Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 57 % of short-term debt in 2024; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 36.7 to 19.5.
Financials
Financial year 2024
THAICO from Elsene, company number BE0468799020, closed financial year 2024 with a result of € 10,843 after tax. For that financial year THAICO recorded revenue of € 2.3 million and equity of € 271,894. Compared with financial year 2023, the result moved from € -98,783 to € 10,843. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on October 31, 2025.
€ 271,894
▲ 4% vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 10,843
▲ still € 98,783 loss in 2023
Profit after tax over the fiscal year.
€ 78,943
▼ 8% vs 2023
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2024. Retained profit grew to € 252,894.
People and assets in 2024
19.5
▼ 8.4 vs 2023
Average over the fiscal year, from the social balance sheet.
€ 743,373
▼ 28% vs 2023
€ 38,100 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 51,706
▼ 31% vs 2023
Book value of vehicles, furniture and equipment.
Debts at end 2024
€ 202,820
▼ 27% vs 2023
€ 94,766 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 37,205
▲ 31% vs 2023
Supplier invoices still open on the last day of the fiscal year.
€ 180,337
▼ 14% vs 2023
Taxes, VAT and social contributions still to pay.
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| 2021 | 2022 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|---|
| Revenue | € 2,995,639 | € 3,700,352 | € 3,003,327 | € 2,285,831 | ▼ 24% |
| Gross margin | € 1,063,831 | € 1,286,478 | € 1,091,281 | € 910,595 | ▼ 17% |
| Profit after taxes | € 20,660 | € 28,551 | € -98,783 | € 10,843 | ▲ € 109,626 |
| Equity | € 331,283 | € 359,834 | € 261,051 | € 271,894 | ▲ 4% |
| Total debts | € 791,578 | € 774,340 | € 709,809 | € 606,330 | ▼ 15% |
| Cash | € 85,407 | € 76,023 | € 85,903 | € 78,943 | ▼ 8% |
| Retained profit | € 312,283 | € 340,834 | € 242,051 | € 252,894 | ▲ 4% |
| Bank debt | € 231,139 | € 183,070 | € 276,355 | € 202,820 | ▼ 27% |
| Balance sheet total | € 1,122,862 | € 1,134,174 | € 970,860 | € 878,224 | ▼ 10% |
| Employees (FTE) | - | 36.7 | 27.9 | 19.5 | ▼ 8.4 |
Key figures of THAICO, fiscal years 2021 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 31 July 2026.
What happened to THAICO?
What happened at THAICO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2024: profit of € 10,843. filed late Source: NBB ↗
- New establishment in Brussel. KBO
- New establishment in Elsene. KBO
- New establishment in Ukkel. KBO
- New establishment in Ukkel. KBO
- PATRICIA HERZMAN became a director. NBB
- New establishment in Elsene. KBO
- Start of the company according to the CBE. KBO
In short
From € 20,660 profit in 2021 to € 10,843 profit in 2024.
Paid € 25,784 in corporate taxes since 2021.
Best year ever: 2022, with € 28,551 profit.
On average € 46,700 of value added per employee in 2024.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Directors
According to the 2024 annual accounts
PATRICIA HERZMAN
Manager
since 2014
Establishments
Establishment units
Physical locations of this company
Sint-Bonifaasstraat 7
1050 Elsene
Xavier De Buestraat 41
1180 Ukkel
Active since 7 March 2019
Baljuwstraat 104
1050 Elsene
Active since 17 July 2019
Sint-Pietersvoorplein 3
1180 Ukkel
Active since 1 July 2019
Bisschopsstraat 30
1000 Brussel
Active since 20 November 2021
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0468.799.020
- VAT number
- BE 0468.799.020
- Registered office
- Sint-Bonifaasstraat 7, 1050 Elsene
- Names & denominations
- THAICO
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 27 December 1999
- Peppol
- Active · Active since 10 Dec 2025
- Activities · NACE
Activiteiten van eetgelegenheden met volledige bediening
Restaurants van het traditionele type
Eetgelegenheden met volledige bediening
Uitzendkoks en verzorgen van feesten en recepties
Technische testen en analyses
Computeradviesbureaus
Overige technische testen en toetsen
Catering van evenementen
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