Thoé
ActiveSummary
Thoé has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €111k and a net result of €399k. Equity remains stable across the filed fiscal years (±0.2% per year). Its solvency ranks better than 23% of 6537 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
64
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability100▲+12
Solvency36▼-6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days acceptable
Liquidity tight (current ratio 1.02 against 1.08 in 2023; short-term debt: 83.6% and cash: 21.1% of total assets), and 88.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five 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 47
Relative position
BE, all sectors
reference
Sector 47
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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 6537 sector peers (2024).
NBB · sector comparisonPosition among 6537 sector peers
Solvency
better than 23%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 22-07-2025, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
9 d early
2023
27 d early
2022
on the day
2021
37 d early
2020
5 d late
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€399k▲ 296%
2023 · €101k
2018: €-16k
2019: €213k
2020: €82k
2021: €199k
2022: €140k
2023: €101k
2018 → 2024
Working capital
€17k▼ 52.3%
2023 · €35k
2018: €10k
2019: €41k
2020: €24k
2021: €30k
2022: €40k
2023: €35k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€111k-€111k▼ 0.3%€111k=€112k▲ 0.8%€111k▼ 0.8%
Operating result€18k-€111k▲ 499%€59k▼ 47.0%€40k▼ 31.4%€319k▲ 691%
Net result€82k-€199k▲ 141%€140k▼ 29.5%€101k▼ 27.9%€399k▲ 296%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 691% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €976k
Fixed assets
€144k ▲ 4.0%
Current assets
€832k ▲ 66.3%
Equity and liabilities €976k
Equity
€111k ▼ 0.8%
Debt
€865k ▲ 64.1%
Debt's share of the balance-sheet total rises from 82.5% to 88.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€354k▲
2023 · €70k
Cash flow
€435k▲
2023 · €130k
Current ratio
1.02▼
2023 · 1.08
Quick ratio
0.81▲
2023 · 0.68
Debt to equity
7.82▲
2023 · 4.73
ROE
360.5%▲
2023 · 90.4%
ROA
40.9%▲
2023 · 15.8%
Interest coverage
43.39▲
2023 · 8.62
Debt ≤ 1 year
€816k▲
2023 · €466k
Debt > 1 year
€39k▼
2023 · €62k
Income taxes
€3k▼
2023 · €4k
Staff costs
€342k▲
2023 · €283k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 59 lines
Balance sheet
Code20232024
Assets
Total assets20/58€639k€976k▲
Fixed assets21/28€138k€144k▲
Tangible fixed assets22/27€112k€117k▲
Plant, machinery and equipment23€68k€82k▲
Furniture and vehicles24€41k€34k▼
Other tangible fixed assets26€2k€1k▼
Financial fixed assets28€26k€27k▲
Current assets29/58€501k€832k▲
Amounts receivable after more than one year29-€230k
Other amounts receivable291-€230k
Stocks and contracts in progress3€184k€174k▼
Stocks30/36€184k€174k▼
Amounts receivable within one year40/41€186k€212k▲
Trade receivables40€169k€197k▲
Other amounts receivable41€17k€15k▼
Cash at bank and in hand54/58€121k€206k▲
Deferred charges and accrued income490/1€10k€11k▲
Equity and liabilities
Total equity and liabilities10/49€639k€976k▲
Equity10/15€112k€111k▼
Contributions10/11€100k€100k=
Reserves13€10k€10k=
Non-distributable reserves130/1€10k€10k=
Reserves not available under the articles1311€10k€10k=
Tax-exempt reserves132€237€237=
Profit (loss) carried forward14€1k€501▼
Amounts payable17/49€527k€865k▲
Amounts payable after more than one year17€62k€39k▼
Financial debts170/4€62k€39k▼
Amounts payable within one year42/48€466k€816k▲
Current portion of amounts payable after more than one year42€22k€23k▲
Financial debts43-€64
Credit institutions430/8-€64
Trade debts44€63k€46k▼
Suppliers440/4€63k€46k▼
Advances received on contracts in progress46€245k€294k▲
Taxes, remuneration and social security45€34k€53k▲
Taxes450/3€3k€8k▲
Remuneration and social security454/9€31k€45k▲
Other amounts payable47/48€102k€400k▲
Accrued charges and deferred income492/3-€11k
Income statement
Code20232024
Remuneration, social security and pensions62€283k€342k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€29k€36k▲
Other operating charges640/8€9k€4k▼
Gross operating margin9900€362k€701k▲
Operating profit (loss)9901€40k€319k▲
Financial income75/76B€72k€92k▲
Recurring financial income75€72k€86k▲
Non-recurring financial income76B-€6k
Financial charges65/66B€8k€8k▲
Recurring financial charges65€8k€8k▲
Profit (loss) for the period before taxes9903€104k€403k▲
Income taxes67/77€4k€3k▼
Profit (loss) for the period9904€101k€399k▲
Profit (loss) for the period to be appropriated9905€101k€399k▲
Appropriation of the result
Profit (loss) to be appropriated9906€101k€401k▲
Profit (loss) brought forward from the previous period14P€421€1k▲
Profit to be distributed694/7€100k€400k▲
Directors or managers695€100k€400k▲
Social balance
Average headcount (FTE)90874.04.0=
The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €399k ▲296%
Operating result €319k, net result €399k, both a record.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
05-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 5 days late
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €213k
Net result €213k after one loss-making year.
31-12
Financial
Equity above €100kEq €111k ▲14.5%
Equity rises from €97k to €111k.
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
04-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
23-12
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2015
11-12
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
12 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, Waterloo · 1 establishment unit since 2010
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.
Chaussée de Louvain 471410 WaterlooGround area
2,213 m²
Building footprint
800 m²
Volume, LiDAR
8,127 m³
Parcel 25764O0462/00A000, Wallonia · tallest building 12.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
IXINA WATERLOO
since 20102.216.836.713
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25764O0462/00A000 | Wallonia | 2,213 m² | 1 · 800 m² | 12.1 m · 3 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.
Similar companies · same sector, comparable size
EICHER
BE 0420.797.381
Malmedy · Eq €110,760
MONSANTIC
BE 0436.160.104
Mons · Eq €110,813
NDC
BE 0663.589.569
Meerhout · Eq €110,871
I.B.B.T.
BE 0800.525.261
Seraing · Eq €110,875
BARESQUE EUROPE
BE 0722.856.965
Watermaal-Bosvoorde · Eq €110,519
Of 2,610 companies in sector 47551 we hold annual accounts for 1,718. 1,336 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded30-03-2010
Fiscal year end31-12
Activities, NACEBEL 2025
47551Retail sale of household furniture
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.