Active BE 0650.932.257Private limited company

THN 911

Rue du Château d'Eau 114 ·1420 Braine-l'Alleud, Belgium· 10 yrs active

Sector: Retail sale of cars and light vans (up to 3.5 tonnes) (47811)

Conclusion Checked

THN 911 has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €343k and a net result of €140k. Equity is growing by ~30.7% per year across the filed fiscal years. Its solvency ranks better than 48% of 4023 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).

Based on the State Gazette, CBE and 4 annual accounts.

Key figures

Equity	€343k
Net result	€140k
Staff (FTE)	1
Better than sector	48%

Financial profile 5 of 5 axes measured · computed by Checked

80 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 69

Profitability 100

Solvency 52

Growth 78

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.7% 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

69 / 100 Healthy

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

€24k

estimate, not credit advice

Score history

93 2022

56 2023

66 2024

69 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 0.91 (< 1.0) -10

Leverage Debt/equity 1.89 (< 2.0) +3

Profitability ROE 41% (≥ 10%) +10

Interest coverage Interest coverage 11.1× (≥ 3×) +8

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 29-04-2026 with the NBB · fiscal year 2025 · full 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 ~30.7%/year over 4 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 (full schema)

Metric	This company	Sector median	Position in the sector
Solvency	34.6%	36.1%	better than 48% of 4023 sector peers
Net result	€140k	€42k	better than 71% of 4022 sector peers
Equity	€343k	€441k	better than 44% of 4024 sector peers
Gross operating margin	€312k	€324k	better than 49% of 3198 sector peers
Staff costs	€48k	€340k	higher than 10% of 3522 sector peers

EBITDA

€253k

+24.7% 22-25

Net profit

€140k

+31.7% 22-25

Cash flow

€182k

+27.6% 22-25

Total assets

€990k

+4.2% 22-25

Equity

€343k

+30.7% 22-25

Working capital

€-26k

+64.6% 22-25

Employees (FTE)

1

0.0% 22-25

Staff costs

€48k

+24.4% 22-25

Income taxes

€48k

+32.8% 22-25

Dividends

€60k

0.0% 22-25

Debt

€647k

-5.9% 22-25

Debt ≤ 1y

€295k

+2.6% 22-25

Debt > 1y

€353k

-11.7% 22-25

Current ratio

0.91

+22.8% 22-25

Quick ratio

0.91

+22.8% 22-25

Solvency

34.6%

+25.4% 22-25

Debt / equity

1.89

-28.0% 22-25

ROE

41.0%

+0.8% 22-25

ROA

14.2%

+26.4% 22-25

Interest coverage

11.13

+31.4% 22-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022
Deposit	full schema	full schema	micro schema	micro schema
Revenue	-	-	-	-
EBITDA	€253k	€203k	€159k	€105k
Net profit	€140k	€107k	€90k	€64k
Cash flow	€182k	€143k	€118k	€83k
Staff costs	€48k	€39k	-	-
Income taxes	€48k	€36k	€29k	€20k
Dividends	€60k	€60k	€40k	€30k
Total assets	€990k	€950k	€905k	€250k
Equity	€343k	€262k	€216k	€154k
Debt	€647k	€688k	€689k	€96k
of which ≤ 1y	€295k	€287k	€269k	€96k
of which > 1y	€353k	€399k	€420k	-
Working capital	€-26k	€-74k	€-68k	€93k
Employees (FTE)	1.0	1.0	-	-

Note: these years are not on the same basis. The filed schemas differ (full schema, micro schema), so the columns are not directly comparable.

Ratios (computed)

	2025	2024	2023	2022
Current ratio	0.91	0.74	0.75	1.96
Quick ratio	0.91	0.74	0.75	1.96
Working capital ratio	-2.6%	-7.8%	-7.5%	37.2%
Solvency	34.6%	27.6%	23.8%	61.4%
Debt / equity	1.89	2.62	3.19	0.63
Long-term debt ratio	1.03	1.52	1.95	-
Interest coverage	11.13	8.47	13.43	62.71
Gross margin	-	-	-	-
Net margin	-	-	-	-
ROA	14.2%	11.2%	9.9%	25.8%
ROE	41.0%	40.6%	41.6%	42.0%
EBITDA margin	-	-	-	-
Days sales outstanding	-	-	-	-
Days payable outstanding	-	-	-	-
Inventory turnover	-	-	-	-
Days inventory (DSI)	-	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €722k · 72.9% Current assets €268k · 27.1%

Equity & liabilities

Equity €343k · 34.6% Debt €647k · 65.4%

Full annual accounts (24 line items)

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

Line item	Code	2025	2024	2023	2022
Balance sheet, Assets
TOTAL ASSETS	20/58	€990k	€950k	€905k	€250k
Fixed assets	21/28	€722k	€737k	€704k	€61k
Intangible fixed assets	21	€337	€678	€1k	€1k
Tangible fixed assets	22/27	€721k	€737k	€703k	€59k
Current assets	29/58	€268k	€213k	€201k	€190k
Amounts receivable within one year	40/41	€54k	€28k	€13k	€44k
Cash & bank	54/58	€214k	€181k	€187k	€143k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€990k	€950k	€905k	€250k
Equity	10/15	€343k	€262k	€216k	€154k
Contributions / capital	10/11	€19k	€19k	€19k	€6k
Reserves	13	€2k	€2k	€2k	€2k
Accumulated profits (losses)	14	€322k	€242k	€195k	€145k
Amounts payable	17/49	€647k	€688k	€689k	€96k
Amounts payable after one year	17	€353k	€399k	€420k	-
Amounts payable within one year	42/48	€295k	€287k	€269k	€96k
Trade debts payable within one year	44	€41k	€15k	€28k	€15k
Income statement
Gross operating margin	9900	€312k	€263k	€162k	€111k
Operating result	9901	€211k	€166k	€130k	€86k
Financial income	75	€15	€15	€1	€23
Financial charges	65	€23k	€24k	€12k	€2k
Result before taxes	9903	€188k	€143k	€119k	€85k
Income taxes	67/77	€48k	€36k	€29k	€20k
Net result for the period	9904	€140k	€107k	€90k	€64k
Result to be appropriated	9905	€140k	€107k	€90k	€64k

Directors & mandates 1 directors

Former directors (1)

Nicolas THEYUS
Director (executive)
State Gazette act 23451389 (08-12-2023)

Former
- → 08-12-2023

Legal Structure

NACE primary	Retail sale of cars and light vans (up to 3.5 tonnes)(47811)
Legal form	Private limited company(610)
Incorporation	31-03-2016
Status	Active
Postal code	1420

Establishment units 1 location

THN 911

Rue du Château d'Eau 114, 1420 Braine-l'AlleudNACE 4511301

since 20162.252.088.887

Real-estate footprint Source: CBE × cadastre

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
25014A0554/00N000	Wallonia	302 m²	1 · 17 m²	2.5 m

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 12Financial 2Gazette 1Filings 9

Next filing, fiscal year 2026, expected by 30-04-2027

2026

29-04

NBB filing Annual accounts filed

fiscal year 2025 · full schema

2025

30-09

Financial Highest result since 2022net €140k ▲31.7%

Operating result €211k, net result €140k, both a record.

23-04

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

29-04

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

08-12

State Gazette act Director changes

Thi Thuy Mai HONG

30-09

Financial Equity above €200kEq €216k ▲40.5%

2 profitable years in a row build equity to €216k.

26-05

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 26 days late

2022

24-05

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 24 days late

2021

30-04

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

01-04

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

29-04

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

30-04

NBB filing Annual accounts filed

fiscal year 2017 · full 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 3 acts read

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.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 2 years ago

2023

08-12-2023 1 resigning, 1 reappointed Director changes·Thi Thuy Mai HONG

Nicolas THEYUS, Directeur
Nicolas THEYUS, Directeur

Notary: Thi Thuy Mai HONG · TubizeFirm: Pierre STERCKMANS & Thi Thuy Mai HONG, Notaires associés

Original publication ↗

Technical details

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  "notary": {
    "name": "Thi Thuy Mai HONG",
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    "is_associated": true
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  "act_meta": {
    "language": "mixed",
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  "decisions": [
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  "is_correction": false,
  "subject_company": {
    "kbo": "0650.932.257",
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    "legal_form": "SRL"
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Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Retail sale of cars and light vans (up to 3.5 tonnes)47811General maintenance and repair of cars and light vans (up to 3.5 tonnes)95311Repair and fitting of specific motor vehicle parts9531345204Tyre services95315Other maintenance and repair of motor vehicles95319Bodywork repair (including spraying and painting)95314

Names & trade names

Legal nameFR

THN 911

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