ACTIVE

MO-THOR

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Financial year 2025 · closed on 31/12/2025
Net result
-1,1 M €
-7.0% YoY
Revenue
546,8 k €
-37.6% YoY
Equity
18,8 M €
-1.6% YoY
Workforce
1,5 ETP
-25.0% YoY

What does MO-THOR do?

MO-THOR is a Public limited company incorporated in 2012. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Genk. It employs on average 1,5 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0843.944.639
Incorporation
22/02/2012
Legal form
Public limited company
Registered office
Thor Park 8300
3600 Genk · FlandreSee on map
Contributed capital
16 607 066,98 €
Latest accounts
31/12/2025
Average workforce
1,5 ETP
Activities (NACE)
68203Rental and operating of own or leased real estate· main68203Rental and operating of own or leased real estate82990Other business support service activities n.e.c.82990Other business support service activities n.e.c.68204Rental and operating of own or leased real estate68204Rental and operating of own or leased real estate
Joint committees (3)
  • 100
  • 200
  • 323
Signals
Solid equityLow riskGood liquidityHealthy social debts
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 13 financial years

2025202420232022202120202019201820172016201520142013
Income statement
Revenue546,8 k €875,9 k €–––––––––8,8 k €–
EBITDA-335,4 k €-136,4 k €-254,9 k €-185,2 k €-156,8 k €-61,8 k €-15,3 k €-10,6 k €-1,6 k €-2,3 k €-14,8 k €-80,5 k €-111,9 k €
Operating result-1,2 M €-869,1 k €-257,3 k €-187 k €-157,9 k €-185,5 k €-15,3 k €-10,6 k €-1,6 k €-2,3 k €-14,8 k €-80,5 k €-111,9 k €
Net result-1,1 M €-1 M €-328,6 k €-189,5 k €-163,2 k €-185,7 k €-15,4 k €-10,7 k €-33 k €-34 k €-46,5 k €-112,1 k €-170,1 k €
Balance sheet
Equity18,8 M €19,1 M €20,3 M €10,8 M €2,8 M €602,1 k €464,6 k €480 k €490,8 k €523,8 k €557,7 k €604,2 k €716,3 k €
Total assets27,2 M €27,7 M €34,5 M €14,5 M €3 M €1,8 M €1,5 M €1,5 M €1,5 M €1,5 M €1,5 M €1,5 M €1,7 M €
Cash1,3 M €634 k €8 M €597,4 k €708,5 k €241 k €4,5 k €3,6 k €–158,3 €14,4 k €42 k €227,3 k €
Debts6,3 M €6,5 M €11,9 M €1,5 M €147,2 k €970,2 k €829,4 k €813,1 k €798,8 k €798 k €809,9 k €826,4 k €897,8 k €
Other
Workforce1,5 ETP2,0 ETP3,0 ETP2,8 ETP2,0 ETP2,0 ETP–––––––
Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 6 active · 32 ended

Active mandates

Erhan Yilmaz

Director · since 20 mai 2025 · until 07 juin 2030

Active
Koen Debackere

Director · since 16 mai 2023 · until 01 juin 2029

Active
LIMBURGSE RECONVERSIE MAATSCHAPPIJ

Director · since 16 mai 2023 · until 01 juin 2029 · 0452.138.972

Represented by Tom Vanham

Active
LRM Beheer

Director · since 16 mai 2023 · until 01 juin 2029 · 0440.550.442

Represented by Gert Vandewaerde

Active
Toon Vandeurzen

Director · since 16 mai 2023 · until 01 juin 2029

Active
Wim Dries

Director · since 16 mai 2023 · until 20 mai 2025

Active

Ended mandates

Koen Debackere

Director · since 16 mai 2023 · until 15 mai 2029

Ended
LIMBURGSE RECONVERSIE MAATSCHAPPIJ

Director · since 16 mai 2023 · until 15 mai 2029 · 0452.138.972

Represented by Tom Vanham

Ended
LRM Beheer

Director · since 16 mai 2023 · until 15 mai 2029 · 0440.550.442

Represented by Koen Nulens

Ended
Toon Vandeurzen

Director · since 16 mai 2023 · until 15 mai 2029

Ended
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Annual accounts

Full financial information

202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date02/07/202613/06/202524/06/202413/06/202314/06/202216/06/2021
General meeting05/06/202620/05/202521/05/202416/05/202317/05/202218/05/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

13 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202505/06/202602/07/2026DutchPDF
Full model31/12/202420/05/202513/06/2025DutchPDF
Full model31/12/202321/05/202424/06/2024DutchPDF
Full model31/12/202216/05/202313/06/2023DutchPDF
Full model31/12/202117/05/202214/06/2022DutchPDF
Full model31/12/202018/05/202116/06/2021DutchPDF
Full model31/12/201919/05/202017/06/2020DutchPDF
Full model31/12/201821/05/201912/06/2019DutchPDF
Full model31/12/201729/06/201809/07/2018DutchPDF
Full model31/12/201616/05/201726/06/2017DutchPDF
Full model31/12/201517/05/201610/06/2016DutchPDF
Full model31/12/201419/05/201506/07/2015DutchPDF
Full model31/12/201320/05/201419/06/2014DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 6 active · 32 ended

Active mandates

Erhan Yilmaz

Director · since 20 mai 2025 · until 07 juin 2030

Active
Koen Debackere

Director · since 16 mai 2023 · until 01 juin 2029

Active
LIMBURGSE RECONVERSIE MAATSCHAPPIJ

Director · since 16 mai 2023 · until 01 juin 2029 · 0452.138.972

Represented by Tom Vanham

Active
LRM Beheer

Director · since 16 mai 2023 · until 01 juin 2029 · 0440.550.442

Represented by Gert Vandewaerde

Active
Toon Vandeurzen

Director · since 16 mai 2023 · until 01 juin 2029

Active
Wim Dries

Director · since 16 mai 2023 · until 20 mai 2025

Active

Ended mandates

Koen Debackere

Director · since 16 mai 2023 · until 15 mai 2029

Ended
LIMBURGSE RECONVERSIE MAATSCHAPPIJ

Director · since 16 mai 2023 · until 15 mai 2029 · 0452.138.972

Represented by Tom Vanham

Ended
LRM Beheer

Director · since 16 mai 2023 · until 15 mai 2029 · 0440.550.442

Represented by Koen Nulens

Ended
Toon Vandeurzen

Director · since 16 mai 2023 · until 15 mai 2029

Ended
Shareholders

Ownership and network

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Try for 7 days
Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates24/09/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Capital / shares05/09/2025
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - KAPITAAL - AANDELEN - ALGEMENE VERGADERING
    PDF
  • Mandates24/07/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates27/11/2024
    MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates01/08/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Capital / shares05/01/2024
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - KAPITAAL - AANDELEN
    PDF
  • Mandates18/10/2023
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates02/08/2023
    ONTSLAGEN - BENOEMINGEN
    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

Timeline

  1. 2025
    Annual accounts 2025-1,1 M €↓
  2. 2024
    Annual accounts 2024-1 M €↓
  3. 2023
    Annual accounts 2023-328,6 k €↓
  4. 2022
    Annual accounts 2022-189,5 k €↓
  5. 2021
    Annual accounts 2021-163,2 k €↑
  6. 2020
    Annual accounts 2020-185,7 k €↓
  7. 2019
    Annual accounts 2019-15,4 k €↓
  8. 2018
    Annual accounts 2018-10,7 k €↑
  9. 2017
    Annual accounts 2017-33 k €↑
  10. 2016
    Annual accounts 2016-34 k €↑
  11. 2015
    Annual accounts 2015-46,5 k €↑
  12. 2014
    Annual accounts 2014-112,1 k €↑
  13. 2013
    Annual accounts 2013-170,1 k €
  14. 22/02/2012
    IncorporationPublic limited company