HERSCO GROUP
ActiveSummary
The computed 12-month bankruptcy probability of HERSCO GROUP is 3.4% (moderate). The 2025 annual accounts show equity of €68k and a net result of €16k. Equity is growing by ~39.9% per year across the filed fiscal years. Its solvency ranks better than 74% of 7500 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability89▼-11
Solvency92▼-1
Growth78=
Track record94
Bankruptcy probability, 12 months
3.4%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €4.5k at 30 days acceptable
Liquidity ample (current ratio 2.9 against 3.04 in 2024; short-term debt: 33.5% and cash: 83% of total assets), and 33.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← 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
66.5%
Return on assets
16%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 05-08-2026, 5 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 4 filingsDeviation from the deadline
2025
5 d late
2024
25 d late
2023
29 d late
2022
31 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€107k
EBIT margin
18.4%
Net result
€16k▼ 54.5%
2024 · €36k
2022: €13klowest in 4 years
2023: €13k▲ +1.1% vs 2022
2024: €36k▲ +178% vs 2023highest in 4 years
2025: €16k▼ -54.5% vs 2024
2022 → 2025
Working capital
€65k▲ 5.4%
2024 · €61k
2022: €14klowest in 4 years
2023: €23k▲ +61.7% vs 2022
2024: €61k▲ +162% vs 2023
2025: €65k▲ +5.4% vs 2024highest in 4 years
2022 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Turnover€107k-
Equity€16k-€28k▲ 81.7%€64k▲ 125%€68k▲ 5.5%
2022: €16klowest in 4 years
2023: €28k▲ +81.7% vs 2022
2024: €64k▲ +125% vs 2023
2025: €68k▲ +5.5% vs 2024highest in 4 years
Operating result€20k-€20k▲ 3.3%€50k▲ 147%€25k▼ 50.4%
2022: €20klowest in 4 years
2023: €20k▲ +3.3% vs 2022
2024: €50k▲ +147% vs 2023highest in 4 years
2025: €25k▼ -50.4% vs 2024
Net result€13k-€13k▲ 1.1%€36k▲ 178%€16k▼ 54.5%
2022: €13klowest in 4 years
2023: €13k▲ +1.1% vs 2022
2024: €36k▲ +178% vs 2023highest in 4 years
2025: €16k▼ -54.5% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 50% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €102k
Fixed assets
€3k ▲ 8.6%
Current assets
€99k ▲ 7.8%
Equity and liabilities €102k
Equity
€68k ▲ 5.5%
Debt
€34k ▲ 12.8%
Debt's share of the balance-sheet total rises from 32.0% to 33.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€27k▼
2024 · €52k
Cash flow
€19k▼
2024 · €38k
Current ratio
2.90▼
2024 · 3.04
Debt to equity
0.50▲
2024 · 0.47
ROE
24.0%▼
2024 · 55.6%
ROA
16.0%▼
2024 · 37.8%
Interest coverage
428.08▼
2024 · 502.14
Debt ≤ 1 year
€34k▲
2024 · €30k
Income taxes
€9k▼
2024 · €15k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 45 lines
Balance sheet
Code20242025
Assets
Total assets20/58€94k€102k▲
Fixed assets21/28€3k€3k▲
Tangible fixed assets22/27€3k€3k▲
Furniture and vehicles24€3k€3k▲
Current assets29/58€91k€99k▲
Amounts receivable within one year40/41€53k€14k▼
Trade receivables40€48k€10k▼
Other amounts receivable41€5k€4k▼
Cash at bank and in hand54/58€38k€84k▲
Deferred charges and accrued income490/1€46€54▲
Equity and liabilities
Total equity and liabilities10/49€94k€102k▲
Equity10/15€64k€68k▲
Contributions10/11€3k€3k=
Reserves13€61k€65k▲
Distributable reserves133€61k€65k▲
Profit (loss) carried forward14-€0
Amounts payable17/49€30k€34k▲
Amounts payable within one year42/48€30k€34k▲
Financial debts43€0-
Credit institutions430/8€0-
Trade debts44€3k€3k▼
Suppliers440/4€3k€3k▼
Taxes, remuneration and social security45€27k€19k▼
Taxes450/3€27k€19k▼
Remuneration and social security454/9€0-
Other amounts payable47/48€0€13k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€2k▲
Other operating charges640/8€2k€1k▼
Gross operating margin9900€54k€29k▼
Operating profit (loss)9901€50k€25k▼
Financial income75/76B€259€354▲
Recurring financial income75€259€354▲
Financial charges65/66B€104€64▼
Recurring financial charges65€104€64▼
Profit (loss) for the period before taxes9903€50k€25k▼
Income taxes67/77€15k€9k▼
Profit (loss) for the period9904€36k€16k▼
Profit (loss) for the period to be appropriated9905€36k€16k▼
Appropriation of the result
Profit (loss) to be appropriated9906€36k€16k▼
Transfer from equity791/2-€13k
Transfer to equity691/2€36k€16k▼
To the legal reserve6920€36k€0▼
To other reserves6921-€16k
Profit to be distributed694/7-€13k
Return on contributions (dividend)694-€13k
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Turnover70 | €107k | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €98k | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €138 | €2k | €2k | €2k | ▲ 1.4% |
| Other operating charges640/8 | €2k | €1k | €2k | €1k | ▼ 9.1% |
| Gross operating margin9900 | €22k | €24k | €54k | €29k | ▼ 46.8% |
| Operating profit (loss)9901 | €20k | €20k | €50k | €25k | ▼ 50.4% |
| Financial income75/76B | €36 | €1 | €259 | €354 | ▲ 36.7% |
| Recurring financial income75 | €36 | €1 | €259 | €354 | ▲ 36.7% |
| Financial charges65/66B | €37 | €196 | €104 | €64 | ▼ 39.0% |
| Recurring financial charges65 | €37 | €196 | €104 | €64 | ▼ 39.0% |
| Profit (loss) for the period before taxes9903 | €20k | €20k | €50k | €25k | ▼ 49.9% |
| Income taxes67/77 | €7k | €7k | €15k | €9k | ▼ 38.9% |
| Profit (loss) for the period9904 | €13k | €13k | €36k | €16k | ▼ 54.5% |
| Profit (loss) for the period to be appropriated9905 | €13k | €13k | €36k | €16k | ▼ 54.5% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €61k | €67k | €94k | €102k | ▲ 7.9% |
| Fixed assets21/28 | €1k | €5k | €3k | €3k | ▲ 8.6% |
| Tangible fixed assets22/27 | €1k | €5k | €3k | €3k | ▲ 8.6% |
| Furniture and vehicles24 | €1k | €5k | €3k | €3k | ▲ 8.6% |
| Current assets29/58 | €60k | €62k | €91k | €99k | ▲ 7.8% |
| Amounts receivable within one year40/41 | €8k | €23k | €53k | €14k | ▼ 72.9% |
| Trade receivables40 | €8k | €23k | €48k | €10k | ▼ 78.5% |
| Other amounts receivable41 | €80 | €0 | €5k | €4k | ▼ 22.9% |
| Cash at bank and in hand54/58 | €52k | €39k | €38k | €84k | ▲ 119% |
| Deferred charges and accrued income490/1 | €299 | €180 | €46 | €54 | ▲ 16.5% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €61k | €67k | €94k | €102k | ▲ 7.9% |
| Equity10/15 | €16k | €28k | €64k | €68k | ▲ 5.5% |
| Contributions10/11 | €3k | €3k | €3k | €3k | = |
| Reserves13 | €13k | €25k | €61k | €65k | ▲ 5.8% |
| Distributable reserves133 | €13k | €25k | €61k | €65k | ▲ 5.8% |
| Profit (loss) carried forward14 | - | - | - | €0 | - |
| Amounts payable17/49 | €46k | €39k | €30k | €34k | ▲ 12.8% |
| Amounts payable within one year42/48 | €46k | €39k | €30k | €34k | ▲ 12.8% |
| Financial debts43 | €0 | €767 | €0 | - | - |
| Credit institutions430/8 | - | €767 | €0 | - | - |
| Other loans439 | €0 | - | - | - | - |
| Trade debts44 | €17k | €4k | €3k | €3k | ▼ 5.9% |
| Suppliers440/4 | €17k | €4k | €3k | €3k | ▼ 5.9% |
| Taxes, remuneration and social security45 | €29k | €18k | €27k | €19k | ▼ 31.8% |
| Taxes450/3 | €25k | €16k | €27k | €19k | ▼ 31.8% |
| Remuneration and social security454/9 | €4k | €2k | €0 | - | - |
| Other amounts payable47/48 | €0 | €16k | €0 | €13k | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13k | €13k | €36k | €16k | ▼ 54.5% |
| + Depreciation and write-downs630 | €138 | €2k | €2k | €2k | ▲ 1.4% |
| Operating cash flow (approximation) | €13k | €15k | €38k | €19k | ▼ 50.9% |
| Investment in fixed assets (approximation) | - | €-6k | €0 | €-3k | - |
| Change in cash | - | €-12k | €-1k | €46k | ▲ 4,622% |
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 2026, expected by
2026
05-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 5 days late
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
31-12
Financial
Highest result since 2022net €36k ▲178%
Operating result €50k, net result €36k, both a record.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Elsene · 1 establishment unit since 2022
Ground area
2,703 m²
Building footprint
423 m²
Volume, LiDAR
3,942 m³
2 parcels, Brussels · tallest building 28.0 m, ±5 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
HERSCO GROUP
since 20222.331.578.508
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21614H0056/02A056 | Brussels | 2,560 m² | 1 · 326 m² | 16.7 m · 3 fl. |
| 21447B0313/00S004 | Brussels | 143 m² | 1 · 98 m² | 28.0 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 29,779 companies in sector 41001 we hold annual accounts for 16,044. 13,227 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded02-02-2022
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
41002Construction of residential and non-residential buildings
41003General construction of other non-residential buildings
Contact
E-mail
gary.herscovici@gmail.com
Scores and ratios are computed by Checked and are not a credit decision.