THERMOBRASS
ActiveTHERMOBRASS has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.13M and a net result of €208k. Equity is growing by ~16.5% per year across the filed fiscal years. Its solvency ranks better than 66% of 7983 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
77
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability76=
Solvency85▼-15
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €160k at 30 days acceptable
Liquidity ample (current ratio 10.94 against 5.46 in 2024; short-term debt: 5.8% and cash: 9.6% of total assets), and 39.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
60.1%
Return on assets
5.9%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
29 d late
2023
30 d late
2022
32 d late
2021
31 d late
2020
31 d late
2019
95 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
20-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€2.13M▼ 11.8%
2024 · €2.42M
2018: €698k
2019: €806k
2020: €1.16M
2021: €1.67M
2022: €1.92M
2023: €2.31M
2024: €2.42M
2018 → 2025
Total assets
€3.55M▲ 21.7%
2024 · €2.92M
2018: €1.46M
2019: €1.64M
2020: €1.95M
2021: €2.68M
2022: €2.47M
2023: €3.19M
2024: €2.92M
2018 → 2025
Net result
€208k▲ 21.6%
2024 · €171k
2018: €63k
2019: €108k
2020: €356k
2021: €512k
2022: €249k
2023: €387k
2024: €171k
2018 → 2025
Working capital
€2.06M▼ 3.8%
2024 · €2.14M
2018: €614k
2019: €681k
2020: €1.02M
2021: €1.64M
2022: €1.65M
2023: €2.22M
2024: €2.14M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.67M-€1.92M▲ 14.9%€2.31M▲ 20.1%€2.42M▲ 4.7%€2.13M▼ 11.8%
Operating result€732k-€357k▼ 51.2%€521k▲ 46.0%€215k▼ 58.7%€181k▼ 15.6%
Net result€512k-€249k▼ 51.3%€387k▲ 55.1%€171k▼ 55.7%€208k▲ 21.6%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 16% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.55M
Fixed assets
€1.29M▲ 329%
Current assets
€2.26M▼ 13.5%
Equity and liabilities €3.55M
Equity
€2.13M▼ 11.8%
Debt
€1.42M▲ 185%
The debt ratio rises from 17.1% to 39.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€280k▼
2024 · €285k
Cash flow
€307k▲
2024 · €241k
Solvency
60.1%▼
2024 · 82.9%
Current ratio
10.94▲
2024 · 5.46
Quick ratio
3.52▲
2024 · 2.65
Debt / equity
0.66▲
2024 · 0.21
ROE
9.8%▲
2024 · 7.1%
ROA
5.9%▼
2024 · 5.9%
Interest coverage
9.90▲
2024 · 8.16
Debt
€1.42M▲
2024 · €497k
Debt ≤ 1 year
€207k▼
2024 · €480k
Debt > 1 year
€889k
Income taxes
€39k▼
2024 · €44k
Staff costs
€280k▲
2024 · €193k
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€2.92M€3.55M▲
Fixed assets21/28€300k€1.29M▲
Tangible fixed assets22/27€299k€1.29M▲
Land and buildings22€169k€1.15M▲
Plant, machinery and equipment23€21k€59k▲
Furniture and vehicles24€110k€80k▼
Other tangible fixed assets26-€2k
Financial fixed assets28€165€165=
Current assets29/58€2.62M€2.26M▼
Stocks and contracts in progress3€1.34M€1.54M▲
Stocks30/36€1.34M€1.54M▲
Amounts receivable within one year40/41€302k€389k▲
Trade receivables40€220k€289k▲
Other amounts receivable41€82k€100k▲
Current investments50/53€703k-
Cash at bank and in hand54/58€260k€339k▲
Deferred charges and accrued income490/1€8k-
Equity and liabilities
Total equity and liabilities10/49€2.92M€3.55M▲
Equity10/15€2.42M€2.13M▼
Contributions10/11€113k€113k=
Reserves13€2.31M€1.81M▼
Distributable reserves133€2.31M€1.81M▼
Profit (loss) carried forward14-€208k
Amounts payable17/49€497k€1.42M▲
Amounts payable after more than one year17-€889k
Financial debts170/4-€889k
Amounts payable within one year42/48€480k€207k▼
Current portion of amounts payable after more than one year42-€36k
Trade debts44€94k€91k▼
Suppliers440/4€94k€91k▼
Advances received on contracts in progress46€8k€2k▼
Taxes, remuneration and social security45€153k€73k▼
Taxes450/3€52k€39k▼
Remuneration and social security454/9€102k€34k▼
Other amounts payable47/48€224k€5k▼
Accrued charges and deferred income492/3€18k€321k▲
Income statement
Code20242025
Remuneration, social security and pensions62€193k€280k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€70k€98k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€2k-
Other operating charges640/8€14k€14k▲
Non-recurring operating charges66A€239€9k▲
Gross operating margin9900€493k€582k▲
Operating profit (loss)9901€215k€181k▼
Financial income75/76B€35k€94k▲
Recurring financial income75€29k€94k▲
Non-recurring financial income76B€6k-
Financial charges65/66B€35k€28k▼
Recurring financial charges65€35k€28k▼
Profit (loss) for the period before taxes9903€215k€247k▲
Income taxes67/77€44k€39k▼
Profit (loss) for the period9904€171k€208k▲
Profit (loss) for the period to be appropriated9905€171k€208k▲
Appropriation of the result
Profit (loss) to be appropriated9906€171k€208k▲
Transfer from equity791/2€63k€494k▲
Transfer to equity691/2€171k-
To other reserves6921€171k-
Profit to be distributed694/7€63k€494k▲
Return on contributions (dividend)694€63k€494k▲
Social balance
Average headcount (FTE)90874.73.5▼
The notes to these accounts (10 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
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Liquidity doublescurrent ratio 10.94
Current ratio from 5.46 to 10.94; short-term debt falls from €480k to €207k.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
31-12
Financial
Equity above €2MEq €2.31M ▲20.1%
6 profitable years in a row build equity to €2.31M.
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 32 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Highest result since 2018net €512k ▲43.9%
Operating result €732k, net result €512k, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-12
Financial
Equity above €1MEq €1.16M ▲44.2%
3 profitable years in a row build equity to €1.16M.
03-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 95 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
16-11
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 108 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2014
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
03-11-2014
Resigned as Manager
Location & real-estate footprint
Registered office, Aarschot · 1 establishment unit since 2002
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.
Nieuwlandlaan 593200 AarschotGround area
4,992 m²
Building footprint
1,478 m²
Volume, LiDAR
8,785 m³
Parcel 24662F0089/00W000, Flanders · tallest building 7.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Nieuwlandlaan 59, 3200 Aarschot
since 20022.095.654.910
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24662F0089/00W000 | Flanders | 4,992 m² | 1 · 1,478 m² | 7.3 m · 2 fl. |
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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 7 entries · 33,423 EUR awarded · 32,541 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 3,780 EUR | 3,780 EUR |
| 2024 | 2 | 9,583 EUR | 9,913 EUR |
| 2023 | 2 | 10,630 EUR | 10,300 EUR |
| 2022 | 2 | 9,430 EUR | 8,548 EUR |
Schemes
Subsidies voor internationaal ondernemen
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 505 companies in sector 46841 we hold annual accounts for 365. 273 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded21-12-2001
Fiscal year end31-12
Activities, NACEBEL
46460Wholesale of pharmaceutical and medical goods
46841Wholesale trade
Sources
Crossroads Bank for EnterprisesNational Bank · 24 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.