Financials
- Fiscal year
- 2025
- Total assets
- €33,161
- Loss
- -€65
- Solvency
- 4.5%
Turnover▲ 27.9%
Net result
20232024
THERMALPLUG
ActiveSummary
THERMALPLUG has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1,494 and a net result of -€65. Equity is growing by ~44.1% per year across the filed fiscal years. Its solvency ranks better than 22% of 12348 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
What they do
Wholesale of other machinery and equipment
NACE 46649NACE 46699
1 site
How big
€33,161total assets 2025
- Equity
- €1,494
- Loss
- -€65
Turnover not published (abridged schema)
Who decides
- Board
- 2 members
Accounts 50 d early1 of 5 deeds read
Why 88- Equity €1,494 (4.5% of total assets)+ Size: total assets €33,161+ Founded in 2012+ Liquidity: current ratio 1.05, cash €17,618Show the evidence
Checked score
Score 2025
88
/ 100
Excellent
Probability in this band: under 0.55%
Better than 33% of its sector peers (NACE 46, micro)
Performance against the sector, not lower risk
Financial strength · tick = 2024
Weak
Solvency
30+1
equity 4.5% of total assets
Liquidity
50+35
short-term debt 95.5% · cash 53.1%
Profitability
37-36
return on assets -0.2%
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 3 months
08-2026: 0.2%highest value
09-2026: 0.2%● 0.0% vs 08-2026highest value
10-2026: 0.2%● 0.0% vs 09-2026highest value
- Size: total assets €33,161 lowers the probability for this profile
- Founded in 2012 lowers the probability for this profile
- Liquidity: current ratio 1.05, cash €17,618 lowers the probability
- Equity €1,494 (4.5% of total assets) raises the probability
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 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% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 46, micro). Better than this share of them on solvency 19%, liquidity 51%, profitability 30%, growth against the median 32%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 02-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 12348 sector peers (2025).
NBB · sector comparisonPosition among 12348 sector peers
Solvency
better than 22%
← weakest
strongest →
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 11-06-2026, 50 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
50 d early
2024
42 d early
2023
27 d early
2022
34 d early
2021
37 d early
2020
38 d early
2019
19 d late
← 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 30 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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 24 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
02-10-2026 today31-12-2026 close31-07-2027 deadline
- Reappointments: Daniel Brismee, Luc Bühlmann and…Power of attorney
- Annual accounts filedfiscal year 2025 · micro…
- Annual accounts filedfiscal year 2024 · micro…
Key points
By topic
Board & ownership
- Board
- 2 members
Go to Board & ownership
Timeline
- Events
- 14
- Since
- 2017
- Next accounts
- by 31-07-2027
- 03-07-2026Reappointments: Daniel Brismee, Luc Bühlmann and Brice…
- 11-06-2026Annual accounts filed
- 19-06-2025Annual accounts filed
Company details
- Sites
- 1
- Legal form
- Private limited company
- Activity
- Wholesale of other machinery and equipmentNACE 46649
- Founded
- 23-05-2012
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
Articles of association
- Provisions read
- 1
See the provisions in the deeds
Go to Articles of associationGo further with this company
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