ACTIVE

CLOTH

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Financial year 2025 · closed on 31/12/2025

Net result

-165,3 k €

-325.4% YoY

Gross margin

790,7 k €

-16.9% YoY

Equity

484,7 k €

-25.5% YoY

Workforce

19,2 ETP

-0.5% YoY

What does CLOTH do?

CLOTH is a Private limited company incorporated in 2011. Its main activity is: Advertising agencies. Its registered office is in Kelmis. It employs on average 19,2 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0836.989.739

Incorporation

15/06/2011

Legal form

Private limited company

Registered office

Rue Bau 11
4720 Kelmis · WallonieSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Average workforce

19,2 ETP

Activities (NACE)

73110Advertising agencies· main 73110Advertising agencies 74103Specialised design activities 74120Specialised design activities 18130Pre-press and pre-media services 18130Pre-press and pre-media services+6

Signals

Healthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 14 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012
Income statement
Gross margin	790,7 k €	-16.9%	951 k €	+30.1%	731,1 k €	+1.7%	718,7 k €	-14.7%	843 k €	+40.6%	599,4 k €	+6.3%	563,9 k €	+38.4%	407,6 k €	+46.9%	277,4 k €	+73.6%	159,8 k €	+16.2%	137,6 k €	+214%	43,8 k €	-46.8%	82,3 k €	-14.0%	95,6 k €
EBITDA	-31,1 k €	-114%	219,7 k €	+86.7%	117,7 k €	-35.0%	181,1 k €	-50.0%	362,3 k €	+14.7%	316 k €	+39.3%	226,9 k €	+22.4%	185,4 k €	+25.3%	148 k €	+75.3%	84,4 k €	-6.0%	89,8 k €	+392%	18,2 k €	-52.0%	38 k €	-12.6%	43,4 k €
Operating result	-151,2 k €	-235%	112 k €	+61.0%	69,6 k €	-46.0%	128,8 k €	-57.8%	305 k €	+17.7%	259,2 k €	+67.2%	155 k €	+5.0%	147,6 k €	+23.0%	120 k €	+121%	54,2 k €	-9.9%	60,2 k €	+9754%	611 €	-96.8%	19,1 k €	-2.5%	19,5 k €
Net result	-165,3 k €	-325%	73,3 k €	+58.9%	46,1 k €	-49.1%	90,7 k €	-56.4%	208,2 k €	+19.2%	174,7 k €	+60.3%	109 k €	+4.4%	104,4 k €	+28.3%	81,4 k €	+255%	22,9 k €	-15.6%	27,2 k €	+2552%	-1,1 k €	-109%	11,7 k €	+12.6%	10,4 k €
Balance sheet
Equity	484,7 k €	-25.5%	651 k €	-1.6%	661,7 k €	-4.2%	690,6 k €	+5.9%	652 k €	+39.6%	466,9 k €	+42.0%	328,8 k €	+33.7%	245,9 k €	+42.5%	172,5 k €	+92.5%	89,6 k €	+34.4%	66,7 k €	+68.7%	39,5 k €	-2.7%	40,7 k €	+145%	16,6 k €
Total assets	1,7 M €	+5.1%	1,6 M €	+23.1%	1,3 M €	+2.0%	1,3 M €	+0.1%	1,3 M €	+12.3%	1,1 M €	+21.1%	935,9 k €	+4.2%	897,9 k €	+24.2%	722,9 k €	+20.7%	599,1 k €	-2.4%	614,1 k €	+36.0%	451,4 k €	+285%	117,2 k €	-9.4%	129,3 k €
Cash	123,1 k €	-3.3%	127,3 k €	-1.2%	128,8 k €	-41.6%	220,5 k €	-38.6%	359,4 k €	+89.1%	190,1 k €	+68.7%	112,7 k €	+290%	28,9 k €	-5.2%	30,4 k €	+26366%	115 €	-85.2%	778 €	-88.4%	6,7 k €	-60.9%	17,1 k €	+105%	8,3 k €
Debts	1,2 M €	+26.2%	945,6 k €	+49.0%	634,6 k €	+9.4%	579,9 k €	-6.2%	618,1 k €	-6.9%	663,9 k €	+9.8%	604,6 k €	-7.0%	649,8 k €	+18.5%	548,3 k €	+8.1%	507,4 k €	-7.0%	545,4 k €	+32.9%	410,3 k €	+439%	76,1 k €	-31.5%	111,1 k €
Other
Workforce	19,2 ETP	-0.5%	19,3 ETP	+4.3%	18,5 ETP	+8.2%	17,1 ETP	-1.7%	17,4 ETP	+19.2%	14,6 ETP	+23.7%	11,8 ETP		–		6,7 ETP	+39.6%	4,8 ETP	+71.4%	2,8 ETP	-12.5%	3,2 ETP	+3.2%	3,1 ETP	+34.8%	2,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2024 · 1 active · 6 ended

Active mandates

SVEN CLOTH

Director

Active

Ended mandates

Martina RECKER

Director · since 15 juin 2011

Ended

MARTINA RECKER

Manager · since 15 juin 2011

Ended

Sven CLOTH

Director · since 15 juin 2011

Ended

SVEN CLOTH

Manager · since 15 juin 2011

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	08/04/2026	28/03/2025	13/05/2024	30/06/2023	28/06/2022	18/05/2021
General meeting	24/03/2026	10/03/2025	10/04/2024	23/05/2023	10/05/2022	05/03/2021
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

14 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	24/03/2026	08/04/2026	French	PDF
Abridged model	31/12/2024	10/03/2025	28/03/2025	French	PDF
Abridged model	31/12/2023	10/04/2024	13/05/2024	French	PDF
Abridged model	31/12/2022	23/05/2023	30/06/2023	French	PDF
Abridged model	31/12/2021	10/05/2022	28/06/2022	French	PDF
Abridged model	31/12/2020	05/03/2021	18/05/2021	French	PDF
Abridged model	31/12/2019	02/03/2020	30/03/2020	French	PDF
Micro model	31/12/2018	19/03/2019	27/06/2019	French	PDF
Abridged model	31/12/2017	11/04/2018	15/06/2018	French	PDF
Abridged model	31/12/2016	23/02/2017	06/03/2017	French	PDF
Abridged model	31/12/2015	03/03/2016	15/03/2016	French	PDF
Abridged model	31/12/2014	19/05/2015	01/06/2015	French	PDF
Abridged model	31/12/2013	20/06/2014	18/07/2014	German	PDF
Abridged model	31/12/2012	21/06/2013	30/08/2013	German	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 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 31/12/2024 · 1 active · 6 ended

Active mandates

SVEN CLOTH

Director

Active

Ended mandates

Martina RECKER

Director · since 15 juin 2011

Ended

MARTINA RECKER

Manager · since 15 juin 2011

Ended

Sven CLOTH

Director · since 15 juin 2011

Ended

SVEN CLOTH

Manager · since 15 juin 2011

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates18/08/2025
ENTLASSUNG - ERNENNUNG
PDF
Mandates05/01/2021
GESELLSCHAFTSNAME - ENTLASSUNG - ERNENNUNG - GENERALVERSAMMLUNG - SATZUNGEN (UEBERSETZUNG, KOORDINATION, ANDERE AENDERUNGEN, )
PDF
Mandates18/10/2017
ENTLASSUNG - ERNENNUNG
PDF
Other27/06/2011
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 2025-165,3 k €↓
2024
Annual accounts 202473,3 k €↑
2023
Annual accounts 202346,1 k €↓
2022
Annual accounts 202290,7 k €↓
2021
Annual accounts 2021208,2 k €↑
2020
Annual accounts 2020174,7 k €↑
2019
Annual accounts 2019109 k €↑
2018
Annual accounts 2018104,4 k €↑
2017
Annual accounts 201781,4 k €↑
2016
Annual accounts 201622,9 k €↓
2015
Annual accounts 201527,2 k €↑
2014
Annual accounts 2014-1,1 k €↓
2013
Annual accounts 201311,7 k €↑
2012
Annual accounts 201210,4 k €
15/06/2011
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

CLOTH

Overview

What does CLOTH do?

Trend over 14 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