TERMIC
ActiveSummary
TERMIC has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €95,980 and a net result of €11,005. Equity has been growing by about 38% per year since 2023. Its solvency ranks better than 32% of 34,946 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 07-07-2022 Normal situation
- Activity
- Installation of electric heating, air conditioning, cooling and ventilation NACE 43222and 3 others
- Establishment unit
- 2.336.266.873 4877 Olne, since 01-08-2022
- Financial year end
- 30 September
- Peppol
- Reachable since 01-12-2025
Board and ownership
- TecHeatDirector · permanent representative DELPORTE Cyril
- CALIDUM SRLDirector
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.0%
- Gross margin
- €174,801
- ▼ 17.0%
- Turnover
- ≈ €540,000
- estimated
- Profit
- €11,005
- ▼ 84.9%
- Equity
- €95,980
- ▲ 13.0%
- Total assets
- €315,057
- ▲ 12.2%
- Employees on 30-09-2025
- 2
- ▼ 33.3%
Score breakdownraises riskFounded in 2022Sector: Specialised construction activities (NACE 43)lowers riskSize: total assets €315,057Figures for financial year 2025 (filed on 11-12-2025)Show the evidence
Checked score
About 1 in 100 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, micro). It does better than 32% of them on solvency, 12% on liquidity, 45% on profitability and 59% 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 3 accounts on average 110 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)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 11-12-2025 PDF all 3 filings
2023 to 2025, 3 financial years
The operating result for 2025 is 82% lower than in 2024 and the lowest since 2023.
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 and return on assets (ROA).
Staff
| Item | 30-09-2024 | 30-09-2025 |
|---|---|---|
| Employees at the balance-sheet date | 3 | 2 |
| full-time | 3 | 2 |
| in full-time equivalents | 3 | 2 |
| Average over the year, in full-time equivalents | 1.8 | 2.7 |
| On a permanent contract | 2 | 2 |
| Joined | 2 | - |
| Left | 0 | - |
Source: social balance sheet in the 2024 to 2025 annual accounts
Investments
| Item | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|
| Tangible fixed assets | €36,052 | €56,285 | - |
| Intangible fixed assets | €7,533 | €2,100 | - |
| Financial fixed assets | - | €6,000 | - |
| Depreciation and write-downs of the year | €5,623 | €16,809 | €22,678 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Comparable companies
These companies have the same main activity as TERMIC: installation of electric heating, air conditioning, cooling and ventilation (NACE 43222). They are comparable in size and age: total assets between €283,000 and €366,000, founded in 2022.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| TERMIC Welkenraedt | 2022 | €315,057 | €95,980 | €174,801 | €11,005 | - | 2025 |
| Ets OLIVIER GALVAN Wasseiges | 2022 | €282,737 | €252,613 | €164,161 | €109,581 | - | 2025 |
| BeL Energy Herve | 2022 | €305,466 | €101,870 | €202,227 | €33,155 | 3.7 | 2025 |
| Frigo Ilten Burg-Reuland | 2022 | €365,912 | €191,388 | €178,140 | €49,222 | - | 2025 |
| JVB CHAUFFAGE Walcourt | 2022 | €313,680 | €185,660 | €191,070 | €45,365 | - | 2025 |
| SCHÜTZ SRL Habay | 2022 | €303,900 | €201,247 | €186,923 | €61,579 | - | 2025 |
| DE NOLF Comines-Warneton | 2022 | €329,234 | €21,338 | €198,319 | €5,668 | - | 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, 2,546 companies had the same profile as TERMIC has now. Two years later, 2.3% had gone bankrupt and 94.3% were still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of TERMIC itself: 1.0% 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 2,546 companies, not a prediction for TERMIC. 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 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €20,502 | €93,197 | €133,900 | ▲ 43.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,623 | €16,809 | €22,678 | ▲ 34.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €2,814 | - | - |
| Other operating charges640/8 | €475 | €905 | €974 | ▲ 7.6% |
| Gross operating margin9900 | €69,964 | €210,611 | €174,801 | ▼ 17.0% |
| Operating profit (loss)9901 | €43,364 | €96,886 | €17,249 | ▼ 82.2% |
| Financial income75/76B | €82 | €998 | €239 | ▼ 76.1% |
| Recurring financial income75 | €82 | €998 | €239 | ▼ 76.1% |
| Financial charges65/66B | €806 | €2,262 | €3,478 | ▲ 53.7% |
| Recurring financial charges65 | €806 | €2,262 | €3,478 | ▲ 53.7% |
| Profit (loss) for the period before taxes9903 | €42,640 | €95,622 | €14,010 | ▼ 85.3% |
| Income taxes67/77 | €13,221 | €22,565 | €3,005 | ▼ 86.7% |
| Profit (loss) for the period9904 | €29,419 | €73,057 | €11,005 | ▼ 84.9% |
| Profit (loss) for the period to be appropriated9905 | €29,419 | €73,057 | €11,005 | ▼ 84.9% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €188,775 | €280,907 | €315,057 | ▲ 12.2% |
| Fixed assets21/28 | €39,597 | €87,173 | €64,496 | ▼ 26.0% |
| Intangible fixed assets21 | €7,206 | €7,447 | €5,520 | ▼ 25.9% |
| Tangible fixed assets22/27 | €32,391 | €73,726 | €52,975 | ▼ 28.1% |
| Plant, machinery and equipment23 | €12,820 | €9,931 | €7,043 | ▼ 29.1% |
| Furniture and vehicles24 | €19,571 | €63,795 | €45,932 | ▼ 28.0% |
| Financial fixed assets28 | - | €6,000 | €6,000 | = |
| Current assets29/58 | €149,178 | €193,733 | €250,561 | ▲ 29.3% |
| Stocks and contracts in progress3 | €4,587 | €13,034 | €33,911 | ▲ 160% |
| Stocks30/36 | €4,587 | €13,034 | €33,911 | ▲ 160% |
| Amounts receivable within one year40/41 | €96,513 | €112,086 | €191,801 | ▲ 71.1% |
| Trade receivables40 | €93,017 | €94,246 | €180,115 | ▲ 91.1% |
| Other amounts receivable41 | €3,495 | €17,840 | €11,686 | ▼ 34.5% |
| Cash at bank and in hand54/58 | €45,309 | €65,371 | €17,868 | ▼ 72.7% |
| Deferred charges and accrued income490/1 | €2,770 | €3,243 | €6,982 | ▲ 115% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €188,775 | €280,907 | €315,057 | ▲ 12.2% |
| Equity10/15 | €31,919 | €84,975 | €95,980 | ▲ 13.0% |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | = |
| Reserves13 | €29,400 | €82,400 | €93,400 | ▲ 13.3% |
| Distributable reserves133 | €29,400 | €82,400 | €93,400 | ▲ 13.3% |
| Profit (loss) carried forward14 | €19 | €75 | €80 | ▲ 6.2% |
| Amounts payable17/49 | €156,856 | €195,932 | €219,077 | ▲ 11.8% |
| Amounts payable after more than one year17 | €11,100 | €23,255 | €5,382 | ▼ 76.9% |
| Financial debts170/4 | €11,100 | €23,255 | €5,382 | ▼ 76.9% |
| Amounts payable within one year42/48 | €143,006 | €169,827 | €210,795 | ▲ 24.1% |
| Current portion of amounts payable after more than one year42 | €5,515 | €22,356 | €17,874 | ▼ 20.1% |
| Financial debts43 | - | - | €44,000 | - |
| Credit institutions430/8 | - | - | €44,000 | - |
| Trade debts44 | €113,817 | €88,100 | €98,090 | ▲ 11.3% |
| Suppliers440/4 | €113,817 | €88,100 | €98,090 | ▲ 11.3% |
| Taxes, remuneration and social security45 | €19,942 | €38,465 | €22,518 | ▼ 41.5% |
| Taxes450/3 | €13,221 | €25,474 | €6,283 | ▼ 75.3% |
| Remuneration and social security454/9 | €6,721 | €12,991 | €16,235 | ▲ 25.0% |
| Other amounts payable47/48 | €3,732 | €20,906 | €28,313 | ▲ 35.4% |
| Accrued charges and deferred income492/3 | €2,750 | €2,850 | €2,900 | ▲ 1.8% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €29,419 | €73,057 | €11,005 | ▼ 84.9% |
| + Depreciation and write-downs630 | €5,623 | €16,809 | €22,678 | ▲ 34.9% |
| Operating cash flow (approximation) | €35,042 | €89,865 | €33,683 | ▼ 62.5% |
| Investment in fixed assets (approximation) | - | -€64,385 | €0 | - |
| Change in cash | - | €20,062 | -€47,503 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Board & ownership
Directors
Board 2
Permanent representatives 1
Owners and capital
Shareholders
- MICHEL Frédéric 850 shares (34%) · €850
- LEFIN Olivier 825 shares (33%) · €825
- DELPORTE Cyril 825 shares (33%) · €825
Capital transactions
- 11-07-2022 Incorporation · €2,500 · 2,500 shares
Mandate history
- Board
- began earlier
- end not dated
| Name | Functions and periods |
|---|---|
| TecHeat |
|
| CALIDUM SRL |
|
| CALIDUM Chauffage |
|
| DELPORTE Cyril |
|
| LEFIN Olivier |
|
| MICHEL Frédéric |
|
Articles of association
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 11-07-2022 (in French)
Network & group
Companies at the same address
1 other companyConnections & network
2 current directorsThe board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Timeline
Acts, filings and financial milestones
14-08
Gazette deed
Resignations: MICHEL Frédéric, LEFIN Olivier and DELPORTE CyrilAppointments: TECHEAT (director) and CALIDUM CHAUFFAGE (director) · Permanent representatives: DELPORTE Cyril and LEFIN Olivier8 points ▸
- General meeting, 31-07-2023
- Director resignation, MICHEL Frédéric (director)
- Director resignation, LEFIN Olivier (director)
- Director resignation, DELPORTE Cyril (director)
- Director appointment, TECHEAT (director)
- Director appointment, CALIDUM CHAUFFAGE (director)
- Permanent representative, DELPORTE Cyril
- Permanent representative, LEFIN Olivier
26-01
Gazette deed
Registered office moved from Thimister-Clermont to WelkenraedtDirector in office5 points ▸
- Registered-office move, rue de l'Yser,129 à 4840 Welkenraedt
- Board meeting, “L'organe d'administration” (deed in French)
- Director in office, DELPORTE Cyril (director)
- Director in office, LEFIN Olivier (director)
- Director in office, MICHEL Frédéric (director)
11-07
Gazette deed
IncorporationStarting capital €2,500 · Appointments: MICHEL Frédéric, LEFIN Olivier and DELPORTE Cyril · Permanent representative: MICHEL Frédéric · Founder17 points ▸
- Incorporation, “TERMIC” (deed in French)
- Founder, MICHEL Frédéric (comparant)
- Founder, LEFIN Olivier (comparant)
- Founder, DELPORTE Cyril (comparant)
- Founding capital, €2,500
- Bank account, 2500, “BE51 0689 4554 0162” (deed in French)
- Declaration, “attestation de dépôt”, 2500 (deed in French)
- Other provision, “arrêt des statuts, comparants déclarent arrêter les statuts de la société” (deed in French)
- Capital
- Other provision, “prise effet dispositions finales/transitoires, conformément à la loi” (deed in French)
- Registered office clause, “4890 Thimister-Clermont,rue du Bosquet 3” (deed in French)
- Board rule, 3
- The act holds 5 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 0788.345.724
Financial year and general meeting
Accounts at the NBBRecognitions · licences · registrations
Recognised contractor
4 categories- D16 Sanitary installations and gas heating with individual appliancesclass 1, up to €162,000
- D17 Central heating, thermal installationsclass 1, up to €162,000
- D18 Ventilation, warm-air heating and air conditioningclass 1, up to €162,000
- T3 Refrigeration equipmentclass 1, up to €162,000
Sites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 63057A1368/00A000 | Wallonia | 1,103 m² | 1 · 250 m² | - |
| 63084A0063/00B002 | Wallonia | 494 m² | 1 · 83 m² | - |