Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 55 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
H estate N.V. from Herentals, company number BE0420397703, closed financial year 2025 with a result of € -708,787 after tax. For that financial year H estate N.V. recorded a gross margin of € 677,823 and equity of € 14.6 million. Compared with financial year 2024, the result moved from € -967,753 to € -708,787. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on September 2, 2026.
€ 14.6 million
▼ 5% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -708,787
▲ 27 % less loss than in 2024
Profit after tax over the fiscal year.
€ 2.1 million
▲ 63% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 4.8 million.
People and assets in 2025
0
Average over the fiscal year, from the social balance sheet.
€ 1,494
▼ 45% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 21,246
▲ 37% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 20.1 million
▲ 58% vs 2024
€ 267,553 is repaid this year. At this pace the long-term loan is gone in ≈ 28 years.
€ 51,200
▼ 63% vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 13,221,805 | € 3,878,280 | € 409,211 | € 677,823 | ▲ 66% |
| Profit after taxes | € 10,158,679 | € 1,731,725 | € -967,753 | € -708,787 | ▲ € 258,966 |
| Equity | € 14,645,286 | € 16,301,655 | € 15,333,902 | € 14,625,114 | ▼ 5% |
| Total debts | € 4,338,979 | € 15,156,405 | € 14,911,625 | € 21,732,970 | ▲ 46% |
| Cash | € 2,538,554 | € 3,275,051 | € 1,315,394 | € 2,141,566 | ▲ 63% |
| Land & buildings | € 15,675,032 | € 28,818,020 | € 28,335,648 | € 27,681,932 | ▼ 2% |
| Retained profit | € 5,019,219 | € 6,492,443 | € 5,524,690 | € 4,815,903 | ▼ 13% |
| Bank debt | € 3,980,000 | € 12,903,329 | € 12,697,426 | € 20,111,766 | ▲ 58% |
| Balance sheet total | € 22,642,086 | € 35,449,108 | € 34,065,665 | € 40,048,137 | ▲ 18% |
| Employees (FTE) | 0.8 | 0.3 | 0 | 0 |
Key figures of H estate N.V., fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to H estate N.V.?
What happened at H estate N.V. in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 708,787. filed late Source: NBB ↗
- Ilse De Reze became a director. NBB
- Elisabeth Hendrickx became a director. NBB
- Molenwater Groep NV became a director. NBB
- New establishment in Herentals. KBO
- Start of the company according to the CBE. KBO
In short
From € 10.2 million profit in 2022 to € 708,787 loss in 2025.
Paid € 3,156 in corporate taxes since 2022.
Best year ever: 2022, with € 10.2 million profit.
Management
Behind H estate N.V. are Ilse De Reze, Elisabeth Hendrickx and Molenwater Groep NV. Ilse De Reze is also behind HEAT 21, Albertstroom, VITRI and MOLENWATER GROEP. Elisabeth Hendrickx is also behind MOLENWATER GROEP. Molenwater Groep NV is also behind HEAT 21, Albertstroom, VITRI, VITRI CONSTRUCT and DE VOORZIENING.
Directors
According to the 2025 annual accounts
since 2022
since 2022
Managing director · represented by Eddy Hendrickx
Also active at: HEAT 21, Albertstroom, VITRI, VITRI CONSTRUCT, DE VOORZIENING, FUTURE FIELDS, CANAL FIELDS, TangentWorks
since 2022
Establishments
Establishment units
Physical locations of this company
Wolstraat(HRT) 35 box 2
2200 Herentals
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0420.397.703
- VAT number
- BE 0420.397.703
- Registered office
- Wolstraat(HRT) 35 bus 2, 2200 Herentals
- Names & denominations
- H estate N.V.
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 12 March 1980
- Peppol
- Active · Active since 21 Oct 2026
- Activities · NACE
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen
Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen