Active BE 0651.798.824Private limited company

TheDrinks

de Limburg Stirumlaan 13 ·3040 Huldenberg, Belgium· 10 yrs active

Sector: Other non-specialised retail sale (47120)

Conclusion Checked

TheDrinks has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €320k and a net result of €199k. Equity is growing by ~61.3% per year across the filed fiscal years. Its solvency ranks better than 50% of 9900 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).

Based on the State Gazette, CBE and 5 annual accounts.

Key figures

Equity	€320k
Net result	€199k
Staff (FTE)	3.9
Better than sector	50%

Financial profile 5 of 5 axes measured · computed by Checked

75 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 46

Profitability 100

Solvency 51

Growth 78

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.8% Low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Established

Founded in 2016, 10 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

46 / 100 Fair

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€15k

estimate, not credit advice

Score history

35 2021

46 2022

51 2023

51 2024

46 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 0.66 (< 1.0) -10

Quick ratio Quick ratio 0.38 (< 0.6) -5

Leverage Debt/equity 1.64 (< 2.0) +3

Profitability ROE 62% (≥ 10%) +10

Interest coverage Interest coverage -1.4× (< 1.5×) -10

Profit trend Net profit up YoY +5

Equity growth Equity growing YoY +3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview9 NBB filings

Annual accounts filed on 30-10-2025 with the NBB · fiscal year 2025 · abbreviated schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~61.3%/year over 5 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 47, Retail trade · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	37.9%	37.6%	better than 50% of 9900 sector peers
Net result	€199k	€31k	better than 88% of 9895 sector peers
Equity	€320k	€261k	better than 56% of 9909 sector peers
Gross operating margin	€186k	€227k	better than 44% of 9875 sector peers
Staff costs	€199k	€159k	higher than 58% of 7511 sector peers

EBITDA

€-16k

- 21-25

Net profit

€199k

+442.5% 21-25

Cash flow

€205k

+386.5% 21-25

Total assets

€846k

-5.5% 21-25

Equity

€320k

+164.1% 21-25

Working capital

€-122k

+56.4% 21-25

Employees (FTE)

4

+11.4% 21-25

Staff costs

€199k

+8.4% 21-25

Income taxes

€0

-100.0% 21-25

Debt

€525k

-32.1% 21-25

Debt ≤ 1y

€358k

-36.8% 21-25

Debt > 1y

€167k

-19.2% 21-25

Current ratio

0.66

+30.3% 21-25

Quick ratio

0.38

+32.5% 21-25

Solvency

37.9%

+179.5% 21-25

Debt / equity

1.64

-74.3% 21-25

ROE

62.1%

+105.4% 21-25

ROA

23.5%

+474.1% 21-25

Interest coverage

-1.40

- 21-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022	2021
Deposit	abbreviated schema	abbreviated schema	abbreviated schema	abbreviated schema	abbreviated schema
Revenue	-	-	-	-	-
EBITDA	€-16k	€71k	€69k	€46k	€73k
Net profit	€199k	€37k	€34k	€17k	€16k
Cash flow	€205k	€42k	€41k	€26k	€24k
Staff costs	€199k	€183k	€154k	€119k	-
Income taxes	€0	€16k	€14k	€6k	€7k
Dividends	-	-	-	-	-
Total assets	€846k	€895k	€873k	€854k	€854k
Equity	€320k	€121k	€85k	€51k	€34k
Debt	€525k	€774k	€789k	€803k	€820k
of which ≤ 1y	€358k	€567k	€511k	€510k	€413k
of which > 1y	€167k	€207k	€277k	€292k	€402k
Working capital	€-122k	€-280k	€-252k	€-275k	€-176k
Employees (FTE)	3.9	3.5	3.3	3.1	3.0

Ratios (computed)

	2025	2024	2023	2022	2021
Current ratio	0.66	0.51	0.51	0.46	0.57
Quick ratio	0.38	0.29	0.33	0.25	0.27
Working capital ratio	-14.5%	-31.3%	-28.9%	-32.2%	-20.6%
Solvency	37.9%	13.6%	9.7%	6.0%	4.0%
Debt / equity	1.64	6.38	9.32	15.72	11.73
Long-term debt ratio	0.52	1.71	3.28	5.71	11.73
Interest coverage	-1.40	5.44	4.91	2.95	-
Gross margin	-	-	-	-	-
Net margin	-	-	-	-	-
ROA	23.5%	4.1%	3.8%	2.0%	1.8%
ROE	62.1%	30.3%	39.6%	32.9%	45.7%
EBITDA margin	-	-	-	-	-
Days sales outstanding	-	-	-	-	-
Days payable outstanding	-	-	-	-	-
Inventory turnover	-	-	-	-	-
Days inventory (DSI)	-	-	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €610k · 72.1% Current assets €236k · 27.9%

Equity & liabilities

Equity €320k · 37.9% Debt €525k · 62.1%

Full annual accounts (25 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€846k	€895k	€873k	€854k	€854k
Fixed assets	21/28	€610k	€608k	€614k	€619k	€618k
Intangible fixed assets	21	€11k	€8k	€10k	€13k	€16k
Tangible fixed assets	22/27	€6k	€7k	€10k	€12k	€11k
Financial fixed assets	28	€593k	€593k	€594k	€594k	€590k
Current assets	29/58	€236k	€287k	€259k	€236k	€237k
Stocks & contracts in progress	3	€98k	€122k	€92k	€111k	€126k
Amounts receivable within one year	40/41	€122k	€120k	€138k	€104k	€77k
Cash & bank	54/58	€8k	€22k	€26k	€16k	€32k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€846k	€895k	€873k	€854k	€854k
Equity	10/15	€320k	€121k	€85k	€51k	€34k
Contributions / capital	10/11	€19k	€19k	€19k	€19k	-
Accumulated profits (losses)	14	€302k	€103k	€66k	€32k	€16k
Amounts payable	17/49	€525k	€774k	€789k	€803k	€820k
Amounts payable after one year	17	€167k	€207k	€277k	€292k	€402k
Amounts payable within one year	42/48	€358k	€567k	€511k	€510k	€413k
Trade debts payable within one year	44	€189k	€138k	€85k	€127k	€85k
Income statement
Gross operating margin	9900	€186k	€257k	€224k	€168k	€176k
Operating result	9901	€-21k	€66k	€61k	€37k	€64k
Financial income	75	€232k	€3	€108	€2k	€422
Financial charges	65	€11k	€13k	€14k	€16k	€21k
Result before taxes	9903	€199k	€53k	€48k	€23k	€44k
Income taxes	67/77	€0	€16k	€14k	€6k	€7k
Net result for the period	9904	€199k	€37k	€34k	€17k	€37k
Result to be appropriated	9905	€199k	€37k	€34k	€17k	€37k

Directors & mandates 2 directors

Current directors & mandates

Terlaeken Kevin
Director
State Gazette act 24429382 (18-09-2024)

Current
18-09-2024 → present

Former directors (1)

Vandervoort Kevin
Director
State Gazette act 24429382 (18-09-2024)

Former
- → 18-09-2024

Legal Structure

NACE primary	Other non-specialised retail sale(47120)
Legal form	Private limited company(610)
Incorporation	11-04-2016
Status	Active
Postal code	3040

Establishment units 1 location

TheDrinks

de Limburg Stirumlaan 13, 3040 HuldenbergWholesale of wines and spirits

since 20162.266.053.226

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
24045B0123/00S000	Flanders	2,253 m²	1 · 602 m²	7.9 m · 2 fl.

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.

Updates 10 events

All 13Financial 3Gazette 1Filings 9

Next filing, fiscal year 2026, expected by 31-10-2026

2025

30-10

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

31-03

Financial Highest result since 2021net €199k ▲442%

Net result €199k, the highest in the series.

31-03

Financial Equity above €200kEq €320k ▲164%

5 profitable years in a row build equity to €320k.

2024

28-10

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

18-09

State Gazette act Director changes

Karen Hauwaerts

31-03

Financial Equity above €100kEq €121k ▲43.4%

4 profitable years in a row build equity to €121k.

2023

22-12

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 52 days late

2022

03-11

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema · 3 days late

2021

29-10

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2020

13-11

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema · 13 days late

2019

31-10

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2018

31-10

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2017

29-09

NBB filing Annual accounts filed

fiscal year 2017 · micro schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 4 acts read

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.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 1 year ago

2024

18-09-2024 2 directors appointed, 1 resigning Director changes·Karen Hauwaerts

Terlaeken Kevin, Bestuurder
Terlaeken Kevin, Bestuurder
Vandervoort Kevin, Bestuurder

Notary: Karen Hauwaerts · Huldenberg

Original publication ↗

Technical details

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Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Other non-specialised retail sale47120Retail sale of beverages, general range47252Retail trade47910Wholesale of wines and spirits46341Wholesale of beverages, general range46349Retail sale of wines and spirits47251

Names & trade names

Legal nameNL

TheDrinks

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