THEMCA
ActiveSummary
The computed 12-month bankruptcy probability of THEMCA is 2.1% (moderate). The 2025 annual accounts show equity of €144,467 and a net result of €14,721. Equity has been growing by about 15% per year since 2019. Its solvency ranks better than 80% of 13,741 sector peers (NACE 46, financial year 2025). The company has been active since 2016 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 22-06-2016 Normal situation
- Activity
- Wholesale trade NACE 46647and 2 others
- Joint committee
- 200 Aanvullend Paritair Comité voor de bedienden · annual accounts 31-03-2025
- Establishment unit
- 2.255.170.915 8670 Koksijde, since 22-06-2016
- Financial year end
- 31 March
- Peppol
- Reachable since 13-11-2025
Board and ownership
- DEGROOTE Claude PolDirector · since 21-11-2023
- Holdings
- Shares in 1 company A2 Advies
Financial position
- Bankruptcy probabilitywithin 12 months
- 2.1%
- Gross margin
- €31,273
- ▼ 41.4%
- Turnover
- ≈ €200,000
- estimated
- Profit
- €14,721
- ▲ 55.4%
- Equity
- €144,467
- ▲ 11.3%
- Total assets
- €186,438
- ▲ 8.8%
- Employees on 31-03-2025
- 1
- =
- 2026 accounts not filed, 4 days past the deadline
Score breakdownraises risk1 change of registered office in 24 monthsFigures for financial year 2025 (filed on 26-11-2025)Liquidity: current ratio 1.78, cash €1,632, halved1 financial year not filed after the legal deadline; last filed accounts filed 24 days lateShow the evidence
Checked score
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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 46, micro). It does better than 90% of them on solvency, 42% on liquidity, 70% on profitability and 66% on growth.
The bankruptcy probability was computed on 03-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 6 accounts on average 12 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (1)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 24 days after the deadline Filed on 24 November 2025, deadline 31 October 2025 (7 months after the close on 31 March 2025, Companies Code art. 3:10). Source: NBB, 2025-00570604.
Annual accounts 2025 filed on 24-11-2025 PDF all 8 filings
Every figure per financial year
The operating result for 2025 is 31% higher than in 2024. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Staff
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 |
| full-time | - | 0 | 0 | 0 |
| part-time | 1 | 1 | 1 | 1 |
| in full-time equivalents | 0.1 | 0.1 | 0.1 | 0.1 |
| Average over the year, in full-time equivalents | 0.1 | 0.2 | 0.1 | 0.1 |
| On a permanent contract | 1 | 1 | 1 | 1 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €66,330 | - | - | - |
| Financial fixed assets | - | - | €67,500 | - |
| Depreciation and write-downs of the year | €3,665 | €8,811 | €8,549 | €6,814 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €1,134 awarded · €1,134 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €234 | €234 |
| 2022 | 1 | €900 | €900 |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €122 | €308 | €827 | €1,121 | ▲ 35.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,304 | €3,182 | €2,967 | €3,665 | €8,811 | €8,549 | €6,814 | ▼ 20.3% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €25,000 | €25,000 | €25,000 | €0 | ▼ 100% |
| Other operating charges640/8 | - | - | - | €5,833 | €2,756 | €2,825 | €2,074 | ▼ 26.6% |
| Gross operating margin9900 | €10,412 | €59,795 | €69,946 | €58,956 | €48,514 | €53,400 | €31,273 | ▼ 41.4% |
| Operating profit (loss)9901 | €4,198 | €55,085 | €39,803 | €24,335 | €11,639 | €16,200 | €21,264 | ▲ 31.3% |
| Financial income75/76B | - | - | - | €3,744 | €3,331 | €1,914 | €1,567 | ▼ 18.1% |
| Recurring financial income75 | €1,226 | €3,295 | €5,737 | €3,744 | €3,331 | €1,914 | €1,567 | ▼ 18.1% |
| Financial charges65/66B | - | - | - | €514 | €450 | €607 | €720 | ▲ 18.6% |
| Recurring financial charges65 | €157 | €110 | €74 | €514 | €450 | €607 | €720 | ▲ 18.6% |
| Profit (loss) for the period before taxes9903 | €5,267 | €58,270 | €45,467 | €27,565 | €14,520 | €17,507 | €22,111 | ▲ 26.3% |
| Income taxes67/77 | €2,903 | €16,751 | €13,847 | €10,368 | €6,507 | €8,031 | €7,390 | ▼ 8.0% |
| Profit (loss) for the period9904 | €2,363 | €41,519 | €31,620 | €17,197 | €8,013 | €9,476 | €14,721 | ▲ 55.4% |
| Profit (loss) for the period to be appropriated9905 | €2,363 | €41,519 | €31,620 | €17,197 | €8,013 | €9,476 | €14,721 | ▲ 55.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €39,379 | €84,421 | €120,953 | €199,079 | €158,921 | €171,359 | €186,438 | ▲ 8.8% |
| Fixed assets21/28 | €4,402 | €10,902 | €11,658 | €74,322 | €65,511 | €124,463 | €115,099 | ▼ 7.5% |
| Tangible fixed assets22/27 | €1,852 | €8,352 | €9,108 | €71,772 | €62,961 | €54,413 | €47,599 | ▼ 12.5% |
| Land and buildings22 | - | - | - | €44,813 | €42,563 | €40,313 | €38,063 | ▼ 5.6% |
| Plant, machinery and equipment23 | - | - | - | €851 | €424 | €259 | €93 | ▼ 63.9% |
| Furniture and vehicles24 | - | - | - | €21,740 | €16,054 | €10,367 | €6,416 | ▼ 38.1% |
| Other tangible fixed assets26 | - | - | - | €4,368 | €3,921 | €3,474 | €3,027 | ▼ 12.9% |
| Financial fixed assets28 | €2,550 | €2,550 | €2,550 | €2,550 | €2,550 | €70,050 | €67,500 | ▼ 3.6% |
| Current assets29/58 | €34,977 | €73,519 | €109,296 | €124,757 | €93,409 | €46,896 | €71,339 | ▲ 52.1% |
| Amounts receivable within one year40/41 | €17,938 | €66,770 | €54,668 | €94,974 | €42,260 | €30,471 | €67,549 | ▲ 122% |
| Trade receivables40 | - | - | - | €47,757 | €14,463 | €14,822 | €11,322 | ▼ 23.6% |
| Other amounts receivable41 | - | - | - | €47,217 | €27,797 | €15,648 | €56,228 | ▲ 259% |
| Cash at bank and in hand54/58 | €16,834 | €6,293 | €54,627 | €28,662 | €48,534 | €15,635 | €1,632 | ▼ 89.6% |
| Deferred charges and accrued income490/1 | - | - | - | €1,121 | €2,615 | €791 | €2,158 | ▲ 173% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €39,379 | €84,421 | €120,953 | €199,079 | €158,921 | €171,359 | €186,438 | ▲ 8.8% |
| Equity10/15 | €21,921 | €63,440 | €95,060 | €112,257 | €120,270 | €129,745 | €144,467 | ▲ 11.3% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €9,521 | €51,040 | €82,660 | €99,857 | €107,870 | €117,345 | €132,067 | ▲ 12.5% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - |
| Distributable reserves133 | - | - | - | €97,997 | €106,010 | €117,345 | €132,067 | ▲ 12.5% |
| Amounts payable17/49 | €17,458 | €20,982 | €25,894 | €86,822 | €38,651 | €41,613 | €41,972 | ▲ 0.9% |
| Amounts payable after more than one year17 | - | - | - | €15,000 | €5,075 | €0 | - | - |
| Financial debts170/4 | - | - | - | €15,000 | €5,075 | €0 | - | - |
| Amounts payable within one year42/48 | €17,458 | €20,953 | €25,894 | €71,822 | €33,576 | €41,613 | €40,025 | ▼ 3.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €5,000 | €5,075 | €0 | ▼ 100% |
| Financial debts43 | - | - | - | - | - | €13,630 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | - | - | €13,630 | €0 | ▼ 100% |
| Trade debts44 | €13,677 | €3,010 | €688 | €47,692 | €5,433 | €3,999 | €12,675 | ▲ 217% |
| Suppliers440/4 | - | - | - | €47,692 | €5,433 | €3,999 | €12,675 | ▲ 217% |
| Advances received on contracts in progress46 | - | - | - | - | - | €1,815 | €7,594 | ▲ 318% |
| Taxes, remuneration and social security45 | - | - | - | €21,346 | €20,260 | €14,733 | €16,798 | ▲ 14.0% |
| Taxes450/3 | - | - | - | €21,346 | €20,260 | €14,733 | €16,798 | ▲ 14.0% |
| Other amounts payable47/48 | - | - | - | €2,784 | €2,884 | €2,362 | €2,958 | ▲ 25.2% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €1,947 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,363 | €41,519 | €31,620 | €17,197 | €8,013 | €9,476 | €14,721 | ▲ 55.4% |
| + Depreciation and write-downs630 | €4,304 | €3,182 | €2,967 | €3,665 | €8,811 | €8,549 | €6,814 | ▼ 20.3% |
| Operating cash flow (approximation) | €6,667 | €44,701 | €34,587 | €20,862 | €16,824 | €18,024 | €21,535 | ▲ 19.5% |
| Investment in fixed assets (approximation) | - | -€9,682 | -€3,723 | -€66,330 | €0 | -€67,500 | €2,550 | - |
| Change in cash | - | -€10,541 | €48,334 | -€25,966 | €19,872 | -€32,899 | -€14,003 | ▲ 57.4% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 34,693 companies had the same profile as THEMCA has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
The bankruptcy probability of THEMCA itself is higher: 2.1% within 12 months. It rests on far more data about THEMCA than the profile alone.
Test of the method
The method was tested on the 497,446 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 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 34,693 companies, not a prediction for THEMCA. 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.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | micro format | 24-11-2025 | 2025-00570604 | |
| 31-03-2024 | micro format | 04-11-2024 | 2024-00527440 | |
| 31-03-2023 | micro format | 31-10-2023 | 2023-00504014 | |
| 31-03-2022 | micro format | 25-10-2022 | 2022-20473478 | |
| 31-03-2021 | micro format | 22-11-2021 | 2021-77800591 | |
| 31-03-2020 | micro format | 30-11-2020 | 2020-74500495 | |
| 31-03-2019 | micro format | 07-11-2019 | 2019-73400300 | |
| 31-03-2018 | micro format | 26-10-2018 | 2018-70600084 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 27-11-2023 Capital stated in the deed · 186 shares
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| DEGROOTE Claude Pol |
|
Articles of association
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Alle procedure- en expertisekosten voor helft ten laste overdrager en andere helft ten laste koper(s) naar evenredigheid met door iedere…”
Articles of association, deed of 27-11-2023 (in Dutch)
Network & group
Holdings and subsidiaries
1 holdingHoldings 1
- Sourceown accounts 31-03-2025Equity -€404,329 Loss of €179,290 in 2024 (loss of €80,182 in 2023) Checked score 3350%
Connections & network
1 current directorThe network starts from the directors of THEMCA. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
02-12
Gazette deed
Registered office moved from Koksijde to OostduinkerkeNew seat: Polderstraat 94, 8670 Oostduinkerke · Previous seat: Albert I Laan(Odk) 143 bus GV01, 8670 Koksijde2 points ▸
- General meeting, 18-10-2024
- Registered-office move, Polderstraat 94,8670 Oostduinkerke
27-11
Gazette deed
Change of role: DEGROOTE Claude Pol, from manager to directorAmendment of the articles · Capital conversion · Reserve release11 points ▸
- General meeting, 21-11-2023
- Amendment of the articles, mentioned 2 times in the deed
- Capital conversion, “artikel 39, §2, tweede lid van de wet van 23-03-2019 tot invoering van het Wetboek van vennootschappen en verenigingen en houdende diverse bepalingen” (deed in Dutch)
- Reserve release, “opheffen statutair onbeschikbare eigen vermogensrekening en middelen beschikbaar maken voor uitkering, eventuele toekomstige bijstortingen van het in het verled…” (deed in Dutch)
- Capital
- Other provision, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Director resignation, DEGROOTE Claude Pol (manager)
- Director appointment, DEGROOTE Claude Pol (director (not named in the articles))
- Director discharge, DEGROOTE Claude Pol
- Registered office clause, “8670 Koksijde, Albert I Laan 143/GV01” (deed in Dutch)
- Purpose change
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
1 former office
- Albert I Laan(Odk) 143 bus GV01, 8670 Koksijde until 18-10-2024 · act of 02-12-2024
Activities
NACEBEL 2025Codes under NACEBEL 2008
19 activities
- Alle activiteiten van groot- en kleinhandel, import en export van alle soorten goederen, waaronder de installatie, onderhoud en fabricatie van installaties voor luchtregeling, klimatiseringstoestellen, installaties voor luchtzuivering, elektrische verwarmingsinstallaties, koeltoonbanken, apparaten voor de klimaatregeling, warmtepompen, koeltechniek in de meest ruime zin van het woord.
- Onderneming voor het beheer van eigen beleggingen en vermogens.
- Onderneming in onroerende goederen, welke onder meer omvat: de verwerving, vervreemding, het beheer, de borgstelling, de uitbating, de valorisatie, de verkaveling, de ordening, de huur en verhuur, het doen bouwen en verbouwen, evenals alle welkdanige onroerende verhandelingen in de meest brede zin, met inbegrip van onroerende leasing met uitsluiting van alle handelingen welke door de wet aan bepaalde beroepen zouden zijn voorbehouden.
- Het verlenen van adviezen en hulp aan het bedrijfsleven en de overheid op het gebied van planning, organisatie, efficiëntie en toezicht, het verschaffen van informatie aan de bedrijfsleiding enz.
- Managementactiviteiten van holdings: het tussenkomen in het dagelijks bestuur, het vertegenwoordigen van bedrijven op grond van het bezit op controle over het maatschappelijk kapitaal en andere.
- Alle daden van beheer, bijstand en management van industriële, handels en burgerlijke vennootschappen, zowel door rechtstreekse deelname aan het bestuur als bij wijze van managementovereenkomst, zonder dat deze opsomming beperkend is.
- Het verlenen van advies op het gebied van het beheer van human-recources en financieel management en meer in het bijzonder het aanbrengen voor een beperkte duur van managers, en het uitvoeren van opdrachten voor bestaand management in bedrijven, overheidsdiensten of organisaties.
- Het deelnemen aan herstructureringen van ondernemingen en coachen van management.
- Het verlenen en het opvolgen van adviezen in het management en voor de interne en externe ontwikkelingen van de ondernemingen, organisaties, overheidsdiensten en openbare besturen.
- Advies verlenen op het vlak van informatica en bedrijfsbeheer.
- Het geven van opleidingen en verzorgen van publicaties, onder welke vorm dan ook, met betrekking tot bovenstaande activiteiten.
- Overige activiteiten i.v.m. administratie.
- Overige gespecialiseerde wetenschappelijke en technische activiteiten
- Activiteiten van Ingenieurs en aanverwante technische adviseurs, exclusief landmeters
- Activiteiten van (gerechts-)deskundige, airco-energie-deskundige,
- Veiligheidscoördinator,
- Asbest-deskundige,
- HVAC consultant, studiebureau HVAC en nieuwe technieken
- Het uitoefenen van activiteiten met drones in de meest ruime zin
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0656.857.076
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 38018B0236/00_000 | Flanders | 418 m² | 1 · 151 m² | 10.2 m · 1 |