ACTIVE

TOSALU

Export PDF

Financial year 2025 · closed on 31/12/2025

Net result

125,2 M €

+752.6% YoY

Revenue

358,8 k €

-1.4% YoY

Equity

98,1 M €

+104.5% YoY

Workforce

0,2 ETP

0.0% YoY

What does TOSALU do?

TOSALU is a Public limited company incorporated in 1990. Its registered office is in Kortemark. It employs on average 0,2 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0442.122.535

Incorporation

18/09/1990

Legal form

Public limited company

Registered office

Ellestraat 16
8610 Kortemark · FlandreSee on map

Contributed capital

17 581 112,50 €

Latest accounts

31/12/2025

Average workforce

0,2 ETP

Joint committees (4)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflow

View the BCE/KBO Public Search record →

Health score

Available with a Rovalta subscriptionTry for 7 days

Recommended credit limit

✦ 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
Revenue	358,8 k €	-1.4%	363,7 k €		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–
EBITDA	-214,6 k €	-419%	-41,3 k €	+72.4%	-149,8 k €	-57.3%	-95,2 k €	-142%	224,8 k €	+694%	-37,9 k €	-199%	38,2 k €	-90.3%	396,2 k €	+42.8%	277,5 k €	-42.2%	479,6 k €	+3096%	-16,0 k €	-104%	427,3 k €	-41.2%	726,3 k €	-26.3%	985,1 k €	-32.8%	1,5 M €	+14.8%	1,3 M €	+315%	307,3 k €	-80.6%	1,6 M €
Operating result	-263,4 k €	-64.8%	-159,9 k €	+40.1%	-266,8 k €	-22.7%	-217,5 k €	-331%	94,0 k €	+156%	-168,7 k €	-79.1%	-94,2 k €	-136%	261,0 k €	+90.8%	136,8 k €	-59.3%	336,5 k €	+304%	-164,9 k €	-159%	277,7 k €	-51.8%	576,7 k €	-31.0%	836,0 k €	-36.7%	1,3 M €	+16.1%	1,1 M €	+471%	199,6 k €	-86.7%	1,5 M €
Net result	125,2 M €	+753%	14,7 M €	+13423%	108,5 k €	+157%	-189,3 k €	-191%	208,5 k €	-58.0%	496,5 k €	-4.4%	519,3 k €	-36.1%	812,4 k €	-77.8%	3,7 M €	+11.8%	3,3 M €	+1851%	-187,3 k €	-474%	-32,6 k €	-108%	405,9 k €	+150%	-815,1 k €	-454%	229,9 k €	-82.9%	1,3 M €	-0.1%	1,3 M €	-10.6%	1,5 M €
Balance sheet
Equity	98,1 M €	+104%	48,0 M €	+44.1%	33,3 M €	+0.3%	33,2 M €	-0.6%	33,4 M €	+0.0%	33,4 M €	+0.1%	33,3 M €	+1.6%	32,8 M €	+2.5%	32,0 M €	+12.9%	28,4 M €	+13.1%	25,1 M €	-0.7%	25,3 M €	-0.1%	25,3 M €	+1.6%	24,9 M €	-3.2%	25,7 M €	-22.4%	33,1 M €	+4.2%	31,8 M €	+4.4%	30,4 M €
Total assets	107,0 M €	+88.3%	56,8 M €	+33.9%	42,4 M €	-0.8%	42,8 M €	-2.1%	43,7 M €	-2.4%	44,8 M €	-0.6%	45,0 M €	-3.0%	46,4 M €	-3.0%	47,8 M €	+2.7%	46,6 M €	+11.8%	41,7 M €	-1.1%	42,1 M €	+0.1%	42,1 M €	-0.6%	42,3 M €	+1.5%	41,7 M €	+13.3%	36,8 M €	+6.3%	34,6 M €	+2.8%	33,7 M €
Cash	1,2 M €	+942%	119,4 k €	-83.5%	721,9 k €	-58.1%	1,7 M €	-37.0%	2,7 M €	-39.8%	4,5 M €	-27.7%	6,3 M €	-14.6%	7,4 M €	-16.9%	8,9 M €	+269%	2,4 M €	+82.7%	1,3 M €	-10.0%	1,5 M €	-27.2%	2,0 M €	+3.8%	1,9 M €	+543%	301,1 k €	-58.6%	727,0 k €	-63.2%	2,0 M €	-15.3%	2,3 M €
Debts	8,2 M €	-1.3%	8,3 M €	-4.7%	8,7 M €	-6.1%	9,3 M €	-7.3%	10,0 M €	-9.4%	11,0 M €	-2.8%	11,3 M €	-14.5%	13,3 M €	-14.3%	15,5 M €	-14.2%	18,0 M €	+10.0%	16,4 M €	-1.5%	16,7 M €	+0.5%	16,6 M €	-3.8%	17,2 M €	+7.9%	16,0 M €	+331%	3,7 M €	+29.9%	2,9 M €	-12.6%	3,3 M €
Other
Workforce	0,2 ETP	0.0%	0,2 ETP	0.0%	0,2 ETP	0.0%	0,2 ETP	0.0%	0,2 ETP	-77.8%	0,9 ETP	0.0%	0,9 ETP	0.0%	0,9 ETP	+12.5%	0,8 ETP	-20.0%	1,0 ETP		–		0,8 ETP	-27.3%	1,1 ETP	-21.4%	1,4 ETP		–		–		–		0,4 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 36 ended

Active mandates

Bernadette DEBRUYNE

Director · since 19 mai 2025 · until 18 mai 2028

Active

José De Volder

Director · since 19 mai 2025 · until 18 mai 2028

Active

PRINCIP.Al

Director · since 19 mai 2025 · until 18 mai 2028 · 0894.303.277

Represented by Samuel Desimpel

Active

SEFRAM SARL

Director · since 19 mai 2025 · until 18 mai 2028

Represented by Lucie Desimpel

Active

THODES

Director · since 19 mai 2025 · until 18 mai 2028 · 0650.586.423

Represented by Thomas Desimpel

Active

Ended mandates

APIS Investment

Managing director · since 01 juin 2023 · 0555.652.226

Represented by LUCIE DESIMPEL

Ended

BERNADETTE DEBRUYNE

Managing director · since 01 juin 2023

Ended

JOSE DE VOLDER

Managing director · since 01 juin 2023

Ended

PRINCIP.Al

Managing director · since 01 juin 2023 · 0894.303.277

Represented by SAMUEL DESIMPEL

Ended

At this address

Other companies at this address

Company	CBE no.
TER LINDE● Active	0568.555.701

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full 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	31/08/2026	29/07/2025	08/07/2024	20/07/2023	25/08/2022	19/07/2021
General meeting	04/06/2026	05/06/2025	06/06/2024	01/06/2023	21/06/2022	03/06/2021
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 days

Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	04/06/2026	31/08/2026	Dutch	PDF
Full model	31/12/2024	05/06/2025	29/07/2025	Dutch	PDF
Abridged model	31/12/2023	06/06/2024	08/07/2024	Dutch	PDF
Abridged model	31/12/2022	01/06/2023	20/07/2023	Dutch	PDF
Abridged model	31/12/2021	21/06/2022	25/08/2022	Dutch	PDF
Abridged model	31/12/2020	03/06/2021	19/07/2021	Dutch	PDF
Abridged model	31/12/2019	04/06/2020	10/09/2020	Dutch	PDF
Abridged model	31/12/2018	04/06/2019	28/08/2019	Dutch	PDF
Abridged model	31/12/2017	02/05/2018	26/07/2018	Dutch	PDF
Abridged model	31/12/2016	16/06/2017	20/07/2017	Dutch	PDF
Abridged model	31/12/2015	17/06/2016	19/07/2016	Dutch	PDF
Abridged model	31/12/2014	04/06/2015	23/07/2015	Dutch	PDF
Abridged model	31/12/2013	05/06/2014	11/07/2014	Dutch	PDF
Abridged modelCorrection	31/12/2012	24/06/2013	27/02/2014	Dutch	PDF
Abridged model	31/12/2012	24/06/2013	28/06/2013	Dutch	PDF
Abridged modelCorrection	31/12/2011	07/06/2012	27/02/2014	Dutch	PDF
Abridged model	31/12/2011	07/06/2012	13/07/2012	Dutch	PDF
Abridged model	31/12/2010	02/06/2011	26/07/2011	Dutch	PDF
Abridged model	31/12/2009	03/06/2010	28/06/2010	Dutch	PDF
Abridged model	30/06/2008	04/09/2008	07/11/2008	Dutch	PDF
Abridged model	30/06/2007	06/09/2007	13/09/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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 · 5 active · 36 ended

Active mandates

Bernadette DEBRUYNE

Director · since 19 mai 2025 · until 18 mai 2028

Active

José De Volder

Director · since 19 mai 2025 · until 18 mai 2028

Active

PRINCIP.Al

Director · since 19 mai 2025 · until 18 mai 2028 · 0894.303.277

Represented by Samuel Desimpel

Active

SEFRAM SARL

Director · since 19 mai 2025 · until 18 mai 2028

Represented by Lucie Desimpel

Active

THODES

Director · since 19 mai 2025 · until 18 mai 2028 · 0650.586.423

Represented by Thomas Desimpel

Active

Ended mandates

APIS Investment

Managing director · since 01 juin 2023 · 0555.652.226

Represented by LUCIE DESIMPEL

Ended

BERNADETTE DEBRUYNE

Managing director · since 01 juin 2023

Ended

JOSE DE VOLDER

Managing director · since 01 juin 2023

Ended

PRINCIP.Al

Managing director · since 01 juin 2023 · 0894.303.277

Represented by SAMUEL DESIMPEL

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates21/05/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/10/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/11/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/02/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/07/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/06/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/10/2014
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares12/12/2013
KAPITAAL - AANDELEN
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 2025125,2 M €↑
12/05/2025
nominationBernadette DEBRUYNE — bestuurder
12/05/2025
nominationJosé DE VOLDER — bestuurder
12/05/2025
nominationSEFRAM — bestuurder
12/05/2025
nominationPRINCIP.AI — bestuurder
12/05/2025
nominationTHODES — bestuurder
2024
Annual accounts 202414,7 M €↑
06/06/2024
reconductionBERNADETTE DEBRUYNE — bestuurder
06/06/2024
reconductionJOSE DE VOLDER — bestuurder
06/06/2024
nominationSEFRAM BV — bestuurder
06/06/2024
reconductionPRINCIP.AL — bestuurder
06/06/2024
reconductionTHODES — bestuurder
2023
Annual accounts 2023108,5 k €↑
01/06/2023
reconductionBernadette Debruyne — bestuurder
01/06/2023
reconductionJose De Volder — bestuurder
01/06/2023
reconductionBVBA APIS INVESTMENT — bestuurder
01/06/2023
reconductionBVBA PRINCIP.AL — bestuurder
01/06/2023
reconductionBV THODES — bestuurder
2022
Annual accounts 2022-189,3 k €↓
2021
Annual accounts 2021208,5 k €↓
2020
Annual accounts 2020496,5 k €↓
2019
Annual accounts 2019519,3 k €↓
2018
Annual accounts 2018812,4 k €↓
2017
Annual accounts 20173,7 M €↑
2016
Annual accounts 20163,3 M €↑
2015
Annual accounts 2015-187,3 k €↓
2014
Annual accounts 2014-32,6 k €↓
2013
Annual accounts 2013405,9 k €↑
2012
Annual accounts 2012-815,1 k €↓
2011
Annual accounts 2011229,9 k €↓
2010
Annual accounts 20101,3 M €↓
2009
Annual accounts 20091,3 M €↓
2008
Annual accounts 20081,5 M €
18/09/1990
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

TOSALU

Overview

What does TOSALU do?

Trend over 18 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