HEVA ENGINEERING
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 23-06-2026 at the NBB all 17 filings
Turnover
≈ €590,000
Estimated: probably between €460,000 and €990,000
Total assets
€1.2m▲ 7.5%
2024 · €1.1m
Net result
€247,667▼ 27.9%
2024 · €343,695
Working capital
€993,790▲ 22.5%
2024 · €811,182
In the rankings
#10 company by equity in Poperinge, Real estate sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€332,294
▼ 28.3%
2025
20182025
Net result
€247,667
▼ 27.9%
2025
highest quarter of the sector
20182025
Equity
€1.1m
▲ 19.1%
2025
highest quarter of the sector
20182025
Total assets
€1.2m
▲ 7.5%
2025
highest quarter of the sector
20182025
Debt
€101,793
▼ 47.9%
2025
20182025
Working capital
€993,790
▲ 22.5%
2025
highest quarter of the sector
20182025
Solvency
91.6%
▲ 8.9pp
2025
highest quarter of the sector
20182025
Current ratio
10.76
▲ 5.61
2025
highest quarter of the sector
20182025
Return on assets (ROA)
20.4%
▼ 10.0pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.09m-€0.08m▼ 4.5%€0.1m▲ 20.1%€0.2m▲ 95.3%€0.1m▼ 33.3%€0.2m▲ 46.5%€0.5m▲ 145%€0.3m▼ 28.3%
Net result€0.06m-€0.06m▲ 8.6%€0.07mabove the sector's middle half▲ 13.8%€0.1mabove the sector's middle half▲ 106%€0.05mabove the sector's middle half▼ 61.9%€0.2mabove the sector's middle half▲ 213%€0.3mabove the sector's middle half▲ 103%€0.2mabove the sector's middle half▼ 27.9%
Equity€0.5m-€0.6m▲ 12.4%€0.5mabove the sector's middle half▼ 8.1%€0.6mabove the sector's middle half▲ 17.3%€0.6mabove the sector's middle half▲ 0.2%€0.7mabove the sector's middle half▲ 18.1%€0.9mabove the sector's middle half▲ 33.2%€1.1mabove the sector's middle half▲ 19.1%
Total assets€0.5m-€0.6m▲ 5.8%€0.6mwithin the sector's middle half▲ 12.0%€0.7mwithin the sector's middle half▲ 6.4%€0.7mwithin the sector's middle half▼ 0.1%€0.8mwithin the sector's middle half▲ 14.8%€1.1mabove the sector's middle half▲ 43.3%€1.2mabove the sector's middle half▲ 7.5%
Debt€0.06m-€0.03m▼ 51.6%€0.1m▲ 419%€0.09m▼ 32.9%€0.09m▼ 1.7%€0.09m▼ 6.4%€0.2m▲ 125%€0.1m▼ 47.9%
Working capital€0.4m-€0.5m▲ 15.6%€0.4mabove the sector's middle half▼ 9.4%€0.5mabove the sector's middle half▲ 21.4%€0.4mabove the sector's middle half▼ 16.2%€0.6mabove the sector's middle half▲ 38.1%€0.8mabove the sector's middle half▲ 41.3%€1.0mabove the sector's middle half▲ 22.5%
Solvency89.8%-95.3%▲ 5.6pp78.3%above the sector's middle half▼ 17.0pp86.3%above the sector's middle half▲ 8.0pp86.5%above the sector's middle half▲ 0.2pp89.0%above the sector's middle half▲ 2.5pp82.7%above the sector's middle half▼ 6.3pp91.6%above the sector's middle half▲ 8.9pp
Current ratio7.97-17.65▲ 9.693.95above the sector's middle half▼ 13.716.26above the sector's middle half▲ 2.315.48above the sector's middle half▼ 0.777.62above the sector's middle half▲ 2.135.15above the sector's middle half▼ 2.4710.76above the sector's middle half▲ 5.61
Return on assets (ROA)10.2%-10.5%▲ 0.3pp10.7%above the sector's middle half▲ 0.2pp20.6%above the sector's middle half▲ 9.9pp7.9%within the sector's middle half▼ 12.8pp21.5%above the sector's middle half▲ 13.6pp30.4%above the sector's middle half▲ 8.9pp20.4%above the sector's middle half▼ 10.0pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 28% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.2m
Fixed assets
€121,132 ▼ 3.2%
Current assets
€1.1m ▲ 8.8%
Equity and liabilities €1.2m
Equity
€1.1m ▲ 19.1%
Debt
€101,793 ▼ 47.9%
Debt's share of the balance-sheet total falls from 17.3% to 8.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€336,318▼
2024 · €467,744
Cash flow
€251,691▼
2024 · €347,719
Debt to equity
0.09▼
2024 · 0.21
ROE
22.2%▼
2024 · 36.7%
Interest coverage
43.53▲
2024 · -46.60
Debt ≤ 1 year
€101,793▼
2024 · €195,424
Income taxes
€103,448▼
2024 · €161,114
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €85,567 | - | - | - |
| Depreciation and write-downs of the year | €1,521 | €4,106 | €4,024 | €4,024 | €4,024 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €2,715 | - | €4,794 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €954 | €304 | - | €1,521 | €4,106 | €4,024 | €4,024 | €4,024 | = |
| Other operating charges640/8 | - | - | - | €459 | €10,546 | €1,529 | €513 | €528 | ▲ 2.8% |
| Gross operating margin9900 | €87,802 | €83,282 | €99,480 | €195,422 | €143,725 | €194,640 | €468,258 | €336,846 | ▼ 28.1% |
| Operating profit (loss)9901 | €86,342 | €82,466 | €99,024 | €193,443 | €129,073 | €189,087 | €463,721 | €332,294 | ▼ 28.3% |
| Financial income75/76B | - | - | - | €4,331 | €8,229 | €5,809 | €31,051 | €26,547 | ▼ 14.5% |
| Recurring financial income75 | €5,454 | €2,240 | €1,901 | €4,331 | €8,229 | €5,809 | €31,051 | €26,547 | ▼ 14.5% |
| Financial charges65/66B | - | - | - | -€2,796 | €53,899 | -€38,308 | -€10,038 | €7,727 | - |
| Recurring financial charges65 | €10,885 | -€4,727 | €5,249 | -€2,796 | €53,899 | -€38,308 | -€10,038 | €7,727 | - |
| Profit (loss) for the period before taxes9903 | €80,911 | €89,433 | €95,676 | €200,570 | €83,403 | €233,203 | €504,809 | €351,115 | ▼ 30.4% |
| Income taxes67/77 | €25,021 | €28,749 | €26,594 | €58,565 | €29,318 | €63,752 | €161,114 | €103,448 | ▼ 35.8% |
| Profit (loss) for the period9904 | €55,889 | €60,684 | €69,082 | €142,004 | €54,085 | €169,451 | €343,695 | €247,667 | ▼ 27.9% |
| Profit (loss) for the period to be appropriated9905 | €61,788 | €110,547 | €69,082 | €142,004 | €54,085 | €169,451 | €343,695 | €247,667 | ▼ 27.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.5m | €0.6m | €0.6m | €0.7m | €0.7m | €0.8m | €1.1m | €1.2m | ▲ 7.5% |
| Fixed assets21/28 | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | €0.1m | €0.1m | €0.1m | ▼ 3.2% |
| Tangible fixed assets22/27 | €0.06m | €0.06m | €0.06m | €0.06m | €0.1m | €0.09m | €0.09m | €0.08m | ▼ 4.6% |
| Land and buildings22 | - | - | - | €0.06m | €0.1m | €0.09m | €0.09m | €0.08m | ▼ 2.9% |
| Furniture and vehicles24 | - | - | - | €0.006m | €0.005m | €0.003m | €0.002m | €0 | ▼ 100% |
| Financial fixed assets28 | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Current assets29/58 | €0.4m | €0.5m | €0.5m | €0.6m | €0.5m | €0.7m | €1.0m | €1.1m | ▲ 8.8% |
| Amounts receivable within one year40/41 | €0.06m | €0.09m | €0.04m | €0.02m | €0.03m | €0.02m | €0.3m | €0.2m | ▼ 18.9% |
| Trade receivables40 | - | - | - | €0.02m | €0.02m | €0.02m | €0.3m | €0.2m | ▼ 29.1% |
| Other amounts receivable41 | - | - | - | €10 | €0.01m | €204 | €207 | €0.03m | ▲ 132× |
| Current investments50/53 | €0.08m | €0.09m | €0.3m | €0.4m | €0.4m | €0.5m | €0.7m | €0.7m | ▲ 6.2% |
| Cash at bank and in hand54/58 | €0.3m | €0.3m | €0.2m | €0.1m | €0.08m | €0.2m | €0.07m | €0.2m | ▲ 141% |
| Deferred charges and accrued income490/1 | - | - | - | €356 | €266 | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.5m | €0.6m | €0.6m | €0.7m | €0.7m | €0.8m | €1.1m | €1.2m | ▲ 7.5% |
| Equity10/15 | €0.5m | €0.6m | €0.5m | €0.6m | €0.6m | €0.7m | €0.9m | €1.1m | ▲ 19.1% |
| Contributions10/11 | €0.01m | €0.01m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.3m | €0.4m | €0.4m | €0.4m | €0.4m | €0.5m | €0.8m | €1.0m | ▲ 22.9% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Distributable reserves133 | - | - | - | €0.4m | €0.4m | €0.5m | €0.8m | €1.0m | ▲ 22.9% |
| Profit (loss) carried forward14 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Amounts payable17/49 | €0.06m | €0.03m | €0.1m | €0.09m | €0.09m | €0.09m | €0.2m | €0.1m | ▼ 47.9% |
| Amounts payable within one year42/48 | €0.06m | €0.03m | €0.1m | €0.09m | €0.09m | €0.09m | €0.2m | €0.1m | ▼ 47.9% |
| Trade debts44 | €0.007m | €0.008m | €0.006m | €0.006m | €0.005m | €0.001m | €0.001m | €161 | ▼ 70.2% |
| Suppliers440/4 | - | - | - | €0.006m | €0.005m | €0.001m | €0.001m | €161 | ▼ 70.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.03m | €0.04m | €0.07m | €0.09m | €0.04m | ▼ 59.1% |
| Taxes450/3 | - | - | - | €0.03m | €0.04m | €0.07m | €0.08m | €0.03m | ▼ 61.6% |
| Remuneration and social security454/9 | - | - | - | - | - | - | €0.004m | €0.004m | ▲ 0.5% |
| Other amounts payable47/48 | - | - | - | €0.06m | €0.05m | €0.02m | €0.1m | €0.07m | ▼ 38.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €55,889 | €60,684 | €69,082 | €142,004 | €54,085 | €169,451 | €343,695 | €247,667 | ▼ 27.9% |
| + Depreciation and write-downs630 | €954 | €304 | - | €1,521 | €4,106 | €4,024 | €4,024 | €4,024 | = |
| Operating cash flow (approximation) | €56,844 | €60,987 | €69,082 | €143,525 | €58,191 | €173,475 | €347,719 | €251,691 | ▼ 27.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€85,567 | €46,577 | €0 | €0 | - |
| Change in cash | - | -€14,347 | -€74,451 | -€94,472 | -€41,150 | €75,502 | -€84,883 | €97,643 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 17,811 companies had the same profile as HEVA ENGINEERING has now. Two years later, 96.5% were still going and 0.3% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.5%
was still going
3.1%
stopped otherwise
0.3%
went bankrupt
That fits the bankruptcy probability of HEVA ENGINEERING itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 17,811 companies, not a prediction for HEVA ENGINEERING. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 23-06-2026 | 2026-00186088 | |
| 31-12-2024 | micro format | 07-07-2025 | 2025-00246374 | |
| 31-12-2023 | micro format | 11-07-2024 | 2024-00239383 | |
| 31-12-2022 | micro format | 06-07-2023 | 2023-00216703 | |
| 31-12-2021 | micro format | 30-06-2022 | 2022-20128732 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-60200320 | |
| 31-12-2019 | micro format | 23-07-2020 | 2020-33000236 | |
| 31-12-2018 | micro format | 05-07-2019 | 2019-29200592 | |
| 31-12-2017 | micro format | 24-07-2018 | 2018-36800599 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-54600448 |