THIB EAU
ActiveSummary
THIB EAU has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €46,837 and a net result of €39,086. Its solvency ranks better than 39% of 1,247 sector peers (NACE 42, financial year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Overview
- Equity
- €46,837
- Profit
- €39,086
Why 68raises riskFounded in 2024Size: total assets €132,223Sector: Civil engineering (NACE 42)lowers riskLiquidity: current ratio 1.71, cash €24,547Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 42, micro): better than 40% on solvency, 63% on liquidity, 91% on profitability and 99% on growth.
The bankruptcy probability was computed on 24-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 2 accounts on average 27 days before the deadline; the sector median (NACE 42) for financial year 2024 is 2 days before the deadline, and 41% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Liquidity doublescurrent ratio 1.71
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2024 to 2025, 2 financial years
The operating result rises in 2025; 2025 is over 14 times 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 42, Civil engineering: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 11,280 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 96.6% are still going.
- Micro
- under 2 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a higher bankruptcy probability: 1.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,475 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% | 0.9% |
| 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 74.5% 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 11,280 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.
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €83 | €18,768 | ▲ 227× |
| Other operating charges640/8 | - | €1,851 | - |
| Gross operating margin9900 | €3,705 | €72,049 | ▲ 19× |
| Operating profit (loss)9901 | €3,622 | €51,430 | ▲ 14× |
| Financial income75/76B | - | €1 | - |
| Recurring financial income75 | - | €1 | - |
| Financial charges65/66B | €183 | €2,794 | ▲ 15× |
| Recurring financial charges65 | €183 | €2,794 | ▲ 15× |
| Profit (loss) for the period before taxes9903 | €3,440 | €48,638 | ▲ 14× |
| Income taxes67/77 | €688 | €9,552 | ▲ 14× |
| Profit (loss) for the period9904 | €2,752 | €39,086 | ▲ 14× |
| Profit (loss) for the period to be appropriated9905 | €2,752 | €39,086 | ▲ 14× |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €52,423 | €132,223 | ▲ 152% |
| Formation expenses20 | €1,061 | €0 | ▼ 100% |
| Fixed assets21/28 | €40,364 | €61,207 | ▲ 51.6% |
| Tangible fixed assets22/27 | €40,364 | €61,207 | ▲ 51.6% |
| Plant, machinery and equipment23 | €1,113 | €891 | ▼ 20.0% |
| Furniture and vehicles24 | €800 | €533 | ▼ 33.3% |
| Leasing and similar rights25 | €38,451 | €59,783 | ▲ 55.5% |
| Current assets29/58 | €10,998 | €71,016 | ▲ 546% |
| Amounts receivable within one year40/41 | €7,317 | €45,690 | ▲ 524% |
| Trade receivables40 | €7,317 | €45,690 | ▲ 524% |
| Cash at bank and in hand54/58 | €3,681 | €24,547 | ▲ 567% |
| Deferred charges and accrued income490/1 | - | €778 | - |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €52,423 | €132,223 | ▲ 152% |
| Equity10/15 | €7,752 | €46,837 | ▲ 504% |
| Contributions10/11 | €5,000 | €5,000 | = |
| Reserves13 | €2,752 | €41,837 | ▲ 15× |
| Distributable reserves133 | €2,752 | €41,837 | ▲ 15× |
| Amounts payable17/49 | €44,671 | €85,386 | ▲ 91.1% |
| Amounts payable after more than one year17 | €29,330 | €43,745 | ▲ 49.2% |
| Financial debts170/4 | €29,330 | €43,745 | ▲ 49.2% |
| Amounts payable within one year42/48 | €13,046 | €41,640 | ▲ 219% |
| Current portion of amounts payable after more than one year42 | €9,121 | €16,904 | ▲ 85.3% |
| Trade debts44 | €3,237 | €2,993 | ▼ 7.6% |
| Suppliers440/4 | €3,237 | €2,993 | ▼ 7.6% |
| Taxes, remuneration and social security45 | €688 | €14,473 | ▲ 21× |
| Taxes450/3 | €688 | €14,473 | ▲ 21× |
| Other amounts payable47/48 | - | €7,271 | - |
| Accrued charges and deferred income492/3 | €2,295 | €0 | ▼ 100% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €2,752 | €39,086 | ▲ 14× |
| + Depreciation and write-downs630 | €83 | €18,768 | ▲ 227× |
| Operating cash flow (approximation) | €2,835 | €57,853 | ▲ 20× |
| Investment in fixed assets (approximation) | - | -€39,611 | - |
| Change in cash | - | €20,866 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (2)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 30-06-2026 | 2026-00230499 |
| 31-12-2024 | micro format | 09-07-2025 | 2025-00248709 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| Thibaut SANTRAINE |
|
Owners and capital
Capital and shareholders
- Thibaut SANTRAINE 120 shares (100%)
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 09-12-2024 Incorporation · €5,000 · 120 shares
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
09-12
Gazette deed
IncorporationAppointment: Thibaut SANTRAINE (director) · Founder · Shareholding5 facts ▸
- Incorporation, 05-12-2024
- Founder, Thibaut SANTRAINE (actionnaire)
- Shareholding, 120
- Founding capital, €5,000
- Director appointment, Thibaut SANTRAINE (director)
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 24 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 1017.032.033
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 54002C0389/00V000 | Wallonia | 745 m² | 1 · 154 m² | - |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- THIB EAU
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Rue du Commerce 86-7780 Comines, Rue du Commerce 86-7780 Comines-Warneton” (deed in French)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last Saturday of June