THOMAS MITSIS POLYTECHNIQUE
ActiveSummary
THOMAS MITSIS POLYTECHNIQUE has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €80,483 and a net result of €61,979. Equity is growing by ~50.4% per year across the filed fiscal years. Its solvency ranks better than 59% of 9973 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+10
Solvency75▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity ample (current ratio 1.82 against 1.95 in 2023; short-term debt: 45.4% and cash: 36.7% of total assets), and 49.7% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+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 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-10-2025, 85 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 · 8 filingsDeviation from the deadline
2025
not confirmed
2024
85 d late
2023
153 d late
2022
150 d late
2021
31 d late
2020
151 d late
2019
92 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 110 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€61,979▲ 277%
2023 · €16,447
Working capital
€59,478▲ 70.3%
2023 · €34,936
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€12,947€53,970-€12,372€21,648€82,554▲ 281%
Net result-€15,205below the sector's middle half€38,130within the sector's middle half-€13,739below the sector's middle half€16,447within the sector's middle half€61,979above the sector's middle half▲ 277%
Equity-€534below the sector's middle half€37,596below the sector's middle half€23,857below the sector's middle half▼ 36.5%€48,504within the sector's middle half▲ 103%€80,483within the sector's middle half▲ 65.9%
Total assets€45,829below the sector's middle half▼ 10.5%€67,533below the sector's middle half▲ 47.4%€100,022below the sector's middle half▲ 48.1%€98,434within the sector's middle half▼ 1.6%€160,083within the sector's middle half▲ 62.6%
Debt€46,363▲ 26.9%€29,937▼ 35.4%€76,165▲ 154%€49,930▼ 34.4%€79,600▲ 59.4%
Working capital-€5,121below the sector's middle half€29,644within the sector's middle half€15,672below the sector's middle half▼ 47.1%€34,936within the sector's middle half▲ 123%€59,478within the sector's middle half▲ 70.3%
Solvency-1.2%below the sector's middle half▼ 29.8pp55.7%above the sector's middle half▲ 56.8pp23.9%within the sector's middle half▼ 31.8pp49.3%within the sector's middle half▲ 25.4pp50.3%within the sector's middle half▲ 1.0pp
Current ratio0.89below the sector's middle half▼ 0.501.99within the sector's middle half▲ 1.111.31within the sector's middle half▼ 0.691.95within the sector's middle half▲ 0.651.82within the sector's middle half▼ 0.14
Return on assets (ROA)-33.2%below the sector's middle half▼ 56.7pp56.5%above the sector's middle half▲ 89.6pp-13.7%below the sector's middle half▼ 70.2pp16.7%within the sector's middle half▲ 30.4pp38.7%above the sector's middle half▲ 22.0pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 281% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €160,083
Fixed assets
€27,971 ▲ 4.1%
Current assets
€132,112 ▲ 84.6%
Equity and liabilities €160,083
Equity
€80,483 ▲ 65.9%
Debt
€79,600 ▲ 59.4%
Debt's share of the balance-sheet total falls from 50.7% to 49.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€90,706▲
2023 · €30,118
Cash flow
€70,131▲
2023 · €24,917
Debt to equity
0.99▼
2023 · 1.03
ROE
77.0%▲
2023 · 33.9%
Interest coverage
49.03▲
2023 · 13.23
Debt ≤ 1 year
€72,634▲
2023 · €36,622
Debt > 1 year
€6,799▼
2023 · €13,227
Income taxes
€18,903▲
2023 · €7,124
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,975 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 26,975 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,858 | €2,056 | €3,007 | €8,470 | €8,153 | ▼ 3.7% |
| Other operating charges640/8 | - | €1,630 | €1,383 | €2,004 | €1,150 | ▼ 42.6% |
| Gross operating margin9900 | -€9,968 | €57,657 | -€7,982 | €32,122 | €91,857 | ▲ 186% |
| Operating profit (loss)9901 | -€12,947 | €53,970 | -€12,372 | €21,648 | €82,554 | ▲ 281% |
| Financial income75/76B | - | €23 | €600 | €4,199 | €178 | ▼ 95.8% |
| Recurring financial income75 | €30 | €23 | €600 | €4,199 | €178 | ▼ 95.8% |
| Financial charges65/66B | - | €2,795 | €2,000 | €2,276 | €1,850 | ▼ 18.7% |
| Recurring financial charges65 | €1,631 | €2,795 | €2,000 | €2,276 | €1,850 | ▼ 18.7% |
| Profit (loss) for the period before taxes9903 | -€14,548 | €51,198 | -€13,772 | €23,571 | €80,881 | ▲ 243% |
| Income taxes67/77 | €657 | €13,068 | -€33 | €7,124 | €18,903 | ▲ 165% |
| Profit (loss) for the period9904 | -€15,205 | €38,130 | -€13,739 | €16,447 | €61,979 | ▲ 277% |
| Profit (loss) for the period to be appropriated9905 | -€15,205 | €38,130 | -€13,739 | €16,447 | €61,979 | ▲ 277% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €45,829 | €67,533 | €100,022 | €98,434 | €160,083 | ▲ 62.6% |
| Fixed assets21/28 | €5,752 | €8,028 | €33,257 | €26,877 | €27,971 | ▲ 4.1% |
| Tangible fixed assets22/27 | €5,553 | €8,028 | €33,257 | €26,877 | €27,971 | ▲ 4.1% |
| Plant, machinery and equipment23 | - | €4,400 | €4,868 | €3,953 | - | - |
| Furniture and vehicles24 | - | €3,628 | €28,390 | €22,924 | €27,971 | ▲ 22.0% |
| Financial fixed assets28 | €199 | - | - | - | - | - |
| Current assets29/58 | €40,078 | €59,505 | €66,765 | €71,557 | €132,112 | ▲ 84.6% |
| Amounts receivable within one year40/41 | €39,899 | €29,398 | €49,057 | €65,265 | €72,580 | ▲ 11.2% |
| Trade receivables40 | - | €24,687 | €25,142 | €21,706 | €17,032 | ▼ 21.5% |
| Other amounts receivable41 | - | €4,711 | €23,915 | €43,559 | €55,548 | ▲ 27.5% |
| Cash at bank and in hand54/58 | €178 | €29,069 | €15,279 | €5,660 | €58,717 | ▲ 937% |
| Deferred charges and accrued income490/1 | - | €1,039 | €2,429 | €632 | €815 | ▲ 29.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €45,829 | €67,533 | €100,022 | €98,434 | €160,083 | ▲ 62.6% |
| Equity10/15 | -€534 | €37,596 | €23,857 | €48,504 | €80,483 | ▲ 65.9% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €8,471 | €8,471 | €31,396 | €42,304 | €74,283 | ▲ 75.6% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €6,611 | €29,536 | €40,444 | €72,423 | ▲ 79.1% |
| Profit (loss) carried forward14 | -€15,205 | €22,925 | -€13,739 | - | - | - |
| Amounts payable17/49 | €46,363 | €29,937 | €76,165 | €49,930 | €79,600 | ▲ 59.4% |
| Amounts payable after more than one year17 | €485 | - | €25,000 | €13,227 | €6,799 | ▼ 48.6% |
| Financial debts170/4 | - | - | €25,000 | €13,227 | €6,799 | ▼ 48.6% |
| Amounts payable within one year42/48 | €45,199 | €29,861 | €51,092 | €36,622 | €72,634 | ▲ 98.3% |
| Current portion of amounts payable after more than one year42 | - | €485 | - | €6,060 | €6,427 | ▲ 6.1% |
| Trade debts44 | €19,539 | €15,405 | €33,458 | €23,295 | €7,992 | ▼ 65.7% |
| Suppliers440/4 | - | €15,405 | €33,458 | €23,295 | €7,992 | ▼ 65.7% |
| Taxes, remuneration and social security45 | - | €13,743 | €17,634 | €7,266 | €28,214 | ▲ 288% |
| Taxes450/3 | - | €13,743 | €17,634 | €7,266 | €28,214 | ▲ 288% |
| Other amounts payable47/48 | - | €228 | - | - | €30,000 | - |
| Accrued charges and deferred income492/3 | - | €76 | €73 | €82 | €167 | ▲ 104% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€15,205 | €38,130 | -€13,739 | €16,447 | €61,979 | ▲ 277% |
| + Depreciation and write-downs630 | €1,858 | €2,056 | €3,007 | €8,470 | €8,153 | ▼ 3.7% |
| Operating cash flow (approximation) | -€13,346 | €40,186 | -€10,732 | €24,917 | €70,131 | ▲ 181% |
| Investment in fixed assets (approximation) | - | -€4,332 | -€28,237 | -€2,090 | -€9,247 | ▼ 342% |
| Change in cash | - | €28,891 | -€13,790 | -€9,619 | €53,057 | ▲ 652% |
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
2025
24-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 85 days late
2024
31-12
Financial
Highest result since 2018net €61,979 ▲277%
Operating result €82,554, net result €61,979, both a record.
31-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 153 days late
2023
31-12
Financial
Back to profitnet €16,447
Net result €16,447 after one loss-making year.
28-12
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 150 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-12
Financial
Back to profitnet €38,130
Net result €38,130 after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 1.99
Current ratio from 0.89 to 1.99; short-term debt falls from €45,199 to €29,861.
29-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 151 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 92 days late
2019
31-12
Financial
Back to profitnet €12,033
Net result €12,033 after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 1.39
Current ratio from 0.54 to 1.39.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
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, Zaventem · 2 establishment units since 2016
Ground area
6,505 m²
Building footprint
583 m²
Volume, LiDAR
2,857 m³
2 parcels, Flanders, Wallonia · tallest building 7.1 m, ±2 floors. Linked by address, not a title deed.
24
companies at this address
See who is registered here
2 establishment units
THOMAS MITSIS POLYTECHNIQUE
since 20162.258.877.404
THOMAS MITSIS POLYTECHNIQUE
since 20222.336.727.228
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52020A0605/00A000 | Wallonia | 3,833 m² | 1 · 140 m² | - |
| 23772C0263/00A000 | Flanders | 2,672 m² | 1 · 443 m² | 7.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
12 categoriesTHOMAS MITSIS POLYTECHNIQUE BV38345
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Of 29,786 companies in sector 41001 we hold annual accounts for 16,061. 13,209 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
Founded23-11-2016
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43211General electrical installation work
43212Electrical installation work in industrial facilities
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
43310Plastering work
43320Joinery installation
43331Floor and wall tiling
43332Laying of wooden floor and wall coverings
43350Other building finishing work
43410Roofing work
43422Screed work
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0666597262
Also
9925:BE0666597262
Registered
26-03-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.