HEINEN
ActiveSummary
HEINEN has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €368,686 and a net result of -€31,002. Equity is growing by ~17.5% per year across the filed fiscal years. Its solvency ranks better than 70% of 8190 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability12▼-34
Solvency89▲+10
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €21,000 at 30 days acceptable
Liquidity ample (current ratio 2.41 against 1.94 in 2024; short-term debt: 33.9% and cash: 13.7% of total assets), and 36.2% of the assets are financed with debt.
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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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-09-2026, 55 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
55 d late
2024
27 d early
2023
49 d late
2022
29 d late
2021
46 d late
2020
23 d late
2019
61 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 34 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
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. Usually files around 15 September (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€31,002
2024 · €20,424
Working capital
€276,224▼ 4.5%
2024 · €289,284
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€129,979▲ 12.6%€74,659▼ 42.6%€137,982▲ 84.8%€55,863▼ 59.5%-€58,513
Net result€78,526within the sector's middle half▲ 17.1%€30,943within the sector's middle half▼ 60.6%€79,213within the sector's middle half▲ 156%€20,424within the sector's middle half▼ 74.2%-€31,002below the sector's middle half
Equity€269,109within the sector's middle half▲ 41.2%€300,052within the sector's middle half▲ 11.5%€379,265within the sector's middle half▲ 26.4%€399,689within the sector's middle half▲ 5.4%€368,686within the sector's middle half▼ 7.8%
Total assets€716,980below the sector's middle half▲ 26.5%€645,738below the sector's middle half▼ 9.9%€684,923below the sector's middle half▲ 6.1%€737,831below the sector's middle half▲ 7.7%€577,611within the sector's middle half▼ 21.7%
Debt€447,871▲ 19.1%€345,686▼ 22.8%€305,658▼ 11.6%€338,143▲ 10.6%€208,925▼ 38.2%
Working capital€138,733within the sector's middle half▼ 1.9%€190,153within the sector's middle half▲ 37.1%€262,251within the sector's middle half▲ 37.9%€289,284within the sector's middle half▲ 10.3%€276,224within the sector's middle half▼ 4.5%
Solvency37.5%within the sector's middle half▲ 3.9pp46.5%within the sector's middle half▲ 8.9pp55.4%within the sector's middle half▲ 8.9pp54.2%within the sector's middle half▼ 1.2pp63.8%within the sector's middle half▲ 9.7pp
Current ratio1.37within the sector's middle half▼ 0.161.61within the sector's middle half▲ 0.241.86within the sector's middle half▲ 0.251.94within the sector's middle half▲ 0.082.41within the sector's middle half▲ 0.47
Return on assets (ROA)11.0%within the sector's middle half▼ 0.9pp4.8%within the sector's middle half▼ 6.2pp11.6%above the sector's middle half▲ 6.8pp2.8%within the sector's middle half▼ 8.8pp-5.4%below the sector's middle half▼ 8.1pp
Staff (FTE)9.6within the sector's middle half▲ 2.1%11.2within the sector's middle half▲ 16.7%8.1within the sector's middle half▼ 27.7%7.9within the sector's middle half▼ 2.5%7.2above the sector's middle half▼ 8.9%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €58,513 after €55,863 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €577,611
Fixed assets
€105,745 ▼ 25.0%
Current assets
€471,866 ▼ 20.9%
Equity and liabilities €577,611
Equity
€368,686 ▼ 7.8%
Debt
€208,925 ▼ 38.2%
Debt's share of the balance-sheet total falls from 45.8% to 36.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€23,308▼
2024 · €83,354
Cash flow
€4,202▼
2024 · €47,915
Quick ratio
2.24▲
2024 · 1.85
Debt to equity
0.57▼
2024 · 0.85
ROE
-8.4%▼
2024 · 5.1%
Interest coverage
-2.28▼
2024 · 2.89
Debt ≤ 1 year
€195,642▼
2024 · €307,597
Debt > 1 year
€13,282▼
2024 · €30,545
Income taxes
€187▼
2024 · €8,742
Staff costs
€307,954▼
2024 · €326,726
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 12,321 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €5,000 | - | - | €3,000 | - | - |
| Remuneration, social security and pensions62 | €225,994 | €283,613 | €305,509 | €326,726 | €307,954 | ▼ 5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €56,124 | €57,862 | €27,858 | €27,491 | €35,205 | ▲ 28.1% |
| Other operating charges640/8 | €14,260 | €11,370 | €12,032 | €13,301 | €13,682 | ▲ 2.9% |
| Gross operating margin9900 | €426,357 | €427,504 | €483,381 | €423,381 | €298,328 | ▼ 29.5% |
| Operating profit (loss)9901 | €129,979 | €74,659 | €137,982 | €55,863 | -€58,513 | ▼ 205% |
| Financial income75/76B | €1,005 | €701 | €2,007 | €2,167 | €37,913 | ▲ 1,650% |
| Recurring financial income75 | €1,005 | €701 | €2,007 | €2,167 | €37,913 | ▲ 1,650% |
| Financial charges65/66B | €28,802 | €28,797 | €29,733 | €28,864 | €10,215 | ▼ 64.6% |
| Recurring financial charges65 | €28,802 | €28,797 | €29,733 | €28,864 | €10,215 | ▼ 64.6% |
| Profit (loss) for the period before taxes9903 | €102,182 | €46,562 | €110,257 | €29,166 | -€30,816 | ▼ 206% |
| Income taxes67/77 | €23,656 | €15,619 | €31,044 | €8,742 | €187 | ▼ 97.9% |
| Profit (loss) for the period9904 | €78,526 | €30,943 | €79,213 | €20,424 | -€31,002 | ▼ 252% |
| Profit (loss) for the period to be appropriated9905 | €78,526 | €30,943 | €79,213 | €20,424 | -€31,002 | ▼ 252% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €716,980 | €645,738 | €684,923 | €737,831 | €577,611 | ▼ 21.7% |
| Fixed assets21/28 | €203,734 | €144,872 | €117,014 | €140,950 | €105,745 | ▼ 25.0% |
| Tangible fixed assets22/27 | €201,812 | €142,950 | €115,092 | €139,028 | €103,823 | ▼ 25.3% |
| Land and buildings22 | €116,338 | €97,081 | €83,111 | €69,451 | €55,792 | ▼ 19.7% |
| Plant, machinery and equipment23 | €26,722 | €21,161 | €17,261 | €13,361 | €9,461 | ▼ 29.2% |
| Furniture and vehicles24 | €2,312 | €1,156 | - | €7,360 | - | - |
| Leasing and similar rights25 | €56,440 | €23,552 | €14,720 | €48,855 | €38,570 | ▼ 21.1% |
| Financial fixed assets28 | €1,922 | €1,922 | €1,922 | €1,922 | €1,922 | = |
| Current assets29/58 | €513,246 | €500,867 | €567,909 | €596,882 | €471,866 | ▼ 20.9% |
| Stocks and contracts in progress3 | €37,589 | €44,980 | €41,460 | €27,648 | €34,068 | ▲ 23.2% |
| Stocks30/36 | €37,589 | €44,980 | €41,460 | €27,648 | €34,068 | ▲ 23.2% |
| Amounts receivable within one year40/41 | €128,675 | €180,057 | €179,213 | €176,232 | €137,021 | ▼ 22.2% |
| Trade receivables40 | €112,500 | €159,264 | €161,793 | €144,802 | €129,878 | ▼ 10.3% |
| Other amounts receivable41 | €16,174 | €20,793 | €17,420 | €31,430 | €7,142 | ▼ 77.3% |
| Current investments50/53 | - | €60,000 | €120,000 | €180,000 | €206,613 | ▲ 14.8% |
| Cash at bank and in hand54/58 | €333,904 | €204,444 | €213,999 | €199,973 | €79,108 | ▼ 60.4% |
| Deferred charges and accrued income490/1 | €13,078 | €11,386 | €13,238 | €13,029 | €15,056 | ▲ 15.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €716,980 | €645,738 | €684,923 | €737,831 | €577,611 | ▼ 21.7% |
| Equity10/15 | €269,109 | €300,052 | €379,265 | €399,689 | €368,686 | ▼ 7.8% |
| Contributions10/11 | €37,184 | €37,184 | €37,184 | €37,184 | €37,184 | = |
| Reserves13 | €231,925 | €262,868 | €342,081 | €362,505 | €362,505 | = |
| Non-distributable reserves130/1 | €3,718 | €3,718 | - | - | - | - |
| Reserves not available under the articles1311 | €3,718 | €3,718 | - | - | - | - |
| Tax-exempt reserves132 | €35,000 | €35,000 | €35,000 | €35,000 | €35,000 | = |
| Distributable reserves133 | €193,207 | €224,150 | €307,081 | €327,505 | €327,505 | = |
| Profit (loss) carried forward14 | - | - | - | - | -€31,002 | - |
| Amounts payable17/49 | €447,871 | €345,686 | €305,658 | €338,143 | €208,925 | ▼ 38.2% |
| Amounts payable after more than one year17 | €73,358 | €34,973 | - | €30,545 | €13,282 | ▼ 56.5% |
| Financial debts170/4 | €73,358 | €34,973 | - | €30,545 | €13,282 | ▼ 56.5% |
| Amounts payable within one year42/48 | €374,513 | €310,714 | €305,658 | €307,597 | €195,642 | ▼ 36.4% |
| Current portion of amounts payable after more than one year42 | €37,267 | €38,386 | €33,973 | €16,766 | €17,263 | ▲ 3.0% |
| Trade debts44 | €254,728 | €197,686 | €191,068 | €189,537 | €96,209 | ▼ 49.2% |
| Suppliers440/4 | €254,728 | €197,686 | €191,068 | €189,537 | €96,209 | ▼ 49.2% |
| Taxes, remuneration and social security45 | €62,980 | €56,086 | €73,427 | €78,805 | €56,004 | ▼ 28.9% |
| Taxes450/3 | €17,164 | €11,450 | €21,209 | €13,115 | €11,965 | ▼ 8.8% |
| Remuneration and social security454/9 | €45,816 | €44,636 | €52,219 | €65,690 | €44,039 | ▼ 33.0% |
| Other amounts payable47/48 | €19,537 | €18,556 | €7,191 | €22,489 | €26,166 | ▲ 16.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €78,526 | €30,943 | €79,213 | €20,424 | -€31,002 | ▼ 252% |
| + Depreciation and write-downs630 | €56,124 | €57,862 | €27,858 | €27,491 | €35,205 | ▲ 28.1% |
| Operating cash flow (approximation) | €134,650 | €88,805 | €107,071 | €47,915 | €4,202 | ▼ 91.2% |
| Investment in fixed assets (approximation) | - | €1,000 | €0 | -€51,427 | €0 | ▲ 100% |
| Change in cash | - | -€129,460 | €9,555 | -€14,026 | -€120,865 | ▼ 762% |
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
24-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 55 days late
2025
31-12
Financial
Weakest financial yearnet -€31,002
Net result drops to -€31,002, the lowest in the series.
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
18-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 49 days late
2023
31-12
Financial
Highest result since 2018net €79,213 ▲156%
Operating result €137,982, net result €79,213, both a record.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 29 days late
2022
15-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 46 days late
2021
31-12
Financial
Equity above €200,000Eq €269,109 ▲41.2%
3 profitable years in a row build equity to €269,109.
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 23 days late
2020
31-12
Financial
Equity above €150,000Eq €190,583 ▲54.3%
2 profitable years in a row build equity to €190,583.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 61 days late
2019
31-12
Financial
Back to profitnet €21,605
Net result €21,605 after one loss-making year.
Show earlier events
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 29 days late
2018
01-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 62 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Sankt Vith · 1 establishment unit since 1989
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.
Aachener Strasse 184780 Sankt Vith1 establishment unit
Aachener Strasse 18, 4780 Sankt Vith
since 19892.042.827.225
Recognitions · licences · registrations
Food safety, FASFC
1 siteSankt Vith/Saint-Vith2.042.827.225
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Of 957 companies in sector 46319 we hold annual accounts for 610. 427 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
Founded06-03-1989
Fiscal year end31-12
Activities, NACEBEL 2025
46319Wholesale of fruit and vegetables, excluding potatoes
47210Retail sale of fruit and vegetables
E-invoicing
Reachable via Peppol
Peppol ID
0208:0436931946
Registered
12-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.