HELFATHERM
ActiveSummary
HELFATHERM has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €148k and a net result of €73k. Equity is growing by ~7.7% per year across the filed fiscal years. Its solvency ranks better than 46% of 27786 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
76
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability96▲+15
Solvency69▲+9
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days acceptable
Liquidity ample (current ratio 1.54 against 1.29 in 2024; short-term debt: 31.3% and cash: 21.9% of total assets), but 56% 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 · 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
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
44%
Return on assets
21.6%
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 28-05-2026, 64 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
64 d early
2024
140 d early
2023
145 d early
2022
7 d early
2021
6 d early
2020
46 d late
2019
33 d late
← before the deadline
after the deadline →
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€148k▲ 65.7%
2024 · €89k
2018: €82k
2019: €87k
2020: €95k
2021: €107k
2022: €111k
2023: €95k
2024: €89k
2018 → 2025
Total assets
€337k▲ 30.3%
2024 · €258k
2018: €223k
2019: €243k
2020: €220k
2021: €227k
2022: €235k
2023: €256k
2024: €258k
2018 → 2025
Net result
€73k▲ 179%
2024 · €26k
2018: €8k
2019: €5k
2020: €8k
2021: €12k
2022: €8k
2023: €23k
2024: €26k
2018 → 2025
Working capital
€57k▲ 63.5%
2024 · €35k
2018: €89k
2019: €86k
2020: €102k
2021: €108k
2022: €89k
2023: €61k
2024: €35k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€107k-€111k▲ 3.2%€95k▼ 14.0%€89k▼ 6.3%€148k▲ 65.7%
Operating result€215-€7k▲ 3,213%€35k▲ 387%€40k▲ 15.5%€102k▲ 154%
Net result€12k-€8k▼ 28.9%€23k▲ 176%€26k▲ 12.2%€73k▲ 179%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 154% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €337k
Fixed assets
€174k ▲ 68.3%
Current assets
€162k ▲ 4.9%
Equity and liabilities €337k
Equity
€148k ▲ 65.7%
Provisions
€8k
Debt
€181k ▲ 7.1%
Debt's share of the balance-sheet total falls from 65.4% to 53.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€130k▲
2024 · €61k
Cash flow
€101k▲
2024 · €47k
Current ratio
1.54▲
2024 · 1.29
Quick ratio
1.48▲
2024 · 1.25
Debt to equity
1.22▼
2024 · 1.89
ROE
49.0%▲
2024 · 29.1%
ROA
21.6%▲
2024 · 10.1%
Interest coverage
28.93▲
2024 · 22.75
Debt ≤ 1 year
€105k▼
2024 · €120k
Debt > 1 year
€73k▲
2024 · €46k
Income taxes
€18k▲
2024 · €12k
Staff costs
€30k▲
2024 · €29k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 61 lines
Balance sheet
Code20242025
Assets
Total assets20/58€258k€337k▲
Fixed assets21/28€104k€174k▲
Tangible fixed assets22/27€104k€174k▲
Plant, machinery and equipment23€62k€83k▲
Furniture and vehicles24€31k€91k▲
Leasing and similar rights25€10k-
Current assets29/58€155k€162k▲
Stocks and contracts in progress3€5k€7k▲
Stocks30/36€5k€7k▲
Amounts receivable within one year40/41€49k€78k▲
Trade receivables40€26k€63k▲
Other amounts receivable41€23k€15k▼
Cash at bank and in hand54/58€97k€74k▼
Deferred charges and accrued income490/1€4k€4k▼
Equity and liabilities
Total equity and liabilities10/49€258k€337k▲
Equity10/15€89k€148k▲
Contributions10/11€12k€12k=
Reserves13€76k€135k▲
Tax-exempt reserves132-€23k
Distributable reserves133€76k€113k▲
Profit (loss) carried forward14€512€100▼
Provisions and deferred taxes16-€8k
Deferred taxes168-€8k
Amounts payable17/49€169k€181k▲
Amounts payable after more than one year17€46k€73k▲
Financial debts170/4€46k€73k▲
Amounts payable within one year42/48€120k€105k▼
Current portion of amounts payable after more than one year42€27k€18k▼
Trade debts44€39k€33k▼
Suppliers440/4€39k€33k▼
Advances received on contracts in progress46€7k€12k▲
Taxes, remuneration and social security45€15k€18k▲
Taxes450/3€7k€12k▲
Remuneration and social security454/9€8k€7k▼
Other amounts payable47/48€32k€24k▼
Accrued charges and deferred income492/3€3k€3k▲
Income statement
Code20242025
Remuneration, social security and pensions62€29k€30k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21k€28k▲
Other operating charges640/8€3k€2k▼
Gross operating margin9900€92k€161k▲
Operating profit (loss)9901€40k€102k▲
Financial income75/76B€407€878▲
Recurring financial income75€407€878▲
Financial charges65/66B€3k€4k▲
Recurring financial charges65€3k€4k▲
Profit (loss) for the period before taxes9903€38k€98k▲
Transfer from deferred taxes780-€1k
Transfer to deferred taxes680-€9k
Income taxes67/77€12k€18k▲
Profit (loss) for the period9904€26k€73k▲
Transfer from tax-exempt reserves789-€4k
Transfer to tax-exempt reserves689-€27k
Profit (loss) for the period to be appropriated9905€26k€50k▲
Appropriation of the result
Profit (loss) to be appropriated9906€27k€51k▲
Profit (loss) brought forward from the previous period14P€1k€512▼
Transfer from equity791/2€31k€8k▼
Transfer to equity691/2€26k€45k▲
To other reserves6921€26k€45k▲
Profit to be distributed694/7€32k€14k▼
Return on contributions (dividend)694€32k€9k▼
Directors or managers695-€5k
The notes to these accounts (9 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
28-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €73k ▲179%
Operating result €102k, net result €73k, both a record.
31-12
Financial
Equity above €100kEq €148k ▲65.7%
8 profitable years in a row build equity to €148k.
13-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
08-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €100kEq €107k ▲12.4%
4 profitable years in a row build equity to €107k.
15-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 46 days late
2020
02-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 33 days late
2019
31-12
Financial
Weakest financial yearnet €5k ▼35.8%
Net result drops to €5k, the lowest in the series; recovery starts the following year.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
24-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
03-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Kelmis · 1 establishment unit since 2004
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 Bau 41A4720 KelmisGround area
1,417 m²
Building footprint
136 m²
Volume, LiDAR
1,046 m³
Parcel 63040A0994/00R000, Wallonia · tallest building 9.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Helfatherm
since 20042.137.237.721
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63040A0994/00R000 | Wallonia | 1,417 m² | 1 · 136 m² | 9.8 m · 3 fl. |
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.
Recognitions · licences · registrations
Recognised contractor
3 categoriesHELFATHERM SRL30690
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BN Technieken
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Of 9,530 companies in sector 43222 we hold annual accounts for 5,662. 4,907 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded08-04-2004
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
25530Machining of metals
42911Civil engineering
42919Civil engineering
43230Insulation installation
43990Other specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 21 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.