Thivico
ActiveThivico has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €399k and a net result of €-32k. Equity remains stable across the filed fiscal years (±2.3% per year). Its solvency ranks better than 95% of 27358 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency100=
Growth32=
Stability100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €21k at 30 days acceptable
Liquidity ample (current ratio 12.43 against 4.75 in 2024), and 7.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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
Sector 43
higher
← 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 2025Solvency, return and age of the figures
Solvency
92.4%
Return on assets
-7.4%
Age of the figures
8 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€32k
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 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
31 d early
2023
22 d early
2022
20 d early
2021
18 d early
2020
19 d early
2019
28 d early
← 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
13-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€399k▼ 7.4%
2024 · €430k
2018: €501k
2019: €457k
2020: €379k
2021: €408k
2022: €371k
2023: €441k
2024: €430k
2018 → 2025
Total assets
€431k▼ 29.4%
2024 · €610k
2018: €638k
2019: €595k
2020: €589k
2021: €499k
2022: €518k
2023: €652k
2024: €610k
2018 → 2025
Net result
€-32k▼ 197%
2024 · €-11k
2018: €10k
2019: €26k
2020: €50k
2021: €29k
2022: €37k
2023: €70k
2024: €-11k
2018 → 2025
Working capital
€373k▲ 19.6%
2024 · €312k
2018: €438k
2019: €416k
2020: €358k
2021: €362k
2022: €330k
2023: €320k
2024: €312k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€408k-€371k▼ 8.9%€441k▲ 18.8%€430k▼ 2.4%€399k▼ 7.4%
Operating result€63k-€50k▼ 21.4%€93k▲ 87.3%€-15k€-37k▼ 141%
Net result€29k-€37k▲ 27.5%€70k▲ 89.4%€-11k€-32k▼ 197%
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 €37k in 2025 against €15k in 2024; the loss grows and 2025 is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €431k
Fixed assets
€25k▼ 88.2%
Current assets
€406k▲ 2.7%
Equity and liabilities €431k
Equity
€399k▼ 7.4%
Provisions
€0▼ 100%
Debt
€33k▼ 81.1%
The debt ratio falls from 28.3% to 7.6%: debt falls faster than equity shrinks.
Key figures and ratios
EBITDA
€-26k▼
2024 · €16k
Cash flow
€-21k▼
2024 · €21k
Solvency
92.4%▲
2024 · 70.5%
Current ratio
12.43▲
2024 · 4.75
Quick ratio
12.10▲
2024 · 4.58
Debt / equity
0.08▼
2024 · 0.40
ROE
-8.0%▼
2024 · -2.5%
ROA
-7.4%▼
2024 · -1.8%
Interest coverage
-3.58▼
2024 · 1.29
Debt
€33k▼
2024 · €173k
Debt ≤ 1 year
€33k▼
2024 · €83k
Debt > 1 year
€0▼
2024 · €85k
Income taxes
€235▼
2024 · €2k
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€610k€431k▼
Fixed assets21/28€215k€25k▼
Tangible fixed assets22/27€206k€16k▼
Plant, machinery and equipment23€1k€728▼
Furniture and vehicles24€78k€16k▼
Leasing and similar rights25€127k€0▼
Other tangible fixed assets26€110€0▼
Financial fixed assets28€9k€9k=
Current assets29/58€395k€406k▲
Stocks and contracts in progress3€14k€11k▼
Stocks30/36€14k€11k▼
Amounts receivable within one year40/41€22k€12k▼
Trade receivables40€18k€9k▼
Other amounts receivable41€4k€3k▼
Current investments50/53€305k€340k▲
Cash at bank and in hand54/58€38k€35k▼
Deferred charges and accrued income490/1€16k€7k▼
Equity and liabilities
Total equity and liabilities10/49€610k€431k▼
Equity10/15€430k€399k▼
Contributions10/11€37k€37k=
Reserves13€393k€361k▼
Tax-exempt reserves132€30k€0▼
Distributable reserves133€363k€361k▼
Provisions and deferred taxes16€8k€0▼
Deferred taxes168€8k€0▼
Amounts payable17/49€173k€33k▼
Amounts payable after more than one year17€85k€0▼
Financial debts170/4€85k€0▼
Amounts payable within one year42/48€83k€33k▼
Current portion of amounts payable after more than one year42€26k€0▼
Trade debts44€8k€3k▼
Suppliers440/4€8k€3k▼
Taxes, remuneration and social security45€3k€1k▼
Taxes450/3€3k€1k▼
Other amounts payable47/48€46k€29k▼
Accrued charges and deferred income492/3€4k€0▼
Income statement
Code20242025
Non-recurring operating income76A€3k€0▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€32k€11k▼
Other operating charges640/8€17k€932▼
Non-recurring operating charges66A-€16k
Gross operating margin9900€33k€-8k▼
Operating profit (loss)9901€-15k€-37k▼
Financial income75/76B€18k€5k▼
Recurring financial income75€18k€5k▼
Financial charges65/66B€13k€7k▼
Recurring financial charges65€13k€7k▼
Profit (loss) for the period before taxes9903€-9k€-39k▼
Transfer from deferred taxes780€860€8k▲
Transfer to deferred taxes680€0-
Income taxes67/77€2k€235▼
Profit (loss) for the period9904€-11k€-32k▼
Transfer from tax-exempt reserves789€3k€30k▲
Transfer to tax-exempt reserves689€0-
Profit (loss) for the period to be appropriated9905€-7k€-2k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-7k€-2k▲
Transfer from equity791/2€7k€2k▼
Transfer to equity691/2€0-
To other reserves6921€0-
The notes to these accounts (18 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
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-32k
Net result drops to €-32k, the lowest in the series.
31-12
Financial
Liquidity triplescurrent ratio 12.43
Current ratio from 4.75 to 12.43; short-term debt falls from €83k to €33k.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €70k ▲89.4%
Operating result €93k, net result €70k, both a record.
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
03-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
03-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Aalter · 1 establishment unit since 2001
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.
Middelweg 1189910 AalterGround area
1,020 m²
Building footprint
203 m²
Volume, LiDAR
1,213 m³
Parcel 44067C0735/00G000, Flanders · tallest building 10.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Thivico
since 20012.095.202.077
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44067C0735/00G000 | Flanders | 1,020 m² | 1 · 203 m² | 10.1 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.
Public money · subsidies and aid
Flemish government
2023 · 2 entries · 1,778 EUR awarded · 1,778 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 2 | 1,778 EUR | 1,778 EUR |
Schemes
Subsidies ecologisch en veilig transport (stopgezet)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Legal Entity Identifier
967600ML7KPI9DLNCW50
Similar companies · same sector, comparable size
WALBERS ZONWERINGEN
BE 0428.573.219
Beerse · Eq €398k
WINANDY CONSTRUCTION
BE 0644.905.884
Theux · Eq €401k
Q-TECHNICIANS
BE 0794.671.312
Geraardsbergen · Eq €396k
MONTAGYP
BE 0416.431.094
Lier · Eq €402k
JSF
BE 0558.973.386
Mol · Eq €402k
Of 3,987 companies in sector 43310 we hold annual accounts for 1,736. 1,101 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded11-09-2001
Fiscal year end31-12
Activities, NACEBEL
43310Plastering work
Sources
Crossroads Bank for EnterprisesNational Bank · 24 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.