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Applications Thermiques

Active
Public limited companyfounded 1978active for 48 yearsKlein Frankrijkstraat 41, 9600 Ronse, BelgiumKBO/BCE: BE 0418.359.416
Summary

The computed 12-month bankruptcy probability of Applications Thermiques is 2.8% (moderate). The 2025 annual accounts show negative equity (-€124,544) and a net result of -€270,109. Equity is shrinking by about 26% per year across the filed financial years. Its solvency ranks better than 5% of 9,849 sector peers (NACE 43, financial year 2025). The company has been active since 1978 and the Belgian Official Gazette contains no insolvency or warning signals.

Risk analysisFollow ReportCompare
Applications ThermiquesActiveChecked score 49/100
Risk analysis ReportCompare

Overview

Activity
Installation of electric heating, air conditioning, cooling and ventilation
NACE 43222Manufacture of machinery and equipment not elsewhere classified NACE 28250
3rd oldest company in Ronse, Construction sector1 site
Size
€194,146total assets 2025
Staff
2.5 FTE
Equity
-€124,544
Loss
-€270,109
Turnover not published (abbreviated or micro format)Net result -176%: other schema
Financial health
49 Fair Checked score 2025
Bankruptcy probabilitywithin 12 months
2.8%
Structure
2025 accounts filed 76 days late2 of 13 deeds summarised
Why 49raises riskLoss of €270,109, the second in a row (financial year 2025)Negative equity -€124,544Last filed accounts filed 76 days late; 2 of the last 3 latelowers riskSize: total assets €194,146Show the evidence

Checked score

Score 2025
49 / 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 20% of its sector peers (NACE 43, micro)
Every signal that counts is listed under Signals.
Financial strength · tick = 2024
Weak
Solvency 0-60
equity -64.2% of total assets
Liquidity 73-6
short-term debt 11.6% · cash 19.2%
Profitability 0=
return on assets -139.1%
Bankruptcy probability, 12 months
2.8% Moderate
0%0.5%1.5%4%10%≥ 25%

About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.7% (47,674 companies, NACE 43, micro)
Last 24 months 11-2024: 0.3%lowest value 12-2024: 0.3%● unchanged vs 11-2024lowest value 01-2025: 0.3%● unchanged vs 12-2024lowest value 02-2025: 0.3%● unchanged vs 01-2025lowest value 03-2025: 0.3%● unchanged vs 02-2025lowest value 04-2025: 0.3%● unchanged vs 03-2025 05-2025: 0.3%● unchanged vs 04-2025 06-2025: 0.3%● unchanged vs 05-2025 07-2025: 0.4%▲ +0.1 percentage points vs 06-2025 08-2025: 0.6%▲ +0.2 percentage points vs 07-2025 09-2025: 0.6%● unchanged vs 08-2025 10-2025: 0.5%▼ -0.1 percentage points vs 09-2025 11-2025: 0.5%● unchanged vs 10-2025 12-2025: 0.5%● unchanged vs 11-2025 01-2026: 0.5%● unchanged vs 12-2025 02-2026: 0.5%● unchanged vs 01-2026 03-2026: 0.5%● unchanged vs 02-2026 04-2026: 0.5%● unchanged vs 03-2026 05-2026: 0.5%● unchanged vs 04-2026 06-2026: 0.5%● unchanged vs 05-2026 07-2026: 0.5%● unchanged vs 06-2026 08-2026: 0.7%▲ +0.2 percentage points vs 07-2026 09-2026: 0.7%● unchanged vs 08-2026 10-2026: 2.8%▲ +2.1 percentage points vs 09-2026highest value
No credit on open account
Liquidity ample (current ratio 6.1, compared with 9.33 in 2024, above the usual 1.5; short-term debt: 11.6% and cash: 19.2% of total assets), but equity is negative.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

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%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro): better than 3% on solvency, 71% on liquidity, 4% on profitability and 2% on growth.

The bankruptcy probability was computed on 30-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Six signals.
lowers riskraises risk
raises risk · Loss of €270,109, the second in a row (financial year 2025)
NBB · annual accounts
raises risk · Negative equity -€124,544
NBB · annual accounts
lowers risk · Size: total assets €194,146
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
raises risk · Last filed accounts filed 76 days late; 2 of the last 3 late
NBB · filings
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
1819202122232425
2018 to 2025 · latest year -€124,544
raises risk · 2025 accounts filed 76 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-10-2026, 76 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filings
Deviation from the deadline
2025
76 days late
2024
57 days late
2023
22 days late
2022
14 days early
2021
25 days early
2020
38 days early
2019
21 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 8 days after the deadline; the sector median (NACE 43) for financial year 2024 is 1 day before the deadline, and 43% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 23 August (4 of the last 5 filed years within 48 days of that day).
Companies Code · seven months
Where today falls in the filing period
30-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Resignation: Claude Merry (sole director)Appointment: Christine Merry (director) ·…
  2. Annual accounts filedfinancial year 2025 · abbreviated…
  3. Weakest financial yearnet -€270,109

Key points

  • Risk: Negative equityfinancial year 2025: debts exceed assets -€124,544 View
  • Risk: 8 loss-making years in a rowloss financial year 2025 -€270,109 View
  • Caution: Result fell in 2025different schema filed ▼ 176% View
  • Caution: Among the weakest 5% on solvencysector median 44.0% · 9,849 companies -64.2% View
  • Caution: Board changedlatest change 18-06-2026 · 1 in office 1 joined · 1 left View
  • Caution: Latest accounts filed lateafter the legal deadline 76 days View
  • Active since 1978founded 09-06-1978 48 years View

By topic

Financials

Financial year
2025
Total assets
€194,146
Loss
-€270,109
Solvency
-64.2%
Total assets▼ 53.1%
Net result
20182025
Go to Financials

Timeline

Events
50
Since
1980
Next accounts
by 31-07-2027
  1. 26-09-2025Annual accounts filed
  2. 22-08-2024Annual accounts filed
  3. 22-03-2024Capital & shares · Resignations & appointments
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Installation of electric heating, air conditioning, cooling and…NACE 43222
Founded
09-06-1978
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Articles of association

Provisions read
34
Annual meeting
Second Tuesday of May at 15:00
Purpose
“De berekening en de uitvoering van installaties van centrale…” (deed in Dutch)
Go to Articles of association

Key facts about Applications Thermiques

What is the company number of Applications Thermiques?
0418.359.416. In Belgium the VAT number is the company number with BE in front: BE 0418.359.416.
Where is Applications Thermiques based?
The registered office is at Klein Frankrijkstraat 41, 9600 Ronse.Company details
What does Applications Thermiques do?
According to the KBO register, the main activity is installation of electric heating, air conditioning, cooling and ventilation (NACE 43222).
What is the legal form of Applications Thermiques?
Public limited company (NV).
When was Applications Thermiques founded?
On 09-06-1978.
Is Applications Thermiques still active?
Yes, Applications Thermiques is an active enterprise in the KBO register.
How many employees does Applications Thermiques have?
On average 2.5 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of Applications Thermiques?
Not stated in the processed annual accounts. The abridged format for small companies does not require turnover.
Is Applications Thermiques profitable?
In financial year 2025, Applications Thermiques made a loss of €270,109.
Where can I find the annual accounts of Applications Thermiques?
Applications Thermiques filed 47 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of Applications Thermiques due?
By 31-07-2027, for financial year 2026.Timeline

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