HENS NANCY
ActiveFinancials · financial year 2026, abbreviated format
Annual accounts 2026 filed on 25-09-2026 at the NBB all 15 filings
Turnover
≈ €64,000
Estimated: probably between €34,000 and €130,000
Total assets
€320,058▼ 41.8%
2025 · €550,357
Net result
-€19,173
2025 · €7,617
Working capital
€162,780▼ 8.7%
2025 · €178,287
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
-€14,183
2026
20192026
Net result
-€19,173
2026
20192026
Equity
€102,094
▼ 15.8%
2026
20192026
Total assets
€320,058
▼ 41.8%
2026
20192026
Debt
€217,964
▼ 49.2%
2026
20192026
Working capital
€162,780
▼ 8.7%
2026
20192026
Solvency
31.9%
▲ 9.9pp
2026
20192026
Current ratio
6.18
▲ 4.39
2026
20192026
Return on assets (ROA)
-6.0%
▼ 7.4pp
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result-€10,665--€17,685▼ 65.8%€5,722€5,631▼ 1.6%€6,482▲ 15.1%-€2,283€12,519-€14,183
Net result-€15,055--€24,524▼ 62.9%€1,609below the sector's middle half€1,867below the sector's middle half▲ 16.1%€2,355within the sector's middle half▲ 26.1%-€6,278below the sector's middle half€7,617within the sector's middle half-€19,173
Equity€138,621-€114,097▼ 17.7%€115,706within the sector's middle half▲ 1.4%€117,573within the sector's middle half▲ 1.6%€119,928within the sector's middle half▲ 2.0%€113,650within the sector's middle half▼ 5.2%€121,267within the sector's middle half▲ 6.7%€102,094▼ 15.8%
Total assets€298,870-€528,277▲ 76.8%€535,223within the sector's middle half▲ 1.3%€532,106within the sector's middle half▼ 0.6%€565,847within the sector's middle half▲ 6.3%€554,458within the sector's middle half▼ 2.0%€550,357within the sector's middle half▼ 0.7%€320,058▼ 41.8%
Debt€160,249-€414,180▲ 158%€419,517▲ 1.3%€414,533▼ 1.2%€445,920▲ 7.6%€440,808▼ 1.1%€429,090▼ 2.7%€217,964▼ 49.2%
Working capital€86,582-€327,357▲ 278%€122,279within the sector's middle half▼ 62.6%€153,241within the sector's middle half▲ 25.3%€146,622within the sector's middle half▼ 4.3%€155,792within the sector's middle half▲ 6.3%€178,287within the sector's middle half▲ 14.4%€162,780▼ 8.7%
Solvency46.4%-21.6%▼ 24.8pp21.6%within the sector's middle half=22.1%within the sector's middle half▲ 0.5pp21.2%below the sector's middle half▼ 0.9pp20.5%below the sector's middle half▼ 0.7pp22.0%within the sector's middle half▲ 1.5pp31.9%▲ 9.9pp
Current ratio7.64-22.61▲ 14.971.51within the sector's middle half▼ 21.101.71within the sector's middle half▲ 0.201.65within the sector's middle half▼ 0.061.68within the sector's middle half▲ 0.041.80within the sector's middle half▲ 0.116.18▲ 4.39
Return on assets (ROA)-5.0%--4.6%▲ 0.4pp0.3%below the sector's middle half▲ 4.9pp0.4%below the sector's middle half▲ 0.1pp0.4%within the sector's middle half▲ 0.1pp-1.1%below the sector's middle half▼ 1.5pp1.4%within the sector's middle half▲ 2.5pp-6.0%▼ 7.4pp
above
within
below
The sector band is the middle half of the companies in Architectural and engineering activities; technical testing and analysis (NACE 71). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2026 is a loss of €14,183, after a profit of €12,519 in 2025. It is the lowest result since 2022.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €320,058
Fixed assets
€125,868 ▼ 15.2%
Current assets
€194,190 ▼ 51.7%
Equity and liabilities €320,058
Equity
€102,094 ▼ 15.8%
Debt
€217,964 ▼ 49.2%
Debt's share of the balance-sheet total falls from 78.0% to 68.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€8,385▼
2025 · €35,211
Cash flow
€3,395▼
2025 · €30,309
Debt to equity
2.13▼
2025 · 3.54
ROE
-18.8%▼
2025 · 6.3%
Interest coverage
1.67▼
2025 · 8.33
Debt ≤ 1 year
€31,410▼
2025 · €223,635
Debt > 1 year
€185,194▼
2025 · €202,833
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €327,188 | €317,938 | €298,688 | €289,438 | €90,188 |
| Mortgages, amount registered | €55,000 | €55,000 | €55,000 | €55,000 | €27,500 |
| Mortgage mandates | €379,500 | €379,500 | €379,500 | €379,500 | €176,000 |
| Carrying value of the mortgaged assets | €486,111 | €480,420 | €481,974 | €480,008 | €110,428 |
| Pledge on other assets, amount secured | €6,200 | - | - | - | - |
| Carrying value of the other pledged assets | - | €6,200 | - | - | - |
Source: notes to the 2022 to 2026 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,125 | €46,954 | - | - | - |
| Intangible fixed assets | - | - | €983 | - | - |
| Depreciation and write-downs of the year | €13,303 | €16,709 | €22,957 | €22,692 | €22,568 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 3 entries · €831 awarded · €831 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €126 | €126 |
| 2023 | 1 | €285 | €285 |
| 2022 | 1 | €420 | €420 |
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,710 | €13,472 | €13,479 | €13,303 | €16,709 | €22,957 | €22,692 | €22,568 | ▼ 0.5% |
| Other operating charges640/8 | - | - | - | €2,608 | €1,476 | €1,608 | €1,422 | €1,529 | ▲ 7.5% |
| Gross operating margin9900 | €4,714 | -€2,732 | €21,136 | €21,542 | €24,667 | €22,282 | €36,634 | €9,914 | ▼ 72.9% |
| Operating profit (loss)9901 | -€10,665 | -€17,685 | €5,722 | €5,631 | €6,482 | -€2,283 | €12,519 | -€14,183 | - |
| Financial income75/76B | - | - | - | €81 | €21 | €1,194 | €85 | €35 | ▼ 58.6% |
| Recurring financial income75 | €428 | €25 | €6 | €81 | €21 | €1,194 | €85 | €35 | ▼ 58.6% |
| Financial charges65/66B | - | - | - | €3,205 | €3,958 | €5,045 | €4,226 | €5,025 | ▲ 18.9% |
| Recurring financial charges65 | €4,630 | €6,680 | €3,842 | €3,205 | €3,958 | €5,045 | €4,226 | €5,025 | ▲ 18.9% |
| Profit (loss) for the period before taxes9903 | -€14,867 | -€24,340 | €1,886 | €2,507 | €2,544 | -€6,134 | €8,379 | -€19,173 | - |
| Income taxes67/77 | €188 | €185 | €278 | €639 | €189 | €144 | €762 | - | - |
| Profit (loss) for the period9904 | -€15,055 | -€24,524 | €1,609 | €1,867 | €2,355 | -€6,278 | €7,617 | -€19,173 | - |
| Transfer from tax-exempt reserves789 | - | - | - | €3,827 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€15,055 | -€24,524 | €2,533 | €5,694 | €2,355 | -€6,278 | €7,617 | -€19,173 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €298,870 | €528,277 | €535,223 | €532,106 | €565,847 | €554,458 | €550,357 | €320,058 | ▼ 41.8% |
| Fixed assets21/28 | €199,241 | €185,769 | €173,214 | €163,036 | €193,281 | €171,128 | €148,436 | €125,868 | ▼ 15.2% |
| Intangible fixed assets21 | - | - | - | - | - | €817 | €489 | €162 | ▼ 67.0% |
| Tangible fixed assets22/27 | €199,062 | €185,590 | €173,035 | €162,857 | €193,102 | €170,311 | €147,946 | €125,706 | ▼ 15.0% |
| Land and buildings22 | - | - | - | €154,777 | €144,318 | €133,021 | €121,725 | €110,428 | ▼ 9.3% |
| Plant, machinery and equipment23 | - | - | - | €1,097 | €823 | €548 | €274 | - | - |
| Furniture and vehicles24 | - | - | - | €6,984 | €47,961 | €36,741 | €25,947 | €15,278 | ▼ 41.1% |
| Financial fixed assets28 | €179 | €179 | €179 | €179 | €179 | - | - | - | - |
| Current assets29/58 | €99,629 | €342,508 | €362,009 | €369,070 | €372,566 | €383,330 | €401,922 | €194,190 | ▼ 51.7% |
| Stocks and contracts in progress3 | - | €308,646 | €330,147 | €333,511 | €338,720 | €351,175 | €360,108 | - | - |
| Stocks30/36 | - | - | - | €333,511 | €338,720 | €351,175 | €360,108 | - | - |
| Amounts receivable within one year40/41 | €12,091 | €3,188 | €9,428 | €12,462 | €8,270 | €22,545 | €21,833 | €14,330 | ▼ 34.4% |
| Trade receivables40 | - | - | - | €11,806 | €8,270 | €22,545 | €21,833 | €13,976 | ▼ 36.0% |
| Other amounts receivable41 | - | - | - | €656 | - | - | - | €354 | - |
| Cash at bank and in hand54/58 | €85,074 | €27,928 | €21,075 | €21,868 | €23,447 | €8,275 | €10,531 | €142,183 | ▲ 14× |
| Deferred charges and accrued income490/1 | - | - | - | €1,229 | €2,130 | €1,336 | €9,449 | €37,677 | ▲ 299% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €298,870 | €528,277 | €535,223 | €532,106 | €565,847 | €554,458 | €550,357 | €320,058 | ▼ 41.8% |
| Equity10/15 | €138,621 | €114,097 | €115,706 | €117,573 | €119,928 | €113,650 | €121,267 | €102,094 | ▼ 15.8% |
| Contributions10/11 | €20,000 | - | - | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €118,151 | €96,151 | €95,227 | €96,400 | €98,750 | €93,550 | €101,167 | €97,017 | ▼ 4.1% |
| Non-distributable reserves130/1 | - | - | - | €2,000 | €2,000 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,000 | €2,000 | - | - | - | - |
| Distributable reserves133 | - | - | - | €94,400 | €96,750 | €93,550 | €101,167 | €97,017 | ▼ 4.1% |
| Profit (loss) carried forward14 | €470 | -€2,054 | €479 | €1,173 | €1,178 | €100 | €100 | -€14,923 | - |
| Amounts payable17/49 | €160,249 | €414,180 | €419,517 | €414,533 | €445,920 | €440,808 | €429,090 | €217,964 | ▼ 49.2% |
| Amounts payable after more than one year17 | €145,688 | €396,438 | €177,188 | €195,683 | €217,156 | €210,150 | €202,833 | €185,194 | ▼ 8.7% |
| Financial debts170/4 | - | - | - | €195,683 | €217,156 | €210,150 | €202,833 | €185,194 | ▼ 8.7% |
| Amounts payable within one year42/48 | €13,047 | €15,151 | €239,729 | €215,829 | €225,945 | €227,538 | €223,635 | €31,410 | ▼ 86.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €9,250 | €16,708 | €18,898 | €19,228 | €19,630 | ▲ 2.1% |
| Financial debts43 | - | - | - | €200,000 | €200,000 | €190,000 | €190,000 | - | - |
| Credit institutions430/8 | - | - | - | €200,000 | €200,000 | €190,000 | €190,000 | - | - |
| Trade debts44 | €598 | €2,539 | €430 | €736 | €1,631 | €2,619 | €787 | €934 | ▲ 18.6% |
| Suppliers440/4 | - | - | - | €736 | €1,631 | €2,619 | €787 | €934 | ▲ 18.6% |
| Taxes, remuneration and social security45 | - | - | - | €4,059 | €2,350 | €4,761 | €6,700 | €2,545 | ▼ 62.0% |
| Taxes450/3 | - | - | - | €4,059 | €2,350 | €4,761 | €6,700 | €2,545 | ▼ 62.0% |
| Other amounts payable47/48 | - | - | - | €1,784 | €5,256 | €11,259 | €6,919 | €8,301 | ▲ 20.0% |
| Accrued charges and deferred income492/3 | - | - | - | €3,021 | €2,819 | €3,120 | €2,622 | €1,360 | ▼ 48.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€15,055 | -€24,524 | €1,609 | €1,867 | €2,355 | -€6,278 | €7,617 | -€19,173 | - |
| + Depreciation and write-downs630 | €13,710 | €13,472 | €13,479 | €13,303 | €16,709 | €22,957 | €22,692 | €22,568 | ▼ 0.5% |
| Operating cash flow (approximation) | -€1,346 | -€11,053 | €15,088 | €15,170 | €19,064 | €16,680 | €30,309 | €3,395 | ▼ 88.8% |
| Investment in fixed assets (approximation) | - | €0 | -€924 | -€3,125 | -€46,954 | -€804 | €0 | €0 | - |
| Change in cash | - | -€57,146 | -€6,852 | €792 | €1,580 | -€15,172 | €2,256 | €131,652 | ▲ 58× |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 12,322 companies had the same profile as HENS NANCY has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of HENS NANCY itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 12,322 companies, not a prediction for HENS NANCY. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | abbreviated format | 25-09-2026 | 2026-00523787 | |
| 31-03-2025 | abbreviated format | 30-09-2025 | 2025-00513717 | |
| 31-03-2024 | abbreviated format | 30-09-2024 | 2024-00478561 | |
| 31-03-2023 | abbreviated format | 30-06-2023 | 2023-00178657 | |
| 31-03-2022 | abbreviated format | 18-08-2022 | 2022-20293824 | |
| 31-03-2021 | abbreviated format | 25-10-2021 | 2021-72800502 | |
| 31-03-2020 | abbreviated format | 31-07-2020 | 2020-37500414 | |
| 31-03-2019 | abbreviated format | 27-09-2019 | 2019-66300320 | |
| 31-03-2018 | abbreviated format | 28-09-2018 | 2018-66100397 | |
| 31-03-2017 | abbreviated format | 29-09-2017 | 2017-64300211 |