Thed
ActiveSummary
The computed 12-month bankruptcy probability of Thed is 5.3% (elevated). The 2024 annual accounts show equity of €104k and a net result of €40k. The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability46▼-3
Solvency33▲+3
Growth52
Track record94
Bankruptcy probability, 12 months
5.3%
Elevated
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days only on tighter terms
Liquidity short (current ratio 0.6 against 0.56 in 2023; short-term debt: 91.6% and cash: 0.2% of total assets), and 91.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 2 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
37 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€104k▲ 64.1%
2023 · €63k
2023: €63k
2024: €104k▲ +64.1% vs 2023
2023 → 2024
Total assets
€1.23M▲ 4.5%
2023 · €1.18M
2023: €1.18M
2024: €1.23M▲ +4.5% vs 2023
2023 → 2024
Net result
€40k▼ 23.9%
2023 · €53k
2023: €53k
2024: €40k▼ -23.9% vs 2023
2023 → 2024
Working capital
€-448k▲ 8.3%
2023 · €-489k
2023: €-489k
2024: €-448k▲ +8.3% vs 2023
2023 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20232024Trend
Equity€63k-€104k▲ 64.1%
2023: €63k
2024: €104k▲ +64.1% vs 2023
Operating result€-2k-€-1k▲ 45.0%
2023: €-2k
2024: €-1k▲ +45.0% vs 2023
Net result€53k-€40k▼ 23.9%
2023: €53k
2024: €40k▼ -23.9% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1k in 2024 against €2k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.23M
Fixed assets
€552k =
Current assets
€683k ▲ 8.4%
Equity and liabilities €1.23M
Equity
€104k ▲ 64.1%
Debt
€1.13M ▲ 1.1%
Debt's share of the balance-sheet total falls from 94.7% to 91.6%. Equity and debt are higher.
Key figures and ratios
Current ratio
0.60▲
2023 · 0.56
Debt to equity
10.92▼
2023 · 17.72
ROE
39.1%▼
2023 · 84.2%
ROA
3.3%▼
2023 · 4.5%
Debt ≤ 1 year
€1.13M▲
2023 · €1.12M
Income taxes
€13k▼
2023 · €18k
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 · 2024 against 2023 · 31 lines
Balance sheet
Code20232024
Assets
Total assets20/58€1.18M€1.23M▲
Fixed assets21/28€552k€552k=
Financial fixed assets28€552k€552k=
Current assets29/58€630k€683k▲
Amounts receivable within one year40/41€625k€681k▲
Other amounts receivable41€625k€681k▲
Cash at bank and in hand54/58€4k€2k▼
Equity and liabilities
Total equity and liabilities10/49€1.18M€1.23M▲
Equity10/15€63k€104k▲
Contributions10/11€10k€10k=
Profit (loss) carried forward14€53k€94k▲
Amounts payable17/49€1.12M€1.13M▲
Amounts payable within one year42/48€1.12M€1.13M▲
Trade debts44€866-
Suppliers440/4€866-
Taxes, remuneration and social security45€18k€31k▲
Taxes450/3€18k€31k▲
Other amounts payable47/48€1.10M€1.10M=
Income statement
Code20232024
Other operating charges640/8€866€387▼
Gross operating margin9900€-2k€-947▲
Operating profit (loss)9901€-2k€-1k▲
Financial income75/76B€73k€55k▼
Recurring financial income75€73k€55k▼
Financial charges65/66B€136€24▼
Recurring financial charges65€136€24▼
Profit (loss) for the period before taxes9903€71k€54k▼
Income taxes67/77€18k€13k▼
Profit (loss) for the period9904€53k€40k▼
Profit (loss) for the period to be appropriated9905€53k€40k▼
Appropriation of the result
Profit (loss) to be appropriated9906€53k€94k▲
Profit (loss) brought forward from the previous period14P-€53k
The notes to these accounts (2 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Other operating charges640/8 | €866 | €387 | ▼ 55.3% |
| Gross operating margin9900 | €-2k | €-947 | ▲ 39.3% |
| Operating profit (loss)9901 | €-2k | €-1k | ▲ 45.0% |
| Financial income75/76B | €73k | €55k | ▼ 24.7% |
| Recurring financial income75 | €73k | €55k | ▼ 24.7% |
| Financial charges65/66B | €136 | €24 | ▼ 82.4% |
| Recurring financial charges65 | €136 | €24 | ▼ 82.4% |
| Profit (loss) for the period before taxes9903 | €71k | €54k | ▼ 23.9% |
| Income taxes67/77 | €18k | €13k | ▼ 23.9% |
| Profit (loss) for the period9904 | €53k | €40k | ▼ 23.9% |
| Profit (loss) for the period to be appropriated9905 | €53k | €40k | ▼ 23.9% |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €1.18M | €1.23M | ▲ 4.5% |
| Fixed assets21/28 | €552k | €552k | = |
| Financial fixed assets28 | €552k | €552k | = |
| Current assets29/58 | €630k | €683k | ▲ 8.4% |
| Amounts receivable within one year40/41 | €625k | €681k | ▲ 8.8% |
| Other amounts receivable41 | €625k | €681k | ▲ 8.8% |
| Cash at bank and in hand54/58 | €4k | €2k | ▼ 51.7% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €1.18M | €1.23M | ▲ 4.5% |
| Equity10/15 | €63k | €104k | ▲ 64.1% |
| Contributions10/11 | €10k | €10k | = |
| Profit (loss) carried forward14 | €53k | €94k | ▲ 76.1% |
| Amounts payable17/49 | €1.12M | €1.13M | ▲ 1.1% |
| Amounts payable within one year42/48 | €1.12M | €1.13M | ▲ 1.1% |
| Trade debts44 | €866 | - | - |
| Suppliers440/4 | €866 | - | - |
| Taxes, remuneration and social security45 | €18k | €31k | ▲ 76.1% |
| Taxes450/3 | €18k | €31k | ▲ 76.1% |
| Other amounts payable47/48 | €1.10M | €1.10M | = |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €53k | €40k | ▼ 23.9% |
| Operating cash flow (approximation) | €53k | €40k | ▼ 23.9% |
| Investment in fixed assets (approximation) | - | €0 | - |
| Change in cash | - | €-2k | - |
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
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Equity above €100kEq €104k ▲64.1%
2 profitable years in a row build equity to €104k.
06-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 37 days late
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.
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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, Elsene · 1 establishment unit since 2022
Ground area
855 m²
Building footprint
416 m²
Volume, LiDAR
9,028 m³
2 parcels, Brussels · tallest building 32.4 m, ±10 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Thed
since 20222.332.762.007
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21447B0310/00V033 | Brussels | 433 m² | 1 · 162 m² | 15.1 m · 4 fl. |
| 21363B0354/00K003 | Brussels | 422 m² | 1 · 254 m² | 32.4 m · 10 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels 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
Founded30-05-2022
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.