HAELVOET
ActiveHAELVOET has been active since 1976 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €9.52M and a net result of €636k. Equity remains stable across the filed fiscal years (±1% per year). Its solvency ranks better than 56% of 130 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
67
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability65▲+4
Solvency72▼-4
Growth69▲+13
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €600k at 30 days acceptable
Liquidity tight (current ratio 1.37 against 1.34 in 2024; short-term debt: 48% and cash: 1.3% of total assets), and 53% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 31
Relative position
BE, all sectors
reference
Sector 31
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
47%
Return on assets
3.1%
Age of the figures
18 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €9.52M
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 29-10-2025, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
23 d early
2023
26 d early
2022
29 d late
2021
5 d late
2020
10 d early
2019
8 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close19-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, full schema
Turnover
€23.86M▲ 0.3%
2024 · €23.79M
2019: €17.52M
2020: €20.13M
2021: €18.18M
2022: €18.34M
2023: €20.98M
2024: €23.79M
2019 → 2025
EBIT margin
2.4%▲ 2.2pp
2024 · 0.2%
2019: -11.6%
2020: -2.2%
2021: -2.5%
2022: -1.7%
2023: 0.5%
2024: 0.2%
2019 → 2025
Net result
€636k▲ 172%
2024 · €234k
2019: €-1.84M
2020: €-293k
2021: €-355k
2022: €-257k
2023: €291k
2024: €234k
2019 → 2025
Working capital
€3.58M▲ 41.2%
2024 · €2.54M
2019: €618k
2020: €543k
2021: €970k
2022: €1.79M
2023: €2.16M
2024: €2.54M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€18.18M-€18.34M▲ 0.9%€20.98M▲ 14.4%€23.79M▲ 13.4%€23.86M▲ 0.3%
Equity€9.00M-€8.54M▼ 5.2%€8.64M▲ 1.2%€8.75M▲ 1.3%€9.52M▲ 8.8%
Operating result€-460k-€-316k▲ 31.4%€95k€43k▼ 54.9%€575k▲ 1,250%
Net result€-355k-€-257k▲ 27.6%€291k€234k▼ 19.4%€636k▲ 172%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 1,250% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €20.27M
Fixed assets
€6.97M▼ 2.3%
Current assets
€13.30M▲ 31.8%
Equity and liabilities €20.27M
Equity
€9.52M▲ 8.8%
Provisions
€4k▼ 27.2%
Debt
€10.75M▲ 26.9%
The debt ratio rises from 49.2% to 53.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.75M▲
2024 · €1.34M
Cash flow
€1.81M▲
2024 · €1.53M
Solvency
47.0%▼
2024 · 50.8%
Current ratio
1.37▲
2024 · 1.34
Quick ratio
0.97▲
2024 · 0.84
Debt / equity
1.13▲
2024 · 0.97
ROE
6.7%▲
2024 · 2.7%
ROA
3.1%▲
2024 · 1.4%
Interest coverage
17.24▲
2024 · 11.48
Debt
€10.75M▲
2024 · €8.47M
Debt ≤ 1 year
€9.72M▲
2024 · €7.55M
Debt > 1 year
€902k▲
2024 · €803k
Income taxes
€-291▼
2024 · €4k
Staff costs
€4.23M▼
2024 · €4.54M
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€17.22M€20.27M▲
Fixed assets21/28€7.13M€6.97M▼
Intangible fixed assets21€386k€352k▼
Tangible fixed assets22/27€6.75M€6.44M▼
Land and buildings22€5.04M€4.77M▼
Plant, machinery and equipment23€1.31M€1.15M▼
Furniture and vehicles24€108k€181k▲
Leasing and similar rights25€38k€23k▼
Other tangible fixed assets26€54k€50k▼
Assets under construction and advance payments27€198k€261k▲
Financial fixed assets28€250€175k▲
Affiliated companies280/1-€175k
Amounts receivable281-€175k
Other financial fixed assets284/8€250€250=
Amounts receivable and cash guarantees285/8€250€250=
Current assets29/58€10.09M€13.30M▲
Stocks and contracts in progress3€3.74M€3.85M▲
Stocks30/36€3.53M€3.52M▼
Raw materials and consumables30/31€2.94M€2.88M▼
Work in progress32€161k€177k▲
Finished goods33€434k€460k▲
Contracts in progress37€207k€327k▲
Amounts receivable within one year40/41€6.03M€7.79M▲
Trade receivables40€5.29M€6.38M▲
Other amounts receivable41€744k€1.41M▲
Current investments50/53-€1.30M
Other investments51/53-€1.30M
Cash at bank and in hand54/58€179k€259k▲
Deferred charges and accrued income490/1€141k€110k▼
Equity and liabilities
Total equity and liabilities10/49€17.22M€20.27M▲
Equity10/15€8.75M€9.52M▲
Contributions10/11€155k€155k=
Capital10€155k€155k=
Issued capital100€155k€155k=
Revaluation surpluses12€96k€96k=
Reserves13€8.15M€8.79M▲
Non-distributable reserves130/1€16k€16k=
Legal reserve130€16k€16k=
Tax-exempt reserves132€26k€21k▼
Distributable reserves133€8.11M€8.75M▲
Investment grants15€342k€476k▲
Provisions and deferred taxes16€6k€4k▼
Deferred taxes168€6k€4k▼
Amounts payable17/49€8.47M€10.75M▲
Amounts payable after more than one year17€803k€902k▲
Financial debts170/4€803k€902k▲
Subordinated loans170€750k€750k=
Leasing and similar obligations172€13k-
Credit institutions173€40k€152k▲
Amounts payable within one year42/48€7.55M€9.72M▲
Current portion of amounts payable after more than one year42€41k€124k▲
Financial debts43€330k-
Credit institutions430/8€330k-
Trade debts44€2.45M€4.58M▲
Suppliers440/4€2.45M€4.58M▲
Advances received on contracts in progress46€165k€60k▼
Taxes, remuneration and social security45€834k€1.03M▲
Taxes450/3€63k€241k▲
Remuneration and social security454/9€771k€793k▲
Other amounts payable47/48€3.73M€3.93M▲
Accrued charges and deferred income492/3€114k€125k▲
Income statement
Code20242025
Operating income70/76A€23.64M€24.51M▲
Turnover70€23.79M€23.86M▲
Change in stocks of work in progress, finished goods and contracts in progress71€-538k€162k▲
Other operating income74€382k€399k▲
Non-recurring operating income76A€2k€86k▲
Operating charges60/66A€23.59M€23.93M▲
Goods for resale, raw materials and consumables60€14.70M€15.09M▲
Purchases600/8€14.84M€15.07M▲
Change in stocks: decrease (increase)609€-146k€24k▲
Services and other goods61€2.97M€3.30M▲
Remuneration, social security and pensions62€4.54M€4.23M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.29M€1.18M▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€32k
Other operating charges640/8€93k€92k▼
Non-recurring operating charges66A-€3k
Operating profit (loss)9901€43k€575k▲
Financial income75/76B€349k€206k▼
Recurring financial income75€349k€206k▼
Income from current assets751€57k€23k▼
Other financial income752/9€292k€183k▼
Financial charges65/66B€156k€148k▼
Recurring financial charges65€156k€148k▼
Debt charges650€116k€102k▼
Other financial charges652/9€39k€46k▲
Profit (loss) for the period before taxes9903€236k€634k▲
Transfer from deferred taxes780€2k€2k▼
Income taxes67/77€4k€-291▼
Taxes670/3€4k-
Tax adjustments and reversals of tax provisions77-€291
Profit (loss) for the period9904€234k€636k▲
Transfer from tax-exempt reserves789€7k€5k▼
Profit (loss) for the period to be appropriated9905€241k€641k▲
Appropriation of the result
Profit (loss) to be appropriated9906€241k€641k▲
Transfer to equity691/2€241k€641k▲
To other reserves6921€241k€641k▲
Social balance
Average headcount (FTE)908767.264.9▼
The notes to these accounts (92 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
29-10
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
31-03
Financial
Highest result since 2019net €636k ▲172%
Operating result €575k, net result €636k, both a record.
2024
08-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2023
05-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
31-03
Financial
Back to profitnet €291k
Net result €291k after 4 loss-making years.
2022
29-11
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 29 days late
2021
05-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 5 days late
2020
21-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2019
23-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
31-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
12 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, Ingelmunster · 1 establishment unit since 1976
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.
Leon Bekaertstraat 88770 IngelmunsterGround area
1.7 ha
Building footprint
1.1 ha
Volume, LiDAR
56,600 m³
Parcel 36007B0277/00K002, Flanders · tallest building 7.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
HAELVOET
since 19762.012.100.989
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36007B0277/00K002 | Flanders | 1.7 ha | 1 · 1.1 ha | 7.7 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 · 20 entries · 592,164 EUR awarded · 246,196 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 7 | 60,807 EUR | 197,807 EUR |
| 2024 | 5 | 492,850 EUR | 9,909 EUR |
| 2023 | 4 | 19,370 EUR | 20,609 EUR |
| 2022 | 4 | 19,137 EUR | 17,871 EUR |
Schemes
Ontwikkelingsproject
Ecologiepremie+
Kmo-groeisubsidie: steun voor groeitrajecten bij kmo's (stopgezet)
Subsidies voor internationaal ondernemen
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Show 2 more
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Vlaams opleidingsverlof (VOV)
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EXTREMIS
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Of 457 companies in sector 31009 we hold annual accounts for 124. 11 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded13-02-1976
Fiscal year end31-03
Activities, NACEBEL
31001Manufacture of furniture
31009Manufacture of furniture
36111
36121
31004Manufacture of dining room, living room, bedroom and bathroom furniture
46494Wholesale of non-electrical household articles
51471
Sources
Crossroads Bank for EnterprisesNational Bank · 48 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.