ACTIVE

THERAL

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Financial year 2025 · closed on 31/12/2025

Net result

67,7 k €

-24.5% YoY

Gross margin

111,5 k €

-22.0% YoY

Equity

1 M €

+5.6% YoY

What does THERAL do?

THERAL is a Private limited company incorporated in 1993. Its main activity is: Agents specialised in the sale of other particular products. Its registered office is in Saint-Gilles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0451.168.675

Incorporation

25/10/1993

Legal form

Private limited company

Registered office

Avenue de la Jonction 5
1060 Saint-Gilles · BruxellesSee on map

Contributed capital

19 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

46180Agents specialised in the sale of other particular products· main 46180Agents specialised in the sale of other particular products 51180Passenger air transport

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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Recommended credit limit

✦ 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	111,5 k €	-22.0%	143 k €	+37.7%	103,9 k €	-39.1%	170,6 k €	+10.7%	154,2 k €	+33.2%	115,7 k €	-30.7%	167 k €	+78.4%	93,6 k €	-12.1%	106,5 k €	-9.7%	117,9 k €	-8.7%	129,2 k €	+89.9%	68 k €	-21.9%	87,2 k €	-18.2%	106,5 k €	-2.7%	109,5 k €	+73.8%	63 k €	-39.6%	104,3 k €	-15.6%	123,6 k €	+62.3%	76,2 k €	-2.2%	77,9 k €
EBITDA	98,6 k €	-28.5%	137,8 k €	+37.2%	100,4 k €	-40.9%	169,9 k €	+11.1%	152,9 k €	+33.6%	114,4 k €	-31.0%	165,7 k €	+79.5%	92,3 k €	-12.2%	105,1 k €	-0.5%	105,6 k €	-17.3%	127,8 k €	+90.6%	67 k €	-21.4%	85,3 k €	-19.3%	105,7 k €	-1.3%	107 k €	+72.1%	62,2 k €	-39.8%	103,4 k €	-15.6%	122,6 k €	+64.9%	74,3 k €	-3.5%	77 k €
Operating result	89,4 k €	-16.8%	107,5 k €	+24.8%	86,1 k €	-32.5%	127,6 k €	-16.0%	151,9 k €	+34.2%	113,1 k €	-31.1%	164,3 k €	+79.6%	91,5 k €	-12.2%	104,2 k €	-1.0%	105,2 k €	-10.7%	117,9 k €	+106%	57,2 k €	-23.9%	75,2 k €	-21.0%	95,2 k €	+10.1%	86,5 k €	+63.2%	53 k €	-43.6%	94 k €	-17.0%	113,2 k €	+74.0%	65,1 k €	-14.1%	75,8 k €
Net result	67,7 k €	-24.5%	89,6 k €	+17.4%	76,3 k €	-20.9%	96,5 k €	-27.8%	133,6 k €	+38.9%	96,2 k €	-31.0%	139,5 k €	+73.9%	80,2 k €	-4.9%	84,3 k €	-5.3%	89 k €	-4.9%	93,6 k €	+113%	44 k €	-30.5%	63,3 k €	-27.0%	86,6 k €	+34.6%	64,4 k €	+36.2%	47,3 k €	-40.0%	78,8 k €	-12.4%	89,9 k €	+138%	37,8 k €	-26.1%	51,1 k €
Balance sheet
Equity	1 M €	+5.6%	969,2 k €	+7.6%	900,4 k €	+4.8%	859,1 k €	+8.9%	788,6 k €	+8.0%	729,9 k €	+5.1%	694,7 k €	+10.8%	627,2 k €	+5.5%	594,5 k €	+4.9%	566,7 k €	+5.9%	535,2 k €	+8.9%	491,5 k €	+6.7%	460,6 k €	+7.0%	430,3 k €	+14.2%	376,7 k €	+13.3%	332,3 k €	+12.6%	295,1 k €	+17.9%	250,3 k €	+28.1%	195,5 k €	+18.3%	165,2 k €
Total assets	1,3 M €	+3.2%	1,2 M €	+2.1%	1,2 M €	+3.4%	1,1 M €	+7.7%	1,1 M €	+11.3%	956,4 k €	-6.5%	1 M €	+10.1%	928,7 k €	+1.2%	917,8 k €	+0.2%	915,5 k €	+5.9%	864,2 k €	+12.2%	770,3 k €	+10.1%	699,8 k €	+14.5%	610,9 k €	+5.5%	579 k €	+13.3%	510,9 k €	-0.8%	515,3 k €	+15.4%	446,3 k €	+2.5%	435,4 k €	+32.1%	329,4 k €
Cash	590,1 k €	+33.3%	442,7 k €	-14.5%	517,6 k €	-10.1%	575,5 k €	-25.5%	772,4 k €	+12.4%	687,5 k €	-5.4%	726,7 k €	+51.2%	480,8 k €	-19.7%	598,4 k €	-7.6%	647,6 k €	+5.5%	613,5 k €	+47.3%	416,5 k €	+14.3%	364,5 k €	+8.0%	337,5 k €	+36.9%	246,5 k €	+72.1%	143,2 k €	-19.3%	177,3 k €	-3.1%	183 k €	+42.8%	128,2 k €	+1259%	9,4 k €
Debts	227,1 k €	-6.3%	242,4 k €	-15.2%	285,7 k €	-0.7%	287,6 k €	+4.5%	275,2 k €	+21.5%	226,5 k €	-31.0%	328,3 k €	+8.9%	301,5 k €	-6.7%	323,3 k €	-7.3%	348,8 k €	+6.0%	329,1 k €	+18.0%	278,8 k €	+16.5%	239,2 k €	+32.5%	180,6 k €	-10.7%	202,3 k €	+13.3%	178,6 k €	-18.9%	220,2 k €	+12.3%	196 k €	-18.3%	239,9 k €	+46.3%	164 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active

Active mandates

François EL KHOURY

Mandate

Active

At this address

Other companies at this address

Company	CBE no.
Association des copropriétaires à Saint-Gilles avenue de la Jonction 5, La Malmaison● Active	0830.175.092
Avocats Dupont● Active	0773.865.010
Rex bonus est● Active	1032.360.805

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	16/06/2026	10/06/2025	12/06/2024	16/06/2023	15/06/2022	15/06/2021
General meeting	20/05/2026	21/05/2025	15/05/2024	17/05/2023	18/05/2022	19/05/2021
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	20/05/2026	16/06/2026	French	PDF
Abridged model	31/12/2024	21/05/2025	10/06/2025	French	PDF
Abridged model	31/12/2023	15/05/2024	12/06/2024	French	PDF
Abridged model	31/12/2022	17/05/2023	16/06/2023	French	PDF
Abridged model	31/12/2021	18/05/2022	15/06/2022	French	PDF
Abridged model	31/12/2020	19/05/2021	15/06/2021	French	PDF
Abridged model	31/12/2019	20/05/2020	18/06/2020	French	PDF
Abridged model	31/12/2018	15/05/2019	11/06/2019	French	PDF
Abridged model	31/12/2017	16/05/2018	14/06/2018	French	PDF
Abridged model	31/12/2016	17/05/2017	14/06/2017	French	PDF
Abridged model	31/12/2015	18/05/2016	17/06/2016	French	PDF
Abridged model	31/12/2014	20/05/2015	19/06/2015	French	PDF
Abridged model	31/12/2013	21/05/2014	18/06/2014	French	PDF
Abridged model	31/12/2012	15/05/2013	13/06/2013	French	PDF
Abridged model	31/12/2011	16/05/2012	14/06/2012	French	PDF
Abridged model	31/12/2010	18/05/2011	17/06/2011	French	PDF
Abridged model	31/12/2009	19/05/2010	16/06/2010	French	PDF
Abridged model	31/12/2008	20/05/2009	16/06/2009	French	PDF
Abridged model	31/12/2007	21/05/2008	17/06/2008	French	PDF
Abridged model	31/12/2006	16/05/2007	15/06/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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

Active mandates

François EL KHOURY

Mandate

Active

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates18/10/2022
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - SIEGE SOCIAL - OBJET - DEMISSIONS, NOMINATIONS
PDF
Registered office14/03/2008
SIEGE SOCIAL
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 202567,7 k €↓
2024
Annual accounts 202489,6 k €↑
2023
Annual accounts 202376,3 k €↓
2022
Annual accounts 202296,5 k €↓
2021
Annual accounts 2021133,6 k €↑
2020
Annual accounts 202096,2 k €↓
2019
Annual accounts 2019139,5 k €↑
2018
Annual accounts 201880,2 k €↓
2017
Annual accounts 201784,3 k €↓
2016
Annual accounts 201689 k €↓
2015
Annual accounts 201593,6 k €↑
2014
Annual accounts 201444 k €↓
2013
Annual accounts 201363,3 k €↓
2012
Annual accounts 201286,6 k €↑
2011
Annual accounts 201164,4 k €↑
2010
Annual accounts 201047,3 k €↓
2009
Annual accounts 200978,8 k €↓
2008
Annual accounts 200889,9 k €↑
2007
Annual accounts 200737,8 k €↓
2006
Annual accounts 200651,1 k €
25/10/1993
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

THERAL

Overview

What does THERAL 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