Summary
Thea is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €6.3m and a net result of €345,837. Its solvency ranks better than 57% of 5565 sector peers (fiscal year 2025). The company has been active since 2024 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Young company
Founded in 2024, under 3 years in business. Failure risk is statistically highest between 2 and 8 years after founding.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-07-2026, 0 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
on the day
2024
4 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 2 accounts on average 2 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed 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
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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 Which other companies belong to the same group?Vande Moortel Services · 22 companies What changed in the latest annual accounts?What changed
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Financials · fiscal year 2025, abbreviated schema
Equity
€6.3m▲ 77.6%
2024 · €3.5m
Net result
€345,837
2024 · -€57,028
Total assets
€10.6m▲ 4.2%
2024 · €10.2m
Solvency
58.8%▲ 24.3pp
2024 · 34.5%
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
Line20242025
Operating result-€57,006-€357,227
Net result-€57,028-€345,837
Equity€3.5m-€6.3m▲ 77.6%
Total assets€10.2m-€10.6m▲ 4.2%
Debt€6.7m-€4.4m▼ 34.5%
Working capital-€6.3m--€456,530▲ 92.8%
Solvency34.5%-58.8%▲ 24.3pp
Staff (FTE)0-0.7
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Why a figure moved sharply
- 2025 Equity +78% on 2024. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €357,227 after a loss of €57,006 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.6m
Fixed assets
€10.2m ▲ 3.1%
Current assets
€451,771 ▲ 38.0%
Equity and liabilities €10.6m
Equity
€6.3m ▲ 77.6%
Debt
€4.4m ▼ 34.5%
Debt's share of the balance-sheet total falls from 65.5% to 41.2%. Equity is higher and debt is lower.
Key figures and ratios
ROE
5.5%▲
2024 · -1.6%
ROA
3.3%▲
2024 · -0.6%
Debt ≤ 1 year
€908,302▼
2024 · €6.7m
Debt > 1 year
€3.4m
Income taxes
€123,509
Staff costs
€36,650
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | - | €36,650 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €285,509 | - |
| Other operating charges640/8 | €819 | €788 | ▼ 3.8% |
| Gross operating margin9900 | -€56,186 | €680,174 | ▲ 1,311% |
| Operating profit (loss)9901 | -€57,006 | €357,227 | ▲ 727% |
| Financial income75/76B | - | €215,161 | - |
| Recurring financial income75 | - | €215,161 | - |
| Financial charges65/66B | €22 | €103,043 | ▲ 467,850% |
| Recurring financial charges65 | €22 | €103,043 | ▲ 467,850% |
| Profit (loss) for the period before taxes9903 | -€57,028 | €469,346 | ▲ 923% |
| Income taxes67/77 | - | €123,509 | - |
| Profit (loss) for the period9904 | -€57,028 | €345,837 | ▲ 706% |
| Profit (loss) for the period to be appropriated9905 | -€57,028 | €345,837 | ▲ 706% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €10.2m | €10.6m | ▲ 4.2% |
| Fixed assets21/28 | €9.9m | €10.2m | ▲ 3.1% |
| Intangible fixed assets21 | - | €3.5m | - |
| Financial fixed assets28 | €9.9m | €6.7m | ▼ 32.6% |
| Current assets29/58 | €327,307 | €451,771 | ▲ 38.0% |
| Amounts receivable within one year40/41 | €14,844 | €370,418 | ▲ 2,395% |
| Trade receivables40 | €3,025 | €268,277 | ▲ 8,769% |
| Other amounts receivable41 | €11,819 | €102,141 | ▲ 764% |
| Cash at bank and in hand54/58 | €312,463 | €80,974 | ▼ 74.1% |
| Deferred charges and accrued income490/1 | - | €379 | - |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €10.2m | €10.6m | ▲ 4.2% |
| Equity10/15 | €3.5m | €6.3m | ▲ 77.6% |
| Contributions10/11 | €3.6m | €6.0m | ▲ 66.7% |
| Profit (loss) carried forward14 | -€57,028 | €288,809 | ▲ 606% |
| Amounts payable17/49 | €6.7m | €4.4m | ▼ 34.5% |
| Amounts payable after more than one year17 | - | €3.4m | - |
| Financial debts170/4 | - | €3.4m | - |
| Amounts payable within one year42/48 | €6.7m | €908,302 | ▼ 86.4% |
| Current portion of amounts payable after more than one year42 | €6.7m | €684,552 | ▼ 89.7% |
| Trade debts44 | €16,556 | €166,583 | ▲ 906% |
| Suppliers440/4 | €16,556 | €166,583 | ▲ 906% |
| Taxes, remuneration and social security45 | - | €30,442 | - |
| Taxes450/3 | - | €25,172 | - |
| Remuneration and social security454/9 | - | €5,270 | - |
| Other amounts payable47/48 | - | €26,724 | - |
| Accrued charges and deferred income492/3 | - | €29,932 | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€57,028 | €345,837 | ▲ 706% |
| + Depreciation and write-downs630 | - | €285,509 | - |
| Operating cash flow (approximation) | -€57,028 | €631,346 | ▲ 1,207% |
| Investment in fixed assets (approximation) | - | -€593,260 | - |
| Change in cash | - | -€231,488 | - |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €345,837
Net result €345,837 after one loss-making year.
31-12
Financial
Equity above €5mEq €6.3m ▲77.6%
Equity rises from €3.5m to €6.3m.
27-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Gent · 1 establishment unit since 2024
Ground area
1,418 m²
Building footprint
81 m²
Volume, LiDAR
44 m³
Parcel 44062A0318/00A000, Flanders · tallest building 5.1 m. Linked by address, not a title deed.
36
companies at this address
See who is registered here
1 establishment unit
Thea
since 20242.361.055.224
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44062A0318/00A000 | Flanders | 1,418 m² | 1 · 81 m² | 5.1 m |
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.
Structure & network
Part of the group
Vande Moortel Services
22 companies
Group, risk and exposure
Owners and holdings
2 owners · 7 holdingsChain of control
Highest known parent: Vande Moortel Services. The sources do not say who stands above it.
Owners 2
- VM HOLDparentSourceaccounts VM HOLD 202554%
-
10%
Holdings 7
-
100%
-
100%
-
100%
-
100%
-
100%
-
100%
-
80%
According to the 2025 annual accounts of Thea and those 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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Of 24,729 companies in sector 64210 we hold annual accounts for 19,773. 7,444 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded01-07-2024
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
70100Activities of head offices
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:1011011303
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.