H2eau systems
ActiveH2eau systems has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €133k and a net result of €33k. Equity is growing by ~18.8% per year across the filed fiscal years. Its solvency ranks better than 48% of 36373 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
70
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability83▲+15
Solvency70▼-4
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity ample (current ratio 1.85 against 1.7 in 2023; short-term debt: 34.3% and cash: 14.5% of total assets), but 55% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-07-2025, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
1 d early
2023
29 d late
2022
60 d early
2021
47 d early
2020
51 d early
2019
49 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€133k▲ 16.9%
2023 · €113k
2018: €42k
2019: €66k
2020: €68k
2021: €85k
2022: €114k
2023: €113k
2018 → 2024
Total assets
€295k▲ 26.3%
2023 · €234k
2018: €149k
2019: €185k
2020: €263k
2021: €378k
2022: €291k
2023: €234k
2018 → 2024
Net result
€33k
2023 · €-2k
2018: €12k
2019: €25k
2020: €3k
2021: €17k
2022: €36k
2023: €-2k
2018 → 2024
Working capital
€86k▲ 42.3%
2023 · €61k
2018: €27k
2019: €67k
2020: €29k
2021: €23k
2022: €52k
2023: €61k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€68k-€85k▲ 24.8%€114k▲ 35.0%€113k▼ 0.6%€133k▲ 16.9%
Operating result€9k-€27k▲ 198%€56k▲ 111%€15k▼ 73.7%€47k▲ 218%
Net result€3k-€17k▲ 403%€36k▲ 112%€-2k€33k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 218% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €295k
Fixed assets
€107k▲ 24.9%
Current assets
€188k▲ 27.1%
Equity and liabilities €295k
Equity
€133k▲ 16.9%
Debt
€162k▲ 35.1%
The debt ratio rises from 51.4% to 55.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€84k▲
2023 · €51k
Cash flow
€71k▲
2023 · €35k
Solvency
45.0%▼
2023 · 48.6%
Current ratio
1.85▲
2023 · 1.70
Quick ratio
1.48▲
2023 · 1.24
Debt / equity
1.22▲
2023 · 1.06
ROE
25.1%▲
2023 · -1.4%
ROA
11.3%▲
2023 · -0.7%
Interest coverage
6.82▼
2023 · 9.27
Debt
€162k▲
2023 · €120k
Debt ≤ 1 year
€101k▲
2023 · €87k
Debt > 1 year
€59k▲
2023 · €32k
Income taxes
€2k▼
2023 · €12k
Staff costs
€121k▼
2023 · €157k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€234k€295k▲
Fixed assets21/28€86k€107k▲
Tangible fixed assets22/27€84k€106k▲
Plant, machinery and equipment23€45k€36k▼
Furniture and vehicles24€16k€10k▼
Leasing and similar rights25€12k€50k▲
Other tangible fixed assets26€11k€9k▼
Financial fixed assets28€1k€1k=
Current assets29/58€148k€188k▲
Stocks and contracts in progress3€40k€37k▼
Stocks30/36€40k€37k▼
Amounts receivable within one year40/41€71k€76k▲
Trade receivables40€63k€41k▼
Other amounts receivable41€8k€35k▲
Cash at bank and in hand54/58-€43k
Deferred charges and accrued income490/1€37k€31k▼
Equity and liabilities
Total equity and liabilities10/49€234k€295k▲
Equity10/15€113k€133k▲
Contributions10/11€12k€0▼
Reserves13€103k€133k▲
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€103k€133k▲
Profit (loss) carried forward14€-2k€0▲
Amounts payable17/49€120k€162k▲
Amounts payable after more than one year17€32k€59k▲
Financial debts170/4€32k€59k▲
Amounts payable within one year42/48€87k€101k▲
Current portion of amounts payable after more than one year42€22k€18k▼
Financial debts43€30k€38▼
Credit institutions430/8€30k€0▼
Other loans439-€38
Trade debts44€22k€79k▲
Suppliers440/4€22k€79k▲
Advances received on contracts in progress46€8k€0▼
Taxes, remuneration and social security45€4k€2k▼
Taxes450/3€3k€0▼
Remuneration and social security454/9€932€2k▲
Other amounts payable47/48€456€2k▲
Accrued charges and deferred income492/3€1k€1k=
Income statement
Code20232024
Non-recurring operating income76A-€9k
Remuneration, social security and pensions62€157k€121k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€36k€37k▲
Other operating charges640/8€3k€3k▲
Non-recurring operating charges66A€0€417▲
Gross operating margin9900€210k€209k▼
Operating profit (loss)9901€15k€47k▲
Financial income75/76B€788€720▼
Recurring financial income75€788€720▼
Financial charges65/66B€5k€12k▲
Recurring financial charges65€5k€12k▲
Profit (loss) for the period before taxes9903€10k€35k▲
Income taxes67/77€12k€2k▼
Profit (loss) for the period9904€-2k€33k▲
Profit (loss) for the period to be appropriated9905€-2k€33k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-2k€32k▲
Profit (loss) brought forward from the previous period14P-€-2k
Transfer from equity791/2€0€2k▲
Transfer to equity691/2€0€32k▲
To other reserves6921€0€32k▲
Profit to be distributed694/7€0€2k▲
Return on contributions (dividend)694€0€2k▲
Social balance
Average headcount (FTE)90872.5-
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €33k
Net result €33k after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
31-12
Financial
Weakest financial yearnet €-2k ▼104%
Net result drops to €-2k, the lowest in the series; recovery starts the following year.
01-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €36k ▲112%
Operating result €56k, net result €36k, both a record.
31-12
Financial
Equity above €100kEq €114k ▲35%
5 profitable years in a row build equity to €114k.
14-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
10-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
12-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
21-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
06-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
16-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Geel · 1 establishment unit since 2009
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Poiel 682440 GeelGround area
1,347 m²
Building footprint
271 m²
Volume, LiDAR
1,504 m³
Parcel 13373L0191/00D000, Flanders · tallest building 10.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
H2eau systems
since 20092.182.567.207
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13373L0191/00D000 | Flanders | 1,347 m² | 1 · 271 m² | 10.5 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 3,593 EUR awarded · 3,242 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,746 EUR | 1,586 EUR |
| 2024 | 1 | 191 EUR | 117 EUR |
| 2023 | 1 | 983 EUR | 866 EUR |
| 2022 | 1 | 673 EUR | 673 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 15,529 companies in sector 43990 we hold annual accounts for 7,423. 6,141 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded27-10-2009
Fiscal year end31-12
Activities, NACEBEL
43990Other specialised construction activities
43999Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.