SUAN THAI
ActiveSUAN THAI has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-129k) and a net result of €92k. Equity is shrinking by ~37.8% per year across the filed fiscal years. Its solvency ranks better than 8% of 11297 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
48
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+100
Solvency0=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.67 against 0.67 in 2024; short-term debt: 132.4% and cash: 3.1% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-151.1%
Return on assets
107.9%
Age of the figures
15 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 8% of 11297 sector peers (2025).
NBB · sector comparisonPosition among 11297 sector peers
Solvency
better than 8%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 29-01-2026, 2 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
2 d early
2024
2 d early
2023
2 d late
2022
3 d late
2021
on the day
2020
9 d late
2019
18 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close22-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-129k▲ 41.7%
2024 · €-221k
2019: €46k
2020: €100k
2021: €-6k
2022: €-139k
2023: €-187k
2024: €-221k
2019 → 2025
Total assets
€85k▼ 39.3%
2024 · €140k
2019: €248k
2020: €295k
2021: €111k
2022: €128k
2023: €136k
2024: €140k
2019 → 2025
Net result
€92k
2024 · €-33k
2019: €19k
2020: €54k
2021: €-118k
2022: €-133k
2023: €-49k
2024: €-33k
2019 → 2025
Working capital
€-37k▲ 40.5%
2024 · €-62k
2019: €28k
2020: €83k
2021: €-19k
2022: €-156k
2023: €-206k
2024: €-62k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-6k-€-139k▼ 2,272%€-187k▼ 35.1%€-221k▼ 17.7%€-129k▲ 41.7%
Operating result€-90k-€-127k▼ 42.0%€-43k▲ 66.6%€-20k▲ 52.6%€99k
Net result€-118k-€-133k▼ 12.5%€-49k▲ 63.4%€-33k▲ 32.0%€92k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €99k after a loss of €20k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €85k
Fixed assets
€10k▼ 34.0%
Current assets
€76k▼ 39.9%
Key figures and ratios
EBITDA
€105k▲
2024 · €-13k
Cash flow
€99k▲
2024 · €-26k
Solvency
-151.1%▲
2024 · -157.1%
Current ratio
0.67▲
2024 · 0.67
Quick ratio
0.26▼
2024 · 0.42
Debt / equity
-1.66▼
2024 · -1.64
ROA
107.9%▲
2024 · -23.6%
Interest coverage
17.07▲
2024 · -2.10
Debt
€214k▼
2024 · €361k
Debt ≤ 1 year
€113k▼
2024 · €188k
Debt > 1 year
€100k▼
2024 · €172k
Income taxes
€607▼
2024 · €7k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€140k€85k▼
Fixed assets21/28€14k€10k▼
Tangible fixed assets22/27€14k€9k▼
Plant, machinery and equipment23€7k€3k▼
Furniture and vehicles24€2k€3k▲
Other tangible fixed assets26€5k€4k▼
Financial fixed assets28€150€150=
Current assets29/58€126k€76k▼
Stocks and contracts in progress3€48k€47k▼
Stocks30/36€48k€47k▼
Amounts receivable within one year40/41€69k€21k▼
Trade receivables40€69k€21k▼
Other amounts receivable41€2€226▲
Cash at bank and in hand54/58€1k€3k▲
Deferred charges and accrued income490/1€8k€6k▼
Equity and liabilities
Total equity and liabilities10/49€140k€85k▼
Equity10/15€-221k€-129k▲
Contributions10/11€19k€19k=
Reserves13€74k€74k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€72k€72k=
Profit (loss) carried forward14€-313k€-221k▲
Amounts payable17/49€361k€214k▼
Amounts payable after more than one year17€172k€100k▼
Financial debts170/4€172k€100k▼
Amounts payable within one year42/48€188k€113k▼
Financial debts43€22k€16k▼
Credit institutions430/8€20k€16k▼
Other loans439€2k-
Trade debts44€131k€54k▼
Suppliers440/4€131k€54k▼
Taxes, remuneration and social security45€33k€26k▼
Taxes450/3€33k€26k▼
Other amounts payable47/48€2k€17k▲
Accrued charges and deferred income492/3€667€1k▲
Income statement
Code20242025
Non-recurring operating income76A-€11k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€7k▼
Other operating charges640/8€40k€6k▼
Gross operating margin9900€26k€112k▲
Operating profit (loss)9901€-20k€99k▲
Financial income75/76B€205€53▼
Recurring financial income75€205€53▼
Financial charges65/66B€6k€6k▼
Recurring financial charges65€6k€6k▼
Profit (loss) for the period before taxes9903€-26k€93k▲
Income taxes67/77€7k€607▼
Profit (loss) for the period9904€-33k€92k▲
Profit (loss) for the period to be appropriated9905€-33k€92k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-313k€-221k▲
Profit (loss) brought forward from the previous period14P€-280k€-313k▼
The notes to these accounts (11 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
29-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Back to profitnet €92k
Net result €92k after 4 loss-making years.
29-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
02-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 2 days late
2023
03-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 3 days late
2022
30-06
Financial
Weakest financial yearnet €-133k
Net result drops to €-133k, the lowest in the series; recovery starts the following year.
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
09-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 9 days late
2020
18-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 18 days late
2019
27-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
2018
31-01
NBB filing
Annual accounts filed
fiscal year 2017 · 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, Gent · 1 establishment unit since 2016
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.
Holstraat 729000 GentGround area
74 m²
Parcel 44815F2240/00K000, Flanders. Linked by address, not a title deed.
1 establishment unit
SUAN THAI
since 20162.252.514.895
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44815F2240/00K000 | Flanders | 74 m² | - | - |
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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteGent2.252.514.895
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Of 1,428 companies in sector 46389 we hold annual accounts for 855. 569 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded31-03-2016
Fiscal year end30-06
Activities, NACEBEL
46389Wholesale of other food products
46170Agents in the wholesale of food, beverages and tobacco
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.