THOFAN
ActiveSummary
THOFAN has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €234,095 and a net result of €2,000. Equity is growing by ~56.7% per year across the filed fiscal years. Its solvency ranks better than 53% of 31896 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability39▼-47
Solvency84=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €18,000 at 30 days acceptable
Liquidity ample (current ratio 6.34 against 6.13 in 2024; short-term debt: 15% of total assets), and 40.7% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
59.3%
Return on assets
0.5%
Age of the figures
9 mo
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 · 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
21 d late
2021
31 d late
2020
31 d late
2019
116 d early
2018
127 d late
2017
153 d 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 40 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator 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 What other support did companies like this one receive, and it did not?Subsidy mirror How does this company compare with its sector?Sector benchmark
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Turnover
€165,387
EBIT margin
19.6%
Net result
€2,000▼ 96.3%
2024 · €54,013
Working capital
€316,234▲ 0.6%
2024 · €314,234
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
Line20192020202120242025
Turnover€165,387
Operating result€32,424▼ 46.2%€5,000▼ 84.6%€0▼ 100.0%€64,384-€2,000▼ 96.9%
Net result€27,016▼ 53.3%€5,000▼ 81.5%€0▼ 100.0%€54,013-€2,000▼ 96.3%
EBIT margin19.6%
Equity€33,484▲ 418%€38,484▲ 14.9%€38,484=€232,095-€234,095▲ 0.9%
Total assets€147,888▲ 6.6%€152,888▲ 3.4%€152,888=€394,918-€394,918=
Debt€114,403▼ 13.5%€114,403=€114,403=€162,823-€160,823▼ 1.2%
Working capital€52,108▲ 12.9%€57,108▲ 9.6%€57,108=€314,234-€316,234▲ 0.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 97% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €394,918
Fixed assets
€19,420 =
Current assets
€375,499 =
Equity and liabilities €394,918
Equity
€234,095 ▲ 0.9%
Debt
€160,823 ▼ 1.2%
Debt's share of the balance-sheet total falls from 41.2% to 40.7%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
6.34▲
2024 · 6.13
Debt to equity
0.69▼
2024 · 0.70
ROE
0.9%▼
2024 · 23.3%
ROA
0.5%▼
2024 · 13.7%
Debt ≤ 1 year
€59,265▼
2024 · €61,265
Debt > 1 year
€101,558=
2024 · €101,558
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,891 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.6%
went bankrupt
4.0%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,058 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% | 1.6% |
| 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 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 10,891 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 | 2019 | 2020 | 2021 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €165,387 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €15,992 | - | - |
| Other operating charges640/8 | - | - | - | €2,869 | - | - |
| Gross operating margin9900 | €54,269 | €5,000 | €0 | €83,244 | €2,000 | ▼ 97.6% |
| Operating profit (loss)9901 | €32,424 | €5,000 | €0 | €64,384 | €2,000 | ▼ 96.9% |
| Financial income75/76B | - | - | - | €7,550 | - | - |
| Recurring financial income75 | - | - | - | €7,550 | - | - |
| Financial charges65/66B | - | - | - | €11,380 | - | - |
| Recurring financial charges65 | €2,720 | - | - | €5,404 | - | - |
| Non-recurring financial charges66B | - | - | - | €5,976 | - | - |
| Profit (loss) for the period before taxes9903 | €29,704 | €5,000 | €0 | €60,554 | €2,000 | ▼ 96.7% |
| Income taxes67/77 | €2,688 | - | - | €6,541 | - | - |
| Profit (loss) for the period9904 | €27,016 | €5,000 | €0 | €54,013 | €2,000 | ▼ 96.3% |
| Profit (loss) for the period to be appropriated9905 | €27,016 | €5,000 | €0 | €54,013 | €2,000 | ▼ 96.3% |
| Line | 2019 | 2020 | 2021 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €147,888 | €152,888 | €152,888 | €394,918 | €394,918 | = |
| Fixed assets21/28 | €13,810 | €13,810 | €13,810 | €19,420 | €19,420 | = |
| Tangible fixed assets22/27 | €13,810 | €13,810 | €13,810 | €19,420 | €19,420 | = |
| Land and buildings22 | - | - | - | €9,917 | €19,420 | ▲ 95.8% |
| Plant, machinery and equipment23 | - | - | €13,810 | €7,696 | - | - |
| Furniture and vehicles24 | - | - | - | €1,807 | - | - |
| Current assets29/58 | €134,077 | €139,077 | €139,077 | €375,499 | €375,499 | = |
| Amounts receivable after more than one year29 | - | - | €100,000 | €290,000 | €290,000 | = |
| Other amounts receivable291 | - | - | €100,000 | €290,000 | €290,000 | = |
| Amounts receivable within one year40/41 | €34,077 | €34,077 | €34,077 | €85,499 | €85,499 | = |
| Trade receivables40 | - | - | €34,077 | €20,907 | €85,499 | ▲ 309% |
| Other amounts receivable41 | - | - | - | €64,592 | - | - |
| Cash at bank and in hand54/58 | - | €5,000 | €5,000 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €147,888 | €152,888 | €152,888 | €394,918 | €394,918 | = |
| Equity10/15 | €33,484 | €38,484 | €38,484 | €232,095 | €234,095 | ▲ 0.9% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €268 | €268 | €268 | €267 | €267 | = |
| Non-distributable reserves130/1 | - | - | €268 | €267 | €267 | = |
| Reserves not available under the articles1311 | - | - | €268 | €267 | €267 | = |
| Profit (loss) carried forward14 | €27,016 | €32,016 | €32,016 | €225,627 | €227,627 | ▲ 0.9% |
| Amounts payable17/49 | €114,403 | €114,403 | €114,403 | €162,823 | €160,823 | ▼ 1.2% |
| Amounts payable after more than one year17 | €32,434 | €32,434 | €32,434 | €101,558 | €101,558 | = |
| Financial debts170/4 | - | - | €32,434 | €101,558 | €101,558 | = |
| Amounts payable within one year42/48 | €81,970 | €81,970 | €81,970 | €61,265 | €59,265 | ▼ 3.3% |
| Current portion of amounts payable after more than one year42 | - | - | €8,111 | €39,267 | €39,267 | = |
| Financial debts43 | - | - | €320 | - | - | - |
| Credit institutions430/8 | - | - | €320 | - | - | - |
| Trade debts44 | €10,690 | €10,690 | €10,690 | €7,884 | €7,884 | = |
| Suppliers440/4 | - | - | €10,690 | €7,884 | €7,884 | = |
| Taxes, remuneration and social security45 | - | - | €62,848 | €10,827 | €10,827 | = |
| Taxes450/3 | - | - | €2,848 | €10,827 | €10,827 | = |
| Remuneration and social security454/9 | - | - | €60,000 | - | - | - |
| Other amounts payable47/48 | - | - | - | €3,287 | €1,287 | ▼ 60.9% |
| Line | 2019 | 2020 | 2021 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,016 | €5,000 | €0 | €54,013 | €2,000 | ▼ 96.3% |
| + Depreciation and write-downs630 | - | - | - | €15,992 | - | - |
| Operating cash flow (approximation) | €27,016 | €5,000 | €0 | €70,004 | €2,000 | ▼ 97.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | €0 | - |
| Change in cash | - | - | €0 | - | - | - |
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
21-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 21 days late
2024
31-12
Financial
Liquidity quadruplescurrent ratio 6.13
Current ratio from 1.70 to 6.13; short-term debt falls from €81,970 to €61,265.
31-12
Financial
Equity above €200,000Eq €232,095 ▲503%
5 profitable years in a row build equity to €232,095.
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Weakest financial yearnet €0 ▼100%
Net result drops to €0, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
06-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
05-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 127 days late
2018
31-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 153 days late
03-02
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 187 days late
2016
07-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 7 days late
2015
23-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 23 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, Maldegem · 1 establishment unit since 2014
Ground area
556 m²
Building footprint
124 m²
Volume, LiDAR
541 m³
Parcel 43503H1002/00Y000, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Buurtstraat 92, 9990 Maldegem
since 20142.232.312.963
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43503H1002/00Y000 | Flanders | 556 m² | 1 · 124 m² | 8.3 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
2022 to 2024 · 3 entries · 239 EUR awarded · 239 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 135 EUR | 135 EUR |
| 2023 | 1 | 45 EUR | 45 EUR |
| 2022 | 1 | 59 EUR | 59 EUR |
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 39,188 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
Founded22-05-2014
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0552866049
Also
9925:BE0552866049
Registered
14-08-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.