ACTIVE

ECOLMA

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Financial year 2025 · closed on 31/12/2025

Net result

434,5 k €

+16.1% YoY

Revenue

822,7 k €

+0.7% YoY

Equity

4,2 M €

+11.5% YoY

What does ECOLMA do?

ECOLMA is a Public limited company incorporated in 2005. Its main activity is: Production of electricity. Its registered office is in Flémalle.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0872.368.708

Incorporation

09/03/2005

Legal form

Public limited company

Registered office

Rue des Awirs(AWR) 6
4400 Flémalle · Wallonie

Contributed capital

1 543 298,00 €

Latest accounts

31/12/2025

Activities (NACE)

35110Production of electricity· main 35110Production of electricity 40110Production d'électricité

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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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
Revenue	822,7 k €	+0.7%	816,9 k €	+16239%	5,0 k €	+100%	2,5 k €	-83.3%	15,0 k €	0.0%	15,0 k €	+20.0%	12,5 k €	+4.2%	12,0 k €	-20.0%	15,0 k €	-33.3%	22,5 k €	-25.0%	30,0 k €	+20.0%	25,0 k €	-28.6%	35,0 k €	-36.4%	55,0 k €	+267%	15,0 k €	-81.1%	79,5 k €	+206%	26,0 k €	+30.0%	20,0 k €	-94.4%	355,0 k €	+2529%	13,5 k €
EBITDA	793,4 k €	+9.3%	725,6 k €	+302453%	-240,0 €	-118%	1,3 k €	-89.2%	12,3 k €	-0.4%	12,4 k €	+23.1%	10,1 k €	-0.1%	10,1 k €	-17.2%	12,2 k €	-34.7%	18,7 k €	-15.3%	22,0 k €	+136%	9,3 k €	-44.2%	16,7 k €	-9.6%	18,5 k €	+390%	3,8 k €	-85.4%	26,0 k €	+257%	7,3 k €	-44.6%	13,1 k €	+902%	-1,6 k €	-124%	6,9 k €
Operating result	561,9 k €	+12.8%	498,2 k €	+207665%	-240,0 €	-118%	1,3 k €	-89.2%	12,3 k €	-0.4%	12,4 k €	+23.1%	10,1 k €	-0.1%	10,1 k €	-17.2%	12,2 k €	-34.7%	18,7 k €	-15.3%	22,0 k €	+136%	9,3 k €	-44.2%	16,7 k €	-9.6%	18,5 k €	+390%	3,8 k €	-85.4%	25,9 k €	+300%	6,5 k €	-47.4%	12,3 k €	+611%	-2,4 k €	-140%	6,1 k €
Net result	434,5 k €	+16.1%	374,4 k €	+20755%	1,8 k €	+90.6%	942,0 €	-89.6%	9,1 k €	+7.7%	8,4 k €	+15.8%	7,3 k €	+13.9%	6,4 k €	-23.5%	8,4 k €	-39.0%	13,7 k €	-20.7%	17,3 k €	+65.9%	10,4 k €	-31.5%	15,2 k €	-22.3%	19,6 k €	+251%	5,6 k €	-77.8%	25,0 k €	+171%	9,2 k €	-56.7%	21,3 k €	+361%	4,6 k €	-50.3%	9,3 k €
Balance sheet
Equity	4,2 M €	+11.5%	3,8 M €	+733%	452,0 k €	+0.4%	450,2 k €	+0.2%	449,3 k €	+2.1%	440,2 k €	+2.0%	431,7 k €	+1.7%	424,4 k €	+1.5%	418,1 k €	+2.0%	409,7 k €	+3.5%	396,0 k €	+4.6%	378,7 k €	+2.8%	368,3 k €	+4.3%	353,1 k €	+5.9%	333,5 k €	+1.7%	327,9 k €	+8.3%	302,9 k €	+3.1%	293,7 k €	+7.8%	272,3 k €	+1.7%	267,7 k €
Total assets	4,2 M €	+11.5%	3,8 M €	+730%	456,3 k €	+0.5%	454,2 k €	-0.2%	455,3 k €	+1.3%	449,6 k €	+2.7%	437,7 k €	+1.6%	430,8 k €	+0.8%	427,4 k €	+2.1%	418,8 k €	+2.7%	407,6 k €	+6.8%	381,6 k €	+0.9%	378,2 k €	+2.3%	369,8 k €	+9.0%	339,1 k €	+1.6%	333,9 k €	+9.9%	303,7 k €	+3.1%	294,6 k €	-28.9%	414,4 k €	+54.2%	268,7 k €
Cash	107,0 k €	-75.3%	433,7 k €	+93.2%	224,5 k €	-0.1%	224,7 k €	+7.7%	208,6 k €	+2.8%	202,8 k €	+4.9%	193,3 k €	+3.4%	187,0 k €	+22.5%	152,7 k €	-5.9%	162,3 k €	+14.1%	142,2 k €	+15.5%	123,1 k €	+13.3%	108,7 k €	-24.4%	143,7 k €	+50.3%	95,6 k €	+43.3%	66,7 k €	+277%	17,7 k €	-93.8%	287,9 k €	+12.3%	256,3 k €	+455%	46,2 k €
Debts	19,6 k €	+6.0%	18,5 k €	+330%	4,3 k €	+7.2%	4,0 k €	-33.7%	6,1 k €	-35.7%	9,4 k €	+57.0%	6,0 k €	-5.4%	6,3 k €	-32.2%	9,3 k €	+3.0%	9,1 k €	-21.9%	11,6 k €	+303%	2,9 k €	-70.8%	9,9 k €	-40.9%	16,7 k €	+198%	5,6 k €	-4.8%	5,9 k €	+675%	762,0 €	-18.7%	937,0 €	-99.3%	142,0 k €	+14945%	944,0 €

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 31/12/2025 · 4 active · 21 ended

Active mandates

François THIRY

Director · since 18 juillet 2024 · until 03 mai 2030

Active

Marc BOVY

Director · since 18 juillet 2024 · until 03 mai 2030

Active

Marie THIRY

Director · since 18 juillet 2024 · until 03 mai 2030

Active

Philippe THIRY

Managing director · since 18 juillet 2024 · until 03 mai 2030

Active

Ended mandates

Marie THIRY

Director · since 18 juillet 2025 · until 03 mai 2030

Ended

Marc BOVY

Director · since 27 mai 2022 · until 26 mai 2028

Ended

Olivier HAULT

Director · since 27 mai 2022 · until 26 mai 2028

Ended

Philippe THIRY

Managing director · since 27 mai 2022 · until 26 mai 2028

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	16/07/2026	19/08/2025	25/07/2024	31/07/2023	29/07/2022	31/08/2021
General meeting	26/06/2026	27/06/2025	28/06/2024	30/06/2023	30/06/2022	30/06/2021
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
Full model	31/12/2025	26/06/2026	16/07/2026	French	PDF
Full model	31/12/2024	27/06/2025	19/08/2025	French	PDF
Full model	31/12/2023	28/06/2024	25/07/2024	French	PDF
Full model	31/12/2022	30/06/2023	31/07/2023	French	PDF
Full model	31/12/2021	30/06/2022	29/07/2022	French	PDF
Full model	31/12/2020	30/06/2021	31/08/2021	French	PDF
Abridged model	31/12/2019	07/09/2020	07/11/2020	French	PDF
Abridged model	31/12/2018	28/05/2019	08/08/2019	French	PDF
Abridged model	31/12/2017	29/06/2018	28/07/2018	French	PDF
Abridged model	31/12/2016	30/06/2017	31/07/2017	French	PDF
Abridged model	31/12/2015	30/06/2016	02/09/2016	French	PDF
Abridged model	31/12/2014	30/06/2015	16/09/2015	French	PDF
Abridged model	31/12/2013	27/06/2014	10/09/2014	French	PDF
Abridged model	31/12/2012	28/06/2013	30/07/2013	French	PDF
Abridged model	31/12/2011	29/06/2012	25/09/2012	French	PDF
Abridged model	31/12/2010	30/06/2011	05/10/2011	French	PDF
Abridged model	31/12/2009	27/06/2010	29/10/2010	French	PDF
Abridged model	31/12/2008	27/05/2009	16/09/2009	French	PDF
Abridged model	31/12/2007	26/05/2008	02/07/2008	French	PDF
Abridged model	31/12/2006	26/05/2007	28/09/2007	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 31/12/2025 · 4 active · 21 ended

Active mandates

François THIRY

Director · since 18 juillet 2024 · until 03 mai 2030

Active

Marc BOVY

Director · since 18 juillet 2024 · until 03 mai 2030

Active

Marie THIRY

Director · since 18 juillet 2024 · until 03 mai 2030

Active

Philippe THIRY

Managing director · since 18 juillet 2024 · until 03 mai 2030

Active

Ended mandates

Marie THIRY

Director · since 18 juillet 2025 · until 03 mai 2030

Ended

Marc BOVY

Director · since 27 mai 2022 · until 26 mai 2028

Ended

Olivier HAULT

Director · since 27 mai 2022 · until 26 mai 2028

Ended

Philippe THIRY

Managing director · since 27 mai 2022 · until 26 mai 2028

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates04/12/2025
DEMISSIONS, NOMINATIONS
PDF
Restructuring19/09/2024
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring13/06/2024
CAPITAL, ACTIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates26/10/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates26/09/2016
DEMISSIONS, NOMINATIONS
PDF
Other18/01/2012
DIVERS
PDF
Mandates10/11/2011
DEMISSIONS, NOMINATIONS
PDF
Other18/03/2005
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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 2025434,5 k €↑
2024
Annual accounts 2024374,4 k €↑
2023
Annual accounts 20231,8 k €↑
2022
Annual accounts 2022942,0 €↓
2021
Annual accounts 20219,1 k €↑
2020
Annual accounts 20208,4 k €↑
2019
Annual accounts 20197,3 k €↑
2018
Annual accounts 20186,4 k €↓
2017
Annual accounts 20178,4 k €↓
2016
Annual accounts 201613,7 k €↓
2015
Annual accounts 201517,3 k €↑
2014
Annual accounts 201410,4 k €↓
2013
Annual accounts 201315,2 k €↓
2012
Annual accounts 201219,6 k €↑
2011
Annual accounts 20115,6 k €↓
2010
Annual accounts 201025,0 k €↑
2009
Annual accounts 20099,2 k €↓
2008
Annual accounts 200821,3 k €↑
2007
Annual accounts 20074,6 k €↓
2006
Annual accounts 20069,3 k €
09/03/2005
IncorporationPublic 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

ECOLMA

Overview

What does ECOLMA 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