HEFAH
ActiveHEFAH has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €253k and a net result of €-42k. Equity is growing by ~6.1% per year across the filed fiscal years. Its solvency ranks better than 51% of 3663 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
43
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability12▼-73
Solvency56▼-42
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days only on tighter terms
Liquidity short (current ratio 0.39 against 0.9 in 2024; short-term debt: 57.6% and cash: 11.6% of total assets), and 69% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Sector 56
higher
← 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
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 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
30 d early
2023
82 d early
2022
81 d early
2021
48 d early
2020
80 d early
2019
93 d early
← 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
20-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-42k
2024 · €52k
2018: €50k
2019: €8k
2020: €69k
2021: €104k
2022: €26k
2023: €27k
2024: €52k
2018 → 2025
Working capital
€-287k▼ 2,728%
2024 · €-10k
2018: €117k
2019: €143k
2020: €183k
2021: €308k
2022: €336k
2023: €-39k
2024: €-10k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€339k-€365k▲ 7.7%€243k▼ 33.3%€295k▲ 21.3%€253k▼ 14.2%
Operating result€147k-€38k▼ 74.3%€32k▼ 15.9%€80k▲ 152%€-22k
Net result€104k-€26k▼ 74.9%€27k▲ 2.3%€52k▲ 93.3%€-42k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €22k after €80k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €816k
Fixed assets
€633k▲ 106%
Current assets
€183k▲ 91.4%
Equity and liabilities €816k
Equity
€253k▼ 14.2%
Debt
€563k▲ 420%
The debt ratio rises from 26.8% to 69.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-10k▼
2024 · €91k
Cash flow
€-30k▼
2024 · €62k
Solvency
31.0%▼
2024 · 73.2%
Current ratio
0.39▼
2024 · 0.90
Quick ratio
0.39▼
2024 · 0.81
Debt / equity
2.22▲
2024 · 0.37
ROE
-16.6%▼
2024 · 17.5%
ROA
-5.1%▼
2024 · 12.8%
Interest coverage
-0.53▼
2024 · 16.32
Debt
€563k▲
2024 · €108k
Debt ≤ 1 year
€470k▲
2024 · €106k
Debt > 1 year
€93k▲
2024 · €2k
Income taxes
€277▼
2024 · €24k
Staff costs
€239k▼
2024 · €283k
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€403k€816k▲
Fixed assets21/28€308k€633k▲
Tangible fixed assets22/27€32k€33k▲
Land and buildings22€10k€17k▲
Plant, machinery and equipment23€5k€3k▼
Furniture and vehicles24€17k€13k▼
Financial fixed assets28€276k€600k▲
Current assets29/58€96k€183k▲
Stocks and contracts in progress3€10k€0▼
Stocks30/36€10k€0▼
Amounts receivable within one year40/41€6k€86k▲
Trade receivables40€1k€62k▲
Other amounts receivable41€4k€24k▲
Current investments50/53€0-
Cash at bank and in hand54/58€78k€95k▲
Deferred charges and accrued income490/1€1k€2k▲
Equity and liabilities
Total equity and liabilities10/49€403k€816k▲
Equity10/15€295k€253k▼
Contributions10/11€20k€20k=
Reserves13€275k€275k=
Distributable reserves133€275k€275k=
Profit (loss) carried forward14€0€-42k▼
Amounts payable17/49€108k€563k▲
Amounts payable after more than one year17€2k€93k▲
Financial debts170/4€2k€93k▲
Amounts payable within one year42/48€106k€470k▲
Current portion of amounts payable after more than one year42€4k€17k▲
Trade debts44€15k€3k▼
Suppliers440/4€15k€3k▼
Taxes, remuneration and social security45€24k€21k▼
Taxes450/3€8k€15k▲
Remuneration and social security454/9€15k€6k▼
Other amounts payable47/48€63k€429k▲
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Remuneration, social security and pensions62€283k€239k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€12k▲
Other operating charges640/8€1k€4k▲
Gross operating margin9900€375k€233k▼
Operating profit (loss)9901€80k€-22k▼
Financial income75/76B€2k€79▼
Recurring financial income75€2k€79▼
Financial charges65/66B€6k€19k▲
Recurring financial charges65€6k€19k▲
Profit (loss) for the period before taxes9903€76k€-42k▼
Income taxes67/77€24k€277▼
Profit (loss) for the period9904€52k€-42k▼
Profit (loss) for the period to be appropriated9905€52k€-42k▼
Appropriation of the result
Profit (loss) to be appropriated9906€52k€-42k▼
Profit (loss) brought forward from the previous period14P€0-
Transfer to equity691/2€52k€0▼
To other reserves6921€52k€0▼
Profit to be distributed694/7€0-
Return on contributions (dividend)694€0-
Social balance
Average headcount (FTE)90877.06.9▼
The notes to these accounts (18 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
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €-42k ▼181%
Net result drops to €-42k, the lowest in the series.
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
10-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
11-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
13-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €104k ▲50.9%
Operating result €147k, net result €104k, both a record.
31-12
Financial
Equity above €200kEq €339k ▲72.4%
4 profitable years in a row build equity to €339k.
12-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
29-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
12-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
22-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
18-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 18 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 2023
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.
11-04-2023
Resigned as Director
Location & real-estate footprint
Registered office, Crisnée · 1 establishment unit since 2002
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.
Grand'Route 63/64367 CrisnéeGround area
1,309 m²
Building footprint
529 m²
Volume, LiDAR
3,225 m³
Parcel 64413A0732/00S000, Wallonia · tallest building 7.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
PIZZERIA ETNA
since 20022.115.619.389
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 64413A0732/00S000 | Wallonia | 1,309 m² | 1 · 529 m² | 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.
Similar companies · same sector, comparable size
DESTHIN
BE 0899.866.723
Liège · Eq €253k
XING LONG
BE 0452.619.321
Roeselare · Eq €253k
MULTATULI
BE 0781.579.280
Gent · Eq €253k
HASS-VERLINDEN & Co
BE 0890.582.041
Retie · Eq €253k
Arthur.A.S.
BE 0730.753.260
Tienen · Eq €253k
Of 20,495 companies in sector 56111 we hold annual accounts for 11,455. 8,052 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded01-10-2002
Fiscal year end31-12
Activities, NACEBEL
55302
56101Full-service restaurants
56102Limited-service restaurants
56111Full-service restaurants
56112Limited-service restaurants, excluding mobile food services
Sources
Crossroads Bank for EnterprisesNational Bank · 23 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.