TOP-FROID
ActiveSummary
The computed 12-month bankruptcy probability of TOP-FROID is 2.2% (moderate). The 2025 annual accounts show equity of €162k and a net result of €121k. Equity is growing by ~28.9% per year across the filed fiscal years. Its solvency ranks better than 30% of 27786 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
65
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability95▲+6
Solvency53▼-28
Growth78=
Track record94
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days acceptable
Liquidity tight (current ratio 1.11 against 5.81 in 2024; short-term debt: 43.4% and cash: 41.2% of total assets), and 71.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 · 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
28.4%
Return on assets
21.3%
Age of the figures
9 mo
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 09-06-2026, 52 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
52 d early
2024
36 d early
2023
29 d early
2022
16 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€162k▼ 32.7%
2024 · €241k
2022: €72k
2023: €174k
2024: €241k
2022 → 2025
Total assets
€569k▲ 32.3%
2024 · €431k
2022: €90k
2023: €189k
2024: €431k
2022 → 2025
Net result
€121k▲ 76.4%
2024 · €69k
2022: €67k
2023: €103k
2024: €69k
2022 → 2025
Working capital
€28k▼ 75.7%
2024 · €116k
2022: €52k
2023: €153k
2024: €116k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€72k-€174k▲ 141%€241k▲ 38.6%€162k▼ 32.7%
Operating result€85k-€129k▲ 52.7%€88k▼ 32.1%€159k▲ 81.7%
Net result€67k-€103k▲ 53.7%€69k▼ 33.3%€121k▲ 76.4%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 82% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €569k
Fixed assets
€294k ▲ 1.3%
Current assets
€276k ▲ 95.9%
Equity and liabilities €569k
Equity
€162k ▼ 32.7%
Debt
€408k ▲ 115%
Debt's share of the balance-sheet total rises from 44.1% to 71.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€192k▲
2024 · €117k
Cash flow
€154k▲
2024 · €98k
Current ratio
1.11▼
2024 · 5.81
Quick ratio
1.05▼
2024 · 4.80
Debt to equity
2.52▲
2024 · 0.79
ROE
74.9%▲
2024 · 28.6%
ROA
21.3%▲
2024 · 16.0%
Interest coverage
25.34▲
2024 · 13.74
Debt ≤ 1 year
€247k▲
2024 · €24k
Debt > 1 year
€160k▼
2024 · €166k
Income taxes
€31k▲
2024 · €10k
Staff costs
€86k▲
2024 · €70k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 53 lines
Balance sheet
Code20242025
Assets
Total assets20/58€431k€569k▲
Fixed assets21/28€290k€294k▲
Tangible fixed assets22/27€290k€294k▲
Land and buildings22€230k€217k▼
Plant, machinery and equipment23€3k€3k▲
Furniture and vehicles24€57k€73k▲
Current assets29/58€141k€276k▲
Stocks and contracts in progress3€25k€16k▼
Stocks30/36€25k€16k▼
Amounts receivable within one year40/41€33k€18k▼
Trade receivables40€5k€7k▲
Other amounts receivable41€28k€10k▼
Cash at bank and in hand54/58€77k€235k▲
Deferred charges and accrued income490/1€6k€7k▲
Equity and liabilities
Total equity and liabilities10/49€431k€569k▲
Equity10/15€241k€162k▼
Contributions10/11€5k€5k=
Reserves13€236k€157k▼
Distributable reserves133€236k€157k▼
Amounts payable17/49€190k€408k▲
Amounts payable after more than one year17€166k€160k▼
Financial debts170/4€166k€160k▼
Amounts payable within one year42/48€24k€247k▲
Current portion of amounts payable after more than one year42€12k€15k▲
Trade debts44€792€301▼
Suppliers440/4€792€301▼
Advances received on contracts in progress46-€11k
Taxes, remuneration and social security45€5k€6k▲
Taxes450/3-€560
Remuneration and social security454/9€5k€6k▲
Other amounts payable47/48€7k€215k▲
Accrued charges and deferred income492/3€15-
Income statement
Code20242025
Non-recurring operating income76A€151-
Remuneration, social security and pensions62€70k€86k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€29k€32k▲
Other operating charges640/8€641€1k▲
Non-recurring operating charges66A-€43
Gross operating margin9900€188k€279k▲
Operating profit (loss)9901€88k€159k▲
Financial income75/76B€0€6▲
Recurring financial income75€0€6▲
Financial charges65/66B€8k€8k▼
Recurring financial charges65€8k€8k▼
Profit (loss) for the period before taxes9903€79k€152k▲
Income taxes67/77€10k€31k▲
Profit (loss) for the period9904€69k€121k▲
Profit (loss) for the period to be appropriated9905€69k€121k▲
Appropriation of the result
Profit (loss) to be appropriated9906€69k€121k▲
Transfer from equity791/2-€79k
Transfer to equity691/2€67k-
To other reserves6921€67k-
Profit to be distributed694/7€2k€200k▲
Return on contributions (dividend)694€2k€200k▲
The notes to these accounts (12 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
09-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2022net €121k ▲76.4%
Operating result €159k, net result €121k, both a record.
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €200kEq €241k ▲38.6%
3 profitable years in a row build equity to €241k.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity triplescurrent ratio 10.94
Current ratio from 3.92 to 10.94; short-term debt falls from €18k to €15k.
31-12
Financial
Equity above €150kEq €174k ▲141%
2 profitable years in a row build equity to €174k.
16-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 16 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Braine-l'Alleud · 1 establishment unit since 2022
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.
Grand'Route 5501428 Braine-l'AlleudGround area
1.5 ha
Building footprint
113 m²
2 parcels, Wallonia. Linked by address, not a title deed.
1 establishment unit
TOP-FROID
since 20222.325.988.437
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25054B0253/00R000 | Wallonia | 1.5 ha | - | - |
| 25764O0114/00G000 | Wallonia | 887 m² | 1 · 113 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels 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
AZ-GROUP
BE 0544.500.095
Mons · Eq €161,874
FEBA
BE 0540.822.708
Beveren-Kruibeke-Zwijndrecht · Eq €161,706
MATHIAAV
BE 0765.476.785
Erpe-Mere · Eq €162,112
KW COMPANY
BE 1010.832.842
Seraing · Eq €162,186
SANISTORMS
BE 0451.910.033
De Panne · Eq €161,522
Of 9,530 companies in sector 43222 we hold annual accounts for 5,662. 4,889 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded03-01-2022
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
71121Engineering and related technical consultancy, excluding land surveyors
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.