HEMAX BE
ActiveSummary
HEMAX BE has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€206,830) and a net result of -€131,295. The figures fluctuate too strongly year-on-year for a reliable trend projection. The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
What they do
Business and other management consultancy
NACE 70200Business consulting NACE 70220
1 site
How big
€784,062total assets 2025
- Equity
- -€206,830
- Loss
- -€131,295
Turnover not published (abridged schema)
Who decides
- Holdings
- 1
Accounts 43 d early2 of 8 deeds read
Why 32- Annual accounts: weaker financial profile+ Lower-failure-rate sector+ Long track recordLatest accounts filed on timeShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-74
Solvency0▼-13
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.64 against 0.63 in 2024; short-term debt: 126.4% and cash: 5.3% of total assets), and equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-26.4%
Return on assets
-16.7%
Age of the figures
9 mo
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 31-12-2025 was due by 31-07-2026 and was filed on 18-06-2026, 43 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
43 d early
2024
29 d late
2023
15 d early
2022
13 d early
2021
23 d early
2020
19 d early
2019
18 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 15 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 17 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
- Capital & shares · Statutes amendmentAuditor report · Share issue…
- Annual accounts filedfiscal year 2025 · abbreviated…
- RestructuringMerger · Capital increase ·…
Financials
Fiscal year 2025Total assets €784,062Loss -€131,295Solvency -26.4%Liquidity 0.64
Total assets
€784,062▲ 27.3%
2018 - 2025
Net result
-€131,295
2018 - 2025
Equity
-€206,830▼ 174%
2018 - 2025
Solvency
-26.4%▼ 14.1pp
2018 - 2025
Financials · fiscal year 2025, abbreviated schema
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€83,321▼ 396%-€46,691▲ 44.0%€90,613€29,429▼ 67.5%-€109,799
Net result-€87,824below the sector's middle half▼ 327%-€50,266below the sector's middle half▲ 42.8%€88,762above the sector's middle half€24,181within the sector's middle half▼ 72.8%-€131,295
Equity-€138,211below the sector's middle half▼ 174%-€188,477below the sector's middle half▼ 36.4%-€99,716below the sector's middle half▲ 47.1%-€75,535below the sector's middle half▲ 24.2%-€206,830▼ 174%
Total assets€512,809within the sector's middle half▼ 12.0%€300,594below the sector's middle half▼ 41.4%€342,088within the sector's middle half▲ 13.8%€615,693within the sector's middle half▲ 80.0%€784,062▲ 27.3%
Debt€651,021▲ 2.8%€489,072▼ 24.9%€441,804▼ 9.7%€691,228▲ 56.5%€990,892▲ 43.4%
Working capital-€407,196below the sector's middle half▼ 23.9%-€417,734below the sector's middle half▼ 2.6%-€311,024below the sector's middle half▲ 25.5%-€251,020below the sector's middle half▲ 19.3%-€360,862▼ 43.8%
Solvency-27.0%below the sector's middle half▼ 18.3pp-62.7%below the sector's middle half▼ 35.7pp-29.1%below the sector's middle half▲ 33.6pp-12.3%below the sector's middle half▲ 16.9pp-26.4%▼ 14.1pp
Current ratio0.32below the sector's middle half▼ 0.090.10below the sector's middle half▼ 0.220.30below the sector's middle half▲ 0.190.63within the sector's middle half▲ 0.340.64=
Return on assets (ROA)-17.1%below the sector's middle half▼ 13.6pp-16.7%below the sector's middle half▲ 0.4pp25.9%within the sector's middle half▲ 42.7pp3.9%within the sector's middle half▼ 22.0pp-16.7%▼ 20.7pp
Staff (FTE)0within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €109,799 after €29,429 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €784,062
Fixed assets
€154,032 ▼ 14.6%
Current assets
€630,030 ▲ 44.7%
Equity and liabilities
Equity-€206,830
Debt€990,892
Equity is negative: debt (€990,892) exceeds the balance-sheet total (€784,062).
Key figures and ratios
Key figures and ratios
EBITDA
-€68,497▼
2024 · €72,276
Cash flow
-€89,994▼
2024 · €67,028
Interest coverage
-1.65▼
2024 · 11.99
Debt ≤ 1 year
€990,892▲
2024 · €686,364
Income taxes
€219▼
2024 · €238
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 598 companies that looked in July 2024 the way this one looks now, 9.4% went bankrupt within 24 months and 83% are still going.
- Small
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
9.4%
went bankrupt
6.0%
stopped otherwise
83%
still going
A further 1.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% 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 497,341 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% | 1.0% |
| 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% 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 598 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.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €0 | - | €8,467 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €70,389 | €64,724 | €39,363 | €42,847 | €41,301 | ▼ 3.6% |
| Other operating charges640/8 | €3,021 | €3,154 | €749 | €431 | €511 | ▲ 18.5% |
| Gross operating margin9900 | -€9,911 | €21,187 | €130,725 | €72,707 | -€67,986 | ▼ 194% |
| Operating profit (loss)9901 | -€83,321 | -€46,691 | €90,613 | €29,429 | -€109,799 | ▼ 473% |
| Financial income75/76B | €6 | €0 | - | €1,017 | €20,347 | ▲ 1,901% |
| Recurring financial income75 | €6 | €0 | - | €1,017 | €20,347 | ▲ 1,901% |
| Financial charges65/66B | €2,033 | €1,251 | €1,851 | €6,026 | €41,624 | ▲ 591% |
| Recurring financial charges65 | €2,033 | €1,251 | €1,851 | €6,026 | €41,624 | ▲ 591% |
| Profit (loss) for the period before taxes9903 | -€85,348 | -€47,942 | €88,762 | €24,419 | -€131,076 | ▼ 637% |
| Income taxes67/77 | €2,476 | €2,324 | €0 | €238 | €219 | ▼ 8.0% |
| Profit (loss) for the period9904 | -€87,824 | -€50,266 | €88,762 | €24,181 | -€131,295 | ▼ 643% |
| Profit (loss) for the period to be appropriated9905 | -€87,824 | -€50,266 | €88,762 | €24,181 | -€131,295 | ▼ 643% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €512,809 | €300,594 | €342,088 | €615,693 | €784,062 | ▲ 27.3% |
| Fixed assets21/28 | €316,933 | €252,209 | €211,308 | €180,349 | €154,032 | ▼ 14.6% |
| Tangible fixed assets22/27 | €294,433 | €229,709 | €188,808 | €157,849 | €131,532 | ▼ 16.7% |
| Plant, machinery and equipment23 | €19,113 | €8,268 | €2,712 | €870 | €0 | ▼ 100% |
| Furniture and vehicles24 | €115,857 | €84,445 | €70,702 | €63,186 | €59,342 | ▼ 6.1% |
| Other tangible fixed assets26 | €159,464 | €136,996 | €115,394 | €93,792 | €72,190 | ▼ 23.0% |
| Financial fixed assets28 | €22,500 | €22,500 | €22,500 | €22,500 | €22,500 | = |
| Current assets29/58 | €195,876 | €48,385 | €130,780 | €435,344 | €630,030 | ▲ 44.7% |
| Amounts receivable within one year40/41 | €122,190 | €23,894 | €120,888 | €433,357 | €583,767 | ▲ 34.7% |
| Trade receivables40 | €121,306 | €22,968 | €116,119 | €14,514 | €24,836 | ▲ 71.1% |
| Other amounts receivable41 | €884 | €925 | €4,769 | €418,843 | €558,931 | ▲ 33.4% |
| Cash at bank and in hand54/58 | €71,766 | €18,654 | €8,419 | €358 | €41,902 | ▲ 11,619% |
| Deferred charges and accrued income490/1 | €1,919 | €5,837 | €1,474 | €1,629 | €4,361 | ▲ 168% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €512,809 | €300,594 | €342,088 | €615,693 | €784,062 | ▲ 27.3% |
| Equity10/15 | -€138,211 | -€188,477 | -€99,716 | -€75,535 | -€206,830 | ▼ 174% |
| Contributions10/11 | €6,500 | €6,500 | €6,500 | €6,500 | €6,500 | = |
| Reserves13 | €25,496 | €25,496 | €25,496 | €25,496 | €25,496 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | €23,636 | €23,636 | €25,496 | €25,496 | €25,496 | = |
| Profit (loss) carried forward14 | -€170,208 | -€220,474 | -€131,712 | -€107,531 | -€238,826 | ▼ 122% |
| Amounts payable17/49 | €651,021 | €489,072 | €441,804 | €691,228 | €990,892 | ▲ 43.4% |
| Amounts payable after more than one year17 | €47,949 | €22,953 | €0 | - | - | - |
| Financial debts170/4 | €47,949 | €22,953 | €0 | - | - | - |
| Amounts payable within one year42/48 | €603,072 | €466,119 | €441,804 | €686,364 | €990,892 | ▲ 44.4% |
| Current portion of amounts payable after more than one year42 | €24,996 | €24,996 | €22,953 | €0 | - | - |
| Financial debts43 | - | - | - | €500,000 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €500,000 | €0 | ▼ 100% |
| Trade debts44 | €2,306 | €10,679 | €2,720 | €9,668 | €45,763 | ▲ 373% |
| Suppliers440/4 | €2,306 | €10,679 | €2,720 | €9,668 | €45,763 | ▲ 373% |
| Advances received on contracts in progress46 | - | - | - | €13,830 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €9,623 | €8,876 | €7,173 | €14,712 | €5,306 | ▼ 63.9% |
| Taxes450/3 | €6,323 | €5,576 | €3,873 | €11,412 | €2,006 | ▼ 82.4% |
| Remuneration and social security454/9 | €3,300 | €3,300 | €3,300 | €3,300 | €3,300 | = |
| Other amounts payable47/48 | €566,146 | €421,567 | €408,959 | €148,154 | €939,823 | ▲ 534% |
| Accrued charges and deferred income492/3 | - | - | - | €4,863 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€87,824 | -€50,266 | €88,762 | €24,181 | -€131,295 | ▼ 643% |
| + Depreciation and write-downs630 | €70,389 | €64,724 | €39,363 | €42,847 | €41,301 | ▼ 3.6% |
| Operating cash flow (approximation) | -€17,435 | €14,458 | €128,125 | €67,028 | -€89,994 | ▼ 234% |
| Investment in fixed assets (approximation) | - | €0 | €1,538 | -€11,888 | -€14,985 | ▼ 26.1% |
| Change in cash | - | -€53,112 | -€10,236 | -€8,061 | €41,544 | ▲ 615% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector and region
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BE 0476.155.182
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AMAC
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 82,601 companies in this sector we hold annual accounts for 52,629. See the whole sector
Board & ownership
1 holding1 merger or contribution
Directors
Directors
No directors read yet: 2 of 8 Gazette acts processed. See the function holders in the CBE →
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 1
-
15%
According to the 2024 annual accounts of HEMAX BE and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No directors read yet: 2 of 8 Gazette acts processed.
Acquisitions and mergers
1 transactionTook over:V-PARK
Capital and shareholders
Shareholders according to the acts
After the capital increase
act of 10-06-2026 ↗
- V-PARK (BE 0678.746.909)
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
Capital over the years
- 10-07-2026 Capital stated in the act · 736,712 shares
- 10-06-2026 Capital increase · 693,916 new shares · “bijkomende inbreng van het volledige vermogen van de besloten vennootschap V-PARK”
- 10-06-2026 Capital reduction of €12,100 · “vrijstelling van volstortingsplicht”
Timeline
14 eventsLatest 10-07-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
10-07
State Gazette act
Capital & shares · Statutes amendmentAuditor report · Share issue · Capital contribution14 facts ▸
State Gazette act
Capital & shares · Statutes amendment
Auditor report · Share issue · Capital contribution14 facts ▸
- General meeting, 26-06-2026
- Other statement, 25-06-2026
- Auditor report, geen bevindingen van materieel belang, EUR
- Other statement, geen fairness opinion
- Other statement, beperking gebruik verslag, 26-06-2026
- Other statement, ontvangst verslagen door aandeelhouders, kopie ontvangen en kennis genomen
- Share issue, zelfde rechten en voordelen als bestaande aandelen, EUR
- Capital contribution
- Other statement, boeking bijkomende inbreng, niet op onbeschikbare eigenvermogensrekening
- Share issue, vergoeding voormelde inbreng, gemeen akkoord met inbrengers
- Capital
- Statutes amendment, 5
- +2 further facts in this act
18-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
10-06
State Gazette act
RestructuringMerger · Capital increase · Share issue10 facts ▸
State Gazette act
Restructuring
Merger · Capital increase · Share issue10 facts ▸
- General meeting, 21-05-2026
- Merger, fusie door overneming, algemene vergadering van de Overgenomen Vennootschap tot eenzelfde besluit komt
- Capital increase
- Share issue, 693916, 231,31 aandelen in de overnemende vennootschap voor 1 aandeel in de overgenomen vennootschap
- Capital
- Statutes amendment, 5
- Capital
- Capital decrease, €12.100
- Power of attorney
- Power of attorney, Liselotte De Kock
2025
31-12
Financial
Weakest financial yearnet -€131,295
Net result drops to -€131,295, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €88,762
Net result €88,762 after 4 loss-making years.
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
05-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 8 acts read
About the unread acts
Of the 8 Belgian State Gazette acts we know for this company, 2 have been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
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Company details
Private limited company · founded 07-06-2010Year ends 31-12Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded07-06-2010
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
64210Activities of holding companies
70100Activities of head offices
E-invoicing
Reachable via Peppol
Peppol ID
0208:0826443166
Also
9925:BE0826443166
Registered
15-05-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Articles of association
Capital, shares and profit
- Profit allocationHow profit is distributed; a BV may only pay out after a balance-sheet and liquidity test.
- 24, herinvesteringsreserve
Other provisionsOther rules from the articles that fall under none of the themes above.
Sites & property
Location & real-estate footprint
Registered office, Koksijde · 1 establishment unit since 2012
Ground area
2,144 m²
Building footprint
80 m²
Volume, LiDAR
338 m³
Parcel 38342H0360/00F000, Flanders · tallest building 9.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
HEMAX BE
since 2012unit no. 2.213.974.322
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38342H0360/00F000 | Flanders | 2,144 m² | 1 · 80 m² | 9.8 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.
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