ThM
0476.738.370 · rovalta.com · 22/09/2026
NORMAL SITUATION
ThM
Financial year 2025 · closed on 31/12/2025
Net result
-14,1 k €
-100.0% YoY
Gross margin
10,4 k €
+320.9% YoY
Equity
-88,5 k €
-19.0% YoY
Company — Normal situation.
Strike-off: 29 juillet 2026
Overview
What does ThM do?
ThM is a Private limited company incorporated in 2002.
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0476.738.370
Incorporation
30/01/2002
Legal form
Private limited company
Contributed capital
18 600,00 €
Latest accounts
31/12/2025
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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 | 10,4 k € | +321% | -4,7 k € | -74.3% | -2,7 k € | -121% | 13,1 k € | -51.1% | 26,7 k € | +49.5% | 17,8 k € | -56.4% | 40,9 k € | +33.0% | 30,8 k € | +790% | 3,5 k € | +240% | -2,5 k € | +2.3% | -2,5 k € | +27.5% | -3,5 k € | +62.0% | -9,1 k € | -220% | 7,6 k € | -80.9% | 39,9 k € | +34.9% | 29,6 k € | +287% | -15,8 k € | -177% | -5,7 k € | -178% | -2,1 k € | -120% | 10,1 k € |
| EBITDA | -13,6 k € | -116% | -6,3 k € | -55.6% | -4,1 k € | -136% | 11,2 k € | -55.6% | 25,3 k € | +56.5% | 16,2 k € | -43.0% | 28,4 k € | -4.0% | 29,5 k € | +927% | 2,9 k € | +105% | -60,8 k € | -1720% | -3,3 k € | +11.3% | -3,8 k € | +59.7% | -9,3 k € | -232% | 7,1 k € | -82.0% | 39,4 k € | +36.7% | 28,8 k € | +276% | -16,4 k € | -176% | -5,9 k € | -146% | -2,4 k € | -125% | 9,5 k € |
| Operating result | -13,6 k € | -107% | -6,6 k € | +54.0% | -14,3 k € | -1411% | 1,1 k € | -92.8% | 15,2 k € | +169% | 5,6 k € | -68.6% | 18 k € | -15.3% | 21,3 k € | +638% | 2,9 k € | +200% | -2,9 k € | +13.7% | -3,3 k € | +15.6% | -4 k € | +58.5% | -9,5 k € | -225% | -2,9 k € | -110% | 30,7 k € | +69.9% | 18 k € | +123% | -77,5 k € | -847% | -8,2 k € | -71.9% | -4,8 k € | -167% | 7,1 k € |
| Net result | -14,1 k € | -100% | -7,1 k € | +52.3% | -14,8 k € | -3019% | 506,8 € | -96.5% | 14,7 k € | +183% | 5,2 k € | -70.2% | 17,4 k € | -36.4% | 27,4 k € | +864% | 2,8 k € | +198% | -2,9 k € | +18.0% | -3,5 k € | +11.1% | -4 k € | +62.4% | -10,5 k € | +53.3% | -22,5 k € | -190% | 25 k € | +317% | 6 k € | +107% | -80,1 k € | -436% | -14,9 k € | -23.7% | -12,1 k € | -387% | 4,2 k € |
| Balance sheet | |||||||||||||||||||||||||||||||||||||||
| Equity | -88,5 k € | -19.0% | -74,4 k € | -10.5% | -67,3 k € | -28.2% | -52,5 k € | +1.0% | -53 k € | +21.7% | -67,7 k € | +7.1% | -72,9 k € | +19.3% | -90,3 k € | +23.3% | -117,6 k € | +2.4% | -120,5 k € | -2.5% | -117,6 k € | -3.1% | -114,1 k € | -3.6% | -110,1 k € | -10.6% | -99,6 k € | -29.2% | -77,1 k € | +24.5% | -102,1 k € | +5.5% | -108 k € | -287% | -27,9 k € | -47.0% | -19 k € | -174% | -6,9 k € |
| Total assets | 5,5 k € | -81.9% | 30,5 k € | -1.6% | 31 k € | -54.5% | 68,2 k € | +24.9% | 54,6 k € | +32.1% | 41,3 k € | -27.5% | 57 k € | +35.0% | 42,2 k € | +638% | 5,7 k € | +279% | 1,5 k € | -63.0% | 4,1 k € | 0.0% | 4,1 k € | -71.7% | 14,4 k € | -63.5% | 39,5 k € | -4.6% | 41,5 k € | -42.3% | 71,8 k € | +1000% | 6,5 k € | -92.4% | 86,2 k € | +32.8% | 64,9 k € | -58.5% | 156,4 k € |
| Cash | 282,3 € | – | 35,2 € | +287% | 9,1 € | -66.1% | 26,8 € | -99.3% | 3,8 k € | -61.7% | 10 k € | +577% | 1,5 k € | +35442% | 4,2 € | – | – | – | – | 663,5 € | – | – | 1,2 k € | – | – | – | |||||||||||||
| Debts | 94 k € | -10.4% | 104,9 k € | +6.7% | 98,3 k € | -18.6% | 120,7 k € | +12.2% | 107,6 k € | -1.3% | 109 k € | -16.1% | 129,9 k € | -2.0% | 132,5 k € | +7.4% | 123,4 k € | +1.1% | 122 k € | +0.3% | 121,7 k € | +3.0% | 118,2 k € | -5.1% | 124,5 k € | -10.5% | 139,2 k € | +17.4% | 118,6 k € | -31.8% | 173,9 k € | +51.8% | 114,6 k € | +0.7% | 113,7 k € | +35.6% | 83,9 k € | -48.6% | 163,3 k € |
Governance
Board of directors
Seen on filing of 31/12/2025 · 1 active · 3 ended
Active mandates
Luc Adriaansen
ActiveEnded mandates
Luc Adriaansen
EndedLuc Adriaansen
EndedLuc Adriaansen
EndedFinancials
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 | 02/06/2026 | 03/06/2025 | 05/07/2024 | 27/07/2023 | 02/06/2022 | 01/06/2021 |
| General meeting | 29/05/2026 | 30/05/2025 | 31/05/2024 | 30/06/2023 | 27/05/2022 | 28/05/2021 |
| 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
Looking for more information about this company?
Try for 7 daysFilings
Annual accounts filings
20 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Micro model | 31/12/2025 | 29/05/2026 | 02/06/2026 | Dutch | |
| Micro model | 31/12/2024 | 30/05/2025 | 03/06/2025 | Dutch | |
| Micro model | 31/12/2023 | 31/05/2024 | 05/07/2024 | Dutch | |
| Micro model | 31/12/2022 | 30/06/2023 | 27/07/2023 | Dutch | |
| Micro model | 31/12/2021 | 27/05/2022 | 02/06/2022 | Dutch | |
| Micro model | 31/12/2020 | 28/05/2021 | 01/06/2021 | Dutch | |
| Micro model | 31/12/2019 | 29/05/2020 | 29/05/2020 | Dutch | |
| Micro model | 31/12/2018 | 31/05/2019 | 20/06/2019 | Dutch | |
| Micro model | 31/12/2017 | 25/05/2018 | 29/05/2018 | Dutch | |
| Micro model | 31/12/2016 | 26/05/2017 | 30/05/2017 | Dutch | |
| Abridged model | 31/12/2015 | 27/05/2016 | 25/07/2016 | Dutch | |
| Abridged model | 31/12/2014 | 29/05/2015 | 07/12/2015 | Dutch | |
| Abridged model | 31/12/2013 | 30/05/2014 | 18/12/2014 | Dutch | |
| Abridged model | 31/12/2012 | 31/05/2013 | 30/08/2013 | Dutch | |
| Abridged model | 31/12/2011 | 25/05/2012 | 28/08/2012 | Dutch | |
| Abridged model | 31/12/2010 | 27/05/2011 | 31/08/2011 | Dutch | |
| Abridged model | 31/12/2009 | 28/05/2010 | 30/08/2010 | Dutch | |
| Abridged model | 31/12/2008 | 29/05/2009 | 21/08/2009 | Dutch | |
| Abridged model | 31/12/2007 | 30/05/2008 | 28/08/2008 | Dutch | |
| Abridged model | 31/12/2006 | 25/05/2007 | 06/06/2007 | Dutch |
Valuation
Estimate
Indicative valuation
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.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Governance
Board of directors
Seen on filing of 31/12/2025 · 1 active · 3 ended
Active mandates
Luc Adriaansen
ActiveEnded mandates
Luc Adriaansen
EndedLuc Adriaansen
EndedLuc Adriaansen
EndedShareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
Source: Belgian Official Gazette
Similar companies
Competition
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 2025-14,1 k €↓
- 2024Annual accounts 2024-7,1 k €↑
- 2023Annual accounts 2023-14,8 k €↓
- 2022Annual accounts 2022506,8 €↓
- 2021Annual accounts 202114,7 k €↑
- 2020Annual accounts 20205,2 k €↓
- 2019Annual accounts 201917,4 k €↓
- 2018Annual accounts 201827,4 k €↑
- 2017Annual accounts 20172,8 k €↑
- 2016Annual accounts 2016-2,9 k €↑
- 2015Annual accounts 2015-3,5 k €↑
- 2014Annual accounts 2014-4 k €↑
- 2013Annual accounts 2013-10,5 k €↑
- 2012Annual accounts 2012-22,5 k €↓
- 2011Annual accounts 201125 k €↑
- 2010Annual accounts 20106 k €↑
- 2009Annual accounts 2009-80,1 k €↓
- 2008Annual accounts 2008-14,9 k €↓
- 2007Annual accounts 2007-12,1 k €↓
- 2006Annual accounts 20064,2 k €
- 30/01/2002IncorporationPrivate limited company