thus.
ActiveSummary
thus. has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €51,892 and a net result of €32,200. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 73% of 7097 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+17
Solvency100▲+16
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity ample (current ratio 3.97 against 2.01 in 2024; short-term debt: 22.9% and cash: 72.6% of total assets), and 22.9% 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 · 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
77.1%
Return on assets
47.8%
Age of the figures
15 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
2122232425
2021 to 2025 · latest year €51,892
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 18-12-2025, 44 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
44 d early
2024
24 d late
2023
43 d early
2022
1 d early
2021
2 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 13 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€51,892▲ 164%
2024 · €19,691
Total assets
€67,319▲ 101%
2024 · €33,543
Net result
€32,200▲ 743%
2024 · €3,820
Working capital
€45,846▲ 229%
2024 · €13,922
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations 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€10,767-€7,620▼ 29.2%€36,966▲ 385%€7,461▼ 79.8%€42,640▲ 471%
Net result€6,841within the sector's middle half-€2,794within the sector's middle half▼ 59.2%€25,235within the sector's middle half▲ 803%€3,820within the sector's middle half▼ 84.9%€32,200within the sector's middle half▲ 743%
Equity€14,341below the sector's middle half-€17,136below the sector's middle half▲ 19.5%€42,371within the sector's middle half▲ 147%€19,691within the sector's middle half▼ 53.5%€51,892within the sector's middle half▲ 164%
Total assets€34,862below the sector's middle half-€31,963below the sector's middle half▼ 8.3%€62,656within the sector's middle half▲ 96.0%€33,543below the sector's middle half▼ 46.5%€67,319within the sector's middle half▲ 101%
Debt€20,520-€14,827▼ 27.7%€20,285▲ 36.8%€13,852▼ 31.7%€15,428▲ 11.4%
Working capital€12,978within the sector's middle half-€9,180within the sector's middle half▼ 29.3%€34,487within the sector's middle half▲ 276%€13,922within the sector's middle half▼ 59.6%€45,846within the sector's middle half▲ 229%
Solvency41.1%within the sector's middle half-53.6%within the sector's middle half▲ 12.5pp67.6%within the sector's middle half▲ 14.0pp58.7%within the sector's middle half▼ 8.9pp77.1%within the sector's middle half▲ 18.4pp
Current ratio1.63within the sector's middle half-1.64within the sector's middle half▲ 0.012.70within the sector's middle half▲ 1.062.01within the sector's middle half▼ 0.703.97within the sector's middle half▲ 1.97
Return on assets (ROA)19.6%within the sector's middle half-8.7%within the sector's middle half▼ 10.9pp40.3%above the sector's middle half▲ 31.5pp11.4%within the sector's middle half▼ 28.9pp47.8%above the sector's middle half▲ 36.4pp
above
within
below
the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations 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 recovers in 2025; 2025 is 471% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €67,319
Fixed assets
€6,045 ▲ 4.8%
Current assets
€61,274 ▲ 121%
Equity and liabilities €67,319
Equity
€51,892 ▲ 164%
Debt
€15,428 ▲ 11.4%
Debt's share of the balance-sheet total falls from 41.3% to 22.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€44,905▲
2024 · €9,577
Cash flow
€34,465▲
2024 · €5,936
Debt to equity
0.30▼
2024 · 0.70
ROE
62.1%▲
2024 · 19.4%
Interest coverage
47.71▲
2024 · 32.97
Debt ≤ 1 year
€15,428▲
2024 · €13,852
Income taxes
€9,505▲
2024 · €3,352
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.1% 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 26,970 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37 | €1,348 | €2,115 | €2,115 | €2,265 | ▲ 7.0% |
| Other operating charges640/8 | - | €799 | €3,158 | €1,162 | €1,386 | ▲ 19.3% |
| Gross operating margin9900 | €12,322 | €9,767 | €42,240 | €10,738 | €46,291 | ▲ 331% |
| Operating profit (loss)9901 | €10,767 | €7,620 | €36,966 | €7,461 | €42,640 | ▲ 471% |
| Financial income75/76B | - | €12 | €48 | €1 | €7 | ▲ 556% |
| Recurring financial income75 | €44 | €12 | €48 | €1 | €7 | ▲ 556% |
| Financial charges65/66B | - | €755 | €2,428 | €291 | €941 | ▲ 224% |
| Recurring financial charges65 | €596 | €755 | €2,428 | €291 | €941 | ▲ 224% |
| Profit (loss) for the period before taxes9903 | €10,215 | €6,877 | €34,585 | €7,172 | €41,706 | ▲ 482% |
| Income taxes67/77 | €3,374 | €4,082 | €9,350 | €3,352 | €9,505 | ▲ 184% |
| Profit (loss) for the period9904 | €6,841 | €2,794 | €25,235 | €3,820 | €32,200 | ▲ 743% |
| Profit (loss) for the period to be appropriated9905 | €6,841 | €2,794 | €25,235 | €3,820 | €32,200 | ▲ 743% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €34,862 | €31,963 | €62,656 | €33,543 | €67,319 | ▲ 101% |
| Fixed assets21/28 | €1,363 | €8,500 | €7,884 | €5,769 | €6,045 | ▲ 4.8% |
| Tangible fixed assets22/27 | €1,363 | €8,500 | €7,884 | €5,769 | €6,045 | ▲ 4.8% |
| Plant, machinery and equipment23 | - | €856 | €510 | €163 | - | - |
| Furniture and vehicles24 | - | €5,292 | €4,080 | €2,869 | €1,929 | ▼ 32.8% |
| Other tangible fixed assets26 | - | €2,351 | €3,294 | €2,737 | €4,117 | ▲ 50.4% |
| Current assets29/58 | €33,498 | €23,463 | €54,771 | €27,775 | €61,274 | ▲ 121% |
| Amounts receivable within one year40/41 | €20,717 | €18,309 | €24,254 | €22,671 | €12,375 | ▼ 45.4% |
| Trade receivables40 | - | €17,877 | €18,604 | €16,562 | €9,375 | ▼ 43.4% |
| Other amounts receivable41 | - | €433 | €5,650 | €6,109 | €3,000 | ▼ 50.9% |
| Cash at bank and in hand54/58 | €11,001 | €3,226 | €30,517 | €3,419 | €48,899 | ▲ 1,330% |
| Deferred charges and accrued income490/1 | - | €1,928 | - | €1,684 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €34,862 | €31,963 | €62,656 | €33,543 | €67,319 | ▲ 101% |
| Equity10/15 | €14,341 | €17,136 | €42,371 | €19,691 | €51,892 | ▲ 164% |
| Contributions10/11 | - | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Reserves13 | - | - | €32,500 | €10,000 | €43,890 | ▲ 339% |
| Distributable reserves133 | - | - | €32,500 | €10,000 | €43,890 | ▲ 339% |
| Profit (loss) carried forward14 | €6,841 | €9,636 | €2,371 | €2,191 | €502 | ▼ 77.1% |
| Amounts payable17/49 | €20,520 | €14,827 | €20,285 | €13,852 | €15,428 | ▲ 11.4% |
| Amounts payable within one year42/48 | €20,520 | €14,283 | €20,285 | €13,852 | €15,428 | ▲ 11.4% |
| Financial debts43 | - | €1,332 | - | - | - | - |
| Credit institutions430/8 | - | €1,332 | - | - | - | - |
| Trade debts44 | €9,965 | €2,054 | €1,905 | €1,223 | €987 | ▼ 19.3% |
| Suppliers440/4 | - | €2,054 | €1,905 | €1,223 | €987 | ▼ 19.3% |
| Taxes, remuneration and social security45 | - | €10,411 | €18,102 | €3,975 | €14,441 | ▲ 263% |
| Taxes450/3 | - | €10,411 | €18,102 | €3,975 | €14,441 | ▲ 263% |
| Other amounts payable47/48 | - | €486 | €278 | €8,654 | - | - |
| Accrued charges and deferred income492/3 | - | €544 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,841 | €2,794 | €25,235 | €3,820 | €32,200 | ▲ 743% |
| + Depreciation and write-downs630 | €37 | €1,348 | €2,115 | €2,115 | €2,265 | ▲ 7.0% |
| Operating cash flow (approximation) | €6,878 | €4,142 | €27,351 | €5,936 | €34,465 | ▲ 481% |
| Investment in fixed assets (approximation) | - | -€8,484 | -€1,500 | €0 | -€2,541 | - |
| Change in cash | - | -€7,775 | €27,291 | -€27,098 | €45,480 | ▲ 268% |
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
2025
18-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Highest result since 2021net €32,200 ▲743%
Operating result €42,640, net result €32,200, both a record.
24-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 24 days late
2023
19-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Weakest financial yearnet €2,794 ▼59.2%
Net result drops to €2,794, the lowest in the series; recovery starts the following year.
29-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Antwerpen · 1 establishment unit since 2020
Ground area
224 m²
Building footprint
87 m²
Volume, LiDAR
1,109 m³
Parcel 11302A0014/00G000, Flanders · tallest building 17.8 m, ±5 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
thus.
since 20202.307.460.843
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11302A0014/00G000 | Flanders | 224 m² | 1 · 87 m² | 17.8 m · 5 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 9,864 companies in sector 73110 we hold annual accounts for 3,758. 2,999 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
Founded04-08-2020
Fiscal year end30-06
Activities, NACEBEL 2025
73110Advertising agencies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0751780583
Also
9925:BE0751780583
Registered
03-12-2024
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.