Equity
€20.3m ▼ 1.9%
HET WATERHUIS paid out €1.0m in dividends. That is 166% of the 2025 profit.
HET WATERHUIS
Lifetime
18 annual accounts with figures on one time axispeak €6.8m (2024)
€1.8m▼ 73.7%
lowest -€90,710 (2008)
€602,125▼ 76.1%
peak €20.7m (2024)
€20.3m▼ 1.9%
€17.4m▼ 27.6%
peak 6.3 FTE (2012)
3.6 FTE▼ 2.7%
Board3 names since 2022
3 directorsFranky VANHEE and 2 others
Documentsfilings and deeds
21-05-202640 days before the deadline
2025abbreviated format
Gross margin from €6.8m to €1.8mResult from €2.5m to €602,125Dividend €1.0mDebts from €24.1m to €17.4mCash from €2.8m to €4.3m
Key points
from the 2025 annual accountsResult
€602,125 ▼ 76.1%
The result fell in 2025: 12-month financial year.
Investments
€701,332 9.0 × depreciation
Green is investment, beige is depreciation. Land and buildings stand 11.6% higher than in 2024.
Staff
3.6 FTE from 6.3 in 2012
Between 2012 and 2025, 43% of the full-time equivalents disappeared.
Filings
18 annual accounts since 2006
The last five annual accounts were filed 16 to 45 days before the end of the period.
Position in the sector
€20.3m
More equity than 95% of companies in head offices and management consultancy. Sector median €323,509 · 10,866 companies.
Checked score
91
Excellent
Financially stronger than 32% of micro companies in head offices and management consultancy (NACE 70)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 48,570 companies (NACE 70, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.9%
01-2025: 1.4%▲ +0.5 percentage points vs 12-2024
02-2025: 1.4%● unchanged vs 01-2025
03-2025: 1.4%● unchanged vs 02-2025highest value
04-2025: 1.3%▼ -0.1 percentage points vs 03-2025
05-2025: 1.3%● unchanged vs 04-2025
06-2025: 0.1%▼ -1.2 percentage points vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: < 0.1%▼ -0.1 percentage points vs 05-2026lowest value
07-2026: < 0.1%● unchanged vs 06-2026lowest value
08-2026: < 0.1%● unchanged vs 07-2026lowest value
09-2026: < 0.1%● unchanged vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026lowest value
11-2026: < 0.1%● unchanged vs 10-2026lowest value
Financial strengthAverage
Score breakdown
lowers risk
Size: 3.6 FTE, total assets €37.7m
Figures for financial year 2025 (filed on 21-05-2026)
Equity €20.3m (53.8% of total assets)
Sector: Activities of head offices; management consultancy activities (NACE 70)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, micro). It does better than 49% of them on solvency, 24% on liquidity, 19% on profitability and 36% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 30-11-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 17,041 companies had the same profile as HET WATERHUIS has now. Each dot stands for 43 companies, two years later.
94.4%
were still trading
4.9%
stopped another way
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of HET WATERHUIS itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 17,041 companies, not a prediction for HET WATERHUIS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €1,800,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.09 (1.05 in 2024), below the usual 1.5. Short-term debt is 42.6% and cash 11.4% of total assets. 46.2% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
5 signals, none raises the risk
Five signals.
lowers riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 30-11-2025 was due by 30-06-2026 and was filed on 21-05-2026, 40 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
40 days early
2024
45 days early
2022
31 days early
2021
33 days early
2020
16 days early
2019
52 days early
2018
29 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 35 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 30-11-2026 and is due by 30-06-2027. Nothing is late today.
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today30-11-2026 year end30-06-2027 deadline
Board and ownership
Shares in 3 companies, including GROEP VANHEE and GVH REAL ESTATE
Board & ownershipRecent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0876572865
3 directors appointed, 2 resignations
Resignations: Franky VANHEE and Pieter CALUS · Appointments: Franky VANHEE, Pieter CALUS and William VANHEE · “1.Projectontwikkeling inzake niet-residentiële onroerende goederen.Projectontwikkeling inzake residentiële…” (deed in Dutch) · Gazette deed
First establishment
Kortrijksestraat 439, Oostkamp
Incorporation
published on 19-10-2005 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| HET WATERHUIS Oostkamp | €37.7m | €1.8m | 53.8% | 3.6 |
| D.P. DISTRIBUTION Mechelen | €36.9m | €1.3m | 65.0% | 4.3 |
| MANCA Nieuwpoort | €38.1m | €1.6m | 85.8% | 4 |
| RNB INVEST Knokke-Heist | €48.6m | €1.3m | 96.5% | 2.8 |
| VAN HYFTE INVEST Blankenberge | €36.9m | €2.9m | 29.9% | 1.9 |
| M&K Dendermonde | €20.5m | €2.2m | 66.7% | 3.9 |
| DEROOSE PROJECTS Kruisem | €34.2m | €1.1m | 99.7% | 2 |
These companies have the same main activity as HET WATERHUIS: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €21m and €49m, founded between 1993 and 2006.
Official details
Source: KBO- Status
- Active since 10-10-2005Normal situation
- Activity
- Business and other management consultancyNACE 70200and 3 others
- Joint committees
- 100Auxiliary committee for blue-collar workers
- 200Auxiliary committee for white-collar workers · annual accounts 2022
- Establishment unit
- 2.150.023.8068020 Oostkamp, since 21-11-2005
- Financial year end
- 30 November
- Peppol
- Reachable since 05-12-2025
Annual accounts to 30-11-2025
- ≈ €3.4mestimated
- €37.7m▼ 15.7%
- Employeeson 30-11-2025
- 5=
- Filing
- Filed on 21-05-2026, 40 days before the end of the filing period
Companies linked to HET WATERHUIS
Subsidiaries and holdings
- LUKONA99%
Insights on HET WATERHUIS
HET WATERHUIS files the abbreviated format. That format states no turnover. The gross margin rose from €114,112 in 2006 to €1.8m in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about HET WATERHUIS
- What is the company number of HET WATERHUIS?
- The company number of HET WATERHUIS is 0876.572.865. The VAT number is the same number with BE in front: BE 0876.572.865.
- Where is HET WATERHUIS based?
- The registered office is at Kortrijksestraat 439, 8020 Oostkamp.Company details
- What does HET WATERHUIS do?
- According to the KBO register, the main activity is business and other management consultancy (NACE 70200).
- What is the legal form of HET WATERHUIS?
- HET WATERHUIS is a private limited company (BV).
- When was HET WATERHUIS founded?
- HET WATERHUIS was founded on 10-10-2005.
- Is HET WATERHUIS still active?
- Yes, HET WATERHUIS is an active enterprise in the KBO register.
- How many employees does HET WATERHUIS have?
- HET WATERHUIS had an average of 3.6 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does HET WATERHUIS fall under?
- In its 2022 annual accounts, HET WATERHUIS states joint committees 100 (Auxiliary committee for blue-collar workers) and 200 (Auxiliary committee for white-collar workers).
- What is the turnover of HET WATERHUIS?
- The turnover in financial year 2025 is ≈ €3.4m. This figure is estimated from the gross margin of €1.8m and 36 comparable companies (NACE 70200). It probably lies between €2.4m and €4.3m. In financial year 2019 turnover was €7.1m.
- Is HET WATERHUIS profitable?
- In financial year 2025, HET WATERHUIS made a profit of €602,125.
- Where can I find the annual accounts of HET WATERHUIS?
- HET WATERHUIS filed 18 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of HET WATERHUIS due?
- HET WATERHUIS must file the annual accounts for financial year 2026 by 30-06-2027.Timeline
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