THCO
THCO has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €47k and a net result of €-30k. Equity is shrinking by ~16% per year across the filed fiscal years. Its solvency ranks better than 22% of 1089 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
| Equity | €47k |
| Net result | €-30k |
| Better than sector | 22% |
| Active | 14 yrs |
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 11.6% | 51.4% | |
| Net result | €-30k | €24k | |
| Equity | €47k | €51k | |
| Gross operating margin | €10k | €46k | |
| Total assets | €407k | €117k |
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 |
|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema |
| Revenue | - | - | - |
| EBITDA | €2k | €42k | €32k |
| Net profit | €-30k | €8k | €4k |
| Cash flow | €-5k | €28k | €22k |
| Staff costs | - | - | - |
| Income taxes | €354 | €8k | €4k |
| Dividends | €0 | €833 | €800 |
| Total assets | €407k | €407k | €391k |
| Equity | €47k | €77k | €70k |
| Debt | €360k | €330k | €322k |
| of which ≤ 1y | €47k | €54k | €28k |
| of which > 1y | €313k | €276k | €294k |
| Working capital | €-9k | €18k | €12k |
| Employees (FTE) | - | - | - |
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Current ratio | 0.81 | 1.33 | 1.44 |
| Quick ratio | 0.81 | 1.33 | 1.44 |
| Working capital ratio | -2.2% | 4.4% | 3.1% |
| Solvency | 11.6% | 19.0% | 17.8% |
| Debt / equity | 7.60 | 4.26 | 4.61 |
| Long-term debt ratio | 6.61 | 3.57 | 4.21 |
| Interest coverage | 0.31 | 6.30 | 5.07 |
| Gross margin | - | - | - |
| Net margin | - | - | - |
| ROA | -7.4% | 2.1% | 1.1% |
| ROE | -63.4% | 11.0% | 6.0% |
| EBITDA margin | - | - | - |
| Days sales outstanding | - | - | - |
| Days payable outstanding | - | - | - |
| Inventory turnover | - | - | - |
| Days inventory (DSI) | - | - | - |
Full annual accounts (23 line items)
| Line item | Code | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet, Assets | ||||
| TOTAL ASSETS | 20/58 | €407k | €407k | €391k |
| Fixed assets | 21/28 | €369k | €336k | €351k |
| Tangible fixed assets | 22/27 | €369k | €336k | €351k |
| Current assets | 29/58 | €38k | €72k | €40k |
| Amounts receivable within one year | 40/41 | €17k | €25k | €27k |
| Cash & bank | 54/58 | €19k | €45k | €12k |
| Balance sheet, Equity & liabilities | ||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €407k | €407k | €391k |
| Equity | 10/15 | €47k | €77k | €70k |
| Contributions / capital | 10/11 | €19k | €19k | €19k |
| Reserves | 13 | €53k | €59k | €51k |
| Accumulated profits (losses) | 14 | €-25k | €0 | €0 |
| Amounts payable | 17/49 | €360k | €330k | €322k |
| Amounts payable after one year | 17 | €313k | €276k | €294k |
| Amounts payable within one year | 42/48 | €47k | €54k | €28k |
| Trade debts payable within one year | 44 | €3k | €18k | €2k |
| Income statement | ||||
| Gross operating margin | 9900 | €10k | €58k | €34k |
| Operating result | 9901 | €-22k | €23k | €15k |
| Financial income | 75 | €249 | €24 | €57 |
| Financial charges | 65 | €8k | €7k | €6k |
| Result before taxes | 9903 | €-30k | €16k | €8k |
| Income taxes | 67/77 | €354 | €8k | €4k |
| Net result for the period | 9904 | €-30k | €8k | €4k |
| Result to be appropriated | 9905 | €-30k | €8k | €4k |
| NACE primary | Other business support services(82990) |
| Legal form | Private limited company(610) |
| Incorporation | 23-05-2012 |
| Status | Active |
| Postal code | 9630 |
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45049B0288/00R000 | Flanders | 589 m² | 1 · 297 m² | 9.6 m · 2 fl. |
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
09-03-2022 Registered office moved from Mariakerke to Zwalm
- Stanislaw Maczekstraat 6, 9030 Mariakerke (Gent) → Latemdreef 109, 9630 Zwalm
Technical details
{
"events": [
{
"kind": "zetel_transfer",
"seat_type": "siege_social",
"new_address": {
"raw": "Latemdreef 109, 9630 Zwalm",
"city": "Zwalm",
"region": "vlaams_gewest",
"street": "Latemdreef",
"country": "BE",
"postcode": "9630",
"box_number": null,
"street_number": "109",
"locality_suffix": null
},
"old_address": {
"raw": "Stanislaw Maczekstraat 6, 9030 Mariakerke (Gent)",
"city": "Mariakerke",
"region": "vlaams_gewest",
"street": "Stanislaw Maczekstraat",
"country": "BE",
"postcode": "9030",
"box_number": null,
"street_number": "6",
"locality_suffix": "(Gent)"
},
"effective_date": "2022-01-22",
"evidence_quote": "",
"region_changed": false,
"is_statute_change": false,
"nationality_change": false,
"old_address_source": "header_volledig_adres",
"statute_clause_text": null,
"statute_article_number": null,
"effective_date_qualifier": "immediate",
"statutaire_vs_werkelijke": "statutaire",
"linguistic_region_changed": false,
"court_jurisdiction_changed": false,
"effective_date_is_approximate": false
}
],
"notary": {
"name": null,
"firm_city": null,
"firm_name": null,
"office_city": null,
"is_associated": false
},
"act_meta": {
"language": "mixed",
"pub_date": null,
"filing_date": "2022-03-01",
"act_kind_objet": "Zetelverplaatsing"
},
"decision": {
"body": "enige_bestuurder",
"date": "2022-01-22",
"unanimous": null
},
"subject_company": {
"kbo": "0846.132.978",
"name_full": "TH\u0421O",
"legal_form": "BV"
},
"publication_proxy": {
"kind": "person",
"org_kbo": null,
"org_name": null,
"person_name": "Coorevits Thomas",
"org_rep_person_name": null,
"person_role_at_subject": "Bestuurder"
},
"co_filed_documents": [
"Bijlagen bij het Belgisch Staatsblad",
"Annexes du Moniteur belge"
]
}| Legal nameNL | THCO |