ACTIVE

ITEMA

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Financial year 2025 · closed on 31/12/2025

Net result

386,1 k €

-34.4% YoY

Gross margin

674,9 k €

-29.2% YoY

Equity

1,3 M €

+42.1% YoY

What does ITEMA do?

ITEMA is a Public limited company incorporated in 2001. Its registered office is in Forest.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0475.394.822

Incorporation

30/07/2001

Legal form

Public limited company

Registered office

Rue des Alliés 216 box 11
1190 Forest · BruxellesSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	674,9 k €	-29.2%	953,1 k €	+152%	378,4 k €	+219%	118,6 k €	+65.9%	71,5 k €	-17.4%	86,6 k €	-9.8%	96 k €	-58.6%	231,5 k €	+5.2%	220,2 k €	-0.1%	220,4 k €	-2.8%	226,9 k €	+2.1%	222,3 k €	+18.0%	188,3 k €	+4.4%	180,4 k €	+5.3%	171,3 k €	+3.6%	165,4 k €	+45.2%	113,9 k €	+61.5%	70,5 k €	+25.0%	56,4 k €	-43.1%	99,2 k €
EBITDA	588,4 k €	-32.5%	871,6 k €	+246%	252 k €	+375%	53,1 k €	+134%	22,6 k €	-14.7%	26,5 k €	-29.5%	37,6 k €	-77.9%	170,6 k €	+6.1%	160,8 k €	-0.7%	161,8 k €	-4.0%	168,6 k €	+0.4%	167,9 k €	+22.0%	137,6 k €	+5.1%	131 k €	+5.8%	123,8 k €	+4.0%	119,1 k €	+75.5%	67,8 k €	+138%	28,5 k €	+68.9%	16,9 k €	-72.5%	61,3 k €
Operating result	587,9 k €	-32.4%	869,3 k €	+259%	242,2 k €	+365%	52,1 k €	+132%	22,5 k €	-15.3%	26,5 k €	-29.5%	37,6 k €	-77.9%	170,6 k €	+6.1%	160,8 k €	-0.7%	161,8 k €	-4.0%	168,6 k €	+0.4%	167,9 k €	+22.0%	137,6 k €	+5.1%	131 k €	+6.5%	123 k €	+3.3%	119,1 k €	+76.3%	67,5 k €	+142%	27,9 k €	+71.5%	16,3 k €	-73.2%	60,7 k €
Net result	386,1 k €	-34.4%	588,1 k €	+233%	176,4 k €	+379%	36,8 k €	+110%	17,5 k €	-5.0%	18,4 k €	-26.0%	24,9 k €	-79.0%	118,6 k €	+51.1%	78,5 k €	-24.5%	104,1 k €	-72.9%	384,1 k €	+62.6%	236,2 k €	-60.5%	597,4 k €	-13.9%	693,7 k €	+118%	317,6 k €	+40.8%	225,5 k €	+43.6%	157,1 k €	+128%	68,9 k €	+132%	29,8 k €	-75.7%	122,7 k €
Balance sheet
Equity	1,3 M €	+42.1%	903,9 k €	+183%	319,8 k €	+43.1%	223,5 k €	0.0%	223,5 k €	+4.5%	213,8 k €	+9.4%	195,4 k €	+1.6%	192,3 k €	+161%	73,7 k €	-8.1%	80,1 k €	+5.4%	76,1 k €	+5.7%	72 k €	+1.8%	70,7 k €	-15.2%	83,4 k €	-73.5%	314,7 k €	+0.8%	312,1 k €	+1.8%	306,5 k €	-19.9%	382,9 k €	+12.3%	341 k €	+5.5%	323,2 k €
Total assets	2,2 M €	-18.6%	2,6 M €	+12.4%	2,4 M €	+238%	697,9 k €	+6.6%	654,5 k €	+0.7%	649,9 k €	+0.9%	643,9 k €	-4.7%	675,3 k €	+8.6%	622 k €	-10.1%	691,6 k €	+3.3%	669,4 k €	+0.0%	669,3 k €	-8.6%	732,5 k €	+3.1%	710,7 k €	+1.5%	700,1 k €	+4.4%	670,4 k €	-1.9%	683,5 k €	+1.5%	673,5 k €	-4.5%	705,1 k €	+2.0%	691 k €
Cash	1,7 M €	+31.9%	1,3 M €	+31.4%	980,5 k €	+14559%	6,7 k €	-14.2%	7,8 k €	+1077%	662,7 €	-87.0%	5,1 k €	+62.8%	3,1 k €	+79.9%	1,7 k €	-56.6%	4 k €	+791%	449,1 €	-63.8%	1,2 k €	-96.0%	31,4 k €	+158%	12,2 k €	+67.3%	7,3 k €	+452%	1,3 k €	-17.4%	1,6 k €	-35.6%	2,5 k €	+1.0%	2,5 k €	-81.0%	12,9 k €
Debts	872,6 k €	-50.0%	1,7 M €	-14.3%	2 M €	+329%	474,4 k €	+10.1%	431 k €	-1.2%	436,1 k €	+1.3%	430,5 k €	-10.9%	483 k €	-11.9%	548,3 k €	-10.3%	611,5 k €	+3.1%	593,3 k €	-0.7%	597,4 k €	-9.7%	661,8 k €	+5.5%	627,3 k €	+62.8%	385,4 k €	+7.6%	358,3 k €	-4.9%	376,9 k €	+29.7%	290,5 k €	-20.1%	363,8 k €	-1.1%	367,8 k €
Other
Workforce	–		–		–		–		–		–		–		–		1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 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 · 3 active · 11 ended

Active mandates

AURELIE DENAYER

Director · since 27 juin 2025 · until 27 juin 2031

Active

JEAN DENAYER

Managing director · since 27 juin 2025 · until 27 juin 2031

Active

YANNICK DENAYER

Director · since 27 juin 2025 · until 27 juin 2031

Active

Ended mandates

AURELIE DENAYER

Director · since 21 juin 2019 · until 21 juin 2025

Ended

YANNICK DENAYER

Director · since 21 juin 2019 · until 21 juin 2025

Ended

JEAN DENAYER

Managing director · since 11 septembre 2018 · until 11 septembre 2024

Ended

NICOLE CARDON

Director · since 11 septembre 2018 · until 31 décembre 2021

Ended

At this address

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Herd Communications● Active	0795.390.892
HOUSED● Active	1007.237.310
SPRL ARTIPROD● Active	0598.709.041

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	14/07/2026	23/07/2025	03/07/2024	19/07/2023	14/07/2022	27/08/2021
General meeting	26/06/2026	27/06/2025	28/06/2024	23/06/2023	17/06/2022	03/08/2021
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	26/06/2026	14/07/2026	French	PDF
Micro model	31/12/2024	27/06/2025	23/07/2025	French	PDF
Micro model	31/12/2023	28/06/2024	03/07/2024	French	PDF
Micro model	31/12/2022	23/06/2023	19/07/2023	French	PDF
Micro model	31/12/2021	17/06/2022	14/07/2022	French	PDF
Micro model	31/12/2020	03/08/2021	27/08/2021	French	PDF
Micro modelCorrection	31/12/2019	20/06/2020	05/08/2020	French	PDF
Micro model	31/12/2019	20/06/2020	23/07/2020	French	PDF
Micro model	31/12/2018	21/06/2019	27/06/2019	French	PDF
Abridged model	31/12/2017	15/06/2018	19/06/2018	French	PDF
Abridged model	31/12/2016	18/03/2017	15/06/2017	French	PDF
Abridged model	31/12/2015	19/03/2016	24/05/2016	French	PDF
Abridged model	31/12/2014	14/02/2015	21/05/2015	French	PDF
Abridged model	31/12/2013	15/02/2014	18/02/2014	French	PDF
Abridged model	31/12/2012	26/02/2013	05/03/2013	French	PDF
Abridged model	31/12/2011	15/06/2012	21/06/2012	French	PDF
Abridged model	31/12/2010	17/06/2011	05/07/2011	French	PDF
Abridged model	31/12/2009	18/06/2010	22/06/2010	French	PDF
Abridged model	31/12/2008	19/06/2009	23/06/2009	French	PDF
Abridged model	31/12/2007	20/06/2008	01/07/2008	French	PDF
Abridged model	31/12/2006	22/06/2007	10/07/2007	French	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 · 3 active · 11 ended

Active mandates

AURELIE DENAYER

Director · since 27 juin 2025 · until 27 juin 2031

Active

JEAN DENAYER

Managing director · since 27 juin 2025 · until 27 juin 2031

Active

YANNICK DENAYER

Director · since 27 juin 2025 · until 27 juin 2031

Active

Ended mandates

AURELIE DENAYER

Director · since 21 juin 2019 · until 21 juin 2025

Ended

YANNICK DENAYER

Director · since 21 juin 2019 · until 21 juin 2025

Ended

JEAN DENAYER

Managing director · since 11 septembre 2018 · until 11 septembre 2024

Ended

NICOLE CARDON

Director · since 11 septembre 2018 · until 31 décembre 2021

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates17/09/2025
DEMISSIONS, NOMINATIONS
PDF
Restructuring25/10/2023
DENOMINATION - OBJET - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring01/08/2023
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates25/10/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates04/07/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates14/02/2019
DEMISSIONS, NOMINATIONS - SIEGE SOCIAL
PDF
Mandates01/10/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates17/04/2013
DEMISSIONS, NOMINATIONS
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 2025386,1 k €↓
2024
Annual accounts 2024588,1 k €↑
2024
Name changeITEMA SA
2023
Annual accounts 2023176,4 k €↑
2023
Name changeITEMA (new)
2022
Annual accounts 202236,8 k €↑
2021
Annual accounts 202117,5 k €↓
2021
Name changeTDMC
2020
Annual accounts 202018,4 k €↓
2019
Annual accounts 201924,9 k €↓
2018
Annual accounts 2018118,6 k €↑
2017
Annual accounts 201778,5 k €↓
2016
Annual accounts 2016104,1 k €↓
2015
Annual accounts 2015384,1 k €↑
2014
Annual accounts 2014236,2 k €↓
2013
Annual accounts 2013597,4 k €↓
2012
Annual accounts 2012693,7 k €↑
2011
Annual accounts 2011317,6 k €↑
2010
Annual accounts 2010225,5 k €↑
2009
Annual accounts 2009157,1 k €↑
2008
Annual accounts 200868,9 k €↑
2007
Annual accounts 200729,8 k €↓
2006
Annual accounts 2006122,7 k €
2006
Name changeT.D.M.C.
30/07/2001
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

ITEMA

Overview

What does ITEMA 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