THM CONSULTING
ActiveSummary
THM CONSULTING has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €95k and a net result of €15k. Equity is growing by ~22.2% per year across the filed fiscal years. Its solvency ranks better than 60% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability82▼-1
Solvency91▼-1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity ample (current ratio 2.93 against 3.02 in 2024; short-term debt: 34.1% of total assets), and 34.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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 2025Solvency, return and age of the figures
Solvency
65.9%
Return on assets
10.3%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 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
27 d late
2024
31 d late
2023
26 d early
2022
30 d late
2021
16 d late
2020
4 d early
2019
61 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€95k▼ 6.5%
2024 · €102k
2018: €35k
2019: €33k▼ -5.8% vs 2018lowest in 8 years
2020: €43k▲ +32.2% vs 2019
2021: €62k▲ +44.0% vs 2020
2022: €79k▲ +27.2% vs 2021
2023: €113k▲ +42.0% vs 2022highest in 8 years
2024: €102k▼ -9.8% vs 2023
2025: €95k▼ -6.5% vs 2024
2018 → 2025
Total assets
€144k▼ 4.8%
2024 · €152k
2018: €108k
2019: €96k▼ -11.5% vs 2018
2020: €96k▼ -0.4% vs 2019lowest in 8 years
2021: €108k▲ +13.5% vs 2020
2022: €120k▲ +10.3% vs 2021
2023: €156k▲ +30.4% vs 2022highest in 8 years
2024: €152k▼ -2.9% vs 2023
2025: €144k▼ -4.8% vs 2024
2018 → 2025
Net result
€15k▼ 15.4%
2024 · €18k
2018: €8k
2019: €-2k▼ -125% vs 2018lowest in 8 years
2020: €11k▲ +620% vs 2019
2021: €19k▲ +80.5% vs 2020
2022: €17k▼ -11.0% vs 2021
2023: €33k▲ +96.5% vs 2022highest in 8 years
2024: €18k▼ -47.4% vs 2023
2025: €15k▼ -15.4% vs 2024
2018 → 2025
Working capital
€95k▼ 6.2%
2024 · €101k
2018: €32k
2019: €31k▼ -3.7% vs 2018lowest in 8 years
2020: €43k▲ +38.4% vs 2019
2021: €61k▲ +41.0% vs 2020
2022: €78k▲ +28.5% vs 2021
2023: €112k▲ +43.2% vs 2022highest in 8 years
2024: €101k▼ -9.6% vs 2023
2025: €95k▼ -6.2% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€62k-€79k▲ 27.2%€113k▲ 42.0%€102k▼ 9.8%€95k▼ 6.5%
2021: €62klowest in 5 years
2022: €79k▲ +27.2% vs 2021
2023: €113k▲ +42.0% vs 2022highest in 5 years
2024: €102k▼ -9.8% vs 2023
2025: €95k▼ -6.5% vs 2024
Operating result€32k-€33k▲ 2.1%€51k▲ 57.3%€25k▼ 51.6%€22k▼ 9.7%
2021: €32k
2022: €33k▲ +2.1% vs 2021
2023: €51k▲ +57.3% vs 2022highest in 5 years
2024: €25k▼ -51.6% vs 2023
2025: €22k▼ -9.7% vs 2024lowest in 5 years
Net result€19k-€17k▼ 11.0%€33k▲ 96.5%€18k▼ 47.4%€15k▼ 15.4%
2021: €19k
2022: €17k▼ -11.0% vs 2021
2023: €33k▲ +96.5% vs 2022highest in 5 years
2024: €18k▼ -47.4% vs 2023
2025: €15k▼ -15.4% vs 2024lowest in 5 years
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; 2025 is 10% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €144k
Fixed assets
€348 ▼ 46.1%
Current assets
€144k ▼ 4.6%
Equity and liabilities €144k
Equity
€95k ▼ 6.5%
Debt
€49k ▼ 1.4%
Debt's share of the balance-sheet total rises from 32.9% to 34.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€23k▼
2024 · €25k
Cash flow
€15k▼
2024 · €18k
Current ratio
2.93▼
2024 · 3.02
Debt to equity
0.52▲
2024 · 0.49
ROE
15.6%▼
2024 · 17.3%
ROA
10.3%▼
2024 · 11.6%
Interest coverage
7.73▼
2024 · 12.28
Debt ≤ 1 year
€49k▼
2024 · €50k
Income taxes
€8k▼
2024 · €8k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 44 lines
Balance sheet
Code20242025
Assets
Total assets20/58€152k€144k▼
Fixed assets21/28€645€348▼
Tangible fixed assets22/27€595€298▼
Other tangible fixed assets26€595€298▼
Financial fixed assets28€50€50=
Current assets29/58€151k€144k▼
Amounts receivable after more than one year29€142k€136k▼
Other amounts receivable291€142k€136k▼
Amounts receivable within one year40/41€9k€8k▼
Trade receivables40€9k€5k▼
Other amounts receivable41-€3k
Deferred charges and accrued income490/1€459€471▲
Equity and liabilities
Total equity and liabilities10/49€152k€144k▼
Equity10/15€102k€95k▼
Contributions10/11€16k€16k=
Reserves13€10k€10k=
Distributable reserves133€10k€10k=
Profit (loss) carried forward14€76k€69k▼
Amounts payable17/49€50k€49k▼
Amounts payable within one year42/48€50k€49k▼
Financial debts43€6k€2k▼
Credit institutions430/8€6k€2k▼
Trade debts44€3k€4k▲
Suppliers440/4€3k€4k▲
Taxes, remuneration and social security45€40k€40k▼
Taxes450/3€40k€40k▼
Other amounts payable47/48€744€4k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€298€298=
Other operating charges640/8€999€812▼
Non-recurring operating charges66A-€4k
Gross operating margin9900€26k€27k▲
Operating profit (loss)9901€25k€22k▼
Financial income75/76B€3k€3k▼
Recurring financial income75€3k€3k▼
Financial charges65/66B€2k€3k▲
Recurring financial charges65€2k€3k▲
Profit (loss) for the period before taxes9903€26k€22k▼
Income taxes67/77€8k€8k▼
Profit (loss) for the period9904€18k€15k▼
Profit (loss) for the period to be appropriated9905€18k€15k▼
Appropriation of the result
Profit (loss) to be appropriated9906€105k€91k▼
Profit (loss) brought forward from the previous period14P€87k€76k▼
Profit to be distributed694/7€29k€21k▼
Return on contributions (dividend)694€29k€21k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €406 | €368 | €368 | €298 | €298 | = |
| Other operating charges640/8 | €794 | €3k | €734 | €999 | €812 | ▼ 18.7% |
| Non-recurring operating charges66A | €2k | €3k | - | - | €4k | - |
| Gross operating margin9900 | €35k | €38k | €53k | €26k | €27k | ▲ 4.3% |
| Operating profit (loss)9901 | €32k | €33k | €51k | €25k | €22k | ▼ 9.7% |
| Financial income75/76B | €0 | €1 | €0 | €3k | €3k | ▼ 4.3% |
| Recurring financial income75 | €0 | €1 | €0 | €3k | €3k | ▼ 4.3% |
| Financial charges65/66B | €5k | €2k | €2k | €2k | €3k | ▲ 43.7% |
| Recurring financial charges65 | €5k | €2k | €1k | €2k | €3k | ▲ 43.7% |
| Non-recurring financial charges66B | - | - | €1k | - | - | - |
| Profit (loss) for the period before taxes9903 | €27k | €31k | €49k | €26k | €22k | ▼ 13.3% |
| Income taxes67/77 | €8k | €14k | €16k | €8k | €8k | ▼ 8.8% |
| Profit (loss) for the period9904 | €19k | €17k | €33k | €18k | €15k | ▼ 15.4% |
| Profit (loss) for the period to be appropriated9905 | €19k | €17k | €33k | €18k | €15k | ▼ 15.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €108k | €120k | €156k | €152k | €144k | ▼ 4.8% |
| Fixed assets21/28 | €2k | €1k | €943 | €645 | €348 | ▼ 46.1% |
| Tangible fixed assets22/27 | €2k | €1k | €893 | €595 | €298 | ▼ 50.0% |
| Furniture and vehicles24 | €140 | €70 | - | - | - | - |
| Other tangible fixed assets26 | €1k | €1k | €893 | €595 | €298 | ▼ 50.0% |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €107k | €118k | €155k | €151k | €144k | ▼ 4.6% |
| Amounts receivable after more than one year29 | €75k | €75k | €148k | €142k | €136k | ▼ 4.4% |
| Other amounts receivable291 | €75k | €75k | €148k | €142k | €136k | ▼ 4.4% |
| Amounts receivable within one year40/41 | €25k | €43k | €3k | €9k | €8k | ▼ 9.2% |
| Trade receivables40 | - | €4k | €3k | €9k | €5k | ▼ 42.7% |
| Other amounts receivable41 | €25k | €39k | - | - | €3k | - |
| Cash at bank and in hand54/58 | €7k | - | €3k | - | - | - |
| Deferred charges and accrued income490/1 | €72 | - | €436 | €459 | €471 | ▲ 2.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €108k | €120k | €156k | €152k | €144k | ▼ 4.8% |
| Equity10/15 | €62k | €79k | €113k | €102k | €95k | ▼ 6.5% |
| Contributions10/11 | €16k | €16k | €16k | €16k | €16k | = |
| Reserves13 | €10k | €10k | €10k | €10k | €10k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €2k | - | - | - |
| Distributable reserves133 | €8k | €8k | €8k | €10k | €10k | = |
| Profit (loss) carried forward14 | €37k | €54k | €87k | €76k | €69k | ▼ 8.7% |
| Amounts payable17/49 | €46k | €40k | €43k | €50k | €49k | ▼ 1.4% |
| Amounts payable within one year42/48 | €46k | €40k | €43k | €50k | €49k | ▼ 1.4% |
| Financial debts43 | €10k | €2k | - | €6k | €2k | ▼ 73.6% |
| Credit institutions430/8 | €10k | €2k | - | €6k | €2k | ▼ 73.6% |
| Trade debts44 | €6k | €5k | €5k | €3k | €4k | ▲ 32.4% |
| Suppliers440/4 | €6k | €5k | €5k | €3k | €4k | ▲ 32.4% |
| Taxes, remuneration and social security45 | €29k | €32k | €35k | €40k | €40k | ▼ 0.9% |
| Taxes450/3 | €29k | €32k | €35k | €40k | €40k | ▼ 0.9% |
| Other amounts payable47/48 | €847 | €847 | €3k | €744 | €4k | ▲ 411% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19k | €17k | €33k | €18k | €15k | ▼ 15.4% |
| + Depreciation and write-downs630 | €406 | €368 | €368 | €298 | €298 | = |
| Operating cash flow (approximation) | €19k | €17k | €34k | €18k | €15k | ▼ 15.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
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
2026
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
05-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €33k ▲96.5%
Operating result €51k, net result €33k, both a record.
31-12
Financial
Equity above €100kEq €113k ▲42%
4 profitable years in a row build equity to €113k.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
16-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 16 days late
2021
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €11k
Net result €11k after one loss-making year.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
2019
31-12
Financial
Weakest financial yearnet €-2k
Net result drops to €-2k, the lowest in the series; recovery starts the following year.
09-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 9 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 23 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
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, Genappe · 1 establishment unit since 2006
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.
Grand et Petit Foriest 71472 GenappeGround area
697 m²
Building footprint
118 m²
Volume, LiDAR
654 m³
Parcel 25051G0042/00R000, Wallonia · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
THM CONSULTING SPRL
since 20062.157.922.475
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25051G0042/00R000 | Wallonia | 697 m² | 1 · 118 m² | 7.0 m · 2 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.
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 40,539 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
Founded23-11-2006
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
73110Advertising agencies
Scores and ratios are computed by Checked and are not a credit decision.