ART-THERM
ActiveSummary
The computed 12-month bankruptcy probability of ART-THERM is 6.5% (elevated). The 2024 annual accounts show negative equity (€-7k) and a net result of €-13k. Equity is shrinking by ~62.4% per year across the filed fiscal years. Its solvency ranks better than 5% of 36375 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
22
/ 100
Critical
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2022
Profitability0▼-77
Solvency0▼-61
Growth32▼-20
Track record94
Bankruptcy probability, 12 months
6.5%
Elevated
0%0.5%1.5%4%10%≥ 25%
No credit on open account
balance sheet total too small for a liquidity verdict, and equity is negative.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Age of the figures
Age of the figures
21 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
212224
2021 to 2024 · latest year €-7k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-10-2025, 85 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 · 3 filingsDeviation from the deadline
2025
not confirmed
2024
85 d late
2022
21 d late
2021
4 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€-7k
2022 · €7k
2021: €6k
2022: €7k
2021 → 2024
Total assets
€2k▼ 92.4%
2022 · €20k
2021: €27k
2022: €20k
2021 → 2024
Net result
€-13k
2022 · €1k
2021: €3k
2022: €1k
2021 → 2024
Working capital
€-7k▼ 45.5%
2022 · €-5k
2021: €-13k
2022: €-5k
2021 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202120222024Trend
Equity€6k-€7k▲ 21.1%€-7k
Operating result€3k-€876▼ 68.8%€-13k
Net result€3k-€1k▼ 56.1%€-13k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result is €-13k in 2024, compared with €876 in 2022. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2024 in colour, 2022 as the grey bar beneath
Assets €2k
Fixed assets
€485 ▼ 95.9%
Current assets
€1k ▼ 87.0%
Key figures and ratios
EBITDA
€-8k▼
2022 · €8k
Cash flow
€-8k▼
2022 · €8k
Interest coverage
-32.08▼
2022 · 1065.62
Debt
€8k▼
2022 · €13k
Debt ≤ 1 year
€8k▼
2022 · €13k
Income taxes
€29
Ratios withheld: a balance sheet total of €2k is too small for a meaningful ratio.
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 2022 · 32 lines
Balance sheet
Code20222024
Assets
Total assets20/58€20k€2k▼
Fixed assets21/28€12k€485▼
Tangible fixed assets22/27€12k€485▼
Furniture and vehicles24€12k€485▼
Current assets29/58€8k€1k▼
Amounts receivable within one year40/41€4k€267▼
Trade receivables40€2k-
Other amounts receivable41€2k€267▼
Cash at bank and in hand54/58€4k€752▼
Equity and liabilities
Total equity and liabilities10/49€20k€2k▼
Equity10/15€7k€-7k▼
Contributions10/11€3k€3k=
Profit (loss) carried forward14€4k€-10k▼
Amounts payable17/49€13k€8k▼
Amounts payable within one year42/48€13k€8k▼
Trade debts44€12k€5k▼
Suppliers440/4€12k€5k▼
Other amounts payable47/48€1k€3k▲
Income statement
Code20222024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€5k▼
Other operating charges640/8€233€3k▲
Gross operating margin9900€8k€-5k▼
Operating profit (loss)9901€876€-13k▼
Financial income75/76B€357-
Recurring financial income75€357-
Financial charges65/66B€7€255▲
Recurring financial charges65€7€255▲
Profit (loss) for the period before taxes9903€1k€-13k▼
Income taxes67/77-€29
Profit (loss) for the period9904€1k€-13k▼
Profit (loss) for the period to be appropriated9905€1k€-13k▼
Appropriation of the result
Profit (loss) to be appropriated9906€4k€-10k▼
Profit (loss) brought forward from the previous period14P€3k€3k▲
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
24-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 85 days late
2024
31-12
Financial
Weakest financial yearnet €-13k ▼1173%
Net result drops to €-13k, the lowest in the series.
2023
21-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 21 days late
2022
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Aalst · 1 establishment unit since 2021
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.
Tolstraat 269320 AalstGround area
552 m²
Building footprint
101 m²
Volume, LiDAR
578 m³
Parcel 41047C0318/00F000, Flanders · tallest building 10.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ART-THERM
since 20212.337.398.805
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41047C0318/00F000 | Flanders | 552 m² | 1 · 101 m² | 10.2 m · 2 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
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LN CHAUFFAGE-SANITAIRE
BE 1004.595.346
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Plan B Group
BE 1004.681.359
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LOUHEAT
BE 0772.438.714
Houffalize · Eq €7,092
Of 9,530 companies in sector 43222 we hold annual accounts for 5,662. 2,026 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
Founded27-04-2021
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
43221Plumbing work
Sources
Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:art.therm@outlook.com