Equity
-€67,413
Debts exceed assets in financial year 2025.
THICHA
Lifetime
20 annual accounts with figures on one time axis, 21 filings since 2005peak €138,708 (2014)
€27,721▼ 11.1%
lowest -€68,389 (2017)
€15,123▼ 11.9%
peak €78,721 (2016)
-€67,413▲ €15,123
€210,664▼ 13.2%
Board3 names since 2021
2 directorsLemahieu Thiery and 1 other
Documentsfilings and deeds
28-07-20263 days before the deadline
2025micro format
Equity from -€82,536 to -€67,413Cash from €841 to €2,213
Key points
from the 2025 annual accountsDebts
€210,664 147% of the balance sheet
Financial debts 72%Suppliers 1%Taxes and wages 3%Other 25%
Of this, €58,821 falls due within a year.
Position in the sector
-€67,413
Less equity than 93% of companies in retail trade. Sector median €40,976 · 22,967 companies.
Checked score
55
Fair
Financially stronger than 45% of micro companies in retail trade (NACE 47)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.8% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.6% across 40,275 companies (NACE 47, micro).
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 2.8%
01-2025: 2.8%● unchanged vs 12-2024
02-2025: 2.8%● unchanged vs 01-2025
03-2025: 2.7%▼ -0.1 percentage points vs 02-2025
04-2025: 2.7%● unchanged vs 03-2025
05-2025: 2.6%▼ -0.1 percentage points vs 04-2025
06-2025: 2.5%▼ -0.1 percentage points vs 05-2025
07-2025: 2.7%▲ +0.2 percentage points vs 06-2025
08-2025: 3.3%▲ +0.6 percentage points vs 07-2025highest value
09-2025: 1.1%▼ -2.2 percentage points vs 08-2025
10-2025: 1.1%● unchanged vs 09-2025
11-2025: 1.1%● unchanged vs 10-2025
12-2025: 1.1%● unchanged vs 11-2025
01-2026: 1.1%● unchanged vs 12-2025
02-2026: 1.1%● unchanged vs 01-2026
03-2026: 1.1%● unchanged vs 02-2026
04-2026: 1.1%● unchanged vs 03-2026
05-2026: 1.1%● unchanged vs 04-2026
06-2026: 1.0%▼ -0.1 percentage points vs 05-2026
07-2026: 1.1%▲ +0.1 percentage points vs 06-2026
08-2026: 0.8%▼ -0.3 percentage points vs 07-2026lowest value
09-2026: 0.8%● unchanged vs 08-2026lowest value
10-2026: 0.8%● unchanged vs 09-2026lowest value
11-2026: 0.8%● unchanged vs 10-2026lowest value
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Negative equity -€67,413
Sector: Retail trade (NACE 47)
lowers risk
Size: total assets €143,251
Founded in 2004
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 47, micro). It does better than 6% of them on solvency, 30% on liquidity, 75% on profitability and 71% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 3,794 companies had the same profile as THICHA has now. Each dot stands for 10 companies, two years later.
91.5%
were still trading
5.3%
stopped another way
2.7%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of THICHA itself: 0.8% within 12 months.
Test of the method
The method was tested on the 497,447 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 3,794 companies, not a prediction for THICHA. 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.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.04 (0.15 in 2024), below 1. Short-term debt is 41.1% and cash 1.5% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 22924 sector peers (2025).
NBB · sector comparisonPosition among 22924 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 days early
2024
2 days early
2023
14 days late
2022
61 days late
2021
31 days late
2020
10 days late
2019
5 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 17 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 15 August (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0863343946
Changes of role: Lemahieu Thierry (director) and Soenen Katrien (director)
General meeting of 05-12-2023 · Gazette deed
Incorporation
published on 18-02-2004 · Gazette deed
First establishment
Gerard Davidstraat 55, Bruges
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| THICHA Bruges | €143,251 | €27,721 | -47.1% | - |
| TMCO.BE Aalter | €153,676 | €27,772 | 71.3% | - |
| VAN TULDER KOOK & KADO Zandhoven | €114,896 | €20,647 | 5.6% | - |
| PITSCHON Aarschot | €186,766 | €30,604 | 96.0% | - |
| VERIMA BUSINESS Zulte | €153,673 | €23,871 | 64.3% | - |
| POINT SERVICES Mons | €150,266 | €43,356 | 40.4% | - |
| FASHION COMPANY Knokke-Heist | €231,746 | €32,844 | -62.8% | - |
These companies have the same main activity as THICHA: other non-specialised retail sale (NACE 47120). They are comparable in size and age: total assets between €115,000 and €232,000, founded between 2001 and 2007.
Official details
Source: KBO- Status
- Active since 11-02-2004Normal situation
- Activity
- Other non-specialised retail saleNACE 47120and 1 other
- Establishment unit
- 2.135.966.9228000 Bruges, since 11-02-2004
- Financial year end
- 31 December
- Peppol
- Reachable since 18-12-2025
Annual accounts 2025
- ≈ €320,000estimated
- €143,251▼ 10.5%
- Filing
- Filed on 28-07-2026, 3 days before the end of the filing period
Insights on THICHA
THICHA files the micro format. That format states no turnover. The gross margin rose from €18,048 in 2006 to €27,721 in 2025.
The balance sheet grew most in 2010 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about THICHA
- What is the company number of THICHA?
- The company number of THICHA is 0863.343.946. The VAT number is the same number with BE in front: BE 0863.343.946.
- Where is THICHA based?
- The registered office is at Gerard Davidstraat 55, 8000 Bruges.Company details
- What does THICHA do?
- According to the KBO register, the main activity is other non-specialised retail sale (NACE 47120).
- What is the legal form of THICHA?
- THICHA is a private limited company (BV).
- When was THICHA founded?
- THICHA was founded on 11-02-2004.
- Is THICHA still active?
- Yes, THICHA is an active enterprise in the KBO register.
- What is the turnover of THICHA?
- The turnover in financial year 2025 is ≈ €320,000. This figure is estimated from the gross margin of €27,721 and 178 comparable companies (NACE 471). It probably lies between €210,000 and €500,000.Financials
- Is THICHA profitable?
- In financial year 2025, THICHA made a profit of €15,123.
- Where can I find the annual accounts of THICHA?
- THICHA filed 21 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of THICHA due?
- THICHA must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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