THEMAR
ActiveTHEMAR has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.02M and a net result of €125k. Equity is growing by ~14.4% per year across the filed fiscal years. Its solvency ranks better than 72% of 7689 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
100
/ 100
Excellent▲ +4 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability61▼-2
Solvency95▲+11
Growth78=
Stability100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100k at 30 days acceptable
Liquidity ample (current ratio 1.76 against 1.29 in 2024), and 26.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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
Sector 82
lower
← fewer bankruptcies
more bankruptcies →
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
73.7%
Return on assets
9%
Age of the figures
8 mo
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 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
21 d late
2023
30 d late
2022
30 d late
2021
29 d late
2020
27 d late
2019
54 d late
← before the deadline
after the deadline →
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
14-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€1.02M▲ 13.9%
2024 · €899k
2018: €409k
2019: €456k
2020: €510k
2021: €582k
2022: €677k
2023: €786k
2024: €899k
2018 → 2025
Total assets
€1.39M▲ 4.5%
2024 · €1.33M
2018: €1.17M
2019: €1.12M
2020: €1.08M
2021: €1.26M
2022: €1.26M
2023: €1.26M
2024: €1.33M
2018 → 2025
Net result
€125k▲ 10.4%
2024 · €113k
2018: €77k
2019: €47k
2020: €53k
2021: €72k
2022: €96k
2023: €108k
2024: €113k
2018 → 2025
Working capital
€253k▲ 138%
2024 · €107k
2018: €-216k
2019: €-216k
2020: €-158k
2021: €-64k
2022: €-120k
2023: €-22k
2024: €107k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€582k-€677k▲ 16.4%€786k▲ 16.0%€899k▲ 14.4%€1.02M▲ 13.9%
Operating result€126k-€158k▲ 25.4%€180k▲ 13.6%€190k▲ 5.4%€202k▲ 6.6%
Net result€72k-€96k▲ 32.1%€108k▲ 13.5%€113k▲ 4.4%€125k▲ 10.4%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 7% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.39M
Fixed assets
€801k▼ 6.4%
Current assets
€588k▲ 24.3%
Equity and liabilities €1.39M
Equity
€1.02M▲ 13.9%
Debt
€365k▼ 15.1%
The debt ratio falls from 32.3% to 26.3%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€269k▲
2024 · €256k
Cash flow
€191k▲
2024 · €179k
Solvency
73.7%▲
2024 · 67.7%
Current ratio
1.76▲
2024 · 1.29
Quick ratio
1.76▲
2024 · 1.29
Debt / equity
0.36▼
2024 · 0.48
ROE
12.2%▼
2024 · 12.6%
ROA
9.0%▲
2024 · 8.5%
Interest coverage
13.37▲
2024 · 10.98
Debt
€365k▼
2024 · €430k
Debt ≤ 1 year
€334k▼
2024 · €366k
Debt > 1 year
€31k▼
2024 · €64k
Income taxes
€60k▲
2024 · €55k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.33M€1.39M▲
Fixed assets21/28€857k€801k▼
Tangible fixed assets22/27€857k€801k▼
Land and buildings22€814k€765k▼
Furniture and vehicles24€42k€36k▼
Current assets29/58€473k€588k▲
Amounts receivable within one year40/41€37k€47k▲
Trade receivables40€22k€22k▼
Other amounts receivable41€15k€26k▲
Cash at bank and in hand54/58€433k€538k▲
Deferred charges and accrued income490/1€2k€3k▲
Equity and liabilities
Total equity and liabilities10/49€1.33M€1.39M▲
Equity10/15€899k€1.02M▲
Contributions10/11€133k€133k=
Reserves13€766k€891k▲
Tax-exempt reserves132€4k€4k=
Distributable reserves133€762k€887k▲
Profit (loss) carried forward14€998€998=
Amounts payable17/49€430k€365k▼
Amounts payable after more than one year17€64k€31k▼
Financial debts170/4€64k€31k▼
Amounts payable within one year42/48€366k€334k▼
Current portion of amounts payable after more than one year42€51k€33k▼
Trade debts44€4k€4k▼
Suppliers440/4€4k€4k▼
Taxes, remuneration and social security45€42k€50k▲
Taxes450/3€42k€50k▲
Other amounts payable47/48€270k€247k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€66k€67k▲
Other operating charges640/8€6k€6k▼
Gross operating margin9900€262k€275k▲
Operating profit (loss)9901€190k€202k▲
Financial income75/76B€1k€3k▲
Recurring financial income75€1k€3k▲
Financial charges65/66B€23k€20k▼
Recurring financial charges65€23k€20k▼
Profit (loss) for the period before taxes9903€168k€185k▲
Income taxes67/77€55k€60k▲
Profit (loss) for the period9904€113k€125k▲
Profit (loss) for the period to be appropriated9905€113k€125k▲
Appropriation of the result
Profit (loss) to be appropriated9906€114k€126k▲
Profit (loss) brought forward from the previous period14P€998€998=
Transfer to equity691/2€113k€125k▲
To other reserves6921€113k€125k▲
The notes to these accounts (6 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
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €125k ▲10.4%
Operating result €202k, net result €125k, both a record.
31-12
Financial
Equity above €1MEq €1.02M ▲13.9%
8 profitable years in a row build equity to €1.02M.
21-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 21 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
31-12
Financial
Equity above €500kEq €510k ▲11.7%
3 profitable years in a row build equity to €510k.
23-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 54 days late
2019
31-12
Financial
Weakest financial yearnet €47k ▼39.5%
Net result drops to €47k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Ninove · 1 establishment unit since 2004
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.
Vogelzangstraat(Ned) 169400 NinoveGround area
2,862 m²
Building footprint
292 m²
Parcel 41044B0422/00F000, Flanders. Linked by address, not a title deed.
1 establishment unit
Vogelzangstraat(Ned) 16, 9400 Ninove
since 20042.228.516.008
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41044B0422/00F000 | Flanders | 2,862 m² | 1 · 292 m² | - |
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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 966 EUR awarded · 966 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 780 EUR | 780 EUR |
| 2022 | 1 | 186 EUR | 186 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
AIRINC EUROPE
BE 0475.554.277
Elsene · Eq €1.02M
4CforYou
BE 0696.610.250
Sint-Katelijne-Waver · Eq €1.02M
Delta Sierra
BE 0833.305.026
Roosdaal · Eq €1.03M
IMMOBILIERE CRETS - DELPIRE - BRICHANT
BE 0460.492.553
Ham-sur-Heure-Nalinnes · Eq €1.03M
LEMPERTZ 1798
BE 0476.706.696
Brussel · Eq €1.02M
Of 24,423 companies in sector 82990 we hold annual accounts for 9,361. 4,483 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded07-06-1999
Fiscal year end31-12
Activities, NACEBEL
70120
82990Other business support services
68110Buying and selling of own real estate
82100Office administrative and support services
82110Office administrative, office support and other business support activities
Sources
Crossroads Bank for EnterprisesNational Bank · 26 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryPhone:0494547133