Equity
€1.1m ▲ 36.8%
Apply Heating has made a profit in every financial year since 2023.
Apply Heating
Lifetime
3 annual accounts with figures on one time axispeak €1.2m (2025)
€1.2m▲ 59.0%
peak €348,640 (2023)
€297,788▲ 9.7%
peak €1.1m (2025)
€1.1m▲ 36.8%
€1.2m▲ 21.2%
peak 11 FTE (2025)
11 FTE▲ 189%
Board2 names since 2022
2 directorsME Consulting and 1 other
Documentsfilings and deeds
12-08-202612 days late
2025abbreviated format
Gross margin from €725,301 to €1.2mStaff from 3.8 FTE to 11 FTEEquity from €809,244 to €1.1mDebts from €1.0m to €1.2mInvestments €87,867Cash from €56,534 to €19,483
Key points
from the 2025 annual accountsTurnover
≈ €3.2m estimated
The abbreviated format states no turnover.
Investments
€92,922 1.9 × depreciation
Green is investment, beige is depreciation. Machinery stands 36.6% higher than in 2024.
Staff
11 FTE ▲ 189%
More staff in 2025 from 3.8 FTE to 11 FTE.
Filings
3 annual accounts 2 late
The 2024 accounts came latest: 29 days after the end of the period.
Position in the sector
€297,788
Higher net result than 92% of companies in specialised construction. Sector median €26,704 · 9,932 companies.
Checked score
69
Healthy
Financially stronger than 64% of small companies in specialised construction (NACE 43)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.3% across 2,652 companies (NACE 43, small).
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.5%
01-2025: 1.5%● unchanged vs 12-2024
02-2025: 1.5%● unchanged vs 01-2025
03-2025: 1.5%● unchanged vs 02-2025
04-2025: 1.9%▲ +0.4 percentage points vs 03-2025
05-2025: 2.3%▲ +0.4 percentage points vs 04-2025
06-2025: 2.9%▲ +0.6 percentage points vs 05-2025
07-2025: 3.2%▲ +0.3 percentage points vs 06-2025
08-2025: 3.9%▲ +0.7 percentage points vs 07-2025highest value
09-2025: 2.1%▼ -1.8 percentage points vs 08-2025
10-2025: 2.1%● unchanged vs 09-2025
11-2025: 1.2%▼ -0.9 percentage points vs 10-2025
12-2025: 1.2%● unchanged vs 11-2025
01-2026: 1.2%● unchanged vs 12-2025
02-2026: 1.2%● unchanged vs 01-2026
03-2026: 1.2%● unchanged vs 02-2026
04-2026: 1.2%● unchanged vs 03-2026
05-2026: 1.2%● unchanged vs 04-2026
06-2026: 1.2%● unchanged vs 05-2026
07-2026: 1.5%▲ +0.3 percentage points vs 06-2026
08-2026: 2.0%▲ +0.5 percentage points vs 07-2026
09-2026: 0.9%▼ -1.1 percentage points vs 08-2026lowest value
10-2026: 0.9%● unchanged vs 09-2026lowest value
11-2026: 0.9%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Founded in 2022
Liquidity: current ratio 2.07, cash €19,483, halved
Sector: Specialised construction activities (NACE 43)
lowers risk
Figures for financial year 2025 (filed on 12-08-2026)
Calculation
The band follows from the bankruptcy probability. 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, small). It does better than 64% of them on solvency, 23% on liquidity, 82% on profitability and 88% on growth.
The bankruptcy probability was computed on 05-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 3,127 companies had the same profile as Apply Heating has now. Each dot stands for 8 companies, two years later.
97.2%
were still trading
1.9%
stopped another way
0.8%
went bankrupt
That fits the bankruptcy probability of Apply Heating itself: 0.9% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,127 companies, not a prediction for Apply Heating. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €75,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.07 (2.31 in 2024), above the usual 1.5. Short-term debt is 44.8% and cash 0.8% of total assets. However, 52.9% of the assets are financed with debt and provisions.
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Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 12 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 12-08-2026, 12 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 · 3 filingsDeviation from the deadline
2025
12 days late
2024
29 days late
2023
56 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 5 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 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 12 August (3 of the last 3 accounts filed within 67 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
06-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0795216985
Registered office moved within Aalst
New registered office: Moorselbaan 316 te 9300 Aalst · Previous registered office: Pachting 1, 9310 Aalst · Permanent representatives: Meesters Vincent and Wannes Sas · General meeting of 07-07-2023 · Gazette deed
First establishment
John F. Kennedylaan 26, Aartselaar
Incorporation
Demerger: Apply Heating splits off to Apply Heating · Appointments: Ostia Management (director) and ME Consulting (director) · Permanent representatives: Iselin LOZOVEANU and Emanuel Munteanu · published on 27-12-2022 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Apply Heating Aalst | €2.3m | €1.2m | 47.1% | 11 |
| Building Engineering & Technical Installation Contractor SRL Grez-Doiceau | €2.0m | €0.9m | 28.4% | 8.1 |
| Celsius & Watt Merelbeke-Melle | €1.8m | €1.5m | 51.2% | 12.9 |
| ULTRATRON Sint-Niklaas | €1.8m | €1.6m | 53.8% | 11.4 |
| VERWARMING & SANITAIR ERENS Bilzen-Hoeselt | €3.2m | €1.4m | 87.8% | 10.3 |
| Technique du Froid Florennes | €2.2m | €1.4m | 23.8% | 16.5 |
| 4TECHNICS Westerlo | €3.0m | €1.2m | 32.1% | 10.2 |
These companies have the same main activity as Apply Heating: installation of electric heating, air conditioning, cooling and ventilation (NACE 43222). They are comparable in size and age: total assets between €1.8m and €3.2m, founded between 2019 and 2021.
Official details
Source: KBO- Status
- Active since 22-12-2022Normal situation
- Activity
- Installation of electric heating, air conditioning, cooling and ventilationNACE 43222and 2 others
- Establishment unit
- 2.340.314.4462630 Aartselaar, since 01-01-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 24-11-2023
Insights on Apply Heating
Apply Heating files the abbreviated format. That format states no turnover. The gross margin rose from €636,486 in 2023 to €1.2m in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Apply Heating
- What is the company number of Apply Heating?
- The company number of Apply Heating is 0795.216.985. The VAT number is the same number with BE in front: BE 0795.216.985.
- Where is Apply Heating based?
- The registered office is at Moorselbaan 316, 9300 Aalst.Company details
- What does Apply Heating 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 Apply Heating?
- Apply Heating is a private limited company (BV).
- When was Apply Heating founded?
- Apply Heating was founded on 22-12-2022.
- Is Apply Heating still active?
- Yes, Apply Heating is an active enterprise in the KBO register.
- How many employees does Apply Heating have?
- Apply Heating had an average of 11 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of Apply Heating?
- The turnover in financial year 2025 is ≈ €3.2m. This figure is estimated from the gross margin of €1.2m and 31 comparable companies (NACE 432). It probably lies between €2.5m and €3.9m.
- Is Apply Heating profitable?
- In financial year 2025, Apply Heating made a profit of €297,788.
- Where can I find the annual accounts of Apply Heating?
- Apply Heating filed 3 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Apply Heating due?
- Apply Heating must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence See whether the workforce is growing and whether people stay.Employer check Check whether you can trust this company with building work.Contractor check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check
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