ACTIVE

TEGEC

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Financial year 2025 · closed on 31/12/2025

Net result

2,3 M €

-17.7% YoY

Revenue

40,7 M €

-25.2% YoY

Equity

6,2 M €

+22.9% YoY

Workforce

177,6 ETP

+7.4% YoY

What does TEGEC do?

TEGEC is a Private limited company incorporated in 1998. Its main activity is: Construction of utility projects for fluids. Its registered office is in Ans. It employs on average 177,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0464.301.485

Incorporation

14/10/1998

Legal form

Private limited company

Registered office

Avenue de l'Expansion 11
4432 Ans · WallonieSee on map

Contributed capital

320 000,00 €

Latest accounts

31/12/2025

Average workforce

177,6 ETP

Activities (NACE)

42211Construction of utility projects for fluids· main 42211Construction of utility projects for fluids 49410Freight transport by road 49410Freight transport by road 60242Television programming and broadcasting activities 42211Construction of utility projects for fluids+1

Joint committees (5)

124
140
14003
200
218

Signals

ProfitableLow riskPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	40,7 M €	-25.2%	54,4 M €	+49.6%	36,4 M €	+4.6%	34,8 M €	+46.6%	23,7 M €	-3.0%	24,5 M €	+14.6%	21,3 M €	+29.8%	16,4 M €	+15.2%	14,3 M €	-6.1%	15,2 M €	+24.4%	12,2 M €	+6.6%	11,5 M €	+9.1%	10,5 M €	+15.4%	9,1 M €	+262%	2,5 M €		–		–		–		–		–
EBITDA	4,5 M €	-10.7%	5,1 M €	+42.3%	3,6 M €	+0.7%	3,6 M €	-0.4%	3,6 M €	+78.6%	2 M €	-12.0%	2,3 M €	+42.4%	1,6 M €	+43.6%	1,1 M €	-15.2%	1,3 M €	+52.6%	857,4 k €	+22.9%	697,7 k €	+6.3%	656,3 k €	-11.3%	739,8 k €	+206%	241,5 k €	+115%	112,4 k €	-27.5%	155 k €	-15.1%	182,5 k €	-3.5%	189,1 k €	+42.1%	133,1 k €
Operating result	2,8 M €	-18.4%	3,4 M €	+70.8%	2 M €	-0.0%	2 M €	+12.9%	1,8 M €	+311%	429 k €	-56.1%	977,4 k €	+43.9%	679 k €	+60.4%	423,2 k €	-39.9%	704,5 k €	+165%	266 k €	+159%	102,7 k €	-12.1%	116,9 k €	-37.5%	187,1 k €	+284%	-101,4 k €	-709%	16,6 k €	-51.4%	34,2 k €	-0.9%	34,5 k €	-32.3%	51 k €	+128%	22,4 k €
Net result	2,3 M €	-17.7%	2,8 M €	+50.2%	1,9 M €	+10.5%	1,7 M €	+16.9%	1,5 M €	+408%	288,3 k €	-57.9%	684,6 k €	+44.8%	472,7 k €	+97.2%	239,7 k €	-40.6%	403,4 k €	+1071%	34,4 k €	+459%	-9,6 k €	-158%	16,4 k €	-83.0%	96,4 k €	+171%	-135,5 k €	-74569%	181,9 €	-97.2%	6,4 k €	+1668%	364,7 €	-97.9%	17,7 k €	+4712%	368 €
Balance sheet
Equity	6,2 M €	+22.9%	5 M €	+40.5%	3,6 M €	+21.9%	2,9 M €	+24.7%	2,3 M €	+26.7%	1,8 M €	+10.3%	1,7 M €	+27.8%	1,3 M €	+26.3%	1 M €	+15.5%	899,1 k €	+50.9%	595,7 k €	+6.1%	561,3 k €	-1.7%	570,9 k €	+3.0%	554,5 k €	+21.0%	458,1 k €	+805%	50,6 k €	+0.4%	50,4 k €	+14.7%	44 k €	+0.8%	43,6 k €	+68.4%	25,9 k €
Total assets	20,5 M €	+9.2%	18,8 M €	+14.3%	16,4 M €	+9.7%	15 M €	+23.1%	12,2 M €	+4.2%	11,7 M €	-18.9%	14,4 M €	+24.1%	11,6 M €	+25.4%	9,3 M €	+16.5%	8 M €	-26.3%	10,8 M €	+58.0%	6,8 M €	-4.8%	7,2 M €	+11.3%	6,4 M €	+39.0%	4,6 M €	+1795%	244,8 k €	-44.1%	437,9 k €	-26.3%	594,1 k €	-15.6%	703,8 k €	+29.7%	542,8 k €
Cash	218,7 k €	-61.2%	563,6 k €	+29.0%	436,9 k €	-36.4%	687,5 k €	-35.7%	1,1 M €	-26.9%	1,5 M €	+364%	314,7 k €	+47.2%	213,8 k €	-43.5%	378,3 k €	-49.8%	752,9 k €	-24.3%	994,7 k €	+275%	265,4 k €	-1.3%	268,8 k €	-19.6%	334,5 k €	+84.4%	181,4 k €	+1437%	11,8 k €	+157%	4,6 k €	+0.7%	4,6 k €	+55.9%	2,9 k €	-63.6%	8 k €
Debts	14,3 M €	+4.9%	13,6 M €	+6.3%	12,8 M €	+6.9%	12 M €	+22.8%	9,8 M €	-0.1%	9,8 M €	-22.8%	12,7 M €	+23.1%	10,3 M €	+25.0%	8,2 M €	+16.7%	7 M €	-30.7%	10,2 M €	+62.8%	6,2 M €	-4.8%	6,6 M €	+11.7%	5,9 M €	+40.7%	4,2 M €	+2052%	194,2 k €	-49.8%	387,2 k €	-29.6%	550 k €	-16.7%	660,1 k €	+27.7%	516,8 k €
Other
Workforce	177,6 ETP	+7.4%	165,4 ETP	+9.2%	151,4 ETP	+11.9%	135,3 ETP	+3.4%	130,8 ETP	+5.3%	124,2 ETP	-2.4%	127,3 ETP	+24.6%	102,2 ETP	+12.4%	90,9 ETP	+13.2%	80,3 ETP	+9.8%	73,1 ETP	-0.1%	73,2 ETP	+0.5%	72,8 ETP	+12.9%	64,5 ETP	+115%	30,0 ETP	+426%	5,7 ETP	-8.1%	6,2 ETP	-10.1%	6,9 ETP	-5.5%	7,3 ETP	-11.0%	8,2 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 12 ended

Active mandates

INTO THE WILD

Director · since 01 avril 2025 · 0755.644.648

Represented by Gaëlle LECOQ

Active

LACGEST

Manager · since 01 juillet 2011 · 0837.744.953

Represented by Antoine LACROIX

Active

GEHLEN MANAGEMENT

Manager · since 25 mai 2011 · 0899.433.290

Represented by Roger GEHLEN

Active

Ended mandates

LACGEST

Manager · since 01 juillet 2011 · 0837.744.953

Represented by Antoine LACROIX

Ended

LACGEST

Manager · since 01 juillet 2011 · 0837.744.953

Represented by Antoine LACROIX

Ended

GEHLEN MANAGEMENT

Manager · since 25 mai 2011 · 0899.433.290

Represented by Roger GEHLEN

Ended

GEHLEN MANAGEMENT

Manager · since 25 mai 2011 · 0899.433.290

Represented by Roger GEHLEN

Ended

At this address

Other companies at this address

Company	CBE no.
A.M. TEGEC - NELLES● Active	0731.585.975
AM TEGEC-SODRAEP-HYDROGAZ● Active	0684.566.414
AM TEGEC-SODRAEP-TRAGECO● Active	0763.904.395
AM TEGEC - TRAGECOBAT● Active	0691.975.135
ASS. MOM. TEGEC- FODETRA● Active	0553.927.606
DUOFLUX● Active	0697.625.582
SM ACTL● Active	1021.719.905
SM TEGEC - ARGEA● Active	1006.920.277
SM TEGEC-BODARWE-SERBI● Active	0789.615.434
SM TEGEC - DENYS● Active	0777.481.823
SM TEGEC-DENYS/BIERSET● Active	0792.446.745
SM TEGEC - ENERSOL● Active	1018.334.506
SM TEGEC - GEHLEN - HUN● Active	1041.292.624
SM TEGEC-GEHLEN-TRAGECO - Fenderie● Active	1015.689.275
SM TEGEC - GEHLEN - TRAGECO - PEPINSTER● Active	1039.175.648
SM TEGEC - GEHLEN - TRAGECO - THEUX● Active	1039.169.314
SM TEGEC-NONET - Raccordements Namur-Hesbaye● Active	0799.296.034
SM TEGEC-RMS● Active	0789.998.385
SM TEGEC-SOCOGETRA - CHERATTE● Active	1032.725.544
Société Momentanée TEGEC-GEHLEN-TRAGECO● Active	0803.376.962

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	16/06/2026	19/06/2025	28/05/2024	20/06/2023	16/05/2022	29/06/2021
General meeting	21/05/2026	06/06/2025	11/05/2024	13/05/2023	14/05/2022	25/06/2021
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

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	21/05/2026	16/06/2026	French	PDF
Full model	31/12/2024	06/06/2025	19/06/2025	French	PDF
Full model	31/12/2023	11/05/2024	28/05/2024	French	PDF
Full model	31/12/2022	13/05/2023	20/06/2023	French	PDF
Full model	31/12/2021	14/05/2022	16/05/2022	French	PDF
Full model	31/12/2020	25/06/2021	29/06/2021	French	PDF
Full model	31/12/2019	23/06/2020	01/07/2020	French	PDF
Full model	31/12/2018	13/05/2019	11/06/2019	French	PDF
Full model	31/12/2017	12/05/2018	29/05/2018	French	PDF
Full model	31/12/2016	13/05/2017	30/06/2017	French	PDF
Full model	31/12/2015	08/06/2016	16/06/2016	French	PDF
Full model	31/12/2014	22/05/2015	03/06/2015	French	PDF
Full model	31/12/2013	30/05/2014	16/06/2014	French	PDF
Abridged model	31/12/2012	01/06/2013	11/07/2013	French	PDF
Abridged model	31/12/2011	19/05/2012	29/06/2012	French	PDF
Abridged model	31/12/2010	25/05/2011	27/05/2011	French	PDF
Abridged model	31/12/2009	08/05/2010	13/08/2010	French	PDF
Abridged model	31/12/2008	09/05/2009	18/08/2009	French	PDF
Abridged model	31/12/2007	10/05/2008	29/08/2008	French	PDF
Abridged model	31/12/2006	12/05/2007	22/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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 · 3 active · 12 ended

Active mandates

INTO THE WILD

Director · since 01 avril 2025 · 0755.644.648

Represented by Gaëlle LECOQ

Active

LACGEST

Manager · since 01 juillet 2011 · 0837.744.953

Represented by Antoine LACROIX

Active

GEHLEN MANAGEMENT

Manager · since 25 mai 2011 · 0899.433.290

Represented by Roger GEHLEN

Active

Ended mandates

LACGEST

Manager · since 01 juillet 2011 · 0837.744.953

Represented by Antoine LACROIX

Ended

LACGEST

Manager · since 01 juillet 2011 · 0837.744.953

Represented by Antoine LACROIX

Ended

GEHLEN MANAGEMENT

Manager · since 25 mai 2011 · 0899.433.290

Represented by Roger GEHLEN

Ended

GEHLEN MANAGEMENT

Manager · since 25 mai 2011 · 0899.433.290

Represented by Roger GEHLEN

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates22/07/2025
DEMISSIONS, NOMINATIONS - MODIFICATION FORME JURIDIQUE
PDF
Mandates04/04/2025
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS
PDF
Mandates02/06/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates16/10/2019
DEMISSIONS, NOMINATIONS
PDF
Restructuring30/07/2019
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring28/05/2019
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring20/12/2017
CAPITAL, ACTIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring06/09/2017
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
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 20252,3 M €↓
2024
Annual accounts 20242,8 M €↑
2023
Annual accounts 20231,9 M €↑
2022
Annual accounts 20221,7 M €↑
2021
Annual accounts 20211,5 M €↑
2020
Annual accounts 2020288,3 k €↓
2019
Annual accounts 2019684,6 k €↑
2018
Annual accounts 2018472,7 k €↑
2017
Annual accounts 2017239,7 k €↓
2016
Annual accounts 2016403,4 k €↑
2015
Annual accounts 201534,4 k €↑
2014
Annual accounts 2014-9,6 k €↓
2013
Annual accounts 201316,4 k €↓
2012
Annual accounts 201296,4 k €↑
2011
Annual accounts 2011-135,5 k €↓
2011
Name changeTegec SRL
2010
Annual accounts 2010181,9 €↓
2009
Annual accounts 20096,4 k €↑
2008
Annual accounts 2008364,7 €↓
2007
Annual accounts 200717,7 k €↑
2006
Annual accounts 2006368 €
2006
Name changeTRANSPORTS T.L.L.
14/10/1998
IncorporationPrivate 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

TEGEC

Overview

What does TEGEC do?

Trend over 20 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