THERMCO
ActiveTHERMCO has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €24k and a net result of €3k. Equity is growing by ~32% per year across the filed fiscal years. Its solvency ranks better than 58% of 27319 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
93
/ 100
Excellent▼ -1 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability68▼-32
Solvency97▲+14
Growth78=
Stability100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days acceptable
Liquidity ample (current ratio 2.13 against 1.65 in 2024), and 45.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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
Sector 43
higher
← 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
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
54.5%
Return on assets
7.5%
Age of the figures
8 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-09-2026, 40 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
40 d late
2024
28 d late
2023
26 d late
2022
27 d late
2021
30 d late
2020
30 d late
2019
90 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
12-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€24k▲ 15.9%
2024 · €21k
2018: €-24k
2019: €-20k
2020: €-16k
2021: €-24k
2022: €-5k
2023: €783
2024: €21k
2018 → 2025
Total assets
€45k▼ 2.9%
2024 · €46k
2018: €32k
2019: €31k
2020: €16k
2021: €19k
2022: €50k
2023: €49k
2024: €46k
2018 → 2025
Net result
€3k▼ 83.5%
2024 · €20k
2018: €-15k
2019: €4k
2020: €4k
2021: €-8k
2022: €19k
2023: €6k
2024: €20k
2018 → 2025
Working capital
€23k▲ 40.8%
2024 · €16k
2018: €-32k
2019: €-27k
2020: €-23k
2021: €-31k
2022: €-4k
2023: €-8k
2024: €16k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-24k-€-5k▲ 77.5%€783€21k▲ 2,587%€24k▲ 15.9%
Operating result€-6k-€23k€11k▼ 54.9%€29k▲ 171%€5k▼ 81.0%
Net result€-8k-€19k€6k▼ 66.8%€20k▲ 223%€3k▼ 83.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 81% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €45k
Fixed assets
€1k▼ 71.0%
Current assets
€43k▲ 4.8%
Equity and liabilities €45k
Equity
€24k▲ 15.9%
Debt
€20k▼ 18.7%
The debt ratio falls from 54.4% to 45.5%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€9k▼
2024 · €32k
Cash flow
€7k▼
2024 · €24k
Solvency
54.5%▲
2024 · 45.6%
Current ratio
2.13▲
2024 · 1.65
Quick ratio
2.13▲
2024 · 1.65
Debt / equity
0.84▼
2024 · 1.19
ROE
13.7%▼
2024 · 96.3%
ROA
7.5%▼
2024 · 43.9%
Interest coverage
10.97▼
2024 · 32.57
Debt
€20k▼
2024 · €25k
Debt ≤ 1 year
€20k▼
2024 · €25k
Income taxes
€2k▼
2024 · €7k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€46k€45k▼
Fixed assets21/28€5k€1k▼
Tangible fixed assets22/27€5k€1k▼
Plant, machinery and equipment23€2k€616▼
Furniture and vehicles24€3k€750▼
Current assets29/58€41k€43k▲
Amounts receivable within one year40/41€13k€12k▼
Trade receivables40€8k€2k▼
Other amounts receivable41€5k€10k▲
Cash at bank and in hand54/58€26k€29k▲
Deferred charges and accrued income490/1€2k€2k▲
Equity and liabilities
Total equity and liabilities10/49€46k€45k▼
Equity10/15€21k€24k▲
Contributions10/11€19k€19k=
Reserves13€2k€5k▲
Distributable reserves133€2k€5k▲
Profit (loss) carried forward14€497€777▲
Amounts payable17/49€25k€20k▼
Amounts payable within one year42/48€25k€20k▼
Trade debts44€1k€1k▼
Suppliers440/4€1k€1k▼
Taxes, remuneration and social security45€11k€9k▼
Taxes450/3€11k€9k▼
Other amounts payable47/48€13k€10k▼
Accrued charges and deferred income492/3€18-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€3k▼
Other operating charges640/8€894€748▼
Non-recurring operating charges66A€2k-
Gross operating margin9900€35k€10k▼
Operating profit (loss)9901€29k€5k▼
Financial income75/76B€38€229▲
Recurring financial income75€38€229▲
Financial charges65/66B€997€800▼
Recurring financial charges65€997€800▼
Profit (loss) for the period before taxes9903€28k€5k▼
Income taxes67/77€7k€2k▼
Profit (loss) for the period9904€20k€3k▼
Profit (loss) for the period to be appropriated9905€20k€3k▼
Appropriation of the result
Profit (loss) to be appropriated9906€497€4k▲
Profit (loss) brought forward from the previous period14P€-20k€497▲
Transfer to equity691/2-€3k
To other reserves6921-€3k
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
09-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 40 days late
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
31-12
Financial
Highest result since 2018net €20k ▲223%
Operating result €29k, net result €20k, both a record.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
27-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 27 days late
2022
31-12
Financial
Back to profitnet €19k
Net result €19k after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 90 days late
2019
31-12
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 director, no change since 2023
Jean-Claude L’Hoir
CurrentDirector (executive) · since 21-12-2023
21-12-2023
Appointed as Director (executive)
Location & real-estate footprint
Registered office, La Bruyère · 1 establishment unit since 1987
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue des Bailleries, Meux 245081 La BruyèreGround area
2,234 m²
Building footprint
125 m²
Parcel 92088C0584/00S000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Rue des Bailleries, Meux 24, 5081 La Bruyère
since 19872.032.614.907
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92088C0584/00S000 | Wallonia | 2,234 m² | 1 · 125 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
HWR
BE 0779.952.452
Mouscron · Eq €24k
OLTS
BE 1004.776.181
Ohey · Eq €24k
JOCKS DEPANNAGE
BE 0711.736.312
Zaventem · Eq €24k
MARCHAL FRERES
BE 0430.028.318
Genappe · Eq €24k
Heirman Verwarming
BE 0771.680.332
Holsbeek · Eq €24k
Of 9,478 companies in sector 43222 we hold annual accounts for 5,626. 3,756 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-03-1987
Fiscal year end31-12
Activities, NACEBEL
43222Installation of electric heating, air conditioning, cooling and ventilation
Sources
Crossroads Bank for EnterprisesNational Bank · 39 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.