THUBOCO
ActiveSummary
THUBOCO has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €380,092 and a net result of -€26,334. Equity remains stable across the filed fiscal years (±2% per year). Its solvency ranks better than 95% of 12819 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability10▼-6
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 24.22 against 17.17 in 2024; short-term debt: 3.8% and cash: 12.6% of total assets), and 3.8% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six 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 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer 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
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
96.2%
Return on assets
-6.7%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€26,334
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
32 d late
2023
30 d late
2022
31 d late
2021
31 d late
2020
26 d late
2019
108 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 41 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€27,759
EBIT margin
-148.6%
Net result
-€26,334▼ 204%
2024 · -€8,663
Working capital
€345,880▼ 8.7%
2024 · €378,965
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 69, Legal and accounting 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
Turnover
Operating result€2,273▼ 92.6%€8,109▲ 257%€3▼ 100.0%-€6,376-€26,820▼ 321%
Net result€15,591within the sector's middle half▼ 65.6%€7,168below the sector's middle half▼ 54.0%-€1,600below the sector's middle half-€8,663below the sector's middle half▼ 441%-€26,334below the sector's middle half▼ 204%
EBIT margin
Equity€409,521above the sector's middle half▲ 4.0%€416,689above the sector's middle half▲ 1.8%€415,089above the sector's middle half▼ 0.4%€406,426above the sector's middle half▼ 2.1%€380,092above the sector's middle half▼ 6.5%
Total assets€420,051within the sector's middle half▲ 4.1%€430,089within the sector's middle half▲ 2.4%€427,968within the sector's middle half▼ 0.5%€429,866within the sector's middle half▲ 0.4%€394,985within the sector's middle half▼ 8.1%
Debt€10,530▲ 8.1%€13,400▲ 27.3%€12,879▼ 3.9%€23,441▲ 82.0%€14,893▼ 36.5%
Working capital€381,744above the sector's middle half▲ 4.5%€388,719above the sector's middle half▲ 1.8%€386,478above the sector's middle half▼ 0.6%€378,965above the sector's middle half▼ 1.9%€345,880above the sector's middle half▼ 8.7%
Solvency97.5%above the sector's middle half▼ 0.1pp96.9%above the sector's middle half▼ 0.6pp97.0%above the sector's middle half▲ 0.1pp94.5%above the sector's middle half▼ 2.4pp96.2%above the sector's middle half▲ 1.7pp
Current ratio37.25above the sector's middle half▼ 1.2430.01above the sector's middle half▼ 7.2431.01above the sector's middle half▲ 1.0017.17above the sector's middle half▼ 13.8424.22above the sector's middle half▲ 7.06
Return on assets (ROA)3.7%below the sector's middle half▼ 7.5pp1.7%below the sector's middle half▼ 2.0pp-0.4%below the sector's middle half▼ 2.0pp-2.0%below the sector's middle half▼ 1.6pp-6.7%below the sector's middle half▼ 4.7pp
above
within
below
the middle half (P25 to P75) of NACE 69, Legal and accounting activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €26,820 in 2025 against €6,376 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €394,985
Fixed assets
€34,212 ▲ 24.6%
Current assets
€360,773 ▼ 10.3%
Equity and liabilities €394,985
Equity
€380,092 ▼ 6.5%
Debt
€14,893 ▼ 36.5%
Debt's share of the balance-sheet total falls from 5.5% to 3.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€24,629▼
2024 · -€5,226
Cash flow
-€24,143▼
2024 · -€7,513
Debt to equity
0.04▼
2024 · 0.06
ROE
-6.9%▼
2024 · -2.1%
Interest coverage
-32.11▼
2024 · -5.99
Debt ≤ 1 year
€14,893▼
2024 · €23,441
Income taxes
-€286▼
2024 · €1,416
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
8.5%
stopped otherwise
90%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 12,321 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €2,815 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €927 | €1,035 | €1,617 | €1,150 | €2,191 | ▲ 90.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €59,160 | - |
| Other operating charges640/8 | €1,317 | €857 | €1,255 | €1,665 | €1,316 | ▼ 20.9% |
| Gross operating margin9900 | €4,517 | €12,816 | €2,875 | -€3,561 | €35,847 | ▲ 1,107% |
| Operating profit (loss)9901 | €2,273 | €8,109 | €3 | -€6,376 | -€26,820 | ▼ 321% |
| Financial income75/76B | €14,518 | €3 | €36 | - | €967 | - |
| Recurring financial income75 | €14,518 | €3 | €36 | - | €967 | - |
| Financial charges65/66B | €983 | €657 | €606 | €872 | €767 | ▼ 12.0% |
| Recurring financial charges65 | €983 | €657 | €606 | €872 | €767 | ▼ 12.0% |
| Profit (loss) for the period before taxes9903 | €15,808 | €7,455 | -€566 | -€7,248 | -€26,620 | ▼ 267% |
| Income taxes67/77 | €217 | €287 | €1,034 | €1,416 | -€286 | ▼ 120% |
| Profit (loss) for the period9904 | €15,591 | €7,168 | -€1,600 | -€8,663 | -€26,334 | ▼ 204% |
| Profit (loss) for the period to be appropriated9905 | €15,591 | €7,168 | -€1,600 | -€8,663 | -€26,334 | ▼ 204% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €420,051 | €430,089 | €427,968 | €429,866 | €394,985 | ▼ 8.1% |
| Fixed assets21/28 | €27,777 | €27,970 | €28,611 | €27,461 | €34,212 | ▲ 24.6% |
| Tangible fixed assets22/27 | €27,777 | €27,970 | €28,611 | €27,461 | €34,212 | ▲ 24.6% |
| Plant, machinery and equipment23 | €26,194 | €26,194 | €26,194 | €26,194 | €26,194 | = |
| Furniture and vehicles24 | €1,583 | €1,776 | €2,417 | €1,267 | €8,018 | ▲ 533% |
| Current assets29/58 | €392,274 | €402,119 | €399,357 | €402,406 | €360,773 | ▼ 10.3% |
| Amounts receivable after more than one year29 | €305,000 | €305,000 | €305,000 | €305,000 | €305,000 | = |
| Other amounts receivable291 | €305,000 | €305,000 | €305,000 | €305,000 | €305,000 | = |
| Amounts receivable within one year40/41 | €81,916 | €73,010 | €87,765 | €93,043 | €286 | ▼ 99.7% |
| Trade receivables40 | €81,916 | €73,010 | €87,765 | €93,043 | - | - |
| Other amounts receivable41 | - | - | - | - | €286 | - |
| Cash at bank and in hand54/58 | €4,720 | €21,698 | €4,102 | €0 | €49,595 | ▲ 17,101,624% |
| Deferred charges and accrued income490/1 | €638 | €2,411 | €2,490 | €4,363 | €5,892 | ▲ 35.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €420,051 | €430,089 | €427,968 | €429,866 | €394,985 | ▼ 8.1% |
| Equity10/15 | €409,521 | €416,689 | €415,089 | €406,426 | €380,092 | ▼ 6.5% |
| Contributions10/11 | €6,334 | €6,334 | €6,334 | €6,334 | €6,334 | = |
| Reserves13 | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Non-distributable reserves130/1 | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Reserves not available under the articles1311 | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Profit (loss) carried forward14 | €401,287 | €408,455 | €406,855 | €398,192 | €371,858 | ▼ 6.6% |
| Amounts payable17/49 | €10,530 | €13,400 | €12,879 | €23,441 | €14,893 | ▼ 36.5% |
| Amounts payable within one year42/48 | €10,530 | €13,400 | €12,879 | €23,441 | €14,893 | ▼ 36.5% |
| Financial debts43 | - | - | - | €3,349 | - | - |
| Credit institutions430/8 | - | - | - | €3,349 | - | - |
| Trade debts44 | €3,666 | €9,109 | €6,880 | €11,961 | €4,708 | ▼ 60.6% |
| Suppliers440/4 | €3,666 | €9,109 | €6,880 | €11,961 | €4,708 | ▼ 60.6% |
| Taxes, remuneration and social security45 | €3,194 | €4,291 | €5,998 | €8,130 | €10,185 | ▲ 25.3% |
| Taxes450/3 | €3,194 | €4,291 | €5,998 | €8,130 | €10,185 | ▲ 25.3% |
| Other amounts payable47/48 | €3,670 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,591 | €7,168 | -€1,600 | -€8,663 | -€26,334 | ▼ 204% |
| + Depreciation and write-downs630 | €927 | €1,035 | €1,617 | €1,150 | €2,191 | ▲ 90.5% |
| Operating cash flow (approximation) | €16,518 | €8,203 | €17 | -€7,513 | -€24,143 | ▼ 221% |
| Investment in fixed assets (approximation) | - | -€1,228 | -€2,258 | €0 | -€8,942 | - |
| Change in cash | - | €16,978 | -€17,596 | -€4,101 | €49,595 | ▲ 1,309% |
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
01-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 32 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
31-12
Financial
Highest result since 2018net €45,329 ▲53.7%
Operating result €30,666, net result €45,329, both a record.
16-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 108 days late
2019
31-12
Financial
Back to profitnet €29,491
Net result €29,491 after one loss-making year.
31-12
Financial
Liquidity quadruplescurrent ratio 20.78
Current ratio from 5.18 to 20.78; short-term debt falls from €67,144 to €15,923.
10-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
01-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 1 day late
18-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 171 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, Brussel · 1 establishment unit since 2000
Ground area
249 m²
Building footprint
95 m²
Volume, LiDAR
896 m³
Parcel 21822R0497/00X007, Brussels · tallest building 13.3 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Olivier Thuysbaert
since 20002.091.064.137
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21822R0497/00X007 | Brussels | 249 m² | 1 · 95 m² | 13.3 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.
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Of 2,771 companies in sector 69109 we hold annual accounts for 1,209. 803 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
Founded18-05-1999
Fiscal year end31-12
Activities, NACEBEL 2025
69109Other legal services
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0465915546
Also
9925:BE0465915546
Registered
28-08-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.