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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Tight liquidity NBB
Cash and receivables cover 42 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
DEN HOED from Kalmthout, company number BE0446007285, closed financial year 2025 with a result of € 3.3 million after tax. For that financial year DEN HOED recorded revenue of € 1.7 million and equity of € 36.9 million. Compared with financial year 2024, the result moved from € 1.6 million to € 3.3 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 15, 2026.
€ 36.9 million
▲ 10% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 3.3 million
▲ 102% vs 2024
Profit after tax over the fiscal year.
€ 317,434
▼ 49% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 19.1 million.
People and assets in 2025
3
▲ 0.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 206,866
▲ 24% vs 2024
€ 69,000 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.
€ 56,866
▼ 37% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 15.2 million
▲ 20% vs 2024
€ 591,720 is repaid this year. At this pace the long-term loan is gone in ≈ 7 years.
€ 66,780
▼ 67% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 10 days on average.
€ 26,384
▼ 57% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 564,445 | € 698,573 | € 1,187,438 | € 1,684,226 | ▲ 42% |
| Profit after taxes | € -36,302 | € -115,908 | € 1,642,579 | € 3,324,505 | ▲ 102% |
| Equity | € 32,097,746 | € 31,981,838 | € 33,624,417 | € 36,948,922 | ▲ 10% |
| Total debts | € 20,047,088 | € 28,769,527 | € 18,105,515 | € 19,257,068 | ▲ 6% |
| Cash | € 2,557,084 | € 2,183,704 | € 622,452 | € 317,434 | ▼ 49% |
| Retained profit | € 14,207,746 | € 14,091,838 | € 15,734,417 | € 19,058,922 | ▲ 21% |
| Bank debt | € 16,300,000 | € 23,942,214 | € 12,675,887 | € 15,222,656 | ▲ 20% |
| Balance sheet total | € 52,144,834 | € 60,751,365 | € 51,729,932 | € 56,205,990 | ▲ 9% |
| Employees (FTE) | 0.9 | 0.6 | 2.3 | 3 | ▲ 0.7 |
Key figures of DEN HOED, 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 DEN HOED?
What happened at DEN HOED in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Michaël Van Wellen stepped down as director. NBB
- Paula De Ridder stepped down as director. NBB
- Roger Van Wellen stepped down as director. NBB
- Carine Van Wellen stepped down as director. NBB
- Laurens Van Wellen stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 3.3 million (▲ 102% vs 2024). Source: NBB ↗
- Michaël Van Wellen became a director. NBB
- Paula De Ridder became a director. NBB
In short
From € 36,302 loss in 2022 to € 3.3 million profit in 2025.
Paid € 9,591 in corporate taxes since 2022.
Best year ever: 2025, with € 3.3 million profit.
Pays suppliers within 10 days on average.
Management
It owns 100% of Steen Vastgoed, 100% of Grondmaatschappij Kasteelstraat, 100% of Cadix B6, 100% of Landmark Property, 100% of Van Wellen Real Estate Development and 99.8% of New Northern Railway Center itself.
Directors
According to the 2025 annual accounts
Michaël Van Wellen
Director
Also active at: New Northern Railway Center, LaMi Real Estate, Van Wellen Real Estate Development, Cadix B6
since 2024 · until 2030
since 2024 · until 2030
Roger Van Wellen
Gedeleg.Bestuurder + Voorzitter RvB
Also active at: BOUWBEDRIJF PEETERS - DE KEERSMAEKER, New Northern Railway Center, BLUE REAL ESTATE
since 2024 · until 2030
Carine Van Wellen
Managing director
Also active at: NATUURSTEENWERKEN DE CONINCK, BOUWBEDRIJF PEETERS - DE KEERSMAEKER, VAN WELLEN STORAGE, VAN WELLEN KMO KLINKAARD, VAN MOER STORAGE, New Northern Railway Center, Grondmaatschappij Kasteelstraat, STEEN VASTGOED +12 more
since 2024 · until 2030
Laurens Van Wellen
Director
Also active at: BOUWBEDRIJF PEETERS - DE KEERSMAEKER, New Northern Railway Center, LaMi Real Estate, Van Wellen Real Estate Development, Cadix B6
since 2024 · until 2030
Establishments
Establishment units
Physical locations of this company
Missiehuislei (Heide) 30
2920 Kalmthout
Hoogboomsteenweg 96A
2950 Kapellen
Active since 1 January 2011
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 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
- 0446.007.285
- VAT number
- BE 0446.007.285
- Registered office
- Missiehuislei (Heide) 30, 2920 Kalmthout
- Names & denominations
- DEN HOED
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 10 December 1991
- Peppol
- Active · Active since 21 Oct 2026
- Activities · NACE
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen
Verhuur van woningen, exclusief sociale woningen
Activiteiten van hoofdkantoren
Administratieve en ondersteunende activiteiten ten behoeve van kantoren