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.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 17 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
MANAGEMENT SOURCE from Herentals, company number BE0841141834, closed financial year 2025 with a result of € -29,109 after tax. For that financial year MANAGEMENT SOURCE recorded a gross margin of € -17,038 and equity of € -191,773. Compared with financial year 2024, the result moved from € -27,788 to € -29,109. The company made a loss. 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 June 22, 2026.
€ -191,773
▼ € 29,109 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -29,109
▼ 5 % more loss than in 2024
Profit after tax over the fiscal year.
€ 34,169
▲ € 27,509 vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -197,973.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 1.2 million
▲ 26% vs 2024
Supplier invoices still open on the last day of the fiscal year.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -17,956 | € -17,613 | € -19,508 | € -17,038 | ▲ € 2,471 |
| Profit after taxes | € -22,225 | € -22,674 | € -27,788 | € -29,109 | ▼ € 1,321 |
| Equity | € -112,203 | € -134,877 | € -162,665 | € -191,773 | ▼ € 29,109 |
| Total debts | € 724,716 | € 1,008,637 | € 1,464,715 | € 1,833,892 | ▲ 25% |
| Cash | € 10,452 | € 3,990 | € 6,660 | € 34,169 | ▲ € 27,509 |
| Retained profit | € -118,403 | € -141,077 | € -168,865 | € -197,973 | ▼ € 29,109 |
| Balance sheet total | € 612,513 | € 873,760 | € 1,302,050 | € 1,642,118 | ▲ 26% |
Key figures of MANAGEMENT SOURCE, 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 MANAGEMENT SOURCE?
What happened at MANAGEMENT SOURCE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 29,109. Source: NBB ↗
- PHD Development BV became a director. NBB
- Caspanni Participatie BO became a director. NBB
- Wim Heylen became a director. NBB
- Didier Clerx became a director. NBB
- New establishment in Herentals. KBO
- Start of the company according to the CBE. KBO
In short
From € 22,225 loss in 2022 to € 29,109 loss in 2025.
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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 HEYLEN WAREHOUSES DEVELOPMENT BELGIUM comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
MANAGEMENT SOURCEBehind MANAGEMENT SOURCE are Wim Heylen, PHD Development BV, Caspanni Participatie BO and Didier Clerx. The shares are held by HEYLEN WAREHOUSES DEVELOPMENT BELGIUM (100%).
Directors
According to the 2025 annual accounts
Wim Heylen
Director
Also active at: RONALD VANDEPUTTE, Eltra, Société Anversoise Immobilière et de Placements du Centre, LANCKRIET ANDRE, HERMANS HEFTRUCKS, Heylen Remi, EURO FRESH FOODS, TUVO +97 more
since 2020
Director · represented by Philippe Deschilder
Also active at: HEBRIMO, ANTWERP EAST PORTSIDE 21, EXPERIENCE 2 BUILD, POWERmc Maintenance & Construct, HEYLEN WAREHOUSES DEVELOPMENT BELGIUM, EUROPE INLAND LOGISTIC CAMPUS 21, HEBRIMO SOLAR 21, Heylen Campus Geel 21 +10 more
since 2021
Director · represented by Ralph Caspanni
Also active at: HEBRIMO, ANTWERP EAST PORTSIDE 21, EXPERIENCE 2 BUILD, HEYLEN WAREHOUSES DEVELOPMENT BELGIUM, EUROPE INLAND LOGISTIC CAMPUS 21, HEBRIMO SOLAR 21, Heylen Campus Geel 21, EILC SOLAR 21 +9 more
since 2021
Didier Clerx
Director
Also active at: EURO FRESH FOODS, BORETTI BELGIO, HEAT 21, CAROLEASE 12A, CONFOOD, L.I.N.K., PLUG 21, AEP SOLAR 21 +8 more
since 2020
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Diamantstraat (HRT) 8 box 214
2200 Herentals
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0841.141.834
- VAT number
- BE 0841.141.834
- Registered office
- Diamantstraat (HRT) 8 bus 214, 2200 Herentals
- Names & denominations
- MANAGEMENT SOURCE
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 15 November 2011
- Peppol
- Active · Active since 18 Dec 2025
- Activities · NACE
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