consolidated accounts	31/12/2015	30/06/2016	19/07/2016	French	PDF
Full model	31/12/2014	30/06/2015	08/07/2015	French	PDF
Consolidated accounts	31/12/2014	30/06/2015	08/07/2015	French	PDF
Full model	31/12/2013	30/06/2014	24/07/2014	French	PDF
Consolidated accounts	31/12/2013	30/06/2014	28/07/2014	French	PDF
Full model	31/12/2012	28/06/2013	28/06/2013	French	PDF
Consolidated accounts	31/12/2012	28/06/2013	01/07/2013	French	PDF
Full model	31/12/2011	15/06/2012	20/06/2012	French	PDF
Consolidated accounts	31/12/2011	15/06/2012	22/06/2012	French	PDF
Full model	31/12/2010	08/06/2011	20/06/2011	French	PDF
Consolidated accounts	31/12/2010	08/06/2011	23/06/2011	French	PDF
Full model	31/12/2009	09/06/2010	23/06/2010	French	PDF
Consolidated accounts	31/12/2009	09/06/2010	23/06/2010	French	PDF
Full model	31/12/2008	23/06/2009	29/06/2009	French	PDF
Consolidated accounts	31/12/2008	23/06/2009	29/06/2009	French	PDF
Full model	31/12/2007	10/06/2008	24/06/2008	French	PDF
Consolidated accounts	31/12/2007	10/06/2008	01/07/2008	French	PDF
Full model	31/12/2006	15/06/2007	10/07/2007	French	PDF
Consolidated accounts	31/12/2006	15/06/2007	11/07/2007	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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

9 active · 2 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Delphine Spitaels	Directorsince 01/01/2026
Edouard Gilain	Directorsince 01/01/2026
Isabelle Stoffels	Directorsince 01/01/2026
José Santos	Managing directorsince 12/11/2024
Luc Bertrand	Directorsince 12/11/2024
Aurore Mme Spitaels	Directorsince 09/11/2022
CHRISTOPHE MR.GILAIN	DirectorMandateended
RIK MR VANDENBERGHE	Director
THOMAS MR.SPITAELS	DirectorMandateended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
JORGE MR. NANDIN DE CARVALHO	Directoruntil 12/12/2024
RIK MR.VANDENBERGHE	Director

Ownership and network

Looking for more information about this company?

Try for free

Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates09/02/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates18/12/2025
DEMISSIONS, NOMINATIONS
PDF
Capital / shares26/05/2025
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS
PDF
Mandates29/04/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates19/11/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS
PDF
Mandates18/01/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates12/10/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates28/07/2023
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

Filings20 filings

Mandates

Delphine Spitaels

Edouard Gilain

Isabelle Stoffels

José Santos

Luc Bertrand

Aurore Mme Spitaels

JORGE MR. NANDIN DE CARVALHO

198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026

TPF SAT.P.F.

Avenue de Haveskercke 46, 1190 Forest

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 · 2026-00351404

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
T.P.F.Current		CBE
TPF SA	accounts 2021 → 2025	Accounts 2025 · 2026-00351404
T.P.F.	accounts 2006 → 2020	Accounts 2020 · 2021-29500416

Events

01/01/2026
nominationIsabelle Stoffels de Saint-Georges · administrateur
01/01/2026
nominationDelphine Spitaels · administrateur
01/01/2026
nominationEduard Gilain · administrateur
2025
Annual accounts 20254,1 M €↑
22/07/2025
reconductionMathieu Noel · commissaire
21/05/2025
autre
2024
Annual accounts 20242,4 M €↓
12/11/2024
reconductionThomas Spitaels · administrateur et président du conseil d’administration
12/11/2024
nominationJosé Manuel CASTRO FERNANDES dos SANTOS · administrateur
12/11/2024
nominationLuc BERTRAND · administrateur
2023
Annual accounts 20233,7 M €↓
01/09/2023
nominationJosé SANTOS · mandataire spécial (Chief Operational Officer)
01/09/2023
nominationJulie BELMANS · mandataire spécial (Chief Human Resources Officer)
18/08/2023
reconductionThomas SPITAELS · administrateur
18/08/2023
reconductionChristophe GILAIN · administrateur
06/06/2023
augmentation_capital
2022
Annual accounts 20224 M €↑
09/11/2022
nominationAurore Spitaels · Administrateur
30/06/2022
reconductionRSM INTERAUDIT SRL représentée par Monsieur Mathieu Noel · commissaire
2021
Annual accounts 2021-2,5 M €↓
2021
Name changeTPF SA
2020
Annual accounts 2020-696,9 k €↓
2019
Annual accounts 20196 M €↑
2018
Annual accounts 201847,4 k €↓
2017
Annual accounts 20173,7 M €↓
2016
Annual accounts 20167 M €↑
2015
Annual accounts 20152 M €↓
2014
Annual accounts 20143,8 M €↑
2013
Annual accounts 20132,9 M €↑
2012
Annual accounts 2012-161,8 k €↓
2011
Annual accounts 20111,9 M €↑
2010
Annual accounts 2010-1,3 M €↓
2009
Annual accounts 20092,4 M €↑
2008
Annual accounts 20082 M €↑
2007
Annual accounts 20071,5 M €↑
2006
Annual accounts 20061 M €
31/08/1988
IncorporationPublic limited company

T.P.F.

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