ACTIVE

THERMO SYSTEM

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Financial year 2025 · closed on 31/12/2025
Net result
-32,8 k €
-160.7% YoY
Gross margin
-24,6 k €
-125.6% YoY
Equity
115,2 k €
-22.2% YoY

What does THERMO SYSTEM do?

THERMO SYSTEM is a Private company with limited liability incorporated in 2011. Its main activity is: Plumbing, heat and air-conditioning installation. Its registered office is in Lasne.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0838.531.544
Incorporation
10/08/2011
Legal form
Private company with limited liability
Registered office
Rue de Fichermont 12
1380 Lasne · WallonieSee on map
Contributed capital
12 400,00 €
Latest accounts
31/12/2025
Activities (NACE)
43222Plumbing, heat and air-conditioning installation· main43222Plumbing, heat and air-conditioning installation
Signals
Solid equityLow riskGood liquidity
View the BCE/KBO Public Search record →
Health score
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Recommended credit limit
✦ Verdict · Analyst summary
Financials

Trend over 14 financial years

20252024202320222021202020192018201720162015201420132012
Income statement
Gross margin-24,6 k €96 k €29 k €39,1 k €56,7 k €42 k €32,3 k €10,6 k €30 k €10,8 k €4 k €19,1 k €35,5 k €32,3 k €
EBITDA-27,5 k €84,7 k €18,4 k €32,8 k €41 k €30,6 k €20,6 k €9,3 k €25,1 k €5,4 k €2,1 k €18,2 k €35 k €31,4 k €
Operating result-32,5 k €80,9 k €15,6 k €30 k €38,5 k €25,9 k €16,1 k €4,5 k €20,2 k €-498,9 €-3,7 k €12,3 k €29,8 k €23,9 k €
Net result-32,8 k €54,2 k €12 k €22 k €27,4 k €18,9 k €11,8 k €3,4 k €13,4 k €-285,2 €-5,1 k €9,6 k €22,7 k €15,6 k €
Balance sheet
Equity115,2 k €148 k €146,8 k €148,8 k €126,8 k €99,4 k €80,5 k €68,7 k €65,3 k €51,9 k €52,2 k €57,3 k €47,7 k €25 k €
Total assets164,8 k €239,1 k €182,4 k €187,7 k €151,4 k €112,4 k €98,5 k €88,1 k €89,2 k €82,5 k €78,2 k €74,7 k €63,8 k €57,4 k €
Cash73,9 k €83,1 k €129,9 k €97,1 k €103,7 k €81,2 k €66,2 k €55,9 k €58,5 k €36,7 k €49,5 k €37 k €33,4 k €18,1 k €
Debts49,6 k €91,1 k €35,6 k €38,9 k €23,9 k €12,9 k €12,3 k €19,4 k €23,9 k €30,6 k €26 k €17,4 k €16,1 k €32,3 k €
Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 2 ended

Active mandates

DAVID FLION

Director · since 10 août 2011

Active

Ended mandates

David FLION

Administrator - manager · since 10 août 2011

Ended
David FLION

Manager · since 10 août 2011

Ended
Annual accounts

Full financial information

202520242023202220212020
Type of accountMicro modelMicro modelMicro modelMicro modelMicro modelMicro model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date24/08/202623/09/202518/09/202431/08/202319/08/202219/08/2021
General meeting08/05/202609/05/202510/05/202412/05/202313/05/202214/05/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

14 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Micro model31/12/202508/05/202624/08/2026FrenchPDF
Micro model31/12/202409/05/202523/09/2025FrenchPDF
Micro model31/12/202310/05/202418/09/2024FrenchPDF
Micro model31/12/202212/05/202331/08/2023FrenchPDF
Micro model31/12/202113/05/202219/08/2022FrenchPDF
Micro model31/12/202014/05/202119/08/2021FrenchPDF
Micro model31/12/201908/05/202022/09/2020FrenchPDF
Micro model31/12/201810/05/201927/08/2019FrenchPDF
Micro model31/12/201711/05/201830/08/2018FrenchPDF
Micro model31/12/201612/05/201728/06/2017FrenchPDF
Abridged model31/12/201513/05/201615/07/2016FrenchPDF
Abridged model31/12/201408/05/201527/05/2015FrenchPDF
Abridged model31/12/201309/05/201421/05/2014FrenchPDF
Abridged model31/12/201210/05/201327/05/2013FrenchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan
Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 2 ended

Active mandates

DAVID FLION

Director · since 10 août 2011

Active

Ended mandates

David FLION

Administrator - manager · since 10 août 2011

Ended
David FLION

Manager · since 10 août 2011

Ended
Shareholders

Ownership and network

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Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 2025
    Annual accounts 2025-32,8 k €↓
  2. 2025
    Name changeTHERMOSYSTEM
  3. 2024
    Annual accounts 202454,2 k €↑
  4. 2023
    Annual accounts 202312 k €↓
  5. 2022
    Annual accounts 202222 k €↓
  6. 2021
    Annual accounts 202127,4 k €↑
  7. 2021
    Name changeTHERMO SYSTEM
  8. 2020
    Annual accounts 202018,9 k €↑
  9. 2019
    Annual accounts 201911,8 k €↑
  10. 2018
    Annual accounts 20183,4 k €↓
  11. 2017
    Annual accounts 201713,4 k €↑
  12. 2016
    Annual accounts 2016-285,2 €↑
  13. 2015
    Annual accounts 2015-5,1 k €↓
  14. 2014
    Annual accounts 20149,6 k €↓
  15. 2013
    Annual accounts 201322,7 k €↑
  16. 2012
    Annual accounts 201215,6 k €
  17. 10/08/2011
    IncorporationPrivate company with limited liability