Thomas & Piron Bâtiment

Active

Public limited companyfounded 201214 yrs activeRue du Fort d'Andoy(WD) 5, 5100 Namur, BelgiumKBO/BCE: BE 0848.805.725

Summary

Thomas & Piron Bâtiment has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €75.5m and a net result of €7.7m. Equity is growing by ~7% per year across the filed fiscal years. Its solvency ranks better than 65% of 1005 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Risk analysisWatch Report Compare

Thomas & Piron BâtimentActiveChecked score 87/100

Risk analysis Report Compare

Activity

General construction of residential buildings

NACE 41001General construction of buildings NACE 41201

#1 employer in the province of Namur, Construction sector2 sites

Size

€175.9mturnover 2025

Staff: 380 FTE
Equity: €75.5m
Profit: €7.7m

Financial health

87 Excellent Checked score 2025

Bankruptcy chance 12 m: 0.2%

Structure

Parent: THOMAS & PIRON HOLDING · 100%
Board: 6 members
Holdings: 6

Auditor: SCRL Emst & YoungAccounts filed 20 d late

Why 87- Liquidity: current ratio 1.96, cash €3.2m- Sector Construction of residential and non-residential buildings (NACE 41)+ Founded in 2012+ Size: turnover €175.9m, 380 FTE, total assets €158.1mShow the evidence

Checked score

Score 2025

87 / 100

Excellent

Probability in this band: under 0.55%

Better than 46% of its sector peers (all companies)

Performance against the sector, not lower risk

Every signal that weighs is under Signals.

Financial strength · tick = 2024

Average

Solvency 73+3

equity 47.8% of total assets

Liquidity 29-1

short-term debt 46.9% · cash 2.0%

Profitability 66-2

return on assets 4.9%

Bankruptcy probability, 12 months

0.2% Very low

0%0.5%1.5%4%10%≥ 25%

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (23 companies)

Last 24 months 11-2024: 0.1% 12-2024: 0.1%● 0.0% vs 11-2024 01-2025: 0.1%● 0.0% vs 12-2024 02-2025: 0.1%▼ -3.8% vs 01-2025lowest value 03-2025: 0.1%● 0.0% vs 02-2025lowest value 04-2025: 0.1%▲ +4.7% vs 03-2025 05-2025: 0.1%▲ +3.8% vs 04-2025 06-2025: 0.2%▲ +13.8% vs 05-2025 07-2025: 0.2%▲ +34.4% vs 06-2025 08-2025: 0.3%▲ +62.6% vs 07-2025 09-2025: 0.2%▼ -31.8% vs 08-2025 10-2025: 0.2%● 0.0% vs 09-2025 11-2025: 0.2%● 0.0% vs 10-2025 12-2025: 0.2%● 0.0% vs 11-2025 01-2026: 0.2%● 0.0% vs 12-2025 02-2026: 0.2%▼ -3.8% vs 01-2026 03-2026: 0.2%▲ +1.8% vs 02-2026 04-2026: 0.2%▲ +4.8% vs 03-2026 05-2026: 0.2%▲ +4.2% vs 04-2026 06-2026: 0.3%▲ +4.4% vs 05-2026 07-2026: 0.3%▲ +18.8% vs 06-2026 08-2026: 0.6%▲ +102% vs 07-2026highest value 09-2026: 0.2%▼ -65.2% vs 08-2026 10-2026: 0.2%● 0.0% vs 09-2026

Founded in 2012 lowers the probability for this profile
Liquidity: current ratio 1.96, cash €3.2m raises the probability
Sector Construction of residential and non-residential buildings (NACE 41) raises the probability
Size: turnover €175.9m, 380 FTE, total assets €158.1m lowers the probability for this profile

Credit up to €6,550,000 at 30 days acceptable

Liquidity ample (current ratio 1.96 against 1.9 in 2024; short-term debt: 46.9% and cash: 2% of total assets), but 52.2% of the assets are financed with debt.

How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (all companies). Better than this share of them on solvency 65%, liquidity 26%, profitability 49%, growth against the median 47%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 04-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

Credit check for your own amount and term

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Signals

Five signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Founded in 2012

In the bankruptcy model this factor lowers the probability for this profile.

KBO

Liquidity: current ratio 1.96, cash €3.2m

In the bankruptcy model this factor raises the probability.

NBB · annual accounts

Sector Construction of residential and non-residential buildings (NACE 41)

In the bankruptcy model this factor raises the probability.

KBO

Size: turnover €175.9m, 380 FTE, total assets €158.1m

In the bankruptcy model this factor lowers the probability for this profile.

NBB · annual accounts

Filed after the deadline

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-08-2026, 20 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 filings

Deviation from the deadline

2025

20 d late

2024

8 d late

2023

19 d late

2022

31 d early

2021

30 d early

2020

31 d early

2019

25 d late

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 3 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.

Checked, nothing found (2)

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. Usually files around 8 August (4 of the last 5 filed years within 38 days of that day).

Companies Code · seven months

Position in the running window

04-10-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

15-09-26 General meeting · MergerDeclaration · Real estate ·…
20-08-26 Annual accounts filedfiscal year 2025 · full…
01-06-26 RestructuringShareholding · Declaration · Merger

Key points

Positive: Employer in the province of Namur, Construction sectorin the Checked rankings #1 View
Positive: 8 profitable years in a rowprofit 2025: €7.7m 8 years View
Controlled by THOMAS & PIRON HOLDINGknown shareholders 100% 100% View
Merger with THOMAS & PIRON RÉNOVATIONmerger on 01-01-2026 2026 View
New directorlatest change 26-01-2026 · 6 in office 1 joined View