Financials
Financial year 2025
TARGET 45 from Waterloo, company number BE0446358465, closed financial year 2025 with a result of € 245,402 after tax. For that financial year TARGET 45 recorded a gross margin of € 296,146 and equity of € 236,072. Compared with financial year 2024, the result moved from € -17,925 to € 245,402. 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 June 20, 2026.
€ 236,072
▲ € 245,402 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 245,402
▲ still € 17,925 loss in 2024
Profit after tax over the fiscal year.
€ 126,043
▲ € 121,170 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 € 231,072.
People and assets in 2025
€ 24,438
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 2,925
▲ € 2,217 vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 2,625
▲ 23% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 36,114 | € 44,721 | € 16,588 | € 296,146 | ▲ € 279,559 |
| Profit after taxes | € -2,945 | € 13,142 | € -17,925 | € 245,402 | ▲ € 263,326 |
| Equity | € -4,547 | € 8,595 | € -9,329 | € 236,072 | ▲ € 245,402 |
| Total debts | € 168,586 | € 109,786 | € 101,730 | € 8,950 | ▼ 91% |
| Cash | € 18,784 | € 5,284 | € 4,873 | € 126,043 | ▲ € 121,170 |
| Land & buildings | € 136,201 | € 111,585 | € 86,969 | € 83,154 | ▼ 4% |
| Retained profit | € -9,547 | € 3,595 | € -14,329 | € 231,072 | ▲ € 245,402 |
| Bank debt | € 44,124 | € 17,866 | € 1,394 | € 0 | ▼ 100% |
| Balance sheet total | € 164,039 | € 118,381 | € 92,400 | € 245,022 | ▲ 165% |
Key figures of TARGET 45, 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 TARGET 45?
What happened at TARGET 45 in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 245,402. Source: NBB ↗
- MARTIN HEYNDERICKX became a director. NBB
- New establishment in Waterloo. KBO
- Start of the company according to the CBE. KBO
In short
From € 2,945 loss in 2022 to € 245,402 profit in 2025.
Paid € 35,862 in corporate taxes since 2022.
Best year ever: 2025, with € 245,402 profit.
Management
Behind TARGET 45 is MARTIN HEYNDERICKX.
Directors
According to the 2025 annual accounts
MARTIN HEYNDERICKX
Director
since 2021
Establishments
Establishment units
Physical locations of this company
Avenue Henri Houssaye 21
1410 Waterloo
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0446.358.465
- VAT number
- BE 0446.358.465
- Registered office
- Avenue Henri Houssaye 21, 1410 Waterloo
- Names & denominations
- TARGET 45
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 9 January 1992
- Peppol
- Active · Active since 8 Dec 2025
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