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 2 % of short-term debt in 2024; threshold 65 %.
Financials
Financial year 2024
HKN 11 from Elsene, company number BE0612971110, closed financial year 2024 with a result of € -130,116 after tax. For that financial year HKN 11 recorded a gross margin of € 110,140 and equity of € 120,444. Compared with financial year 2023, the result moved from € 25,051 to € -130,116. The company made a loss. The buffer shrank hard: equity is 52 % below last year. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 25, 2025.
€ 120,444
▼ 52% vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -130,116
▼ still € 25,051 profit in 2023
Profit after tax over the fiscal year.
€ 24,195
▲ € 23,597 vs 2023
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 101,844.
People and assets in 2024
€ 34,607
▲ 6% vs 2023
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 43,330
▼ 27% vs 2023
Book value of vehicles, furniture and equipment.
Debts at end 2024
€ 1.6 million
▼ 3% vs 2023
€ 11,598 is repaid this year. At this pace the long-term loan is gone in ≈ 21 years.
€ 13,493
▼ 97% vs 2023
Supplier invoices still open on the last day of the fiscal year.
€ 8,541
▼ 76% vs 2023
Taxes, VAT and social contributions still to pay.
| 2021 | 2022 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|---|
| Gross margin | € 309,731 | € 319,821 | € 201,179 | € 110,140 | ▼ 45% |
| Profit after taxes | € 103,923 | € 121,688 | € 25,051 | € -130,116 | ▼ € 155,167 |
| Equity | € 103,821 | € 225,509 | € 250,559 | € 120,444 | ▼ 52% |
| Total debts | € 1,626,900 | € 2,040,940 | € 2,482,172 | € 2,208,238 | ▼ 11% |
| Cash | - | € 201,324 | € 599 | € 24,195 | ▲ € 23,597 |
| Land & buildings | € 351,624 | € 695,213 | € 1,029,081 | € 1,369,487 | ▲ 33% |
| Retained profit | € 85,221 | € 206,909 | € 231,959 | € 101,844 | ▼ 56% |
| Bank debt | € 1,226,944 | € 1,421,942 | € 1,629,665 | € 1,583,140 | ▼ 3% |
| Balance sheet total | € 1,730,721 | € 2,266,448 | € 2,732,732 | € 2,328,682 | ▼ 15% |
Key figures of HKN 11, fiscal years 2021 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 31 July 2026.
What happened to HKN 11?
What happened at HKN 11 in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2024: loss of € 130,116 (▼ € 155,167 vs 2023). Source: NBB ↗
- New establishment in Vilvoorde. KBO
- Start of the company according to the CBE. KBO
In short
From € 103,923 profit in 2021 to € 130,116 loss in 2024.
Paid € 54,902 in corporate taxes since 2021.
Best year ever: 2022, with € 121,688 profit.
Management
Behind HKN 11 is Hakan Malkoc. Hakan Malkoc is also behind IMMO N2E and SH IMMO.
Establishments
Establishment units
Physical locations of this company
Louizalaan 65 box 11
1050 Elsene
Hendrik I-lei 14
1800 Vilvoorde
Active since 25 March 2016
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0612.971.110
- VAT number
- BE 0612.971.110
- Registered office
- Louizalaan 65 bus 11, 1050 Elsene
- Names & denominations
- HKN 11
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 25 March 2015
- Peppol
- Active · Active since 8 Jan 2026
- Activities · NACE
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