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THOEN AUTOGROEP

Active
Public limited companyfounded 1986active for 39 yearsBergemeersenstraat 120, 9300 Aalst, BelgiumKBO/BCE: BE 0430.008.423
Summary

The computed 12-month bankruptcy probability of THOEN AUTOGROEP is 3.6% (moderate). The 2025 annual accounts show negative equity (-€401,586) and a net result of -€545,023. Equity is shrinking by about 51% per year across the filed financial years. Its solvency ranks better than 9% of 476 sector peers (NACE 95, financial year 2025). The company has been active since 1986 and the Belgian Official Gazette contains no insolvency or warning signals.

Overview

Activity
General maintenance and repair of cars and light vans (up to 3.5 tonnes)
NACE 95311Retail sale of cars and light vans (up to 3.5 tonnes) NACE 47811
3rd largest company by total assets in Aalst, Other services sector3 sites
Size
€17.5mturnover 2025
Staff
18.7 FTE
Equity
-€401,586
Loss
-€545,023
Financial health
47 Fair Checked score 2025
Bankruptcy probabilitywithin 12 months
3.6%
Structure
Parent
STESTEMAT · 100%
  • François ThoenDirector
Auditor: BV Baker Tilly BedrijfsrevisorenAccounts 7 days early1 of 13 deeds read
Why 47raises riskNegative equity -€401,586Liquidity: current ratio 0.69, cash €45,689, halvedLoss of €545,023, the second in a row (financial year 2025)Sector: Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles (NACE 95)Show the evidence

Checked score

Score 2025
47 / 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 17% of its sector peers (NACE 95, small)
Financial strength · tick = 2024
Weak
Solvency 22-4
equity -3.2% of total assets
Liquidity 3-6
short-term debt 86.3% · cash 0.4%
Profitability 20-15
return on assets -4.3%
Bankruptcy probability, 12 months
3.6% Moderate
0%0.5%1.5%4%10%≥ 25%

About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.4% (328 companies, NACE 95, small)
Last 24 months 11-2024: 4.5% 12-2024: 4.9%▲ +0.4 percentage points vs 11-2024 01-2025: 7.5%▲ +2.6 percentage points vs 12-2024 02-2025: 7.5%● unchanged vs 01-2025 03-2025: 7.5%● unchanged vs 02-2025 04-2025: 6.8%▼ -0.7 percentage points vs 03-2025 05-2025: 6.8%● unchanged vs 04-2025 06-2025: 6.8%● unchanged vs 05-2025 07-2025: 6.8%● unchanged vs 06-2025 08-2025: 8.6%▲ +1.8 percentage points vs 07-2025highest value 09-2025: 4.9%▼ -3.7 percentage points vs 08-2025 10-2025: 6.1%▲ +1.2 percentage points vs 09-2025 11-2025: 6.2%▲ +0.1 percentage points vs 10-2025 12-2025: 6.8%▲ +0.6 percentage points vs 11-2025 01-2026: 2.4%▼ -4.4 percentage points vs 12-2025 02-2026: 2.3%▼ -0.1 percentage points vs 01-2026 03-2026: 2.3%● unchanged vs 02-2026lowest value 04-2026: 2.3%● unchanged vs 03-2026lowest value 05-2026: 2.3%● unchanged vs 04-2026lowest value 06-2026: 2.3%● unchanged vs 05-2026 07-2026: 2.3%● unchanged vs 06-2026 08-2026: 3.6%▲ +1.3 percentage points vs 07-2026 09-2026: 3.6%● unchanged vs 08-2026 10-2026: 3.6%● unchanged vs 09-2026
No credit on open account
Liquidity insufficient (current ratio 0.69, compared with 0.71 in 2024; short-term debt: 86.3% and cash: 0.4% of total assets), and equity is negative.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 95, small): better than 6% on solvency, 4% on liquidity, 12% on profitability and 46% on growth.

The bankruptcy probability was computed on 11-10-2026 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.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Six signals.
raises riskneutral
raises risk · Negative equity -€401,586
NBB · annual accounts
raises risk · Liquidity: current ratio 0.69, cash €45,689, halved
NBB · annual accounts
raises risk · Loss of €545,023, the second in a row (financial year 2025)
NBB · annual accounts
raises risk · Sector: Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles (NACE 95)
KBO
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
1819202122232425
2018 to 2025 · latest year -€401,586
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 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
7 days early
2024
137 days late
2023
377 days late
2022
156 days late
2021
194 days late
2020
81 days late
2019
78 days late
← 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 145 days after the deadline; the sector median (NACE 95) for financial year 2024 is 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 3 January (4 of the last 5 filed years within 163 days of that day).
Companies Code · seven months
Where today falls in the filing period
12-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2025 · full…
  2. Weakest financial yearnet -€545,023
  3. Annual accounts filedfinancial year 2024 · full…

Key points

  • Risk: Negative equityfinancial year 2025: debts exceed assets -€401,586 View
  • Risk: 4 loss-making years in a rowloss financial year 2025 -€545,023 View
  • Caution: Result fell in 2025from -€160,310 to -€545,023 ▼ 240% View
  • Caution: Among the weakest 5% on net resultsector median €54,677 · 476 companies -€545,023 View
  • Controlled by STESTEMAT 100% View

By topic

Financials

Financial year
2025
Turnover
€17.5m
Loss
-€545,023
Solvency
-3.2%
Turnover▲ 17.2%
Net result
20182025
Go to Financials

Board & ownership

Board
1 member
Parent
STESTEMAT · 100%
Auditor
BV Baker Tilly Bedrijfsrevisoren
  • François ThoenDirector
Go to Board & ownership

Timeline

Events
42
Since
1988
Next accounts
by 31-07-2027
  1. 02-09-2025Reappointment: Baker Tilly Bedrijfsrevisoren BV (statutory auditor)
  2. 12-08-2025Annual accounts filed
  3. 03-01-2024Annual accounts filed
Go to Timeline

Company details

Sites
3
Legal form
Public limited company
Activity
General maintenance and repair of cars and light…NACE 95311
Founded
12-12-1986
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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