Hercull (0541.983.441): financials and annual accounts

Annual accounts 2025

abbreviated format, filed on 28-04-2026, 94 days before the deadline

€1.7m

▲ 4.8%

€1.2m

▲ 3.7%

€649,679

▼ 17.9%

€3.5m

▼ 8.3%

6.5%

▼ 1.9 percentage points

1.18

▼ 0.44

Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €2.2m. Estimated: probably between €1.8m and €4.7m.

In the rankings #7 employer in Kortrijk, Real estate sector

Balance sheet

balance sheet total €22.8m on 31-12-2025

What the company ownsHow it is paid for

in €m

Position in the sector

Compare with sector

6.5%

Higher than 25% of 11,299 companies in 2025.

1.18

Higher than 51% of 10,851 companies in 2025.

2.9%

Higher than 64% of 11,184 companies in 2025.

Hercull Middle half of the sector 80% of the sector Abbreviated accounts in real estate (NACE 68)

Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter · Staff: top quarter

Staff

€124,308

Staff costs divided by the average number of full-time equivalents.

level

people who joined people who left

In 2025, nobody joined and nobody left.

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Balance sheet: assets
`20/58`	22.8m	9.8m	7.2m	3.1m	23,482	33,250	119,774	702,962	948,640	1.0m	1.4m	2.0m
`21/28`	13,053	7,008	8,187	-	-	-	-	-	-	-	-	-
`22/27`	13,053	7,008	8,187	-	-	-	-	-	-	-	-	-
`23`	4,415	0	1,637	-	-	-	-	-	-	-	-	-
`24`	8,639	7,008	6,550	-	-	-	-	-	-	-	-	-
`29/58`	22.7m	9.8m	7.2m	3.1m	23,482	33,250	119,774	702,962	948,640	1.0m	1.4m	2.0m
`3`	18.8m	6.5m	6.0m	3.0m	-	-	0	657,710	847,704	968,137	1.3m	1.9m
`30/36`	18.8m	6.5m	6.0m	3.0m	-	-	0	657,710	847,704	968,137	1.3m	1.9m
`40/41`	2.2m	3.1m	768,505	52,218	383	-	0	39,411	98,928	47,613	76,600	34,867
`40`	2.2m	3.0m	727,306	25,000	-	-	-	-	-	-	-	-
`41`	2,867	105,231	41,199	27,218	383	-	0	39,411	98,928	47,613	76,600	34,867
`54/58`	1.8m	249,394	448,567	38,673	23,099	33,250	119,774	5,841	2,009	2,470	-	12,822
`490/1`	30,946	7,381	1,996	-	-	-	-	-	-	-	-	-
Balance sheet: equity and liabilities
`10/49`	22.8m	9.8m	7.2m	3.1m	23,482	33,250	119,774	702,962	948,640	1.0m	1.4m	2.0m
`10/15`	1.5m	830,995	39,973	16,783	23,482	27,939	31,304	33,135	147,580	122,802	63,350	-21,094
`10/11`	27,000	27,000	27,000	27,000	27,000	27,000	27,000	27,000	27,000	27,000	27,000	27,000
`100`	-	-	-	-	-	-	27,000	27,000	27,000	27,000	27,000	27,000
`13`	4,222	4,222	4,222	4,222	4,222	4,222	4,222	4,222	4,222	4,222	4,222	-
`130/1`	-	-	-	-	4,222	4,222	-	-	-	-	-	-
`130`	-	-	-	-	-	-	4,222	4,222	4,222	4,222	4,222	-
`1311`	-	-	-	-	4,222	4,222	-	-	-	-	-	-
`133`	4,222	4,222	4,222	4,222	-	-	-	-	-	-	-	-
`14`	1.4m	799,773	8,751	-14,440	-7,740	-3,283	81	1,913	116,358	91,580	32,128	-48,094
`17/49`	21.3m	9.0m	7.2m	3.1m	-	5,311	88,471	669,827	801,060	895,418	1.3m	2.0m
`17`	2.0m	2.9m	3.7m	-	-	-	-	-	-	-	828,080	803,990
`170/4`	2.0m	2.9m	3.7m	-	-	-	-	-	-	-	828,080	803,990
`42/48`	19.3m	6.1m	3.2m	3.1m	-	5,311	88,471	669,827	801,060	895,418	486,747	1.2m
`42`	33,614	212,150	29,436	-	-	-	-	-	-	-	-	-
`43`	6.8m	2.0m	0	2.0m	-	-	-	-	-	-	468,030	1.2m
`430/8`	6.8m	2.0m	0	2.0m	-	-	-	-	-	-	468,030	1.2m
`44`	621,125	1.9m	628,980	29,150	-	-	0	109	-	-	-	610
`440/4`	621,125	1.9m	628,980	29,150	-	-	0	109	-	-	-	610
`46`	5.6m	25,000	305,873	-	-	-	-	-	-	-	-	-
`45`	594,520	180,632	74,653	-	-	4,128	4,128	318	12,717	30,081	18,717	-
`450/3`	544,773	135,203	35,977	-	-	4,128	4,128	318	12,717	30,081	18,717	-
`454/9`	49,747	45,429	38,676	-	-	-	-	-	-	-	-	-
`47/48`	5.6m	1.8m	2.2m	1.1m	-	1,183	84,343	669,400	788,343	865,337	-	-
`492/3`	0	6,753	323,562	-	-	-	-	-	-	-	-	-
Income statement
`76A`	0	15	-	-	-	-	-	-	-	-	-	-
`9900`	1.7m	1.7m	466,726	-6,134	-3,758	-2,157	117,840	57,391	50,166	108,133	134,317	91,929
`62`	497,230	467,877	364,324	-	-	-	-	-	-	-	-	-
`630`	2,374	1,581	831	-	-	-	-	-	-	-	-	-
`640/8`	6,801	2,255	2,661	112	532	1,050	1,047	1,043	1,039	1,341	686	94,633
`9901`	1.2m	1.2m	98,910	-6,246	-4,289	-3,207	116,793	56,348	49,127	106,792	133,631	-2,704
`75/76B`	2,642	1,780	0	-	-	-	-	-	-	-	-	-
`75`	2,642	1,780	0	-	-	-	-	-	-	-	-	-
`65/66B`	330,920	122,225	66,919	453	167	158	1,337	10,060	11,632	17,259	30,471	45,390
`65`	330,920	122,225	66,919	453	167	158	1,337	10,060	11,632	17,259	30,471	45,390
`9903`	898,655	1.1m	31,991	-6,699	-4,457	-3,365	115,456	46,288	37,495	89,534	103,161	-48,094
`67/77`	248,976	271,277	8,801	-	-	0	34,128	13,583	12,717	30,081	18,717	-
`9904`	649,679	791,022	23,190	-6,699	-4,457	-3,365	81,328	32,705	24,778	59,452	84,443	-48,094
`9905`	649,679	791,022	23,190	-6,699	-4,457	-3,365	81,328	32,705	24,778	59,452	84,443	-48,094
Appropriation of the result
`9906`	1.4m	799,773	8,751	-14,440	-7,740	-3,283	83,241	149,063	116,358	91,580	36,350	-48,094
`14P`	799,773	8,751	-14,440	-7,740	-3,283	-	-	-	-	-	-	-
`691/2`	-	-	-	-	-	-	-	-	-	-	4,222	-
`6920`	-	-	-	-	-	-	-	-	-	-	4,222	-
`694/7`	-	-	-	-	-	0	83,160	147,150	-	-	-	-
`694`	-	-	-	-	-	0	83,160	147,150	-	-	-	-
Social balance sheet
`9087`	4	4	3.8	-	-	-	-	-	-	-	-	-
Hours worked`1013`	7,008	7,068	6,372	-	-	-	-	-	-	-	-	-
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

The notes to these accounts have 15 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2025 (PDF), filed on 28-04-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

Financial year	Type	Filed	Reference	Document
31-12-2025	abbreviated format	28-04-2026	2026-00089982	PDF
31-12-2024	abbreviated format	17-06-2025	2025-00144056	PDF
31-12-2023	abbreviated format	26-08-2024	2024-00374060	PDF
31-12-2022	abbreviated format	20-06-2023	2023-00138045	PDF
31-12-2021	abbreviated format	23-06-2022	2022-20085694	PDF
31-12-2020	abbreviated format	03-05-2021	2021-13400105	PDF
31-12-2019	abbreviated format	30-04-2020	2020-11100316	PDF
31-12-2018	abbreviated format	13-05-2019	2019-13200043	PDF
31-12-2017	abbreviated format	17-07-2018	2018-33800342	PDF
31-12-2016	abbreviated format	27-06-2017	2017-22300407	PDF
31-12-2015	abbreviated format	24-08-2016	2016-46600366	PDF
31-12-2014	abbreviated format	10-07-2015	2015-29900219	PDF

Subsidies and aid

Flemish government 2023 to 2025, 3 entries, €3,719 awarded, €3,719 paid

Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)

€3,719

Year	Entries	Awarded	Paid
2025	1	€734	€734
2024	1	€2,451	€2,451
2023	1	€534	€534

Key figures and ratios

per financial year, computed from the annual accounts

2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
1.2m	1.2m	99,741	-	-	-	-	-	-	-	-	-
652,053	792,603	24,021	-	-	-	-	-	-	-	-	-
8,419	2,039	9,018	-	-	-	-	-	-	-	-	-
1.5m	-199,173	409,894	15,574	-10,151	-86,525	113,933	3,833	-462	-	-	-
3.5m	3.8m	4.0m	16,783	-	27,939	31,304	33,135	147,580	122,802	891,430	782,897
6.5%	8.4%	0.6%	0.5%	100.0%	84.0%	26.1%	4.7%	15.6%	12.1%	4.6%	-1.1%
1.18	1.62	2.25	1.01	-	6.26	1.35	1.05	1.18	1.14	2.83	1.65
0.21	0.55	0.38	0.03	-	6.26	1.35	0.07	0.13	0.06	0.16	0.04
14.37	10.84	-	-	-	0.19	2.83	20.21	5.43	7.29	20.76	-
43.9%	95.2%	58.0%	-39.9%	-19.0%	-12.0%	259.8%	98.7%	16.8%	48.4%	133.3%	-
2.9%	8.0%	0.3%	-0.2%	-19.0%	-10.1%	67.9%	4.7%	2.6%	5.8%	6.1%	-2.4%
3.71	9.69	1.49	-	-	-	-	-	-	-	-	-

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.

Social balance sheet

Item	31-12-2025	31-12-2024	31-12-2023
Employees at the balance-sheet date	4	4	4
full-time	4	4	4
part-time	0	0	0
in full-time equivalents	4	4	4
	4	4	3.8
On a permanent contract	4	4	4
Joined	0	0	4
Left	0	0	0

Source: social balance sheet in the 2023 to 2025 annual accounts

Securities and guarantees

on own assets and for others

Item	2025	2024	2023	2022	2021
Debts secured on the company's own assets	-	-	€4.3m	€2.0m	-
Mortgages, amount registered	€110,000	€110,000	€110,000	€50,000	-
	€3.8m	€3.8m	€3.8m	€2.0m	-
Carrying value of the mortgaged assets	€4.5m	€4.2m	€5.8m	€3.0m	-

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€8,419	€2,039	€9,018	-	-
	€2,374	€1,581	€831	-	-

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on Hercull

The operating result for 2025 is 4% higher than in 2024 and the highest since 2014. It is the third rise in a row, after the fall in 2022.

Debt's share of the balance-sheet total rises from 91.6% to 93.5%. Equity and debt are higher.

Annual accounts 2025

Balance sheet

Change in equityin €m

Change in cashin €m

Position in the sector

Solvency6.5%

Current ratio1.18

Return on assets2.9%

Staff

Staff cost per FTE€124,308

Joined and leftlevel

Filed annual accounts

Filings

Subsidies and aid

Flemish government 2023 to 2025, 3 entries, €3,719 awarded, €3,719 paid

Key figures and ratios

Social balance sheet

Securities and guarantees

Investments

Insights on Hercull

Next steps

in €m

in €m

6.5%

1.18

2.9%

€124,308

level