ACTIVE

SPODEN TH.

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Financial year 2025 · closed on 30/09/2025

Net result

281,3 k €

-14.8% YoY

Gross margin

714,1 k €

-4.3% YoY

Equity

2,4 M €

+13.0% YoY

Workforce

3,6 ETP

+16.1% YoY

What does SPODEN TH. do?

SPODEN TH. is a Private limited company incorporated in 2002. Its main activity is: Wholesale of grain, unmanufactured tobacco, seeds and animal feeds. Its registered office is in Amel. It employs on average 3,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0478.982.535

Incorporation

13/12/2002

Legal form

Private limited company

Registered office

Montenau,Am Bahnhof 32
4770 Amel · WallonieSee on map

Contributed capital

92 694,90 €

Latest accounts

30/09/2025

Average workforce

3,6 ETP

Activities (NACE)

46216Wholesale of grain, unmanufactured tobacco, seeds and animal feeds· main 46216Wholesale of grain, unmanufactured tobacco, seeds and animal feeds 51210Freight air transport 51210Freight air transport

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	714,1 k €	-4.3%	746,3 k €	-13.6%	863,6 k €	-12.4%	985,3 k €	+44.7%	681,1 k €	+23.5%	551,7 k €	+25.0%	441,2 k €	+40.7%	313,7 k €	+4.2%	301,1 k €	-21.6%	383,9 k €	+13.5%	338,1 k €	+23.2%	274,5 k €	-17.6%	333,2 k €	-6.2%	355 k €	+15.7%	306,8 k €	-4.5%	321,2 k €	+31.4%	244,3 k €	+36.8%	178,6 k €	+17.0%	152,7 k €
EBITDA	485,6 k €	-12.1%	552,2 k €	-20.4%	693,8 k €	-16.6%	831,5 k €	+60.0%	519,7 k €	+21.9%	426,2 k €	+31.4%	324,2 k €	+40.6%	230,7 k €	+2.7%	224,5 k €	-29.0%	316,4 k €	+12.1%	282,2 k €	+28.3%	219,9 k €	-21.9%	281,5 k €	-8.3%	307 k €	+14.0%	269,4 k €	-2.7%	277 k €	+36.6%	202,7 k €	+42.6%	142,1 k €	+8.9%	130,5 k €
Operating result	380,3 k €	-18.7%	468,1 k €	-20.8%	590,7 k €	-13.8%	684,9 k €	+68.7%	406 k €	+29.3%	314 k €	+54.6%	203 k €	+63.6%	124,1 k €	-12.0%	141 k €	-36.6%	222,3 k €	+31.6%	168,9 k €	+26.5%	133,5 k €	-10.5%	149,3 k €	-21.3%	189,6 k €	-14.8%	222,5 k €	+5.7%	210,5 k €	+38.7%	151,7 k €	+107%	73,2 k €	+12.2%	65,2 k €
Net result	281,3 k €	-14.8%	330,4 k €	-15.0%	388,6 k €	-20.8%	490,9 k €	+77.0%	277,3 k €	+17.8%	235,5 k €	+67.8%	140,3 k €	+51.2%	92,8 k €	-14.2%	108,1 k €	-10.5%	120,8 k €	+0.4%	120,4 k €	+17.0%	102,9 k €	-9.0%	113,1 k €	-10.2%	126 k €	-20.4%	158,2 k €	+9.2%	144,9 k €	+32.7%	109,2 k €	+104%	53,5 k €	+5.0%	51 k €
Balance sheet
Equity	2,4 M €	+13.0%	2,2 M €	-12.5%	2,5 M €	+18.5%	2,1 M €	+30.3%	1,6 M €	+21.9%	1,3 M €	+21.4%	1,1 M €	-25.2%	1,4 M €	+7.1%	1,3 M €	+20.1%	1,1 M €	+11.7%	1 M €	+4.6%	962,1 k €	+11.9%	859,8 k €	+19.6%	718,8 k €	+21.2%	592,8 k €	+15.2%	514,6 k €	+16.4%	442,2 k €	+32.8%	333,1 k €	+19.2%	279,5 k €
Total assets	3 M €	+8.4%	2,8 M €	-10.9%	3,1 M €	+12.0%	2,8 M €	+15.1%	2,4 M €	+14.0%	2,1 M €	+12.2%	1,9 M €	+6.8%	1,8 M €	+13.7%	1,6 M €	+0.1%	1,5 M €	+13.0%	1,4 M €	-1.3%	1,4 M €	+3.4%	1,3 M €	-5.7%	1,4 M €	+70.3%	836,5 k €	+4.4%	801,2 k €	+11.0%	721,9 k €	+14.5%	630,8 k €	+17.9%	535,2 k €
Cash	872,8 k €	+17.8%	741 k €	+40.5%	527,4 k €	+38.8%	380 k €	+60.9%	236,2 k €	+35.4%	174,4 k €	-56.2%	398,5 k €	-12.9%	457,5 k €	+6.4%	429,9 k €	+45.8%	294,8 k €	-20.0%	368,3 k €	+182%	130,5 k €	+180%	46,6 k €	-51.5%	96,1 k €	-28.5%	134,5 k €	+12.2%	119,9 k €	+167%	44,9 k €	+5908%	748,1 €	-76.4%	3,2 k €
Debts	550,4 k €	-8.1%	598,8 k €	-4.5%	626,9 k €	-8.0%	681,2 k €	-15.4%	804,7 k €	+0.9%	797,2 k €	-0.3%	799,9 k €	+153%	316,7 k €	+57.7%	200,8 k €	-52.7%	424,3 k €	+16.4%	364,4 k €	-14.6%	426,9 k €	-11.6%	483 k €	-31.6%	705,8 k €	+190%	243,7 k €	-15.0%	286,6 k €	+2.5%	279,7 k €	-6.0%	297,7 k €	+16.7%	255,1 k €
Other
Workforce	3,6 ETP	+16.1%	3,1 ETP	+6.9%	2,9 ETP	-12.1%	3,3 ETP	+37.5%	2,4 ETP	+4.3%	2,3 ETP	+4.5%	2,2 ETP	+57.1%	1,4 ETP	+27.3%	1,1 ETP	-8.3%	1,2 ETP	+9.1%	1,1 ETP	0.0%	1,1 ETP	0.0%	1,1 ETP	-8.3%	1,2 ETP	-7.7%	1,3 ETP	+30.0%	1,0 ETP	0.0%	1,0 ETP	+25.0%	0,8 ETP	+100%	0,4 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 30/09/2025 · 2 active · 2 ended

Active mandates

Ruth Heinen

Director

Active

Thomas Spoden

Director

Active

Ended mandates

Ruth Heinen

Manager

Ended

Thomas Spoden

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
SPODEN IMMO● Active	1008.388.739

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	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	27/04/2026	01/04/2025	29/12/2023	31/03/2023	29/03/2022	01/04/2021
General meeting	27/03/2026	28/03/2025	04/12/2023	31/03/2023	25/03/2022	26/03/2021
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
Abridged model	30/09/2025	27/03/2026	27/04/2026	German	PDF
Abridged model	30/09/2024	28/03/2025	01/04/2025	German	PDF
Abridged model	30/09/2023	04/12/2023	29/12/2023	German	PDF
Abridged model	30/09/2022	31/03/2023	31/03/2023	German	PDF
Abridged model	30/09/2021	25/03/2022	29/03/2022	German	PDF
Abridged model	30/09/2020	26/03/2021	01/04/2021	German	PDF
Abridged model	30/09/2019	27/03/2020	30/03/2020	German	PDF
Abridged model	30/09/2018	29/03/2019	31/03/2019	French	PDF
Abridged model	30/09/2017	30/03/2018	03/04/2018	German	PDF
Abridged model	30/09/2016	31/03/2017	03/04/2017	German	PDF
Abridged model	30/09/2015	25/03/2016	29/03/2016	German	PDF
Abridged model	30/09/2014	27/03/2015	31/03/2015	German	PDF
Abridged model	30/09/2013	28/03/2014	28/03/2014	German	PDF
Abridged model	30/09/2012	29/03/2013	08/04/2013	German	PDF
Abridged model	30/09/2011	30/03/2012	02/04/2012	German	PDF
Abridged model	30/09/2010	25/03/2011	29/03/2011	German	PDF
Abridged model	30/09/2009	26/03/2010	01/04/2010	German	PDF
Abridged model	30/09/2008	27/03/2009	30/03/2009	German	PDF
Abridged model	30/09/2007	28/03/2008	31/03/2008	German	PDF
Abridged model	30/09/2006	30/03/2007	02/04/2007	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 30/09/2025 · 2 active · 2 ended

Active mandates

Ruth Heinen

Director

Active

Thomas Spoden

Director

Active

Ended mandates

Ruth Heinen

Manager

Ended

Thomas Spoden

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Restructuring16/05/2024
RUBRIK UMBAU (VERSCHMELZUNG, SPALTUNG, UEBERTRAGUNG VERMOEGEN, USW)
PDF
Restructuring14/02/2024
RUBRIK UMBAU (VERSCHMELZUNG, SPALTUNG, UEBERTRAGUNG VERMOEGEN, USW)
PDF
Mandates02/01/2024
SATZUNGEN (UEBERSETZUNG, KOORDINATION, ANDERE AENDERUNGEN, ) - AENDERUNG RECHTSFORM - ENTLASSUNG - ERNENNUNG - GENERALVERSAMMLUNG
PDF
Capital / shares08/05/2019
KAPITAL - AKTIEN
PDF
Capital / shares28/04/2014
KAPITAL - AKTIEN - SATZUNGEN (UEBERSETZUNG, KOORDINATION, ANDERE AENDERUNGEN, )
PDF
Registered office20/02/2012
GESELLSCHAFTSSITZ
PDF
Capital / shares15/04/2003
KAPITAL - AKTIEN - GENERALVERSAMMLUNG - SATZUNGEN (UEBERSETZUNG, KOORDINATION, ANDERE AENDERUNGEN, )
PDF
Other20/12/2002
RUBRIK GRUENDUNG (NEUE RECHTSPERSON, EROEFFNUNG FILIALE, USW)
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 2025281,3 k €↓
2024
Annual accounts 2024330,4 k €↓
2023
Annual accounts 2023388,6 k €↓
2022
Annual accounts 2022490,9 k €↑
2021
Annual accounts 2021277,3 k €↑
2020
Annual accounts 2020235,5 k €↑
2019
Annual accounts 2019140,3 k €↑
2018
Annual accounts 201892,8 k €↓
2017
Annual accounts 2017108,1 k €↓
2015
Annual accounts 2015120,8 k €↑
2014
Annual accounts 2014120,4 k €↑
2013
Annual accounts 2013102,9 k €↓
2012
Annual accounts 2012113,1 k €↓
2011
Annual accounts 2011126 k €↓
2010
Annual accounts 2010158,2 k €↑
2009
Annual accounts 2009144,9 k €↑
2008
Annual accounts 2008109,2 k €↑
2007
Annual accounts 200753,5 k €↑
2006
Annual accounts 200651 k €
13/12/2002
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

SPODEN TH.

Overview

What does SPODEN TH. do?

Trend over 19 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