H&E Exploitations
InactiveInactive since 17-04-2026; last annual accounts for fiscal year 2025.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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 -€889,587
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-08-2026, 18 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
18 d late
2024
28 d late
2023
13 d late
2022
29 d late
2021
22 d late
2020
2 d late
2019
52 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 23 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2025, abbreviated schema
Equity
-€889,587▼ 14.0%
2024 · -€780,315
Total assets
€464,359▼ 14.4%
2024 · €542,280
Net result
-€109,272
2024 · €192,535
Working capital
-€672,282▼ 2.5%
2024 · -€656,113
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€66,738€12,195▼ 81.7%€44,539▲ 265%€193,129▲ 334%-€92,478
Net result€66,743€11,573▼ 82.7%€44,330▲ 283%€192,535▲ 334%-€109,272
Equity-€1.0m▲ 6.1%-€1.0m▲ 1.1%-€972,850▲ 4.4%-€780,315▲ 19.8%-€889,587▼ 14.0%
Total assets€606,239▲ 99.6%€497,824▼ 17.9%€364,241▼ 26.8%€542,280▲ 48.9%€464,359▼ 14.4%
Debt€1.6m▲ 16.9%€1.5m▼ 7.3%€1.3m▼ 11.7%€1.3m▼ 1.1%€1.4m▲ 2.4%
Working capital-€964,642▼ 15.3%-€1.1m▼ 10.8%-€928,948▲ 13.1%-€656,113▲ 29.4%-€672,282▼ 2.5%
Staff (FTE)5.4▼ 75.2%1.4▼ 74.1%1.1▼ 21.4%1▼ 9.1%0.1▼ 90.0%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €92,478 after €193,129 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €464,359
Fixed assets
€135,389 ▼ 43.1%
Current assets
€328,970 ▲ 8.2%
Key figures and ratios
EBITDA
€10,281▼
2024 · €297,587
Cash flow
-€6,513▼
2024 · €296,993
Solvency
-191.6%▼
2024 · -143.9%
Current ratio
0.33▲
2024 · 0.32
Debt to equity
-1.52▲
2024 · -1.69
ROA
-23.5%▼
2024 · 35.5%
Interest coverage
0.61▼
2024 · 499.31
Debt ≤ 1 year
€1.0m▲
2024 · €960,245
Debt > 1 year
€347,683=
2024 · €347,683
Staff costs
€6,415▼
2024 · €117,098
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €145,302 | €121,934 | €118,027 | €117,098 | €6,415 | ▼ 94.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €58,980 | €100,752 | €105,216 | €104,458 | €102,759 | ▼ 1.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | -€2,524 | - |
| Other operating charges640/8 | €9,545 | €12,679 | €6,552 | €6,015 | €3,806 | ▼ 36.7% |
| Non-recurring operating charges66A | €5,837 | €2,480 | - | - | - | - |
| Gross operating margin9900 | €286,402 | €250,040 | €274,334 | €420,700 | €17,978 | ▼ 95.7% |
| Operating profit (loss)9901 | €66,738 | €12,195 | €44,539 | €193,129 | -€92,478 | ▼ 148% |
| Financial income75/76B | €494 | €576 | €1,362 | €2 | - | - |
| Recurring financial income75 | €494 | €576 | €1,362 | €2 | - | - |
| Financial charges65/66B | €489 | €1,198 | €1,571 | €596 | €16,794 | ▲ 2,718% |
| Recurring financial charges65 | €489 | €1,198 | €1,571 | €596 | €16,794 | ▲ 2,718% |
| Profit (loss) for the period before taxes9903 | €66,743 | €11,573 | €44,330 | €192,535 | -€109,272 | ▼ 157% |
| Profit (loss) for the period9904 | €66,743 | €11,573 | €44,330 | €192,535 | -€109,272 | ▼ 157% |
| Profit (loss) for the period to be appropriated9905 | €66,743 | €11,573 | €44,330 | €192,535 | -€109,272 | ▼ 157% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €606,239 | €497,824 | €364,241 | €542,280 | €464,359 | ▼ 14.4% |
| Fixed assets21/28 | €479,542 | €442,147 | €342,606 | €238,148 | €135,389 | ▼ 43.1% |
| Intangible fixed assets21 | €220,200 | €185,431 | €150,663 | €115,894 | €81,126 | ▼ 30.0% |
| Tangible fixed assets22/27 | €258,942 | €256,316 | €191,543 | €121,854 | €53,863 | ▼ 55.8% |
| Plant, machinery and equipment23 | €5,148 | €13,100 | €14,115 | €9,579 | €5,331 | ▼ 44.3% |
| Furniture and vehicles24 | €9,856 | €7,100 | €4,344 | €1,589 | - | - |
| Other tangible fixed assets26 | €243,938 | €236,116 | €173,084 | €110,686 | €48,532 | ▼ 56.2% |
| Financial fixed assets28 | €400 | €400 | €400 | €400 | €400 | = |
| Current assets29/58 | €126,697 | €55,677 | €21,635 | €304,132 | €328,970 | ▲ 8.2% |
| Amounts receivable within one year40/41 | €111,006 | €52,767 | €21,559 | €303,744 | €328,063 | ▲ 8.0% |
| Trade receivables40 | €82,903 | €43,845 | €17,501 | €303,744 | €280,251 | ▼ 7.7% |
| Other amounts receivable41 | €28,103 | €8,922 | €4,058 | - | €47,812 | - |
| Current investments50/53 | - | - | - | €388 | €907 | ▲ 134% |
| Cash at bank and in hand54/58 | €1,329 | €1,115 | €76 | - | - | - |
| Deferred charges and accrued income490/1 | €14,362 | €1,795 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €606,239 | €497,824 | €364,241 | €542,280 | €464,359 | ▼ 14.4% |
| Equity10/15 | -€1.0m | -€1.0m | -€972,850 | -€780,315 | -€889,587 | ▼ 14.0% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Tax-exempt reserves132 | €1.2m | €1.2m | €1.2m | - | - | - |
| Distributable reserves133 | €1,860 | €1,860 | €1,860 | €1.2m | €1.2m | = |
| Profit (loss) carried forward14 | -€2.2m | -€2.2m | -€2.2m | -€2.0m | -€2.1m | ▼ 5.5% |
| Amounts payable17/49 | €1.6m | €1.5m | €1.3m | €1.3m | €1.4m | ▲ 2.4% |
| Amounts payable after more than one year17 | €536,378 | €347,683 | €347,684 | €347,683 | €347,683 | = |
| Financial debts170/4 | €347,683 | €347,683 | €347,684 | €347,683 | €347,683 | = |
| Trade debts175 | €188,695 | - | - | - | - | - |
| Amounts payable within one year42/48 | €1.1m | €1.1m | €950,583 | €960,245 | €1.0m | ▲ 4.3% |
| Current portion of amounts payable after more than one year42 | - | €514 | €2,401 | - | - | - |
| Trade debts44 | €353,696 | €486,414 | €371,278 | €354,000 | €305,518 | ▼ 13.7% |
| Suppliers440/4 | €353,696 | €486,414 | €371,278 | €354,000 | €305,518 | ▼ 13.7% |
| Taxes, remuneration and social security45 | €11,993 | €30,972 | €12,025 | €11,185 | €974 | ▼ 91.3% |
| Taxes450/3 | - | €19,758 | - | €2,224 | - | - |
| Remuneration and social security454/9 | €11,993 | €11,214 | €12,025 | €8,961 | €974 | ▼ 89.1% |
| Other amounts payable47/48 | €725,650 | €607,046 | €564,879 | €595,060 | €694,760 | ▲ 16.8% |
| Accrued charges and deferred income492/3 | €7,275 | €42,375 | €38,824 | €14,667 | €5,011 | ▼ 65.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €66,743 | €11,573 | €44,330 | €192,535 | -€109,272 | ▼ 157% |
| + Depreciation and write-downs630 | €58,980 | €100,752 | €105,216 | €104,458 | €102,759 | ▼ 1.6% |
| Operating cash flow (approximation) | €125,723 | €112,325 | €149,546 | €296,993 | -€6,513 | ▼ 102% |
| Investment in fixed assets (approximation) | - | -€63,357 | -€5,675 | €0 | €0 | - |
| Change in cash | - | -€214 | -€1,039 | - | - | - |
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
18-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 18 days late
27-01
State Gazette act
RestructuringMerger · Accounting effect2 facts ▸
State Gazette act
Restructuring
Merger · Accounting effect2 facts ▸
- Merger, fusie door overneming gelijkgestelde verrichting
- Accounting effect, 01-01-2026
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 28 days late
2024
13-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 13 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 29 days late
2022
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 22 days late
2021
31-12
Financial
Back to profitnet €66,743
Net result €66,743 after 2 loss-making years.
02-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 2 days late
2020
31-12
Financial
Weakest financial yearnet -€246,626
Net result drops to -€246,626, the lowest in the series.
21-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 52 days late
2019
09-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 9 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2017
06-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 12 acts read
About the unread acts
Of the 12 Belgian State Gazette acts we know for this company, 1 has been read. The other 11 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
12 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Antwerpen
Ground area
1,519 m²
Building footprint
582 m²
Volume, LiDAR
3,551 m³
Parcel 11811L3935/00P000, Flanders · tallest building 13.3 m, ±2 floors. Linked by address, not a title deed.
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11811L3935/00P000 | Flanders | 1,519 m² | 1 · 581 m² | 13.2 m · 2 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.
Structure & network
Connections & network
No current directors or connected companies found in the register.
Acquisitions and mergers
1 transactionTaken over by:LET'S THINK
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 1,386 EUR awarded · 1,386 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 1,386 EUR | 1,386 EUR |
Identification & contact
Identification
Legal formPrivate limited company
Founded25-10-2011
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0840585271
Registered
21-07-2025
The company is no longer active; its Peppol card can remain until its access point withdraws it.
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.