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TIBI

Active
Coöperatieve vennootschap van publiek rechtfounded 1948active for 77 yearsRue du Déversoir 1, 6010 Charleroi, BelgiumKBO/BCE: BE 0201.543.234
Summary

The computed 12-month bankruptcy probability of TIBI is 2.5% (moderate). The annual accounts of TIBI for financial year 2025 show a net loss of 188% of the equity at the start of that year. The 2025 annual accounts show equity of €26.8m and a net result of -€54.8m. Equity is growing by about 5.7% per year across the filed financial years. The company has been active since 1948 and the Belgian Official Gazette contains no insolvency or warning signals.

Overview

Activity
Waste collection, recovery and disposal activities
NACE 38330Waste collection, recovery and disposal activities NACE 38110
Largest employer in Hainaut, Water and waste sector16 sites
Size
€25.4mturnover 2025
Staff
684.9 FTE
Equity
€26.8m
Loss
-€54.8m
Standalone figures, without subsidiaries
Financial health
51 Fair Checked score 2025
Bankruptcy probabilitywithin 12 months
2.5%
Structure
Board
11 members
Holdings
5
Auditor: Joiris Rousseaux, Réviseurs d'entreprises associésAccounts 30 days early61 of 79 deeds read
Why 51raises riskLoss of €54.8m, the second in a row (financial year 2025)Equity €26.8m (17.8% of total assets)Sector: Waste collection, recovery and disposal activities (NACE 38)Liquidity: current ratio 2.58, cash €2.4mShow the evidence

Checked score

Score 2025
51 / 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 34% of its sector peers (all companies)
Financial strength · tick = 2024
Weak
Solvency 43-2
equity 17.8% of total assets
Liquidity 47-3
short-term debt 17.2% · cash 1.6%
Profitability 0=
return on assets -36.3%
Bankruptcy probability, 12 months
2.5% Moderate
0%0.5%1.5%4%10%≥ 25%

About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (11 companies, NACE 38, large)
Last 24 months 11-2024: 2.2% 12-2024: 2.2%● unchanged vs 11-2024 01-2025: 2.2%● unchanged vs 12-2024 02-2025: 2.1%▼ -0.1 percentage points vs 01-2025 03-2025: 2.2%▲ +0.1 percentage points vs 02-2025 04-2025: 2.2%● unchanged vs 03-2025 05-2025: 2.2%● unchanged vs 04-2025 06-2025: 2.2%● unchanged vs 05-2025 07-2025: 2.4%▲ +0.2 percentage points vs 06-2025 08-2025: 2.1%▼ -0.3 percentage points vs 07-2025 09-2025: 2.1%● unchanged vs 08-2025 10-2025: 2.1%● unchanged vs 09-2025 11-2025: 2.1%● unchanged vs 10-2025 12-2025: 2.1%● unchanged vs 11-2025 01-2026: 2.1%● unchanged vs 12-2025 02-2026: 2.1%● unchanged vs 01-2026lowest value 03-2026: 2.1%● unchanged vs 02-2026 04-2026: 2.1%● unchanged vs 03-2026 05-2026: 2.1%● unchanged vs 04-2026 06-2026: 2.2%▲ +0.1 percentage points vs 05-2026 07-2026: 2.1%▼ -0.1 percentage points vs 06-2026 08-2026: 2.5%▲ +0.4 percentage points vs 07-2026highest value 09-2026: 2.5%● unchanged vs 08-2026highest value 10-2026: 2.5%● unchanged vs 09-2026highest value
Credit of up to €1,350,000 on 30-day terms, only on tighter conditions
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 2.58, compared with 3.18 in 2024, above the usual 1.5; short-term debt: 17.2% and cash: 1.6% of total assets), but 82.2% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (all companies): better than 29% on solvency, 56% on liquidity, 4% on profitability and 48% on growth.

The bankruptcy probability was computed on 13-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.
raises riskneutral
raises risk · Loss of €54.8m, the second in a row (financial year 2025)
NBB · annual accounts
raises risk · Equity €26.8m (17.8% of total assets)
NBB · annual accounts
raises risk · Sector: Waste collection, recovery and disposal activities (NACE 38)
KBO
raises risk · Liquidity: current ratio 2.58, cash €2.4m
NBB · annual accounts
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-07-2026, 30 days ahead of the deadline.
NBB · 7 filings
Deviation from the deadline
2025
30 days early
2024
28 days early
2023
22 days early
2022
3 days early
2021
11 days early
2020
26 days early
2019
8 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 18 days before the deadline; the sector median (NACE 38) for financial year 2024 is 8 days before the deadline, and 32% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 10 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
14-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Resignation: Nicolas Tzanetatos (director)Appointment: Denis Ducarme (director)
  2. Annual accounts filedfinancial year 2025 · consolidated
  3. Annual accounts filedfinancial year 2025 · unclassified…

Key points

  • Risk: 8 loss-making years in a rowloss financial year 2025 -€54.8m View
  • Positive: Largest employer in Hainaut, Water and waste sectorin the Checked rankings No. 1 View
  • Active since 1948founded 26-10-1948 77 years View
  • Positive: Always filed on timeaccounts within the deadline every year 7 years View
  • Board changedlatest change 31-07-2026 · 11 in office 1 joined · 1 left View

By topic

Financials

Financial year
2025
Turnover
€25.4m
Loss
-€54.8m
Solvency
17.8%
Turnover▲ 9.6%
Net result
20182025
Go to Financials

Board & ownership

Board
11 members
Auditor
Joiris Rousseaux, Réviseurs d'entreprises…
  • SAHLI MouradDirector
  • Caroline Ligot-MarievoetDirector
  • Amandine SAUTIERDirector
  • Cathy MONTDirector
  • Françoise DaspremontDirector

and 6 other directors

Go to Board & ownership

Network & group

Subsidiaries
1
Holdings
5
Connected companies
46
Mergers and asset contributions
5

5 holdings

Go to Network & group

Timeline

Events
114
Since
1979
Next accounts
by 31-07-2027
  1. 05-05-2026Resignation: Nicolas Tzanetatos (director)
  2. 31-12-2025Weakest financial year
  3. 20-08-2025Appointment: Laurence Durieux (chair of the board)
Go to Timeline

Company details

Sites
16
Legal form
Coöperatieve vennootschap van publiek recht
Activity
Waste collection, recovery and disposal activitiesNACE 38330
Founded
26-10-1948
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Articles of association

Provisions read
4
Purpose
“L’Association a pour objet : A. de réaliser toutes études, travaux, implantations et…” (deed in French)
Go to Articles of association

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