THALAMAR
ActiveSummary
The computed 12-month bankruptcy probability of THALAMAR is 2.6% (moderate). The 2024 annual accounts show equity of €340k and a net result of €-51k. Equity is shrinking by ~7.1% per year across the filed fiscal years. The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability12▼-5
Solvency61▼-4
Growth32=
Track record100
Bankruptcy probability, 12 months
2.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €15k at 30 days acceptable
Liquidity ample (current ratio 8.04 against 29.08 in 2023; short-term debt: 0.5% and cash: 3.9% of total assets), but 63.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 2024Solvency, return and age of the figures
Solvency
36.2%
Return on assets
-5.4%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-51k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-06-2025, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
31 d early
2023
29 d early
2022
49 d early
2021
40 d early
2020
17 d early
2019
24 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-51k▼ 24.8%
2023 · €-41k
Working capital
€32k▼ 4.6%
2023 · €34k
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
Line20202021202220232024
Operating result€-27k▼ 8.4%€-26k▲ 1.8%€-28k▼ 5.7%€-24k▲ 14.1%€-33k▼ 40.3%
Net result€-28k▼ 14.7%€-29k▼ 3.1%€-35k▼ 19.3%€-41k▼ 17.5%€-51k▼ 24.8%
Equity€496k▼ 5.4%€467k▼ 5.9%€432k▼ 7.4%€391k▼ 9.4%€340k▼ 13.0%
Total assets€1.05M▼ 4.5%€1.03M▼ 2.5%€1.00M▼ 2.3%€970k▼ 3.2%€940k▼ 3.1%
Debt€558k▼ 3.8%€560k▲ 0.4%€571k▲ 1.9%€579k▲ 1.4%€600k▲ 3.6%
Working capital€16k▼ 55.9%€22k▲ 34.0%€26k▲ 17.8%€34k▲ 30.7%€32k▼ 4.6%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €33k in 2024 against €24k in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €940k
Fixed assets
€903k ▼ 3.4%
Current assets
€37k ▲ 5.2%
Equity and liabilities €940k
Equity
€340k ▼ 13.0%
Debt
€600k ▲ 3.6%
Debt's share of the balance-sheet total rises from 59.7% to 63.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-1k▼
2023 · €8k
Cash flow
€-19k▼
2023 · €-9k
Current ratio
8.04▼
2023 · 29.08
Debt to equity
1.76▲
2023 · 1.48
ROE
-14.9%▼
2023 · -10.4%
ROA
-5.4%▼
2023 · -4.2%
Interest coverage
-0.08▼
2023 · 0.48
Debt ≤ 1 year
€5k▲
2023 · €1k
Debt > 1 year
€550k=
2023 · €550k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €32k | €32k | €32k | €32k | €32k | = |
| Other operating charges640/8 | - | €7k | €7k | €7k | €8k | ▲ 3.3% |
| Gross operating margin9900 | €12k | €12k | €11k | €15k | €6k | ▼ 60.3% |
| Operating profit (loss)9901 | €-27k | €-26k | €-28k | €-24k | €-33k | ▼ 40.3% |
| Recurring financial income75 | €6 | - | - | - | - | - |
| Financial charges65/66B | - | €3k | €7k | €17k | €18k | ▲ 3.3% |
| Recurring financial charges65 | €2k | €3k | €7k | €17k | €18k | ▲ 3.3% |
| Profit (loss) for the period before taxes9903 | €-28k | €-29k | €-35k | €-41k | €-51k | ▼ 24.8% |
| Profit (loss) for the period9904 | €-28k | €-29k | €-35k | €-41k | €-51k | ▼ 24.8% |
| Profit (loss) for the period to be appropriated9905 | €-28k | €-29k | €-35k | €-41k | €-51k | ▼ 24.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.05M | €1.03M | €1.00M | €970k | €940k | ▼ 3.1% |
| Fixed assets21/28 | €1.03M | €999k | €967k | €935k | €903k | ▼ 3.4% |
| Tangible fixed assets22/27 | €1.03M | €999k | €967k | €935k | €903k | ▼ 3.4% |
| Land and buildings22 | - | €999k | €967k | €935k | €903k | ▼ 3.4% |
| Current assets29/58 | €23k | €28k | €36k | €35k | €37k | ▲ 5.2% |
| Cash at bank and in hand54/58 | €23k | €28k | €36k | €35k | €37k | ▲ 5.2% |
| Deferred charges and accrued income490/1 | - | €40 | €54 | €41 | €42 | ▲ 2.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.05M | €1.03M | €1.00M | €970k | €940k | ▼ 3.1% |
| Equity10/15 | €496k | €467k | €432k | €391k | €340k | ▼ 13.0% |
| Contributions10/11 | - | €750k | €750k | €750k | €750k | = |
| Profit (loss) carried forward14 | €-254k | €-283k | €-318k | €-359k | €-410k | ▼ 14.2% |
| Amounts payable17/49 | €558k | €560k | €571k | €579k | €600k | ▲ 3.6% |
| Amounts payable after more than one year17 | €550k | €550k | €550k | €550k | €550k | = |
| Financial debts170/4 | - | €550k | €550k | €550k | €550k | = |
| Amounts payable within one year42/48 | €7k | €6k | €10k | €1k | €5k | ▲ 281% |
| Trade debts44 | €7k | €6k | €9k | €1k | €5k | ▲ 281% |
| Suppliers440/4 | - | €6k | €9k | €1k | €5k | ▲ 281% |
| Other amounts payable47/48 | - | - | €1k | - | - | - |
| Accrued charges and deferred income492/3 | - | €4k | €11k | €28k | €45k | ▲ 62.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-28k | €-29k | €-35k | €-41k | €-51k | ▼ 24.8% |
| + Depreciation and write-downs630 | €32k | €32k | €32k | €32k | €32k | = |
| Operating cash flow (approximation) | €4k | €3k | €-3k | €-9k | €-19k | ▼ 114% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €5k | €8k | €-689 | €2k | ▲ 365% |
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
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €-51k
Net result drops to €-51k, the lowest in the series.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Liquidity times 8current ratio 29.08
Current ratio from 3.63 to 29.08; short-term debt falls from €10k to €1k.
12-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
19-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
28-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has 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
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, Brussel
Ground area
9,625 m²
Building footprint
442 m²
Volume, LiDAR
9,784 m³
Parcel 21822R0383/00S000, Brussels · tallest building 25.8 m, ±7 floors. Linked by address, not a title deed.
19
companies at this address
See who is registered here
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21822R0383/00S000 | Brussels | 9,625 m² | 1 · 442 m² | 25.8 m · 7 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 (pre-2019)
Founded20-04-2015
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.