THIVER
ActiveSummary
THIVER has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €438,973 and a net result of €6,157. Equity remains stable across the filed fiscal years (±0.2% per year). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability40▲+2
Solvency100=
Growth63▲+17
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity short (current ratio 0.51 against 0.45 in 2024; short-term debt: 22.5% and cash: 0% of total assets), and 22.5% of the assets are financed with debt.
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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
77.5%
Return on assets
1.1%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 08-12-2025, 54 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
54 d early
2024
49 d early
2023
57 d early
2022
47 d early
2021
45 d early
2020
51 d early
2019
9 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 45 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€12,000=
2020 · €12,000
EBIT margin
38.2%▼ 2.3pp
2020 · 40.5%
Net result
€6,157▲ 256%
2024 · €1,730
Working capital
-€62,502▲ 7.7%
2024 · -€67,707
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
Turnover€12,000=
Operating result€4,584▼ 5.7%€4,459▼ 2.7%€4,646▲ 4.2%€2,970▼ 36.1%€6,950▲ 134%
Net result€2,621▼ 33.0%€3,235▲ 23.5%€3,456▲ 6.8%€1,730▼ 49.9%€6,157▲ 256%
EBIT margin38.2%▼ 2.3pp
Equity€435,394▲ 0.1%€435,630▲ 0.1%€436,086▲ 0.1%€437,816▲ 0.4%€438,973▲ 0.3%
Total assets€559,649▼ 0.1%€560,884▲ 0.2%€561,340▲ 0.1%€560,070▼ 0.2%€566,227▲ 1.1%
Debt€124,254▼ 0.8%€125,254▲ 0.8%€125,254=€122,254▼ 2.4%€127,254▲ 4.1%
Working capital-€90,082▲ 7.5%-€83,195▲ 7.6%-€76,088▲ 8.5%-€67,707▲ 11.0%-€62,502▲ 7.7%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 134% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €566,227
Fixed assets
€501,475 ▼ 0.8%
Current assets
€64,752 ▲ 18.7%
Equity and liabilities €566,227
Equity
€438,973 ▲ 0.3%
Debt
€127,254 ▲ 4.1%
Debt's share of the balance-sheet total rises from 21.8% to 22.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€10,998▲
2024 · €9,621
Cash flow
€10,205▲
2024 · €8,381
Current ratio
0.51▲
2024 · 0.45
Debt to equity
0.29▲
2024 · 0.28
ROE
1.4%▲
2024 · 0.4%
ROA
1.1%▲
2024 · 0.3%
Debt ≤ 1 year
€127,254▲
2024 · €122,254
Income taxes
€793▼
2024 · €1,240
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 |
|---|---|---|---|---|---|---|
| Turnover70 | €12,000 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €670 | €703 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,651 | €6,651 | €6,651 | €6,651 | €4,048 | ▼ 39.1% |
| Other operating charges640/8 | - | €220 | €0 | €440 | €220 | ▼ 50.0% |
| Gross operating margin9900 | €11,455 | €11,330 | €11,297 | €10,061 | €11,218 | ▲ 11.5% |
| Operating profit (loss)9901 | €4,584 | €4,459 | €4,646 | €2,970 | €6,950 | ▲ 134% |
| Profit (loss) for the period before taxes9903 | €4,584 | €4,459 | €4,646 | €2,970 | €6,950 | ▲ 134% |
| Income taxes67/77 | €1,963 | €1,223 | €1,190 | €1,240 | €793 | ▼ 36.1% |
| Profit (loss) for the period9904 | €2,621 | €3,235 | €3,456 | €1,730 | €6,157 | ▲ 256% |
| Profit (loss) for the period to be appropriated9905 | €2,621 | €3,235 | €3,456 | €1,730 | €6,157 | ▲ 256% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €559,649 | €560,884 | €561,340 | €560,070 | €566,227 | ▲ 1.1% |
| Fixed assets21/28 | €525,476 | €518,825 | €512,174 | €505,523 | €501,475 | ▼ 0.8% |
| Tangible fixed assets22/27 | €47,476 | €40,825 | €34,174 | €27,523 | €23,475 | ▼ 14.7% |
| Land and buildings22 | - | €40,825 | €34,174 | €27,523 | €23,475 | ▼ 14.7% |
| Financial fixed assets28 | €478,000 | €478,000 | €478,000 | €478,000 | €478,000 | = |
| Current assets29/58 | €34,173 | €42,059 | €49,166 | €54,547 | €64,752 | ▲ 18.7% |
| Amounts receivable within one year40/41 | €34,173 | €42,059 | €49,166 | €54,492 | €64,492 | ▲ 18.4% |
| Other amounts receivable41 | - | €42,059 | €49,166 | €54,492 | €64,492 | ▲ 18.4% |
| Cash at bank and in hand54/58 | - | - | - | €55 | €261 | ▲ 370% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €559,649 | €560,884 | €561,340 | €560,070 | €566,227 | ▲ 1.1% |
| Equity10/15 | €435,394 | €435,630 | €436,086 | €437,816 | €438,973 | ▲ 0.3% |
| Contributions10/11 | €426,400 | €426,400 | €426,400 | €426,400 | €426,400 | = |
| Capital10 | - | €426,400 | €426,400 | €426,400 | €426,400 | = |
| Issued capital100 | - | €426,400 | €426,400 | €426,400 | €426,400 | = |
| Reserves13 | €1,300 | €1,500 | €1,700 | €1,800 | €2,300 | ▲ 27.8% |
| Non-distributable reserves130/1 | - | €1,500 | €1,700 | €1,800 | €2,300 | ▲ 27.8% |
| Legal reserve130 | - | €1,500 | €1,700 | €1,800 | €2,300 | ▲ 27.8% |
| Profit (loss) carried forward14 | €7,694 | €7,730 | €7,986 | €9,616 | €10,273 | ▲ 6.8% |
| Amounts payable17/49 | €124,254 | €125,254 | €125,254 | €122,254 | €127,254 | ▲ 4.1% |
| Amounts payable within one year42/48 | €124,254 | €125,254 | €125,254 | €122,254 | €127,254 | ▲ 4.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €127,254 | - |
| Other amounts payable47/48 | - | €125,254 | €125,254 | €122,254 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,621 | €3,235 | €3,456 | €1,730 | €6,157 | ▲ 256% |
| + Depreciation and write-downs630 | €6,651 | €6,651 | €6,651 | €6,651 | €4,048 | ▼ 39.1% |
| Operating cash flow (approximation) | €9,272 | €9,886 | €10,107 | €8,381 | €10,205 | ▲ 21.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | - | - | - | €205 | - |
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
2025
08-12
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
30-06
Financial
Highest result since 2019net €6,157 ▲256%
Operating result €6,950, net result €6,157, both a record.
2024
13-12
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
30-06
Financial
Weakest financial yearnet €1,730 ▼49.9%
Net result drops to €1,730, the lowest in the series; recovery starts the following year.
2023
05-12
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2022
15-12
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2021
17-12
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2020
11-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
22-01
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
19-12
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
18-12
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
19-12
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.
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, Liège
Ground area
82 m²
Building footprint
95 m²
Volume, LiDAR
1,293 m³
Parcel 62078A0572/00V000, Wallonia · tallest building 14.9 m, ±5 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62078A0572/00V000 | Wallonia | 82 m² | 1 · 95 m² | 14.9 m · 5 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
Founded11-06-2003
Fiscal year end30-06
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
What can you do?
Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.
If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.