HERSAD
ActiveHERSAD has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €210k and a net result of €158k. Equity is growing by ~25.4% per year across the filed fiscal years. Its solvency ranks better than 54% of 31459 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
98
/ 100
Excellent▲ +5 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency98▼-2
Growth78=
Stability100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €21k at 30 days acceptable
Liquidity ample (current ratio 2.49 against 2.84 in 2024), and 39.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 70
Relative position
BE, all sectors
reference
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
60.1%
Return on assets
45.2%
Age of the figures
8 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-05-2026, 64 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
64 d early
2024
44 d early
2023
37 d early
2022
39 d early
2021
39 d early
2020
39 d early
2019
44 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
11-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€210k▼ 2.4%
2024 · €215k
2018: €23k
2019: €50k
2020: €48k
2021: €100k
2022: €154k
2023: €190k
2024: €215k
2018 → 2025
Total assets
€350k▲ 5.5%
2024 · €332k
2018: €47k
2019: €72k
2020: €121k
2021: €111k
2022: €215k
2023: €305k
2024: €332k
2018 → 2025
Net result
€158k▲ 16.7%
2024 · €135k
2018: €12k
2019: €28k
2020: €53k
2021: €54k
2022: €104k
2023: €137k
2024: €135k
2018 → 2025
Working capital
€209k▼ 2.6%
2024 · €214k
2018: €1k
2019: €37k
2020: €40k
2021: €97k
2022: €151k
2023: €189k
2024: €214k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€100k-€154k▲ 53.7%€190k▲ 23.9%€215k▲ 13.1%€210k▼ 2.4%
Operating result€74k-€141k▲ 90.2%€181k▲ 28.3%€173k▼ 4.2%€194k▲ 11.9%
Net result€54k-€104k▲ 93.8%€137k▲ 31.9%€135k▼ 1.0%€158k▲ 16.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 12% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €350k
Fixed assets
€1k▲ 37.3%
Current assets
€349k▲ 5.4%
Equity and liabilities €350k
Equity
€210k▼ 2.4%
Debt
€140k▲ 20.2%
The debt ratio rises from 35.0% to 39.9%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€195k▲
2024 · €174k
Cash flow
€159k▲
2024 · €136k
Solvency
60.1%▼
2024 · 65.0%
Current ratio
2.49▼
2024 · 2.84
Quick ratio
2.49▼
2024 · 2.84
Debt / equity
0.66▲
2024 · 0.54
ROE
75.1%▲
2024 · 62.8%
ROA
45.2%▲
2024 · 40.8%
Interest coverage
1299.62▲
2024 · 1288.57
Debt
€140k▲
2024 · €116k
Debt ≤ 1 year
€140k▲
2024 · €116k
Income taxes
€48k▲
2024 · €44k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€332k€350k▲
Fixed assets21/28€1k€1k▲
Tangible fixed assets22/27€1k€1k▲
Plant, machinery and equipment23€315€1k▲
Furniture and vehicles24€767€468▼
Current assets29/58€331k€349k▲
Amounts receivable within one year40/41€16k€13k▼
Trade receivables40€10k€12k▲
Other amounts receivable41€5k€481▼
Current investments50/53€284k€319k▲
Cash at bank and in hand54/58€31k€16k▼
Deferred charges and accrued income490/1€840€874▲
Equity and liabilities
Total equity and liabilities10/49€332k€350k▲
Equity10/15€215k€210k▼
Contributions10/11€19k€19k=
Reserves13€197k€192k▼
Distributable reserves133€197k€192k▼
Profit (loss) carried forward14€0€0=
Amounts payable17/49€116k€140k▲
Amounts payable within one year42/48€116k€140k▲
Trade debts44€525€717▲
Suppliers440/4€525€717▲
Taxes, remuneration and social security45€79€5k▲
Taxes450/3€79€5k▲
Other amounts payable47/48€116k€134k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€563€819▲
Other operating charges640/8€1,000€1k▲
Gross operating margin9900€175k€196k▲
Operating profit (loss)9901€173k€194k▲
Financial income75/76B€6k€13k▲
Recurring financial income75€6k€13k▲
Financial charges65/66B€135€150▲
Recurring financial charges65€135€150▲
Profit (loss) for the period before taxes9903€179k€207k▲
Income taxes67/77€44k€48k▲
Profit (loss) for the period9904€135k€158k▲
Profit (loss) for the period to be appropriated9905€135k€158k▲
Appropriation of the result
Profit (loss) to be appropriated9906€135k€158k▲
Transfer from equity791/2-€35k
Transfer to equity691/2€25k€30k▲
To other reserves6921€25k€30k▲
Profit to be distributed694/7€110k€163k▲
Return on contributions (dividend)694€110k€163k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €158k ▲16.7%
Operating result €194k, net result €158k, both a record.
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €200kEq €215k ▲13.1%
7 profitable years in a row build equity to €215k.
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €150kEq €154k ▲53.7%
5 profitable years in a row build equity to €154k.
22-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity times 6current ratio 9.91
Current ratio from 1.55 to 9.91; short-term debt falls from €73k to €11k.
31-12
Financial
Equity above €100kEq €100k ▲108%
4 profitable years in a row build equity to €100k.
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
17-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Liquidity doublescurrent ratio 2.62
Current ratio from 1.06 to 2.62; short-term debt falls from €24k to €23k.
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
11-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Arendonk · 1 establishment unit since 2013
Ground area
503 m²
Building footprint
245 m²
Volume, LiDAR
1,217 m³
Parcel 13322D0823/00N000, Flanders · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
HERSAD
since 20132.221.647.715
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13322D0823/00N000 | Flanders | 503 m² | 1 · 245 m² | 8.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 82,190 companies in sector 70200 we hold annual accounts for 52,402. 39,529 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-08-2013
Fiscal year end31-12
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 12 filingsAddress and cadastre registers
Data from official sources, last processed on 10-09-2026. Scores and ratios are computed by Checked and are not a credit decision.