THICHA
ActiveSummary
THICHA has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-67k) and a net result of €15k. Equity is shrinking by ~15% per year across the filed fiscal years. Its solvency ranks better than 13% of 18400 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability82=
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.04 against 0.15 in 2024; short-term debt: 41.1% and cash: 1.5% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-47.1%
Return on assets
10.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 18400 sector peers (2025).
NBB · sector comparisonPosition among 18400 sector peers
Solvency
better than 13%
← weakest
strongest →
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 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
2 d early
2023
14 d late
2022
61 d late
2021
31 d late
2020
10 d late
2019
5 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file What other support did companies like this one receive, and it did not?Subsidy mirror How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Financials · fiscal year 2025, micro schema
Equity
€-67k▲ 18.3%
2024 · €-83k
Total assets
€143k▼ 10.5%
2024 · €160k
Net result
€15k▼ 11.9%
2024 · €17k
Working capital
€-56k▲ 6.3%
2024 · €-60k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€-23k€-13k▲ 43.6%€-7k▲ 44.5%€21k€18k▼ 14.2%
Net result€-30k€-15k▲ 49.9%€-9k▲ 41.6%€17k€15k▼ 11.9%
Equity€-76k▼ 63.3%€-91k▼ 19.4%€-100k▼ 9.5%€-83k▲ 17.2%€-67k▲ 18.3%
Total assets€195k▼ 7.8%€185k▼ 5.2%€173k▼ 6.8%€160k▼ 7.3%€143k▼ 10.5%
Debt€272k▲ 5.0%€276k▲ 1.7%€272k▼ 1.4%€243k▼ 10.9%€211k▼ 13.2%
Working capital€-22k▲ 60.0%€-44k▼ 99.4%€-66k▼ 49.4%€-60k▲ 8.9%€-56k▲ 6.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 14% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €143k
Fixed assets
€141k ▼ 5.5%
Current assets
€2k ▼ 77.9%
Key figures and ratios
EBITDA
€26k▼
2024 · €29k
Cash flow
€23k▼
2024 · €26k
Solvency
-47.1%▲
2024 · -51.5%
Current ratio
0.04▼
2024 · 0.15
Debt to equity
-3.12▼
2024 · -2.94
ROA
10.6%▼
2024 · 10.7%
Interest coverage
21.02▲
2024 · 17.89
Debt ≤ 1 year
€59k▼
2024 · €71k
Debt > 1 year
€152k▼
2024 · €171k
Income taxes
€2k▼
2024 · €2k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8k | €8k | €8k | €9k | €8k | ▼ 6.8% |
| Other operating charges640/8 | €2k | €4k | €2k | €2k | €2k | ▲ 3.1% |
| Gross operating margin9900 | €-13k | €-2k | €3k | €31k | €28k | ▼ 11.1% |
| Operating profit (loss)9901 | €-23k | €-13k | €-7k | €21k | €18k | ▼ 14.2% |
| Financial income75/76B | €21 | €11 | - | €5 | €267 | ▲ 5,233% |
| Recurring financial income75 | €21 | €11 | - | €5 | €267 | ▲ 5,233% |
| Financial charges65/66B | €6k | €2k | €1k | €2k | €1k | ▼ 25.1% |
| Recurring financial charges65 | €6k | €2k | €1k | €2k | €1k | ▼ 25.1% |
| Non-recurring financial charges66B | - | €0 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €-30k | €-15k | €-9k | €19k | €17k | ▼ 11.9% |
| Income taxes67/77 | - | - | - | €2k | €2k | ▼ 11.9% |
| Profit (loss) for the period9904 | €-30k | €-15k | €-9k | €17k | €15k | ▼ 11.9% |
| Profit (loss) for the period to be appropriated9905 | €-30k | €-15k | €-9k | €17k | €15k | ▼ 11.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €195k | €185k | €173k | €160k | €143k | ▼ 10.5% |
| Fixed assets21/28 | €172k | €162k | €157k | €149k | €141k | ▼ 5.5% |
| Tangible fixed assets22/27 | €172k | €162k | €157k | €149k | €141k | ▼ 5.5% |
| Land and buildings22 | €166k | €159k | €154k | €147k | €140k | ▼ 4.8% |
| Furniture and vehicles24 | €6k | €3k | €3k | €2k | €791 | ▼ 60.7% |
| Current assets29/58 | €23k | €23k | €16k | €11k | €2k | ▼ 77.9% |
| Stocks and contracts in progress3 | €975 | - | - | - | - | - |
| Stocks30/36 | €975 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €20k | €17k | €16k | €10k | - | - |
| Trade receivables40 | €4k | €2k | €3k | €6k | - | - |
| Other amounts receivable41 | €16k | €15k | €13k | €4k | - | - |
| Cash at bank and in hand54/58 | €2k | €4k | €21 | €841 | €2k | ▲ 163% |
| Deferred charges and accrued income490/1 | €102 | €1k | €330 | €332 | €220 | ▼ 33.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €195k | €185k | €173k | €160k | €143k | ▼ 10.5% |
| Equity10/15 | €-76k | €-91k | €-100k | €-83k | €-67k | ▲ 18.3% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €58k | €58k | €58k | €75k | €90k | ▲ 20.1% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Distributable reserves133 | €56k | €56k | €58k | €75k | €90k | ▲ 20.1% |
| Profit (loss) carried forward14 | €-153k | €-168k | €-176k | €-176k | €-176k | = |
| Amounts payable17/49 | €272k | €276k | €272k | €243k | €211k | ▼ 13.2% |
| Amounts payable after more than one year17 | €224k | €209k | €190k | €171k | €152k | ▼ 11.5% |
| Financial debts170/4 | €224k | €209k | €190k | €171k | €152k | ▼ 11.5% |
| Amounts payable within one year42/48 | €45k | €67k | €82k | €71k | €59k | ▼ 17.4% |
| Current portion of amounts payable after more than one year42 | €18k | €19k | €19k | €19k | €20k | ▲ 3.2% |
| Trade debts44 | €1k | €403 | €1k | €613 | €1k | ▲ 124% |
| Suppliers440/4 | €1k | €403 | €1k | €613 | €1k | ▲ 124% |
| Taxes, remuneration and social security45 | €14k | - | - | €2k | €6k | ▲ 224% |
| Taxes450/3 | - | - | - | €2k | €6k | ▲ 224% |
| Remuneration and social security454/9 | €14k | - | - | - | - | - |
| Other amounts payable47/48 | €12k | €48k | €62k | €50k | €32k | ▼ 35.4% |
| Accrued charges and deferred income492/3 | €3k | - | - | - | €128 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-30k | €-15k | €-9k | €17k | €15k | ▼ 11.9% |
| + Depreciation and write-downs630 | €8k | €8k | €8k | €9k | €8k | ▼ 6.8% |
| Operating cash flow (approximation) | €-21k | €-7k | €-442 | €26k | €23k | ▼ 10.1% |
| Investment in fixed assets (approximation) | - | €2k | €-3k | €-1k | €0 | ▲ 100% |
| Change in cash | - | €2k | €-4k | €820 | €1k | ▲ 67.2% |
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
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €17k
Net result €17k after 3 loss-making years.
14-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 14 days late
2023
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
10-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 10 days late
2020
31-12
Financial
Back to profitnet €2k
Net result €2k after 2 loss-making years.
05-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 5 days late
2019
31-12
Financial
Weakest financial yearnet €-50k
Net result drops to €-50k, the lowest in the series; recovery starts the following year.
09-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 9 days late
2018
03-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 3 days late
2017
04-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 4 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Brugge · 1 establishment unit since 2004
Ground area
703 m²
Building footprint
157 m²
Volume, LiDAR
1,219 m³
Parcel 31808M0469/00M003, Flanders · tallest building 11.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Thicha
since 20042.135.966.922
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31808M0469/00M003 | Flanders | 703 m² | 1 · 157 m² | 11.7 m · 3 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.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 104 EUR awarded · 104 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 104 EUR | 104 EUR |
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Of 12,954 companies in sector 47120 we hold annual accounts for 2,190. 433 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
Founded11-02-2004
Fiscal year end31-12
Activities, NACEBEL 2025
47120Other non-specialised retail sale
64210Activities of holding companies
Scores and ratios are computed by Checked and are not a credit decision.