THECO
ActiveSummary
THECO has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €887k and a net result of €58k. Equity is growing by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 78% of 8001 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
85
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability75▲+5
Solvency98▲+26
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €75k at 30 days acceptable
Liquidity ample (current ratio 3.37 against 1.74 in 2024; short-term debt: 27% and cash: 35.1% of total assets), and 27% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
73%
Return on assets
4.8%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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 15-06-2026, 46 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
46 d early
2024
29 d early
2023
58 d early
2022
33 d early
2021
34 d early
2020
28 d early
2019
16 d early
← before the deadline
after the deadline →
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€887k▲ 7.0%
2024 · €829k
2018: €764k
2019: €674k
2020: €652k
2021: €702k
2022: €722k
2023: €809k
2024: €829k
2018 → 2025
Total assets
€1.22M▼ 31.1%
2024 · €1.76M
2018: €1.45M
2019: €1.45M
2020: €1.31M
2021: €1.35M
2022: €1.40M
2023: €1.73M
2024: €1.76M
2018 → 2025
Net result
€58k▲ 192%
2024 · €20k
2018: €46k
2019: €-90k
2020: €-23k
2021: €51k
2022: €20k
2023: €87k
2024: €20k
2018 → 2025
Working capital
€779k▲ 12.3%
2024 · €694k
2018: €716k
2019: €593k
2020: €557k
2021: €619k
2022: €637k
2023: €631k
2024: €694k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€702k-€722k▲ 2.8%€809k▲ 12.1%€829k▲ 2.5%€887k▲ 7.0%
Operating result€46k-€23k▼ 51.4%€121k▲ 435%€41k▼ 66.0%€94k▲ 129%
Net result€51k-€20k▼ 60.8%€87k▲ 341%€20k▼ 77.3%€58k▲ 192%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 129% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.22M
Fixed assets
€108k ▼ 20.3%
Current assets
€1.11M ▼ 32.0%
Equity and liabilities €1.22M
Equity
€887k ▲ 7.0%
Debt
€329k ▼ 64.8%
Debt's share of the balance-sheet total falls from 53.0% to 27.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€138k▲
2024 · €85k
Cash flow
€102k▲
2024 · €64k
Current ratio
3.37▲
2024 · 1.74
Quick ratio
2.38▲
2024 · 1.12
Debt to equity
0.37▼
2024 · 1.13
ROE
6.5%▲
2024 · 2.4%
ROA
4.8%▲
2024 · 1.1%
Interest coverage
6.98▼
2024 · 7.47
Debt ≤ 1 year
€329k▼
2024 · €935k
Income taxes
€29k▲
2024 · €10k
Staff costs
€8▲
2024 · €0
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.76M€1.22M▼
Fixed assets21/28€135k€108k▼
Intangible fixed assets21€0-
Tangible fixed assets22/27€135k€108k▼
Plant, machinery and equipment23€16k€11k▼
Furniture and vehicles24€92k€75k▼
Other tangible fixed assets26€27k€21k▼
Current assets29/58€1.63M€1.11M▼
Stocks and contracts in progress3€580k€325k▼
Stocks30/36€580k€325k▼
Amounts receivable within one year40/41€205k€352k▲
Trade receivables40€205k€352k▲
Other amounts receivable41€148€157▲
Cash at bank and in hand54/58€839k€426k▼
Deferred charges and accrued income490/1€5k€5k▲
Equity and liabilities
Total equity and liabilities10/49€1.76M€1.22M▼
Equity10/15€829k€887k▲
Contributions10/11€6k€6k=
Reserves13€823k€881k▲
Distributable reserves133€823k€881k▲
Amounts payable17/49€935k€329k▼
Amounts payable within one year42/48€935k€329k▼
Financial debts43€300k-
Other loans439€300k-
Trade debts44€25k€0▼
Suppliers440/4€25k€0▼
Taxes, remuneration and social security45€58k€74k▲
Taxes450/3€58k€74k▲
Other amounts payable47/48€552k€255k▼
Income statement
Code20242025
Non-recurring operating income76A-€2k
Remuneration, social security and pensions62€0€8▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€44k€44k▲
Other operating charges640/8€5k€3k▼
Non-recurring operating charges66A-€394
Gross operating margin9900€89k€141k▲
Operating profit (loss)9901€41k€94k▲
Financial income75/76B€537€13k▲
Recurring financial income75€537€13k▲
Financial charges65/66B€11k€20k▲
Recurring financial charges65€11k€20k▲
Profit (loss) for the period before taxes9903€30k€87k▲
Income taxes67/77€10k€29k▲
Profit (loss) for the period9904€20k€58k▲
Profit (loss) for the period to be appropriated9905€20k€58k▲
Appropriation of the result
Profit (loss) to be appropriated9906€20k€58k▲
Transfer to equity691/2€20k€58k▲
To other reserves6921€20k€58k▲
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
15-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
03-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €87k ▲341%
Operating result €121k, net result €87k, both a record.
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €51k
Net result €51k after 2 loss-making years.
03-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
15-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet €-90k ▼296%
Net result drops to €-90k, the lowest in the series; recovery starts the following year.
13-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Alken · 1 establishment unit since 1998
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.
Grootstraat 1953570 AlkenGround area
2,102 m²
Building footprint
291 m²
Volume, LiDAR
1,712 m³
Parcel 73302D0227/00T000, Flanders · tallest building 11.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Grootstraat 195, 3570 Alken
since 19982.113.801.729
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73302D0227/00T000 | Flanders | 2,102 m² | 1 · 291 m² | 11.2 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
SUD MOTO
BE 0891.631.126
Ukkel · Eq €971k
LG Trading
BE 0566.991.526
Mol · Eq €800k
Motorsport Racing Parts & Tyres
BE 0869.551.649
Genk · Eq €786k
CONCEPT & CO
BE 0668.933.279
Kortrijk · Eq €775k
BWIMPORT EU
BE 0738.618.376
Mechelen · Eq €1.02M
Of 169 companies in sector 46730 we hold annual accounts for 89. 48 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded17-12-1992
Fiscal year end31-12
Activities, NACEBEL 2025
46730Wholesale trade
47811Retail sale of cars and light vans (up to 3.5 tonnes)
47830Retail sale of motorcycles and motorcycle parts and accessories
Sources
Crossroads Bank for EnterprisesNational Bank · 33 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.