THRUST
Annual accounts 2025
micro format, filed on 13-07-2026, 18 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €170,000. Estimated: probably between €140,000 and €220,000.
Balance sheet
balance sheet total €191,410 on 31-12-2025in euro
in euro
Position in the sector
75.6%
Higher than 69% of 21,205 companies in 2025.
3.84
Higher than 67% of 20,568 companies in 2025.
23.1%
Higher than 58% of 20,743 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: top quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||
20/58 |
191,410 | 156,975 | 150,411 | 182,578 | 166,592 | 115,841 | 121,110 | 123,769 | 134,071 | |
21/28 |
18,347 | 27,714 | 40,076 | 31,014 | 38,686 | 18,992 | 18,231 | 8,265 | 11,019 | |
22/27 |
18,347 | 27,714 | 40,076 | 31,014 | 38,686 | 18,992 | 18,231 | 8,265 | 11,019 | |
22 |
- | - | 0 | 623 | 1,964 | 3,304 | 4,645 | 5,985 | 7,326 | |
23 |
1,750 | - | - | - | - | - | - | - | - | |
24 |
16,597 | 27,714 | 40,076 | 30,390 | 36,722 | 15,688 | 13,586 | 2,280 | 3,693 | |
29/58 |
173,063 | 129,261 | 110,335 | 151,564 | 127,906 | 96,849 | 102,879 | 115,503 | 123,051 | |
40/41 |
96,495 | 92,638 | 92,634 | 112,529 | 90,815 | 78,863 | 90,162 | 86,562 | 56,631 | |
40 |
96,495 | 92,623 | 92,557 | 79,225 | 39,341 | 26,640 | 39,519 | 25,312 | 32,089 | |
41 |
0 | 15 | 76 | 33,303 | 51,474 | 52,223 | 50,644 | 61,250 | 24,542 | |
54/58 |
51,285 | 35,260 | 17,702 | 37,495 | 34,747 | 13,844 | 7,816 | 22,762 | 66,420 | |
490/1 |
25,283 | 1,363 | 0 | 1,540 | 2,344 | 4,142 | 4,901 | 6,179 | - | |
| Balance sheet: equity and liabilities | ||||||||||
10/49 |
191,410 | 156,975 | 150,411 | 182,578 | 166,592 | 115,841 | 121,110 | 123,769 | 134,071 | |
10/15 |
144,664 | 111,588 | 84,745 | 128,766 | 114,953 | 109,951 | 97,999 | 86,811 | 77,222 | |
10/11 |
300 | 300 | 300 | 18,550 | 18,550 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | |
13 |
144,364 | 111,288 | 84,445 | 110,216 | 96,403 | 91,351 | 79,399 | 68,211 | 58,622 | |
130/1 |
- | - | 0 | 1,860 | 1,860 | 1,860 | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | - | - | - | 1,860 | - | - | - | |
1319 |
- | - | 0 | 1,860 | 1,860 | - | - | - | - | |
133 |
144,364 | 111,288 | 84,445 | 108,356 | 94,543 | 89,491 | 77,539 | 66,351 | 56,762 | |
14 |
0 | 0 | 0 | 0 | - | - | - | - | - | |
17/49 |
46,747 | 45,388 | 65,665 | 53,812 | 51,639 | 5,890 | 23,111 | 36,958 | 56,849 | |
17 |
0 | 3,211 | 6,555 | 0 | 4,210 | - | - | - | - | |
170/4 |
0 | 3,211 | 6,555 | 0 | 4,210 | - | - | - | - | |
42/48 |
45,097 | 42,177 | 59,110 | 44,858 | 38,128 | 5,458 | 21,481 | 36,958 | 56,249 | |
42 |
3,211 | 3,344 | 3,185 | 4,210 | 6,234 | - | - | - | - | |
43 |
3,364 | - | - | - | - | - | - | - | - | |
430/8 |
3,364 | - | - | - | - | - | - | - | - | |
44 |
13,304 | 6,321 | 10,870 | 2,223 | 13,651 | 2,500 | 3,184 | 3,161 | 1,394 | |
440/4 |
13,304 | 6,321 | 10,870 | 2,223 | 13,651 | 2,500 | 3,184 | 3,161 | 1,394 | |
45 |
14,209 | 13,967 | 10,962 | 24,812 | 18,242 | 2,958 | 18,297 | 33,797 | 54,854 | |
450/3 |
14,209 | 13,967 | 10,962 | 20,631 | 14,079 | 332 | 8,045 | 29,781 | 54,854 | |
454/9 |
- | - | 0 | 4,182 | 4,163 | 2,626 | 10,252 | 4,016 | - | |
47/48 |
11,008 | 18,544 | 34,093 | 13,612 | - | - | - | - | - | |
492/3 |
1,650 | - | 0 | 8,954 | 9,301 | 432 | 1,630 | - | 600 | |
| Income statement | ||||||||||
76A |
16,510 | - | - | - | - | - | - | - | - | |
9900 |
72,943 | 72,623 | 44,440 | 55,146 | 17,885 | 25,114 | 25,018 | 21,697 | 78,114 | |
630 |
8,533 | 14,577 | 11,837 | 12,324 | 6,665 | 4,513 | 4,345 | 4,176 | 3,702 | |
640/8 |
970 | 1,969 | 1,672 | 1,510 | 1,422 | 1,537 | 1,631 | 2,602 | 600 | |
66A |
0 | - | - | - | - | - | - | - | - | |
9901 |
63,440 | 56,077 | 30,930 | 41,312 | 9,798 | 19,064 | 19,041 | 14,919 | 73,811 | |
75/76B |
0 | 17 | 649 | 2,451 | 2,417 | 3,467 | 2,954 | 2,988 | 1,121 | |
75 |
0 | 17 | 649 | 2,451 | 2,417 | 3,467 | 2,954 | 2,988 | 1,121 | |
65/66B |
683 | 1,851 | 1,038 | 1,324 | 2,176 | 2,779 | 3,190 | 2,153 | 1,977 | |
65 |
683 | 600 | 1,038 | 1,324 | 2,176 | 2,779 | 3,190 | 2,153 | 1,977 | |
66B |
- | 1,251 | - | - | - | - | - | - | - | |
9903 |
62,758 | 54,243 | 30,540 | 42,440 | 10,040 | 19,752 | 18,806 | 15,753 | 72,955 | |
67/77 |
18,493 | 17,812 | 11,967 | 14,299 | 5,038 | 7,800 | 7,618 | 6,164 | 28,642 | |
9904 |
44,264 | 36,431 | 18,573 | 28,141 | 5,002 | 11,952 | 11,188 | 9,589 | 44,313 | |
9905 |
44,264 | 36,431 | 18,573 | 28,141 | 5,002 | 11,952 | 11,188 | 9,589 | 44,313 | |
| Appropriation of the result | ||||||||||
9906 |
44,264 | 36,431 | 18,573 | 28,141 | 5,002 | 11,952 | 11,188 | 9,589 | 44,313 | |
791/2 |
11,188 | 9,589 | 62,593 | 14,329 | - | - | - | - | - | |
691/2 |
44,264 | 36,431 | 18,573 | 28,141 | 5,002 | 11,952 | 11,188 | 9,589 | 44,313 | |
6920 |
- | - | - | - | - | - | - | - | 1,830 | |
6921 |
44,264 | 36,431 | 18,573 | 28,141 | 5,002 | 11,952 | 11,188 | 9,589 | 42,483 | |
694/7 |
11,188 | 9,589 | 62,593 | 14,329 | - | - | - | - | - | |
694 |
11,188 | 9,589 | 62,593 | 14,329 | - | - | - | - | - | |
| Document | ||||||||||
The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 13-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 13-07-2026 | 2026-00288720 | |
| 31-12-2024 | micro format | 01-07-2025 | 2025-00209285 | |
| 31-12-2023 | micro format | 28-05-2024 | 2024-00100409 | |
| 31-12-2022 | micro format | 13-04-2023 | 2023-00060070 | |
| 31-12-2021 | micro format | 13-04-2022 | 2022-20004493 | |
| 31-12-2020 | micro format | 30-07-2021 | 2021-44400429 | |
| 31-12-2019 | micro format | 30-10-2020 | 2020-66900315 | |
| 31-12-2018 | micro format | 31-07-2019 | 2019-41600223 | |
| 31-12-2017 | micro format | 30-07-2018 | 2018-40900149 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| 71,973 | 70,653 | 42,767 | 53,636 | 16,463 | 23,577 | 23,386 | 19,096 | 77,514 | ||
| 52,797 | 51,008 | 30,410 | 40,465 | 11,667 | 16,465 | 15,533 | 13,765 | 48,015 | ||
| 3,287 | 3,466 | 20,899 | 4,651 | 26,359 | 5,274 | 14,311 | 1,423 | 3,296 | ||
| 16,025 | 17,558 | -19,793 | 2,748 | 20,903 | 6,028 | -14,946 | -43,658 | - | ||
| 127,967 | 87,084 | 51,225 | 106,706 | 89,778 | 91,391 | 81,397 | 78,545 | 66,803 | ||
| 75.6% | 71.1% | 56.3% | 70.5% | 69.0% | 94.9% | 80.9% | 70.1% | 57.6% | ||
| 3.84 | 3.06 | 1.87 | 3.38 | 3.35 | 17.74 | 4.79 | 3.13 | 2.19 | ||
| 0.32 | 0.41 | 0.77 | 0.42 | 0.45 | 0.05 | 0.24 | 0.43 | 0.74 | ||
| 30.6% | 32.6% | 21.9% | 21.9% | 4.4% | 10.9% | 11.4% | 11.0% | 57.4% | ||
| 23.1% | 23.2% | 12.3% | 15.4% | 3.0% | 10.3% | 9.2% | 7.7% | 33.1% | ||
| over 100 | over 100 | 41.19 | 40.53 | 7.57 | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,287 | €3,466 | €20,899 | €4,651 | €26,359 |
| €8,533 | €14,577 | €11,837 | €12,324 | €6,665 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on THRUST
The operating result for 2025 is 13% higher than in 2024 and the highest since 2017. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total falls from 28.9% to 24.4%. Equity and debt are higher.