THOPA
ActiveSummary
THOPA has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2,000 and a net result of €70,245. Equity is growing by ~46.3% per year across the filed fiscal years. Its solvency ranks better than 28% of 2330 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency26▼-71
Growth58▼-20
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Four 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 93
Relative position
BE, all sectors
reference
Sports, amusement and recreation activities (NACE 93)
about 50% 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
1.1%
Return on assets
39.7%
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 10-03-2026, 143 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
143 d early
2024
on the day
2023
27 d early
2022
47 d early
2021
32 d early
2020
47 d early
2019
21 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 39 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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
26-09-2026 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 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 What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€2,000▼ 97.5%
2024 · €79,335
Total assets
€176,811▲ 61.2%
2024 · €109,693
Net result
€70,245▲ 113%
2024 · €32,924
Working capital
-€37,562
2024 · €45,000
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
Line20212022202320242025
Operating result-€30,154€49,928€21,358▼ 57.2%€47,518▲ 122%€95,367▲ 101%
Net result-€30,935€44,016€12,915▼ 70.7%€32,924▲ 155%€70,245▲ 113%
Equity-€10,521€33,496€46,411▲ 38.6%€79,335▲ 70.9%€2,000▼ 97.5%
Total assets€49,320▲ 45.2%€69,177▲ 40.3%€81,097▲ 17.2%€109,693▲ 35.3%€176,811▲ 61.2%
Debt€59,841▲ 342%€35,681▼ 40.4%€34,686▼ 2.8%€30,358▼ 12.5%€174,811▲ 476%
Working capital-€38,964€7,340€16,243▲ 121%€45,000▲ 177%-€37,562
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 101% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €176,811
Fixed assets
€39,562 ▲ 8.5%
Current assets
€137,249 ▲ 87.4%
Equity and liabilities €176,811
Equity
€2,000 ▼ 97.5%
Debt
€174,811 ▲ 476%
Debt's share of the balance-sheet total rises from 27.7% to 98.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€95,725▲
2024 · €47,518
Cash flow
€70,603▲
2024 · €32,924
Current ratio
0.79▼
2024 · 2.59
Debt to equity
87.41▲
2024 · 0.38
ROA
39.7%▲
2024 · 30.0%
Interest coverage
110.46▲
2024 · 35.59
Debt ≤ 1 year
€174,811▲
2024 · €28,243
Debt > 1 year
€0▼
2024 · €2,115
Income taxes
€24,259▲
2024 · €13,259
A ratio outside any meaningful range has been withheld (balance sheet total €176,811, equity €2,000).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €13,350 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €223 | €223 | €75 | €0 | €358 | - |
| Other operating charges640/8 | €15,548 | €475 | €516 | €528 | €544 | ▲ 3.0% |
| Non-recurring operating charges66A | - | - | - | - | €36 | - |
| Gross operating margin9900 | -€14,383 | €50,626 | €21,949 | €48,046 | €96,304 | ▲ 100% |
| Operating profit (loss)9901 | -€30,154 | €49,928 | €21,358 | €47,518 | €95,367 | ▲ 101% |
| Financial income75/76B | - | €200 | €0 | €0 | €4 | ▲ 20,000% |
| Recurring financial income75 | - | €200 | €0 | €0 | €4 | ▲ 20,000% |
| Financial charges65/66B | €781 | €430 | €1,013 | €1,335 | €867 | ▼ 35.1% |
| Recurring financial charges65 | €781 | €430 | €1,013 | €1,335 | €867 | ▼ 35.1% |
| Profit (loss) for the period before taxes9903 | -€30,935 | €49,698 | €20,345 | €46,183 | €94,504 | ▲ 105% |
| Income taxes67/77 | - | €5,682 | €7,430 | €13,259 | €24,259 | ▲ 83.0% |
| Profit (loss) for the period9904 | -€30,935 | €44,016 | €12,915 | €32,924 | €70,245 | ▲ 113% |
| Profit (loss) for the period to be appropriated9905 | -€30,935 | €44,016 | €12,915 | €32,924 | €70,245 | ▲ 113% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €49,320 | €69,177 | €81,097 | €109,693 | €176,811 | ▲ 61.2% |
| Fixed assets21/28 | €43,197 | €36,525 | €36,450 | €36,450 | €39,562 | ▲ 8.5% |
| Tangible fixed assets22/27 | €297 | €75 | €0 | - | €1,962 | - |
| Plant, machinery and equipment23 | - | - | - | - | €1,252 | - |
| Furniture and vehicles24 | €297 | €75 | €0 | - | €710 | - |
| Financial fixed assets28 | €42,900 | €36,450 | €36,450 | €36,450 | €37,600 | ▲ 3.2% |
| Current assets29/58 | €6,123 | €32,653 | €44,647 | €73,243 | €137,249 | ▲ 87.4% |
| Amounts receivable within one year40/41 | €6,050 | €8,403 | €24,012 | €48,057 | €80,188 | ▲ 66.9% |
| Trade receivables40 | €6,050 | €8,403 | €24,000 | €46,583 | €78,714 | ▲ 69.0% |
| Other amounts receivable41 | - | - | €12 | €1,474 | €1,474 | = |
| Cash at bank and in hand54/58 | €33 | €22,994 | €19,629 | €25,130 | €57,062 | ▲ 127% |
| Deferred charges and accrued income490/1 | €40 | €1,256 | €1,006 | €56 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €49,320 | €69,177 | €81,097 | €109,693 | €176,811 | ▲ 61.2% |
| Equity10/15 | -€10,521 | €33,496 | €46,411 | €79,335 | €2,000 | ▼ 97.5% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | - | €31,000 | €44,411 | €77,335 | €0 | ▼ 100% |
| Distributable reserves133 | - | €31,000 | €44,411 | €77,335 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | -€12,521 | €496 | €0 | - | €0 | - |
| Amounts payable17/49 | €59,841 | €35,681 | €34,686 | €30,358 | €174,811 | ▲ 476% |
| Amounts payable after more than one year17 | €14,375 | €10,369 | €6,282 | €2,115 | €0 | ▼ 100% |
| Financial debts170/4 | €14,375 | €10,369 | €6,282 | €2,115 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €45,087 | €25,313 | €28,403 | €28,243 | €174,811 | ▲ 519% |
| Current portion of amounts payable after more than one year42 | €3,928 | €4,007 | €4,086 | €4,168 | €2,115 | ▼ 49.3% |
| Trade debts44 | €1,652 | €1,098 | €3,674 | €2,437 | €8,589 | ▲ 252% |
| Suppliers440/4 | €1,652 | €1,098 | €3,674 | €2,437 | €8,589 | ▲ 252% |
| Taxes, remuneration and social security45 | €2,740 | €7,999 | €9,881 | €11,398 | €11,392 | ▼ 0.1% |
| Taxes450/3 | €1,740 | €7,999 | €9,881 | €11,398 | €11,392 | ▼ 0.1% |
| Remuneration and social security454/9 | €1,000 | - | - | - | - | - |
| Other amounts payable47/48 | €36,768 | €12,210 | €10,762 | €10,240 | €152,715 | ▲ 1,391% |
| Accrued charges and deferred income492/3 | €379 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€30,935 | €44,016 | €12,915 | €32,924 | €70,245 | ▲ 113% |
| + Depreciation and write-downs630 | €223 | €223 | €75 | €0 | €358 | - |
| Operating cash flow (approximation) | -€30,712 | €44,239 | €12,990 | €32,924 | €70,603 | ▲ 114% |
| Investment in fixed assets (approximation) | - | €6,450 | €0 | €0 | -€3,470 | - |
| Change in cash | - | €22,962 | -€3,365 | €5,501 | €31,931 | ▲ 480% |
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
10-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2019net €70,245 ▲113%
Operating result €95,367, net result €70,245, both a record.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
14-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €44,016
Net result €44,016 after one loss-making year.
31-12
Financial
Liquidity times 9current ratio 1.29
Current ratio from 0.14 to 1.29; short-term debt falls from €45,087 to €25,313.
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet -€30,935
Net result drops to -€30,935, the lowest in the series; recovery starts the following year.
14-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
21-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 21 days late
Financial milestoneNBB 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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Gent · 1 establishment unit since 2019
Ground area
102 m²
Building footprint
70 m²
Volume, LiDAR
552 m³
Parcel 44804D2718/00R017, Flanders · tallest building 11.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
THOPA
since 20192.289.096.862
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44804D2718/00R017 | Flanders | 102 m² | 1 · 70 m² | 11.1 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.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 1,073 EUR awarded · 1,073 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 1,073 EUR | 1,073 EUR |
Similar companies · same sector, comparable size
HANGAR STUDIO
BE 0766.767.974
Braine-l'Alleud · Eq €2,000
DEBOSSCHERE TEXTILES INTERNATIONAL
BE 0420.465.207
Maarkedal · Eq €2,001
Copinel
BE 0802.630.656
Anderlues · Eq €1,943
YK EVENTS
BE 1003.928.125
Lanaken · Eq €2,138
ROYAL CONCEPT
BE 0445.665.411
Charleroi · Eq €1,854
Of 6,734 companies in sector 93299 we hold annual accounts for 1,168. 330 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
Founded08-05-2019
Fiscal year end31-12
Activities, NACEBEL 2025
93299Other amusement and recreation activities
82300Organisation of conventions and trade shows
Scores and ratios are computed by Checked and are not a credit decision.