THALASSA
ActiveTHALASSA has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.34M and a net result of €412k. Equity is growing by ~17.5% per year across the filed fiscal years. Its solvency ranks better than 44% of 252 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
66
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability80▼-2
Solvency53▲+2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €85k at 30 days acceptable
Liquidity ample (current ratio 2.41 against 2.24 in 2024; short-term debt: 36% and cash: 11.1% of total assets), but 71.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 79
Relative position
BE, all sectors
reference
Sector 79
higher
← 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
28.1%
Return on assets
8.7%
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 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
56 d early
2023
29 d early
2022
27 d early
2021
17 d early
2020
19 d early
2019
8 d early
← before the deadline
after the deadline →
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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.34M▲ 26.0%
2024 · €1.06M
2018: €417k
2019: €435k
2020: €419k
2021: €428k
2022: €444k
2023: €635k
2024: €1.06M
2018 → 2025
Total assets
€4.76M▲ 14.3%
2024 · €4.16M
2018: €1.96M
2019: €2.24M
2020: €1.53M
2021: €1.61M
2022: €2.41M
2023: €3.07M
2024: €4.16M
2018 → 2025
Net result
€412k▼ 3.5%
2024 · €427k
2018: €82k
2019: €55k
2020: €-15k
2021: €8k
2022: €127k
2023: €274k
2024: €427k
2018 → 2025
Working capital
€2.41M▲ 11.4%
2024 · €2.17M
2018: €998k
2019: €897k
2020: €669k
2021: €784k
2022: €1.23M
2023: €1.76M
2024: €2.17M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€428k-€444k▲ 3.7%€635k▲ 43.2%€1.06M▲ 67.2%€1.34M▲ 26.0%
Operating result€10k-€175k▲ 1,586%€379k▲ 117%€602k▲ 58.8%€580k▼ 3.7%
Net result€8k-€127k▲ 1,403%€274k▲ 117%€427k▲ 55.5%€412k▼ 3.5%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 4% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.76M
Fixed assets
€632k▲ 161%
Current assets
€4.13M▲ 5.2%
Equity and liabilities €4.76M
Equity
€1.34M▲ 26.0%
Debt
€3.42M▲ 10.3%
The debt ratio falls from 74.5% to 71.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€652k▲
2024 · €615k
Cash flow
€483k▲
2024 · €440k
Solvency
28.1%▲
2024 · 25.5%
Current ratio
2.41▲
2024 · 2.24
Quick ratio
2.41▲
2024 · 2.24
Debt / equity
2.55▼
2024 · 2.92
ROE
30.8%▼
2024 · 40.2%
ROA
8.7%▼
2024 · 10.2%
Interest coverage
86.80▲
2024 · 84.02
Debt
€3.42M▲
2024 · €3.10M
Debt ≤ 1 year
€1.71M▼
2024 · €1.75M
Income taxes
€216k▲
2024 · €204k
Staff costs
€295k▲
2024 · €260k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€4.16M€4.76M▲
Fixed assets21/28€242k€632k▲
Intangible fixed assets21€711€197▼
Tangible fixed assets22/27€234k€624k▲
Land and buildings22€202k€574k▲
Plant, machinery and equipment23€972€18k▲
Furniture and vehicles24€31k€33k▲
Financial fixed assets28€7k€7k=
Current assets29/58€3.92M€4.13M▲
Amounts receivable within one year40/41€45k€217k▲
Trade receivables40€32k€185k▲
Other amounts receivable41€13k€31k▲
Current investments50/53€1.35M€1.76M▲
Cash at bank and in hand54/58€1.09M€530k▼
Deferred charges and accrued income490/1€1.44M€1.62M▲
Equity and liabilities
Total equity and liabilities10/49€4.16M€4.76M▲
Equity10/15€1.06M€1.34M▲
Contributions10/11€26k€16k▼
Revaluation surpluses12€150k€150k=
Reserves13€846k€1.13M▲
Tax-exempt reserves132€121k€39k▼
Distributable reserves133€725k€1.09M▲
Profit (loss) carried forward14€40k€40k=
Amounts payable17/49€3.10M€3.42M▲
Amounts payable within one year42/48€1.75M€1.71M▼
Trade debts44€173k€263k▲
Suppliers440/4€173k€263k▲
Advances received on contracts in progress46€1.49M€1.23M▼
Taxes, remuneration and social security45€91k€83k▼
Taxes450/3€61k€50k▼
Remuneration and social security454/9€30k€34k▲
Other amounts payable47/48-€135k
Accrued charges and deferred income492/3€1.35M€1.71M▲
Income statement
Code20242025
Remuneration, social security and pensions62€260k€295k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€13k€72k▲
Other operating charges640/8€8k€8k▲
Gross operating margin9900€883k€955k▲
Operating profit (loss)9901€602k€580k▼
Financial income75/76B€36k€55k▲
Recurring financial income75€36k€55k▲
Financial charges65/66B€7k€8k▲
Recurring financial charges65€7k€8k▲
Profit (loss) for the period before taxes9903€631k€628k▼
Income taxes67/77€204k€216k▲
Profit (loss) for the period9904€427k€412k▼
Transfer from tax-exempt reserves789-€82k
Profit (loss) for the period to be appropriated9905€427k€493k▲
Appropriation of the result
Profit (loss) to be appropriated9906€467k€534k▲
Profit (loss) brought forward from the previous period14P€40k€40k=
Transfer from equity791/2-€135k
Transfer to equity691/2€427k€493k▲
To other reserves6921€427k€493k▲
Profit to be distributed694/7-€135k
Return on contributions (dividend)694-€135k
Social balance
Average headcount (FTE)90875.25.3▲
The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
05-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €427k ▲55.5%
Operating result €602k, net result €427k, both a record.
31-12
Financial
Equity above €1MEq €1.06M ▲67.2%
4 profitable years in a row build equity to €1.06M.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €500kEq €635k ▲43.2%
3 profitable years in a row build equity to €635k.
04-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €8k
Net result €8k after one loss-making year.
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €-15k ▼128%
Net result drops to €-15k, the lowest in the series; recovery starts the following year.
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
09-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Oostende · 1 establishment unit since 1985
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Vindictivelaan 68400 OostendeGround area
234 m²
Building footprint
194 m²
Volume, LiDAR
3,605 m³
Parcel 35013A1281/00E000, Flanders · tallest building 31.6 m, ±8 floors. Linked by address, not a title deed.
1 establishment unit
THALASSA REIZEN
since 19852.221.443.124
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35013A1281/00E000 | Flanders | 234 m² | 1 · 194 m² | 31.6 m · 8 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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
2025 · 1 entry · 999 EUR awarded · 999 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 999 EUR | 999 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 1,438 companies in sector 79110 we hold annual accounts for 880. 453 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded25-09-1985
Fiscal year end31-12
Activities, NACEBEL
79110Travel agency activities
Sources
Crossroads Bank for EnterprisesNational Bank · 40 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.