ACTIVE

THORNSETT BELGIUM

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Financial year 2025 · closed on 31/12/2025

Equity

-638,6 k €

0.0% YoY

What does THORNSETT BELGIUM do?

THORNSETT BELGIUM is a Private company with limited liability incorporated in 2005. Its registered office is in Uccle.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0876.022.143

Incorporation

13/09/2005

Legal form

Private company with limited liability

Registered office

Avenue Winston Churchill 28 box 7
1180 Uccle · BruxellesSee on map

Contributed capital

240 000,00 €

Latest accounts

31/12/2025

Joint committees (1)

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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	–		-152,2 k €		–		–		–		-458 €	-104%	13 k €	-22.4%	16,8 k €	-58.0%	39,9 k €	+63.7%	24,4 k €	-43.6%	43,3 k €	+56.8%	27,6 k €	-6.3%	29,5 k €	+123%	-127,6 k €	-274%	73,2 k €	-9.3%	80,7 k €	+27.5%	63,3 k €	+59.1%	39,8 k €	+44.9%	27,4 k €	+826%	3 k €
EBITDA	–		-152,5 k €		–		–		–		-458 €	-104%	12,1 k €	-27.6%	16,8 k €	-56.6%	38,6 k €	+64.2%	23,5 k €	+322%	-10,6 k €	+81.2%	-56,3 k €	-73.9%	-32,4 k €	+82.3%	-183,3 k €	-1150%	17,5 k €	-37.0%	27,7 k €	+67.9%	16,5 k €	-39.8%	27,4 k €	+1.6%	27 k €	+1195%	2,1 k €
Operating result	–		-273,5 k €		–		–		–		-458 €	-104%	12,1 k €	-27.6%	16,8 k €	-56.6%	38,6 k €	+64.2%	23,5 k €	+239%	-16,9 k €	+73.0%	-62,5 k €	-61.9%	-38,6 k €	+79.6%	-189,8 k €	-1827%	11 k €	-44.4%	19,8 k €	+217%	6,2 k €	-63.7%	17,2 k €	-6.8%	18,4 k €	+783%	2,1 k €
Net result	–		-743,1 k €		–		–		–		-458 €	-105%	9,1 k €	-52.5%	19,1 k €	-53.1%	40,8 k €	+84.5%	22,1 k €	+491%	-5,7 k €	+90.0%	-56,5 k €	-55.0%	-36,5 k €	+80.0%	-182,3 k €	-1258%	15,7 k €	-33.1%	23,5 k €	+179%	8,5 k €	+869%	872,1 €	-78.0%	4 k €	+82.2%	2,2 k €
Balance sheet
Equity	-638,6 k €	0.0%	-638,6 k €	-711%	104,5 k €	0.0%	104,5 k €	0.0%	104,5 k €	0.0%	104,5 k €	-0.4%	105 k €	+9.5%	95,9 k €	+24.9%	76,7 k €	+114%	35,9 k €	+160%	13,8 k €	-29.1%	19,5 k €	-74.4%	75,9 k €	-32.4%	112,4 k €	-61.9%	294,8 k €	+5.6%	279 k €	+9.2%	255,5 k €	+3.4%	247 k €	+0.4%	246,1 k €	+1.6%	242,2 k €
Total assets	67,2 €	0.0%	67,2 €	-100.0%	1,2 M €	0.0%	1,2 M €	0.0%	1,2 M €	+20.8%	955,8 k €	+0.0%	955,7 k €	-9.6%	1,1 M €	-5.6%	1,1 M €	+2.9%	1,1 M €	+9.6%	993,1 k €	-47.4%	1,9 M €	+13.8%	1,7 M €	+16.7%	1,4 M €	+49.2%	954,2 k €	-11.1%	1,1 M €	+23.1%	872,6 k €	-13.9%	1 M €	+15.1%	880,5 k €	+185%	308,9 k €
Cash	–		–		80,4 k €	0.0%	80,4 k €	0.0%	80,4 k €	0.0%	80,4 k €	+20375%	392,9 €	+16.7%	336,8 €	-90.7%	3,6 k €	-43.7%	6,5 k €	+258%	1,8 k €	+41.4%	1,3 k €	-93.1%	18,4 k €	+927%	1,8 k €	+79.6%	996,8 €	-57.8%	2,4 k €	-64.7%	6,7 k €	+678%	860,5 €	-98.3%	50,5 k €	+20.5%	41,9 k €
Debts	455,9 k €	0.0%	455,9 k €	-47.5%	867,7 k €	0.0%	867,7 k €	0.0%	867,7 k €	+29.8%	668,5 k €	+0.1%	668 k €	-14.2%	778,7 k €	-9.7%	862,4 k €	+0.4%	859,3 k €	+6.6%	806,2 k €	-53.2%	1,7 M €	+17.0%	1,5 M €	+18.6%	1,2 M €	+102%	614,5 k €	-17.1%	741 k €	+25.8%	589,2 k €	-23.1%	766,4 k €	+23.1%	622,6 k €	+834%	66,7 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP		–		–

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 1 ended

Active mandates

Denis CUNNINGHAM

Manager

Active

Gerard CUNNINGHAM

Manager

Active

Ended mandates

Peter McCarthy

Manager

Ended

At this address

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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	31/08/2026	23/12/2025	21/10/2024	30/09/2023	30/08/2022	31/08/2021
General meeting	31/08/2026	10/10/2025	30/09/2024	30/09/2023	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
Micro model	31/12/2025	31/08/2026	31/08/2026	French	PDF
Micro model	31/12/2024	10/10/2025	23/12/2025	French	PDF
Micro model	31/12/2023	30/09/2024	21/10/2024	Dutch	PDF
Micro model	31/12/2022	30/09/2023	30/09/2023	Dutch	PDF
Micro model	31/12/2021	30/06/2022	30/08/2022	Dutch	PDF
Micro model	31/12/2020	30/06/2021	31/08/2021	Dutch	PDF
Micro model	31/12/2019	30/10/2020	31/10/2020	Dutch	PDF
Micro model	31/12/2018	13/06/2019	15/07/2019	Dutch	PDF
Micro model	31/12/2017	29/06/2018	30/08/2018	French	PDF
Abridged model	31/12/2016	12/05/2017	27/07/2017	French	PDF
Abridged model	31/12/2015	15/06/2016	15/07/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	10/08/2015	French	PDF
Abridged model	31/12/2013	30/06/2014	29/08/2014	French	PDF
Abridged model	31/12/2012	28/06/2013	22/08/2013	French	PDF
Abridged model	31/12/2011	26/04/2012	28/08/2012	Dutch	PDF
Abridged model	31/12/2010	28/04/2011	16/08/2011	French	PDF
Abridged model	31/12/2009	29/04/2010	30/08/2010	French	PDF
Abridged model	31/12/2008	05/05/2009	01/07/2009	Dutch	PDF
Abridged model	31/12/2007	28/05/2008	30/08/2008	French	PDF
Abridged model	31/12/2006	26/04/2007	17/08/2007	French	PDF

Estimate

Indicative valuation

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 · 2 active · 1 ended

Active mandates

Denis CUNNINGHAM

Manager

Active

Gerard CUNNINGHAM

Manager

Active

Ended mandates

Peter McCarthy

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates01/06/2016
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Mandates20/03/2012
DEMISSIONS, NOMINATIONS
PDF
Mandates09/06/2008
DEMISSIONS, NOMINATIONS
PDF
Mandates04/06/2007
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Mandates16/05/2007
DEMISSIONS, NOMINATIONS
PDF
Registered office23/03/2006
SIEGE SOCIAL
PDF
Other20/09/2005
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 2025
2024
Annual accounts 2024-743,1 k €↓
2023
Annual accounts 2023
2022
Annual accounts 2022
2021
Annual accounts 2021
2020
Annual accounts 2020-458 €↓
2019
Annual accounts 20199,1 k €↓
2018
Annual accounts 201819,1 k €↓
2017
Annual accounts 201740,8 k €↑
2016
Annual accounts 201622,1 k €↑
2015
Annual accounts 2015-5,7 k €↑
2014
Annual accounts 2014-56,5 k €↓
2013
Annual accounts 2013-36,5 k €↑
2012
Annual accounts 2012-182,3 k €↓
2011
Annual accounts 201115,7 k €↓
2010
Annual accounts 201023,5 k €↑
2009
Annual accounts 20098,5 k €↑
2008
Annual accounts 2008872,1 €↓
2007
Annual accounts 20074 k €↑
2006
Annual accounts 20062,2 k €
13/09/2005
IncorporationPrivate company with limited liability

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

THORNSETT BELGIUM

Overview

What does THORNSETT BELGIUM do?

Trend over 20 financial years

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