THEODOR TEAM

Active

Private limited companyfounded 20187 yrs activeRue de la Place du Bois(B) 2A, 7300 Boussu, BelgiumKBO/BCE: BE 0707.979.739

The computed 12-month bankruptcy probability of THEODOR TEAM is 3.3% (moderate). The 2025 annual accounts show equity of €85k and a net result of €51k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 60% of 1520 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2025

89 / 100

Excellent▲ +46 vs 2024

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability100=

Solvency68▲+39

Growth78=

Stability100

Bankruptcy probability, 12 months

3.3% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €8k at 30 days acceptable

Liquidity tight (current ratio 1.16 against 0.62 in 2024), and 57.4% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Nine signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 10

Relative position

BE, all sectors

reference

Sector 10

higher

← fewer bankruptcies more bankruptcies →

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

42.6%

Return on assets

25.5%

Age of the figures

8 mo

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Growing equity

Equity grew over 2023-2025. Profits are largely retained rather than distributed.

NBB · annual accounts 2025

Equity per financial year

19202122232425

2019 to 2025 · latest year €85k

Filed after the deadline

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

NBB · 7 filings

Deviation from the deadline

2025

31 d late

2024

28 d late

2023

61 d late

2022

57 d late

2021

31 d late

2020

108 d late

2019

185 d late

← before the deadline after the deadline →

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 months

Position in the running window

12-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, micro schema

Equity

€85k▲ 149%

2024 · €34k

2019: €-34k 2020: €-20k 2021: €-22k 2022: €-3k 2023: €25k 2024: €34k

2019 → 2025

Total assets

€200k▲ 46.1%

2024 · €137k

2019: €76k 2020: €90k 2021: €83k 2022: €73k 2023: €98k 2024: €137k

2019 → 2025

Net result

€51k▲ 482%

2024 · €9k

2019: €-45k 2020: €14k 2021: €-2k 2022: €19k 2023: €28k 2024: €9k

2019 → 2025

Working capital

€19k

2024 · €-39k

2019: €-87k 2020: €-88k 2021: €-90k 2022: €-55k 2023: €-40k 2024: €-39k

2019 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€-22k-€-3k▲ 86.9%€25k€34k▲ 34.5%€85k▲ 149%

Operating result€-2k-€20k€36k▲ 78.1%€19k▼ 46.1%€74k▲ 283%

Net result€-2k-€19k€28k▲ 47.8%€9k▼ 69.1%€51k▲ 482%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result recovers in 2025; 2025 is 283% above 2024 and is the highest year so far.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €200k

33.1%

66.9%

Fixed assets €66k▼ 9.2%

Current assets €134k▲ 109%

Equity and liabilities €200k

42.6%

57.4%

Equity €85k▲ 149%

Debt €115k▲ 11.9%

The debt ratio falls from 75.0% to 57.4%: equity grows faster than debt.

Key figures and ratios

2025 value · change against 2024

EBITDA

€88k▲

2024 · €35k

Cash flow

€65k▲

2024 · €25k

Solvency

42.6%▲

2024 · 25.0%

Current ratio

1.16▲

2024 · 0.62

Quick ratio

1.12▲

2024 · 0.57

Debt / equity

1.35▼

2024 · 3.00

ROE

59.9%▲

2024 · 25.6%

ROA

25.5%▲

2024 · 6.4%

Interest coverage

26.54▲

2024 · 4.28

Debt

€115k▲

2024 · €103k

Debt ≤ 1 year

€115k▲

2024 · €103k

Income taxes

€20k▲

2024 · €2k

Staff costs

€150k▲

2024 · €30k

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€137k€200k▲

Fixed assets21/28€73k€66k▼

Tangible fixed assets22/27€55k€52k▼

Plant, machinery and equipment23€50k€47k▼

Furniture and vehicles24€5k€4k▼

Financial fixed assets28€18k€14k▼

Current assets29/58€64k€134k▲

Stocks and contracts in progress3€5k€5k▼

Stocks30/36€5k€5k▼

Amounts receivable within one year40/41€32k€35k▲

Trade receivables40€6k€16k▲

Other amounts receivable41€26k€20k▼

Cash at bank and in hand54/58€23k€93k▲

Deferred charges and accrued income490/1€3k€696▼

Equity and liabilities

Total equity and liabilities10/49€137k€200k▲

Equity10/15€34k€85k▲

Contributions10/11€11k€11k=

Profit (loss) carried forward14€23k€74k▲

Amounts payable17/49€103k€115k▲

Amounts payable within one year42/48€103k€115k▲

Current portion of amounts payable after more than one year42-€2k

Trade debts44€27k€34k▲

Suppliers440/4€27k€34k▲

Taxes, remuneration and social security45€13k€25k▲

Taxes450/3€10k€19k▲

Remuneration and social security454/9€3k€6k▲

Other amounts payable47/48€63k€54k▼

Income statement Code20242025

Remuneration, social security and pensions62€30k€150k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16k€14k▼

Other operating charges640/8€6k€12k▲

Non-recurring operating charges66A€3k€3k▼

Gross operating margin9900€75k€253k▲

Operating profit (loss)9901€19k€74k▲

Financial income75/76B€34-

Recurring financial income75€34-

Financial charges65/66B€8k€3k▼

Recurring financial charges65€8k€3k▼

Profit (loss) for the period before taxes9903€11k€71k▲

Income taxes67/77€2k€20k▲

Profit (loss) for the period9904€9k€51k▲

Profit (loss) for the period to be appropriated9905€9k€51k▲

Appropriation of the result

Profit (loss) to be appropriated9906€23k€74k▲

Profit (loss) brought forward from the previous period14P€14k€23k▲

The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 10Financial 3Filings 7

Next filing, fiscal year 2026, expected by 31-07-2027

2026

31-08

NBB filing Annual accounts filed

fiscal year 2025 · micro schema · 31 days late

2025

31-12

Financial Highest result since 2019net €51k ▲482%

Operating result €74k, net result €51k, both a record.

28-08

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 28 days late

2024

30-09

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 61 days late

2023

26-09

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 57 days late

2022

31-12

Financial Back to profitnet €19k

Net result €19k after one loss-making year.

31-08

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 31 days late

2021

16-11

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 108 days late

01-02

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 185 days late

2020

31-12

Financial Back to profitnet €14k

Net result €14k after one loss-making year.

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

2 directors, no change since 2024

BRASOVEANU Constantin

Director · since 12-02-2024

Current

RINZASCU Viorel Mihai

Director · since 12-02-2024

Current

12-02-2024 BRASOVEANU Constantin: Resigned as Gérant

12-02-2024 BRASOVEANU Constantin: Appointed as Director

12-02-2024 RINZASCU Viorel Mihai: Resigned as Gérant

12-02-2024 RINZASCU Viorel Mihai: Appointed as Director

Location & real-estate footprint

Registered office, Boussu · 4 establishment units since 2018

establishment approximate All 4 establishment units on the map

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.

Rue de la Place du Bois(B) 2A7300 Boussu

Ground area

1,106 m²

Building footprint

582 m²

Volume, LiDAR

3,403 m³

5 parcels, Brussels, Wallonia · tallest building 11.1 m, ±3 floors. Linked by address, not a title deed.

4 establishment units

Theodor

Ropsy Chaudronstraat 24, 1070 AnderlechtManufacture of food products

since 20182.284.536.476

Theodor

Rue Grande(SG) 1, 7330 Saint-GhislainManufacture of food products

since 20202.305.755.128

Theodor2

Bergense Steenweg 1206, 1070 AnderlechtArtisanal bread and fresh pastry making

since 20242.354.820.203

Patiseria Theodor 3

Verheydenstraat 18/28, 1070 AnderlechtRetail sale of bread and pastry (bakery outlets)

since 20242.364.118.048

5 parcels

Wallonia 2 (40%) Brussels 3 (60%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
53070B0347/00E000	Wallonia	336 m²	1 · 58 m²	11.1 m · 3 fl.
53014B1044/00M117	Wallonia	294 m²	1 · 84 m²	6.7 m · 2 fl.
21304B0122/00P006	Brussels	211 m²	1 · 202 m²	6.2 m · 1 fl.
21306D0065/00S005	Brussels	140 m²	1 · 124 m²	10.4 m · 2 fl.
21304B0036/00C005indicative	Brussels	125 m²	1 · 114 m²	10.9 m · 3 fl.