Insulation installation
Filed accounts
NACE 43230 · financial year 2025 · 1,104 filed annual accounts| Per financial year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Median solvency | 40.1% | 41.2% | 40.8% | 43.9% | 44.6% | 45.3% |
| Median net result | €12,225 | €13,375 | €14,169 | €13,500 | €12,053 | €12,710 |
Hold your customer's or competitor's figures against them in the Sector benchmark
Bankruptcies
Recent bankruptcies
| Date | Company |
|---|---|
| 03-11-2026 | VESTA INSULATION
BE 0798.134.410 |
| 28-10-2026 | MY RENOV
BE 1015.963.746 |
| 12-10-2026 | AQUASTRA
BE 0881.082.177 |
| 16-09-2026 | ISOLAZ
BE 0479.523.557 |
| 07-09-2026 | LION DECOR
BE 0729.721.201 |
| 17-08-2026 | Ducu, Robert-Georgian
BE 0797.616.548 · sole trader · Liège |
| 14-08-2026 | Hieff, Christophe
BE 0668.840.734 · sole trader · Verviers |
| 06-08-2026 | ROSDOM
BE 1015.196.852 |
Spread across the country
by region and province · 1,659 of 4,216 enterprises with a registered office on file · a sole trader has no published seat- Flanders
- Wallonia
- Brussels
- Abroad
The balance sheets of division 43 on the map, by municipality and down to the address
Largest employers
NACE 43230 as first main activity · staff from the latest accounts- 1 KAEFER BelgiëTemse 266 FTEfinancial year 2025
- 2 Les ErablesTournai 180 FTEfinancial year 2025
- 3 EIB InsulationSchoten 100 FTEfinancial year 2023
- 4 BRAND ENERGY & INFRASTRUCTURE SERVICESAntwerp 83.0 FTEfinancial year 2018
- 5 G + H MONTAGEAntwerp 80.2 FTEfinancial year 2025
Joint committees
from the latest accounts of 322 companies- 124 Construction 248
- 200 Auxiliary committee for white-collar workers 169
- 111 Metal, mechanical and electrical engineering 12
- 149.01 Electricians: installation and distribution 9
- 100 Auxiliary committee for blue-collar workers 6
- 209 White-collar workers in metal manufacturing 6
- 116 Chemical industry 3
- 207 White-collar workers in the chemical industry 3
Show the 12 others
- 302 Hotels and catering 3
- 126 Furnishing and woodworking 2
- 201 Independent retail 2
- 323 Building management, estate agents and domestic staff 2
- 101 Mining 1
- 109 Clothing and garment industry 1
- 121 Cleaning 1
- 140.03 Road transport and logistics for third parties 1
- 142 Recovery of raw materials 1
- 142.04 Recovery of raw materials 1
- 145 Horticulture 1
- 149 Sectors related to metal, mechanical and electrical engineering 1
Source: the annual accounts at the National Bank. One filing can name more than one committee.
Division 43: Specialised construction
Related activities
8 other activities| Activity | Registrations | Starters, 12 months | Bankruptcies, 12 months | FTE |
|---|---|---|---|---|
| General electrical installation work43211 | 22,594 | 1,897 | 192 | 20,605 |
| Installation of electric heating, air conditioning, cooling and ventilation43222 | 9,481 | 557 | 74 | 11,740 |
| Plumbing work43221 | 7,007 | 648 | 72 | 3,169 |
| Other construction installation43240 | 4,009 | 372 | 50 | 4,721 |
| Electrical installation work in industrial facilities43212 | 1,100 | 61 | 14 | 1,051 |
| Specialised construction activities43223 | 524 | 201 | 3 | 208 |
Show all 8 activities
| Activity | Registrations | Starters, 12 months | Bankruptcies, 12 months | FTE |
|---|---|---|---|---|
| Specialised construction activities43213 | 240 | 93 | 2 | 1 |
| Specialised construction activities43214 | 80 | 26 | 0 | 15 |
Bankruptcies per year in division 43
| Per year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bankruptcies | 1,238 | 1,118 | 1,196 | 1,285 | 1,406 | 957 | 996 | 1,374 | 1,496 | 1,820 | 1,847 | 1,294 |
| Jobs lost | 2,977 | 2,516 | 2,616 | 2,709 | 2,807 | 2,317 | 1,934 | 2,541 | 2,672 | 3,365 | 3,379 | 2,180 |
2026 through September. Every bankruptcy, also of companies that have since left the register. Source: Statbel (Directorate-General Statistics), NACE classification of 2008.
Staff cost per FTE in NACE division 43
6,829 employers| Size | Median | Middle half | Employers |
|---|---|---|---|
| fewer than 10 FTE | €59,700 | €50,700 to €68,200 | 4,516 |
| 10 to 49 FTE | €63,900 | €55,800 to €71,400 | 2,080 |
| 50 to 249 FTE | €70,100 | €61,100 to €77,700 | 204 |
| 250 FTE or more | €77,000 | €70,500 to €82,400 | 29 |
Employers with the highest staff cost per FTE in this division All sectors by staff cost In the Analysis workbench
Running bankruptcies in the sector
NACE division 43Measured nationally: Of 108,606 bankruptcies of legal entities across Belgium, 49% were closed within five years for insufficient assets and 29% after liquidation, 3% were withdrawn. After five years, 20% were still open. Half had ended after 26 months (a quarter after 15, three quarters after 51 months).
This counts companies with this main activity in the register on 5 November 2026. The outcome itself is not measured by sector. The activity of a company that leaves the register after its bankruptcy is too often not kept to compare closed cases fairly.
52 of the 67,052 companies in NACE division 43 have a parent company abroad. Main parent countries: Netherlands (18), France (9) and Germany (8). Together they employ 3,749 of the division's 101,568 FTE: 3.7%, against 14% for Belgium as a whole.
Subsidies in this sector
per register · legal entities with an enterprise number- Flemish subsidies €112.7m awarded
- Federal transfers 15.2m amount as published
- Wallonia-Brussels Federation €933,621 paid
- EU budget €97.9m attributed share
- EU research €10.3m EU contribution
Insights on Insulation installation
Balance sheet and result. 8.2% of the annual accounts show negative equity, against 12.4% in Belgium. The median net result of €12,710 is below Belgium's €16,539. 22.7% of the annual accounts close with a loss, against 26.7% in Belgium.
Bankruptcies. The median bankruptcy probability of 0.9% is above Belgium's 0.2%. In 12 months, 10.2 of 1,000 companies went bankrupt, against 6.2 in Belgium. That is more than in 86% of the 88 NACE divisions.
Inflow and structure. In 12 months, 13.9 of 100 companies started, against 8.8 in Belgium. That is more than in 93% of the 87 NACE divisions. Brussels holds 18.5% of the seats, against 12.5% in Belgium. 60.6% of the companies are sole traders, against 41.6% in Belgium.
Staff and filing. 47.2% of the financial year 2024 accounts were filed late, against 38.4% in Belgium. The 5 largest employers hold 710 of the 2,509 FTE: 28.3%.
Direction. Median solvency rose from 40.1% in financial year 2020 to 45.3% in financial year 2025.
The comparison with Belgium as a whole and with the other divisions is as of 05-11-2026 05:30.
Method and sources
Every company registered today counts under its main activities in the KBO. Establishment units do not count. Staff counts once, under the employer's first main activity, from its latest accounts and only where it fits the staff costs. The count follows the NACE 2025 classification, the version in which code 43230 exists.
The bankruptcies over five years count only companies still registered today, because the activity of a company that left the register is not kept. So they are fewer than the bankruptcies of those years, and the figure is not a probability for the future. Over twelve months the count is nearly complete, because a bankrupt company stays registered while its bankruptcy runs. A company with more than one main activity counts in each of those sectors.
The comparison with Belgium as a whole and with the other NACE divisions rests on an overview of every division, counted again each night. Each division is counted in the version of the NACE classification in which it exists. A standing such as "more than in 80%" compares with the other divisions that have the figure. A division's bankruptcy probability is the median over its companies with a score. Belgium here counts the 1,275,887 companies with a main activity, because only those belong to a division. The other 699,448 registrations publish no activity.
Each median is the value of the middle company, computed over the annual accounts of financial year 2025, and is shown only from 30 accounts. A share (loss-making, negative equity) counts that year's accounts with that trait. Accounts are late when they are filed after the statutory deadline. The direction per financial year follows the companies still registered today.