Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Every financial year from 2023 to 2025 closed with a loss. 2024 was the heaviest.
The micro format states no turnover.
Of this, €1.0m falls due within a year.
The 2023 accounts came latest: 30 days after the end of the period.
Lower net result than 95% of companies in real estate. Sector median €5,859 · 19,800 companies.
In July 2024, 1,252 companies had the same profile as THRUNO has now. Each dot stands for 4 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,762 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,252 companies, not a prediction for THRUNO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
| Company | ||||
|---|---|---|---|---|
| THRUNO Knokke-Heist | €5.2m | €166,616 | -11.1% | - |
| PRIJKELSPOORT Roeselare | €6.1m | €174,460 | 1.8% | - |
| PHABELLA Bredene | €6.2m | €246,335 | 1.1% | - |
| DNS HOLDING Nazareth-De Pinte | €5.9m | €223,909 | 87.5% | 2.6 |
| NEW MZ AALST Aalst | €6.4m | €124,316 | 51.8% | 0 |
| ROMEO DEVELOPMENT Uccle | €6.3m | €147,013 | -0.2% | 0 |
| LOKERHOF GROUP Knokke-Heist | €9.0m | €121,733 | 4.7% | - |
These companies have the same main activity as THRUNO: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €5.9m and €9m, founded between 2022 and 2023.
THRUNO files the micro format. That format states no turnover. The gross margin rose from -€44,917 in 2023 to €166,616 in 2025.
The balance sheet grew most from 2024 to 2025 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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