HESA
ActiveSummary
HESA has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €536k and a net result of €75k. Equity is growing by ~7.5% per year across the filed fiscal years. Its solvency ranks better than 61% of 7838 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability64▲+11
Solvency79▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity tight (current ratio 1.49 against 1.6 in 2024; short-term debt: 43.4% and cash: 15.1% of total assets), and 46.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
53.9%
Return on assets
7.5%
Age of the figures
9 mo
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 07-07-2026, 24 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
24 d early
2024
23 d early
2023
30 d late
2022
22 d late
2021
31 d late
2020
31 d late
2019
35 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
Equity
€536k▲ 16.2%
2024 · €462k
Total assets
€995k▼ 1.1%
2024 · €1.01M
Net result
€75k▲ 129%
2024 · €33k
Working capital
€213k▼ 29.4%
2024 · €302k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€22k▲ 385%€25k▲ 13.6%€92k▲ 267%€75k▼ 18.6%€150k▲ 102%
Net result€6k€9k▲ 54.0%€51k▲ 469%€33k▼ 35.5%€75k▲ 129%
Equity€378k▲ 1.1%€378k=€429k▲ 13.4%€462k▲ 7.6%€536k▲ 16.2%
Total assets€634k▼ 17.2%€937k▲ 47.8%€806k▼ 14.0%€1.01M▲ 24.9%€995k▼ 1.1%
Debt€256k▼ 34.8%€558k▲ 118%€377k▼ 32.5%€545k▲ 44.7%€459k▼ 15.8%
Working capital€246k▼ 4.8%€251k▲ 2.1%€281k▲ 12.0%€302k▲ 7.4%€213k▼ 29.4%
Staff (FTE)4.7▼ 20.3%5.8▲ 23.4%7.8▲ 34.5%7.1▼ 9.0%7.5▲ 5.6%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 102% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €995k
Fixed assets
€351k ▲ 74.9%
Current assets
€644k ▼ 20.0%
Equity and liabilities €995k
Equity
€536k ▲ 16.2%
Debt
€459k ▼ 15.8%
Debt's share of the balance-sheet total falls from 54.1% to 46.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€175k▲
2024 · €92k
Cash flow
€99k▲
2024 · €50k
Current ratio
1.49▼
2024 · 1.60
Quick ratio
1.28▲
2024 · 1.25
Debt to equity
0.86▼
2024 · 1.18
ROE
13.9%▲
2024 · 7.1%
ROA
7.5%▲
2024 · 3.2%
Interest coverage
4.26▲
2024 · 3.68
Debt ≤ 1 year
€431k▼
2024 · €504k
Debt > 1 year
€28k▼
2024 · €41k
Income taxes
€36k▲
2024 · €17k
Staff costs
€514k▲
2024 · €446k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €2k | €3k | €372 | ▼ 87.2% |
| Remuneration, social security and pensions62 | €252k | €293k | €413k | €446k | €514k | ▲ 15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14k | €13k | €12k | €18k | €25k | ▲ 37.9% |
| Other operating charges640/8 | €33k | €17k | €6k | €9k | €7k | ▼ 21.9% |
| Non-recurring operating charges66A | - | - | - | €1k | €2k | ▲ 90.0% |
| Gross operating margin9900 | €320k | €348k | €523k | €548k | €698k | ▲ 27.3% |
| Operating profit (loss)9901 | €22k | €25k | €92k | €75k | €150k | ▲ 102% |
| Financial income75/76B | €1k | €2k | €44 | €480 | €1k | ▲ 204% |
| Recurring financial income75 | €223 | €2k | €44 | €480 | €1k | ▲ 204% |
| Non-recurring financial income76B | €941 | - | - | - | - | - |
| Financial charges65/66B | €17k | €18k | €20k | €25k | €41k | ▲ 63.6% |
| Recurring financial charges65 | €17k | €18k | €20k | €25k | €41k | ▲ 63.6% |
| Profit (loss) for the period before taxes9903 | €6k | €9k | €72k | €50k | €111k | ▲ 122% |
| Income taxes67/77 | €666 | €45 | €21k | €17k | €36k | ▲ 108% |
| Profit (loss) for the period9904 | €6k | €9k | €51k | €33k | €75k | ▲ 129% |
| Profit (loss) for the period to be appropriated9905 | €6k | €9k | €51k | €33k | €75k | ▲ 129% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €634k | €937k | €806k | €1.01M | €995k | ▼ 1.1% |
| Fixed assets21/28 | €133k | €128k | €173k | €201k | €351k | ▲ 74.9% |
| Tangible fixed assets22/27 | €132k | €127k | €172k | €200k | €347k | ▲ 73.2% |
| Land and buildings22 | €128k | €118k | €116k | €115k | €239k | ▲ 109% |
| Plant, machinery and equipment23 | €5k | €9k | €28k | €28k | €26k | ▼ 10.2% |
| Furniture and vehicles24 | - | - | €28k | €57k | €82k | ▲ 43.7% |
| Financial fixed assets28 | €222 | €222 | €222 | €222 | €4k | ▲ 1,579% |
| Current assets29/58 | €501k | €809k | €633k | €806k | €644k | ▼ 20.0% |
| Stocks and contracts in progress3 | €151k | €135k | €163k | €177k | €92k | ▼ 48.2% |
| Stocks30/36 | €151k | €135k | €163k | €177k | €92k | ▼ 48.2% |
| Amounts receivable within one year40/41 | €325k | €439k | €310k | €307k | €392k | ▲ 28.0% |
| Trade receivables40 | €266k | €355k | €263k | €207k | €340k | ▲ 64.8% |
| Other amounts receivable41 | €59k | €84k | €48k | €100k | €52k | ▼ 48.1% |
| Cash at bank and in hand54/58 | €18k | €230k | €154k | €264k | €150k | ▼ 43.4% |
| Deferred charges and accrued income490/1 | €7k | €5k | €6k | €58k | €11k | ▼ 81.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €634k | €937k | €806k | €1.01M | €995k | ▼ 1.1% |
| Equity10/15 | €378k | €378k | €429k | €462k | €536k | ▲ 16.2% |
| Contributions10/11 | €25k | €25k | €25k | €25k | €25k | = |
| Reserves13 | €349k | €349k | €404k | €437k | €511k | ▲ 17.1% |
| Non-distributable reserves130/1 | €3k | €3k | - | - | - | - |
| Reserves not available under the articles1311 | €3k | €3k | - | - | - | - |
| Tax-exempt reserves132 | €15k | €15k | €15k | €15k | €15k | = |
| Distributable reserves133 | €331k | €331k | €389k | €421k | €496k | ▲ 17.7% |
| Profit (loss) carried forward14 | €5k | €5k | - | - | - | - |
| Amounts payable17/49 | €256k | €558k | €377k | €545k | €459k | ▼ 15.8% |
| Amounts payable after more than one year17 | - | - | €24k | €41k | €28k | ▼ 32.1% |
| Financial debts170/4 | - | - | €24k | €41k | €28k | ▼ 32.1% |
| Amounts payable within one year42/48 | €256k | €558k | €352k | €504k | €431k | ▼ 14.5% |
| Current portion of amounts payable after more than one year42 | €27k | - | €6k | €13k | €13k | ▲ 4.1% |
| Trade debts44 | €209k | €520k | €296k | €422k | €343k | ▼ 18.8% |
| Suppliers440/4 | €209k | €520k | €296k | €422k | €343k | ▼ 18.8% |
| Taxes, remuneration and social security45 | €18k | €31k | €48k | €68k | €74k | ▲ 8.3% |
| Taxes450/3 | €1k | €93 | €21k | €38k | €39k | ▲ 1.4% |
| Remuneration and social security454/9 | €17k | €31k | €27k | €30k | €35k | ▲ 17.1% |
| Other amounts payable47/48 | €2k | €8k | €2k | €2k | €2k | ▲ 3.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6k | €9k | €51k | €33k | €75k | ▲ 129% |
| + Depreciation and write-downs630 | €14k | €13k | €12k | €18k | €25k | ▲ 37.9% |
| Operating cash flow (approximation) | €19k | €22k | €63k | €50k | €99k | ▲ 96.6% |
| Investment in fixed assets (approximation) | - | €-7k | €-57k | €-46k | €-175k | ▼ 281% |
| Change in cash | - | €212k | €-76k | €111k | €-115k | ▼ 203% |
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
07-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Equity above €500kEq €536k ▲16.2%
5 profitable years in a row build equity to €536k.
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 22 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Back to profitnet €6k
Net result €6k after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €144k
Net result €144k after one loss-making year.
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 27 days late
2018
08-02
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
04-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated 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, Lebbeke · 1 establishment unit since 2008
Ground area
1,818 m²
Building footprint
558 m²
Volume, LiDAR
3,430 m³
Parcel 42322D0292/00N000, Flanders · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
HESA
since 20082.176.294.968
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42322D0292/00N000 | Flanders | 1,818 m² | 1 · 558 m² | 7.0 m · 2 fl. |
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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 4,631 EUR awarded · 4,379 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,790 EUR | 2,538 EUR |
| 2024 | 1 | 324 EUR | 324 EUR |
| 2023 | 2 | 1,430 EUR | 1,430 EUR |
| 2022 | 1 | 87 EUR | 87 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Stagebonus (stopgezet)
Recognitions · licences · registrations
Recognised contractor
3 categoriesHESA BV34730
Dual-learning approval
2 live approvals · 3 endedSanitaire en verwarmingsinstallaties duaal (so)
Vakman installatietechnieken (vwo)
Show 3 ended approvals
Monteur sanitaire en verwarmingsinstallaties duaal (so)
Monteur centrale verwarming (so)
Sanitair installateur (so)
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Of 7,044 companies in sector 43221 we hold annual accounts for 3,472. 2,272 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
Founded17-03-2004
Fiscal year end31-12
Activities, NACEBEL 2025
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
43211General electrical installation work
Scores and ratios are computed by Checked and are not a credit decision.