THIPRO
ActiveSummary
The computed 12-month bankruptcy probability of THIPRO is 1.6% (moderate). The 2025 annual accounts show negative equity (-€32,395) and a net result of -€2,009. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 28184 sector peers (fiscal year 2025). The company has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability20▲+1
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.47 against 0.49 in 2024; short-term debt: 214.8% and cash: 99.8% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-114.8%
Return on assets
-7.1%
Age of the figures
9 mo
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
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€32,395
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 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
35 d early
2023
36 d early
2022
6 d early
2021
24 d late
2020
1 d early
2019
34 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 7 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed 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
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€32,395▼ 6.6%
2024 · -€30,386
Total assets
€28,209▼ 1.8%
2024 · €28,721
Net result
-€2,009▲ 3.4%
2024 · -€2,081
Working capital
-€32,395▼ 6.6%
2024 · -€30,386
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€19,591-€37,070▼ 89.2%-€48,731▼ 31.5%-€1,794▲ 96.3%-€1,943▼ 8.3%
Net result-€22,300below the sector's middle half-€38,639below the sector's middle half▼ 73.3%-€48,761below the sector's middle half▼ 26.2%-€2,081below the sector's middle half▲ 95.7%-€2,009below the sector's middle half▲ 3.4%
Equity€59,095within the sector's middle half▼ 27.4%€20,456within the sector's middle half▼ 65.4%-€28,305below the sector's middle half-€30,386below the sector's middle half▼ 7.4%-€32,395below the sector's middle half▼ 6.6%
Total assets€211,479within the sector's middle half▼ 20.2%€118,018within the sector's middle half▼ 44.2%€53,418below the sector's middle half▼ 54.7%€28,721below the sector's middle half▼ 46.2%€28,209below the sector's middle half▼ 1.8%
Debt€152,384▼ 17.0%€97,562▼ 36.0%€81,723▼ 16.2%€59,106▼ 27.7%€60,604▲ 2.5%
Working capital€76,331▼ 29.3%-€13,642-€49,281▼ 261%-€30,386▲ 38.3%-€32,395▼ 6.6%
Solvency27.9%within the sector's middle half▼ 2.8pp17.3%below the sector's middle half▼ 10.6pp-53.0%below the sector's middle half▼ 70.3pp-105.8%below the sector's middle half▼ 52.8pp-114.8%below the sector's middle half▼ 9.0pp
Staff (FTE)1.2▼ 20.0%1▼ 16.7%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1,943 in 2025 against €1,794 in 2024; the loss grows.
Key figures and ratios
Current ratio
0.47▼
2024 · 0.49
Debt to equity
-1.87▲
2024 · -1.95
ROA
-7.1%▲
2024 · -7.2%
Debt ≤ 1 year
€60,604▲
2024 · €59,106
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,338 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 90% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a small loss
2.5%
went bankrupt
5.6%
stopped otherwise
90%
still going
A further 1.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.6% over twelve months; the group does not contradict it.
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 2,338 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €826 | - | €9,940 | - | - |
| Remuneration, social security and pensions62 | €54,828 | €55,756 | €10,387 | €146 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,500 | €12,863 | €9,550 | - | - | - |
| Other operating charges640/8 | €2,259 | €2,088 | €2,377 | €547 | €462 | ▼ 15.6% |
| Non-recurring operating charges66A | €679 | - | €11,000 | - | - | - |
| Gross operating margin9900 | €47,675 | €33,638 | -€15,417 | -€1,101 | -€1,481 | ▼ 34.5% |
| Operating profit (loss)9901 | -€19,591 | -€37,070 | -€48,731 | -€1,794 | -€1,943 | ▼ 8.3% |
| Financial income75/76B | €254 | €1 | €432 | - | - | - |
| Recurring financial income75 | €254 | €1 | €432 | - | - | - |
| Financial charges65/66B | €2,963 | €1,570 | €462 | €287 | €67 | ▼ 76.7% |
| Recurring financial charges65 | €2,963 | €1,570 | €462 | €287 | €67 | ▼ 76.7% |
| Profit (loss) for the period before taxes9903 | -€22,300 | -€38,639 | -€48,761 | -€2,081 | -€2,009 | ▲ 3.4% |
| Profit (loss) for the period9904 | -€22,300 | -€38,639 | -€48,761 | -€2,081 | -€2,009 | ▲ 3.4% |
| Profit (loss) for the period to be appropriated9905 | -€22,300 | -€38,639 | -€48,761 | -€2,081 | -€2,009 | ▲ 3.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €211,479 | €118,018 | €53,418 | €28,721 | €28,209 | ▼ 1.8% |
| Fixed assets21/28 | €32,435 | €43,572 | €23,022 | - | - | - |
| Tangible fixed assets22/27 | €32,300 | €43,437 | €22,887 | - | - | - |
| Plant, machinery and equipment23 | €28,500 | €23,750 | €8,000 | - | - | - |
| Furniture and vehicles24 | €3,800 | €19,687 | €14,887 | - | - | - |
| Financial fixed assets28 | €135 | €135 | €135 | - | - | - |
| Current assets29/58 | €179,044 | €74,446 | €30,396 | €28,721 | €28,209 | ▼ 1.8% |
| Stocks and contracts in progress3 | €15,750 | €16,820 | €4,850 | - | - | - |
| Stocks30/36 | €15,750 | €16,820 | €4,850 | - | - | - |
| Amounts receivable within one year40/41 | €32,041 | €30,586 | €1,829 | €1,622 | €48 | ▼ 97.0% |
| Trade receivables40 | €27,115 | €28,937 | €1,495 | €1,210 | - | - |
| Other amounts receivable41 | €4,926 | €1,649 | €334 | €412 | €48 | ▼ 88.4% |
| Cash at bank and in hand54/58 | €124,837 | €21,868 | €20,709 | €27,099 | €28,161 | ▲ 3.9% |
| Deferred charges and accrued income490/1 | €6,416 | €5,172 | €3,008 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €211,479 | €118,018 | €53,418 | €28,721 | €28,209 | ▼ 1.8% |
| Equity10/15 | €59,095 | €20,456 | -€28,305 | -€30,386 | -€32,395 | ▼ 6.6% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €52,895 | €14,256 | €14,256 | €14,256 | €14,256 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | €51,035 | €12,396 | €14,256 | €14,256 | €14,256 | = |
| Profit (loss) carried forward14 | - | - | -€48,761 | -€50,841 | -€52,851 | ▼ 4.0% |
| Amounts payable17/49 | €152,384 | €97,562 | €81,723 | €59,106 | €60,604 | ▲ 2.5% |
| Amounts payable after more than one year17 | €49,671 | €9,474 | €2,046 | - | - | - |
| Financial debts170/4 | €49,671 | €9,474 | €2,046 | - | - | - |
| Amounts payable within one year42/48 | €102,713 | €88,089 | €79,677 | €59,106 | €60,604 | ▲ 2.5% |
| Current portion of amounts payable after more than one year42 | €18,865 | €15,300 | €7,428 | - | - | - |
| Trade debts44 | €16,955 | €7,847 | €11,183 | €1,000 | - | - |
| Suppliers440/4 | €16,955 | €7,847 | €11,183 | €1,000 | - | - |
| Taxes, remuneration and social security45 | €9,073 | €7,122 | €3,246 | - | - | - |
| Taxes450/3 | €7,736 | €5,229 | €3,246 | - | - | - |
| Remuneration and social security454/9 | €1,337 | €1,893 | - | - | - | - |
| Other amounts payable47/48 | €57,820 | €57,820 | €57,820 | €58,106 | €60,604 | ▲ 4.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€22,300 | -€38,639 | -€48,761 | -€2,081 | -€2,009 | ▲ 3.4% |
| + Depreciation and write-downs630 | €9,500 | €12,863 | €9,550 | - | - | - |
| Operating cash flow (approximation) | -€12,800 | -€25,776 | -€39,211 | -€2,081 | -€2,009 | ▲ 3.4% |
| Investment in fixed assets (approximation) | - | -€24,000 | €11,000 | - | - | - |
| Change in cash | - | -€102,969 | -€1,159 | €6,390 | €1,062 | ▼ 83.4% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€48,761
Net result drops to -€48,761, the lowest in the series; recovery starts the following year.
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
24-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 24 days late
2021
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
03-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 34 days late
2019
31-12
Financial
Back to profitnet €42,752
Net result €42,752 after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 1.81
Current ratio from 0.56 to 1.81.
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Tongeren-Borgloon · 1 establishment unit since 2010
Ground area
2,406 m²
Building footprint
39 m²
Volume, LiDAR
206 m³
Parcel 73007B0915/00E000, Flanders · tallest building 6.9 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Wilderstraat 1089, 3840 Tongeren-Borgloon
since 20102.192.759.630
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73007B0915/00E000 | Flanders | 2,406 m² | 1 · 39 m² | 6.9 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.
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Of 3,960 companies in sector 43331 we hold annual accounts for 1,788. 1,361 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded07-09-2010
Fiscal year end31-12
Activities, NACEBEL 2025
43331Floor and wall tiling
25110Manufacture of metal structures and parts of structures
25120Manufacture of fabricated metal products, except machinery and equipment
43320Joinery installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0829211131
Also
9925:BE0829211131
Registered
23-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.