Summary
THIALGO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €490,353 and a net result of €319,478. Equity is growing by ~62.4% per year across the filed fiscal years. Its solvency ranks better than 46% of 8102 sector peers (fiscal year 2025). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 04-08-2026, 4 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 · 10 filingsDeviation from the deadline
2025
4 d late
2024
30 d late
2023
9 d late
2022
32 d early
2022
2 d early
2021
17 d early
2020
29 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 5 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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 7 August (3 of the last 4 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 2025, micro schema
Equity
€490,353▼ 5.9%
2024 · €520,875
Net result
€319,478▲ 371%
2024 · €67,864
Total assets
€1.0m▲ 92.0%
2024 · €546,276
Solvency
46.7%▼ 48.6pp
2024 · 95.4%
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 64, Financial service activities, except insurance and pension funding, 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
Line20222022202320242025
Operating result€116,062▲ 395%€212,504-€166,963▼ 21.4%€84,043▼ 49.7%€3,069▼ 96.3%
Net result€113,814above the sector's middle half▲ 103%€163,507above the sector's middle half-€113,751above the sector's middle half▼ 30.4%€67,864within the sector's middle half▼ 40.3%€319,478above the sector's middle half▲ 371%
Equity€175,753within the sector's middle half▲ 184%€339,260within the sector's middle half-€453,010above the sector's middle half▲ 33.5%€520,875above the sector's middle half▲ 15.0%€490,353above the sector's middle half▼ 5.9%
Total assets€239,622within the sector's middle half▲ 86.7%€361,262within the sector's middle half-€510,245within the sector's middle half▲ 41.2%€546,276within the sector's middle half▲ 7.1%€1.0mabove the sector's middle half▲ 92.0%
Debt€63,869▼ 3.9%€22,002-€57,235▲ 160%€25,401▼ 55.6%€558,618▲ 2,099%
Working capital€36,370within the sector's middle half€199,665above the sector's middle half-€314,073above the sector's middle half▲ 57.3%€382,352above the sector's middle half▲ 21.7%€283,489above the sector's middle half▼ 25.9%
Solvency73.3%within the sector's middle half▲ 25.1pp93.9%above the sector's middle half-88.8%above the sector's middle half▼ 5.1pp95.4%above the sector's middle half▲ 6.6pp46.7%within the sector's middle half▼ 48.6pp
Current ratio1.57within the sector's middle half▲ 1.3710.07above the sector's middle half-6.49above the sector's middle half▼ 3.5916.05above the sector's middle half▲ 9.571.75within the sector's middle half▼ 14.31
Return on assets (ROA)47.5%above the sector's middle half▲ 3.9pp45.3%above the sector's middle half-22.3%within the sector's middle half▼ 23.0pp12.4%within the sector's middle half▼ 9.9pp30.5%above the sector's middle half▲ 18.0pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
Multiple fiscal year ends fall in the same calendar year; an annual trend is not displayed.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€385,139 ▲ 178%
Current assets
€663,832 ▲ 62.8%
Equity and liabilities €1.0m
Equity
€490,353 ▼ 5.9%
Debt
€558,618 ▲ 2,099%
Debt's share of the balance-sheet total rises from 4.6% to 53.3%. Equity is lower and debt is higher.
Key figures and ratios
ROE
65.2%▲
2024 · 13.0%
Debt ≤ 1 year
€380,343▲
2024 · €25,401
Debt > 1 year
€178,276
Income taxes
€1,899▼
2024 · €16,048
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €735 | €3,258 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,101 | €1,033 | €657 | €415 | €27,317 | ▲ 6,478% |
| Other operating charges640/8 | €493 | €156 | €643 | €567 | €23,349 | ▲ 4,015% |
| Gross operating margin9900 | €118,390 | €216,951 | €168,262 | €85,026 | €53,735 | ▼ 36.8% |
| Operating profit (loss)9901 | €116,062 | €212,504 | €166,963 | €84,043 | €3,069 | ▼ 96.3% |
| Financial income75/76B | €17,763 | - | - | - | €323,265 | - |
| Recurring financial income75 | €17,763 | - | - | - | €322,760 | - |
| Non-recurring financial income76B | €17,763 | - | - | - | €505 | - |
| Financial charges65/66B | €779 | €550 | €709 | €131 | €4,957 | ▲ 3,695% |
| Recurring financial charges65 | €779 | €550 | €709 | €131 | €4,957 | ▲ 3,695% |
| Profit (loss) for the period before taxes9903 | €133,045 | €211,954 | €166,254 | €83,912 | €321,377 | ▲ 283% |
| Income taxes67/77 | €19,231 | €48,448 | €52,503 | €16,048 | €1,899 | ▼ 88.2% |
| Profit (loss) for the period9904 | €113,814 | €163,507 | €113,751 | €67,864 | €319,478 | ▲ 371% |
| Profit (loss) for the period to be appropriated9905 | €113,814 | €163,507 | €113,751 | €67,864 | €319,478 | ▲ 371% |
| Line | 2022 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €239,622 | €361,262 | €510,245 | €546,276 | €1.0m | ▲ 92.0% |
| Fixed assets21/28 | €139,382 | €139,595 | €138,938 | €138,522 | €385,139 | ▲ 178% |
| Intangible fixed assets21 | - | - | - | - | €1,300 | - |
| Tangible fixed assets22/27 | €1,101 | €1,313 | €656 | €241 | €245,558 | ▲ 101,745% |
| Land and buildings22 | - | - | - | - | €152,230 | - |
| Plant, machinery and equipment23 | - | €1,038 | €656 | €241 | €759 | ▲ 215% |
| Furniture and vehicles24 | €1,101 | €275 | - | - | - | - |
| Leasing and similar rights25 | - | - | - | - | €92,568 | - |
| Financial fixed assets28 | €138,281 | €138,281 | €138,281 | €138,281 | €138,281 | = |
| Current assets29/58 | €100,240 | €221,667 | €371,307 | €407,753 | €663,832 | ▲ 62.8% |
| Amounts receivable after more than one year29 | - | - | €71,820 | €154,099 | €141,379 | ▼ 8.3% |
| Other amounts receivable291 | - | - | €71,820 | €154,099 | €141,379 | ▼ 8.3% |
| Amounts receivable within one year40/41 | €2,157 | €183,678 | €103,395 | €114,107 | €371,571 | ▲ 226% |
| Trade receivables40 | €2,157 | €181,500 | €103,198 | €96,800 | - | - |
| Other amounts receivable41 | - | €2,178 | €197 | €17,307 | €371,571 | ▲ 2,047% |
| Cash at bank and in hand54/58 | €98,083 | €37,989 | €196,092 | €139,547 | €150,882 | ▲ 8.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €239,622 | €361,262 | €510,245 | €546,276 | €1.0m | ▲ 92.0% |
| Equity10/15 | €175,753 | €339,260 | €453,010 | €520,875 | €490,353 | ▼ 5.9% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €155,753 | €319,260 | €433,010 | €500,875 | €150,875 | ▼ 69.9% |
| Non-distributable reserves130/1 | €2,000 | €2,000 | - | - | - | - |
| Reserves not available under the articles1311 | €2,000 | €2,000 | - | - | - | - |
| Distributable reserves133 | €153,753 | €317,260 | €433,010 | €500,875 | €150,875 | ▼ 69.9% |
| Profit (loss) carried forward14 | - | - | - | - | €319,478 | - |
| Amounts payable17/49 | €63,869 | €22,002 | €57,235 | €25,401 | €558,618 | ▲ 2,099% |
| Amounts payable after more than one year17 | - | - | - | - | €178,276 | - |
| Financial debts170/4 | - | - | - | - | €178,276 | - |
| Amounts payable within one year42/48 | €63,869 | €22,002 | €57,235 | €25,401 | €380,343 | ▲ 1,397% |
| Current portion of amounts payable after more than one year42 | €1,191 | - | - | - | €29,732 | - |
| Trade debts44 | - | - | €1,882 | €2,262 | €2,412 | ▲ 6.6% |
| Suppliers440/4 | - | - | €1,882 | €2,262 | €2,412 | ▲ 6.6% |
| Taxes, remuneration and social security45 | €40,315 | €16,163 | €23,970 | €10,161 | €59,859 | ▲ 489% |
| Taxes450/3 | €40,315 | €16,163 | €23,970 | €10,161 | €59,859 | ▲ 489% |
| Other amounts payable47/48 | €22,363 | €5,839 | €31,383 | €12,978 | €288,340 | ▲ 2,122% |
| Line | 2022 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €113,814 | €163,507 | €113,751 | €67,864 | €319,478 | ▲ 371% |
| + Depreciation and write-downs630 | €1,101 | €1,033 | €657 | €415 | €27,317 | ▲ 6,478% |
| Operating cash flow (approximation) | €114,915 | €164,540 | €114,408 | €68,279 | €346,795 | ▲ 408% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | -€273,934 | - |
| Change in cash | - | - | €158,103 | -€56,545 | €11,335 | ▲ 120% |
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
04-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 4 days late
2025
31-12
Financial
Highest result since 2019net €319,478 ▲371%
Net result €319,478, the highest in the series.
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
31-12
Financial
Liquidity doublescurrent ratio 16.05
Current ratio from 6.49 to 16.05; short-term debt falls from €57,235 to €25,401.
31-12
Financial
Equity above €500,000Eq €520,875 ▲15%
7 profitable years in a row build equity to €520,875.
09-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 9 days late
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity times 6current ratio 10.07
Current ratio from 1.57 to 10.07; short-term debt falls from €63,869 to €22,002.
31-12
Financial
Equity above €200,000Eq €339,260 ▲93%
5 profitable years in a row build equity to €339,260.
29-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
31-03
Financial
Liquidity times 8current ratio 1.57
Current ratio from 0.20 to 1.57; short-term debt falls from €65,245 to €63,869.
31-03
Financial
Equity above €150,000Eq €175,753 ▲184%
4 profitable years in a row build equity to €175,753.
Show earlier events
2021
14-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
02-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
17-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
21-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 21 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
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, Dilsen-Stokkem · 1 establishment unit since 2015
Ground area
910 m²
Building footprint
119 m²
Volume, LiDAR
721 m³
Parcel 72005C0327/00V000, Flanders · tallest building 26.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Wuytershoefstraat 18, 3650 Dilsen-Stokkem
since 20152.240.641.701
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72005C0327/00V000 | Flanders | 910 m² | 1 · 119 m² | 26.2 m · 2 fl. |
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 24,728 companies in sector 64210 we hold annual accounts for 19,805. 13,620 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
Founded24-02-2015
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0598980344
Registered
20-11-2020
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.