Thmswarin
ActiveSummary
The computed 12-month bankruptcy probability of Thmswarin is 5.4% (elevated). The 2025 annual accounts show negative equity (-€36,411) and a net result of -€45,732. Equity is shrinking by ~54.3% per year across the filed fiscal years. Its solvency ranks better than 20% of 13560 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-20
Solvency10▼-18
Growth32=
Track record100
Bankruptcy probability, 12 months
5.4%
Elevated
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.11 against 0.24 in 2024; short-term debt: 70.6% and cash: 1.5% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
+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 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more 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
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
-15%
Return on assets
-18.8%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
2122232425
2021 to 2025 · latest year -€36,411
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 5 filingsDeviation from the deadline
2025
31 d late
2024
28 d early
2023
142 d early
2022
4 d early
2021
30 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 23 days before the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 52% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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How much credit can you give this customer, and on what term?Credit check 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 Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€36,411
2024 · €9,322
Total assets
€243,538▼ 15.7%
2024 · €288,988
Net result
-€45,732▼ 62.6%
2024 · -€28,119
Working capital
-€152,816▼ 51.5%
2024 · -€100,836
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 56, Food and beverage service 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€34,962--€10,483€26,276-€19,306-€35,360▼ 83.2%
Net result€23,204within the sector's middle half--€20,684below the sector's middle half€14,920within the sector's middle half-€28,119below the sector's middle half-€45,732below the sector's middle half▼ 62.6%
Equity€43,204within the sector's middle half-€22,520within the sector's middle half▼ 47.9%€37,440within the sector's middle half▲ 66.3%€9,322within the sector's middle half▼ 75.1%-€36,411below the sector's middle half
Total assets€98,513within the sector's middle half-€337,092above the sector's middle half▲ 242%€332,081above the sector's middle half▼ 1.5%€288,988above the sector's middle half▼ 13.0%€243,538within the sector's middle half▼ 15.7%
Debt€55,308-€314,572▲ 469%€294,640▼ 6.3%€279,666▼ 5.1%€279,949▲ 0.1%
Working capital€29,791--€80,272-€68,392▲ 14.8%-€100,836▼ 47.4%-€152,816▼ 51.5%
Solvency43.9%within the sector's middle half-6.7%within the sector's middle half▼ 37.2pp11.3%within the sector's middle half▲ 4.6pp3.2%within the sector's middle half▼ 8.0pp-15.0%below the sector's middle half▼ 18.2pp
Staff (FTE)16.7-9.7▼ 41.9%7.9▼ 18.6%13.5▲ 70.9%13.5=
above
within
below
the middle half (P25 to P75) of NACE 56, Food and beverage service 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 stays negative: a loss of €35,360 in 2025 against €19,306 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €243,538
Fixed assets
€224,477 ▼ 12.6%
Current assets
€19,062 ▼ 40.8%
Key figures and ratios
EBITDA
-€1,688▼
2024 · €13,921
Cash flow
-€12,060▼
2024 · €5,109
Current ratio
0.11▼
2024 · 0.24
Quick ratio
0.10▼
2024 · 0.22
Debt to equity
-7.69▼
2024 · 30.00
ROA
-18.8%▼
2024 · -9.7%
Interest coverage
-0.16▼
2024 · 1.60
Debt ≤ 1 year
€171,877▲
2024 · €133,020
Debt > 1 year
€108,072▼
2024 · €146,646
Income taxes
€179▲
2024 · €140
Staff costs
€148,906▼
2024 · €152,528
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 563 companies that looked in July 2024 the way this one looks now, 6.0% went bankrupt within 24 months and 87% are still going.
- Small
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
6.0%
went bankrupt
4.6%
stopped otherwise
87%
still going
A further 2.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 5.4% 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 563 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €3,000 | €0 | - | - | - | - |
| Remuneration, social security and pensions62 | €226,737 | €145,513 | €161,051 | €152,528 | €148,906 | ▼ 2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,779 | €12,600 | €33,518 | €33,228 | €33,672 | ▲ 1.3% |
| Other operating charges640/8 | €2,844 | €6,105 | €2,610 | €3,908 | €3,725 | ▼ 4.7% |
| Gross operating margin9900 | €268,323 | €153,735 | €223,455 | €170,358 | €150,943 | ▼ 11.4% |
| Operating profit (loss)9901 | €34,962 | -€10,483 | €26,276 | -€19,306 | -€35,360 | ▼ 83.2% |
| Financial income75/76B | €3 | €0 | €41 | €32 | €354 | ▲ 995% |
| Recurring financial income75 | €3 | €0 | €41 | €32 | €354 | ▲ 995% |
| Financial charges65/66B | €3,237 | €10,090 | €9,470 | €8,706 | €10,547 | ▲ 21.2% |
| Recurring financial charges65 | €3,237 | €10,090 | €9,470 | €8,706 | €10,547 | ▲ 21.2% |
| Profit (loss) for the period before taxes9903 | €31,729 | -€20,572 | €16,847 | -€27,979 | -€45,553 | ▼ 62.8% |
| Income taxes67/77 | €8,524 | €112 | €1,926 | €140 | €179 | ▲ 28.5% |
| Profit (loss) for the period9904 | €23,204 | -€20,684 | €14,920 | -€28,119 | -€45,732 | ▼ 62.6% |
| Profit (loss) for the period to be appropriated9905 | €23,204 | -€20,684 | €14,920 | -€28,119 | -€45,732 | ▼ 62.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €98,513 | €337,092 | €332,081 | €288,988 | €243,538 | ▼ 15.7% |
| Fixed assets21/28 | €13,874 | €323,550 | €290,031 | €256,804 | €224,477 | ▼ 12.6% |
| Intangible fixed assets21 | - | €320,259 | €287,031 | €253,804 | €220,576 | ▼ 13.1% |
| Tangible fixed assets22/27 | €874 | €291 | €0 | - | €901 | - |
| Furniture and vehicles24 | €874 | €291 | €0 | - | €901 | - |
| Financial fixed assets28 | €13,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Current assets29/58 | €84,639 | €13,543 | €42,049 | €32,184 | €19,062 | ▼ 40.8% |
| Stocks and contracts in progress3 | - | - | - | €2,717 | €2,252 | ▼ 17.1% |
| Stocks30/36 | - | - | - | €2,717 | €2,252 | ▼ 17.1% |
| Amounts receivable within one year40/41 | €10,153 | €1,504 | €14,565 | €18,006 | €13,056 | ▼ 27.5% |
| Trade receivables40 | €10,153 | €1,504 | €14,435 | €18,006 | - | - |
| Other amounts receivable41 | - | - | €130 | €0 | €13,056 | - |
| Cash at bank and in hand54/58 | €68,808 | €8,270 | €27,229 | €9,717 | €3,754 | ▼ 61.4% |
| Deferred charges and accrued income490/1 | €5,678 | €3,769 | €255 | €1,744 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €98,513 | €337,092 | €332,081 | €288,988 | €243,538 | ▼ 15.7% |
| Equity10/15 | €43,204 | €22,520 | €37,440 | €9,322 | -€36,411 | ▼ 491% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Profit (loss) carried forward14 | €23,204 | €2,520 | €17,440 | -€10,678 | -€56,411 | ▼ 428% |
| Amounts payable17/49 | €55,308 | €314,572 | €294,640 | €279,666 | €279,949 | ▲ 0.1% |
| Amounts payable after more than one year17 | - | €220,757 | €184,199 | €146,646 | €108,072 | ▼ 26.3% |
| Financial debts170/4 | - | €220,757 | €184,199 | €146,646 | €108,072 | ▼ 26.3% |
| Amounts payable within one year42/48 | €54,848 | €93,815 | €110,441 | €133,020 | €171,877 | ▲ 29.2% |
| Current portion of amounts payable after more than one year42 | - | €35,590 | €36,558 | €37,553 | €38,574 | ▲ 2.7% |
| Trade debts44 | €12,831 | €24,589 | €46,279 | €48,341 | €109,678 | ▲ 127% |
| Suppliers440/4 | €12,831 | €24,589 | €46,279 | €48,341 | €109,678 | ▲ 127% |
| Advances received on contracts in progress46 | €1,594 | €1,594 | €3,491 | €14,330 | - | - |
| Taxes, remuneration and social security45 | €29,508 | €20,640 | €21,729 | €19,369 | €23,625 | ▲ 22.0% |
| Taxes450/3 | €14,212 | €3,155 | €6,566 | €3,542 | €8,371 | ▲ 136% |
| Remuneration and social security454/9 | €15,296 | €17,485 | €15,162 | €15,827 | €15,254 | ▼ 3.6% |
| Other amounts payable47/48 | €10,915 | €11,401 | €2,385 | €13,427 | - | - |
| Accrued charges and deferred income492/3 | €460 | €0 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,204 | -€20,684 | €14,920 | -€28,119 | -€45,732 | ▼ 62.6% |
| + Depreciation and write-downs630 | €3,779 | €12,600 | €33,518 | €33,228 | €33,672 | ▲ 1.3% |
| Operating cash flow (approximation) | €26,984 | -€8,085 | €48,438 | €5,109 | -€12,060 | ▼ 336% |
| Investment in fixed assets (approximation) | - | -€322,275 | €0 | €0 | -€1,345 | - |
| Change in cash | - | -€60,538 | €18,959 | -€17,512 | -€5,963 | ▲ 65.9% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet -€45,732
Net result drops to -€45,732, the lowest in the series.
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
11-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €14,920
Net result €14,920 after one loss-making year.
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Wavre · 1 establishment unit since 2020
Ground area
254 m²
Building footprint
69 m²
Parcel 25112M0253/00B000, Wallonia. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Domino's
since 20202.302.955.786
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25112M0253/00B000 | Wallonia | 254 m² | 1 · 69 m² | - |
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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteWavre2.302.955.786
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Of 21,859 companies in sector 56112 we hold annual accounts for 9,782. 6,751 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
Founded30-04-2020
Fiscal year end31-12
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
56220Contract catering and other food service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0746614344
Also
9925:BE0746614344
Registered
24-06-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.