MATHIMMO
Holdings
own 2025 accountsThis companyMATHIMMO8 holdings, 1 country
2025 accounts
Belgium 8 Year Equity Result
- BE RLE INVEST 2025€11.5m result €58,085 (2025)
- BE LE REPOS 2025€6.3m result -€265,767 (2025)
- BE KO IMMO92.75% 2025€6.0m result -€679,329 (2025)
- BE ARTONE50% 2025€2.5m result €3.3m (2025)
- BE DREAMALTY49% 2025€1.7m result €208,974 (2025)
- BE ESCAPE50% 2022€676,843 result -€36,818 (2022)
- BE TERO BAKERY80% 2025-€74,986 result -€70,484 (2025)
- BE BOUCHERIE MAGEROTTE 2025-€1.6m result -€795,817 (2025)
Source: list of holdings in its own 2025 accounts. Every holding stands with its own latest accounts.
Heads the group MATHIMMO Group, risk and exposureAt the same address
Chaussée de Tervuren 389, 1410 Waterloo · 52 other companies| Naoshima
registered office since 29-06-2022 · founded in 2022 |
total assets €39.8m (2025) 0787.790.349 |
| Ping Invest
registered office since 29-06-2022 · founded in 2022 |
total assets €36.7m (2025) 0787.787.082 |
| JLH Invest
registered office since 14-07-2022 · founded in 2022 |
total assets €36.4m (2025) 0788.581.591 |
| LE BESTIN
registered office since 19-07-1988 · founded in 1988 · group JLH Invest |
total assets €27.5m (2025) 0434.877.823 |
| RLE INVEST
registered office since 23-06-2016 · founded in 2016 · group MATHIMMO |
7.5 FTE (2025) 0656.907.259 |
| KO IMMO
registered office since 07-07-2020 · founded in 2020 · group MATHIMMO |
total assets €21.8m (2025) 0749.880.373 |
| Le Repos
registered office since 28-01-2021 · founded in 2021 · group MATHIMMO |
total assets €20.2m (2025) 0762.603.310 |
| PORCELYNEGOED
registered office since 13-01-2000 · founded in 1986 · group MATHIMMO |
total assets €12.5m (2025) 0429.538.269 |
| LAMSOUL
registered office since 09-12-1987 · founded in 1987 · negative equity (2025) |
total assets €11.4m (2025) 0432.848.741 |
| SPORTS VENTURES
registered office since 22-03-2015 · founded in 2015 · negative equity (2025) |
total assets €5.1m (2025) 0607.893.852 |
Earlier ties
| LAMSOUL via JL SQUARE (at MATHIMMO, last mentioned in 2020), ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · deed of 24-06-2020 founded in 1987 · negative equity (2025) |
total assets €11.4m (2025) |
| PRAMERUEL via JL SQUARE (at MATHIMMO, last mentioned in 2020), ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · deed of 14-07-2025 founded in 2000 · negative equity (2025) |
total assets €3.9m (2025) |
| Domaine Christiaens via SPORTS VENTURES, at MATHIMMO, last mentioned in 2020 · Administrateur non statutaire de catégorie b · deed of 15-01-2021 founded in 2021 · accounts filed late |
total assets €3.9m (2024) |
| DENILO GROUP via SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) and Nicolas Lhoist (at MATHIMMO until 2020) · deeds of 14-05-2020 and 06-12-2018 founded in 2018 · negative equity (2025) |
total assets €2.6m (2025) |
| RECREATION & LEISURE via ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · Director · deed of 23-10-2023 founded in 2016 · negative equity (2025) · group MATHIMMO |
26 FTE (2025) |
| Ferme Marot via ARLO, at MATHIMMO until 2020 · Director (not named in the articles) · deed of 18-01-2022 founded in 2022 · negative equity (2025) |
total assets €2.1m (2025) |
Show 56 more earlier ties
| Sports et Développements Famenne Immo via JL SQUARE (at MATHIMMO, last mentioned in 2020), ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · Director · deed of 08-08-2024 founded in 1996 · negative equity (2025) |
total assets €1.6m (2025) |
| Tero Catering via ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · Director (not named in the articles) · deed of 17-04-2023 founded in 2023 · negative equity (2025) · group MATHIMMO |
14 FTE (2025) |
| THE KOTTAGE via JL SQUARE (at MATHIMMO, last mentioned in 2020) and ARLO (at MATHIMMO until 2020) · deed of 27-12-2022 founded in 1994 · negative equity (2025) · group MATHIMMO |
total assets €1.3m (2025) |
| KOLLINE via ARLO, at MATHIMMO until 2020 · Director · deed of 08-08-2025 founded in 2017 · negative equity (2025) · group MATHIMMO |
3.7 FTE (2025) |
| LE VIEUX LOGIS via JL SQUARE (at MATHIMMO, last mentioned in 2020), ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · Director · deeds of 02-09-2024 and 13-12-2023 founded in 1970 · negative equity (2025) · group MATHIMMO |
total assets €1.1m (2025) |
| TERO BRUSSELS via SPORTS VENTURES, at MATHIMMO, last mentioned in 2020 · Director · deed of 05-08-2025 founded in 2016 · negative equity (2025) · group MATHIMMO |
9.9 FTE (2025) |
| ARBEAL via ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · Director · deed of 05-08-2025 founded in 2014 · negative equity (2025) · group MATHIMMO |
total assets €865,798 (2025) |
| GANG BELGIUM via JL SQUARE, at MATHIMMO, last mentioned in 2020 · Director (not named in the articles) · deed of 09-03-2021 founded in 2013 · negative equity (2025) · group JLH Invest |
7.4 FTE (2025) |
| FALS via ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · Director · deed of 16-06-2023 founded in 1983 · negative equity (2025) · group MATHIMMO |
7.1 FTE (2025) |
| Tero House Herbeumont via ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · Director · deeds of 08-08-2025 and 22-03-2021 founded in 2021 · negative equity (2025) · group MATHIMMO |
4.6 FTE (2025) |
| CDM HORSES via ARLO, at MATHIMMO until 2020 · Director (not named in the articles) · deed of 04-08-2026 founded in 2024 · negative equity (2025) |
total assets €554,011 (2025) |
| SPORTERO via JL SQUARE (at MATHIMMO, last mentioned in 2020) and ARLO (at MATHIMMO until 2020) · deed of 07-04-2025 founded in 2011 · negative equity (2025) · group MATHIMMO |
5.5 FTE (2025) |
| KNOKKE OUT UNIVERSITY XL via ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · deeds of 06-03-2024 and 31-12-2018 founded in 2016 · negative equity (2025) · group MATHIMMO |
total assets €509,048 (2025) |
| BE ON via Nicolas Lhoist, at MATHIMMO until 2020 · Director · deed of 19-02-2024 founded in 2022 · negative equity (2025) |
3.7 FTE (2025) |
| Buenas Open via SPORTS VENTURES, at MATHIMMO, last mentioned in 2020 · Director · deed of 09-04-2025 founded in 2021 · negative equity (2025) |
0.2 FTE (2025) |
| LHOIST via Nicolas Lhoist, at MATHIMMO until 2020 · Director · deed of 01-07-2021 founded in 1996 · group Financière de Gestions Internationales |
turnover €674.6m (2025) |
| LHOIST INDUSTRIE via Nicolas Lhoist, at MATHIMMO until 2020 · Director · deed of 30-06-2021 founded in 1954 |
turnover €30.5m (2025) |
| Fondation Saint - Luc via Nicolas Lhoist, at MATHIMMO until 2020 · Director · deed of 05-10-2020 founded in 2009 |
5.5 FTE (2025) |
| CITY CONCEPT via ADVICE and FOLLOW-UP, at MATHIMMO until 2024 · Director (not named in the articles) · deed of 06-05-2022 founded in 1984 |
total assets €35.3m (2025) |
| SOGEFIM via ADVICE and FOLLOW-UP, at MATHIMMO until 2024 · Director · deed of 07-03-2024 founded in 1991 |
total assets €20.4m (2025) |
| GROTTES DE HAN via Nicolas Lhoist, at MATHIMMO until 2020 · Director · deed of 05-05-2020 founded in 1968 |
102 FTE (2025) |
| PHILSTONE via ADVICE and FOLLOW-UP, at MATHIMMO until 2024 · Director (not named in the articles) · deed of 28-05-2024 founded in 1990 |
total assets €12.9m (2025) |
| PORCELYNEGOED via JL SQUARE (at MATHIMMO, last mentioned in 2020), ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · Director · deed of 04-07-2022 founded in 1986 · group MATHIMMO |
total assets €12.5m (2025) |
| Sporsystem via SPORTS VENTURES, at MATHIMMO, last mentioned in 2020 · Director · deed of 18-07-2024 founded in 1983 |
total assets €6.3m (2025) |
| Nouvel Espace Weyler via SPORTS VENTURES, at MATHIMMO, last mentioned in 2020 · Director · deed of 14-11-2024 founded in 2011 · group MATHIMMO |
total assets €5.2m (2025) |
| IMZ via JL SQUARE (at MATHIMMO, last mentioned in 2020), ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · Director · deed of 04-07-2022 founded in 1991 · group MATHIMMO |
total assets €4.7m (2025) |
| LES CRESSES via JL SQUARE (at MATHIMMO, last mentioned in 2020), ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · Director · deed of 24-06-2020 founded in 1987 |
total assets €4.2m (2025) |
| ROCH4PADEL via SPORTS VENTURES, at MATHIMMO, last mentioned in 2020 · Director · deed of 20-11-2024 founded in 2019 |
total assets €3.0m (2025) |
| Tero Padel via ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · Director (not named in the articles) · deed of 17-04-2023 founded in 2023 · group MATHIMMO |
1.4 FTE (2025) |
| KO INVEST via JL SQUARE (at MATHIMMO, last mentioned in 2020) and ARLO (at MATHIMMO until 2020) · deed of 21-12-2022 founded in 2011 · group MATHIMMO |
total assets €2.1m (2025) |
| Tero House Rochefort via ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · Director (not named in the articles) · deed of 17-04-2023 founded in 2023 · group MATHIMMO |
total assets €1.9m (2025) |
| PEOPLE FIRST MANAGEMENT via ARLO, at MATHIMMO until 2020 · Director (not named in the articles) · deed of 27-12-2022 founded in 2010 · group MATHIMMO |
11 FTE (2025) |
| THE TORREFACTORY PROJECT via ARLO, at MATHIMMO until 2020 · Director · deed of 29-01-2025 founded in 2017 |
10 FTE (2025) |
| RW BEACH CLUB via ARLO, at MATHIMMO until 2020 · Director (not named in the articles) · deed of 06-03-2024 founded in 2010 |
5.1 FTE (2025) |
| KO KOTTAGE via ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · deeds of 06-03-2024 and 03-01-2019 founded in 2016 · group MATHIMMO |
4 FTE (2025) |
| Tero Immo Ster via JL SQUARE (at MATHIMMO, last mentioned in 2020), ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · deeds of 27-11-2023 and 22-03-2021 founded in 2021 · group MATHIMMO |
total assets €1.1m (2025) |
| ARDUENNA SPIRIT COMPANY via SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) and Nicolas Lhoist (at MATHIMMO until 2020) · deeds of 08-10-2024 and 01-08-2023 founded in 2021 |
total assets €926,561 (2025) |
| Garisart sports et loisirs via ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · Director (not named in the articles) · deed of 03-03-2025 founded in 2025 |
total assets €788,746 (2025) |
| Tennis Club de Belgique Courts Couverts via JL SQUARE (at MATHIMMO, last mentioned in 2020), ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · deed of 17-04-2024 founded in 1968 |
total assets €746,063 (2025) |
| Sport2Be via Nicolas Lhoist, at MATHIMMO until 2020 · Director and chair of the board · deed of 26-10-2022 founded in 2016 |
total assets €685,517 (2025) |
| Zakk Invest via ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · Director · deed of 30-09-2025 founded in 2019 · group MATHIMMO |
total assets €528,206 (2025) |
| Sports et développements Famenne via JL SQUARE (at MATHIMMO, last mentioned in 2020), ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · Director · deed of 05-07-2024 founded in 2024 |
total assets €436,692 (2025) |
| NAJISOLAR via JL SQUARE (at MATHIMMO, last mentioned in 2020), ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · Director (not named in the articles) · deed of 21-10-2024 founded in 2024 |
total assets €397,525 (2025) |
| PASH via ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · Director · deed of 24-10-2024 founded in 2024 |
total assets €235,802 (2025) |
| PEOPLE FIRST TRAVEL via ARLO, at MATHIMMO until 2020 · Director (not named in the articles) · deed of 27-12-2022 founded in 2017 · group MATHIMMO |
total assets €203,853 (2025) |
| PIPAILLON ATELIER via ARLO, at MATHIMMO until 2020 · Director (not named in the articles) · deed of 28-06-2024 founded in 2024 |
total assets €114,045 (2025) |
| Tero Immo Gerpinnes via ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · Director (not named in the articles) · deed of 02-09-2025 founded in 2025 · group MATHIMMO |
total assets €108,786 (2025) |
| Tero House Ster via ARLO (at MATHIMMO until 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · deeds of 08-08-2025 and 22-03-2021 founded in 2021 · group MATHIMMO |
total assets €4,257 (2025) |
| Tero Sport via Nicolas Lhoist, at MATHIMMO until 2020 · Director · deed of 21-04-2023 |
founded in 2023 |
| Tero Studio via SPORTS VENTURES, at MATHIMMO, last mentioned in 2020 · Director (not named in the articles) · deed of 14-04-2026 |
founded in 2026 |
| VLS Chocolate via SPORTS VENTURES, at MATHIMMO, last mentioned in 2020 · Director · deed of 09-04-2025 |
founded in 2024 |
| WORLD PADEL TOURNAMENTS BELGIUM via Nicolas Lhoist, at MATHIMMO until 2020 · Director · deed of 12-09-2022 |
founded in 2019 |
| TERO INVEST via JL SQUARE (at MATHIMMO, last mentioned in 2020) and SPORTS VENTURES (at MATHIMMO, last mentioned in 2020) · Managing director · deed of 26-03-2020 No longer active |
total assets €1.5m (2023) |
| Exploraid via SPORTS VENTURES, at MATHIMMO, last mentioned in 2020 · Manager · deed of 18-02-2019 No longer active |
total assets €246,840 (2021) |
| TERRES NEUVES via SPORTS VENTURES, at MATHIMMO, last mentioned in 2020 · Director · deed of 13-10-2021 No longer active |
total assets €200,442 (2021) |
| PALI via JL SQUARE, at MATHIMMO, last mentioned in 2020 · Director · deed of 02-07-2019 No longer active |
Holdings and subsidiaries
8 holdings · 33 subsidiaries, including indirect onesHoldings 8
Share, source and own figures per holding (8)
Source for every holding own accounts 2025
- Boucherie TeroirsubsidiaryEquity -€1.6m Loss of €795,817 in 2025 (loss of €627,560 in 2024) Checked score 53100%
- Le RepossubsidiaryEquity €6.3m Loss of €265,767 in 2025 (loss of €90,078 in 2024) Checked score 78100%
- RLE INVESTsubsidiaryEquity €11.5m Profit of €58,085 in 2025 (loss of €251,903 in 2024) Checked score 84Alsodeed 30-04-2024100%
- KO IMMOsubsidiaryEquity €6.0m Loss of €679,329 in 2025 (loss of €795,472 in 2024) Checked score 9192.75%
- Tero BakerysubsidiaryEquity -€74,986 Loss of €70,484 in 2025 (profit of €51,553 in 2024) Checked score 4880%
- Equity €2.5m Profit of €3.3m in 2025 (profit of €65,833 in 2024) Checked score 9450%
- Equity €676,843 Loss of €36,818 in 202250%
- Equity €1.7m Profit of €208,974 in 2025 (loss of €246,473 in 2024)49%
All subsidiaries, including indirect ones 33
MATHIMMO or one of its subsidiaries holds more than half of the shares of these companies. A company it consolidates per the LEI register is listed too.
- Boucherie Teroir 100%
Le Repos 100%2 subsidiaries
PORCELYNEGOED 100%1 subsidiary
- IMZ 100%
RLE INVEST 100%17 subsidiaries
- ARBEAL 100%
- FALS 100%
- KO KOTTAGE 100%
- KO LUXEMBOURGLU 100%
- KOLLINE 100%
- PEOPLE FIRST LUXEMBOURGLU 100%
PEOPLE FIRST MANAGEMENT 100%2 subsidiaries
- PEOPLE FIRST TRAVEL 100%
- SPORTERO 100%
- RECREATION & LEISURE 100%
- TERO BRUSSELS 100%
- Tero Catering 100%
- Tero House Herbeumont 100%
- Tero Leisure 100%
- KNOKKE OUT UNIVERSITY XL 85%
- Tero Padel 85%
- AtlasGO 51%
KO IMMO 92.75%9 subsidiaries
- KO INVEST 100%
- KO Retranchement ImmoNL 100%
- LE VIEUX LOGIS 100%
- Tero House Rochefort 100%
- Tero Immo Gerpinnes 100%
- Tero Immo Ster 100%
- THE KOTTAGE 100%
- Zakk Invest 100%
- Nouvel Espace Weyler 90%
- Tero Bakery 80%
Holdings through the years 2016 to 2025
| Name | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Boucherie Teroir | 100% | |||||||||
| Le Repos | 100% | |||||||||
| RLE INVEST | 99% | 83.17% | 76.5% | 0.65% | 65% | 70.21% | 100% | |||
| KO IMMO | 100% | 87.38% | 92.75% | |||||||
| Tero Bakery | 75% | 80% | ||||||||
| ARTONE | 50% | |||||||||
| ESCAPE | 50% | |||||||||
| DREAMALTY | 25% | 49% | ||||||||
| Société Agricole Teroir | 48.81% | |||||||||
| THE KOTTAGE | 99.98% | |||||||||
| KO INVEST | 99% | |||||||||
| TERO INVEST | 1% | |||||||||
Source: list of holdings in its own accounts
Board mandates elsewhere
1 board mandateBoard mandates of MATHIMMOMATHIMMO sits on their board1
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