ACTIVE

THERSA

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Financial year 2025 · closed on 31/12/2025

Net result

13,3 k €

+110.8% YoY

Gross margin

16 k €

+166.0% YoY

Equity

218,3 k €

+6.5% YoY

What does THERSA do?

THERSA is a Public limited company incorporated in 1995. Its main activity is: Warehousing and storage. Its registered office is in Maaseik.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0455.451.622

Incorporation

21/06/1995

Legal form

Public limited company

Registered office

Sportlaan 13 box 3
3680 Maaseik · FlandreSee on map

Contributed capital

61 973,38 €

Latest accounts

31/12/2025

Activities (NACE)

52113Warehousing and storage· main 56101Restaurants and mobile food service activities 56111Restaurants and mobile food service activities 47110Retail sale in non-specialised stores with food, beverages or tobacco predominating 47113Retail sale in non-specialised stores with food, beverages or tobacco predominating 56210Event catering activities+1

Joint committees (2)

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debts

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Health score

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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	16 k €	+166%	6 k €	-97.5%	237,6 k €	-33.1%	355,2 k €	-35.6%	551,7 k €	+2325%	22,8 k €	-21.9%	29,1 k €	+349%	6,5 k €	+274%	-3,7 k €	-101%	657,6 k €	+32.4%	496,6 k €	-16.6%	595,2 k €	+13.4%	524,8 k €	+9.9%	477,5 k €	+4.3%	457,7 k €	+13.3%	403,9 k €	-6.9%	434 k €	+7.7%	403 k €	+31.0%	307,7 k €	+3.4%	297,6 k €
EBITDA	12,9 k €	+111%	-113 k €	-115%	-52,5 k €	-379%	18,8 k €	-94.6%	346,2 k €	+1491%	21,8 k €	-22.5%	28,1 k €	+367%	-10,5 k €	-63.4%	-6,4 k €	-101%	565,5 k €	+3300%	16,6 k €	-87.3%	131 k €	+29.2%	101,3 k €	+43.6%	70,6 k €	+13.9%	62 k €	-37.1%	98,6 k €	-11.4%	111,2 k €	+23.7%	89,9 k €	+224%	27,7 k €	-52.1%	57,8 k €
Operating result	12,9 k €	+111%	-116,5 k €	-1.8%	-114,4 k €	-143%	-47 k €	-117%	280,8 k €	+1201%	21,6 k €	-23.1%	28,1 k €	+367%	-10,5 k €	-63.4%	-6,4 k €	-101%	565,5 k €	+3405%	-17,1 k €	-118%	95,6 k €	+44.6%	66,1 k €	+120%	30 k €	+92.0%	15,6 k €	-72.5%	56,8 k €	-25.3%	75,9 k €	+28.6%	59 k €	+615%	8,3 k €	-82.9%	48,4 k €
Net result	13,3 k €	+111%	-122,6 k €	-10.8%	-110,7 k €	-149%	-44,5 k €	-122%	200,7 k €	+1224%	15,2 k €	-21.0%	19,2 k €	+257%	-12,2 k €	-61.7%	-7,6 k €	-109%	85,3 k €	+295%	-43,9 k €	-156%	77,7 k €	+17.4%	66,2 k €	+177%	23,9 k €	+578%	-5 k €	-111%	43,5 k €	-40.1%	72,7 k €	+426%	-22,3 k €	-26.0%	-17,7 k €	-208%	16,4 k €
Balance sheet
Equity	218,3 k €	+6.5%	205 k €	-37.4%	327,6 k €	-25.2%	438,3 k €	-9.2%	482,8 k €	+71.1%	282,1 k €	+5.7%	266,9 k €	+7.7%	247,7 k €	-59.8%	616,6 k €	-1.2%	624,1 k €	+15.8%	538,8 k €	-7.5%	582,6 k €	+7.7%	541 k €	+7.7%	502,4 k €	+5.0%	478,5 k €	-1.0%	483,5 k €	+9.9%	440 k €	+19.8%	367,3 k €	-5.7%	389,6 k €	-4.3%	407,3 k €
Total assets	448,9 k €	-0.4%	450,9 k €	-22.8%	583,7 k €	-31.2%	848,6 k €	-8.4%	926,9 k €	-4.6%	971,7 k €	+3.1%	942,6 k €	+3.2%	913,8 k €	-16.7%	1,1 M €	-0.6%	1,1 M €	+4.9%	1,1 M €	+25.1%	840,4 k €	+0.0%	840,3 k €	-5.8%	892,2 k €	+3.3%	863,7 k €	+2.9%	839,4 k €	-7.9%	911,7 k €	+4.0%	876,7 k €	-6.6%	939,1 k €	+69.5%	554,1 k €
Cash	209,5 €	-99.0%	21,4 k €	+29.6%	16,5 k €	-10.0%	18,3 k €	-23.9%	24,1 k €	+20337%	117,9 €	-98.9%	11,1 k €	-91.1%	125,7 k €	-55.1%	280 k €	-17.7%	340,3 k €	+40.4%	242,4 k €	+111%	115,1 k €	+27.9%	90 k €	+148%	36,3 k €	-53.5%	77,9 k €	+29.7%	60,1 k €	+3.2%	58,2 k €	-19.1%	71,9 k €	+15.7%	62,2 k €	-16.0%	74 k €
Debts	–		245,9 k €	-4.0%	256,1 k €	-37.6%	410,3 k €	-7.6%	444,1 k €	+85.4%	239,6 k €	+6.2%	225,7 k €	+4.5%	216,1 k €	+615%	30,2 k €	+2.7%	29,4 k €	-94.0%	489,5 k €	+186%	171,1 k €	-34.1%	259,4 k €	+28.0%	202,6 k €	-41.2%	344,6 k €	+17.3%	293,8 k €	-26.3%	398,9 k €	-11.7%	451,9 k €	-3.2%	466,9 k €	+455%	84,2 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		3,3 ETP	+43.5%	2,3 ETP	0.0%	2,3 ETP	-14.8%	2,7 ETP	-18.2%	3,3 ETP	+17.9%	2,8 ETP	+7.7%	2,6 ETP	-21.2%	3,3 ETP	-19.5%	4,1 ETP	-8.9%	4,5 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 12 ended

Active mandates

Jacqueline Verstraeten

Director · since 01 avril 2021

Active

THEGEVE

Director · since 01 avril 2021 · 0445.984.422

Represented by René Theybers

Active

Ended mandates

Erwin Theybers

Director

Ended

Erwin Theybers

Administrator - manager · until 01 avril 2021

Ended

Erwin Theybers

Administrator - manager

Ended

Erwin Theybers

Associate

Ended

At this address

Other companies at this address

Company	CBE no.
Arthea● Active	0719.405.547
JUAMCA● Active	1001.902.706
PPG - TRADING● Active	0440.936.858
Sunic● Active	0449.988.641
THEGEVE● Active	0445.984.422
Vereniging van mede-eigenaars Residentie Sportlaan 13 te 3680 Maaseik, Sportlaan 13● Active	1012.655.551

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	14/08/2026	15/07/2025	18/07/2024	24/07/2023	19/07/2022	30/09/2021
General meeting	08/05/2026	05/06/2025	06/06/2024	04/06/2023	02/06/2022	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

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	08/05/2026	14/08/2026	Dutch	PDF
Micro model	31/12/2024	05/06/2025	15/07/2025	Dutch	PDF
Micro model	31/12/2023	06/06/2024	18/07/2024	Dutch	PDF
Micro model	31/12/2022	04/06/2023	24/07/2023	Dutch	PDF
Micro model	31/12/2021	02/06/2022	19/07/2022	Dutch	PDF
Micro model	31/12/2020	03/06/2021	30/09/2021	Dutch	PDF
Micro model	31/12/2019	08/09/2020	26/10/2020	Dutch	PDF
Abridged model	31/12/2018	06/06/2019	25/07/2019	Dutch	PDF
Abridged model	31/12/2017	07/06/2018	17/09/2018	Dutch	PDF
Micro model	31/12/2016	04/06/2017	31/08/2017	Dutch	PDF
Abridged model	31/12/2015	02/06/2016	25/08/2016	Dutch	PDF
Abridged model	31/12/2014	04/06/2015	26/08/2015	Dutch	PDF
Abridged model	31/12/2013	05/06/2014	08/09/2014	Dutch	PDF
Abridged model	31/12/2012	06/06/2013	26/08/2013	Dutch	PDF
Abridged model	31/12/2011	07/06/2012	07/08/2012	Dutch	PDF
Abridged model	31/12/2010	03/06/2011	30/08/2011	Dutch	PDF
Abridged model	31/12/2009	03/06/2010	26/08/2010	Dutch	PDF
Abridged model	31/12/2008	04/06/2009	26/08/2009	Dutch	PDF
Abridged model	31/12/2007	05/06/2008	28/07/2008	Dutch	PDF
Abridged model	31/12/2006	07/06/2007	29/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 · 2 active · 12 ended

Active mandates

Jacqueline Verstraeten

Director · since 01 avril 2021

Active

THEGEVE

Director · since 01 avril 2021 · 0445.984.422

Represented by René Theybers

Active

Ended mandates

Erwin Theybers

Director

Ended

Erwin Theybers

Administrator - manager · until 01 avril 2021

Ended

Erwin Theybers

Administrator - manager

Ended

Erwin Theybers

Associate

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other15/07/2026
—
PDF
Restructuring31/03/2026
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Registered office02/10/2025
MAATSCHAPPELIJKE ZETEL
PDF
Mandates21/05/2021
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares05/02/2019
KAPITAAL - AANDELEN
PDF
Registered office19/03/2018
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares06/01/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates12/01/2012
KAPITAAL - AANDELEN - 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 202513,3 k €↑
2024
Annual accounts 2024-122,6 k €↓
2023
Annual accounts 2023-110,7 k €↓
2022
Annual accounts 2022-44,5 k €↓
2021
Annual accounts 2021200,7 k €↑
2020
Annual accounts 202015,2 k €↓
2019
Annual accounts 201919,2 k €↑
2018
Annual accounts 2018-12,2 k €↓
2017
Annual accounts 2017-7,6 k €↓
2016
Annual accounts 201685,3 k €↑
2015
Annual accounts 2015-43,9 k €↓
2014
Annual accounts 201477,7 k €↑
2013
Annual accounts 201366,2 k €↑
2012
Annual accounts 201223,9 k €↑
2011
Annual accounts 2011-5 k €↓
2010
Annual accounts 201043,5 k €↓
2009
Annual accounts 200972,7 k €↑
2008
Annual accounts 2008-22,3 k €↓
2007
Annual accounts 2007-17,7 k €↓
2006
Annual accounts 200616,4 k €
21/06/1995
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

THERSA

Overview

What does THERSA 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