VAN HOECK
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 29-04-2026 PDF all 6 filings
Turnover
€30,687
EBIT margin
-40.1%
Net result
-€14,759
2024 · €22,159
Working capital
-€2,009▼ 9.2%
2024 · -€1,840
Multi-year overview
2020 to 2025, 6 financial yearsTurnover
no figure
2025
20202025
Operating result
-€11,930
2025
20202025
Net result
-€14,759
2025
lowest quarter of the sector
20202025
EBIT margin
no figure
2025
20202025
Equity
-€8,163
2025
lowest quarter of the sector
20202025
Total assets
€29,992
▼ 22.3%
2025
lowest quarter of the sector
20202025
Debt
€38,155
▲ 19.2%
2025
20202025
Working capital
-€2,009
▼ 9.2%
2025
lowest quarter of the sector
20202025
Solvency
-27.2%
▼ 44.3pp
2025
lowest quarter of the sector
20202025
Current ratio
0.94
▲ 0.04
2025
lowest quarter of the sector
20202025
Return on assets (ROA)
-49.2%
▼ 106.6pp
2025
lowest quarter of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Turnover€30,687
Operating result€6,120--€30,378€30,338-€12,296€27,566-€11,930
Net result€4,928within the sector's middle half--€36,396below the sector's middle half€28,195within the sector's middle half€22,159within the sector's middle half-€14,759below the sector's middle half
EBIT margin-40.1%
Equity€11,428below the sector's middle half--€24,967below the sector's middle half€3,227below the sector's middle half-€15,563below the sector's middle half€6,596below the sector's middle half-€8,163below the sector's middle half
Total assets€79,540within the sector's middle half-€39,738below the sector's middle half▼ 50.0%€26,212below the sector's middle half▼ 34.0%€35,065below the sector's middle half▲ 33.8%€38,608below the sector's middle half▲ 10.1%€29,992below the sector's middle half▼ 22.3%
Debt€68,111-€64,706▼ 5.0%€22,984▼ 64.5%€50,628▲ 120%€32,013▼ 36.8%€38,155▲ 19.2%
Working capital-€4,950below the sector's middle half--€29,124below the sector's middle half▼ 488%-€986below the sector's middle half▲ 96.6%-€22,773below the sector's middle half▼ 2,210%-€1,840below the sector's middle half▲ 91.9%-€2,009below the sector's middle half▼ 9.2%
Solvency14.4%below the sector's middle half--62.8%below the sector's middle half▼ 77.2pp12.3%below the sector's middle half▲ 75.1pp-44.4%below the sector's middle half▼ 56.7pp17.1%below the sector's middle half▲ 61.5pp-27.2%below the sector's middle half▼ 44.3pp
Current ratio0.74below the sector's middle half-0.35below the sector's middle half▼ 0.380.92below the sector's middle half▲ 0.560.21below the sector's middle half▼ 0.700.90below the sector's middle half▲ 0.680.94below the sector's middle half▲ 0.04
Return on assets (ROA)6.2%within the sector's middle half--91.6%below the sector's middle half▼ 97.8pp107.6%above the sector's middle half▲ 199.2pp57.4%above the sector's middle half-49.2%below the sector's middle half▼ 106.6pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 a loss of €11,930, after a profit of €27,566 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €29,992
Fixed assets
€542 ▼ 97.6%
Current assets
€29,450 ▲ 86.4%
Equity and liabilities
Equity-€8,163
Debt€38,155
Equity is negative. Debt (€38,155) exceeds the balance-sheet total (€29,992).
Key figures and ratios
EBITDA
-€6,843▼
2024 · €33,644
Cash flow
-€9,672▼
2024 · €28,238
Interest coverage
-2.53▼
2024 · 6.39
Debt ≤ 1 year
€31,459▲
2024 · €17,639
Debt > 1 year
€6,696▼
2024 · €14,373
Income taxes
€137▼
2024 · €145
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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 | - | - | €29,752 | - | - |
| Depreciation and write-downs of the year | €14,836 | €8,232 | €1,791 | €6,078 | €5,087 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €30,687 | - | - | - |
| Non-recurring operating income76A | - | €3,276 | - | €9,408 | €32,231 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €56,145 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,683 | €14,836 | €8,232 | €1,791 | €6,078 | €5,087 | ▼ 16.3% |
| Other operating charges640/8 | - | €737 | €402 | €777 | €871 | €758 | ▼ 13.0% |
| Non-recurring operating charges66A | - | €4,572 | - | - | - | €1,680 | - |
| Gross operating margin9900 | €14,977 | -€10,233 | €38,972 | -€9,728 | €34,515 | -€4,405 | - |
| Operating profit (loss)9901 | €6,120 | -€30,378 | €30,338 | -€12,296 | €27,566 | -€11,930 | - |
| Financial income75/76B | - | - | - | - | - | €11 | - |
| Recurring financial income75 | - | - | - | - | - | €11 | - |
| Financial charges65/66B | - | €5,745 | €1,864 | €6,223 | €5,262 | €2,703 | ▼ 48.6% |
| Recurring financial charges65 | €1,180 | €5,745 | €1,864 | €6,223 | €5,262 | €2,703 | ▼ 48.6% |
| Profit (loss) for the period before taxes9903 | €4,940 | -€36,124 | €28,475 | -€18,519 | €22,304 | -€14,622 | - |
| Income taxes67/77 | €12 | €272 | €280 | €272 | €145 | €137 | ▼ 5.7% |
| Profit (loss) for the period9904 | €4,928 | -€36,396 | €28,195 | - | €22,159 | -€14,759 | - |
| Profit (loss) for the period to be appropriated9905 | €4,928 | -€36,396 | €28,195 | - | €22,159 | -€14,759 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €79,540 | €39,738 | €26,212 | €35,065 | €38,608 | €29,992 | ▼ 22.3% |
| Fixed assets21/28 | €65,551 | €23,750 | €15,518 | €28,887 | €22,809 | €542 | ▼ 97.6% |
| Tangible fixed assets22/27 | €65,551 | €23,750 | €15,518 | €28,887 | €22,809 | €542 | ▼ 97.6% |
| Furniture and vehicles24 | - | €22,696 | €14,592 | €28,089 | €22,139 | - | - |
| Other tangible fixed assets26 | - | €1,054 | €926 | €798 | €670 | €542 | ▼ 19.1% |
| Current assets29/58 | €13,988 | €15,988 | €10,694 | €6,177 | €15,799 | €29,450 | ▲ 86.4% |
| Amounts receivable within one year40/41 | €13,160 | €2,945 | €7,380 | €6,177 | €345 | €29,450 | ▲ 85× |
| Trade receivables40 | - | €2,945 | €945 | €5,294 | €345 | €26,436 | ▲ 77× |
| Other amounts receivable41 | - | - | €6,435 | €883 | - | €3,014 | - |
| Cash at bank and in hand54/58 | - | €13,043 | €3,314 | - | €15,454 | - | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €79,540 | €39,738 | €26,212 | €35,065 | €38,608 | €29,992 | ▼ 22.3% |
| Equity10/15 | €11,428 | -€24,967 | €3,227 | -€15,563 | €6,596 | -€8,163 | - |
| Contributions10/11 | - | €6,500 | €6,500 | €6,500 | €6,500 | €6,500 | = |
| Profit (loss) carried forward14 | €4,928 | -€31,467 | -€3,273 | -€22,063 | €96 | -€14,663 | - |
| Amounts payable17/49 | €68,111 | €64,706 | €22,984 | €50,628 | €32,013 | €38,155 | ▲ 19.2% |
| Amounts payable after more than one year17 | €49,114 | €19,593 | €11,305 | €21,678 | €14,373 | €6,696 | ▼ 53.4% |
| Financial debts170/4 | - | €19,593 | €11,305 | €21,678 | €14,373 | €6,696 | ▼ 53.4% |
| Amounts payable within one year42/48 | €18,938 | €45,112 | €11,680 | €28,950 | €17,639 | €31,459 | ▲ 78.3% |
| Current portion of amounts payable after more than one year42 | - | €8,381 | €8,118 | €6,949 | €7,304 | €7,677 | ▲ 5.1% |
| Financial debts43 | - | - | - | €7,032 | - | €3,553 | - |
| Credit institutions430/8 | - | - | - | €7,032 | - | €3,553 | - |
| Trade debts44 | €1,844 | €22,820 | €3,282 | €267 | €5,209 | €4,697 | ▼ 9.8% |
| Suppliers440/4 | - | €22,820 | €3,282 | €267 | €5,209 | €4,697 | ▼ 9.8% |
| Taxes, remuneration and social security45 | - | €4,400 | €280 | €552 | €2,389 | €281 | ▼ 88.2% |
| Taxes450/3 | - | €4,400 | €280 | €552 | €2,389 | €281 | ▼ 88.2% |
| Other amounts payable47/48 | - | €9,511 | - | €14,150 | €2,738 | €15,250 | ▲ 457% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,928 | -€36,396 | €28,195 | - | €22,159 | -€14,759 | - |
| + Depreciation and write-downs630 | €7,683 | €14,836 | €8,232 | €1,791 | €6,078 | €5,087 | ▼ 16.3% |
| Operating cash flow (approximation) | €12,611 | -€21,560 | €36,427 | €1,791 | €28,238 | -€9,672 | - |
| Investment in fixed assets (approximation) | - | €26,965 | €0 | -€15,160 | -€0 | €17,180 | - |
| Change in cash | - | - | -€9,729 | - | - | - | - |
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, 6,008 companies had the same profile as VAN HOECK has now. Two years later, 83.0% were still going and 7.9% had gone bankrupt.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
83.0%
was still going
8.4%
stopped otherwise
7.9%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of VAN HOECK itself: 2.8% 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 6,008 companies, not a prediction for VAN HOECK. 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.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-04-2026 | 2026-00092311 | |
| 31-12-2024 | micro format | 15-07-2025 | 2025-00268901 | |
| 31-12-2023 | micro format | 14-06-2024 | 2024-00143239 | |
| 31-12-2022 | micro format | 15-08-2023 | 2023-00333682 | |
| 31-12-2021 | micro format | 02-08-2022 | 2022-20264711 | |
| 31-12-2020 | micro format | 16-09-2021 | 2021-67300087 |