HEPACO
ActiveSummary
HEPACO has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €592k and a net result of €40k. Equity is growing by ~10.3% per year across the filed fiscal years. Its solvency ranks better than 84% of 9494 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▼-5
Solvency100=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days acceptable
Liquidity ample (current ratio 2.71 against 1.73 in 2024; short-term debt: 9.8% and cash: 9.3% of total assets), and 15.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← 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
84.6%
Return on assets
5.7%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 23-12-2025, 39 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
39 d early
2024
36 d early
2023
36 d early
2022
43 d early
2021
45 d early
2020
32 d early
2019
42 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€592k▲ 7.3%
2024 · €552k
2019: €310klowest in 7 years
2020: €371k▲ +19.7% vs 2019
2021: €396k▲ +7.0% vs 2020
2022: €457k▲ +15.2% vs 2021
2023: €491k▲ +7.5% vs 2022
2024: €552k▲ +12.4% vs 2023
2025: €592k▲ +7.3% vs 2024highest in 7 years
2019 → 2025
Total assets
€700k▲ 10.0%
2024 · €636k
2019: €585k
2020: €562k▼ -4.0% vs 2019
2021: €570k▲ +1.5% vs 2020
2022: €560k▼ -1.7% vs 2021lowest in 7 years
2023: €564k▲ +0.8% vs 2022
2024: €636k▲ +12.7% vs 2023
2025: €700k▲ +10.0% vs 2024highest in 7 years
2019 → 2025
Net result
€40k▼ 34.2%
2024 · €61k
2019: €41k
2020: €86k▲ +111% vs 2019highest in 7 years
2021: €51k▼ -41.0% vs 2020
2022: €60k▲ +18.2% vs 2021
2023: €34k▼ -42.8% vs 2022lowest in 7 years
2024: €61k▲ +77.0% vs 2023
2025: €40k▼ -34.2% vs 2024
2019 → 2025
Working capital
€117k▲ 127%
2024 · €52k
2019: €-95klowest in 7 years
2020: €-35k▲ +63.4% vs 2019
2021: €-21k▲ +38.8% vs 2020
2022: €-18k▲ +16.7% vs 2021
2023: €48k▲ +372% vs 2022
2024: €52k▲ +7.0% vs 2023
2025: €117k▲ +127% vs 2024highest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€396k-€457k▲ 15.2%€491k▲ 7.5%€552k▲ 12.4%€592k▲ 7.3%
2021: €396klowest in 5 years
2022: €457k▲ +15.2% vs 2021
2023: €491k▲ +7.5% vs 2022
2024: €552k▲ +12.4% vs 2023
2025: €592k▲ +7.3% vs 2024highest in 5 years
Operating result€63k-€75k▲ 19.7%€49k▼ 35.1%€82k▲ 67.8%€51k▼ 37.1%
2021: €63k
2022: €75k▲ +19.7% vs 2021
2023: €49k▼ -35.1% vs 2022lowest in 5 years
2024: €82k▲ +67.8% vs 2023highest in 5 years
2025: €51k▼ -37.1% vs 2024
Net result€51k-€60k▲ 18.2%€34k▼ 42.8%€61k▲ 77.0%€40k▼ 34.2%
2021: €51k
2022: €60k▲ +18.2% vs 2021
2023: €34k▼ -42.8% vs 2022lowest in 5 years
2024: €61k▲ +77.0% vs 2023highest in 5 years
2025: €40k▼ -34.2% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 37% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €700k
Fixed assets
€514k ▲ 0.2%
Current assets
€185k ▲ 51.1%
Equity and liabilities €700k
Equity
€592k ▲ 7.3%
Debt
€108k ▲ 28.3%
Debt's share of the balance-sheet total rises from 13.2% to 15.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€106k▼
2024 · €126k
Cash flow
€94k▼
2024 · €105k
Current ratio
2.71▲
2024 · 1.73
Debt to equity
0.18▲
2024 · 0.15
ROE
6.8%▼
2024 · 11.0%
ROA
5.7%▼
2024 · 9.6%
Interest coverage
47.43▼
2024 · 78.16
Debt ≤ 1 year
€68k▼
2024 · €71k
Debt > 1 year
€40k▲
2024 · €13k
Income taxes
€15k▼
2024 · €23k
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 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€636k€700k▲
Fixed assets21/28€513k€514k▲
Tangible fixed assets22/27€513k€514k▲
Land and buildings22€354k€338k▼
Plant, machinery and equipment23€48k€41k▼
Furniture and vehicles24€111k€136k▲
Financial fixed assets28€45€45=
Current assets29/58€123k€185k▲
Amounts receivable within one year40/41€85k€117k▲
Trade receivables40€30k€40k▲
Other amounts receivable41€56k€77k▲
Cash at bank and in hand54/58€36k€65k▲
Deferred charges and accrued income490/1€2k€4k▲
Equity and liabilities
Total equity and liabilities10/49€636k€700k▲
Equity10/15€552k€592k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€102k€137k▲
Non-distributable reserves130/1€6k€6k=
Reserves not available under the articles1311€6k€6k=
Tax-exempt reserves132€6k€6k=
Distributable reserves133€90k€125k▲
Profit (loss) carried forward14€388k€393k▲
Amounts payable17/49€84k€108k▲
Amounts payable after more than one year17€13k€40k▲
Financial debts170/4€13k€40k▲
Amounts payable within one year42/48€71k€68k▼
Current portion of amounts payable after more than one year42€27k€35k▲
Trade debts44€19k€11k▼
Suppliers440/4€19k€11k▼
Taxes, remuneration and social security45€24k€23k▼
Taxes450/3€24k€21k▼
Remuneration and social security454/9-€2k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€44k€54k▲
Other operating charges640/8€5k€4k▼
Gross operating margin9900€131k€110k▼
Operating profit (loss)9901€82k€51k▼
Financial income75/76B€3k€6k▲
Recurring financial income75€3k€6k▲
Financial charges65/66B€2k€2k▲
Recurring financial charges65€2k€2k▲
Profit (loss) for the period before taxes9903€83k€55k▼
Income taxes67/77€23k€15k▼
Profit (loss) for the period9904€61k€40k▼
Profit (loss) for the period to be appropriated9905€61k€40k▼
Appropriation of the result
Profit (loss) to be appropriated9906€433k€428k▼
Profit (loss) brought forward from the previous period14P€372k€388k▲
Transfer to equity691/2€45k€35k▼
To other reserves6921€45k€35k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €59k | €48k | €44k | €44k | €54k | ▲ 22.9% |
| Other operating charges640/8 | - | €4k | €5k | €5k | €4k | ▼ 20.6% |
| Gross operating margin9900 | €125k | €128k | €98k | €131k | €110k | ▼ 16.2% |
| Operating profit (loss)9901 | €63k | €75k | €49k | €82k | €51k | ▼ 37.1% |
| Financial income75/76B | - | €2k | €2k | €3k | €6k | ▲ 70.0% |
| Recurring financial income75 | €984 | €2k | €2k | €3k | €6k | ▲ 70.0% |
| Financial charges65/66B | - | €3k | €3k | €2k | €2k | ▲ 38.3% |
| Recurring financial charges65 | €3k | €3k | €3k | €2k | €2k | ▲ 38.3% |
| Profit (loss) for the period before taxes9903 | €61k | €74k | €48k | €83k | €55k | ▼ 34.3% |
| Income taxes67/77 | €10k | €14k | €14k | €23k | €15k | ▼ 34.4% |
| Profit (loss) for the period9904 | €51k | €60k | €34k | €61k | €40k | ▼ 34.2% |
| Profit (loss) for the period to be appropriated9905 | €51k | €60k | €34k | €61k | €40k | ▼ 34.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €570k | €560k | €564k | €636k | €700k | ▲ 10.0% |
| Fixed assets21/28 | €492k | €483k | €461k | €513k | €514k | ▲ 0.2% |
| Tangible fixed assets22/27 | €492k | €483k | €461k | €513k | €514k | ▲ 0.2% |
| Land and buildings22 | - | €386k | €372k | €354k | €338k | ▼ 4.6% |
| Plant, machinery and equipment23 | - | €55k | €56k | €48k | €41k | ▼ 15.3% |
| Furniture and vehicles24 | - | €42k | €33k | €111k | €136k | ▲ 22.3% |
| Financial fixed assets28 | €45 | €45 | €45 | €45 | €45 | = |
| Current assets29/58 | €77k | €77k | €104k | €123k | €185k | ▲ 51.1% |
| Amounts receivable within one year40/41 | €40k | €73k | €61k | €85k | €117k | ▲ 36.5% |
| Trade receivables40 | - | €45k | €27k | €30k | €40k | ▲ 33.7% |
| Other amounts receivable41 | - | €28k | €33k | €56k | €77k | ▲ 38.1% |
| Cash at bank and in hand54/58 | €34k | €2k | €42k | €36k | €65k | ▲ 82.8% |
| Deferred charges and accrued income490/1 | - | €2k | €1k | €2k | €4k | ▲ 124% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €570k | €560k | €564k | €636k | €700k | ▲ 10.0% |
| Equity10/15 | €396k | €457k | €491k | €552k | €592k | ▲ 7.3% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | - | €62k | €62k | €62k | €62k | = |
| Issued capital100 | - | €62k | €62k | €62k | €62k | = |
| Reserves13 | €32k | €32k | €57k | €102k | €137k | ▲ 34.2% |
| Non-distributable reserves130/1 | - | €6k | €6k | €6k | €6k | = |
| Reserves not available under the articles1311 | - | €6k | €6k | €6k | €6k | = |
| Tax-exempt reserves132 | - | €6k | €6k | €6k | €6k | = |
| Distributable reserves133 | - | €20k | €45k | €90k | €125k | ▲ 38.9% |
| Profit (loss) carried forward14 | €302k | €362k | €372k | €388k | €393k | ▲ 1.3% |
| Amounts payable17/49 | €173k | €104k | €74k | €84k | €108k | ▲ 28.3% |
| Amounts payable after more than one year17 | €75k | €9k | €18k | €13k | €40k | ▲ 202% |
| Financial debts170/4 | - | €9k | €18k | €13k | €40k | ▲ 202% |
| Amounts payable within one year42/48 | €99k | €95k | €56k | €71k | €68k | ▼ 3.7% |
| Current portion of amounts payable after more than one year42 | - | €75k | €24k | €27k | €35k | ▲ 27.8% |
| Trade debts44 | €3k | €8k | €15k | €19k | €11k | ▼ 45.7% |
| Suppliers440/4 | - | €8k | €15k | €19k | €11k | ▼ 45.7% |
| Taxes, remuneration and social security45 | - | €13k | €17k | €24k | €23k | ▼ 5.9% |
| Taxes450/3 | - | €13k | €17k | €24k | €21k | ▼ 15.4% |
| Remuneration and social security454/9 | - | - | - | - | €2k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €51k | €60k | €34k | €61k | €40k | ▼ 34.2% |
| + Depreciation and write-downs630 | €59k | €48k | €44k | €44k | €54k | ▲ 22.9% |
| Operating cash flow (approximation) | €109k | €108k | €79k | €105k | €94k | ▼ 10.2% |
| Investment in fixed assets (approximation) | - | €-39k | €-22k | €-97k | €-55k | ▲ 42.9% |
| Change in cash | - | €-32k | €39k | €-6k | €30k | ▲ 582% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
10-09
State Gazette act
Incorporation · Founder
Bank account · Name clause
2025
23-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
26-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-06
Financial
Equity above €500kEq €552k ▲12.4%
6 profitable years in a row build equity to €552k.
2023
26-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-06
Financial
Weakest financial yearnet €34k ▼42.8%
Net result drops to €34k, the lowest in the series; recovery starts the following year.
30-06
Financial
Liquidity doublescurrent ratio 1.86
Current ratio from 0.81 to 1.86; short-term debt falls from €95k to €56k.
2022
19-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
17-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
30-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
30-06
Financial
Highest result since 2019net €86k ▲111%
Operating result €106k, net result €86k, both a record.
2019
20-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2018
24-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
26-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
27-12
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.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 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, Putte · 1 establishment unit since 1997
Ground area
1,166 m²
Building footprint
233 m²
Volume, LiDAR
216 m³
Parcel 12029B0617/00H000, Flanders · tallest building 10.5 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Oude Molen 10, 2580 Putte
since 19972.081.221.013
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12029B0617/00H000 | Flanders | 1,166 m² | 1 · 233 m² | 10.5 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
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
Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
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Of 11,546 companies in sector 71121 we hold annual accounts for 6,561. 4,195 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded06-02-1997
Fiscal year end30-06
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
71111Activities of building architects
Scores and ratios are computed by Checked and are not a credit decision.