''HYDROTHAN''
ActiveSummary
''HYDROTHAN'' has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €128,601 and a net result of -€70,684. Equity is shrinking by ~13.6% per year across the filed fiscal years. Its solvency ranks better than 34% of 28051 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency57▼-10
Growth32=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.35 against 0.48 in 2024; short-term debt: 67.7% and cash: 2.4% of total assets), and 67.7% of the assets are financed with debt.
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Signals
Six 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
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
32.3%
Return on assets
-17.8%
Age of the figures
15 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€70,684
neutral · Filed after the deadline
The financial year that closed on 01-07-2025 was due by 01-02-2026 and was filed on 05-02-2026, 4 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
4 d late
2024
4 d late
2023
25 d late
2022
27 d late
2021
29 d late
2020
28 d late
2019
28 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 21 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 01-07-2026 and is due by 01-02-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
01-07-2026 close26-09-2026 today01-02-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€70,684▲ 3.2%
2024 · -€73,042
Working capital
-€174,150▼ 20.6%
2024 · -€144,348
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€44,746-€55,595-€70,729▼ 27.2%-€72,944▼ 3.1%-€70,949▲ 2.7%
Net result€37,181-€55,827-€70,987▼ 27.2%-€73,042▼ 2.9%-€70,684▲ 3.2%
Equity€399,141▲ 10.3%€343,314▼ 14.0%€272,327▼ 20.7%€199,285▼ 26.8%€128,601▼ 35.5%
Total assets€750,485▼ 10.7%€625,416▼ 16.7%€551,698▼ 11.8%€475,429▼ 13.8%€397,744▼ 16.3%
Debt€351,344▼ 26.5%€282,102▼ 19.7%€279,370▼ 1.0%€276,144▼ 1.2%€269,144▼ 2.5%
Working capital-€56,043▲ 61.8%-€86,795▼ 54.9%-€112,877▼ 30.0%-€144,348▼ 27.9%-€174,150▼ 20.6%
Staff (FTE)2.8=2.9▲ 3.6%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €70,949 in 2025 against €72,944 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €397,744
Fixed assets
€302,751 ▼ 11.9%
Current assets
€94,993 ▼ 27.9%
Equity and liabilities €397,744
Equity
€128,601 ▼ 35.5%
Debt
€269,144 ▼ 2.5%
Debt's share of the balance-sheet total rises from 58.1% to 67.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€30,067▲
2024 · -€31,372
Cash flow
-€29,802▲
2024 · -€31,471
Current ratio
0.35▼
2024 · 0.48
Debt to equity
2.09▲
2024 · 1.39
ROE
-55.0%▼
2024 · -36.7%
ROA
-17.8%▼
2024 · -15.4%
Interest coverage
-89.55▲
2024 · -111.47
Debt ≤ 1 year
€269,144▼
2024 · €276,144
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €71,248 | -€4,098 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €60,911 | €54,071 | €44,942 | €41,572 | €40,882 | ▼ 1.7% |
| Other operating charges640/8 | - | €5,608 | €10,244 | €10,652 | €11,068 | ▲ 3.9% |
| Non-recurring operating charges66A | - | - | €1,300 | - | - | - |
| Gross operating margin9900 | €259,727 | €75,332 | -€18,341 | -€20,720 | -€18,998 | ▲ 8.3% |
| Operating profit (loss)9901 | €44,746 | -€55,595 | -€70,729 | -€72,944 | -€70,949 | ▲ 2.7% |
| Financial income75/76B | - | €309 | €4 | €183 | €600 | ▲ 228% |
| Recurring financial income75 | €161 | €309 | €4 | €183 | €600 | ▲ 228% |
| Financial charges65/66B | - | €540 | €262 | €281 | €336 | ▲ 19.3% |
| Recurring financial charges65 | €2,033 | €540 | €262 | €281 | €336 | ▲ 19.3% |
| Profit (loss) for the period before taxes9903 | €42,874 | -€55,827 | -€70,987 | -€73,042 | -€70,684 | ▲ 3.2% |
| Income taxes67/77 | €5,693 | - | - | - | - | - |
| Profit (loss) for the period9904 | €37,181 | -€55,827 | -€70,987 | -€73,042 | -€70,684 | ▲ 3.2% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €47,200 | - |
| Profit (loss) for the period to be appropriated9905 | €37,181 | -€55,827 | -€70,987 | -€73,042 | -€23,484 | ▲ 67.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €750,485 | €625,416 | €551,698 | €475,429 | €397,744 | ▼ 16.3% |
| Fixed assets21/28 | €484,217 | €430,147 | €385,204 | €343,633 | €302,751 | ▼ 11.9% |
| Tangible fixed assets22/27 | €484,217 | €430,147 | €385,204 | €343,633 | €302,751 | ▼ 11.9% |
| Land and buildings22 | - | €323,010 | €302,709 | €282,409 | €262,108 | ▼ 7.2% |
| Plant, machinery and equipment23 | - | €92,534 | €71,069 | €50,374 | €29,793 | ▼ 40.9% |
| Furniture and vehicles24 | - | €14,603 | €11,426 | €10,850 | €10,850 | = |
| Current assets29/58 | €266,268 | €195,269 | €166,493 | €131,796 | €94,993 | ▼ 27.9% |
| Amounts receivable within one year40/41 | €79,416 | €17,529 | €16,074 | €2,739 | €2,622 | ▼ 4.3% |
| Trade receivables40 | - | €1,393 | - | €1,665 | €1,548 | ▼ 7.0% |
| Other amounts receivable41 | - | €16,136 | €16,074 | €1,074 | €1,074 | = |
| Current investments50/53 | €135,366 | €135,367 | €117,368 | €105,051 | €82,632 | ▼ 21.3% |
| Cash at bank and in hand54/58 | €51,486 | €42,373 | €32,545 | €24,006 | €9,740 | ▼ 59.4% |
| Deferred charges and accrued income490/1 | - | - | €506 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €750,485 | €625,416 | €551,698 | €475,429 | €397,744 | ▼ 16.3% |
| Equity10/15 | €399,141 | €343,314 | €272,327 | €199,285 | €128,601 | ▼ 35.5% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €380,541 | €324,714 | €253,727 | €180,685 | €110,001 | ▼ 39.1% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Tax-exempt reserves132 | - | €47,200 | €47,200 | €47,200 | - | - |
| Distributable reserves133 | - | €275,654 | €204,667 | €133,485 | €110,001 | ▼ 17.6% |
| Amounts payable17/49 | €351,344 | €282,102 | €279,370 | €276,144 | €269,144 | ▼ 2.5% |
| Amounts payable within one year42/48 | €322,311 | €282,064 | €279,370 | €276,144 | €269,144 | ▼ 2.5% |
| Trade debts44 | €8,385 | €81 | €1,156 | €2,420 | €5,496 | ▲ 127% |
| Suppliers440/4 | - | €81 | €1,156 | €2,420 | €5,496 | ▲ 127% |
| Advances received on contracts in progress46 | - | €7,877 | €11,413 | €7,877 | €7,877 | = |
| Taxes, remuneration and social security45 | - | €12,003 | €1,710 | €756 | €1,680 | ▲ 122% |
| Taxes450/3 | - | €7,906 | €1,710 | €756 | €1,680 | ▲ 122% |
| Remuneration and social security454/9 | - | €4,098 | - | - | - | - |
| Other amounts payable47/48 | - | €262,103 | €265,091 | €265,091 | €254,091 | ▼ 4.1% |
| Accrued charges and deferred income492/3 | - | €37 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €37,181 | -€55,827 | -€70,987 | -€73,042 | -€70,684 | ▲ 3.2% |
| + Depreciation and write-downs630 | €60,911 | €54,071 | €44,942 | €41,572 | €40,882 | ▼ 1.7% |
| Operating cash flow (approximation) | €98,092 | -€1,756 | -€26,045 | -€31,471 | -€29,802 | ▲ 5.3% |
| Investment in fixed assets (approximation) | - | -€0 | €0 | €0 | €0 | - |
| Change in cash | - | -€9,113 | -€9,828 | -€8,539 | -€14,266 | ▼ 67.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
05-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 4 days late
2025
05-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 4 days late
2024
01-07
Financial
Weakest financial yearnet -€73,042
Net result drops to -€73,042, the lowest in the series; recovery starts the following year.
26-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 25 days late
2023
28-02
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 27 days late
2022
02-03
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 29 days late
2021
01-07
Financial
Back to profitnet €37,181
Net result €37,181 after one loss-making year.
01-03
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 28 days late
2020
29-02
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 28 days late
2019
26-02
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 25 days late
2018
27-02
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 26 days late
2017
28-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 27 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
8 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, Wavre · 1 establishment unit since 1995
Ground area
2,500 m²
Building footprint
1,146 m²
Volume, LiDAR
6,974 m³
Parcel 25006A0145/00K002, Wallonia · tallest building 6.9 m, ±2 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
HYDROTHAN
since 19952.075.027.166
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25006A0145/00K002 | Wallonia | 2,500 m² | 1 · 1,146 m² | 6.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
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
ISOL-HOME
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ISOLATIE VD
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GDR-Technics
BE 0791.478.626
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ISOBEL
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HOUSEC
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Braine-le-Comte · Eq €127,541
Of 4,269 companies in sector 43230 we hold annual accounts for 1,239. 1,038 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded26-10-1995
Fiscal year end01-07
Activities, NACEBEL 2025
43230Insulation installation
43240Other construction installation
47521Retail sale of hardware, building materials, paint and glass (general range)
Contact
E-mail
e.michelet@hydrotec.be
Phone
010/84.02.66
Fax
010/84.59.10
Website
www.hydrothan.comWavre
Phone
010/84.60.89Wavre
Scores and ratios are computed by Checked and are not a credit decision.