T. H. CONSTRUCTION

Active

Private limited companyfounded 20206 yrs activeBoomgaardoord 12, 1950 Kraainem, BelgiumKBO/BCE: BE 0743.497.476

The computed 12-month bankruptcy probability of T. H. CONSTRUCTION is 2.1% (moderate). The 2024 annual accounts show equity of €81k and a net result of €13k. Equity is growing by ~34.5% per year across the filed fiscal years. Its solvency ranks better than 80% of 9981 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

79 / 100

Excellent

The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability83▼-14

Solvency96▼-4

Growth78=

Track record100

Bankruptcy probability, 12 months

2.1% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €6k at 30 days acceptable

Liquidity ample (current ratio 3.1 against 5.5 in 2023; short-term debt: 29.3% and cash: 37.9% of total assets), and 29.3% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Four signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 41

Relative position

BE, all sectors

reference

Sector 41

higher

← fewer bankruptcies more bankruptcies →

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-08-2025, 26 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

NBB · 5 filings

Deviation from the deadline

2025

not confirmed

2024

26 d late

2023

30 d late

2022

32 d early

2021

24 d late

2020

45 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Equity

€81k▲ 18.8%

2023 · €68k

2020: €11k 2021: €34k 2022: €50k 2023: €68k

2020 → 2024

Total assets

€114k▲ 38.8%

2023 · €82k

2020: €22k 2021: €64k 2022: €73k 2023: €82k

2020 → 2024

Net result

€13k▼ 30.4%

2023 · €18k

2020: €7k 2021: €23k 2022: €15k 2023: €18k

2020 → 2024

Working capital

€70k▲ 9.1%

2023 · €64k

2020: €9k 2021: €33k 2022: €43k 2023: €64k

2020 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€11k-€34k▲ 213%€50k▲ 44.3%€68k▲ 37.0%€81k▲ 18.8%

Operating result€8k-€32k▲ 285%€20k▼ 37.6%€24k▲ 22.8%€18k▼ 27.3%

Net result€7k-€23k▲ 236%€15k▼ 34.9%€18k▲ 20.4%€13k▼ 30.4%

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 27% below 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €114k

90.8%

Fixed assets €11k▲ 191%

Current assets €103k▲ 31.8%

Equity and liabilities €114k

70.7%

29.3%

Equity €81k▲ 18.8%

Debt €33k▲ 134%

The debt ratio rises from 17.4% to 29.3%. Equity and debt are higher.

Key figures and ratios

2024 value · change against 2023

EBITDA

€21k▼

2023 · €27k

Cash flow

€16k▼

2023 · €21k

Solvency

70.7%▼

2023 · 82.6%

Current ratio

3.10▼

2023 · 5.50

Quick ratio

3.10▼

2023 · 5.50

Debt / equity

0.41▲

2023 · 0.21

ROE

15.8%▼

2023 · 27.0%

ROA

11.2%▼

2023 · 22.3%

Interest coverage

18.33▼

2023 · 21.30

Debt

€33k▲

2023 · €14k

Debt ≤ 1 year

€33k▲

2023 · €14k

Income taxes

€4k▼

2023 · €5k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€82k€114k▲

Fixed assets21/28€4k€11k▲

Tangible fixed assets22/27€3k€8k▲

Plant, machinery and equipment23€2k€3k▲

Furniture and vehicles24€579€5k▲

Financial fixed assets28€950€3k▲

Current assets29/58€78k€103k▲

Amounts receivable within one year40/41€73k€59k▼

Trade receivables40€70k€53k▼

Other amounts receivable41€3k€6k▲

Cash at bank and in hand54/58€4k€43k▲

Deferred charges and accrued income490/1€2k€2k▼

Equity and liabilities

Total equity and liabilities10/49€82k€114k▲

Equity10/15€68k€81k▲

Contributions10/11€4k€4k=

Profit (loss) carried forward14€64k€77k▲

Amounts payable17/49€14k€33k▲

Amounts payable within one year42/48€14k€33k▲

Current portion of amounts payable after more than one year42€849€860▲

Trade debts44€2k€31k▲

Suppliers440/4€2k€31k▲

Taxes, remuneration and social security45€10k€1k▼

Taxes450/3€4k€1k▼

Remuneration and social security454/9€7k-

Other amounts payable47/48€830€1k▲

Income statement Code20232024

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€3k▲

Other operating charges640/8€1k€2k▲

Gross operating margin9900€28k€23k▼

Operating profit (loss)9901€24k€18k▼

Financial income75/76B€0€0▼

Recurring financial income75€0€0▼

Financial charges65/66B€1k€1k▼

Recurring financial charges65€1k€1k▼

Profit (loss) for the period before taxes9903€23k€17k▼

Income taxes67/77€5k€4k▼

Profit (loss) for the period9904€18k€13k▼

Profit (loss) for the period to be appropriated9905€18k€13k▼

Appropriation of the result

Profit (loss) to be appropriated9906€64k€77k▲

Profit (loss) brought forward from the previous period14P€46k€64k▲

The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 6Financial 1Filings 5

2025

26-08

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 26 days late

2024

30-08

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 30 days late

2023

29-06

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

24-08

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 24 days late

2021

31-12

Financial Highest result since 2020net €23k ▲236%

Operating result €32k, net result €23k, both a record.

14-09

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 45 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

3 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, Kraainem · 1 establishment unit since 2020

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Boomgaardoord 121950 Kraainem

Ground area

2,416 m²

Building footprint

287 m²

Volume, LiDAR

1,690 m³

2 parcels, Flanders · tallest building 11.6 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

T. H. CONSTRUCTION

Boomgaardstraat 12, 1950 KraainemManufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials

since 20202.299.372.726

2 parcels

Flanders 2 (100%)