THERY
ActiveSummary
THERY has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €278k and a net result of €35k. Equity is growing by ~6.6% per year across the filed fiscal years. Its solvency ranks better than 34% of 1904 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
65
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability61▲+10
Solvency55▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €18k at 30 days acceptable
Liquidity ample (current ratio 1.98 against 1.68 in 2024; short-term debt: 29.4% and cash: 12.7% of total assets), but 70.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · 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
29.7%
Return on assets
3.7%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
28 d late
2024
18 d late
2023
44 d early
2022
4 d early
2021
38 d early
2020
36 d early
2019
7 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€278k▲ 14.4%
2024 · €243k
2018: €180k
2019: €197k
2020: €155k
2021: €189k
2022: €221k
2023: €216k
2024: €243k
2018 → 2025
Total assets
€934k▼ 7.3%
2024 · €1.01M
2018: €1,000k
2019: €1.12M
2020: €1.00M
2021: €1.02M
2022: €949k
2023: €1.03M
2024: €1.01M
2018 → 2025
Net result
€35k▲ 30.4%
2024 · €27k
2018: €17k
2019: €18k
2020: €-42k
2021: €47k
2022: €32k
2023: €29k
2024: €27k
2018 → 2025
Working capital
€268k▲ 18.2%
2024 · €227k
2018: €171k
2019: €182k
2020: €137k
2021: €175k
2022: €211k
2023: €195k
2024: €227k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€189k-€221k▲ 16.8%€216k▼ 2.3%€243k▲ 12.4%€278k▲ 14.4%
Operating result€90k-€69k▼ 23.2%€68k▼ 1.2%€66k▼ 3.0%€74k▲ 12.0%
Net result€47k-€32k▼ 32.5%€29k▼ 10.5%€27k▼ 5.9%€35k▲ 30.4%
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 recovers in 2025; 2025 is 12% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €934k
Fixed assets
€391k ▼ 12.8%
Current assets
€543k ▼ 2.9%
Equity and liabilities €934k
Equity
€278k ▲ 14.4%
Debt
€656k ▼ 14.2%
Debt's share of the balance-sheet total falls from 75.9% to 70.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€132k▲
2024 · €124k
Cash flow
€93k▲
2024 · €85k
Current ratio
1.98▲
2024 · 1.68
Quick ratio
1.21▲
2024 · 1.02
Debt to equity
2.36▼
2024 · 3.15
ROE
12.6%▲
2024 · 11.1%
ROA
3.7%▲
2024 · 2.7%
Interest coverage
4.56▲
2024 · 3.50
Debt ≤ 1 year
€275k▼
2024 · €332k
Debt > 1 year
€379k▼
2024 · €433k
Income taxes
€15k▲
2024 · €11k
Staff costs
€67k▲
2024 · €63k
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 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.01M€934k▼
Fixed assets21/28€449k€391k▼
Tangible fixed assets22/27€449k€391k▼
Land and buildings22€419k€371k▼
Furniture and vehicles24€30k€21k▼
Current assets29/58€559k€543k▼
Stocks and contracts in progress3€221k€209k▼
Stocks30/36€189k€172k▼
Contracts in progress37€32k€37k▲
Amounts receivable within one year40/41€217k€212k▼
Trade receivables40€199k€197k▼
Other amounts receivable41€18k€15k▼
Cash at bank and in hand54/58€121k€119k▼
Deferred charges and accrued income490/1€93€3k▲
Equity and liabilities
Total equity and liabilities10/49€1.01M€934k▼
Equity10/15€243k€278k▲
Contributions10/11€6k€6k=
Reserves13€237k€272k▲
Distributable reserves133€237k€272k▲
Amounts payable17/49€765k€656k▼
Amounts payable after more than one year17€433k€379k▼
Financial debts170/4€433k€379k▼
Amounts payable within one year42/48€332k€275k▼
Current portion of amounts payable after more than one year42€64k€66k▲
Financial debts43€120k€60k▼
Credit institutions430/8€120k€60k▼
Trade debts44€83k€89k▲
Suppliers440/4€83k€89k▲
Taxes, remuneration and social security45€8k€6k▼
Taxes450/3€2k€2k▲
Remuneration and social security454/9€6k€5k▼
Other amounts payable47/48€57k€54k▼
Accrued charges and deferred income492/3-€3k
Income statement
Code20242025
Remuneration, social security and pensions62€63k€67k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€58k€58k=
Other operating charges640/8€10k€9k▼
Gross operating margin9900€197k€207k▲
Operating profit (loss)9901€66k€74k▲
Financial income75/76B€7k€5k▼
Recurring financial income75€7k€5k▼
Financial charges65/66B€35k€29k▼
Recurring financial charges65€35k€29k▼
Profit (loss) for the period before taxes9903€38k€50k▲
Income taxes67/77€11k€15k▲
Profit (loss) for the period9904€27k€35k▲
Profit (loss) for the period to be appropriated9905€27k€35k▲
Appropriation of the result
Profit (loss) to be appropriated9906€27k€35k▲
Transfer to equity691/2€27k€35k▲
To other reserves6921€27k€35k▲
The notes to these accounts (12 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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
18-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 18 days late
2024
17-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €200kEq €221k ▲16.8%
2 profitable years in a row build equity to €221k.
23-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €47k
Net result €47k after one loss-making year.
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €-42k ▼332%
Net result drops to €-42k, the lowest in the series; recovery starts the following year.
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
18-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
17-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro 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, Kortrijk · 1 establishment unit since 2002
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.
Guido Gezellelaan(Heu) 1268501 KortrijkGround area
769 m²
Building footprint
665 m²
Volume, LiDAR
2,990 m³
Parcel 34016C0711/00X005, Flanders · tallest building 11.1 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
THERY
since 20022.100.615.766
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34016C0711/00X005 | Flanders | 769 m² | 1 · 665 m² | 11.1 m · 1 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
MECON
BE 0441.192.325
Westerlo · Eq €279,015
BRB SOLUTIONS
BE 0895.905.757
Ittre · Eq €279,476
2M TECH
BE 0506.792.435
Welkenraedt · Eq €279,898
GROUPE G4
BE 0479.071.221
Sainte-Ode · Eq €275,237
HELVEN CONSTRUCTIE
BE 0426.818.410
Hasselt · Eq €280,486
Of 3,288 companies in sector 25620 we hold annual accounts for 1,723. 1,389 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded28-05-2002
Fiscal year end31-12
Activities, NACEBEL 2025
25620Manufacture of fabricated metal products, except machinery and equipment
95290Repair and maintenance of other personal and household goods
Sources
Crossroads Bank for EnterprisesNational Bank · 23 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.