THEWO
ActiveSummary
THEWO has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €143,098 and a net result of €141,124. Equity is growing by ~14.1% per year across the filed fiscal years. Its solvency ranks better than 91% of 31942 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days acceptable
Liquidity ample (current ratio 7.63 against 9.33 in 2024; short-term debt: 7.8% and cash: 43.3% of total assets), and 7.8% of the assets are financed with debt.
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Signals
Four 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
92.2%
Return on assets
91%
Age of the figures
9 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 21-04-2026, 101 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
101 d early
2024
45 d early
2023
11 d early
2022
42 d early
2021
17 d early
2020
58 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 46 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
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. Usually files around 19 June (4 of the last 5 filed years within 32 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€143,098▼ 30.9%
2024 · €206,974
Total assets
€155,137▼ 29.9%
2024 · €221,386
Net result
€141,124▲ 15.6%
2024 · €122,065
Working capital
€79,766▼ 33.6%
2024 · €120,092
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€135,733▲ 204%€124,954▼ 7.9%€157,696▲ 26.2%€157,656=€182,349▲ 15.7%
Net result€105,070above the sector's middle half▲ 197%€97,367above the sector's middle half▼ 7.3%€122,998above the sector's middle half▲ 26.3%€122,065above the sector's middle half▼ 0.8%€141,124above the sector's middle half▲ 15.6%
Equity€140,344within the sector's middle half▲ 289%€236,911within the sector's middle half▲ 68.8%€159,909within the sector's middle half▼ 32.5%€206,974within the sector's middle half▲ 29.4%€143,098within the sector's middle half▼ 30.9%
Total assets€192,831within the sector's middle half▲ 234%€286,579within the sector's middle half▲ 48.6%€188,636within the sector's middle half▼ 34.2%€221,386within the sector's middle half▲ 17.4%€155,137within the sector's middle half▼ 29.9%
Debt€52,487▲ 142%€49,668▼ 5.4%€28,727▼ 42.2%€14,412▼ 49.8%€12,038▼ 16.5%
Working capital€119,863within the sector's middle half▲ 1,155%€225,709above the sector's middle half▲ 88.3%€49,477within the sector's middle half▼ 78.1%€120,092within the sector's middle half▲ 143%€79,766within the sector's middle half▼ 33.6%
Solvency72.8%within the sector's middle half▲ 10.3pp82.7%above the sector's middle half▲ 9.9pp84.8%above the sector's middle half▲ 2.1pp93.5%above the sector's middle half▲ 8.7pp92.2%above the sector's middle half▼ 1.2pp
Current ratio3.28within the sector's middle half▲ 1.845.54above the sector's middle half▲ 2.262.72within the sector's middle half▼ 2.829.33above the sector's middle half▲ 6.617.63above the sector's middle half▼ 1.71
Return on assets (ROA)54.5%above the sector's middle half▼ 6.7pp34.0%above the sector's middle half▼ 20.5pp65.2%above the sector's middle half▲ 31.2pp55.1%above the sector's middle half▼ 10.1pp91.0%above the sector's middle half▲ 35.8pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
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 16% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €155,137
Fixed assets
€63,332 ▼ 27.1%
Current assets
€91,804 ▼ 31.7%
Equity and liabilities €155,137
Equity
€143,098 ▼ 30.9%
Debt
€12,038 ▼ 16.5%
Debt's share of the balance-sheet total rises from 6.5% to 7.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€205,898▲
2024 · €181,206
Cash flow
€164,674▲
2024 · €145,615
Debt to equity
0.08▲
2024 · 0.07
ROE
98.6%▲
2024 · 59.0%
Interest coverage
2557.11▼
2024 · 4026.80
Debt ≤ 1 year
€12,038▼
2024 · €14,412
Income taxes
€42,236▲
2024 · €35,932
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 26,970 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,106 | €9,279 | €9,363 | €23,550 | €23,550 | = |
| Other operating charges640/8 | €1,095 | €972 | €881 | €658 | €2,288 | ▲ 248% |
| Gross operating margin9900 | €145,933 | €135,206 | €167,940 | €181,864 | €208,186 | ▲ 14.5% |
| Operating profit (loss)9901 | €135,733 | €124,954 | €157,696 | €157,656 | €182,349 | ▲ 15.7% |
| Financial income75/76B | €386 | €1,803 | €2,570 | €386 | €1,092 | ▲ 183% |
| Recurring financial income75 | €386 | €1,803 | €2,570 | €386 | €1,092 | ▲ 183% |
| Financial charges65/66B | €16 | €67 | €45 | €45 | €81 | ▲ 78.9% |
| Recurring financial charges65 | €16 | €67 | €45 | €45 | €81 | ▲ 78.9% |
| Profit (loss) for the period before taxes9903 | €136,103 | €126,690 | €160,220 | €157,997 | €183,360 | ▲ 16.1% |
| Income taxes67/77 | €31,033 | €29,323 | €37,223 | €35,932 | €42,236 | ▲ 17.5% |
| Profit (loss) for the period9904 | €105,070 | €97,367 | €122,998 | €122,065 | €141,124 | ▲ 15.6% |
| Profit (loss) for the period to be appropriated9905 | €105,070 | €97,367 | €122,998 | €122,065 | €141,124 | ▲ 15.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €192,831 | €286,579 | €188,636 | €221,386 | €155,137 | ▼ 29.9% |
| Fixed assets21/28 | €20,482 | €11,202 | €110,432 | €86,882 | €63,332 | ▼ 27.1% |
| Tangible fixed assets22/27 | €20,482 | €11,202 | €110,432 | €86,882 | €63,332 | ▼ 27.1% |
| Plant, machinery and equipment23 | €2,684 | €1,109 | €8,763 | €6,789 | €4,814 | ▼ 29.1% |
| Furniture and vehicles24 | €10,815 | €3,974 | €96,412 | €75,699 | €54,987 | ▼ 27.4% |
| Other tangible fixed assets26 | €6,983 | €6,120 | €5,257 | €4,394 | €3,531 | ▼ 19.6% |
| Current assets29/58 | €172,349 | €275,377 | €78,205 | €134,504 | €91,804 | ▼ 31.7% |
| Amounts receivable within one year40/41 | €31,210 | €162,822 | €53,844 | €59,380 | €24,661 | ▼ 58.5% |
| Trade receivables40 | €1,210 | €22,705 | €23,844 | €25,312 | €24,562 | ▼ 3.0% |
| Other amounts receivable41 | €30,000 | €140,117 | €30,000 | €34,068 | €99 | ▼ 99.7% |
| Cash at bank and in hand54/58 | €141,139 | €112,555 | €24,361 | €75,124 | €67,143 | ▼ 10.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €192,831 | €286,579 | €188,636 | €221,386 | €155,137 | ▼ 29.9% |
| Equity10/15 | €140,344 | €236,911 | €159,909 | €206,974 | €143,098 | ▼ 30.9% |
| Contributions10/11 | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Outside capital11 | €1,500 | - | - | - | - | - |
| Other1109/19 | €1,500 | - | - | - | - | - |
| Reserves13 | €138,844 | €235,411 | €158,409 | €205,474 | €141,598 | ▼ 31.1% |
| Distributable reserves133 | €138,844 | €235,411 | €158,409 | €205,474 | €141,598 | ▼ 31.1% |
| Amounts payable17/49 | €52,487 | €49,668 | €28,727 | €14,412 | €12,038 | ▼ 16.5% |
| Amounts payable within one year42/48 | €52,487 | €49,668 | €28,727 | €14,412 | €12,038 | ▼ 16.5% |
| Trade debts44 | €1,042 | €613 | €314 | €3,293 | - | - |
| Suppliers440/4 | €1,042 | €613 | €314 | €3,293 | - | - |
| Taxes, remuneration and social security45 | €45,347 | €42,803 | €23,553 | €5,814 | €7,049 | ▲ 21.3% |
| Taxes450/3 | €45,347 | €42,803 | €23,553 | €5,814 | €7,049 | ▲ 21.3% |
| Other amounts payable47/48 | €6,098 | €6,252 | €4,861 | €5,305 | €4,989 | ▼ 6.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €105,070 | €97,367 | €122,998 | €122,065 | €141,124 | ▲ 15.6% |
| + Depreciation and write-downs630 | €9,106 | €9,279 | €9,363 | €23,550 | €23,550 | = |
| Operating cash flow (approximation) | €114,175 | €106,646 | €132,361 | €145,615 | €164,674 | ▲ 13.1% |
| Investment in fixed assets (approximation) | - | €0 | -€108,592 | €0 | €0 | - |
| Change in cash | - | -€28,585 | -€88,194 | €50,763 | -€7,981 | ▼ 116% |
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
21-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2020net €141,124 ▲15.6%
Operating result €182,349, net result €141,124, both a record.
16-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity triplescurrent ratio 9.33
Current ratio from 2.72 to 9.33; short-term debt falls from €28,727 to €14,412.
31-12
Financial
Equity above €200,000Eq €206,974 ▲29.4%
5 profitable years in a row build equity to €206,974.
20-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €200,000Eq €236,911 ▲68.8%
3 profitable years in a row build equity to €236,911.
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity doublescurrent ratio 3.28
Current ratio from 1.44 to 3.28.
31-12
Financial
Equity above €100,000Eq €140,344 ▲289%
2 profitable years in a row build equity to €140,344.
03-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Sint-Niklaas · 1 establishment unit since 2020
Ground area
821 m²
Building footprint
191 m²
Volume, LiDAR
815 m³
Parcel 46444D0596/00A003, Flanders · tallest building 7.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
THEWO
since 20202.305.365.841
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46444D0596/00A003 | Flanders | 821 m² | 1 · 191 m² | 7.3 m · 1 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 82,642 companies in sector 70200 we hold annual accounts for 52,626. 40,886 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
Founded28-07-2020
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
68110Buying and selling of own real estate
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0751551050
Also
9925:BE0751551050
Registered
19-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.