Thornhill Systems
ActiveThornhill Systems has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €52k and a net result of €12k. Equity is growing by ~4.8% per year across the filed fiscal years. Its solvency ranks better than 50% of 16935 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
100
/ 100
Excellent▲ +6 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency98▲+11
Growth78=
Stability100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity ample (current ratio 2.48 against 1.68 in 2024), and 39.9% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Sector 62
lower
← 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
60.1%
Return on assets
13.4%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 10-12-2025, 52 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
52 d early
2024
59 d early
2023
19 d early
2022
4 d early
2021
49 d early
2020
2 d late
2019
80 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close16-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€52k▲ 28.8%
2024 · €40k
2019: €32k
2020: €34k
2021: €31k
2022: €30k
2023: €31k
2024: €40k
2019 → 2025
Total assets
€87k▲ 5.2%
2024 · €82k
2019: €56k
2020: €70k
2021: €66k
2022: €65k
2023: €67k
2024: €82k
2019 → 2025
Net result
€12k▲ 26.6%
2024 · €9k
2019: €-211
2020: €2k
2021: €-3k
2022: €-507
2023: €1k
2024: €9k
2019 → 2025
Working capital
€48k▲ 74.2%
2024 · €28k
2019: €32k
2020: €34k
2021: €-409
2022: €6k
2023: €15k
2024: €28k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€31k-€30k▼ 1.7%€31k▲ 3.7%€40k▲ 29.4%€52k▲ 28.8%
Operating result€-3k-€-230▲ 91.2%€1k€15k▲ 1,011%€15k▼ 1.0%
Net result€-3k-€-507▲ 82.6%€1k€9k▲ 723%€12k▲ 26.6%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 1% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €87k
Fixed assets
€5k▼ 60.7%
Current assets
€81k▲ 18.4%
Equity and liabilities €87k
Equity
€52k▲ 28.8%
Debt
€35k▼ 17.5%
The debt ratio falls from 50.9% to 39.9%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€24k▲
2024 · €23k
Cash flow
€21k▲
2024 · €17k
Solvency
60.1%▲
2024 · 49.1%
Current ratio
2.48▲
2024 · 1.68
Quick ratio
2.48▲
2024 · 1.68
Debt / equity
0.66▼
2024 · 1.04
ROE
22.3%▼
2024 · 22.7%
ROA
13.4%▲
2024 · 11.2%
Interest coverage
12.58▼
2024 · 19.73
Debt
€35k▼
2024 · €42k
Debt ≤ 1 year
€33k▼
2024 · €41k
Income taxes
€1k▼
2024 · €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€82k€87k▲
Fixed assets21/28€14k€5k▼
Tangible fixed assets22/27€14k€5k▼
Plant, machinery and equipment23€757€491▼
Furniture and vehicles24€13k€5k▼
Current assets29/58€69k€81k▲
Amounts receivable within one year40/41€11k€33▼
Trade receivables40€8k€33▼
Other amounts receivable41€3k€0▼
Cash at bank and in hand54/58€57k€77k▲
Deferred charges and accrued income490/1€2k€4k▲
Equity and liabilities
Total equity and liabilities10/49€82k€87k▲
Equity10/15€40k€52k▲
Contributions10/11€19k€19k=
Reserves13€6k€6k=
Distributable reserves133€6k€6k=
Profit (loss) carried forward14€16k€27k▲
Amounts payable17/49€42k€35k▼
Amounts payable within one year42/48€41k€33k▼
Trade debts44€8k€4k▼
Suppliers440/4€8k€4k▼
Taxes, remuneration and social security45€4k€2k▼
Taxes450/3€4k€2k▼
Other amounts payable47/48€29k€28k▼
Accrued charges and deferred income492/3€1k€2k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€9k▲
Other operating charges640/8€929€954▲
Non-recurring operating charges66A€411€0▼
Gross operating margin9900€24k€25k▲
Operating profit (loss)9901€15k€15k▼
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€1k€2k▲
Recurring financial charges65€1k€2k▲
Profit (loss) for the period before taxes9903€14k€13k▼
Income taxes67/77€4k€1k▼
Profit (loss) for the period9904€9k€12k▲
Profit (loss) for the period to be appropriated9905€9k€12k▲
Appropriation of the result
Profit (loss) to be appropriated9906€16k€27k▲
Profit (loss) brought forward from the previous period14P€6k€16k▲
The notes to these accounts (5 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
2025
10-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Highest result since 2019net €12k ▲26.6%
Net result €12k, the highest in the series.
2024
03-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
12-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Back to profitnet €1k
Net result €1k after 2 loss-making years.
27-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
13-12
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
30-06
Financial
Weakest financial yearnet €-3k ▼282%
Net result drops to €-3k, the lowest in the series; recovery starts the following year.
2020
02-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 2 days late
31-01
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
2019
12-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
10-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 10 days late
2017
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 26 days late
2016
23-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 23 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Aarschot · 1 establishment unit since 1992
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.
Langdorpsesteenweg 208a3201 AarschotGround area
3,229 m²
Building footprint
433 m²
Volume, LiDAR
1,695 m³
2 parcels, Flanders · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Langdorpsesteenweg 208, 3201 Aarschot
since 19922.058.079.583
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24652E0045/00G000 | Flanders | 1,955 m² | 1 · 251 m² | 5.1 m · 1 fl. |
| 24652E0045/00N000 | Flanders | 1,274 m² | 1 · 182 m² | 8.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 29,889 companies in sector 62200 we hold annual accounts for 18,319. 15,260 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded11-03-1992
Fiscal year end30-06
Abbreviation NL
THS
Activities, NACEBEL
62020IT consultancy
62200Computer consultancy and computer facilities management
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 32 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.