ACTIVE

THIELMAN

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Financial year 2025 · closed on 31/12/2025

Net result

415,3 k €

+119.2% YoY

Gross margin

836,2 k €

+41.3% YoY

Equity

2,1 M €

+12.0% YoY

Workforce

0,0 ETP

What does THIELMAN do?

THIELMAN is a Private limited company incorporated in 1989. Its main activity is: Growing of vegetables and melons, roots and tubers. Its registered office is in Sint-Gillis-Waas.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0437.525.923

Incorporation

25/05/1989

Legal form

Private limited company

Registered office

Margrietstraat(MD) 127
9170 Sint-Gillis-Waas · FlandreSee on map

Contributed capital

792 960,07 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Activities (NACE)

01130Growing of vegetables and melons, roots and tubers· main 01130Growing of vegetables and melons, roots and tubers 51310Air transport 01110Growing of cereals (except rice), leguminous crops and oil seeds 01110Growing of cereals (except rice), leguminous crops and oil seeds 46319Wholesale of fruit and vegetables+4

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

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	836,2 k €	+41.3%	591,9 k €	+8.9%	543,7 k €	+16.0%	468,8 k €	-28.1%	652,2 k €	+73.6%	375,8 k €	-19.5%	467 k €	+35.6%	344,3 k €	-2.7%	353,7 k €	+70.8%	207,1 k €	-43.0%	363,1 k €	+194%	123,3 k €	-2.5%	126,5 k €	-9.9%	140,4 k €	+80.2%	77,9 k €	-41.3%	132,6 k €	+39.7%	94,9 k €	+17.7%	80,7 k €	-20.7%	101,7 k €	+4.8%	97,1 k €
EBITDA	816,7 k €	+39.5%	585,4 k €	+9.6%	534 k €	+15.3%	463,2 k €	-26.7%	632 k €	+70.7%	370,2 k €	-19.9%	462 k €	+36.4%	338,7 k €	-2.6%	347,9 k €	+70.5%	204,1 k €	-43.2%	359,1 k €	+196%	121,2 k €	-2.9%	124,8 k €	-10.3%	139,2 k €	+89.0%	73,6 k €	-42.4%	127,8 k €	+41.0%	90,6 k €	+17.4%	77,2 k €	-21.3%	98,1 k €	+4.6%	93,7 k €
Operating result	556,1 k €	+97.8%	281,2 k €	+21.9%	230,7 k €	+35.8%	169,9 k €	-55.9%	385 k €	+287%	99,5 k €	-36.8%	157,5 k €	+512%	25,7 k €	-28.2%	35,8 k €	+141%	-87,3 k €	-166%	132,1 k €	+219%	41,4 k €	-40.0%	69 k €	-21.6%	88,1 k €	+87.3%	47 k €	-56.6%	108,5 k €	+109%	51,9 k €	+64.2%	31,6 k €	-40.8%	53,4 k €	+1.6%	52,6 k €
Net result	415,3 k €	+119%	189,5 k €	+29.2%	146,6 k €	+41.9%	103,3 k €	-64.8%	293,3 k €	+221%	91,2 k €	-14.9%	107,2 k €	+487%	18,3 k €	-34.3%	27,8 k €	+128%	-99 k €	-227%	78,2 k €	+136%	33,1 k €	+17.8%	28,1 k €	-53.6%	60,6 k €	+119%	27,7 k €	-57.3%	64,9 k €	+122%	29,3 k €	+16.6%	25,1 k €	-20.6%	31,6 k €	-18.0%	38,5 k €
Balance sheet
Equity	2,1 M €	+12.0%	1,9 M €	+11.3%	1,7 M €	+9.6%	1,5 M €	+7.3%	1,4 M €	+25.9%	1,1 M €	+8.8%	1 M €	+11.3%	934,4 k €	+2.0%	916,1 k €	+3.1%	888,3 k €	-10.0%	987,3 k €	+372%	209,1 k €	+5.9%	197,5 k €	+4.3%	189,4 k €	+2.0%	185,7 k €	+17.5%	158 k €	+69.6%	93,2 k €	+45.8%	63,9 k €	+0.1%	63,8 k €	+2.5%	62,2 k €
Total assets	2,6 M €	+3.6%	2,5 M €	-7.0%	2,7 M €	-2.9%	2,7 M €	+3.1%	2,7 M €	+12.9%	2,4 M €	-13.4%	2,7 M €	+7.4%	2,5 M €	-2.1%	2,6 M €	-10.3%	2,9 M €	+7.4%	2,7 M €	+175%	981,7 k €	+7.5%	913,5 k €	+1.6%	899 k €	+106%	437,1 k €	+3.0%	424,2 k €	+69.2%	250,8 k €	-5.4%	265 k €	+3.7%	255,5 k €	-8.2%	278,4 k €
Cash	67,7 k €	-20.3%	85 k €	-58.1%	202,9 k €	-62.3%	537,9 k €	+424%	102,7 k €	-57.0%	238,9 k €	+10.8%	215,7 k €	-33.4%	324,1 k €	+11451%	2,8 k €	-95.3%	60 k €	-7.2%	64,7 k €	-75.5%	264,2 k €	-20.6%	332,8 k €	+379%	69,4 k €	-65.5%	201,5 k €	+24.2%	162,2 k €	+106%	78,7 k €	+108%	37,8 k €	+74.3%	21,7 k €	+85.2%	11,7 k €
Debts	428,7 k €	-25.3%	573,6 k €	-39.5%	947,7 k €	-18.2%	1,2 M €	-2.9%	1,2 M €	-3.2%	1,2 M €	-25.4%	1,7 M €	+2.7%	1,6 M €	-4.3%	1,7 M €	-16.2%	2 M €	+19.7%	1,7 M €	+123%	750,5 k €	+9.4%	686,1 k €	-2.3%	702,5 k €	+181%	249,6 k €	+2.2%	244,2 k €	+59.9%	152,7 k €	-23.7%	200,2 k €	+4.4%	191,6 k €	-5.0%	201,7 k €
Other
Workforce	0,0 ETP		0,0 ETP		0,0 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 · 1 active · 6 ended

Active mandates

Kris Thielman

Director

Active

Ended mandates

Kris Thielman

Director · since 31 janvier 2022

Ended

Kris Thielman

Director · since 19 octobre 2007

Ended

Kris Thielman

Manager · since 19 octobre 2007

Ended

An Van Remoortel

Manager · since 17 février 1995 · until 25 novembre 2014

Ended

At this address

Other companies at this address

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KFK-Build● Active	0680.509.339
KFK-Projects● Active	0673.842.172

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	22/07/2026	17/06/2025	19/08/2024	19/07/2023	25/08/2022	23/09/2021
General meeting	30/06/2026	19/05/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021
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

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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	30/06/2026	22/07/2026	Dutch	PDF
Abridged model	31/12/2024	19/05/2025	17/06/2025	Dutch	PDF
Abridged model	31/12/2023	30/06/2024	19/08/2024	Dutch	PDF
Abridged model	31/12/2022	30/06/2023	19/07/2023	Dutch	PDF
Abridged model	31/12/2021	30/06/2022	25/08/2022	Dutch	PDF
Abridged model	31/12/2020	30/06/2021	23/09/2021	Dutch	PDF
Abridged model	31/12/2019	27/07/2020	21/08/2020	Dutch	PDF
Abridged model	31/12/2018	30/06/2019	24/07/2019	Dutch	PDF
Abridged model	31/12/2017	30/06/2018	27/07/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	28/07/2017	Dutch	PDF
Abridged model	31/12/2015	16/05/2016	15/06/2016	Dutch	PDF
Abridged model	31/12/2014	18/05/2015	29/05/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	18/08/2014	Dutch	PDF
Abridged model	31/12/2012	29/06/2013	18/07/2013	Dutch	PDF
Abridged model	31/12/2011	30/06/2012	13/07/2012	Dutch	PDF
Abridged model	31/12/2010	08/06/2011	24/06/2011	Dutch	PDF
Abridged model	31/12/2009	03/06/2010	18/06/2010	Dutch	PDF
Abridged model	31/12/2008	30/06/2009	03/07/2009	Dutch	PDF
Abridged model	31/12/2007	30/06/2008	31/07/2008	Dutch	PDF
Abridged model	31/12/2006	21/05/2007	11/06/2007	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 · 1 active · 6 ended

Active mandates

Kris Thielman

Director

Active

Ended mandates

Kris Thielman

Director · since 31 janvier 2022

Ended

Kris Thielman

Director · since 19 octobre 2007

Ended

Kris Thielman

Manager · since 19 octobre 2007

Ended

An Van Remoortel

Manager · since 17 février 1995 · until 25 novembre 2014

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office20/03/2026
MAATSCHAPPELIJKE ZETEL
PDF
Mandates02/02/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - BENAMING - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares15/04/2015
KAPITAAL - AANDELEN
PDF
Mandates22/12/2014
ONTSLAGEN - BENOEMINGEN
PDF
Other05/04/2011
DOEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates05/11/2007
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 2025415,3 k €↑
2024
Annual accounts 2024189,5 k €↑
2023
Annual accounts 2023146,6 k €↑
2022
Annual accounts 2022103,3 k €↓
2021
Annual accounts 2021293,3 k €↑
2021
Name changeTHIELMAN
2020
Annual accounts 202091,2 k €↓
2019
Annual accounts 2019107,2 k €↑
2018
Annual accounts 201818,3 k €↓
2017
Annual accounts 201727,8 k €↑
2016
Annual accounts 2016-99 k €↓
2015
Annual accounts 201578,2 k €↑
2014
Annual accounts 201433,1 k €↑
2013
Annual accounts 201328,1 k €↓
2012
Annual accounts 201260,6 k €↑
2011
Annual accounts 201127,7 k €↓
2010
Annual accounts 201064,9 k €↑
2009
Annual accounts 200929,3 k €↑
2008
Annual accounts 200825,1 k €↓
2007
Annual accounts 200731,6 k €↓
2006
Annual accounts 200638,5 k €
2006
Name changeAARDAPPELHANDEL THIELMAN
25/05/1989
IncorporationPrivate 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

THIELMAN

Overview

What does THIELMAN do?

Trend over 20 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