ACTIVE

SOLITHERM

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Financial year 2025 · closed on 31/12/2025
Net result
71,9 k €
-91.4% YoY
Gross margin
2,9 M €
-29.8% YoY
Equity
1,8 M €
-25.8% YoY
Workforce
34,5 ETP
-12.0% YoY

What does SOLITHERM do?

SOLITHERM is a Public limited company incorporated in 1969. Its main activity is: Manufacture of flat glass. Its registered office is in Waregem. It employs on average 34,5 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0406.724.760
Incorporation
02/06/1969
Legal form
Public limited company
Registered office
Caseelstraat 124
8790 Waregem · FlandreSee on map
Contributed capital
640 000,00 €
Latest accounts
31/12/2025
Average workforce
34,5 ETP
Activities (NACE)
23110Manufacture of flat glass· main23110Manufacture of flat glass23120Shaping and processing of flat glass23120Shaping and processing of flat glass26110Manufacture of electronic components26120Manufacture of loaded electronic boards+3
Joint committees (7)
  • 115
  • 1150
  • 124
  • 1240
  • 200
  • 2000
  • 218
Signals
ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debts
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 16 financial years

2025202420232022202120182015201420132012201120102009200820072006
Income statement
Gross margin2,9 M €4,1 M €4,1 M €3,2 M €3,5 M €3,2 M €3 M €3,1 M €3,1 M €–––––––
EBITDA827,3 k €1,7 M €1,6 M €880,3 k €1,1 M €1,1 M €1 M €964,3 k €1,1 M €1,2 M €1,2 M €1,4 M €1,7 M €512,3 k €1,1 M €820,8 k €
Operating result251,3 k €1,3 M €1,2 M €530,9 k €891 k €926,4 k €733,9 k €592,8 k €365,4 k €595,1 k €970,2 k €1,1 M €1,5 M €538,3 k €742,5 k €452,1 k €
Net result71,9 k €839,3 k €810,4 k €446,1 k €655,3 k €619,1 k €413,1 k €358,5 k €208,2 k €445,1 k €702,4 k €783 k €997 k €663,6 k €584,8 k €365,6 k €
Balance sheet
Equity1,8 M €2,4 M €2,2 M €2,2 M €2 M €1,4 M €1,3 M €852,4 k €1,5 M €1,3 M €4,3 M €4,4 M €3,6 M €2,6 M €4,4 M €3,9 M €
Total assets5,5 M €6,9 M €7,2 M €7,4 M €6,2 M €4,8 M €3 M €4 M €4,8 M €6,1 M €5,6 M €4,8 M €4,5 M €4,7 M €5 M €4,4 M €
Cash334,1 k €832 k €570,1 k €661,8 k €1 M €610,5 k €764,6 k €1,2 M €1,6 M €1,1 M €2,9 M €2,1 M €1 M €1,5 M €1,4 M €663,1 k €
Debts3,6 M €4,4 M €5 M €5,2 M €4,2 M €3,4 M €1,7 M €3,1 M €3,2 M €4,8 M €1,2 M €413,1 k €830,5 k €2,1 M €555,8 k €471,4 k €
Other
Workforce34,5 ETP39,2 ETP40,4 ETP41,3 ETP43,8 ETP39,2 ETP39,8 ETP39,5 ETP37,8 ETP38,8 ETP38,7 ETP38,4 ETP39,0 ETP34,2 ETP31,4 ETP32,7 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 30 ended

Active mandates

ALT 1912 INVEST

Managing director · since 06 octobre 2025 · until 07 juin 2031 · 0883.450.165

Represented by Dave Cafmeyer

Active
IDUSA

Director · since 06 octobre 2025 · until 07 juin 2031 · 0787.612.977

Represented by Julius Sanders

Active
Patrick Hoornaert

Director · since 12 mai 2025 · until 06 octobre 2025

Active
DEMACO INVEST

Director · until 12 mai 2025 · 0524.691.905

Represented by Patrick Hoornaert

Active
HOOCAF

Director · until 06 octobre 2025 · 0690.915.855

Represented by Philippe Hoornaert

Active

Ended mandates

ALT 1912 INVEST

Director · since 28 février 2018 · until 01 juin 2024 · 0883.450.165

Represented by Dave Cafmeyer

Ended
ALT 1912 INVEST

Director · since 28 février 2018 · until 01 juin 2024 · 0883.450.165

Represented by Dave Cafmeyer

Ended
DEMACO INVEST

Director · since 28 février 2018 · until 01 juin 2024 · 0524.691.905

Represented by Patrick Hoornaert

Ended
DEMACO INVEST

Director · since 28 février 2018 · until 01 juin 2024 · 0524.691.905

Represented by Patrick Hoornaert

Ended
At this address

Other companies at this address

CompanyCBE no.
CAFMILLERS● Active
1028.225.734
HOOCAF● Active
0690.915.855
Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date09/07/202629/04/202516/07/202403/07/202313/07/202229/06/2021
General meeting30/06/202618/04/202524/06/202402/06/202317/06/202205/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202530/06/202609/07/2026DutchPDF
Abridged model31/12/202418/04/202529/04/2025DutchPDF
Abridged model31/12/202324/06/202416/07/2024DutchPDF
Abridged model31/12/202202/06/202303/07/2023DutchPDF
Abridged model31/12/202117/06/202213/07/2022DutchPDF
Abridged model31/12/202005/06/202129/06/2021DutchPDF
Abridged model31/12/201906/06/202029/06/2020DutchPDF
Abridged model31/12/201817/06/201916/07/2019DutchPDF
Abridged model31/12/201721/02/201815/03/2018DutchPDF
Abridged model31/12/201626/06/201726/07/2017DutchPDF
Abridged model31/12/201525/06/201620/07/2016DutchPDF
Abridged model31/12/201409/06/201524/06/2015DutchPDF
Abridged model31/12/201307/06/201402/07/2014DutchPDF
Full model31/12/201202/05/201304/06/2013DutchPDF
Full model31/12/201112/06/201229/06/2012DutchPDF
Full model31/12/201014/06/201105/07/2011DutchPDF
Full model31/12/200908/06/201026/07/2010DutchPDF
Full model31/12/200809/06/200922/07/2009DutchPDF
Full model31/12/200707/06/200810/07/2008DutchPDF
Full model31/12/200612/06/200720/06/2007DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan
Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 30 ended

Active mandates

ALT 1912 INVEST

Managing director · since 06 octobre 2025 · until 07 juin 2031 · 0883.450.165

Represented by Dave Cafmeyer

Active
IDUSA

Director · since 06 octobre 2025 · until 07 juin 2031 · 0787.612.977

Represented by Julius Sanders

Active
Patrick Hoornaert

Director · since 12 mai 2025 · until 06 octobre 2025

Active
DEMACO INVEST

Director · until 12 mai 2025 · 0524.691.905

Represented by Patrick Hoornaert

Active
HOOCAF

Director · until 06 octobre 2025 · 0690.915.855

Represented by Philippe Hoornaert

Active

Ended mandates

ALT 1912 INVEST

Director · since 28 février 2018 · until 01 juin 2024 · 0883.450.165

Represented by Dave Cafmeyer

Ended
ALT 1912 INVEST

Director · since 28 février 2018 · until 01 juin 2024 · 0883.450.165

Represented by Dave Cafmeyer

Ended
DEMACO INVEST

Director · since 28 février 2018 · until 01 juin 2024 · 0524.691.905

Represented by Patrick Hoornaert

Ended
DEMACO INVEST

Director · since 28 février 2018 · until 01 juin 2024 · 0524.691.905

Represented by Patrick Hoornaert

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates31/10/2025
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - BENAMING - ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates27/05/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates02/04/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other11/12/2023
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Mandates07/03/2018
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - DIVERSEN - DOEL - ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates29/10/2015
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates23/10/2013
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates15/05/2013
    ONTSLAGEN - BENOEMINGEN
    PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 2025
    Annual accounts 202571,9 k €↓
  2. 2025
    Name changeSOLITHERM
  3. 2024
    Annual accounts 2024839,3 k €↑
  4. 2023
    Annual accounts 2023810,4 k €↑
  5. 2022
    Annual accounts 2022446,1 k €↓
  6. 2021
    Annual accounts 2021655,3 k €↑
  7. 2018
    Annual accounts 2018619,1 k €↑
  8. 2015
    Annual accounts 2015413,1 k €↑
  9. 2014
    Annual accounts 2014358,5 k €↑
  10. 2013
    Annual accounts 2013208,2 k €↓
  11. 2012
    Annual accounts 2012445,1 k €↓
  12. 2011
    Annual accounts 2011702,4 k €↓
  13. 2010
    Annual accounts 2010783 k €↓
  14. 2009
    Annual accounts 2009997 k €↑
  15. 2008
    Annual accounts 2008663,6 k €↑
  16. 2007
    Annual accounts 2007584,8 k €↑
  17. 2006
    Annual accounts 2006365,6 k €
  18. 2006
    Name changeSoliver Waregem
  19. 02/06/1969
    IncorporationPublic limited company