Toho Estate

Active

Private limited companyfounded 20233 yrs activeStationsstraat 80, 8860 Lendelede, BelgiumKBO/BCE: BE 0805.887.183

Summary

Toho Estate has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€24,573) and a net result of -€7,136. Equity is shrinking by ~55.4% per year across the filed fiscal years. Its solvency ranks better than 5% of 10958 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).

Risk analysisWatch Report Compare

Toho EstateActiveChecked score 53/100

Risk analysis Report Compare

Activity

Development of residential building projects

NACE 68121Real estate development NACE 41101

1 site

Size

€20,533total assets 2025

Equity: -€24,573
Loss: -€7,136

Turnover not published (abridged schema)

Financial health

53 Fair Checked score 2025

Bankruptcy chance 12 m: 1.4%

Structure

Largest shareholder: Derveaux Invest · 33.33%
Board: 1 member

Accounts filed 53 d late1 of 3 deeds read

Why 53Capped at 59: negative equity- Latest accounts 53 days late; 2 of the last 3 late- Negative equity -€24,573+ Sector Real estate activities (NACE 68)+ Size: total assets €20,533Show the evidence

Checked score

Score 2025

53 / 100

Fair

Probability in this band: 1.5% to 4.2%

Better than 9% of its sector peers (NACE 68, micro)

Performance against the sector, not lower risk

Negative equity caps the score at 59. Every signal that weighs is under Signals.

Financial strength · tick = 2024

Weak

Solvency 0=

equity -119.7% of total assets

Liquidity 16+16

short-term debt 219.7% · cash 12.6%

Profitability 0=

return on assets -34.8%

Bankruptcy probability, 12 months

1.4% Low

0%0.5%1.5%4%10%≥ 25%

About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (26,417 companies)

Last 24 months 11-2024: 2.4% 12-2024: 2.4%● 0.0% vs 11-2024 01-2025: 2.5%▲ +4.1% vs 12-2024 02-2025: 2.5%▲ +0.5% vs 01-2025 03-2025: 2.6%▲ +3.1% vs 02-2025 04-2025: 2.6%▲ +2.2% vs 03-2025 05-2025: 2.4%▼ -7.9% vs 04-2025 06-2025: 2.5%▲ +1.0% vs 05-2025 07-2025: 2.5%▲ +1.0% vs 06-2025 08-2025: 3.1%▲ +23.6% vs 07-2025highest value 09-2025: 2.3%▼ -24.0% vs 08-2025 10-2025: 2.3%● 0.0% vs 09-2025 11-2025: 2.3%● 0.0% vs 10-2025 12-2025: 2.3%● 0.0% vs 11-2025 01-2026: 2.3%● 0.0% vs 12-2025 02-2026: 2.3%● 0.0% vs 01-2026 03-2026: 1.4%▼ -41.1% vs 02-2026 04-2026: 1.4%▼ -0.5% vs 03-2026 05-2026: 1.3%▼ -2.7% vs 04-2026 06-2026: 1.3%▼ -0.7% vs 05-2026lowest value 07-2026: 1.4%▲ +3.0% vs 06-2026 08-2026: 1.8%▲ +33.9% vs 07-2026 09-2026: 2.1%▲ +14.4% vs 08-2026 10-2026: 1.4%▼ -35.3% vs 09-2026

Sector Real estate activities (NACE 68) lowers the probability
Latest accounts 53 days late; 2 of the last 3 late raises the probability
Negative equity -€24,573 raises the probability
Size: total assets €20,533 lowers the probability for this profile

No credit on open account

Liquidity short (current ratio 0.38 against 0.26 in 2024; short-term debt: 219.7% and cash: 12.6% of total assets), and equity is negative.

How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 68, micro). Better than this share of them on solvency 5%, liquidity 14%, profitability 4%, growth against the median 14%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

Credit check for your own amount and term

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

Sector Real estate activities (NACE 68)

In the bankruptcy model this factor lowers the probability.

KBO

Latest accounts 53 days late; 2 of the last 3 late

In the bankruptcy model this factor raises the probability.

NBB · filings

Negative equity -€24,573

In the bankruptcy model this factor raises the probability.

NBB · annual accounts

Size: total assets €20,533

In the bankruptcy model this factor lowers the probability for this profile.

NBB · annual accounts

Negative equity

The 2025 annual accounts show negative equity and a net loss.

NBB · annual accounts 2025

Equity per financial year

232425

2023 to 2025 · latest year -€24,573

Filed after the deadline

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-09-2026, 53 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 · 3 filings

Deviation from the deadline

2025

53 d late

2024

30 d late

2023

58 d late

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 3 accounts on average 47 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.

Checked, nothing found (2)

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. Usually files around 22 September (3 of the last 3 filed years within 30 days of that day).

Companies Code · seven months

Position in the running window

04-10-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

22-09-26 Annual accounts filedfiscal year 2025 · abbreviated…
11-09-26 Appointment: HD Group (enige niet statutaire…Permanent representative: DERVEAUX Dylan ·…
30-08-25 Annual accounts filedfiscal year 2024 · abbreviated…

Key points

Risk: Negative equityfiscal year 2025: debts exceed assets -€24,573 View
Risk: 3 loss-making years in a rowloss fiscal year 2025 -€7,136 View
Caution: Among the weakest 5% on solvencysector median 31.3% · 10,958 companies -119.7% View
New directorlatest change 08-09-2026 · 1 in office 1 joined View