HENRAD
ActiveSummary
HENRAD has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €909k and a net result of €789k. Equity is shrinking by ~32.6% per year across the filed fiscal years. Its solvency ranks better than 14% of 5989 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability68▲+7
Solvency34▼-1
Growth49▲+2
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days acceptable
Liquidity tight (current ratio 1.07 against 1.09 in 2023; short-term debt: 90.8% and cash: 13.8% of total assets), and 90.8% of the assets are financed with debt.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Six 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 →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
9.2%
Return on assets
8%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 5989 sector peers (2024).
NBB · sector comparisonPosition among 5989 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 01-07-2025, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
30 d early
2023
30 d early
2022
26 d early
2021
32 d early
2020
32 d early
2019
52 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
€34.67M▲ 6.2%
2023 · €32.65M
EBIT margin
6.2%▲ 2.5pp
2023 · 3.7%
Net result
€789k▲ 138%
2023 · €331k
Working capital
€667k▼ 11.9%
2023 · €757k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€33.16M▼ 1.2%€43.08M▲ 29.9%€38.68M▼ 10.2%€32.65M▼ 15.6%€34.67M▲ 6.2%
Operating result€1.94M▼ 12.8%€2.41M▲ 24.1%€3.61M▲ 49.7%€1.21M▼ 66.5%€2.14M▲ 76.7%
Net result€1.04M▼ 22.4%€1.01M▼ 3.5%€1.97M▲ 95.4%€331k▼ 83.2%€789k▲ 138%
EBIT margin5.9%▼ 0.8pp5.6%▼ 0.3pp9.3%▲ 3.7pp3.7%▼ 5.6pp6.2%▲ 2.5pp
Equity€4.41M▼ 24.8%€2.02M▼ 54.2%€989k▼ 51.0%€1.02M▲ 3.1%€909k▼ 10.9%
Total assets€13.15M▼ 6.6%€13.22M▲ 0.5%€12.88M▼ 2.5%€9.74M▼ 24.4%€9.84M▲ 1.1%
Debt€8.65M▲ 7.1%€11.16M▲ 29.0%€11.88M▲ 6.5%€8.72M▼ 26.6%€8.93M▲ 2.5%
Working capital€4.18M▼ 25.7%€1.77M▼ 57.6%€736k▼ 58.4%€757k▲ 2.9%€667k▼ 11.9%
Staff (FTE)33.7▼ 6.4%34.1▲ 1.2%34.5▲ 1.2%33.7▼ 2.3%30.4▼ 9.8%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 77% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €9.84M
Fixed assets
€242k ▼ 8.1%
Current assets
€9.60M ▲ 1.3%
Equity and liabilities €9.84M
Equity
€909k ▼ 10.9%
Debt
€8.93M ▲ 2.5%
Debt's share of the balance-sheet total rises from 89.5% to 90.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€2.19M▲
2023 · €1.27M
Cash flow
€847k▲
2023 · €391k
Current ratio
1.07▼
2023 · 1.09
Debt to equity
9.83▲
2023 · 8.54
ROE
86.7%▲
2023 · 32.4%
ROA
8.0%▲
2023 · 3.4%
Interest coverage
80.56▲
2023 · 65.78
Debt ≤ 1 year
€8.93M▲
2023 · €8.72M
Income taxes
€315k▲
2023 · €150k
Staff costs
€3.56M▲
2023 · €3.44M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €45.18M | €40.65M | €34.81M | €36.86M | ▲ 5.9% |
| Turnover70 | €33.16M | €43.08M | €38.68M | €32.65M | €34.67M | ▲ 6.2% |
| Other operating income74 | - | €1.90M | €1.97M | €2.16M | €2.19M | ▲ 1.4% |
| Non-recurring operating income76A | - | €200k | - | - | - | - |
| Operating charges60/66A | - | €42.77M | €37.04M | €33.60M | €34.73M | ▲ 3.3% |
| Goods for resale, raw materials and consumables60 | - | €36.52M | €30.80M | €26.70M | €27.86M | ▲ 4.4% |
| Purchases600/8 | - | €36.52M | €30.80M | €26.70M | €27.86M | ▲ 4.4% |
| Services and other goods61 | - | €3.07M | €3.06M | €3.40M | €3.21M | ▼ 5.7% |
| Remuneration, social security and pensions62 | - | €3.14M | €3.12M | €3.44M | €3.56M | ▲ 3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €94k | €63k | €56k | €60k | €59k | ▼ 2.4% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €-49k | €-30k | €-9k | - | - |
| Other operating charges640/8 | - | €16k | €39k | €5k | €29k | ▲ 458% |
| Non-recurring operating charges66A | - | - | €931 | - | - | - |
| Operating profit (loss)9901 | €1.94M | €2.41M | €3.61M | €1.21M | €2.14M | ▲ 76.7% |
| Financial income75/76B | - | €24k | €90k | €91k | €68k | ▼ 24.6% |
| Recurring financial income75 | €80k | €24k | €90k | €91k | €68k | ▼ 24.6% |
| Income from current assets751 | - | €23k | €64k | €78k | €67k | ▼ 13.9% |
| Other financial income752/9 | - | €735 | €26k | €12k | €936 | ▼ 92.4% |
| Financial charges65/66B | - | €1.05M | €982k | €817k | €1.10M | ▲ 34.6% |
| Recurring financial charges65 | €866k | €1.05M | €982k | €817k | €1.10M | ▲ 34.6% |
| Debt charges650 | €15k | €15k | €15k | €19k | €27k | ▲ 41.3% |
| Other financial charges652/9 | - | €1.04M | €967k | €798k | €1.07M | ▲ 34.4% |
| Profit (loss) for the period before taxes9903 | €1.16M | €1.38M | €2.72M | €481k | €1.10M | ▲ 129% |
| Income taxes67/77 | €113k | €374k | €749k | €150k | €315k | ▲ 110% |
| Taxes670/3 | - | €374k | €751k | €151k | €315k | ▲ 109% |
| Tax adjustments and reversals of tax provisions77 | - | - | €2k | €608 | - | - |
| Profit (loss) for the period9904 | €1.04M | €1.01M | €1.97M | €331k | €789k | ▲ 138% |
| Profit (loss) for the period to be appropriated9905 | €1.04M | €1.01M | €1.97M | €331k | €789k | ▲ 138% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €13.15M | €13.22M | €12.88M | €9.74M | €9.84M | ▲ 1.1% |
| Fixed assets21/28 | €326k | €290k | €263k | €264k | €242k | ▼ 8.1% |
| Tangible fixed assets22/27 | €299k | €264k | €236k | €237k | €215k | ▼ 9.2% |
| Land and buildings22 | - | €209k | €189k | €171k | €154k | ▼ 9.9% |
| Furniture and vehicles24 | - | €55k | €47k | €66k | €61k | ▼ 7.4% |
| Financial fixed assets28 | €26k | €26k | €26k | €27k | €27k | ▲ 1.9% |
| Other financial fixed assets284/8 | - | €26k | €26k | €27k | €27k | ▲ 1.9% |
| Amounts receivable and cash guarantees285/8 | - | €26k | €26k | €27k | €27k | ▲ 1.9% |
| Current assets29/58 | €12.83M | €12.93M | €12.62M | €9.47M | €9.60M | ▲ 1.3% |
| Amounts receivable within one year40/41 | €9.52M | €10.08M | €8.99M | €5.85M | €8.15M | ▲ 39.3% |
| Trade receivables40 | - | €6.33M | €3.65M | €3.81M | €3.52M | ▼ 7.7% |
| Other amounts receivable41 | - | €3.75M | €5.34M | €2.04M | €4.63M | ▲ 127% |
| Cash at bank and in hand54/58 | €3.16M | €2.70M | €3.46M | €3.46M | €1.36M | ▼ 60.8% |
| Deferred charges and accrued income490/1 | - | €142k | €163k | €164k | €91k | ▼ 44.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €13.15M | €13.22M | €12.88M | €9.74M | €9.84M | ▲ 1.1% |
| Equity10/15 | €4.41M | €2.02M | €989k | €1.02M | €909k | ▼ 10.9% |
| Contributions10/11 | €800k | €800k | €800k | €800k | €800k | = |
| Capital10 | - | €800k | €800k | €800k | €800k | = |
| Issued capital100 | - | €800k | €800k | €800k | €800k | = |
| Reserves13 | €1.03M | €81k | €81k | €81k | €81k | = |
| Non-distributable reserves130/1 | - | €80k | €80k | €80k | €80k | = |
| Legal reserve130 | - | €80k | €80k | €80k | €80k | = |
| Tax-exempt reserves132 | - | €1k | €1k | €1k | €1k | = |
| Profit (loss) carried forward14 | €2.59M | €1.14M | €108k | €139k | €28k | ▼ 79.8% |
| Provisions and deferred taxes16 | €88k | €39k | €9k | - | - | - |
| Provisions for liabilities and charges160/5 | - | €39k | €9k | - | - | - |
| Pensions and similar obligations160 | - | €39k | €9k | - | - | - |
| Amounts payable17/49 | €8.65M | €11.16M | €11.88M | €8.72M | €8.93M | ▲ 2.5% |
| Amounts payable within one year42/48 | €8.65M | €11.16M | €11.88M | €8.72M | €8.93M | ▲ 2.5% |
| Trade debts44 | €7.95M | €10.37M | €8.16M | €7.84M | €7.22M | ▼ 8.0% |
| Suppliers440/4 | - | €10.37M | €8.16M | €7.84M | €7.22M | ▼ 8.0% |
| Taxes, remuneration and social security45 | - | €788k | €719k | €578k | €818k | ▲ 41.4% |
| Taxes450/3 | - | €164k | €217k | €84k | €134k | ▲ 59.5% |
| Remuneration and social security454/9 | - | €624k | €502k | €494k | €683k | ▲ 38.3% |
| Other amounts payable47/48 | - | - | €3.00M | €300k | €900k | ▲ 200% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.04M | €1.01M | €1.97M | €331k | €789k | ▲ 138% |
| + Depreciation and write-downs630 | €94k | €63k | €56k | €60k | €59k | ▼ 2.4% |
| Operating cash flow (approximation) | €1.14M | €1.07M | €2.02M | €391k | €847k | ▲ 117% |
| Investment in fixed assets (approximation) | - | €-27k | €-28k | €-61k | €-37k | ▲ 39.0% |
| Change in cash | - | €-464k | €759k | €-2k | €-2.10M | ▼ 88,273% |
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
2026
05-08
State Gazette act
Appointment: PwC Bedrijfsrevisoren BV (statutory auditor)Permanent representative: Bart Van Gompel3 facts ▸
State Gazette act
Appointment: PwC Bedrijfsrevisoren BV (statutory auditor)
Permanent representative: Bart Van Gompel3 facts ▸
- General meeting, 29/06/2026
- Auditor appointment, PwC Bedrijfsrevisoren BV (statutory auditor)
- Permanent representative, Bart Van Gompel
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Equity above €1MEq €1.02M ▲3.1%
5 profitable years in a row build equity to €1.02M.
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €1.97M ▲95.4%
Operating result €3.61M, net result €1.97M, both a record.
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
21-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 52 days late
2019
31-12
Financial
Back to profitnet €1.34M
Net result €1.34M after one loss-making year.
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
29-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
30-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 31 acts read
About the unread acts
Of the 31 Belgian State Gazette acts we know for this company, 1 has been read. The other 30 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
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.
Location & real-estate footprint
Registered office, Herentals · 1 establishment unit since 1988
Ground area
7,126 m²
Building footprint
4,530 m²
Volume, LiDAR
26,476 m³
Parcel 13027A0023/00F004, Flanders · tallest building 24.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Welvaartstraat (HRT) 14, 2200 Herentals
since 19882.040.041.543
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13027A0023/00F004 | Flanders | 7,126 m² | 1 · 4,530 m² | 24.1 m · 2 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.
Statutory auditor
1 auditor| BV PwC BedrijfsrevisorenCurrent Statutory auditor · represented by Bart Van Gompel | 05-08-2026 → present |
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 3,804 EUR awarded · 3,687 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 906 EUR | 789 EUR |
| 2024 | 1 | 1,900 EUR | 1,900 EUR |
| 2023 | 1 | 566 EUR | 566 EUR |
| 2022 | 1 | 432 EUR | 432 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
Paepens
BE 0427.801.870
Ninove · Eq €896k
CLIMAPAC
BE 0477.995.016
Nazareth-De Pinte · Eq €927k
Grundfos Water Treatment Belgium
BE 0415.856.618
Nazareth-De Pinte · Eq €888k
J-P VOS - HI THERM PRODUCTS
BE 0436.362.418
Couvin · Eq €944k
LE COMPTOIR DES ENERGIES
BE 0688.638.038
Liège · Eq €876k
Of 473 companies in sector 46842 we hold annual accounts for 346. 258 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded23-02-1988
Fiscal year end31-12
Activities, NACEBEL 2025
46842Wholesale trade
Scores and ratios are computed by Checked and are not a credit decision.