THERCOOL
ActiveSummary
The computed 12-month bankruptcy probability of THERCOOL is 1.9% (moderate). The 2024 annual accounts show equity of €64,817 and a net result of €26,224. Equity is growing by ~2.5% per year across the filed fiscal years. Its solvency ranks better than 43% of 36386 sector peers (fiscal year 2024). The company has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability89▲+56
Solvency66=
Growth52▲+30
Track record100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity ample (current ratio 1.67 against 1.68 in 2023; short-term debt: 59.4% and cash: 11% of total assets), but 59.4% of the assets are financed with debt.
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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
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
40.6%
Return on assets
16.4%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 06-08-2025, 6 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
6 d late
2023
22 d late
2022
58 d late
2021
94 d late
2020
87 d late
2019
48 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 53 days after 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 (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
€162,162▲ 22.2%
2021 · €132,666
EBIT margin
4.3%▲ 30.1pp
2021 · -25.8%
Net result
€26,224
2023 · -€1,679
Working capital
€63,757▲ 65.6%
2023 · €38,503
Trend over the years
Click a name to add, emphasise or remove a line.Band: 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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€132,666€162,162▲ 22.2%
Operating result€13,757▼ 68.0%-€34,174€6,980-€290€26,849
Net result€13,672within the sector's middle half▼ 65.7%-€20,316below the sector's middle half€4,416within the sector's middle half-€1,679below the sector's middle half€26,224within the sector's middle half
EBIT margin-25.8%4.3%▲ 30.1pp
Equity€58,721within the sector's middle half▲ 30.3%€35,856within the sector's middle half▼ 38.9%€40,273within the sector's middle half▲ 12.3%€38,593within the sector's middle half▼ 4.2%€64,817within the sector's middle half▲ 67.9%
Total assets€125,440within the sector's middle half▲ 56.7%€80,731within the sector's middle half▼ 35.6%€97,642within the sector's middle half▲ 20.9%€95,119within the sector's middle half▼ 2.6%€159,547within the sector's middle half▲ 67.7%
Debt€66,719▲ 90.6%€44,875▼ 32.7%€57,369▲ 27.8%€56,526▼ 1.5%€94,729▲ 67.6%
Working capital€58,631within the sector's middle half▲ 34.3%€35,766within the sector's middle half▼ 39.0%€40,183within the sector's middle half▲ 12.3%€38,503within the sector's middle half▼ 4.2%€63,757within the sector's middle half▲ 65.6%
Solvency46.8%within the sector's middle half▼ 9.5pp44.4%within the sector's middle half▼ 2.4pp41.2%within the sector's middle half▼ 3.2pp40.6%within the sector's middle half▼ 0.7pp40.6%within the sector's middle half▲ 0.1pp
Current ratio1.88within the sector's middle half▼ 0.371.80within the sector's middle half▼ 0.081.70within the sector's middle half▼ 0.101.68within the sector's middle half▼ 0.021.67within the sector's middle half▼ 0.01
Return on assets (ROA)10.9%within the sector's middle half▼ 38.8pp-25.2%below the sector's middle half▼ 36.1pp4.5%within the sector's middle half▲ 29.7pp-1.8%below the sector's middle half▼ 6.3pp16.4%within the sector's middle half▲ 18.2pp
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.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €26,849 after a loss of €290 in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €159,547
Fixed assets
€1,061 ▲ 1,079%
Current assets
€158,486 ▲ 66.8%
Equity and liabilities €159,547
Equity
€64,817 ▲ 67.9%
Debt
€94,729 ▲ 67.6%
Debt's share of the balance-sheet total falls from 59.4% to 59.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€27,091
Cash flow
€26,467
Quick ratio
1.36▲
2023 · 1.15
Debt to equity
1.46▼
2023 · 1.46
ROE
40.5%▲
2023 · -4.4%
Interest coverage
398.17
Debt ≤ 1 year
€94,729▲
2023 · €56,526
Income taxes
€575▼
2023 · €1,203
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,679 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 34,679 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | €132,666 | €162,162 | - | - | - |
| Non-recurring operating income76A | - | - | €292 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €166,344 | €154,716 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,331 | - | - | - | €243 | - |
| Other operating charges640/8 | - | €496 | €759 | €566 | €4,810 | ▲ 750% |
| Gross operating margin9900 | €15,779 | -€33,678 | €7,738 | €276 | €31,901 | ▲ 11,475% |
| Operating profit (loss)9901 | €13,757 | -€34,174 | €6,980 | -€290 | €26,849 | ▲ 9,348% |
| Financial income75/76B | - | €13,921 | €1 | €0 | €18 | ▲ 7,433% |
| Recurring financial income75 | - | €201 | €1 | €0 | €18 | ▲ 7,433% |
| Non-recurring financial income76B | - | €13,720 | - | - | - | - |
| Financial charges65/66B | - | €63 | €411 | €186 | €68 | ▼ 63.4% |
| Recurring financial charges65 | €86 | €63 | €411 | €186 | €68 | ▼ 63.4% |
| Profit (loss) for the period before taxes9903 | €13,672 | -€20,316 | €6,570 | -€476 | €26,799 | ▲ 5,729% |
| Income taxes67/77 | - | - | €2,153 | €1,203 | €575 | ▼ 52.2% |
| Profit (loss) for the period9904 | €13,672 | -€20,316 | €4,416 | -€1,679 | €26,224 | ▲ 1,662% |
| Profit (loss) for the period to be appropriated9905 | €13,672 | -€20,316 | €4,416 | -€1,679 | €26,224 | ▲ 1,662% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €125,440 | €80,731 | €97,642 | €95,119 | €159,547 | ▲ 67.7% |
| Fixed assets21/28 | €90 | €90 | €90 | €90 | €1,061 | ▲ 1,079% |
| Tangible fixed assets22/27 | - | - | - | - | €971 | - |
| Plant, machinery and equipment23 | - | - | - | - | €971 | - |
| Financial fixed assets28 | €90 | €90 | €90 | €90 | €90 | = |
| Current assets29/58 | €125,350 | €80,641 | €97,552 | €95,029 | €158,486 | ▲ 66.8% |
| Stocks and contracts in progress3 | €117 | €117 | €40,317 | €30,067 | €30,067 | = |
| Stocks30/36 | - | €117 | €40,317 | €30,067 | €30,067 | = |
| Amounts receivable within one year40/41 | €89,532 | €39,440 | €17,880 | €37,101 | €109,415 | ▲ 195% |
| Trade receivables40 | - | €29,358 | €17,730 | €35,043 | €109,161 | ▲ 212% |
| Other amounts receivable41 | - | €10,081 | €150 | €2,058 | €254 | ▼ 87.7% |
| Cash at bank and in hand54/58 | €34,705 | €38,530 | €36,781 | €26,566 | €17,553 | ▼ 33.9% |
| Deferred charges and accrued income490/1 | - | €2,555 | €2,574 | €1,296 | €1,451 | ▲ 12.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €125,440 | €80,731 | €97,642 | €95,119 | €159,547 | ▲ 67.7% |
| Equity10/15 | €58,721 | €35,856 | €40,273 | €38,593 | €64,817 | ▲ 67.9% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Outside capital11 | - | €18,600 | €18,600 | - | - | - |
| Other1109/19 | - | €18,600 | €18,600 | - | - | - |
| Reserves13 | €1,064 | €1,064 | €1,064 | €1,064 | €1,064 | = |
| Non-distributable reserves130/1 | - | €1,064 | €1,064 | €1,064 | €1,064 | = |
| Legal reserve130 | - | €1,064 | €1,064 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,064 | €1,064 | = |
| Profit (loss) carried forward14 | €39,057 | €16,192 | €20,608 | €18,929 | €45,153 | ▲ 139% |
| Amounts payable17/49 | €66,719 | €44,875 | €57,369 | €56,526 | €94,729 | ▲ 67.6% |
| Amounts payable within one year42/48 | €66,719 | €44,875 | €57,369 | €56,526 | €94,729 | ▲ 67.6% |
| Trade debts44 | €11,618 | €6,343 | €15,859 | €17,994 | €36,010 | ▲ 100% |
| Suppliers440/4 | - | €6,343 | €15,859 | €17,994 | €36,010 | ▲ 100% |
| Advances received on contracts in progress46 | - | €3,532 | €3,532 | €3,532 | €22,401 | ▲ 534% |
| Taxes, remuneration and social security45 | - | - | €2,978 | - | €23,819 | - |
| Taxes450/3 | - | - | - | - | €1,319 | - |
| Remuneration and social security454/9 | - | - | €2,978 | - | €22,500 | - |
| Other amounts payable47/48 | - | €35,000 | €35,000 | €35,000 | €12,500 | ▼ 64.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,672 | -€20,316 | €4,416 | -€1,679 | €26,224 | ▲ 1,662% |
| + Depreciation and write-downs630 | €1,331 | - | - | - | €243 | - |
| Operating cash flow (approximation) | €15,003 | -€20,316 | €4,416 | -€1,679 | €26,467 | ▲ 1,676% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€1,213 | - |
| Change in cash | - | €3,825 | -€1,749 | -€10,216 | -€9,013 | ▲ 11.8% |
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
2025
06-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 6 days late
2024
31-12
Financial
Back to profitnet €26,224
Net result €26,224 after one loss-making year.
22-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 22 days late
2023
27-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 58 days late
2022
31-12
Financial
Back to profitnet €4,416
Net result €4,416 after one loss-making year.
02-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 94 days late
2021
31-12
Financial
Weakest financial yearnet -€20,316
Net result drops to -€20,316, the lowest in the series; recovery starts the following year.
26-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 87 days late
2020
17-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 48 days late
2019
31-12
Financial
Highest result since 2018net €39,820 ▲197%
Operating result €43,034, net result €39,820, both a record.
03-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 64 days late
2018
15-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 76 days late
2017
30-12
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 152 days late
2015
08-10
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 69 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Anderlecht · 1 establishment unit since 2014
Ground area
814 m²
Building footprint
446 m²
Volume, LiDAR
4,298 m³
2 parcels, Brussels · tallest building 18.4 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
THERCOOL
since 20142.243.274.755
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21304B0138/00C010 | Brussels | 616 m² | 1 · 282 m² | 18.4 m · 4 fl. |
| 21902A0229/00P003 | Brussels | 198 m² | 1 · 164 m² | 14.1 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 9,536 companies in sector 43222 we hold annual accounts for 5,669. 4,738 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded27-06-2014
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
Contact
E-mail
thercool.t@gmail.comSchaarbeek
Phone
0486/818117Schaarbeek
E-invoicing
Reachable via Peppol
Peppol ID
0208:0554836634
Also
9925:BE0554836634
Registered
19-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.