Thalie
ActiveSummary
The computed 12-month bankruptcy probability of Thalie is 1.8% (moderate). The 2026 annual accounts show equity of €1.8m and a net result of €188,537. Equity is growing by ~13.3% per year across the filed fiscal years. Its solvency ranks better than 53% of 280 sector peers (fiscal year 2026). The company has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2026
Axes · tick = 2025
Profitability73▼-1
Solvency59▼-3
Growth78=
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €95,000 at 30 days acceptable
Liquidity tight (current ratio 1.44 against 1.38 in 2025; short-term debt: 52.2% and cash: 6% of total assets), and 66.3% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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
Retail trade (NACE 47)
about 45% more bankruptcies
← 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 2026Solvency, return and age of the figures
Solvency
33.7%
Return on assets
3.5%
Age of the figures
8 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-01-2026 was due by 31-08-2026 and was filed on 22-06-2026, 70 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
70 d early
2025
38 d early
2024
51 d early
2023
66 d early
2022
57 d early
2021
49 d early
2020
45 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 41 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-01-2027 and is due by 31-08-2027. Nothing is late today. Usually files around 5 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-01-2027 close31-08-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check 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 Which other companies belong to the same group?CELIO INTERNATIONAL · 7 companies How does this company compare with its sector?Sector benchmark
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Financials · fiscal year 2026, abbreviated schema
In the rankings
#8 employer in Sint-Gillis, Wholesale and retail trade sector
Turnover
€7.8m
EBIT margin
1.5%
Net result
€188,537▲ 0.5%
2025 · €187,518
Working capital
€1.2m▲ 63.2%
2025 · €763,804
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20222023202420252026
Turnover
Operating result€186,298€150,957▼ 19.0%€176,456▲ 16.9%€142,946▼ 19.0%€170,447▲ 19.2%
Net result€180,388above the sector's middle half€147,138above the sector's middle half▼ 18.4%€204,229above the sector's middle half▲ 38.8%€187,518above the sector's middle half▼ 8.2%€188,537▲ 0.5%
EBIT margin
Equity€1.1mabove the sector's middle half▲ 20.0%€1.2mabove the sector's middle half▲ 13.6%€1.4mabove the sector's middle half▲ 16.6%€1.6mabove the sector's middle half▲ 13.1%€1.8m▲ 11.6%
Total assets€2.8mabove the sector's middle half▼ 15.5%€2.6mabove the sector's middle half▼ 6.5%€3.7mabove the sector's middle half▲ 42.3%€4.3mabove the sector's middle half▲ 18.1%€5.4m▲ 23.8%
Debt€1.5m▼ 30.1%€1.2m▼ 18.1%€2.2m▲ 76.2%€2.3m▲ 2.9%€3.1m▲ 35.6%
Working capital€649,395above the sector's middle half▲ 98.6%€890,447above the sector's middle half▲ 37.1%€621,675above the sector's middle half▼ 30.2%€763,804within the sector's middle half▲ 22.9%€1.2m▲ 63.2%
Solvency39.1%within the sector's middle half▲ 11.6pp47.6%within the sector's middle half▲ 8.4pp39.0%within the sector's middle half▼ 8.6pp37.3%within the sector's middle half▼ 1.6pp33.7%▼ 3.7pp
Current ratio1.43within the sector's middle half▲ 0.281.75within the sector's middle half▲ 0.331.29within the sector's middle half▼ 0.461.38within the sector's middle half▲ 0.091.44▲ 0.06
Return on assets (ROA)6.5%within the sector's middle half▲ 23.8pp5.7%within the sector's middle half▼ 0.8pp5.6%within the sector's middle half▼ 0.1pp4.3%within the sector's middle half▼ 1.2pp3.5%▼ 0.8pp
Staff (FTE)32above the sector's middle half▼ 7.8%29.3above the sector's middle half▼ 8.4%27.2above the sector's middle half▼ 7.2%30.6above the sector's middle half▲ 12.5%30.8▲ 0.7%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2026; 2026 is 19% above 2025.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €5.4m
Fixed assets
€1.3m ▼ 16.6%
Current assets
€4.1m ▲ 47.1%
Equity and liabilities €5.4m
Equity
€1.8m ▲ 11.6%
Provisions
€495,599 ▲ 8.8%
Debt
€3.1m ▲ 35.6%
Debt's share of the balance-sheet total rises from 52.2% to 57.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€444,020▼
2025 · €446,075
Cash flow
€462,109▼
2025 · €490,647
Quick ratio
1.18▲
2025 · 1.04
Debt to equity
1.70▲
2025 · 1.40
ROE
10.4%▼
2025 · 11.6%
Interest coverage
1240.04▲
2025 · 808.62
Debt ≤ 1 year
€2.8m▲
2025 · €2.0m
Staff costs
€1.5m▲
2025 · €1.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,732 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.8% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 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% | 1.8% |
| 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 14,732 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 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €218,635 | €23,213 | €46,450 | €40,481 | €22,641 | ▼ 44.1% |
| Remuneration, social security and pensions62 | €1.1m | €1.3m | €1.3m | €1.3m | €1.5m | ▲ 12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €205,046 | €178,458 | €148,010 | €303,129 | €273,573 | ▼ 9.8% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €455,301 | €40,288 | ▼ 91.2% |
| Other operating charges640/8 | €3,233 | €9,929 | €7,922 | €8,307 | €8,755 | ▲ 5.4% |
| Gross operating margin9900 | €1.5m | €1.7m | €1.6m | €2.2m | €2.0m | ▼ 11.4% |
| Operating profit (loss)9901 | €186,298 | €150,957 | €176,456 | €142,946 | €170,447 | ▲ 19.2% |
| Financial income75/76B | €62 | - | €30,199 | €45,124 | €18,448 | ▼ 59.1% |
| Recurring financial income75 | €62 | - | €30,199 | €45,124 | €18,448 | ▼ 59.1% |
| Financial charges65/66B | €5,972 | €3,820 | €2,425 | €552 | €358 | ▼ 35.1% |
| Recurring financial charges65 | €5,972 | €3,820 | €2,425 | €552 | €358 | ▼ 35.1% |
| Profit (loss) for the period before taxes9903 | €180,388 | €147,138 | €204,229 | €187,518 | €188,537 | ▲ 0.5% |
| Profit (loss) for the period9904 | €180,388 | €147,138 | €204,229 | €187,518 | €188,537 | ▲ 0.5% |
| Profit (loss) for the period to be appropriated9905 | €180,388 | €147,138 | €204,229 | €187,518 | €188,537 | ▲ 0.5% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.8m | €2.6m | €3.7m | €4.3m | €5.4m | ▲ 23.8% |
| Fixed assets21/28 | €590,238 | €506,619 | €910,342 | €1.6m | €1.3m | ▼ 16.6% |
| Intangible fixed assets21 | €8,657 | €784 | €615 | €446 | €278 | ▼ 37.7% |
| Tangible fixed assets22/27 | €559,081 | €483,336 | €909,727 | €1.6m | €1.3m | ▼ 18.1% |
| Plant, machinery and equipment23 | €13,605 | €3,292 | €46,995 | €46,034 | €52,567 | ▲ 14.2% |
| Furniture and vehicles24 | €57,630 | €21,445 | €192,646 | €587,548 | €473,327 | ▼ 19.4% |
| Other tangible fixed assets26 | €487,846 | €432,332 | €606,394 | €885,077 | €760,911 | ▼ 14.0% |
| Assets under construction and advance payments27 | - | €26,267 | €63,692 | €66,254 | €11,344 | ▼ 82.9% |
| Financial fixed assets28 | €22,500 | €22,500 | €0 | - | €23,783 | - |
| Current assets29/58 | €2.2m | €2.1m | €2.8m | €2.8m | €4.1m | ▲ 47.1% |
| Stocks and contracts in progress3 | €462,022 | €471,863 | €552,222 | €689,046 | €737,427 | ▲ 7.0% |
| Stocks30/36 | €462,022 | €471,863 | €552,222 | €689,046 | €737,427 | ▲ 7.0% |
| Amounts receivable within one year40/41 | €419,861 | €256,710 | €1.9m | €1.7m | €2.7m | ▲ 59.2% |
| Trade receivables40 | €399,617 | €237,732 | €30,444 | €31,122 | €16,816 | ▼ 46.0% |
| Other amounts receivable41 | €20,244 | €18,978 | €1.9m | €1.7m | €2.7m | ▲ 61.2% |
| Cash at bank and in hand54/58 | €1.1m | €1.1m | €40,994 | €81,866 | €320,381 | ▲ 291% |
| Deferred charges and accrued income490/1 | €233,627 | €206,807 | €249,320 | €301,155 | €314,605 | ▲ 4.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.8m | €2.6m | €3.7m | €4.3m | €5.4m | ▲ 23.8% |
| Equity10/15 | €1.1m | €1.2m | €1.4m | €1.6m | €1.8m | ▲ 11.6% |
| Contributions10/11 | €4.2m | €4.2m | €4.2m | €4.2m | €4.2m | = |
| Reserves13 | €32,308 | €32,308 | €32,308 | €32,308 | €32,308 | = |
| Non-distributable reserves130/1 | €32,308 | €32,308 | €32,308 | €32,308 | €32,308 | = |
| Reserves not available under the articles1311 | €32,308 | €32,308 | €32,308 | €32,308 | €32,308 | = |
| Profit (loss) carried forward14 | -€3.2m | -€3.0m | -€2.8m | -€2.6m | -€2.4m | ▲ 7.2% |
| Provisions and deferred taxes16 | €157,862 | €105,162 | €42,663 | €455,310 | €495,599 | ▲ 8.8% |
| Provisions for liabilities and charges160/5 | €157,862 | €105,162 | €42,663 | €455,310 | €495,599 | ▲ 8.8% |
| Other liabilities and charges164/5 | €157,862 | €105,162 | €42,663 | €455,310 | €495,599 | ▲ 8.8% |
| Amounts payable17/49 | €1.5m | €1.2m | €2.2m | €2.3m | €3.1m | ▲ 35.6% |
| Amounts payable within one year42/48 | €1.5m | €1.2m | €2.1m | €2.0m | €2.8m | ▲ 40.9% |
| Financial debts43 | €223,667 | - | - | - | - | - |
| Other loans439 | €223,667 | - | - | - | - | - |
| Trade debts44 | €912,339 | €782,205 | €1.7m | €1.6m | €2.4m | ▲ 50.7% |
| Suppliers440/4 | €912,339 | €782,205 | €1.7m | €1.6m | €2.4m | ▲ 50.7% |
| Taxes, remuneration and social security45 | €386,542 | €402,419 | €444,416 | €422,359 | €442,005 | ▲ 4.7% |
| Taxes450/3 | €165,983 | €151,403 | €168,137 | €195,466 | €217,299 | ▲ 11.2% |
| Remuneration and social security454/9 | €220,559 | €251,015 | €276,279 | €226,893 | €224,706 | ▼ 1.0% |
| Other amounts payable47/48 | €503 | €445 | €1,508 | €2,027 | €2,726 | ▲ 34.5% |
| Accrued charges and deferred income492/3 | €301 | €63,297 | €56,518 | €273,499 | €264,085 | ▼ 3.4% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €180,388 | €147,138 | €204,229 | €187,518 | €188,537 | ▲ 0.5% |
| + Depreciation and write-downs630 | €205,046 | €178,458 | €148,010 | €303,129 | €273,573 | ▼ 9.8% |
| Operating cash flow (approximation) | €385,434 | €325,595 | €352,239 | €490,647 | €462,109 | ▼ 5.8% |
| Investment in fixed assets (approximation) | - | -€94,839 | -€551,733 | -€978,147 | -€10,423 | ▲ 98.9% |
| Change in cash | - | €83,200 | -€1.1m | €40,872 | €238,515 | ▲ 484% |
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 2027, expected by
2026
22-06
NBB filing
Annual accounts filed
fiscal year 2026 · abbreviated schema
2025
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2024
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
31-01
Financial
Highest result since 2019net €204,229 ▲38.8%
Net result €204,229, the highest in the series.
2023
26-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2022
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
31-01
Financial
Back to profitnet €180,388
Net result €180,388 after one loss-making year.
31-01
Financial
Equity above €1mEq €1.1m ▲20%
Equity rises from €901,082 to €1.1m.
2021
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
31-01
Financial
Weakest financial yearnet -€565,155
Net result drops to -€565,155, the lowest in the series; recovery starts the following year.
2020
15-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 45 days late
2019
08-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
11-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 15 acts read
About the unread acts
We know of 15 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 15 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Sint-Gillis (bij-Brussel) · 8 establishment units since 1992
Ground area
17.0 ha
Building footprint
7.6 ha
Volume, LiDAR
820,150 m³
9 parcels, Brussels, Flanders, Wallonia · tallest building 49.4 m, ±10 floors. Linked by address, not a title deed.
109
companies at this address
See who is registered here
8 establishment units
Thalie
since 19922.142.553.816
Thalie
since 19922.142.554.212
Thalie
since 20012.142.554.113
THALIE
since 20052.147.917.421
Thalie
since 20062.153.098.211
Thalie
since 20082.220.202.811
Show 2 more locations
Thalie
since 20122.212.766.176
Thalie
since 20232.350.311.483
9 parcels
Flanders
1
(11.1%)
Wallonia
2
(22.2%)
Brussels
6
(66.7%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11050B0010/00E002 | Flanders | 5.6 ha | 1 · 4.9 ha | 27.4 m · 4 fl. |
| 21674C0095/00M007 | Brussels | 5.2 ha | 1 · 1.2 ha | 17.1 m · 3 fl. |
| 21813F0611/00L000 | Brussels | 3.7 ha | 1 · 48 m² | 11.0 m · 1 fl. |
| 21003A0333/00C006 | Brussels | 1.3 ha | 1 · 9,101 m² | 26.6 m · 4 fl. |
| 21001A0392/00V000 | Brussels | 7,228 m² | 1 · 1,611 m² | 20.4 m · 6 fl. |
| 21562A0411/00A002 | Brussels | 2,707 m² | 1 · 2,234 m² | 49.4 m · 10 fl. |
| 52028B0393/00T004 | Wallonia | 1,115 m² | 1 · 1,134 m² | 5.9 m · 2 fl. |
| 25110A0256/00A000 | Wallonia | 632 m² | 1 · 90 m² | - |
| 21016B0008/00V002 | Brussels | 238 m² | 1 · 182 m² | 12.7 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
9 of 9 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Part of the group
CELIO INTERNATIONAL
7 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- CELIO INTERNATIONAL
- Thalie
Highest known parent: CELIO INTERNATIONAL. The sources do not say who stands above it.
Owners 1
-
99.99%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Company details
Identification
Legal formPrivate limited company
Founded01-01-1968
Fiscal year end31-01
Abbreviation FR
Thalie et Teddy
Activities, NACEBEL 2025
47712Retail trade
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0402181497
Also
9925:BE0402181497
Registered
17-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.