ACTIVE

THIELEMANS & C°

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Financial year 2025 · closed on 31/12/2025

Net result

842,7 k €

-17.2% YoY

Revenue

15,8 M €

+3.6% YoY

Equity

4,3 M €

+16.2% YoY

Workforce

41,6 ETP

-2.3% YoY

What does THIELEMANS & C° do?

THIELEMANS & C° is a Public limited company incorporated in 1994. Its registered office is in Merchtem. It employs on average 41,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0452.421.757

Incorporation

25/03/1994

Legal form

Public limited company

Registered office

Brusselsesteenweg 307
1785 Merchtem · FlandreSee on map

Contributed capital

80 573,38 €

Latest accounts

31/12/2025

Average workforce

41,6 ETP

Joint committees (6)

111
11123
11323
124
200
209

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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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		2014		2013		2012		2010		2009		2008		2007		2006
Income statement
Revenue	15,8 M €	+3.6%	15,3 M €	-6.6%	16,4 M €		–		–		–		–		–		–		–		–		–		–		3,7 M €	+9.4%	3,4 M €	+17.4%	2,9 M €	+8.5%	2,7 M €	+18.2%	2,3 M €
EBITDA	1,4 M €	-17.1%	1,7 M €	-30.4%	2,5 M €	+146%	1 M €	-2.5%	1 M €	+115%	482,5 k €	+16.8%	413,1 k €	+175%	150,1 k €	+22.8%	122,2 k €	-76.5%	520,9 k €	+66.3%	313,3 k €	+26.8%	247 k €	-48.3%	477,7 k €	+71.5%	278,6 k €	+10.3%	252,6 k €	-18.4%	309,7 k €	+54.1%	200,9 k €	+9.9%	182,9 k €
Operating result	996,3 k €	-22.4%	1,3 M €	-35.6%	2 M €	+156%	780 k €	-0.9%	787 k €	+145%	321,3 k €	+98.2%	162,1 k €	+878%	-20,8 k €	+12.6%	-23,8 k €	-115%	163,7 k €	+37.0%	119,5 k €	+142%	49,4 k €	-61.0%	126,6 k €	-31.3%	184,2 k €	+43.7%	128,2 k €	-37.7%	205,7 k €	+76.7%	116,4 k €	+15.3%	101 k €
Net result	842,7 k €	-17.2%	1 M €	-41.4%	1,7 M €	+192%	595,5 k €	-6.0%	633,8 k €	+203%	209,5 k €	+85.3%	113 k €	+824%	12,2 k €	+147%	-26,1 k €	-127%	97,3 k €	+40.7%	69,1 k €	+277%	18,3 k €	-86.1%	132,1 k €	-0.1%	132,3 k €	+25.1%	105,7 k €	-76.6%	451,5 k €	+390%	92,2 k €	+289%	23,7 k €
Balance sheet
Equity	4,3 M €	+16.2%	3,7 M €	+15.2%	3,2 M €	+21.5%	2,7 M €	+17.4%	2,3 M €	+40.4%	1,6 M €	+14.9%	1,4 M €	+6.3%	1,3 M €	-0.6%	1,3 M €	-1.9%	1,4 M €	+7.7%	1,3 M €	+2.9%	1,2 M €	+1.5%	1,2 M €	+5.7%	1,1 M €	+10.9%	1 M €	+11.5%	922,6 k €	+95.8%	471,1 k €	+24.3%	378,9 k €
Total assets	7,3 M €	+14.7%	6,4 M €	-6.2%	6,8 M €	+38.7%	4,9 M €	+15.4%	4,3 M €	+31.8%	3,2 M €	-2.5%	3,3 M €	+19.4%	2,8 M €	+10.4%	2,5 M €	+7.1%	2,4 M €	-0.0%	2,4 M €	+5.9%	2,2 M €	-13.9%	2,6 M €	+23.6%	2,1 M €	+11.5%	1,9 M €	+4.2%	1,8 M €	+62.0%	1,1 M €	+0.9%	1,1 M €
Cash	1,1 M €	-11.1%	1,3 M €	-36.4%	2 M €	+30.2%	1,5 M €	+431%	287,7 k €	+89.2%	152 k €	-31.9%	223,1 k €	+52.2%	146,6 k €	-33.1%	219,2 k €	-31.5%	319,9 k €	+117%	147,4 k €	-26.1%	199,5 k €	-35.1%	307,6 k €	+3.7%	296,7 k €	+0.0%	296,6 k €	-20.6%	373,7 k €	+317%	89,7 k €	-48.6%	174,5 k €
Debts	2,9 M €	+15.4%	2,5 M €	-28.1%	3,5 M €	+59.1%	2,2 M €	+13.6%	2 M €	+26.2%	1,5 M €	-15.5%	1,8 M €	+34.1%	1,4 M €	+25.8%	1,1 M €	+23.1%	880,9 k €	-8.2%	959,6 k €	+12.6%	852,6 k €	-30.0%	1,2 M €	+70.9%	712,4 k €	+12.3%	634,7 k €	-3.3%	656,5 k €	+11.7%	587,5 k €	-18.4%	720 k €
Other
Workforce	41,6 ETP	-2.3%	42,6 ETP	-5.1%	44,9 ETP	+60.9%	27,9 ETP	+11.6%	25,0 ETP	+5.0%	23,8 ETP	+8.7%	21,9 ETP	0.0%	21,9 ETP	+10.1%	19,9 ETP	+19.9%	16,6 ETP	+12.9%	14,7 ETP	+14.8%	12,8 ETP	+13.3%	11,3 ETP	+15.3%	9,8 ETP	+1.0%	9,7 ETP	+10.2%	8,8 ETP	-6.4%	9,4 ETP	+9.3%	8,6 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 · 1 active · 13 ended

Active mandates

Brick-Invest

Director · 0800.708.868

Represented by Kristof Van Doorslaer

Active

Ended mandates

Brick-Invest

Director · since 01 mai 2023 · 0800.708.868

Represented by Kristof Van Doorslaer

Ended

Kristof Van Doorslaer

Director · since 18 juin 2021

Ended

KRISTOF VAN DOORSLAER

Managing director · since 25 juin 2014 · until 25 juin 2020

Ended

THIELEMANS SERVICES

Director · since 25 juin 2014 · until 25 juin 2020 · 0477.975.121

Represented by Kristof Van Doorslaer

Ended

At this address

Other companies at this address

Company	CBE no.
Van Doorslaer Invest● Active	0658.811.330
VDI-eenheid● Active	0672.704.502

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/07/2020	01/07/2019
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	18 months	12 months
Filing date	30/07/2026	03/07/2025	17/07/2024	28/07/2023	24/08/2022	01/02/2021
General meeting	10/07/2026	20/06/2025	12/07/2024	18/04/2023	30/06/2022	11/12/2020
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

18 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	10/07/2026	30/07/2026	Dutch	PDF
Full model	31/12/2024	20/06/2025	03/07/2025	Dutch	PDF
Full model	31/12/2023	12/07/2024	17/07/2024	Dutch	PDF
Abridged model	31/12/2022	18/04/2023	28/07/2023	Dutch	PDF
Abridged model	31/12/2021	30/06/2022	24/08/2022	Dutch	PDF
Abridged model	30/06/2020	11/12/2020	01/02/2021	Dutch	PDF
Abridged model	30/06/2019	13/12/2019	21/01/2020	Dutch	PDF
Abridged model	30/06/2018	14/12/2018	11/02/2019	Dutch	PDF
Abridged model	30/06/2017	31/12/2017	01/02/2018	Dutch	PDF
Abridged model	30/06/2016	30/12/2016	01/02/2017	Dutch	PDF
Abridged model	30/09/2014	27/03/2015	31/03/2015	Dutch	PDF
Abridged model	30/09/2013	28/03/2014	31/03/2014	Dutch	PDF
Abridged model	30/09/2012	15/03/2013	03/04/2013	Dutch	PDF
Abridged model	31/12/2010	24/06/2011	24/08/2011	Dutch	PDF
Abridged model	31/12/2009	25/06/2010	20/08/2010	Dutch	PDF
Abridged model	31/12/2008	26/06/2009	26/08/2009	Dutch	PDF
Abridged model	31/12/2007	27/06/2008	29/08/2008	Dutch	PDF
Abridged model	31/12/2006	29/06/2007	17/08/2007	Dutch	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 · 1 active · 13 ended

Active mandates

Brick-Invest

Director · 0800.708.868

Represented by Kristof Van Doorslaer

Active

Ended mandates

Brick-Invest

Director · since 01 mai 2023 · 0800.708.868

Represented by Kristof Van Doorslaer

Ended

Kristof Van Doorslaer

Director · since 18 juin 2021

Ended

KRISTOF VAN DOORSLAER

Managing director · since 25 juin 2014 · until 25 juin 2020

Ended

THIELEMANS SERVICES

Director · since 25 juin 2014 · until 25 juin 2020 · 0477.975.121

Represented by Kristof Van Doorslaer

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates06/11/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/07/2024
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring17/02/2023
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring12/12/2022
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Other25/06/2021
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - BENAMING - ALGEMENE VERGADERING - BOEKJAAR
PDF
Other23/11/2015
BOEKJAAR - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates27/04/2015
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/04/2013
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 2025842,7 k €↓
2024
Annual accounts 20241 M €↓
2023
Annual accounts 20231,7 M €↑
2023
Name changeThielemans & C°
2022
Annual accounts 2022595,5 k €↓
2021
Annual accounts 2021633,8 k €↑
2021
Name changeTHIELEMANS & CO
2020
Annual accounts 2020209,5 k €↑
2019
Annual accounts 2019113 k €↑
2018
Annual accounts 201812,2 k €↑
2017
Annual accounts 2017-26,1 k €↓
2016
Annual accounts 201697,3 k €↑
2014
Annual accounts 201469,1 k €↑
2013
Annual accounts 201318,3 k €↓
2012
Annual accounts 2012132,1 k €↓
2010
Annual accounts 2010132,3 k €↑
2009
Annual accounts 2009105,7 k €↓
2008
Annual accounts 2008451,5 k €↑
2007
Annual accounts 200792,2 k €↑
2006
Annual accounts 200623,7 k €
2006
Name changeTHIELEMANS en Co
25/03/1994
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

THIELEMANS & C°

Overview

What does THIELEMANS & C° 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