Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 25 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
THIPI from Liège, company number BE0479581361, closed financial year 2025 with a result of € 36,221 after tax. For that financial year THIPI recorded a gross margin of € 89,772 and equity of € 58,460. Compared with financial year 2024, the result moved from € 10,568 to € 36,221. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on September 20, 2026.
€ 58,460
▲ 163% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 36,221
▲ 243% vs 2024
Profit after tax over the fiscal year.
€ 43,591
▲ 36% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -116,740.
Debts at end 2025
€ 130,803
▼ 17% vs 2024
€ 26,294 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 29,275
▼ 12% vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 114,082 | - | - | - | |
| Gross margin | € 56,310 | € 79,186 | € 64,778 | € 89,772 | ▲ 39% |
| Profit after taxes | € -3,107 | € -12,046 | € 10,568 | € 36,221 | ▲ 243% |
| Equity | € 23,717 | € 11,672 | € 22,239 | € 58,460 | ▲ 163% |
| Total debts | € 390,953 | € 368,015 | € 340,352 | € 281,983 | ▼ 17% |
| Cash | € 2,182 | € 18,478 | € 32,141 | € 43,591 | ▲ 36% |
| Land & buildings | € 257,950 | € 240,416 | € 222,881 | € 205,347 | ▼ 8% |
| Retained profit | € -151,483 | € -163,528 | € -152,961 | € -116,740 | ▲ € 36,221 |
| Bank debt | € 220,112 | € 183,390 | € 157,097 | € 130,803 | ▼ 17% |
| Balance sheet total | € 414,670 | € 379,686 | € 362,591 | € 340,444 | ▼ 6% |
Key figures of THIPI, fiscal years 2022 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 THIPI?
What happened at THIPI in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Paul Thibaut stepped down as director. NBB
- Barbara Thibaut stepped down as director. NBB
- Frédérique Thibaut stepped down as director. NBB
- NICOLAS THIBAUT stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 36,221 (▲ 243% vs 2024). filed late Source: NBB ↗
- Paul Thibaut became a director. NBB
- Barbara Thibaut became a director. NBB
- Frédérique Thibaut became a director. NBB
In short
From € 3,107 loss in 2022 to € 36,221 profit in 2025.
Paid € 0 in corporate taxes since 2022.
Best year ever: 2025, with € 36,221 profit.
Management
Directors
According to the 2025 annual accounts
Paul Thibaut
Director
since 2024 · until 2030
Barbara Thibaut
Director
since 2024 · until 2030
Frédérique Thibaut
Director
since 2024 · until 2030
since 2024 · until 2030
Establishments
Establishment units
Physical locations of this company
Rue de Fexhe 49
4000 Liège
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0479.581.361
- VAT number
- BE 0479.581.361
- Registered office
- Rue de Fexhe 49, 4000 Liège
- Names & denominations
- THIPI
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 18 February 2003
- Peppol
- Active · Active since 31 Jan 2026