ACTIVE

DTHF

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Financial year 2025 · closed on 30/06/2025

Net result

2,4 M €

+53.2% YoY

Gross margin

-97,2 k €

+29.1% YoY

Equity

143,3 M €

+1.7% YoY

Workforce

0,0 ETP

What does DTHF do?

DTHF is a Public limited company incorporated in 1995. Its main activity is: Activities of holding companies. Its registered office is in Lasne.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0454.910.697

Incorporation

13/03/1995

Legal form

Public limited company

Registered office

Chaussée de Louvain 533
1380 Lasne · WallonieSee on map

Contributed capital

1 216 413,53 €

Latest accounts

30/06/2025

Average workforce

0,0 ETP

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 74151Specialised design activities

Joint committees (2)

Signals

ProfitableSolid equityPositive cashflow

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	-97,2 k €	+29.1%	-137 k €	+25.4%	-183,8 k €	-13.0%	-162,6 k €		–		–		–		–		-544,5 k €	-120%	-247,2 k €	-24.2%	-199,1 k €	-81.4%	-109,8 k €	+17.2%	-132,7 k €	-136%	-56,2 k €	+20.6%	-70,8 k €	-14.4%	-61,9 k €	-71.6%	-36,1 k €
EBITDA	-207,7 k €	+16.5%	-248,7 k €	+14.5%	-290,7 k €	-11.0%	-262 k €	+7.3%	-282,6 k €	+3.7%	-293,6 k €	+83.7%	-1,8 M €	-338%	-412,2 k €	+32.1%	-606,9 k €	-104%	-297,6 k €	-30.0%	-228,9 k €	-20.4%	-190,2 k €	+4.9%	-200 k €	-59.3%	-125,6 k €	+18.4%	-153,8 k €	-11.2%	-138,3 k €	-45.7%	-94,9 k €
Operating result	-294,3 k €	+12.2%	-335,2 k €	+18.8%	-413 k €	-4.8%	-394,2 k €	+27.2%	-541,1 k €	-54.9%	-349,4 k €	+81.1%	-1,9 M €	-326%	-434,9 k €	+31.4%	-633,8 k €	-88.8%	-335,6 k €	-25.7%	-266,9 k €	-17.8%	-226,7 k €	+4.2%	-236,5 k €	-47.7%	-160,1 k €	-4.1%	-153,8 k €	-11.2%	-138,3 k €	-45.7%	-94,9 k €
Net result	2,4 M €	+53.2%	1,6 M €	+0.4%	1,6 M €	+124%	-6,4 M €	-250%	4,3 M €	-62.6%	11,4 M €	-29.2%	16,1 M €	+79.2%	9 M €	-71.1%	31,1 M €	-68.9%	100,2 M €	+507%	16,5 M €	+64017%	25,7 k €	-98.6%	1,8 M €	-72.0%	6,5 M €	+172%	-8,9 M €	-2348%	-365,4 k €	-125%	1,4 M €
Balance sheet
Equity	143,3 M €	+1.7%	140,9 M €	+1.1%	139,3 M €	+1.1%	137,8 M €	-1.0%	139,2 M €	-7.2%	149,9 M €	-9.0%	164,8 M €	+0.7%	163,7 M €	-3.5%	169,7 M €	+10.5%	153,6 M €	+163%	58,4 M €	+37.6%	42,5 M €	+0.1%	42,4 M €	+4.2%	40,7 M €	+18.9%	34,2 M €	-20.7%	43,2 M €	-0.8%	43,6 M €
Total assets	181 M €	+3.0%	175,7 M €	+0.1%	175,5 M €	-0.0%	175,6 M €	-4.8%	184,4 M €	+1.9%	181 M €	-7.2%	195,2 M €	-2.6%	200,3 M €	-0.5%	201,4 M €	+14.7%	175,6 M €	+125%	78,1 M €	+21.7%	64,2 M €	-0.3%	64,4 M €	+2.3%	62,9 M €	+10.6%	56,9 M €	-6.9%	61,1 M €	-0.3%	61,3 M €
Cash	3,2 M €	+72.2%	1,9 M €	-12.0%	2,1 M €	-46.7%	4 M €	-64.3%	11,1 M €	+9.0%	10,2 M €	-63.9%	28,2 M €	-12.7%	32,3 M €	-38.7%	52,7 M €	+1387%	3,5 M €	+131%	1,5 M €	+11.2%	1,4 M €	+232%	414,3 k €	-45.1%	755 k €	+503%	125,2 k €	+110%	59,5 k €	-12.6%	68,1 k €
Debts	37,6 M €	+8.1%	34,8 M €	-3.7%	36,1 M €	-4.4%	37,8 M €	-16.4%	45,2 M €	+45.3%	31,1 M €	+2.5%	30,4 M €	-16.8%	36,5 M €	+17.9%	31 M €	+41.3%	21,9 M €	+11.6%	19,6 M €	-9.5%	21,7 M €	-0.9%	21,9 M €	-1.1%	22,1 M €	-1.7%	22,5 M €	+26.7%	17,8 M €	+0.1%	17,7 M €
Other
Workforce	0,0 ETP		0,0 ETP		0,0 ETP		0,0 ETP		–		0,5 ETP	-64.3%	1,4 ETP	+16.7%	1,2 ETP	+71.4%	0,7 ETP	0.0%	0,7 ETP	0.0%	0,7 ETP	0.0%	0,7 ETP	-58.8%	1,7 ETP	0.0%	1,7 ETP	-22.7%	2,2 ETP	+29.4%	1,7 ETP	+21.4%	1,4 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 1 active · 3 ended

Active mandates

Michel Doret

Director · since 03 décembre 2020

Active

Ended mandates

Michel Doret

Director

Ended

Michel DORET

Mandate

Ended

Michel DORET

Manager

Ended

At this address

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DVR WATCHES● Active	1003.706.807
IMMO GRAND SABLE● Active	0420.841.626
MDHF● Active	0508.816.270

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Full model
Start of the financial year	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	03/12/2025	27/11/2024	28/11/2023	02/12/2022	22/12/2021	01/12/2020
General meeting	28/11/2025	22/11/2024	24/11/2023	30/11/2022	21/12/2021	27/11/2020
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/06/2025	28/11/2025	03/12/2025	French	PDF
Abridged model	30/06/2024	22/11/2024	27/11/2024	French	PDF
Abridged model	30/06/2023	24/11/2023	28/11/2023	French	PDF
Abridged model	30/06/2022	30/11/2022	02/12/2022	French	PDF
Abridged model	30/06/2021	21/12/2021	22/12/2021	French	PDF
Full model	30/06/2020	27/11/2020	01/12/2020	French	PDF
Full model	30/06/2019	22/11/2019	28/11/2019	French	PDF
Full model	30/06/2018	14/12/2018	19/12/2018	French	PDF
Full model	30/06/2017	15/12/2017	21/12/2017	French	PDF
Full model	30/06/2016	25/11/2016	01/12/2016	French	PDF
Abridged model	30/06/2015	20/01/2016	21/01/2016	French	PDF
Abridged model	30/06/2014	15/12/2014	15/01/2015	French	PDF
Abridged model	30/06/2013	29/11/2013	17/12/2013	French	PDF
Abridged model	30/06/2012	28/12/2012	23/01/2013	French	PDF
Abridged model	30/06/2011	28/10/2011	28/12/2011	French	PDF
Abridged model	30/06/2010	01/10/2010	05/01/2011	French	PDF
Abridged model	30/06/2009	02/10/2009	15/01/2010	French	PDF
Abridged model	30/06/2008	03/10/2008	22/12/2008	French	PDF
Abridged model	30/06/2007	05/10/2007	26/11/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 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 30/06/2025 · 1 active · 3 ended

Active mandates

Michel Doret

Director · since 03 décembre 2020

Active

Ended mandates

Michel Doret

Director

Ended

Michel DORET

Mandate

Ended

Michel DORET

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates07/01/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates31/01/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates29/12/2020
DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE
PDF
Registered office25/02/2019
SIEGE SOCIAL - DIVERS
PDF
Mandates09/01/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates03/02/2016
DEMISSIONS, NOMINATIONS
PDF
Registered office20/08/2015
SIEGE SOCIAL
PDF
Registered office04/02/2014
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 20252,4 M €↑
2024
Annual accounts 20241,6 M €↑
2023
Annual accounts 20231,6 M €↑
2022
Annual accounts 2022-6,4 M €↓
2019
Annual accounts 20194,3 M €↓
2018
Annual accounts 201811,4 M €↓
2017
Annual accounts 201716,1 M €↑
2016
Annual accounts 20169 M €↓
2015
Annual accounts 201531,1 M €↓
2014
Annual accounts 2014100,2 M €↑
2013
Annual accounts 201316,5 M €↑
2012
Annual accounts 201225,7 k €↓
2011
Annual accounts 20111,8 M €↓
2010
Annual accounts 20106,5 M €↑
2009
Annual accounts 2009-8,9 M €↓
2008
Annual accounts 2008-365,4 k €↓
2007
Annual accounts 20071,4 M €
13/03/1995
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

DTHF

Overview

What does DTHF do?

Trend over 17 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