Financials
Financial year 2025
H-Rail from Nivelles, company number BE0778911978, closed financial year 2025 with a result of € 24,836 after tax. For that financial year H-Rail recorded a gross margin of € 77,695 and equity of € 580,445. Compared with financial year 2024, the result moved from € 36,779 to € 24,836. The company is profitable. 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 25, 2026.
€ 580,445
▲ 4% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 24,836
▼ 32% vs 2024
Profit after tax over the fiscal year.
€ 20,282
▼ 84% 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 € 412,845.
Debts at end 2025
€ 201,353
▼ 15% vs 2024
€ 36,100 is repaid this year. At this pace the long-term loan is gone in ≈ 1 years.
€ 36,076
▼ 74% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 10,351
▼ 82% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 492,696 | € 87,487 | € 122,486 | € 77,695 | ▼ 37% |
| Profit after taxes | € 336,459 | € 14,771 | € 36,779 | € 24,836 | ▼ 32% |
| Equity | € 504,059 | € 518,830 | € 555,609 | € 580,445 | ▲ 4% |
| Total debts | € 514,290 | € 684,143 | € 434,302 | € 249,175 | ▼ 43% |
| Cash | € 9,880 | € 4,166 | € 124,521 | € 20,282 | ▼ 84% |
| Retained profit | € 336,459 | € 351,230 | € 388,009 | € 412,845 | ▲ 6% |
| Bank debt | € 155,464 | € 121,445 | € 236,745 | € 201,353 | ▼ 15% |
| Balance sheet total | € 1,018,349 | € 1,202,973 | € 989,911 | € 829,619 | ▼ 16% |
Key figures of H-Rail, 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-Rail?
What happened at H-Rail in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 24,836 (▼ 32% vs 2024). Source: NBB ↗
- New establishment in Nivelles. KBO
- SP Consult SA became a director. NBB
- Cosibo SARL became a director. NBB
- Chec! BV became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 336,459 profit in 2022 to € 24,836 profit in 2025.
Paid € 117,278 in corporate taxes since 2022.
Best year ever: 2022, with € 336,459 profit.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of CHeC!, TOTAL CONSTRUCT comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
H-RailBehind H-Rail are SP Consult SA, Cosibo SARL and Chec! BV. The shares are held by CHeC! (56%) and TOTAL CONSTRUCT (12%). It owns 65% of SIABI, 65% of UNI-RAIL and 50% of H-RAIL INVEST itself.
Directors
According to the 2025 annual accounts
Director · represented by Simon Penart
since 2021
Director · represented by Simon Borremans
since 2021
Director · represented by Christof Heremans
since 2021
Shareholders
56%
12%
Participations
Establishments
Establishment units
Physical locations of this company
Avenue de Burlet 69A
1400 Nivelles
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0778.911.978
- VAT number
- BE 0778.911.978
- Registered office
- Avenue de Burlet 69A, 1400 Nivelles
- Names & denominations
- H-Rail
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 21 December 2021
- Peppol
- Active · Active since 9 Dec 2025
- Activities · NACE
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