HEARTWARE
ActiveSummary
HEARTWARE has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €43k and a net result of €8k. Equity is growing by ~49.4% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability56▼-4
Solvency65▼-5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days acceptable
Liquidity ample (current ratio 1.66 against 1.81 in 2024; short-term debt: 60.2% and cash: 66.8% of total assets), but 60.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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
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
39.8%
Return on assets
7.6%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 16-09-2026, 47 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
47 d late
2024
43 d late
2023
61 d late
2022
22 d late
2021
5 d late
2020
19 d early
2019
9 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€43k▲ 23.4%
2024 · €35k
2018: €-58klowest in 8 years
2019: €-25k▲ +57.3% vs 2018
2020: €-15k▲ +39.1% vs 2019
2021: €-8k▲ +44.1% vs 2020
2022: €18k▲ +319% vs 2021
2023: €28k▲ +50.2% vs 2022
2024: €35k▲ +24.8% vs 2023
2025: €43k▲ +23.4% vs 2024highest in 8 years
2018 → 2025
Total assets
€107k▲ 38.3%
2024 · €78k
2018: €15k
2019: €7k▼ -52.5% vs 2018lowest in 8 years
2020: €14k▲ +85.1% vs 2019
2021: €18k▲ +36.0% vs 2020
2022: €48k▲ +161% vs 2021
2023: €69k▲ +44.0% vs 2022
2024: €78k▲ +11.7% vs 2023
2025: €107k▲ +38.3% vs 2024highest in 8 years
2018 → 2025
Net result
€8k▲ 17.8%
2024 · €7k
2018: €-4klowest in 8 years
2019: €33k▲ +885% vs 2018highest in 8 years
2020: €10k▼ -70.8% vs 2019
2021: €7k▼ -31.3% vs 2020
2022: €27k▲ +305% vs 2021
2023: €9k▼ -65.5% vs 2022
2024: €7k▼ -25.7% vs 2023
2025: €8k▲ +17.8% vs 2024
2018 → 2025
Working capital
€43k▲ 23.4%
2024 · €35k
2018: €-66klowest in 8 years
2019: €-30k▲ +55.1% vs 2018
2020: €-17k▲ +43.5% vs 2019
2021: €-9k▲ +46.3% vs 2020
2022: €18k▲ +305% vs 2021
2023: €28k▲ +50.2% vs 2022
2024: €35k▲ +24.8% vs 2023
2025: €43k▲ +23.4% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-8k-€18k€28k▲ 50.2%€35k▲ 24.8%€43k▲ 23.4%
2021: €-8klowest in 5 years
2022: €18k▲ +319% vs 2021
2023: €28k▲ +50.2% vs 2022
2024: €35k▲ +24.8% vs 2023
2025: €43k▲ +23.4% vs 2024highest in 5 years
Operating result€7k-€29k▲ 332%€12k▼ 59.4%€7k▼ 41.4%€9k▲ 24.2%
2021: €7klowest in 5 years
2022: €29k▲ +332% vs 2021highest in 5 years
2023: €12k▼ -59.4% vs 2022
2024: €7k▼ -41.4% vs 2023
2025: €9k▲ +24.2% vs 2024
Net result€7k-€27k▲ 305%€9k▼ 65.5%€7k▼ 25.7%€8k▲ 17.8%
2021: €7klowest in 5 years
2022: €27k▲ +305% vs 2021highest in 5 years
2023: €9k▼ -65.5% vs 2022
2024: €7k▼ -25.7% vs 2023
2025: €8k▲ +17.8% vs 2024
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 2025; 2025 is 24% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €107k
Equity
€43k ▲ 23.4%
Debt
€64k ▲ 50.2%
Debt's share of the balance-sheet total rises from 55.4% to 60.2%. Equity and debt are higher.
Key figures and ratios
Current ratio
1.66▼
2024 · 1.81
Debt to equity
1.51▲
2024 · 1.24
ROE
19.0%▼
2024 · 19.9%
ROA
7.6%▼
2024 · 8.9%
Debt ≤ 1 year
€64k▲
2024 · €43k
Income taxes
€447
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 32 lines
Balance sheet
Code20242025
Assets
Total assets20/58€78k€107k▲
Current assets29/58€78k€107k▲
Amounts receivable within one year40/41€29k€36k▲
Trade receivables40€5k€5k▲
Other amounts receivable41€24k€30k▲
Cash at bank and in hand54/58€48k€72k▲
Equity and liabilities
Total equity and liabilities10/49€78k€107k▲
Equity10/15€35k€43k▲
Contributions10/11€6k€6k=
Reserves13€2k€10k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133-€8k
Profit (loss) carried forward14€27k€27k=
Amounts payable17/49€43k€64k▲
Amounts payable within one year42/48€43k€64k▲
Trade debts44€34k€56k▲
Suppliers440/4€34k€56k▲
Other amounts payable47/48€9k€9k=
Income statement
Code20242025
Other operating charges640/8€387€565▲
Gross operating margin9900€7k€9k▲
Operating profit (loss)9901€7k€9k▲
Financial charges65/66B€30€30=
Recurring financial charges65€30€30=
Profit (loss) for the period before taxes9903€7k€9k▲
Income taxes67/77-€447
Profit (loss) for the period9904€7k€8k▲
Profit (loss) for the period to be appropriated9905€7k€8k▲
Appropriation of the result
Profit (loss) to be appropriated9906€27k€35k▲
Profit (loss) brought forward from the previous period14P€20k€27k▲
Transfer to equity691/2-€8k
To other reserves6921-€8k
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €4k | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1k | €562 | - | - | - | - |
| Other operating charges640/8 | €644 | €307 | €384 | €387 | €565 | ▲ 46.0% |
| Gross operating margin9900 | €8k | €30k | €12k | €7k | €9k | ▲ 25.3% |
| Operating profit (loss)9901 | €7k | €29k | €12k | €7k | €9k | ▲ 24.2% |
| Financial income75/76B | €26 | €1 | - | - | - | - |
| Recurring financial income75 | €26 | €1 | - | - | - | - |
| Financial charges65/66B | €115 | €-27 | €30 | €30 | €30 | = |
| Recurring financial charges65 | €115 | €-27 | €30 | €30 | €30 | = |
| Profit (loss) for the period before taxes9903 | €7k | €29k | €12k | €7k | €9k | ▲ 24.3% |
| Income taxes67/77 | - | €2k | €3k | - | €447 | - |
| Profit (loss) for the period9904 | €7k | €27k | €9k | €7k | €8k | ▲ 17.8% |
| Profit (loss) for the period to be appropriated9905 | €7k | €27k | €9k | €7k | €8k | ▲ 17.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €18k | €48k | €69k | €78k | €107k | ▲ 38.3% |
| Fixed assets21/28 | €562 | - | - | - | - | - |
| Intangible fixed assets21 | €562 | - | - | - | - | - |
| Current assets29/58 | €18k | €48k | €69k | €78k | €107k | ▲ 38.3% |
| Amounts receivable within one year40/41 | €12k | €8k | €36k | €29k | €36k | ▲ 22.4% |
| Trade receivables40 | €12k | €8k | €13k | €5k | €5k | ▲ 7.5% |
| Other amounts receivable41 | - | €391 | €24k | €24k | €30k | ▲ 25.4% |
| Cash at bank and in hand54/58 | €6k | €40k | €33k | €48k | €72k | ▲ 47.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €18k | €48k | €69k | €78k | €107k | ▲ 38.3% |
| Equity10/15 | €-8k | €18k | €28k | €35k | €43k | ▲ 23.4% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €10k | ▲ 436% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | - | - | - | €8k | - |
| Profit (loss) carried forward14 | €-16k | €10k | €20k | €27k | €27k | = |
| Amounts payable17/49 | €27k | €30k | €42k | €43k | €64k | ▲ 50.2% |
| Amounts payable within one year42/48 | €27k | €30k | €42k | €43k | €64k | ▲ 50.2% |
| Trade debts44 | €363 | €15k | €30k | €34k | €56k | ▲ 63.0% |
| Suppliers440/4 | €363 | €15k | €30k | €34k | €56k | ▲ 63.0% |
| Taxes, remuneration and social security45 | €57 | €2k | €2k | - | - | - |
| Taxes450/3 | €57 | €2k | €2k | - | - | - |
| Other amounts payable47/48 | €26k | €12k | €10k | €9k | €9k | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7k | €27k | €9k | €7k | €8k | ▲ 17.8% |
| + Depreciation and write-downs630 | €1k | €562 | - | - | - | - |
| Operating cash flow (approximation) | €8k | €27k | €9k | €7k | €8k | ▲ 17.8% |
| Change in cash | - | €34k | €-7k | €15k | €23k | ▲ 49.8% |
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
16-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 47 days late
2025
12-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 43 days late
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 22 days late
2022
31-12
Financial
Liquidity doublescurrent ratio 1.62
Current ratio from 0.67 to 1.62.
05-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 5 days late
2021
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €33k
Net result €33k after one loss-making year.
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 23 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Keerbergen · 1 establishment unit since 2006
Ground area
1,442 m²
Building footprint
248 m²
Volume, LiDAR
1,166 m³
Parcel 24048B0316/00V002, Flanders · tallest building 13.5 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
HEARTWARE
since 20062.157.487.559
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24048B0316/00V002 | Flanders | 1,442 m² | 1 · 248 m² | 13.5 m · 1 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.
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded27-10-2006
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.