THEMA

Active

Public limited companyfounded 1978active for 48 yearsVierselbaan 111, 2240 Zandhoven, BelgiumKBO/BCE: BE 0418.547.278

Summary

THEMA has been active since 1978 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €9.0m and a net result of -€182,903. Equity is growing by about 38% per year across the filed financial years. Its solvency ranks better than 87% of 513 sector peers (NACE 93, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Risk analysisFollow Report Compare

THEMAActiveChecked score 93/100

Risk analysis Report Compare

Activity

Operation of sports facilities

NACE 93110

1 site

Size

≈ €490,000turnover 2025, estimated

Equity: €9.0m
Loss: -€182,903

Turnover estimated from the gross marginEquity +96%: capital increase

Financial health

93 Excellent Checked score 2025

Bankruptcy probabilitywithin 12 months: 0.1%

Structure

Parent: VITHECO · 100%

2025 accounts 4 days early1 of 9 deeds summarised

Why 93raises riskLiquidity: current ratio 1.58, cash €2,357lowers riskSize: total assets €11.3mFounded in 1978Figures for financial year 2025 (filed 27-07-2026)Show the evidence

Checked score

Score 2025

93 / 100

Excellent

Probability in this band: under 0.55%

Financially better than 70% of its sector peers (NACE 93, medium-sized)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Strong

Solvency 100+31

equity 79.6% of total assets

Liquidity 50+6

short-term debt 2.8% · cash 0.0%

Profitability 31+1

return on assets -1.6%

Bankruptcy probability, 12 months

0.1% Very low

0%0.5%1.5%4%10%≥ 25%

About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (54 companies, NACE 93, medium-sized)

Last 24 months 11-2024: < 0.1%lowest value 12-2024: < 0.1%● unchanged vs 11-2024lowest value 01-2025: < 0.1%● unchanged vs 12-2024lowest value 02-2025: < 0.1%● unchanged vs 01-2025 03-2025: < 0.1%● unchanged vs 02-2025 04-2025: < 0.1%● unchanged vs 03-2025 05-2025: 0.1%▲ +0.1 percentage points vs 04-2025 06-2025: 0.1%● unchanged vs 05-2025 07-2025: 0.1%● unchanged vs 06-2025 08-2025: 0.2%▲ +0.1 percentage points vs 07-2025 09-2025: 0.2%● unchanged vs 08-2025 10-2025: 0.2%● unchanged vs 09-2025 11-2025: 0.2%● unchanged vs 10-2025 12-2025: 0.2%● unchanged vs 11-2025 01-2026: 0.2%● unchanged vs 12-2025 02-2026: 0.2%● unchanged vs 01-2026 03-2026: 0.2%● unchanged vs 02-2026 04-2026: 0.2%● unchanged vs 03-2026 05-2026: 0.2%● unchanged vs 04-2026 06-2026: 0.2%● unchanged vs 05-2026 07-2026: 0.2%● unchanged vs 06-2026highest value 08-2026: 0.1%▼ -0.1 percentage points vs 07-2026 09-2026: 0.1%● unchanged vs 08-2026 10-2026: 0.1%● unchanged vs 09-2026

Credit of up to €800,000 on 30-day terms is acceptable

Liquidity ample (current ratio 1.58, compared with 0.04 in 2024, above the usual 1.5; short-term debt: 2.8% and cash: 0% of total assets), and 20.4% of the assets are financed with debt and provisions.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 93, medium-sized): better than 95% on solvency, 61% on liquidity, 35% on profitability and 89% on growth.

The bankruptcy probability was computed on 29-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.

lowers riskraises riskneutral

Liquidity: current ratio 1.58, cash €2,357

NBB · annual accounts

Size: total assets €11.3m

Companies of this size fail less often; how much that weighs depends on the rest of its profile.

NBB · annual accounts

Founded in 1978

Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.

KBO

Figures for financial year 2025 (filed 27-07-2026)

NBB · annual accounts

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-07-2026, 4 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

4 days early

2024

7 days early

2023

8 days early

2022

17 days early

2021

108 days early

2020

3 days early

2019

7 days early

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 22 days before the deadline; the sector median (NACE 93) for financial year 2024 is 1 day before the deadline, and 42% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 24 July (4 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Where today falls in the filing period

30-10-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

27-07-2026 Annual accounts filedfinancial year 2025 · full…
31-12-2025 Liquidity more than 38 timescurrent ratio 1.58
31-12-2025 Equity above €5mequity €9.0m ▲95.7%

Key points

Risk: 4 loss-making years in a rowloss financial year 2025 -€182,903 View
Positive: Equity rose in 2025capital increase ▲ 95.7% View
Caution: Among the weakest 15% on net resultsector median €11,977 · 512 companies -€182,903 View
Positive: Filed on time since financial year 2018accounts within the deadline every year 8 years View
Controlled by VITHECO 100% View
Active since 1978founded 24-05-1978 48 years View

By topic

Financials

Financial year: 2025
Total assets: €11.3m
Loss: -€182,903
Solvency: 79.6%

Total assets▲ 9.4%

Net result

20182025

Go to Financials

Board & ownership

Parent: VITHECO · 100%

Go to Board & ownership

Timeline

Events: 54
Since: 1980
Next accounts: by 31-07-2027

12-09-2025Capital & shares
24-07-2025Annual accounts filed
23-07-2024Annual accounts filed

Go to Timeline

Company details

Sites: 1

Legal form: Public limited company
Activity: Operation of sports facilitiesNACE 93110
Founded: 24-05-1978
Year ends: 31-12
Peppol: Reachable for e-invoices

Go to Company details

Key facts about THEMA

What is the company number of THEMA?: 0418.547.278. In Belgium the VAT number is the company number with BE in front: BE 0418.547.278.
Where is THEMA based?: The registered office is at Vierselbaan 111, 2240 Zandhoven.Company details
What does THEMA do?: According to the KBO register, the main activity is operation of sports facilities (NACE 93110).
What is the legal form of THEMA?: Public limited company (NV).
When was THEMA founded?: On 24-05-1978.
Is THEMA still active?: Yes, THEMA is an active enterprise in the KBO register.
How many employees does THEMA have?: On average 1.5 full-time equivalents in financial year 2021, according to the filed annual accounts.Financials
What is the turnover of THEMA?: Not stated in the processed annual accounts. The abridged format for small companies does not require turnover.
Is THEMA profitable?: In financial year 2025, THEMA made a loss of €182,903.
Where can I find the annual accounts of THEMA?: THEMA filed 48 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of THEMA due?: By 31-07-2027, for financial year 2026.Timeline