TH
ActiveSummary
The computed 12-month bankruptcy probability of TH is 1.7% (moderate). The 2025 annual accounts show equity of €121k and a net result of €363k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 26% of 18280 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
51
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability91▲+4
Solvency31▼-26
Growth78=
Track record94
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity tight (current ratio 1.02 against 1.62 in 2024; short-term debt: 85.3% and cash: 19.6% of total assets), and 94.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
5.9%
Return on assets
17.5%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-05-2026, 70 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
70 d early
2024
31 d late
2023
on the day
2022
29 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · 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.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€121k▼ 80.5%
2024 · €623k
2022: €47k
2023: €346k
2024: €623k
2022 → 2025
Total assets
€2.07M▲ 7.1%
2024 · €1.93M
2022: €1.07M
2023: €1.55M
2024: €1.93M
2022 → 2025
Net result
€363k▲ 30.9%
2024 · €277k
2022: €-53k
2023: €299k
2024: €277k
2022 → 2025
Working capital
€36k▼ 94.4%
2024 · €645k
2022: €144k
2023: €425k
2024: €645k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€47k-€346k▲ 640%€623k▲ 80.2%€121k▼ 80.5%
Operating result€-63k-€301k€281k▼ 6.7%€391k▲ 39.3%
Net result€-53k-€299k€277k▼ 7.3%€363k▲ 30.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 39% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.07M
Fixed assets
€269k ▲ 4.8%
Current assets
€1.80M ▲ 7.5%
Equity and liabilities €2.07M
Equity
€121k ▼ 80.5%
Debt
€1.95M ▲ 48.8%
Debt's share of the balance-sheet total rises from 67.8% to 94.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€483k▲
2024 · €364k
Cash flow
€455k▲
2024 · €361k
Current ratio
1.02▼
2024 · 1.62
Quick ratio
0.91▼
2024 · 1.44
Debt to equity
16.07▲
2024 · 2.10
ROE
299.1%▲
2024 · 44.5%
ROA
17.5%▲
2024 · 14.3%
Interest coverage
58.35▲
2024 · 55.27
Debt ≤ 1 year
€1.77M▲
2024 · €1.03M
Debt > 1 year
€183k▼
2024 · €276k
Income taxes
€115k▲
2024 · €90k
Staff costs
€256k▲
2024 · €225k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 51 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.93M€2.07M▲
Formation expenses20€0€0=
Fixed assets21/28€257k€269k▲
Intangible fixed assets21€22k€10k▼
Tangible fixed assets22/27€217k€241k▲
Plant, machinery and equipment23€102k€63k▼
Furniture and vehicles24€116k€179k▲
Financial fixed assets28€18k€18k=
Current assets29/58€1.68M€1.80M▲
Stocks and contracts in progress3€186k€188k▲
Stocks30/36€186k€188k▲
Amounts receivable within one year40/41€325k€457k▲
Trade receivables40€226k€452k▲
Other amounts receivable41€100k€5k▼
Current investments50/53€900k€600k▼
Cash at bank and in hand54/58€262k€406k▲
Deferred charges and accrued income490/1€5k€153k▲
Equity and liabilities
Total equity and liabilities10/49€1.93M€2.07M▲
Equity10/15€623k€121k▼
Contributions10/11€100k€100k=
Profit (loss) carried forward14€523k€21k▼
Amounts payable17/49€1.31M€1.95M▲
Amounts payable after more than one year17€276k€183k▼
Financial debts170/4€276k€183k▼
Amounts payable within one year42/48€1.03M€1.77M▲
Current portion of amounts payable after more than one year42€108k€104k▼
Trade debts44€39k€58k▲
Suppliers440/4€39k€58k▲
Advances received on contracts in progress46€734k€1.07M▲
Taxes, remuneration and social security45€152k€177k▲
Taxes450/3€107k€126k▲
Remuneration and social security454/9€46k€51k▲
Other amounts payable47/48€0€363k▲
Accrued charges and deferred income492/3€2k€165▼
Income statement
Code20242025
Remuneration, social security and pensions62€225k€256k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€84k€92k▲
Other operating charges640/8€16k€13k▼
Gross operating margin9900€605k€751k▲
Operating profit (loss)9901€281k€391k▲
Financial income75/76B€94k€95k▲
Recurring financial income75€94k€95k▲
Financial charges65/66B€7k€8k▲
Recurring financial charges65€7k€8k▲
Profit (loss) for the period before taxes9903€367k€478k▲
Income taxes67/77€90k€115k▲
Profit (loss) for the period9904€277k€363k▲
Profit (loss) for the period to be appropriated9905€277k€363k▲
Appropriation of the result
Profit (loss) to be appropriated9906€523k€886k▲
Profit (loss) brought forward from the previous period14P€246k€523k▲
Profit to be distributed694/7-€865k
Return on contributions (dividend)694-€865k
The notes to these accounts (10 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
22-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2022net €363k ▲30.9%
Operating result €391k, net result €363k, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
31-12
Financial
Equity above €500kEq €623k ▲80.2%
2 profitable years in a row build equity to €623k.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €299k
Net result €299k after one loss-making year.
31-12
Financial
Equity above €200kEq €346k ▲640%
Equity rises from €47k to €346k.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Gerpinnes · 1 establishment unit since 2021
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.
Chaussée de Philippeville(GER) 1846280 GerpinnesGround area
8,479 m²
Parcel 52025A0337/00L020, Wallonia. Linked by address, not a title deed.
1 establishment unit
T H
since 20212.321.821.001
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52025A0337/00L020indicative | Wallonia | 8,479 m² | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
MV CONCEPT
BE 0805.141.075
Fosses-la-Ville · Eq €121,494
CAPITAC
BE 0894.324.558
Mol · Eq €121,541
CDL 15
BE 0690.901.108
Zaventem · Eq €121,619
Mid Century Modern INTERIEUR
BE 0769.954.128
Elsene · Eq €120,843
WEGRO
BE 0438.326.865
Koksijde · Eq €122,086
Of 2,610 companies in sector 47551 we hold annual accounts for 1,718. 1,346 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded24-09-2021
Fiscal year end31-12
Activities, NACEBEL 2025
47551Retail sale of household furniture
31002Manufacture of furniture
43350Other building finishing work
47540Retail sale of electrical household appliances
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.