THISE
ActiveTHISE has been active since 1979 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.14M and a net result of €281k. Equity remains stable across the filed fiscal years (±1.9% per year). Its solvency ranks better than 31% of 405 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
67
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability77▲+19
Solvency53▼-8
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €75k at 30 days acceptable
Liquidity tight (current ratio 1.48 against 1.43 in 2024; short-term debt: 53% and cash: 10.4% of total assets), and 71.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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
28.2%
Return on assets
6.9%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 19-08-2026, 19 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
19 d late
2024
17 d early
2023
27 d early
2022
31 d early
2021
31 d late
2020
26 d late
2019
66 d late
← before the deadline
after the deadline →
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
19-09-2026 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
€281k▲ 95.9%
2024 · €143k
2018: €331k
2019: €238k
2020: €3k
2021: €5k
2022: €100k
2023: €105k
2024: €143k
2018 → 2025
Working capital
€1.03M▲ 53.9%
2024 · €668k
2018: €723k
2019: €695k
2020: €685k
2021: €664k
2022: €813k
2023: €647k
2024: €668k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.04M-€1.04M▼ 0.1%€1.04M▲ 0.3%€1.08M▲ 4.0%€1.14M▲ 5.5%
Operating result€74k-€171k▲ 131%€174k▲ 1.9%€312k▲ 78.9%€388k▲ 24.4%
Net result€5k-€100k▲ 1,823%€105k▲ 4.7%€143k▲ 36.8%€281k▲ 95.9%
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 24% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.06M
Fixed assets
€881k▲ 16.5%
Current assets
€3.18M▲ 43.3%
Equity and liabilities €4.06M
Equity
€1.14M▲ 5.5%
Debt
€2.92M▲ 54.3%
The debt ratio rises from 63.5% to 71.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€596k▲
2024 · €509k
Cash flow
€489k▲
2024 · €341k
Solvency
28.2%▼
2024 · 36.5%
Current ratio
1.48▲
2024 · 1.43
Quick ratio
1.36▲
2024 · 1.18
Debt / equity
2.55▲
2024 · 1.74
ROE
24.6%▲
2024 · 13.2%
ROA
6.9%▲
2024 · 4.8%
Interest coverage
8.49▲
2024 · 4.04
Debt
€2.92M▲
2024 · €1.89M
Debt ≤ 1 year
€2.15M▲
2024 · €1.55M
Debt > 1 year
€765k▲
2024 · €340k
Income taxes
€38k▼
2024 · €44k
Staff costs
€971k▼
2024 · €998k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€2.98M€4.06M▲
Fixed assets21/28€756k€881k▲
Intangible fixed assets21€59k€44k▼
Tangible fixed assets22/27€697k€836k▲
Land and buildings22€11k€28k▲
Plant, machinery and equipment23€219k€147k▼
Furniture and vehicles24€42k€68k▲
Leasing and similar rights25€347k€521k▲
Other tangible fixed assets26€78k€72k▼
Financial fixed assets28€174€674▲
Current assets29/58€2.22M€3.18M▲
Stocks and contracts in progress3€388k€248k▼
Stocks30/36€159k€94k▼
Contracts in progress37€228k€153k▼
Amounts receivable within one year40/41€1.67M€2.50M▲
Trade receivables40€668k€1.19M▲
Other amounts receivable41€1.00M€1.30M▲
Cash at bank and in hand54/58€146k€424k▲
Deferred charges and accrued income490/1€12k€12k▼
Equity and liabilities
Total equity and liabilities10/49€2.98M€4.06M▲
Equity10/15€1.08M€1.14M▲
Contributions10/11€243k€243k=
Reserves13€197k€197k=
Distributable reserves133€197k€197k=
Profit (loss) carried forward14€640k€701k▲
Investment grants15€5k€3k▼
Amounts payable17/49€1.89M€2.92M▲
Amounts payable after more than one year17€340k€765k▲
Financial debts170/4€340k€765k▲
Amounts payable within one year42/48€1.55M€2.15M▲
Current portion of amounts payable after more than one year42€154k€268k▲
Financial debts43€100k€150k▲
Credit institutions430/8€100k€150k▲
Trade debts44€585k€677k▲
Suppliers440/4€585k€677k▲
Advances received on contracts in progress46-€338k
Taxes, remuneration and social security45€611k€499k▼
Taxes450/3€479k€425k▼
Remuneration and social security454/9€132k€74k▼
Other amounts payable47/48€100k€220k▲
Income statement
Code20242025
Non-recurring operating income76A€0-
Remuneration, social security and pensions62€998k€971k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€197k€208k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€23k€0▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€123k€524▼
Other operating charges640/8€29k€23k▼
Non-recurring operating charges66A-€652
Gross operating margin9900€1.68M€1.59M▼
Operating profit (loss)9901€312k€388k▲
Financial income75/76B€2k€2k▼
Recurring financial income75€2k€2k▼
Financial charges65/66B€126k€70k▼
Recurring financial charges65€126k€70k▼
Profit (loss) for the period before taxes9903€188k€319k▲
Income taxes67/77€44k€38k▼
Profit (loss) for the period9904€143k€281k▲
Profit (loss) for the period to be appropriated9905€143k€281k▲
Appropriation of the result
Profit (loss) to be appropriated9906€740k€921k▲
Profit (loss) brought forward from the previous period14P€597k€640k▲
Profit to be distributed694/7€100k€220k▲
Directors or managers695€100k€220k▲
Social balance
Average headcount (FTE)908714.514.3▼
The notes to these accounts (23 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
19-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 19 days late
2025
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 26 days late
2020
31-12
Financial
Weakest financial yearnet €3k ▼98.8%
Net result drops to €3k, the lowest in the series; recovery starts the following year.
05-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 66 days late
2019
31-12
Financial
Equity above €1MEq €1.03M ▲9.2%
2 profitable years in a row build equity to €1.03M.
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
14-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 14 days late
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Herstal · 1 establishment unit since 2019
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.
Rue des Alouettes 1004041 HerstalGround area
1.2 ha
Building footprint
717 m²
Volume, LiDAR
4,415 m³
Parcel 62071A0209/06_000, Wallonia · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
THISE
since 20192.289.736.666
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62071A0209/06_000 | Wallonia | 1.2 ha | 1 · 717 m² | 7.0 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.
Similar companies · same sector, comparable size
DQN.
BE 0424.152.888
Kontich · Eq €1.17M
INDINOX
BE 0430.776.208
Lokeren · Eq €1.21M
BMT E.
BE 0889.986.183
Beernem · Eq €1.03M
ELEKTROTECHNIEK VERNO
BE 0477.899.105
Temse · Eq €1.27M
SEPARTECH
BE 0688.846.092
Seneffe · Eq €1.27M
Of 346 companies in sector 28990 we hold annual accounts for 278. 182 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded18-06-1979
Fiscal year end31-12
Activities, NACEBEL
25639Manufacture of fabricated metal products, except machinery and equipment
28620
28990Manufacture of machinery and equipment not elsewhere classified
29564
Sources
Crossroads Bank for EnterprisesNational Bank · 47 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.