Thoé
ActiveSummary
Thoé has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €110,739 and a net result of €399,159. Equity remains stable across the filed fiscal years (±0.2% per year). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+12
Solvency36▼-6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity tight (current ratio 1.02 against 1.08 in 2023; short-term debt: 83.6% and cash: 21.1% of total assets), and 88.7% of the assets are financed with debt.
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Signals
Four 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
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 12-06-2026, 49 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
49 d early
2024
9 d early
2023
27 d early
2022
on the day
2021
37 d early
2020
5 d late
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 17 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% 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. Usually files around 5 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€399,159▲ 296%
2023 · €100,921
Working capital
€16,685▼ 52.3%
2023 · €35,012
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€18,475▼ 88.0%€110,626▲ 499%€58,657▼ 47.0%€40,263▼ 31.4%€318,655▲ 691%
Net result€82,428within the sector's middle half▼ 61.3%€198,637above the sector's middle half▲ 141%€140,007above the sector's middle half▼ 29.5%€100,921within the sector's middle half▼ 27.9%€399,159above the sector's middle half▲ 296%
Equity€111,015within the sector's middle half▲ 0.4%€110,652within the sector's middle half▼ 0.3%€110,659within the sector's middle half=€111,580within the sector's middle half▲ 0.8%€110,739within the sector's middle half▼ 0.8%
Total assets€748,798within the sector's middle half▼ 7.3%€781,551within the sector's middle half▲ 4.4%€942,178within the sector's middle half▲ 20.6%€638,837within the sector's middle half▼ 32.2%€976,222within the sector's middle half▲ 52.8%
Debt€637,782▼ 8.5%€670,899▲ 5.2%€831,519▲ 23.9%€527,257▼ 36.6%€865,484▲ 64.1%
Working capital€23,570within the sector's middle half▼ 43.2%€30,300within the sector's middle half▲ 28.6%€39,855within the sector's middle half▲ 31.5%€35,012within the sector's middle half▼ 12.2%€16,685within the sector's middle half▼ 52.3%
Solvency14.8%within the sector's middle half▲ 1.1pp14.2%within the sector's middle half▼ 0.7pp11.7%below the sector's middle half▼ 2.4pp17.5%within the sector's middle half▲ 5.7pp11.3%below the sector's middle half▼ 6.1pp
Current ratio1.04within the sector's middle half▼ 0.021.05within the sector's middle half▲ 0.011.05within the sector's middle half▲ 0.011.08within the sector's middle half▲ 0.021.02within the sector's middle half▼ 0.05
Return on assets (ROA)11.0%above the sector's middle half▼ 15.4pp25.4%above the sector's middle half▲ 14.4pp14.9%above the sector's middle half▼ 10.6pp15.8%above the sector's middle half▲ 0.9pp40.9%above the sector's middle half▲ 25.1pp
Staff (FTE)4.6within the sector's middle half▼ 6.1%5.9within the sector's middle half▲ 28.3%5.1within the sector's middle half▼ 13.6%4within the sector's middle half▼ 21.6%4within the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 691% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €976,222
Fixed assets
€143,842 ▲ 4.0%
Current assets
€832,380 ▲ 66.3%
Equity and liabilities €976,222
Equity
€110,739 ▼ 0.8%
Debt
€865,484 ▲ 64.1%
Debt's share of the balance-sheet total rises from 82.5% to 88.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€354,425▲
2023 · €69,586
Cash flow
€434,929▲
2023 · €130,243
Quick ratio
0.81▲
2023 · 0.68
Debt to equity
7.82▲
2023 · 4.73
ROE
360.5%▲
2023 · 90.4%
Interest coverage
43.39▲
2023 · 8.62
Debt ≤ 1 year
€815,695▲
2023 · €465,541
Debt > 1 year
€38,789▼
2023 · €61,716
Income taxes
€3,372▼
2023 · €3,561
Staff costs
€341,956▲
2023 · €283,484
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,053 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
2.4%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 5,053 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €422,611 | €328,141 | €283,484 | €341,956 | ▲ 20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22,102 | €30,209 | €28,862 | €29,322 | €35,770 | ▲ 22.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | -€11,607 | - | - | - |
| Other operating charges640/8 | - | €2,847 | €14,147 | €9,370 | €4,189 | ▼ 55.3% |
| Non-recurring operating charges66A | - | €4,895 | €5,150 | - | - | - |
| Gross operating margin9900 | €291,330 | €571,189 | €423,349 | €362,440 | €700,571 | ▲ 93.3% |
| Operating profit (loss)9901 | €18,475 | €110,626 | €58,657 | €40,263 | €318,655 | ▲ 691% |
| Financial income75/76B | - | €100,109 | €97,454 | €72,293 | €92,045 | ▲ 27.3% |
| Recurring financial income75 | €75,480 | €100,109 | €97,454 | €72,293 | €86,045 | ▲ 19.0% |
| Non-recurring financial income76B | - | - | - | - | €6,000 | - |
| Financial charges65/66B | - | €8,046 | €7,924 | €8,074 | €8,169 | ▲ 1.2% |
| Recurring financial charges65 | €10,616 | €8,046 | €7,924 | €8,074 | €8,169 | ▲ 1.2% |
| Profit (loss) for the period before taxes9903 | €83,339 | €202,689 | €148,186 | €104,482 | €402,531 | ▲ 285% |
| Income taxes67/77 | €911 | €4,052 | €8,180 | €3,561 | €3,372 | ▼ 5.3% |
| Profit (loss) for the period9904 | €82,428 | €198,637 | €140,007 | €100,921 | €399,159 | ▲ 296% |
| Profit (loss) for the period to be appropriated9905 | €82,428 | €198,637 | €140,007 | €100,921 | €399,159 | ▲ 296% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €748,798 | €781,551 | €942,178 | €638,837 | €976,222 | ▲ 52.8% |
| Fixed assets21/28 | €133,845 | €95,256 | €129,889 | €138,284 | €143,842 | ▲ 4.0% |
| Tangible fixed assets22/27 | €57,045 | €68,432 | €103,040 | €111,870 | €117,231 | ▲ 4.8% |
| Plant, machinery and equipment23 | - | €33,948 | €73,639 | €68,100 | €82,416 | ▲ 21.0% |
| Furniture and vehicles24 | - | €25,096 | €25,691 | €41,379 | €33,744 | ▼ 18.5% |
| Other tangible fixed assets26 | - | €9,388 | €3,711 | €2,391 | €1,071 | ▼ 55.2% |
| Financial fixed assets28 | €76,800 | €26,825 | €26,849 | €26,414 | €26,611 | ▲ 0.7% |
| Current assets29/58 | €614,952 | €686,295 | €812,289 | €500,553 | €832,380 | ▲ 66.3% |
| Amounts receivable after more than one year29 | - | - | - | - | €230,000 | - |
| Other amounts receivable291 | - | - | - | - | €230,000 | - |
| Stocks and contracts in progress3 | €187,782 | €199,403 | €205,488 | €183,731 | €173,770 | ▼ 5.4% |
| Stocks30/36 | - | €199,403 | €205,488 | €183,731 | €173,770 | ▼ 5.4% |
| Amounts receivable within one year40/41 | €398,501 | €439,844 | €598,532 | €186,350 | €212,357 | ▲ 14.0% |
| Trade receivables40 | - | €204,926 | €299,326 | €169,119 | €197,073 | ▲ 16.5% |
| Other amounts receivable41 | - | €234,919 | €299,206 | €17,230 | €15,284 | ▼ 11.3% |
| Cash at bank and in hand54/58 | €8,533 | €40,861 | €1,172 | €120,581 | €205,654 | ▲ 70.6% |
| Deferred charges and accrued income490/1 | - | €6,186 | €7,097 | €9,891 | €10,599 | ▲ 7.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €748,798 | €781,551 | €942,178 | €638,837 | €976,222 | ▲ 52.8% |
| Equity10/15 | €111,015 | €110,652 | €110,659 | €111,580 | €110,739 | ▼ 0.8% |
| Contributions10/11 | - | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Reserves13 | €10,237 | €10,237 | €10,237 | €10,237 | €10,237 | = |
| Non-distributable reserves130/1 | - | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Reserves not available under the articles1311 | - | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Tax-exempt reserves132 | - | €237 | €237 | €237 | €237 | = |
| Profit (loss) carried forward14 | €778 | €415 | €421 | €1,343 | €501 | ▼ 62.7% |
| Amounts payable17/49 | €637,782 | €670,899 | €831,519 | €527,257 | €865,484 | ▲ 64.1% |
| Amounts payable after more than one year17 | €38,000 | €14,904 | €59,046 | €61,716 | €38,789 | ▼ 37.1% |
| Financial debts170/4 | - | €14,904 | €59,046 | €61,716 | €38,789 | ▼ 37.1% |
| Amounts payable within one year42/48 | €591,382 | €655,995 | €772,433 | €465,541 | €815,695 | ▲ 75.2% |
| Current portion of amounts payable after more than one year42 | - | €4,730 | €15,858 | €22,145 | €22,928 | ▲ 3.5% |
| Financial debts43 | - | - | €37,050 | - | €64 | - |
| Credit institutions430/8 | - | - | €37,050 | - | €64 | - |
| Trade debts44 | €94,859 | €58,498 | €141,586 | €62,867 | €46,058 | ▼ 26.7% |
| Suppliers440/4 | - | €58,498 | €141,586 | €62,867 | €46,058 | ▼ 26.7% |
| Advances received on contracts in progress46 | - | €312,052 | €200,832 | €244,597 | €293,958 | ▲ 20.2% |
| Taxes, remuneration and social security45 | - | €43,715 | €37,707 | €33,932 | €52,688 | ▲ 55.3% |
| Taxes450/3 | - | €3,324 | €3,652 | €2,911 | €7,548 | ▲ 159% |
| Remuneration and social security454/9 | - | €40,391 | €34,055 | €31,021 | €45,140 | ▲ 45.5% |
| Other amounts payable47/48 | - | €237,000 | €339,401 | €102,000 | €400,000 | ▲ 292% |
| Accrued charges and deferred income492/3 | - | - | €40 | - | €11,000 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €82,428 | €198,637 | €140,007 | €100,921 | €399,159 | ▲ 296% |
| + Depreciation and write-downs630 | €22,102 | €30,209 | €28,862 | €29,322 | €35,770 | ▲ 22.0% |
| Operating cash flow (approximation) | €104,530 | €228,846 | €168,868 | €130,243 | €434,929 | ▲ 234% |
| Investment in fixed assets (approximation) | - | €8,380 | -€63,494 | -€37,717 | -€41,329 | ▼ 9.6% |
| Change in cash | - | €32,329 | -€39,689 | €119,409 | €85,073 | ▼ 28.8% |
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
12-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €399,159 ▲296%
Operating result €318,655, net result €399,159, both a record.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
05-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 5 days late
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €213,010
Net result €213,010 after one loss-making year.
31-12
Financial
Equity above €100,000Eq €110,587 ▲14.5%
Equity rises from €96,578 to €110,587.
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
04-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
23-12
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 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
12 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, Waterloo · 1 establishment unit since 2010
Ground area
2,213 m²
Building footprint
800 m²
Volume, LiDAR
8,127 m³
Parcel 25764O0462/00A000, Wallonia · tallest building 12.1 m, ±3 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
IXINA WATERLOO
since 20102.216.836.713
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25764O0462/00A000 | Wallonia | 2,213 m² | 1 · 800 m² | 12.1 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.
Structure & network
Owners and holdings
1 ownerChain of control
- Enisly
- Thoé
Highest known parent: Enisly. The sources do not say who stands above it.
Owners 1
- EnislyparentSourceaccounts Enisly 2024100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 2,605 companies in sector 47551 we hold annual accounts for 1,723. 1,342 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
Founded30-03-2010
Fiscal year end31-12
Activities, NACEBEL 2025
47551Retail sale of household furniture
E-invoicing
Reachable via Peppol
Peppol ID
0208:0824446451
Also
9925:BE0824446451
Registered
22-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.