THIMAX
ActiveTHIMAX has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €172k and a net result of €6k. Equity remains stable across the filed fiscal years (±1% per year). Its solvency ranks better than 61% of 19357 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
69
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability31▲+8
Solvency70=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days acceptable
Liquidity short (current ratio 0.72 against 0.67 in 2023; short-term debt: 55.3% and cash: 38.3% of total assets), and 55.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 10-09-2025, 41 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
41 d late
2023
58 d late
2022
46 d late
2021
51 d late
2020
61 d late
2019
62 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€172k▲ 3.5%
2023 · €167k
2018: €162k
2019: €162k
2020: €165k
2021: €163k
2022: €170k
2023: €167k
2018 → 2024
Total assets
€386k▲ 5.1%
2023 · €367k
2018: €341k
2019: €348k
2020: €361k
2021: €365k
2022: €370k
2023: €367k
2018 → 2024
Net result
€6k
2023 · €-4k
2018: €2k
2019: €-624
2020: €4k
2021: €-2k
2022: €7k
2023: €-4k
2018 → 2024
Working capital
€-61k▲ 9.3%
2023 · €-67k
2018: €-70k
2019: €-71k
2020: €-67k
2021: €-71k
2022: €-64k
2023: €-67k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€165k-€163k▼ 1.4%€170k▲ 4.5%€167k▼ 2.2%€172k▲ 3.5%
Operating result€10k-€5k▼ 48.9%€16k▲ 201%€6k▼ 64.1%€17k▲ 192%
Net result€4k-€-2k€7k€-4k€6k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 192% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €386k
Fixed assets
€233k▼ 0.2%
Current assets
€153k▲ 14.2%
Equity and liabilities €386k
Equity
€172k▲ 3.5%
Debt
€214k▲ 6.4%
The debt ratio rises from 54.7% to 55.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€17k▲
2023 · €6k
Cash flow
€6k▲
2023 · €-3k
Solvency
44.7%▼
2023 · 45.3%
Current ratio
0.72▲
2023 · 0.67
Quick ratio
0.72▲
2023 · 0.67
Debt / equity
1.24▲
2023 · 1.21
ROE
3.4%▲
2023 · -2.2%
ROA
1.5%▲
2023 · -1.0%
Interest coverage
1.28▲
2023 · 0.63
Debt
€214k▲
2023 · €201k
Debt ≤ 1 year
€214k▲
2023 · €201k
Income taxes
€397▲
2023 · €135
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€367k€386k▲
Fixed assets21/28€233k€233k▼
Tangible fixed assets22/27€233k€233k▼
Land and buildings22€233k€232k▼
Plant, machinery and equipment23-€820
Current assets29/58€134k€153k▲
Amounts receivable within one year40/41€2k€5k▲
Trade receivables40€2k€4k▲
Other amounts receivable41-€1k
Cash at bank and in hand54/58€132k€148k▲
Equity and liabilities
Total equity and liabilities10/49€367k€386k▲
Equity10/15€167k€172k▲
Contributions10/11€78k€78k=
Outside capital11€78k€78k=
Share premium1100/10€78k€78k=
Reserves13€89k€95k▲
Distributable reserves133€89k€95k▲
Amounts payable17/49€201k€214k▲
Amounts payable within one year42/48€201k€214k▲
Trade debts44€2k€2k▲
Suppliers440/4€2k€2k▲
Taxes, remuneration and social security45€4k€5k▲
Taxes450/3€4k€5k▲
Other amounts payable47/48€195k€206k▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€410€410=
Other operating charges640/8€6k€6k▲
Gross operating margin9900€12k€23k▲
Operating profit (loss)9901€6k€17k▲
Financial income75/76B€451€3k▲
Recurring financial income75€451€3k▲
Financial charges65/66B€10k€13k▲
Recurring financial charges65€10k€13k▲
Profit (loss) for the period before taxes9903€-4k€6k▲
Income taxes67/77€135€397▲
Profit (loss) for the period9904€-4k€6k▲
Profit (loss) for the period to be appropriated9905€-4k€6k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-4k€6k▲
Transfer from equity791/2€4k-
Transfer to equity691/2-€6k
To other reserves6921-€6k
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
10-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 41 days late
2024
31-12
Financial
Back to profitnet €6k
Net result €6k after one loss-making year.
27-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 58 days late
2023
31-12
Financial
Weakest financial yearnet €-4k ▼151%
Net result drops to €-4k, the lowest in the series; recovery starts the following year.
15-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 46 days late
2022
31-12
Financial
Back to profitnet €7k
Net result €7k after one loss-making year.
20-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 51 days late
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 61 days late
2020
31-12
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
01-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 62 days late
2019
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 26 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 23 days late
2016
24-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 24 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Torhout · 1 establishment unit since 1995
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.
Beckhofstraat 478820 TorhoutGround area
798 m²
Building footprint
175 m²
Volume, LiDAR
892 m³
Parcel 31523F0016/00L000, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
THIMAX
since 19952.036.925.863
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31523F0016/00L000 | Flanders | 798 m² | 1 · 175 m² | 8.0 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.
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HEYLEN PROJECTS
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Of 12,023 companies in sector 68203 we hold annual accounts for 5,986. 4,185 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded21-04-1986
Fiscal year end31-12
Activities, NACEBEL
68203Renting and operating of own or leased non-residential real estate, excluding land
Sources
Crossroads Bank for EnterprisesNational Bank · 39 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.