ACTIVE

THORAK

Export PDF

Financial year 2025 · closed on 31/12/2025

Net result

31,6 k €

+152.6% YoY

Gross margin

17,6 k €

-27.5% YoY

Equity

825,9 k €

+4.0% YoY

What does THORAK do?

THORAK is a Public limited company incorporated in 1999. Its main activity is: Management consultancy activities. Its registered office is in Tielt.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0466.345.712

Incorporation

24/06/1999

Legal form

Public limited company

Registered office

Wontergemstraat 3
8700 Tielt · FlandreSee on map

Contributed capital

400 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

Available with a Rovalta subscriptionTry for 7 days

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	17,6 k €	-27.5%	24,3 k €	-10.6%	27,2 k €	+32.1%	20,6 k €	-4.7%	21,6 k €	+20.7%	17,9 k €	-15.6%	21,2 k €	-5.7%	22,5 k €	+5.1%	21,4 k €	+38.3%	15,4 k €	+48.4%	10,4 k €	+118%	4,8 k €	-33.2%	7,1 k €	-12.1%	8,1 k €	-27.4%	11,2 k €	+37.7%	8,1 k €	+0.2%	8,1 k €	+19.4%	6,8 k €	-17.2%	8,2 k €	+11.7%	7,3 k €
EBITDA	16 k €	-30.4%	23 k €	-13.6%	26,7 k €	+34.0%	19,9 k €	-6.2%	21,2 k €	+25.1%	17 k €	-16.4%	20,3 k €	-6.3%	21,6 k €	+5.6%	20,5 k €	+40.5%	14,6 k €	+54.1%	9,5 k €	+119%	4,3 k €	-35.4%	6,7 k €	-12.9%	7,7 k €	-25.0%	10,2 k €	+42.7%	7,2 k €	+0.2%	7,2 k €	+22.5%	5,8 k €	-19.4%	7,2 k €	+13.4%	6,4 k €
Operating result	6,4 k €	-46.4%	12 k €	-23.1%	15,6 k €	+76.3%	8,9 k €	-12.9%	10,2 k €	-34.3%	15,5 k €	+14.7%	13,5 k €	-9.4%	14,9 k €	+8.4%	13,7 k €	+75.4%	7,8 k €	+189%	2,7 k €	-37.3%	4,3 k €	-35.4%	6,7 k €	-12.9%	7,7 k €	-24.0%	10,1 k €	+44.2%	7 k €	+0.7%	7 k €	+26.3%	5,5 k €	-24.0%	7,2 k €	+13.4%	6,4 k €
Net result	31,6 k €	+153%	12,5 k €	+11.6%	11,2 k €	-65.5%	32,5 k €	+363%	7 k €	-85.9%	50 k €	+457%	9 k €	-6.8%	9,6 k €	-0.3%	9,7 k €	+32.5%	7,3 k €	+64.9%	4,4 k €	-23.1%	5,8 k €	-3.2%	5,9 k €	-24.3%	7,9 k €	-11.7%	8,9 k €	+46.4%	6,1 k €	-23.1%	7,9 k €	-88.8%	70,7 k €	+5.0%	67,3 k €	+560%	10,2 k €
Balance sheet
Equity	825,9 k €	+4.0%	794,3 k €	+1.6%	781,7 k €	+1.5%	770,5 k €	+4.4%	738 k €	+1.0%	731 k €	+7.3%	681 k €	+1.3%	672 k €	+1.5%	662,3 k €	+1.5%	652,7 k €	+1.1%	645,4 k €	+0.7%	640,9 k €	+0.9%	635,2 k €	+0.9%	629,2 k €	+1.3%	621,4 k €	+1.5%	612,5 k €	+1.0%	606,4 k €	+1.3%	598,5 k €	-25.2%	799,8 k €	+9.2%	732,4 k €
Total assets	834 k €	+3.7%	804,5 k €	+1.7%	791,1 k €	+1.4%	780,4 k €	+4.3%	748,1 k €	+1.5%	736,7 k €	+7.6%	685 k €	+1.5%	675,2 k €	+0.2%	674,1 k €	+2.1%	660,4 k €	+1.4%	651,3 k €	+0.1%	650,7 k €	+0.8%	645,3 k €	+1.4%	636,4 k €	+1.3%	628,2 k €	+1.6%	618,4 k €	+1.1%	611,5 k €	-30.4%	878,6 k €	+9.0%	806,1 k €	+9.5%	736,2 k €
Cash	264,6 k €	+84.3%	143,5 k €	-38.0%	231,6 k €	+25.0%	185,2 k €	+9.9%	168,5 k €	+15.2%	146,2 k €	-1.6%	148,6 k €	+11.4%	133,3 k €	+12.8%	118,2 k €	+373%	25 k €	+29.4%	19,3 k €	+203%	6,4 k €	-84.3%	40,6 k €	-60.7%	103,4 k €	-6.8%	110,9 k €	+25.6%	88,3 k €	+8.7%	81,3 k €	+133%	34,9 k €	-87.4%	277,1 k €	+34.6%	205,8 k €
Debts	8,2 k €	-17.6%	9,9 k €	+13.3%	8,7 k €	-2.1%	8,9 k €	+1.0%	8,8 k €	+113%	4,2 k €	+2.5%	4,1 k €	+25.8%	3,2 k €	-72.6%	11,8 k €	+52.4%	7,7 k €	+29.6%	6 k €	-38.8%	9,8 k €	-3.6%	10,1 k €	+40.5%	7,2 k €	+5.2%	6,8 k €	+14.5%	6 k €	+16.4%	5,1 k €	-98.2%	280,1 k €	+4349%	6,3 k €	+65.3%	3,8 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 14 ended

Active mandates

Peter Haenebalcke

Director · since 30 juin 2023 · until 30 juin 2029

Active

Ended mandates

DE MOST

Director · since 30 juin 2017 · until 28 mai 2020 · 0435.898.796

Represented by Peter Haenebalcke

Ended

DE MOST

Director · since 30 juin 2017 · until 30 juin 2023 · 0435.898.796

Represented by Peter Haenebalcke

Ended

Liesbeth Haenebalcke

Director · since 30 juin 2017 · until 28 mai 2020

Ended

Liesbeth Haenebalcke

Director · since 30 juin 2017 · until 16 novembre 2020

Ended

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	20/07/2026	29/07/2025	24/07/2024	18/07/2023	27/07/2022	08/07/2021
General meeting	30/06/2026	30/06/2025	29/06/2024	30/06/2023	30/06/2022	30/06/2021
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

Looking for more information about this company?

Try for 7 days

Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	30/06/2026	20/07/2026	Dutch	PDF
Abridged model	31/12/2024	30/06/2025	29/07/2025	Dutch	PDF
Abridged model	31/12/2023	29/06/2024	24/07/2024	Dutch	PDF
Abridged model	31/12/2022	30/06/2023	18/07/2023	Dutch	PDF
Abridged model	31/12/2021	30/06/2022	27/07/2022	Dutch	PDF
Abridged model	31/12/2020	30/06/2021	08/07/2021	Dutch	PDF
Abridged modelCorrection	31/12/2019	30/06/2020	16/07/2020	Dutch	PDF
Abridged model	31/12/2019	30/06/2020	01/07/2020	Dutch	PDF
Abridged model	31/12/2018	28/06/2019	04/07/2019	Dutch	PDF
Abridged model	31/12/2017	30/06/2018	10/07/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	03/07/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	01/07/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	01/07/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	01/07/2014	Dutch	PDF
Abridged model	31/12/2012	30/06/2013	05/07/2013	Dutch	PDF
Abridged model	31/12/2011	30/06/2012	02/07/2012	Dutch	PDF
Abridged model	31/12/2010	30/06/2011	01/07/2011	Dutch	PDF
Abridged model	31/12/2009	30/06/2010	01/07/2010	Dutch	PDF
Abridged model	31/12/2008	30/06/2009	02/07/2009	Dutch	PDF
Abridged model	31/12/2007	30/06/2008	08/07/2008	Dutch	PDF
Abridged model	31/12/2006	30/06/2007	04/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 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 · 1 active · 14 ended

Active mandates

Peter Haenebalcke

Director · since 30 juin 2023 · until 30 juin 2029

Active

Ended mandates

DE MOST

Director · since 30 juin 2017 · until 28 mai 2020 · 0435.898.796

Represented by Peter Haenebalcke

Ended

DE MOST

Director · since 30 juin 2017 · until 30 juin 2023 · 0435.898.796

Represented by Peter Haenebalcke

Ended

Liesbeth Haenebalcke

Director · since 30 juin 2017 · until 28 mai 2020

Ended

Liesbeth Haenebalcke

Director · since 30 juin 2017 · until 16 novembre 2020

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates11/09/2023
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/11/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DOEL - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Mandates30/07/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/07/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/08/2011
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/09/2005
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/07/2005
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 202531,6 k €↑
2024
Annual accounts 202412,5 k €↑
2023
Annual accounts 202311,2 k €↓
2022
Annual accounts 202232,5 k €↑
2021
Annual accounts 20217 k €↓
2020
Annual accounts 202050 k €↑
2019
Annual accounts 20199 k €↓
2018
Annual accounts 20189,6 k €↓
2017
Annual accounts 20179,7 k €↑
2016
Annual accounts 20167,3 k €↑
2015
Annual accounts 20154,4 k €↓
2014
Annual accounts 20145,8 k €↓
2013
Annual accounts 20135,9 k €↓
2012
Annual accounts 20127,9 k €↓
2011
Annual accounts 20118,9 k €↑
2010
Annual accounts 20106,1 k €↓
2009
Annual accounts 20097,9 k €↓
2008
Annual accounts 200870,7 k €↑
2007
Annual accounts 200767,3 k €↑
2006
Annual accounts 200610,2 k €
24/06/1999
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

THORAK

Overview

What does THORAK do?

Trend over 20 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