Checked.be
Active
BE 0546.854.821Private limited company
IsoCool
Windhoek 18 ·8790 Waregem, Belgium· 12 yrs active
Sector: Insulation installation
(43230)
Conclusion
IsoCool has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €125k and a net result of €-2k. Equity remains stable across the filed fiscal years (±1.3% per year). Its solvency ranks better than 61% of 2906 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €125k |
| Net result | €-2k |
| Better than sector | 61% |
| Active | 12 yrs |
Financial profile
52
/ 100
Mixed profile: strong on stability, weaker on profitability.
All 5 axes are computed from data Checked has read.
Health
43
Profitability
0
Solvency
64
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2014, 12 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
43
/ 100
Weak
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€5k
estimate, not credit advice
Score history
61
2022
61
2023
20
2024
43
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.55 (< 1.0)
-10
Quick ratio
Quick ratio 0.55 (< 0.6)
-5
Leverage
Debt/equity 0.92 (< 1.0)
+10
Profitability
Negatieve ROE -2%
-10
Interest coverage
Interest coverage 2.6×
+3
Profit trend
Net profit up YoY
+5
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 31-07-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
stable
Equity: stable across 4 fiscal years (±1.3%/year).
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 43, Specialised construction activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 52.2% | 43.3% | |
| Net result | €-2k | €13k | |
| Equity | €125k | €44k | |
| Gross operating margin | €13k | €39k | |
| Total assets | €240k | €115k |
€10k
+440.1%
22-25
€-2k
+80.4%
22-25
€6k
-
22-25
€240k
-8.4%
22-25
€125k
-1.6%
22-25
€-22k
-84.7%
22-25
1
-
22-25
€48k
-
22-25
€0
0.0%
22-25
€115k
-14.9%
22-25
€49k
-7.4%
22-25
€65k
-18.7%
22-25
0.55
-29.3%
22-25
0.55
-29.3%
22-25
52.2%
+7.5%
22-25
0.92
-13.5%
22-25
-1.6%
+80.1%
22-25
-0.8%
+78.6%
22-25
2.57
+359.7%
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - |
| EBITDA | €10k | €2k | €54k | €84k |
| Net profit | €-2k | €-10k | €27k | €53k |
| Cash flow | €6k | €-1k | €36k | €68k |
| Staff costs | - | - | - | €48k |
| Income taxes | €0 | €0 | €13k | €15k |
| Dividends | - | - | - | - |
| Total assets | €240k | €262k | €310k | €330k |
| Equity | €125k | €127k | €137k | €111k |
| Debt | €115k | €135k | €173k | €219k |
| of which ≤ 1y | €49k | €53k | €76k | €99k |
| of which > 1y | €65k | €81k | €96k | €112k |
| Working capital | €-22k | €-12k | €-3k | €-22k |
| Employees (FTE) | - | - | - | 1.1 |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 0.55 | 0.77 | 0.96 | 0.77 |
| Quick ratio | 0.55 | 0.77 | 0.96 | 0.77 |
| Working capital ratio | -9.3% | -4.6% | -0.9% | -6.8% |
| Solvency | 52.2% | 48.5% | 44.2% | 33.6% |
| Debt / equity | 0.92 | 1.06 | 1.26 | 1.98 |
| Long-term debt ratio | 0.52 | 0.63 | 0.70 | 1.01 |
| Interest coverage | 2.57 | 0.56 | 13.68 | 68.24 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | -0.8% | -3.9% | 8.6% | 16.2% |
| ROE | -1.6% | -8.0% | 19.4% | 48.2% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €240k | €262k | €310k | €330k |
| Fixed assets | 21/28 | €213k | €221k | €237k | €253k |
| Tangible fixed assets | 22/27 | €213k | €221k | €237k | €253k |
| Current assets | 29/58 | €27k | €41k | €73k | €76k |
| Amounts receivable within one year | 40/41 | - | €2k | €14k | €6k |
| Cash & bank | 54/58 | €27k | €39k | €59k | €67k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €240k | €262k | €310k | €330k |
| Equity | 10/15 | €125k | €127k | €137k | €111k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k |
| Reserves | 13 | €109k | €109k | €119k | €92k |
| Accumulated profits (losses) | 14 | €-2k | - | €30 | €30 |
| Amounts payable | 17/49 | €115k | €135k | €173k | €219k |
| Amounts payable after one year | 17 | €65k | €81k | €96k | €112k |
| Amounts payable within one year | 42/48 | €49k | €53k | €76k | €99k |
| Trade debts payable within one year | 44 | €2k | €4k | €11k | €2k |
| Income statement | |||||
| Gross operating margin | 9900 | €13k | €12k | €57k | €134k |
| Operating result | 9901 | €2k | €-7k | €44k | €69k |
| Financial income | 75 | €0 | €0 | €31 | €1 |
| Financial charges | 65 | €4k | €3k | €4k | €1k |
| Result before taxes | 9903 | €-2k | €-10k | €40k | €68k |
| Income taxes | 67/77 | €0 | €0 | €13k | €15k |
| Net result for the period | 9904 | €-2k | €-10k | €27k | €53k |
| Result to be appropriated | 9905 | €-2k | €-10k | €27k | €53k |
Legal Structure
| NACE primary | Insulation installation(43230) |
| Legal form | Private limited company(610) |
| Incorporation | 25-02-2014 |
| Status | Active |
| Postal code | 8790 |
Establishment units
Windhoek 18, 8790 Waregem
since 20162.261.706.636
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34040C0229/00T004 | Flanders | 453 m² | 1 · 445 m² | 12.6 m · 3 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-10k ▼138%
Net result drops to €-10k, the lowest in the series; recovery starts the following year.
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
08-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 69 days late
2019
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-07
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.
Belgian State Gazette reading coverage
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Insulation installation43230Specialised construction activities43291Buying and selling of own real estate68110
Names & trade names
| Legal nameNL | IsoCool |
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