THELIMAR
ActiveSummary
THELIMAR has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €930,937 and a net result of €373,784. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 41% of 2310 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability82▼-1
Solvency57▲+13
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65,000 at 30 days acceptable
Liquidity short (current ratio 0.47 against 0.23 in 2024; short-term debt: 24.2% and cash: 9.5% of total assets), and 68.5% 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
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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer 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 2025Solvency, return and age of the figures
Solvency
31.5%
Return on assets
12.7%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
202122232425
2020 to 2025 · latest year €930,937
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 15-07-2026, 16 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
16 d early
2024
37 d early
2023
8 d early
2022
on the day
2021
31 d late
2020
1 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 5 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% 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. Usually files around 24 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€373,784▲ 15.0%
2024 · €324,922
Working capital
-€381,221▲ 44.8%
2024 · -€690,295
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€68,369€133,611▲ 95.4%€151,019▲ 13.0%€201,378▲ 33.3%€286,673▲ 42.4%
Net result€51,911within the sector's middle half€95,198within the sector's middle half▲ 83.4%€97,985within the sector's middle half▲ 2.9%€324,922above the sector's middle half▲ 232%€373,784above the sector's middle half▲ 15.0%
Equity€39,049below the sector's middle half€134,247within the sector's middle half▲ 244%€232,232within the sector's middle half▲ 73.0%€557,153within the sector's middle half▲ 140%€930,937above the sector's middle half▲ 67.1%
Total assets€1.5mwithin the sector's middle half▲ 216%€2.3mwithin the sector's middle half▲ 57.8%€3.0mwithin the sector's middle half▲ 25.8%€2.9mwithin the sector's middle half▼ 1.9%€3.0mabove the sector's middle half▲ 2.1%
Debt€1.4m▲ 199%€2.2m▲ 52.8%€2.7m▲ 22.9%€2.3m▼ 14.0%€2.0m▼ 13.4%
Working capital-€566,330below the sector's middle half▼ 690%-€719,482below the sector's middle half▼ 27.0%-€890,588below the sector's middle half▼ 23.8%-€690,295below the sector's middle half▲ 22.5%-€381,221below the sector's middle half▲ 44.8%
Solvency2.6%below the sector's middle half▲ 5.4pp5.7%below the sector's middle half▲ 3.1pp7.9%below the sector's middle half▲ 2.1pp19.3%within the sector's middle half▲ 11.4pp31.5%within the sector's middle half▲ 12.3pp
Current ratio0.13below the sector's middle half▼ 0.130.25below the sector's middle half▲ 0.120.22below the sector's middle half▼ 0.030.23below the sector's middle half▲ 0.010.47below the sector's middle half▲ 0.23
Return on assets (ROA)3.5%within the sector's middle half▲ 7.3pp4.1%within the sector's middle half▲ 0.6pp3.3%within the sector's middle half▼ 0.7pp11.2%above the sector's middle half▲ 7.9pp12.7%within the sector's middle half▲ 1.4pp
Staff (FTE)0below the sector's middle half0below the sector's middle half0below the sector's middle half0within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 42% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.0m
Fixed assets
€2.6m ▼ 2.4%
Current assets
€334,557 ▲ 58.9%
Equity and liabilities €3.0m
Equity
€930,937 ▲ 67.1%
Debt
€2.0m ▼ 13.4%
Debt's share of the balance-sheet total falls from 80.7% to 68.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€353,638▲
2024 · €263,604
Cash flow
€440,749▲
2024 · €387,148
Debt to equity
2.17▼
2024 · 4.19
ROE
40.2%▼
2024 · 58.3%
Interest coverage
5.75▼
2024 · 6.20
Debt ≤ 1 year
€715,778▼
2024 · €900,901
Debt > 1 year
€1.3m▼
2024 · €1.4m
Income taxes
€51,360▲
2024 · €33,933
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,781 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
2.7%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 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% | 1.9% |
| 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 6,781 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €43,965 | €34,612 | €33,983 | €62,226 | €66,965 | ▲ 7.6% |
| Other operating charges640/8 | €7,454 | €9,125 | €84,019 | €14,252 | €14,248 | = |
| Non-recurring operating charges66A | - | - | €1,837 | €0 | - | - |
| Gross operating margin9900 | €119,788 | €177,348 | €270,858 | €277,855 | €367,886 | ▲ 32.4% |
| Operating profit (loss)9901 | €68,369 | €133,611 | €151,019 | €201,378 | €286,673 | ▲ 42.4% |
| Financial income75/76B | €0 | €4 | €0 | €200,000 | €200,000 | = |
| Recurring financial income75 | €0 | €4 | €0 | €200,000 | €200,000 | = |
| Financial charges65/66B | €7,284 | €11,352 | €25,983 | €42,523 | €61,529 | ▲ 44.7% |
| Recurring financial charges65 | €7,284 | €11,352 | €25,983 | €42,523 | €61,529 | ▲ 44.7% |
| Profit (loss) for the period before taxes9903 | €61,086 | €122,263 | €125,036 | €358,854 | €425,143 | ▲ 18.5% |
| Income taxes67/77 | €9,175 | €27,066 | €27,051 | €33,933 | €51,360 | ▲ 51.4% |
| Profit (loss) for the period9904 | €51,911 | €95,198 | €97,985 | €324,922 | €373,784 | ▲ 15.0% |
| Profit (loss) for the period to be appropriated9905 | €51,911 | €95,198 | €97,985 | €324,922 | €373,784 | ▲ 15.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.5m | €2.3m | €3.0m | €2.9m | €3.0m | ▲ 2.1% |
| Formation expenses20 | €0 | - | - | - | - | - |
| Fixed assets21/28 | €1.4m | €2.1m | €2.7m | €2.7m | €2.6m | ▼ 2.4% |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €402,456 | €1.1m | €1.7m | €1.7m | €1.6m | ▼ 3.8% |
| Land and buildings22 | €397,076 | €1.1m | €1.6m | €1.6m | €1.5m | ▼ 3.2% |
| Plant, machinery and equipment23 | - | - | - | €48,567 | €47,094 | ▼ 3.0% |
| Furniture and vehicles24 | €5,380 | €6,747 | €47,688 | €36,351 | €25,382 | ▼ 30.2% |
| Financial fixed assets28 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Current assets29/58 | €84,073 | €241,502 | €253,351 | €210,605 | €334,557 | ▲ 58.9% |
| Amounts receivable within one year40/41 | €33,196 | €97,250 | €191,925 | €45,462 | €42,397 | ▼ 6.7% |
| Trade receivables40 | €31,246 | €92,366 | €162,917 | €2,425 | €42,229 | ▲ 1,641% |
| Other amounts receivable41 | €1,950 | €4,885 | €29,008 | €43,037 | €168 | ▼ 99.6% |
| Cash at bank and in hand54/58 | €48,617 | €141,558 | €59,686 | €92,873 | €281,829 | ▲ 203% |
| Deferred charges and accrued income490/1 | €2,259 | €2,693 | €1,739 | €72,271 | €10,332 | ▼ 85.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.5m | €2.3m | €3.0m | €2.9m | €3.0m | ▲ 2.1% |
| Equity10/15 | €39,049 | €134,247 | €232,232 | €557,153 | €930,937 | ▲ 67.1% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €34,049 | €129,247 | €227,232 | €552,153 | €925,937 | ▲ 67.7% |
| Distributable reserves133 | €34,049 | €129,247 | €227,232 | €552,153 | €925,937 | ▲ 67.7% |
| Profit (loss) carried forward14 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €1.4m | €2.2m | €2.7m | €2.3m | €2.0m | ▼ 13.4% |
| Amounts payable after more than one year17 | €794,999 | €1.3m | €1.6m | €1.4m | €1.3m | ▼ 9.8% |
| Financial debts170/4 | €794,999 | €1.3m | €1.6m | €1.4m | €1.3m | ▼ 9.8% |
| Amounts payable within one year42/48 | €650,403 | €960,984 | €1.1m | €900,901 | €715,778 | ▼ 20.5% |
| Current portion of amounts payable after more than one year42 | €67,759 | €94,524 | €126,147 | €138,275 | €141,409 | ▲ 2.3% |
| Trade debts44 | €5,163 | €92,380 | €81,179 | €53,403 | €11,747 | ▼ 78.0% |
| Suppliers440/4 | €5,163 | €92,380 | €81,179 | €53,403 | €11,747 | ▼ 78.0% |
| Taxes, remuneration and social security45 | €14,224 | €14,742 | €27,398 | €8 | €31,339 | ▲ 415,542% |
| Taxes450/3 | €14,224 | €14,742 | €27,398 | €8 | €31,339 | ▲ 415,542% |
| Other amounts payable47/48 | €563,257 | €759,339 | €909,215 | €709,215 | €531,283 | ▼ 25.1% |
| Accrued charges and deferred income492/3 | €2,079 | €0 | - | - | €13,383 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €51,911 | €95,198 | €97,985 | €324,922 | €373,784 | ▲ 15.0% |
| + Depreciation and write-downs630 | €43,965 | €34,612 | €33,983 | €62,226 | €66,965 | ▲ 7.6% |
| Operating cash flow (approximation) | €95,876 | €129,810 | €131,968 | €387,148 | €440,749 | ▲ 13.8% |
| Investment in fixed assets (approximation) | - | -€736,360 | -€626,926 | -€48,580 | -€3,649 | ▲ 92.5% |
| Change in cash | - | €92,941 | -€81,872 | €33,187 | €188,956 | ▲ 469% |
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
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2020net €373,784 ▲15%
Operating result €286,673, net result €373,784, both a record.
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Equity above €500,000Eq €557,153 ▲140%
4 profitable years in a row build equity to €557,153.
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Equity above €200,000Eq €232,232 ▲73%
3 profitable years in a row build equity to €232,232.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Equity above €100,000Eq €134,247 ▲244%
2 profitable years in a row build equity to €134,247.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-12
Financial
Back to profitnet €51,911
Net result €51,911 after one loss-making year.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Tinlot · 1 establishment unit since 2020
Ground area
2.7 ha
Building footprint
8 m²
Volume, LiDAR
150 m³
Parcel 61057B0011/00S002, Wallonia · tallest building 21.2 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
THELIMAR
since 20202.299.988.873
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 61057B0011/00S002 | Wallonia | 2.7 ha | 1 · 8 m² | 21.2 m · 6 fl. |
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
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
100%
According to the 2025 annual accounts of THELIMAR 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 24,518 companies in sector 82990 we hold annual accounts for 9,421. 4,696 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
Founded26-02-2020
Fiscal year end31-12
Activities, NACEBEL 2025
82990Other business support services
64210Activities of holding companies
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
70100Activities of head offices
E-invoicing
Reachable via Peppol
Peppol ID
0208:0744475691
Registered
15-05-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.