Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 50 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
T.W.Z. from Evergem, company number BE0441198659, closed financial year 2025 with a result of € 8.7 million after tax. For that financial year T.W.Z. recorded revenue of € 22.3 million and equity of € 82.4 million. Compared with financial year 2024, the result moved from € 7.2 million to € 8.7 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 29, 2026.
€ 82.4 million
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 8.7 million
▲ 20% vs 2024
Profit after tax over the fiscal year.
€ 3.4 million
▲ 50% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 8.5 million paid out
98 % of the profit went to the shareholders, the rest stayed in the company.
People and assets in 2025
54.8
▲ 4.9 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 4.8 million
▲ 18% vs 2024
€ 86,900 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 426,297
▲ 10% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 3.1 million
▼ 1% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 72 days on average.
€ 907,780
▲ 10% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 17,950,787 | € 22,899,055 | € 21,553,327 | € 22,328,452 | ▲ 4% |
| Profit after taxes | € 4,174,667 | € 6,980,424 | € 7,233,957 | € 8,715,444 | ▲ 20% |
| Equity | € 7,361,202 | € 7,444,672 | € 82,274,867 | € 82,423,584 | |
| Total debts | € 12,186,261 | € 14,790,927 | € 20,243,737 | € 26,173,324 | ▲ 29% |
| Cash | € 1,123,693 | € 6,062,120 | € 2,276,707 | € 3,406,614 | ▲ 50% |
| Land & buildings | € 2,827,653 | € 2,766,244 | € 2,943,716 | € 2,710,576 | ▼ 8% |
| Retained profit | € 696,100 | € 696,100 | € 1,057,798 | € 1,219,846 | ▲ 15% |
| Dividend | € 4,986,624 | € 6,952,872 | € 6,836,041 | € 8,508,465 | ▲ 24% |
| Bank debt | € 0 | € 30 | € 0 | € 0 | |
| Balance sheet total | € 19,605,316 | € 22,291,001 | € 102,571,542 | € 108,601,009 | ▲ 6% |
| Employees (FTE) | 51.2 | 51.7 | 49.9 | 54.8 | ▲ 4.9 |
Key figures of T.W.Z., fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to T.W.Z.?
What happened at T.W.Z. in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 8.7 million (▲ 20% vs 2024). Source: NBB ↗
- Hydropale BO stepped down as director. NBB
- Demisan BV stepped down as director. NBB
- Sotrenor BO stepped down as director. NBB
- Sarp Industries BO stepped down as director. NBB
- Betramin NV stepped down as director. NBB
- New establishment in Diksmuide. KBO
- Hydropale BO became a director. NBB
In short
From € 4.2 million profit in 2022 to € 8.7 million profit in 2025.
Paid € 3.6 million in corporate taxes since 2022.
Best year ever: 2025, with € 8.7 million profit.
Paid out € 27.3 million in dividends to the owners in total.
Management
The stake of BETRAMIN comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
T.W.Z.The shares are held by BETRAMIN (26.5%). It owns 100% of PCB Decontamination, 100% of Sarpi Netherlands, 100% of Veolia ES MRC, 50% of Recyclage et Valorisation Technicque, 50% of Oilco and 50% of Recyfuel itself.
Directors
According to the 2025 annual accounts
Hydropale BO
Director · represented by Pascal Muller
since 2020 · until 2026
Managing director · represented by Ivo De Vlieghere
Also active at: RECYCLAGE ET VALORISATION TECHNIQUE, PCB Decontamination, RECYFUEL, Veolia ES MRC, OILCO
since 2020 · until 2026
Sotrenor BO
Director · represented by Catherine Riccou
since 2020 · until 2026
Sarp Industries BO
Chairman of the board · represented by Jérôme Eloy
since 2020 · until 2026
since 2020 · until 2026
Shareholders
26.5%
Participations
100%
Sarpi Netherlands
100%
100%
50%
50%
Establishments
Establishment units
Physical locations of this company
Durmakker 4
9940 Evergem
Munsterenstraat 30
3600 Genk
Active since 23 January 2017
Philips Landsbergiuslaan 340
9000 Gent
Active since 12 November 2008
Heernisse(D) 11A
8600 Diksmuide
Active since 1 July 2020
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0441.198.659
- VAT number
- BE 0441.198.659
- Registered office
- Durmakker 4, 9940 Evergem
- Names & denominations
- T.W.Z.
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 5 July 1990
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Afvalwaterafvoer
Afvalwaterinzameling en -behandeling
Terugwinning van materialen uit afval
Industriële reiniging
Fysicochemische verwerking van slib en vloeibare afvalstoffen
Andere reinigingsactiviteiten
Inzameling van ongevaarlijk afval
Terugwinning van metaalafval
+1