THIONE
ActiveSummary
THIONE has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.10M and a net result of €-59k. Equity is shrinking by ~6.6% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability14▲+6
Solvency96▼-1
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days acceptable
Liquidity tight (current ratio 1.16 against 1.23 in 2024; short-term debt: 28.5% and cash: 0.2% of total assets), and 28.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Seven 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
71.2%
Return on assets
-3.8%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-59k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 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
27 d late
2024
30 d late
2023
28 d late
2022
27 d late
2021
20 d early
2020
11 d early
2019
88 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-59k▲ 56.2%
2024 · €-135k
2018: €-75k
2019: €-49k▲ +34.8% vs 2018
2020: €-54k▼ -10.7% vs 2019
2021: €-198k▼ -265% vs 2020lowest in 8 years
2022: €-24k▲ +88.0% vs 2021highest in 8 years
2023: €-83k▼ -248% vs 2022
2024: €-135k▼ -62.8% vs 2023
2025: €-59k▲ +56.2% vs 2024
2018 → 2025
Working capital
€72k▼ 28.9%
2024 · €101k
2018: €424khighest in 8 years
2019: €413k▼ -2.6% vs 2018
2020: €391k▼ -5.4% vs 2019
2021: €231k▼ -40.9% vs 2020
2022: €246k▲ +6.3% vs 2021
2023: €198k▼ -19.3% vs 2022
2024: €101k▼ -49.1% vs 2023
2025: €72k▼ -28.9% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.40M-€1.37M▼ 1.7%€1.29M▼ 6.0%€1.16M▼ 10.4%€1.10M▼ 5.1%
2021: €1.40Mhighest in 5 years
2022: €1.37M▼ -1.7% vs 2021
2023: €1.29M▼ -6.0% vs 2022
2024: €1.16M▼ -10.4% vs 2023
2025: €1.10M▼ -5.1% vs 2024lowest in 5 years
Operating result€-196k-€-22k▲ 88.7%€-81k▼ 267%€-134k▼ 64.6%€-58k▲ 56.4%
2021: €-196klowest in 5 years
2022: €-22k▲ +88.7% vs 2021highest in 5 years
2023: €-81k▼ -267% vs 2022
2024: €-134k▼ -64.6% vs 2023
2025: €-58k▲ +56.4% vs 2024
Net result€-198k-€-24k▲ 88.0%€-83k▼ 248%€-135k▼ 62.8%€-59k▲ 56.2%
2021: €-198klowest in 5 years
2022: €-24k▲ +88.0% vs 2021highest in 5 years
2023: €-83k▼ -248% vs 2022
2024: €-135k▼ -62.8% vs 2023
2025: €-59k▲ +56.2% vs 2024
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €58k in 2025 against €134k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.54M
Fixed assets
€1.03M ▼ 3.5%
Current assets
€512k ▼ 3.5%
Equity and liabilities €1.54M
Equity
€1.10M ▼ 5.1%
Debt
€444k ▲ 0.8%
Debt's share of the balance-sheet total rises from 27.6% to 28.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-21k▲
2024 · €-97k
Cash flow
€-22k▲
2024 · €-98k
Current ratio
1.16▼
2024 · 1.23
Debt to equity
0.40▲
2024 · 0.38
ROE
-5.4%▲
2024 · -11.7%
ROA
-3.8%▲
2024 · -8.4%
Interest coverage
-27.85▲
2024 · -79.77
Debt ≤ 1 year
€440k▲
2024 · €430k
Staff costs
€79k▲
2024 · €77k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 38 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.60M€1.54M▼
Fixed assets21/28€1.07M€1.03M▼
Tangible fixed assets22/27€1.07M€1.03M▼
Land and buildings22€1.07M€1.03M▼
Current assets29/58€531k€512k▼
Amounts receivable within one year40/41€521k€504k▼
Other amounts receivable41€521k€504k▼
Cash at bank and in hand54/58€5k€4k▼
Deferred charges and accrued income490/1€5k€4k▼
Equity and liabilities
Total equity and liabilities10/49€1.60M€1.54M▼
Equity10/15€1.16M€1.10M▼
Contributions10/11€2.06M€2.06M=
Capital10€2.06M€2.06M=
Issued capital100€2.06M€2.06M=
Reserves13€6k€6k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Profit (loss) carried forward14€-911k€-970k▼
Amounts payable17/49€441k€444k▲
Amounts payable within one year42/48€430k€440k▲
Trade debts44€14k€16k▲
Suppliers440/4€14k€16k▲
Other amounts payable47/48€415k€424k▲
Accrued charges and deferred income492/3€11k€4k▼
Income statement
Code20242025
Remuneration, social security and pensions62€77k€79k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€37k€37k=
Other operating charges640/8€24k€29k▲
Gross operating margin9900€4k€86k▲
Operating profit (loss)9901€-134k€-58k▲
Financial income75/76B€13€13=
Recurring financial income75€13€13=
Financial charges65/66B€1k€769▼
Recurring financial charges65€1k€769▼
Profit (loss) for the period before taxes9903€-135k€-59k▲
Profit (loss) for the period9904€-135k€-59k▲
Profit (loss) for the period to be appropriated9905€-135k€-59k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-911k€-970k▼
Profit (loss) brought forward from the previous period14P€-776k€-911k▼
The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €90k | €74k | €76k | €77k | €79k | ▲ 2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37k | €37k | €37k | €37k | €37k | = |
| Other operating charges640/8 | €21k | €27k | €25k | €24k | €29k | ▲ 20.2% |
| Gross operating margin9900 | €-48k | €116k | €57k | €4k | €86k | ▲ 2,012% |
| Operating profit (loss)9901 | €-196k | €-22k | €-81k | €-134k | €-58k | ▲ 56.4% |
| Financial income75/76B | - | - | - | €13 | €13 | = |
| Recurring financial income75 | - | - | - | €13 | €13 | = |
| Financial charges65/66B | €2k | €2k | €2k | €1k | €769 | ▼ 36.6% |
| Recurring financial charges65 | €2k | €2k | €2k | €1k | €769 | ▼ 36.6% |
| Profit (loss) for the period before taxes9903 | €-198k | €-24k | €-83k | €-135k | €-59k | ▲ 56.2% |
| Profit (loss) for the period9904 | €-198k | €-24k | €-83k | €-135k | €-59k | ▲ 56.2% |
| Profit (loss) for the period to be appropriated9905 | €-198k | €-24k | €-83k | €-135k | €-59k | ▲ 56.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.80M | €1.79M | €1.71M | €1.60M | €1.54M | ▼ 3.5% |
| Fixed assets21/28 | €1.18M | €1.14M | €1.10M | €1.07M | €1.03M | ▼ 3.5% |
| Tangible fixed assets22/27 | €1.18M | €1.14M | €1.10M | €1.07M | €1.03M | ▼ 3.5% |
| Land and buildings22 | €1.18M | €1.14M | €1.10M | €1.07M | €1.03M | ▼ 3.5% |
| Current assets29/58 | €624k | €648k | €610k | €531k | €512k | ▼ 3.5% |
| Amounts receivable within one year40/41 | €615k | €634k | €596k | €521k | €504k | ▼ 3.3% |
| Other amounts receivable41 | €615k | €634k | €596k | €521k | €504k | ▼ 3.3% |
| Cash at bank and in hand54/58 | €4k | €6k | €7k | €5k | €4k | ▼ 24.1% |
| Deferred charges and accrued income490/1 | €5k | €8k | €8k | €5k | €4k | ▼ 10.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.80M | €1.79M | €1.71M | €1.60M | €1.54M | ▼ 3.5% |
| Equity10/15 | €1.40M | €1.37M | €1.29M | €1.16M | €1.10M | ▼ 5.1% |
| Contributions10/11 | €2.06M | €2.06M | €2.06M | €2.06M | €2.06M | = |
| Capital10 | €2.06M | €2.06M | €2.06M | €2.06M | €2.06M | = |
| Issued capital100 | €2.06M | €2.06M | €2.06M | €2.06M | €2.06M | = |
| Reserves13 | €6k | €6k | €6k | €6k | €6k | = |
| Non-distributable reserves130/1 | €6k | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | €6k | €6k | €6k | €6k | €6k | = |
| Profit (loss) carried forward14 | €-670k | €-693k | €-776k | €-911k | €-970k | ▼ 6.5% |
| Amounts payable17/49 | €403k | €414k | €423k | €441k | €444k | ▲ 0.8% |
| Amounts payable within one year42/48 | €393k | €402k | €412k | €430k | €440k | ▲ 2.5% |
| Trade debts44 | €5k | €5k | €6k | €14k | €16k | ▲ 11.1% |
| Suppliers440/4 | €5k | €5k | €6k | €14k | €16k | ▲ 11.1% |
| Other amounts payable47/48 | €388k | €397k | €407k | €415k | €424k | ▲ 2.2% |
| Accrued charges and deferred income492/3 | €11k | €12k | €11k | €11k | €4k | ▼ 62.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-198k | €-24k | €-83k | €-135k | €-59k | ▲ 56.2% |
| + Depreciation and write-downs630 | €37k | €37k | €37k | €37k | €37k | = |
| Operating cash flow (approximation) | €-161k | €13k | €-46k | €-98k | €-22k | ▲ 77.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €2k | €606 | €-2k | €-1k | ▲ 46.9% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 27 days late
2025
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
27-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 27 days late
2022
11-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €-198k
Net result drops to €-198k, the lowest in the series; recovery starts the following year.
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
27-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 88 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 29 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 28 days late
2017
04-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Brussel · 1 establishment unit since 1994
Ground area
696 m²
Building footprint
619 m²
Volume, LiDAR
11,714 m³
Parcel 21822R0227/00X002, Brussels · tallest building 30.8 m, ±9 floors. Linked by address, not a title deed.
65
companies at this address
See who is registered here
1 establishment unit
THIONE SA
since 19942.065.743.177
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21822R0227/00X002 | Brussels | 696 m² | 1 · 619 m² | 30.8 m · 9 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
Founded30-11-1993
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.