Tholinco
ActiveSummary
Tholinco has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €207,863 and a net result of €103,509. Equity is growing by ~79.9% per year across the filed fiscal years. Its solvency ranks better than 75% of 31942 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency100=
Growth78=
Track record94
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €16,000 at 30 days acceptable
Liquidity ample (current ratio 3.78 against 5.08 in 2024; short-term debt: 21.1% and cash: 4.6% of total assets), and 21.2% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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 →
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
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
78.8%
Return on assets
39.3%
Age of the figures
9 mo
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 · 3 filingsDeviation from the deadline
2025
7 d early
2024
24 d early
2023
30 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 20 days before 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. Usually files around 7 July (3 of the last 3 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€207,863▲ 99.2%
2024 · €104,355
Total assets
€263,677▲ 103%
2024 · €130,073
Net result
€103,509▲ 61.2%
2024 · €64,208
Working capital
€154,755▲ 48.1%
2024 · €104,459
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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
Line202320242025
Operating result€52,206-€79,794▲ 52.8%€131,270▲ 64.5%
Net result€41,339within the sector's middle half-€64,208within the sector's middle half▲ 55.3%€103,509above the sector's middle half▲ 61.2%
Equity€41,006within the sector's middle half-€104,355within the sector's middle half▲ 154%€207,863within the sector's middle half▲ 99.2%
Total assets€62,593below the sector's middle half-€130,073within the sector's middle half▲ 108%€263,677within the sector's middle half▲ 103%
Debt€21,587-€25,718▲ 19.1%€55,813▲ 117%
Working capital€40,480within the sector's middle half-€104,459within the sector's middle half▲ 158%€154,755above the sector's middle half▲ 48.1%
Solvency65.5%within the sector's middle half-80.2%above the sector's middle half▲ 14.7pp78.8%above the sector's middle half▼ 1.4pp
Current ratio2.88within the sector's middle half-5.08above the sector's middle half▲ 2.203.78within the sector's middle half▼ 1.30
Return on assets (ROA)66.0%above the sector's middle half-49.4%above the sector's middle half▼ 16.7pp39.3%above the sector's middle half▼ 10.1pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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 has risen two years in a row; 2025 is 65% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €263,677
Fixed assets
€53,269
Current assets
€210,407
Equity and liabilities €263,677
Equity
€207,863 ▲ 99.2%
Debt
€55,813 ▲ 117%
Debt's share of the balance-sheet total rises from 19.8% to 21.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€137,416▲
2024 · €80,380
Cash flow
€109,655▲
2024 · €64,795
Debt to equity
0.27▲
2024 · 0.25
ROE
49.8%▼
2024 · 61.5%
Interest coverage
1025.42▲
2024 · 544.58
Debt ≤ 1 year
€55,652▲
2024 · €25,613
Income taxes
€30,251▲
2024 · €18,151
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 39,276 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
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 39,276 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 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €869 | €586 | €6,146 | ▲ 948% |
| Other operating charges640/8 | €302 | €687 | €418 | ▼ 39.1% |
| Gross operating margin9900 | €53,377 | €81,067 | €137,834 | ▲ 70.0% |
| Operating profit (loss)9901 | €52,206 | €79,794 | €131,270 | ▲ 64.5% |
| Financial income75/76B | €203 | €2,713 | €2,624 | ▼ 3.3% |
| Recurring financial income75 | €203 | €2,713 | €2,624 | ▼ 3.3% |
| Financial charges65/66B | €91 | €148 | €134 | ▼ 9.2% |
| Recurring financial charges65 | €91 | €148 | €134 | ▼ 9.2% |
| Profit (loss) for the period before taxes9903 | €52,319 | €82,359 | €133,760 | ▲ 62.4% |
| Income taxes67/77 | €10,981 | €18,151 | €30,251 | ▲ 66.7% |
| Profit (loss) for the period9904 | €41,339 | €64,208 | €103,509 | ▲ 61.2% |
| Profit (loss) for the period to be appropriated9905 | €41,339 | €64,208 | €103,509 | ▲ 61.2% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €62,593 | €130,073 | €263,677 | ▲ 103% |
| Formation expenses20 | €586 | €0 | - | - |
| Fixed assets21/28 | - | - | €53,269 | - |
| Tangible fixed assets22/27 | - | - | €52,268 | - |
| Furniture and vehicles24 | - | - | €52,268 | - |
| Financial fixed assets28 | - | - | €1,001 | - |
| Current assets29/58 | €62,006 | €130,073 | €210,407 | ▲ 61.8% |
| Amounts receivable within one year40/41 | - | - | €12,000 | - |
| Trade receivables40 | - | - | €12,000 | - |
| Current investments50/53 | €50,000 | €110,000 | €145,000 | ▲ 31.8% |
| Cash at bank and in hand54/58 | €9,014 | €18,703 | €12,229 | ▼ 34.6% |
| Deferred charges and accrued income490/1 | €2,992 | €1,369 | €41,178 | ▲ 2,907% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €62,593 | €130,073 | €263,677 | ▲ 103% |
| Equity10/15 | €41,006 | €104,355 | €207,863 | ▲ 99.2% |
| Contributions10/11 | €500 | €500 | €500 | = |
| Reserves13 | €40,506 | €103,855 | €207,363 | ▲ 99.7% |
| Distributable reserves133 | €40,506 | €103,855 | €207,363 | ▲ 99.7% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €21,587 | €25,718 | €55,813 | ▲ 117% |
| Amounts payable within one year42/48 | €21,526 | €25,613 | €55,652 | ▲ 117% |
| Trade debts44 | €2,947 | €726 | €3,409 | ▲ 370% |
| Suppliers440/4 | €2,947 | €726 | €3,409 | ▲ 370% |
| Taxes, remuneration and social security45 | €17,746 | €24,028 | €52,244 | ▲ 117% |
| Taxes450/3 | €17,746 | €24,028 | €52,244 | ▲ 117% |
| Other amounts payable47/48 | €833 | €859 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | €61 | €105 | €161 | ▲ 53.8% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €41,339 | €64,208 | €103,509 | ▲ 61.2% |
| + Depreciation and write-downs630 | €869 | €586 | €6,146 | ▲ 948% |
| Operating cash flow (approximation) | €42,207 | €64,795 | €109,655 | ▲ 69.2% |
| Change in cash | - | €9,689 | -€6,474 | ▼ 167% |
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
04-09
State Gazette act
Incorporation · Legal form clause
Registered office clause · Other statement
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2023net €103,509 ▲61.2%
Operating result €131,270, net result €103,509, both a record.
31-12
Financial
Equity above €200,000Eq €207,863 ▲99.2%
3 profitable years in a row build equity to €207,863.
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €100,000Eq €104,355 ▲154%
2 profitable years in a row build equity to €104,355.
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Ukkel · 1 establishment unit since 2023
Ground area
225 m²
Building footprint
224 m²
Volume, LiDAR
3,587 m³
Parcel 21612C0004/00D031, Brussels · tallest building 20.0 m, ±6 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
Lincolnstraat 55, 1180 Ukkel
since 20232.345.616.287
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21612C0004/00D031 | Brussels | 225 m² | 1 · 224 m² | 19.9 m · 6 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
Connections & network
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
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Of 82,646 companies in sector 70200 we hold annual accounts for 52,627. 39,752 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
Founded24-05-2023
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
63920Other information service activities
64210Activities of holding companies
64999Other financial services
73300Public relations and communication consultancy
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0802064987
Also
9925:BE0802064987
Registered
29-05-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.