Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 60 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
20 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
ATAG Heating Belgium from Vorst, company number BE0414905028, closed financial year 2025 with a result of € -943,106 after tax. For that financial year ATAG Heating Belgium recorded revenue of € 11.5 million and equity of € 594,354. Compared with financial year 2024, the result moved from € 206,709 to € -943,106. The company made a loss. The buffer shrank hard: equity is 61 % below last year. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on May 4, 2026.
€ 594,354
▼ 61% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -943,106
▼ still € 206,709 profit in 2024
Profit after tax over the fiscal year.
€ 258,542
▼ 70% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -3.1 million.
People and assets in 2025
62.8
▲ 10.4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 4.5 million
▲ 14% vs 2024
€ 71,600 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 24,178
▲ 65% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 462,860
Loans from banks and other lenders, long and short.
€ 3.7 million
▲ 36% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 140 days on average.
€ 1.4 million
▲ 11% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 10,878,386 | € 8,021,328 | € 9,355,266 | € 11,469,331 | ▲ 23% |
| Profit after taxes | € -2,506,290 | € -934,144 | € 206,709 | € -943,106 | ▼ € 1.1 million |
| Equity | € 264,894 | € -669,250 | € 1,537,459 | € 594,354 | ▼ 61% |
| Total debts | € 4,731,912 | € 5,327,467 | € 4,676,517 | € 5,878,084 | ▲ 26% |
| Cash | € 133,252 | € 104,067 | € 853,270 | € 258,542 | ▼ 70% |
| Land & buildings | € 176,614 | € 210,367 | € 202,987 | € 187,833 | ▼ 7% |
| Retained profit | € -2,385,106 | € -3,319,250 | € -2,112,541 | € -3,055,646 | ▼ € 943,106 |
| Bank debt | € 0 | € 1,469,643 | € 463,288 | € 462,860 | |
| Balance sheet total | € 5,545,693 | € 5,117,601 | € 6,785,776 | € 7,229,928 | ▲ 7% |
| Employees (FTE) | 69.8 | 56.6 | 52.4 | 62.8 | ▲ 10.4 |
Key figures of ATAG Heating Belgium, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to ATAG Heating Belgium?
What happened at ATAG Heating Belgium in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Gabriele MONTESI stepped down as director. NBB
- Aydin GOZUTOK stepped down as director. NBB
- Pierre BONIFACE stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 943,106 (▼ € 1.1 million vs 2024). Source: NBB ↗
- New establishment in Kapellen. KBO
- Gabriele MONTESI became a director. NBB
- Aydin GOZUTOK became a director. NBB
- Pierre BONIFACE became a director. NBB
In short
From € 2.5 million loss in 2022 to € 943,106 loss in 2025.
Paid € 32,255 in corporate taxes since 2022.
Best year ever: 2024, with € 206,709 profit.
Pays suppliers within 140 days on average.
Management
The shares are held by ARISTON THERMO BENELUX (100%) and ELCO BV.
Directors
According to the 2025 annual accounts
since 2025 · until 2031
Aydin GOZUTOK
Director
since 2024 · until 2030
since 2024 · until 2030
Shareholders
ELCO BV
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Humaniteitslaan 292
1190 Vorst
Humaniteitslaan 207 box 102
1620 Drogenbos
Active since 1 July 2021
Leo Baekelandstraat 3
2950 Kapellen
Active since 1 July 2025
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 20 companies are registered at this address.
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€ 15.7 million revenue · 2025
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€ 396,306 revenue · 2025
CARLOS INTERNATIONAL
ALERT MANAGEMENT CONSULTANTS
€ 78,724 gross margin · 2025
+15 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0414.905.028
- VAT number
- BE 0414.905.028
- Registered office
- Humaniteitslaan 292, 1190 Vorst
- Names & denominations
- ATAG Heating Belgium
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 30 April 1975
- Peppol
- Active · Active since 7 Oct 2025
- Activities · NACE
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