THERMITRA
ActiveSummary
THERMITRA has been active since 1979 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-44k) and a net result of €-88k. Equity remains stable across the filed fiscal years (±0.7% per year). Its solvency ranks better than 5% of 7777 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
26
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency12▼-21
Growth32=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.6 against 1.04 in 2024; short-term debt: 80.2% and cash: 0% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Six 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
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 2025Solvency, return and age of the figures
Solvency
-12.8%
Return on assets
-25.3%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-44k
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 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
13 d early
2023
42 d early
2022
28 d early
2021
13 d early
2020
12 d early
2019
17 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, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-88k▲ 32.5%
2024 · €-130k
2018: €-31k
2019: €58k
2020: €77k
2021: €-227
2022: €21k
2023: €35k
2024: €-130k
2018 → 2025
Working capital
€-110k
2024 · €11k
2018: €-63k
2019: €-9k
2020: €36k
2021: €29k
2022: €179k
2023: €163k
2024: €11k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€171k-€169k▼ 0.8%€174k▲ 2.8%€44k▼ 75.0%€-44k
Operating result€-188-€21k€40k▲ 86.1%€-121k€-76k▲ 37.2%
Net result€-227-€21k€35k▲ 68.5%€-130k€-88k▲ 32.5%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €76k in 2025 against €121k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €347k
Fixed assets
€179k ▼ 11.9%
Current assets
€168k ▼ 46.1%
Key figures and ratios
EBITDA
€-51k▲
2024 · €-90k
Cash flow
€-63k▲
2024 · €-99k
Solvency
-12.8%▼
2024 · 8.5%
Current ratio
0.60▼
2024 · 1.04
Quick ratio
0.44▼
2024 · 0.90
Debt to equity
-8.82▼
2024 · 10.83
ROA
-25.3%▼
2024 · -25.3%
Interest coverage
-2.74▲
2024 · -4.77
Debt
€391k▼
2024 · €472k
Debt ≤ 1 year
€278k▼
2024 · €302k
Debt > 1 year
€97k▼
2024 · €152k
Income taxes
€0▼
2024 · €0
Staff costs
€70k▼
2024 · €85k
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 · 56 lines
Balance sheet
Code20242025
Assets
Total assets20/58€515k€347k▼
Fixed assets21/28€203k€179k▼
Tangible fixed assets22/27€102k€78k▼
Land and buildings22€58k€52k▼
Plant, machinery and equipment23€3k€2k▼
Furniture and vehicles24€42k€25k▼
Financial fixed assets28€100k€100k=
Current assets29/58€313k€168k▼
Stocks and contracts in progress3€42k€47k▲
Stocks30/36€42k€47k▲
Amounts receivable within one year40/41€181k€39k▼
Trade receivables40€46k€32k▼
Other amounts receivable41€135k€7k▼
Cash at bank and in hand54/58€10k€1▼
Deferred charges and accrued income490/1€80k€83k▲
Equity and liabilities
Total equity and liabilities10/49€515k€347k▼
Equity10/15€44k€-44k▼
Contributions10/11€19k€19k=
Reserves13€25k€0▼
Distributable reserves133€25k€0▼
Profit (loss) carried forward14€0€-63k▼
Amounts payable17/49€472k€391k▼
Amounts payable after more than one year17€152k€97k▼
Financial debts170/4€152k€97k▼
Amounts payable within one year42/48€302k€278k▼
Current portion of amounts payable after more than one year42€183k€183k▼
Financial debts43€0€27k▲
Credit institutions430/8€0€27k▲
Trade debts44€53k€17k▼
Suppliers440/4€53k€17k▼
Taxes, remuneration and social security45€1k€1k▲
Taxes450/3€1k€16▼
Remuneration and social security454/9€266€1k▲
Other amounts payable47/48€65k€50k▼
Accrued charges and deferred income492/3€18k€16k▼
Income statement
Code20242025
Remuneration, social security and pensions62€85k€70k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€31k€25k▼
Other operating charges640/8€3k€2k▼
Gross operating margin9900€-2k€21k▲
Operating profit (loss)9901€-121k€-76k▲
Financial income75/76B€9k€6k▼
Recurring financial income75€9k€6k▼
Financial charges65/66B€19k€19k▼
Recurring financial charges65€19k€19k▼
Profit (loss) for the period before taxes9903€-130k€-88k▲
Income taxes67/77€0€0▼
Profit (loss) for the period9904€-130k€-88k▲
Profit (loss) for the period to be appropriated9905€-130k€-88k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-32k€-88k▼
Profit (loss) brought forward from the previous period14P€99k€0▼
Transfer from equity791/2€32k€25k▼
Transfer to equity691/2€0-
To other reserves6921€0-
Profit to be distributed694/7€0-
Directors or managers695€0-
Social balance
Average headcount (FTE)90872.02.0=
The notes to these accounts (22 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
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €-130k ▼475%
Net result drops to €-130k, the lowest in the series; recovery starts the following year.
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Back to profitnet €21k
Net result €21k after one loss-making year.
18-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
19-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Highest result since 2018net €77k ▲33.6%
Operating result €86k, net result €77k, both a record.
31-12
Financial
Equity above €150kEq €171k ▲57.4%
2 profitable years in a row build equity to €171k.
17-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 17 days late
2019
31-12
Financial
Back to profitnet €58k
Net result €58k after one loss-making year.
Show earlier events
31-12
Financial
Equity above €100kEq €109k ▲114%
Equity rises from €51k to €109k.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 28 days late
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
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, Ciney · 1 establishment unit since 1979
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.
Enhet-Centre(Chevetogne) 525590 CineyGround area
567 m²
Building footprint
163 m²
Parcel 91028A0076/00E000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Enhet-Centre(Chevetogne) 52, 5590 Ciney
since 19792.016.025.432
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 91028A0076/00E000 | Wallonia | 567 m² | 1 · 163 m² | - |
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.
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Of 9,530 companies in sector 43222 we hold annual accounts for 5,662. 4,410 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
Founded26-02-1979
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
Sources
Crossroads Bank for EnterprisesNational Bank · 47 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:thermitra@skynet.be