NOVATHERM
NOVATHERM has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €38k and a net result of €2k. Equity is growing by ~26.5% per year across the filed fiscal years. Its solvency ranks better than 42% of 26547 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
| Equity | €38k |
| Net result | €2k |
| Better than sector | 42% |
| Active | 11 yrs |
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
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).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 40.4% | 47.4% | |
| Net result | €2k | €10k | |
| Equity | €38k | €60k | |
| Gross operating margin | €25k | €39k | |
| Staff costs | €438 | €40k |
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €23k | €28k | €40k | €60k | €38k |
| Net profit | €2k | €7k | €8k | €30k | €1k |
| Cash flow | €19k | €23k | €26k | €59k | €34k |
| Staff costs | €438 | €2k | €46k | €55k | €85k |
| Income taxes | €1k | €2k | €8k | €0 | - |
| Dividends | - | - | - | - | - |
| Total assets | €95k | €131k | €112k | €184k | €221k |
| Equity | €38k | €37k | €30k | €22k | €-9k |
| Debt | €57k | €94k | €82k | €163k | €229k |
| of which ≤ 1y | €35k | €53k | €49k | €144k | €201k |
| of which > 1y | €22k | €42k | €33k | €18k | €28k |
| Working capital | €9k | €11k | €-14k | €-20k | €-60k |
| Employees (FTE) | - | 0.5 | 1.7 | 2.0 | 2.8 |
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 1.26 | 1.22 | 0.72 | 0.86 | 0.70 |
| Quick ratio | 0.52 | 0.71 | 0.62 | 0.85 | 0.68 |
| Working capital ratio | 9.4% | 8.7% | -12.3% | -10.8% | -27.0% |
| Solvency | 40.4% | 28.0% | 26.9% | 11.8% | -3.9% |
| Debt / equity | 1.48 | 2.57 | 2.72 | 7.51 | -26.51 |
| Long-term debt ratio | 0.57 | 1.13 | 1.10 | 0.84 | -3.24 |
| Interest coverage | 6.97 | 8.69 | 18.64 | 31.84 | 7.61 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 1.6% | 5.1% | 7.5% | 16.4% | 0.6% |
| ROE | 4.0% | 18.2% | 27.9% | 139.9% | -15.9% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Full annual accounts (24 line items)
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €95k | €131k | €112k | €184k | €221k |
| Fixed assets | 21/28 | €51k | €67k | €77k | €60k | €79k |
| Tangible fixed assets | 22/27 | €51k | €67k | €77k | €60k | €79k |
| Current assets | 29/58 | €43k | €64k | €35k | €124k | €142k |
| Stocks & contracts in progress | 3 | €25k | €27k | €5k | €1k | €4k |
| Amounts receivable within one year | 40/41 | €18k | €37k | €30k | €114k | €128k |
| Cash & bank | 54/58 | €194 | - | €167 | €9k | €7k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €95k | €131k | €112k | €184k | €221k |
| Equity | 10/15 | €38k | €37k | €30k | €22k | €-9k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k | €19k |
| Reserves | 13 | €2k | €2k | €2k | €2k | €2k |
| Accumulated profits (losses) | 14 | €17k | €16k | €9k | €760 | €-30k |
| Amounts payable | 17/49 | €57k | €94k | €82k | €163k | €229k |
| Amounts payable after one year | 17 | €22k | €42k | €33k | €18k | €28k |
| Amounts payable within one year | 42/48 | €35k | €53k | €49k | €144k | €201k |
| Trade debts payable within one year | 44 | €7k | €22k | €9k | €103k | €140k |
| Income statement | ||||||
| Gross operating margin | 9900 | €25k | €36k | €88k | €123k | €127k |
| Operating result | 9901 | €6k | €12k | €22k | €31k | €6k |
| Financial income | 75 | €12 | €270 | €15 | €721 | €318 |
| Financial charges | 65 | €3k | €3k | €2k | €2k | €5k |
| Result before taxes | 9903 | €3k | €9k | €16k | €30k | €1k |
| Income taxes | 67/77 | €1k | €2k | €8k | €0 | - |
| Net result for the period | 9904 | €2k | €7k | €8k | €30k | €1k |
| Result to be appropriated | 9905 | €2k | €7k | €8k | €30k | €1k |
| NACE primary | Plumbing work(43221) |
| Legal form | Private limited company(610) |
| Incorporation | 01-06-2015 |
| Status | Active |
| Postal code | 6238 |
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
29-03-2022 Discharge granted to the board
Technical details
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"notary": {
"name": "Sandrine KOEUNE",
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"act_meta": {
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"subject_company": {
"kbo": "0630.980.050",
"name_full": "NOVATHERM",
"legal_form": "SRL"
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"co_filed_documents": [],
"corrected_publication_numac": null
}| Legal nameFR | NOVATHERM |