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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Busy address KBO
12 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
HERFURTH LOGISTICS from Antwerpen, company number BE0445364909, closed financial year 2025 with a result of € -1.2 million after tax. For that financial year HERFURTH LOGISTICS recorded revenue of € 40.7 million and equity of € 708,345. Compared with financial year 2024, the result moved from € -791,681 to € -1.2 million. The company made a loss. The buffer shrank hard: equity is 62 % below last year. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on October 15, 2026.
€ 708,345
▼ 62% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -1.2 million
▼ 45 % more loss than in 2024
Profit after tax over the fiscal year.
€ 160,906
▲ 9% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 212,345.
People and assets in 2025
75.8
▲ 2.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 5.5 million
▲ 5% vs 2024
€ 73,200 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 423,665
▼ 13% vs 2024
Of which on lease € 191,517.
Debts at end 2025
€ 3.2 million
▲ € 2.9 million vs 2024
€ 41,225 is repaid this year. At this pace the long-term loan is gone in ≈ 77 years.
€ 6.8 million
▼ 23% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 70 days on average.
€ 583,410
▲ 6% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 60,689,634 | € 37,813,163 | € 38,596,546 | € 40,699,672 | ▲ 5% |
| Profit after taxes | € 1,076,870 | € -58,877 | € -791,681 | € -1,151,392 | ▼ € 359,711 |
| Equity | € 2,710,295 | € 2,651,418 | € 1,859,737 | € 708,345 | ▼ 62% |
| Total debts | € 8,798,210 | € 21,690,949 | € 9,621,107 | € 10,593,627 | ▲ 10% |
| Cash | € 85,364 | € 144,719 | € 147,300 | € 160,906 | ▲ 9% |
| Land & buildings | € 9,669 | € 7,707 | € 7,508 | € 5,364 | ▼ 29% |
| Retained profit | € 2,214,295 | € 2,155,418 | € 1,363,737 | € 212,345 | ▼ 84% |
| Dividend | € 1,076,870 | € 0 | € 0 | € 0 | |
| Bank debt | € 364,670 | € 329,176 | € 291,866 | € 3,182,228 | ▲ € 2.9 million |
| Balance sheet total | € 11,566,505 | € 24,458,387 | € 11,596,864 | € 11,359,971 | ▼ 2% |
| Employees (FTE) | 80.2 | 77 | 73.3 | 75.8 | ▲ 2.5 |
Key figures of HERFURTH LOGISTICS, 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 HERFURTH LOGISTICS?
What happened at HERFURTH LOGISTICS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- V. MALDAGUE stepped down as director. NBB
- O. D'HOOP stepped down as director. NBB
- GMS BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 1.2 million. filed late Source: NBB ↗
- GMS BV became a director. NBB
- New establishment in Steenokkerzeel. KBO
- V. MALDAGUE became a director. NBB
- O. D'HOOP became a director. NBB
In short
From € 1.1 million profit in 2022 to € 1.2 million loss in 2025.
Paid € 626,626 in corporate taxes since 2022.
Best year ever: 2022, with € 1.1 million profit.
Paid out € 1.1 million in dividends to the owners in total.
Management
The stake of CETRACO comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
HERFURTH LOGISTICSThe shares are held by CETRACO (99.5%).
Directors
According to the 2025 annual accounts
V. MALDAGUE
Director
Also active at: BEST & OSTERRIETH, Macotruck, Bando Travel Service, HERFURTH INVESTMENT, GANDATRADE, HERFURTH & CO, HERFURTH SHIPBROKERS, HERFURTH TRAVEL +1 more
since 2021 · until 2027
O. D'HOOP
Managing director
Also active at: BEST & OSTERRIETH, Macotruck, HERFURTH INVESTMENT, GANDATRADE, HERFURTH & CO, HERFURTH SHIPBROKERS, HERFURTH TRAVEL, HANDICO TRUCKING
since 2021 · until 2027
Director
since 2025 · until 2027
Shareholders
99.5%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
D'Herbouvillekaai 42
2020 Antwerpen
Koggenstraat 21
8380 Brugge
Active since 1 January 2010
Vliegveld 745
1820 Steenokkerzeel
Active since 19 September 2022
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 12 companies are registered at this address.
All companies at this address →BEST & OSTERRIETH same network
€ 861 gross margin · 2025
JOHN P. BEST & Co
€ -50,960 gross margin · 2025
MARINZEE
€ 74,988 gross margin · 2025
Scandinavian Stevedoring Company
€ 131,179 revenue · 2025
CETRACO same network
€ 8.2 million revenue · 2025
+7 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0445.364.909
- VAT number
- BE 0445.364.909
- Registered office
- D'Herbouvillekaai 42, 2020 Antwerpen
- Names & denominations
- HERFURTH LOGISTICS
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 7 October 1991
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Logistieke diensten
Expeditiekantoren
Overige vervoerondersteunende activiteiten