Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
-
Tight liquidity NBB
Cash and receivables cover 42 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
H & E PROJECTS from Keerbergen, company number BE0456361739, closed financial year 2025 with a result of € 6,882 after tax. For that financial year H & E PROJECTS recorded a gross margin of € 13,986 and equity of € -242,899. Compared with financial year 2024, the result moved from € 826 to € 6,882. Profitable, and profit is growing. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 23, 2026.
€ -242,899
▲ € 6,882 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 6,882
▲ € 6,056 vs 2024
Profit after tax over the fiscal year.
€ 5,781
▲ € 4,991 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 € -304,872.
Debts at end 2025
€ 379,915
▲ 9% vs 2024
€ 6,372 is repaid this year. At this pace the long-term loan is gone in ≈ 60 years.
€ 186
▼ 89% vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 49,715 | € -9,485 | € 9,342 | € 13,986 | ▲ 50% |
| Profit after taxes | € 37,939 | € -22,722 | € 826 | € 6,882 | ▲ € 6,056 |
| Equity | € -227,884 | € -250,606 | € -249,781 | € -242,899 | ▲ € 6,882 |
| Total debts | € 328,661 | € 350,932 | € 361,925 | € 389,002 | ▲ 7% |
| Cash | € 3,622 | € 3,989 | € 790 | € 5,781 | ▲ € 4,991 |
| Land & buildings | € 95,026 | € 95,026 | € 106,386 | € 138,434 | ▲ 30% |
| Retained profit | € -289,857 | € -312,579 | € -311,754 | € -304,872 | ▲ € 6,882 |
| Bank debt | € 136,000 | € 0 | € 350,000 | € 379,915 | ▲ 9% |
| Balance sheet total | € 100,777 | € 100,325 | € 112,144 | € 146,103 | ▲ 30% |
Key figures of H & E PROJECTS, 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 & E PROJECTS?
What happened at H & E PROJECTS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 6,882 (▲ € 6,056 vs 2024). Source: NBB ↗
- Ronald Fierens became a director. NBB
- Margriet Michielsen became a director. NBB
- New establishment in Keerbergen. KBO
- Start of the company according to the CBE. KBO
In short
From € 37,939 profit in 2022 to € 6,882 profit in 2025.
Best year ever: 2022, with € 37,939 profit.
Management
Behind H & E PROJECTS are Ronald Fierens and Margriet Michielsen.
Directors
According to the 2025 annual accounts
Ronald Fierens
Director
since 2021
Margriet Michielsen
Director
since 2017
Establishments
Establishment units
Physical locations of this company
Schrieksebaan 135
3140 Keerbergen
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0456.361.739
- VAT number
- BE 0456.361.739
- Registered office
- Schrieksebaan 135, 3140 Keerbergen
- Names & denominations
- H & E PROJECTS
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 26 October 1995
- Peppol
- Active · Active since 29 Oct 2025