THOELEN VERWARMING
ActiveSummary
THOELEN VERWARMING has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €433k and a net result of €8k. Equity is growing by ~6.8% per year across the filed fiscal years. Its solvency ranks better than 83% of 27786 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
82
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability63▼-12
Solvency100=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity ample (current ratio 3.93 against 4.73 in 2024; short-term debt: 22.2% and cash: 83.3% of total assets), and 22.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four 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 2025Solvency, return and age of the figures
Solvency
77.8%
Return on assets
1.5%
Age of the figures
9 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 06-07-2026, 25 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
25 d early
2024
64 d early
2023
34 d early
2022
52 d early
2021
53 d early
2020
36 d early
2019
9 d early
← 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, micro schema
Equity
€433k▼ 2.3%
2024 · €443k
2018: €298k
2019: €319k
2020: €338k
2021: €371k
2022: €445k
2023: €477k
2024: €443k
2018 → 2025
Total assets
€556k▲ 3.4%
2024 · €538k
2018: €400k
2019: €414k
2020: €421k
2021: €449k
2022: €534k
2023: €560k
2024: €538k
2018 → 2025
Net result
€8k▼ 69.7%
2024 · €28k
2018: €22k
2019: €20k
2020: €19k
2021: €33k
2022: €74k
2023: €32k
2024: €28k
2018 → 2025
Working capital
€363k▲ 2.2%
2024 · €355k
2018: €216k
2019: €256k
2020: €292k
2021: €342k
2022: €347k
2023: €393k
2024: €355k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€371k-€445k▲ 19.8%€477k▲ 7.3%€443k▼ 7.2%€433k▼ 2.3%
Operating result€52k-€107k▲ 107%€51k▼ 52.4%€45k▼ 10.5%€19k▼ 58.3%
Net result€33k-€74k▲ 120%€32k▼ 56.1%€28k▼ 14.8%€8k▼ 69.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 58% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €556k
Fixed assets
€70k ▼ 20.5%
Current assets
€486k ▲ 8.0%
Equity and liabilities €556k
Equity
€433k ▼ 2.3%
Debt
€124k ▲ 29.8%
Debt's share of the balance-sheet total rises from 17.7% to 22.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€37k▼
2024 · €63k
Cash flow
€26k▼
2024 · €45k
Current ratio
3.93▼
2024 · 4.73
Quick ratio
3.91▼
2024 · 4.71
Debt to equity
0.29▲
2024 · 0.22
ROE
1.9%▼
2024 · 6.2%
ROA
1.5%▼
2024 · 5.1%
Interest coverage
5.03▼
2024 · 8.98
Debt ≤ 1 year
€124k▲
2024 · €95k
Income taxes
€4k▼
2024 · €12k
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 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€538k€556k▲
Fixed assets21/28€88k€70k▼
Tangible fixed assets22/27€88k€70k▼
Land and buildings22€32k€32k▼
Plant, machinery and equipment23€1k€748▼
Furniture and vehicles24€54k€37k▼
Current assets29/58€450k€486k▲
Stocks and contracts in progress3€2k€3k▲
Stocks30/36€2k€3k▲
Amounts receivable within one year40/41€10k€18k▲
Trade receivables40€8k€9k▲
Other amounts receivable41€2k€9k▲
Cash at bank and in hand54/58€436k€464k▲
Deferred charges and accrued income490/1€2k€3k▲
Equity and liabilities
Total equity and liabilities10/49€538k€556k▲
Equity10/15€443k€433k▼
Contributions10/11€19k€19k=
Reserves13€424k€414k▼
Tax-exempt reserves132€19k€19k=
Distributable reserves133€405k€395k▼
Profit (loss) carried forward14€0€0=
Amounts payable17/49€95k€124k▲
Amounts payable within one year42/48€95k€124k▲
Trade debts44€778€3k▲
Suppliers440/4€778€3k▲
Taxes, remuneration and social security45€4k€2k▼
Taxes450/3€4k€2k▼
Other amounts payable47/48€90k€118k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€17k€18k▲
Other operating charges640/8€1k€1k▲
Gross operating margin9900€64k€38k▼
Operating profit (loss)9901€45k€19k▼
Financial income75/76B€2k€767▼
Recurring financial income75€2k€767▼
Financial charges65/66B€7k€7k▲
Recurring financial charges65€7k€7k▲
Profit (loss) for the period before taxes9903€40k€12k▼
Income taxes67/77€12k€4k▼
Profit (loss) for the period9904€28k€8k▼
Profit (loss) for the period to be appropriated9905€28k€8k▼
Appropriation of the result
Profit (loss) to be appropriated9906€28k€8k▼
Transfer from equity791/2€62k€19k▼
Transfer to equity691/2€28k€8k▼
To other reserves6921€28k€8k▼
Profit to be distributed694/7€62k€19k▼
Return on contributions (dividend)694€62k€19k▼
The notes to these accounts (5 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
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €8k ▼69.7%
Net result drops to €8k, the lowest in the series.
28-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
09-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €74k ▲120%
Operating result €107k, net result €74k, both a record.
08-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
04-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
12-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro 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, Sint-Truiden · 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.
Hasseltsesteenweg 4153800 Sint-TruidenGround area
925 m²
Building footprint
196 m²
Volume, LiDAR
1,049 m³
Parcel 71352C0016/00G000, Flanders · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
THOELEN VERWARMING
since 19982.069.983.166
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71352C0016/00G000 | Flanders | 925 m² | 1 · 196 m² | 8.4 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.
Similar companies · same sector, comparable size
Van Campenhout Centrale Verwarming & Sanitair
BE 0841.985.338
Meise · Eq €432,805
VERREZEN HVAC
BE 0738.682.813
Kapelle-op-den-Bos · Eq €432,177
CHAUDRAL
BE 0476.607.520
Gent · Eq €432,146
CLIMAFROID
BE 0445.227.228
Visé · Eq €433,197
HOEDEKIE
BE 0896.819.537
Merelbeke-Melle · Eq €433,700
Of 9,530 companies in sector 43222 we hold annual accounts for 5,662. 4,183 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
Founded29-12-1994
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
43221Plumbing work
81220Other building cleaning and industrial cleaning
Sources
Crossroads Bank for EnterprisesNational Bank · 31 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.