HERVAC
ActiveSummary
HERVAC has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €962k and a net result of €-13k. Equity is growing by ~11.3% per year across the filed fiscal years. Its solvency ranks better than 25% of 2015 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability58▼-13
Solvency47▲+4
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity tight (current ratio 1.23 against 1.15 in 2024; short-term debt: 72.3% and cash: 13.9% of total assets), and 77.5% 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
22.5%
Return on assets
-0.3%
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 31-08-2026, 31 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 · 7 filingsDeviation from the deadline
2025
31 d late
2024
17 d early
2023
12 d late
2022
28 d early
2021
22 d late
2020
23 d late
2019
8 d early
← 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, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-13k
2024 · €86k
2021: €135k
2022: €455k▲ +238% vs 2021highest in 5 years
2023: €111k▼ -75.7% vs 2022
2024: €86k▼ -22.1% vs 2023
2025: €-13k▼ -115% vs 2024lowest in 5 years
2021 → 2025
Working capital
€722k▲ 16.7%
2024 · €618k
2021: €295klowest in 5 years
2022: €345k▲ +16.8% vs 2021
2023: €554k▲ +60.4% vs 2022
2024: €618k▲ +11.7% vs 2023
2025: €722k▲ +16.7% vs 2024highest in 5 years
2021 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€553k-€778k▲ 40.8%€889k▲ 14.2%€975k▲ 9.7%€962k▼ 1.3%
2021: €553klowest in 5 years
2022: €778k▲ +40.8% vs 2021
2023: €889k▲ +14.2% vs 2022
2024: €975k▲ +9.7% vs 2023highest in 5 years
2025: €962k▼ -1.3% vs 2024
Operating result€217k-€632k▲ 191%€198k▼ 68.7%€177k▼ 10.5%€44k▼ 74.9%
2021: €217k
2022: €632k▲ +191% vs 2021highest in 5 years
2023: €198k▼ -68.7% vs 2022
2024: €177k▼ -10.5% vs 2023
2025: €44k▼ -74.9% vs 2024lowest in 5 years
Net result€135k-€455k▲ 238%€111k▼ 75.7%€86k▼ 22.1%€-13k
2021: €135k
2022: €455k▲ +238% vs 2021highest in 5 years
2023: €111k▼ -75.7% vs 2022
2024: €86k▼ -22.1% vs 2023
2025: €-13k▼ -115% vs 2024lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 75% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.28M
Fixed assets
€464k ▼ 22.1%
Current assets
€3.82M ▼ 20.8%
Equity and liabilities €4.28M
Equity
€962k ▼ 1.3%
Provisions
€11k ▼ 39.3%
Debt
€3.31M ▼ 25.1%
Debt's share of the balance-sheet total falls from 81.7% to 77.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€250k▼
2024 · €400k
Cash flow
€192k▼
2024 · €310k
Current ratio
1.23▲
2024 · 1.15
Quick ratio
0.92▲
2024 · 0.79
Debt to equity
3.44▼
2024 · 4.53
ROE
-1.3%▼
2024 · 8.8%
ROA
-0.3%▼
2024 · 1.6%
Interest coverage
4.73▼
2024 · 12.10
Debt ≤ 1 year
€3.10M▼
2024 · €4.20M
Debt > 1 year
€212k▼
2024 · €220k
Income taxes
€6k▼
2024 · €62k
Staff costs
€1.83M▲
2024 · €1.56M
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 · 64 lines
Balance sheet
Code20242025
Assets
Total assets20/58€5.42M€4.28M▼
Fixed assets21/28€595k€464k▼
Intangible fixed assets21€57k€29k▼
Tangible fixed assets22/27€521k€412k▼
Land and buildings22€0-
Plant, machinery and equipment23€36k€23k▼
Furniture and vehicles24€104k€100k▼
Leasing and similar rights25€263k€140k▼
Other tangible fixed assets26€118k€148k▲
Financial fixed assets28€17k€23k▲
Current assets29/58€4.82M€3.82M▼
Stocks and contracts in progress3€1.51M€982k▼
Stocks30/36€628k€719k▲
Contracts in progress37€881k€263k▼
Amounts receivable within one year40/41€3.10M€2.24M▼
Trade receivables40€2.90M€2.12M▼
Other amounts receivable41€198k€126k▼
Current investments50/53€0-
Cash at bank and in hand54/58€217k€595k▲
Equity and liabilities
Total equity and liabilities10/49€5.42M€4.28M▼
Equity10/15€975k€962k▼
Contributions10/11€58k€58k=
Reserves13€5k€5k=
Non-distributable reserves130/1€5k€5k=
Reserves not available under the articles1311€5k€5k=
Profit (loss) carried forward14€913k€900k▼
Provisions and deferred taxes16€18k€11k▼
Provisions for liabilities and charges160/5€18k€11k▼
Other liabilities and charges164/5€18k€11k▼
Amounts payable17/49€4.42M€3.31M▼
Amounts payable after more than one year17€220k€212k▼
Financial debts170/4€220k€212k▼
Amounts payable within one year42/48€4.20M€3.10M▼
Current portion of amounts payable after more than one year42€110k€133k▲
Financial debts43€344k€445k▲
Credit institutions430/8€336k€445k▲
Other loans439€8k€0▼
Trade debts44€3.16M€1.99M▼
Suppliers440/4€3.16M€1.99M▼
Advances received on contracts in progress46€386k€295k▼
Taxes, remuneration and social security45€197k€232k▲
Taxes450/3€21k€24k▲
Remuneration and social security454/9€176k€208k▲
Other amounts payable47/48€0-
Income statement
Code20242025
Non-recurring operating income76A€8k€24k▲
Remuneration, social security and pensions62€1.56M€1.83M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€224k€205k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Provisions for liabilities and charges: additions (uses and reversals)635/8€-79k€11k▲
Other operating charges640/8€59k€15k▼
Non-recurring operating charges66A€11k€10k▼
Gross operating margin9900€1.96M€2.11M▲
Operating profit (loss)9901€177k€44k▼
Financial income75/76B€5k€1k▼
Recurring financial income75€5k€1k▼
Financial charges65/66B€33k€53k▲
Recurring financial charges65€33k€53k▲
Profit (loss) for the period before taxes9903€149k€-7k▼
Income taxes67/77€62k€6k▼
Profit (loss) for the period9904€86k€-13k▼
Profit (loss) for the period to be appropriated9905€86k€-13k▼
Appropriation of the result
Profit (loss) to be appropriated9906€913k€900k▼
Profit (loss) brought forward from the previous period14P€826k€913k▲
Social balance
Average headcount (FTE)908719.422.0▲
The notes to these accounts (29 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €8k | €24k | ▲ 224% |
| Remuneration, social security and pensions62 | €1.32M | €1.35M | €1.61M | €1.56M | €1.83M | ▲ 16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €126k | €152k | €208k | €224k | €205k | ▼ 8.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €35k | €0 | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | €98k | €-79k | €11k | ▲ 114% |
| Other operating charges640/8 | €23k | €17k | €15k | €59k | €15k | ▼ 74.0% |
| Non-recurring operating charges66A | - | - | €2k | €11k | €10k | ▼ 9.4% |
| Gross operating margin9900 | €1.68M | €2.16M | €2.16M | €1.96M | €2.11M | ▲ 8.1% |
| Operating profit (loss)9901 | €217k | €632k | €198k | €177k | €44k | ▼ 74.9% |
| Financial income75/76B | €2k | €768 | €9k | €5k | €1k | ▼ 71.3% |
| Recurring financial income75 | €2k | €768 | €9k | €5k | €1k | ▼ 71.3% |
| Financial charges65/66B | €24k | €29k | €33k | €33k | €53k | ▲ 59.3% |
| Recurring financial charges65 | €24k | €29k | €33k | €33k | €53k | ▲ 59.3% |
| Profit (loss) for the period before taxes9903 | €195k | €604k | €174k | €149k | €-7k | ▼ 105% |
| Income taxes67/77 | €60k | €149k | €63k | €62k | €6k | ▼ 90.6% |
| Profit (loss) for the period9904 | €135k | €455k | €111k | €86k | €-13k | ▼ 115% |
| Profit (loss) for the period to be appropriated9905 | €135k | €455k | €111k | €86k | €-13k | ▼ 115% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.44M | €10.85M | €10.49M | €5.42M | €4.28M | ▼ 20.9% |
| Fixed assets21/28 | €431k | €633k | €651k | €595k | €464k | ▼ 22.1% |
| Intangible fixed assets21 | €100k | €96k | €83k | €57k | €29k | ▼ 49.2% |
| Tangible fixed assets22/27 | €317k | €520k | €554k | €521k | €412k | ▼ 21.0% |
| Land and buildings22 | - | €123k | €132k | €0 | - | - |
| Plant, machinery and equipment23 | €41k | €50k | €52k | €36k | €23k | ▼ 34.3% |
| Furniture and vehicles24 | €142k | €194k | €145k | €104k | €100k | ▼ 4.2% |
| Leasing and similar rights25 | €133k | €152k | €226k | €263k | €140k | ▼ 46.8% |
| Other tangible fixed assets26 | - | - | - | €118k | €148k | ▲ 25.8% |
| Financial fixed assets28 | €14k | €17k | €14k | €17k | €23k | ▲ 33.4% |
| Current assets29/58 | €5.01M | €10.22M | €9.83M | €4.82M | €3.82M | ▼ 20.8% |
| Stocks and contracts in progress3 | €539k | €549k | €584k | €1.51M | €982k | ▼ 34.9% |
| Stocks30/36 | €539k | €549k | €584k | €628k | €719k | ▲ 14.6% |
| Contracts in progress37 | - | - | - | €881k | €263k | ▼ 70.1% |
| Amounts receivable within one year40/41 | €3.14M | €7.25M | €8.88M | €3.10M | €2.24M | ▼ 27.6% |
| Trade receivables40 | €3.00M | €7.04M | €8.64M | €2.90M | €2.12M | ▼ 26.9% |
| Other amounts receivable41 | €146k | €206k | €234k | €198k | €126k | ▼ 36.8% |
| Current investments50/53 | - | - | €98k | €0 | - | - |
| Cash at bank and in hand54/58 | €1.33M | €2.42M | €275k | €217k | €595k | ▲ 175% |
| Deferred charges and accrued income490/1 | €496 | €1k | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.44M | €10.85M | €10.49M | €5.42M | €4.28M | ▼ 20.9% |
| Equity10/15 | €553k | €778k | €889k | €975k | €962k | ▼ 1.3% |
| Contributions10/11 | €58k | €58k | €58k | €58k | €58k | = |
| Reserves13 | €5k | €5k | €5k | €5k | €5k | = |
| Non-distributable reserves130/1 | €5k | €5k | €5k | €5k | €5k | = |
| Reserves not available under the articles1311 | €5k | €5k | €5k | €5k | €5k | = |
| Profit (loss) carried forward14 | €490k | €716k | €826k | €913k | €900k | ▼ 1.4% |
| Provisions and deferred taxes16 | - | - | €98k | €18k | €11k | ▼ 39.3% |
| Provisions for liabilities and charges160/5 | - | - | €98k | €18k | €11k | ▼ 39.3% |
| Other liabilities and charges164/5 | - | - | €98k | €18k | €11k | ▼ 39.3% |
| Amounts payable17/49 | €4.89M | €10.07M | €9.50M | €4.42M | €3.31M | ▼ 25.1% |
| Amounts payable after more than one year17 | €174k | €200k | €218k | €220k | €212k | ▼ 3.7% |
| Financial debts170/4 | €174k | €200k | €218k | €220k | €212k | ▼ 3.7% |
| Amounts payable within one year42/48 | €4.71M | €9.87M | €9.28M | €4.20M | €3.10M | ▼ 26.3% |
| Current portion of amounts payable after more than one year42 | €104k | €113k | €113k | €110k | €133k | ▲ 20.6% |
| Financial debts43 | - | - | - | €344k | €445k | ▲ 29.2% |
| Credit institutions430/8 | - | - | - | €336k | €445k | ▲ 32.3% |
| Other loans439 | - | - | - | €8k | €0 | ▼ 100% |
| Trade debts44 | €1.65M | €3.21M | €3.45M | €3.16M | €1.99M | ▼ 37.0% |
| Suppliers440/4 | €1.65M | €3.21M | €3.45M | €3.16M | €1.99M | ▼ 37.0% |
| Advances received on contracts in progress46 | €2.74M | €6.16M | €5.56M | €386k | €295k | ▼ 23.7% |
| Taxes, remuneration and social security45 | €163k | €170k | €150k | €197k | €232k | ▲ 17.6% |
| Taxes450/3 | €33k | €32k | - | €21k | €24k | ▲ 14.0% |
| Remuneration and social security454/9 | €130k | €138k | €150k | €176k | €208k | ▲ 18.0% |
| Other amounts payable47/48 | €58k | €216k | €735 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €135k | €455k | €111k | €86k | €-13k | ▼ 115% |
| + Depreciation and write-downs630 | €126k | €152k | €208k | €224k | €205k | ▼ 8.2% |
| Operating cash flow (approximation) | €260k | €607k | €319k | €310k | €192k | ▼ 37.9% |
| Investment in fixed assets (approximation) | - | €-354k | €-226k | €-167k | €-74k | ▲ 55.7% |
| Change in cash | - | €1.09M | €-2.14M | €-58k | €379k | ▲ 749% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet €-13k
Net result drops to €-13k, the lowest in the series.
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
12-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 12 days late
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2021net €455k ▲238%
Operating result €632k, net result €455k, both a record.
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 22 days late
2021
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 23 days late
2020
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Financial milestoneNBB 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, Somme-Leuze · 1 establishment unit since 2018
Ground area
2,244 m²
Building footprint
1,224 m²
Parcel 91010B0133/00A003, Wallonia. Linked by address, not a title deed.
1 establishment unit
HERVAC
since 20182.276.121.430
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 91010B0133/00A003 | Wallonia | 2,244 m² | 1 · 1,224 m² | - |
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.
Recognitions · licences · registrations
Recognised contractor
3 categoriesHERVAC SRL44180
Legal Entity Identifier
8755006ICPDY4GCOB981
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Of 11,546 companies in sector 71121 we hold annual accounts for 6,561. 3,483 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
Founded24-05-2018
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
71121Engineering and related technical consultancy, excluding land surveyors
28250Manufacture of machinery and equipment not elsewhere classified
43230Insulation installation
47540Retail sale of electrical household appliances
47552Retail sale of lighting equipment
Scores and ratios are computed by Checked and are not a credit decision.