ACTIVE

T.W.Z.

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Financial year 2025 · Closed on 31/12/2025

Net result8,7 M €+20,5 %over 1 year
Revenue22,3 M €+3,6 %over 1 year
Equity82,4 M €+0,2 %over 1 year
Workforce54,8 ETP+9,8 %over 1 year

Identity

Source · BCE/KBO

T.W.Z. is a Public limited company incorporated in 1990. Its main activity is: Sewerage. Its registered office is in Evergem. It employs on average 54,8 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0441.198.659
Incorporation
05/07/1990
Legal form
Public limited company
Registered office
Durmakker 4
9940 Evergem · FlandreSee on map
Contributed capital
81 131 793,06 €
Latest accounts
31/12/2025
Average workforce
54,8 ETP
Joint committees (2)
  • 116
  • 207
Signals
ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 20 filings

Trend over 20 financial years

20252024202320222021
Income statement
Revenue22,3 M €21,6 M €22,9 M €18 M €17,5 M €
EBITDA6 M €6,2 M €7,1 M €4,1 M €4,4 M €
Operating result4,7 M €4,8 M €5,8 M €2,8 M €3,1 M €
Net result8,7 M €7,2 M €7 M €4,2 M €4,3 M €
Balance sheet
Equity82,4 M €82,3 M €7,4 M €7,4 M €8,2 M €
Total assets108,6 M €102,6 M €22,3 M €19,6 M €21,9 M €
Cash3,4 M €2,3 M €6,1 M €1,1 M €1,3 M €
Debts22,7 M €16,9 M €11,5 M €9,2 M €10,3 M €
Other
Workforce54,8 ETP49,9 ETP51,7 ETP51,2 ETP47,7 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

5 active · 50 ended

Active mandates

BETRAMIN

Director · since 06 juin 2020 · until 06 juin 2026 · 0427.475.040

Represented by Heliane De Vlieghere - Haus

Active
DEMISAN

Managing director · since 06 juin 2020 · until 06 juin 2026 · 0884.531.815

Represented by Ivo De Vlieghere

Active
Hydropale BO

Director · since 06 juin 2020 · until 06 juin 2026

Represented by Pascal Muller

Active
Sarp Industries BO

Chairman of the board of directors · since 06 juin 2020 · until 06 juin 2026

Represented by Jérôme Eloy

Active
Sotrenor BO

Director · since 06 juin 2020 · until 06 juin 2026

Represented by Cédric L'elchat

Active

Ended mandates

DEMISAN

Managing director · since 07 octobre 2024 · until 07 octobre 2028 · 0884.531.815

Represented by Ivo De Vlieghere

Ended
Sarp Industries BO

Voor de OFP, de uitvoering van het algemeen beleid van het organisme · since 15 avril 2021 · until 06 août 2023

Represented by Jérôme Eloy

Ended
DEMISAN

Managing director · since 30 octobre 2020 · until 06 août 2025 · 0884.531.815

Represented by Ivo De Vlieghere

Ended
DEMISAN

Managing director · since 30 octobre 2020 · until 06 août 2025 · 0884.531.815

Represented by Ivo De Vlieghere

Ended

Full financial information

Source · NBB
202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date29/06/202602/07/202509/04/202410/05/202313/06/202207/06/2021
General meeting23/06/202623/06/202525/03/202402/05/202303/06/202218/05/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202523/06/202629/06/2026DutchPDF
Full model31/12/202423/06/202502/07/2025DutchPDF
Full model31/12/202325/03/202409/04/2024DutchPDF
Full model31/12/202202/05/202310/05/2023DutchPDF
Full model31/12/202103/06/202213/06/2022DutchPDF
Full model31/12/202018/05/202107/06/2021DutchPDF
Full model31/12/201925/05/202027/05/2020DutchPDF
Full model31/12/201809/05/201915/05/2019DutchPDF
Full model31/12/201714/05/201831/05/2018DutchPDF
Full model31/12/201602/06/201706/06/2017DutchPDF
Full model31/12/201506/05/201609/06/2016DutchPDF
Full model31/12/201408/05/201518/06/2015DutchPDF
Full model31/12/201306/06/201411/06/2014DutchPDF
Full model31/12/201210/05/201307/06/2013DutchPDF
Full model31/12/201127/04/201211/05/2012DutchPDF
Full model31/12/201016/05/201115/06/2011DutchPDF
Full model31/12/200920/04/201014/06/2010DutchPDF
Full model31/12/200825/06/200930/06/2009DutchPDF
Full model31/12/200706/06/200826/06/2008DutchPDF
Full model31/12/200625/06/200727/06/2007DutchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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

5 active · 50 ended

Active mandates

BETRAMIN

Director · since 06 juin 2020 · until 06 juin 2026 · 0427.475.040

Represented by Heliane De Vlieghere - Haus

Active
DEMISAN

Managing director · since 06 juin 2020 · until 06 juin 2026 · 0884.531.815

Represented by Ivo De Vlieghere

Active
Hydropale BO

Director · since 06 juin 2020 · until 06 juin 2026

Represented by Pascal Muller

Active
Sarp Industries BO

Chairman of the board of directors · since 06 juin 2020 · until 06 juin 2026

Represented by Jérôme Eloy

Active
Sotrenor BO

Director · since 06 juin 2020 · until 06 juin 2026

Represented by Cédric L'elchat

Active

Ended mandates

DEMISAN

Managing director · since 07 octobre 2024 · until 07 octobre 2028 · 0884.531.815

Represented by Ivo De Vlieghere

Ended
Sarp Industries BO

Voor de OFP, de uitvoering van het algemeen beleid van het organisme · since 15 avril 2021 · until 06 août 2023

Represented by Jérôme Eloy

Ended
DEMISAN

Managing director · since 30 octobre 2020 · until 06 août 2025 · 0884.531.815

Represented by Ivo De Vlieghere

Ended
DEMISAN

Managing director · since 30 octobre 2020 · until 06 août 2025 · 0884.531.815

Represented by Ivo De Vlieghere

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates02/09/2026
    herbenoeming bestuurders & wijziging vaste vertegenwoordiger
    PDF
  • Mandates22/08/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates24/01/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Capital / shares13/06/2024
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - KAPITAAL - AANDELEN
    PDF
  • Mandates27/05/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other16/01/2024
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Mandates16/05/2023
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates26/07/2021
    ONTSLAGEN - BENOEMINGEN
    PDF

Similar companies

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

See the Business plan

Timeline

  1. 2025
    Annual accounts 20258,7 M €↑
  2. 22/05/2025
    nominationCatherine Ricou — vaste vertegenwoordiger
  3. 2024
    Annual accounts 20247,2 M €↑
  4. 07/10/2024
    reconductionDemisan BV — Afgevaardigd Bestuurder
  5. 31/05/2024
    augmentation_capital
  6. 25/03/2024
    nominationBV Figurad Bedrijfsrevisoren — commissaris
  7. 08/03/2024
    nominationSaskia Vandenheede — persoon belast met dagdagelijks bestuur van de Vennootschap
  8. 2023
    Annual accounts 20237 M €↑
  9. 28/03/2023
    reconductionJérôme Eloy — Voorzitter van de Raad van Bestuur
  10. 2022
    Annual accounts 20224,2 M €↓
  11. 2021
    Annual accounts 20214,3 M €↑
  12. 2020
    Annual accounts 20204 M €↑
  13. 2019
    Annual accounts 20193,1 M €↑
  14. 2018
    Annual accounts 20183,1 M €↑
  15. 2017
    Annual accounts 20172,5 M €↑
  16. 2016
    Annual accounts 20161,8 M €↓
  17. 2015
    Annual accounts 20152,1 M €↓
  18. 2014
    Annual accounts 20142,3 M €↑
  19. 2013
    Annual accounts 20131,1 M €↓
  20. 2012
    Annual accounts 20121,1 M €↑
  21. 2011
    Annual accounts 20111,1 M €↑
  22. 2010
    Annual accounts 2010284,8 k €↓
  23. 2009
    Annual accounts 2009287,4 k €↑
  24. 2008
    Annual accounts 2008191,1 k €↓
  25. 2007
    Annual accounts 2007555,7 k €↑
  26. 2006
    Annual accounts 2006515,5 k €
  27. 05/07/1990
    IncorporationPublic limited company