HE-Construct
ActiveSummary
HE-Construct has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €200k and a net result of €-28k. Equity is shrinking by ~11.1% per year across the filed fiscal years. Its solvency ranks better than 18% of 27786 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
46
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability39▼-29
Solvency41▼-5
Growth32=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity short (current ratio 0.61 against 0.51 in 2024; short-term debt: 75.9% and cash: 6% of total assets), and 84.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six 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 43
Relative position
BE, all sectors
reference
Sector 43
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
15.6%
Return on assets
-2.2%
Age of the figures
18 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year €-28k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 27786 sector peers (2025).
NBB · sector comparisonPosition among 27786 sector peers
Solvency
better than 18%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 21-10-2025, 10 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
10 d early
2024
1 d early
2023
on the day
2022
3 d late
2021
2 d late
2020
2 d early
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close24-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€200k▼ 12.3%
2024 · €228k
2019: €390k
2020: €391k
2021: €315k
2022: €299k
2023: €235k
2024: €228k
2019 → 2025
Total assets
€1.28M▲ 17.8%
2024 · €1.08M
2019: €542k
2020: €471k
2021: €555k
2022: €997k
2023: €1.06M
2024: €1.08M
2019 → 2025
Net result
€-28k▼ 279%
2024 · €-7k
2019: €72k
2020: €571
2021: €-75k
2022: €-16k
2023: €-64k
2024: €-7k
2019 → 2025
Working capital
€-380k▼ 4.6%
2024 · €-363k
2019: €133k
2020: €242k
2021: €169k
2022: €82k
2023: €144k
2024: €-363k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€315k-€299k▼ 5.1%€235k▼ 21.4%€228k▼ 3.2%€200k▼ 12.3%
Operating result€-64k-€-15k▲ 76.5%€-62k▼ 311%€-4k▲ 92.8%€-24k▼ 440%
Net result€-75k-€-16k▲ 78.6%€-64k▼ 298%€-7k▲ 88.4%€-28k▼ 279%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €24k in 2025 against €4k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.28M
Fixed assets
€688k ▼ 3.3%
Current assets
€589k ▲ 58.2%
Equity and liabilities €1.28M
Equity
€200k ▼ 12.3%
Debt
€1.08M ▲ 25.9%
Debt's share of the balance-sheet total rises from 79.0% to 84.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€11k▼
2024 · €27k
Cash flow
€7k▼
2024 · €24k
Current ratio
0.61▲
2024 · 0.51
Quick ratio
0.09▼
2024 · 0.10
Debt to equity
5.39▲
2024 · 3.76
ROE
-14.1%▼
2024 · -3.3%
ROA
-2.2%▼
2024 · -0.7%
Interest coverage
2.82▼
2024 · 9.19
Debt ≤ 1 year
€969k▲
2024 · €736k
Debt > 1 year
€108k▼
2024 · €120k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.08M€1.28M▲
Fixed assets21/28€711k€688k▼
Tangible fixed assets22/27€711k€688k▼
Land and buildings22€673k€651k▼
Plant, machinery and equipment23€6k€9k▲
Furniture and vehicles24€32k€28k▼
Current assets29/58€372k€589k▲
Stocks and contracts in progress3€298k€506k▲
Stocks30/36€298k€506k▲
Amounts receivable within one year40/41€35k€1k▼
Trade receivables40-€450
Other amounts receivable41€35k€966▼
Cash at bank and in hand54/58€39k€77k▲
Deferred charges and accrued income490/1-€5k
Equity and liabilities
Total equity and liabilities10/49€1.08M€1.28M▲
Equity10/15€228k€200k▼
Contributions10/11€62k€62k=
Reserves13€166k€139k▼
Non-distributable reserves130/1€6k€6k=
Reserves not available under the articles1311€6k€6k=
Distributable reserves133€160k€133k▼
Profit (loss) carried forward14-€-2k
Amounts payable17/49€856k€1.08M▲
Amounts payable after more than one year17€120k€108k▼
Financial debts170/4€120k€108k▼
Amounts payable within one year42/48€736k€969k▲
Current portion of amounts payable after more than one year42€12k€12k▲
Financial debts43-€210k
Credit institutions430/8-€210k
Trade debts44€2k€14k▲
Suppliers440/4€2k€14k▲
Taxes, remuneration and social security45€513€15▼
Taxes450/3€513€15▼
Other amounts payable47/48€721k€733k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€32k€35k▲
Other operating charges640/8€4k€8k▲
Gross operating margin9900€31k€19k▼
Operating profit (loss)9901€-4k€-24k▼
Financial income75/76B-€0
Recurring financial income75-€0
Financial charges65/66B€3k€4k▲
Recurring financial charges65€3k€4k▲
Profit (loss) for the period before taxes9903€-7k€-28k▼
Profit (loss) for the period9904€-7k€-28k▼
Profit (loss) for the period to be appropriated9905€-7k€-28k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-7k€-28k▼
Transfer from equity791/2€7k€27k▲
The notes to these accounts (7 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
2025
21-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
30-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
03-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 3 days late
2021
02-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 2 days late
31-03
Financial
Weakest financial yearnet €-75k ▼13261%
Net result drops to €-75k, the lowest in the series; recovery starts the following year.
2020
29-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
31-03
Financial
Liquidity triplescurrent ratio 5.78
Current ratio from 2.19 to 5.78; short-term debt falls from €112k to €51k.
2019
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
25-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
30-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
28-10
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
3 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, Tessenderlo-Ham · 1 establishment unit since 1998
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.
Baal 1093980 Tessenderlo-HamGround area
547 m²
Building footprint
126 m²
Volume, LiDAR
470 m³
Parcel 71057A0031/03N000, Flanders · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Baal 109, 3980 Tessenderlo-Ham
since 19982.089.430.874
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71057A0031/03N000 | Flanders | 547 m² | 1 · 125 m² | 7.8 m · 2 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.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 187 EUR awarded · 187 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 187 EUR | 187 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 9,530 companies in sector 43222 we hold annual accounts for 5,662. 4,821 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded30-09-1998
Fiscal year end31-03
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
46711Wholesale of cars and light vans (up to 3.5 tonnes)
47811Retail sale of cars and light vans (up to 3.5 tonnes)
Sources
Crossroads Bank for EnterprisesNational Bank · 27 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.