THOEN
ActiveSummary
THOEN has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.35M and a net result of €485k. Equity remains stable across the filed fiscal years (±1% per year). Its solvency ranks better than 94% of 8048 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability82▲+1
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €360k at 30 days acceptable
Liquidity ample (current ratio 15.89 against 8.11 in 2024; short-term debt: 6.1% and cash: 5.6% of total assets), and 6.5% 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 · 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
93.5%
Return on assets
10.4%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 28-04-2026, 94 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
94 d early
2024
94 d early
2023
30 d early
2022
55 d early
2021
31 d early
2020
9 d early
2019
1 d early
← 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, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€4.35M▲ 3.4%
2024 · €4.21M
2018: €3.86M
2019: €4.21M▲ +8.9% vs 2018
2020: €4.21M● 0.0% vs 2019
2021: €2.73M▼ -35.1% vs 2020lowest in 8 years
2022: €3.59M▲ +31.3% vs 2021
2023: €4.18M▲ +16.7% vs 2022
2024: €4.21M▲ +0.5% vs 2023
2025: €4.35M▲ +3.4% vs 2024highest in 8 years
2018 → 2025
Total assets
€4.65M▼ 3.9%
2024 · €4.84M
2018: €4.77M
2019: €5.12M▲ +7.4% vs 2018
2020: €5.12M● 0.0% vs 2019
2021: €4.73M▼ -7.6% vs 2020
2022: €5.32M▲ +12.4% vs 2021highest in 8 years
2023: €4.93M▼ -7.3% vs 2022
2024: €4.84M▼ -1.8% vs 2023
2025: €4.65M▼ -3.9% vs 2024lowest in 8 years
2018 → 2025
Net result
€485k▲ 5.0%
2024 · €462k
2018: €518k
2019: €443k▼ -14.5% vs 2018lowest in 8 years
2020: €512k▲ +15.4% vs 2019
2021: €531k▲ +3.8% vs 2020
2022: €854k▲ +60.9% vs 2021highest in 8 years
2023: €599k▼ -29.9% vs 2022
2024: €462k▼ -22.8% vs 2023
2025: €485k▲ +5.0% vs 2024
2018 → 2025
Working capital
€4.19M▲ 2.6%
2024 · €4.09M
2018: €3.26M
2019: €3.75M▲ +15.2% vs 2018
2020: €2.60M▼ -30.8% vs 2019lowest in 8 years
2021: €2.63M▲ +1.3% vs 2020
2022: €3.57M▲ +35.5% vs 2021
2023: €4.05M▲ +13.4% vs 2022
2024: €4.09M▲ +1.0% vs 2023
2025: €4.19M▲ +2.6% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2.73M-€3.59M▲ 31.3%€4.18M▲ 16.7%€4.21M▲ 0.5%€4.35M▲ 3.4%
2021: €2.73Mlowest in 5 years
2022: €3.59M▲ +31.3% vs 2021
2023: €4.18M▲ +16.7% vs 2022
2024: €4.21M▲ +0.5% vs 2023
2025: €4.35M▲ +3.4% vs 2024highest in 5 years
Operating result€716k-€1.14M▲ 59.3%€659k▼ 42.2%€485k▼ 26.4%€569k▲ 17.3%
2021: €716k
2022: €1.14M▲ +59.3% vs 2021highest in 5 years
2023: €659k▼ -42.2% vs 2022
2024: €485k▼ -26.4% vs 2023lowest in 5 years
2025: €569k▲ +17.3% vs 2024
Net result€531k-€854k▲ 60.9%€599k▼ 29.9%€462k▼ 22.8%€485k▲ 5.0%
2021: €531k
2022: €854k▲ +60.9% vs 2021highest in 5 years
2023: €599k▼ -29.9% vs 2022
2024: €462k▼ -22.8% vs 2023lowest in 5 years
2025: €485k▲ +5.0% vs 2024
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 17% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.65M
Fixed assets
€178k ▼ 0.1%
Current assets
€4.47M ▼ 4.0%
Equity and liabilities €4.65M
Equity
€4.35M ▲ 3.4%
Debt
€303k ▼ 52.1%
Debt's share of the balance-sheet total falls from 13.1% to 6.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€634k▲
2024 · €570k
Cash flow
€549k▲
2024 · €547k
Current ratio
15.89▲
2024 · 8.11
Quick ratio
8.04▲
2024 · 4.40
Debt to equity
0.07▼
2024 · 0.15
ROE
11.2%▲
2024 · 11.0%
ROA
10.4%▲
2024 · 9.5%
Interest coverage
21.79▲
2024 · 14.97
Debt ≤ 1 year
€282k▼
2024 · €575k
Debt > 1 year
€22k▼
2024 · €59k
Income taxes
€228k▲
2024 · €154k
Staff costs
€474k▲
2024 · €364k
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 · 57 lines
Balance sheet
Code20242025
Assets
Total assets20/58€4.84M€4.65M▼
Fixed assets21/28€178k€178k▼
Tangible fixed assets22/27€178k€178k▼
Land and buildings22€6k€5k▼
Plant, machinery and equipment23€7k€7k▲
Furniture and vehicles24€165k€166k▲
Current assets29/58€4.66M€4.47M▼
Stocks and contracts in progress3€2.13M€2.21M▲
Stocks30/36€2.13M€2.21M▲
Amounts receivable within one year40/41€933k€722k▼
Trade receivables40€729k€649k▼
Other amounts receivable41€204k€73k▼
Current investments50/53€1.12M€1.22M▲
Cash at bank and in hand54/58€438k€262k▼
Deferred charges and accrued income490/1€43k€65k▲
Equity and liabilities
Total equity and liabilities10/49€4.84M€4.65M▼
Equity10/15€4.21M€4.35M▲
Contributions10/11€134k€134k=
Capital10€134k€134k=
Issued capital100€134k€134k=
Reserves13€4.07M€4.21M▲
Non-distributable reserves130/1€13k€13k=
Legal reserve130€13k€13k=
Distributable reserves133€4.06M€4.20M▲
Amounts payable17/49€633k€303k▼
Amounts payable after more than one year17€59k€22k▼
Financial debts170/4€59k€22k▼
Amounts payable within one year42/48€575k€282k▼
Current portion of amounts payable after more than one year42€64k€37k▼
Trade debts44€70k€112k▲
Suppliers440/4€70k€112k▲
Taxes, remuneration and social security45€56k€108k▲
Taxes450/3€24k€68k▲
Remuneration and social security454/9€33k€40k▲
Other amounts payable47/48€385k€25k▼
Income statement
Code20242025
Non-recurring operating income76A-€18k
Remuneration, social security and pensions62€364k€474k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€85k€64k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-39k€-6k▲
Other operating charges640/8€32k€17k▼
Gross operating margin9900€928k€1.12M▲
Operating profit (loss)9901€485k€569k▲
Financial income75/76B€169k€173k▲
Recurring financial income75€169k€173k▲
Financial charges65/66B€38k€29k▼
Recurring financial charges65€38k€29k▼
Profit (loss) for the period before taxes9903€616k€713k▲
Income taxes67/77€154k€228k▲
Profit (loss) for the period9904€462k€485k▲
Profit (loss) for the period to be appropriated9905€462k€485k▲
Appropriation of the result
Profit (loss) to be appropriated9906€462k€485k▲
Transfer from equity791/2€440k€343k▼
Transfer to equity691/2€462k€485k▲
To other reserves6921€462k€485k▲
Profit to be distributed694/7€440k€343k▼
Return on contributions (dividend)694€440k€343k▼
Social balance
Average headcount (FTE)90875.76.6▲
The notes to these accounts (10 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €18k | - |
| Remuneration, social security and pensions62 | €338k | €365k | €382k | €364k | €474k | ▲ 30.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €173k | €128k | €103k | €85k | €64k | ▼ 24.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €35k | €-24k | €32k | €-39k | €-6k | ▲ 85.2% |
| Other operating charges640/8 | €32k | €50k | €11k | €32k | €17k | ▼ 48.0% |
| Non-recurring operating charges66A | - | - | €30k | - | - | - |
| Gross operating margin9900 | €1.29M | €1.66M | €1.22M | €928k | €1.12M | ▲ 20.6% |
| Operating profit (loss)9901 | €716k | €1.14M | €659k | €485k | €569k | ▲ 17.3% |
| Financial income75/76B | €189k | €193k | €178k | €169k | €173k | ▲ 2.4% |
| Recurring financial income75 | €189k | €193k | €178k | €169k | €173k | ▲ 2.4% |
| Financial charges65/66B | €59k | €83k | €31k | €38k | €29k | ▼ 23.7% |
| Recurring financial charges65 | €59k | €83k | €31k | €38k | €29k | ▼ 23.7% |
| Profit (loss) for the period before taxes9903 | €846k | €1.25M | €806k | €616k | €713k | ▲ 15.8% |
| Income taxes67/77 | €315k | €396k | €207k | €154k | €228k | ▲ 48.2% |
| Profit (loss) for the period9904 | €531k | €854k | €599k | €462k | €485k | ▲ 5.0% |
| Transfer from tax-exempt reserves789 | €112k | - | €75k | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €643k | €854k | €674k | €462k | €485k | ▲ 5.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.73M | €5.32M | €4.93M | €4.84M | €4.65M | ▼ 3.9% |
| Fixed assets21/28 | €288k | €256k | €260k | €178k | €178k | ▼ 0.1% |
| Tangible fixed assets22/27 | €288k | €256k | €260k | €178k | €178k | ▼ 0.1% |
| Land and buildings22 | €130k | €75k | €23k | €6k | €5k | ▼ 26.3% |
| Plant, machinery and equipment23 | €45k | €19k | €13k | €7k | €7k | ▲ 9.5% |
| Furniture and vehicles24 | €112k | €162k | €224k | €165k | €166k | ▲ 0.5% |
| Current assets29/58 | €4.44M | €5.06M | €4.67M | €4.66M | €4.47M | ▼ 4.0% |
| Stocks and contracts in progress3 | €2.23M | €2.66M | €2.32M | €2.13M | €2.21M | ▲ 3.7% |
| Stocks30/36 | €2.23M | €2.66M | €2.32M | €2.13M | €2.21M | ▲ 3.7% |
| Amounts receivable within one year40/41 | €996k | €1.19M | €1.19M | €933k | €722k | ▼ 22.6% |
| Trade receivables40 | €896k | €1.12M | €1.07M | €729k | €649k | ▼ 10.9% |
| Other amounts receivable41 | €100k | €74k | €116k | €204k | €73k | ▼ 64.2% |
| Current investments50/53 | €988k | €897k | €838k | €1.12M | €1.22M | ▲ 8.8% |
| Cash at bank and in hand54/58 | €180k | €247k | €287k | €438k | €262k | ▼ 40.2% |
| Deferred charges and accrued income490/1 | €50k | €62k | €41k | €43k | €65k | ▲ 51.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.73M | €5.32M | €4.93M | €4.84M | €4.65M | ▼ 3.9% |
| Equity10/15 | €2.73M | €3.59M | €4.18M | €4.21M | €4.35M | ▲ 3.4% |
| Contributions10/11 | €134k | €134k | €134k | €134k | €134k | = |
| Capital10 | €134k | €134k | €134k | €134k | €134k | = |
| Issued capital100 | €134k | €134k | €134k | €134k | €134k | = |
| Reserves13 | €2.60M | €3.45M | €4.05M | €4.07M | €4.21M | ▲ 3.5% |
| Non-distributable reserves130/1 | €13k | €13k | €13k | €13k | €13k | = |
| Legal reserve130 | €13k | €13k | €13k | €13k | €13k | = |
| Tax-exempt reserves132 | €75k | €75k | - | - | - | - |
| Distributable reserves133 | €2.51M | €3.36M | €4.04M | €4.06M | €4.20M | ▲ 3.5% |
| Amounts payable17/49 | €2.00M | €1.73M | €743k | €633k | €303k | ▼ 52.1% |
| Amounts payable after more than one year17 | €190k | €240k | €122k | €59k | €22k | ▼ 62.8% |
| Financial debts170/4 | €190k | €240k | €122k | €59k | €22k | ▼ 62.8% |
| Amounts payable within one year42/48 | €1.81M | €1.49M | €621k | €575k | €282k | ▼ 51.0% |
| Current portion of amounts payable after more than one year42 | €80k | €116k | €117k | €64k | €37k | ▼ 42.1% |
| Trade debts44 | €139k | €138k | €50k | €70k | €112k | ▲ 60.9% |
| Suppliers440/4 | €139k | €138k | €50k | €70k | €112k | ▲ 60.9% |
| Taxes, remuneration and social security45 | €122k | €204k | €77k | €56k | €108k | ▲ 91.2% |
| Taxes450/3 | €88k | €178k | €45k | €24k | €68k | ▲ 188% |
| Remuneration and social security454/9 | €34k | €26k | €33k | €33k | €40k | ▲ 21.0% |
| Other amounts payable47/48 | €1.47M | €1.04M | €377k | €385k | €25k | ▼ 93.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €531k | €854k | €599k | €462k | €485k | ▲ 5.0% |
| + Depreciation and write-downs630 | €173k | €128k | €103k | €85k | €64k | ▼ 24.5% |
| Operating cash flow (approximation) | €704k | €982k | €702k | €547k | €549k | ▲ 0.4% |
| Investment in fixed assets (approximation) | - | €-97k | €-107k | €-4k | €-64k | ▼ 1,655% |
| Change in cash | - | €67k | €39k | €151k | €-176k | ▼ 217% |
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
05-08
State Gazette act
Reappointments: Peggy THOEN, Reggy THOEN and Ludwig THOENAppointments: Peggy THOEN (managing director) and Reggy THOEN (managing director) · Power of attorney8 facts ▸
State Gazette act
Reappointments: Peggy THOEN, Reggy THOEN and Ludwig THOEN
Appointments: Peggy THOEN (managing director) and Reggy THOEN (managing director) · Power of attorney8 facts ▸
- General meeting, 23/04/2026
- Director reappointment, Peggy THOEN (bezoldigde bestuurder)
- Director reappointment, Reggy THOEN (bezoldigde bestuurder)
- Director reappointment, Ludwig THOEN (onbezoldigd bestuurder)
- Power of attorney, aternio legal besloten vennootschap
- Board meeting, 23/04/2026
- Director appointment, Peggy THOEN (managing director)
- Director appointment, Reggy THOEN (managing director)
28-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
28-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Liquidity doublescurrent ratio 7.52
Current ratio from 3.39 to 7.52; short-term debt falls from €1.49M to €621k.
06-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €854k ▲60.9%
Operating result €1.14M, net result €854k, both a record.
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
22-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet €443k ▼14.5%
Net result drops to €443k, the lowest in the series; recovery starts the following year.
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
10-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 10 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 5 acts read
About the unread acts
Of the 5 Belgian State Gazette acts we know for this company, 1 has been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26100843). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Ludwig THOEN
CurrentOnbezoldigd bestuurder · since 23-04-2026
Peggy THOEN
CurrentBezoldigde bestuurder · since 23-04-2026
Reggy THOEN
CurrentBezoldigde bestuurder · since 23-04-2026
23-04-2026
Ludwig THOEN: Mandate renewed as Onbezoldigd bestuurder
23-04-2026
Peggy THOEN: Mandate renewed as Bezoldigde bestuurder
23-04-2026
Peggy THOEN: Appointed as Managing director
23-04-2026
Reggy THOEN: Mandate renewed as Bezoldigde bestuurder
23-04-2026
Reggy THOEN: Appointed as Managing director
Not every act has been read: a resignation may be missing here
4 of this company's 5 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Beveren-Kruibeke-Zwijndrecht · 1 establishment unit since 1990
Ground area
1.4 ha
Building footprint
4,187 m²
Volume, LiDAR
29,484 m³
Parcel 46028B0736/00L000, Flanders · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
THOEN
since 19902.047.317.929
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46028B0736/00L000 | Flanders | 1.4 ha | 1 · 4,187 m² | 8.1 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 4,798 EUR awarded · 4,659 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,375 EUR | 1,289 EUR |
| 2024 | 1 | 422 EUR | 369 EUR |
| 2023 | 2 | 1,807 EUR | 1,807 EUR |
| 2022 | 1 | 1,194 EUR | 1,194 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Subsidies ecologisch en veilig transport (stopgezet)
Recognitions · licences · registrations
Legal Entity Identifier
875500H1CI0HPRXPZ218
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Identification & contact
Identification
Legal formPublic limited company
Founded27-12-1989
Fiscal year end31-12
Activities, NACEBEL 2025
46842Wholesale trade
47521Retail sale of hardware, building materials, paint and glass (general range)
Scores and ratios are computed by Checked and are not a credit decision.