THIBAT
ActiveThe computed 12-month bankruptcy probability of THIBAT is 2.2% (moderate). The 2025 annual accounts show equity of €111k and a net result of €21k. Equity is growing by ~31.3% per year across the filed fiscal years. Its solvency ranks better than 77% of 27559 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
75
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability86=
Solvency98▼-2
Growth78=
Track record94
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity ample (current ratio 6.52 against 7.38 in 2024; short-term debt: 12.2% and cash: 25.6% of total assets), and 27.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
72.6%
Return on assets
13.9%
Age of the figures
9 mo
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 25-03-2026, 128 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
128 d early
2024
37 d early
2023
7 d early
2022
on the day
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€0
2022 · €0
2022: €0
2022 → 2023
Total assets
€153k▲ 47.8%
2024 · €103k
2022: €48k
2023: €98k
2024: €103k
2022 → 2025
Net result
€21k▲ 46.9%
2024 · €14k
2022: €11k
2023: €56k
2024: €14k
2022 → 2025
Working capital
€103k▲ 18.1%
2024 · €87k
2022: €15k
2023: €72k
2024: €87k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Turnover€0-€0
Equity€19k-€75k▲ 292%€90k▲ 19.1%€111k▲ 23.6%
Operating result€15k-€72k▲ 378%€22k▼ 69.8%€29k▲ 34.3%
Net result€11k-€56k▲ 399%€14k▼ 74.3%€21k▲ 46.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 34% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €153k
Fixed assets
€32k▲ 992%
Current assets
€121k▲ 20.5%
Equity and liabilities €153k
Equity
€111k▲ 23.6%
Debt
€42k▲ 207%
The debt ratio rises from 13.2% to 27.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€35k▲
2024 · €23k
Cash flow
€27k▲
2024 · €16k
Solvency
72.6%▼
2024 · 86.8%
Current ratio
6.52▼
2024 · 7.38
Quick ratio
6.52▼
2024 · 7.38
Debt / equity
0.38▲
2024 · 0.15
ROE
19.1%▲
2024 · 16.1%
ROA
13.9%▼
2024 · 13.9%
Interest coverage
15.27▲
2024 · 14.22
Debt
€42k▲
2024 · €14k
Debt ≤ 1 year
€19k▲
2024 · €14k
Debt > 1 year
€23k
Income taxes
€6k▲
2024 · €6k
Staff costs
€10k▲
2024 · €7k
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€103k€153k▲
Fixed assets21/28€3k€32k▲
Tangible fixed assets22/27€3k€32k▲
Plant, machinery and equipment23€566€2k▲
Furniture and vehicles24€2k€29k▲
Current assets29/58€100k€121k▲
Amounts receivable within one year40/41€12k€79k▲
Trade receivables40€131€2k▲
Other amounts receivable41€12k€78k▲
Cash at bank and in hand54/58€85k€39k▼
Deferred charges and accrued income490/1€3k€2k▼
Equity and liabilities
Total equity and liabilities10/49€103k€153k▲
Equity10/15€90k€111k▲
Contributions10/11€8k€8k=
Reserves13€14k€14k=
Distributable reserves133€14k€14k=
Profit (loss) carried forward14€68k€89k▲
Amounts payable17/49€14k€42k▲
Amounts payable after more than one year17-€23k
Financial debts170/4-€23k
Amounts payable within one year42/48€14k€19k▲
Current portion of amounts payable after more than one year42-€7k
Trade debts44-€2k
Suppliers440/4-€2k
Taxes, remuneration and social security45€4k€10k▲
Taxes450/3€2k€6k▲
Remuneration and social security454/9€3k€4k▲
Other amounts payable47/48€9k-
Accrued charges and deferred income492/3€17-
Income statement
Code20242025
Remuneration, social security and pensions62€7k€10k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€6k▲
Other operating charges640/8€385€1k▲
Non-recurring operating charges66A-€1k
Gross operating margin9900€31k€48k▲
Operating profit (loss)9901€22k€29k▲
Financial income75/76B€0€129▲
Recurring financial income75€0€129▲
Financial charges65/66B€2k€2k▲
Recurring financial charges65€2k€2k▲
Profit (loss) for the period before taxes9903€20k€27k▲
Income taxes67/77€6k€6k▲
Profit (loss) for the period9904€14k€21k▲
Profit (loss) for the period to be appropriated9905€14k€21k▲
Appropriation of the result
Profit (loss) to be appropriated9906€82k€89k▲
Profit (loss) brought forward from the previous period14P€67k€68k▲
Transfer to equity691/2€14k-
To other reserves6921€14k-
The notes to these accounts (8 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
25-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Equity above €100kEq €111k ▲23.6%
4 profitable years in a row build equity to €111k.
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2022net €56k ▲399%
Operating result €72k, net result €56k, both a record.
31-12
Financial
Liquidity triplescurrent ratio 4.16
Current ratio from 1.51 to 4.16; short-term debt falls from €29k to €23k.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Waremme · 1 establishment unit since 2021
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.
Rue de Remicourt 44300 WaremmeGround area
9,323 m²
Building footprint
231 m²
Volume, LiDAR
1,587 m³
Parcel 64014A0594/00D000, Wallonia · tallest building 10.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Thibat
since 20212.328.746.603
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 64014A0594/00D000 | Wallonia | 9,323 m² | 1 · 231 m² | 10.8 m · 2 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
EDILCONSTRUCT
BE 0649.639.187
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Bas Dakwerken
BE 0781.463.177
Pajottegem · Eq €111k
CONSTRUCTION B&M
BE 0778.498.244
Charleroi · Eq €111k
TOITURES NASSOGNE ET FILS
BE 0807.410.776
Nassogne · Eq €111k
RENO-DAK
BE 0500.694.994
Brasschaat · Eq €111k
Of 11,139 companies in sector 43910 we hold annual accounts for 5,486. 4,798 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded30-12-2021
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
43910Bricklaying and masonry work
43994Specialised construction activities
43110Demolition
43120Site preparation
43230Insulation installation
43291Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.