THOR
ActiveTHOR has been active since 1982 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €100k and a net result of €24k. Equity is shrinking by ~12.9% per year across the filed fiscal years. Its solvency ranks better than 78% of 1026 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
83
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability90▲+11
Solvency96▼-4
Growth58=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity short (current ratio 0.68 against 0.86 in 2024; short-term debt: 28.6% and cash: 19% of total assets), and 28.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Sector 25
higher
← fewer bankruptcies
more bankruptcies →
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
71.4%
Return on assets
17.1%
Age of the figures
9 mo
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 11-06-2026, 50 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
50 d early
2024
59 d early
2023
63 d early
2022
48 d early
2021
24 d early
2020
29 d early
2019
29 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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€190k
EBIT margin
3.8%
Net result
€24k▲ 97.5%
2024 · €12k
2018: €4k
2019: €-26k
2020: €-32k
2021: €2k
2022: €15k
2023: €15k
2024: €12k
2018 → 2025
Working capital
€-13k▼ 153%
2024 · €-5k
2018: €164k
2019: €135k
2020: €99k
2021: €97k
2022: €4k
2023: €14k
2024: €-5k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€199k-€114k▼ 42.8%€129k▲ 13.1%€111k▼ 13.9%€100k▼ 10.0%
Operating result€5k-€15k▲ 199%€16k▲ 0.9%€12k▼ 20.2%€28k▲ 123%
Net result€2k-€15k▲ 593%€15k▲ 1.1%€12k▼ 18.8%€24k▲ 97.5%
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 123% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €140k
Fixed assets
€113k▼ 2.9%
Current assets
€27k▼ 11.3%
Equity and liabilities €140k
Equity
€100k▼ 10.0%
Debt
€40k▲ 11.6%
The debt ratio rises from 24.4% to 28.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€31k▲
2024 · €16k
Cash flow
€27k▲
2024 · €16k
Solvency
71.4%▼
2024 · 75.6%
Current ratio
0.68▼
2024 · 0.86
Quick ratio
0.68▼
2024 · 0.86
Debt / equity
0.40▲
2024 · 0.32
ROE
23.9%▲
2024 · 10.9%
ROA
17.1%▲
2024 · 8.2%
Interest coverage
276.14▲
2024 · 52.24
Debt
€40k▲
2024 · €36k
Debt ≤ 1 year
€40k▲
2024 · €36k
Income taxes
€4k
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€147k€140k▼
Fixed assets21/28€116k€113k▼
Tangible fixed assets22/27€116k€113k▼
Land and buildings22€116k€113k▼
Current assets29/58€31k€27k▼
Amounts receivable within one year40/41€8k€610▼
Trade receivables40€5k€279▼
Other amounts receivable41€3k€331▼
Cash at bank and in hand54/58€22k€27k▲
Deferred charges and accrued income490/1€179€187▲
Equity and liabilities
Total equity and liabilities10/49€147k€140k▼
Equity10/15€111k€100k▼
Contributions10/11€31k€31k=
Reserves13€3k€3k=
Distributable reserves133€3k€3k=
Profit (loss) carried forward14€77k€66k▼
Amounts payable17/49€36k€40k▲
Amounts payable within one year42/48€36k€40k▲
Current portion of amounts payable after more than one year42€4k-
Trade debts44-€698
Suppliers440/4-€698
Taxes, remuneration and social security45€3k€5k▲
Taxes450/3€3k€5k▲
Other amounts payable47/48€29k€34k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€3k=
Other operating charges640/8€10k€12k▲
Gross operating margin9900€26k€43k▲
Operating profit (loss)9901€12k€28k▲
Financial charges65/66B€303€113▼
Recurring financial charges65€303€113▼
Profit (loss) for the period before taxes9903€12k€28k▲
Income taxes67/77-€4k
Profit (loss) for the period9904€12k€24k▲
Profit (loss) for the period to be appropriated9905€12k€24k▲
Appropriation of the result
Profit (loss) to be appropriated9906€107k€101k▼
Profit (loss) brought forward from the previous period14P€95k€77k▼
Profit to be distributed694/7€30k€35k▲
Return on contributions (dividend)694€30k€35k▲
The notes to these accounts (4 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
11-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €24k ▲97.5%
Operating result €28k, net result €24k, both a record.
02-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
29-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
07-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €2k
Net result €2k after 2 loss-making years.
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €-32k
Net result drops to €-32k, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
02-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 2 days late
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
24-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated 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, Sint-Niklaas · 1 establishment unit since 1982
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.
Europark-Oost 139100 Sint-NiklaasGround area
3,980 m²
Building footprint
1,897 m²
Volume, LiDAR
12,636 m³
Parcel 46442C0449/00C000, Flanders · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
THOR
since 19822.020.072.510
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46442C0449/00C000 | Flanders | 3,980 m² | 1 · 1,897 m² | 8.1 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.
Similar companies · same sector, comparable size
MAENE L.
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Tim Claus
BE 0795.105.634
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Fonte-Fer-Art
BE 0840.508.166
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LTD Services
BE 0440.019.417
Hamois · Eq €102k
IMPLUVIA & IGNOFOR
BE 0524.781.183
Londerzeel · Eq €102k
Of 984 companies in sector 25401 we hold annual accounts for 407. 322 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded01-01-1982
Fiscal year end31-12
Activities, NACEBEL
25401Forging of metal
47521Retail sale of hardware, building materials, paint and glass (general range)
52461
Sources
Crossroads Bank for EnterprisesNational Bank · 43 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.