Van Hemelen Immo
ActiveVan Hemelen Immo has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €126k and a net result of €-7k. Equity is growing by ~12.4% per year across the filed fiscal years. Its solvency ranks better than 15% of 7930 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
23
/ 100
Critical▲ +21 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency5=
Growth52=
Stability100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.47 against 0.48 in 2024), and 92.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€7k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 7930 sector peers (2025).
NBB · sector comparisonPosition among 7930 sector peers
Solvency
better than 15%
← weakest
strongest →
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 23-03-2026, 130 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
130 d early
2024
84 d early
2023
49 d early
2022
54 d early
2021
46 d early
2020
5 d early
2019
50 d early
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€126k▼ 5.4%
2024 · €133k
2019: €55k
2020: €88k
2021: €122k
2022: €143k
2023: €171k
2024: €133k
2019 → 2025
Total assets
€1.77M▼ 0.8%
2024 · €1.78M
2019: €630k
2020: €1.06M
2021: €1.20M
2022: €2.02M
2023: €2.64M
2024: €1.78M
2019 → 2025
Net result
€-7k▲ 81.0%
2024 · €-38k
2019: €-3k
2020: €33k
2021: €34k
2022: €21k
2023: €28k
2024: €-38k
2019 → 2025
Working capital
€-634k▼ 12.4%
2024 · €-564k
2019: €-75k
2020: €211k
2021: €76k
2022: €-563k
2023: €-701k
2024: €-564k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€122k-€143k▲ 16.8%€171k▲ 19.8%€133k▼ 22.0%€126k▼ 5.4%
Operating result€61k-€77k▲ 26.0%€51k▼ 33.5%€5k▼ 89.8%€25k▲ 386%
Net result€34k-€21k▼ 40.2%€28k▲ 37.8%€-38k€-7k▲ 81.0%
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 386% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.77M
Fixed assets
€1.21M▼ 3.8%
Current assets
€559k▲ 6.6%
Equity and liabilities €1.77M
Equity
€126k▼ 5.4%
Debt
€1.64M▼ 0.4%
The debt ratio rises from 92.5% to 92.9%: equity shrinks faster than debt is paid down.
Key figures and ratios
EBITDA
€74k▲
2024 · €52k
Cash flow
€41k▲
2024 · €9k
Solvency
7.1%▼
2024 · 7.5%
Current ratio
0.47▼
2024 · 0.48
Quick ratio
0.06▼
2024 · 0.23
Debt / equity
13.02▲
2024 · 12.37
ROE
-5.7%▲
2024 · -28.3%
ROA
-0.4%▲
2024 · -2.1%
Interest coverage
2.24▲
2024 · 1.03
Debt
€1.64M▼
2024 · €1.65M
Debt ≤ 1 year
€1.19M▲
2024 · €1.09M
Debt > 1 year
€442k▼
2024 · €478k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.78M€1.77M▼
Fixed assets21/28€1.26M€1.21M▼
Tangible fixed assets22/27€1.26M€1.21M▼
Land and buildings22€1.26M€1.21M▼
Current assets29/58€525k€559k▲
Stocks and contracts in progress3€270k€482k▲
Stocks30/36€270k€482k▲
Contracts in progress37€0-
Amounts receivable within one year40/41€27k€12k▼
Trade receivables40€3k€3k=
Other amounts receivable41€24k€9k▼
Cash at bank and in hand54/58€223k€65k▼
Deferred charges and accrued income490/1€5k€0▼
Equity and liabilities
Total equity and liabilities10/49€1.78M€1.77M▼
Equity10/15€133k€126k▼
Contributions10/11€6k€6k=
Reserves13€85k€85k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€83k€83k=
Profit (loss) carried forward14€42k€35k▼
Amounts payable17/49€1.65M€1.64M▼
Amounts payable after more than one year17€478k€442k▼
Financial debts170/4€478k€442k▼
Amounts payable within one year42/48€1.09M€1.19M▲
Current portion of amounts payable after more than one year42€35k€36k▲
Financial debts43€403k€408k▲
Credit institutions430/8€403k€408k▲
Trade debts44€8k€9k▲
Suppliers440/4€8k€9k▲
Advances received on contracts in progress46€0-
Taxes, remuneration and social security45€0-
Taxes450/3€0-
Other amounts payable47/48€643k€740k▲
Accrued charges and deferred income492/3€83k€7k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€47k€48k▲
Other operating charges640/8€7k€8k▲
Gross operating margin9900€59k€82k▲
Operating profit (loss)9901€5k€25k▲
Financial income75/76B€8k€475▼
Recurring financial income75€8k€475▼
Financial charges65/66B€51k€33k▼
Recurring financial charges65€51k€33k▼
Profit (loss) for the period before taxes9903€-38k€-7k▲
Income taxes67/77€0-
Profit (loss) for the period9904€-38k€-7k▲
Profit (loss) for the period to be appropriated9905€-38k€-7k▲
Appropriation of the result
Profit (loss) to be appropriated9906€42k€35k▼
Profit (loss) brought forward from the previous period14P€80k€42k▼
Transfer to equity691/2€0-
To other reserves6921€0-
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
23-03
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
08-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €-38k ▼233%
Net result drops to €-38k, the lowest in the series; recovery starts the following year.
12-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €150kEq €171k ▲19.8%
4 profitable years in a row build equity to €171k.
07-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
16-12
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
30-06
Financial
Highest result since 2019net €34k ▲5.4%
Net result €34k, the highest in the series.
30-06
Financial
Equity above €100kEq €122k ▲39.2%
2 profitable years in a row build equity to €122k.
26-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-06
Financial
Back to profitnet €33k
Net result €33k after one loss-making year.
30-06
Financial
Liquidity times 9current ratio 1.83
Current ratio from 0.20 to 1.83.
2019
12-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
19-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
10-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
06-12
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.
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, Merksplas · 1 establishment unit since 2009
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Industrieweg 42330 MerksplasGround area
2,720 m²
Building footprint
26 m²
Volume, LiDAR
39 m³
Parcel 13023G0170/00D006, Flanders · tallest building 2.8 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Van Hemelen Energy BVBA
since 20092.180.994.322
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13023G0170/00D006 | Flanders | 2,720 m² | 1 · 25 m² | 2.8 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 116 companies in sector 46645 we hold annual accounts for 78. 51 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded10-09-2009
Fiscal year end31-12
Abbreviation NL
VHE
Activities, NACEBEL
46645Wholesale trade
42220Construction of utility projects for electricity and telecommunications
43211General electrical installation work
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.