Skip to content

HERCOL

Active
Private limited company (pre-2019)founded 1989active for 37 yearsDuinenweg 13, 8421 De Haan, BelgiumKBO/BCE: BE 0438.245.307

Financials · financial year 2023, micro format

2024 annual accounts not yet filed, deadline passed on 31 July 2025 The financial year closed on 31 December 2024. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). 2 financial years without a filing since the last one filed. Source: NBB filings, as of 2 November 2026.

Annual accounts 2023 filed on 28-01-2025 PDF all 33 filings

Turnover
≈ €83,000
Estimated: probably between €38,000 and €200,000
Total assets
€167,381▲ 1.2%
2022 · €165,404
Net result
€1,915▼ 71.8%
2022 · €6,785
Working capital
€150,768▲ 1.4%
2022 · €148,758
Trend over the years

2019 to 2023, 5 financial years 2018 to 2023, 6 financial years

The operating result for 2023 is 64% lower than in 2022 and the lowest since 2019.

Operating result€3,266 2023 Net result€1,915 2023

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials (NACE 16). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line201820192020202120222023
Operating result€25,163-€8,649▼ 65.6%€17,723▲ 105%€4,079▼ 77.0%€9,198▲ 125%€3,266▼ 64.5%
Net result€19,240-€3,032▼ 84.2%€12,274within the sector's middle half▲ 305%€840within the sector's middle half▼ 93.2%€6,785within the sector's middle half▲ 708%€1,915within the sector's middle half▼ 71.8%
Equity€135,359-€138,391▲ 2.2%€150,665above the sector's middle half▲ 8.9%€151,505above the sector's middle half▲ 0.6%€158,290above the sector's middle half▲ 4.5%€160,204above the sector's middle half▲ 1.2%
Total assets€151,108-€155,441▲ 2.9%€156,219within the sector's middle half▲ 0.5%€161,429within the sector's middle half▲ 3.3%€165,404within the sector's middle half▲ 2.5%€167,381within the sector's middle half▲ 1.2%
Debt€15,749-€17,050▲ 8.3%€5,555▼ 67.4%€9,924▲ 78.7%€7,114▼ 28.3%€7,177▲ 0.9%
Working capital€121,441-€128,883▲ 6.1%€145,566above the sector's middle half▲ 12.9%€144,836above the sector's middle half▼ 0.5%€148,758above the sector's middle half▲ 2.7%€150,768above the sector's middle half▲ 1.4%
Solvency89.6%-89.0%▼ 0.5pp96.4%above the sector's middle half▲ 7.4pp93.9%above the sector's middle half▼ 2.6pp95.7%above the sector's middle half▲ 1.8pp95.7%above the sector's middle half=
Current ratio8.71-8.56▼ 0.1527.21above the sector's middle half▲ 18.6515.59above the sector's middle half▼ 11.6121.91above the sector's middle half▲ 6.3222.01above the sector's middle half▲ 0.10
Return on assets (ROA)12.7%-2.0%▼ 10.8pp7.9%within the sector's middle half▲ 5.9pp0.5%within the sector's middle half▼ 7.3pp4.1%within the sector's middle half▲ 3.6pp1.1%within the sector's middle half▼ 3.0pp
Staff (FTE)0.81▲ 25.0%
above within below The sector band is the middle half of the companies in Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials (NACE 16). 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.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €167,381
Fixed assets €9,436 ▼ 1.0%
Current assets €157,945 ▲ 1.3%
Equity and liabilities €167,381
Equity €160,204 ▲ 1.2%
Debt €7,177 ▲ 0.9%
Debt's share of the balance-sheet total stays at 4.3%.
Key figures and ratios
2023 value · change against 2022
EBITDA
€5,619▼
2022 · €10,935
Cash flow
€4,268▼
2022 · €8,522
Debt to equity
0.04▼
2022 · 0.04
ROE
1.2%▼
2022 · 4.3%
Interest coverage
19.96▼
2022 · 25.40
Debt ≤ 1 year
€7,177▲
2022 · €7,114
Income taxes
€1,117▼
2022 · €2,000
Staff costs
€4,820▲
2022 · €4,441
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet
Item31-12-202131-12-2022
Employees at the balance-sheet date21
full-time1-
part-time11
in full-time equivalents1.20.2
Average over the year, in full-time equivalents0.40.3
On a permanent contract11
Joined53
Left34

Source: social balance sheet in the 2021 to 2022 annual accounts

Investments

fixed assets acquired
Item202120222023
Tangible fixed assets-€7,485€2,393
Financial fixed assets-€2,400-
Depreciation and write-downs of the year€1,049€1,737€2,353

Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)

Comparable companies

These companies have the same main activity as HERCOL: manufacture of other wood products (NACE 16281). They are comparable in size and age: total assets between €114,000 and €309,000, founded between 1975 and 1996.

CompanyFoundedTotal assetsEquityGross marginNet resultFinancial year
HERCOL De Haan1989€167,381€160,204€10,887€1,9152023
AVALO Izegem1975€128,571€92,160€13,965€4,8342025
THOEN ET FILS Ukkel1987€114,392€107,656€5,704€9772025
ARTOBEL Maaseik1983€308,682€85,781€21,227-€9,7622025
GALERIJ GOYA Mechelen1992€291,333€244,715€23,340€6,5832025
ARTO PRODUCTION Kinrooi1996€159,712€71,030€29,104€8,9322025
Denis - Knubben Sprimont1991€195,018-€1,989€3,724-€9,3362025

They were chosen from the 163 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Annual accounts
Filed annual accounts As filed with the NBB · 2023 against 2022 · 43 lines

Source: Annual accounts 2023 (PDF), filed on 28-01-2025.

Balance sheet Code20222023
Assets
Total assets20/58€165,404€167,381▲
Fixed assets21/28€9,532€9,436▼
Tangible fixed assets22/27€6,197€6,237▲
Plant, machinery and equipment23€2,810€1,945▼
Furniture and vehicles24€3,388€4,291▲
Financial fixed assets28€3,335€3,200▼
Current assets29/58€155,872€157,945▲
Amounts receivable within one year40/41€146,770€147,495▲
Trade receivables40€4,563€1,601▼
Other amounts receivable41€142,207€145,894▲
Cash at bank and in hand54/58€8,674€8,762▲
Deferred charges and accrued income490/1€429€1,688▲
Equity and liabilities
Total equity and liabilities10/49€165,404€167,381▲
Equity10/15€158,290€160,204▲
Contributions10/11€18,592€18,592=
Reserves13€1,859€1,859=
Non-distributable reserves130/1€1,859€1,859=
Reserves not available under the articles1311€1,859€1,859=
Profit (loss) carried forward14€137,838€139,753▲
Amounts payable17/49€7,114€7,177▲
Amounts payable within one year42/48€7,114€7,177▲
Trade debts44€3,669€2,653▼
Suppliers440/4€3,669€2,653▼
Taxes, remuneration and social security45€3,445€4,524▲
Taxes450/3€3,412€4,524▲
Remuneration and social security454/9€33-
Income statement Code20222023
Non-recurring operating income76A€9,576€7,586▼
Remuneration, social security and pensions62€4,441€4,820▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1,737€2,353▲
Other operating charges640/8€232€348▲
Non-recurring operating charges66A€526€100▼
Gross operating margin9900€16,134€10,887▼
Operating profit (loss)9901€9,198€3,266▼
Financial income75/76B€17€47▲
Recurring financial income75€17€47▲
Financial charges65/66B€430€282▼
Recurring financial charges65€430€282▼
Profit (loss) for the period before taxes9903€8,784€3,032▼
Income taxes67/77€2,000€1,117▼
Profit (loss) for the period9904€6,785€1,915▼
Profit (loss) for the period to be appropriated9905€6,785€1,915▼
Appropriation of the result
Profit (loss) to be appropriated9906€137,838€139,753▲
Profit (loss) brought forward from the previous period14P€131,054€137,838▲

The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Line201820192020202120222023Change
Non-recurring operating income76A---€8,323€9,576€7,586▼ 20.8%
Remuneration, social security and pensions62---€12,503€4,441€4,820▲ 8.5%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4,410€4,410€4,410€1,049€1,737€2,353▲ 35.5%
Other operating charges640/8---€591€232€348▲ 50.2%
Non-recurring operating charges66A---€184€526€100▼ 81.0%
Gross operating margin9900€31,003€14,864€22,905€18,407€16,134€10,887▼ 32.5%
Operating profit (loss)9901€25,163€8,649€17,723€4,079€9,198€3,266▼ 64.5%
Financial income75/76B---€20€17€47▲ 184%
Recurring financial income75€43€21€15€20€17€47▲ 184%
Financial charges65/66B---€1,844€430€282▼ 34.6%
Recurring financial charges65€1,351€2,583€885€1,844€430€282▼ 34.6%
Profit (loss) for the period before taxes9903€23,855€6,087€16,853€2,255€8,784€3,032▼ 65.5%
Income taxes67/77€4,615€3,055€4,579€1,415€2,000€1,117▼ 44.1%
Profit (loss) for the period9904€19,240€3,032€12,274€840€6,785€1,915▼ 71.8%
Profit (loss) for the period to be appropriated9905€19,240€3,032€12,274€840€6,785€1,915▼ 71.8%
Line201820192020202120222023Change
Assets
Total assets20/58€151,108€155,441€156,219€161,429€165,404€167,381▲ 1.2%
Fixed assets21/28€13,918€9,508€5,098€6,669€9,532€9,436▼ 1.0%
Tangible fixed assets22/27€12,984€8,574€4,164€5,734€6,197€6,237▲ 0.6%
Plant, machinery and equipment23---€3,674€2,810€1,945▼ 30.8%
Furniture and vehicles24---€2,060€3,388€4,291▲ 26.7%
Financial fixed assets28€935€935€935€935€3,335€3,200▼ 4.0%
Current assets29/58€137,190€145,932€151,121€154,760€155,872€157,945▲ 1.3%
Amounts receivable within one year40/41€127,407€136,152€141,865€139,026€146,770€147,495▲ 0.5%
Trade receivables40---€3,695€4,563€1,601▼ 64.9%
Other amounts receivable41---€135,331€142,207€145,894▲ 2.6%
Cash at bank and in hand54/58€9,572€8,803€8,524€14,825€8,674€8,762▲ 1.0%
Deferred charges and accrued income490/1---€909€429€1,688▲ 294%
Equity and liabilities
Total equity and liabilities10/49€151,108€155,441€156,219€161,429€165,404€167,381▲ 1.2%
Equity10/15€135,359€138,391€150,665€151,505€158,290€160,204▲ 1.2%
Contributions10/11€18,592€18,592-€18,592€18,592€18,592=
Reserves13€1,859€1,859€1,859€1,859€1,859€1,859=
Non-distributable reserves130/1---€1,859€1,859€1,859=
Reserves not available under the articles1311---€1,859€1,859€1,859=
Profit (loss) carried forward14€114,908€117,940€130,213€131,054€137,838€139,753▲ 1.4%
Amounts payable17/49€15,749€17,050€5,555€9,924€7,114€7,177▲ 0.9%
Amounts payable within one year42/48€15,749€17,050€5,555€9,924€7,114€7,177▲ 0.9%
Trade debts44€2,770€9,381€991€3,288€3,669€2,653▼ 27.7%
Suppliers440/4---€3,288€3,669€2,653▼ 27.7%
Taxes, remuneration and social security45---€6,636€3,445€4,524▲ 31.3%
Taxes450/3---€5,977€3,412€4,524▲ 32.6%
Remuneration and social security454/9---€659€33--
Line201820192020202120222023Change
Profit (loss) for the period9904€19,240€3,032€12,274€840€6,785€1,915▼ 71.8%
+ Depreciation and write-downs630€4,410€4,410€4,410€1,049€1,737€2,353▲ 35.5%
Operating cash flow (approximation)€23,650€7,442€16,684€1,889€8,522€4,268▼ 49.9%
Investment in fixed assets (approximation)-€0€0-€2,620-€4,600-€2,258▲ 50.9%
Change in cash--€769-€279€6,301-€6,151€88-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

Download as CSV

Latest 10 of 33 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2023 micro format 28-01-2025 2025-00023006 PDF
31-12-2022 micro format 31-08-2023 2023-00434349 PDF
31-12-2021 micro format 20-06-2022 2022-20078464 PDF
31-12-2020 micro format 28-07-2021 2021-42000030 PDF
31-12-2019 micro format 31-08-2020 2020-48600481 PDF
31-12-2018 micro format 29-08-2019 2019-56000228 PDF
31-12-2017 micro format 28-06-2018 2018-25000235 PDF
31-12-2016 micro format 26-07-2017 2017-36400433 PDF
31-12-2015 abbreviated format 30-05-2016 2016-13900543 PDF
31-12-2014 abbreviated format 17-06-2015 2015-18300026 PDF

Show all 33 filings

Next steps