TPF UTILITIES: what changed
What changed
TPF UTILITIES
NACE 37.000, Sewerage
filed annual accounts (NBB)
Net result for the year
€1.2m
2024 · €344,468+€805,893
Equity
€8.2m
2024 · €7.0m+€1.2m
Cash
€409,305
2024 · €3.3m-€2.9m
Balance sheet total
€20.1m
2024 · €17.8m+€2.3m
Largest movements
Assets
- Current investments +€3.2m
new in 2025: €3.2m
- Cash -€2.9m
down €2.9m (-87.6%), from €3.3m to €409,305
mainly Current investments (-€3.2m) and Receivables within one year (-€1.1m)
- Receivables within one year +€1.1m
up €1.1m (+10.2%), from €10.7m to €11.8m
of which Other amounts receivable: +€950,284
- Deferred charges and accrued income +€868,861
up €868,861 (+43.9%), from €2.0m to €2.9m
Equity and liabilities
- Accrued charges and deferred income +€1.6m
up €1.6m (+115%), from €1.4m to €3.1m
- Profit (loss) carried forward +€852,873
up €852,873 (+28.1%), from €3.0m to €3.9m
- Trade debts -€525,569
down €525,569 (-9.2%), from €5.7m to €5.2m
- Reserves +€297,488
up €297,488 (+61.5%), from €483,520 to €781,008
of which Tax-exempt reserves: +€252,600
- Tax, wage and social debts +€216,643
up €216,643 (+10.3%), from €2.1m to €2.3m
of which Remuneration and social security: +€198,474
Income statement
- Turnover +€2.1m
up €2.1m (+6.9%), from €30.2m to €32.3m
- Staff costs +€831,000
up €831,000 (+9.3%), from €9.0m to €9.8m
- Services and other goods +€424,226
up €424,226 (+9.0%), from €4.7m to €5.1m
- Goods and materials +€337,686
up €337,686 (+2.1%), from €16.2m to €16.5m
- Financial charges -€328,622
down €328,622 (-52.6%), from €625,272 to €296,650
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€344,468
Turnover
+€2.1m
Other operating income
-€231,727
Goods and materials
-€337,686
Services and other goods
-€424,226
Staff costs
-€831,000
Depreciation
+€7,022
Write-downs
-€35,523
Provisions
+€25,000
Other operating charges
+€24,189
Other operating items
+€654,888
Financial income
-€193,892
Financial charges
+€328,622
Taxes
-€275,801
Result 2025
€1.2m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€512,085
Investment
-€3.2m
Financing
-€200,965
Cash 2024
€3.3m
From operations (derived)
+€512,085
Net result for the year
+€1.2m
Depreciation
+€59,372
Stocks and contracts
-€112,070
Receivables within one year
-€1.1m
Deferred charges and accrued income
-€868,861
Trade debts
-€525,569
Tax, wage and social debts
+€216,643
Other debts
+€36,747
Accrued charges and deferred income
+€1.6m
Investment (derived)
-€3.2m
Investment in fixed assets (net)
-€58,557
Current investments
-€3.2m
Financing
-€200,965
Short-term financial debts
-€200,965
Cash 2025
€409,305
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,768,122 | €20,088,998 | +€2.3m | +13.1% |
| Fixed assets | 21/28 | €1,561,499 | €1,560,684 | -€815 | -0.1% |
| Intangible fixed assets | 21 | €34,922 | €20,109 | -€14,812 | -42.4% |
| Tangible fixed assets | 22/27 | €63,096 | €77,093 | +€13,997 | +22.2% |
| Land and buildings | 22 | €1 | €1 | = | 0.0% |
| Plant, machinery and equipment | 23 | €493 | €2,240 | +€1,746 | +354% |
| Furniture and vehicles | 24 | €56,944 | €70,768 | +€13,824 | +24.3% |
| Other tangible fixed assets | 26 | €5,658 | €4,085 | -€1,573 | -27.8% |
| Financial fixed assets | 28 | €1,463,481 | €1,463,481 | = | 0.0% |
| Affiliated companies | 280/1 | €1,446,909 | €1,446,909 | = | 0.0% |
| Participating interests | 280 | €1,446,909 | €1,446,909 | = | 0.0% |
| Other financial fixed assets | 284/8 | €16,572 | €16,572 | = | 0.0% |
| Shares | 284 | €0 | €0 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €16,572 | €16,572 | = | 0.0% |
| Current assets | 29/58 | €16,206,624 | €18,528,314 | +€2.3m | +14.3% |
| Stocks and contracts in progress | 3 | €204,617 | €316,688 | +€112,070 | +54.8% |
| Stocks | 30/36 | €70,918 | €63,827 | -€7,092 | -10.0% |
| Raw materials and consumables | 30/31 | €70,918 | €63,827 | -€7,092 | -10.0% |
| Contracts in progress | 37 | €133,699 | €252,861 | +€119,162 | +89.1% |
| Amounts receivable within one year | 40/41 | €10,713,968 | €11,802,164 | +€1.1m | +10.2% |
| Trade receivables | 40 | €9,121,675 | €9,259,588 | +€137,912 | +1.5% |
| Other amounts receivable | 41 | €1,592,292 | €2,542,576 | +€950,284 | +59.7% |
| Current investments | 50/53 | - | €3,150,000 | +€3.2m | |
| Other investments | 51/53 | - | €3,150,000 | +€3.2m | |
| Cash at bank and in hand | 54/58 | €3,306,742 | €409,305 | -€2.9m | -87.6% |
| Deferred charges and accrued income | 490/1 | €1,981,297 | €2,850,158 | +€868,861 | +43.9% |
| Total equity and liabilities | 10/49 | €17,768,122 | €20,088,998 | +€2.3m | +13.1% |
| Equity | 10/15 | €7,040,254 | €8,190,615 | +€1.2m | +16.3% |
| Contributions | 10/11 | €3,525,000 | €3,525,000 | = | 0.0% |
| Capital | 10 | €3,525,000 | €3,525,000 | = | 0.0% |
| Issued capital | 100 | €3,525,000 | €3,525,000 | = | 0.0% |
| Reserves | 13 | €483,520 | €781,008 | +€297,488 | +61.5% |
| Non-distributable reserves | 130/1 | €353,010 | €353,359 | +€349 | +0.1% |
| Legal reserve | 130 | €352,151 | €352,500 | +€349 | +0.1% |
| Other | 1319 | €859 | €859 | = | 0.0% |
| Tax-exempt reserves | 132 | €130,510 | €383,110 | +€252,600 | +194% |
| Distributable reserves | 133 | - | €44,539 | +€44,539 | |
| Profit (loss) carried forward | 14 | €3,031,734 | €3,884,607 | +€852,873 | +28.1% |
| Provisions and deferred taxes | 16 | €25,000 | €25,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €25,000 | €25,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €25,000 | €25,000 | = | 0.0% |
| Amounts payable | 17/49 | €10,702,868 | €11,873,383 | +€1.2m | +10.9% |
| Amounts payable after more than one year | 17 | €0 | €0 | = | |
| Financial debts | 170/4 | €0 | €0 | = | |
| Credit institutions | 173 | €0 | €0 | = | |
| Amounts payable within one year | 42/48 | €9,269,732 | €8,796,589 | -€473,143 | -5.1% |
| Financial debts | 43 | €1,387,951 | €1,186,986 | -€200,965 | -14.5% |
| Credit institutions | 430/8 | €1,387,951 | €1,186,986 | -€200,965 | -14.5% |
| Trade debts | 44 | €5,710,188 | €5,184,619 | -€525,569 | -9.2% |
| Suppliers | 440/4 | €5,710,188 | €5,184,619 | -€525,569 | -9.2% |
| Taxes, remuneration and social security | 45 | €2,098,321 | €2,314,964 | +€216,643 | +10.3% |
| Taxes | 450/3 | €1,043,134 | €1,061,304 | +€18,170 | +1.7% |
| Remuneration and social security | 454/9 | €1,055,187 | €1,253,660 | +€198,474 | +18.8% |
| Other amounts payable | 47/48 | €73,273 | €110,020 | +€36,747 | +50.2% |
| Accrued charges and deferred income | 492/3 | €1,433,136 | €3,076,794 | +€1.6m | +115% |
| Operating income | 70/76A | €30,910,166 | €33,429,354 | +€2.5m | +8.2% |
| Turnover | 70 | €30,240,506 | €32,336,533 | +€2.1m | +6.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €40,807 | €119,162 | +€78,356 | +192% |
| Other operating income | 74 | €628,854 | €397,126 | -€231,727 | -36.8% |
| Non-recurring operating income | 76A | - | €576,532 | +€576,532 | |
| Operating charges | 60/66A | €30,009,936 | €31,582,161 | +€1.6m | +5.2% |
| Goods for resale, raw materials and consumables | 60 | €16,201,826 | €16,539,512 | +€337,686 | +2.1% |
| Purchases | 600/8 | €16,201,826 | €16,539,512 | +€337,686 | +2.1% |
| Services and other goods | 61 | €4,710,888 | €5,135,115 | +€424,226 | +9.0% |
| Remuneration, social security and pensions | 62 | €8,969,995 | €9,800,995 | +€831,000 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,394 | €59,372 | -€7,022 | -10.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,569 | €37,092 | +€35,523 | +2,265% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €25,000 | €0 | -€25,000 | -100% |
| Other operating charges | 640/8 | €34,264 | €10,075 | -€24,189 | -70.6% |
| Non-recurring operating charges | 66A | €0 | €0 | = | |
| Operating profit (loss) | 9901 | €900,230 | €1,847,194 | +€946,964 | +105% |
| Financial income | 75/76B | €282,038 | €88,146 | -€193,892 | -68.7% |
| Recurring financial income | 75 | €282,038 | €88,146 | -€193,892 | -68.7% |
| Income from current assets | 751 | €237,307 | €84,854 | -€152,453 | -64.2% |
| Other financial income | 752/9 | €44,731 | €3,292 | -€41,439 | -92.6% |
| Non-recurring financial income | 76B | €0 | €0 | = | |
| Financial charges | 65/66B | €625,272 | €296,650 | -€328,622 | -52.6% |
| Recurring financial charges | 65 | €625,272 | €296,650 | -€328,622 | -52.6% |
| Debt charges | 650 | €564,133 | €178,757 | -€385,375 | -68.3% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €0 | €41,980 | +€41,980 | |
| Other financial charges | 652/9 | €61,139 | €75,913 | +€14,774 | +24.2% |
| Profit (loss) for the period before taxes | 9903 | €556,996 | €1,638,690 | +€1.1m | +194% |
| Income taxes | 67/77 | €212,528 | €488,328 | +€275,801 | +130% |
| Taxes | 670/3 | €212,528 | €488,328 | +€275,801 | +130% |
| Profit (loss) for the period | 9904 | €344,468 | €1,150,361 | +€805,893 | +234% |
| Transfer to tax-exempt reserves | 689 | €130,510 | €252,600 | +€122,090 | +93.5% |
| Profit (loss) for the period to be appropriated | 9905 | €213,958 | €897,761 | +€683,803 | +320% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.