BATITHERM
ActiveSummary
The computed 12-month bankruptcy probability of BATITHERM is 5.2% (elevated). The 2024 annual accounts show equity of €112,410 and a net result of €17,641. Equity is growing by ~18.6% per year across the filed fiscal years. Its solvency ranks better than 89% of 36380 sector peers (fiscal year 2024). The company has been active since 2014 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags).
Checked score
Score 2024
59
/ 100
Fair
An elevated bankruptcy probability caps the score. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability88▼-12
Solvency100▲+1
Growth66▼-19
Track record92
Bankruptcy probability, 12 months
5.2%
Elevated
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days only on tighter terms
Liquidity ample (current ratio 5.42 against 3.76 in 2023; short-term debt: 16.7% and cash: 1.7% of total assets), and 16.7% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 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 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
61 d late
2022
58 d late
2021
46 d late
2020
82 d late
2019
119 d late
← 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 71 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Address struck
History
Go further with this company
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Financials · fiscal year 2024, micro schema
Turnover
€135,383▼ 53.6%
2023 · €291,594
EBIT margin
14.8%▼ 5.4pp
2023 · 20.2%
Net result
€17,641▼ 68.0%
2023 · €55,042
Working capital
€99,488▲ 9.0%
2023 · €91,306
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€128,234▲ 45.9%€149,305▲ 16.4%€172,512▲ 15.5%€291,594▲ 69.0%€135,383▼ 53.6%
Operating result€8,932€6,480▼ 27.4%€9,980▲ 54.0%€59,033▲ 492%€20,034▼ 66.1%
Net result€2,796€4,248▲ 51.9%€6,014▲ 41.6%€55,042▲ 815%€17,641▼ 68.0%
EBIT margin7.0%▲ 8.2pp4.3%▼ 2.6pp5.8%▲ 1.4pp20.2%▲ 14.5pp14.8%▼ 5.4pp
Equity€29,465▲ 10.5%€33,713▲ 14.4%€39,727▲ 17.8%€94,769▲ 139%€112,410▲ 18.6%
Total assets€35,542▲ 33.0%€49,158▲ 38.3%€61,792▲ 25.7%€127,849▲ 107%€134,897▲ 5.5%
Debt€6,077▲ 12,560%€15,445▲ 154%€22,065▲ 42.9%€33,080▲ 49.9%€22,487▼ 32.0%
Working capital€26,948▲ 5.1%€31,747▲ 17.8%€37,245▲ 17.3%€91,306▲ 145%€99,488▲ 9.0%
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 66% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €134,897
Fixed assets
€12,922 ▲ 273%
Current assets
€121,975 ▼ 1.9%
Equity and liabilities €134,897
Equity
€112,410 ▲ 18.6%
Debt
€22,487 ▼ 32.0%
Debt's share of the balance-sheet total falls from 25.9% to 16.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€25,297▼
2023 · €59,977
Cash flow
€22,904▼
2023 · €55,986
Current ratio
5.42▲
2023 · 3.76
Debt to equity
0.20▼
2023 · 0.35
ROE
15.7%▼
2023 · 58.1%
ROA
13.1%▼
2023 · 43.1%
Interest coverage
48.44▼
2023 · 124.44
Debt ≤ 1 year
€22,487▼
2023 · €33,080
Income taxes
€1,599▼
2023 · €2,837
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 5.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 34,672 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €128,234 | €149,305 | €172,512 | €291,594 | €135,383 | ▼ 53.6% |
| Goods, raw materials, services and sundry goods60/61 | - | €140,302 | €159,057 | €227,470 | €107,480 | ▼ 52.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €161 | €551 | €649 | €944 | €5,263 | ▲ 457% |
| Other operating charges640/8 | - | €1,971 | €2,826 | €4,147 | €2,605 | ▼ 37.2% |
| Gross operating margin9900 | €11,330 | €9,003 | €13,455 | €64,124 | €27,903 | ▼ 56.5% |
| Operating profit (loss)9901 | €8,932 | €6,480 | €9,980 | €59,033 | €20,034 | ▼ 66.1% |
| Financial income75/76B | - | €24 | €69 | €537 | €225 | ▼ 58.1% |
| Recurring financial income75 | €19 | €24 | €69 | €537 | €95 | ▼ 82.3% |
| Non-recurring financial income76B | - | €24 | €69 | €537 | €130 | ▼ 75.8% |
| Financial charges65/66B | - | €2,256 | €2,605 | €1,691 | €1,019 | ▼ 39.7% |
| Recurring financial charges65 | €1,712 | €1,065 | €1,485 | €482 | €522 | ▲ 8.4% |
| Non-recurring financial charges66B | - | €1,191 | €1,120 | €1,209 | €497 | ▼ 58.9% |
| Profit (loss) for the period before taxes9903 | €4,605 | €4,248 | €7,444 | €57,879 | €19,240 | ▼ 66.8% |
| Income taxes67/77 | €1,809 | - | €1,431 | €2,837 | €1,599 | ▼ 43.6% |
| Profit (loss) for the period9904 | €2,796 | €4,248 | €6,014 | €55,042 | €17,641 | ▼ 68.0% |
| Profit (loss) for the period to be appropriated9905 | €2,796 | €4,248 | €6,014 | €55,042 | €17,641 | ▼ 68.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €35,542 | €49,158 | €61,792 | €127,849 | €134,897 | ▲ 5.5% |
| Fixed assets21/28 | €2,517 | €1,966 | €2,482 | €3,463 | €12,922 | ▲ 273% |
| Tangible fixed assets22/27 | €1,492 | €941 | €1,457 | €2,438 | €11,897 | ▲ 388% |
| Plant, machinery and equipment23 | - | - | €1,067 | €678 | €290 | ▼ 57.2% |
| Furniture and vehicles24 | - | €941 | €390 | €1,760 | €11,607 | ▲ 560% |
| Financial fixed assets28 | €1,025 | €1,025 | €1,025 | €1,025 | €1,025 | = |
| Current assets29/58 | €33,025 | €47,192 | €59,310 | €124,386 | €121,975 | ▼ 1.9% |
| Stocks and contracts in progress3 | €11,950 | €11,320 | €3,163 | - | - | - |
| Stocks30/36 | - | €11,320 | €3,163 | - | - | - |
| Amounts receivable within one year40/41 | €10,801 | €17,748 | €55,316 | €97,629 | €117,399 | ▲ 20.3% |
| Trade receivables40 | - | €7,508 | €2,619 | €1,112 | €6,909 | ▲ 521% |
| Other amounts receivable41 | - | €10,240 | €52,698 | €96,517 | €110,490 | ▲ 14.5% |
| Cash at bank and in hand54/58 | €10,274 | €18,124 | €830 | €26,757 | €2,293 | ▼ 91.4% |
| Deferred charges and accrued income490/1 | - | - | - | - | €2,284 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €35,542 | €49,158 | €61,792 | €127,849 | €134,897 | ▲ 5.5% |
| Equity10/15 | €29,465 | €33,713 | €39,727 | €94,769 | €112,410 | ▲ 18.6% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Outside capital11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Share premium1100/10 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | €10,865 | €15,113 | €21,127 | €76,169 | €93,810 | ▲ 23.2% |
| Amounts payable17/49 | €6,077 | €15,445 | €22,065 | €33,080 | €22,487 | ▼ 32.0% |
| Amounts payable within one year42/48 | €6,077 | €15,445 | €22,065 | €33,080 | €22,487 | ▼ 32.0% |
| Financial debts43 | - | - | €1,959 | - | €4,375 | - |
| Credit institutions430/8 | - | - | €1,959 | - | €4,375 | - |
| Trade debts44 | €5,823 | €811 | €12,834 | €28,458 | €11,158 | ▼ 60.8% |
| Suppliers440/4 | - | €811 | €12,834 | €28,458 | €11,158 | ▼ 60.8% |
| Advances received on contracts in progress46 | - | - | €900 | €2,900 | €2,900 | = |
| Taxes, remuneration and social security45 | - | €13,615 | €4,729 | €755 | €1,429 | ▲ 89.3% |
| Taxes450/3 | - | €615 | €3,229 | €755 | €1,429 | ▲ 89.3% |
| Remuneration and social security454/9 | - | €13,000 | €1,500 | - | - | - |
| Other amounts payable47/48 | - | €1,020 | €1,642 | €968 | €2,624 | ▲ 171% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,796 | €4,248 | €6,014 | €55,042 | €17,641 | ▼ 68.0% |
| + Depreciation and write-downs630 | €161 | €551 | €649 | €944 | €5,263 | ▲ 457% |
| Operating cash flow (approximation) | €2,957 | €4,799 | €6,663 | €55,986 | €22,904 | ▼ 59.1% |
| Investment in fixed assets (approximation) | - | -€0 | -€1,165 | -€1,926 | -€14,721 | ▼ 665% |
| Change in cash | - | €7,850 | -€17,294 | €25,927 | -€24,465 | ▼ 194% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
24-01
KBO administration
Address struck
2024
31-12
Financial
Equity above €100,000Eq €112,410 ▲18.6%
5 profitable years in a row build equity to €112,410.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
31-12
Financial
Highest result since 2018net €55,042 ▲815%
Operating result €59,033, net result €55,042, both a record.
27-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 58 days late
2022
15-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 46 days late
2021
21-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 82 days late
2020
31-12
Financial
Back to profitnet €2,796
Net result €2,796 after one loss-making year.
27-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 119 days late
2019
31-12
Financial
Weakest financial yearnet -€4,615
Net result drops to -€4,615, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 271current ratio 535.25
Current ratio from 1.97 to 535.25; short-term debt falls from €23,999 to €48.
Show earlier events
17-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 57 days late
21-03
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 233 days late
2016
20-10
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 81 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are 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, Schaarbeek · 1 establishment unit since 2015
Ground area
218 m²
Building footprint
128 m²
Volume, LiDAR
1,550 m³
Parcel 21903B0159/02P003, Brussels · tallest building 14.2 m, ±4 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
BATITHERM
since 20152.238.295.883
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21903B0159/02P003 | Brussels | 218 m² | 1 · 128 m² | 14.2 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
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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BUEDTS- THIELENS
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Of 15,521 companies in sector 43990 we hold annual accounts for 7,420. 6,217 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded19-06-2014
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0553928693
Also
9925:BE0553928693
Registered
02-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.