TH TOITURES
ActiveSummary
The computed 12-month bankruptcy probability of TH TOITURES is 3.0% (moderate). The 2025 annual accounts show equity of €7,641 and a net result of -€2,413. Equity remains stable across the filed fiscal years (±2.4% per year). Its solvency ranks better than 15% of 28281 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability35▲+14
Solvency36▼-3
Growth78=
Track record94
Bankruptcy probability, 12 months
3.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Liquidity tight (current ratio 1.06 against 1.16 in 2024; short-term debt: 83% and cash: 13.4% of total assets), and 88.9% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
+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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
11.1%
Return on assets
-3.5%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
2122232425
2021 to 2025 · latest year -€2,413
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 28281 sector peers (2025).
NBB · sector comparisonPosition among 28281 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 4 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-09-2026, 56 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 5 filingsDeviation from the deadline
2025
56 d late
2024
69 d early
2023
34 d early
2022
32 d early
2021
31 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 22 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
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. Usually files around 29 June (4 of the last 5 filed years within 37 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, micro schema
Equity
€7,641▼ 24.0%
2024 · €10,054
Total assets
€68,553▼ 6.2%
2024 · €73,106
Net result
-€2,413▲ 39.8%
2024 · -€4,010
Working capital
€3,481▼ 58.2%
2024 · €8,332
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€3,240-€11,373€11,158▼ 1.9%€683▼ 93.9%€3,739▲ 447%
Net result-€5,013below the sector's middle half-€5,429within the sector's middle half€5,248within the sector's middle half▼ 3.3%-€4,010below the sector's middle half-€2,413below the sector's middle half▲ 39.8%
Equity€4,987below the sector's middle half-€10,416below the sector's middle half▲ 109%€14,064below the sector's middle half▲ 35.0%€10,054below the sector's middle half▼ 28.5%€7,641below the sector's middle half▼ 24.0%
Total assets€59,630below the sector's middle half-€70,706within the sector's middle half▲ 18.6%€60,001below the sector's middle half▼ 15.1%€73,106within the sector's middle half▲ 21.8%€68,553within the sector's middle half▼ 6.2%
Debt€54,644-€60,291▲ 10.3%€45,937▼ 23.8%€63,052▲ 37.3%€60,913▼ 3.4%
Working capital€24below the sector's middle half-€7,359within the sector's middle half▲ 30,059%€10,972within the sector's middle half▲ 49.1%€8,332within the sector's middle half▼ 24.1%€3,481below the sector's middle half▼ 58.2%
Solvency8.4%below the sector's middle half-14.7%below the sector's middle half▲ 6.4pp23.4%within the sector's middle half▲ 8.7pp13.8%below the sector's middle half▼ 9.7pp11.1%below the sector's middle half▼ 2.6pp
Current ratio1.00below the sector's middle half-1.12within the sector's middle half▲ 0.121.24within the sector's middle half▲ 0.121.16within the sector's middle half▼ 0.081.06below the sector's middle half▼ 0.10
Return on assets (ROA)-8.4%below the sector's middle half-7.7%within the sector's middle half▲ 16.1pp8.7%within the sector's middle half▲ 1.1pp-5.5%below the sector's middle half▼ 14.2pp-3.5%below the sector's middle half▲ 2.0pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
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 447% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €68,553
Fixed assets
€8,142 ▼ 33.6%
Current assets
€60,411 ▼ 0.7%
Equity and liabilities €68,553
Equity
€7,641 ▼ 24.0%
Debt
€60,913 ▼ 3.4%
Debt's share of the balance-sheet total rises from 86.2% to 88.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€7,855▲
2024 · €2,839
Cash flow
€1,703▲
2024 · -€1,854
Quick ratio
1.03▼
2024 · 1.12
Debt to equity
7.97▲
2024 · 6.27
ROE
-31.6%▲
2024 · -39.9%
Interest coverage
2.49▲
2024 · 1.12
Debt ≤ 1 year
€56,930▲
2024 · €52,516
Debt > 1 year
€3,983▼
2024 · €7,753
Income taxes
€3,362▲
2024 · €2,237
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,548 companies that looked in July 2024 the way this one looks now, 4.3% went bankrupt within 24 months and 91% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a small loss
4.3%
went bankrupt
3.9%
stopped otherwise
91%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 3.0% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,548 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €739 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €326 | €1,763 | €1,818 | €2,156 | €4,116 | ▲ 90.9% |
| Other operating charges640/8 | €2,185 | €3,195 | €3,510 | €1,526 | €4,493 | ▲ 194% |
| Gross operating margin9900 | €10 | €16,331 | €16,486 | €4,365 | €12,347 | ▲ 183% |
| Operating profit (loss)9901 | -€3,240 | €11,373 | €11,158 | €683 | €3,739 | ▲ 447% |
| Financial income75/76B | €1 | €1 | €1 | €72 | €362 | ▲ 401% |
| Recurring financial income75 | €1 | €1 | €1 | €72 | €362 | ▲ 401% |
| Financial charges65/66B | €494 | €294 | €269 | €2,529 | €3,152 | ▲ 24.6% |
| Recurring financial charges65 | €494 | €294 | €269 | €2,529 | €3,152 | ▲ 24.6% |
| Profit (loss) for the period before taxes9903 | -€3,733 | €11,079 | €10,890 | -€1,774 | €949 | ▲ 154% |
| Income taxes67/77 | €1,280 | €5,650 | €5,642 | €2,237 | €3,362 | ▲ 50.3% |
| Profit (loss) for the period9904 | -€5,013 | €5,429 | €5,248 | -€4,010 | -€2,413 | ▲ 39.8% |
| Profit (loss) for the period to be appropriated9905 | -€5,013 | €5,429 | €5,248 | -€4,010 | -€2,413 | ▲ 39.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €59,630 | €70,706 | €60,001 | €73,106 | €68,553 | ▼ 6.2% |
| Fixed assets21/28 | €4,962 | €3,200 | €3,092 | €12,258 | €8,142 | ▼ 33.6% |
| Tangible fixed assets22/27 | €4,962 | €3,200 | €3,092 | €12,258 | €8,142 | ▼ 33.6% |
| Plant, machinery and equipment23 | €4,962 | €3,200 | €3,092 | €1,313 | €971 | ▼ 26.1% |
| Furniture and vehicles24 | - | - | - | €10,945 | €7,172 | ▼ 34.5% |
| Current assets29/58 | €54,668 | €67,507 | €56,909 | €60,848 | €60,411 | ▼ 0.7% |
| Stocks and contracts in progress3 | - | - | - | €2,000 | €2,000 | = |
| Stocks30/36 | - | - | - | €2,000 | €2,000 | = |
| Amounts receivable within one year40/41 | €33,191 | €52,791 | €40,720 | €15,383 | €49,197 | ▲ 220% |
| Trade receivables40 | €27,832 | €51,877 | €35,024 | €9,258 | €34,518 | ▲ 273% |
| Other amounts receivable41 | €5,359 | €914 | €5,695 | €6,125 | €14,679 | ▲ 140% |
| Cash at bank and in hand54/58 | €16,964 | €14,716 | €16,189 | €43,465 | €9,214 | ▼ 78.8% |
| Deferred charges and accrued income490/1 | €4,513 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €59,630 | €70,706 | €60,001 | €73,106 | €68,553 | ▼ 6.2% |
| Equity10/15 | €4,987 | €10,416 | €14,064 | €10,054 | €7,641 | ▼ 24.0% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Profit (loss) carried forward14 | -€5,013 | €416 | €4,064 | €54 | -€2,359 | ▼ 4,496% |
| Amounts payable17/49 | €54,644 | €60,291 | €45,937 | €63,052 | €60,913 | ▼ 3.4% |
| Amounts payable after more than one year17 | - | - | - | €7,753 | €3,983 | ▼ 48.6% |
| Financial debts170/4 | - | - | - | €7,753 | €3,983 | ▼ 48.6% |
| Amounts payable within one year42/48 | €54,644 | €60,148 | €45,937 | €52,516 | €56,930 | ▲ 8.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €3,569 | €3,770 | ▲ 5.6% |
| Trade debts44 | €26,114 | €36,841 | €26,334 | €33,007 | €46,688 | ▲ 41.4% |
| Suppliers440/4 | €26,114 | €36,841 | €26,334 | €33,007 | €46,688 | ▲ 41.4% |
| Advances received on contracts in progress46 | €20,802 | €9,698 | - | - | - | - |
| Taxes, remuneration and social security45 | €7,727 | €13,348 | €18,062 | €14,399 | €5,599 | ▼ 61.1% |
| Taxes450/3 | €3,680 | €9,330 | €14,012 | €10,337 | €5,599 | ▼ 45.8% |
| Remuneration and social security454/9 | €4,047 | €4,018 | €4,050 | €4,062 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €260 | €1,540 | €1,540 | €872 | ▼ 43.3% |
| Accrued charges and deferred income492/3 | - | €143 | - | €2,784 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,013 | €5,429 | €5,248 | -€4,010 | -€2,413 | ▲ 39.8% |
| + Depreciation and write-downs630 | €326 | €1,763 | €1,818 | €2,156 | €4,116 | ▲ 90.9% |
| Operating cash flow (approximation) | -€4,688 | €7,191 | €7,066 | -€1,854 | €1,703 | ▲ 192% |
| Investment in fixed assets (approximation) | - | €0 | -€1,710 | -€11,322 | €0 | ▲ 100% |
| Change in cash | - | -€2,249 | €1,474 | €27,276 | -€34,251 | ▼ 226% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-09
State Gazette act
Resignation: Arnaud T'jean (director)Registered-office move4 facts ▸
State Gazette act
Resignation: Arnaud T'jean (director)
Registered-office move4 facts ▸
- General meeting, 21-09-2026
- Director resignation, Arnaud T'jean (director)
- Board meeting, 21-09-2026
- Registered-office move, Chemin dèl Haye Sitiène 4, 4163 Anthisnes
25-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 56 days late
2025
23-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €5,429
Net result €5,429 after one loss-making year.
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
no sitting director, last change in 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Not every act has been read: a resignation may be missing here
3 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Anthisnes · 1 establishment unit since 2020
Ground area
3,458 m²
Building footprint
158 m²
Volume, LiDAR
154 m³
2 parcels, Wallonia · tallest building 3.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
TH TOITURES
since 20202.317.742.744
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 61059A0471/00B000 | Wallonia | 1,755 m² | 1 · 62 m² | 3.1 m · 1 fl. |
| 61059A0183/00T000 | Wallonia | 1,702 m² | 1 · 96 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 0 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Arnaud T'jean |
|
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Of 8,576 companies in sector 43410 we hold annual accounts for 4,368. 1,968 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded04-12-2020
Fiscal year end31-12
Activities, NACEBEL 2025
43410Roofing work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0759469319
Also
9925:BE0759469319
Registered
26-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.