THIRION ENGINEERING
ActiveSummary
THIRION ENGINEERING has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €452,265 and a net result of €7,157. Equity is growing by ~3.9% per year across the filed fiscal years. Its solvency ranks better than 89% of 11615 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability71▼-1
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days acceptable
Liquidity ample (current ratio 8.51 against 9.64 in 2023; short-term debt: 10.8% and cash: 0.8% of total assets), and 10.8% of the assets are financed with debt.
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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 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
89.2%
Return on assets
1.4%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-08-2025, 28 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
28 d late
2023
23 d late
2022
3 d early
2021
31 d late
2020
31 d late
2019
90 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
History
Go further with this company
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Financials · fiscal year 2024, micro schema
Equity
€452,265▲ 1.6%
2023 · €445,108
Total assets
€506,885▼ 8.6%
2023 · €554,643
Net result
€7,157▼ 50.7%
2023 · €14,518
Working capital
€410,471▼ 8.1%
2023 · €446,478
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
Line20202021202220232024
Operating result€26,127▼ 26.6%€12,737▼ 51.2%€27,971▲ 120%€17,977▼ 35.7%€8,845▼ 50.8%
Net result€19,421▼ 13.8%€10,220▼ 47.4%€21,821▲ 114%€14,518▼ 33.5%€7,157▼ 50.7%
Equity€398,549▲ 4.7%€408,768▲ 2.6%€430,590▲ 5.3%€445,108▲ 3.4%€452,265▲ 1.6%
Total assets€540,092▼ 0.6%€520,962▼ 3.5%€562,516▲ 8.0%€554,643▼ 1.4%€506,885▼ 8.6%
Debt€83,670▼ 20.0%€54,319▼ 35.1%€74,052▲ 36.3%€51,661▼ 30.2%€54,620▲ 5.7%
Working capital€402,522▲ 7.8%€418,257▲ 3.9%€434,419▲ 3.9%€446,478▲ 2.8%€410,471▼ 8.1%
Staff (FTE)5.6▼ 6.7%5.3▼ 5.4%5.6▲ 5.7%4.5▼ 19.6%4.3▼ 4.4%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 51% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €506,885
Fixed assets
€41,794 ▼ 26.0%
Current assets
€465,092 ▼ 6.6%
Equity and liabilities €506,885
Equity
€452,265 ▲ 1.6%
Provisions
€0 ▼ 100%
Debt
€54,620 ▲ 5.7%
Debt's share of the balance-sheet total rises from 9.3% to 10.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€26,672▼
2023 · €33,233
Cash flow
€24,984▼
2023 · €29,775
Current ratio
8.51▼
2023 · 9.64
Quick ratio
7.77▼
2023 · 8.91
Debt to equity
0.12▲
2023 · 0.12
ROE
1.6%▼
2023 · 3.3%
ROA
1.4%▼
2023 · 2.6%
Interest coverage
633.24▲
2023 · 117.58
Debt ≤ 1 year
€54,620▲
2023 · €51,661
Income taxes
€7,525▼
2023 · €9,094
Staff costs
€208,435▼
2023 · €219,804
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €4,231 | - | - | - |
| Remuneration, social security and pensions62 | - | €222,920 | €209,563 | €219,804 | €208,435 | ▼ 5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,287 | €9,515 | €11,080 | €15,256 | €17,827 | ▲ 16.9% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | -€57,874 | - |
| Other operating charges640/8 | - | €971 | €1,021 | €1,224 | €1,241 | ▲ 1.4% |
| Gross operating margin9900 | €318,957 | €246,143 | €249,634 | €254,261 | €178,473 | ▼ 29.8% |
| Operating profit (loss)9901 | €26,127 | €12,737 | €27,971 | €17,977 | €8,845 | ▼ 50.8% |
| Financial income75/76B | - | €5,963 | €5,809 | €5,918 | €5,879 | ▼ 0.7% |
| Recurring financial income75 | €6,117 | €5,963 | €5,809 | €5,918 | €5,879 | ▼ 0.7% |
| Financial charges65/66B | - | €705 | €467 | €283 | €42 | ▼ 85.1% |
| Recurring financial charges65 | €824 | €705 | €467 | €283 | €42 | ▼ 85.1% |
| Profit (loss) for the period before taxes9903 | €31,420 | €17,996 | €33,313 | €23,612 | €14,682 | ▼ 37.8% |
| Income taxes67/77 | €11,999 | €7,776 | €11,492 | €9,094 | €7,525 | ▼ 17.3% |
| Profit (loss) for the period9904 | €19,421 | €10,220 | €21,821 | €14,518 | €7,157 | ▼ 50.7% |
| Profit (loss) for the period to be appropriated9905 | €19,421 | €10,220 | €21,821 | €14,518 | €7,157 | ▼ 50.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €540,092 | €520,962 | €562,516 | €554,643 | €506,885 | ▼ 8.6% |
| Fixed assets21/28 | €62,234 | €52,719 | €54,379 | €56,504 | €41,794 | ▼ 26.0% |
| Tangible fixed assets22/27 | €62,234 | €52,719 | €54,379 | €56,504 | €41,794 | ▼ 26.0% |
| Land and buildings22 | - | €52,719 | €45,188 | €37,657 | €30,125 | ▼ 20.0% |
| Furniture and vehicles24 | - | - | €9,191 | €18,848 | €11,668 | ▼ 38.1% |
| Current assets29/58 | €477,858 | €468,243 | €508,136 | €498,139 | €465,092 | ▼ 6.6% |
| Amounts receivable after more than one year29 | - | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Other amounts receivable291 | - | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Stocks and contracts in progress3 | - | - | - | €38,000 | €40,750 | ▲ 7.2% |
| Contracts in progress37 | - | - | - | €38,000 | €40,750 | ▲ 7.2% |
| Amounts receivable within one year40/41 | €215,214 | €173,236 | €194,479 | €207,894 | €215,871 | ▲ 3.8% |
| Trade receivables40 | - | €171,012 | €183,747 | €193,411 | €209,897 | ▲ 8.5% |
| Other amounts receivable41 | - | €2,224 | €10,732 | €14,483 | €5,975 | ▼ 58.7% |
| Cash at bank and in hand54/58 | €60,557 | €91,554 | €108,755 | €47,954 | €3,836 | ▼ 92.0% |
| Deferred charges and accrued income490/1 | - | €3,453 | €4,902 | €4,291 | €4,634 | ▲ 8.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €540,092 | €520,962 | €562,516 | €554,643 | €506,885 | ▼ 8.6% |
| Equity10/15 | €398,549 | €408,768 | €430,590 | €445,108 | €452,265 | ▲ 1.6% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €379,949 | €390,168 | €411,990 | €426,508 | €433,665 | ▲ 1.7% |
| Non-distributable reserves130/1 | - | €1,900 | €1,900 | - | - | - |
| Reserves not available under the articles1311 | - | €1,900 | €1,900 | - | - | - |
| Distributable reserves133 | - | €388,268 | €410,090 | €426,508 | €433,665 | ▲ 1.7% |
| Provisions and deferred taxes16 | €57,874 | €57,874 | €57,874 | €57,874 | - | - |
| Provisions for liabilities and charges160/5 | - | €57,874 | €57,874 | €57,874 | - | - |
| Pensions and similar obligations160 | - | €57,874 | €57,874 | €57,874 | - | - |
| Amounts payable17/49 | €83,670 | €54,319 | €74,052 | €51,661 | €54,620 | ▲ 5.7% |
| Amounts payable after more than one year17 | €8,334 | €4,334 | €334 | - | - | - |
| Financial debts170/4 | - | €4,334 | €334 | - | - | - |
| Amounts payable within one year42/48 | €75,336 | €49,986 | €73,718 | €51,661 | €54,620 | ▲ 5.7% |
| Current portion of amounts payable after more than one year42 | - | €4,000 | €10,690 | €334 | - | - |
| Trade debts44 | €22 | - | €9,465 | €4,349 | €4,582 | ▲ 5.4% |
| Suppliers440/4 | - | - | €9,465 | €4,349 | €4,582 | ▲ 5.4% |
| Taxes, remuneration and social security45 | - | €36,306 | €46,025 | €38,565 | €46,517 | ▲ 20.6% |
| Taxes450/3 | - | €18,283 | €25,506 | €13,452 | €24,047 | ▲ 78.8% |
| Remuneration and social security454/9 | - | €18,023 | €20,519 | €25,112 | €22,470 | ▼ 10.5% |
| Other amounts payable47/48 | - | €9,679 | €7,537 | €8,413 | €3,522 | ▼ 58.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,421 | €10,220 | €21,821 | €14,518 | €7,157 | ▼ 50.7% |
| + Depreciation and write-downs630 | €15,287 | €9,515 | €11,080 | €15,256 | €17,827 | ▲ 16.9% |
| Operating cash flow (approximation) | €34,708 | €19,735 | €32,901 | €29,775 | €24,984 | ▼ 16.1% |
| Investment in fixed assets (approximation) | - | €0 | -€12,739 | -€17,381 | -€3,117 | ▲ 82.1% |
| Change in cash | - | €30,996 | €17,202 | -€60,801 | -€44,119 | ▲ 27.4% |
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
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
31-12
Financial
Weakest financial yearnet €7,157 ▼50.7%
Net result drops to €7,157, the lowest in the series.
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 23 days late
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 90 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Lier · 1 establishment unit since 2009
Ground area
66 m²
Building footprint
66 m²
Volume, LiDAR
511 m³
Parcel 12021H0480/00H000, Flanders · tallest building 13.0 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
THIRION ENGINEERING
since 20092.177.303.669
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12021H0480/00H000 | Flanders | 66 m² | 1 · 66 m² | 13.0 m · 3 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.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 1,491 EUR awarded · 1,491 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 354 EUR | 459 EUR |
| 2024 | 1 | 300 EUR | 195 EUR |
| 2023 | 1 | 837 EUR | 837 EUR |
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Of 11,571 companies in sector 71121 we hold annual accounts for 6,563. 4,535 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
Founded05-01-2009
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
43211General electrical installation work
43222Installation of electric heating, air conditioning, cooling and ventilation
71111Activities of building architects
Scores and ratios are computed by Checked and are not a credit decision.