THERM PERFORMANCE
ActiveSummary
The computed 12-month bankruptcy probability of THERM PERFORMANCE is 2.3% (moderate). The 2025 annual accounts show equity of €39,467 and a net result of €8,987. Equity is growing by ~16.5% per year across the filed fiscal years. Its solvency ranks better than 30% of 28806 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability72▲+35
Solvency54▲+6
Growth35=
Track record94
Bankruptcy probability, 12 months
2.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity tight (current ratio 1.36 against 1.28 in 2024; short-term debt: 49.5% and cash: 27.3% of total assets), and 71.3% 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 · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
28.7%
Return on assets
6.5%
Age of the figures
9 mo
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 31-07-2026, 0 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
on the day
2024
42 d late
2023
59 d late
2022
289 d late
2021
3 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 77 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 (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 11 September (4 of the last 5 filed years within 45 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€187,378▲ 7.1%
2024 · €174,969
EBIT margin
6.1%▲ 7.8pp
2024 · -1.7%
Net result
€8,987
2024 · -€2,829
Working capital
€24,767▼ 2.3%
2024 · €25,355
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).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€249,052€174,969▼ 29.7%€187,378▲ 7.1%
Operating result€17,891-€10,118▼ 43.4%€47,001▲ 365%-€2,910€11,418
Net result€13,058within the sector's middle half-€5,631within the sector's middle half▼ 56.9%€34,620above the sector's middle half▲ 515%-€2,829below the sector's middle half€8,987within the sector's middle half
EBIT margin18.9%-1.7%▼ 20.5pp6.1%▲ 7.8pp
Equity€19,058below the sector's middle half-€24,689within the sector's middle half▲ 29.5%€33,309within the sector's middle half▲ 34.9%€30,480within the sector's middle half▼ 8.5%€39,467within the sector's middle half▲ 29.5%
Total assets€111,110within the sector's middle half-€110,987within the sector's middle half▼ 0.1%€167,977within the sector's middle half▲ 51.3%€133,361within the sector's middle half▼ 20.6%€137,451within the sector's middle half▲ 3.1%
Debt€92,052-€86,298▼ 6.3%€134,668▲ 56.1%€102,881▼ 23.6%€97,984▼ 4.8%
Working capital€16,458within the sector's middle half-€20,172within the sector's middle half▲ 22.6%€29,053within the sector's middle half▲ 44.0%€25,355within the sector's middle half▼ 12.7%€24,767within the sector's middle half▼ 2.3%
Solvency17.2%below the sector's middle half-22.2%within the sector's middle half▲ 5.1pp19.8%below the sector's middle half▼ 2.4pp22.9%below the sector's middle half▲ 3.0pp28.7%within the sector's middle half▲ 5.9pp
Current ratio1.28within the sector's middle half-1.33within the sector's middle half▲ 0.051.25within the sector's middle half▼ 0.081.28within the sector's middle half▲ 0.031.36within the sector's middle half▲ 0.09
Return on assets (ROA)11.8%within the sector's middle half-5.1%within the sector's middle half▼ 6.7pp20.6%above the sector's middle half▲ 15.5pp-2.1%below the sector's middle half▼ 22.7pp6.5%within the sector's middle half▲ 8.7pp
Staff (FTE)11.1▲ 10.0%
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 2025: €11,418 after a loss of €2,910 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €137,451
Fixed assets
€44,661 ▲ 163%
Current assets
€92,790 ▼ 20.3%
Equity and liabilities €137,451
Equity
€39,467 ▲ 29.5%
Debt
€97,984 ▼ 4.8%
Debt's share of the balance-sheet total falls from 77.1% to 71.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€19,211▲
2024 · €3,024
Cash flow
€16,780▲
2024 · €3,105
Debt to equity
2.48▼
2024 · 3.38
ROE
22.8%▲
2024 · -9.3%
Interest coverage
14.39▲
2024 · 3.13
Debt ≤ 1 year
€68,023▼
2024 · €91,006
Debt > 1 year
€29,961▲
2024 · €11,875
Income taxes
€2,338▲
2024 · €376
Staff costs
€41,877▲
2024 · €28,777
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,713 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.8%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.3% 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 497,341 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 6,713 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 |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | €249,052 | €174,969 | €187,378 | ▲ 7.1% |
| Non-recurring operating income76A | €2,454 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €168,361 | €142,618 | €125,362 | ▼ 12.1% |
| Remuneration, social security and pensions62 | €363 | €4,257 | €25,958 | €28,777 | €41,877 | ▲ 45.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,200 | €6,933 | €6,933 | €5,934 | €7,793 | ▲ 31.3% |
| Other operating charges640/8 | €1,077 | €252 | €799 | €550 | €929 | ▲ 68.7% |
| Non-recurring operating charges66A | €2 | €4 | - | - | - | - |
| Gross operating margin9900 | €24,533 | €21,565 | €80,690 | €32,351 | €62,016 | ▲ 91.7% |
| Operating profit (loss)9901 | €17,891 | €10,118 | €47,001 | -€2,910 | €11,418 | ▲ 492% |
| Financial income75/76B | €298 | €471 | €573 | €1,423 | €1,242 | ▼ 12.7% |
| Recurring financial income75 | €298 | €471 | €573 | €1,423 | €1,242 | ▼ 12.7% |
| Financial charges65/66B | €785 | €1,605 | €1,784 | €966 | €1,335 | ▲ 38.2% |
| Recurring financial charges65 | €785 | €1,605 | €1,784 | €966 | €1,335 | ▲ 38.2% |
| Profit (loss) for the period before taxes9903 | €17,404 | €8,984 | €45,790 | -€2,453 | €11,325 | ▲ 562% |
| Income taxes67/77 | €4,346 | €3,353 | €11,170 | €376 | €2,338 | ▲ 522% |
| Profit (loss) for the period9904 | €13,058 | €5,631 | €34,620 | -€2,829 | €8,987 | ▲ 418% |
| Profit (loss) for the period to be appropriated9905 | €13,058 | €5,631 | €34,620 | -€2,829 | €8,987 | ▲ 418% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €111,110 | €110,987 | €167,977 | €133,361 | €137,451 | ▲ 3.1% |
| Fixed assets21/28 | €36,800 | €29,867 | €22,934 | €17,000 | €44,661 | ▲ 163% |
| Intangible fixed assets21 | €18,500 | €16,500 | €14,500 | €12,500 | €10,500 | ▼ 16.0% |
| Tangible fixed assets22/27 | €18,300 | €13,367 | €8,434 | €4,500 | €34,161 | ▲ 659% |
| Plant, machinery and equipment23 | €15,300 | €11,700 | €8,100 | €4,500 | €900 | ▼ 80.0% |
| Furniture and vehicles24 | €3,000 | €1,667 | €334 | - | €33,261 | - |
| Current assets29/58 | €74,310 | €81,120 | €145,044 | €116,361 | €92,790 | ▼ 20.3% |
| Amounts receivable within one year40/41 | €27,835 | €34,754 | €106,289 | €79,530 | €50,606 | ▼ 36.4% |
| Trade receivables40 | €27,835 | €34,747 | €105,004 | €77,323 | €41,895 | ▼ 45.8% |
| Other amounts receivable41 | - | €7 | €1,285 | €2,207 | €8,711 | ▲ 295% |
| Cash at bank and in hand54/58 | €45,785 | €45,700 | €38,044 | €34,552 | €37,467 | ▲ 8.4% |
| Deferred charges and accrued income490/1 | €690 | €666 | €711 | €2,279 | €4,717 | ▲ 107% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €111,110 | €110,987 | €167,977 | €133,361 | €137,451 | ▲ 3.1% |
| Equity10/15 | €19,058 | €24,689 | €33,309 | €30,480 | €39,467 | ▲ 29.5% |
| Contributions10/11 | €6,000 | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Reserves13 | €13,058 | €18,689 | €18,689 | €18,689 | €18,689 | = |
| Distributable reserves133 | €13,058 | €18,689 | €18,689 | €18,689 | €18,689 | = |
| Profit (loss) carried forward14 | - | - | €8,620 | €5,791 | €14,778 | ▲ 155% |
| Amounts payable17/49 | €92,052 | €86,298 | €134,668 | €102,881 | €97,984 | ▼ 4.8% |
| Amounts payable after more than one year17 | €34,200 | €25,350 | €18,678 | €11,875 | €29,961 | ▲ 152% |
| Financial debts170/4 | €34,200 | €25,350 | €18,678 | €11,875 | €29,961 | ▲ 152% |
| Amounts payable within one year42/48 | €57,852 | €60,948 | €115,991 | €91,006 | €68,023 | ▼ 25.3% |
| Current portion of amounts payable after more than one year42 | €3,900 | €6,544 | €6,672 | €6,803 | €10,914 | ▲ 60.4% |
| Trade debts44 | €9,880 | €13,703 | €35,896 | €43,020 | €29,984 | ▼ 30.3% |
| Suppliers440/4 | €9,880 | €13,703 | €35,896 | €43,020 | €29,984 | ▼ 30.3% |
| Advances received on contracts in progress46 | - | - | - | €665 | €672 | ▲ 1.1% |
| Taxes, remuneration and social security45 | €6,082 | €8,523 | €15,294 | €22,725 | €6,909 | ▼ 69.6% |
| Taxes450/3 | €4,582 | €5,219 | €14,523 | €19,346 | €3,421 | ▼ 82.3% |
| Remuneration and social security454/9 | €1,500 | €3,305 | €771 | €3,379 | €3,489 | ▲ 3.2% |
| Other amounts payable47/48 | €37,990 | €32,177 | €58,129 | €17,793 | €19,543 | ▲ 9.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,058 | €5,631 | €34,620 | -€2,829 | €8,987 | ▲ 418% |
| + Depreciation and write-downs630 | €5,200 | €6,933 | €6,933 | €5,934 | €7,793 | ▲ 31.3% |
| Operating cash flow (approximation) | €18,258 | €12,564 | €41,553 | €3,105 | €16,780 | ▲ 440% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€35,453 | - |
| Change in cash | - | -€85 | -€7,656 | -€3,492 | €2,915 | ▲ 183% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €8,987
Net result €8,987 after one loss-making year.
11-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 42 days late
2024
31-12
Financial
Weakest financial yearnet -€2,829
Net result drops to -€2,829, the lowest in the series; recovery starts the following year.
28-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 59 days late
15-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 289 days late
2023
31-12
Financial
Highest result since 2021net €34,620 ▲515%
Operating result €47,001, net result €34,620, both a record.
2022
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not 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 1 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Fontaine-l'Evêque · 1 establishment unit since 2021
Ground area
853 m²
Building footprint
76 m²
Volume, LiDAR
476 m³
Parcel 52022A0203/02L002, Wallonia · tallest building 7.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue Henrichamps(F-E) 69, 6140 Fontaine-l'Evêque
since 20212.318.593.770
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52022A0203/02L002 | Wallonia | 853 m² | 1 · 76 m² | 7.1 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.
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Of 9,531 companies in this sector we hold annual accounts for 5,666. 4,307 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
Founded20-04-2021
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
Contact
Phone
0495/470507
E-invoicing
Reachable via Peppol
Peppol ID
0208:0766915652
Also
9925:BE0766915652
Registered
05-03-2026
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.