Heating Tec
Open bankruptcyFrom the official registers: KBO 12 annual accounts at the National Bank publications in the Belgian Official Gazette
Financials · financial year 2024, micro format
2024 annual accounts filed 29 days after the deadline Filed on 29 August 2025, deadline 31 July 2025 (7 months after the close on 31 December 2024, Companies Code art. 3:10). Source: NBB, 2025-00463307.
Latest annual accounts filed
Annual accounts 2024
- Financial year ended
- 31-12-2024
- Filed on
- 29-08-2025
- Format
- micro format
- Reference
- 2025-00463307
Equity
-€331,446
2023 · €2,555
Total assets
€326,710▼ 55.4%
2023 · €732,051
Net result
-€334,001▼ 951%
2023 · -€31,784
Working capital
-€319,263
2023 · €13,254
Trend over the years
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
The operating result for 2024 is a loss of €312,850, after a profit of €178 in 2023. It is the lowest result since 2020.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Operating result-€312,850
2024
Net result-€334,001
2024
Assets, equity and debt per financial year.
Total assets€326,710
2024
Equity-€331,446
2024
Debt€658,157
2024
Above zero, the company can pay its short-term debts with what it holds in the short term.
Working capital-€319,263
2024
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
Return on assets (ROA)-102.2%
2024
The higher the solvency, the better the company absorbs a setback.
Solvency-101.4%
2024
A ratio above 1 means the short-term assets cover the short-term debts.
Current ratio0.20
2024
Average staff per financial year, in full-time equivalents (FTE).
Staff (FTE)1.3
2022
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result€21,921-€67,210▲ 207%-€75,631€44,479€35,439▼ 20.3%€178▼ 99.5%-€312,850
Net result€11,673--€11,180-€105,669below the sector's middle half▼ 845%€31,528above the sector's middle half-€9,903below the sector's middle half-€31,784below the sector's middle half▼ 221%-€334,001below the sector's middle half▼ 951%
Equity€129,563-€118,383▼ 8.6%€12,714below the sector's middle half▼ 89.3%€44,242within the sector's middle half▲ 248%€34,339within the sector's middle half▼ 22.4%€2,555below the sector's middle half▼ 92.6%-€331,446below the sector's middle half
Total assets€330,177-€331,004▲ 0.3%€607,752above the sector's middle half▲ 83.6%€706,875above the sector's middle half▲ 16.3%€773,883above the sector's middle half▲ 9.5%€732,051above the sector's middle half▼ 5.4%€326,710above the sector's middle half▼ 55.4%
Debt€200,614-€212,621▲ 6.0%€595,037▲ 180%€662,633▲ 11.4%€739,544▲ 11.6%€729,496▼ 1.4%€658,157▼ 9.8%
Working capital€110,449-€134,790▲ 22.0%€85,142above the sector's middle half▼ 36.8%€106,823above the sector's middle half▲ 25.5%€69,310within the sector's middle half▼ 35.1%€13,254within the sector's middle half▼ 80.9%-€319,263below the sector's middle half
Solvency39.2%-35.8%▼ 3.5pp2.1%below the sector's middle half▼ 33.7pp6.3%below the sector's middle half▲ 4.2pp4.4%below the sector's middle half▼ 1.8pp0.3%below the sector's middle half▼ 4.1pp-101.4%below the sector's middle half▼ 101.8pp
Current ratio1.57-1.79▲ 0.221.32within the sector's middle half▼ 0.471.32within the sector's middle half▼ 0.011.16within the sector's middle half▼ 0.161.03below the sector's middle half▼ 0.130.20below the sector's middle half▼ 0.83
Return on assets (ROA)3.5%--3.4%▼ 6.9pp-17.4%below the sector's middle half▼ 14.0pp4.5%within the sector's middle half▲ 21.8pp-1.3%below the sector's middle half▼ 5.7pp-4.3%below the sector's middle half▼ 3.1pp-102.2%below the sector's middle half▼ 97.9pp
Staff (FTE)1-2.3▲ 130%3.3above the sector's middle half▲ 43.5%3.4▲ 3.0%1.3▼ 61.8%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €326,710
Fixed assets
€245,063 ▼ 6.4%
Current assets
€81,647 ▼ 82.6%
Equity and liabilities
Equity-€331,446
Debt€658,157
Equity is negative. Debt (€658,157) exceeds the balance-sheet total (€326,710).
Key figures and ratios
EBITDA
-€295,319▼
2023 · €19,635
Cash flow
-€316,470▼
2023 · -€12,328
Interest coverage
-14.09▼
2023 · 0.78
Debt ≤ 1 year
€400,910▼
2023 · €456,854
Debt > 1 year
€257,246▼
2023 · €272,642
Income taxes
€190▼
2023 · €10,703
Staff costs
€35,224▼
2023 · €102,839
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €6,093 | - | - |
| Remuneration, social security and pensions62 | - | - | €149,870 | €158,367 | €72,969 | €102,839 | €35,224 | ▼ 65.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,652 | €6,999 | €12,477 | €19,042 | €17,999 | €19,456 | €17,531 | ▼ 9.9% |
| Other operating charges640/8 | - | - | €2,301 | €4,611 | €3,726 | €1,784 | €3,351 | ▲ 87.9% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €250 | - |
| Gross operating margin9900 | €74,926 | €179,022 | €89,017 | €226,499 | €130,133 | €124,258 | -€256,493 | - |
| Operating profit (loss)9901 | €21,921 | €67,210 | -€75,631 | €44,479 | €35,439 | €178 | -€312,850 | - |
| Financial income75/76B | - | - | €1,232 | €9,666 | €3 | €3,759 | €2 | ▼ 100.0% |
| Recurring financial income75 | - | €658 | €1,232 | €415 | €3 | €3,759 | €2 | ▼ 100.0% |
| Non-recurring financial income76B | - | - | - | €9,251 | - | - | - | - |
| Financial charges65/66B | - | - | €29,622 | €22,617 | €25,210 | €25,020 | €20,964 | ▼ 16.2% |
| Recurring financial charges65 | €4,336 | €9,527 | €29,622 | €22,617 | €25,210 | €25,020 | €20,964 | ▼ 16.2% |
| Profit (loss) for the period before taxes9903 | €17,585 | €58,341 | -€104,021 | €31,528 | €10,232 | -€21,082 | -€333,812 | ▼ 1,483% |
| Income taxes67/77 | €5,912 | €69,521 | €1,648 | - | €20,135 | €10,703 | €190 | ▼ 98.2% |
| Profit (loss) for the period9904 | €11,673 | -€11,180 | -€105,669 | €31,528 | -€9,903 | -€31,784 | -€334,001 | ▼ 951% |
| Profit (loss) for the period to be appropriated9905 | €11,673 | -€11,180 | -€105,669 | €31,528 | -€9,903 | -€31,784 | -€334,001 | ▼ 951% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €330,177 | €331,004 | €607,752 | €706,875 | €773,883 | €732,051 | €326,710 | ▼ 55.4% |
| Fixed assets21/28 | €25,970 | €26,149 | €258,313 | €262,876 | €266,452 | €261,943 | €245,063 | ▼ 6.4% |
| Tangible fixed assets22/27 | €25,970 | €26,149 | €258,313 | €262,876 | €266,452 | €261,943 | €244,412 | ▼ 6.7% |
| Land and buildings22 | - | - | €238,063 | €227,274 | €235,578 | €224,493 | €213,408 | ▼ 4.9% |
| Plant, machinery and equipment23 | - | - | €18,684 | €18,169 | €17,655 | €30,384 | €27,564 | ▼ 9.3% |
| Furniture and vehicles24 | - | - | €1,566 | €17,432 | €13,219 | €7,067 | €3,440 | ▼ 51.3% |
| Financial fixed assets28 | - | - | - | - | - | - | €651 | - |
| Current assets29/58 | €304,207 | €304,855 | €349,439 | €443,999 | €507,431 | €470,108 | €81,647 | ▼ 82.6% |
| Amounts receivable after more than one year29 | - | - | €49,814 | €78,785 | €86,200 | - | - | - |
| Other amounts receivable291 | - | - | €49,814 | €78,785 | €86,200 | - | - | - |
| Stocks and contracts in progress3 | €59,770 | €57,220 | €153,045 | €163,541 | €156,695 | €200,901 | - | - |
| Stocks30/36 | - | - | €56,645 | €145,795 | €130,775 | €140,775 | - | - |
| Contracts in progress37 | - | - | €96,400 | €17,746 | €25,920 | €60,126 | - | - |
| Amounts receivable within one year40/41 | €162,785 | €149,322 | €91,272 | €118,054 | €204,210 | €247,573 | €81,233 | ▼ 67.2% |
| Trade receivables40 | - | - | €67,546 | €97,866 | €175,689 | €168,970 | €81,233 | ▼ 51.9% |
| Other amounts receivable41 | - | - | €23,726 | €20,188 | €28,521 | €78,603 | - | - |
| Cash at bank and in hand54/58 | €1,252 | €25,192 | €50,831 | €51,940 | €37,264 | €9,401 | - | - |
| Deferred charges and accrued income490/1 | - | - | €4,477 | €31,680 | €23,063 | €12,233 | €414 | ▼ 96.6% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €330,177 | €331,004 | €607,752 | €706,875 | €773,883 | €732,051 | €326,710 | ▼ 55.4% |
| Equity10/15 | €129,563 | €118,383 | €12,714 | €44,242 | €34,339 | €2,555 | -€331,446 | - |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Contributions outside capital11 | - | - | - | - | €18,600 | - | - | - |
| Other1109/19 | - | - | - | - | €18,600 | - | - | - |
| Reserves13 | €21,860 | €99,783 | €99,783 | €99,783 | €99,783 | €99,783 | €99,783 | = |
| 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 | - | - | €97,923 | €97,923 | €97,923 | €97,923 | €97,923 | = |
| Profit (loss) carried forward14 | €89,103 | - | -€105,669 | -€74,141 | -€84,044 | -€115,828 | -€449,829 | ▼ 288% |
| Amounts payable17/49 | €200,614 | €212,621 | €595,037 | €662,633 | €739,544 | €729,496 | €658,157 | ▼ 9.8% |
| Amounts payable after more than one year17 | €6,857 | €41,399 | €330,740 | €325,457 | €301,422 | €272,642 | €257,246 | ▼ 5.6% |
| Financial debts170/4 | - | - | €330,740 | €325,457 | €301,422 | €272,642 | €257,246 | ▼ 5.6% |
| Amounts payable within one year42/48 | €193,757 | €170,066 | €264,297 | €337,176 | €438,121 | €456,854 | €400,910 | ▼ 12.2% |
| Current portion of amounts payable after more than one year42 | - | - | €20,981 | €22,953 | €24,861 | €14,582 | €29,753 | ▲ 104% |
| Financial debts43 | - | - | €30,000 | €30,000 | €30,000 | €30,000 | €32,074 | ▲ 6.9% |
| Credit institutions430/8 | - | - | €30,000 | €30,000 | €30,000 | €30,000 | €32,074 | ▲ 6.9% |
| Trade debts44 | €95,089 | €123,680 | €176,101 | €262,166 | €357,153 | €377,558 | €315,081 | ▼ 16.5% |
| Suppliers440/4 | - | - | €176,101 | €262,166 | €357,153 | €377,558 | €315,081 | ▼ 16.5% |
| Taxes, remuneration and social security45 | - | - | €37,215 | €22,057 | €26,108 | €29,619 | €23,281 | ▼ 21.4% |
| Taxes450/3 | - | - | €21,938 | €3,731 | €15,186 | €3,574 | €9,268 | ▲ 159% |
| Remuneration and social security454/9 | - | - | €15,277 | €18,326 | €10,921 | €26,045 | €14,014 | ▼ 46.2% |
| Other amounts payable47/48 | - | - | - | - | - | €5,095 | €720 | ▼ 85.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,673 | -€11,180 | -€105,669 | €31,528 | -€9,903 | -€31,784 | -€334,001 | ▼ 951% |
| + Depreciation and write-downs630 | €5,652 | €6,999 | €12,477 | €19,042 | €17,999 | €19,456 | €17,531 | ▼ 9.9% |
| Operating cash flow (approximation) | €17,325 | -€4,181 | -€93,192 | €50,570 | €8,096 | -€12,328 | -€316,470 | ▼ 2,467% |
| Investment in fixed assets (approximation) | - | -€7,177 | -€244,641 | -€23,605 | -€21,575 | -€14,948 | -€651 | ▲ 95.6% |
| Change in cash | - | €23,940 | €25,639 | €1,109 | -€14,676 | -€27,862 | - | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 29-08-2025 | 2025-00463307 | |
| 31-12-2023 | micro format | 22-10-2024 | 2024-00512704 | |
| 31-12-2022 | micro format | 04-10-2023 | 2023-00470524 | |
| 31-12-2021 | micro format | 16-11-2022 | 2022-20522310 | |
| 31-12-2020 | micro format | 15-06-2022 | 2022-20065700 | |
| 31-12-2019 | micro format | 01-02-2021 | 2021-04900194 | |
| 31-12-2018 | micro format | 24-06-2019 | 2019-22400367 | |
| 31-12-2017 | abbreviated format | 03-07-2018 | 2018-28000319 | |
| 31-12-2016 | abbreviated format | 10-08-2017 | 2017-42900535 | |
| 31-12-2015 | abbreviated format | 30-06-2016 | 2016-25500574 |
Comparable companies
These companies have the same main activity as Heating Tec: plumbing work (NACE 43221). They are comparable in size and age: total assets between €262,000 and €403,000, founded between 2008 and 2013.
| Company | Founded | Total assets | Equity | Gross margin | Net result | Financial year |
|---|---|---|---|---|---|---|
| Heating Tec Ham | 2012 | €326,710 | -€331,446 | -€256,493 | -€334,001 | 2024 |
| SV Paenen Houthalen-Helchteren | 2011 | €334,233 | €316,345 | -€17,401 | -€24,373 | 2025 |
| SANCENTRAL Antwerpen | 2013 | €307,234 | €31,779 | -€11,288 | -€11,364 | 2025 |
| DESMEDT-JACOB Heuvelland | 2011 | €386,870 | €89,775 | -€9,254 | -€37,805 | 2025 |
| Braspenning Roy Rijkevorsel | 2011 | €383,817 | -€17,479 | -€57,376 | -€76,847 | 2025 |
| GULICHER Vilvoorde | 2010 | €402,745 | €227,336 | -€78,806 | -€96,748 | 2025 |
| SVEN VERELST Ranst | 2008 | €262,101 | €140,030 | €1,071 | -€59,830 | 2025 |
They were chosen from the 3,453 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.