THILI
ActiveSummary
THILI has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €200,017 and a net result of €90,904. Equity is growing by ~18% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability87▲+13
Solvency56▲+14
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days acceptable
Liquidity short (current ratio 0.23 against 0.09 in 2024; short-term debt: 68.5% and cash: 14.1% of total assets), and 68.5% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
31.5%
Return on assets
14.3%
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 15-07-2026, 16 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
16 d early
2024
29 d early
2023
11 d early
2022
30 d early
2021
31 d early
2020
11 d late
2019
28 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 11 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€200,017▲ 83.3%
2024 · €109,113
Total assets
€635,318▼ 0.2%
2024 · €636,647
Net result
€90,904▲ 262%
2024 · €25,136
Working capital
-€335,355▲ 30.2%
2024 · -€480,499
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€27,741▲ 35.9%€30,935▲ 11.5%-€36,034€25,180€122,216▲ 385%
Net result€16,896▲ 54.5%€19,435▲ 15.0%-€36,488€25,136€90,904▲ 262%
Equity€101,030▲ 20.1%€120,465▲ 19.2%€83,977▼ 30.3%€109,113▲ 29.9%€200,017▲ 83.3%
Total assets€179,801▼ 31.4%€156,792▼ 12.8%€683,350▲ 336%€636,647▼ 6.8%€635,318▼ 0.2%
Debt€78,772▼ 55.7%€36,327▼ 53.9%€599,373▲ 1,550%€527,534▼ 12.0%€435,301▼ 17.5%
Working capital-€56,605▲ 33.1%-€11,469▲ 79.7%-€559,876▼ 4,782%-€480,499▲ 14.2%-€335,355▲ 30.2%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 385% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €635,318
Fixed assets
€535,372 ▼ 9.2%
Current assets
€99,946 ▲ 112%
Equity and liabilities €635,318
Equity
€200,017 ▲ 83.3%
Debt
€435,301 ▼ 17.5%
Debt's share of the balance-sheet total falls from 82.9% to 68.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€176,456▲
2024 · €79,420
Cash flow
€145,144▲
2024 · €79,377
Current ratio
0.23▲
2024 · 0.09
Debt to equity
2.18▼
2024 · 4.83
ROE
45.4%▲
2024 · 23.0%
ROA
14.3%▲
2024 · 3.9%
Interest coverage
3058.16▲
2024 · 1825.75
Debt ≤ 1 year
€435,301▼
2024 · €527,534
Income taxes
€37,124
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,082 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a higher bankruptcy probability: 0.6% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 20,082 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €44,233 | €44,856 | €43,996 | €54,240 | €54,240 | = |
| Other operating charges640/8 | €3,419 | €3,595 | €7,700 | €8,270 | €8,563 | ▲ 3.5% |
| Non-recurring operating charges66A | - | - | €88,058 | - | - | - |
| Gross operating margin9900 | €75,392 | €79,386 | €103,719 | €87,690 | €185,019 | ▲ 111% |
| Operating profit (loss)9901 | €27,741 | €30,935 | -€36,034 | €25,180 | €122,216 | ▲ 385% |
| Financial income75/76B | €95 | - | - | - | €5,870 | - |
| Recurring financial income75 | €95 | - | - | - | €5,870 | - |
| Financial charges65/66B | €3,069 | €1,774 | €454 | €44 | €58 | ▲ 32.6% |
| Recurring financial charges65 | €3,069 | €1,774 | €454 | €44 | €58 | ▲ 32.6% |
| Profit (loss) for the period before taxes9903 | €24,766 | €29,161 | -€36,488 | €25,136 | €128,028 | ▲ 409% |
| Income taxes67/77 | €7,870 | €9,726 | - | - | €37,124 | - |
| Profit (loss) for the period9904 | €16,896 | €19,435 | -€36,488 | €25,136 | €90,904 | ▲ 262% |
| Profit (loss) for the period to be appropriated9905 | €16,896 | €19,435 | -€36,488 | €25,136 | €90,904 | ▲ 262% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €179,801 | €156,792 | €683,350 | €636,647 | €635,318 | ▼ 0.2% |
| Fixed assets21/28 | €176,790 | €131,934 | €643,853 | €589,612 | €535,372 | ▼ 9.2% |
| Tangible fixed assets22/27 | €176,790 | €131,934 | €643,853 | €589,612 | €535,372 | ▼ 9.2% |
| Land and buildings22 | €120,996 | €83,743 | €643,853 | €589,612 | €535,372 | ▼ 9.2% |
| Other tangible fixed assets26 | €55,794 | €48,191 | - | - | - | - |
| Current assets29/58 | €3,011 | €24,858 | €39,498 | €47,035 | €99,946 | ▲ 112% |
| Amounts receivable within one year40/41 | - | - | €10,000 | €18,000 | €8,000 | ▼ 55.6% |
| Other amounts receivable41 | - | - | €10,000 | €18,000 | €8,000 | ▼ 55.6% |
| Cash at bank and in hand54/58 | €3,011 | €24,858 | €29,498 | €29,035 | €89,615 | ▲ 209% |
| Deferred charges and accrued income490/1 | - | - | - | - | €2,331 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €179,801 | €156,792 | €683,350 | €636,647 | €635,318 | ▼ 0.2% |
| Equity10/15 | €101,030 | €120,465 | €83,977 | €109,113 | €200,017 | ▲ 83.3% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €39,030 | €58,465 | €58,465 | €58,465 | €138,017 | ▲ 136% |
| Non-distributable reserves130/1 | €1,955 | €2,935 | €2,935 | €2,935 | €6,200 | ▲ 111% |
| Legal reserve130 | €1,955 | €2,935 | €2,935 | €2,935 | €6,200 | ▲ 111% |
| Distributable reserves133 | €37,075 | €55,530 | €55,530 | €55,530 | €131,817 | ▲ 137% |
| Profit (loss) carried forward14 | - | - | -€36,488 | -€11,352 | - | - |
| Amounts payable17/49 | €78,772 | €36,327 | €599,373 | €527,534 | €435,301 | ▼ 17.5% |
| Amounts payable after more than one year17 | €19,155 | - | - | - | - | - |
| Financial debts170/4 | €19,155 | - | - | - | - | - |
| Amounts payable within one year42/48 | €59,616 | €36,327 | €599,373 | €527,534 | €435,301 | ▼ 17.5% |
| Current portion of amounts payable after more than one year42 | €27,605 | €19,155 | - | - | - | - |
| Trade debts44 | €1,995 | - | €1,839 | - | €1,643 | - |
| Suppliers440/4 | €1,995 | - | €1,839 | - | €1,643 | - |
| Taxes, remuneration and social security45 | €2,870 | €9,726 | - | - | €9,124 | - |
| Taxes450/3 | €2,870 | €9,726 | - | - | €9,124 | - |
| Other amounts payable47/48 | €27,146 | €7,446 | €597,534 | €527,534 | €424,534 | ▼ 19.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,896 | €19,435 | -€36,488 | €25,136 | €90,904 | ▲ 262% |
| + Depreciation and write-downs630 | €44,233 | €44,856 | €43,996 | €54,240 | €54,240 | = |
| Operating cash flow (approximation) | €61,128 | €64,292 | €7,508 | €79,377 | €145,144 | ▲ 82.9% |
| Investment in fixed assets (approximation) | - | €0 | -€555,915 | €0 | €0 | - |
| Change in cash | - | €21,847 | €4,639 | -€462 | €60,580 | ▲ 13,200% |
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
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €90,904 ▲262%
Operating result €122,216, net result €90,904, both a record.
31-12
Financial
Equity above €200,000Eq €200,017 ▲83.3%
2 profitable years in a row build equity to €200,017.
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
16-02
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2024
31-12
Financial
Back to profitnet €25,136
Net result €25,136 after one loss-making year.
31-12
Financial
Equity above €100,000Eq €109,113 ▲29.9%
Equity rises from €83,977 to €109,113.
20-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€36,488
Net result drops to -€36,488, the lowest in the series; recovery starts the following year.
01-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €100,000Eq €101,030 ▲20.1%
4 profitable years in a row build equity to €101,030.
Show earlier events
11-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 11 days late
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
2019
05-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 5 days late
2018
24-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
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, Gent
Ground area
1,452 m²
Building footprint
277 m²
Volume, LiDAR
1,874 m³
Parcel 44062B0349/00M000, Flanders · tallest building 18.4 m, ±2 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44062B0349/00M000 | Flanders | 1,452 m² | 1 · 277 m² | 18.4 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.
Identification & contact
Identification
Legal formPublic limited company
Founded20-08-2003
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0860152547
Also
9925:BE0860152547
Registered
27-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.