Equity
€23,191 from €51,001 in 2018
Equity fell by 55% in 7 years.
MODISOL
Lifetime
16 annual accounts with figures on one time axispeak €44,427 (2010)
€15,590▼ 4.9%
lowest -€28,056 (2022)
€105▼ 85.9%
peak €51,001 (2018)
€23,191▲ 0.5%
€177,791▼ 1.4%
peak 0 FTE (2023)
-not published
Board1 name since 2022
1 directorNico Vantilt
Documentsfilings and deeds
05-01-202626 days before the deadline
2025micro format
Result from €747 to €105
Key points
from the 2025 annual accountsChecked score
69
Healthy
Financially stronger than 26% of micro companies in specialised construction (NACE 43)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.7%
01-2025: 1.0%▲ +0.3 percentage points vs 12-2024highest value
02-2025: 0.6%▼ -0.4 percentage points vs 01-2025
03-2025: 0.6%● unchanged vs 02-2025
04-2025: 0.6%● unchanged vs 03-2025
05-2025: 0.6%● unchanged vs 04-2025
06-2025: 0.6%● unchanged vs 05-2025
07-2025: 0.6%● unchanged vs 06-2025
08-2025: 0.6%● unchanged vs 07-2025
09-2025: 0.6%● unchanged vs 08-2025
10-2025: 0.7%▲ +0.1 percentage points vs 09-2025
11-2025: 0.6%▼ -0.1 percentage points vs 10-2025
12-2025: 0.6%● unchanged vs 11-2025
01-2026: 0.7%▲ +0.1 percentage points vs 12-2025
02-2026: 0.6%▼ -0.1 percentage points vs 01-2026
03-2026: 0.6%● unchanged vs 02-2026
04-2026: 0.6%● unchanged vs 03-2026
05-2026: 0.6%● unchanged vs 04-2026
06-2026: 0.6%● unchanged vs 05-2026
07-2026: 0.6%● unchanged vs 06-2026
08-2026: 0.6%● unchanged vs 07-2026
09-2026: 0.6%● unchanged vs 08-2026
10-2026: 0.6%● unchanged vs 09-2026
11-2026: 0.6%● unchanged vs 10-2026lowest value
Financial strengthWeak
Score breakdown
raises risk
Sector: Specialised construction activities (NACE 43)
Liquidity: current ratio 1.17, cash €850
lowers risk
Size: total assets €200,983
Founded in 2008
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, micro). It does better than 15% of them on solvency, 32% on liquidity, 21% on profitability and 36% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 30-06-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 4,508 companies had the same profile as MODISOL has now. Each dot stands for 12 companies, two years later.
96.9%
were still trading
1.6%
stopped another way
1.4%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MODISOL itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,447 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 4,508 companies, not a prediction for MODISOL. 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.
Credit verdict
Credit of up to €1,500 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.17 (1.21 in 2024), below the usual 1.5. Short-term debt is 22.7% and cash 0.4% of total assets. 88.5% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 35125 sector peers (2025).
NBB · sector comparisonPosition among 35125 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 05-01-2026, 26 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
26 days early
2024
42 days early
2023
26 days early
2022
39 days early
2021
41 days early
2020
39 days early
2019
32 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 35 days before 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)
neutral · Next filing not due yet
The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today. The company usually files around 23 December (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-06-2026 year end09-11-2026 today31-01-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0899406665
Resignation: Nico Vantilt (manager)
Reappointment: Nico Vantilt (director) · Legal-form conversion: from private limited company (pre-2019) to private limited company · Gazette deed
First establishment
Nvi isolatiewerken, Hortensiastraat 22B, Houthalen-Helchteren
Incorporation
published on 31-07-2008 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MODISOL Houthalen-Helchteren | €200,983 | €15,590 | 11.5% | - |
| JJ KOELING Puurs-Sint-Amands | €204,432 | €17,753 | 3.4% | - |
| SOETAERS Alken | €242,616 | €17,069 | 75.1% | - |
| ALB WONINGBOUW Leopoldsburg | €176,727 | €26,344 | 47.9% | - |
| Het Klussertje Beernem | €202,323 | €20,940 | 42.4% | - |
| CALISKAN 68 Schaerbeek | €186,367 | €10,252 | 79.9% | - |
| ISOL 2.vert Remicourt | €192,765 | €18,844 | 50.3% | - |
These companies have the same main activity as MODISOL: insulation installation (NACE 43230). They are comparable in size and age: total assets between €177,000 and €243,000, founded between 2007 and 2012.
Official details
Source: KBO- Status
- Active since 15-07-2008Normal situation
- Activity
- Insulation installationNACE 43230and 3 others
- Establishment unit
- 2.172.821.2793530 Houthalen-Helchteren, since 22-07-2008
- Financial year end
- 30 June
- Peppol
- Reachable since 03-12-2025
Annual accounts to 30-06-2025
- ≈ €150,000estimated
- €200,983▼ 1.2%
- Filing
- Filed on 05-01-2026, 26 days before the end of the filing period
Insights on MODISOL
MODISOL files the micro format. That format states no turnover. The gross margin fell from €44,427 in 2010 to €15,590 in 2025.
The balance sheet grew most in 2014 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MODISOL
- What is the company number of MODISOL?
- The company number of MODISOL is 0899.406.665. The VAT number is the same number with BE in front: BE 0899.406.665.
- Where is MODISOL based?
- The registered office is at Hortensiastraat 22, 3530 Houthalen-Helchteren.Company details
- What does MODISOL do?
- According to the KBO register, the main activity is insulation installation (NACE 43230).
- What is the legal form of MODISOL?
- MODISOL is a private limited company (BV).
- When was MODISOL founded?
- MODISOL was founded on 15-07-2008.
- Is MODISOL still active?
- Yes, MODISOL is an active enterprise in the KBO register.
- What is the turnover of MODISOL?
- The turnover in financial year 2025 is ≈ €150,000. This figure is estimated from the gross margin of €15,590 and 32 comparable companies (NACE 43230). It probably lies between €83,000 and €330,000. It is a rough estimate.Financials
- Is MODISOL profitable?
- In financial year 2025, MODISOL made a profit of €105.
- Where can I find the annual accounts of MODISOL?
- MODISOL filed 16 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MODISOL due?
- MODISOL must file the annual accounts for financial year 2026 by 31-01-2027.Timeline
Next steps
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