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Vaartwarmte

Active
Private limited companyfounded 20224 yrs activeKempenlaan 2, 2300 Turnhout, BelgiumKBO/BCE: BE 0783.383.777
Summary

Vaartwarmte has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2,852 and a net result of -€2,553. The computed 12-month bankruptcy probability is 1.1% (low).

Checked score

Score 2024
Axes · tick = 2023
Profitability18=
Solvency26=
Growth58
Track record94
Bankruptcy probability, 12 months
1.1% Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Liquidity short (current ratio 0.06 against 83.88 in 2023; short-term debt: 0.1% and cash: 0% of total assets), and 99.5% of the assets are financed with debt.
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Signals

Four 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 date
Age against the risk zone
highest failure risk from 2 to 8 years 4 years 0 10 y
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 35
Relative position
BE, all sectors
reference
Electricity, gas, steam and air conditioning supply (NACE 35)
about 42% fewer bankruptcies
← fewer bankruptcies more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024
Solvency, return and age of the figures
Solvency
0.5%
Return on assets
-0.4%
Age of the figures
21 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 18-06-2026, 43 days ahead of the deadline.
NBB · 3 filings
Deviation from the deadline
2025
43 d early
2024
44 d early
2023
49 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 3 accounts on average 45 days before the deadline; the sector median for financial year 2024 is 22 days before the deadline, and 27% of the sector filed late.

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. Usually files around 17 June (3 of the last 3 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

Vaartwarmte was incorporated on 14 March 2022 as a Private limited company.1 The company has filed 3 sets of annual accounts, the latest for fiscal year 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2025

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Financials · fiscal year 2024, abbreviated schema

Equity
€2,852▼ 47.2%
2023 · €5,405
Total assets
€569,848▲ 14.1%
2023 · €499,383
Net result
-€2,553▲ 44.4%
2023 · -€4,595
Working capital
-€396
2023 · €6,925
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 35, Electricity, gas, steam and air conditioning supply, each year against the same schema; no band under 30 filings. Dashed line: the median.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20232024
Operating result-€3,312--€1,953▲ 41.0%
Net result-€4,595below the sector's middle half--€2,553within the sector's middle half▲ 44.4%
Equity€5,405below the sector's middle half-€2,852below the sector's middle half▼ 47.2%
Total assets€499,383below the sector's middle half-€569,848below the sector's middle half▲ 14.1%
Debt€493,978-€566,996▲ 14.8%
Working capital€6,925within the sector's middle half--€396within the sector's middle half
Solvency1.1%below the sector's middle half-0.5%below the sector's middle half▼ 0.6pp
Current ratio83.88above the sector's middle half-0.06below the sector's middle half▼ 83.81
Return on assets (ROA)-0.9%below the sector's middle half--0.4%within the sector's middle half▲ 0.5pp
Staff (FTE)0within the sector's middle half-0within the sector's middle half
above within below the middle half (P25 to P75) of NACE 35, Electricity, gas, steam and air conditioning supply, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
-€6,000-€4,000-€2,000€0Operating result 2023: -€3,312-€3,312Net result 2023: -€4,595-€4,595Operating result 2024: -€1,953-€1,953Net result 2024: -€2,553-€2,55320232024-€6,000-€4,000-€2,000€0Operating result 2023: -€3,312-€3,310Net result 2023: -€4,595-€4,590Operating result 2024: -€1,953-€1,950Net result 2024: -€2,553-€2,55020232024
The operating result stays negative: a loss of €1,953 in 2024 against €3,312 in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €569,535
Fixed assets €569,509 ▲ 15.8%
Current assets €27 ▼ 99.6%
Equity and liabilities €569,848
Equity €2,852 ▼ 47.2%
Debt €566,996 ▲ 14.8%
Debt's share of the balance-sheet total rises from 98.9% to 99.5%. Equity is lower and debt is higher.
Key figures and ratios
2024 value · change against 2023
EBITDA
-€1,811▲
2023 · -€3,055
Cash flow
-€2,411▲
2023 · -€4,339
ROE
-89.5%▼
2023 · -85.0%
Interest coverage
-3.02▼
2023 · -2.38
Debt ≤ 1 year
€422▲
2023 · €84
Debt > 1 year
€500,836▲
2023 · €460,013
A ratio outside any meaningful range has been withheld (balance sheet total €569,848, equity €2,852).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 865 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 97% are still going.

  • Small
  • 2 to 5 years old
  • solvency under 10%
  • a small loss
1.5% went bankrupt
1.7% stopped otherwise
97% still going

A further 0.1% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 1.1% over twelve months; the group does not contradict it.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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% 1.0%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.9%
9 3.0% 3.1%
10 5.6% 6.2%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 865 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts
Filed annual accounts As filed with the NBB · 2024 against 2023 · 34 lines
Balance sheet Code20232024
Assets
Total assets20/58€499,383€569,848▲
Formation expenses20€455€312▼
Fixed assets21/28€491,919€569,509▲
Intangible fixed assets21€491,919€569,509▲
Current assets29/58€7,009€27▼
Amounts receivable within one year40/41€7,009€0▼
Other amounts receivable41€7,009€0▼
Cash at bank and in hand54/58-€27
Equity and liabilities
Total equity and liabilities10/49€499,383€569,848▲
Equity10/15€5,405€2,852▼
Contributions10/11€10,000€10,000=
Profit (loss) carried forward14-€4,595-€7,148▼
Amounts payable17/49€493,978€566,996▲
Amounts payable after more than one year17€460,013€500,836▲
Other amounts payable178/9€460,013€500,836▲
Amounts payable within one year42/48€84€422▲
Financial debts43€84€0▼
Credit institutions430/8€84€0▼
Trade debts44-€152
Suppliers440/4-€152
Other amounts payable47/48-€270
Accrued charges and deferred income492/3€33,881€65,737▲
Income statement Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€256€142▼
Other operating charges640/8€1,532€725▼
Gross operating margin9900-€1,523-€1,085▲
Operating profit (loss)9901-€3,312-€1,953▲
Financial charges65/66B€1,283€600▼
Recurring financial charges65€1,283€600▼
Profit (loss) for the period before taxes9903-€4,595-€2,553▲
Profit (loss) for the period9904-€4,595-€2,553▲
Profit (loss) for the period to be appropriated9905-€4,595-€2,553▲
Appropriation of the result
Profit (loss) to be appropriated9906-€4,595-€7,148▼
Profit (loss) brought forward from the previous period14P--€4,595
Social balance
Average headcount (FTE)90870.00.0=

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20232024Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€256€142▼ 44.5%
Other operating charges640/8€1,532€725▼ 52.7%
Gross operating margin9900-€1,523-€1,085▲ 28.8%
Operating profit (loss)9901-€3,312-€1,953▲ 41.0%
Financial charges65/66B€1,283€600▼ 53.2%
Recurring financial charges65€1,283€600▼ 53.2%
Profit (loss) for the period before taxes9903-€4,595-€2,553▲ 44.4%
Profit (loss) for the period9904-€4,595-€2,553▲ 44.4%
Profit (loss) for the period to be appropriated9905-€4,595-€2,553▲ 44.4%
Line20232024Change
Assets
Total assets20/58€499,383€569,848▲ 14.1%
Formation expenses20€455€312▼ 31.3%
Fixed assets21/28€491,919€569,509▲ 15.8%
Intangible fixed assets21€491,919€569,509▲ 15.8%
Current assets29/58€7,009€27▼ 99.6%
Amounts receivable within one year40/41€7,009€0▼ 100%
Other amounts receivable41€7,009€0▼ 100%
Cash at bank and in hand54/58-€27-
Equity and liabilities
Total equity and liabilities10/49€499,383€569,848▲ 14.1%
Equity10/15€5,405€2,852▼ 47.2%
Contributions10/11€10,000€10,000=
Profit (loss) carried forward14-€4,595-€7,148▼ 55.6%
Amounts payable17/49€493,978€566,996▲ 14.8%
Amounts payable after more than one year17€460,013€500,836▲ 8.9%
Other amounts payable178/9€460,013€500,836▲ 8.9%
Amounts payable within one year42/48€84€422▲ 405%
Financial debts43€84€0▼ 100%
Credit institutions430/8€84€0▼ 100%
Trade debts44-€152-
Suppliers440/4-€152-
Other amounts payable47/48-€270-
Accrued charges and deferred income492/3€33,881€65,737▲ 94.0%
Line20232024Change
Profit (loss) for the period9904-€4,595-€2,553▲ 44.4%
+ Depreciation and write-downs630€256€142▼ 44.5%
Operating cash flow (approximation)-€4,339-€2,411▲ 44.4%
Investment in fixed assets (approximation)--€77,732-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
18-06
NBB filing Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
17-06
NBB filing Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
12-06
NBB filing Annual accounts filed
fiscal year 2023 · abbreviated schema
NBB filing
0 of 4 acts read
About the unread acts

We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

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Directors · office · real estate

Directors
4 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, Turnhout · 1 establishment unit since 2022
seat establishment The establishment unit on the map
Ground area
1.1 ha
Building footprint
2,441 m²
Volume, LiDAR
14,450 m³
2 parcels, Flanders · tallest building 21.4 m, ±2 floors. Linked by address, not a title deed.
17 companies at this address See who is registered here
1 establishment unit
Vaartwarmte
De Populierkens 1, 2350 VosselaarElectricity, gas, steam and air conditioning supply
since 20222.330.701.152
2 parcels
Flanders 2 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
13453O0027/00S003 Flanders 9,976 m² 1 · 2,291 m² 21.4 m · 2 fl.
13046C0011/00C015 Flanders 1,368 m² 1 · 150 m² 7.3 m · 2 fl.
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Structure & network

Owners and holdings

1 owner

Chain of control

  1. WARM 100%
  2. Vaartwarmte

Highest known parent: WARM. The sources do not say who stands above it.

Owners 1

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Public money · subsidies and aid

Flemish government

2022 · 1 entry · 741,806 EUR awarded
Year Entries awardedpaid
2022 1 741,806 EUR0 EUR
Schemes
1 entry · 741,806 EUR · Vlaams Energie- en Klimaatagentschap

Similar companies · same sector, comparable size

Of 84 companies in sector 35300 we hold annual accounts for 63. 5 are within a factor 10 of this equity. See the whole sector

Identification & contact

Identification
Legal formPrivate limited company
Founded14-03-2022
Fiscal year end31-12
Activities, NACEBEL 2025
35300Electricity, gas, steam and air conditioning supply
43211General electrical installation work
43222Installation of electric heating, air conditioning, cooling and ventilation
71121Engineering and related technical consultancy, excluding land surveyors
E-invoicing
Reachable via Peppol
Peppol ID 0208:0783383777
Registered 02-01-2026

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 29 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.