THM
InactiveFrom the official registers: KBO 24 annual accounts at the National Bank publications in the Belgian Official Gazette
Financials · financial year 2025, micro format
Latest annual accounts filed
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 02-06-2026
- Format
- micro format
- Reference
- 2026-00132439
Turnover
≈ €80,000
Estimated: probably between €36,000 and €190,000
Total assets
€5,510▼ 81.9%
2024 · €30,512
Net result
-€14,126▼ 100%
2024 · -€7,063
Working capital
-€88,818▼ 445%
2024 · -€16,303
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €13,605 in 2025 against €6,561 in 2024; the loss grows.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€13,605
2025
Net result-€14,126
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€5,510
2025
Equity-€88,488
2025
Debt€93,998
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€88,818
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€21,251-€17,996▼ 15.3%€5,645▼ 68.6%€15,185▲ 169%€1,088▼ 92.8%-€14,270-€6,561▲ 54.0%-€13,605▼ 107%
Net result€27,352-€17,396▼ 36.4%€5,188▼ 70.2%€14,689▲ 183%€507▼ 96.5%-€14,793-€7,063▲ 52.3%-€14,126▼ 100%
Equity-€90,286--€72,890▲ 19.3%-€67,703▲ 7.1%-€53,014▲ 21.7%-€52,507▲ 1.0%-€67,300▼ 28.2%-€74,362▼ 10.5%-€88,488▼ 19.0%
Total assets€42,250-€57,018▲ 35.0%€41,322▼ 27.5%€54,605▲ 32.1%€68,211▲ 24.9%€31,021▼ 54.5%€30,512▼ 1.6%€5,510▼ 81.9%
Debt€132,535-€129,908▼ 2.0%€109,024▼ 16.1%€107,619▼ 1.3%€120,719▲ 12.2%€98,321▼ 18.6%€104,875▲ 6.7%€93,998▼ 10.4%
Working capital-€64,386--€54,857▲ 14.8%-€39,632▲ 27.8%-€14,817▲ 62.6%-€4,922▲ 66.8%-€9,497▼ 93.0%-€16,303▼ 71.7%-€88,818▼ 445%
Turnover and EBIT margin not published: the micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5,510
Fixed assets
€330 ▼ 68.1%
Current assets
€5,180 ▼ 82.4%
Equity and liabilities
Equity-€88,488
Debt€93,998
Equity is negative: debt (€93,998) exceeds the balance-sheet total (€5,510).
Key figures and ratios
Current ratio
0.06▼
2024 · 0.64
ROA
-256.4%▼
2024 · -23.1%
Debt ≤ 1 year
€93,998▲
2024 · €45,780
Income taxes
€438▼
2024 · €463
A ratio outside any meaningful range has been withheld (balance sheet total €5,510, equity -€88,488).
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,299 | €10,367 | €10,531 | €10,126 | €10,157 | €10,217 | €256 | - | - |
| Other operating charges640/8 | - | - | - | €1,378 | €1,808 | €1,350 | €1,594 | €24,012 | ▲ 15× |
| Gross operating margin9900 | €30,760 | €40,916 | €17,849 | €26,689 | €13,054 | -€2,702 | -€4,710 | €10,407 | - |
| Operating profit (loss)9901 | €21,251 | €17,996 | €5,645 | €15,185 | €1,088 | -€14,270 | -€6,561 | -€13,605 | ▼ 107% |
| Financial income75/76B | - | - | - | - | - | - | - | €0 | - |
| Recurring financial income75 | - | €1 | €40 | - | - | - | - | €0 | - |
| Financial charges65/66B | - | - | - | - | €55 | €30 | €39 | €84 | ▲ 113% |
| Recurring financial charges65 | €43 | €23 | €0 | - | €55 | €30 | €39 | €84 | ▲ 113% |
| Profit (loss) for the period before taxes9903 | €27,525 | €17,973 | €5,685 | €15,185 | €1,033 | -€14,299 | -€6,600 | -€13,688 | ▼ 107% |
| Income taxes67/77 | €173 | €577 | €497 | €496 | €526 | €493 | €463 | €438 | ▼ 5.4% |
| Profit (loss) for the period9904 | €27,352 | €17,396 | €5,188 | €14,689 | €507 | -€14,793 | -€7,063 | -€14,126 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €27,352 | €17,396 | €5,188 | €14,689 | €507 | -€14,793 | -€7,063 | -€14,126 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €42,250 | €57,018 | €41,322 | €54,605 | €68,211 | €31,021 | €30,512 | €5,510 | ▼ 81.9% |
| Fixed assets21/28 | €33,195 | €41,061 | €31,024 | €20,898 | €11,509 | €1,292 | €1,036 | €330 | ▼ 68.1% |
| Tangible fixed assets22/27 | €32,865 | €40,731 | €30,694 | €20,568 | €11,179 | €962 | €706 | - | - |
| Furniture and vehicles24 | - | - | - | €20,087 | €10,698 | €481 | €225 | - | - |
| Other tangible fixed assets26 | - | - | - | €481 | €481 | €481 | €481 | - | - |
| Financial fixed assets28 | €330 | €330 | €330 | €330 | €330 | €330 | €330 | €330 | = |
| Current assets29/58 | €9,055 | €15,957 | €10,298 | €33,707 | €56,702 | €29,729 | €29,477 | €5,180 | ▼ 82.4% |
| Amounts receivable within one year40/41 | €5,069 | - | €5,174 | €32,444 | €55,444 | €28,405 | €29,077 | €4,898 | ▼ 83.2% |
| Trade receivables40 | - | - | - | €29,831 | €55,444 | €28,219 | €28,219 | - | - |
| Other amounts receivable41 | - | - | - | €2,613 | - | €186 | €857 | €4,898 | ▲ 471% |
| Current investments50/53 | €2,390 | €4,083 | €40 | €158 | €8 | €8 | €8 | - | - |
| Cash at bank and in hand54/58 | €1,482 | €10,035 | €3,845 | €27 | €9 | €35 | - | €282 | - |
| Deferred charges and accrued income490/1 | - | - | - | €1,078 | €1,240 | €1,281 | €392 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €42,250 | €57,018 | €41,322 | €54,605 | €68,211 | €31,021 | €30,512 | €5,510 | ▼ 81.9% |
| Equity10/15 | -€90,286 | -€72,890 | -€67,703 | -€53,014 | -€52,507 | -€67,300 | -€74,362 | -€88,488 | ▼ 19.0% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €621 | €621 | €621 | €621 | €621 | €621 | €621 | €621 | = |
| Non-distributable reserves130/1 | - | - | - | €621 | €621 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €621 | €621 | - | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €621 | €621 | €621 | = |
| Profit (loss) carried forward14 | -€109,507 | -€92,111 | -€86,923 | -€72,235 | -€71,728 | -€86,521 | -€93,583 | -€107,709 | ▼ 15.1% |
| Amounts payable17/49 | €132,535 | €129,908 | €109,024 | €107,619 | €120,719 | €98,321 | €104,875 | €93,998 | ▼ 10.4% |
| Amounts payable after more than one year17 | €59,095 | €59,095 | €59,095 | €59,095 | €59,095 | €59,095 | €59,095 | - | - |
| Other amounts payable178/9 | - | - | - | €59,095 | €59,095 | €59,095 | €59,095 | - | - |
| Amounts payable within one year42/48 | €73,441 | €70,814 | €49,930 | €48,524 | €61,624 | €39,226 | €45,780 | €93,998 | ▲ 105% |
| Financial debts43 | - | - | - | - | - | - | €0 | - | - |
| Credit institutions430/8 | - | - | - | - | - | - | €0 | - | - |
| Trade debts44 | €392 | €8,933 | €724 | €142 | €24,326 | €1,584 | €10,763 | €872 | ▼ 91.9% |
| Suppliers440/4 | - | - | - | €142 | €24,326 | €1,584 | €10,763 | €872 | ▼ 91.9% |
| Taxes, remuneration and social security45 | - | - | - | €993 | €1,628 | €1,019 | €1,482 | €2,896 | ▲ 95.4% |
| Taxes450/3 | - | - | - | €993 | €1,628 | €1,019 | €1,482 | €2,896 | ▲ 95.4% |
| Other amounts payable47/48 | - | - | - | €47,389 | €35,670 | €36,623 | €33,535 | €90,231 | ▲ 169% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,352 | €17,396 | €5,188 | €14,689 | €507 | -€14,793 | -€7,063 | -€14,126 | ▼ 100% |
| + Depreciation and write-downs630 | €8,299 | €10,367 | €10,531 | €10,126 | €10,157 | €10,217 | €256 | - | - |
| Operating cash flow (approximation) | €35,651 | €27,762 | €15,719 | €24,814 | €10,664 | -€4,575 | -€6,806 | -€14,126 | ▼ 108% |
| Investment in fixed assets (approximation) | - | -€18,233 | -€494 | €0 | -€769 | €0 | €0 | €706 | - |
| Change in cash | - | €8,553 | -€6,190 | -€3,818 | -€18 | €26 | - | - | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 02-06-2026 | 2026-00132439 | |
| 31-12-2024 | micro format | 03-06-2025 | 2025-00116304 | |
| 31-12-2023 | micro format | 05-07-2024 | 2024-00223379 | |
| 31-12-2022 | micro format | 27-07-2023 | 2023-00287483 | |
| 31-12-2021 | micro format | 02-06-2022 | 2022-20046391 | |
| 31-12-2020 | micro format | 01-06-2021 | 2021-16600218 | |
| 31-12-2019 | micro format | 29-05-2020 | 2020-13700577 | |
| 31-12-2018 | micro format | 20-06-2019 | 2019-20300119 | |
| 31-12-2017 | micro format | 29-05-2018 | 2018-14100578 | |
| 31-12-2016 | micro format | 30-05-2017 | 2017-13400102 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.