Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 61.6 to 36.
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Annual account missing NBB
Fiscal year 2024 was expected before 31 July 2025 and has not been filed.
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Busy address KBO
86 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2023
THEO Technologies from Leuven, company number BE0847829290, closed financial year 2023 with a result of € 593,607 after tax. For that financial year THEO Technologies recorded revenue of € 6.7 million and equity of € 2.1 million. Compared with financial year 2022, the result moved from € -707,171 to € 593,607. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on May 7, 2024.
€ 2.1 million
▲ 87% vs 2022
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 593,607
▲ still € 707,171 loss in 2022
Profit after tax over the fiscal year.
€ 183,056
▼ 82% vs 2022
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2023. Retained profit grew to € -1.1 million.
People and assets in 2023
36
▼ 7.8 vs 2022
Average over the fiscal year, from the social balance sheet.
€ 3.6 million
▼ 4% vs 2022
€ 99,900 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.
€ 88,288
▲ 158% vs 2022
Book value of vehicles, furniture and equipment.
Debts at end 2023
€ 3 million
▼ 26% vs 2022
€ 2 million is repaid this year. At this pace the long-term loan is gone in ≈ 1 years.
€ 831,710
▲ 93% vs 2022
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 86 days on average.
€ 493,144
▼ 7% vs 2022
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
| 2021 | 2022 | 2023 | Change 2022 → 2023 | |
|---|---|---|---|---|
| Revenue | - | € 4,849,822 | € 6,726,704 | ▲ 39% |
| Gross margin | € 5,677,031 | - | - | |
| Profit after taxes | € -1,079,634 | € -707,171 | € 593,607 | ▲ € 1.3 million |
| Equity | € 2,141,315 | € 1,122,461 | € 2,101,310 | ▲ 87% |
| Total debts | € 8,911,593 | € 8,636,305 | € 8,629,668 | |
| Cash | € 2,120,265 | € 1,009,140 | € 183,056 | ▼ 82% |
| Retained profit | € -946,652 | € -1,653,823 | € -1,060,216 | ▲ € 593,607 |
| Bank debt | € 5,077,089 | € 3,969,181 | € 2,951,789 | ▼ 26% |
| Balance sheet total | € 11,128,742 | € 9,804,323 | € 10,730,978 | ▲ 9% |
| Employees (FTE) | 61.6 | 43.8 | 36 | ▼ 7.8 |
Key figures of THEO Technologies, fiscal years 2021 to 2023, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2024 has not been filed yet; it was expected before 31 July 2025.
What happened to THEO Technologies?
What happened at THEO Technologies in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Steven Tielemans stepped down as director. NBB
- Pieter-Jan Speelmans stepped down as director. NBB
- About sound and vision LTD stepped down as director. NBB
- New annual accounts for financial year 2023: profit of € 593,607. Source: NBB ↗
- Steven Tielemans became a director. NBB
- Pieter-Jan Speelmans became a director. NBB
- About sound and vision LTD became a director. NBB
- New establishment in Leuven. KBO
In short
From € 1.1 million loss in 2021 to € 593,607 profit in 2023.
Best year ever: 2023, with € 593,607 profit.
On average € 92,200 of value added per employee in 2021.
Pays suppliers within 86 days on average.
Management
The stake of Smartfin Capital II comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
THEO TechnologiesThe shares are held by Smartfin Capital II (15.2%). It owns 100% of THEO Technologies Inc. itself.
Directors
According to the 2023 annual accounts
Steven Tielemans
Managing director
since 2022 · until 2028
Director · represented by Thomas Depuydt
Also active at: SMARTFIN VENTURES
since 2020 · until 2026
Pieter-Jan Speelmans
Director
since 2022 · until 2028
Shareholders
15.2%
Participations
THEO Technologies Inc.
100%
Establishments
Establishment units
Physical locations of this company
Philipssite 5 box 1
3001 Leuven
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 86 companies are registered at this address.
All companies at this address →Norgine
€ 19.1 million revenue · 2024
DRAKA BELGIUM
€ 3.4 million revenue · 2025
LOFMA
€ 1.8 million gross margin · 2025
G.I.M. - GEOGRAPHIC INFORMATION MANAGEMENT
€ 7.1 million revenue · 2025
ADVOCATENASSOCIATIE NELISSEN GRADE
€ 477,864 gross margin · 2025
+81 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0847.829.290
- VAT number
- BE 0847.829.290
- Registered office
- Philipssite 5 bus 1, 3001 Leuven
- Names & denominations
- THEO Technologies
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 31 July 2012
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
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