Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 24 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Thiry Paints West-Vlaanderen from Tielt, company number BE0405539479, closed financial year 2025 with a result of € -356,212 after tax. For that financial year Thiry Paints West-Vlaanderen recorded revenue of € 14.5 million and equity of € 915,105. Compared with financial year 2024, the result moved from € -198,567 to € -356,212. The company made a loss. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on August 5, 2026.
€ 915,105
▼ 28% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -356,212
▼ 79 % more loss than in 2024
Profit after tax over the fiscal year.
€ 120,750
▲ 173% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 833,056.
People and assets in 2025
45
▼ 6.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 2.8 million
▼ 16% vs 2024
€ 61,400 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 115,392
▲ 13% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 5.2 million
▲ 7% vs 2024
€ 585,036 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 832,649
▲ 28% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 26 days on average.
€ 454,096
▼ 10% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2021 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | - | - | € 15,017,972 | € 14,538,602 | ▼ 3% |
| Gross margin | € 2,039,685 | € 2,652,821 | - | - | |
| Profit after taxes | € 324,144 | € -320,170 | € -198,567 | € -356,212 | ▼ € 157,645 |
| Equity | € 1,645,866 | € 1,469,885 | € 1,271,317 | € 915,105 | ▼ 28% |
| Total debts | € 4,191,359 | € 4,620,977 | € 6,255,099 | € 6,485,690 | ▲ 4% |
| Cash | € 15,074 | € 38,942 | € 44,167 | € 120,750 | ▲ 173% |
| Retained profit | € 1,563,817 | € 1,387,836 | € 1,189,268 | € 833,056 | ▼ 30% |
| Bank debt | € 2,656,913 | € 3,425,525 | € 4,838,522 | € 5,162,570 | ▲ 7% |
| Balance sheet total | € 5,837,225 | € 6,091,441 | € 7,526,751 | € 7,401,129 | ▼ 2% |
| Employees (FTE) | 27.6 | 41.7 | 51.2 | 45 | ▼ 6.2 |
Key figures of Thiry Paints West-Vlaanderen, fiscal years 2021 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Thiry Paints West-Vlaanderen?
What happened at Thiry Paints West-Vlaanderen in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Patrick Van Pee stepped down as director. NBB
- Thiry Paints for Professionals stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 356,212. filed late Source: NBB ↗
- Thomas Vermeersch stepped down as director. NBB
- New establishment in Kuurne. KBO
- New establishment in Oostende. KBO
- Thomas Vermeersch became a director. NBB
- Patrick Van Pee became a director. NBB
In short
From € 324,144 profit in 2021 to € 356,212 loss in 2025.
Paid € 11,562 in corporate taxes since 2021.
Best year ever: 2021, with € 324,144 profit.
On average € 63,600 of value added per employee in 2023.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by Thiry Paints for Professionals (100%).
Directors
According to the 2025 annual accounts
Thomas Vermeersch
Director
since 2020 · until 2026
Patrick Van Pee
Director
Also active at: Novelta, Thiry Paints For Professionals, Thiry Paints Limburg, Thiry Paints Antwerpen, DISTRIPAINTS, Thiry Paints Oost-Vlaanderen, BN&F, PVP Projects +1 more
since 2018 · until 2030
Thiry Paints for Professionals
Managing director · represented by Guido Van Pee
Also active at: Novelta, André Thiry en Co, Thiry Paints Limburg, DISTRIPAINTS, D.-L. DISTRIBUTION
since 2018 · until 2030
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Galgenveldstraat 4
8700 Tielt
Dehemlaan 7
8900 Ieper
Active since 3 January 2001
Pathoekeweg 5
8000 Brugge
Active since 31 August 2009
Meensesteenweg 345
8800 Roeselare
Active since 4 March 2015
Kortrijkseweg 72
8791 Waregem
Active since 25 May 2016
Torhoutsesteenweg 675
8400 Oostende
Active since 25 July 2022
Ter Ferrants 11
8520 Kuurne
Active since 27 July 2022
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0405.539.479
- VAT number
- BE 0405.539.479
- Registered office
- Galgenveldstraat 4, 8700 Tielt
- Names & denominations
- Thiry Paints West-Vlaanderen
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 14 July 1967
- Peppol
- Active · Active since 16 Oct 2024
- Activities · NACE
Detailhandel in verf en verfwaren
Vervaardiging van verf, vernis ed, drukinkt en mastiek
Vervaardiging van verf, vernis e.d., drukinkt en mastiek
Groothandel in bouwmaterialen, algemeen assortiment
Groothandel in verf, vernis en bouwmaterialen, inclusief sanitair