THOMAS
ActiveSummary
THOMAS has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €111,527 and a net result of -€9,069. Equity is growing by ~11.9% per year across the filed fiscal years. Its solvency ranks better than 34% of 924 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability66▼-6
Solvency48▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity short (current ratio 0.35 against 0.6 in 2024; short-term debt: 77.4% and cash: 10.1% of total assets), and 77.4% 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 77
Relative position
BE, all sectors
reference
Rental and leasing activities (NACE 77)
about 44% 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
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
22.6%
Return on assets
-1.8%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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
28 d late
2024
25 d late
2023
12 d early
2022
13 d early
2021
44 d early
2020
12 d early
2019
58 d early
← 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 12 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% 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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Financials · fiscal year 2025, abbreviated schema
Equity
€111,527▼ 7.5%
2024 · €120,597
Total assets
€493,556▼ 10.0%
2024 · €548,643
Net result
-€9,069
2024 · €13,481
Working capital
-€246,669▼ 44.9%
2024 · -€170,217
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 77, Rental and leasing 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-€15,987€10,100€37,564▲ 272%€45,232▲ 20.4%€12,284▼ 72.8%
Net result-€8,690below the sector's middle half€10,276within the sector's middle half€21,630within the sector's middle half▲ 110%€13,481within the sector's middle half▼ 37.7%-€9,069below the sector's middle half
Equity€75,209within the sector's middle half▼ 10.4%€85,485within the sector's middle half▲ 13.7%€107,115within the sector's middle half▲ 25.3%€120,597within the sector's middle half▲ 12.6%€111,527within the sector's middle half▼ 7.5%
Total assets€1.9mabove the sector's middle half▲ 15.6%€2.1mabove the sector's middle half▲ 8.4%€734,079within the sector's middle half▼ 64.8%€548,643within the sector's middle half▼ 25.3%€493,556within the sector's middle half▼ 10.0%
Debt€1.8m▲ 17.0%€2.0m▲ 8.2%€626,963▼ 68.7%€428,046▼ 31.7%€382,028▼ 10.8%
Working capital-€90,416▲ 20.4%-€163,691▼ 81.0%-€261,072▼ 59.5%-€170,217▲ 34.8%-€246,669▼ 44.9%
Solvency3.9%within the sector's middle half▼ 1.1pp4.1%below the sector's middle half▲ 0.2pp14.6%below the sector's middle half▲ 10.5pp22.0%within the sector's middle half▲ 7.4pp22.6%within the sector's middle half▲ 0.6pp
Staff (FTE)0below the sector's middle half0below the sector's middle half0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 77, Rental and leasing activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 73% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €493,556
Fixed assets
€358,197 ▲ 23.2%
Current assets
€135,359 ▼ 47.5%
Equity and liabilities €493,556
Equity
€111,527 ▼ 7.5%
Debt
€382,028 ▼ 10.8%
Debt's share of the balance-sheet total falls from 78.0% to 77.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€84,990▼
2024 · €122,606
Cash flow
€63,637▼
2024 · €90,855
Current ratio
0.35▼
2024 · 0.60
Debt to equity
3.43▼
2024 · 3.55
ROE
-8.1%▼
2024 · 11.2%
ROA
-1.8%▼
2024 · 2.5%
Interest coverage
325.32▼
2024 · 426.84
Debt ≤ 1 year
€382,028▼
2024 · €428,046
Income taxes
€21,396▼
2024 · €31,648
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,508 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a small loss
1.4%
went bankrupt
1.7%
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 0.6% 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 2,508 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 | €0 | - | €5,475 | €0 | €1,302 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €31,904 | €35,560 | €52,299 | €77,374 | €72,707 | ▼ 6.0% |
| Other operating charges640/8 | €101 | €970 | €1,164 | €1,375 | €1,132 | ▼ 17.6% |
| Non-recurring operating charges66A | - | €6,360 | €12,397 | €0 | €14,041 | - |
| Gross operating margin9900 | €16,018 | €52,990 | €103,424 | €123,981 | €100,164 | ▼ 19.2% |
| Operating profit (loss)9901 | -€15,987 | €10,100 | €37,564 | €45,232 | €12,284 | ▼ 72.8% |
| Financial income75/76B | €10,101 | €10,117 | €0 | €184 | €305 | ▲ 65.3% |
| Recurring financial income75 | €10,101 | €10,117 | €0 | €184 | €305 | ▲ 65.3% |
| Financial charges65/66B | €125 | €117 | €139 | €287 | €261 | ▼ 9.0% |
| Recurring financial charges65 | €125 | €117 | €139 | €287 | €261 | ▼ 9.0% |
| Profit (loss) for the period before taxes9903 | -€6,011 | €20,101 | €37,425 | €45,129 | €12,327 | ▼ 72.7% |
| Income taxes67/77 | €2,679 | €9,825 | €15,795 | €31,648 | €21,396 | ▼ 32.4% |
| Profit (loss) for the period9904 | -€8,690 | €10,276 | €21,630 | €13,481 | -€9,069 | ▼ 167% |
| Profit (loss) for the period to be appropriated9905 | -€8,690 | €10,276 | €21,630 | €13,481 | -€9,069 | ▼ 167% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.9m | €2.1m | €734,079 | €548,643 | €493,556 | ▼ 10.0% |
| Fixed assets21/28 | €165,625 | €249,176 | €368,188 | €290,814 | €358,197 | ▲ 23.2% |
| Tangible fixed assets22/27 | €115,625 | €199,176 | €318,188 | €240,814 | €308,197 | ▲ 28.0% |
| Furniture and vehicles24 | €115,625 | €199,176 | €318,188 | €240,814 | €308,197 | ▲ 28.0% |
| Financial fixed assets28 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Current assets29/58 | €1.8m | €1.8m | €365,891 | €257,829 | €135,359 | ▼ 47.5% |
| Stocks and contracts in progress3 | €308,830 | €5,000 | €137,773 | €47,488 | €0 | ▼ 100% |
| Stocks30/36 | €308,830 | €5,000 | €137,773 | €47,488 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €1.4m | €1.4m | €100,921 | €44,176 | €78,386 | ▲ 77.4% |
| Trade receivables40 | - | - | - | €1,600 | €50,000 | ▲ 3,026% |
| Other amounts receivable41 | €1.4m | €1.4m | €100,921 | €42,576 | €28,386 | ▼ 33.3% |
| Cash at bank and in hand54/58 | €27,829 | €394,418 | €122,321 | €160,505 | €49,874 | ▼ 68.9% |
| Deferred charges and accrued income490/1 | €0 | €3,283 | €4,875 | €5,661 | €7,098 | ▲ 25.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.9m | €2.1m | €734,079 | €548,643 | €493,556 | ▼ 10.0% |
| Equity10/15 | €75,209 | €85,485 | €107,115 | €120,597 | €111,527 | ▼ 7.5% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €77,699 | €79,285 | €100,915 | €114,397 | €114,397 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €75,839 | €77,425 | €99,055 | €112,537 | €112,537 | = |
| Profit (loss) carried forward14 | -€8,690 | €0 | - | - | -€9,069 | - |
| Amounts payable17/49 | €1.8m | €2.0m | €626,963 | €428,046 | €382,028 | ▼ 10.8% |
| Amounts payable within one year42/48 | €1.8m | €2.0m | €626,963 | €428,046 | €382,028 | ▼ 10.8% |
| Trade debts44 | €0 | €178,193 | €170,446 | €526 | €1,015 | ▲ 92.9% |
| Suppliers440/4 | €0 | €178,193 | €170,446 | €526 | €1,015 | ▲ 92.9% |
| Advances received on contracts in progress46 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Taxes, remuneration and social security45 | €7,182 | €14,378 | €25,575 | €41,085 | €33,318 | ▼ 18.9% |
| Taxes450/3 | €7,182 | €14,378 | €25,575 | €41,085 | €33,318 | ▼ 18.9% |
| Other amounts payable47/48 | €1.8m | €1.7m | €369,442 | €324,934 | €286,195 | ▼ 11.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,690 | €10,276 | €21,630 | €13,481 | -€9,069 | ▼ 167% |
| + Depreciation and write-downs630 | €31,904 | €35,560 | €52,299 | €77,374 | €72,707 | ▼ 6.0% |
| Operating cash flow (approximation) | €23,214 | €45,836 | €73,929 | €90,855 | €63,637 | ▼ 30.0% |
| Investment in fixed assets (approximation) | - | -€119,111 | -€171,311 | €0 | -€140,090 | - |
| Change in cash | - | €366,590 | -€272,097 | €38,184 | -€110,631 | ▼ 390% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 25 days late
2024
19-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €100,000Eq €107,115 ▲25.3%
2 profitable years in a row build equity to €107,115.
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €10,276
Net result €10,276 after one loss-making year.
17-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
19-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
03-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €68,038
Net result €68,038 after one loss-making year.
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
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, Essen · 1 establishment unit since 2002
Ground area
2,327 m²
Building footprint
397 m²
Volume, LiDAR
1,671 m³
Parcel 11642D0208/00B000, Flanders · tallest building 7.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
THOMAS BVBA
since 20022.095.500.304
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11642D0208/00B000 | Flanders | 2,327 m² | 1 · 397 m² | 7.6 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
33.33%
According to the 2025 annual accounts of THOMAS and those 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 666 companies in sector 77320 we hold annual accounts for 491. 340 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
Founded20-04-2001
Fiscal year end31-12
Activities, NACEBEL 2025
77320Rental and leasing activities
46648Wholesale trade
47781Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
E-invoicing
Reachable via Peppol
Peppol ID
0208:0474635648
Also
9925:BE0474635648
Registered
05-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.