ACTIVE

THIEL

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Financial year 2025 · closed on 31/12/2025

Net result

152,9 k €

+38.9% YoY

Gross margin

325,7 k €

+53.3% YoY

Equity

371,5 k €

-16.8% YoY

What does THIEL do?

THIEL is a Private limited company incorporated in 2002. Its main activity is: Legal activities. Its registered office is in Schaerbeek.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0477.027.192

Incorporation

07/03/2002

Legal form

Private limited company

Registered office

Avenue Georges Eekhoud 18
1030 Schaerbeek · BruxellesSee on map

Contributed capital

12 860,00 €

Latest accounts

31/12/2025

Activities (NACE)

69101Legal activities· main 69101Legal activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	325,7 k €	+53.3%	212,5 k €	+166%	79,8 k €	-53.5%	171,6 k €	+21.1%	141,7 k €	-2.7%	145,7 k €	+20.5%	120,8 k €	-22.0%	154,9 k €	-3.7%	160,8 k €	-52.3%	337,1 k €	+182%	119,7 k €	-68.9%	384,7 k €	-0.7%	387,6 k €	-9.3%	427,5 k €	+12.7%	379,2 k €	+9.0%	347,8 k €	+30.0%	267,5 k €	-15.5%	316,5 k €	+37.2%	230,6 k €	+31.2%	175,7 k €
EBITDA	320,1 k €	+51.5%	211,3 k €	+176%	76,4 k €	-54.4%	167,6 k €	+21.0%	138,6 k €	-2.7%	142,5 k €	+21.5%	117,2 k €	-22.8%	151,8 k €	-0.9%	153,1 k €	-53.9%	332,5 k €	+187%	115,8 k €	-69.6%	380,4 k €	-0.8%	383,6 k €	-9.5%	424,1 k €	+12.5%	376,9 k €	+9.1%	345,5 k €	+30.2%	265,4 k €	-15.8%	315,1 k €	+37.5%	229,2 k €	+31.6%	174,2 k €
Operating result	247,6 k €	+74.5%	141,9 k €	+1321%	10 k €	-90.3%	102,6 k €	+1.7%	100,9 k €	+20.7%	83,6 k €	+59.5%	52,4 k €	-35.9%	81,7 k €	-3.5%	84,7 k €	-68.5%	269 k €	+389%	55 k €	-82.5%	315,3 k €	+0.5%	313,8 k €	-11.1%	353,2 k €	+15.5%	305,8 k €	+4.4%	293 k €	+38.0%	212,3 k €	-17.8%	258,4 k €	+30.2%	198,5 k €	+40.6%	141,2 k €
Net result	152,9 k €	+38.9%	110,1 k €	+1072%	9,4 k €	-88.1%	79,1 k €	+1.7%	77,7 k €	+90.1%	40,9 k €	-15.4%	48,3 k €	-24.3%	63,8 k €	-30.5%	91,9 k €	-59.3%	225,7 k €	+529%	35,9 k €	-82.3%	203,1 k €	-0.7%	204,6 k €	-12.1%	232,8 k €	+13.1%	205,8 k €	+4.8%	196,5 k €	+38.5%	141,8 k €	-18.5%	174 k €	+38.5%	125,6 k €	+33.1%	94,4 k €
Balance sheet
Equity	371,5 k €	-16.8%	446,3 k €	+9.0%	409,5 k €	-30.0%	585,1 k €	-2.0%	597,1 k €	-17.0%	719,3 k €	+2.0%	705,4 k €	+7.4%	657,1 k €	-51.6%	1,4 M €	+7.3%	1,3 M €	-5.3%	1,3 M €	+2.8%	1,3 M €	+201%	432,9 k €	-61.6%	1,1 M €	+13.3%	995,4 k €	+20.7%	824,6 k €	+23.3%	668,6 k €	+17.9%	567,3 k €	+32.6%	427,8 k €	+35.5%	315,7 k €
Total assets	694,1 k €	+1.4%	684,4 k €	+10.6%	618,8 k €	-8.8%	678,3 k €	-9.5%	749,2 k €	-2.8%	770,4 k €	+6.9%	720,5 k €	-33.5%	1,1 M €	-24.3%	1,4 M €	-14.7%	1,7 M €	+14.7%	1,5 M €	-6.5%	1,6 M €	+2.9%	1,5 M €	+5.1%	1,4 M €	+14.4%	1,3 M €	+11.3%	1,1 M €	+13.5%	1 M €	+4.9%	955,2 k €	+18.0%	809,5 k €	+21.5%	666,3 k €
Cash	323,8 k €	+78.7%	181,1 k €	+348%	40,4 k €	-37.5%	64,7 k €	+38.5%	46,7 k €	-45.1%	85,1 k €	+20.4%	70,6 k €	-45.8%	130,4 k €	+32.7%	98,3 k €	-25.9%	132,7 k €	-14.8%	155,8 k €	-32.3%	230,1 k €	+63.3%	140,9 k €	-64.4%	396,3 k €	+137%	167,2 k €	-31.0%	242,2 k €	+254%	68,4 k €	+41.9%	48,2 k €	+502%	8 k €	-91.8%	97,1 k €
Debts	322,6 k €	+35.5%	238,1 k €	+13.8%	209,2 k €	+124%	93,2 k €	-38.7%	152,2 k €	+198%	51,1 k €	+240%	15 k €	-96.5%	426,3 k €	+482%	73,3 k €	-82.2%	412,2 k €	+224%	127 k €	-52.0%	264,6 k €	-75.7%	1,1 M €	+241%	319,4 k €	+18.1%	270,5 k €	-13.6%	313,2 k €	-6.1%	333,6 k €	-14.0%	387,9 k €	+1.7%	381,6 k €	+8.8%	350,6 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

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

Active mandates

PATRICK THIEL

Director

Active

Ended mandates

PATRICK THIEL

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	13/07/2026	26/08/2025	29/08/2024	28/08/2023	29/09/2022	31/08/2021
General meeting	08/06/2026	10/06/2025	10/06/2024	12/06/2023	13/06/2022	14/06/2021
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	08/06/2026	13/07/2026	French	PDF
Micro model	31/12/2024	10/06/2025	26/08/2025	French	PDF
Micro model	31/12/2023	10/06/2024	29/08/2024	French	PDF
Micro model	31/12/2022	12/06/2023	28/08/2023	French	PDF
Micro model	31/12/2021	13/06/2022	29/09/2022	French	PDF
Micro model	31/12/2020	14/06/2021	31/08/2021	French	PDF
Micro model	31/12/2019	08/06/2020	29/07/2020	French	PDF
Micro model	31/12/2018	11/06/2019	07/10/2019	French	PDF
Micro model	31/12/2017	11/06/2018	24/07/2018	French	PDF
Micro model	31/12/2016	12/06/2017	13/11/2017	French	PDF
Abridged model	31/12/2015	13/06/2016	07/12/2016	French	PDF
Abridged model	31/12/2014	08/06/2015	29/09/2015	French	PDF
Abridged model	31/12/2013	10/06/2014	02/07/2014	French	PDF
Abridged model	31/12/2012	10/06/2013	30/08/2013	French	PDF
Abridged model	31/12/2011	11/06/2012	09/08/2012	French	PDF
Abridged model	31/12/2010	14/06/2011	29/08/2011	French	PDF
Abridged model	31/12/2009	14/06/2010	05/10/2010	French	PDF
Abridged model	31/12/2008	08/06/2009	17/09/2009	French	PDF
Abridged model	31/12/2007	09/06/2008	23/07/2008	French	PDF
Abridged model	31/12/2006	11/06/2007	31/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 1 ended

Active mandates

PATRICK THIEL

Director

Active

Ended mandates

PATRICK THIEL

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates05/04/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DENOMINATION - DIVERS - DEMISSIONS, NOMINATIONS
PDF
Capital / shares10/10/2018
CAPITAL, ACTIONS
PDF
Capital / shares17/04/2014
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Registered office27/08/2008
SIEGE SOCIAL - OBJET - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Capital / shares27/01/2005
CAPITAL, ACTIONS - ASSEMBLEE GENERALE - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
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 2025152,9 k €↑
2024
Annual accounts 2024110,1 k €↑
2023
Annual accounts 20239,4 k €↓
2022
Annual accounts 202279,1 k €↑
2021
Annual accounts 202177,7 k €↑
2020
Annual accounts 202040,9 k €↓
2019
Annual accounts 201948,3 k €↓
2018
Annual accounts 201863,8 k €↓
2017
Annual accounts 201791,9 k €↓
2016
Annual accounts 2016225,7 k €↑
2015
Annual accounts 201535,9 k €↓
2014
Annual accounts 2014203,1 k €↓
2013
Annual accounts 2013204,6 k €↓
2012
Annual accounts 2012232,8 k €↑
2011
Annual accounts 2011205,8 k €↑
2010
Annual accounts 2010196,5 k €↑
2009
Annual accounts 2009141,8 k €↓
2008
Annual accounts 2008174 k €↑
2007
Annual accounts 2007125,6 k €↑
2006
Annual accounts 200694,4 k €
07/03/2002
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

THIEL

Overview

What does THIEL 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