TPH
ActiveSummary
TPH has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €270,849 and a net result of €28,319. Equity is growing by ~21.4% per year across the filed fiscal years. Its solvency ranks better than 63% of 1880 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability75▲+1
Solvency75▲+9
Growth78=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €18,000 at 30 days acceptable
Liquidity ample (current ratio 1.59 against 1.44 in 2024; short-term debt: 39.4% and cash: 6.4% of total assets), and 49.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
50.3%
Return on assets
5.3%
Age of the figures
12 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 08-04-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
21 d early
2023
33 d early
2022
30 d early
2021
2 d early
2020
30 d early
2019
31 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 on the deadline day, and 49% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€270,849▲ 11.7%
2024 · €242,530
Total assets
€537,986▼ 10.0%
2024 · €597,588
Net result
€28,319▲ 5.6%
2024 · €26,816
Working capital
€124,460▲ 7.4%
2024 · €115,918
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€61,018▲ 192%€96,260▲ 57.8%€51,229▼ 46.8%€46,344▼ 9.5%€41,621▼ 10.2%
Net result€42,041▲ 158%€67,871▲ 61.4%€31,243▼ 54.0%€26,816▼ 14.2%€28,319▲ 5.6%
Equity€116,600▲ 56.4%€184,471▲ 58.2%€215,715▲ 16.9%€242,530▲ 12.4%€270,849▲ 11.7%
Total assets€410,099▲ 60.8%€407,887▼ 0.5%€697,369▲ 71.0%€597,588▼ 14.3%€537,986▼ 10.0%
Debt€293,499▲ 62.6%€223,416▼ 23.9%€481,655▲ 116%€355,057▼ 26.3%€267,137▼ 24.8%
Working capital€75,287▲ 92.1%€94,025▲ 24.9%€87,745▼ 6.7%€115,918▲ 32.1%€124,460▲ 7.4%
Staff (FTE)1.9▲ 138%1.1▼ 42.1%2.6▲ 136%3.7▲ 42.3%3.8▲ 2.7%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 10% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €537,986
Fixed assets
€201,440 ▼ 8.7%
Current assets
€336,546 ▼ 10.7%
Equity and liabilities €537,986
Equity
€270,849 ▲ 11.7%
Debt
€267,137 ▼ 24.8%
Debt's share of the balance-sheet total falls from 59.4% to 49.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€112,838▲
2024 · €112,096
Cash flow
€99,536▲
2024 · €92,567
Current ratio
1.59▲
2024 · 1.44
Debt to equity
0.99▼
2024 · 1.46
ROE
10.5%▼
2024 · 11.1%
ROA
5.3%▲
2024 · 4.5%
Interest coverage
15.77▲
2024 · 9.36
Debt ≤ 1 year
€212,086▼
2024 · €260,952
Debt > 1 year
€52,977▼
2024 · €92,444
Income taxes
€12,849▲
2024 · €12,208
Staff costs
€227,375▲
2024 · €194,618
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.0% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 34,672 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €26,040 | - | - | €5,292 | - | - |
| Remuneration, social security and pensions62 | €80,792 | €39,521 | €161,292 | €194,618 | €227,375 | ▲ 16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,133 | €13,242 | €62,400 | €65,752 | €71,217 | ▲ 8.3% |
| Other operating charges640/8 | €449 | €102 | €707 | €952 | €2,082 | ▲ 119% |
| Non-recurring operating charges66A | €3,300 | - | - | €18,161 | - | - |
| Gross operating margin9900 | €152,691 | €149,124 | €275,628 | €325,826 | €342,294 | ▲ 5.1% |
| Operating profit (loss)9901 | €61,018 | €96,260 | €51,229 | €46,344 | €41,621 | ▼ 10.2% |
| Financial income75/76B | €353 | €442 | €2,888 | €4,650 | €6,704 | ▲ 44.2% |
| Recurring financial income75 | €353 | €442 | €2,888 | €4,650 | €6,704 | ▲ 44.2% |
| Financial charges65/66B | €2,733 | €1,683 | €9,681 | €11,971 | €7,157 | ▼ 40.2% |
| Recurring financial charges65 | €2,733 | €1,683 | €9,681 | €11,971 | €7,157 | ▼ 40.2% |
| Profit (loss) for the period before taxes9903 | €58,638 | €95,018 | €44,436 | €39,023 | €41,167 | ▲ 5.5% |
| Income taxes67/77 | €16,597 | €27,147 | €13,192 | €12,208 | €12,849 | ▲ 5.2% |
| Profit (loss) for the period9904 | €42,041 | €67,871 | €31,243 | €26,816 | €28,319 | ▲ 5.6% |
| Profit (loss) for the period to be appropriated9905 | €42,041 | €67,871 | €31,243 | €26,816 | €28,319 | ▲ 5.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €410,099 | €407,887 | €697,369 | €597,588 | €537,986 | ▼ 10.0% |
| Formation expenses20 | - | - | - | €0 | €0 | - |
| Fixed assets21/28 | €41,314 | €167,713 | €292,350 | €220,718 | €201,440 | ▼ 8.7% |
| Tangible fixed assets22/27 | €11,654 | €138,053 | €257,690 | €186,058 | €166,780 | ▼ 10.4% |
| Plant, machinery and equipment23 | €882 | €16,260 | €12,575 | €11,738 | €8,898 | ▼ 24.2% |
| Furniture and vehicles24 | - | €101,412 | €141,639 | €102,193 | €78,474 | ▼ 23.2% |
| Leasing and similar rights25 | €10,772 | €20,382 | €103,476 | €72,127 | €79,408 | ▲ 10.1% |
| Financial fixed assets28 | €29,660 | €29,660 | €34,660 | €34,660 | €34,660 | = |
| Current assets29/58 | €368,786 | €240,173 | €405,019 | €376,870 | €336,546 | ▼ 10.7% |
| Amounts receivable within one year40/41 | €290,516 | €218,791 | €380,700 | €344,089 | €291,230 | ▼ 15.4% |
| Trade receivables40 | €220,298 | €121,381 | €164,062 | €140,712 | €90,150 | ▼ 35.9% |
| Other amounts receivable41 | €70,219 | €97,410 | €216,637 | €203,377 | €201,081 | ▼ 1.1% |
| Cash at bank and in hand54/58 | €75,812 | €17,483 | €13,040 | €25,121 | €34,485 | ▲ 37.3% |
| Deferred charges and accrued income490/1 | €2,457 | €3,900 | €11,280 | €7,660 | €10,830 | ▲ 41.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €410,099 | €407,887 | €697,369 | €597,588 | €537,986 | ▼ 10.0% |
| Equity10/15 | €116,600 | €184,471 | €215,715 | €242,530 | €270,849 | ▲ 11.7% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €110,400 | €178,271 | €209,515 | €236,330 | €264,649 | ▲ 12.0% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | €108,540 | €176,411 | €207,655 | €236,330 | €264,649 | ▲ 12.0% |
| Amounts payable17/49 | €293,499 | €223,416 | €481,655 | €355,057 | €267,137 | ▼ 24.8% |
| Amounts payable after more than one year17 | - | €77,267 | €163,061 | €92,444 | €52,977 | ▼ 42.7% |
| Financial debts170/4 | - | €77,267 | €163,061 | €92,444 | €52,977 | ▼ 42.7% |
| Amounts payable within one year42/48 | €293,499 | €146,148 | €317,274 | €260,952 | €212,086 | ▼ 18.7% |
| Current portion of amounts payable after more than one year42 | €6,772 | €26,922 | €71,165 | €73,950 | €92,193 | ▲ 24.7% |
| Trade debts44 | €182,793 | €110,390 | €219,026 | €160,712 | €87,670 | ▼ 45.4% |
| Suppliers440/4 | €182,793 | €110,390 | €219,026 | €160,712 | €87,670 | ▼ 45.4% |
| Taxes, remuneration and social security45 | €39,142 | €8,836 | €27,083 | €26,290 | €32,223 | ▲ 22.6% |
| Taxes450/3 | €26,841 | €4,749 | €8,782 | €11,020 | €13,889 | ▲ 26.0% |
| Remuneration and social security454/9 | €12,301 | €4,087 | €18,302 | €15,271 | €18,335 | ▲ 20.1% |
| Other amounts payable47/48 | €64,793 | - | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | €1,320 | €1,662 | €2,075 | ▲ 24.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €42,041 | €67,871 | €31,243 | €26,816 | €28,319 | ▲ 5.6% |
| + Depreciation and write-downs630 | €7,133 | €13,242 | €62,400 | €65,752 | €71,217 | ▲ 8.3% |
| Operating cash flow (approximation) | €49,174 | €81,113 | €93,644 | €92,567 | €99,536 | ▲ 7.5% |
| Investment in fixed assets (approximation) | - | -€139,642 | -€187,037 | €5,881 | -€51,940 | ▼ 983% |
| Change in cash | - | -€58,329 | -€4,443 | €12,082 | €9,364 | ▼ 22.5% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
08-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
09-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
28-03
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Equity above €200,000Eq €215,715 ▲16.9%
6 profitable years in a row build equity to €215,715.
31-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Highest result since 2018net €67,871 ▲61.4%
Operating result €96,260, net result €67,871, both a record.
30-09
Financial
Equity above €150,000Eq €184,471 ▲58.2%
5 profitable years in a row build equity to €184,471.
28-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Equity above €100,000Eq €116,600 ▲56.4%
4 profitable years in a row build equity to €116,600.
31-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Weakest financial yearnet €3,115 ▼73.6%
Net result drops to €3,115, the lowest in the series; recovery starts the following year.
Show earlier events
05-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
06-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
10-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Bornem · 1 establishment unit since 2011
Ground area
5,425 m²
Building footprint
1,027 m²
Volume, LiDAR
6,222 m³
Parcel 12007C0259/00A000, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
TPH
since 20112.205.200.176
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12007C0259/00A000 | Flanders | 5,425 m² | 1 · 1,027 m² | 8.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 651 EUR awarded · 651 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 651 EUR | 651 EUR |
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Of 12,584 companies in sector 49410 we hold annual accounts for 8,199. 5,955 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded02-12-2011
Fiscal year end30-09
Activities, NACEBEL 2025
49410Freight transport by road
E-invoicing
Reachable via Peppol
Peppol ID
0208:0841507662
Also
9925:BE0841507662
Registered
01-04-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.