THAI STATION

Active

Private limited companyfounded 20242 yrs activeGuvelingen 81, 3800 Sint-Truiden, BelgiumKBO/BCE: BE 1010.875.008

Summary

The computed 12-month bankruptcy probability of THAI STATION is 5.2% (elevated). The 2025 annual accounts show equity of €46k and a net result of €14k. Its solvency ranks better than 60% of 13306 sector peers (fiscal year 2025). The company has been active since 2024 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2025

59 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability71▼-24

Solvency67▲+11

Growth52

Track record82

Bankruptcy probability, 12 months

5.2% Elevated

0%0.5%1.5%4%10%≥ 25%

Credit up to €2.5k at 30 days only on tighter terms

Liquidity tight (current ratio 1.23 against 1.47 in 2024; short-term debt: 43.8% and cash: 41.5% of total assets), and 58.3% of the assets are financed with debt.

How do we compute the score and the probability?

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

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 56

Relative position

BE, all sectors

reference

Sector 56

higher

← fewer bankruptcies more bankruptcies →

Young company

A young company has little track record yet and statistically fails more often than an established one.

KBO · incorporation date

Age against the risk zone

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

41.7%

Return on assets

13.2%

Age of the figures

9 mo

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-07-2026, 1 day ahead of the deadline.

NBB · 2 filings

Deviation from the deadline

2025

1 d early

2024

57 d late

← before the deadline after the deadline →

Checked, nothing found (2)

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 months

Position in the running window

24-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, micro schema

Equity

€46k▲ 46.2%

2024 · €31k

2024: €31k

2024 → 2025

Total assets

€109k▲ 10.3%

2024 · €99k

2024: €99k

2024 → 2025

Net result

€14k▼ 31.9%

2024 · €21k

2024: €21k

2024 → 2025

Working capital

€11k▼ 49.7%

2024 · €22k

2024: €22k

2024 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20242025Trend

Equity€31k-€46k▲ 46.2%

Operating result€30k-€26k▼ 15.1%

Net result€21k-€14k▼ 31.9%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result falls in 2025; 2025 is 15% below 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €109k

46.3%

53.7%

Fixed assets €51k ▲ 61.5%

Current assets €59k ▼ 13.4%

Equity and liabilities €109k

41.7%

58.3%

Equity €46k ▲ 46.2%

Debt €64k ▼ 6.2%

The debt ratio falls from 68.6% to 58.3%. Equity is higher and debt is lower.

Key figures and ratios

2025 value · change against 2024

EBITDA

€34k▼

2024 · €35k

Cash flow

€23k▼

2024 · €26k

Current ratio

1.23▼

2024 · 1.47

Debt / equity

1.40▼

2024 · 2.18

ROE

31.6%▼

2024 · 67.9%

ROA

13.2%▼

2024 · 21.3%

Interest coverage

4.35▼

2024 · 9.62

Debt ≤ 1 year

€48k▲

2024 · €46k

Debt > 1 year

€16k▼

2024 · €22k

Income taxes

€4k▼

2024 · €5k

Staff costs

€198k▲

2024 · €57k

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 · 43 lines

Balance sheet Code20242025

Assets

Total assets20/58€99k€109k▲

Fixed assets21/28€31k€51k▲

Tangible fixed assets22/27€31k€51k▲

Land and buildings22€19k€39k▲

Plant, machinery and equipment23€9k€10k▲

Furniture and vehicles24€3k€2k▼

Current assets29/58€68k€59k▼

Amounts receivable within one year40/41€9k€11k▲

Trade receivables40€9k-

Other amounts receivable41-€11k

Cash at bank and in hand54/58€59k€45k▼

Deferred charges and accrued income490/1-€2k

Equity and liabilities

Total equity and liabilities10/49€99k€109k▲

Equity10/15€31k€46k▲

Contributions10/11€10k€10k=

Profit (loss) carried forward14€21k€36k▲

Amounts payable17/49€68k€64k▼

Amounts payable after more than one year17€22k€16k▼

Financial debts170/4€22k€16k▼

Amounts payable within one year42/48€46k€48k▲

Current portion of amounts payable after more than one year42€6k€6k▲

Trade debts44€16k€13k▼

Suppliers440/4€16k€13k▼

Taxes, remuneration and social security45€12k€27k▲

Taxes450/3€9k€4k▼

Remuneration and social security454/9€3k€23k▲

Other amounts payable47/48€13k€2k▼

Income statement Code20242025

Remuneration, social security and pensions62€57k€198k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€9k▲

Other operating charges640/8€620€1k▲

Gross operating margin9900€92k€233k▲

Operating profit (loss)9901€30k€26k▼

Financial income75/76B-€212

Recurring financial income75-€212

Non-recurring financial income76B-€212

Financial charges65/66B€4k€8k▲

Recurring financial charges65€4k€8k▲

Profit (loss) for the period before taxes9903€27k€18k▼

Income taxes67/77€5k€4k▼

Profit (loss) for the period9904€21k€14k▼

Profit (loss) for the period to be appropriated9905€21k€14k▼

Appropriation of the result

Profit (loss) to be appropriated9906€21k€36k▲

Profit (loss) brought forward from the previous period14P-€21k

The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 2Filings 2

Next filing, fiscal year 2026, expected by 31-07-2027

2026

30-07

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

26-09

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 57 days late

NBB filing

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-Truiden · 2 establishment units since 2024

establishment All 2 establishment units on the map

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.

Guvelingen 813800 Sint-Truiden

Ground area

1,499 m²

Building footprint

413 m²

Volume, LiDAR

1,652 m³

3 parcels, Flanders · tallest building 12.3 m, ±3 floors. Linked by address, not a title deed.

2 establishment units

Thai Station

Tiensesteenweg 20, 3800 Sint-TruidenAgents in the wholesale of food, beverages and tobacco

since 20242.360.988.017

Thai Station

Stationslaan 45, 3700 Tongeren-BorgloonAgents in the wholesale of food, beverages and tobacco

since 20242.360.988.116

3 parcels

Flanders 3 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
71053G0229/00A006	Flanders	1,108 m²	1 · 206 m²	7.4 m · 2 fl.
71353E0011/00S000	Flanders	221 m²	1 · 107 m²	-
73348B0017/00W000	Flanders	170 m²	1 · 100 m²	12.3 m · 3 fl.