HERCAS
ActiveSummary
HERCAS has been active since 1982 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €8.2m and a net result of €3.2m. Equity is growing by ~4.8% per year across the filed fiscal years. Its solvency ranks better than 74% of 117 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2026
Axes · tick = 2025
Profitability100▲+53
Solvency100▲+14
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €700,000 at 30 days acceptable
Liquidity ample (current ratio 6.03 against 0.0 in 2025; short-term debt: 2.8% and cash: 0% of total assets), and 19.3% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2026Solvency, return and age of the figures
Solvency
80.7%
Return on assets
31.7%
Age of the figures
6 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 13-05-2026, 171 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
171 d early
2025
149 d early
2024
21 d early
2023
1 d early
2022
3 d late
2021
193 d early
2020
23 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 79 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today. Usually files around 10 October (4 of the last 5 filed years within 128 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-03-2027 close31-10-2027 deadline
History
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Financials · fiscal year 2026, abbreviated schema
In the rankings
#1 company by equity in Diksmuide, Real estate sector#2 company by total assets in Diksmuide, Real estate sector#3 oldest company in Diksmuide, Real estate sector
Equity
€8.2m▲ 64.6%
2025 · €5.0m
Total assets
€10.1m▲ 23.8%
2025 · €8.2m
Net result
€3.2m▲ 952%
2025 · €304,352
Working capital
€1.4m
2025 · -€1.4m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, 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
Line20222023202420252026
Operating result€278,605€288,822▲ 3.7%€389,607▲ 34.9%€436,086▲ 11.9%€285,902▼ 34.4%
Net result€190,807above the sector's middle half▼ 82.2%€189,317above the sector's middle half▼ 0.8%€267,031above the sector's middle half▲ 41.0%€304,352above the sector's middle half▲ 14.0%€3.2m▲ 952%
Equity€4.2mabove the sector's middle half▼ 16.0%€4.4mabove the sector's middle half▲ 4.0%€4.7mabove the sector's middle half▲ 6.1%€5.0mabove the sector's middle half▲ 6.5%€8.2m▲ 64.6%
Total assets€8.2mabove the sector's middle half▼ 12.7%€8.3mabove the sector's middle half▲ 0.8%€8.2mabove the sector's middle half▼ 1.0%€8.2mabove the sector's middle half▼ 0.1%€10.1m▲ 23.8%
Debt€4.0m▼ 8.8%€3.9m▼ 2.5%€3.5m▼ 8.9%€3.2m▼ 8.8%€2.0m▼ 39.3%
Working capital-€1.9mbelow the sector's middle half▼ 104%-€1.8mbelow the sector's middle half▲ 3.9%-€1.6mbelow the sector's middle half▲ 9.5%-€1.4mbelow the sector's middle half▲ 12.6%€1.4m
Solvency51.5%within the sector's middle half▼ 2.1pp53.1%within the sector's middle half▲ 1.6pp56.9%within the sector's middle half▲ 3.8pp60.7%within the sector's middle half▲ 3.8pp80.7%▲ 20.0pp
Current ratio0.01below the sector's middle half▼ 0.570.05below the sector's middle half▲ 0.040.00below the sector's middle half▼ 0.040.00below the sector's middle half=6.03▲ 6.03
Return on assets (ROA)2.3%within the sector's middle half▼ 9.1pp2.3%within the sector's middle half=3.3%within the sector's middle half▲ 1.0pp3.7%within the sector's middle half▲ 0.5pp31.7%▲ 28.0pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2026; 2026 is 34% below 2025.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €10.1m
Fixed assets
€8.4m ▲ 3.1%
Current assets
€1.7m ▲ 26,056,536%
Equity and liabilities €10.1m
Equity
€8.2m ▲ 64.6%
Debt
€2.0m ▼ 39.3%
Debt's share of the balance-sheet total falls from 39.3% to 19.3%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.24▼
2025 · 0.65
ROE
39.3%▲
2025 · 6.1%
Debt ≤ 1 year
€280,407▼
2025 · €1.4m
Debt > 1 year
€1.7m▼
2025 · €1.8m
Income taxes
€68,753▼
2025 · €102,818
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €1,172 | €1,176 | €1,300 | €1,320 | €1,528 | ▲ 15.8% |
| Non-recurring operating charges66A | €10,648 | - | - | - | - | - |
| Gross operating margin9900 | €290,425 | €289,998 | €390,907 | €437,406 | €287,430 | ▼ 34.3% |
| Operating profit (loss)9901 | €278,605 | €288,822 | €389,607 | €436,086 | €285,902 | ▼ 34.4% |
| Financial income75/76B | €648 | €31 | €17 | €42 | €3.0m | ▲ 7,212,149% |
| Recurring financial income75 | €648 | €31 | €17 | €42 | €3.0m | ▲ 7,212,149% |
| Financial charges65/66B | €39,328 | €35,564 | €33,000 | €28,958 | €25,323 | ▼ 12.6% |
| Recurring financial charges65 | €39,328 | €35,564 | €33,000 | €28,958 | €25,323 | ▼ 12.6% |
| Profit (loss) for the period before taxes9903 | €239,925 | €253,289 | €356,625 | €407,170 | €3.3m | ▲ 704% |
| Income taxes67/77 | €49,118 | €63,972 | €89,594 | €102,818 | €68,753 | ▼ 33.1% |
| Profit (loss) for the period9904 | €190,807 | €189,317 | €267,031 | €304,352 | €3.2m | ▲ 952% |
| Profit (loss) for the period to be appropriated9905 | €190,807 | €189,317 | €267,031 | €304,352 | €3.2m | ▲ 952% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €8.2m | €8.3m | €8.2m | €8.2m | €10.1m | ▲ 23.8% |
| Fixed assets21/28 | €8.2m | €8.2m | €8.2m | €8.2m | €8.4m | ▲ 3.1% |
| Financial fixed assets28 | €8.2m | €8.2m | €8.2m | €8.2m | €8.4m | ▲ 3.1% |
| Current assets29/58 | €18,382 | €86,926 | €6,187 | €6 | €1.7m | ▲ 26,056,536% |
| Amounts receivable within one year40/41 | €18,382 | €69,028 | €5 | €6 | €1.7m | ▲ 26,842,334% |
| Trade receivables40 | - | €63,000 | - | - | - | - |
| Other amounts receivable41 | €18,382 | €6,028 | €5 | €6 | €1.7m | ▲ 26,842,334% |
| Cash at bank and in hand54/58 | €0 | €17,899 | €6,182 | €0 | €2 | ▲ 1,137% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €8.2m | €8.3m | €8.2m | €8.2m | €10.1m | ▲ 23.8% |
| Equity10/15 | €4.2m | €4.4m | €4.7m | €5.0m | €8.2m | ▲ 64.6% |
| Contributions10/11 | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Capital10 | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Issued capital100 | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Reserves13 | €1.0m | €1.2m | €1.5m | €1.8m | €5.0m | ▲ 181% |
| Non-distributable reserves130/1 | €85,010 | €254,327 | €300,992 | €300,992 | €300,992 | = |
| Legal reserve130 | €85,010 | €254,327 | €300,992 | €300,992 | €300,992 | = |
| Distributable reserves133 | €948,150 | €948,150 | €1.2m | €1.5m | €4.7m | ▲ 217% |
| Profit (loss) carried forward14 | €171,292 | €171,292 | €171,292 | €171,292 | €171,292 | = |
| Amounts payable17/49 | €4.0m | €3.9m | €3.5m | €3.2m | €2.0m | ▼ 39.3% |
| Amounts payable after more than one year17 | €2.1m | €2.0m | €1.9m | €1.8m | €1.7m | ▼ 5.7% |
| Financial debts170/4 | €2.1m | €2.0m | €1.9m | €1.8m | €1.7m | ▼ 5.7% |
| Amounts payable within one year42/48 | €1.9m | €1.9m | €1.6m | €1.4m | €280,407 | ▼ 80.2% |
| Current portion of amounts payable after more than one year42 | €85,524 | €85,524 | €85,524 | €108,837 | €93,250 | ▼ 14.3% |
| Trade debts44 | €379 | - | - | - | - | - |
| Suppliers440/4 | €379 | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | €62,995 | €4,594 | €10,318 | €8,753 | ▼ 15.2% |
| Taxes450/3 | - | €62,995 | €4,594 | €10,318 | €8,753 | ▼ 15.2% |
| Other amounts payable47/48 | €1.8m | €1.7m | €1.5m | €1.3m | €178,404 | ▼ 86.3% |
| Accrued charges and deferred income492/3 | €34,871 | €30,881 | €30,120 | €23,978 | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €190,807 | €189,317 | €267,031 | €304,352 | €3.2m | ▲ 952% |
| Operating cash flow (approximation) | €190,807 | €189,317 | €267,031 | €304,352 | €3.2m | ▲ 952% |
| Investment in fixed assets (approximation) | - | €0 | -€1,883 | €0 | -€250,000 | - |
| Change in cash | - | €17,898 | -€11,717 | -€6,182 | €2 | ▲ 100% |
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 2027, expected by
2026
22-09
State Gazette act
General meeting · Director appointment
Permanent representative · Director in office
22-09
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
13-05
NBB filing
Annual accounts filed
fiscal year 2026 · abbreviated schema
31-03
Financial
Highest result since 2019net €3.2m ▲952%
Net result €3.2m, the highest in the series.
31-03
Financial
Liquidity times 1317038current ratio 6.03
Current ratio from 0.00 to 6.03; short-term debt falls from €1.4m to €280,407.
31-03
Financial
Equity above €5mEq €8.2m ▲64.6%
6 profitable years in a row build equity to €8.2m.
2025
04-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2024
10-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
03-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 3 days late
2021
21-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
31-03
Financial
Back to profitnet €1.1m
Net result €1.1m after one loss-making year.
Show earlier events
31-03
Financial
Equity above €5mEq €5.0m ▲27.1%
Equity rises from €3.9m to €5.0m.
2020
08-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
31-03
Financial
Weakest financial yearnet -€30,990
Net result drops to -€30,990, the lowest in the series; recovery starts the following year.
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
24-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
25-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 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, Diksmuide · 1 establishment unit since 1993
Ground area
6,105 m²
Building footprint
2,965 m²
Volume, LiDAR
17,326 m³
Parcel 32001A0713/00P002, Flanders · tallest building 15.5 m, ±2 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
HERCAS
since 19932.021.947.875
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 32001A0713/00P002 | Flanders | 6,105 m² | 1 · 2,965 m² | 15.5 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.
Structure & network
Owners and holdings
4 holdingsOwners 0
The accounts to 31-03-2026 list no shareholders, and no other source names one.
Holdings 4
-
100%
-
99.99%
-
99%
- Sourceown accounts 31-03-202650%
According to the annual accounts to 31-03-2026 of HERCAS 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
The group is listed under Ownership & control below; here you explore it as a network.
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Shareholding
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
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Of 9,146 companies in sector 68201 we hold annual accounts for 6,775. 2,467 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
Founded22-12-1982
Fiscal year end31-03
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0423777360
Also
9925:BE0423777360
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Register as of 28 September 2026 · Peppol Directory
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