THERAYMI
ActiveSummary
THERAYMI has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €27k and a net result of €14k. Equity is shrinking by ~19.8% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 26% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71=
Solvency29▲+2
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity short (current ratio 0.86 against 0.92 in 2024; short-term debt: 23.7% and cash: 0.1% of total assets), and 95.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← 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
4.2%
Return on assets
2.1%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €27k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 23-09-2026, 54 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 · 10 filingsDeviation from the deadline
2025
54 d late
2024
34 d late
2023
30 d late
2022
31 d late
2021
5 d early
2020
30 d late
2019
36 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€27k▲ 104%
2024 · €13k
2018: €51khighest in 8 years
2019: €42k▼ -17.2% vs 2018
2020: €43k▲ +1.5% vs 2019
2021: €35k▼ -19.6% vs 2020
2022: €16k▼ -52.7% vs 2021
2023: €485▼ -97.0% vs 2022lowest in 8 years
2024: €13k▲ +2633% vs 2023
2025: €27k▲ +104% vs 2024
2018 → 2025
Total assets
€648k▼ 0.9%
2024 · €654k
2018: €55k
2019: €46k▼ -16.1% vs 2018lowest in 8 years
2020: €49k▲ +6.2% vs 2019
2021: €77k▲ +56.9% vs 2020
2022: €611k▲ +692% vs 2021
2023: €650k▲ +6.3% vs 2022
2024: €654k▲ +0.7% vs 2023highest in 8 years
2025: €648k▼ -0.9% vs 2024
2018 → 2025
Net result
€14k▲ 7.7%
2024 · €13k
2018: €-4k
2019: €-9k▼ -122% vs 2018
2020: €646▲ +107% vs 2019
2021: €-8k▼ -1411% vs 2020
2022: €-18k▼ -116% vs 2021lowest in 8 years
2023: €-16k▲ +13.0% vs 2022
2024: €13k▲ +180% vs 2023
2025: €14k▲ +7.7% vs 2024highest in 8 years
2018 → 2025
Working capital
€-22k▼ 104%
2024 · €-11k
2018: €14k
2019: €12k▼ -13.1% vs 2018
2020: €20k▲ +63.9% vs 2019
2021: €3k▼ -85.8% vs 2020
2022: €27k▲ +837% vs 2021
2023: €30k▲ +12.0% vs 2022highest in 8 years
2024: €-11k▼ -136% vs 2023
2025: €-22k▼ -104% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€35k-€16k▼ 52.7%€485▼ 97.0%€13k▲ 2,633%€27k▲ 104%
2021: €35khighest in 5 years
2022: €16k▼ -52.7% vs 2021
2023: €485▼ -97.0% vs 2022lowest in 5 years
2024: €13k▲ +2633% vs 2023
2025: €27k▲ +104% vs 2024
Operating result€-8k-€-13k▼ 50.8%€-8k▲ 34.6%€21k€22k▲ 7.4%
2021: €-8k
2022: €-13k▼ -50.8% vs 2021lowest in 5 years
2023: €-8k▲ +34.6% vs 2022
2024: €21k▲ +351% vs 2023
2025: €22k▲ +7.4% vs 2024highest in 5 years
Net result€-8k-€-18k▼ 116%€-16k▲ 13.0%€13k€14k▲ 7.7%
2021: €-8k
2022: €-18k▼ -116% vs 2021lowest in 5 years
2023: €-16k▲ +13.0% vs 2022
2024: €13k▲ +180% vs 2023
2025: €14k▲ +7.7% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 7% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €648k
Fixed assets
€516k ▼ 2.8%
Current assets
€132k ▲ 7.3%
Equity and liabilities €648k
Equity
€27k ▲ 104%
Debt
€621k ▼ 3.1%
Debt's share of the balance-sheet total falls from 98.0% to 95.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€64k▲
2024 · €56k
Cash flow
€56k▲
2024 · €47k
Current ratio
0.86▼
2024 · 0.92
Debt to equity
23.00▼
2024 · 48.37
ROE
50.9%▼
2024 · 96.3%
ROA
2.1%▲
2024 · 2.0%
Interest coverage
7.44▲
2024 · 6.87
Debt ≤ 1 year
€154k▲
2024 · €134k
Debt > 1 year
€467k▼
2024 · €495k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines
Balance sheet
Code20242025
Assets
Total assets20/58€654k€648k▼
Fixed assets21/28€531k€516k▼
Tangible fixed assets22/27€528k€516k▼
Land and buildings22€391k€368k▼
Plant, machinery and equipment23€108k€97k▼
Leasing and similar rights25€28k€50k▲
Financial fixed assets28€3k-
Current assets29/58€123k€132k▲
Amounts receivable within one year40/41€121k€130k▲
Trade receivables40€66k€71k▲
Other amounts receivable41€55k€60k▲
Cash at bank and in hand54/58€354€458▲
Deferred charges and accrued income490/1€2k€1k▼
Equity and liabilities
Total equity and liabilities10/49€654k€648k▼
Equity10/15€13k€27k▲
Contributions10/11€37k€37k=
Reserves13€4k€4k=
Non-distributable reserves130/1€4k€4k=
Reserves not available under the articles1311€4k€4k=
Profit (loss) carried forward14€-28k€-14k▲
Amounts payable17/49€641k€621k▼
Amounts payable after more than one year17€495k€467k▼
Financial debts170/4€495k€467k▼
Amounts payable within one year42/48€134k€154k▲
Current portion of amounts payable after more than one year42€45k€49k▲
Financial debts43€8k€9k▲
Credit institutions430/8€8k€9k▲
Trade debts44€6k€17k▲
Suppliers440/4€6k€17k▲
Advances received on contracts in progress46€6k-
Taxes, remuneration and social security45€10k€9k▼
Taxes450/3€10k€9k▼
Other amounts payable47/48€60k€70k▲
Accrued charges and deferred income492/3€12k-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€35k€42k▲
Other operating charges640/8€8k€4k▼
Gross operating margin9900€64k€68k▲
Operating profit (loss)9901€21k€22k▲
Financial income75/76B-€1
Recurring financial income75-€1
Financial charges65/66B€8k€9k▲
Recurring financial charges65€8k€9k▲
Profit (loss) for the period before taxes9903€13k€14k▲
Profit (loss) for the period9904€13k€14k▲
Profit (loss) for the period to be appropriated9905€13k€14k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-28k€-14k▲
Profit (loss) brought forward from the previous period14P€-40k€-28k▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6k | €20k | €33k | €35k | €42k | ▲ 20.7% |
| Other operating charges640/8 | €4k | €6k | €4k | €8k | €4k | ▼ 50.6% |
| Gross operating margin9900 | €2k | €13k | €29k | €64k | €68k | ▲ 6.9% |
| Operating profit (loss)9901 | €-8k | €-13k | €-8k | €21k | €22k | ▲ 7.4% |
| Financial income75/76B | - | - | - | - | €1 | - |
| Recurring financial income75 | - | - | - | - | €1 | - |
| Financial charges65/66B | €47 | €6k | €8k | €8k | €9k | ▲ 6.8% |
| Recurring financial charges65 | €47 | €6k | €8k | €8k | €9k | ▲ 6.8% |
| Profit (loss) for the period before taxes9903 | €-8k | €-18k | €-16k | €13k | €14k | ▲ 7.7% |
| Profit (loss) for the period9904 | €-8k | €-18k | €-16k | €13k | €14k | ▲ 7.7% |
| Profit (loss) for the period to be appropriated9905 | €-8k | €-18k | €-16k | €13k | €14k | ▲ 7.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €77k | €611k | €650k | €654k | €648k | ▼ 0.9% |
| Fixed assets21/28 | €32k | €510k | €519k | €531k | €516k | ▼ 2.8% |
| Tangible fixed assets22/27 | €32k | €510k | €519k | €528k | €516k | ▼ 2.3% |
| Land and buildings22 | €32k | €387k | €395k | €391k | €368k | ▼ 5.9% |
| Plant, machinery and equipment23 | - | €123k | €124k | €108k | €97k | ▼ 9.9% |
| Leasing and similar rights25 | - | - | - | €28k | €50k | ▲ 76.0% |
| Financial fixed assets28 | - | - | - | €3k | - | - |
| Current assets29/58 | €45k | €102k | €131k | €123k | €132k | ▲ 7.3% |
| Amounts receivable within one year40/41 | €43k | €100k | €131k | €121k | €130k | ▲ 8.2% |
| Trade receivables40 | €2k | €36k | €75k | €66k | €71k | ▲ 7.4% |
| Other amounts receivable41 | €41k | €64k | €56k | €55k | €60k | ▲ 9.1% |
| Cash at bank and in hand54/58 | €2k | €452 | €234 | €354 | €458 | ▲ 29.5% |
| Deferred charges and accrued income490/1 | - | €1k | - | €2k | €1k | ▼ 45.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €77k | €611k | €650k | €654k | €648k | ▼ 0.9% |
| Equity10/15 | €35k | €16k | €485 | €13k | €27k | ▲ 104% |
| Contributions10/11 | €37k | €37k | €37k | €37k | €37k | = |
| Reserves13 | €4k | €4k | €4k | €4k | €4k | = |
| Non-distributable reserves130/1 | €4k | €4k | €4k | €4k | €4k | = |
| Reserves not available under the articles1311 | €4k | €4k | €4k | €4k | €4k | = |
| Profit (loss) carried forward14 | €-6k | €-25k | €-40k | €-28k | €-14k | ▲ 49.7% |
| Amounts payable17/49 | €42k | €595k | €649k | €641k | €621k | ▼ 3.1% |
| Amounts payable after more than one year17 | - | €520k | €548k | €495k | €467k | ▼ 5.6% |
| Financial debts170/4 | - | €520k | €548k | €495k | €467k | ▼ 5.6% |
| Amounts payable within one year42/48 | €42k | €75k | €101k | €134k | €154k | ▲ 15.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €45k | €49k | ▲ 9.9% |
| Financial debts43 | - | €56 | €10k | €8k | €9k | ▲ 9.3% |
| Credit institutions430/8 | - | €56 | €10k | €8k | €9k | ▲ 9.3% |
| Trade debts44 | €2k | €35k | €37k | €6k | €17k | ▲ 179% |
| Suppliers440/4 | €2k | €35k | €37k | €6k | €17k | ▲ 179% |
| Advances received on contracts in progress46 | - | - | - | €6k | - | - |
| Taxes, remuneration and social security45 | - | - | - | €10k | €9k | ▼ 5.3% |
| Taxes450/3 | - | - | - | €10k | €9k | ▼ 5.3% |
| Other amounts payable47/48 | €40k | €40k | €55k | €60k | €70k | ▲ 16.7% |
| Accrued charges and deferred income492/3 | €348 | - | - | €12k | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-8k | €-18k | €-16k | €13k | €14k | ▲ 7.7% |
| + Depreciation and write-downs630 | €6k | €20k | €33k | €35k | €42k | ▲ 20.7% |
| Operating cash flow (approximation) | €-2k | €1k | €17k | €47k | €56k | ▲ 17.2% |
| Investment in fixed assets (approximation) | - | €-497k | €-42k | €-47k | €-27k | ▲ 42.5% |
| Change in cash | - | €-2k | €-218 | €120 | €104 | ▼ 13.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
23-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 54 days late
2025
31-12
Financial
Highest result since 2018net €14k ▲7.7%
Operating result €22k, net result €14k, both a record.
03-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 34 days late
2024
31-12
Financial
Back to profitnet €13k
Net result €13k after 3 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Weakest financial yearnet €-18k
Net result drops to €-18k, the lowest in the series; recovery starts the following year.
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Back to profitnet €646
Net result €646 after 2 loss-making years.
05-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 36 days late
2019
05-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
06-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
08-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 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, Libin · 1 establishment unit since 1988
Ground area
1,545 m²
Building footprint
423 m²
Volume, LiDAR
2,865 m³
Parcel 84046A0143/00E000, Wallonia · tallest building 9.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
THERAYMI
since 19882.040.303.344
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 84046A0143/00E000 | Wallonia | 1,545 m² | 1 · 423 m² | 9.6 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 12,020 companies in sector 68203 we hold annual accounts for 5,986. 2,425 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded05-07-1988
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
77399Renting and leasing of other machinery, equipment and tangible goods
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.