ACTIVE

TER MUDE

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Financial year 2025 · closed on 31/12/2025

Net result

46,8 k €

+40.7% YoY

Gross margin

85,1 k €

-6.0% YoY

Equity

437,4 k €

+12.0% YoY

What does TER MUDE do?

TER MUDE is a Public limited company incorporated in 1988. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Knokke-Heist.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0434.164.872

Incorporation

04/05/1988

Legal form

Public limited company

Registered office

Tramweg 17
8300 Knokke-Heist · FlandreSee on map

Contributed capital

62 500,00 €

Latest accounts

31/12/2025

Activities (NACE)

68203Rental and operating of own or leased real estate· main 68203Rental and operating of own or leased real estate 68204Rental and operating of own or leased real estate 68204Rental and operating of own or leased real estate

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	85,1 k €	-6.0%	90,5 k €	+4.0%	87 k €	+1148%	-8,3 k €	-101%	564,1 k €	+108%	271,5 k €	-63.3%	739,3 k €	-1.0%	746,7 k €	+2.2%	730,4 k €	-16.8%	878,1 k €	+10.8%	792,3 k €	+4.3%	759,4 k €	-0.2%	760,8 k €	-3.7%	790,1 k €	-6.6%	845,8 k €	-7.2%	911,2 k €	+10.9%	821,6 k €	+12.9%	727,8 k €
EBITDA	71,4 k €	-4.1%	74,4 k €	-1.7%	75,7 k €	+470%	-20,5 k €	-110%	212,3 k €	+1820%	-12,3 k €	-112%	100,4 k €	+12.9%	88,9 k €	+3182%	-2,9 k €	-103%	111,5 k €	-21.6%	142,2 k €	+7.1%	132,8 k €	-13.1%	152,9 k €	-14.6%	179,1 k €	-25.2%	239,3 k €	-24.8%	318,2 k €	+9.1%	291,6 k €	+31.4%	221,9 k €
Operating result	61,4 k €	-4.3%	64,2 k €	+0.4%	63,9 k €	+291%	-33,4 k €	-117%	196 k €	+672%	-34,3 k €	-149%	70,6 k €	+23.6%	57,1 k €	+229%	-44,2 k €	-258%	28,1 k €	-44.8%	50,9 k €	+112%	24 k €	+25.9%	19 k €	-57.9%	45,2 k €	-54.8%	100 k €	-40.5%	168,2 k €	+51.0%	111,4 k €	+121%	50,3 k €
Net result	46,8 k €	+40.7%	33,3 k €	-43.7%	59,1 k €	+261%	-36,6 k €	-119%	191,6 k €	+543%	-43,3 k €	-191%	47,6 k €	+1.3%	46,9 k €	+181%	-57,7 k €	-559%	12,6 k €	-48.6%	24,5 k €	+338%	5,6 k €	+171%	-7,8 k €	-246%	5,4 k €	-89.4%	50,8 k €	-58.9%	123,5 k €	+113%	57,9 k €	+2155%	-2,8 k €
Balance sheet
Equity	437,4 k €	+12.0%	390,6 k €	+9.3%	357,3 k €	-1.1%	361,2 k €	-9.2%	397,8 k €	+92.9%	206,2 k €	-17.3%	249,5 k €	+23.5%	201,9 k €	-11.8%	228,9 k €	-20.1%	286,5 k €	+4.6%	273,9 k €	+9.8%	249,5 k €	+2.3%	243,9 k €	-3.1%	251,7 k €	+2.2%	246,3 k €	+26.0%	195,5 k €	+172%	72 k €	+409%	14,1 k €
Total assets	456,2 k €	+9.8%	415,6 k €	-8.7%	455,1 k €	+3.3%	440,7 k €	-22.6%	569,3 k €	+6.1%	536,5 k €	-11.9%	609,3 k €	+8.1%	563,4 k €	-6.6%	603 k €	-14.1%	702,4 k €	-6.5%	751,2 k €	+4.0%	722,4 k €	-8.7%	791,2 k €	-13.4%	914,2 k €	-6.6%	978,3 k €	-6.8%	1,1 M €	+0.2%	1 M €	-2.9%	1,1 M €
Cash	19,3 k €	-77.5%	85,7 k €	+14.6%	74,8 k €	-14.9%	87,9 k €	-48.7%	171,3 k €	+383%	35,5 k €	-61.3%	91,7 k €	+131%	39,7 k €	-35.3%	61,3 k €	-36.7%	96,9 k €	+65.6%	58,5 k €	+35.1%	43,3 k €	+31.3%	33 k €	-53.1%	70,3 k €	+60.5%	43,8 k €	+18.5%	37 k €	-46.6%	69,3 k €	+227%	21,2 k €
Debts	14,7 k €	-29.9%	21 k €	-77.6%	93,8 k €	+31.2%	71,5 k €	-58.3%	171,4 k €	-48.1%	330,3 k €	-8.2%	359,8 k €	-0.5%	361,4 k €	-3.4%	374,2 k €	-10.0%	415,9 k €	-12.9%	477,3 k €	+0.9%	472,9 k €	-13.6%	547,3 k €	-16.9%	658,5 k €	-10.0%	732 k €	-13.6%	847,2 k €	-12.4%	967,2 k €	-9.2%	1,1 M €
Other
Workforce	–		–		–		–		20,5 ETP	0.0%	20,5 ETP	-35.9%	32,0 ETP	+0.9%	31,7 ETP	-9.9%	35,2 ETP	-3.3%	36,4 ETP	+11.3%	32,7 ETP	-5.5%	34,6 ETP	-6.5%	37,0 ETP	-0.3%	37,1 ETP	+7.2%	34,6 ETP	+2.4%	33,8 ETP	+4.3%	32,4 ETP	+7.6%	30,1 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 28 ended

Active mandates

Francis Van Den Broucke

Managing director · since 12 juin 2023

Active

Marie-France Maene

Managing director · since 12 juin 2023

Active

Ended mandates

Francis Van Den Broucke

Chairman of the board of directors · since 01 janvier 2023 · until 08 mai 2029

Ended

Marie-France Maene

Managing director · since 01 janvier 2023 · until 08 mai 2029

Ended

Francis Van Den Broucke

Chairman of the board of directors · since 01 janvier 2021 · until 09 mai 2023

Ended

Marie-France Maene

Managing director · since 01 janvier 2021 · until 09 mai 2023

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	30/07/2026	31/08/2025	12/09/2024	06/07/2023	29/09/2022	31/05/2021
General meeting	12/06/2026	30/06/2025	03/06/2024	12/06/2023	28/06/2022	11/05/2021
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
Abridged model	31/12/2025	12/06/2026	30/07/2026	Dutch	PDF
Abridged model	31/12/2024	30/06/2025	31/08/2025	Dutch	PDF
Abridged model	31/12/2023	03/06/2024	12/09/2024	Dutch	PDF
Abridged model	31/12/2022	12/06/2023	06/07/2023	Dutch	PDF
Abridged model	31/12/2021	28/06/2022	29/09/2022	Dutch	PDF
Abridged model	31/12/2020	11/05/2021	31/05/2021	Dutch	PDF
Abridged model	31/12/2019	15/06/2020	23/07/2020	Dutch	PDF
Abridged model	31/12/2018	14/05/2019	03/06/2019	Dutch	PDF
Abridged model	31/12/2017	30/06/2018	21/08/2018	Dutch	PDF
Abridged model	31/12/2016	27/06/2017	18/07/2017	Dutch	PDF
Abridged model	31/12/2015	10/05/2016	16/08/2016	Dutch	PDF
Abridged model	31/12/2014	12/05/2015	28/07/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	22/08/2014	Dutch	PDF
Abridged model	31/12/2012	14/05/2013	05/08/2013	Dutch	PDF
Abridged model	31/12/2011	08/05/2012	16/08/2012	Dutch	PDF
Abridged model	31/12/2010	10/05/2011	21/06/2011	Dutch	PDF
Abridged model	31/12/2009	11/05/2010	12/08/2010	Dutch	PDF
Abridged model	31/12/2008	12/05/2009	11/08/2009	Dutch	PDF
Abridged model	31/12/2007	13/06/2008	27/06/2008	Dutch	PDF
Abridged model	31/12/2006	08/05/2007	10/08/2007	Dutch	PDF

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.

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

Francis Van Den Broucke

Managing director · since 12 juin 2023

Active

Marie-France Maene

Managing director · since 12 juin 2023

Active

Ended mandates

Francis Van Den Broucke

Chairman of the board of directors · since 01 janvier 2023 · until 08 mai 2029

Ended

Marie-France Maene

Managing director · since 01 janvier 2023 · until 08 mai 2029

Ended

Francis Van Den Broucke

Chairman of the board of directors · since 01 janvier 2021 · until 09 mai 2023

Ended

Marie-France Maene

Managing director · since 01 janvier 2021 · until 09 mai 2023

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates03/10/2024
ONTSLAGEN - BENOEMINGEN
PDF
Registered office23/06/2022
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares11/01/2018
KAPITAAL - AANDELEN
PDF
Mandates01/08/2017
ONTSLAGEN - BENOEMINGEN
PDF
Other21/02/2012
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates14/08/2007
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/04/2004
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 202546,8 k €↑
2024
Annual accounts 202433,3 k €↓
2023
Annual accounts 202359,1 k €↑
2022
Annual accounts 2022-36,6 k €↓
2021
Annual accounts 2021191,6 k €↑
2020
Annual accounts 2020-43,3 k €↓
2019
Annual accounts 201947,6 k €↑
2018
Annual accounts 201846,9 k €↑
2017
Annual accounts 2017-57,7 k €↓
2016
Annual accounts 201612,6 k €↓
2015
Annual accounts 201524,5 k €↑
2014
Annual accounts 20145,6 k €↑
2013
Annual accounts 2013-7,8 k €↓
2012
Annual accounts 20125,4 k €↓
2011
Annual accounts 201150,8 k €↓
2010
Annual accounts 2010123,5 k €↑
2009
Annual accounts 200957,9 k €↑
2008
Annual accounts 2008-2,8 k €
04/05/1988
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

TER MUDE

Overview

What does TER MUDE do?

Trend over 18 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