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TOISON D'OR

Active
Public limited companyfounded 200818 yrs activeSteenweg op Leuven 1188, 1200 Sint-Lambrechts-Woluwe, BelgiumKBO/BCE: BE 0895.004.944
Summary

TOISON D'OR has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €5.3m and a net result of -€365,306. Equity is shrinking by ~11% per year across the filed fiscal years. Its solvency ranks better than 37% of 4837 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).

Risk analysisWatch ReportCompare
TOISON D'ORActiveChecked score 67/100
Risk analysis ReportCompare

Overview

Activity
Renting and operating of own or leased residential real estate, excluding social housing
NACE 68201
1 site
Size
€30.1mtotal assets 2024
Equity
€5.3m
Loss
-€365,306
Financial health
67 Healthy Checked score 2024
Bankruptcy chance 12 m
0.9%
Structure
Parent
PHENIX · 100%
Accounts 64 d overdue1 of 25 deeds read
Why 67- Figures for FY 2024 (filed 18-10-2025)- Liquidity: current ratio 1.28, cash €202,761, halved- 1 financial year not filed after the legal deadline; latest accounts 77 days late; 1 of the last 3 late+ Size: total assets €30.1mShow the evidence

Checked score

Score 2024
67 / 100
Healthy
Probability in this band: 0.55% to 1.5%
Better than 38% of its sector peers (NACE 68, medium-sized)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2023
Weak
Solvency 43+1
equity 17.6% of total assets
Liquidity 51-10
short-term debt 10.3% · cash 0.7%
Profitability 34-21
return on assets -1.2%
Bankruptcy probability, 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%

About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (1,712 companies)
Last 24 months 11-2024: 0.1% 12-2024: 0.1%● 0.0% vs 11-2024 01-2025: 0.1%● 0.0% vs 12-2024 02-2025: 0.1%▼ -1.7% vs 01-2025lowest value 03-2025: 0.1%● 0.0% vs 02-2025lowest value 04-2025: 0.1%▲ +3.4% vs 03-2025 05-2025: 0.1%▲ +0.8% vs 04-2025 06-2025: 0.1%▲ +8.3% vs 05-2025 07-2025: 0.2%▲ +26.0% vs 06-2025 08-2025: 0.3%▲ +54.5% vs 07-2025 09-2025: 0.3%▲ +24.7% vs 08-2025 10-2025: 0.6%▲ +75.8% vs 09-2025 11-2025: 0.5%▼ -8.2% vs 10-2025 12-2025: 0.5%● 0.0% vs 11-2025 01-2026: 0.5%▼ -0.6% vs 12-2025 02-2026: 0.5%▲ +1.8% vs 01-2026 03-2026: 0.2%▼ -58.2% vs 02-2026 04-2026: 0.2%▲ +1.4% vs 03-2026 05-2026: 0.2%▲ +6.8% vs 04-2026 06-2026: 0.3%▲ +11.1% vs 05-2026 07-2026: 0.3%▲ +5.0% vs 06-2026 08-2026: 0.5%▲ +88.0% vs 07-2026 09-2026: 0.6%▲ +21.0% vs 08-2026 10-2026: 0.9%▲ +41.3% vs 09-2026highest value
  • Figures for FY 2024 (filed 18-10-2025) raises the probability
  • Liquidity: current ratio 1.28, cash €202,761, halved raises the probability
  • Size: total assets €30.1m lowers the probability for this profile
  • 1 financial year not filed after the legal deadline; latest accounts 77 days late; 1 of the last 3 late raises the probability
Credit up to €350,000 at 30 days acceptable
Liquidity tight (current ratio 1.28 against 69.9 in 2023; short-term debt: 10.3% and cash: 0.7% of total assets), and 82.4% of the assets are financed with debt.
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, medium-sized). Better than this share of them on solvency 38%, liquidity 61%, profitability 31%, growth against the median 23%. 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.

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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Figures for FY 2024 (filed 18-10-2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Liquidity: current ratio 1.28, cash €202,761, halved
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
lowers risk · Size: total assets €30.1m
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
raises risk · 1 financial year not filed after the legal deadline; latest accounts 77 days late; 1 of the last 3 late
In the bankruptcy model this factor raises the probability.
NBB · filings
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024
Net result per financial year
19202021222324
2019 to 2024 · latest year -€365,306
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 16-10-2025, 77 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 · 10 filings
Deviation from the deadline
2025
not confirmed
2024
77 d late
2023
on the day
2022
48 d early
2021
3 d late
2020
53 d early
2020
79 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 17 days before 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 (1)
neutral · 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
  1. Permanent representatives: Paul Dreezen and Jeroen…State Gazette act
  2. Annual accounts filedfiscal year 2024 · full…
  3. Annual accounts filedfiscal year 2023 · full…

Key points

  • Risk: 7 loss-making years in a rowloss fiscal year 2024 -€365,306 View
  • Caution: Among the weakest 9% on net resultsector median €10,913 · 4,850 companies -€365,306 View
  • Caution: Accounts not fileddeadline was 31-07-2026 64 d late View
  • Positive: Result rose in 2024from -€711,208 to -€365,306 ▲ 48.6% View
  • Controlled by PHENIXknown shareholders 100% 100% View

By topic

Financials

Fiscal year
2024
Total assets
€30.1m
Loss
-€365,306
Solvency
17.6%
Turnover▲ 6.0%
Net result
20192023
Go to Financials

Timeline

Events
13
Since
2017
  1. 17-06-2026Permanent representatives: Paul Dreezen and Jeroen Trumpener
  2. 16-10-2025Annual accounts filed
  3. 31-07-2024Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Renting and operating of own or leased residential…NACE 68201
Founded
17-01-2008
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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