HEMCOR
ActiveSummary
HEMCOR has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.2m and a net result of -€230,710. Equity is shrinking by ~6.2% per year across the filed fiscal years. Its solvency ranks better than 26% of 5048 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability18▼-33
Solvency48▼-3
Growth32=
Track record94
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €95,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.19 against 0.23 in 2024; short-term debt: 41.2% and cash: 0.8% of total assets), and 76.6% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 →
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
23.4%
Return on assets
-2.4%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
2122232425
2021 to 2025 · latest year -€230,710
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 30-06-2026, 31 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
31 d early
2024
29 d early
2023
21 d early
2022
4 d early
2021
2 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 17 days before 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 11 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€0▼ 100%
2024 · €75,000
EBIT margin
-109.7%
Net result
-€230,710▼ 63.7%
2024 · -€140,951
Working capital
-€3.2m▼ 34.0%
2024 · -€2.4m
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
Turnover€0€75,000€0▼ 100%
Operating result€230,527-€315,655▲ 36.9%-€157,185-€82,294▲ 47.6%-€123,856▼ 50.5%
Net result€155,914within the sector's middle half-€189,844above the sector's middle half▲ 21.8%-€227,884below the sector's middle half-€140,951below the sector's middle half▲ 38.1%-€230,710below the sector's middle half▼ 63.7%
EBIT margin-109.7%
Equity€2.7mabove the sector's middle half-€2.8mabove the sector's middle half▲ 7.1%€2.6mwithin the sector's middle half▼ 8.0%€2.5mwithin the sector's middle half▼ 5.4%€2.2mwithin the sector's middle half▼ 9.3%
Total assets€9.8mabove the sector's middle half-€9.7mabove the sector's middle half▼ 0.5%€9.8mwithin the sector's middle half▲ 0.2%€9.7mwithin the sector's middle half▼ 0.9%€9.6mwithin the sector's middle half▼ 1.0%
Debt€7.1m-€6.9m▼ 3.3%€7.1m▲ 3.6%€7.2m▲ 0.8%€7.3m▲ 1.9%
Working capital-€548,573below the sector's middle half--€953,260below the sector's middle half▼ 73.8%-€1.7mbelow the sector's middle half▼ 73.5%-€2.4mbelow the sector's middle half▼ 43.4%-€3.2mbelow the sector's middle half▼ 34.0%
Solvency27.1%within the sector's middle half-29.2%within the sector's middle half▲ 2.1pp26.8%within the sector's middle half▼ 2.4pp25.6%within the sector's middle half▼ 1.2pp23.4%within the sector's middle half▼ 2.2pp
Current ratio0.41below the sector's middle half-0.33below the sector's middle half▼ 0.080.28below the sector's middle half▼ 0.050.23below the sector's middle half▼ 0.050.19below the sector's middle half▼ 0.04
Return on assets (ROA)1.6%within the sector's middle half-1.9%within the sector's middle half▲ 0.4pp-2.3%below the sector's middle half▼ 4.3pp-1.5%below the sector's middle half▲ 0.9pp-2.4%below the sector's middle half▼ 1.0pp
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 stays negative: a loss of €123,856 in 2025 against €82,294 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.6m
Fixed assets
€8.8m ▼ 1.7%
Current assets
€764,624 ▲ 7.6%
Equity and liabilities €9.6m
Equity
€2.2m ▼ 9.3%
Debt
€7.3m ▲ 1.9%
Debt's share of the balance-sheet total rises from 74.4% to 76.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€26,863▼
2024 · €68,426
Cash flow
-€79,990▼
2024 · €9,768
Debt to equity
3.26▲
2024 · 2.91
ROE
-10.3%▼
2024 · -5.7%
Interest coverage
0.24▼
2024 · 1.18
Debt ≤ 1 year
€3.9m▲
2024 · €3.1m
Debt > 1 year
€3.4m▼
2024 · €4.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | €0 | €75,000 | €35,000 | ▼ 53.3% |
| Turnover70 | - | - | €0 | €75,000 | €0 | ▼ 100% |
| Other operating income74 | - | - | - | - | €35,000 | - |
| Operating charges60/66A | - | - | €157,185 | €157,294 | €158,856 | ▲ 1.0% |
| Goods for resale, raw materials and consumables60 | - | - | €0 | - | - | - |
| Purchases600/8 | - | - | €0 | - | - | - |
| Services and other goods61 | - | - | €6,334 | €5,466 | €6,994 | ▲ 28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37,860 | €150,719 | €150,719 | €150,719 | €150,719 | = |
| Other operating charges640/8 | - | - | €132 | €1,108 | €1,143 | ▲ 3.1% |
| Gross operating margin9900 | €268,387 | €466,374 | - | - | - | - |
| Operating profit (loss)9901 | €230,527 | €315,655 | -€157,185 | -€82,294 | -€123,856 | ▼ 50.5% |
| Financial income75/76B | - | €4,289 | €0 | - | €4,580 | - |
| Recurring financial income75 | - | €4,289 | €0 | - | €4,580 | - |
| Income from current assets751 | - | - | - | - | €4,580 | - |
| Other financial income752/9 | - | - | €0 | - | - | - |
| Financial charges65/66B | €17,857 | €68,132 | €69,264 | €58,658 | €111,434 | ▲ 90.0% |
| Recurring financial charges65 | €17,857 | €68,132 | €69,264 | €58,658 | €111,434 | ▲ 90.0% |
| Debt charges650 | - | - | €68,832 | €58,147 | €110,926 | ▲ 90.8% |
| Other financial charges652/9 | - | - | €432 | €511 | €508 | ▼ 0.6% |
| Profit (loss) for the period before taxes9903 | €212,670 | €251,813 | -€226,448 | -€140,951 | -€230,710 | ▼ 63.7% |
| Income taxes67/77 | €56,756 | €61,969 | €1,436 | €0 | - | - |
| Taxes670/3 | - | - | €1,436 | €0 | - | - |
| Tax adjustments and reversals of tax provisions77 | - | - | €0 | - | - | - |
| Profit (loss) for the period9904 | €155,914 | €189,844 | -€227,884 | -€140,951 | -€230,710 | ▼ 63.7% |
| Profit (loss) for the period to be appropriated9905 | €155,914 | €189,844 | -€227,884 | -€140,951 | -€230,710 | ▼ 63.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €9.8m | €9.7m | €9.8m | €9.7m | €9.6m | ▼ 1.0% |
| Formation expenses20 | €3,237 | €2,517 | €1,798 | €1,079 | €360 | ▼ 66.7% |
| Fixed assets21/28 | €9.4m | €9.3m | €9.1m | €9.0m | €8.8m | ▼ 1.7% |
| Intangible fixed assets21 | €712,500 | €562,500 | €412,500 | €262,500 | €112,500 | ▼ 57.1% |
| Financial fixed assets28 | €8.7m | €8.7m | €8.7m | €8.7m | €8.7m | = |
| Affiliated companies280/1 | - | - | €8.7m | €8.7m | €8.7m | = |
| Participating interests280 | - | - | €8.7m | €8.7m | €8.7m | = |
| Companies linked by participating interests282/3 | - | - | €1,500 | €1,500 | €1,500 | = |
| Participating interests282 | - | - | €1,500 | €1,500 | €1,500 | = |
| Current assets29/58 | €381,890 | €469,963 | €643,690 | €710,600 | €764,624 | ▲ 7.6% |
| Amounts receivable after more than one year29 | - | - | €100,000 | €100,000 | €100,000 | = |
| Other amounts receivable291 | - | - | €100,000 | €100,000 | €100,000 | = |
| Stocks and contracts in progress3 | - | - | €0 | €0 | €0 | - |
| Amounts receivable within one year40/41 | €32,499 | €425,729 | €473,248 | €549,590 | €590,684 | ▲ 7.5% |
| Trade receivables40 | €30,357 | €2,378 | €0 | €75,000 | €110,320 | ▲ 47.1% |
| Other amounts receivable41 | €2,142 | €423,351 | €473,248 | €474,590 | €480,364 | ▲ 1.2% |
| Cash at bank and in hand54/58 | €349,392 | €44,234 | €70,441 | €61,010 | €73,940 | ▲ 21.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €9.8m | €9.7m | €9.8m | €9.7m | €9.6m | ▼ 1.0% |
| Equity10/15 | €2.7m | €2.8m | €2.6m | €2.5m | €2.2m | ▼ 9.3% |
| Contributions10/11 | €2.5m | €2.5m | €2.5m | €2.5m | €2.5m | = |
| Reserves13 | €155,914 | €345,757 | €117,873 | €117,873 | €117,873 | = |
| Distributable reserves133 | €155,914 | €345,757 | €117,873 | €117,873 | €117,873 | = |
| Profit (loss) carried forward14 | - | - | - | -€140,951 | -€371,661 | ▼ 164% |
| Amounts payable17/49 | €7.1m | €6.9m | €7.1m | €7.2m | €7.3m | ▲ 1.9% |
| Amounts payable after more than one year17 | €6.2m | €5.5m | €4.8m | €4.1m | €3.4m | ▼ 17.7% |
| Financial debts170/4 | €6.2m | €5.5m | €4.8m | €4.1m | €3.4m | ▼ 17.7% |
| Subordinated loans170 | - | - | €1.5m | €1.6m | €1.6m | ▲ 1.2% |
| Credit institutions173 | - | - | €3.0m | €2.3m | €1.5m | ▼ 33.3% |
| Other loans174 | - | - | €297,026 | €300,966 | €304,986 | ▲ 1.3% |
| Amounts payable within one year42/48 | €930,463 | €1.4m | €2.3m | €3.1m | €3.9m | ▲ 27.9% |
| Current portion of amounts payable after more than one year42 | €750,000 | €750,000 | €750,000 | €750,000 | €750,000 | = |
| Trade debts44 | €4,289 | €344,099 | €342,502 | €341,954 | €343,443 | ▲ 0.4% |
| Suppliers440/4 | €4,289 | €344,099 | €342,502 | €341,954 | €343,443 | ▲ 0.4% |
| Taxes, remuneration and social security45 | €71,168 | €68,912 | €0 | - | - | - |
| Taxes450/3 | €71,168 | €68,912 | €0 | - | - | - |
| Other amounts payable47/48 | €105,007 | €260,212 | €1.2m | €2.0m | €2.8m | ▲ 43.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €155,914 | €189,844 | -€227,884 | -€140,951 | -€230,710 | ▼ 63.7% |
| + Depreciation and write-downs630 | €37,860 | €150,719 | €150,719 | €150,719 | €150,719 | = |
| Operating cash flow (approximation) | €193,773 | €340,563 | -€77,165 | €9,768 | -€79,990 | ▼ 919% |
| Investment in fixed assets (approximation) | - | -€14,719 | -€719 | -€719 | -€719 | = |
| Change in cash | - | -€305,158 | €26,208 | -€9,432 | €12,930 | ▲ 237% |
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
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet -€230,710
Net result drops to -€230,710, the lowest in the series.
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2021net €189,844 ▲21.8%
Operating result €315,655, net result €189,844, both a record.
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Temse · 1 establishment unit since 2021
Ground area
4,788 m²
Building footprint
5 m²
Volume, LiDAR
39 m³
Parcel 46025A0852/00_000, Flanders · tallest building 10.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
HEMCOR
since 20212.318.855.769
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46025A0852/00_000 | Flanders | 4,788 m² | 1 · 5 m² | 10.2 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.
Structure & network
Owners and holdings
2 owners · 5 holdingsChain of control
- FRELOTTE
- HEMCOR
Highest known parent: FRELOTTE. The sources do not say who stands above it.
Owners 2
- FRELOTTEparentSourceaccounts FRELOTTE 202451%
-
49%
Holdings 5
-
50%
-
50%
-
50%
-
50%
-
10%
According to the 2025 annual accounts of HEMCOR and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 943 companies in sector 46231 we hold annual accounts for 421. 221 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
Founded22-06-2021
Fiscal year end31-12
Activities, NACEBEL 2025
46231Wholesale of live animals
46321Wholesale of meat and meat products, excluding game and poultry
E-invoicing
Not found in the Peppol register
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Register as of 29 September 2026 · Peppol Directory
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