We prove a Liouville type theorem for sign-changing radial solutions of a subcritical semilinear heat equation $u_t=\Delta u+|u|^{p-1}u$. We use this theorem to derive a~priori bounds, decay estimates, and initial and final blow-up rates for radial solutions of rather general semilinear parabolic equations whose nonlinearities have a subcritical polynomial growth. Further consequences on the existence of steady states and time-periodic solutions are also shown.