HENCORP
ActiveHENCORP has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €556k and a net result of €-97k. Equity is growing by ~5.7% per year across the filed fiscal years. Its solvency ranks better than 34% of 375 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
55
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability33▲+31
Solvency45▼-10
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity short (current ratio 1.0 against 1.34 in 2024; short-term debt: 38.1% and cash: 2.6% of total assets), and 80% 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+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 55
Relative position
BE, all sectors
reference
Sector 55
higher
← fewer bankruptcies
more bankruptcies →
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
1819202122232425
2018 to 2025 · latest year €-97k
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 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
1 d early
2023
33 d early
2022
28 d early
2021
11 d early
2020
27 d late
2019
1 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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-97k▲ 66.6%
2024 · €-290k
2018: €30k
2019: €14k
2020: €71k
2021: €272k
2022: €47k
2023: €-18k
2024: €-290k
2018 → 2025
Working capital
€-1k
2024 · €188k
2018: €-433k
2019: €55k
2020: €37k
2021: €345k
2022: €466k
2023: €428k
2024: €188k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€914k-€961k▲ 5.2%€942k▼ 1.9%€653k▼ 30.7%€556k▼ 14.8%
Operating result€360k-€84k▼ 76.8%€-3k€-231k▼ 7,346%€-22k▲ 90.7%
Net result€272k-€47k▼ 82.7%€-18k€-290k▼ 1,466%€-97k▲ 66.6%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €22k in 2025 against €231k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.78M
Fixed assets
€1.72M▲ 16.7%
Current assets
€1.06M▲ 44.6%
Equity and liabilities €2.78M
Equity
€556k▼ 14.8%
Provisions
€17k▼ 28.3%
Debt
€2.20M▲ 44.2%
The debt ratio rises from 69.3% to 79.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€254k▲
2024 · €-17k
Cash flow
€179k▲
2024 · €-75k
Solvency
20.0%▼
2024 · 29.6%
Current ratio
1.00▼
2024 · 1.34
Quick ratio
0.97▼
2024 · 1.27
Debt / equity
3.97▲
2024 · 2.34
ROE
-17.4%▲
2024 · -44.4%
ROA
-3.5%▲
2024 · -13.1%
Interest coverage
2.28▲
2024 · -0.26
Debt
€2.20M▲
2024 · €1.53M
Debt ≤ 1 year
€1.06M▲
2024 · €544k
Debt > 1 year
€1.15M▲
2024 · €877k
Income taxes
€7k▲
2024 · €0
Staff costs
€793k▲
2024 · €764k
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€2.21M€2.78M▲
Fixed assets21/28€1.47M€1.72M▲
Tangible fixed assets22/27€1.47M€1.72M▲
Land and buildings22€1.38M€1.65M▲
Plant, machinery and equipment23€87k€68k▼
Furniture and vehicles24€6k€1k▼
Financial fixed assets28€2k€2k=
Current assets29/58€732k€1.06M▲
Stocks and contracts in progress3€38k€33k▼
Stocks30/36€38k€33k▼
Amounts receivable within one year40/41€570k€878k▲
Trade receivables40€36k€84k▲
Other amounts receivable41€534k€794k▲
Cash at bank and in hand54/58€112k€73k▼
Deferred charges and accrued income490/1€11k€75k▲
Equity and liabilities
Total equity and liabilities10/49€2.21M€2.78M▲
Equity10/15€653k€556k▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Revaluation surpluses12€240k€240k=
Reserves13€351k€254k▼
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132€73k€52k▼
Distributable reserves133€272k€196k▼
Provisions and deferred taxes16€24k€17k▼
Provisions for liabilities and charges160/5€0-
Major repairs and maintenance162€0-
Deferred taxes168€24k€17k▼
Amounts payable17/49€1.53M€2.20M▲
Amounts payable after more than one year17€877k€1.15M▲
Financial debts170/4€877k€1.15M▲
Other amounts payable178/9€50€0▼
Amounts payable within one year42/48€544k€1.06M▲
Current portion of amounts payable after more than one year42€72k€124k▲
Financial debts43€18k€385k▲
Credit institutions430/8€18k€385k▲
Trade debts44€334k€321k▼
Suppliers440/4€334k€321k▼
Taxes, remuneration and social security45€102k€83k▼
Remuneration and social security454/9€102k€83k▼
Other amounts payable47/48€18k€146k▲
Accrued charges and deferred income492/3€108k€0▼
Income statement
Code20242025
Non-recurring operating income76A€15k€0▼
Remuneration, social security and pensions62€764k€793k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€214k€276k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Provisions for liabilities and charges: additions (uses and reversals)635/8€-25k€0▲
Other operating charges640/8€21k€8k▼
Non-recurring operating charges66A€0€800▲
Gross operating margin9900€743k€1.06M▲
Operating profit (loss)9901€-231k€-22k▲
Financial income75/76B€38€36k▲
Recurring financial income75€38€30k▲
Non-recurring financial income76B-€6k
Financial charges65/66B€66k€111k▲
Recurring financial charges65€66k€111k▲
Profit (loss) for the period before taxes9903€-297k€-97k▲
Transfer from deferred taxes780€8k€7k▼
Income taxes67/77€0€7k▲
Profit (loss) for the period9904€-290k€-97k▲
Transfer from tax-exempt reserves789€23k€21k▼
Profit (loss) for the period to be appropriated9905€-267k€-76k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-267k€-76k▲
Transfer from equity791/2€267k€76k▼
Transfer to equity691/2€0-
To other reserves6921€0-
Social balance
Average headcount (FTE)908721.720.6▼
The notes to these accounts (24 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
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €-290k
Net result drops to €-290k, the lowest in the series; recovery starts the following year.
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €272k ▲286%
Operating result €360k, net result €272k, both a record.
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 27 days late
2020
30-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Liquidity triplescurrent ratio 1.11
Current ratio from 0.34 to 1.11; short-term debt falls from €661k to €487k.
31-12
Financial
Equity above €500kEq €571k ▲56.5%
2 profitable years in a row build equity to €571k.
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Houffalize · 1 establishment unit since 1987
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.
Rue du Pont 106660 HouffalizeGround area
546 m²
Building footprint
479 m²
Volume, LiDAR
5,544 m³
Parcel 82014A0104/00K000, Wallonia · tallest building 15.9 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
HOTEL DU COMMERCE
since 19872.031.748.835
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 82014A0104/00K000 | Wallonia | 546 m² | 1 · 479 m² | 15.9 m · 4 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteHouffalize2.031.748.835
Legal Entity Identifier
9845001C6A70U814T083
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Of 2,395 companies in sector 55100 we hold annual accounts for 1,516. 1,087 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded10-11-1987
Fiscal year end31-12
Activities, NACEBEL
55100Hotels and similar accommodation
55101Hotels
Sources
Crossroads Bank for EnterprisesNational Bank · 38 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:thierry@hotelducommerce.be
Phone:+32473830127