HEATREX
ActiveHEATREX has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €632k and a net result of €234k. Equity is growing by ~19.7% per year across the filed fiscal years. Its solvency ranks better than 63% of 7692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
75
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability94▲+11
Solvency81▲+16
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45k at 30 days acceptable
Liquidity tight (current ratio 1.41 against 1.02 in 2024; short-term debt: 14.6% and cash: 4.5% of total assets), and 44.4% of the assets are financed with debt.
Credit advice for your own amount and term
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
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
55.6%
Return on assets
20.6%
Age of the figures
9 mo
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
29 d late
2023
7 d early
2022
28 d late
2021
9 d early
2020
8 d early
2019
31 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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€632k▲ 61.2%
2024 · €392k
2018: €138k
2019: €160k
2020: €174k
2021: €233k
2022: €243k
2023: €330k
2024: €392k
2018 → 2025
Total assets
€1.14M▲ 15.1%
2024 · €988k
2018: €152k
2019: €609k
2020: €689k
2021: €704k
2022: €662k
2023: €774k
2024: €988k
2018 → 2025
Net result
€234k▲ 108%
2024 · €113k
2018: €62k
2019: €22k
2020: €14k
2021: €60k
2022: €10k
2023: €87k
2024: €113k
2018 → 2025
Working capital
€68k▲ 1,561%
2024 · €4k
2018: €110k
2019: €55k
2020: €37k
2021: €51k
2022: €16k
2023: €100k
2024: €4k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€233k-€243k▲ 4.2%€330k▲ 35.7%€392k▲ 19.0%€632k▲ 61.2%
Operating result€79k-€33k▼ 58.5%€128k▲ 292%€167k▲ 30.0%€347k▲ 108%
Net result€60k-€10k▼ 83.5%€87k▲ 778%€113k▲ 29.8%€234k▲ 108%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 108% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.14M
Fixed assets
€903k▲ 17.9%
Current assets
€233k▲ 5.2%
Equity and liabilities €1.14M
Equity
€632k▲ 61.2%
Debt
€504k▼ 15.3%
The debt ratio falls from 60.3% to 44.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€410k▲
2024 · €233k
Cash flow
€297k▲
2024 · €179k
Solvency
55.6%▲
2024 · 39.7%
Current ratio
1.41▲
2024 · 1.02
Quick ratio
1.41▲
2024 · 1.02
Debt / equity
0.80▼
2024 · 1.52
ROE
37.0%▲
2024 · 28.7%
ROA
20.6%▲
2024 · 11.4%
Interest coverage
38.25▲
2024 · 30.46
Debt
€504k▼
2024 · €596k
Debt ≤ 1 year
€166k▼
2024 · €218k
Debt > 1 year
€336k▼
2024 · €376k
Income taxes
€106k▲
2024 · €48k
Staff costs
€50k▲
2024 · €0
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€988k€1.14M▲
Fixed assets21/28€766k€903k▲
Tangible fixed assets22/27€761k€898k▲
Land and buildings22€685k€708k▲
Plant, machinery and equipment23€2k€636▼
Furniture and vehicles24€75k€190k▲
Financial fixed assets28€5k€5k=
Current assets29/58€222k€233k▲
Amounts receivable after more than one year29€41k€78k▲
Other amounts receivable291€41k€78k▲
Amounts receivable within one year40/41€134k€98k▼
Trade receivables40€92k€66k▼
Other amounts receivable41€42k€32k▼
Cash at bank and in hand54/58€40k€51k▲
Deferred charges and accrued income490/1€8k€6k▼
Equity and liabilities
Total equity and liabilities10/49€988k€1.14M▲
Equity10/15€392k€632k▲
Contributions10/11€12k€19k▲
Reserves13€380k€614k▲
Distributable reserves133€380k€614k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€596k€504k▼
Amounts payable after more than one year17€376k€336k▼
Financial debts170/4€376k€336k▼
Amounts payable within one year42/48€218k€166k▼
Current portion of amounts payable after more than one year42€39k€40k▲
Trade debts44€39k€58k▲
Suppliers440/4€39k€58k▲
Advances received on contracts in progress46€0-
Taxes, remuneration and social security45€69k€66k▼
Taxes450/3€66k€60k▼
Remuneration and social security454/9€2k€6k▲
Other amounts payable47/48€71k€1k▼
Accrued charges and deferred income492/3€1k€2k▲
Income statement
Code20242025
Remuneration, social security and pensions62€0€50k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€66k€63k▼
Other operating charges640/8€6k€12k▲
Gross operating margin9900€239k€472k▲
Operating profit (loss)9901€167k€347k▲
Financial income75/76B€939€4k▲
Recurring financial income75€939€4k▲
Financial charges65/66B€8k€11k▲
Recurring financial charges65€8k€11k▲
Profit (loss) for the period before taxes9903€160k€340k▲
Income taxes67/77€48k€106k▲
Profit (loss) for the period9904€113k€234k▲
Profit (loss) for the period to be appropriated9905€113k€234k▲
Appropriation of the result
Profit (loss) to be appropriated9906€113k€234k▲
Transfer from equity791/2€50k€0▼
Transfer to equity691/2€113k€234k▲
To other reserves6921€113k€234k▲
Profit to be distributed694/7€50k€0▼
Return on contributions (dividend)694€50k€0▼
Social balance
Average headcount (FTE)90870.00.9▲
The notes to these accounts (21 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
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €234k ▲108%
Operating result €347k, net result €234k, both a record.
31-12
Financial
Equity above €500kEq €632k ▲61.2%
8 profitable years in a row build equity to €632k.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
31-12
Financial
Weakest financial yearnet €10k ▼83.5%
Net result drops to €10k, the lowest in the series; recovery starts the following year.
22-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €200kEq €233k ▲34.4%
4 profitable years in a row build equity to €233k.
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
31-12
Financial
Equity above €150kEq €160k ▲16.1%
2 profitable years in a row build equity to €160k.
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Wielsbeke · 1 establishment unit since 2015
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.
Sluisstraat 18710 WielsbekeGround area
362 m²
Parcel 37009A0788/00H005, Flanders. Linked by address, not a title deed.
1 establishment unit
HEATREX
since 20152.249.809.090
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37009A0788/00H005 | Flanders | 362 m² | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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
A.L.L.
BE 0465.649.884
Merelbeke-Melle · Eq €632k
JACO
BE 0830.085.715
Halen · Eq €632k
Elektriciteitswerken Feys
BE 0438.353.094
Oostkamp · Eq €633k
VANO Security
BE 0408.075.436
Mouscron · Eq €631k
VECTURA
BE 0765.237.948
Flémalle · Eq €631k
Of 22,822 companies in sector 43211 we hold annual accounts for 10,324. 5,894 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded23-12-2015
Fiscal year end31-12
Activities, NACEBEL
25110Manufacture of metal structures and parts of structures
43211General electrical installation work
64210Activities of holding companies
25530Machining of metals
25999Manufacture of fabricated metal products, except machinery and equipment
33140Repair and maintenance of electrical equipment
43212Electrical installation work in industrial facilities
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.