ACTIVE

THULE

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Financial year 2025 · Closed on 31/12/2025

Net result22,5 M €+2,3 %over 1 year
Revenue158,6 M €+4,7 %over 1 year
Equity50,2 M €+1,1 %over 1 year
Workforce363,2 ETP-0,5 %over 1 year

Identity

Source · BCE/KBO

THULE is a Public limited company incorporated in 1977. Its registered office is in Menen. It employs on average 363,2 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0416.957.963
Incorporation
25/02/1977
Legal form
Public limited company
Registered office
Kortrijkstraat 343
8930 Menen · FlandreSee on map
Contributed capital
38 250 000,00 €
Latest accounts
31/12/2025
Average workforce
363,2 ETP
Joint committees (2)
  • 109
  • 215
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 40 filings

Trend over 6 financial years

20252024202320222021
Income statement
Revenue158,6 M €151,5 M €156,4 M €176,6 M €150,6 M €
EBITDA33,7 M €30,3 M €31,6 M €30,9 M €27,9 M €
Operating result31,3 M €30 M €27,2 M €29,8 M €27,5 M €
Net result22,5 M €22 M €20,2 M €21,3 M €18,9 M €
Balance sheet
Equity50,2 M €49,6 M €47,6 M €47,4 M €46,1 M €
Total assets96,5 M €94,5 M €88,9 M €93,7 M €84,9 M €
Cash46,5 M €43,3 M €33,4 M €28,9 M €30,3 M €
Debts45,7 M €44 M €40,4 M €45,5 M €37,5 M €
Other
Workforce363,2 ETP365,2 ETP371,2 ETP343,0 ETP287,4 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 250 M€ and 500 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 36 ended

Active mandates

Claes Mattias Ankarberg

Director · since 30 mai 2025 · until 30 mai 2031

Active
Filip Van der Linden

Managing director · since 30 mai 2025 · until 30 mai 2031

Active
Toby Lawton

Director · since 30 mai 2025 · until 30 mai 2031

Active

Ended mandates

Toby Lawton

Director · since 15 décembre 2023 · until 26 mai 2028

Ended
Claes Mattias Ankarberg

Director · since 30 juin 2023 · until 26 mai 2028

Ended
Filip Van der Linden

Managing director · since 17 décembre 2020 · until 30 mai 2025

Ended
Jan Magnus Welander

Director · since 17 décembre 2020 · until 30 juin 2023

Ended

Full financial information

Source · NBB
202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelConsolidated accounts
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 date16/06/202620/06/202505/06/202414/06/202317/06/202229/06/2021
General meeting29/05/202630/05/202531/05/202426/05/202327/05/202228/05/2021
Currency of the financial yearEUREUREUREUREURSEK
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 40 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202529/05/202616/06/2026DutchPDF
Full model31/12/202430/05/202520/06/2025DutchPDF
Consolidated accounts31/12/202430/05/202527/06/2025DutchPDF
Full model31/12/202331/05/202405/06/2024DutchPDF
Consolidated accounts31/12/202331/05/202418/06/2024DutchPDF
Full model31/12/202226/05/202314/06/2023DutchPDF
Consolidated accounts31/12/202226/05/202315/06/2023DutchPDF
Full model31/12/202127/05/202217/06/2022DutchPDF
Consolidated accounts31/12/202127/05/202223/08/2022DutchPDF
Full model31/12/202028/05/202125/06/2021DutchPDF
Consolidated accounts31/12/202028/05/202129/06/2021DutchPDF
Full modelCorrection31/12/201929/05/202014/10/2020DutchPDF
Full model31/12/201929/05/202009/06/2020DutchPDF
Consolidated accounts31/12/201929/05/202026/06/2020DutchPDF
Full model31/12/201831/05/201911/06/2019DutchPDF
Consolidated accounts31/12/201831/05/201926/06/2019DutchPDF
Full model31/12/201725/05/201820/06/2018DutchPDF
Consolidated accounts31/12/201725/05/201822/06/2018DutchPDF
Full model31/12/201626/05/201701/06/2017DutchPDF
Consolidated accounts31/12/201626/05/201713/07/2017DutchPDF
Full model31/12/201527/05/201617/06/2016DutchPDF
Consolidated accounts31/12/201527/05/201630/06/2016DutchPDF
Full model31/12/201419/06/201524/06/2015DutchPDF
Consolidated accounts31/12/201419/06/201508/07/2015DutchPDF
Full model31/12/201330/05/201410/07/2014DutchPDF
Consolidated accounts31/12/201330/05/201411/07/2014DutchPDF
Full model31/12/201231/05/201327/06/2013DutchPDF
Consolidated accounts31/12/201231/05/201328/06/2013DutchPDF
Full model31/12/201125/05/201222/06/2012DutchPDF
Consolidated accounts31/12/201125/05/201222/08/2012DutchPDF
Full model31/12/201027/05/201127/06/2011DutchPDF
Consolidated accounts31/12/201027/05/201128/06/2011DutchPDF
Full model31/12/200928/05/201029/06/2010DutchPDF
Consolidated accounts31/12/200928/05/201029/06/2010DutchPDF
Full model31/12/200829/05/200902/07/2009DutchPDF
Consolidated accounts31/12/200829/05/200930/06/2009DutchPDF
Full model31/12/200730/05/200824/06/2008DutchPDF
Consolidated accounts31/12/200730/05/200830/06/2008DutchPDF
Full model31/12/200625/05/200720/06/2007DutchPDF
Consolidated accounts31/12/200601/01/999910/07/2007DutchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 M€ and 500 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.

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 36 ended

Active mandates

Claes Mattias Ankarberg

Director · since 30 mai 2025 · until 30 mai 2031

Active
Filip Van der Linden

Managing director · since 30 mai 2025 · until 30 mai 2031

Active
Toby Lawton

Director · since 30 mai 2025 · until 30 mai 2031

Active

Ended mandates

Toby Lawton

Director · since 15 décembre 2023 · until 26 mai 2028

Ended
Claes Mattias Ankarberg

Director · since 30 juin 2023 · until 26 mai 2028

Ended
Filip Van der Linden

Managing director · since 17 décembre 2020 · until 30 mai 2025

Ended
Jan Magnus Welander

Director · since 17 décembre 2020 · until 30 juin 2023

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates09/07/2026
    Herbenoeming commissaris
    PDF
  • Mandates15/07/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates25/09/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates27/06/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates06/06/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates11/08/2023
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates19/01/2021
    DIVERSEN - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
    PDF
  • Capital / shares30/10/2020
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - DIVERSEN - KAPITAAL - AANDELEN
    PDF

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 202522,5 M €↑
  2. 30/05/2025
    reconductionFilip Van der Linden — bestuurder
  3. 30/05/2025
    reconductionClaes Mattias Ankarberg — bestuurder
  4. 30/05/2025
    reconductionToby Lawton — bestuurder
  5. 2024
    Annual accounts 202422 M €↑
  6. 12/06/2024
    nominationSteven Van Bael — commissaris
  7. 11/01/2024
    reconductionPWC BEDRIJFSREVISOREN — commissaris
  8. 11/01/2024
    nominationLien Winne — vaste vertegenwoordiger
  9. 2023
    Annual accounts 202320,2 M €↓
  10. 15/12/2023
    nominationToby Lawton — bestuurder
  11. 30/06/2023
    nominationClaes Mattias Ankarberg — bestuurder
  12. 2022
    Annual accounts 202221,3 M €↑
  13. 2021
    Annual accounts 202118,9 M €↑
  14. 2006
    Annual accounts 20063,8 M €
  15. 25/02/1977
    IncorporationPublic limited company