Result
€253,852 ▼ 63.4%
The result fell in 2025 from €694,319 to €253,852.
T.P.F. - ENGINEERING
Lifetime
19 annual accounts with figures on one time axis, 48 filings since 1977Turnoverpeak €13.0m (2024)
€11.7m▼ 9.9%
Resultlowest -€960,317 (2008)
€253,852▼ 63.4%
Equitypeak €2.6m (2022)
€2.6m▲ 11.0%
Debts
€3.4m▼ 24.9%
Staffpeak 68.4 FTE (2015)
33.5 FTE▼ 0.9%
Board7 names since 2018
3 directorsALBATER and 2 others
Owners5 names in the annual accounts
99.85%T.P.F. and 3 others
Documentsfilings and deeds
18-06-202643 days before the deadline
2025financial year
Result from €694,319 to €253,852Debts from €4.5m to €3.4mCash from €1.6m to €637,489
Key points
from the 2025 annual accountsStaff
33.5 FTE from 68.4 in 2015
Between 2015 and 2025, 51% of the full-time equivalents disappeared.
Payment terms
25 days to suppliers
T.P.F. - ENGINEERING pays its suppliers 38 days earlier than in 2024. Customers pay 5 days later.
Liquidity
5.60 was 3.57 in 2024
Short-term debts fell from €1.9m to €1.1m.
Filings
48 annual accounts since 1977
Two of the last ten came late. The 2023 accounts came latest: 57 days after the end of the period.
At the same address
20 companies
Checked score
94
Excellent
Financially stronger than 50% of small companies in architecture and engineering (NACE 71)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 690 companies (NACE 71, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.8%highest value
01-2025: 0.8%● unchanged vs 12-2024highest value
02-2025: 0.8%● unchanged vs 01-2025
03-2025: 0.8%● unchanged vs 02-2025
04-2025: 0.8%● unchanged vs 03-2025
05-2025: 0.8%● unchanged vs 04-2025
06-2025: 0.8%● unchanged vs 05-2025
07-2025: < 0.1%▼ -0.8 percentage points vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026lowest value
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: 0.1%▲ +0.1 percentage points vs 06-2026
08-2026: 0.1%● unchanged vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
1 of the last 3 accounts late
lowers risk
Liquidity: current ratio 5.60, cash €637,489, halved
Size: turnover €11.7m, 33.5 FTE, total assets €6.1m
Founded in 1948
Calculation
The band follows from the bankruptcy probability. 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 (NACE 71, small). It does better than 51% of them on solvency, 68% on liquidity, 32% on profitability and 48% on growth.
The bankruptcy probability was computed on 05-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 14,766 companies had the same profile as T.P.F. - ENGINEERING has now. Each dot stands for 37 companies, two years later.
96.2%
were still trading
3.5%
stopped another way
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of T.P.F. - ENGINEERING itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 14,766 companies, not a prediction for T.P.F. - ENGINEERING. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €240,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 5.6 (3.57 in 2024), above the usual 1.5. Short-term debt is 17.6% and cash 10.4% of total assets. However, 58.3% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 18-06-2026, 43 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
43 days early
2024
38 days early
2023
57 days late
2022
7 days late
2021
48 days early
2020
52 days early
2019
36 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 22 days before the deadline. In the sector (NACE 71), the median for financial year 2024 was 8 days before the deadline, and 34% 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 23 June (4 of the last 5 accounts filed within 45 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
06-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
A
ALBATER
Director, Thomas Spitaels, since 22-05-2018
RI
RSM INTER AUDIT
Auditor, Mathieu Noel
- T.P.F. 99.85%equity €62.7m (2025) · annual accounts 2025
- T.P.F. SA consolidatesannual accounts 2025
- TPF UTILITIES 0.11%score 89equity €8.2m (2025) · annual accounts 2025
Shares in 3 companies, including TPF ALGERIE and T.P.F. ECONOLER
Board & ownershipRecent changes
Reappointment: RSM INTER AUDIT (statutory auditor)
General meeting of 17-06-2025 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0400422532
Amendment of the articles
113 new shares · 22,564 new shares · 40,100 new shares · General meeting of 12-11-2024 · Gazette deed
Reappointments: Erwin Vangenechten (director) and Philippe Thibaut (director)
General meeting of 25-09-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | Turnover | EBIT margin | Solvency | Staff |
|---|---|---|---|---|
| T.P.F. - ENGINEERING Forest | €11.7m | 3.6% | 41.7% | 33.5 |
| Xylem Water Solutions Belgium Herent | €21.7m | 2.4% | 47.6% | 38.2 |
| PRESA Overijse | €12.4m | 8.5% | 58.3% | 31 |
| ABETEC ARCHITECTEN & INGENIEURS Zele | €9.2m | 6.4% | 33.7% | 53.3 |
| EVOLTA ENGINEERS Brussels | €12.1m | -1.7% | 24.8% | 71.4 |
| Agrer Ixelles | €7.1m | 14.2% | 29.8% | 14.2 |
| STUVEX INTERNATIONAL Kontich | €10.0m | -0.4% | 45.6% | 31 |
Grey: the largest companies of the sector (architecture and engineering (NACE 71)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as T.P.F. - ENGINEERING: engineering and related technical consultancy, excluding land surveyors (NACE 71121). They are comparable in size and age: total assets between €5.5m and €13m, founded between 1959 and 1986.
Official details
Source: KBO- Status
- Active since 01-01-1948Normal situation
- Registered office
- 21 active companies are registered at this addressSource: KBO register, as of 6 November 2026.
- Activity
- Engineering and related technical consultancy, excluding land surveyorsNACE 71121
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.036.354.1571190 Forest, since 01-06-1948
- Financial year end
- 31 December
- Peppol
- Reachable since 24-12-2025
Annual accounts 2025
- Total assets
- €6.1m▼ 12.7%
- Employeeson 31-12-2025
- 34▼ 2.9%
- Filing
- Filed on 18-06-2026, 43 days before the end of the filing period
Companies linked to T.P.F. - ENGINEERING
Parent and group
Insights on T.P.F. - ENGINEERING
T.P.F. - ENGINEERING has existed since 1948. Turnover grew from €9.0m in 2007 to €11.7m in 2025, while staff fell from 59.2 to 33.5 full-time equivalents.
Solvency rose in 2025 from 32.8% to 41.7% because of the retained profit and lower debts.
T.P.F. holds all the shares. In August 2023, the Official Gazette published the appointment of Philippe Thibaut as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about T.P.F. - ENGINEERING
- What is the company number of T.P.F. - ENGINEERING?
- The company number of T.P.F. - ENGINEERING is 0400.422.532. The VAT number is the same number with BE in front: BE 0400.422.532.
- Where is T.P.F. - ENGINEERING based?
- The registered office is at de Haveskerckelaan 46, 1190 Forest.Company details
- What does T.P.F. - ENGINEERING do?
- According to the KBO register, the main activity is engineering and related technical consultancy, excluding land surveyors (NACE 71121).
- What is the legal form of T.P.F. - ENGINEERING?
- T.P.F. - ENGINEERING is a public limited company (NV).
- When was T.P.F. - ENGINEERING founded?
- T.P.F. - ENGINEERING was founded on 01-01-1948.
- Is T.P.F. - ENGINEERING still active?
- Yes, T.P.F. - ENGINEERING is an active enterprise in the KBO register.
- How many employees does T.P.F. - ENGINEERING have?
- T.P.F. - ENGINEERING had an average of 33.5 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does T.P.F. - ENGINEERING fall under?
- In its 2025 annual accounts, T.P.F. - ENGINEERING states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of T.P.F. - ENGINEERING?
- The turnover of T.P.F. - ENGINEERING was €11.7m in financial year 2025, according to the filed annual accounts.
- Is T.P.F. - ENGINEERING profitable?
- In financial year 2025, T.P.F. - ENGINEERING made a profit of €253,852.
- Where can I find the annual accounts of T.P.F. - ENGINEERING?
- T.P.F. - ENGINEERING filed 48 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of T.P.F. - ENGINEERING due?
- T.P.F. - ENGINEERING must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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