VALUTHERM
ActiveVALUTHERM has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €576k and a net result of €111k. Equity is growing by ~12.8% per year across the filed fiscal years. Its solvency ranks better than 79% of 7426 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
100
/ 100
Excellent= vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability97▼-3
Solvency100▲+3
Growth78=
Stability100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days acceptable
Liquidity ample (current ratio 3.65 against 2.19 in 2023), and 31.5% of the assets are financed with debt.
Credit advice 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 · 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 · 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 2024Solvency, return and age of the figures
Solvency
68.5%
Return on assets
13.2%
Age of the figures
20 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 03-07-2025, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
28 d early
2023
35 d early
2022
34 d early
2021
31 d early
2020
16 d early
2019
8 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€576k▲ 23.9%
2023 · €464k
2018: €262k
2020: €323k
2021: €342k
2022: €364k
2023: €464k
2018 → 2024
Total assets
€840k▼ 2.8%
2023 · €864k
2018: €899k
2020: €751k
2021: €770k
2022: €773k
2023: €864k
2018 → 2024
Net result
€111k▲ 10.6%
2023 · €101k
2018: €24k
2020: €22k
2021: €19k
2022: €22k
2023: €101k
2018 → 2024
Working capital
€387k▲ 15.3%
2023 · €336k
2018: €117k
2020: €197k
2021: €199k
2022: €224k
2023: €336k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€323k-€342k▲ 5.8%€364k▲ 6.3%€464k▲ 27.6%€576k▲ 23.9%
Operating result€51k-€42k▼ 17.5%€44k▲ 5.9%€159k▲ 259%€168k▲ 6.0%
Net result€22k-€19k▼ 12.3%€22k▲ 14.6%€101k▲ 364%€111k▲ 10.6%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 6% above 2023 and is the highest year so far.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €840k
Fixed assets
€306k▲ 24.6%
Current assets
€534k▼ 13.7%
Equity and liabilities €840k
Equity
€576k▲ 23.9%
Debt
€264k▼ 33.9%
The debt ratio falls from 46.3% to 31.5%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€222k▲
2023 · €216k
Cash flow
€164k▲
2023 · €158k
Solvency
68.5%▲
2023 · 53.7%
Current ratio
3.65▲
2023 · 2.19
Quick ratio
2.66▲
2023 · 1.57
Debt / equity
0.46▼
2023 · 0.86
ROE
19.3%▼
2023 · 21.7%
ROA
13.2%▲
2023 · 11.6%
Interest coverage
13.56▲
2023 · 10.17
Debt
€264k▼
2023 · €400k
Debt ≤ 1 year
€146k▼
2023 · €283k
Debt > 1 year
€118k▲
2023 · €117k
Income taxes
€48k▲
2023 · €43k
Staff costs
€319k▲
2023 · €304k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€864k€840k▼
Fixed assets21/28€246k€306k▲
Tangible fixed assets22/27€245k€306k▲
Land and buildings22€199k€179k▼
Plant, machinery and equipment23€4k€4k▼
Furniture and vehicles24€42k€124k▲
Financial fixed assets28€135€135=
Current assets29/58€619k€534k▼
Stocks and contracts in progress3€174k€145k▼
Stocks30/36€174k€145k▼
Amounts receivable within one year40/41€48k€107k▲
Trade receivables40€38k€80k▲
Other amounts receivable41€10k€28k▲
Cash at bank and in hand54/58€396k€278k▼
Deferred charges and accrued income490/1€2k€4k▲
Equity and liabilities
Total equity and liabilities10/49€864k€840k▼
Equity10/15€464k€576k▲
Contributions10/11€33k€29k▼
Reserves13€432k€547k▲
Tax-exempt reserves132€16k€16k=
Distributable reserves133€416k€531k▲
Amounts payable17/49€400k€264k▼
Amounts payable after more than one year17€117k€118k▲
Financial debts170/4€117k€118k▲
Amounts payable within one year42/48€283k€146k▼
Current portion of amounts payable after more than one year42€50k€45k▼
Trade debts44€38k€37k▼
Suppliers440/4€38k€37k▼
Taxes, remuneration and social security45€39k€43k▲
Taxes450/3€13k€23k▲
Remuneration and social security454/9€26k€20k▼
Other amounts payable47/48€156k€21k▼
Accrued charges and deferred income492/3€215-
Income statement
Code20232024
Non-recurring operating income76A-€2k
Remuneration, social security and pensions62€304k€319k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€57k€53k▼
Other operating charges640/8€8k€9k▲
Gross operating margin9900€528k€550k▲
Operating profit (loss)9901€159k€168k▲
Financial income75/76B€6k€7k▲
Recurring financial income75€6k€7k▲
Financial charges65/66B€21k€16k▼
Recurring financial charges65€21k€16k▼
Profit (loss) for the period before taxes9903€144k€159k▲
Income taxes67/77€43k€48k▲
Profit (loss) for the period9904€101k€111k▲
Profit (loss) for the period to be appropriated9905€101k€111k▲
Appropriation of the result
Profit (loss) to be appropriated9906€101k€111k▲
Transfer to equity691/2€101k€111k▲
To other reserves6921€101k€111k▲
Social balance
Average headcount (FTE)90874.44.4=
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €111k ▲10.6%
Operating result €168k, net result €111k, both a record.
31-12
Financial
Equity above €500kEq €576k ▲23.9%
6 profitable years in a row build equity to €576k.
26-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €19k ▼12.3%
Net result drops to €19k, the lowest in the series; recovery starts the following year.
15-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
28-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Arendonk · 1 establishment unit since 1998
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.
De Brulen 632370 ArendonkGround area
2,670 m²
Building footprint
780 m²
Volume, LiDAR
4,547 m³
Parcel 13001A0233/00N000, Flanders · tallest building 7.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VALUTHERM
since 19982.087.818.102
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13001A0233/00N000 | Flanders | 2,670 m² | 1 · 780 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
2023 to 2025 · 2 entries · 2,181 EUR awarded · 2,181 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,170 EUR | 1,170 EUR |
| 2023 | 1 | 1,011 EUR | 1,011 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Recognised contractor
3 categoriesVALUTHERM BV45390
Similar companies · same sector, comparable size
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THERMO-TECHNICS AB
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POLARSUN
BE 0769.520.103
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ETABLISSEMENTS VRANCKEN
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Liège · Eq €575k
ENTREPRISE SCHOUTENDE
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Oupeye · Eq €575k
Of 9,475 companies in sector 43222 we hold annual accounts for 5,625. 3,816 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded22-07-1998
Fiscal year end31-12
Activities, NACEBEL
43222Installation of electric heating, air conditioning, cooling and ventilation
43221Plumbing work
43240Other construction installation
43299Specialised construction activities
45332
Sources
Crossroads Bank for EnterprisesNational Bank · 27 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.