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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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Tight liquidity NBB
Cash and receivables cover 1 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
H2O from Ledegem, company number BE0876537827, closed financial year 2025 with a result of € -30,913 after tax. For that financial year H2O recorded a gross margin of € 20,490 and equity of € -127,066. Compared with financial year 2024, the result moved from € 17,757 to € -30,913. 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 July 2, 2026.
€ -127,066
▼ € 30,913 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -30,913
▼ still € 17,757 profit in 2024
Profit after tax over the fiscal year.
€ 617
▼ 86% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -282,066.
Debts at end 2025
€ 271,987
▼ 12% vs 2024
€ 54,845 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 1,769
▼ 81% vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 45,584 | € 87,374 | € 65,799 | € 20,490 | ▼ 69% |
| Profit after taxes | € 8,464 | € 42,659 | € 17,757 | € -30,913 | ▼ € 48,670 |
| Equity | € -156,569 | € -113,910 | € -96,153 | € -127,066 | ▼ € 30,913 |
| Total debts | € 625,525 | € 572,077 | € 578,999 | € 545,063 | ▼ 6% |
| Cash | € 6,243 | € 4,073 | € 4,517 | € 617 | ▼ 86% |
| Land & buildings | € 376,837 | € 365,512 | € 358,472 | € 346,743 | ▼ 3% |
| Retained profit | € -311,569 | € -268,910 | € -251,153 | € -282,066 | ▼ € 30,913 |
| Bank debt | € 353,988 | € 303,453 | € 309,524 | € 271,987 | ▼ 12% |
| Balance sheet total | € 468,956 | € 458,167 | € 482,846 | € 417,997 | ▼ 13% |
Key figures of H2O, 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 H2O?
What happened at H2O in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 30,913 (▼ € 48,670 vs 2024). Source: NBB ↗
- Curd Vanmarcke became a director. NBB
- Ida Vanmarcke stepped down as director. NBB
- New establishment in Ledegem. KBO
- Start of the company according to the CBE. KBO
In short
From € 8,464 profit in 2022 to € 30,913 loss in 2025.
Paid € 516 in corporate taxes since 2022.
Best year ever: 2023, with € 42,659 profit.
Management
Behind H2O is Curd Vanmarcke. Curd Vanmarcke is also behind VANMARCKE-DELZEYNE and GREEN DIAMOND.
Directors
According to the 2025 annual accounts
since 2025
Ida Vanmarcke
Director
· until 2025
Establishments
Establishment units
Physical locations of this company
Rollegem-Kapelsestraat 35
8880 Ledegem
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0876.537.827
- VAT number
- BE 0876.537.827
- Registered office
- Rollegem-Kapelsestraat 35, 8880 Ledegem
- Names & denominations
- H2O
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 7 October 2005
- Peppol
- Active · Active since 13 Dec 2025
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