THIO TRACK BELGIUM
ActiveFrom the official registers: KBO 4 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
The computed 12-month bankruptcy probability of THIO TRACK BELGIUM is 6.0% (elevated). The 2025 annual accounts show negative equity (-€7.8m) and a net result of -€2.0m. Equity has been shrinking by about 43% per year since 2022. Its solvency ranks better than 5% of 378 sector peers (NACE 42, financial year 2025). The company has been active since 2021 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Official details
KBO- Status
- Active since 18-06-2021 Normal situation
- Legal form
- Public limited company
- Registered office
- Parc Communal de Baudour(B) Zone E, 7331 Saint-Ghislain
- Activity
- Civil engineering NACE 42120and 1 other
- Establishment unit
- 2.318.830.926 7331 Saint-Ghislain, since 18-06-2021
- Financial year end
- 31 December
- Peppol
- Reachable since 05-02-2026
Board and ownership
Board
- Consulting PB SRLDirector · since 11-06-2021
- De Bonte New Generation SRLDirector · since 11-06-2021
- Smartech-DBF SRLDirector · since 11-06-2021
Shareholders
Financial position
- Bankruptcy probabilitywithin 12 months
- 6.0%
Annual accounts 2025
- Gross margin
- -€664,912
- ▲ 12.9%
- Loss
- €2.0m
- ▼ 17.5%
- Equity
- -€7.8m
- ▼ 33.9%
- Total assets
- €4.4m
- ▼ 12.6%
- Staff
- 2.4 FTE
- ▼ 73.6%
2025 accounts filed 76 days after the deadline
Filed on 15-10-2026at the National Bank
Score breakdownraises riskLiquidity: current ratio 0.11Last filed accounts filed 76 days late; 3 of the last 3 accounts lateNegative equity -€7.8mlowers riskFounded in 2021Show the evidence
Checked score
Score 2025
33
/ 100
Weak
Probability in this band: 4.2% to 15.0%
Financially stronger than 6% of micro companies in civil engineering (NACE 42)
Financial strength · tick: 2024
Weak
Solvency
0=
equity -178.1% of total assets
Liquidity
0=
short-term debt 278.1%
Profitability
0=
return on assets -45.1%
Bankruptcy probability within 12 months
6.0%
Elevated
0%0.5%1.5%4%10%≥ 25%
About 6 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 6.6%
12-2024: 6.6%● unchanged vs 11-2024
01-2025: 6.6%● unchanged vs 12-2024
02-2025: 6.3%▼ -0.3 percentage points vs 01-2025
03-2025: 6.2%▼ -0.1 percentage points vs 02-2025
04-2025: 6.1%▼ -0.1 percentage points vs 03-2025
05-2025: 6.1%● unchanged vs 04-2025
06-2025: 6.2%▲ +0.1 percentage points vs 05-2025
07-2025: 6.2%● unchanged vs 06-2025
08-2025: 7.2%▲ +1.0 percentage point vs 07-2025
09-2025: 7.5%▲ +0.3 percentage points vs 08-2025
10-2025: 9.1%▲ +1.6 percentage points vs 09-2025highest value
11-2025: 7.2%▼ -1.9 percentage points vs 10-2025
12-2025: 7.3%▲ +0.1 percentage points vs 11-2025
01-2026: 7.3%● unchanged vs 12-2025
02-2026: 7.3%● unchanged vs 01-2026
03-2026: 7.1%▼ -0.2 percentage points vs 02-2026
04-2026: 7.1%● unchanged vs 03-2026
05-2026: 6.9%▼ -0.2 percentage points vs 04-2026
06-2026: 7.0%▲ +0.1 percentage points vs 05-2026
07-2026: 7.0%● unchanged vs 06-2026
08-2026: 8.0%▲ +1.0 percentage point vs 07-2026
09-2026: 8.3%▲ +0.3 percentage points vs 08-2026
10-2026: 6.0%▼ -2.3 percentage points vs 09-2026lowest value
No credit on open account
Liquidity is insufficient, with a current ratio of 0.11 (0.13 in 2024), below 1. Short-term debt is 278.1% of total assets. Equity is negative.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 42, micro). It does better than 3% of them on solvency, 0% on liquidity, 5% on profitability and 15% on growth.
The bankruptcy probability was computed on 31-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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Signals
Six signals.
lowers riskraises risk
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
22232425
2022 to 2025 · latest year -€7.8m
raises risk · 2025 accounts filed 76 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-10-2026, 76 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 4 filingsDeviation from the deadline
2025
76 days late
2024
61 days late
2023
68 days late
2022
71 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 69 days after the deadline. In the sector (NACE 42), the median for financial year 2024 was 2 days before the deadline, and 41% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 9 October (4 of the last 4 filed years within 30 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
01-11-2026 today31-12-2026 year end31-07-2027 deadline
Key points
- Risk: Negative equitydebts exceed assets in financial year 2025 -€7.8m View
- Risk: 4 loss-making years in a rowloss in financial year 2025 -€2.0m View
- Caution: Lower solvency than 95% of companies in civil engineeringsector median 40.1% · 378 companies -178.1% View
- Caution: Fewer staff in 2025from 9.1 FTE to 2.4 FTE ▼ 73.6% View
Documents
Annual accounts at the NBB
- Annual accounts 2025filed on 15-10-2026
- Annual accounts 2024filed on 30-09-2025
- Annual accounts 2023filed on 07-10-2024
- Annual accounts 2022filed on 10-10-2023
Acts in the Belgian Official Gazette
All publications in the Belgian Official GazetteArticles and registers
- Coordinated articles of associationnotaries' database
- Entry in the KBO registerKBO Public Search
- Check the withholding obligationwith enterprise number 0769.857.128
Key facts about THIO TRACK BELGIUM
- What is the company number of THIO TRACK BELGIUM?
- The company number of THIO TRACK BELGIUM is 0769.857.128. The VAT number is the same number with BE in front: BE 0769.857.128.
- Where is THIO TRACK BELGIUM based?
- The registered office is at Parc Communal de Baudour(B) Zone E, 7331 Saint-Ghislain.Company details
- What does THIO TRACK BELGIUM do?
- According to the KBO register, the main activity is civil engineering (NACE 42120).
- What is the legal form of THIO TRACK BELGIUM?
- The legal form of THIO TRACK BELGIUM is Public limited company (NV).
- When was THIO TRACK BELGIUM founded?
- THIO TRACK BELGIUM was founded on 18-06-2021.
- Is THIO TRACK BELGIUM still active?
- Yes, THIO TRACK BELGIUM is an active enterprise in the KBO register.
- How many employees does THIO TRACK BELGIUM have?
- THIO TRACK BELGIUM had an average of 2.4 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of THIO TRACK BELGIUM?
- The annual accounts for financial year 2025 state no turnover.
- Is THIO TRACK BELGIUM profitable?
- In financial year 2025, THIO TRACK BELGIUM made a loss of €2.0m.
- Where can I find the annual accounts of THIO TRACK BELGIUM?
- THIO TRACK BELGIUM filed 4 annual accounts with the National Bank of Belgium, the latest for financial year 2025.Annual accounts at the National Bank
- When are the next annual accounts of THIO TRACK BELGIUM due?
- THIO TRACK BELGIUM must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Companies linked to THIO TRACK BELGIUM
Comparable companies
These companies have the same main activity as THIO TRACK BELGIUM: civil engineering (NACE 42120). They are comparable in size and age: total assets between €475,000 and €17m, founded between 1986 and 2024.
| Company | Total assets | Gross margin |
|---|---|---|
| THIO TRACK BELGIUM Saint-Ghislain | €4.4m | -€0.7m |
| SUSTAINABLE RAILWAY Dison | €1.4m | -€0.04m |
| T.T.O. RAIL Pepingen | €0.7m | -€0.005m |
| Sateba Prefarails Soignies | €6.6m | - |
| RAILWAYS CONSTRUCT Mortsel | €0.5m | €0.02m |
| VANORMELINGEN - STAS Heist-op-den-Berg | €16.6m | - |
| ALGEMENE ONDERNEMINGEN E. DE VUYST Zottegem | €9.2m | - |
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