VERHELST PORT OPERATORS
ActiveVERHELST PORT OPERATORS has been active since 1982 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.45M and a net result of €52k. Equity is growing by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 86% of 649 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
86
/ 100
Excellent= vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability10▼-16
Solvency100=
Growth78=
Stability100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €210k at 30 days acceptable
Liquidity ample (current ratio 5.3 against 4.88 in 2024), and 22.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Sector 49
higher
← 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
77.6%
Return on assets
1.6%
Age of the figures
8 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 20-07-2026, 11 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
11 d early
2024
9 d early
2023
on the day
2022
27 d early
2021
25 d early
2020
17 d early
2019
14 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
13-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€52k▼ 59.0%
2024 · €126k
2018: €-68k
2019: €122k
2020: €16k
2021: €131k
2022: €16k
2023: €201k
2024: €126k
2018 → 2025
Working capital
€2.51M▲ 3.0%
2024 · €2.43M
2018: €1.34M
2019: €1.51M
2020: €1.49M
2021: €1.85M
2022: €1.91M
2023: €2.17M
2024: €2.43M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2.06M-€2.08M▲ 0.8%€2.28M▲ 9.7%€2.40M▲ 5.5%€2.45M▲ 2.1%
Operating result€175k-€15k▼ 91.3%€261k▲ 1,615%€159k▼ 38.8%€36k▼ 77.7%
Net result€131k-€16k▼ 88.1%€201k▲ 1,197%€126k▼ 37.6%€52k▼ 59.0%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 78% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.16M
Fixed assets
€71k▼ 24.3%
Current assets
€3.09M▲ 1.0%
Equity and liabilities €3.16M
Equity
€2.45M▲ 2.1%
Provisions
€125k=
Debt
€583k▼ 7.2%
The debt ratio falls from 19.9% to 18.4%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€87k▼
2024 · €217k
Cash flow
€103k▼
2024 · €183k
Solvency
77.6%▲
2024 · 76.1%
Current ratio
5.30▲
2024 · 4.88
Quick ratio
5.30▲
2024 · 4.88
Debt / equity
0.24▼
2024 · 0.26
ROE
2.1%▼
2024 · 5.2%
ROA
1.6%▼
2024 · 4.0%
Interest coverage
14.14▼
2024 · 43.62
Debt
€583k▼
2024 · €628k
Debt ≤ 1 year
€583k▼
2024 · €628k
Income taxes
€25k▼
2024 · €52k
Staff costs
€1.17M▲
2024 · €1.08M
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€3.16M€3.16M▲
Fixed assets21/28€93k€71k▼
Intangible fixed assets21€2k€1k▼
Tangible fixed assets22/27€86k€63k▼
Land and buildings22€76k€54k▼
Plant, machinery and equipment23€6k€9k▲
Furniture and vehicles24€4k€0▼
Financial fixed assets28€5k€7k▲
Current assets29/58€3.06M€3.09M▲
Amounts receivable within one year40/41€2.12M€3.07M▲
Trade receivables40€699k€657k▼
Other amounts receivable41€1.42M€2.41M▲
Cash at bank and in hand54/58€915k€2k▼
Deferred charges and accrued income490/1€25k€25k▲
Equity and liabilities
Total equity and liabilities10/49€3.16M€3.16M▲
Equity10/15€2.40M€2.45M▲
Contributions10/11€900k€900k=
Capital10€900k€900k=
Issued capital100€900k€900k=
Reserves13€914k€914k=
Non-distributable reserves130/1€90k€90k=
Legal reserve130€90k€90k=
Distributable reserves133€824k€824k=
Profit (loss) carried forward14€589k€641k▲
Provisions and deferred taxes16€125k€125k=
Provisions for liabilities and charges160/5€125k€125k=
Other liabilities and charges164/5€125k€125k=
Amounts payable17/49€628k€583k▼
Amounts payable within one year42/48€628k€583k▼
Trade debts44€426k€383k▼
Suppliers440/4€426k€383k▼
Taxes, remuneration and social security45€202k€200k▼
Taxes450/3€106k€69k▼
Remuneration and social security454/9€96k€131k▲
Other amounts payable47/48-€625
Income statement
Code20242025
Non-recurring operating income76A€650€18k▲
Remuneration, social security and pensions62€1.08M€1.17M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€57k€51k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€125k-
Other operating charges640/8€70k€106k▲
Non-recurring operating charges66A-€139k
Gross operating margin9900€1.49M€1.50M▲
Operating profit (loss)9901€159k€36k▼
Financial income75/76B€22k€47k▲
Recurring financial income75€22k€47k▲
Financial charges65/66B€5k€6k▲
Recurring financial charges65€5k€6k▲
Profit (loss) for the period before taxes9903€177k€77k▼
Transfer from deferred taxes780€666-
Income taxes67/77€52k€25k▼
Profit (loss) for the period9904€126k€52k▼
Transfer from tax-exempt reserves789€2k-
Profit (loss) for the period to be appropriated9905€128k€52k▼
Appropriation of the result
Profit (loss) to be appropriated9906€589k€641k▲
Profit (loss) brought forward from the previous period14P€462k€589k▲
Social balance
Average headcount (FTE)908718.817.3▼
The notes to these accounts (13 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
28-07
State Gazette act
Resignations & appointmentsGeneral meeting · Director resignation · Director appointment7 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director resignation · Director appointment7 facts ▸
- General meeting, 10/07/2026
- Director resignation, Havecon BV (bestuurder)
- Director appointment, Ludovic De Poorter (bestuurder)
- Director appointment, BV DENKO International (bestuurder)
- Permanent representative, Koen Denys
- Director discharge, Havecon BV
- Permanent representative, Kathleen Verhelst
20-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €201k ▲1197%
Operating result €261k, net result €201k, both a record.
04-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €2MEq €2.06M ▲6.8%
3 profitable years in a row build equity to €2.06M.
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €122k
Net result €122k after one loss-making year.
08-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
16-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
07-07
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.
Directors · office · real estate
Directors
3 directors, no change since 2026
Denko International
CurrentDirector · since 10-07-2026 · Private limited company · perm. rep.: Koen Denys
Ludovic De Poorter
CurrentDirector · since 10-07-2026
10-07-2026
Denko International: Appointed as Director
10-07-2026
Ludovic De Poorter: Appointed as Director
10-07-2026
HAVECON: Resigned as Director
Location & real-estate footprint
Registered office, Oudenburg · 2 establishment units since 1982
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.
Stationsstraat 308460 OudenburgGround area
15.1 ha
Building footprint
845 m²
Volume, LiDAR
9,628 m³
Parcel 35014B0015/00H002, Flanders · tallest building 13.0 m, ±4 floors. Linked by address, not a title deed.
2 establishment units
Zwaaidok 2, 8400 Oostende
since 19822.020.660.646
TER POLDER
since 20082.215.684.787
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35014B0015/00H002 | Flanders | 15.1 ha | 1 · 845 m² | 13.0 m · 4 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.
Structure & network
Connections & network
2 connected companiesNetwork connections
Shared corporate director
→
Shared corporate director
→
Ownership & control
1 partyControl over this companysits on this company's board1
3 subsidiaries · 1 location
controls
VERHELST PORT OPERATORSBE 0422.790.732
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Of 12,446 companies in sector 49410 we hold annual accounts for 8,086. 2,683 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded17-06-1982
Fiscal year end31-12
Activities, NACEBEL
49410Freight transport by road
52100Warehousing and storage
63122
68203Renting and operating of own or leased non-residential real estate, excluding land
68204Real estate activities
70203
70204
71210
77120Rental and leasing activities
Sources
Crossroads Bank for EnterprisesNational Bank · 43 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.