MINTHOR
ActiveSummary
MINTHOR has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €181,258 and a net result of €119,743. Its solvency ranks better than 66% of 17,149 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 28-06-2024 Normal situation
- Activity
- Development of residential building projects NACE 68121
- Establishment unit
- 2.361.070.169 3550 Heusden-Zolder, since 28-06-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 06-10-2024
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €189,138
- ▲ 140%
- Turnover
- ≈ €340,000
- estimated
- Profit
- €119,743
- ▲ 103%
- Equity
- €181,258
- ▲ 195%
- Total assets
- €363,267
- ▲ 97.1%
Score breakdownlowers riskLiquidity: current ratio 3.47, cash €259,864Sector: Real estate activities (NACE 68)Size: total assets €363,267Equity €181,258 (49.9% of total assets)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 64% of them on solvency, 91% on liquidity, 95% on profitability and 95% on growth.
The bankruptcy probability was computed on 03-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 2 accounts on average 26 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 06-07-2026 at the NBB all 2 filings
Every figure per financial year
The operating result for 2025 is 110% higher than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €61,918 | - |
| Depreciation and write-downs of the year | €3,546 | €30,959 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,546 | €30,959 | ▲ 773% |
| Other operating charges640/8 | €387 | €854 | ▲ 120% |
| Gross operating margin9900 | €78,952 | €189,138 | ▲ 140% |
| Operating profit (loss)9901 | €75,019 | €157,326 | ▲ 110% |
| Financial income75/76B | - | €1,194 | - |
| Recurring financial income75 | - | €1,194 | - |
| Financial charges65/66B | €1,014 | €4,089 | ▲ 303% |
| Recurring financial charges65 | €1,014 | €4,089 | ▲ 303% |
| Profit (loss) for the period before taxes9903 | €74,004 | €154,431 | ▲ 109% |
| Income taxes67/77 | €14,990 | €34,688 | ▲ 131% |
| Profit (loss) for the period9904 | €59,014 | €119,743 | ▲ 103% |
| Profit (loss) for the period to be appropriated9905 | €59,014 | €119,743 | ▲ 103% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €184,302 | €363,267 | ▲ 97.1% |
| Fixed assets21/28 | €58,372 | €27,413 | ▼ 53.0% |
| Tangible fixed assets22/27 | €58,372 | €27,413 | ▼ 53.0% |
| Plant, machinery and equipment23 | €21,255 | €9,661 | ▼ 54.5% |
| Furniture and vehicles24 | €37,116 | €17,751 | ▼ 52.2% |
| Current assets29/58 | €125,931 | €335,855 | ▲ 167% |
| Amounts receivable within one year40/41 | €44,834 | €75,990 | ▲ 69.5% |
| Trade receivables40 | €44,834 | €45,591 | ▲ 1.7% |
| Other amounts receivable41 | - | €30,399 | - |
| Cash at bank and in hand54/58 | €80,091 | €259,864 | ▲ 224% |
| Deferred charges and accrued income490/1 | €1,006 | - | - |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €184,302 | €363,267 | ▲ 97.1% |
| Equity10/15 | €61,514 | €181,258 | ▲ 195% |
| Contributions10/11 | €2,500 | €2,500 | = |
| Reserves13 | €59,014 | €178,758 | ▲ 203% |
| Distributable reserves133 | €59,014 | €178,758 | ▲ 203% |
| Amounts payable17/49 | €122,788 | €182,010 | ▲ 48.2% |
| Amounts payable after more than one year17 | - | €14,479 | - |
| Financial debts170/4 | - | €14,479 | - |
| Amounts payable within one year42/48 | €76,946 | €96,665 | ▲ 25.6% |
| Current portion of amounts payable after more than one year42 | - | €12,865 | - |
| Trade debts44 | €54,238 | €34,123 | ▼ 37.1% |
| Suppliers440/4 | €54,238 | €34,123 | ▼ 37.1% |
| Taxes, remuneration and social security45 | €19,727 | €49,677 | ▲ 152% |
| Taxes450/3 | €19,727 | €49,677 | ▲ 152% |
| Other amounts payable47/48 | €2,982 | - | - |
| Accrued charges and deferred income492/3 | €45,841 | €70,865 | ▲ 54.6% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €59,014 | €119,743 | ▲ 103% |
| + Depreciation and write-downs630 | €3,546 | €30,959 | ▲ 773% |
| Operating cash flow (approximation) | €62,560 | €150,702 | ▲ 141% |
| Investment in fixed assets (approximation) | - | €0 | - |
| Change in cash | - | €179,773 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 39,278 companies had the same profile as MINTHOR has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of MINTHOR itself is lower: < 0.1% within 12 months. It rests on far more data about MINTHOR than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 39,278 companies, not a prediction for MINTHOR. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Board & ownership
Directors
Owners and capital
Shareholders
- SELS Tom Wilfried Jozef Hubert 100 shares (100%) · €2,500
Capital transactions
- 02-07-2024 Incorporation · €2,500 · 100 shares
Articles of association
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 02-07-2024 (in Dutch)
Network & group
MINTHOR shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of MINTHOR. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
02-07
Gazette deed
IncorporationStarting capital €2,500 · Appointment: SELS Tom Wilfried Jozef Hubert (director) · Founder6 points ▸
- Incorporation, 27-06-2024
- Founder, SELS Tom Wilfried Jozef Hubert
- Founding capital, €2,500
- Pre-incorporation commitments, “takeover, alle verbintenissen,verplichtingen en activiteiten in naam en voor rekening van vennootschap in oprichting” (deed in Dutch)
- Board rule, 1
- Director appointment, SELS Tom Wilfried Jozef Hubert (director (not named in the articles))
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
MINTHOR was incorporated on 28 June 2024 as a private limited company by one natural person, with a starting capital of €2,500.12 SELS Tom Wilfried Jozef Hubert is director of the company, appointed in the act of 02-07-2024.2 The company has filed 2 sets of annual accounts, the latest for financial year 2025.3
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 1010.909.056
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 71462C0068/00S006 | Flanders | 1,941 m² | 1 · 236 m² | 13.4 m · 1 |