A HERMES
ActiveSummary
A HERMES has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€32,704) and a net result of -€59,946. Equity is shrinking by ~12.1% per year across the filed fiscal years. Its solvency ranks better than 5% of 234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0▼-42
Growth32=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.16 against 0.46 in 2024; short-term debt: 133.8% and cash: 1.4% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 90
Relative position
BE, all sectors
reference
Arts creation and performing arts activities (NACE 90)
about 58% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
-33.8%
Return on assets
-61.9%
Age of the figures
9 mo
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 · 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 -€32,704
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 08-06-2026, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2024
73 d early
2023
47 d early
2022
41 d early
2021
86 d early
2020
81 d early
2019
58 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 63 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% of the sector filed late.
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. Usually files around 8 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€59,946▼ 71.0%
2024 · -€35,055
Working capital
-€108,360▼ 52.9%
2024 · -€70,882
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 90, Arts creation and performing arts activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€7,455-€2,354▲ 68.4%-€13,967▼ 493%-€33,316▼ 139%-€57,694▼ 73.2%
Net result-€7,500below the sector's middle half-€2,427within the sector's middle half▲ 67.6%-€14,864below the sector's middle half▼ 512%-€35,055below the sector's middle half▼ 136%-€59,946below the sector's middle half▼ 71.0%
Equity€79,588within the sector's middle half▼ 8.6%€77,161within the sector's middle half▼ 3.0%€62,297within the sector's middle half▼ 19.3%€27,242below the sector's middle half▼ 56.3%-€32,704below the sector's middle half
Total assets€104,942below the sector's middle half▼ 63.0%€103,302below the sector's middle half▼ 1.6%€123,143below the sector's middle half▲ 19.2%€159,090below the sector's middle half▲ 29.2%€96,773below the sector's middle half▼ 39.2%
Debt€25,354▼ 87.1%€26,141▲ 3.1%€60,846▲ 133%€131,848▲ 117%€129,477▼ 1.8%
Working capital-€17,367below the sector's middle half▲ 32.4%-€23,854below the sector's middle half▼ 37.3%-€40,443below the sector's middle half▼ 69.5%-€70,882below the sector's middle half▼ 75.3%-€108,360below the sector's middle half▼ 52.9%
Solvency75.8%above the sector's middle half▲ 45.2pp74.7%above the sector's middle half▼ 1.1pp50.6%within the sector's middle half▼ 24.1pp17.1%within the sector's middle half▼ 33.5pp-33.8%below the sector's middle half▼ 50.9pp
Current ratio0.32below the sector's middle half▼ 0.550.09below the sector's middle half▼ 0.230.34below the sector's middle half▲ 0.250.46below the sector's middle half▲ 0.130.16below the sector's middle half▼ 0.30
Return on assets (ROA)-7.1%below the sector's middle half▼ 7.8pp-2.3%within the sector's middle half▲ 4.8pp-12.1%below the sector's middle half▼ 9.7pp-22.0%below the sector's middle half▼ 10.0pp-61.9%below the sector's middle half▼ 39.9pp
above
within
below
the middle half (P25 to P75) of NACE 90, Arts creation and performing arts activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €57,694 in 2025 against €33,316 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €96,773
Fixed assets
€75,656 ▼ 22.9%
Current assets
€21,117 ▼ 65.4%
Key figures and ratios
EBITDA
-€32,421▼
2024 · -€9,011
Cash flow
-€34,672▼
2024 · -€10,749
Debt to equity
-3.96▼
2024 · 4.84
Interest coverage
-14.40▼
2024 · -5.08
Debt ≤ 1 year
€129,477▼
2024 · €131,848
Staff costs
€11,794▼
2024 · €15,844
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,621 companies that looked in July 2024 the way this one looks now, 4.5% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.5%
went bankrupt
10.0%
stopped otherwise
84%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,621 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €3,126 | €15,844 | €11,794 | ▼ 25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,228 | €19,318 | €21,914 | €24,306 | €25,274 | ▲ 4.0% |
| Other operating charges640/8 | €55 | €105 | €131 | €134 | €142 | ▲ 5.5% |
| Gross operating margin9900 | €10,828 | €17,069 | €11,204 | €6,968 | -€20,485 | ▼ 394% |
| Operating profit (loss)9901 | -€7,455 | -€2,354 | -€13,967 | -€33,316 | -€57,694 | ▼ 73.2% |
| Financial income75/76B | - | - | - | €35 | - | - |
| Recurring financial income75 | - | - | - | €35 | - | - |
| Financial charges65/66B | €46 | €74 | €897 | €1,774 | €2,251 | ▲ 26.9% |
| Recurring financial charges65 | €46 | €74 | €897 | €1,774 | €2,251 | ▲ 26.9% |
| Profit (loss) for the period before taxes9903 | -€7,500 | -€2,427 | -€14,864 | -€35,055 | -€59,946 | ▼ 71.0% |
| Profit (loss) for the period9904 | -€7,500 | -€2,427 | -€14,864 | -€35,055 | -€59,946 | ▼ 71.0% |
| Profit (loss) for the period to be appropriated9905 | -€7,500 | -€2,427 | -€14,864 | -€35,055 | -€59,946 | ▼ 71.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €104,942 | €103,302 | €123,143 | €159,090 | €96,773 | ▼ 39.2% |
| Fixed assets21/28 | €96,956 | €101,014 | €102,740 | €98,124 | €75,656 | ▼ 22.9% |
| Tangible fixed assets22/27 | €96,956 | €101,014 | €102,740 | €98,124 | €75,656 | ▼ 22.9% |
| Plant, machinery and equipment23 | €96,956 | €101,014 | €102,740 | - | - | - |
| Furniture and vehicles24 | - | - | - | €98,124 | €75,656 | ▼ 22.9% |
| Current assets29/58 | €7,987 | €2,287 | €20,403 | €60,966 | €21,117 | ▼ 65.4% |
| Amounts receivable within one year40/41 | - | - | €19,550 | €40,953 | €19,525 | ▼ 52.3% |
| Trade receivables40 | - | - | €19,550 | €36,500 | €19,525 | ▼ 46.5% |
| Other amounts receivable41 | - | - | - | €4,453 | - | - |
| Cash at bank and in hand54/58 | €7,987 | €2,287 | €687 | €20,013 | €1,339 | ▼ 93.3% |
| Deferred charges and accrued income490/1 | - | - | €166 | - | €253 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €104,942 | €103,302 | €123,143 | €159,090 | €96,773 | ▼ 39.2% |
| Equity10/15 | €79,588 | €77,161 | €62,297 | €27,242 | -€32,704 | ▼ 220% |
| Contributions10/11 | €650,000 | €650,000 | €650,000 | €650,000 | €650,000 | = |
| Reserves13 | €2,703 | €2,703 | €2,703 | €2,703 | €2,703 | = |
| Tax-exempt reserves132 | €800 | €800 | €800 | €800 | €800 | = |
| Distributable reserves133 | €1,903 | €1,903 | €1,903 | €1,903 | €1,903 | = |
| Profit (loss) carried forward14 | -€573,115 | -€575,542 | -€590,406 | -€625,462 | -€685,408 | ▼ 9.6% |
| Amounts payable17/49 | €25,354 | €26,141 | €60,846 | €131,848 | €129,477 | ▼ 1.8% |
| Amounts payable within one year42/48 | €25,354 | €26,141 | €60,846 | €131,848 | €129,477 | ▼ 1.8% |
| Trade debts44 | €354 | €13,681 | €2,529 | €1,840 | €23,412 | ▲ 1,172% |
| Suppliers440/4 | €354 | €13,681 | €2,529 | €1,840 | €23,412 | ▲ 1,172% |
| Taxes, remuneration and social security45 | - | - | €1,625 | - | - | - |
| Remuneration and social security454/9 | - | - | €1,625 | - | - | - |
| Other amounts payable47/48 | €25,000 | €12,460 | €56,692 | €130,008 | €106,065 | ▼ 18.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€7,500 | -€2,427 | -€14,864 | -€35,055 | -€59,946 | ▼ 71.0% |
| + Depreciation and write-downs630 | €18,228 | €19,318 | €21,914 | €24,306 | €25,274 | ▲ 4.0% |
| Operating cash flow (approximation) | €10,728 | €16,890 | €7,050 | -€10,749 | -€34,672 | ▼ 223% |
| Investment in fixed assets (approximation) | - | -€23,376 | -€23,640 | -€19,690 | -€2,806 | ▲ 85.8% |
| Change in cash | - | -€5,699 | -€1,600 | €19,326 | -€18,674 | ▼ 197% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
24-06
State Gazette act
Resignation: Raphaël REMICHE (director)Reappointments: Hervé REMICHE (director) and Dominic DAUSSAINT (director) · Director discharge · Declaration8 facts ▸
State Gazette act
Resignation: Raphaël REMICHE (director)
Reappointments: Hervé REMICHE (director) and Dominic DAUSSAINT (director) · Director discharge · Declaration8 facts ▸
- General meeting, 07-05-2026
- Director resignation, Raphaël REMICHE (director)
- Director discharge, Raphaël REMICHE (director)
- Director reappointment, Hervé REMICHE (director)
- Director reappointment, Dominic DAUSSAINT (director)
- Board composition, Hervé REMICHE (director)
- Board composition, Dominic DAUSSAINT (director)
- Declaration, unanimité des associés, Toutes les décisions ont été prises à l'unanimité des associés
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet -€59,946
Net result drops to -€59,946, the lowest in the series.
19-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
14-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
06-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
11-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
03-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €5,424
Net result €5,424 after one loss-making year.
08-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
09-03
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, last change in 2026
Dominic DAUSSAINT
CurrentDirector
Hervé REMICHE
CurrentDirector
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
3 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Schaarbeek · 1 establishment unit since 1992
Ground area
451 m²
Building footprint
132 m²
Volume, LiDAR
1,930 m³
Parcel 21910E0136/00Y003, Brussels · tallest building 19.9 m, ±6 floors. Linked by address, not a title deed.
14
companies at this address
See who is registered here
1 establishment unit
Vleugelsstraat 60, 1030 Schaarbeek
since 19922.056.368.128
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21910E0136/00Y003 | Brussels | 451 m² | 1 · 132 m² | 19.9 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
3 people since 2026, 2 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Dominic DAUSSAINT |
|
| Hervé REMICHE |
|
| Raphaël REMICHE |
|
Articles of association
Who signs
“L'assemblée confirme les mandats d'administrateur de Monsieur Hervé REMICHE et Dominic DAUSSAINT. Il n'y a pas d'autre administrateur. Chaque administrateur a le pouvoir pour engager la société, seul et sans limite. Les mandats sont exercés à titre gratuit, sauf décision contraire de l'assemblée…”
Full text
L'assemblée confirme les mandats d'administrateur de Monsieur Hervé REMICHE et Dominic DAUSSAINT. Il n'y a pas d'autre administrateur. Chaque administrateur a le pouvoir pour engager la société, seul et sans limite. Les mandats sont exercés à titre gratuit, sauf décision contraire de l'assemblée générale. Toutes les décisions ont été prises à l'unanimité des associés. Pour copie conforme, Hervé REMICHE, ADMINISTRATEUR
Board rule
Sauf décision contraire de l'assemblée générale, gratuit
Structure & network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Click a node to look further, drag to arrange, scroll to zoom.
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Of 2,276 companies in sector 90202 we hold annual accounts for 415. 296 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded11-12-1991
Fiscal year end31-12
Activities, NACEBEL 2025
90202Performing arts by artistic ensembles
90392Design and construction of stages and sets
Contact
Website
www.flat.brussels
E-mail
herve@flat.brussels
E-invoicing
Reachable via Peppol
Peppol ID
0208:0446126952
Also
9925:BE0446126952
Registered
20-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.