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THIBELO

In bankruptcy Private limited companyfounded 1987Haie des Chênes 12FF1, 4140 SprimontKBO/BCE: BE 0430.296.552 subsidiary of DECA PACKAGING GROUP

Overview

Information for creditors

Enterprise Court of Liège, Liège division · Official Gazette of 12-09-2025
Appeal or third-party opposition 27-09-2025Filing the claim in RegSol 08-10-2025First verification report 23-10-2025Late claim 08-09-2026

Trustees: Edouard Franck, Laurent Winkin. The judgment is more than a year old. A claim can no longer be filed, not even late. The trustee knows whether anything will still be paid out.

Lifetime

17 annual accounts with figures on one time axis, 38 filings since 1987
peak €517,387 (2019)
-€39,199▲ €17,254
lowest -€165,694 (2021)
-€45,873▲ €26,104
peak €377,430 (2020)
-€44,246▼ €45,873
€64,339▼ 12.5%
peak 5.6 FTE (2017)
-not published
Board1 name since 2021
1 directorSEGHERS Thierry
Owners3 names in the annual accounts
  
Documentsfilings and deeds
10-07-202521 days before the deadline
2024micro format
Gross margin from -€56,453 to -€39,199Loss of €45,873Equity from €1,626 to -€44,246Cash from €1,020 to €14,039

Key points

from the 2024 annual accounts, the last ones filed

Equity

-€44,246 from €377,430 in 2020

Equity fell below zero in 2024.

Losses

-€358,873 in four years
-165,6942021-75,3312022-71,9762023-45,8732024

Every financial year from 2021 to 2024 closed with a loss. 2021 was the heaviest.

Debts

€64,339 320% of the balance sheet
After one year 0%Within one year 100%

Of this, €64,326 falls due within a year.

Liquidity

0.31 was 0.88 in 2023

Short-term debts fell from €73,478 to €64,326.

Filings

38 annual accounts since 1987
AprilJune31 JulyOctober1990200020102020

Three of the last ten came late. The 2019 accounts came latest: 91 days after the end of the period.

No score

Board and ownership

ST
SEGHERS Thierry
Director
  • DECA PACKAGING GROUP 99%equity €4.1m (2025) · annual accounts 2016
  • DECAPAC 1%score 95equity €13.8m (2025) · annual accounts 2016
  • DECATECHNIC 1%score 95equity €2.3m (2025) · annual accounts 2016
Board & ownership

Recent changes

Bankruptcy published Enterprise Court of Liège, Liège division · judgment of 08-09-2025 · Bankruptcy
Deed on restructuring Capital €186,404, annual accounts 2019 · Gazette deed
First establishment Rue du Têris 21, Seraing
Incorporation 23 publications in the Belgian Official Gazette, the last on 29-04-2020 · published on 07-02-1987 · Gazette deed
All 46 events

Official details

Source: KBO
Status
In bankruptcydeclared bankrupt on 08-09-2025
Registered office
31 active companies are registered at this address1 started in the 12 months before. Source: KBO register, as of 7 November 2026.
Activity
Wholesale of non-electrical household articlesNACE 46494
Establishment unit
2.031.079.0404100 Seraing, since 30-01-1987
Financial year end
31 December
Peppol
Not found in the Peppol Directory
Company details

Annual accounts 2024

-€39,199▲ 30.6%
€45,873▼ 36.3%
-€44,246
€20,093▼ 73.3%
Filing
Filed on 10-07-2025
Financials

Insights on THIBELO

Equity fell from €377,430 in 2020 to -€44,246 in 2024.

On 8 September 2025 the court declared THIBELO bankrupt.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2024

micro format, filed on 10-07-2025, 21 days before the deadline
-€39,199
▲ €17,254
-€50,890
▲ €13,069
-€40,512
▲ €13,069
-€35,495
▲ €26,104
-220.2%
▼ 222.4 percentage points
0.31
▼ 0.57

Balance sheet

balance sheet total €20,093 on 31-12-2024
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

-220.2%

Higher than 5% of 15,427 companies in 2024.

0.31

Higher than 8% of 14,728 companies in 2024.

-228.3%

Lower than 95% of 14,945 companies in 2024.

THIBELO Middle half of the sector 80% of the sector Micro accounts in wholesale trade (NACE 46)

Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter

Staff

Staff costs divided by the average number of full-time equivalents.

people who joined people who left

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20242023202220212020201920182017201620152014201320122011201020092008
Balance sheet: assets
20/58 20,09375,129215,283302,308480,605793,583773,691763,664522,296438,191611,111514,448336,451398,614475,234383,948316,020
21/28 010,37820,75637,00153,74977,716129,36978,95065,81384,85073,63354,64023,06382,60659,45755,85448,298
21 010,37820,75635,37350,18364,99270,38911,5134,5996,9274,4304,089-----
22/27 0001,6273,17612,72455,22763,68357,46477,92369,20450,55123,06382,60659,45755,85448,298
23 ----07,79512,89112,67416,45622,25720,3257712,25327,78523,07824,48833,918
24 0001,6273,1763,64838,55340,30023,37430,37333,80946,86116,56354,82136,37931,36614,380
26 -0--01,2813,78210,70917,63525,29415,0702,9184,247----
28 ---039003,7543,7543,750--------
29/58 20,09364,752194,527265,307426,856715,866644,321684,714456,483353,341537,478459,808313,387316,008415,777328,094267,722
29 -------------12,24312,24312,24312,243
291 -------------12,24312,24312,24312,243
3 ----078,555300,066318,757114,776137,305115,156100,19687,32876,03968,95669,95665,072
30/36 ----078,555300,066318,757114,776137,305115,156100,19687,32876,03968,95669,95665,072
40/41 6,05313,84668,366161,965102,650205,578219,795100,02790,62461,42362,76658,62956,33581,212131,661102,47254,334
40 --09,97865,651189,773218,13899,98075,31361,42362,76657,03552,06581,212131,661102,47254,334
41 6,05313,84668,366151,98736,99915,8041,6574715,312-01,5954,270----
50/53 049,886124,49499,746224,884------------
54/58 14,0391,0201,3282,10398,402221,442113,248265,498249,688154,204359,118300,585169,725146,514202,917143,423129,886
490/1 -03391,493920210,29211,2144331,394409438397----6,187
Balance sheet: equity and liabilities
10/49 20,09375,129215,283302,308480,605793,583773,691763,664522,296438,191611,111514,448336,451398,614475,234383,948316,020
10/15 -44,2461,626136,406211,737377,430377,186374,353372,662371,178344,918310,43191,338253,601257,846255,667239,705194,043
10/11 123,600123,600186,404186,404186,404186,404186,404186,404186,404186,404186,4046,3966,39618,59218,59218,59218,592
100 -----198,600198,600198,600198,600198,600198,60018,59218,59218,59218,59218,59218,592
101 -----12,19612,19612,19612,19612,19612,19612,19612,196----
13 171,259171,259171,259186,259186,259186,259187,949186,259184,774158,514124,02784,942247,205239,254237,075221,113175,451
130/1 --019,86019,860------------
130 -----19,86019,86019,86019,86019,86019,8601,1471,1471,1471,1471,1471,147
1311 --019,86019,860------------
132 --015,00015,00015,00015,00015,00015,00015,000-------
133 171,259171,259171,259151,399151,399151,399153,089151,399149,914123,654104,16783,795246,058238,107235,928219,966174,304
14 -339,105-293,233-221,256-160,9264,7684,5230----------
17/49 64,33973,50378,87790,571103,174416,397399,338391,002151,11893,273300,681423,11082,850140,768219,567144,243121,977
17 --010,61123,209176,310178,950170,141-----48,39032,56324,42035,348
170/4 --010,61123,209176,310178,950170,141-----1,2791,2792,2793,778
178/9 -------------47,11131,28422,14131,570
42/48 64,32673,47878,22779,81679,711240,087220,388220,831149,38491,279300,536423,11082,73188,224181,537118,09986,629
42 -010,61112,59712,45050,60334,87727,57618,346-00-----
43 --------03-------
430/8 --------03-------
44 64,32668,23062,62362,18767,107177,444163,126173,31354,60919,76349,13025,88562,43068,114156,14199,06767,271
440/4 64,32668,23062,62362,18767,107177,444163,126173,31354,60919,76349,13025,88562,43068,114156,14199,06767,271
45 05,2483,7504,55403,45616,17118,70326,42921,51340,8088,03917,62220,11025,39619,03219,358
450/3 05,2483,7504,554005,5677,75113,03614,15218,4621695,738----
454/9 ----03,45610,60410,95213,3937,36022,3467,87011,88420,11025,39619,03219,358
47/48 -01,2434771538,5846,2141,23950,00050,000210,597389,1862,679----
492/3 132665014425500291,7341,99414501194,1545,4671,724-
Income statement
70 --0000-----------
76A ---------129-------
9900 -39,199-56,453-50,509-124,72288,491517,387165,724131,390136,524161,221161,609135,115118,733202,798208,278238,543213,166
60/61 -58,8770000-----------
62 ---6120,45788,340129,51498,83657,29065,43566,40166,93888,55678,76181,76180,98276,009
630 10,37810,37816,24516,35816,58212,93526,94026,24230,19933,11726,77119,95316,80317,91413,02612,1269,551
631/4 --4,050250-7384,538-------752,724----
635/8 -------0---------
640/8 1,3121,1782,32518,80112,17215,2431,5333,7502,8492,7305,3762,6285,046103,94497,52999,774104,453
66A ----19,356392,965------352----
9901 -50,890-63,959-69,329-159,20515,3867,9047,7362,56246,18659,94063,06145,6705,6042,17915,96245,66123,153
75/76B 119301221,1372,42134192,0164,8852,0442,663945----
75 119301221,1372,42134192,0164,8852,0442,663945----
65/66B 1621,4641,6932,0575,4235,2176,0482,2894,4168,21610,6341,357696----
65 1621,4641,6932,0575,4235,2176,0482,2894,4168,21610,6341,357696----
9903 -51,051-65,230-71,021-161,14011,1005,1081,69069243,78656,73854,47146,9755,5012,17915,96245,66123,153
67/77 -5,1786,7464,3094,55410,8562,275--79217,52622,25015,3783,238-2,449----
9904 -45,873-71,976-75,331-165,6942452,8331,6901,48426,26019,48739,09343,7377,9502,17915,96245,66123,153
789 --15,000--------------
9905 -45,873-71,976-60,331-165,6942452,8331,6901,48426,26019,48739,09343,7377,9502,17915,96245,66123,153
Appropriation of the result
9906 -339,105-293,233-221,256-160,9264,7684,5231,6901,48426,26019,48739,09343,7377,9502,17915,96245,66123,153
14P -293,233-221,256-160,9264,768-------------
791/2 --19,860-------8200,000-----
691/2 --19,860---1,6901,48426,26019,48739,10137,7377,9502,17915,96245,66123,153
691 ----------8------
6920 -------1,48426,26019,48718,71337,737-----
6921 --19,860---1,690---20,380-7,9502,17915,96245,66123,153
694/7 -----------206,000-----
694 -----------200,000-----
695 -----------6,000-----
Social balance sheet
9087 ----23.24.95.643.13232222
Hours worked1013 ----3194,5326,5445,4803,7923,7703,7244,0281,8001,6001,6001,6001,600
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The accounts for 21 older financial years (1987-2007) were filed as documents without figures as data, scans for example.

The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2024 (PDF), filed on 10-07-2025.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2024 micro format 10-07-2025 2025-00253192 PDF
31-12-2023 micro format 18-07-2024 2024-00256328 PDF
31-12-2022 micro format 27-07-2023 2023-00276703 PDF
31-12-2021 micro format 31-08-2022 2022-20367945 PDF
31-12-2020 micro format 30-07-2021 2021-44400346 PDF
31-12-2019 full format 30-10-2020 2020-65800302 PDF
31-12-2018 full format 25-07-2019 2019-38300345 PDF
31-12-2017 full format 31-07-2018 2018-43000451 PDF
31-12-2016 full format 14-09-2017 2017-60900492 PDF
31-12-2015 full format 28-07-2016 2016-37900305 PDF
31-12-2014 full format 26-08-2015 2015-49200451 PDF
31-12-2013 full format 29-07-2014 2014-37800136 PDF
31-12-2012 full format 01-08-2013 2013-38900124 PDF
31-12-2011 full format 14-05-2012 2012-11500052 PDF
31-12-2010 full format 31-05-2011 2011-12700402 PDF
31-12-2009 full format 17-05-2010 2010-12000019 PDF
31-12-2008 full format 25-05-2009 2009-16900225 PDF
31-12-2007 full format 09-05-2008 2008-12300322 PDF
31-12-2006 full format 25-05-2007 2007-15500063 PDF
31-12-2005 full format 17-05-2006 2006-15002038 PDF
31-12-2004 full format 21-04-2005 2005-12502882 PDF
31-12-2003 full format 03-05-2004 2004-13200356 PDF
31-12-2002 full format 25-04-2003 2003-12002878 PDF
31-12-2001 full format 06-05-2002 2002-11600245 PDF
31-12-2000 full format 27-04-2001 2001-11101049 PDF
31-12-1999 full format 20-04-2000 2000-10503073 PDF
31-12-1998 full format 03-05-1999 1999-09000296 PDF
31-12-1997 full format 27-04-1998 1998-07702939 PDF
31-12-1996 full format 05-05-1997 1997-07101484 PDF
31-12-1995 full format 22-04-1996 1996-06401747 PDF
31-12-1994 full format 18-04-1995 1995-06003742 PDF
31-12-1993 full format 25-04-1994 1994-06800548 PDF
31-12-1992 full format 23-04-1993 1993-05403774 PDF
31-12-1991 full format 23-04-1992 1992-04503134 PDF
31-12-1990 full format 19-04-1991 1991-04103909 PDF
31-12-1989 full format 24-04-1990 1990-03404144 PDF
31-12-1988 full format 19-04-1989 1989-02901088 PDF
31-12-1987 full format 21-04-1988 1988-02703623 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20242023202220212020201920182017201620152014201320122011201020092008
-40,512-53,581-53,084-142,84731,96820,83934,67628,80476,38593,05789,83265,62322,40720,09328,98857,78732,704
-35,495-61,598-59,085-149,33516,82615,76828,63127,72656,45952,60465,86463,69124,75420,09328,98857,78732,704
000-3902,125-38,71899,55948,10011,16244,33345,76551,5304,37228,0374,50310,13140,090
13,020-308-775-96,299-123,040108,194-152,25015,81095,484-204,91458,532130,86123,211-56,40359,49413,537-
-44,234-8,726116,300185,491347,145475,779423,934463,883307,099262,062236,94236,698230,656227,784234,240209,995181,093
-220.2%2.2%63.4%70.0%78.5%47.5%48.4%48.8%71.1%78.7%50.8%17.8%75.4%64.7%53.8%62.4%61.4%
0.310.882.493.325.362.982.923.103.063.871.791.093.793.582.292.783.09
0.310.882.493.325.362.651.561.662.292.371.410.852.732.721.912.192.34
-45.200.580.430.271.101.071.050.410.270.974.630.330.550.860.600.63
---55.2%-78.3%0.1%0.8%0.5%0.4%7.1%5.6%12.6%47.9%3.1%0.8%6.2%19.0%11.9%
-228.3%-95.8%-35.0%-54.8%0.1%0.4%0.2%0.2%5.0%4.4%6.4%8.5%2.4%0.5%3.4%11.9%7.3%
-250.43-36.59-31.36-69.43-------------
-423 days---------------

EBIT margin: not included in this filing.

Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Insights on THIBELO

The operating result for 2024 is a loss of €50,890, smaller than the loss of €63,959 in 2023.

Equity is negative. Debt (€64,339) exceeds the balance-sheet total (€20,093).

Board & ownership

Curators

the curators have managed the company since 08-09-2025
Curator, Rue Des Augustins 32, 4000 Liege 1
Also on 136 other cases
Curator, Rue Des Augustins 32, 4000 Liege 1- mersch.be
Also on 135 other cases

Last board

1 director
SEGHERS Thierry
Director
listed in the 2024 annual accounts, filed on 10-07-2025

Office holders in the KBO →

Mandates through the years

1 name, the dashed line is today
SEGHERS Thierry
Director
Boardmandate already running before its first mentionBankruptcy 08-09-2025
Mandates as a list
  • SEGHERS Thierry
    • Director, from before 31-12-2021, until the bankruptcy of 08-09-2025

See the board, name and registered office on a given date →

Control

Parent
Equity €4.1m
Profit €2.9m in 2025 (profit €666,156 in 2024)
748 voting rights
99%
This company
THIBELO
Equity -€44,246
Loss €45,873 in 2024

and 2 other shareholders

Capital

Contribution
€123,600
Source
2024 annual accounts

Owners through the years

as the annual accounts name them
Owners as a list

Source: shareholder structure in its own accounts, lists of holdings in the owners' accounts

Shareholders

3 owners

Owners 3

Network & group

Parent

DECA PACKAGING GROUP
0471.089.408 · 99% of the shares · equity €4.1m · profit €2.9m (2025)

Connections & network

1 last director
Depth

The network starts from the directors of THIBELO. Every other company they run is a node.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.

Timeline

Timeline

46 events since 1987
2025
Bankruptcy published Enterprise Court of Liège, Liège division · judgment of 08-09-2025
Annual accounts 2024 filed PDFmicro format · 21 days before the deadline
2024
Annual accounts 2023 filed PDFmicro format · 13 days before the deadline
2023
Annual accounts 2022 filed PDFmicro format · 4 days before the deadline
2022
Annual accounts 2021 filed PDFmicro format · 31 days late
2021
Weakest financial year net -€165,694 The net result drops to -€165,694, the lowest from 2008 to 2024.
Annual accounts 2020 filed PDFmicro format · 1 day before the deadline
2020
Annual accounts 2019 filed PDFfull format · 91 days late
2019
Annual accounts 2018 filed PDFfull format · 6 days before the deadline
Deed on restructuring Capital €186,404, annual accounts 2019
2018
Annual accounts 2017 filed PDFfull format · on the deadline day
2017
Annual accounts 2016 filed PDFfull format · 45 days late
2016
Annual accounts 2015 filed PDFfull format · 3 days before the deadline
2015
Liquidity more than doubled current ratio 3.87 The current ratio rises from 1.79 to 3.87. Short-term debt falls from €300,536 to €91,279.
Annual accounts 2014 filed PDFfull format · 26 days late
2014
Annual accounts 2013 filed PDFfull format · 2 days before the deadline
2013
Annual accounts 2012 filed PDFfull format · 1 day late
2012
Annual accounts 2011 filed PDFfull format · 78 days before the deadline
2011
Annual accounts 2010 filed PDFfull format · 61 days before the deadline
2010
Annual accounts 2009 filed PDFfull format · 75 days before the deadline
2009
Highest result from 2008 to 2024 net €45,661 ▲97.2% The net result of €45,661 is the highest of those years.
Equity above €200,000 equity €239,705 ▲23.5% With a profit in every financial year since 2008, equity grows to €239,705.
Annual accounts 2008 filed PDFfull format · 67 days before the deadline
2008
Annual accounts 2007 filed PDFfull format · 83 days before the deadline
2007
Annual accounts 2006 filed PDFfull format · 67 days before the deadline
2006
Annual accounts 2005 filed PDFfull format
2005
Annual accounts 2004 filed PDFfull format
2004
Annual accounts 2003 filed PDFfull format
2003
Annual accounts 2002 filed PDFfull format
2002
Annual accounts 2001 filed PDFfull format
2001
Annual accounts 2000 filed PDFfull format
2000
Annual accounts 1999 filed PDFfull format
1999
Annual accounts 1998 filed PDFfull format
1998
Annual accounts 1997 filed PDFfull format
1997
Annual accounts 1996 filed PDFfull format
1996
Annual accounts 1995 filed PDFfull format
1995
Annual accounts 1994 filed PDFfull format
1994
Annual accounts 1993 filed PDFfull format
1993
Annual accounts 1992 filed PDFfull format
1992
Annual accounts 1991 filed PDFfull format
1991
Annual accounts 1990 filed PDFfull format
1990
Annual accounts 1989 filed PDFfull format
1989
Annual accounts 1988 filed PDFfull format
1988
Annual accounts 1987 filed PDFfull format
1987
First establishment Rue du Têris 21, Seraing
Incorporation 23 publications in the Belgian Official Gazette, the last on 29-04-2020 · published on 07-02-1987

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

On 2 January 1987, THIBELO was incorporated.1 Total assets went from €773,691 in 2018 to €20,093 in 2024 and headcount from 4.9 full-time equivalents in 2018 to 2 in 2020.2 The company was declared bankrupt on 8 September 2025.3

  1. 1KBO register
  2. 2National Bank, annual accounts 2018, 2020 and 2024
  3. 3Belgian Official Gazette, 12-09-2025

Company details

Identity

Enterprise number
0430.296.552
VAT number
BE 0430.296.552
Legal form
Private limited company
Status
In bankruptcy, since 08-09-2025
Founded
02-01-1987
Financial year
ends on 31 December
Peppol
Not found in the Peppol Directory
Name
THIBELO in French
Entity type
Legal entity

Activities

NACEBEL 2025
Codes under NACEBEL 2008
46494 Wholesale of non-electrical household articles main activity
Codes under NACEBEL 2003
51441 main activity

Registered office and establishments

1 establishment
Establishment Since Unit number
Haie des Chênes 12FF1 registered office 4140 Sprimont
Rue du Têris 21 4100 Seraing 68203 Renting and operating of own or leased non-residential real estate, excluding land 30-01-1987 2.031.079.040

Buildings and parcels at the addresses

Ground area
9,337 m²
Buildings
1,484 m²
Volume, LiDAR
7,299 m³
Tallest building
6.1 m
Buildings to scale, each on its own parcel
1,194 m², 6.1 m 291 m², 5.9 m 1,194 m², 6.1 m 291 m², 5.9 m

Location

registered office establishment The establishment unit on the map

Parcels

Cadastral parcelArea Buildings Height / floors
62028C0785/00P0006,110 m² 1 · 291 m² 5.9 m · 1
62353D0354/00K0023,227 m² 1 · 1,194 m² 6.1 m · 2