Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
Financials
Financial year 2025
THE from Dilsen-Stokkem, company number BE0535642809, closed financial year 2025 with a result of € -123,687 after tax. For that financial year THE recorded a gross margin of € 443,750 and equity of € 113,273. Compared with financial year 2024, the result moved from € -148,166 to € -123,687. The company made a loss. The buffer shrank hard: equity is 52 % below last year. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 10, 2026.
€ 113,273
▼ 52% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -123,687
▲ 17 % less loss than in 2024
Profit after tax over the fiscal year.
€ 8,190
▼ 50% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 94,673.
People and assets in 2025
11.1
▲ 0.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 381,537
▼ 5% vs 2024
€ 34,400 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 6,560
▼ 58% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 29,068
▼ 79% vs 2024
Loans from banks and other lenders, long and short.
€ 268,401
▲ 33% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 49,253
▼ 8% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 587,224 | € 499,309 | € 423,304 | € 443,750 | ▲ 5% |
| Profit after taxes | € 143,947 | € 6,016 | € -148,166 | € -123,687 | ▲ € 24,480 |
| Equity | € 379,109 | € 385,126 | € 236,959 | € 113,273 | ▼ 52% |
| Total debts | € 550,894 | € 481,015 | € 680,714 | € 693,358 | ▲ 2% |
| Cash | € 33,379 | € 3,830 | € 16,510 | € 8,190 | ▼ 50% |
| Land & buildings | € 409,016 | € 368,009 | € 301,986 | € 297,368 | ▼ 2% |
| Retained profit | € 360,509 | € 366,526 | € 218,359 | € 94,673 | ▼ 57% |
| Bank debt | € 64,547 | € 44,343 | € 138,673 | € 29,068 | ▼ 79% |
| Balance sheet total | € 930,003 | € 866,140 | € 917,674 | € 806,630 | ▼ 12% |
| Employees (FTE) | 11.8 | 11.4 | 10.4 | 11.1 | ▲ 0.7 |
Key figures of THE, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to THE?
What happened at THE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 123,687. Source: NBB ↗
- Surf & Fun became a director. NBB
- New establishment in Dilsen-Stokkem. KBO
- Start of the company according to the CBE. KBO
In short
From € 143,947 profit in 2022 to € 123,687 loss in 2025.
Best year ever: 2022, with € 143,947 profit.
On average € 40,000 of value added per employee in 2025.
Management
The stake of KUPALO HOLDING, SURF & FUN comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
THEBehind THE is Surf & Fun. The shares are held by KUPALO HOLDING (100%) and SURF & FUN (100%).
Directors
According to the 2025 annual accounts
Director · represented by Theodorus Van Lierop
since 2020
Shareholders
100%
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Nationaal Parklaan 5
3650 Dilsen-Stokkem
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0535.642.809
- VAT number
- BE 0535.642.809
- Registered office
- Nationaal Parklaan 5, 3650 Dilsen-Stokkem
- Names & denominations
- THE
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 28 May 2013
- Peppol
- Active · Active since 22 Sept 2025
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