SANITHERM
ActiveSANITHERM has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €540k and a net result of €60k. Equity remains stable across the filed fiscal years (±1.4% per year). Its solvency ranks better than 38% of 9625 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
55
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability50▲+14
Solvency54▼-4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days only on tighter terms
Liquidity tight (current ratio 1.21 against 1.69 in 2023; short-term debt: 57.3% and cash: 4.5% of total assets), and 71% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five 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
Sector 43
higher
← 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
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €540k
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 06-02-2026, 190 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
190 d late
2023
61 d late
2022
49 d late
2021
68 d late
2020
139 d late
2019
108 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€540k▲ 11.6%
2023 · €484k
2018: €454k
2019: €466k
2020: €467k
2021: €467k
2022: €474k
2023: €484k
2018 → 2024
Total assets
€1.87M▲ 25.9%
2023 · €1.48M
2018: €879k
2019: €1.11M
2020: €1.22M
2021: €1.27M
2022: €1.62M
2023: €1.48M
2018 → 2024
Net result
€60k▲ 465%
2023 · €11k
2018: €2k
2019: €12k
2020: €1k
2021: €132
2022: €6k
2023: €11k
2018 → 2024
Working capital
€226k▼ 53.9%
2023 · €489k
2018: €534k
2019: €454k
2020: €449k
2021: €380k
2022: €393k
2023: €489k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€467k-€467k=€474k▲ 1.4%€484k▲ 2.2%€540k▲ 11.6%
Operating result€21k-€19k▼ 10.3%€42k▲ 121%€71k▲ 67.2%€142k▲ 101%
Net result€1k-€132▼ 90.5%€6k▲ 4,682%€11k▲ 66.9%€60k▲ 465%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 101% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.87M
Fixed assets
€571k▲ 98.4%
Current assets
€1.29M▲ 8.4%
Equity and liabilities €1.87M
Equity
€540k▲ 11.6%
Debt
€1.32M▲ 32.8%
The debt ratio rises from 67.3% to 71.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€187k▲
2023 · €108k
Cash flow
€104k▲
2023 · €48k
Solvency
29.0%▼
2023 · 32.7%
Current ratio
1.21▼
2023 · 1.69
Quick ratio
0.40▼
2023 · 0.75
Debt / equity
2.45▲
2023 · 2.06
ROE
11.1%▲
2023 · 2.2%
ROA
3.2%▲
2023 · 0.7%
Interest coverage
3.25▲
2023 · 1.95
Debt
€1.32M▲
2023 · €998k
Debt ≤ 1 year
€1.07M▲
2023 · €705k
Debt > 1 year
€256k▼
2023 · €293k
Income taxes
€26k▲
2023 · €7k
Staff costs
€260k▲
2023 · €209k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€1.48M€1.87M▲
Fixed assets21/28€288k€571k▲
Tangible fixed assets22/27€287k€570k▲
Land and buildings22€221k€525k▲
Plant, machinery and equipment23€25k€14k▼
Furniture and vehicles24€40k€30k▼
Other tangible fixed assets26€2k€1k▼
Financial fixed assets28€850€850=
Current assets29/58€1.19M€1.29M▲
Stocks and contracts in progress3€665k€863k▲
Stocks30/36€635k€814k▲
Contracts in progress37€30k€50k▲
Amounts receivable within one year40/41€331k€338k▲
Trade receivables40€241k€264k▲
Other amounts receivable41€91k€75k▼
Current investments50/53€3k-
Cash at bank and in hand54/58€187k€84k▼
Deferred charges and accrued income490/1€7k€9k▲
Equity and liabilities
Total equity and liabilities10/49€1.48M€1.87M▲
Equity10/15€484k€540k▲
Contributions10/11€6k€6k=
Reserves13€452k€508k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€450k€506k▲
Profit (loss) carried forward14€26k€26k=
Amounts payable17/49€998k€1.32M▲
Amounts payable after more than one year17€293k€256k▼
Financial debts170/4€293k€256k▼
Amounts payable within one year42/48€705k€1.07M▲
Current portion of amounts payable after more than one year42€36k€37k▲
Financial debts43€389k€674k▲
Credit institutions430/8€389k€674k▲
Trade debts44€208k€292k▲
Suppliers440/4€208k€292k▲
Taxes, remuneration and social security45€27k€34k▲
Taxes450/3€12k€33k▲
Remuneration and social security454/9€15k€596▼
Other amounts payable47/48€45k€32k▼
Income statement
Code20232024
Non-recurring operating income76A€38k-
Remuneration, social security and pensions62€209k€260k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€38k€45k▲
Other operating charges640/8€10k€11k▲
Gross operating margin9900€327k€458k▲
Operating profit (loss)9901€71k€142k▲
Financial income75/76B€2k€880▼
Recurring financial income75€2k€880▼
Financial charges65/66B€56k€57k▲
Recurring financial charges65€56k€57k▲
Profit (loss) for the period before taxes9903€17k€86k▲
Income taxes67/77€7k€26k▲
Profit (loss) for the period9904€11k€60k▲
Profit (loss) for the period to be appropriated9905€11k€60k▲
Appropriation of the result
Profit (loss) to be appropriated9906€26k€86k▲
Profit (loss) brought forward from the previous period14P€16k€26k▲
Transfer to equity691/2€1€56k▲
To the legal reserve6920€1-
To other reserves6921-€56k
Profit to be distributed694/7-€4k
Directors or managers695-€4k
Social balance
Average headcount (FTE)90874.54.8▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
06-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 190 days late
2024
31-12
Financial
Highest result since 2018net €60k ▲465%
Operating result €142k, net result €60k, both a record.
31-12
Financial
Equity above €500kEq €540k ▲11.6%
7 profitable years in a row build equity to €540k.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 61 days late
2023
18-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 49 days late
2022
07-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 68 days late
2021
31-12
Financial
Weakest financial yearnet €132 ▼90.5%
Net result drops to €132, the lowest in the series; recovery starts the following year.
17-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 139 days late
2020
16-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 108 days late
2019
10-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 71 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
27-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 58 days late
2016
09-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 40 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Erpe-Mere · 1 establishment unit since 1998
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Lange Ommegangstraat 509420 Erpe-MereGround area
738 m²
Building footprint
111 m²
Volume, LiDAR
688 m³
Parcel 41016C0844/00G000, Flanders · tallest building 10.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
SANITHERM
since 19982.089.352.086
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41016C0844/00G000 | Flanders | 738 m² | 1 · 111 m² | 10.0 m · 2 fl. |
Linked by address, not proof of ownership
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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 2,000 EUR awarded · 2,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
Hinderpremie bij openbare werken
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Of 9,524 companies in sector 43222 we hold annual accounts for 5,658. 3,908 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded13-10-1998
Fiscal year end31-12
Activities, NACEBEL
43222Installation of electric heating, air conditioning, cooling and ventilation
47521Retail sale of hardware, building materials, paint and glass (general range)
52462
41001General construction of residential buildings
68121Development of residential building projects
43221Plumbing work
Sources
Crossroads Bank for EnterprisesNational Bank · 26 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.