HEFSPAN
ActiveHEFSPAN has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.01M and a net result of €158k. Equity is growing by ~10.9% per year across the filed fiscal years. Its solvency ranks better than 82% of 404 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
86
/ 100
Excellent▼ -7 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability39▼-50
Solvency100=
Growth52▼-26
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €170k at 30 days acceptable
Liquidity ample (current ratio 4.13 against 3.57 in 2024), and 22% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers 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
78%
Return on assets
6.1%
Age of the figures
8 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 20-07-2026, 11 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
11 d early
2024
25 d late
2023
20 d early
2022
25 d early
2021
38 d early
2020
23 d early
2019
2 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
13-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€2.01M▲ 8.5%
2024 · €1.85M
2018: €999k
2019: €1.16M
2020: €1.28M
2021: €1.21M
2022: €1.38M
2023: €1.76M
2024: €1.85M
2018 → 2025
Total assets
€2.58M▲ 6.2%
2024 · €2.43M
2018: €1.27M
2019: €1.69M
2020: €1.70M
2021: €1.87M
2022: €2.23M
2023: €2.37M
2024: €2.43M
2018 → 2025
Net result
€158k▼ 52.3%
2024 · €331k
2018: €176k
2019: €160k
2020: €119k
2021: €221k
2022: €361k
2023: €384k
2024: €331k
2018 → 2025
Working capital
€1.65M▲ 11.7%
2024 · €1.48M
2018: €976k
2019: €1.09M
2020: €1.18M
2021: €1.08M
2022: €1.22M
2023: €1.51M
2024: €1.48M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.21M-€1.38M▲ 13.9%€1.76M▲ 27.7%€1.85M▲ 5.4%€2.01M▲ 8.5%
Operating result€294k-€475k▲ 61.6%€503k▲ 6.0%€443k▼ 11.8%€204k▼ 54.0%
Net result€221k-€361k▲ 63.3%€384k▲ 6.3%€331k▼ 13.7%€158k▼ 52.3%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 54% below 2024 and is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.58M
Fixed assets
€402k▲ 7.0%
Current assets
€2.18M▲ 6.0%
Equity and liabilities €2.58M
Equity
€2.01M▲ 8.5%
Debt
€568k▼ 1.3%
The debt ratio falls from 23.7% to 22.0%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€307k▼
2024 · €502k
Cash flow
€261k▼
2024 · €390k
Solvency
78.0%▲
2024 · 76.3%
Current ratio
4.13▲
2024 · 3.57
Quick ratio
2.44▲
2024 · 2.19
Debt / equity
0.28▼
2024 · 0.31
ROE
7.8%▼
2024 · 17.9%
ROA
6.1%▼
2024 · 13.6%
Interest coverage
35.70▼
2024 · 41.75
Debt
€568k▼
2024 · €576k
Debt ≤ 1 year
€527k▼
2024 · €576k
Debt > 1 year
€41k
Income taxes
€51k▼
2024 · €112k
Staff costs
€73k▼
2024 · €74k
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€2.43M€2.58M▲
Fixed assets21/28€376k€402k▲
Tangible fixed assets22/27€376k€402k▲
Land and buildings22€0-
Plant, machinery and equipment23€138k€147k▲
Furniture and vehicles24€118k€95k▼
Leasing and similar rights25-€58k
Other tangible fixed assets26€120k€102k▼
Current assets29/58€2.05M€2.18M▲
Amounts receivable after more than one year29€141k€138k▼
Other amounts receivable291€141k€138k▼
Stocks and contracts in progress3€792k€891k▲
Stocks30/36€792k€891k▲
Amounts receivable within one year40/41€639k€649k▲
Trade receivables40€622k€614k▼
Other amounts receivable41€17k€34k▲
Current investments50/53€446k€467k▲
Cash at bank and in hand54/58€21k€20k▼
Deferred charges and accrued income490/1€16k€13k▼
Equity and liabilities
Total equity and liabilities10/49€2.43M€2.58M▲
Equity10/15€1.85M€2.01M▲
Contributions10/11€21k€21k=
Reserves13€1.83M€1.99M▲
Tax-exempt reserves132€38k€38k=
Distributable reserves133€1.80M€1.95M▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€576k€568k▼
Amounts payable after more than one year17-€41k
Financial debts170/4-€41k
Amounts payable within one year42/48€576k€527k▼
Current portion of amounts payable after more than one year42€0€17k▲
Financial debts43€69k€23k▼
Credit institutions430/8€69k€23k▼
Trade debts44€208k€208k▼
Suppliers440/4€208k€208k▼
Taxes, remuneration and social security45€39k€35k▼
Taxes450/3€35k€29k▼
Remuneration and social security454/9€4k€6k▲
Other amounts payable47/48€259k€244k▼
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Non-recurring operating income76A€64k€0▼
Remuneration, social security and pensions62€74k€73k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€59k€103k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€3k€1k▼
Other operating charges640/8€4k€4k▼
Non-recurring operating charges66A€1k€0▼
Gross operating margin9900€584k€385k▼
Operating profit (loss)9901€443k€204k▼
Financial income75/76B€11k€13k▲
Recurring financial income75€11k€13k▲
Financial charges65/66B€12k€9k▼
Recurring financial charges65€12k€9k▼
Profit (loss) for the period before taxes9903€443k€209k▼
Income taxes67/77€112k€51k▼
Profit (loss) for the period9904€331k€158k▼
Profit (loss) for the period to be appropriated9905€331k€158k▼
Appropriation of the result
Profit (loss) to be appropriated9906€331k€158k▼
Transfer from equity791/2€236k€0▼
Transfer to equity691/2€331k€158k▼
To other reserves6921€331k€158k▼
Profit to be distributed694/7€236k€0▼
Return on contributions (dividend)694€236k€0▼
Social balance
Average headcount (FTE)90871.51.6▲
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
20-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Equity above €2MEq €2.01M ▲8.5%
8 profitable years in a row build equity to €2.01M.
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 25 days late
2024
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €384k ▲6.3%
Operating result €503k, net result €384k, both a record.
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
23-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
08-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €119k ▼25.6%
Net result drops to €119k, the lowest in the series; recovery starts the following year.
29-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €1MEq €1.16M ▲16.1%
2 profitable years in a row build equity to €1.16M.
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
29-06
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.
Directors · office · real estate
Directors
3 directors, no change since 2024
Arnaud Bortier
CurrentDirector · since 01-07-2024
BV BTA Holding
CurrentDirector · since 01-07-2024 · Legal entity
01-07-2024
Arnaud Bortier: Appointed as Director
01-07-2024
BV BTA Holding: Appointed as Director
01-07-2024
Thibaut Bortier: Resigned as Director
Location & real-estate footprint
Registered office, Waregem · 1 establishment unit since 2018
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.
Mannebeekstraat 118790 WaregemGround area
2,320 m²
Building footprint
1,039 m²
Volume, LiDAR
6,770 m³
Parcel 34453F0795/00B000, Flanders · tallest building 7.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
HEFSPAN
since 20182.278.534.750
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34453F0795/00B000 | Flanders | 2,319 m² | 1 · 1,039 m² | 7.0 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.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 2 entries · 3,833 EUR awarded · 3,599 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 2,025 EUR | 2,025 EUR |
| 2022 | 1 | 1,808 EUR | 1,574 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
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COMET BELGIUM
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TECSIMA
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GESLIFT
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Herve · Eq €2.21M
Of 268 companies in sector 28220 we hold annual accounts for 231. 174 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded30-12-1997
Fiscal year end31-12
Activities, NACEBEL
28220Manufacture of machinery and equipment not elsewhere classified
46649Wholesale of other machinery and equipment
51872
13940Manufacture of textiles
68201Renting and operating of own or leased residential real estate, excluding social housing
Sources
Crossroads Bank for EnterprisesNational Bank · 28 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.