ACTIVE

DR. M. THONON

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Financial year 2025 · closed on 31/12/2025

Net result

301,3 k €

+18.3% YoY

Gross margin

450 k €

+29.7% YoY

Equity

1,8 M €

+19.9% YoY

What does DR. M. THONON do?

DR. M. THONON is a Private limited company incorporated in 1996. Its main activity is: Specialist medical practice activities. Its registered office is in Leuven.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0458.118.924

Incorporation

30/05/1996

Legal form

Private limited company

Registered office

Boskouter 7
3010 Leuven · FlandreSee on map

Contributed capital

37 200,00 €

Latest accounts

31/12/2025

Activities (NACE)

86220Specialist medical practice activities· main 86220Specialist medical practice activities

Joint committees (2)

30502
330

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	450 k €	+29.7%	346,9 k €	-11.6%	392,2 k €	+5.4%	372,2 k €	-10.2%	414,4 k €	+55.9%	265,8 k €	-11.8%	301,4 k €	-52.3%	631,8 k €	+408%	124,3 k €	-27.4%	171,3 k €	-29.9%	244,5 k €	-40.6%	411,3 k €	-10.3%	458,6 k €	-4.0%	477,8 k €	+0.1%	477,4 k €	+32.0%	361,5 k €	+14.6%	315,6 k €	-1.6%	320,6 k €	-18.9%	395,4 k €
EBITDA	446 k €	+30.0%	342,9 k €	-11.0%	385,1 k €	+5.1%	366,5 k €	-10.3%	408,4 k €	+57.2%	259,8 k €	-11.3%	293 k €	-46.7%	550,1 k €	+437%	102,4 k €	+7.4%	95,4 k €	-44.0%	170,3 k €	-45.5%	312,6 k €	-18.6%	384,1 k €	-6.4%	410,4 k €	-1.6%	416,9 k €	+33.8%	311,6 k €	+12.7%	276,5 k €	-2.5%	283,6 k €	-21.7%	362,2 k €
Operating result	383,5 k €	+28.9%	297,5 k €	-5.7%	315,4 k €	+4.5%	301,8 k €	-18.2%	368,8 k €	+67.0%	220,8 k €	-13.5%	255,2 k €	-50.2%	512,5 k €	+2631%	18,8 k €	+270%	5,1 k €	-91.3%	58,3 k €	-67.1%	177,2 k €	-31.0%	256,9 k €	-14.9%	301,9 k €	-4.2%	315,2 k €	+50.2%	209,9 k €	+17.7%	178,3 k €	-12.8%	204,3 k €	-27.3%	280,9 k €
Net result	301,3 k €	+18.3%	254,7 k €	+33.2%	191,3 k €	-11.5%	216,1 k €	-16.1%	257,4 k €	+118%	118 k €	-28.6%	165,2 k €	+998%	15 k €	-72.6%	54,9 k €	+15969%	341,5 €	+101%	-26,4 k €	-115%	172 k €	+14.2%	150,7 k €	-12.1%	171,4 k €	-17.7%	208,2 k €	+66.4%	125,1 k €	+34.1%	93,3 k €	-28.0%	129,6 k €	+41.7%	91,4 k €
Balance sheet
Equity	1,8 M €	+19.9%	1,5 M €	+3.6%	1,5 M €	+15.0%	1,3 M €	-4.2%	1,3 M €	+24.1%	1,1 M €	-4.1%	1,1 M €	+17.4%	950 k €	-54.3%	2,1 M €	+2.7%	2 M €	+0.0%	2 M €	-1.3%	2 M €	+9.2%	1,9 M €	+7.2%	1,8 M €	+10.9%	1,6 M €	+15.2%	1,4 M €	+10.0%	1,2 M €	+8.1%	1,2 M €	+12.7%	1 M €
Total assets	2,7 M €	+19.1%	2,2 M €	+4.1%	2,2 M €	+3.8%	2,1 M €	+13.8%	1,8 M €	+7.0%	1,7 M €	+0.4%	1,7 M €	+0.7%	1,7 M €	-36.2%	2,6 M €	-3.4%	2,7 M €	-8.6%	3 M €	-7.7%	3,2 M €	+16.5%	2,8 M €	+3.5%	2,7 M €	+9.1%	2,5 M €	+8.0%	2,3 M €	-0.5%	2,3 M €	+3.9%	2,2 M €	+6.7%	2,1 M €
Cash	393,1 k €	+182%	139,3 k €	+46.0%	95,4 k €	+57.4%	60,6 k €	-47.2%	114,8 k €	+75.3%	65,5 k €	-12.4%	74,7 k €	+17.6%	63,6 k €	-84.0%	397,4 k €	+917%	39,1 k €	-21.9%	50 k €	-87.5%	398,5 k €	+124%	177,7 k €	+172%	65,4 k €	-86.5%	484,7 k €	+95.9%	247,4 k €	+45.1%	170,5 k €	-10.2%	189,8 k €	+760%	22,1 k €
Debts	851,2 k €	+17.6%	724,1 k €	+5.0%	689,7 k €	-14.0%	802,1 k €	+62.0%	495,1 k €	-21.8%	633,3 k €	+44.0%	439,7 k €	-25.8%	592,9 k €	+5.1%	564,4 k €	-20.6%	710,6 k €	-26.6%	967,5 k €	-18.8%	1,2 M €	+31.8%	904 k €	-3.0%	932 k €	+6.1%	878,6 k €	-2.9%	904,9 k €	-13.2%	1 M €	-0.6%	1 M €	+0.4%	1 M €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		1,6 ETP	-20.0%	2,0 ETP	-4.8%	2,1 ETP	0.0%	2,1 ETP	+5.0%	2,0 ETP	+17.6%	1,7 ETP	+21.4%	1,4 ETP	0.0%	1,4 ETP	0.0%	1,4 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 6 ended

Active mandates

Marleen THONON

Director · since 27 octobre 2023

Active

Ended mandates

KOENRAAD BROUWERS

Manager · since 01 mars 2005 · until 01 mars 2025

Ended

MARLEEN THONON

Manager · since 01 mars 2005 · until 01 mars 2025

Ended

Marleen Thonon

Director · since 30 mai 1996

Ended

KOENRAAD BROUWERS

Manager

Ended

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	16/06/2026	18/07/2025	01/08/2024	30/08/2023	24/08/2022	30/07/2021
General meeting	28/05/2026	22/05/2025	23/05/2024	25/05/2023	27/05/2022	27/05/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	28/05/2026	16/06/2026	Dutch	PDF
Micro model	31/12/2024	22/05/2025	18/07/2025	Dutch	PDF
Micro model	31/12/2023	23/05/2024	01/08/2024	Dutch	PDF
Micro model	31/12/2022	25/05/2023	30/08/2023	Dutch	PDF
Micro model	31/12/2021	27/05/2022	24/08/2022	Dutch	PDF
Micro model	31/12/2020	27/05/2021	30/07/2021	Dutch	PDF
Micro model	31/12/2019	06/08/2020	18/08/2020	Dutch	PDF
Micro model	31/12/2018	23/05/2019	30/08/2019	Dutch	PDF
Micro model	31/12/2017	14/06/2018	18/07/2018	Dutch	PDF
Micro model	31/12/2016	16/06/2017	04/07/2017	Dutch	PDF
Abridged model	31/12/2015	26/05/2016	30/08/2016	Dutch	PDF
Abridged model	31/12/2014	28/05/2015	25/08/2015	Dutch	PDF
Abridged model	31/12/2013	12/06/2014	30/07/2014	Dutch	PDF
Abridged model	31/12/2012	13/06/2013	24/07/2013	Dutch	PDF
Abridged model	31/12/2011	24/05/2012	27/07/2012	Dutch	PDF
Abridged modelCorrection	31/12/2010	26/05/2011	30/08/2011	Dutch	PDF
Abridged model	31/12/2010	26/05/2011	26/07/2011	Dutch	PDF
Abridged model	31/12/2009	27/05/2010	24/09/2010	Dutch	PDF
Abridged model	31/12/2008	28/05/2009	21/08/2009	Dutch	PDF
Abridged model	31/12/2007	22/05/2008	18/06/2008	Dutch	PDF
Abridged model	31/12/2006	24/05/2007	23/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 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 · 6 ended

Active mandates

Marleen THONON

Director · since 27 octobre 2023

Active

Ended mandates

KOENRAAD BROUWERS

Manager · since 01 mars 2005 · until 01 mars 2025

Ended

MARLEEN THONON

Manager · since 01 mars 2005 · until 01 mars 2025

Ended

Marleen Thonon

Director · since 30 mai 1996

Ended

KOENRAAD BROUWERS

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates03/11/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares22/01/2019
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates06/01/2016
BENAMING - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares04/02/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Other31/07/2012
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Restructuring31/07/2012
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring08/05/2012
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates08/03/2005
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 2025301,3 k €↑
2024
Annual accounts 2024254,7 k €↑
2023
Annual accounts 2023191,3 k €↓
2022
Annual accounts 2022216,1 k €↓
2021
Annual accounts 2021257,4 k €↑
2020
Annual accounts 2020118 k €↓
2019
Annual accounts 2019165,2 k €↑
2018
Annual accounts 201815 k €↓
2017
Annual accounts 201754,9 k €↑
2016
Annual accounts 2016341,5 €↑
2015
Annual accounts 2015-26,4 k €↓
2015
Name changeDR. M. THONON
2014
Annual accounts 2014172 k €↑
2013
Annual accounts 2013150,7 k €↓
2011
Annual accounts 2011171,4 k €↓
2010
Annual accounts 2010208,2 k €↑
2009
Annual accounts 2009125,1 k €↑
2008
Annual accounts 200893,3 k €↓
2007
Annual accounts 2007129,6 k €↑
2006
Annual accounts 200691,4 k €
2006
Name changeDR. BROUWERS - THONON
30/05/1996
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

DR. M. THONON

Overview

What does DR. M. THONON do?

Trend over 19 financial years

Indicative valuation

Board of directors

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