ACTIVE

THERABEL IMMO

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Financial year 2025 · closed on 31/12/2025

Net result

-881,8 k €

-36.2% YoY

Revenue

396,3 k €

-12.8% YoY

Equity

15,6 M €

-5.4% YoY

Workforce

3,0 ETP

0.0% YoY

What does THERABEL IMMO do?

THERABEL IMMO is a Public limited company incorporated in 1986. Its registered office is in Forest. It employs on average 3,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0428.944.292

Incorporation

30/05/1986

Legal form

Public limited company

Registered office

Boulevard de l'Humanité 292
1190 Forest · BruxellesSee on map

Contributed capital

18 542 451,03 €

Latest accounts

31/12/2025

Average workforce

3,0 ETP

Joint committees (3)

Signals

Solid equityHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 13 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2010		2009		2008		2007
Income statement
Revenue	396,3 k €	-12.8%	454,5 k €	+28.0%	355 k €	-10.0%	394,5 k €	-64.8%	1,1 M €	+270%	302,9 k €	+13.8%	266,1 k €	+20.8%	220,4 k €	+24.5%	177 k €	-99.1%	19,9 M €	-5.0%	21 M €	+4.7%	20,1 M €	+5.7%	19 M €
EBITDA	-250,7 k €	-2173%	-11 k €	+95.5%	-243,5 k €	-88.0%	-129,5 k €	-123%	568,2 k €	+301%	-282,7 k €	+39.7%	-468,9 k €	-9.3%	-428,9 k €	-52.4%	-281,5 k €	-126%	1,1 M €	-45.3%	2 M €	+9.1%	1,8 M €	-40.7%	3,1 M €
Operating result	-834,2 k €	-41.0%	-591,6 k €	+24.8%	-786,4 k €	-36.4%	-576,6 k €	-396%	194,6 k €	+127%	-721,6 k €	+16.8%	-866,9 k €	-12.6%	-769,9 k €	-42.2%	-541,4 k €	-166%	820,8 k €	-52.9%	1,7 M €	+3.8%	1,7 M €	-40.5%	2,8 M €
Net result	-881,8 k €	-36.2%	-647,4 k €	+20.4%	-813,2 k €	-39.6%	-582,6 k €	-437%	172,7 k €	+122%	-798,7 k €	+16.1%	-952,3 k €	-13.0%	-842,8 k €	-33.9%	-629,7 k €	-242%	443 k €	-58.3%	1,1 M €	+4.2%	1 M €	-46.1%	1,9 M €
Balance sheet
Equity	15,6 M €	-5.4%	16,5 M €	-3.8%	17,1 M €	-4.5%	17,9 M €	-3.1%	18,5 M €	+0.9%	18,3 M €	+175%	6,7 M €	-12.5%	7,6 M €	-10.0%	8,5 M €	+62.0%	5,2 M €	+9.3%	4,8 M €	-8.4%	5,2 M €	+24.2%	4,2 M €
Total assets	18,4 M €	+1.9%	18,1 M €	-3.0%	18,6 M €	+3.3%	18 M €	-5.0%	19 M €	-10.4%	21,2 M €	+48.8%	14,2 M €	+10.8%	12,8 M €	+18.2%	10,9 M €	-31.6%	15,9 M €	+13.4%	14 M €	-1.0%	14,1 M €	+0.9%	14 M €
Cash	73 k €	+23.9%	58,9 k €	-43.2%	103,7 k €	-56.6%	239,1 k €	-54.0%	519,9 k €	-80.2%	2,6 M €	+1027%	232,6 k €	+113%	109,1 k €	-93.8%	1,8 M €	+3017%	56,3 k €	-97.7%	2,5 M €	+891%	250,6 k €	-92.5%	3,3 M €
Debts	2,7 M €	+72.3%	1,6 M €	+10.8%	1,4 M €	+2174%	62,2 k €	-77.7%	279,1 k €	-90.1%	2,8 M €	-62.6%	7,5 M €	+44.9%	5,2 M €	+118%	2,4 M €	-77.5%	10,6 M €	+15.5%	9,2 M €	+3.6%	8,9 M €	-9.2%	9,8 M €
Other
Workforce	3,0 ETP	0.0%	3,0 ETP	0.0%	3,0 ETP	0.0%	3,0 ETP	-9.1%	3,3 ETP	-43.1%	5,8 ETP	-4.9%	6,1 ETP	+1.7%	6,0 ETP	+46.3%	4,1 ETP	-2.4%	4,2 ETP	-8.7%	4,6 ETP	+27.8%	3,6 ETP	+56.5%	2,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 16 ended

Active mandates

BAWIP Consultants

Director · since 01 juin 2025 · until 28 mai 2027 · 0633.845.609

Represented by Philippe Burtonboy

Active

HEALTHCARE EXPERT CONSULTING

Managing director · since 01 juin 2025 · until 28 mai 2027 · 0828.040.005

Represented by Laurent KIRSCH

Active

Ended mandates

BAWIP Consultants

Director · since 29 mai 2021 · until 31 mai 2024 · 0633.845.609

Represented by Philippe Burtonboy

Ended

BAWIP Consultants

Director · since 29 mai 2021 · until 31 mai 2024 · 0633.845.609

Represented by Philippe Burtonboy

Ended

HEALTHCARE EXPERT CONSULTING

Managing director · since 29 mai 2021 · until 31 mai 2024 · 0828.040.005

Represented by Laurent KIRSCH

Ended

BAWIP Consultants

Director · since 29 mai 2020 · until 28 mai 2021 · 0633.845.609

Represented by Philippe Burtonboy

Ended

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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	10/06/2026	06/06/2025	22/07/2024	15/06/2023	07/06/2022	09/06/2021
General meeting	29/05/2026	30/05/2025	31/05/2024	26/05/2023	27/05/2022	28/05/2021
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	29/05/2026	10/06/2026	French	PDF
Full model	31/12/2024	30/05/2025	06/06/2025	French	PDF
Full model	31/12/2023	31/05/2024	22/07/2024	French	PDF
Full model	31/12/2022	26/05/2023	15/06/2023	French	PDF
Full model	31/12/2021	27/05/2022	07/06/2022	French	PDF
Full model	31/12/2020	28/05/2021	09/06/2021	French	PDF
Full model	31/12/2019	08/06/2020	15/06/2020	French	PDF
Full model	31/12/2018	31/05/2019	17/06/2019	French	PDF
Full model	31/12/2017	25/05/2018	27/06/2018	French	PDF
Full model	31/12/2016	26/05/2017	26/06/2017	French	PDF
Full model	31/12/2015	27/05/2016	20/06/2016	French	PDF
Full model	31/12/2014	29/05/2015	30/06/2015	French	PDF
Full model	31/12/2013	28/04/2014	27/05/2014	French	PDF
Full model	31/12/2012	31/05/2013	15/07/2013	French	PDF
Full model	31/12/2011	25/05/2012	19/06/2012	French	PDF
Full model	31/12/2010	27/05/2011	20/06/2011	French	PDF
Full model	31/12/2009	28/05/2010	01/06/2010	French	PDF
Full model	31/12/2008	29/05/2009	22/06/2009	French	PDF
Full model	31/12/2007	30/05/2008	19/06/2008	French	PDF
Full model	31/12/2006	25/05/2007	11/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 16 ended

Active mandates

BAWIP Consultants

Director · since 01 juin 2025 · until 28 mai 2027 · 0633.845.609

Represented by Philippe Burtonboy

Active

HEALTHCARE EXPERT CONSULTING

Managing director · since 01 juin 2025 · until 28 mai 2027 · 0828.040.005

Represented by Laurent KIRSCH

Active

Ended mandates

BAWIP Consultants

Director · since 29 mai 2021 · until 31 mai 2024 · 0633.845.609

Represented by Philippe Burtonboy

Ended

BAWIP Consultants

Director · since 29 mai 2021 · until 31 mai 2024 · 0633.845.609

Represented by Philippe Burtonboy

Ended

HEALTHCARE EXPERT CONSULTING

Managing director · since 29 mai 2021 · until 31 mai 2024 · 0828.040.005

Represented by Laurent KIRSCH

Ended

BAWIP Consultants

Director · since 29 mai 2020 · until 28 mai 2021 · 0633.845.609

Represented by Philippe Burtonboy

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates30/12/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates05/09/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates15/06/2022
DEMISSIONS, NOMINATIONS
PDF
Registered office11/04/2022
SIEGE SOCIAL
PDF
Mandates21/06/2021
DEMISSIONS, NOMINATIONS
PDF
Capital / shares15/03/2021
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates05/11/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates24/04/2020
DEMISSIONS, NOMINATIONS
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 2025-881,8 k €↓
2024
Annual accounts 2024-647,4 k €↑
2023
Annual accounts 2023-813,2 k €↓
2022
Annual accounts 2022-582,6 k €↓
2021
Annual accounts 2021172,7 k €↑
2020
Annual accounts 2020-798,7 k €↑
2019
Annual accounts 2019-952,3 k €↓
2018
Annual accounts 2018-842,8 k €↓
2017
Annual accounts 2017-629,7 k €↓
2010
Annual accounts 2010443 k €↓
2009
Annual accounts 20091,1 M €↑
2008
Annual accounts 20081 M €↓
2007
Annual accounts 20071,9 M €
30/05/1986
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

THERABEL IMMO

Overview

What does THERABEL IMMO do?

Trend over 13 financial years

Indicative valuation

Board of directors

Other companies at this address

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