THAD
ActiveSummary
The computed 12-month bankruptcy probability of THAD is 4.2% (elevated). The 2025 annual accounts show equity of €92,341 and a net result of €32,731. Equity is growing by ~50.2% per year across the filed fiscal years. The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
59
/ 100
Fair
An elevated bankruptcy probability caps the score. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency100▲+11
Growth78▲+26
Track record82
Bankruptcy probability, 12 months
4.2%
Elevated
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days only on tighter terms
Liquidity ample (current ratio 5.31 against 3.65 in 2024; short-term debt: 17.5% and cash: 3.3% of total assets), and 22.9% of the assets are financed with debt.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established one.
KBO · incorporation dateAge against the risk zone
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
77.1%
Return on assets
27.3%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 05-08-2026, 5 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 3 filingsDeviation from the deadline
2025
5 d late
2024
31 d late
2023
28 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 21 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€92,341▲ 54.9%
2024 · €59,610
Total assets
€119,810▲ 29.2%
2024 · €92,719
Net result
€32,731▲ 20.7%
2024 · €27,109
Working capital
€90,483▲ 62.9%
2024 · €55,541
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202320242025
Operating result€38,223-€36,426▼ 4.7%€43,023▲ 18.1%
Net result€30,001-€27,109▼ 9.6%€32,731▲ 20.7%
Equity€32,501-€59,610▲ 83.4%€92,341▲ 54.9%
Total assets€44,454-€92,719▲ 109%€119,810▲ 29.2%
Debt€9,049-€33,108▲ 266%€27,468▼ 17.0%
Working capital€33,892-€55,541▲ 63.9%€90,483▲ 62.9%
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 18% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €119,810
Fixed assets
€8,336 ▼ 48.5%
Current assets
€111,473 ▲ 45.6%
Equity and liabilities €119,810
Equity
€92,341 ▲ 54.9%
Debt
€27,468 ▼ 17.0%
Debt's share of the balance-sheet total falls from 35.7% to 22.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€50,868▲
2024 · €43,850
Cash flow
€40,576▲
2024 · €34,534
Current ratio
5.31▲
2024 · 3.65
Debt to equity
0.30▼
2024 · 0.56
ROE
35.4%▼
2024 · 45.5%
ROA
27.3%▼
2024 · 29.2%
Interest coverage
50.93▲
2024 · 40.51
Debt ≤ 1 year
€20,991=
2024 · €20,997
Debt > 1 year
€6,478▼
2024 · €12,112
Income taxes
€9,318▲
2024 · €8,239
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | €59,613 | €61,169 | €58,234 | ▼ 4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25 | €7,424 | €7,845 | ▲ 5.7% |
| Other operating charges640/8 | - | €2,150 | €928 | ▼ 56.8% |
| Non-recurring operating charges66A | - | - | €277 | - |
| Gross operating margin9900 | €38,249 | €46,001 | €52,073 | ▲ 13.2% |
| Operating profit (loss)9901 | €38,223 | €36,426 | €43,023 | ▲ 18.1% |
| Financial income75/76B | - | €5 | €25 | ▲ 391% |
| Recurring financial income75 | - | €5 | €25 | ▲ 391% |
| Financial charges65/66B | - | €1,083 | €999 | ▼ 7.7% |
| Recurring financial charges65 | - | €1,083 | €999 | ▼ 7.7% |
| Profit (loss) for the period before taxes9903 | €38,223 | €35,348 | €42,049 | ▲ 19.0% |
| Income taxes67/77 | €8,222 | €8,239 | €9,318 | ▲ 13.1% |
| Profit (loss) for the period9904 | €30,001 | €27,109 | €32,731 | ▲ 20.7% |
| Profit (loss) for the period to be appropriated9905 | €30,001 | €27,109 | €32,731 | ▲ 20.7% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €44,454 | €92,719 | €119,810 | ▲ 29.2% |
| Fixed assets21/28 | €1,512 | €16,182 | €8,336 | ▼ 48.5% |
| Tangible fixed assets22/27 | €1,512 | €16,088 | €8,243 | ▼ 48.8% |
| Furniture and vehicles24 | €1,512 | €16,088 | €8,243 | ▼ 48.8% |
| Financial fixed assets28 | - | €94 | €94 | = |
| Current assets29/58 | €42,941 | €76,537 | €111,473 | ▲ 45.6% |
| Amounts receivable within one year40/41 | €42,941 | €69,185 | €107,481 | ▲ 55.4% |
| Trade receivables40 | - | €5,116 | - | - |
| Other amounts receivable41 | €42,941 | €64,070 | €107,481 | ▲ 67.8% |
| Cash at bank and in hand54/58 | - | €7,352 | €3,992 | ▼ 45.7% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €44,454 | €92,719 | €119,810 | ▲ 29.2% |
| Equity10/15 | €32,501 | €59,610 | €92,341 | ▲ 54.9% |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | = |
| Outside capital11 | €2,500 | €2,500 | - | - |
| Other1109/19 | €2,500 | €2,500 | - | - |
| Profit (loss) carried forward14 | €30,001 | €57,110 | €89,841 | ▲ 57.3% |
| Provisions and deferred taxes16 | €2,904 | - | - | - |
| Provisions for liabilities and charges160/5 | €2,904 | - | - | - |
| Environmental obligations163 | €2,904 | - | - | - |
| Amounts payable17/49 | €9,049 | €33,108 | €27,468 | ▼ 17.0% |
| Amounts payable after more than one year17 | - | €12,112 | €6,478 | ▼ 46.5% |
| Financial debts170/4 | - | €12,112 | €6,478 | ▼ 46.5% |
| Amounts payable within one year42/48 | €9,049 | €20,997 | €20,991 | = |
| Current portion of amounts payable after more than one year42 | - | €5,293 | €5,624 | ▲ 6.3% |
| Trade debts44 | €826 | €1,242 | €810 | ▼ 34.8% |
| Suppliers440/4 | €826 | €1,242 | €810 | ▼ 34.8% |
| Taxes, remuneration and social security45 | €8,222 | €14,461 | €14,557 | ▲ 0.7% |
| Taxes450/3 | €8,222 | €14,461 | €14,557 | ▲ 0.7% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €30,001 | €27,109 | €32,731 | ▲ 20.7% |
| + Depreciation and write-downs630 | €25 | €7,424 | €7,845 | ▲ 5.7% |
| Operating cash flow (approximation) | €30,026 | €34,534 | €40,576 | ▲ 17.5% |
| Investment in fixed assets (approximation) | - | -€22,094 | €0 | ▲ 100% |
| Change in cash | - | - | -€3,360 | - |
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
05-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 5 days late
2025
31-12
Financial
Highest result since 2023net €32,731 ▲20.7%
Operating result €43,023, net result €32,731, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
31-12
Financial
Weakest financial yearnet €27,109 ▼9.6%
Net result drops to €27,109, the lowest in the series; recovery starts the following year.
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Sint-Lambrechts-Woluwe · 1 establishment unit since 2023
Ground area
323 m²
Building footprint
299 m²
Volume, LiDAR
3,641 m³
Parcel 21673D0117/00R034, Brussels · tallest building 14.6 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Noodlottige Rotsstraat 49/b6, 1200 Sint-Lambrechts-Woluwe
since 20232.353.722.420
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21673D0117/00R034 | Brussels | 323 m² | 1 · 299 m² | 14.6 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPrivate limited company
Founded12-12-2023
Fiscal year end31-12
Contact
E-mail
d.ndikumasabo@yahoo.com
E-invoicing
Reachable via Peppol
Peppol ID
0208:1003282084
Also
9925:BE1003282084
Registered
18-06-2026
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.