DELTA THERMIC
ActiveThe computed 12-month bankruptcy probability of DELTA THERMIC is 1.8% (moderate). The 2025 annual accounts show equity of €2.88M and a net result of €1.28M. Equity is growing by ~19.3% per year across the filed fiscal years. Its solvency ranks better than 22% of 2036 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
50
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability74▲+56
Solvency47▲+6
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €140k at 30 days acceptable
Liquidity tight (current ratio 1.12 against 1.01 in 2024; short-term debt: 76.8% and cash: 8.9% of total assets), and 78.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Ten signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 →
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
21.5%
Return on assets
9.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 2036 sector peers (2025).
NBB · sector comparisonPosition among 2036 sector peers
Solvency
better than 22%
← weakest
strongest →
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 13-07-2026, 18 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
18 d early
2024
23 d early
2023
19 d early
2021
4 d early
2020
11 d early
2019
45 d late
← before the deadline
after the deadline →
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
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€23.79M
EBIT margin
7.9%
Net result
€1.28M
2024 · €-575k
2019: €-2k
2020: €6k
2021: €8k
2023: €1.66M
2024: €-575k
2019 → 2025
Working capital
€1.22M▲ 1,141%
2024 · €98k
2020: €1.00M
2021: €925k
2023: €1.11M
2024: €98k
2020 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202320242025Trend
Turnover€23.79M
Equity€1.00M-€2.01M▲ 100%€2.67M▲ 32.6%€2.09M▼ 21.5%€2.88M▲ 37.4%
Operating result€-2k-€-2k▼ 44.5%€2.52M€-242k€1.88M
Net result€6k-€8k▲ 23.9%€1.66M▲ 20,730%€-575k€1.28M
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €1.88M after a loss of €242k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €13.36M
Fixed assets
€1.88M▼ 13.2%
Current assets
€11.48M▲ 9.0%
Equity and liabilities €13.36M
Equity
€2.88M▲ 37.4%
Debt
€10.48M▼ 1.1%
The debt ratio falls from 83.5% to 78.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€2.34M▲
2024 · €231k
Cash flow
€1.75M▲
2024 · €-102k
Solvency
21.5%▲
2024 · 16.5%
Current ratio
1.12▲
2024 · 1.01
Quick ratio
0.84▼
2024 · 0.88
Debt / equity
3.64▼
2024 · 5.06
ROE
44.6%▲
2024 · -27.4%
ROA
9.6%▲
2024 · -4.5%
Interest coverage
8.06▲
2024 · 0.59
Debt
€10.48M▼
2024 · €10.60M
Debt ≤ 1 year
€10.26M▼
2024 · €10.43M
Debt > 1 year
€191k▲
2024 · €160k
Income taxes
€378k▲
2024 · €65k
Staff costs
€6.19M▼
2024 · €8.44M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€12.70M€13.36M▲
Fixed assets21/28€2.17M€1.88M▼
Intangible fixed assets21€1.34M€987k▼
Tangible fixed assets22/27€821k€894k▲
Land and buildings22€4k€4k▼
Plant, machinery and equipment23€342k€318k▼
Furniture and vehicles24€97k€92k▼
Leasing and similar rights25€200k€271k▲
Other tangible fixed assets26€12k€25k▲
Assets under construction and advance payments27€165k€183k▲
Financial fixed assets28€3k€1k▼
Other financial fixed assets284/8-€1k
Amounts receivable and cash guarantees285/8-€1k
Current assets29/58€10.53M€11.48M▲
Stocks and contracts in progress3€1.38M€2.91M▲
Stocks30/36€377k€291k▼
Raw materials and consumables30/31-€291k
Contracts in progress37€1.00M€2.62M▲
Amounts receivable within one year40/41€8.74M€7.30M▼
Trade receivables40€5.93M€5.06M▼
Other amounts receivable41€2.82M€2.24M▼
Cash at bank and in hand54/58€349k€1.18M▲
Deferred charges and accrued income490/1€55k€87k▲
Equity and liabilities
Total equity and liabilities10/49€12.70M€13.36M▲
Equity10/15€2.09M€2.88M▲
Contributions10/11€2.00M€2.00M=
Capital10€2.00M€2.00M=
Issued capital100€2.00M€2.00M=
Reserves13€332k€385k▲
Non-distributable reserves130/1€84k€137k▲
Legal reserve130€84k€137k▲
Tax-exempt reserves132€248k€248k=
Profit (loss) carried forward14€-238k€494k▲
Amounts payable17/49€10.60M€10.48M▼
Amounts payable after more than one year17€160k€191k▲
Financial debts170/4€160k€191k▲
Leasing and similar obligations172-€175k
Credit institutions173-€16k
Amounts payable within one year42/48€10.43M€10.26M▼
Current portion of amounts payable after more than one year42€319k€233k▼
Financial debts43€3.00M€3.00M=
Credit institutions430/8€3.00M€3.00M=
Trade debts44€4.13M€4.32M▲
Suppliers440/4€4.13M€4.32M▲
Advances received on contracts in progress46€1.37M€1.02M▼
Taxes, remuneration and social security45€892k€1.19M▲
Taxes450/3€106k€486k▲
Remuneration and social security454/9€785k€700k▼
Other amounts payable47/48€713k€500k▼
Accrued charges and deferred income492/3€12k€31k▲
Income statement
Code20242025
Operating income70/76A-€26.50M
Turnover70-€23.79M
Change in stocks of work in progress, finished goods and contracts in progress71-€1.96M
Other operating income74-€753k
Operating charges60/66A-€24.63M
Goods for resale, raw materials and consumables60-€14.84M
Purchases600/8-€14.75M
Change in stocks: decrease (increase)609-€86k
Services and other goods61-€3.08M
Remuneration, social security and pensions62€8.44M€6.19M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€473k€461k▼
Other operating charges640/8€41k€48k▲
Non-recurring operating charges66A€642k-
Gross operating margin9900€9.36M-
Operating profit (loss)9901€-242k€1.88M▲
Financial income75/76B€123k€106k▼
Recurring financial income75€123k€106k▼
Income from current assets751-€98k
Other financial income752/9-€8k
Financial charges65/66B€391k€319k▼
Recurring financial charges65€391k€319k▼
Debt charges650-€290k
Other financial charges652/9-€30k
Profit (loss) for the period before taxes9903€-509k€1.66M▲
Income taxes67/77€65k€378k▲
Taxes670/3-€378k
Profit (loss) for the period9904€-575k€1.28M▲
Transfer to tax-exempt reserves689€248k-
Profit (loss) for the period to be appropriated9905€-823k€1.28M▲
Appropriation of the result
Profit (loss) to be appropriated9906€-238k€1.05M▲
Profit (loss) brought forward from the previous period14P€585k€-238k▼
Transfer to equity691/2-€53k
To the legal reserve6920-€53k
Profit to be distributed694/7-€500k
Return on contributions (dividend)694-€500k
Social balance
Average headcount (FTE)908794.494.7▲
The notes to these accounts (78 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
13-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €1.28M
Net result €1.28M after one loss-making year.
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €-575k ▼135%
Net result drops to €-575k, the lowest in the series; recovery starts the following year.
12-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-06
Financial
Highest result since 2019net €1.66M ▲20730%
Operating result €2.52M, net result €1.66M, both a record.
2022
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €2MEq €2.01M ▲100%
2 profitable years in a row build equity to €2.01M.
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €6k
Net result €6k after one loss-making year.
31-12
Financial
Equity above €1MEq €1.00M ▲0.6%
Equity rises from €998k to €1.00M.
14-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 45 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Herstal · 2 establishment units since 2019
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.
Rue d'Abhooz 234040 HerstalGround area
4,542 m²
Building footprint
917 m²
Volume, LiDAR
5,906 m³
2 parcels, Flanders, Wallonia · tallest building 7.5 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
Rue d'Abhooz 23, 4040 Herstal
since 20192.327.323.275
Blancefloerlaan 179, 2050 Antwerpen
since 20212.325.515.513
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62312A0453/00K000 | Wallonia | 2,544 m² | 1 · 483 m² | 7.5 m · 2 fl. |
| 11813N0324/00Z000 | Flanders | 1,998 m² | 1 · 434 m² | 7.3 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 4,537 EUR awarded · 4,537 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 4,537 EUR | 4,537 EUR |
Schemes
Vlaams opleidingsverlof (VOV)
Recognitions · licences · registrations
Recognised contractor
5 categoriesDELTA THERMIC SA#9825
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Etablissements Jordan
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Farciennes · Eq €2.79M
Of 9,528 companies in sector 43222 we hold annual accounts for 5,659. 1,563 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded15-01-2019
Fiscal year end31-12
Activities, NACEBEL
43222Installation of electric heating, air conditioning, cooling and ventilation
33110Repair and maintenance of fabricated metal products
43221Plumbing work
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.