Ets THIERRY
ActiveSummary
Ets THIERRY has been active since 1981 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €228,335 and a net result of €14,825. Equity is growing by ~5.5% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability77▼-2
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €19,000 at 30 days acceptable
Liquidity ample (current ratio 30.1 against 24.3 in 2023; short-term debt: 3.1% and cash: 32.7% of total assets), and 3.1% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-06-2026, 34 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
34 d early
2024
36 d early
2023
26 d late
2022
34 d early
2021
31 d early
2020
31 d early
2019
32 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 25 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 27 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, micro schema
In the rankings
#6 oldest company in Couvin, Construction sector
Equity
€228,335▲ 6.9%
2023 · €213,509
Total assets
€235,557▲ 6.3%
2023 · €221,511
Net result
€14,825▼ 17.4%
2023 · €17,948
Working capital
€210,188▲ 12.8%
2023 · €186,410
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€34,630▲ 209%€16,048▼ 53.7%€22,658▲ 41.2%€27,209▲ 20.1%€23,071▼ 15.2%
Net result€24,987above the sector's middle half▲ 163%€11,670within the sector's middle half▼ 53.3%€14,289within the sector's middle half▲ 22.4%€17,948within the sector's middle half▲ 25.6%€14,825within the sector's middle half▼ 17.4%
Equity€199,845above the sector's middle half▲ 14.3%€211,516above the sector's middle half▲ 5.8%€208,542above the sector's middle half▼ 1.4%€213,509above the sector's middle half▲ 2.4%€228,335above the sector's middle half▲ 6.9%
Total assets€237,281within the sector's middle half▲ 6.2%€239,571within the sector's middle half▲ 1.0%€225,136within the sector's middle half▼ 6.0%€221,511within the sector's middle half▼ 1.6%€235,557within the sector's middle half▲ 6.3%
Debt€37,436▼ 22.8%€28,055▼ 25.1%€16,594▼ 40.9%€8,002▼ 51.8%€7,223▼ 9.7%
Working capital€159,626above the sector's middle half▲ 7.9%€172,213above the sector's middle half▲ 7.9%€177,704above the sector's middle half▲ 3.2%€186,410above the sector's middle half▲ 4.9%€210,188above the sector's middle half▲ 12.8%
Solvency84.2%above the sector's middle half▲ 5.9pp88.3%above the sector's middle half▲ 4.1pp92.6%above the sector's middle half▲ 4.3pp96.4%above the sector's middle half▲ 3.8pp96.9%above the sector's middle half▲ 0.5pp
Current ratio6.89above the sector's middle half▲ 2.857.14above the sector's middle half▲ 0.2411.71above the sector's middle half▲ 4.5724.30above the sector's middle half▲ 12.5930.10above the sector's middle half▲ 5.80
Return on assets (ROA)10.5%within the sector's middle half▲ 6.3pp4.9%within the sector's middle half▼ 5.7pp6.3%within the sector's middle half▲ 1.5pp8.1%within the sector's middle half▲ 1.8pp6.3%within the sector's middle half▼ 1.8pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 15% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €235,557
Fixed assets
€18,146 ▼ 33.0%
Current assets
€217,411 ▲ 11.8%
Equity and liabilities €235,557
Equity
€228,335 ▲ 6.9%
Debt
€7,223 ▼ 9.7%
Debt's share of the balance-sheet total falls from 3.6% to 3.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€32,025▼
2023 · €35,944
Cash flow
€23,778▼
2023 · €26,682
Quick ratio
18.75▲
2023 · 13.97
Debt to equity
0.03▼
2023 · 0.04
ROE
6.5%▼
2023 · 8.4%
Interest coverage
214.81▼
2023 · 312.64
Debt ≤ 1 year
€7,223▼
2023 · €8,002
Income taxes
€8,382▼
2023 · €9,156
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,371 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,371 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,052 | €11,272 | €8,465 | €8,735 | €8,953 | ▲ 2.5% |
| Other operating charges640/8 | - | €2,665 | €2,844 | €3,114 | €3,143 | ▲ 0.9% |
| Non-recurring operating charges66A | - | - | €2,020 | €61 | - | - |
| Gross operating margin9900 | €45,421 | €29,984 | €35,986 | €39,118 | €35,167 | ▼ 10.1% |
| Operating profit (loss)9901 | €34,630 | €16,048 | €22,658 | €27,209 | €23,071 | ▼ 15.2% |
| Financial income75/76B | - | €22 | €22 | €10 | €285 | ▲ 2,724% |
| Recurring financial income75 | €43 | €22 | €22 | €10 | €285 | ▲ 2,724% |
| Financial charges65/66B | - | €717 | €554 | €115 | €149 | ▲ 29.7% |
| Recurring financial charges65 | €7 | €717 | €554 | €115 | €149 | ▲ 29.7% |
| Profit (loss) for the period before taxes9903 | €34,666 | €15,352 | €22,125 | €27,104 | €23,207 | ▼ 14.4% |
| Income taxes67/77 | €9,679 | €3,682 | €7,836 | €9,156 | €8,382 | ▼ 8.5% |
| Profit (loss) for the period9904 | €24,987 | €11,670 | €14,289 | €17,948 | €14,825 | ▼ 17.4% |
| Profit (loss) for the period to be appropriated9905 | €24,987 | €11,670 | €14,289 | €17,948 | €14,825 | ▼ 17.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €237,281 | €239,571 | €225,136 | €221,511 | €235,557 | ▲ 6.3% |
| Fixed assets21/28 | €50,574 | €39,302 | €30,838 | €27,099 | €18,146 | ▼ 33.0% |
| Tangible fixed assets22/27 | €49,574 | €38,302 | €29,838 | €26,099 | €17,146 | ▼ 34.3% |
| Land and buildings22 | - | €13,277 | €12,223 | €11,168 | €10,114 | ▼ 9.4% |
| Plant, machinery and equipment23 | - | €4,387 | €2,532 | €5,404 | €3,061 | ▼ 43.4% |
| Furniture and vehicles24 | - | €20,639 | €15,083 | €9,527 | €3,971 | ▼ 58.3% |
| Financial fixed assets28 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Current assets29/58 | €186,707 | €200,269 | €194,298 | €194,411 | €217,411 | ▲ 11.8% |
| Stocks and contracts in progress3 | €92,624 | €92,547 | €91,417 | €82,625 | €81,986 | ▼ 0.8% |
| Stocks30/36 | - | €92,547 | €91,417 | €82,625 | €81,986 | ▼ 0.8% |
| Amounts receivable within one year40/41 | €19,307 | €8,662 | €8,036 | €3,317 | €5,238 | ▲ 57.9% |
| Trade receivables40 | - | €5,734 | €3,535 | €221 | €1,845 | ▲ 736% |
| Other amounts receivable41 | - | €2,929 | €4,501 | €3,096 | €3,393 | ▲ 9.6% |
| Current investments50/53 | €35,000 | €45,000 | €45,000 | €50,000 | €50,280 | ▲ 0.6% |
| Cash at bank and in hand54/58 | €37,814 | €51,464 | €47,314 | €56,093 | €77,141 | ▲ 37.5% |
| Deferred charges and accrued income490/1 | - | €2,595 | €2,531 | €2,377 | €2,766 | ▲ 16.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €237,281 | €239,571 | €225,136 | €221,511 | €235,557 | ▲ 6.3% |
| Equity10/15 | €199,845 | €211,516 | €208,542 | €213,509 | €228,335 | ▲ 6.9% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €173,418 | €185,088 | €182,115 | €187,082 | €201,907 | ▲ 7.9% |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Distributable reserves133 | - | €183,229 | €180,255 | €185,223 | €200,048 | ▲ 8.0% |
| Profit (loss) carried forward14 | €7,827 | €7,827 | €7,827 | €7,827 | €7,827 | = |
| Amounts payable17/49 | €37,436 | €28,055 | €16,594 | €8,002 | €7,223 | ▼ 9.7% |
| Amounts payable after more than one year17 | €10,355 | - | - | - | - | - |
| Amounts payable within one year42/48 | €27,081 | €28,055 | €16,594 | €8,002 | €7,223 | ▼ 9.7% |
| Current portion of amounts payable after more than one year42 | - | €10,355 | - | - | - | - |
| Trade debts44 | €8,130 | €6,896 | €813 | €3,416 | €2,477 | ▼ 27.5% |
| Suppliers440/4 | - | €6,896 | €813 | €3,416 | €2,477 | ▼ 27.5% |
| Taxes, remuneration and social security45 | - | €8,876 | €6,752 | €4,585 | €4,746 | ▲ 3.5% |
| Taxes450/3 | - | €1,167 | €6,752 | €4,585 | €4,746 | ▲ 3.5% |
| Remuneration and social security454/9 | - | €7,709 | - | - | - | - |
| Other amounts payable47/48 | - | €1,928 | €9,029 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,987 | €11,670 | €14,289 | €17,948 | €14,825 | ▼ 17.4% |
| + Depreciation and write-downs630 | €8,052 | €11,272 | €8,465 | €8,735 | €8,953 | ▲ 2.5% |
| Operating cash flow (approximation) | €33,039 | €22,942 | €22,753 | €26,682 | €23,778 | ▼ 10.9% |
| Investment in fixed assets (approximation) | - | -€0 | €0 | -€4,997 | €0 | ▲ 100% |
| Change in cash | - | €13,650 | -€4,150 | €8,778 | €21,049 | ▲ 140% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
31-12
Financial
Liquidity doublescurrent ratio 24.30
Current ratio from 11.71 to 24.30; short-term debt falls from €16,594 to €8,002.
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €200,000Eq €211,516 ▲5.8%
4 profitable years in a row build equity to €211,516.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet €9,514 ▼90.4%
Net result drops to €9,514, the lowest in the series; recovery starts the following year.
16-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Couvin · 1 establishment unit since 1981
Ground area
1,833 m²
Building footprint
128 m²
Parcel 93014C0397/00D002, Wallonia. Linked by address, not a title deed.
1 establishment unit
Rue de la Foulerie 8, 5660 Couvin
since 19812.019.767.553
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 93014C0397/00D002 | Wallonia | 1,833 m² | 1 · 128 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 22,827 companies in sector 43211 we hold annual accounts for 10,338. 8,066 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded01-01-1981
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
43212Electrical installation work in industrial facilities
43222Installation of electric heating, air conditioning, cooling and ventilation
43240Other construction installation
47540Retail sale of electrical household appliances
E-invoicing
Reachable via Peppol
Peppol ID
0208:0421145492
Also
9925:BE0421145492
Registered
08-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.