HESC
ActiveSummary
HESC has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €122,410 and a net result of €27,732. Equity is growing by ~4.9% per year across the filed fiscal years. Its solvency ranks better than 95% of 31896 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability97▲+82
Solvency100=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
short-term debt: 0.9% and cash: 41.3% of total assets, and 1.7% of the assets are financed with debt.
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Signals
Four 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
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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
98.3%
Return on assets
22.3%
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 10-06-2026, 51 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
51 d early
2024
20 d late
2023
7 d late
2022
6 d early
2021
6 d early
2020
5 d early
2019
21 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 9 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€122,410▲ 29.3%
2024 · €94,678
Total assets
€124,523▲ 22.8%
2024 · €101,397
Net result
€27,732
2024 · -€3,194
Working capital
€122,976▲ 31.0%
2024 · €93,897
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€332▼ 97.6%€8,667▲ 2,513%€34,912▲ 303%-€3,536€9,074
Net result-€2,195€4,689€22,391▲ 378%-€3,194€27,732
Equity€82,645▼ 2.6%€84,080▲ 1.7%€97,871▲ 16.4%€94,678▼ 3.3%€122,410▲ 29.3%
Total assets€105,276▼ 6.4%€99,218▼ 5.8%€112,224▲ 13.1%€101,397▼ 9.6%€124,523▲ 22.8%
Debt€22,632▼ 18.2%€15,138▼ 33.1%€14,353▼ 5.2%€6,720▼ 53.2%€2,113▼ 68.6%
Working capital€79,100▼ 0.8%€81,722▲ 3.3%€96,358▲ 17.9%€93,897▼ 2.6%€122,976▲ 31.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €9,074 after a loss of €3,536 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €124,523
Fixed assets
€371 ▼ 52.5%
Current assets
€124,152 ▲ 23.4%
Equity and liabilities €124,523
Equity
€122,410 ▲ 29.3%
Debt
€2,113 ▼ 68.6%
Debt's share of the balance-sheet total falls from 6.6% to 1.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€9,484▲
2024 · -€2,803
Cash flow
€28,142▲
2024 · -€2,460
Debt to equity
0.02▼
2024 · 0.07
ROE
22.7%▲
2024 · -3.4%
ROA
22.3%▲
2024 · -3.1%
Interest coverage
17.11▲
2024 · -15.39
Debt ≤ 1 year
€1,177▼
2024 · €6,720
Income taxes
€13,205▲
2024 · €1,254
A ratio outside any meaningful range has been withheld (balance sheet total €124,523, equity €122,410).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,324 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,544 | €1,187 | €845 | €733 | €410 | ▼ 44.1% |
| Other operating charges640/8 | €1,660 | €1,779 | €1,256 | €1,259 | €585 | ▼ 53.5% |
| Gross operating margin9900 | €3,536 | €11,632 | €37,012 | -€1,544 | €10,070 | ▲ 752% |
| Operating profit (loss)9901 | €332 | €8,667 | €34,912 | -€3,536 | €9,074 | ▲ 357% |
| Financial income75/76B | €630 | €1,544 | €1,289 | €1,779 | €32,417 | ▲ 1,722% |
| Recurring financial income75 | €630 | €1,544 | €1,289 | €1,779 | €32,417 | ▲ 1,722% |
| Financial charges65/66B | €226 | €178 | €151 | €182 | €554 | ▲ 204% |
| Recurring financial charges65 | €226 | €178 | €151 | €182 | €554 | ▲ 204% |
| Profit (loss) for the period before taxes9903 | €736 | €10,033 | €36,049 | -€1,939 | €40,937 | ▲ 2,211% |
| Income taxes67/77 | €2,931 | €5,344 | €13,658 | €1,254 | €13,205 | ▲ 953% |
| Profit (loss) for the period9904 | -€2,195 | €4,689 | €22,391 | -€3,194 | €27,732 | ▲ 968% |
| Profit (loss) for the period to be appropriated9905 | -€2,195 | €4,689 | €22,391 | -€3,194 | €27,732 | ▲ 968% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €105,276 | €99,218 | €112,224 | €101,397 | €124,523 | ▲ 22.8% |
| Formation expenses20 | - | - | - | €0 | €0 | - |
| Fixed assets21/28 | €3,545 | €2,358 | €1,513 | €780 | €371 | ▼ 52.5% |
| Tangible fixed assets22/27 | €3,545 | €2,358 | €1,513 | €780 | €371 | ▼ 52.5% |
| Plant, machinery and equipment23 | €342 | - | - | - | - | - |
| Furniture and vehicles24 | €2,091 | €1,432 | €772 | €224 | €0 | ▼ 100% |
| Other tangible fixed assets26 | €1,112 | €927 | €741 | €556 | €371 | ▼ 33.3% |
| Current assets29/58 | €101,731 | €96,859 | €110,711 | €100,617 | €124,152 | ▲ 23.4% |
| Amounts receivable within one year40/41 | €11,006 | €21,680 | €20,966 | €6,432 | €67,315 | ▲ 947% |
| Trade receivables40 | €10,748 | €18,661 | €20,238 | €5,124 | €2,433 | ▼ 52.5% |
| Other amounts receivable41 | €258 | €3,018 | €729 | €1,308 | €64,882 | ▲ 4,861% |
| Current investments50/53 | €71,899 | €71,899 | €71,899 | €71,899 | - | - |
| Cash at bank and in hand54/58 | €14,868 | €903 | €15,340 | €21,905 | €51,388 | ▲ 135% |
| Deferred charges and accrued income490/1 | €3,957 | €2,378 | €2,505 | €381 | €5,449 | ▲ 1,331% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €105,276 | €99,218 | €112,224 | €101,397 | €124,523 | ▲ 22.8% |
| Equity10/15 | €82,645 | €84,080 | €97,871 | €94,678 | €122,410 | ▲ 29.3% |
| Contributions10/11 | €6,800 | €6,800 | €6,800 | €6,800 | €6,800 | = |
| Reserves13 | €75,845 | €77,280 | €91,071 | €87,966 | €115,610 | ▲ 31.4% |
| Non-distributable reserves130/1 | €2,000 | €2,000 | - | - | - | - |
| Reserves not available under the articles1311 | €2,000 | €2,000 | - | - | - | - |
| Distributable reserves133 | €73,845 | €75,280 | €91,071 | €87,966 | €115,610 | ▲ 31.4% |
| Profit (loss) carried forward14 | - | - | - | -€89 | - | - |
| Amounts payable17/49 | €22,632 | €15,138 | €14,353 | €6,720 | €2,113 | ▼ 68.6% |
| Amounts payable within one year42/48 | €22,632 | €15,138 | €14,353 | €6,720 | €1,177 | ▼ 82.5% |
| Trade debts44 | €1,778 | €797 | €1,719 | €281 | €1,023 | ▲ 264% |
| Suppliers440/4 | €1,778 | €797 | €1,719 | €281 | €1,023 | ▲ 264% |
| Taxes, remuneration and social security45 | €16,188 | €14,340 | €2,606 | €24 | €154 | ▲ 537% |
| Taxes450/3 | €16,188 | €14,340 | €2,606 | €24 | €154 | ▲ 537% |
| Other amounts payable47/48 | €4,665 | - | €10,028 | €6,414 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €936 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,195 | €4,689 | €22,391 | -€3,194 | €27,732 | ▲ 968% |
| + Depreciation and write-downs630 | €1,544 | €1,187 | €845 | €733 | €410 | ▼ 44.1% |
| Operating cash flow (approximation) | -€651 | €5,876 | €23,236 | -€2,460 | €28,142 | ▲ 1,244% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€13,966 | €14,437 | €6,565 | €29,483 | ▲ 349% |
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
10-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €27,732
Net result €27,732 after one loss-making year.
31-12
Financial
Liquidity times 7current ratio 105.51
Current ratio from 14.97 to 105.51; short-term debt falls from €6,720 to €1,177.
31-12
Financial
Equity above €100,000Eq €122,410 ▲29.3%
Equity rises from €94,678 to €122,410.
20-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 20 days late
2024
31-12
Financial
Weakest financial yearnet -€3,194
Net result drops to -€3,194, the lowest in the series; recovery starts the following year.
07-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 7 days late
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €4,689
Net result €4,689 after one loss-making year.
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
26-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
10-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
08-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
20-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
12-07
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 4 acts read
About the unread acts
We know of 4 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
4 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, Kapellen · 1 establishment unit since 2002
Ground area
3,348 m²
Building footprint
165 m²
Volume, LiDAR
990 m³
Parcel 11902D0108/00G000, Flanders · tallest building 10.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Bonapartelaan 55, 2950 Kapellen
since 20022.100.488.478
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11902D0108/00G000 | Flanders | 3,348 m² | 1 · 165 m² | 10.0 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 40,853 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
Founded19-12-2001
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0476350865
Also
9925:BE0476350865
Registered
16-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.