Debts
Of this, €166,820 falls due within a year.
Of this, €166,820 falls due within a year.
THEMAVIC pays its suppliers 36 days earlier than in 2024.
The 2023 accounts came latest: 65 days after the end of the period.
In July 2024, 3,985 companies had the same profile as THEMAVIC has now. Each dot stands for 10 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,331 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,985 companies, not a prediction for THEMAVIC. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
| Company | ||||
|---|---|---|---|---|
| THEMAVIC Schaerbeek | €268,910 | €24,016 | 12.7% | - |
| PHOTOGRAPHIC ART Meerhout | €284,462 | €23,973 | 56.2% | - |
| FOTOSTUDIO LEEMANS Leuven | €313,633 | €34,391 | 25.9% | - |
| FRANK GIELEN Hasselt | €227,558 | €17,854 | 82.8% | - |
| DFG Ternat | €210,298 | €33,659 | 47.3% | - |
| BLACK & WRITE Waterloo | €223,787 | €36,915 | 67.6% | - |
| Condor International Ltd Vorselaar | €178,726 | €24,036 | 72.9% | - |
These companies have the same main activity as THEMAVIC: photography, excluding press photography (NACE 74201). They are comparable in size and age: total assets between €179,000 and €314,000, founded between 1987 and 1999.
THEMAVIC files the micro format. That format states no turnover. The gross margin rose from €21,645 in 2022 to €24,016 in 2025.
The balance sheet grew most in 2023 through fixed assets.
holds 98% of the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €150,000. Estimated: probably between €74,000 and €270,000.
Higher than 22% of 4,561 companies in 2025.
Lower than 95% of 4,377 companies in 2025.
Higher than 28% of 4,412 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: top quarter · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
268,910 | 284,194 | 302,008 | 74,844 | |
21/28 |
266,340 | 282,090 | 295,242 | 53,409 | |
22/27 |
266,340 | 282,090 | 295,242 | 53,409 | |
22 |
265,452 | 280,355 | 295,242 | 53,409 | |
26 |
888 | 1,735 | - | - | |
29/58 |
2,571 | 2,104 | 6,765 | 21,435 | |
40/41 |
1,013 | - | - | 860 | |
40 |
1,013 | - | - | 860 | |
54/58 |
1,557 | 2,104 | 5,933 | 20,575 | |
490/1 |
- | - | 832 | - | |
| Balance sheet: equity and liabilities | |||||
10/49 |
268,910 | 284,194 | 302,008 | 74,844 | |
10/15 |
34,144 | 34,130 | 32,656 | 31,161 | |
10/11 |
1,239 | 1,239 | 1,239 | 1,239 | |
10 |
- | - | - | 1,239 | |
100 |
- | - | - | 1,239 | |
13 |
31,124 | 31,124 | 31,124 | 124 | |
130/1 |
- | - | - | 124 | |
130 |
- | - | - | 124 | |
133 |
31,124 | 31,124 | 31,124 | - | |
14 |
1,781 | 1,767 | 292 | 29,797 | |
17/49 |
234,766 | 250,064 | 269,352 | 43,683 | |
17 |
67,835 | 78,572 | 101,062 | 31,794 | |
170/4 |
65,585 | 76,322 | 96,667 | 29,544 | |
178/9 |
2,250 | 2,250 | 4,395 | 2,250 | |
42/48 |
166,820 | 171,492 | 168,290 | 11,889 | |
42 |
10,737 | 10,356 | 483 | 3,830 | |
44 |
6 | 737 | - | - | |
440/4 |
6 | 737 | - | - | |
45 |
816 | 513 | 3,439 | 3,000 | |
450/3 |
816 | 513 | 3,439 | 3,000 | |
47/48 |
155,261 | 159,886 | 164,368 | 5,059 | |
492/3 |
111 | - | - | - | |
| Income statement | |||||
76A |
932 | - | - | - | |
9900 |
24,016 | 23,103 | 19,342 | 21,645 | |
60/61 |
7,516 | 7,497 | - | 8,655 | |
630 |
15,750 | 15,694 | 8,790 | 3,617 | |
640/8 |
4,115 | 1,723 | 5,849 | 1,913 | |
66A |
210 | 264 | - | - | |
9901 |
3,941 | 5,423 | 4,703 | 16,115 | |
75/76B |
6 | 0 | 0 | - | |
75 |
6 | 0 | 0 | - | |
65/66B |
3,840 | 3,463 | 2,769 | 1,082 | |
65 |
3,840 | 3,463 | 2,769 | 1,082 | |
9903 |
107 | 1,960 | 1,934 | 15,032 | |
67/77 |
93 | 486 | 439 | 3,000 | |
9904 |
14 | 1,474 | 1,495 | 12,032 | |
9905 |
14 | 1,474 | 1,495 | 12,032 | |
| Appropriation of the result | |||||
9906 |
1,781 | 1,767 | 31,292 | 29,797 | |
14P |
1,767 | 292 | 29,797 | 17,765 | |
691/2 |
- | - | 31,000 | - | |
6921 |
- | - | 31,000 | - | |
| Document | |||||
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 27-08-2026.
2025 annual accounts filed 27 days after the deadline. Filed on 27 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00432489.
| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| 19,691 | 21,117 | 13,493 | 19,732 | ||
| 15,764 | 17,168 | 10,285 | 15,650 | ||
| 0 | 2,541 | 249,425 | - | ||
| -547 | -3,829 | -14,642 | - | ||
| -164,249 | -169,388 | -161,524 | 9,546 | ||
| 12.7% | 12.0% | 10.8% | 41.6% | ||
| 0.02 | 0.01 | 0.04 | 1.80 | ||
| 6.88 | 7.33 | 8.25 | 1.40 | ||
| 0.0% | 4.3% | 4.6% | 38.6% | ||
| 0.0% | 0.5% | 0.5% | 16.1% | ||
| 5.13 | 6.10 | 4.87 | 18.23 | ||
| 0 days | 36 days | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Mortgages, amount registered | - | - | - | €68,000 |
| Carrying value of the mortgaged assets | - | - | - | €53,409 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | €2,541 | €249,425 | - |
| €15,750 | €15,694 | €8,790 | €3,617 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 27% lower than in 2024 and the lowest since 2022.
Debt's share of the balance-sheet total falls from 88.0% to 87.3%. Debt is lower.
Source: lists of holdings in the owners' accounts
Source: list of holdings in the 2021 accounts of . Every holding stands with its own latest accounts.
| Ghannem, Nader (sole trader)
establishment since 01-07-2026 |
founded in 2026 1038.885.143 |
| Gherasim, Costel (sole trader)
establishment since 15-01-2024 |
founded in 2024 1004.455.784 |
| ProPulse ASBL
registered office since 01-05-2018 |
founded in 2018 0692.855.261 |
| Association des copropriétaires de la résidence " Clichy" sis à 1030 Schaerbeek, rue Henri Chômé 56
registered office since 20-03-1967 |
founded in 1967 0848.570.747 |
The network starts from the directors of THEMAVIC. Every other company they run is a node.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Henri Choméstraat 56 registered office 1030 Schaerbeek | ||
| Avenue Balzac 10 1300 Wavre 1813005 Pre-press and pre-media services | 20-01-1992 | 2.055.741.883 |
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 25772H0069/00P007 | Wallonia | 1,707 m² | 1 · 124 m² | 9.7 m · 2 |
| 21904B0399/00T010 | Brussels | 165 m² | 1 · 127 m² | 16.5 m · 5 |
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