Heeren Investments
ActiveHeeren Investments has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €527k and a net result of €209k. Equity is shrinking by ~9% per year across the filed fiscal years. Its solvency ranks better than 26% of 4501 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
69
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability75▲+18
Solvency39▲+6
Growth58=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity short (current ratio 0.32 against 0.17 in 2024; short-term debt: 8.3% and cash: 1.6% of total assets), and 86.4% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← 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
13.6%
Return on assets
5.4%
Age of the figures
9 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
1819202122232425
2018 to 2025 · latest year €527k
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
26 d late
2024
27 d early
2023
33 d early
2022
on the day
2021
31 d late
2020
31 d late
2019
101 d late
← before the deadline
after the deadline →
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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€209k▲ 144%
2024 · €86k
2018: €7k
2019: €26k
2020: €35k
2021: €92k
2022: €111k
2023: €106k
2024: €86k
2018 → 2025
Working capital
€-219k▲ 42.6%
2024 · €-381k
2018: €-1.22M
2019: €-1.18M
2020: €356k
2021: €411k
2022: €70k
2023: €-488k
2024: €-381k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€990k-€727k▼ 26.6%€232k▼ 68.0%€318k▲ 36.9%€527k▲ 65.7%
Operating result€188k-€211k▲ 12.1%€210k▼ 0.6%€215k▲ 2.5%€367k▲ 70.7%
Net result€92k-€111k▲ 20.7%€106k▼ 5.3%€86k▼ 18.8%€209k▲ 144%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 71% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.87M
Fixed assets
€3.77M▼ 5.3%
Current assets
€104k▲ 37.9%
Equity and liabilities €3.87M
Equity
€527k▲ 65.7%
Debt
€3.35M▼ 10.5%
The debt ratio falls from 92.2% to 86.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€580k▲
2024 · €424k
Cash flow
€422k▲
2024 · €295k
Solvency
13.6%▲
2024 · 7.8%
Current ratio
0.32▲
2024 · 0.17
Quick ratio
0.32▲
2024 · 0.17
Debt / equity
6.35▼
2024 · 11.75
ROE
39.7%▲
2024 · 26.9%
ROA
5.4%▲
2024 · 2.1%
Interest coverage
6.74▲
2024 · 4.23
Debt
€3.35M▼
2024 · €3.74M
Debt ≤ 1 year
€323k▼
2024 · €456k
Debt > 1 year
€3.01M▼
2024 · €3.27M
Income taxes
€73k▲
2024 · €29k
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€4.06M€3.87M▼
Fixed assets21/28€3.98M€3.77M▼
Tangible fixed assets22/27€3.98M€3.77M▼
Land and buildings22€3.98M€3.77M▼
Other tangible fixed assets26€1€1=
Current assets29/58€75k€104k▲
Amounts receivable within one year40/41€28k€41k▲
Trade receivables40€26k€7k▼
Other amounts receivable41€1k€34k▲
Cash at bank and in hand54/58€48k€63k▲
Equity and liabilities
Total equity and liabilities10/49€4.06M€3.87M▼
Equity10/15€318k€527k▲
Contributions10/11€100k€100k=
Capital10€100k€100k=
Issued capital100€100k€100k=
Reserves13€218k€427k▲
Non-distributable reserves130/1€25k€25k=
Legal reserve130€25k€25k=
Distributable reserves133€193k€402k▲
Amounts payable17/49€3.74M€3.35M▼
Amounts payable after more than one year17€3.27M€3.01M▼
Financial debts170/4€3.26M€3.00M▼
Other amounts payable178/9€15k€15k=
Amounts payable within one year42/48€456k€323k▼
Current portion of amounts payable after more than one year42€256k€258k▲
Trade debts44€67k€7k▼
Suppliers440/4€67k€7k▼
Advances received on contracts in progress46€10k€0▼
Taxes, remuneration and social security45€15k€58k▲
Taxes450/3€15k€58k▲
Other amounts payable47/48€107k€0▼
Accrued charges and deferred income492/3€13k€11k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€209k€213k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€25k€0▼
Other operating charges640/8€44k€55k▲
Gross operating margin9900€494k€634k▲
Operating profit (loss)9901€215k€367k▲
Financial income75/76B€0€961▲
Recurring financial income75€0€961▲
Financial charges65/66B€100k€86k▼
Recurring financial charges65€100k€86k▼
Profit (loss) for the period before taxes9903€115k€282k▲
Income taxes67/77€29k€73k▲
Profit (loss) for the period9904€86k€209k▲
Profit (loss) for the period to be appropriated9905€86k€209k▲
Appropriation of the result
Profit (loss) to be appropriated9906€86k€209k▲
Transfer to equity691/2€86k€209k▲
To other reserves6921€86k€209k▲
The notes to these accounts (20 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
2026
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 26 days late
2025
31-12
Financial
Highest result since 2018net €209k ▲144%
Operating result €367k, net result €209k, both a record.
31-12
Financial
Equity above €500kEq €527k ▲65.7%
8 profitable years in a row build equity to €527k.
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-12
Financial
Liquidity quadruplescurrent ratio 1.51
Current ratio from 0.34 to 1.51; short-term debt falls from €1.77M to €694k.
09-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 101 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2017
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.
20-12-2019
Heeren Peter: Resigned as Permanent representative
02-06-2017
CASTLE DRIVE: Resigned as Director
02-06-2017
CASTLE DRIVE: Resigned as Managing director
01-01-2016
JFH INVESTMENT: Resigned as Director
01-01-2016
JFH INVESTMENT: Resigned as Managing director
Location & real-estate footprint
Registered office, Turnhout · 1 establishment unit since 1983
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.
Turnovatoren 162300 TurnhoutGround area
6,615 m²
Building footprint
4,734 m²
Volume, LiDAR
11,195 m³
Parcel 13454R0624/00A002, Flanders · tallest building 18.4 m. Linked by address, not a title deed.
1 establishment unit
Heeren Investments
since 19832.022.673.791
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13454R0624/00A002 | Flanders | 6,615 m² | 1 · 4,734 m² | 18.4 m |
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.
Structure & network
Connections & network
8 connected companiesNetwork connections
Shared address
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Show 4 more network connections
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Shared address
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Of 12,014 companies in sector 68203 we hold annual accounts for 5,981. 4,404 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded04-07-1983
Fiscal year end31-12
Activities, NACEBEL
68203Renting and operating of own or leased non-residential real estate, excluding land
81100Combined facilities support activities
Sources
Crossroads Bank for EnterprisesNational Bank · 42 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:rita@heerengroup.com
Phone:+3214400660