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 18 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
25 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
HEPPEN RETAIL ASSOCIATE from Zaventem, company number BE0893618933, closed financial year 2025 with a result of € -328,860 after tax. For that financial year HEPPEN RETAIL ASSOCIATE recorded revenue of € 2.8 million and equity of € 3.5 million. Compared with financial year 2024, the result moved from € 10,453 to € -328,860. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 25, 2026.
€ 3.5 million
▼ 8% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -328,860
▼ still € 10,453 profit in 2024
Profit after tax over the fiscal year.
€ 28,365
▲ 116% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -318,406.
People and assets in 2025
5.8
▼ 2.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 183,873
▼ 4% vs 2024
€ 31,700 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.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 285,090
▲ 24% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 34 days on average.
€ 31,967
▲ 22% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 61,803 | € 419,382 | € 2,131,716 | € 2,765,978 | ▲ 30% |
| Profit after taxes | € -73,019 | € -260,601 | € 10,453 | € -328,860 | ▼ € 339,313 |
| Equity | € 2,121,909 | € 1,861,307 | € 3,871,761 | € 3,542,901 | ▼ 8% |
| Total debts | € 207,041 | € 124,589 | € 343,468 | € 402,839 | ▲ 17% |
| Cash | € 26,170 | - | € 13,145 | € 28,365 | ▲ 116% |
| Retained profit | € -1,592,223 | € -1,852,824 | € 10,453 | € -318,406 | ▼ € 328,860 |
| Balance sheet total | € 2,328,949 | € 1,985,897 | € 4,215,229 | € 3,945,741 | ▼ 6% |
| Employees (FTE) | 0.5 | 0.9 | 8.5 | 5.8 | ▼ 2.7 |
Key figures of HEPPEN RETAIL ASSOCIATE, 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 HEPPEN RETAIL ASSOCIATE?
What happened at HEPPEN RETAIL ASSOCIATE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Giosino Cornacchia stepped down as director. NBB
- Pascal Boon stepped down as director. NBB
- Matthias Locker stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 328,860 (▼ € 339,313 vs 2024). Source: NBB ↗
- New establishment in Brugge. KBO
- Matthias Locker became a director. NBB
- Giosino Cornacchia became a director. NBB
- Pascal Boon became a director. NBB
In short
From € 73,019 loss in 2022 to € 328,860 loss in 2025.
Best year ever: 2024, with € 10,453 profit.
Pays suppliers within 34 days on average.
Management
The shares are held by CARREFOUR BELGIUM (100%).
Directors
According to the 2025 annual accounts
Giosino Cornacchia
Director
Also active at: STIGAM, CARUM, GROSFRUIT, ORTHROS, SCHILCO, Market D4 CBRA, Market B2 CBRA, Market C3 CBRA +5 more
since 2025 · until 2028
Pascal Boon
Director
Also active at: FILUNIC, STIGAM, CARUM, ORTHROS, SCHILCO, ECLAIR, Market D4 CBRA, Market B2 CBRA +5 more
since 2025 · until 2028
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Da Vincilaan 3 box 3
1930 Zaventem
Avenue de Waterloo 60
6000 Charleroi
Active since 31 January 2024
Boulevard Audent 6
6000 Charleroi
Active since 29 January 2024
Amerikaanse straat 80-82
1050 Elsene
Active since 28 May 2025
Oostendse Steenweg 146
8000 Brugge
Active since 18 May 2026
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 25 companies are registered at this address.
All companies at this address →Warenhuizen Alma
€ 348,429 revenue · 2025
FILUNIC same network
STIGAM same network
€ 10.5 million revenue · 2025
GROSFRUIT same network
€ 2.5 million revenue · 2025
PepsiCo Services
€ 41.1 million revenue · 2024
+20 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0893.618.933
- VAT number
- BE 0893.618.933
- Registered office
- Da Vincilaan 3 bus 3, 1930 Zaventem
- Names & denominations
- HEPPEN RETAIL ASSOCIATE · HEPPEN R.A.
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 21 November 2007
- Peppol
- Active · Active since 20 Nov 2020
- Activities · NACE
Niet-gespecialiseerde detailhandel waarbij voedings- en genotmiddelen overheersen
Hypermarkten (verkoopsopp. vanaf 2.500 m2)
Detailhandel in niet-gespecialiseerde winkels waarbij voedings- en genotmiddelen overheersen (verkoopsoppervlakte tussen 100 m² en minder dan 400 m²)
Detailhandel in niet-gespecialiseerde winkels waarbij voedings- en genotmiddelen overheersen (verkoopsoppervlakte = 2500 m²)