THIRD DEGREE
ActiveSummary
THIRD DEGREE has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €269k and a net result of €28k. Equity remains stable across the filed fiscal years (±1.2% per year). Its solvency ranks better than 42% of 7780 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▼-10
Solvency66▲+10
Growth52▼-6
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €18k at 30 days acceptable
Liquidity short (current ratio 0.52 against 0.64 in 2024; short-term debt: 45.6% and cash: 6.7% of total assets), and 58.6% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
41.4%
Return on assets
4.2%
Age of the figures
9 mo
neutral · 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 · 10 filingsDeviation from the deadline
2025
31 d late
2024
30 d late
2023
66 d late
2022
60 d late
2021
31 d late
2020
89 d late
2019
117 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
History
Financials · fiscal year 2025, micro schema
Equity
€269k▲ 11.4%
2024 · €242k
Total assets
€650k▼ 16.2%
2024 · €776k
Net result
€28k▼ 70.7%
2024 · €94k
Working capital
€-143k▼ 2.6%
2024 · €-139k
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€-34k€100k€154k▲ 54.8%€151k▼ 2.2%€51k▼ 66.3%
Net result€-41k€73k€99k▲ 36.1%€94k▼ 4.6%€28k▼ 70.7%
Equity€302k▼ 11.9%€375k▲ 24.1%€326k▼ 13.0%€242k▼ 25.9%€269k▲ 11.4%
Total assets€789k▼ 9.6%€798k▲ 1.1%€728k▼ 8.7%€776k▲ 6.6%€650k▼ 16.2%
Debt€487k▼ 8.0%€423k▼ 13.2%€402k▼ 4.8%€535k▲ 32.9%€381k▼ 28.7%
Working capital€-28k€30k€12k▼ 59.9%€-139k€-143k▼ 2.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 66% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €650k
Fixed assets
€496k ▼ 5.6%
Current assets
€154k ▼ 38.7%
Equity and liabilities €650k
Equity
€269k ▲ 11.4%
Debt
€381k ▼ 28.7%
Debt's share of the balance-sheet total falls from 68.9% to 58.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€89k▼
2024 · €189k
Cash flow
€65k▼
2024 · €132k
Current ratio
0.52▼
2024 · 0.64
Debt to equity
1.42▼
2024 · 2.21
ROE
10.2%▼
2024 · 39.0%
ROA
4.2%▼
2024 · 12.1%
Interest coverage
9.10▼
2024 · 17.12
Debt ≤ 1 year
€297k▼
2024 · €390k
Debt > 1 year
€84k▼
2024 · €145k
Income taxes
€14k▼
2024 · €46k
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 | €46k | €42k | €41k | €38k | €38k | ▼ 0.5% |
| Other operating charges640/8 | €1k | €1k | €2k | €3k | €2k | ▼ 27.6% |
| Gross operating margin9900 | €13k | €143k | €197k | €191k | €91k | ▼ 52.7% |
| Operating profit (loss)9901 | €-34k | €100k | €154k | €151k | €51k | ▼ 66.3% |
| Financial income75/76B | €15 | €6 | - | €196 | €23 | ▼ 88.2% |
| Recurring financial income75 | €15 | €6 | - | €196 | €23 | ▼ 88.2% |
| Financial charges65/66B | €7k | €8k | €7k | €11k | €10k | ▼ 11.8% |
| Recurring financial charges65 | €7k | €8k | €7k | €11k | €10k | ▼ 11.8% |
| Profit (loss) for the period before taxes9903 | €-41k | €91k | €147k | €140k | €41k | ▼ 70.6% |
| Income taxes67/77 | - | €19k | €48k | €46k | €14k | ▼ 70.3% |
| Profit (loss) for the period9904 | €-41k | €73k | €99k | €94k | €28k | ▼ 70.7% |
| Profit (loss) for the period to be appropriated9905 | €-41k | €73k | €99k | €94k | €28k | ▼ 70.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €789k | €798k | €728k | €776k | €650k | ▼ 16.2% |
| Fixed assets21/28 | €647k | €605k | €563k | €526k | €496k | ▼ 5.6% |
| Tangible fixed assets22/27 | €611k | €569k | €527k | €489k | €460k | ▼ 6.0% |
| Land and buildings22 | €607k | €566k | €526k | €489k | €452k | ▼ 7.5% |
| Furniture and vehicles24 | €4k | €2k | €1k | €656 | €70 | ▼ 89.3% |
| Other tangible fixed assets26 | - | - | - | - | €8k | - |
| Financial fixed assets28 | €36k | €36k | €36k | €36k | €36k | = |
| Current assets29/58 | €142k | €193k | €165k | €251k | €154k | ▼ 38.7% |
| Amounts receivable within one year40/41 | €82k | €93k | €103k | €93k | €109k | ▲ 17.0% |
| Trade receivables40 | €3k | - | €9k | €0 | €12k | - |
| Other amounts receivable41 | €79k | €93k | €93k | €93k | €97k | ▲ 4.0% |
| Cash at bank and in hand54/58 | €39k | €79k | €62k | €157k | €43k | ▼ 72.3% |
| Deferred charges and accrued income490/1 | €21k | €20k | - | €878 | €1k | ▲ 36.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €789k | €798k | €728k | €776k | €650k | ▼ 16.2% |
| Equity10/15 | €302k | €375k | €326k | €242k | €269k | ▲ 11.4% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €337k | €368k | €320k | €235k | €263k | ▲ 11.7% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €0 | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €0 | - | - |
| Distributable reserves133 | €335k | €367k | €318k | €235k | €263k | ▲ 11.7% |
| Profit (loss) carried forward14 | €-41k | - | - | €0 | €0 | - |
| Amounts payable17/49 | €487k | €423k | €402k | €535k | €381k | ▼ 28.7% |
| Amounts payable after more than one year17 | €316k | €260k | €203k | €145k | €84k | ▼ 42.1% |
| Financial debts170/4 | €316k | €260k | €203k | €145k | €84k | ▼ 42.1% |
| Amounts payable within one year42/48 | €171k | €163k | €153k | €390k | €297k | ▼ 23.9% |
| Current portion of amounts payable after more than one year42 | €55k | €56k | €57k | €58k | €60k | ▲ 3.2% |
| Trade debts44 | €88k | €52k | - | €27k | €25k | ▼ 5.9% |
| Suppliers440/4 | €88k | €52k | - | €27k | €25k | ▼ 5.9% |
| Taxes, remuneration and social security45 | €15k | €33k | €93k | €100k | €33k | ▼ 67.2% |
| Taxes450/3 | €15k | €33k | €93k | €97k | €33k | ▼ 66.1% |
| Remuneration and social security454/9 | - | - | - | €3k | €0 | ▼ 100% |
| Other amounts payable47/48 | €12k | €22k | €3k | €205k | €179k | ▼ 13.0% |
| Accrued charges and deferred income492/3 | - | - | €46k | - | €529 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-41k | €73k | €99k | €94k | €28k | ▼ 70.7% |
| + Depreciation and write-downs630 | €46k | €42k | €41k | €38k | €38k | ▼ 0.5% |
| Operating cash flow (approximation) | €5k | €115k | €140k | €132k | €65k | ▼ 50.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €-8k | ▼ 2,924,183% |
| Change in cash | - | €40k | €-17k | €94k | €-113k | ▼ 220% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
05-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 66 days late
2023
31-12
Financial
Highest result since 2018net €99k ▲36.1%
Operating result €154k, net result €99k, both a record.
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
31-12
Financial
Back to profitnet €73k
Net result €73k after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Weakest financial yearnet €-41k
Net result drops to €-41k, the lowest in the series; recovery starts the following year.
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 89 days late
2020
25-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 117 days late
2019
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 92 days late
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 59 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 25 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, Merelbeke-Melle · 1 establishment unit since 2016
Ground area
1,546 m²
Building footprint
290 m²
Volume, LiDAR
2,058 m³
Parcel 44043A0173/00H000, Flanders · tallest building 11.2 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Third Degree
since 20162.254.033.045
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44043A0173/00H000 | Flanders | 1,545 m² | 1 · 290 m² | 11.2 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.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 638 EUR awarded · 638 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 638 EUR | 638 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 24,515 companies in sector 82990 we hold annual accounts for 9,408. 6,646 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
Founded02-05-2016
Fiscal year end31-12
Activities, NACEBEL 2025
82990Other business support services
46499Wholesale of other household goods
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.