Active BE 0423.583.756Public limited company

VAN HENDE

Provinciebaan 108 ·9890 Gavere, Belgium· 43 yrs active

Sector: Wholesale of wines and spirits (46341)

Conclusion Checked

VAN HENDE has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €8.22M and a net result of €1.76M. Equity is growing by ~27.2% per year across the filed fiscal years. Its solvency ranks better than 78% of 4735 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).

Based on the State Gazette, CBE and 4 annual accounts.

Key figures

Equity	€8.22M
Net result	€1.76M
Staff (FTE)	11
Better than sector	78%

Financial profile 5 of 5 axes measured · computed by Checked

91 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 100

Profitability 91

Solvency 100

Growth 64

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.3% Very low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Long-established

Founded in 1983, 43 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

100 / 100 Excellent

050100

Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€800k

estimate, not credit advice

Score history

81 2022

96 2023

100 2024

100 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 3.41 (≥ 1.5) +10

Quick ratio Quick ratio 1.06 (≥ 1.0) +5

Leverage Debt/equity 0.39 (< 1.0) +10

Profitability ROE 21% (≥ 10%) +10

EBITDA margin EBITDA-marge 18% (≥ 10%) +8

Interest coverage Interest coverage 33.8× (≥ 3×) +8

Profit trend Net profit down YoY -3

Equity growth Equity growing YoY +3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview42 NBB filings

Annual accounts filed on 29-10-2025 with the NBB · fiscal year 2025 · full schema

RevenueOperating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Net result: growth of ~23.7%/year over 4 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 46, Wholesale trade · compared within the same schema type (full schema)

Metric	This company	Sector median	Position in the sector
Solvency	71.8%	45.7%	better than 78% of 4735 sector peers
Net result	€1.76M	€116k	better than 88% of 4732 sector peers
Equity	€8.22M	€1.64M	better than 82% of 4737 sector peers
Staff costs	€774k	€781k	higher than 50% of 3943 sector peers
Employees (FTE)	11.0	10.9	better than 50% of 3835 sector peers

Revenue

€14.31M

+1.1% 22-25

EBITDA

€2.51M

-6.8% 22-25

Net profit

€1.76M

-14.5% 22-25

Cash flow

€1.87M

-13.2% 22-25

Total assets

€11.45M

+10.3% 22-25

Equity

€8.22M

+27.2% 22-25

Working capital

€7.64M

+21.3% 22-25

Employees (FTE)

11

0.0% 22-25

Staff costs

€774k

-4.5% 22-25

Income taxes

€592k

+13.0% 22-25

Dividends

€900k

- 22-25

Debt

€3.23M

-17.6% 22-25

Debt ≤ 1y

€3.17M

-15.9% 22-25

Debt > 1y

€0

-100.0% 22-25

Current ratio

3.41

+27.7% 22-25

Quick ratio

1.06

+20.3% 22-25

Solvency

71.8%

+15.3% 22-25

Debt / equity

0.39

-35.2% 22-25

ROE

21.4%

-32.8% 22-25

ROA

15.4%

-22.5% 22-25

Net margin

12.3%

-15.4% 22-25

EBITDA margin

17.5%

-7.8% 22-25

Interest coverage

33.82

-55.9% 22-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022
Deposit	full schema	full schema	abbreviated schema	abbreviated schema
Revenue	€14.31M	€14.16M	-	-
EBITDA	€2.51M	€2.69M	€2.25M	€506k
Net profit	€1.76M	€2.06M	€1.68M	€433k
Cash flow	€1.87M	€2.16M	€1.77M	€496k
Staff costs	€774k	€810k	€769k	€588k
Income taxes	€592k	€523k	€488k	€7k
Dividends	-	-	-	€900k
Total assets	€11.45M	€10.38M	€9.23M	€8.70M
Equity	€8.22M	€6.46M	€4.93M	€3.55M
Debt	€3.23M	€3.91M	€4.30M	€5.16M
of which ≤ 1y	€3.17M	€3.77M	€4.00M	€4.60M
of which > 1y	€0	€132k	€300k	€539k
Working capital	€7.64M	€6.30M	€4.94M	€3.96M
Employees (FTE)	11.0	11.0	12.2	9.6

Note: these years are not on the same basis. The filed schemas differ (full schema, abbreviated schema), so the columns are not directly comparable.

Ratios (computed)

	2025	2024	2023	2022
Current ratio	3.41	2.67	2.23	1.86
Quick ratio	1.06	0.89	0.90	0.64
Working capital ratio	66.7%	60.7%	53.5%	45.5%
Solvency	71.8%	62.3%	53.4%	40.7%
Debt / equity	0.39	0.61	0.87	1.45
Long-term debt ratio	0.00	0.02	0.06	0.15
Interest coverage	33.82	76.73	97.93	17.83
Gross margin	31.9%	33.6%	-	-
Net margin	12.3%	14.5%	-	-
ROA	15.4%	19.8%	18.2%	5.0%
ROE	21.4%	31.9%	34.2%	12.2%
EBITDA margin	17.5%	19.0%	-	-
Days sales outstanding	41d	41d	-	-
Days payable outstanding	46d	37d	-	-
Inventory turnover	1.31	1.40	-	-
Days inventory (DSI)	278d	261d	-	-

Balance-sheet composition 2025

Assets

Fixed assets €642k · 5.6% Current assets €10.81M · 94.4%

Equity & liabilities

Equity €8.22M · 71.8% Debt €3.23M · 28.2%

Full annual accounts (26 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022
Balance sheet, Assets
TOTAL ASSETS	20/58	€11.45M	€10.38M	€9.23M	€8.70M
Fixed assets	21/28	€642k	€316k	€296k	€139k
Tangible fixed assets	22/27	€633k	€307k	€287k	€130k
Financial fixed assets	28	€9k	€9k	€9k	€9k
Current assets	29/58	€10.81M	€10.06M	€8.94M	€8.56M
Stocks & contracts in progress	3	€7.44M	€6.73M	€5.35M	€5.61M
Amounts receivable within one year	40/41	€2.38M	€1.84M	€2.07M	€1.68M
Investments	50/53	€250k	€250k	-	-
Cash & bank	54/58	€153k	€637k	€862k	€539k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€11.45M	€10.38M	€9.23M	€8.70M
Equity	10/15	€8.22M	€6.46M	€4.93M	€3.55M
Contributions / capital	10/11	€74k	€74k	€74k	€74k
Reserves	13	€8.15M	€6.39M	€4.86M	€3.47M
Amounts payable	17/49	€3.23M	€3.91M	€4.30M	€5.16M
Amounts payable after one year	17	€0	€132k	€300k	€539k
Amounts payable within one year	42/48	€3.17M	€3.77M	€4.00M	€4.60M
Trade debts payable within one year	44	€1.24M	€954k	€1.86M	€2.40M
Income statement
Turnover	70	€14.31M	€14.16M	-	-
Gross operating margin	9900	-	-	€3.19M	€1.04M
Operating result	9901	€2.40M	€2.60M	€2.17M	€443k
Financial income	75	€46k	€33k	€25k	€26k
Financial charges	65	€91k	€46k	€23k	€28k
Result before taxes	9903	€2.35M	€2.58M	€2.17M	€440k
Income taxes	67/77	€592k	€523k	€488k	€7k
Net result for the period	9904	€1.76M	€2.06M	€1.68M	€433k
Result to be appropriated	9905	€1.47M	€1.93M	€1.68M	€433k

Legal Structure

NACE primary	Wholesale of wines and spirits(46341)
Legal form	Public limited company(014)
Incorporation	01-01-1983
Status	Active
Postal code	9890

Establishment units 1 location

NV VAN HENDE

Provinciebaan 108, 9890 GavereNACE 1591001

since 19832.021.788.024

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
44016A0488/00S000	Flanders	8,394 m²	1 · 3,444 m²	6.8 m · 2 fl.

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.

Updates 11 events

All 13Financial 2Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-10-2026

2025

29-10

NBB filing Annual accounts filed

fiscal year 2025 · full schema

2024

29-10

NBB filing Annual accounts filed

fiscal year 2024 · full schema

31-03

Financial Highest result since 2022net €2.06M ▲22.3%

Operating result €2.60M, net result €2.06M, both a record.

31-03

Financial Equity above €5MEq €6.46M ▲31.1%

3 profitable years in a row build equity to €6.46M.

2023

28-12

State Gazette act Director changes

Jan Kindermans

31-10

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2022

08-11

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema · 8 days late

2021

03-11

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema · 3 days late

2020

26-10

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2019

10-10

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2018

12-10

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2017

02-10

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2016

06-10

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 9 acts read

We know of 9 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 2 years ago

2023

28-12-2023 2 directors appointed Director changes·Jan Kindermans

VAN HENDE Gilles, Vaste vertegenwoordiger
BROSSÉ Delphine, Vaste vertegenwoordiger

Notary: Jan Kindermans · Edegem

Original publication ↗

Technical details

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      },
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      },
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      "via_org": {
        "kbo": "0898.802.691",
        "name": "CEVEHA",
        "address": "Boomstraat 20, 9890 Gavere",
        "country": "BE",
        "legal_form": "BV"
      },
      "statutory": "statutair",
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    },
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      "kind": "director_in",
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      },
      "reason": null,
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      "via_org": {
        "kbo": "0638.953.747",
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        "country": "BE",
        "legal_form": "BV"
      },
      "statutory": "niet_statutair",
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      "decharge_status": null,
      "mandate_duration": {
        "kind": "indefinite",
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      },
      "rep_rotation_new_rep": null,
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    },
    {
      "kind": "director_in",
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      },
      "reason": null,
      "subkind": null,
      "via_org": {
        "kbo": "0467.865.048",
        "name": "VINS SUR VINGT",
        "address": "Provinciebaan 108, 9890 Gavere",
        "country": "BE",
        "legal_form": "BV"
      },
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    }
  ],
  "notary": {
    "name": "Jan Kindermans",
    "firm_city": null,
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  },
  "act_meta": {
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    "filing_date": "2023-12-24",
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  "decisions": [
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  ],
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}

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Wholesale of wines and spirits46341Wholesale of beverages, general range4634951340Manufacture of beverages1101015910Retail sale of beverages, general range47252Logistics services52250

Names & trade names

Legal nameNL

VAN HENDE

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