CLIMATH
ActiveSummary
CLIMATH has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €136,932 and a net result of €11,047. Equity is growing by ~14.6% per year across the filed fiscal years. Its solvency ranks better than 46% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73▲+2
Solvency68▼-5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity ample (current ratio 1.66 against 1.82 in 2024; short-term debt: 45.5% and cash: 26% of total assets), but 56.8% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five 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 · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
43.2%
Return on assets
3.5%
Age of the figures
9 mo
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 · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
58 d early
2023
28 d late
2022
13 d early
2021
22 d late
2020
27 d late
2019
35 d 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 5 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€136,932▼ 4.8%
2024 · €143,885
Total assets
€317,049▲ 5.2%
2024 · €301,267
Net result
€11,047▼ 9.5%
2024 · €12,206
Working capital
€95,387▼ 11.6%
2024 · €107,884
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€23,179▼ 13.7%€13,845▼ 40.3%€31,064▲ 124%€19,349▼ 37.7%€18,857▼ 2.5%
Net result€17,149within the sector's middle half▼ 7.6%€9,819within the sector's middle half▼ 42.7%€21,701within the sector's middle half▲ 121%€12,206within the sector's middle half▼ 43.8%€11,047within the sector's middle half▼ 9.5%
Equity€100,160within the sector's middle half▲ 20.7%€109,979within the sector's middle half▲ 9.8%€131,680above the sector's middle half▲ 19.7%€143,885above the sector's middle half▲ 9.3%€136,932within the sector's middle half▼ 4.8%
Total assets€187,264within the sector's middle half▲ 5.1%€190,614within the sector's middle half▲ 1.8%€296,544within the sector's middle half▲ 55.6%€301,267above the sector's middle half▲ 1.6%€317,049above the sector's middle half▲ 5.2%
Debt€87,104▼ 8.5%€80,636▼ 7.4%€164,864▲ 104%€157,382▼ 4.5%€180,117▲ 14.4%
Working capital€100,909▲ 20.2%€108,233▲ 7.3%€119,662▲ 10.6%€107,884▼ 9.8%€95,387▼ 11.6%
Solvency53.5%within the sector's middle half▲ 6.9pp57.7%within the sector's middle half▲ 4.2pp44.4%within the sector's middle half▼ 13.3pp47.8%within the sector's middle half▲ 3.4pp43.2%within the sector's middle half▼ 4.6pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 3% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €317,049
Fixed assets
€77,345 ▲ 25.8%
Current assets
€239,704 =
Equity and liabilities €317,049
Equity
€136,932 ▼ 4.8%
Debt
€180,117 ▲ 14.4%
Debt's share of the balance-sheet total rises from 52.2% to 56.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€42,034▲
2024 · €31,169
Cash flow
€34,224▲
2024 · €24,025
Current ratio
1.66▼
2024 · 1.82
Quick ratio
1.41▲
2024 · 1.37
Debt to equity
1.32▲
2024 · 1.09
ROE
8.1%▼
2024 · 8.5%
ROA
3.5%▼
2024 · 4.1%
Interest coverage
8.09▲
2024 · 5.65
Debt ≤ 1 year
€144,318▲
2024 · €131,917
Debt > 1 year
€35,800▲
2024 · €25,465
Income taxes
€5,701▲
2024 · €5,278
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,891 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 under 5% of the balance sheet
0.6%
went bankrupt
4.0%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.9% 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 10,891 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | -€1,296 | €373 | €294 | €411 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,356 | €385 | €5,473 | €11,819 | €23,177 | ▲ 96.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €631 | - | - | - |
| Other operating charges640/8 | €1,363 | €1,176 | €1,402 | €997 | €1,840 | ▲ 84.5% |
| Non-recurring operating charges66A | - | - | - | - | €1,199 | - |
| Gross operating margin9900 | €28,601 | €15,780 | €38,865 | €32,577 | €45,074 | ▲ 38.4% |
| Operating profit (loss)9901 | €23,179 | €13,845 | €31,064 | €19,349 | €18,857 | ▼ 2.5% |
| Financial income75/76B | €2,517 | €2,045 | €4,232 | €3,646 | €3,089 | ▼ 15.3% |
| Recurring financial income75 | €2,517 | €2,045 | €4,232 | €3,646 | €3,089 | ▼ 15.3% |
| Financial charges65/66B | €1,495 | €1,227 | €4,528 | €5,512 | €5,199 | ▼ 5.7% |
| Recurring financial charges65 | €1,230 | €1,227 | €4,528 | €5,512 | €5,199 | ▼ 5.7% |
| Non-recurring financial charges66B | €265 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €24,201 | €14,664 | €30,768 | €17,484 | €16,747 | ▼ 4.2% |
| Income taxes67/77 | €7,052 | €4,845 | €9,067 | €5,278 | €5,701 | ▲ 8.0% |
| Profit (loss) for the period9904 | €17,149 | €9,819 | €21,701 | €12,206 | €11,047 | ▼ 9.5% |
| Profit (loss) for the period to be appropriated9905 | €17,149 | €9,819 | €21,701 | €12,206 | €11,047 | ▼ 9.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €187,264 | €190,614 | €296,544 | €301,267 | €317,049 | ▲ 5.2% |
| Fixed assets21/28 | €702 | €1,746 | €47,341 | €61,466 | €77,345 | ▲ 25.8% |
| Tangible fixed assets22/27 | €702 | €1,746 | €47,341 | €61,466 | €77,345 | ▲ 25.8% |
| Land and buildings22 | €524 | €437 | €349 | €3,560 | €3,143 | ▼ 11.7% |
| Plant, machinery and equipment23 | €4 | €1,287 | €2,322 | €15,998 | €14,423 | ▼ 9.8% |
| Furniture and vehicles24 | €174 | €21 | €44,670 | €41,908 | €59,779 | ▲ 42.6% |
| Current assets29/58 | €186,562 | €188,869 | €249,203 | €239,801 | €239,704 | = |
| Stocks and contracts in progress3 | €70,817 | €101,534 | €59,687 | €59,015 | €35,908 | ▼ 39.2% |
| Stocks30/36 | €70,817 | €101,534 | €59,687 | €59,015 | €35,908 | ▼ 39.2% |
| Amounts receivable within one year40/41 | €74,565 | €70,468 | €136,048 | €67,574 | €117,338 | ▲ 73.6% |
| Trade receivables40 | €71,921 | €67,213 | €129,779 | €55,670 | €117,165 | ▲ 110% |
| Other amounts receivable41 | €2,644 | €3,255 | €6,269 | €11,904 | €173 | ▼ 98.5% |
| Cash at bank and in hand54/58 | €40,991 | €16,671 | €52,967 | €112,772 | €82,444 | ▼ 26.9% |
| Deferred charges and accrued income490/1 | €190 | €196 | €501 | €440 | €4,014 | ▲ 812% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €187,264 | €190,614 | €296,544 | €301,267 | €317,049 | ▲ 5.2% |
| Equity10/15 | €100,160 | €109,979 | €131,680 | €143,885 | €136,932 | ▼ 4.8% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €34,860 | €44,660 | €66,260 | €78,460 | €71,460 | ▼ 8.9% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €33,000 | €42,800 | €64,400 | €76,600 | €69,600 | ▼ 9.1% |
| Profit (loss) carried forward14 | €59,100 | €59,119 | €59,220 | €59,225 | €59,272 | ▲ 0.1% |
| Amounts payable17/49 | €87,104 | €80,636 | €164,864 | €157,382 | €180,117 | ▲ 14.4% |
| Amounts payable after more than one year17 | €1,451 | - | €35,323 | €25,465 | €35,800 | ▲ 40.6% |
| Financial debts170/4 | €1,451 | - | €35,323 | €25,465 | €35,800 | ▲ 40.6% |
| Amounts payable within one year42/48 | €85,653 | €80,636 | €129,541 | €131,917 | €144,318 | ▲ 9.4% |
| Current portion of amounts payable after more than one year42 | €25,575 | €21,451 | €57,358 | €9,858 | €16,008 | ▲ 62.4% |
| Financial debts43 | - | - | - | €40,000 | €20,000 | ▼ 50.0% |
| Credit institutions430/8 | - | - | - | €40,000 | €20,000 | ▼ 50.0% |
| Trade debts44 | €15,040 | €13,663 | €16,158 | €19,124 | €24,505 | ▲ 28.1% |
| Suppliers440/4 | €15,040 | €13,663 | €16,158 | €19,124 | €24,505 | ▲ 28.1% |
| Taxes, remuneration and social security45 | €6,983 | €3,529 | €3,306 | €5,511 | €8,995 | ▲ 63.2% |
| Taxes450/3 | €6,983 | €3,529 | €1,806 | €5,511 | €7,495 | ▲ 36.0% |
| Remuneration and social security454/9 | - | - | €1,500 | - | €1,500 | - |
| Other amounts payable47/48 | €38,055 | €41,993 | €52,720 | €57,423 | €74,809 | ▲ 30.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,149 | €9,819 | €21,701 | €12,206 | €11,047 | ▼ 9.5% |
| + Depreciation and write-downs630 | €5,356 | €385 | €5,473 | €11,819 | €23,177 | ▲ 96.1% |
| Operating cash flow (approximation) | €22,505 | €10,203 | €27,174 | €24,025 | €34,224 | ▲ 42.5% |
| Investment in fixed assets (approximation) | - | -€1,428 | -€51,069 | -€25,945 | -€39,056 | ▼ 50.5% |
| Change in cash | - | -€24,320 | €36,297 | €59,805 | -€30,328 | ▼ 151% |
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
Next filing, fiscal year 2026, expected by
2026
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
03-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
31-12
Financial
Highest result since 2018net €21,701 ▲121%
Operating result €31,064, net result €21,701, both a record.
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
2021
31-12
Financial
Equity above €100,000Eq €100,160 ▲20.7%
4 profitable years in a row build equity to €100,160.
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet €776 ▼79.4%
Net result drops to €776, the lowest in the series; recovery starts the following year.
01-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 62 days late
2018
21-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 52 days late
2017
06-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Ath · 1 establishment unit since 2012
Ground area
1,868 m²
Building footprint
121 m²
Volume, LiDAR
936 m³
Parcel 51048C0109/00W000, Wallonia · tallest building 9.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
CLIMATH
since 20122.206.370.611
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 51048C0109/00W000 | Wallonia | 1,868 m² | 1 · 121 m² | 9.8 m · 3 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.
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Of 7,043 companies in sector 43221 we hold annual accounts for 3,473. 3,019 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
Founded11-01-2012
Fiscal year end31-12
Activities, NACEBEL 2025
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0842598022
Also
9925:BE0842598022
Registered
09-02-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.