Checked.be
Active
BE 0846.098.039Private limited company
THERMALPLUG
Hermesstraat 2 ·1930 Zaventem, Belgium· 14 yrs active
Sector: Wholesale of other machinery and equipment
(46649)
Conclusion
THERMALPLUG has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1k and a net result of €-65. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 25% of 875 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €1k |
| Net result | €-65 |
| Better than sector | 25% |
| Active | 14 yrs |
Financial profile
45
/ 100
Mixed profile: strong on stability, weaker on profitability.
All 5 axes are computed from data Checked has read.
Health
27
Profitability
0
Solvency
15
Growth
85
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2012, 14 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
27
/ 100
Weak
Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
No credit
negative equity or figures too weak
Score history
13
2022
18
2023
58
2024
27
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.05 (≥ 1.0)
+5
Quick ratio
Quick ratio 0.56 (< 0.6)
-5
Leverage
Debt/equity 21.20 (> 3.0)
-10
Profitability
Negatieve ROE -4%
-10
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 11-06-2026 with the NBB · fiscal year 2025 · micro schema
Sector comparison
Fiscal year 2025 · NACE 46, Wholesale trade · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 4.5% | 35.1% | |
| Net result | €-65 | €10k | |
| Equity | €1k | €40k | |
| Gross operating margin | €282 | €32k | |
| Total assets | €33k | €131k |
€6k
+27.9%
22-25
€-65
-
22-25
€33k
-4.6%
22-25
€1k
-4.2%
22-25
€1k
-4.2%
22-25
€38
-91.4%
22-25
€32k
-4.6%
22-25
€32k
-4.6%
22-25
1.05
0.0%
22-25
0.56
-3.9%
22-25
4.5%
+0.4%
22-25
21.20
-0.4%
22-25
-4.4%
-
22-25
-0.2%
-
22-25
76.6%
-
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | €6k | €5k | - |
| EBITDA | - | - | - | - |
| Net profit | €-65 | €5k | €-53 | €-210 |
| Cash flow | - | - | - | - |
| Staff costs | - | - | - | - |
| Income taxes | €38 | €440 | - | - |
| Dividends | - | - | - | - |
| Total assets | €33k | €35k | €32k | €36k |
| Equity | €1k | €2k | €-3k | €-3k |
| Debt | €32k | €33k | €35k | €39k |
| of which ≤ 1y | €32k | €33k | €35k | €39k |
| of which > 1y | - | - | - | - |
| Working capital | €1k | €2k | €-3k | €-3k |
| Employees (FTE) | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 1.05 | 1.05 | 0.90 | 0.92 |
| Quick ratio | 0.56 | 0.58 | 0.32 | 0.40 |
| Working capital ratio | 4.5% | 4.5% | -10.6% | -9.1% |
| Solvency | 4.5% | 4.5% | -10.6% | -9.1% |
| Debt / equity | 21.20 | 21.29 | -10.44 | -11.96 |
| Long-term debt ratio | - | - | - | - |
| Interest coverage | - | - | - | - |
| Gross margin | - | 99.0% | 3.9% | - |
| Net margin | - | 76.6% | -1.1% | - |
| ROA | -0.2% | 14.1% | -0.2% | -0.6% |
| ROE | -4.4% | 314.5% | 1.6% | 6.4% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | 856d | 365d | - |
| Days payable outstanding | - | 6176d | 26d | 2222d |
| Inventory turnover | 0.00 | 0.00 | 0.24 | 0.00 |
| Days inventory (DSI) | 85958d | 88644d | 1549d | 130632d |
Balance-sheet composition 2025
Full annual accounts (20 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €33k | €35k | €32k | €36k |
| Current assets | 29/58 | €33k | €35k | €32k | €36k |
| Stocks & contracts in progress | 3 | €16k | €16k | €20k | €20k |
| Amounts receivable within one year | 40/41 | - | €15k | €7k | €6k |
| Cash & bank | 54/58 | €18k | €4k | €5k | €10k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €33k | €35k | €32k | €36k |
| Equity | 10/15 | €1k | €2k | €-3k | €-3k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k |
| Accumulated profits (losses) | 14 | €-17k | €-17k | €-22k | €-22k |
| Amounts payable | 17/49 | €32k | €33k | €35k | €39k |
| Amounts payable within one year | 42/48 | €32k | €33k | €35k | €39k |
| Trade debts payable within one year | 44 | - | €1k | €347 | €347 |
| Income statement | |||||
| Turnover | 70 | - | €6k | €5k | - |
| Gross operating margin | 9900 | €282 | €6k | €193 | €-57 |
| Operating result | 9901 | €229 | €6k | €193 | €-57 |
| Financial charges | 65 | €256 | €255 | €246 | €153 |
| Result before taxes | 9903 | €-27 | €5k | €-53 | €-210 |
| Income taxes | 67/77 | €38 | €440 | - | - |
| Net result for the period | 9904 | €-65 | €5k | €-53 | €-210 |
| Result to be appropriated | 9905 | €-65 | €5k | €-53 | €-210 |
Legal Structure
| NACE primary | Wholesale of other machinery and equipment(46649) |
| Legal form | Private limited company(610) |
| Incorporation | 23-05-2012 |
| Status | Active |
| Postal code | 1930 |
Establishment units
Galerie Sandrine Heerebout
since 20122.211.826.266
Real-estate footprint
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23057C0007/00P000 | Flanders | 3,951 m² | - | - |
| 21017D0374/00S006 | Brussels | 128 m² | 1 · 92 m² | 11.7 m · 3 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
11-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
19-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €5k
Net result €5k after 2 loss-making years.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
22-12
State Gazette act
Capital & shares
Sophie MAQUET
23-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
19-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 19 days late
2019
14-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 14 days late
2018
26-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
24-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Belgisch Staatsblad, acts
Capital history · 1
22-12-2021
Capital change
All acts · 1
updated 4 years ago
2021
22-12-2021 Capital increase of €18,600 to €37,200
- €18.600 → €37.200
Notary:
Sophie MAQUET · Brussel
Technical details
{
"events": [
{
"kind": "capital_increase",
"after_eur": 37200.0,
"delta_eur": 18600.0,
"before_eur": 18600.0,
"share_emission": {
"agio_eur": null,
"share_form": null,
"share_class": null,
"n_new_shares": null,
"with_new_shares": false,
"nominal_value_eur": null,
"issue_price_per_share_eur": null
},
"decrease_purpose": null,
"contribution_type": "kapitalisering_reserves",
"paid_up_delta_eur": null,
"n_shares_destroyed": null,
"not_yet_called_eur": null,
"merger_new_shares_n": null,
"merger_exchange_ratio": null,
"distribution_amount_eur": null,
"statutory_unavailable_equity_op": "convert_to_distributable"
}
],
"notary": {
"name": "Sophie MAQUET",
"firm_city": null,
"firm_name": null,
"office_city": "Brussel",
"is_associated": false
},
"act_meta": {
"language": "nl",
"pub_date": "2021-12-22",
"filing_date": "2021-12-14",
"act_kind_objet": "Onderwerp akte:"
},
"decision": {
"body": "algemene_vergadering",
"act_date": "2021-11-30",
"unanimous": null,
"under_authorized_capital": false,
"underlying_resolution_date": null
},
"bedrijfsrevisor": null,
"subject_company": {
"kbo": "0846.098.039",
"name_full": "THERMALPLUG",
"legal_form": "besloten vennootschap",
"_kbo_filled_from_list": true,
"is_foreign_registered": false
},
"publication_proxy": {
"kind": "none",
"org_kbo": null,
"org_name": null,
"person_name": null,
"org_rep_person_name": null,
"person_role_at_subject": null
},
"co_filed_documents": [],
"shareholders_after": [],
"share_classes_after": []
}Credit advice
Company registry (CBE)
Activities
Wholesale of other machinery and equipment46649
Names & trade names
| Legal nameNL | THERMALPLUG |
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