THOMAS LIENARD
ActiveSummary
THOMAS LIENARD has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €21k and a net result of €188k. Equity is shrinking by ~34% per year across the filed fiscal years. Its solvency ranks better than 17% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency35▲+1
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity short (current ratio 1.0 against 1.06 in 2024; short-term debt: 89.8% and cash: 36.4% of total assets), and 89.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← 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
10.2%
Return on assets
91.9%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 31791 sector peers (2025).
NBB · sector comparisonPosition among 31791 sector peers
Solvency
better than 17%
← weakest
strongest →
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 10-04-2026, 112 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
112 d early
2024
98 d early
2023
58 d early
2022
67 d early
2021
75 d early
2020
72 d early
2019
59 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€21k▼ 3.3%
2024 · €21k
2018: €145k
2019: €290k▲ +99.4% vs 2018
2020: €416k▲ +43.5% vs 2019
2021: €456k▲ +9.7% vs 2020highest in 8 years
2022: €92k▼ -79.8% vs 2021
2023: €21k▼ -77.7% vs 2022lowest in 8 years
2024: €21k▲ +4.5% vs 2023
2025: €21k▼ -3.3% vs 2024
2018 → 2025
Total assets
€204k▼ 17.1%
2024 · €246k
2018: €504k
2019: €344k▼ -31.7% vs 2018
2020: €425k▲ +23.5% vs 2019
2021: €566k▲ +33.1% vs 2020highest in 8 years
2022: €205k▼ -63.7% vs 2021
2023: €241k▲ +17.4% vs 2022
2024: €246k▲ +2.2% vs 2023
2025: €204k▼ -17.1% vs 2024lowest in 8 years
2018 → 2025
Net result
€188k▲ 9.2%
2024 · €172k
2018: €182k
2019: €188k▲ +3.3% vs 2018highest in 8 years
2020: €126k▼ -33.1% vs 2019lowest in 8 years
2021: €130k▲ +3.5% vs 2020
2022: €134k▲ +2.9% vs 2021
2023: €132k▼ -1.4% vs 2022
2024: €172k▲ +30.0% vs 2023
2025: €188k▲ +9.2% vs 2024
2018 → 2025
Working capital
€-567
2024 · €14k
2018: €142k
2019: €241k▲ +70.1% vs 2018
2020: €379k▲ +57.3% vs 2019
2021: €433k▲ +14.4% vs 2020highest in 8 years
2022: €80k▼ -81.5% vs 2021
2023: €21k▼ -74.4% vs 2022
2024: €14k▼ -31.6% vs 2023
2025: €-567▼ -104% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€456k-€92k▼ 79.8%€21k▼ 77.7%€21k▲ 4.5%€21k▼ 3.3%
2021: €456khighest in 5 years
2022: €92k▼ -79.8% vs 2021
2023: €21k▼ -77.7% vs 2022lowest in 5 years
2024: €21k▲ +4.5% vs 2023
2025: €21k▼ -3.3% vs 2024
Operating result€164k-€173k▲ 5.6%€182k▲ 5.2%€223k▲ 22.5%€246k▲ 9.9%
2021: €164klowest in 5 years
2022: €173k▲ +5.6% vs 2021
2023: €182k▲ +5.2% vs 2022
2024: €223k▲ +22.5% vs 2023
2025: €246k▲ +9.9% vs 2024highest in 5 years
Net result€130k-€134k▲ 2.9%€132k▼ 1.4%€172k▲ 30.0%€188k▲ 9.2%
2021: €130klowest in 5 years
2022: €134k▲ +2.9% vs 2021
2023: €132k▼ -1.4% vs 2022
2024: €172k▲ +30.0% vs 2023
2025: €188k▲ +9.2% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 10% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €204k
Fixed assets
€21k ▲ 188%
Current assets
€183k ▼ 23.4%
Equity and liabilities €204k
Equity
€21k ▼ 3.3%
Debt
€184k ▼ 18.4%
Debt's share of the balance-sheet total falls from 91.3% to 89.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€248k▲
2024 · €224k
Cash flow
€190k▲
2024 · €172k
Current ratio
1.00▼
2024 · 1.06
Debt to equity
8.83▼
2024 · 10.46
ROE
903.3%▲
2024 · 800.0%
ROA
91.9%▲
2024 · 69.8%
Interest coverage
672.52▼
2024 · 1939.29
Debt ≤ 1 year
€184k▼
2024 · €225k
Income taxes
€58k▲
2024 · €52k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 42 lines
Balance sheet
Code20242025
Assets
Total assets20/58€246k€204k▼
Fixed assets21/28€7k€21k▲
Tangible fixed assets22/27€7k€21k▲
Furniture and vehicles24€7k€20k▲
Other tangible fixed assets26-€1k
Current assets29/58€239k€183k▼
Amounts receivable within one year40/41€118k€107k▼
Trade receivables40€92k€107k▲
Other amounts receivable41€26k€0▼
Cash at bank and in hand54/58€119k€74k▼
Deferred charges and accrued income490/1€1k€2k▲
Equity and liabilities
Total equity and liabilities10/49€246k€204k▼
Equity10/15€21k€21k▼
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€1k€330▼
Amounts payable17/49€225k€184k▼
Amounts payable within one year42/48€225k€184k▼
Trade debts44€274€106▼
Suppliers440/4€274€106▼
Taxes, remuneration and social security45€54k€17k▼
Taxes450/3€54k€17k▼
Other amounts payable47/48€171k€166k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€545€2k▲
Other operating charges640/8€847€1k▲
Gross operating margin9900€225k€249k▲
Operating profit (loss)9901€223k€246k▲
Financial income75/76B€551€313▼
Recurring financial income75€551€313▼
Financial charges65/66B€116€368▲
Recurring financial charges65€116€368▲
Non-recurring financial charges66B€0-
Profit (loss) for the period before taxes9903€224k€246k▲
Income taxes67/77€52k€58k▲
Profit (loss) for the period9904€172k€188k▲
Transfer from tax-exempt reserves789€0-
Profit (loss) for the period to be appropriated9905€172k€188k▲
Appropriation of the result
Profit (loss) to be appropriated9906€172k€189k▲
Profit (loss) brought forward from the previous period14P€113€1k▲
Profit to be distributed694/7€171k€189k▲
Return on contributions (dividend)694€171k€189k▲
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13k | €12k | €12k | €545 | €2k | ▲ 289% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €4k | €0 | - | - | - |
| Other operating charges640/8 | €558 | €726 | €926 | €847 | €1k | ▲ 35.0% |
| Gross operating margin9900 | €178k | €190k | €195k | €225k | €249k | ▲ 10.7% |
| Operating profit (loss)9901 | €164k | €173k | €182k | €223k | €246k | ▲ 9.9% |
| Financial income75/76B | - | €0 | €272 | €551 | €313 | ▼ 43.2% |
| Recurring financial income75 | - | €0 | €272 | €551 | €313 | ▼ 43.2% |
| Financial charges65/66B | €37 | €33 | €9k | €116 | €368 | ▲ 219% |
| Recurring financial charges65 | €37 | €33 | €42 | €116 | €368 | ▲ 219% |
| Non-recurring financial charges66B | - | - | €9k | €0 | - | - |
| Profit (loss) for the period before taxes9903 | €164k | €173k | €174k | €224k | €246k | ▲ 9.7% |
| Income taxes67/77 | €34k | €39k | €42k | €52k | €58k | ▲ 11.3% |
| Profit (loss) for the period9904 | €130k | €134k | €132k | €172k | €188k | ▲ 9.2% |
| Transfer from tax-exempt reserves789 | - | €53k | €71k | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | €130k | €188k | €203k | €172k | €188k | ▲ 9.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €566k | €205k | €241k | €246k | €204k | ▼ 17.1% |
| Fixed assets21/28 | €24k | €12k | €0 | €7k | €21k | ▲ 188% |
| Tangible fixed assets22/27 | €24k | €12k | €0 | €7k | €21k | ▲ 188% |
| Furniture and vehicles24 | €23k | €11k | €0 | €7k | €20k | ▲ 174% |
| Other tangible fixed assets26 | €1k | €623 | €0 | - | €1k | - |
| Current assets29/58 | €542k | €193k | €241k | €239k | €183k | ▼ 23.4% |
| Amounts receivable within one year40/41 | €73k | €64k | €61k | €118k | €107k | ▼ 9.5% |
| Trade receivables40 | €73k | €56k | €57k | €92k | €107k | ▲ 16.1% |
| Other amounts receivable41 | €701 | €8k | €4k | €26k | €0 | ▼ 100% |
| Current investments50/53 | €9k | €9k | €0 | - | - | - |
| Cash at bank and in hand54/58 | €450k | €119k | €179k | €119k | €74k | ▼ 37.5% |
| Deferred charges and accrued income490/1 | €9k | €1k | €1k | €1k | €2k | ▲ 6.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €566k | €205k | €241k | €246k | €204k | ▼ 17.1% |
| Equity10/15 | €456k | €92k | €21k | €21k | €21k | ▼ 3.3% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €126k | €73k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | €2k | - | - | - | - | - |
| Reserves not available under the articles1311 | €2k | - | - | - | - | - |
| Tax-exempt reserves132 | €125k | €71k | €0 | - | - | - |
| Distributable reserves133 | - | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €311k | €652 | €113 | €1k | €330 | ▼ 68.0% |
| Amounts payable17/49 | €110k | €113k | €220k | €225k | €184k | ▼ 18.4% |
| Amounts payable within one year42/48 | €108k | €113k | €220k | €225k | €184k | ▼ 18.4% |
| Trade debts44 | - | €6 | €106 | €274 | €106 | ▼ 61.3% |
| Suppliers440/4 | - | €6 | €106 | €274 | €106 | ▼ 61.3% |
| Taxes, remuneration and social security45 | €17k | €15k | €16k | €54k | €17k | ▼ 67.5% |
| Taxes450/3 | €17k | €15k | €16k | €54k | €17k | ▼ 67.5% |
| Other amounts payable47/48 | €92k | €98k | €204k | €171k | €166k | ▼ 2.9% |
| Accrued charges and deferred income492/3 | €1k | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €130k | €134k | €132k | €172k | €188k | ▲ 9.2% |
| + Depreciation and write-downs630 | €13k | €12k | €12k | €545 | €2k | ▲ 289% |
| Operating cash flow (approximation) | €143k | €146k | €144k | €172k | €190k | ▲ 10.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €-8k | €-16k | ▼ 102% |
| Change in cash | - | €-332k | €60k | €-60k | €-45k | ▲ 25.0% |
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
Next filing, fiscal year 2026, expected by
2026
10-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
24-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
03-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
25-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-07
State Gazette act
Director resignation · Permanent representative
Director appointment · Board composition
17-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
04-03
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
2021
26-11
State Gazette act
General meeting · Capital increase
Bank account · Capital
20-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €126k ▼33.1%
Net result drops to €126k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 8current ratio 41.90
Current ratio from 5.44 to 41.90; short-term debt falls from €54k to €9k.
08-12
State Gazette act
General meeting · Director appointment
Permanent representative
Show earlier events
02-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €188k ▲3.3%
Net result €188k, the highest in the series.
31-12
Financial
Liquidity quadruplescurrent ratio 5.44
Current ratio from 1.39 to 5.44; short-term debt falls from €359k to €54k.
31-12
Financial
Equity above €200kEq €290k ▲99.4%
2 profitable years in a row build equity to €290k.
24-07
State Gazette act
General meeting · Director appointment
Director resignation · Director reappointment
23-07
State Gazette act
Board meeting · Capital increase
Capital · Bank account
20-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
08-08
State Gazette act
General meeting · Director appointment
Permanent representative · Mandate compensation
15-05
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
30-12
State Gazette act
Director resignation · Permanent representative
Board meeting · Director appointment
Financial milestoneState Gazette actNBB 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, Ukkel · 1 establishment unit since 2015
Ground area
1,737 m²
Building footprint
200 m²
Volume, LiDAR
1,461 m³
Parcel 21612D0025/00T022, Brussels · tallest building 10.1 m, ±2 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
Thomas Lienard
since 20152.246.795.657
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21612D0025/00T022 | Brussels | 1,737 m² | 1 · 200 m² | 10.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 30,956 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
Founded27-10-2015
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Contact
E-mail
thomas_lienard@yahoo.comUkkel
Phone
0472 633 819Ukkel
Scores and ratios are computed by Checked and are not a credit decision.