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 2025 and 2026.
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Tight liquidity NBB
Cash and receivables cover 42 % of short-term debt in 2026; threshold 65 %.
Financials
Financial year 2026
Hitachi Energy Belgium from Zaventem, company number BE0725921769, closed financial year 2026 with a result of € -15.1 million after tax. For that financial year Hitachi Energy Belgium recorded revenue of € 112.2 million and equity of € 31.4 million. Compared with financial year 2025, the result moved from € -38.3 million to € -15.1 million. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on October 22, 2026.
€ 31.4 million
▼ 32% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -15.1 million
▲ 61 % less loss than in 2025
Profit after tax over the fiscal year.
€ 175,062
▼ 99% vs 2025
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -24.6 million.
People and assets in 2026
276.1
▲ 27.1 vs 2025
Average over the fiscal year, from the social balance sheet.
€ 30.9 million
▲ 5% vs 2025
€ 111,900 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.
€ 417,584
▼ 11% vs 2025
Book value of vehicles, furniture and equipment.
Debts at end 2026
€ 6.7 million
Loans from banks and other lenders, long and short.
€ 56.1 million
▼ 8% vs 2025
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 216 days on average.
€ 8.6 million
▲ 4% vs 2025
Taxes, VAT and social contributions still to pay.
| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Revenue | € 66,477,524 | € 87,116,941 | € 97,022,302 | € 112,190,534 | ▲ 16% |
| Profit after taxes | € -10,503,216 | € -28,218,684 | € -38,314,519 | € -15,090,291 | ▲ € 23.2 million |
| Equity | € 6,019,217 | € 5,800,533 | € 46,486,014 | € 31,395,723 | ▼ 32% |
| Total debts | € 67,091,092 | € 111,776,883 | € 134,788,829 | € 153,778,744 | ▲ 14% |
| Cash | - | € 7,149,381 | € 29,960,192 | € 175,062 | ▼ 99% |
| Land & buildings | € 10,757,398 | € 10,575,400 | € 10,027,892 | € 9,343,879 | ▼ 7% |
| Retained profit | € -29,187,742 | € -29,406,426 | € -9,556,427 | € -24,646,717 | ▼ € 15.1 million |
| Bank debt | € 39,829,702 | € 37,000,000 | € 0 | € 6,651,809 | |
| Balance sheet total | € 73,866,404 | € 123,854,240 | € 184,816,535 | € 187,182,834 | ▲ 1% |
| Employees (FTE) | 197.8 | 215 | 249 | 276.1 | ▲ 27.1 |
Key figures of Hitachi Energy Belgium, fiscal years 2023 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 31 October 2027.
What happened to Hitachi Energy Belgium?
What happened at Hitachi Energy Belgium in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Tom Arnold A De Wachter stepped down as director. NBB
- Maurits Ornstein stepped down as director. NBB
- New annual accounts for financial year 2026: loss of € 15.1 million. Source: NBB ↗
- Marijke Achten stepped down as director. NBB
- Tom Arnold A De Wachter became a director. NBB
- Maurits Ornstein became a director. NBB
- Marijke Achten became a director. NBB
- New establishment in Charleroi. KBO
In short
From € 10.5 million loss in 2023 to € 15.1 million loss in 2026.
Paid € 279,363 in corporate taxes since 2023.
Management
The shares are held by Hitachi Energy Ltd (100%).
Directors
According to the 2026 annual accounts
Maurits Ornstein
Chairman of the board
since 2025 · until 2031
Marijke Achten
Director
since 2020 · until 2026
Tom Arnold A De Wachter
Director
since 2026 · until 2032
Shareholders
Hitachi Energy Ltd
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Belgicastraat 18 box 1
1930 Zaventem
Zoning de Jumet,avenue Centrale 10
6040 Charleroi
Active since 31 October 2019
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 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
- 0725.921.769
- VAT number
- BE 0725.921.769
- Registered office
- Belgicastraat 18 bus 1, 1930 Zaventem
- Names & denominations
- Hitachi Energy Belgium
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 30 April 2019
- Peppol
- Active · Active since 15 Jan 2026
- Activities · NACE
Vervaardiging van elektronische onderdelen
Vervaardiging van meet-, controle- en navigatie-instrumenten en -apparatuur
Installatie van industriële machines, toestellen en werktuigen
Vervaardiging van elektromotoren en van elektrische generatoren en transformatoren
Ontwerpen van computerprogramma’s
Groothandel in andere machines en werktuigen, neg
Ontwerpen en programmeren van computerprogramma's
Groothandel in andere machines en werktuigen, n.e.g.