Equity
HEOL has made a profit in every financial year since 2016.
HEOL has made a profit in every financial year since 2016.
The 2024 accounts came 12 days late. The other nine were filed on time.
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, small). It does better than 53% of them on solvency, 35% on liquidity, 58% on profitability and 78% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Liquidity is insufficient, with a current ratio of 0.54 (0.43 in 2024), below 1. Short-term debt is 35.7% and cash 9.8% of total assets. 40.2% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 43 days before the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
HEOL files the abbreviated format. That format states no turnover. The gross margin rose from -€14,523 in 2016 to -€8,980 in 2025.
The balance sheet grew most in 2017 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover: not included in this filing.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
3.1m | 3.1m | 3.0m | 3.0m | 3.4m | 3.6m | 3.7m | 3.8m | 3.9m | 3.0m | |
21/28 |
2.5m | 2.5m | 2.5m | 2.5m | 3.2m | 3.2m | 3.3m | 3.3m | 3.4m | 2.5m | |
22/27 |
- | - | - | 205 | 672,410 | 720,609 | 772,365 | 815,003 | 863,349 | 666 | |
22 |
- | - | - | - | 672,000 | 719,495 | 771,369 | 814,485 | 861,980 | - | |
24 |
- | - | - | 205 | 410 | 1,114 | 996 | 518 | 1,369 | 666 | |
28 |
2.5m | 2.5m | 2.5m | 2.5m | 2.5m | 2.5m | 2.5m | 2.5m | 2.5m | 2.5m | |
29/58 |
600,503 | 537,057 | 486,362 | 477,446 | 257,549 | 380,318 | 440,334 | 508,846 | 557,233 | 460,046 | |
50/53 |
293,700 | 300,000 | - | - | - | 200,335 | 200,335 | 200,335 | 200,335 | - | |
54/58 |
306,803 | 237,057 | 486,362 | 477,446 | 257,549 | 179,983 | 239,999 | 308,511 | 356,898 | 460,046 | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
3.1m | 3.1m | 3.0m | 3.0m | 3.4m | 3.6m | 3.7m | 3.8m | 3.9m | 3.0m | |
10/15 |
1.9m | 1.7m | 1.5m | 1.3m | 1.0m | 960,857 | 880,755 | 790,154 | 680,926 | 563,616 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | |
13 |
987,780 | 789,080 | 595,680 | 436,120 | 160,260 | 81,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
130/1 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | |
133 |
987,780 | 789,080 | 595,680 | 434,260 | 158,400 | 80,000 | - | - | - | - | |
14 |
860,613 | 860,538 | 860,465 | 860,454 | 860,451 | 860,397 | 860,295 | 769,694 | 660,466 | 543,156 | |
17/49 |
1.3m | 1.4m | 1.5m | 1.7m | 2.4m | 2.7m | 2.9m | 3.1m | 3.3m | 2.4m | |
17 |
140,000 | 140,000 | 140,000 | 140,000 | 692,016 | 603,030 | 653,326 | 702,913 | 751,801 | - | |
170/4 |
140,000 | 140,000 | 140,000 | 140,000 | 692,016 | 603,030 | 653,326 | 702,913 | 751,801 | - | |
42/48 |
1.1m | 1.2m | 1.4m | 1.5m | 1.7m | 2.1m | 2.2m | 2.4m | 2.5m | 2.4m | |
42 |
- | - | - | - | 51,014 | 50,296 | 49,587 | 48,888 | 48,199 | - | |
45 |
19,870 | 19,340 | 15,956 | 27,586 | 7,840 | 8,000 | - | - | - | 5,495 | |
450/3 |
19,870 | 19,340 | 15,956 | 27,586 | 7,840 | 8,000 | - | - | - | 5,495 | |
47/48 |
1.1m | 1.2m | 1.4m | 1.5m | 1.7m | 2.0m | 2.1m | 2.3m | 2.5m | 2.4m | |
492/3 |
- | - | - | 2,086 | - | - | - | - | - | - | |
| Income statement | |||||||||||
9900 |
-8,980 | -7,996 | -16,187 | 140,056 | -15,109 | -12,233 | -11,591 | 22,267 | -26,485 | -14,523 | |
630 |
- | - | 205 | 205 | 48,198 | 52,372 | 44,132 | 48,346 | 48,346 | 333 | |
640/8 |
187 | 185 | 351 | 4,594 | 3,540 | 3,545 | 3,181 | 3,338 | - | 420 | |
9901 |
-9,167 | -8,180 | -16,743 | 135,257 | -66,847 | -68,150 | -58,904 | -29,417 | -74,831 | -15,276 | |
75/76B |
234,600 | 229,364 | 198,000 | 176,800 | 168,000 | 166,000 | 160,000 | 149,800 | 192,600 | 565,800 | |
75 |
234,600 | 229,364 | 198,000 | 176,800 | 168,000 | 166,000 | 160,000 | 149,800 | 192,600 | 565,800 | |
65/66B |
6,788 | 8,370 | 5,730 | 8,608 | 14,858 | 9,748 | 10,495 | 11,154 | 522 | 13 | |
65 |
6,788 | 8,370 | 5,730 | 8,608 | 14,858 | 9,748 | 10,495 | 11,154 | 522 | 13 | |
9903 |
218,645 | 212,813 | 175,527 | 303,448 | 86,295 | 88,102 | 90,601 | 109,228 | 117,247 | 550,511 | |
67/77 |
19,870 | 19,340 | 15,956 | 27,586 | 7,840 | 8,000 | - | - | -63 | 5,495 | |
9904 |
198,775 | 193,473 | 159,571 | 275,862 | 78,455 | 80,102 | 90,601 | 109,228 | 117,310 | 545,016 | |
9905 |
198,775 | 193,473 | 159,571 | 275,862 | 78,455 | 80,102 | 90,601 | 109,228 | 117,310 | 545,016 | |
| Appropriation of the result | |||||||||||
9906 |
1.1m | 1.1m | 1.0m | 1.1m | 938,851 | 940,397 | 860,295 | 769,694 | 660,466 | 545,016 | |
14P |
860,538 | 860,465 | 860,454 | 860,451 | 860,397 | - | - | - | - | - | |
691/2 |
198,700 | 193,400 | 159,560 | 275,860 | 78,400 | 80,000 | - | - | - | 1,860 | |
6920 |
- | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
198,700 | 193,400 | 159,560 | 275,860 | 78,400 | 80,000 | - | - | - | - | |
| Document | |||||||||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 17-06-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 17-06-2026 | 2026-00169368 | |
| 31-12-2024 | full format | 12-08-2025 | 2025-00372402 | |
| 31-12-2023 | full format | 10-06-2024 | 2024-00117973 | |
| 31-12-2022 | full format | 07-06-2023 | 2023-00110861 | |
| 31-12-2021 | full format | 15-06-2022 | 2022-20068047 | |
| 31-12-2020 | full format | 07-07-2021 | 2021-32100224 | |
| 31-12-2019 | full format | 29-04-2020 | 2020-10300169 | |
| 31-12-2018 | full format | 02-07-2019 | 2019-27000371 | |
| 31-12-2017 | full format | 20-06-2018 | 2018-20800197 | |
| 31-12-2016 | full format | 21-06-2017 | 2017-19700596 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| - | - | -16,537 | 135,462 | -18,649 | -15,778 | -14,772 | 18,928 | -26,485 | -14,943 | ||
| - | - | 159,776 | 276,067 | 126,653 | 132,474 | 134,733 | 157,574 | 165,656 | 545,349 | ||
| - | - | 0 | -672,000 | 0 | 616 | 1,494 | 0 | 911,029 | 2.5m | ||
| 69,746 | -249,305 | 8,916 | 219,897 | 77,566 | -60,015 | -68,513 | -48,387 | -103,148 | - | ||
| -513,007 | -711,782 | -905,255 | -1.1m | -1.5m | -1.7m | -1.8m | -1.8m | -2.0m | -2.0m | ||
| 59.8% | 54.6% | 49.1% | 43.9% | 30.1% | 26.5% | 23.6% | 20.6% | 17.3% | 18.9% | ||
| 0.54 | 0.43 | 0.35 | 0.31 | 0.15 | 0.18 | 0.20 | 0.22 | 0.22 | 0.19 | ||
| 0.67 | 0.83 | 1.04 | 1.28 | 2.32 | 2.77 | 3.24 | 3.86 | 4.79 | 4.29 | ||
| 10.6% | 11.6% | 10.8% | 21.0% | 7.5% | 8.3% | 10.3% | 13.8% | 17.2% | 96.7% | ||
| 6.4% | 6.3% | 5.3% | 9.2% | 2.3% | 2.2% | 2.4% | 2.8% | 3.0% | 18.3% | ||
| - | - | -2.89 | 15.74 | -1.26 | - | - | - | - | - |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
The operating result for 2025 is a loss of €9,167, larger than the loss of €8,180 in 2024.
Debt's share of the balance-sheet total falls from 45.4% to 40.2%. Equity is higher and debt is lower.
HEOL has no parent and no holdings in its annual accounts. DANNO Frank René is the only director. HEOL shares no director with another company.
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Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| de Broquevillelaan 167 registered office 1200 Woluwe-Saint-Lambert 68110 Buying and selling of own real estate | 02-07-2015 | 2.343.730.331 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21673D0117/00E030 | 712 m² | 1 · 265 m² | 32.0 m · 10 |
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