ACTIVE

MICROTHERM

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Financial year 2025 · closed on 31/12/2025

Net result

-475,9 k €

-125.3% YoY

Revenue

19 M €

-39.2% YoY

Equity

9,6 M €

-4.7% YoY

Workforce

120,4 ETP

-7.5% YoY

What does MICROTHERM do?

MICROTHERM is a Public limited company incorporated in 1970. Its main activity is: Manufacture of articles of concrete, cement and plaster. Its registered office is in Sint-Niklaas. It employs on average 120,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0407.566.878

Incorporation

30/10/1970

Legal form

Public limited company

Registered office

Industriepark-Noord 1
9100 Sint-Niklaas · FlandreSee on map

Contributed capital

5 431 583,00 €

Latest accounts

31/12/2025

Average workforce

120,4 ETP

Activities (NACE)

23660Manufacture of articles of concrete, cement and plaster· main 23690Manufacture of other articles of concrete, plaster and cement 23990Manufacture of other non-metallic mineral products n.e.c.23990Manufacture of other non-metallic mineral products n.e.c.26660Manufacture of irradiation, electromedical and electrotherapeutic equipment 26820Manufacture of magnetic and optical media+3

Joint committees (2)

Signals

Solid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Revenue	19 M €	-39.2%	31,3 M €	+17.0%	26,8 M €	+4.7%	25,6 M €	+6.6%	24 M €	-13.8%	27,8 M €	+14.7%	24,2 M €	+8.4%	22,4 M €	+8.1%	20,7 M €	-20.2%	25,9 M €	-7.0%	27,9 M €	+3.5%	27 M €	-3.0%	27,8 M €	+27.6%	21,8 M €	+8.5%	20,1 M €	-12.6%	23 M €	-6.4%	24,5 M €
EBITDA	326,3 k €	-89.0%	3 M €	+45.1%	2,1 M €	+360%	-788,5 k €	-116%	4,9 M €	+190%	1,7 M €	+73.1%	970,5 k €	+229%	-752,1 k €	-219%	634,5 k €	-81.4%	3,4 M €	+138%	1,4 M €	-54.6%	3,1 M €	-45.8%	5,8 M €	+50.8%	3,9 M €	+45.7%	2,6 M €	-34.2%	4 M €	+9.7%	3,7 M €
Operating result	-219,7 k €	-109%	2,3 M €	+1224%	177,2 k €	+109%	-2 M €	-158%	3,5 M €	+309%	844,1 k €	+503%	-209,2 k €	+89.5%	-2 M €	-148%	-801,7 k €	-158%	1,4 M €	+1282%	100,7 k €	-95.7%	2,3 M €	-52.5%	4,9 M €	+69.0%	2,9 M €	+82.7%	1,6 M €	-44.9%	2,9 M €	+11.7%	2,6 M €
Net result	-475,9 k €	-125%	1,9 M €	+4745%	-40,6 k €	+98.0%	-2,1 M €	-161%	3,4 M €	+369%	725,1 k €	+345%	-296,2 k €	+85.9%	-2,1 M €	-137%	-886 k €	-201%	878,9 k €	+791%	98,7 k €	-97.0%	3,2 M €	+9.4%	3 M €	+78.4%	1,7 M €	+248%	-1,1 M €	-189%	1,3 M €	+25.8%	1 M €
Balance sheet
Equity	9,6 M €	-4.7%	10,1 M €	+23.0%	8,2 M €	-0.5%	8,2 M €	-20.0%	10,3 M €	+6.4%	9,7 M €	+8.1%	9 M €	-3.2%	9,2 M €	-18.5%	11,4 M €	-2.4%	11,6 M €	+8.2%	10,7 M €	+0.9%	10,7 M €	+43.8%	7,4 M €	+66.8%	4,4 M €	+59.8%	2,8 M €	-28.8%	3,9 M €	+47.8%	2,6 M €
Total assets	17,1 M €	-24.6%	22,7 M €	+16.6%	19,5 M €	+9.5%	17,8 M €	-19.9%	22,2 M €	+4.6%	21,2 M €	+1.9%	20,8 M €	+7.7%	19,3 M €	+0.3%	19,3 M €	-0.6%	19,4 M €	+9.5%	17,7 M €	+4.3%	17 M €	-3.1%	17,6 M €	+12.0%	15,7 M €	+7.7%	14,6 M €	-19.7%	18,1 M €	-1.6%	18,4 M €
Cash	1,9 k €	+50.2%	1,3 k €	-5.1%	1,4 k €	-11.7%	1,5 k €	-69.2%	5 k €	+8.5%	4,6 k €	+229%	1,4 k €		–		336,4 €	-97.6%	14,2 k €	-25.2%	19 k €	+22.3%	15,6 k €	-96.8%	484,8 k €	+25.3%	387 k €	+89.7%	204 k €	+36.6%	149,3 k €	+27.0%	117,6 k €
Debts	7,3 M €	-40.2%	12,2 M €	+17.6%	10,4 M €	+17.9%	8,8 M €	-17.4%	10,6 M €	-1.3%	10,8 M €	-5.1%	11,4 M €	+18.6%	9,6 M €	+24.4%	7,7 M €	-0.0%	7,7 M €	+11.1%	6,9 M €	+10.5%	6,3 M €	-37.1%	10 M €	-9.8%	11,1 M €	-4.5%	11,6 M €	-17.3%	14 M €	-10.0%	15,6 M €
Other
Workforce	120,4 ETP	-7.5%	130,2 ETP	-8.8%	142,8 ETP	-12.7%	163,6 ETP	+4.9%	155,9 ETP	-3.9%	162,2 ETP	-2.7%	166,7 ETP	-0.5%	167,6 ETP	-4.1%	174,8 ETP	-4.9%	183,9 ETP	-3.0%	189,5 ETP	+7.7%	175,9 ETP	+9.9%	160,1 ETP	+7.2%	149,4 ETP	-3.0%	154,0 ETP	-2.6%	158,1 ETP	-3.3%	163,5 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 · 2 active · 28 ended

Active mandates

Ombline Hamelryckx

Director · since 12 décembre 2024 · until 20 mai 2030

Active

Tanguy Vanderborght

Managing director · since 01 septembre 2022 · until 16 mai 2028

Active

Ended mandates

Severine Verschoore

Director · since 28 juin 2024 · until 12 décembre 2024

Ended

Guillaume Verbiest

Director · since 24 mai 2023 · until 28 juin 2024

Ended

Guillaume Verbiest

Director · since 24 mai 2023 · until 23 mai 2029

Ended

Tanguy Vanderborght

Managing director · since 01 septembre 2022 · until 17 mai 2028

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	08/06/2026	17/06/2025	13/06/2024	13/06/2023	01/06/2022	08/06/2021
General meeting	19/05/2026	28/05/2025	27/05/2024	16/05/2023	30/05/2022	18/05/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	19/05/2026	08/06/2026	Dutch	PDF
Full model	31/12/2024	28/05/2025	17/06/2025	Dutch	PDF
Full model	31/12/2023	27/05/2024	13/06/2024	Dutch	PDF
Full model	31/12/2022	16/05/2023	13/06/2023	Dutch	PDF
Full model	31/12/2021	30/05/2022	01/06/2022	Dutch	PDF
Full model	31/12/2020	18/05/2021	08/06/2021	Dutch	PDF
Full model	31/12/2019	19/05/2020	27/05/2020	Dutch	PDF
Full model	31/12/2018	21/05/2019	19/06/2019	Dutch	PDF
Full model	31/12/2017	15/05/2018	17/05/2018	Dutch	PDF
Full model	31/12/2016	16/05/2017	12/06/2017	Dutch	PDF
Full model	31/12/2015	17/05/2016	02/06/2016	Dutch	PDF
Full model	31/12/2014	19/05/2015	10/06/2015	Dutch	PDF
Full model	31/12/2013	20/05/2014	22/05/2014	Dutch	PDF
Full model	31/12/2012	21/05/2013	28/05/2013	Dutch	PDF
Full model	31/12/2011	15/05/2012	01/06/2012	Dutch	PDF
Full model	31/12/2010	17/05/2011	16/06/2011	Dutch	PDF
Full model	31/12/2009	18/05/2010	15/06/2010	Dutch	PDF
Full model	31/12/2008	19/05/2009	27/05/2009	Dutch	PDF
Full model	31/12/2007	20/05/2008	09/06/2008	Dutch	PDF
Full model	31/12/2006	15/05/2007	08/06/2007	Dutch	PDF

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 · 2 active · 28 ended

Active mandates

Ombline Hamelryckx

Director · since 12 décembre 2024 · until 20 mai 2030

Active

Tanguy Vanderborght

Managing director · since 01 septembre 2022 · until 16 mai 2028

Active

Ended mandates

Severine Verschoore

Director · since 28 juin 2024 · until 12 décembre 2024

Ended

Guillaume Verbiest

Director · since 24 mai 2023 · until 28 juin 2024

Ended

Guillaume Verbiest

Director · since 24 mai 2023 · until 23 mai 2029

Ended

Tanguy Vanderborght

Managing director · since 01 septembre 2022 · until 17 mai 2028

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates20/06/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/01/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/07/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/06/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/07/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/04/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/12/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/07/2021
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

2025
Annual accounts 2025-475,9 k €↓
2024
Annual accounts 20241,9 M €↑
2023
Annual accounts 2023-40,6 k €↑
2022
Annual accounts 2022-2,1 M €↓
2021
Annual accounts 20213,4 M €↑
2019
Annual accounts 2019725,1 k €↑
2018
Annual accounts 2018-296,2 k €↑
2017
Annual accounts 2017-2,1 M €↓
2016
Annual accounts 2016-886 k €↓
2014
Annual accounts 2014878,9 k €↑
2013
Annual accounts 201398,7 k €↓
2012
Annual accounts 20123,2 M €↑
2011
Annual accounts 20113 M €↑
2010
Annual accounts 20101,7 M €↑
2009
Annual accounts 2009-1,1 M €↓
2008
Annual accounts 20081,3 M €↑
2007
Annual accounts 20071 M €
30/10/1970
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

MICROTHERM

Overview

What does MICROTHERM do?

Trend over 17 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline