THIST
ActiveSummary
THIST has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €726k and a net result of €1.34M. Equity is growing by ~19.6% per year across the filed fiscal years. Its solvency ranks better than 81% of 2015 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+24
Solvency99▲+28
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days acceptable
Liquidity ample (current ratio 7.78 against 1.77 in 2024; short-term debt: 12.8% and cash: 11.2% of total assets), and 25.7% 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 · 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
74.3%
Return on assets
136.8%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 29-10-2025, 2 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
2 d early
2024
1 d early
2023
on the day
2022
4 d late
2021
86 d early
2020
10 d late
2019
26 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 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close25-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€726k▼ 2.5%
2024 · €744k
Total assets
€976k▼ 39.4%
2024 · €1.61M
Net result
€1.34M▲ 1,390%
2024 · €90k
Working capital
€848k▲ 130%
2024 · €369k
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
Line20212022202320242025
Operating result€188k▼ 3.8%€144k▼ 23.5%€245k▲ 70.0%€121k▼ 50.5%€1.76M▲ 1,351%
Net result€125k▲ 4.7%€92k▼ 25.8%€167k▲ 80.9%€90k▼ 46.4%€1.34M▲ 1,390%
Equity€446k▲ 38.7%€539k▲ 20.7%€706k▲ 31.0%€744k▲ 5.4%€726k▼ 2.5%
Total assets€863k▼ 3.2%€895k▲ 3.6%€1.16M▲ 29.4%€1.61M▲ 39.1%€976k▼ 39.4%
Debt€417k▼ 26.8%€356k▼ 14.7%€452k▲ 27.0%€866k▲ 91.8%€251k▼ 71.1%
Working capital€243k▲ 59.8%€288k▲ 18.7%€361k▲ 25.3%€369k▲ 2.1%€848k▲ 130%
Staff (FTE)7.9▲ 71.7%9.7▲ 22.8%9.5▼ 2.1%10.5▲ 10.5%3.5▼ 66.7%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 1,351% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €976k
Fixed assets
€4k ▼ 99.5%
Current assets
€973k ▲ 14.9%
Equity and liabilities €976k
Equity
€726k ▼ 2.5%
Debt
€251k ▼ 71.1%
Debt's share of the balance-sheet total falls from 53.8% to 25.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€1.76M▲
2024 · €222k
Cash flow
€1.34M▲
2024 · €191k
Current ratio
7.78▲
2024 · 1.77
Debt to equity
0.35▼
2024 · 1.16
ROE
184.1%▲
2024 · 12.1%
ROA
136.8%▲
2024 · 5.6%
Interest coverage
83.93▲
2024 · 15.00
Debt ≤ 1 year
€125k▼
2024 · €478k
Debt > 1 year
€0▼
2024 · €373k
Income taxes
€449k▲
2024 · €23k
Staff costs
€159k▼
2024 · €612k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €1.94M | - |
| Remuneration, social security and pensions62 | - | €457k | €451k | €612k | €159k | ▼ 73.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €89k | €80k | €76k | €101k | €0 | ▼ 100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €3k | €665 | €10k | €5k | ▼ 44.2% |
| Other operating charges640/8 | - | €1k | €980 | €9k | €1k | ▼ 86.1% |
| Non-recurring operating charges66A | - | - | - | €992 | €16k | ▲ 1,501% |
| Gross operating margin9900 | €628k | €685k | €773k | €854k | €1.94M | ▲ 127% |
| Operating profit (loss)9901 | €188k | €144k | €245k | €121k | €1.76M | ▲ 1,351% |
| Financial income75/76B | - | €10 | €10k | €7k | €50k | ▲ 649% |
| Recurring financial income75 | €691 | €10 | €10k | €7k | €50k | ▲ 649% |
| Financial charges65/66B | - | €3k | €7k | €15k | €21k | ▲ 41.2% |
| Recurring financial charges65 | €4k | €3k | €7k | €15k | €21k | ▲ 41.2% |
| Profit (loss) for the period before taxes9903 | €185k | €141k | €248k | €113k | €1.78M | ▲ 1,481% |
| Income taxes67/77 | €60k | €49k | €80k | €23k | €449k | ▲ 1,834% |
| Profit (loss) for the period9904 | €125k | €92k | €167k | €90k | €1.34M | ▲ 1,390% |
| Profit (loss) for the period to be appropriated9905 | €125k | €92k | €167k | €90k | €1.34M | ▲ 1,390% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €863k | €895k | €1.16M | €1.61M | €976k | ▼ 39.4% |
| Fixed assets21/28 | €370k | €311k | €345k | €764k | €4k | ▼ 99.5% |
| Intangible fixed assets21 | €339k | €272k | €210k | €160k | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €31k | €39k | €134k | €599k | €0 | ▼ 100% |
| Furniture and vehicles24 | - | €39k | €82k | €173k | €0 | ▼ 100% |
| Other tangible fixed assets26 | - | - | - | €426k | €0 | ▼ 100% |
| Assets under construction and advance payments27 | - | - | €53k | €0 | - | - |
| Financial fixed assets28 | - | - | - | €4k | €4k | = |
| Current assets29/58 | €493k | €584k | €813k | €847k | €973k | ▲ 14.9% |
| Amounts receivable after more than one year29 | - | - | - | - | €524k | - |
| Other amounts receivable291 | - | - | - | - | €524k | - |
| Amounts receivable within one year40/41 | €240k | €336k | €599k | €771k | €339k | ▼ 56.0% |
| Trade receivables40 | - | €319k | €440k | €479k | €217k | ▼ 54.7% |
| Other amounts receivable41 | - | €17k | €159k | €292k | €122k | ▼ 58.2% |
| Cash at bank and in hand54/58 | €211k | €204k | €137k | €13k | €110k | ▲ 727% |
| Deferred charges and accrued income490/1 | - | €44k | €78k | €63k | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €863k | €895k | €1.16M | €1.61M | €976k | ▼ 39.4% |
| Equity10/15 | €446k | €539k | €706k | €744k | €726k | ▼ 2.5% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | - | €62k | €62k | €62k | €62k | = |
| Issued capital100 | - | €62k | €62k | €62k | €62k | = |
| Reserves13 | €384k | €477k | €644k | €682k | €664k | ▼ 2.7% |
| Non-distributable reserves130/1 | - | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | - | €6k | €6k | €6k | €6k | = |
| Distributable reserves133 | - | €471k | €638k | €676k | €657k | ▼ 2.7% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €417k | €356k | €452k | €866k | €251k | ▼ 71.1% |
| Amounts payable after more than one year17 | €163k | €60k | €0 | €373k | €0 | ▼ 100% |
| Financial debts170/4 | - | €60k | €0 | €373k | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €250k | €296k | €452k | €478k | €125k | ▼ 73.8% |
| Current portion of amounts payable after more than one year42 | - | €102k | €60k | €43k | €0 | ▼ 100% |
| Financial debts43 | - | - | €45k | €0 | - | - |
| Credit institutions430/8 | - | - | €45k | €0 | - | - |
| Trade debts44 | €40k | €70k | €146k | €287k | €43k | ▼ 85.0% |
| Suppliers440/4 | - | €70k | €146k | €287k | €43k | ▼ 85.0% |
| Taxes, remuneration and social security45 | - | €123k | €199k | €148k | €75k | ▼ 49.4% |
| Taxes450/3 | - | €43k | €116k | €54k | €75k | ▲ 37.8% |
| Remuneration and social security454/9 | - | €80k | €83k | €93k | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €830 | €852 | €800 | €7k | ▲ 813% |
| Accrued charges and deferred income492/3 | - | €156 | €0 | €16k | €126k | ▲ 679% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €125k | €92k | €167k | €90k | €1.34M | ▲ 1,390% |
| + Depreciation and write-downs630 | €89k | €80k | €76k | €101k | €0 | ▼ 100% |
| Operating cash flow (approximation) | €214k | €172k | €243k | €191k | €1.34M | ▲ 600% |
| Investment in fixed assets (approximation) | - | €-20k | €-110k | €-520k | €760k | ▲ 246% |
| Change in cash | - | €-7k | €-67k | €-124k | €97k | ▲ 178% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
29-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-03
Financial
Highest result since 2019net €1.34M ▲1,390%
Operating result €1.76M, net result €1.34M, both a record.
31-03
Financial
Liquidity quadruplescurrent ratio 7.78
Current ratio from 1.77 to 7.78; short-term debt falls from €478k to €125k.
2024
30-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
04-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 4 days late
31-03
Financial
Equity above €500kEq €539k ▲20.7%
4 profitable years in a row build equity to €539k.
2021
06-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
10-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 10 days late
2019
26-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 26 days late
2018
02-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated 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, Tielt · 1 establishment unit since 2016
Ground area
2,713 m²
Building footprint
665 m²
Volume, LiDAR
215 m³
Parcel 37303G0817/00D000, Flanders · tallest building 8.6 m. Linked by address, not a title deed.
12
companies at this address
See who is registered here
1 establishment unit
SONAR ARCHITECTEN
since 20162.256.348.177
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37303G0817/00D000 | Flanders | 2,713 m² | 1 · 665 m² | 8.6 m |
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
2022 to 2024 · 5 entries · 11,877 EUR awarded · 12,125 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 3 | 11,667 EUR | 11,667 EUR |
| 2023 | 1 | 0 EUR | 248 EUR |
| 2022 | 1 | 210 EUR | 210 EUR |
Schemes
Individueel Maatwerk
Vlaams opleidingsverlof (VOV)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
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Of 18,249 companies in sector 71111 we hold annual accounts for 6,319. 3,374 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded15-09-2016
Fiscal year end31-03
Activities, NACEBEL 2025
71111Activities of building architects
Scores and ratios are computed by Checked and are not a credit decision.