T.H.D.
ActiveT.H.D. has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €351k and a net result of €-19k. Equity is shrinking by ~2.6% per year across the filed fiscal years. Its solvency ranks better than 47% of 7321 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
23
/ 100
Critical▲ +8 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency56▼-1
Growth58=
Stability100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.64 against 0.67 in 2024), and 59.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · 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 →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
40.9%
Return on assets
-2.2%
Age of the figures
15 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€19k
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 29-01-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
45 d early
2023
56 d early
2022
42 d early
2021
4 d early
2020
26 d early
2019
45 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close15-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€351k▼ 5.2%
2024 · €370k
2019: €424k
2020: €403k
2021: €395k
2022: €406k
2023: €404k
2024: €370k
2019 → 2025
Total assets
€859k▼ 3.7%
2024 · €892k
2019: €1.10M
2020: €794k
2021: €769k
2022: €854k
2023: €827k
2024: €892k
2019 → 2025
Net result
€-19k▲ 42.7%
2024 · €-33k
2019: €-66k
2020: €-21k
2021: €-8k
2022: €12k
2023: €-2k
2024: €-33k
2019 → 2025
Working capital
€-174k▼ 6.7%
2024 · €-163k
2019: €179k
2020: €-29k
2021: €-61k
2022: €-50k
2023: €-50k
2024: €-163k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€395k-€406k▲ 2.7%€404k▼ 0.5%€370k▼ 8.3%€351k▼ 5.2%
Operating result€-8k-€10k€-2k€-19k▼ 742%€-20k▼ 2.0%
Net result€-8k-€12k€-2k€-33k▼ 1,474%€-19k▲ 42.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €20k in 2025 against €19k in 2024; the loss grows and 2025 is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €859k
Fixed assets
€545k▼ 1.7%
Current assets
€314k▼ 7.1%
Equity and liabilities €859k
Equity
€351k▼ 5.2%
Provisions
€20k▼ 5.7%
Debt
€487k▼ 2.6%
The debt ratio rises from 56.1% to 56.8%: equity shrinks faster than debt is paid down.
Key figures and ratios
EBITDA
€-913▼
2024 · €667
Cash flow
€-384▲
2024 · €-13k
Solvency
40.9%▼
2024 · 41.5%
Current ratio
0.64▼
2024 · 0.67
Quick ratio
0.43▼
2024 · 0.46
Debt / equity
1.39▲
2024 · 1.35
ROE
-5.4%▲
2024 · -9.0%
ROA
-2.2%▲
2024 · -3.7%
Interest coverage
-2.16▼
2024 · 0.04
Debt
€487k▼
2024 · €500k
Debt ≤ 1 year
€487k▼
2024 · €500k
Income taxes
€286▼
2024 · €299
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€892k€859k▼
Fixed assets21/28€555k€545k▼
Intangible fixed assets21€28k€25k▼
Tangible fixed assets22/27€526k€520k▼
Land and buildings22€457k€452k▼
Plant, machinery and equipment23€3k€11k▲
Furniture and vehicles24€66k€57k▼
Financial fixed assets28€0-
Current assets29/58€338k€314k▼
Stocks and contracts in progress3€105k€105k=
Stocks30/36€105k€105k=
Amounts receivable within one year40/41€770€756▼
Trade receivables40€770€756▼
Cash at bank and in hand54/58€230k€206k▼
Deferred charges and accrued income490/1€2k€2k▲
Equity and liabilities
Total equity and liabilities10/49€892k€859k▼
Equity10/15€370k€351k▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€308k€289k▼
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132€40k€38k▼
Distributable reserves133€262k€245k▼
Provisions and deferred taxes16€22k€20k▼
Deferred taxes168€22k€20k▼
Amounts payable17/49€500k€487k▼
Amounts payable within one year42/48€500k€487k▼
Trade debts44€2k€2k▲
Suppliers440/4€2k€2k▲
Advances received on contracts in progress46€0-
Taxes, remuneration and social security45€820€561▼
Taxes450/3€820€561▼
Other amounts payable47/48€498k€484k▼
Income statement
Code20242025
Non-recurring operating income76A€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€20k€19k▼
Other operating charges640/8€4k€5k▲
Gross operating margin9900€4k€4k▼
Operating profit (loss)9901€-19k€-20k▼
Financial income75/76B€0€0▼
Recurring financial income75€0€0▼
Financial charges65/66B€15k€423▼
Recurring financial charges65€15k€423▼
Profit (loss) for the period before taxes9903€-34k€-20k▲
Transfer from deferred taxes780€1k€1k=
Income taxes67/77€299€286▼
Profit (loss) for the period9904€-33k€-19k▲
Transfer from tax-exempt reserves789€2k€2k=
Profit (loss) for the period to be appropriated9905€-31k€-17k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-31k€-17k▲
Transfer from equity791/2€31k€17k▼
Transfer to equity691/2€0-
To other reserves6921€0-
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
17-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
06-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
20-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
30-06
Financial
Back to profitnet €12k
Net result €12k after 3 loss-making years.
27-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
05-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
17-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
21-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
18-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
09-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Deerlijk · 1 establishment unit since 1987
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.
De Cassinastraat 208540 DeerlijkGround area
1,236 m²
Building footprint
230 m²
Volume, LiDAR
941 m³
Parcel 34392C0455/00L000, Flanders · tallest building 7.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
T.H.D. NV
since 19872.029.746.675
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34392C0455/00L000 | Flanders | 1,236 m² | 1 · 230 m² | 7.3 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
BOUWWERKEN VAN HECKE
BE 0897.197.243
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BE 0833.546.932
Beveren-Kruibeke-Zwijndrecht · Eq €351k
VDC BOUW
BE 0533.939.864
Geel · Eq €351k
Aannemingen Hermans Sven
BE 0788.486.472
Retie · Eq €351k
Algemene Bouwwerken Van De Putte Herman
BE 0463.121.352
Berlaar · Eq €351k
Of 29,535 companies in sector 41001 we hold annual accounts for 15,872. 10,389 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded22-09-1987
Fiscal year end30-06
Activities, NACEBEL
41001General construction of residential buildings
45211
68121Development of residential building projects
43110Demolition
45111
68201Renting and operating of own or leased residential real estate, excluding social housing
70111
Sources
Crossroads Bank for EnterprisesNational Bank · 37 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.