THIBER

Open bankruptcy

Public limited companyfounded 1990Marie-Joséplein 4, 8400 Oostende, BelgiumKBO/BCE: BE 0440.135.223

THIBEROpen bankruptcy

Report

Financials · financial year 2024, abbreviated format

2024 annual accounts filed 106 days after the deadline Filed on 14 November 2025, deadline 31 July 2025 (7 months after the close on 31 December 2024, Companies Code art. 3:10). Source: NBB, 2025-00568348.

Annual accounts 2024 filed on 14-11-2025 PDF all 35 filings

Turnover

≈ €1.1m

Estimated: probably between €770,000 and €1.8m

Total assets

€671,233▲ 5.9%

2023 · €633,891

Net result

€34,874▼ 42.6%

2023 · €60,752

Working capital

€356,593▲ 12.3%

2023 · €317,672

Multi-year overview

2018 to 2024, 7 financial years

Operating result

€68,206

▼ 29.7% 2024

20182024

Net result

€34,874

▼ 42.6% 2024

middle half of the sector

20182024

Equity

€389,490

▲ 9.8% 2024

middle half of the sector

20182024

Total assets

€671,233

▲ 5.9% 2024

middle half of the sector

20182024

Debt

€281,743

▲ 0.9% 2024

20182024

Working capital

€356,593

▲ 12.3% 2024

middle half of the sector

20182024

Solvency

58.0%

▲ 2.1pp 2024

middle half of the sector

20182024

Current ratio

2.27

▲ 0.13 2024

middle half of the sector

20182024

Return on assets (ROA)

5.2%

▼ 4.4pp 2024

middle half of the sector

20182024

Staff (FTE)

▲ 12.2% 2024

highest quarter of the sector

20182024

Every figure per financial year

Every figure with its change against the financial year before

favourable unfavourable

Line2018201920202021202220232024

Operating result€367,553--€84,115-€80,070▲ 4.8%€23,299€15,394▼ 33.9%€96,970▲ 530%€68,206▼ 29.7%

Net result€350,295--€88,790-€82,383▲ 7.2%€15,216€1,077▼ 92.9%€60,752▲ 56×€34,874▼ 42.6%

Equity€450,344-€361,554▼ 19.7%€279,171▼ 22.8%€294,386▲ 5.5%€293,863▼ 0.2%€354,616▲ 20.7%€389,490▲ 9.8%

Total assets€643,724-€573,192▼ 11.0%€593,443▲ 3.5%€534,238▼ 10.0%€504,655▼ 5.5%€633,891▲ 25.6%€671,233▲ 5.9%

Debt€193,380-€211,638▲ 9.4%€314,272▲ 48.5%€239,852▼ 23.7%€210,792▼ 12.1%€279,275▲ 32.5%€281,743▲ 0.9%

Working capital€481,731-€321,586▼ 33.2%€229,900▼ 28.5%€283,380▲ 23.3%€255,765▼ 9.7%€317,672▲ 24.2%€356,593▲ 12.3%

Solvency70.0%-63.1%▼ 6.9pp47.0%▼ 16.0pp55.1%▲ 8.1pp58.2%▲ 3.1pp55.9%▼ 2.3pp58.0%▲ 2.1pp

Current ratio4.17-2.65▼ 1.521.73▼ 0.922.35▲ 0.622.21▼ 0.142.14▼ 0.082.27▲ 0.13

Return on assets (ROA)54.4%--15.5%▼ 69.9pp-13.9%▲ 1.6pp2.8%▲ 16.7pp0.2%▼ 2.6pp9.6%▲ 9.4pp5.2%▼ 4.4pp

Staff (FTE)10.9-10.4▼ 4.6%6.5▼ 37.5%6.2▼ 4.6%9.811▲ 12.2%

above within below The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.

The operating result for 2024 is 30% lower than in 2023.

Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €671,233

95.1%

Fixed assets €32,897 ▼ 11.1%

Current assets €638,336 ▲ 6.9%

Equity and liabilities €671,233

58.0%

42.0%

Equity €389,490 ▲ 9.8%

Debt €281,743 ▲ 0.9%

Debt's share of the balance-sheet total falls from 44.1% to 42.0%. Equity and debt are higher.

Key figures and ratios

2024 value · change against 2023

EBITDA

€74,993▼

2023 · €103,275

Cash flow

€41,661▼

2023 · €67,058

Quick ratio

1.83▲

2023 · 1.71

Debt to equity

0.72▼

2023 · 0.79

ROE

9.0%▼

2023 · 17.1%

Interest coverage

3.30▼

2023 · 6.68

Debt ≤ 1 year

€281,743▲

2023 · €279,194

Income taxes

€21,191▼

2023 · €29,483

Staff costs

€143,680▲

2023 · €142,822

Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet

Item	31-12-2021	31-12-2023	31-12-2024
Employees at the balance-sheet date	6	5	2
full-time	5	3	0
part-time	1	2	2
in full-time equivalents	5.6	4.4	1.4
Average over the year, in full-time equivalents	6.2	9.8	11
On a permanent contract	5	5	2
Joined	18	16	15
Left	17	14	18
Training hours	-	-	0

Source: social balance sheet in the 2021 to 2024 annual accounts

Investments

fixed assets acquired

Item	2021	2022	2023	2024
Tangible fixed assets	-	€3,126	€3,000	€5,319
Financial fixed assets	-	-	€2,240	-
Depreciation and write-downs of the year	€8,264	€6,034	€6,305	€6,787

Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)

Subsidies and aid

Flemish government

2023 to 2025 · 3 entries · €8,000 awarded · €8,000 paid

Year	Entries	Awarded	Paid
2025	1	€2,000	€2,000
2024	1	€4,000	€4,000
2023	1	€2,000	€2,000

Schemes

Hinderpremie bij openbare werken

3 entries · €8,000 · €8,000 paid · Fonds voor Innoveren en Ondernemen

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Last 5 years All years

Filed annual accounts As filed with the NBB · 2024 against 2023 · 58 lines

Balance sheet Code20232024

Assets

Total assets20/58€633,891€671,233▲

Fixed assets21/28€37,024€32,897▼

Tangible fixed assets22/27€34,784€30,657▼

Land and buildings22€2,812€2,500▼

Plant, machinery and equipment23€28,348€22,635▼

Furniture and vehicles24€3,624€2,915▼

Other tangible fixed assets26-€2,608

Financial fixed assets28€2,240€2,240=

Current assets29/58€596,866€638,336▲

Amounts receivable after more than one year29€256,970€256,970=

Other amounts receivable291€256,970€256,970=

Stocks and contracts in progress3€120,265€122,018▲

Stocks30/36€120,265€122,018▲

Amounts receivable within one year40/41€148,274€226,063▲

Trade receivables40€35,854€76,938▲

Other amounts receivable41€112,420€149,125▲

Cash at bank and in hand54/58€70,090€31,766▼

Deferred charges and accrued income490/1€1,267€1,519▲

Equity and liabilities

Total equity and liabilities10/49€633,891€671,233▲

Equity10/15€354,616€389,490▲

Contributions10/11€218,200€218,200=

Capital10€218,200€218,200=

Issued capital100€218,200€218,200=

Reserves13€136,416€171,290▲

Non-distributable reserves130/1€21,820€21,820=

Legal reserve130€21,820€21,820=

Distributable reserves133€114,596€149,470▲

Profit (loss) carried forward14€0-

Amounts payable17/49€279,275€281,743▲

Amounts payable within one year42/48€279,194€281,743▲

Current portion of amounts payable after more than one year42€0-

Trade debts44€209,636€167,171▼

Suppliers440/4€209,636€167,171▼

Taxes, remuneration and social security45€64,102€109,646▲

Taxes450/3€45,374€68,407▲

Remuneration and social security454/9€18,728€41,239▲

Other amounts payable47/48€5,457€4,926▼

Accrued charges and deferred income492/3€80€0▼

Income statement Code20232024

Remuneration, social security and pensions62€142,822€143,680▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6,305€6,787▲

Other operating charges640/8€13,897€46,157▲

Gross operating margin9900€259,993€264,830▲

Operating profit (loss)9901€96,970€68,206▼

Financial income75/76B€8,721€10,578▲

Recurring financial income75€8,721€10,578▲

Financial charges65/66B€15,456€22,719▲

Recurring financial charges65€15,456€22,719▲

Profit (loss) for the period before taxes9903€90,235€56,065▼

Income taxes67/77€29,483€21,191▼

Profit (loss) for the period9904€60,752€34,874▼

Profit (loss) for the period to be appropriated9905€60,752€34,874▼

Appropriation of the result

Profit (loss) to be appropriated9906€113,519€34,874▼

Profit (loss) brought forward from the previous period14P€52,766€0▼

Transfer to equity691/2€113,519€34,874▼

To other reserves6921€113,519€34,874▼

Profit to be distributed694/7€0-

Return on contributions (dividend)694€0-

Social balance sheet

Average headcount (FTE)9087-11.0

The notes to these accounts have 16 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 14-11-2025.

Line	2018	2019	2020	2021	2022	2023	2024	Change
Remuneration, social security and pensions62	-	-	-	€53,370	€93,285	€142,822	€143,680	▲ 0.6%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€4,183	€9,558	€8,590	€8,264	€6,034	€6,305	€6,787	▲ 7.6%
Other operating charges640/8	-	-	-	€9,932	€19,049	€13,897	€46,157	▲ 232%
Gross operating margin9900	€592,732	€76,233	€17,077	€94,866	€133,761	€259,993	€264,830	▲ 1.9%
Operating profit (loss)9901	€367,553	-€84,115	-€80,070	€23,299	€15,394	€96,970	€68,206	▼ 29.7%
Financial income75/76B	-	-	-	€7,547	€9,506	€8,721	€10,578	▲ 21.3%
Recurring financial income75	€11,985	€10,272	€10,154	€7,547	€9,506	€8,721	€10,578	▲ 21.3%
Financial charges65/66B	-	-	-	€15,744	€18,135	€15,456	€22,719	▲ 47.0%
Recurring financial charges65	€29,120	€14,826	€12,351	€15,744	€18,135	€15,456	€22,719	▲ 47.0%
Profit (loss) for the period before taxes9903	€350,418	-€88,669	-€82,267	€15,102	€6,764	€90,235	€56,065	▼ 37.9%
Income taxes67/77	€123	€121	€116	-€114	€5,687	€29,483	€21,191	▼ 28.1%
Profit (loss) for the period9904	€350,295	-€88,790	-€82,383	€15,216	€1,077	€60,752	€34,874	▼ 42.6%
Profit (loss) for the period to be appropriated9905	€350,295	-€88,790	-€82,383	€15,216	€1,077	€60,752	€34,874	▼ 42.6%

Line	2018	2019	2020	2021	2022	2023	2024	Change
Assets
Total assets20/58	€643,724	€573,192	€593,443	€534,238	€504,655	€633,891	€671,233	▲ 5.9%
Fixed assets21/28	€9,881	€56,768	€49,271	€41,007	€38,099	€37,024	€32,897	▼ 11.1%
Tangible fixed assets22/27	€9,872	€56,759	€49,262	€40,998	€38,090	€34,784	€30,657	▼ 11.9%
Land and buildings22	-	-	-	-	€3,125	€2,812	€2,500	▼ 11.1%
Plant, machinery and equipment23	-	-	-	€40,065	€34,141	€28,348	€22,635	▼ 20.2%
Furniture and vehicles24	-	-	-	€933	€824	€3,624	€2,915	▼ 19.6%
Other tangible fixed assets26	-	-	-	-	-	-	€2,608	-
Financial fixed assets28	€9	€9	€9	€9	€9	€2,240	€2,240	=
Current assets29/58	€633,843	€516,424	€544,172	€493,232	€466,556	€596,866	€638,336	▲ 6.9%
Amounts receivable after more than one year29	-	-	-	€304,192	€256,970	€256,970	€256,970	=
Other amounts receivable291	-	-	-	€304,192	€256,970	€256,970	€256,970	=
Stocks and contracts in progress3	€109,862	€109,911	€94,852	€79,147	€83,531	€120,265	€122,018	▲ 1.5%
Stocks30/36	-	-	-	€79,147	€83,531	€120,265	€122,018	▲ 1.5%
Amounts receivable within one year40/41	€234,099	€142,977	€220,789	€62,942	€47,178	€148,274	€226,063	▲ 52.5%
Trade receivables40	-	-	-	€48,878	€13,902	€35,854	€76,938	▲ 115%
Other amounts receivable41	-	-	-	€14,064	€33,276	€112,420	€149,125	▲ 32.7%
Cash at bank and in hand54/58	€79,909	€54,401	€19,395	€46,951	€78,877	€70,090	€31,766	▼ 54.7%
Deferred charges and accrued income490/1	-	-	-	-	-	€1,267	€1,519	▲ 19.9%
Equity and liabilities
Total equity and liabilities10/49	€643,724	€573,192	€593,443	€534,238	€504,655	€633,891	€671,233	▲ 5.9%
Equity10/15	€450,344	€361,554	€279,171	€294,386	€293,863	€354,616	€389,490	▲ 9.8%
Contributions10/11	€218,200	€218,200	€218,200	€218,200	€218,200	€218,200	€218,200	=
Capital10	-	-	-	€218,200	€218,200	€218,200	€218,200	=
Issued capital100	-	-	-	€218,200	€218,200	€218,200	€218,200	=
Reserves13	€21,820	€21,820	€21,820	€21,820	€22,897	€136,416	€171,290	▲ 25.6%
Non-distributable reserves130/1	-	-	-	€21,820	€21,820	€21,820	€21,820	=
Legal reserve130	-	-	-	€21,820	€21,820	€21,820	€21,820	=
Distributable reserves133	-	-	-	-	€1,077	€114,596	€149,470	▲ 30.4%
Profit (loss) carried forward14	€210,324	€121,534	€39,151	€54,366	€52,766	€0	-	-
Amounts payable17/49	€193,380	€211,638	€314,272	€239,852	€210,792	€279,275	€281,743	▲ 0.9%
Amounts payable after more than one year17	€29,254	-	-	€30,000	€0	-	-	-
Financial debts170/4	-	-	-	€30,000	€0	-	-	-
Amounts payable within one year42/48	€152,112	€194,838	€314,272	€209,852	€210,792	€279,194	€281,743	▲ 0.9%
Current portion of amounts payable after more than one year42	-	-	-	€18,287	€20,177	€0	-	-
Trade debts44	€77,003	€112,885	€239,572	€167,013	€162,106	€209,636	€167,171	▼ 20.3%
Suppliers440/4	-	-	-	€167,013	€162,106	€209,636	€167,171	▼ 20.3%
Taxes, remuneration and social security45	-	-	-	€20,695	€23,051	€64,102	€109,646	▲ 71.1%
Taxes450/3	-	-	-	€3,201	€21,521	€45,374	€68,407	▲ 50.8%
Remuneration and social security454/9	-	-	-	€17,494	€1,530	€18,728	€41,239	▲ 120%
Other amounts payable47/48	-	-	-	€3,857	€5,457	€5,457	€4,926	▼ 9.7%
Accrued charges and deferred income492/3	-	-	-	-	-	€80	€0	▼ 100%

Line	2018	2019	2020	2021	2022	2023	2024	Change
Profit (loss) for the period9904	€350,295	-€88,790	-€82,383	€15,216	€1,077	€60,752	€34,874	▼ 42.6%
+ Depreciation and write-downs630	€4,183	€9,558	€8,590	€8,264	€6,034	€6,305	€6,787	▲ 7.6%
Operating cash flow (approximation)	€354,478	-€79,232	-€73,793	€23,480	€7,111	€67,058	€41,661	▼ 37.9%
Investment in fixed assets (approximation)	-	-€56,445	-€1,093	-€0	-€3,126	-€5,231	-€2,659	▲ 49.2%
Change in cash	-	-€25,508	-€35,006	€27,556	€31,926	-€8,787	-€38,324	▼ 336%

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

Download as CSV

Latest 10 of 35 filings with the National Bank

Financial year	Type	Filed	Reference	Document
31-12-2024	abbreviated format	14-11-2025	2025-00568348	PDF
31-12-2023	micro format	21-11-2024	2024-00602748	PDF
31-12-2022	micro format	30-11-2023	2023-00519093	PDF
31-12-2021	micro format	28-02-2023	2023-00035935	PDF
31-12-2020	micro format	14-01-2022	2022-01000146	PDF
31-12-2019	abbreviated format	30-10-2020	2020-65900445	PDF
31-12-2018	abbreviated format	12-11-2019	2019-73500415	PDF
31-12-2017	abbreviated format	19-10-2018	2018-69600369	PDF
31-12-2016	abbreviated format	20-07-2017	2017-33700484	PDF
31-12-2015	abbreviated format	27-07-2016	2016-35900022	PDF

Show all 35 filings