THONARD
0428.180.962 · rovalta.com · 22/09/2026
ACTIVE
THONARD
Financial year 2025 · closed on 31/12/2025
Net result
6,6 k €
-74.1% YoY
Gross margin
142,4 k €
-4.8% YoY
Equity
310,1 k €
+2.2% YoY
Overview
What does THONARD do?
THONARD is a Public limited company incorporated in 1985. Its main activity is: Accounting, bookkeeping and auditing activities; tax consultancy. Its registered office is in Liège.
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0428.180.962
Incorporation
20/12/1985
Legal form
Public limited company
Registered office
Avenue Henri-Warnant 13
4020 Liège · WallonieSee on map
4020 Liège · WallonieSee on map
Contributed capital
62 000,00 €
Latest accounts
31/12/2025
Activities (NACE)
Joint committees (1)
- 218
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts
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Financials
Trend over 20 financial years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||||||||||||||||||||||||||||||||
| Gross margin | 142,4 k € | -4.8% | 149,6 k € | -15.8% | 177,8 k € | +13.3% | 156,9 k € | +28.0% | 122,6 k € | -10.5% | 137 k € | -19.3% | 169,8 k € | +0.9% | 168,3 k € | +5.4% | 159,8 k € | +3.8% | 154 k € | -9.7% | 170,6 k € | +23.2% | 138,5 k € | -3.1% | 142,9 k € | +19.9% | 119,2 k € | +6.1% | 112,4 k € | +13.1% | 99,4 k € | +6.2% | 93,5 k € | +33.2% | 70,2 k € | +3.9% | 67,6 k € | +7.8% | 62,7 k € |
| EBITDA | 43,2 k € | -21.6% | 55,1 k € | -34.8% | 84,4 k € | +17.4% | 71,9 k € | +38.9% | 51,8 k € | -13.7% | 60 k € | -2.4% | 61,5 k € | -2.0% | 62,7 k € | -2.0% | 64 k € | +26.6% | 50,6 k € | -17.3% | 61,1 k € | -2.2% | 62,5 k € | +26.9% | 49,3 k € | +42.5% | 34,6 k € | +22.7% | 28,2 k € | +24.6% | 22,6 k € | +3.7% | 21,8 k € | -5.7% | 23,1 k € | -9.7% | 25,6 k € | -8.6% | 28 k € |
| Operating result | 28,3 k € | -31.9% | 41,5 k € | -41.2% | 70,5 k € | +19.8% | 58,8 k € | +42.5% | 41,3 k € | -12.9% | 47,4 k € | +0.7% | 47,1 k € | -9.3% | 51,9 k € | +21.1% | 42,9 k € | +50.8% | 28,4 k € | -35.5% | 44,1 k € | -3.0% | 45,4 k € | +31.2% | 34,6 k € | +75.6% | 19,7 k € | +51.5% | 13 k € | +34.7% | 9,7 k € | +5.4% | 9,2 k € | -12.3% | 10,4 k € | -10.4% | 11,7 k € | +33.7% | 8,7 k € |
| Net result | 6,6 k € | -74.1% | 25,3 k € | -44.0% | 45,2 k € | +54.2% | 29,3 k € | +50.4% | 19,5 k € | -9.2% | 21,5 k € | -13.3% | 24,7 k € | -24.2% | 32,6 k € | +196% | 11 k € | -12.5% | 12,6 k € | -43.3% | 22,2 k € | +2.3% | 21,7 k € | +24.3% | 17,5 k € | +110% | 8,3 k € | +418% | 1,6 k € | -47.3% | 3,1 k € | +42.2% | 2,1 k € | -42.5% | 3,7 k € | -0.5% | 3,8 k € | +1998% | 179 € |
| Balance sheet | |||||||||||||||||||||||||||||||||||||||
| Equity | 310,1 k € | +2.2% | 303,6 k € | +9.1% | 278,3 k € | +19.4% | 233,1 k € | -2.3% | 238,6 k € | +8.9% | 219,1 k € | +10.9% | 197,6 k € | +14.3% | 172,9 k € | +23.3% | 140,3 k € | +8.5% | 129,2 k € | +10.8% | 116,6 k € | +23.5% | 94,4 k € | +29.9% | 72,7 k € | +31.7% | 55,2 k € | +17.8% | 46,9 k € | +3.6% | 45,3 k € | +7.2% | 42,2 k € | +5.4% | 40,1 k € | +10.3% | 36,3 k € | +11.5% | 32,6 k € |
| Total assets | 391,2 k € | +11.6% | 350,6 k € | +0.6% | 348,6 k € | +5.8% | 329,6 k € | +4.2% | 316,2 k € | +2.2% | 309,5 k € | +1.1% | 306,1 k € | +4.4% | 293,1 k € | -6.0% | 311,8 k € | +29.4% | 241 k € | -9.1% | 265,2 k € | +15.9% | 228,9 k € | -1.4% | 232,3 k € | +10.5% | 210,2 k € | -5.2% | 221,7 k € | +43.1% | 154,9 k € | +46.7% | 105,6 k € | +12.0% | 94,2 k € | +8.3% | 87 k € | -0.5% | 87,5 k € |
| Cash | 19,3 k € | -0.5% | 19,4 k € | -31.9% | 28,5 k € | +8.0% | 26,4 k € | +25.3% | 21,1 k € | -50.1% | 42,2 k € | +65.6% | 25,5 k € | -26.6% | 34,7 k € | +1.3% | 34,3 k € | +58.5% | 21,6 k € | +16.0% | 18,6 k € | +46.5% | 12,7 k € | -14.7% | 14,9 k € | +712% | 1,8 k € | -91.7% | 22,2 k € | +359% | 4,8 k € | +22.2% | 4 k € | -58.3% | 9,5 k € | -60.0% | 23,7 k € | +65.1% | 14,4 k € |
| Debts | 80,4 k € | +70.9% | 47 k € | -33.2% | 70,4 k € | -27.1% | 96,5 k € | +24.7% | 77,4 k € | -14.3% | 90,4 k € | -16.7% | 108,5 k € | -9.8% | 120,2 k € | -29.9% | 171,6 k € | +53.4% | 111,8 k € | -24.7% | 148,6 k € | +10.7% | 134,3 k € | -15.9% | 159,6 k € | +7.7% | 148,1 k € | -15.2% | 174,7 k € | +59.4% | 109,6 k € | +75.5% | 62,5 k € | +16.7% | 53,6 k € | +5.6% | 50,7 k € | -7.7% | 54,9 k € |
| Other | |||||||||||||||||||||||||||||||||||||||
| Workforce | – | – | – | – | – | – | – | – | – | – | 2,8 ETP | +27.3% | 2,2 ETP | +10.0% | 2,0 ETP | 0.0% | 2,0 ETP | 0.0% | 2,0 ETP | +5.3% | 1,9 ETP | +5.6% | 1,8 ETP | +50.0% | 1,2 ETP | +20.0% | 1,0 ETP | +25.0% | 0,8 ETP | ||||||||||
Estimate
Indicative valuation
As an indication, this company is worth
between 250 k€ and 500 k€
See the valuationGovernance
Board of directors
Seen on filing of 31/12/2025 · 2 active · 11 ended
Active mandates
Doris EPTING
ActiveJean-Marie THONARD
ActiveEnded mandates
Doris EPTING
EndedJean-Marie THONARD
EndedDoris EPTING
EndedJean-Marie THONARD
EndedAt this address
Other companies at this address
| Company | CBE no. |
|---|---|
CHRISNET● Active | 0460.491.563 |
THONARD JEAN MARTIAL● Active | 0463.862.512 |
Financials
Annual accounts
Full financial information
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Type of account | Micro model | Micro model | Micro model | Micro model | Micro model | Micro 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 | 08/07/2026 | 18/08/2025 | 22/08/2024 | 22/08/2023 | 22/08/2022 | 19/08/2021 |
| General meeting | 25/06/2026 | 26/06/2025 | 27/06/2024 | 22/06/2023 | 23/06/2022 | 24/06/2021 |
| 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
Looking for more information about this company?
Try for 7 daysFilings
Annual accounts filings
20 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Micro model | 31/12/2025 | 25/06/2026 | 08/07/2026 | French | |
| Micro model | 31/12/2024 | 26/06/2025 | 18/08/2025 | French | |
| Micro model | 31/12/2023 | 27/06/2024 | 22/08/2024 | French | |
| Micro model | 31/12/2022 | 22/06/2023 | 22/08/2023 | French | |
| Micro model | 31/12/2021 | 23/06/2022 | 22/08/2022 | French | |
| Micro model | 31/12/2020 | 24/06/2021 | 19/08/2021 | French | |
| Micro model | 31/12/2019 | 25/06/2020 | 25/09/2020 | French | |
| Micro model | 31/12/2018 | 27/06/2019 | 02/07/2019 | French | |
| Micro model | 31/12/2017 | 28/06/2018 | 27/08/2018 | French | |
| Micro model | 31/12/2016 | 22/06/2017 | 30/08/2017 | French | |
| Abridged model | 31/12/2015 | 23/06/2016 | 29/08/2016 | French | |
| Abridged model | 31/12/2014 | 25/06/2015 | 31/07/2015 | French | |
| Abridged model | 31/12/2013 | 06/06/2014 | 10/06/2014 | French | |
| Abridged model | 31/12/2012 | 27/06/2013 | 24/07/2013 | French | |
| Abridged model | 31/12/2011 | 28/06/2012 | 04/07/2012 | French | |
| Abridged model | 31/12/2010 | 25/06/2011 | 28/06/2011 | French | |
| Abridged model | 31/12/2009 | 15/06/2010 | 17/06/2010 | French | |
| Abridged model | 31/12/2008 | 22/06/2009 | 23/06/2009 | French | |
| Abridged model | 31/12/2007 | 15/06/2008 | 28/06/2008 | French | |
| Abridged model | 31/12/2006 | 30/06/2007 | 25/07/2007 | French |
Valuation
Estimate
Indicative valuation
Order of magnitude
As an indication, this company is worth
between 250 k€ and 500 k€
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.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Governance
Board of directors
Seen on filing of 31/12/2025 · 2 active · 11 ended
Active mandates
Doris EPTING
ActiveJean-Marie THONARD
ActiveEnded mandates
Doris EPTING
EndedJean-Marie THONARD
EndedDoris EPTING
EndedJean-Marie THONARD
EndedShareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
Source: Belgian Official Gazette
Similar companies
Competition
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 20256,6 k €↓
- 2024Annual accounts 202425,3 k €↓
- 2023Annual accounts 202345,2 k €↑
- 2022Annual accounts 202229,3 k €↑
- 2021Annual accounts 202119,5 k €↓
- 2020Annual accounts 202021,5 k €↓
- 2019Annual accounts 201924,7 k €↓
- 2018Annual accounts 201832,6 k €↑
- 2017Annual accounts 201711 k €↓
- 2016Annual accounts 201612,6 k €↓
- 2015Annual accounts 201522,2 k €↑
- 2014Annual accounts 201421,7 k €↑
- 2013Annual accounts 201317,5 k €↑
- 2012Annual accounts 20128,3 k €↑
- 2011Annual accounts 20111,6 k €↓
- 2010Annual accounts 20103,1 k €↑
- 2009Annual accounts 20092,1 k €↓
- 2008Annual accounts 20083,7 k €↓
- 2007Annual accounts 20073,8 k €↑
- 2006Annual accounts 2006179 €
- 20/12/1985IncorporationPublic limited company