THONON FRERES
ActiveTHONON FRERES has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €618k and a net result of €175k. Equity is growing by ~27.7% per year across the filed fiscal years. Its solvency ranks better than 55% of 4827 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
84
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability86▲+9
Solvency75▲+11
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days acceptable
Liquidity ample (current ratio 2.13 against 1.52 in 2024; short-term debt: 32.3% and cash: 42.4% of total assets), but 50.2% 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
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
49.8%
Return on assets
14.1%
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
Sector 46
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
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 08-06-2026, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2024
28 d late
2023
26 d late
2022
31 d late
2021
11 d late
2020
22 d early
2019
61 d late
← 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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€175k▲ 119%
2024 · €80k
2018: €25k
2019: €56k
2020: €68k
2021: €65k
2022: €125k
2023: €55k
2024: €80k
2018 → 2025
Working capital
€451k▲ 104%
2024 · €221k
2018: €70k
2019: €88k
2020: €96k
2021: €17k
2022: €-24k
2023: €120k
2024: €221k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€230k-€344k▲ 49.2%€387k▲ 12.5%€455k▲ 17.6%€618k▲ 35.9%
Operating result€87k-€154k▲ 76.3%€98k▼ 36.0%€141k▲ 43.1%€280k▲ 99.3%
Net result€65k-€125k▲ 93.9%€55k▼ 56.1%€80k▲ 45.3%€175k▲ 119%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 99% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.24M
Fixed assets
€388k▼ 27.4%
Current assets
€852k▲ 32.6%
Equity and liabilities €1.24M
Equity
€618k▲ 35.9%
Debt
€623k▼ 13.9%
The debt ratio falls from 61.4% to 50.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€389k▲
2024 · €284k
Cash flow
€284k▲
2024 · €224k
Solvency
49.8%▲
2024 · 38.6%
Current ratio
2.13▲
2024 · 1.52
Quick ratio
1.98▲
2024 · 1.46
Debt / equity
1.01▼
2024 · 1.59
ROE
28.4%▲
2024 · 17.6%
ROA
14.1%▲
2024 · 6.8%
Interest coverage
19.47▲
2024 · 11.26
Debt
€623k▼
2024 · €723k
Debt ≤ 1 year
€401k▼
2024 · €421k
Debt > 1 year
€216k▼
2024 · €297k
Income taxes
€85k▲
2024 · €36k
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€1.18M€1.24M▲
Fixed assets21/28€535k€388k▼
Tangible fixed assets22/27€535k€388k▼
Land and buildings22€315k€291k▼
Plant, machinery and equipment23€9k€5k▼
Furniture and vehicles24€108k€31k▼
Leasing and similar rights25€103k€62k▼
Financial fixed assets28€135€135=
Current assets29/58€642k€852k▲
Stocks and contracts in progress3€26k€60k▲
Stocks30/36€26k€60k▲
Amounts receivable within one year40/41€320k€265k▼
Trade receivables40€301k€210k▼
Other amounts receivable41€19k€55k▲
Cash at bank and in hand54/58€288k€526k▲
Deferred charges and accrued income490/1€8k€833▼
Equity and liabilities
Total equity and liabilities10/49€1.18M€1.24M▲
Equity10/15€455k€618k▲
Contributions10/11€30k€30k=
Outside capital11€30k€30k=
Other1109/19€30k€30k=
Reserves13€401k€576k▲
Non-distributable reserves130/1€3k€3k=
Reserves not available under the articles1311€3k€3k=
Distributable reserves133€398k€573k▲
Profit (loss) carried forward14€24k€12k▼
Amounts payable17/49€723k€623k▼
Amounts payable after more than one year17€297k€216k▼
Financial debts170/4€297k€216k▼
Amounts payable within one year42/48€421k€401k▼
Current portion of amounts payable after more than one year42€112k€89k▼
Financial debts43€100k€100k=
Credit institutions430/8€100k€100k=
Trade debts44€64k€27k▼
Suppliers440/4€64k€27k▼
Taxes, remuneration and social security45€10k€28k▲
Taxes450/3€10k€28k▲
Other amounts payable47/48€135k€156k▲
Accrued charges and deferred income492/3€5k€6k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€144k€109k▼
Other operating charges640/8€6k€8k▲
Gross operating margin9900€290k€397k▲
Operating profit (loss)9901€141k€280k▲
Financial income75/76B€202€145▼
Recurring financial income75€202€145▼
Financial charges65/66B€25k€20k▼
Recurring financial charges65€25k€20k▼
Profit (loss) for the period before taxes9903€116k€260k▲
Income taxes67/77€36k€85k▲
Profit (loss) for the period9904€80k€175k▲
Profit (loss) for the period to be appropriated9905€80k€175k▲
Appropriation of the result
Profit (loss) to be appropriated9906€116k€199k▲
Profit (loss) brought forward from the previous period14P€36k€24k▼
Transfer to equity691/2€80k€175k▲
To other reserves6921€80k€175k▲
Profit to be distributed694/7€12k€12k=
Return on contributions (dividend)694€12k€12k=
The notes to these accounts (8 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
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €175k ▲119%
Operating result €280k, net result €175k, both a record.
31-12
Financial
Equity above €500kEq €618k ▲35.9%
8 profitable years in a row build equity to €618k.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 28 days late
2024
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 26 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
11-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 11 days late
2021
31-12
Financial
Equity above €200kEq €230k ▲29.6%
4 profitable years in a row build equity to €230k.
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €150kEq €178k ▲31%
3 profitable years in a row build equity to €178k.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
13-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 13 days late
2017
21-06
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.
Directors · office · real estate
Directors
2 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, Ferrières · 1 establishment unit since 2014
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.
Rue de Comblain 464190 FerrièresGround area
141 m²
Building footprint
160 m²
Volume, LiDAR
755 m³
Parcel 61077A0110/00D000, Wallonia · tallest building 7.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue de Comblain 46, 4190 Ferrières
since 20142.225.540.284
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 61077A0110/00D000 | Wallonia | 141 m² | 1 · 160 m² | 7.3 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteFerrières2.225.540.284
Similar companies · same sector, comparable size
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DEPOORTERE
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K.I. SAMEN BELGIE
BE 0450.330.022
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EURO BEL BEEF
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Of 946 companies in sector 46231 we hold annual accounts for 422. 331 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded18-12-2013
Fiscal year end31-12
Activities, NACEBEL
46231Wholesale of live animals
01450Raising of sheep and goats
49410Freight transport by road
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
Sources
Crossroads Bank for EnterprisesNational Bank · 12 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.