SOLTHERM
ActiveSummary
SOLTHERM has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €161,361 and a net result of -€10,043. Equity is growing by ~3.3% per year across the filed fiscal years. Its solvency ranks better than 56% of 28374 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability65▼-12
Solvency77▼-9
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity tight (current ratio 1.43 against 4.64 in 2024; short-term debt: 31% and cash: 16.8% of total assets), and 48% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four 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
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-06-2026, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2024
17 d early
2023
1 d early
2022
46 d early
2021
18 d early
2020
96 d early
2019
7 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 34 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 13 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€10,043
2024 · €17,709
Working capital
€41,720▼ 70.0%
2024 · €139,191
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€4,157▼ 51.4%€13,999▲ 237%€5,896▼ 57.9%€16,952▲ 188%-€3,294
Net result€4,618within the sector's middle half▼ 18.3%€8,130within the sector's middle half▲ 76.0%€2,694within the sector's middle half▼ 66.9%€17,709within the sector's middle half▲ 557%-€10,043below the sector's middle half
Equity€142,872above the sector's middle half▲ 0.4%€151,001above the sector's middle half▲ 5.7%€153,696above the sector's middle half▲ 1.8%€171,405above the sector's middle half▲ 11.5%€161,361above the sector's middle half▼ 5.9%
Total assets€167,052within the sector's middle half▼ 8.1%€186,613within the sector's middle half▲ 11.7%€295,480within the sector's middle half▲ 58.3%€282,711within the sector's middle half▼ 4.3%€310,225above the sector's middle half▲ 9.7%
Debt€24,180▼ 38.9%€35,612▲ 47.3%€141,784▲ 298%€111,306▼ 21.5%€148,864▲ 33.7%
Working capital€138,414above the sector's middle half▲ 5.4%€148,182above the sector's middle half▲ 7.1%€139,796above the sector's middle half▼ 5.7%€139,191above the sector's middle half▼ 0.4%€41,720within the sector's middle half▼ 70.0%
Solvency85.5%above the sector's middle half▲ 7.3pp80.9%above the sector's middle half▼ 4.6pp52.0%within the sector's middle half▼ 28.9pp60.6%within the sector's middle half▲ 8.6pp52.0%within the sector's middle half▼ 8.6pp
Current ratio6.72above the sector's middle half▲ 2.135.16above the sector's middle half▼ 1.563.91above the sector's middle half▼ 1.264.64above the sector's middle half▲ 0.731.43within the sector's middle half▼ 3.20
Return on assets (ROA)2.8%within the sector's middle half▼ 0.3pp4.4%within the sector's middle half▲ 1.6pp0.9%within the sector's middle half▼ 3.4pp6.3%within the sector's middle half▲ 5.4pp-3.2%below the sector's middle half▼ 9.5pp
Staff (FTE)2=2=2=1.1▼ 45.0%2▲ 81.8%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €3,294 after €16,952 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €310,225
Fixed assets
€172,293 ▲ 63.7%
Current assets
€137,932 ▼ 22.3%
Equity and liabilities €310,225
Equity
€161,361 ▼ 5.9%
Debt
€148,864 ▲ 33.7%
Debt's share of the balance-sheet total rises from 39.4% to 48.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€37,705▼
2024 · €46,015
Cash flow
€30,955▼
2024 · €46,772
Quick ratio
1.43▼
2024 · 4.36
Debt to equity
0.92▲
2024 · 0.65
ROE
-6.2%▼
2024 · 10.3%
Interest coverage
10.64▼
2024 · 11.56
Debt ≤ 1 year
€96,212▲
2024 · €38,266
Debt > 1 year
€52,652▼
2024 · €73,040
Income taxes
€5,645▲
2024 · -€2,790
Staff costs
€99,120▲
2024 · €79,074
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,910 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 91% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a small loss
1.1%
went bankrupt
7.8%
stopped otherwise
91%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,910 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €44,613 | €69,775 | €100,139 | €79,074 | €99,120 | ▲ 25.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,483 | €2,407 | €19,240 | €29,063 | €40,998 | ▲ 41.1% |
| Other operating charges640/8 | €1,375 | €1,104 | €8,651 | €1,364 | €1,626 | ▲ 19.2% |
| Gross operating margin9900 | €59,627 | €87,284 | €133,925 | €126,454 | €138,450 | ▲ 9.5% |
| Operating profit (loss)9901 | €4,157 | €13,999 | €5,896 | €16,952 | -€3,294 | ▼ 119% |
| Financial income75/76B | €5,018 | €4,269 | €1,616 | €1,947 | €2,440 | ▲ 25.3% |
| Recurring financial income75 | €5,018 | €4,269 | €1,616 | €1,947 | €2,440 | ▲ 25.3% |
| Financial charges65/66B | €369 | €1,213 | €1,020 | €3,981 | €3,545 | ▼ 11.0% |
| Recurring financial charges65 | €369 | €1,213 | €1,020 | €3,981 | €3,545 | ▼ 11.0% |
| Profit (loss) for the period before taxes9903 | €8,806 | €17,055 | €6,492 | €14,919 | -€4,398 | ▼ 129% |
| Income taxes67/77 | €4,187 | €8,926 | €3,798 | -€2,790 | €5,645 | ▲ 302% |
| Profit (loss) for the period9904 | €4,618 | €8,130 | €2,694 | €17,709 | -€10,043 | ▼ 157% |
| Profit (loss) for the period to be appropriated9905 | €4,618 | €8,130 | €2,694 | €17,709 | -€10,043 | ▼ 157% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €167,052 | €186,613 | €295,480 | €282,711 | €310,225 | ▲ 9.7% |
| Fixed assets21/28 | €4,458 | €2,819 | €107,566 | €105,254 | €172,293 | ▲ 63.7% |
| Tangible fixed assets22/27 | €4,458 | €2,819 | €107,566 | €105,254 | €172,293 | ▲ 63.7% |
| Plant, machinery and equipment23 | €260 | - | €83,017 | €87,009 | €161,286 | ▲ 85.4% |
| Furniture and vehicles24 | €4,198 | €2,819 | €24,549 | €18,246 | €11,007 | ▼ 39.7% |
| Current assets29/58 | €162,594 | €183,794 | €187,914 | €177,457 | €137,932 | ▼ 22.3% |
| Amounts receivable after more than one year29 | - | €60,000 | €60,000 | €50,000 | - | - |
| Other amounts receivable291 | - | €60,000 | €60,000 | €50,000 | - | - |
| Stocks and contracts in progress3 | €1,250 | €1,000 | €11,935 | €10,717 | €500 | ▼ 95.3% |
| Stocks30/36 | €1,250 | €1,000 | €11,935 | €10,717 | €500 | ▼ 95.3% |
| Amounts receivable within one year40/41 | €156,139 | €96,457 | €83,739 | €73,943 | €85,395 | ▲ 15.5% |
| Trade receivables40 | €112,496 | €49,780 | €66,599 | €60,182 | €65,638 | ▲ 9.1% |
| Other amounts receivable41 | €43,643 | €46,677 | €17,140 | €13,761 | €19,757 | ▲ 43.6% |
| Cash at bank and in hand54/58 | €5,205 | €26,337 | €32,240 | €23,979 | €52,037 | ▲ 117% |
| Deferred charges and accrued income490/1 | - | - | - | €18,818 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €167,052 | €186,613 | €295,480 | €282,711 | €310,225 | ▲ 9.7% |
| Equity10/15 | €142,872 | €151,001 | €153,696 | €171,405 | €161,361 | ▼ 5.9% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Outside capital11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Other1109/19 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €21,750 | €29,880 | €32,574 | €50,283 | €50,283 | = |
| Non-distributable reserves130/1 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves not available under the articles1311 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Tax-exempt reserves132 | €12,750 | €12,750 | €12,750 | €12,750 | €12,750 | = |
| Distributable reserves133 | €7,000 | €15,130 | €17,824 | €35,533 | €35,533 | = |
| Profit (loss) carried forward14 | €108,722 | €108,722 | €108,722 | €108,722 | €98,679 | ▼ 9.2% |
| Amounts payable17/49 | €24,180 | €35,612 | €141,784 | €111,306 | €148,864 | ▲ 33.7% |
| Amounts payable after more than one year17 | - | - | €93,666 | €73,040 | €52,652 | ▼ 27.9% |
| Financial debts170/4 | - | - | €93,666 | €73,040 | €52,652 | ▼ 27.9% |
| Amounts payable within one year42/48 | €24,180 | €35,612 | €48,118 | €38,266 | €96,212 | ▲ 151% |
| Current portion of amounts payable after more than one year42 | €3,324 | - | €19,906 | €20,626 | €20,388 | ▼ 1.2% |
| Trade debts44 | €15,824 | €26,716 | €15,897 | €7,042 | €10,734 | ▲ 52.4% |
| Suppliers440/4 | €15,824 | €26,716 | €15,897 | €7,042 | €10,734 | ▲ 52.4% |
| Taxes, remuneration and social security45 | €1,033 | €8,896 | €12,315 | €6,639 | €17,326 | ▲ 161% |
| Taxes450/3 | - | €7,000 | €4,688 | - | €3,898 | - |
| Remuneration and social security454/9 | €1,033 | €1,896 | €7,627 | €6,639 | €13,428 | ▲ 102% |
| Other amounts payable47/48 | €4,000 | - | - | €3,959 | €47,763 | ▲ 1,106% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,618 | €8,130 | €2,694 | €17,709 | -€10,043 | ▼ 157% |
| + Depreciation and write-downs630 | €9,483 | €2,407 | €19,240 | €29,063 | €40,998 | ▲ 41.1% |
| Operating cash flow (approximation) | €14,101 | €10,536 | €21,934 | €46,772 | €30,955 | ▼ 33.8% |
| Investment in fixed assets (approximation) | - | -€768 | -€123,986 | -€26,751 | -€108,037 | ▼ 304% |
| Change in cash | - | €21,132 | €5,903 | -€8,261 | €28,058 | ▲ 440% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€10,043
Net result drops to -€10,043, the lowest in the series.
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
15-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €150,000Eq €151,001 ▲5.7%
5 profitable years in a row build equity to €151,001.
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
26-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity doublescurrent ratio 4.59
Current ratio from 2.04 to 4.59; short-term debt falls from €125,956 to €36,546.
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €25,996 ▲82.5%
Operating result €23,972, net result €25,996, both a record.
10-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 41 days late
2018
03-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 3 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Chaumont-Gistoux · 1 establishment unit since 2010
Ground area
3,760 m²
Building footprint
253 m²
Volume, LiDAR
1,240 m³
Parcel 25058A0327/00K000, Wallonia · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GUILMAIN NICOLAS
since 20102.188.977.818
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25058A0327/00K000 | Wallonia | 3,760 m² | 1 · 252 m² | 9.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteChaumont-Gistoux2.188.977.818
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Of 9,531 companies in this sector we hold annual accounts for 5,666. 4,892 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded28-05-2010
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
01610Support activities for crop production
01620Support activities for animal production
43120Site preparation
43221Plumbing work
43230Insulation installation
43910Bricklaying and masonry work
47553Retail trade
47559Retail sale of other household articles
47640Retail sale of games and toys
47715Retail trade
47789Other retail sale of new goods
E-invoicing
Reachable via Peppol
Peppol ID
0208:0826300834
Registered
08-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.