HERK&RED
ActiveSummary
HERK&RED has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €22.36M and a net result of €500k. Equity is growing by ~7% per year across the filed fiscal years. Its solvency ranks better than 79% of 4539 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
84
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability81=
Solvency100=
Growth61▲+2
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €170k at 30 days acceptable
Liquidity ample (current ratio 1.52 against 2.48 in 2024; short-term debt: 5.8% and cash: 2.4% of total assets), and 21.2% 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 68
Relative position
BE, all sectors
reference
Sector 68
lower
← 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
78.8%
Return on assets
1.8%
Age of the figures
9 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 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
56 d early
2023
20 d early
2022
24 d early
2021
48 d early
2020
46 d early
2019
43 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€1.72M▲ 6.3%
2024 · €1.61M
2019: €1.94M
2020: €1.31M
2021: €1.19M
2022: €1.22M
2023: €1.52M
2024: €1.61M
2019 → 2025
EBIT margin
7.7%▼ 21.6pp
2024 · 29.3%
2019: 32.4%
2020: 54.4%
2021: 271.2%
2022: 30.8%
2023: 39.3%
2024: 29.3%
2019 → 2025
Net result
€500k▼ 36.4%
2024 · €787k
2019: €319k
2020: €614k
2021: €3.37M
2022: €475k
2023: €1.01M
2024: €787k
2019 → 2025
Working capital
€852k▼ 63.8%
2024 · €2.36M
2019: €97k
2020: €137k
2021: €3.97M
2022: €2.95M
2023: €2.77M
2024: €2.36M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€1.19M-€1.22M▲ 2.1%€1.52M▲ 24.6%€1.61M▲ 6.4%€1.72M▲ 6.3%
Equity€19.93M-€18.90M▼ 5.1%€22.68M▲ 20.0%€22.66M▼ 0.1%€22.36M▼ 1.3%
Operating result€3.23M-€375k▼ 88.4%€596k▲ 58.8%€473k▼ 20.6%€132k▼ 72.1%
Net result€3.37M-€475k▼ 85.9%€1.01M▲ 113%€787k▼ 22.4%€500k▼ 36.4%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 72% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €28.38M
Fixed assets
€25.90M ▲ 3.0%
Current assets
€2.49M ▼ 37.1%
Equity and liabilities €28.38M
Equity
€22.36M ▼ 1.3%
Provisions
€688k ▼ 3.9%
Debt
€5.33M ▼ 6.9%
Debt's share of the balance-sheet total falls from 19.7% to 18.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€1.10M▼
2024 · €1.38M
Cash flow
€1.46M▼
2024 · €1.69M
Current ratio
1.52▼
2024 · 2.48
Debt to equity
0.24▼
2024 · 0.25
ROE
2.2%▼
2024 · 3.5%
ROA
1.8%▼
2024 · 2.7%
Interest coverage
10.69▼
2024 · 14.55
Debt ≤ 1 year
€1.63M▲
2024 · €1.60M
Debt > 1 year
€3.70M▼
2024 · €4.13M
Income taxes
€47k▼
2024 · €181k
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 · 79 lines
Balance sheet
Code20242025
Assets
Total assets20/58€29.11M€28.38M▼
Fixed assets21/28€25.15M€25.90M▲
Tangible fixed assets22/27€23.83M€24.57M▲
Land and buildings22€23.24M€23.64M▲
Assets under construction and advance payments27€585k€934k▲
Financial fixed assets28€1.32M€1.32M=
Affiliated companies280/1€1.32M€1.32M=
Participating interests280€1.32M€1.32M=
Other financial fixed assets284/8€0€0=
Amounts receivable and cash guarantees285/8€0€0=
Current assets29/58€3.95M€2.49M▼
Amounts receivable after more than one year29€73k€10k▼
Other amounts receivable291€73k€10k▼
Amounts receivable within one year40/41€177k€295k▲
Trade receivables40€104k€68k▼
Other amounts receivable41€73k€227k▲
Current investments50/53€1.78M€1.50M▼
Other investments51/53€1.78M€1.50M▼
Cash at bank and in hand54/58€1.92M€676k▼
Deferred charges and accrued income490/1€4k€4k▲
Equity and liabilities
Total equity and liabilities10/49€29.11M€28.38M▼
Equity10/15€22.66M€22.36M▼
Contributions10/11€2.10M€2.10M=
Capital10€2.10M€2.10M=
Issued capital100€2.10M€2.10M=
Revaluation surpluses12€14.72M€14.20M▼
Reserves13€3.65M€4.09M▲
Non-distributable reserves130/1€894k€894k=
Legal reserve130€210k€210k=
Reserves not available under the articles1311€684k€684k=
Tax-exempt reserves132€2.15M€2.06M▼
Distributable reserves133€613k€1.13M▲
Profit (loss) carried forward14€2.19M€1.98M▼
Provisions and deferred taxes16€715k€688k▼
Deferred taxes168€715k€688k▼
Amounts payable17/49€5.73M€5.33M▼
Amounts payable after more than one year17€4.13M€3.70M▼
Financial debts170/4€4.11M€3.68M▼
Credit institutions173€4.11M€3.68M▼
Other amounts payable178/9€21k€21k=
Amounts payable within one year42/48€1.60M€1.63M▲
Current portion of amounts payable after more than one year42€532k€433k▼
Trade debts44€217k€401k▲
Suppliers440/4€217k€401k▲
Taxes, remuneration and social security45€47k-
Taxes450/3€47k-
Other amounts payable47/48€800k€800k=
Income statement
Code20242025
Operating income70/76A€1.88M€1.97M▲
Turnover70€1.61M€1.72M▲
Other operating income74€270k€255k▼
Operating charges60/66A€1.41M€1.84M▲
Goods for resale, raw materials and consumables60€15k€65k▲
Purchases600/8€15k€65k▲
Services and other goods61€218k€590k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€905k€965k▲
Other operating charges640/8€273k€219k▼
Operating profit (loss)9901€473k€132k▼
Financial income75/76B€576k€492k▼
Recurring financial income75€576k€492k▼
Income from financial fixed assets750€563k€490k▼
Income from current assets751€12k€2k▼
Other financial income752/9€2k€0▼
Financial charges65/66B€98k€105k▲
Recurring financial charges65€98k€105k▲
Debt charges650€95k€103k▲
Other financial charges652/9€3k€2k▼
Profit (loss) for the period before taxes9903€951k€519k▼
Transfer from deferred taxes780€16k€28k▲
Income taxes67/77€181k€47k▼
Taxes670/3€181k€52k▼
Tax adjustments and reversals of tax provisions77-€5k
Profit (loss) for the period9904€787k€500k▼
Transfer from tax-exempt reserves789€44k€83k▲
Profit (loss) for the period to be appropriated9905€831k€583k▼
Appropriation of the result
Profit (loss) to be appropriated9906€2.99M€2.78M▼
Profit (loss) brought forward from the previous period14P€2.16M€2.19M▲
Profit to be distributed694/7€800k€800k=
Return on contributions (dividend)694€300k€300k=
Directors or managers695€500k€500k=
The notes to these accounts (43 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
18-09
State Gazette act
Reappointments: Sarkri NV (director) and Cyga BV (director)Permanent representatives: Kristof Houben and Michel Demot10 facts ▸
State Gazette act
Reappointments: Sarkri NV (director) and Cyga BV (director)
Permanent representatives: Kristof Houben and Michel Demot10 facts ▸
- General meeting, 12-06-2026
- Director reappointment, Sarkri NV (director)
- Permanent representative, Kristof Houben (permanent representative)
- Director reappointment, Cyga BV (director)
- Permanent representative, Michel Demot (permanent representative)
- Board composition, Philip Demot (director)
- Board composition, Cyga BV (director)
- Board composition, Sarkri NV (director)
- Board composition, TDevelopment BV (director)
- Board composition, Juunooh BV (director)
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
05-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
13-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2019net €3.37M ▲449%
Operating result €3.23M, net result €3.37M, both a record.
31-12
Financial
Liquidity quadruplescurrent ratio 4.53
Current ratio from 1.12 to 4.53.
15-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Equity above €10MEq €17.06M ▲272%
2 profitable years in a row build equity to €17.06M.
18-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
19-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 directors, no change since 2026
CYGA
CurrentDirector · since 12-06-2026 · Private limited company · perm. rep.: Michel Demot
SARKRI
CurrentDirector · since 12-06-2026 · Public limited company · perm. rep.: Kristof Houben
12-06-2026
CYGA: Mandate renewed as Director
12-06-2026
SARKRI: Mandate renewed as Director
Location & real-estate footprint
Registered office, Hasselt · 1 establishment unit since 1988
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.
Herkenrodesingel 4B3500 HasseltGround area
6,206 m²
Building footprint
3,195 m²
Volume, LiDAR
27,093 m³
2 parcels, Flanders · tallest building 19.5 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
DECOCONSTRUCT
since 19882.032.625.892
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72015C0784/00H000 | Flanders | 3,972 m² | 1 · 2,573 m² | 8.1 m · 2 fl. |
| 71327G0668/00T000 | Flanders | 2,234 m² | 1 · 622 m² | 19.5 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
4 connected companiesLinked via shared directors
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Acquisitions and mergers
2 transactionsReceived in a demerger part of:DEHOLI
Received in a demerger part of:DMI VASTGOED
Similar companies · same sector, comparable size
Eoly Energy
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Cortenbergh 107
BE 0700.385.629
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Abaco Belgium
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INTERVEST BERINGEN
BE 0767.698.481
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BROUCKERE TOWER INVEST
BE 0874.491.622
Brussel · Eq €21.87M
Of 7,320 companies in sector 68110 we hold annual accounts for 5,381. 673 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 formPublic limited company
Founded16-12-1987
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
41001General construction of residential buildings
43120Site preparation
68203Renting and operating of own or leased non-residential real estate, excluding land
82100Office administrative and support services
87101Residential care activities
Sources
Crossroads Bank for EnterprisesNational Bank · 38 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.