Skip to content

TPF UTILITIES

Active
Public limited companyfounded 196858 yrs activede Haveskerckelaan 46, 1190 Vorst, BelgiumKBO/BCE: BE 0406.406.442
Summary

TPF UTILITIES has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €8.2m and a net result of €1.2m. Equity is growing by ~10.4% per year across the filed fiscal years. Its solvency ranks better than 47% of 126 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Risk analysisWatch ReportCompare
TPF UTILITIESActiveChecked score 89/100
Risk analysis ReportCompare

Overview

Activity
Sewerage
NACE 37000NACE 90010
#3 oldest company in the Brussels-Capital Region, Water and waste sector5 sites
Size
€32.3mturnover 2025
Staff
118.6 FTE
Equity
€8.2m
Profit
€1.2m
Financial health
89 Excellent Checked score 2025
Bankruptcy chance 12 m
0.2%
Structure
Parent
T.P.F. · 99.99%
Holdings
1
Accounts filed 23 d late0 of 21 deeds read
Why 89- Liquidity: current ratio 2.11, cash €409,305, halved- Latest accounts 23 days late; 1 of the last 3 late+ Size: turnover €32.3m, 118.6 FTE, total assets €20.1m+ Founded in 1968Show the evidence

Checked score

Score 2025
89 / 100
Excellent
Probability in this band: under 0.55%
Better than 46% of its sector peers (NACE 37)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Average
Solvency 66+1
equity 40.8% of total assets
Liquidity 31-16
short-term debt 43.8% · cash 2.0%
Profitability 65+30
return on assets 5.7%
Bankruptcy probability, 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (9 companies)
Last 13 months 10-2025: 0.1% 11-2025: 0.1%● 0.0% vs 10-2025 12-2025: 0.1%● 0.0% vs 11-2025 01-2026: 0.1%● 0.0% vs 12-2025 02-2026: 0.1%▼ -4.2% vs 01-2026 03-2026: 0.1%▼ -1.1% vs 02-2026 04-2026: 0.1%▼ -3.3% vs 03-2026lowest value 05-2026: 0.1%▲ +1.1% vs 04-2026 06-2026: 0.1%▲ +2.2% vs 05-2026 07-2026: 0.1%▼ -1.1% vs 06-2026 08-2026: 0.2%▲ +94.4% vs 07-2026highest value 09-2026: 0.2%▼ -6.9% vs 08-2026 10-2026: 0.2%● 0.0% vs 09-2026
  • Size: turnover €32.3m, 118.6 FTE, total assets €20.1m lowers the probability for this profile
  • Liquidity: current ratio 2.11, cash €409,305, halved raises the probability
  • Founded in 1968 lowers the probability for this profile
  • Latest accounts 23 days late; 1 of the last 3 late raises the probability
Credit up to €700,000 at 30 days acceptable
Liquidity ample (current ratio 2.11 against 1.75 in 2024; short-term debt: 43.8% and cash: 2% of total assets), but 59.2% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 37). Better than this share of them on solvency 54%, liquidity 34%, profitability 23%, growth against the median 71%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 02-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

Credit check for your own amount and term

Show the recommended maximum : and see how the verdict changes with amount, term and advance.

Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Size: turnover €32.3m, 118.6 FTE, total assets €20.1m
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
raises risk · Liquidity: current ratio 2.11, cash €409,305, halved
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
lowers risk · Founded in 1968
In the bankruptcy model this factor lowers the probability for this profile.
KBO
raises risk · Latest accounts 23 days late; 1 of the last 3 late
In the bankruptcy model this factor raises the probability.
NBB · filings
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 23-08-2026, 23 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filings
Deviation from the deadline
2025
23 d late
2024
17 d early
2023
68 d late
2022
26 d early
2021
47 d early
2020
73 d early
2019
93 d 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 24 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 38% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 14 July (4 of the last 5 filed years within 40 days of that day).
Companies Code · seven months
Position in the running window
02-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · full…
  2. Annual accounts filedfiscal year 2024 · full…
  3. Annual accounts filedfiscal year 2023 · full…

Key points

  • Positive: Result rose in 2025from €344,468 to €1.2m ▲ 234% View
  • Positive: Among the best 7% on equitysector median €270,210 · 126 companies €8.2m View
  • Controlled by T.P.F.known shareholders 100% 99.99% View
  • Positive: 7 profitable years in a rowprofit 2025: €1.2m 7 years View
  • Active since 1968founded 04-07-1968 58 years View

By topic

Financials

Fiscal year
2025
Turnover
€32.3m
Profit
€1.2m
Solvency
40.8%
Turnover▲ 6.9%
Net result
20182025
Go to Financials

Timeline

Events
13
Since
2017
Next accounts
by 31-07-2027
  1. 23-08-2026Annual accounts filed
  2. 14-07-2025Annual accounts filed
  3. 07-10-2024Annual accounts filed
Go to Timeline

Company details

Sites
5
Legal form
Public limited company
Activity
SewerageNACE 37000
Founded
04-07-1968
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Go further with this company

How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check

Your own company? See how customers, suppliers and banks see it and what to improve first.

Investigating this company? Keep it with today's facts in a case file.

We would like to set cookies. That happens only with your consent. What we measure