Equity
€2.1m ▼ 11.8%
THERMOBRASS paid out €494,335 in dividends. That is 237% of the 2025 profit.
THERMOBRASS
Lifetime
20 annual accounts with figures on one time axis, 24 filings since 2002Gross marginpeak €985,819 (2021)
€582,487▲ 18.0%
Resultlowest -€36,818 (2009)
€208,483▲ 21.6%
Equitypeak €2.4m (2024)
€2.1m▼ 11.8%
Debts
€1.4m▲ 185%
Staffpeak 4.7 FTE (2022)
3.5 FTE▼ 25.5%
Board4 names since 2021
3 directorsBenjamin Wouters and 2 others
Owners
76%WO3LF
Documentsfilings and deeds
29-07-20262 days before the deadline
2025abbreviated format
Gross margin from €493,456 to €582,487Staff from 4.7 FTE to 3.5 FTEDividend €494,335Debts from €497,454 to €1.4mInvestments €1.1mCash from €260,483 to €339,300
Key points
from the 2025 annual accountsInvestments
€1.1m 11.0 × depreciation
Green is investment, beige is depreciation. Land and buildings stand 578.7% higher than in 2024.
Liquidity
10.94 was 5.46 in 2024
Short-term debts fell from €479,652 to €206,957.
Filings
24 annual accounts since 2002
Nine of the last ten came late. The 2017 accounts came latest: 108 days after the end of the period.
Board
1 joined · 1 left
Board changed. Latest change 10-03-2026 · 3 in office.
Position in the sector
€2.1m
More equity than 90% of companies in wholesale trade. Sector median €362,635 · 9,861 companies.
Checked score
95
Excellent
Financially stronger than 56% of micro companies in wholesale trade (NACE 46)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 26,896 companies (NACE 46, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.2%▲ +0.1 percentage points vs 06-2025
08-2025: 0.2%● unchanged vs 07-2025
09-2025: 0.3%▲ +0.1 percentage points vs 08-2025highest value
10-2025: 0.1%▼ -0.2 percentage points vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: < 0.1%▼ -0.1 percentage points vs 07-2026lowest value
09-2026: < 0.1%● unchanged vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026lowest value
11-2026: < 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
lowers risk
Size: 3.5 FTE, total assets €3.6m
Founded in 2001
Figures for financial year 2025 (filed on 29-07-2026)
Equity €2.1m (60.1% of total assets)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, micro). It does better than 66% of them on solvency, 68% on liquidity, 65% on profitability and 24% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 31,368 companies had the same profile as THERMOBRASS has now. Each dot stands for 79 companies, two years later.
93.5%
were still trading
5.9%
stopped another way
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of THERMOBRASS itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 31,368 companies, not a prediction for THERMOBRASS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €200,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 10.94 (5.46 in 2024), above the usual 1.5. Short-term debt is 5.8% and cash 9.6% of total assets. 39.9% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
5 signals, none raises the risk
Five signals.
lowers riskneutral
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 days early
2024
29 days late
2023
30 days late
2022
32 days late
2021
31 days late
2020
31 days late
2019
95 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 35 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 31 August (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
05-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
1 director appointed, 1 resignation
Resignation: Benjamin Wouters · Appointment: WO3LF bv · Permanent representative: Maarten Wouters · General meeting of 30-12-2025 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0476398276
Amendment of the articles · Legal-form change · Resignations & appointments
General meeting of 24-08-2023 · Gazette deed
Environmental permit granted
Bouwen of herbouwen · Aarschot
Comparable companies
same main activity, similar in size and age| Company | Total assets | Gross margin | Solvency | Staff |
|---|---|---|---|---|
| THERMOBRASS Aarschot | €3.6m | €582,487 | 60.1% | 3.5 |
| Stuckens Steel Buggenhout | €3.9m | €758,201 | 81.7% | 3 |
| ALTUS Bruges | €2.5m | €706,268 | 63.9% | 4.6 |
| FRENI AG Saint-Vith | €2.9m | €356,840 | 35.9% | 2.8 |
| PRODUCTION AND SERVICES GROUP La Louvière | €4.6m | €542,776 | 55.3% | 5 |
| SULMON Waregem | €4.1m | €583,783 | 95.4% | 2 |
| BORU FRANCE BENELUX Oosterzele | €3.1m | €441,764 | 39.8% | 2 |
These companies have the same main activity as THERMOBRASS: wholesale trade (NACE 46841). They are comparable in size and age: total assets between €2.5m and €4.6m, founded between 1998 and 2005.
Official details
Source: KBO- Status
- Active since 21-12-2001Normal situation
- Activity
- Wholesale tradeNACE 46841and 1 other
- Establishment unit
- 2.095.654.9103200 Aarschot, since 13-02-2002
- Financial year end
- 31 December
- Peppol
- Reachable since 03-12-2025
Annual accounts 2025
- Turnover
- ≈ €3.0mestimated
- Total assets
- €3.6m▲ 21.7%
- Employeeson 31-12-2025
- 4=
- Filing
- Filed on 29-07-2026, 2 days before the end of the filing period
Insights on THERMOBRASS
THERMOBRASS files the abbreviated format. That format states no turnover. The gross margin rose from €252,006 in 2006 to €582,487 in 2025.
WO3LF holds 76% of the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about THERMOBRASS
- What is the company number of THERMOBRASS?
- The company number of THERMOBRASS is 0476.398.276. The VAT number is the same number with BE in front: BE 0476.398.276.
- Where is THERMOBRASS based?
- The registered office is at Nieuwlandlaan 59, 3200 Aarschot.Company details
- What does THERMOBRASS do?
- According to the KBO register, the main activity is wholesale trade (NACE 46841).
- What is the legal form of THERMOBRASS?
- THERMOBRASS is a private limited company (BV).
- When was THERMOBRASS founded?
- THERMOBRASS was founded on 21-12-2001.
- Is THERMOBRASS still active?
- Yes, THERMOBRASS is an active enterprise in the KBO register.
- How many employees does THERMOBRASS have?
- THERMOBRASS had an average of 3.5 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of THERMOBRASS?
- The turnover in financial year 2025 is ≈ €3.0m. This figure is estimated from the gross margin of €582,487 and 139 comparable companies (NACE 46). It probably lies between €1.9m and €5.0m.
- Is THERMOBRASS profitable?
- In financial year 2025, THERMOBRASS made a profit of €208,483.
- Where can I find the annual accounts of THERMOBRASS?
- THERMOBRASS filed 24 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of THERMOBRASS due?
- THERMOBRASS must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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