Starting capital
€3,000 100 shares
Heat Solution
Lifetime
2 annual accounts with figures on one time axispeak €20,111 (2024)
-€3,258▼ €23,369
lowest -€9,431 (2025)
-€9,431▼ €23,506
peak €17,076 (2024)
€6,641▼ 61.1%
€6,646▼ 59.0%
Board1 name since 2024
1 directorEL FAQUIRI Nordin
Documentsfilings and deeds
21-08-202621 days late
2025micro format
Gross margin from €20,111 to -€3,258Loss of €9,431Equity from €17,076 to €6,641Debts from €16,214 to €6,646Cash from €578 to €155
Key points
from the 2025 annual accountsPosition in the sector
-€9,431
Lower net result than 87% of companies in specialised construction. Sector median €10,189 · 35,107 companies.
2025 accounts filed 21 days after the deadlineTurnover not published (micro format)
Checked score
50
Fair
Financially stronger than 20% of micro companies in specialised construction (NACE 43)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
2.7% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,701 companies (NACE 43, micro).
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
08-2025: 2.0%
09-2025: 1.7%▼ -0.3 percentage points vs 08-2025lowest value
10-2025: 2.0%▲ +0.3 percentage points vs 09-2025
11-2025: 2.1%▲ +0.1 percentage points vs 10-2025
12-2025: 2.2%▲ +0.1 percentage points vs 11-2025
01-2026: 2.2%● unchanged vs 12-2025
02-2026: 2.3%▲ +0.1 percentage points vs 01-2026
03-2026: 2.4%▲ +0.1 percentage points vs 02-2026
04-2026: 2.5%▲ +0.1 percentage points vs 03-2026
05-2026: 2.5%● unchanged vs 04-2026
06-2026: 2.5%● unchanged vs 05-2026
07-2026: 2.7%▲ +0.2 percentage points vs 06-2026
08-2026: 3.1%▲ +0.4 percentage points vs 07-2026highest value
09-2026: 2.7%▼ -0.4 percentage points vs 08-2026
10-2026: 2.7%● unchanged vs 09-2026
11-2026: 2.7%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Founded in 2024
Liquidity: current ratio 1.24, cash €155, halved
Sector: Specialised construction activities (NACE 43)
Last filed accounts filed 21 days late
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, micro). It does better than 54% of them on solvency, 16% on liquidity, 4% on profitability and 7% on growth.
The bankruptcy probability was computed on 07-11-2026 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 moderate class on 30-06-2025, 2.4% 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, 3,223 companies had the same profile as Heat Solution has now. Each dot stands for 9 companies, two years later.
87.8%
were still trading
8.7%
stopped another way
3.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Heat Solution itself: 2.7% 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 3,223 companies, not a prediction for Heat Solution. 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
No publishable credit limit, so credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is tight, with a current ratio of 1.24 (1.54 in 2024), below the usual 1.5. Short-term debt is 50% and cash 1.2% of total assets. 50% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
raises risk
raises risk · 2025 accounts filed 21 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-08-2026, 21 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 · 2 filingsDeviation from the deadline
2025
21 days late
2024
26 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 24 days after 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.
Companies Code · seven monthsWhere today falls in the filing period
08-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1011256177
Incorporation
Founding capital of €3,000, 100 shares · Founder: EL FAQUIRI Nordin · Appointment: EL FAQUIRI Nordin (director) · published on 09-07-2024 · Gazette deed
First establishment
Léopold Procureurstraat 37, Jette
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Heat Solution Jette | - | - | 50.0% | - |
| SunSway Schilde | - | - | 51.9% | - |
| Refripro Farciennes | €105,545 | 0.3% | 40.2% | - |
| BG Works Schaerbeek | - | - | -84.9% | - |
| Karno Operations Woluwe-Saint-Pierre | - | - | -46.3% | - |
| VINCY & CO Koekelberg | €9,652 | -29.4% | 1.3% | - |
| Interna Heusden-Zolder | - | - | 7.7% | - |
These companies have the same main activity as Heat Solution: installation of electric heating, air conditioning, cooling and ventilation (NACE 43222). They are comparable in size and age: total assets between €12,300 and €14,200, founded between 2023 and 2025.
Official details
Source: KBO- Status
- Active since 05-07-2024Normal situation
- Activity
- Installation of electric heating, air conditioning, cooling and ventilationNACE 43222and 3 others
- Establishment unit
- 2.361.625.1481090 Jette, since 05-07-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 13-10-2026
Insights on Heat Solution
The computed 12-month bankruptcy probability of Heat Solution is 2.7% (moderate). The annual accounts of Heat Solution for financial year 2025 show a net loss of 71% of total assets and of 55% of the equity at the start of that year.
The 2025 annual accounts show equity of €6,641 and a net result of -€9,431. Its solvency ranks better than 54% of 35,119 sector peers (NACE 43, financial year 2025).
The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.
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 Heat Solution
- What is the company number of Heat Solution?
- The company number of Heat Solution is 1011.256.177. The VAT number is the same number with BE in front: BE 1011.256.177.
- Where is Heat Solution based?
- The registered office is at Léopold Procureurstraat 37, 1090 Jette.Company details
- What does Heat Solution 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 Heat Solution?
- Heat Solution is a private limited company (BV).
- When was Heat Solution founded?
- Heat Solution was founded on 05-07-2024.
- Is Heat Solution still active?
- Yes, Heat Solution is an active enterprise in the KBO register.
- What is the turnover of Heat Solution?
- The annual accounts for financial year 2025 state no turnover. The micro format does not require it.Financials
- Is Heat Solution profitable?
- In financial year 2025, Heat Solution made a loss of €9,431.
- Where can I find the annual accounts of Heat Solution?
- Heat Solution filed 2 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Heat Solution due?
- Heat Solution 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 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 Compare this company with its sector.Sector benchmark
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