Hedan
ActiveSummary
Hedan has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.13M and a net result of €-15k. Equity is growing by ~5.1% per year across the filed fiscal years. Its solvency ranks better than 25% of 8692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability31▼-69
Solvency49▲+1
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity tight (current ratio 1.05 against 1.02 in 2024; short-term debt: 62.8% and cash: 8.5% of total assets), and 75.8% 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○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 →
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
24.2%
Return on assets
-0.3%
Age of the figures
9 mo
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 18-05-2026, 74 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
74 d early
2024
28 d early
2023
76 d early
2022
70 d early
2021
61 d early
2020
65 d early
2019
72 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, abbreviated schema
Equity
€1.13M▼ 1.3%
2024 · €1.14M
2018: €706klowest in 8 years
2019: €749k▲ +6.1% vs 2018
2020: €789k▲ +5.4% vs 2019
2021: €805k▲ +2.0% vs 2020
2022: €847k▲ +5.2% vs 2021
2023: €881k▲ +4.0% vs 2022
2024: €1.14M▲ +29.7% vs 2023highest in 8 years
2025: €1.13M▼ -1.3% vs 2024
2018 → 2025
Total assets
€4.66M▼ 5.3%
2024 · €4.92M
2018: €3.61M
2019: €3.49M▼ -3.5% vs 2018
2020: €3.39M▼ -2.9% vs 2019
2021: €3.24M▼ -4.4% vs 2020
2022: €3.10M▼ -4.2% vs 2021
2023: €2.95M▼ -4.9% vs 2022lowest in 8 years
2024: €4.92M▲ +66.9% vs 2023highest in 8 years
2025: €4.66M▼ -5.3% vs 2024
2018 → 2025
Net result
€-15k
2024 · €3.26M
2018: €136k
2019: €143k▲ +4.7% vs 2018
2020: €40k▼ -71.7% vs 2019
2021: €136k▲ +236% vs 2020
2022: €182k▲ +33.9% vs 2021
2023: €134k▼ -26.4% vs 2022
2024: €3.26M▲ +2335% vs 2023highest in 8 years
2025: €-15k▼ -100% vs 2024lowest in 8 years
2018 → 2025
Working capital
€153k▲ 147%
2024 · €62k
2018: €-47klowest in 8 years
2019: €-27k▲ +43.4% vs 2018
2020: €27k▲ +203% vs 2019
2021: €-18k▼ -167% vs 2020
2022: €-39k▼ -112% vs 2021
2023: €-25k▲ +36.9% vs 2022
2024: €62k▲ +350% vs 2023
2025: €153k▲ +147% 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€805k-€847k▲ 5.2%€881k▲ 4.0%€1.14M▲ 29.7%€1.13M▼ 1.3%
2021: €805klowest in 5 years
2022: €847k▲ +5.2% vs 2021
2023: €881k▲ +4.0% vs 2022
2024: €1.14M▲ +29.7% vs 2023highest in 5 years
2025: €1.13M▼ -1.3% vs 2024
Operating result€187k-€239k▲ 27.6%€221k▼ 7.5%€3.39M▲ 1,432%€36k▼ 98.9%
2021: €187k
2022: €239k▲ +27.6% vs 2021
2023: €221k▼ -7.5% vs 2022
2024: €3.39M▲ +1432% vs 2023highest in 5 years
2025: €36k▼ -98.9% vs 2024lowest in 5 years
Net result€136k-€182k▲ 33.9%€134k▼ 26.4%€3.26M▲ 2,335%€-15k
2021: €136k
2022: €182k▲ +33.9% vs 2021
2023: €134k▼ -26.4% vs 2022
2024: €3.26M▲ +2335% vs 2023highest in 5 years
2025: €-15k▼ -100% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 99% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.66M
Fixed assets
€1.58M ▼ 7.1%
Current assets
€3.08M ▼ 4.4%
Equity and liabilities €4.66M
Equity
€1.13M ▼ 1.3%
Provisions
€2k ▼ 22.8%
Debt
€3.53M ▼ 6.6%
Debt's share of the balance-sheet total falls from 76.7% to 75.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€158k▼
2024 · €3.51M
Cash flow
€107k▼
2024 · €3.38M
Current ratio
1.05▲
2024 · 1.02
Debt to equity
3.13▼
2024 · 3.30
ROE
-1.3%▼
2024 · 285.3%
ROA
-0.3%▼
2024 · 66.3%
Interest coverage
1.55▼
2024 · 27.60
Debt ≤ 1 year
€2.92M▼
2024 · €3.16M
Debt > 1 year
€538k▼
2024 · €565k
Income taxes
€584▼
2024 · €70k
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 · 54 lines
Balance sheet
Code20242025
Assets
Total assets20/58€4.92M€4.66M▼
Fixed assets21/28€1.70M€1.58M▼
Tangible fixed assets22/27€1.70M€1.58M▼
Land and buildings22€1.70M€1.58M▼
Plant, machinery and equipment23€2k€796▼
Current assets29/58€3.22M€3.08M▼
Amounts receivable within one year40/41€28k€57k▲
Trade receivables40-€17k
Other amounts receivable41€28k€40k▲
Current investments50/53€2.91M€2.61M▼
Cash at bank and in hand54/58€275k€398k▲
Deferred charges and accrued income490/1€4k€7k▲
Equity and liabilities
Total equity and liabilities10/49€4.92M€4.66M▼
Equity10/15€1.14M€1.13M▼
Contributions10/11€19k€19k=
Reserves13€1.12M€1.11M▼
Tax-exempt reserves132€5k€4k▼
Distributable reserves133€1.12M€1.11M▼
Provisions and deferred taxes16€2k€2k▼
Deferred taxes168€2k€2k▼
Amounts payable17/49€3.78M€3.53M▼
Amounts payable after more than one year17€565k€538k▼
Financial debts170/4€316k€289k▼
Other amounts payable178/9€249k€249k=
Amounts payable within one year42/48€3.16M€2.92M▼
Current portion of amounts payable after more than one year42€26k€27k▲
Trade debts44€73k€15k▼
Suppliers440/4€73k€15k▼
Taxes, remuneration and social security45€2k€3k▲
Taxes450/3€2k€3k▲
Other amounts payable47/48€3.05M€2.88M▼
Accrued charges and deferred income492/3€56k€67k▲
Income statement
Code20242025
Non-recurring operating income76A€3.34M-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€122k€122k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€-239k-
Other operating charges640/8€39k€2k▼
Gross operating margin9900€3.31M€160k▼
Operating profit (loss)9901€3.39M€36k▼
Financial income75/76B€70k€51k▼
Recurring financial income75€70k€51k▼
Financial charges65/66B€127k€102k▼
Recurring financial charges65€127k€102k▼
Profit (loss) for the period before taxes9903€3.33M€-15k▼
Transfer from deferred taxes780€489€489=
Income taxes67/77€70k€584▼
Profit (loss) for the period9904€3.26M€-15k▼
Transfer from tax-exempt reserves789€1k€1k=
Profit (loss) for the period to be appropriated9905€3.26M€-14k▼
Appropriation of the result
Profit (loss) to be appropriated9906€3.26M€-14k▼
Transfer from equity791/2-€14k
Transfer to equity691/2€263k-
To other reserves6921€263k-
Profit to be distributed694/7€3.00M-
Return on contributions (dividend)694€3.00M-
The notes to these accounts (13 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 | - | - | - | €3.34M | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €135k | €122k | €122k | €122k | €122k | ▼ 0.7% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €-239k | - | - |
| Other operating charges640/8 | €2k | €2k | €2k | €39k | €2k | ▼ 95.2% |
| Gross operating margin9900 | €324k | €362k | €345k | €3.31M | €160k | ▼ 95.2% |
| Operating profit (loss)9901 | €187k | €239k | €221k | €3.39M | €36k | ▼ 98.9% |
| Financial income75/76B | €21 | - | €306 | €70k | €51k | ▼ 27.1% |
| Recurring financial income75 | €21 | - | €306 | €70k | €51k | ▼ 27.1% |
| Financial charges65/66B | €42k | €41k | €75k | €127k | €102k | ▼ 19.7% |
| Recurring financial charges65 | €42k | €41k | €75k | €127k | €102k | ▼ 19.7% |
| Profit (loss) for the period before taxes9903 | €145k | €198k | €146k | €3.33M | €-15k | ▼ 100% |
| Transfer from deferred taxes780 | €489 | €489 | €489 | €489 | €489 | = |
| Income taxes67/77 | €10k | €16k | €13k | €70k | €584 | ▼ 99.2% |
| Profit (loss) for the period9904 | €136k | €182k | €134k | €3.26M | €-15k | ▼ 100% |
| Transfer from tax-exempt reserves789 | €15k | €1k | €1k | €1k | €1k | = |
| Profit (loss) for the period to be appropriated9905 | €151k | €183k | €135k | €3.26M | €-14k | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.24M | €3.10M | €2.95M | €4.92M | €4.66M | ▼ 5.3% |
| Fixed assets21/28 | €2.94M | €2.82M | €2.70M | €1.70M | €1.58M | ▼ 7.1% |
| Tangible fixed assets22/27 | €2.07M | €1.95M | €1.83M | €1.70M | €1.58M | ▼ 7.1% |
| Land and buildings22 | €2.07M | €1.95M | €1.82M | €1.70M | €1.58M | ▼ 7.1% |
| Plant, machinery and equipment23 | - | - | €3k | €2k | €796 | ▼ 56.8% |
| Furniture and vehicles24 | €187 | - | - | - | - | - |
| Financial fixed assets28 | €877k | €877k | €877k | - | - | - |
| Current assets29/58 | €293k | €279k | €245k | €3.22M | €3.08M | ▼ 4.4% |
| Amounts receivable within one year40/41 | €106k | €78k | €111k | €28k | €57k | ▲ 100% |
| Trade receivables40 | €100k | €75k | €83k | - | €17k | - |
| Other amounts receivable41 | €6k | €3k | €29k | €28k | €40k | ▲ 42.1% |
| Current investments50/53 | - | - | - | €2.91M | €2.61M | ▼ 10.2% |
| Cash at bank and in hand54/58 | €185k | €193k | €120k | €275k | €398k | ▲ 44.8% |
| Deferred charges and accrued income490/1 | €2k | €7k | €14k | €4k | €7k | ▲ 78.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.24M | €3.10M | €2.95M | €4.92M | €4.66M | ▼ 5.3% |
| Equity10/15 | €805k | €847k | €881k | €1.14M | €1.13M | ▼ 1.3% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €787k | €829k | €863k | €1.12M | €1.11M | ▼ 1.3% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Tax-exempt reserves132 | €9k | €7k | €6k | €5k | €4k | ▼ 22.8% |
| Distributable reserves133 | €776k | €819k | €856k | €1.12M | €1.11M | ▼ 1.2% |
| Provisions and deferred taxes16 | €242k | €242k | €241k | €2k | €2k | ▼ 22.8% |
| Provisions for liabilities and charges160/5 | €239k | €239k | €239k | - | - | - |
| Pensions and similar obligations160 | €239k | €239k | €239k | - | - | - |
| Deferred taxes168 | €4k | €3k | €3k | €2k | €2k | ▼ 22.8% |
| Amounts payable17/49 | €2.19M | €2.01M | €1.83M | €3.78M | €3.53M | ▼ 6.6% |
| Amounts payable after more than one year17 | €1.87M | €1.68M | €1.55M | €565k | €538k | ▼ 4.8% |
| Financial debts170/4 | €1.59M | €1.43M | €1.30M | €316k | €289k | ▼ 8.5% |
| Other amounts payable178/9 | €279k | €250k | €249k | €249k | €249k | = |
| Amounts payable within one year42/48 | €311k | €318k | €270k | €3.16M | €2.92M | ▼ 7.4% |
| Current portion of amounts payable after more than one year42 | €159k | €157k | €146k | €26k | €27k | ▲ 4.6% |
| Trade debts44 | €32k | €19k | €20k | €73k | €15k | ▼ 79.7% |
| Suppliers440/4 | €32k | €19k | €20k | €73k | €15k | ▼ 79.7% |
| Taxes, remuneration and social security45 | €308 | €1k | €4k | €2k | €3k | ▲ 48.3% |
| Taxes450/3 | €308 | €1k | €4k | €2k | €3k | ▲ 48.3% |
| Other amounts payable47/48 | €120k | €140k | €100k | €3.05M | €2.88M | ▼ 5.8% |
| Accrued charges and deferred income492/3 | €7k | €9k | €7k | €56k | €67k | ▲ 20.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €136k | €182k | €134k | €3.26M | €-15k | ▼ 100% |
| + Depreciation and write-downs630 | €135k | €122k | €122k | €122k | €122k | ▼ 0.7% |
| Operating cash flow (approximation) | €271k | €304k | €256k | €3.38M | €107k | ▼ 96.8% |
| Investment in fixed assets (approximation) | - | €0 | €-3k | €877k | €0 | ▼ 100% |
| Change in cash | - | €8k | €-73k | €155k | €123k | ▼ 20.6% |
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
18-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €-15k
Net result drops to €-15k, the lowest in the series.
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €3.26M ▲2,335%
Operating result €3.39M, net result €3.26M, both a record.
31-12
Financial
Equity above €1MEq €1.14M ▲29.7%
7 profitable years in a row build equity to €1.14M.
16-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
22-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
27-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
20-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
28-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
06-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
13-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
8 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, Lier · 1 establishment unit since 1994
Ground area
1,391 m²
Building footprint
94 m²
Volume, LiDAR
779 m³
Parcel 12021H0523/00Z000, Flanders · tallest building 13.3 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Hedan
since 19942.065.531.658
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12021H0523/00Z000 | Flanders | 1,390 m² | 1 · 94 m² | 13.3 m · 3 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.
Recognitions · licences · registrations
Legal Entity Identifier
894500V930YLJQMUMJ54
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 26,499 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded23-12-1993
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.