H & E PROJECTS
ActiveFrom the official registers: KBO 30 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
H & E PROJECTS has been active since 1995 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€242,899) and a net result of €6,882. Equity remains stable across the filed financial years (±1.4% per year). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
Official details
KBO- Status
- Active since 26-10-1995 Normal situation
- Legal form
- Public limited company
- Registered office
- Schrieksebaan 135, 3140 Keerbergen
- Activity
- “De vennootschap kan voor eigen rekening,voor rekening van derden of in deelneming met derden,bijdragen…” (deed in Dutch)From the articles, 10 activitiesNo NACE code in the KBO yet
- Establishment unit
- 2.074.112.495 3140 Keerbergen, since 01-12-1995
- Financial year end
- 31 December
- Peppol
- Reachable since 29-10-2025
Who decides
- Fierens RonaldManaging director
- Míchielsen MargrietDirector · since 12-07-2017
How it is doing
- Bankruptcy probabilitywithin 12 months
- 0.3%
- Gross margin
- €13,986
- ▲ 49.7%
- Turnover
- ≈ €94,000
- estimated
- Profit
- €6,882
- ▲ 734%
- Equity
- -€242,899
- ▲ 2.8%
- Total assets
- €146,103
- ▲ 30.3%
Why 55raises riskCapped at 59: negative equityNegative equity -€242,899lowers riskSize: total assets €146,103Founded in 1995Figures for financial year 2025 (filed 23-07-2026)Show the evidence
Checked score
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 (no NACE code, micro): better than 5% on solvency, 51% on liquidity, 57% on profitability and 56% on growth.
The bankruptcy probability was computed on 31-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 8 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
Financials · financial year 2025, abbreviated format
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 23-07-2026
- Format
- abbreviated format
- Reference
- 2026-00321731
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 9.1 times 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
Peer companies
Historical observationOf the 1,449 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 92.2% are still going.
- Micro
- 20 years or older
- negative equity
- a profit under 5% of the balance sheet
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% 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 497,445 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% | 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 1,449 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €57,000 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0 | - | - | - | - | - | €864 | €4,422 | ▲ 412% |
| Other operating charges640/8 | - | - | - | €6,312 | €6,467 | €7,014 | €7,504 | €712 | ▼ 90.5% |
| Gross operating margin9900 | -€11,703 | €69,064 | -€10,875 | €4,174 | €49,715 | -€9,485 | €9,342 | €13,986 | ▲ 49.7% |
| Operating profit (loss)9901 | -€18,122 | €63,054 | -€17,140 | -€2,138 | €43,248 | -€16,499 | €974 | €8,851 | ▲ 809% |
| Financial income75/76B | - | - | - | - | - | - | €2 | €0 | ▼ 100% |
| Recurring financial income75 | €21 | €0 | - | - | - | - | €2 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €4,980 | €5,309 | €6,223 | €150 | €1,970 | ▲ 13× |
| Recurring financial charges65 | €7,628 | €6,520 | €5,226 | €4,980 | €5,309 | €6,223 | €150 | €1,970 | ▲ 13× |
| Profit (loss) for the period before taxes9903 | -€25,729 | €56,534 | -€22,366 | -€7,118 | €37,939 | -€22,722 | €826 | €6,882 | ▲ 734% |
| Income taxes67/77 | €0 | €0 | - | - | - | - | - | - | - |
| Profit (loss) for the period9904 | -€25,729 | €56,534 | -€22,366 | -€7,118 | €37,939 | -€22,722 | €826 | €6,882 | ▲ 734% |
| Profit (loss) for the period to be appropriated9905 | -€25,729 | €56,534 | -€22,366 | -€7,118 | €37,939 | -€22,722 | €826 | €6,882 | ▲ 734% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €106,822 | €100,570 | €100,238 | €114,380 | €100,777 | €100,325 | €112,144 | €146,103 | ▲ 30.3% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €95,026 | €95,026 | €95,026 | €95,026 | €95,026 | €95,026 | €108,026 | €139,721 | ▲ 29.3% |
| Intangible fixed assets21 | €0 | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €95,026 | €95,026 | €95,026 | €95,026 | €95,026 | €95,026 | €108,026 | €139,721 | ▲ 29.3% |
| Land and buildings22 | - | - | - | €95,026 | €95,026 | €95,026 | €106,386 | €138,434 | ▲ 30.1% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €1,640 | €1,288 | ▼ 21.5% |
| Financial fixed assets28 | €0 | - | - | - | - | - | - | - | - |
| Current assets29/58 | €11,796 | €5,544 | €5,212 | €19,354 | €5,751 | €5,300 | €4,118 | €6,382 | ▲ 55.0% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0 | €18 | €0 | €1,651 | €318 | €0 | €1,690 | €0 | ▼ 100% |
| Trade receivables40 | - | - | - | €1,651 | €259 | €0 | €1,690 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | - | €58 | €0 | - | - | - |
| Current investments50/53 | €0 | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €10,528 | €4,242 | €3,693 | €16,385 | €3,622 | €3,989 | €790 | €5,781 | ▲ 632% |
| Deferred charges and accrued income490/1 | - | - | - | €1,318 | €1,812 | €1,311 | €1,638 | €601 | ▼ 63.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €106,822 | €100,570 | €100,238 | €114,380 | €100,777 | €100,325 | €112,144 | €146,103 | ▲ 30.3% |
| Equity10/15 | -€292,873 | -€236,339 | -€258,705 | -€265,823 | -€227,884 | -€250,606 | -€249,781 | -€242,899 | ▲ 2.8% |
| Contributions10/11 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Capital10 | - | - | - | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Issued capital100 | - | - | - | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Reserves13 | €9,000 | €9,000 | €9,000 | €9,000 | €9,000 | €9,000 | €9,000 | €9,000 | = |
| Non-distributable reserves130/1 | - | - | - | €9,000 | €9,000 | €9,000 | €9,000 | €9,000 | = |
| Legal reserve130 | - | - | - | €9,000 | €9,000 | €9,000 | €9,000 | €9,000 | = |
| Profit (loss) carried forward14 | -€363,846 | -€307,312 | -€329,678 | -€336,797 | -€298,857 | -€321,579 | -€320,754 | -€313,872 | ▲ 2.1% |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €399,695 | €336,909 | €358,943 | €380,203 | €328,661 | €350,932 | €361,925 | €389,002 | ▲ 7.5% |
| Amounts payable after more than one year17 | €67,865 | €11,632 | €0 | - | - | - | €350,000 | €373,543 | ▲ 6.7% |
| Financial debts170/4 | - | - | - | - | - | - | €350,000 | €373,543 | ▲ 6.7% |
| Amounts payable within one year42/48 | €331,829 | €325,276 | €358,943 | €380,130 | €328,661 | €350,932 | €10,235 | €13,705 | ▲ 33.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0 | - | - | - | €6,372 | - |
| Financial debts43 | - | - | - | €200,000 | €136,000 | €0 | - | - | - |
| Credit institutions430/8 | - | - | - | €200,000 | €136,000 | €0 | - | - | - |
| Trade debts44 | €95 | €270 | €1,011 | €2,878 | €462 | €161 | €1,765 | €186 | ▼ 89.5% |
| Suppliers440/4 | - | - | - | €2,878 | €462 | €161 | €1,765 | €186 | ▼ 89.5% |
| Taxes, remuneration and social security45 | - | - | - | €953 | €0 | €171 | €371 | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | €953 | €0 | €171 | €371 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €176,299 | €192,199 | €350,599 | €8,099 | €7,147 | ▼ 11.8% |
| Accrued charges and deferred income492/3 | - | - | - | €72 | €0 | - | €1,690 | €1,754 | ▲ 3.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€25,729 | €56,534 | -€22,366 | -€7,118 | €37,939 | -€22,722 | €826 | €6,882 | ▲ 734% |
| + Depreciation and write-downs630 | €0 | - | - | - | - | - | €864 | €4,422 | ▲ 412% |
| Operating cash flow (approximation) | -€25,729 | €56,534 | -€22,366 | -€7,118 | €37,939 | -€22,722 | €1,690 | €11,304 | ▲ 569% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | -€13,865 | -€36,117 | ▼ 160% |
| Change in cash | - | -€6,286 | -€549 | €12,692 | -€12,763 | €367 | -€3,199 | €4,991 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 30 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 23-07-2026 | 2026-00321731 | NBB |
| 31-12-2024 | micro format | 30-07-2025 | 2025-00330409 | |
| 31-12-2023 | micro format | 01-08-2024 | 2024-00328584 | |
| 31-12-2022 | micro format | 27-07-2023 | 2023-00308471 | |
| 31-12-2021 | micro format | 08-08-2022 | 2022-20279374 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-65400089 | |
| 31-12-2019 | micro format | 29-08-2020 | 2020-47700182 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-59800530 | |
| 31-12-2017 | abbreviated format | 31-08-2018 | 2018-61700279 | |
| 31-12-2016 | abbreviated format | 14-08-2017 | 2017-43500144 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 2
Day-to-day management 1
Mandate history
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Fierens Ronald |
|
| Míchielsen Margriet |
|
| Private Stichting Savoir Fair |
|
How the board is organised
- Board ruleHow the board is made up, meets and takes decisions.
- “Enige bestuurder of raad met minimum aantal leden door wet voorgeschreven, 6 jaar”“Raad van bestuur, algemene vergadering kan functie elke bestuurder te allen tijde zonder opgave van redenen met onmiddellijke ingang…”“Door loutere kennisgeving aan raad van bestuur, verplicht opdracht verder te vervullen tot vervanging binnen redelijke termijn”“Eerstvolgende algemene vergadering moet bevestigen, volbrengt functie voorganger tenzij algemene vergadering anders beslist”“Raad kiest voorzitter uit midden, raad kan ondervoorzitter benoemen”“Plaats in oproepingsbrief,bij gebrek zetel vennootschap, telkens belang vennootschap vereist”
Articles of association, deed of 28-04-2023 (in Dutch)
Owners and capital
Capital and shareholders
- 28-04-2023 Capital stated in the deed · €61,973.38 · 250 shares
Other provisions of the articles of association
- Other provisionsRules from the articles on subjects other than the board, the shares, the purpose and the meetings.
- Other provision: “Besluitvorming raad van bestuur, helft leden aanwezig of vertegenwoordigd”Other provision: “Notulen raad van bestuur, besluiten in notulen”Other provision: “Geheel bestuursbevoegdheden, Bevoegdheden bestuursorgaan-enige bestuurder”Other provision: “Dagelijks bestuur-enige bestuurder, op elk ogenblik ontslaan”Other provision: “Dagelijks bestuur-raad van bestuur, op elk ogenblik ontslaan”Other provision: “Niet bezoldigd behoudens andersluidende beslissing algemene vergadering, Vergoeding bestuurders”Other provision: “Wettelijke bepalingen, Winstverdeling”1 more provision in the deed, see the deed of 28-04-2023
Articles of association, deed of 28-04-2023 (in Dutch)
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
08-08
Gazette deed
Reappointment: Míchielsen Margriet (director)3 facts ▸
- General meeting, 26-05-2023
- Director reappointment, Míchielsen Margriet (director)
- Other provision, “publicatienummer”, 23102741 (deed in Dutch)
28-04
Gazette deed
Registered officeRegistered-office move · Purpose change · Amendment of the articles7 facts ▸
- General meeting, “buitengewone algemene vergadering” (deed in Dutch)
- Registered-office move
- Purpose change
- Amendment of the articles
- Capital, €61,973.38
- Registered office clause, “werkelijke zetel, 3140 Keerbergen,Schrieksebaan 135” (deed in Dutch)
- Power of attorney
04-10
Gazette deed
Resignation: Private Stichting Savoir Fair (director and managing director)Permanent representative: Fierens Ronald · Appointment: Fierens Ronald (director and managing director) · Director discharge5 facts ▸
- General meeting, 29-05-2021
- Director resignation, Private Stichting Savoir Fair (director and managing director)
- Director discharge, Private Stichting Savoir Fair
- Permanent representative, Fierens Ronald
- Director appointment, Fierens Ronald (director and managing director)
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Who it is
KBO recordWhere it is based
Invoicing and payment
Financial year and general meeting
Accounts at the NBBScores and ratios are computed by Checked and are not a credit decision.
Purpose, financial year and meetings according to the articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “De vennootschap kan voor eigen rekening,voor rekening van derden of in deelneming met derden,bijdragen tot de vestiging en de ontwikkeling…”
10 activities
- De vennootschap kan voor eigen rekening,voor rekening van derden of in deelneming met derden,bijdragen tot de vestiging en de ontwikkeling van ondernemingen door inbreng,participatie of investering.
- Ze kan door inschrijving of aankoop aandelen,obligaties,kasbons of andere roerende waarden van welke vorm ook,van Belgische of buitenlandse,bestaande of nog op te richten vennootschappen verwerven of beheren.
- De vennootschap kan leningen en kredietopeningen toestaan aan vennootschappen of particulieren,onder om het even welke vorm;in dit kader kan zij zich ook borg stellen of haar aval verlenen,in de meest ruime zin,alle handels- en financiële operaties verrichten,behalve die welke wettelijk voorbehouden zijn aan depositobanken,houders van deposito’s op korte termijn,spaarkassen,hypotheekmaatschappijen en kapitalisatie-ondernemingen.
- Het aanleggen,het oordeelkundig beheer en het uitbreiden van een roerend en onroerend vermogen;alle studiën en operaties met betrekking tot alle onroerende goederen en rechten en tot alle roerende goederen en rechten welke daaruit voortvloeien,zoals de aankoop,de bouw,de verbouwing,de aanpassing,de huur en onderhuur zowel op korte als op lange termijn,de ruiling,de verkoop en,in het algemeen,alle operaties die rechtstreeks of onrechtstreeks betrekking hebben op het beheer of op het productief maken voor zichzelf of voor anderen van alle bebouwde of onbebouwde onroerende eigendommen.
- De vennootschap kan overgaan tot de aankoop en verkoop van onroerende en roerende goederen,alsmede alle handelingen stellen die rechtstreeks of onrechtstreeks met dit doel in verband staan,zoals het onderhoud,de ontwikkeling,de verfraaiing en verhuring van deze goederen alsmede zich borg stellen voor het goede verloop van verbintenissen door derde personen aangegaan die het genot zouden hebben van deze goederen.
- De vennootschap kan octrooien,patenten,tekeningen,modellen,merken en andere immateriële activa ontwikkelen,kopen,verkopen en in licentie nemen of geven.
- Ze mag alle bedrijvigheden uitoefenen die de verwezenlijking van haar doel kunnen bevorderen en op enigerlei wijze aan zo’n bedrijvigheid deelnemen.
- De vennootschap kan alle bestuursopdrachten,mandaten en functies waarnemen welke rechtstreeks of onrechtstreeks met haar maatschappelijk doel verband houden.
- Zij zal in het kader van haar werkzaamheden alle onroerende en roerende verrichtingen mogen stellen,die nodig of nuttig kunnen zijn voor de verwezenlijking van haar voorwerp.
- De vennootschap mag alle daden stellen die rechtstreeks of onrechtstreeks nuttig of dienstig kunnen zijn om het maatschappelijk voorwerp te verwezenlijken,te bevorderen en te vergemakkelijken,dit alle in de breedste zin genomen.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- H & E PROJECTS
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest, 3140 Keerbergen,Schrieksebaan 135”
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last Friday of May at 17:00
Articles of association, deed of 28-04-2023 (in Dutch)
Environmental permits: No permit applications found in Flanders.
Sites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 24048D0171/00C000 | Flanders | 1,325 m² | 1 · 240 m² | 7.2 m · 1 |