Age10 yrs
Real estate1 parcel · 315 m²
Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of THERMO-EXPERT is 3.2% (moderate). The 2023 annual accounts show negative equity (€-7k) and a net result of €31k. Equity remains stable across the filed fiscal years (±2.4% per year). Its solvency ranks better than 9% of 9183 sector peers (fiscal year 2023). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 6 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone3.2%
Moderate
0%0,5%1,5%4%10%≥25%
Higher-failure-rate sector
+Higher-failure-rate region
+Annual accounts: weaker financial profile
+
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Signals
2 signals · with evidenceWeak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 9183 sector peers (2023).
View the sector comparison Consistently profitable
Positive net result in the two most recent financial years (2022 and 2023).
View the result trend Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.
Filing behaviour
From the deposit records, complete market-wideAnnual accounts not filed
The financial year that closed on 31-12-2024 was due at the National Bank by 31-07-2025. Nothing is on record today, 397 days later. 2 financial years are missing in total. Measured on financial year 2023: 41.75% of the companies that did not file are in an abnormal legal state today, against 1.66% of those that did.
Filed after the deadline
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 30-08-2024, 30 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.
How we compute the deadline
The year end is derived from 8 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2023, that is 31-07-2024.
Deadline per financial year
| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 31-12-2025 | 31-07-2026 | nothing on record | not filed | - |
| 31-12-2024 | 31-07-2025 | nothing on record | not filed | - |
| 31-12-2023 | 31-07-2024 | 30-08-2024 | 30 d late | 2024-00429897 |
| 31-12-2022 | 31-07-2023 | 04-06-2024 | 309 d late | 2024-00109583 |
| 31-12-2021 | 31-07-2022 | 04-06-2024 | 674 d late | 2024-00108303 |
| 31-12-2020 | 31-07-2021 | 30-04-2022 | 273 d late | 2022-20016306 |
| 31-12-2019 | 31-07-2020 | 27-10-2020 | 88 d late | 2020-64400522 |
| 31-12-2018 | 31-07-2019 | 30-09-2019 | 61 d late | 2019-67400340 |
| 31-12-2017 | 31-07-2018 | 07-08-2018 | 7 d late | 2018-44000488 |
| 31-12-2016 | 31-07-2017 | 16-09-2017 | 47 d late | 2017-61300458 |
Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
2 signalsEstablished
Founded in 2015, 10 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Financials
TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€31k+392.0%
Working capital€-23k+64.5%
Annual accounts & ratios
Source: NBB · 2023Annual accounts filed on 30-08-2024 with the NBB · fiscal year 2023 · micro
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
stable
Equity: stable across 6 fiscal years (±2.4%/year).
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2023 · NACE 43, Specialised construction · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -2.6% | 38.6% | |
| Net result | €31k | €12k | |
| Equity | €-7k | €30k | |
| Gross operating margin | €43k | €33k | |
| Total assets | €277k | €90k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P9
Stable position over 2020-2023
· n=1741-9183
P76
Improving position over 2020-2023
· n=1735-9168
P5
Stable position over 2020-2023
· n=1744-9190
P58
Improving position over 2020-2023
· n=1733-9157
Describes the position versus peers, not a forecast.
€43k
+128.2%
18-23
€31k
+392.0%
18-23
€42k
+130.5%
18-23
€277k
+17.5%
18-23
€-7k
+81.4%
18-23
€-23k
+64.5%
18-23
€220
-
18-23
€395
+34.7%
18-23
Show 9 other metrics
€284k
+3.6%
18-23
€284k
+3.6%
18-23
0.92
+20.5%
18-23
0.92
+20.5%
18-23
-2.6%
+84.2%
18-23
-39.77
-458.0%
18-23
-438.6%
-2550.4%
18-23
11.3%
+318.8%
18-23
304.71
+127.1%
18-23
Figures by fiscal year
| Fiscal year | 2023 |
|---|---|
| Deposit | micro |
| Revenue | - |
| EBITDA | €43k |
| Net profit | €31k |
| Cash flow | €42k |
| Staff costs | - |
| Income taxes | €395 |
| Dividends | - |
| Total assets | €277k |
| Equity | €-7k |
| Debt | €284k |
| of which ≤ 1y | €284k |
| of which > 1y | - |
| Working capital | €-23k |
| Employees (FTE) | - |
Ratios (computed)
| 2023 | |
|---|---|
| Current ratio | 0.92 |
| Quick ratio | 0.92 |
| Working capital ratio | -8.3% |
| Solvency | -2.6% |
| Debt / equity | -39.77 |
| Long-term debt ratio | - |
| Interest coverage | 304.71 |
| Gross margin | - |
| Net margin | - |
| ROA | 11.3% |
| ROE | -438.6% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2023
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2023 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €277k |
| Fixed assets | 21/28 | €16k |
| Tangible fixed assets | 22/27 | €16k |
| Financial fixed assets | 28 | €250 |
| Current assets | 29/58 | €261k |
| Amounts receivable within one year | 40/41 | €211k |
| Cash & bank | 54/58 | €46k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €277k |
| Equity | 10/15 | €-7k |
| Contributions / capital | 10/11 | €19k |
| Reserves | 13 | €495 |
| Accumulated profits (losses) | 14 | €-26k |
| Amounts payable | 17/49 | €284k |
| Amounts payable within one year | 42/48 | €284k |
| Trade debts payable within one year | 44 | €121k |
| Income statement | ||
| Gross operating margin | 9900 | €43k |
| Operating result | 9901 | €32k |
| Financial income | 75 | €0 |
| Financial charges | 65 | €140 |
| Result before taxes | 9903 | €32k |
| Income taxes | 67/77 | €395 |
| Net result for the period | 9904 | €31k |
| Result to be appropriated | 9905 | €31k |
This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2023 · computed21
/ 100
Critical
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.
See plans →Computed by Checked from the NBB filing for FY 2023. Indicative, not credit advice.
Structure & network
Locations & real estate
Registered office
on the map · from the address registerEstablishment units
1 locationTHERMO-EXPERT
since 20152.248.894.916
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area315 m²
Buildings1
Building footprint315 m²
Volume (LiDAR)8,291 m³
Tallest building32.3 m · ±10 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21812N1396/00W000 | Brussels | 315 m² | 1 · 315 m² | 32.3 m · 10 fl. |
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.
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
1 act Address history · 1
28-07-2023
Registered-office move
All acts · 1
updated 3 years ago
2023
28-07-2023 Registered office moved to Bruxelles
- 25, Quai du Commerce - 1000 Bruxelles
Analysis
Financial profile
5 of 5 axes measured44
/ 100
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
Health
21
Profitability
0
Solvency
43
Growth
58
Stability
100
Credit advice
verdict per customer and amountSimilar
Similar companies
Comparable size, same sectorBE 0782.472.571 · Wanze
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BE 1002.898.836 · Gent
BE 0759.963.029 · Les Bons Villers
BE 1002.646.141 · Sint-Genesius-Rode
We hold annual accounts for 1,450 of the 9,505 companies in this sector. 1,132 of them are within a factor 10 of this company's equity.
Company registry
Company registry (CBE)
Crossroads BankActivities
Installatie van verwarming, klimaatregeling, koeling en ventilatie aangedreven door elektriciteit43222Installatie van industriële machines, toestellen en werktuigen33200Sanitaire werkzaamheden43221Groothandel in auto's en lichte bestelwagens (<= 3,5 ton)46711Handelsbemiddeling in auto's en lichte bestelwagens (= 3,5 ton)45112Groothandel in andere motorvoertuigen (> 3,5 ton)46712Handelsbemiddeling in andere motorvoertuigen (> 3,5 ton)45192Handelsbemiddeling in de groothandel in andere specifieke goederen46180
Primary activity highlighted.
Names & trade names
| Legal nameFR | THERMO-EXPERT |
Registered office
Handelskaai 25
1000 Brussel, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.