LINACOLD
ActiveSummary
LINACOLD has been active since 2010 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.9m and a net result of €522,388. Equity has been growing by about 15% per year since 2018. Its solvency ranks better than 66% of 9,895 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 11-05-2010 Normal situation
- Activity
- Installation of electric heating, air conditioning, cooling and ventilation NACE 43222and 3 others
- Joint committee
- 149.01 Paritair Subcomité voor de elektriciens: installatie en distributie · annual accounts 2025
- Establishment unit
- 2.189.588.027 2630 Aartselaar, since 11-05-2010
- Financial year end
- 31 December
- Peppol
- Reachable since 03-12-2024
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.2%
- Gross margin
- €1.8m
- ▲ 55.4%
- Turnover
- ≈ €5.0m
- estimated
- Profit
- €522,388
- ▲ 197%
- Equity
- €1.9m
- ▼ 5.4%
- Total assets
- €3.2m
- ▲ 1.9%
- Employees on 31-12-2025
- 11
- ▼ 26.7%
Score breakdownraises riskLiquidity: current ratio 2.37, cash €47,562lowers riskFounded in 2010Figures for financial year 2025 (filed on 20-06-2026)Profit of €522,388 (financial year 2025)Show the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, small). It does better than 77% of them on solvency, 26% on liquidity, 88% on profitability and 21% on growth.
The bankruptcy probability was computed on 01-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 5 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 20-06-2026 at the NBB all 15 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 3.7 times that of 2024 and the highest since 2021. It is a recovery after the fall in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
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).
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 9 | 10 | 10 | 15 | 11 |
| full-time | 9 | 10 | 10 | 15 | 11 |
| in full-time equivalents | 9 | 10 | 10 | 15 | 11 |
| Average over the year, in full-time equivalents | 8.2 | 9.7 | 9.7 | 12.5 | 13.3 |
| On a permanent contract | 8 | 10 | 10 | 15 | 11 |
| Joined | 7 | 6 | 2 | 5 | 2 |
| Left | 7 | 5 | 2 | 0 | 5 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €190,343 | €151,361 | €111,806 | €71,668 | €30,939 |
| Pledge on the business | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,036 | €16,379 | €16,996 | €12,916 | €5,374 |
| Financial fixed assets | - | €400 | - | - | - |
| Depreciation and write-downs of the year | €8,242 | €8,332 | €10,198 | €13,429 | €15,870 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 to 2025 · 3 entries · €3,795 awarded · €3,795 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €798 | €1,995 |
| 2024 | 1 | €1,197 | €0 |
| 2023 | 1 | €1,800 | €1,800 |
Comparable companies
These companies have the same main activity as LINACOLD: installation of electric heating, air conditioning, cooling and ventilation (NACE 43222). They are comparable in size and age: total assets between €2.9m and €4.6m, founded between 2005 and 2012.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| LINACOLD Aartselaar | 2010 | €3.2m | €1.9m | €1.8m | €0.5m | 13.3 | 2025 |
| JAN VRIENDS Brecht | 2012 | €3.0m | €1.6m | €1.5m | €0.3m | 12.3 | 2026 |
| Jeroen Vrints Brecht | 2007 | €2.9m | €2.7m | €2.1m | €0.7m | 15.7 | 2025 |
| ENERGIECONCEPTEN Arendonk | 2012 | €3.3m | €0.7m | €1.6m | -€0.04m | 18.6 | 2025 |
| WOARM Brecht | 2005 | €3.3m | €0.4m | €1.2m | €0.2m | 12.6 | 2025 |
| JM AIRCO Zandhoven | 2008 | €4.6m | €1.3m | €1.7m | €0.1m | 17.5 | 2025 |
| AENDEKERK HANS Bree | 2011 | €3.5m | €1.9m | €1.8m | €0.1m | 16.3 | 2025 |
They were chosen from the 5,585 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 17,811 companies had the same profile as LINACOLD has now. Two years later, 0.3% had gone bankrupt and 96.5% were still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of LINACOLD itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 17,811 companies, not a prediction for LINACOLD. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €0.5m | €0.7m | €0.7m | €1.0m | €1.1m | ▲ 11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.01m | €0.009m | €0.008m | €0.008m | €0.01m | €0.01m | €0.02m | ▲ 18.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €0.02m | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.004m | €0.007m | €0.005m | €0.005m | €0.005m | ▲ 1.4% |
| Gross operating margin9900 | €0.7m | €1.5m | €0.7m | €0.7m | €1.1m | €1.2m | €1.2m | €1.8m | ▲ 55.4% |
| Operating profit (loss)9901 | €0.09m | €0.8m | €0.08m | €0.2m | €0.4m | €0.5m | €0.2m | €0.7m | ▲ 269% |
| Financial income75/76B | - | - | - | €0.04m | €0.07m | €0.06m | €0.08m | €0.06m | ▼ 26.5% |
| Recurring financial income75 | €0.007m | €0.008m | €0.02m | €0.04m | €0.07m | €0.06m | €0.08m | €0.06m | ▼ 26.5% |
| Financial charges65/66B | - | - | - | €0.003m | €0.004m | €0.004m | €0.003m | €0.002m | ▼ 43.5% |
| Recurring financial charges65 | €330 | €319 | €0.003m | €0.003m | €0.004m | €0.004m | €0.003m | €0.002m | ▼ 43.5% |
| Profit (loss) for the period before taxes9903 | €0.1m | €0.8m | €0.1m | €0.2m | €0.5m | €0.6m | €0.3m | €0.8m | ▲ 189% |
| Income taxes67/77 | €0.05m | €0.3m | €0.04m | €0.07m | €0.2m | €0.2m | €0.1m | €0.3m | ▲ 174% |
| Profit (loss) for the period9904 | €0.05m | €0.5m | €0.07m | €0.1m | €0.3m | €0.4m | €0.2m | €0.5m | ▲ 197% |
| Profit (loss) for the period to be appropriated9905 | €0.1m | €0.5m | €0.07m | €0.1m | €0.3m | €0.4m | €0.2m | €0.5m | ▲ 197% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.7m | €1.5m | €1.6m | €1.7m | €2.2m | €2.9m | €3.2m | €3.2m | ▲ 1.9% |
| Fixed assets21/28 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.03m | €0.03m | €0.02m | ▼ 34.7% |
| Tangible fixed assets22/27 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.03m | €0.03m | €0.02m | ▼ 35.2% |
| Plant, machinery and equipment23 | - | - | - | €0.01m | €0.01m | €0.02m | €0.03m | €0.02m | ▼ 33.2% |
| Furniture and vehicles24 | - | - | - | €0.002m | €0.009m | €0.006m | €0.004m | €0.002m | ▼ 42.5% |
| Other tangible fixed assets26 | - | - | - | €0.001m | €0.001m | €0.001m | €286 | - | - |
| Financial fixed assets28 | - | - | - | - | €400 | €400 | €400 | €400 | = |
| Current assets29/58 | €0.7m | €1.4m | €1.6m | €1.7m | €2.2m | €2.9m | €3.2m | €3.2m | ▲ 2.3% |
| Stocks and contracts in progress3 | - | - | - | - | - | €0.09m | €0.09m | €0.4m | ▲ 382% |
| Stocks30/36 | - | - | - | - | - | €0.09m | €0.09m | €0.4m | ▲ 382% |
| Amounts receivable within one year40/41 | €0.5m | €1.1m | €0.8m | €1.6m | €2.1m | €2.7m | €3.0m | €2.7m | ▼ 9.8% |
| Trade receivables40 | - | - | - | €0.6m | €0.8m | €1.0m | €1.1m | €1.5m | ▲ 40.4% |
| Other amounts receivable41 | - | - | - | €1.0m | €1.3m | €1.7m | €2.0m | €1.2m | ▼ 37.0% |
| Cash at bank and in hand54/58 | €0.2m | €0.4m | €0.8m | €0.1m | €0.1m | €0.07m | €0.02m | €0.05m | ▲ 110% |
| Deferred charges and accrued income490/1 | - | - | - | €0.008m | €0.008m | €0.003m | €0.002m | €0.001m | ▼ 15.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.7m | €1.5m | €1.6m | €1.7m | €2.2m | €2.9m | €3.2m | €3.2m | ▲ 1.9% |
| Equity10/15 | €0.6m | €1.1m | €1.1m | €1.3m | €1.6m | €1.8m | €2.0m | €1.9m | ▼ 5.4% |
| Contributions10/11 | €0.006m | €0.006m | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Reserves13 | €0.6m | €1.0m | €1.1m | €1.2m | €1.6m | €1.8m | €2.0m | €1.9m | ▼ 5.4% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Distributable reserves133 | - | - | - | €1.2m | €1.6m | €1.8m | €2.0m | €1.9m | ▼ 5.4% |
| Amounts payable17/49 | €0.2m | €0.4m | €0.5m | €0.4m | €0.6m | €1.1m | €1.2m | €1.4m | ▲ 14.0% |
| Amounts payable after more than one year17 | - | - | - | €0.2m | €0.1m | €0.07m | €0.03m | - | - |
| Financial debts170/4 | - | - | - | €0.2m | €0.1m | €0.07m | €0.03m | - | - |
| Amounts payable within one year42/48 | €0.2m | €0.4m | €0.5m | €0.3m | €0.5m | €1.1m | €1.2m | €1.4m | ▲ 17.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.03m | ▼ 24.0% |
| Financial debts43 | - | - | - | €169 | - | - | - | €0.1m | - |
| Other loans439 | - | - | - | €169 | - | - | - | €0.1m | - |
| Trade debts44 | €0.04m | €0.05m | €0.09m | €0.1m | €0.2m | €0.2m | €0.4m | €0.4m | ▲ 8.0% |
| Suppliers440/4 | - | - | - | €0.1m | €0.2m | €0.2m | €0.4m | €0.4m | ▲ 8.0% |
| Advances received on contracts in progress46 | - | - | - | - | - | €0.4m | €0.4m | €0.4m | = |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.3m | €0.4m | €0.3m | €0.4m | ▲ 22.3% |
| Taxes450/3 | - | - | - | €0.1m | €0.2m | €0.4m | €0.3m | €0.4m | ▲ 27.7% |
| Remuneration and social security454/9 | - | - | - | €0.03m | €0.04m | €0.06m | €0.05m | €0.05m | ▼ 6.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €0.001m | €0.004m | €0.003m | ▼ 24.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €47,578 | €483,349 | €66,318 | €129,074 | €324,831 | €366,223 | €175,683 | €522,388 | ▲ 197% |
| + Depreciation and write-downs630 | €18,205 | €9,711 | €8,842 | €8,242 | €8,332 | €10,198 | €13,429 | €15,870 | ▲ 18.2% |
| Operating cash flow (approximation) | €65,784 | €493,060 | €75,160 | €137,316 | €333,163 | €376,421 | €189,111 | €538,257 | ▲ 185% |
| Investment in fixed assets (approximation) | - | -€8,998 | -€13,757 | -€3,036 | -€16,779 | -€16,996 | -€12,916 | -€5,374 | ▲ 58.4% |
| Change in cash | - | €196,497 | €399,900 | -€663,323 | €133 | -€32,732 | -€47,311 | €24,901 | - |
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 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 20-06-2026 | 2026-00179066 | NBB |
| 31-12-2024 | abbreviated format | 29-08-2025 | 2025-00429743 | |
| 31-12-2023 | abbreviated format | 27-06-2024 | 2024-00174612 | |
| 31-12-2022 | abbreviated format | 19-07-2023 | 2023-00249788 | |
| 31-12-2021 | abbreviated format | 27-07-2022 | 2022-20229004 | |
| 31-12-2020 | abbreviated format | 06-08-2021 | 2021-46700038 | |
| 31-12-2019 | abbreviated format | 29-10-2020 | 2020-65400123 | |
| 31-12-2018 | abbreviated format | 31-08-2019 | 2019-60500175 | |
| 31-12-2017 | abbreviated format | 29-06-2018 | 2018-27800330 | |
| 31-12-2016 | abbreviated format | 28-09-2017 | 2017-64100136 |
Board & ownership
Directors
Owners and capital
Owners
Articles of association
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Helft overdrager en helft koper(s) naar evenredigheid aantal als meer dan één koper, elke overdracht onder levenden,ten bezwarende of…”
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Één of meerdere vereffenaars aanduiden,bevoegdheden omlijnen,vergoeding bepalen, indien enkel schulden jegens aandeelhouders en alle…”
Articles of association, deed of 15-01-2024 (in Dutch)
Network & group
LINACOLD shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of LINACOLD. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
15-01
Gazette deed
Appointment: Ioan ROTEA (director)Capital conversion · Declaration · Power of attorney16 points ▸
- General meeting, 13-12-2023
- Other provision, “Wetboek van vennootschappen en verenigingen, aanpassing statuten aan WVV met behoud rechtsvorm” (deed in Dutch)
- Capital conversion, “van rechtswege”, EUR (deed in Dutch)
- Other provision, “opheffing statutair onbeschikbare eigen vermogensrekening, opheffing” (deed in Dutch)
- Declaration, “voorlezing en toelichting door notaris, terugvordering onrechtmatige uitkering ongeacht goede of kwade trouw” (deed in Dutch)
- Other provision, 12400, “vermindering niet-opgevraagde inbrengen door vrijstelling volstortingsplicht” (deed in Dutch)
- Declaration, “naleving uitkeringsregels voor vrijstelling, wettelijke vereisten voldaan” (deed in Dutch)
- Power of attorney
- Other provision, “alleen Gewest in statuten, zeteladres buiten statuten” (deed in Dutch)
- Amendment of the articles
- Share issue, “gelijk recht per aandeel, inbrengen” (deed in Dutch)
- General meeting, “statuten artikelsgewijs goedgekeurd, eenparigheid van stemmen” (deed in Dutch)
- The act holds 4 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0826.141.575
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11372A0108/00M000 | Flanders | 1.7 ha | 1 · 3,283 m² | 11.8 m · 2 |