ACTIVE

Waterhoen Estate

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Financial year 2025 · closed on 30/12/2025

Net result

-43 k €

-136.9% YoY

Gross margin

-5,2 k €

-103.3% YoY

Equity

7,8 M €

+603.9% YoY

What does Waterhoen Estate do?

Waterhoen Estate is a Private limited company incorporated in 1977. Its main activity is: Activities of holding companies. Its registered office is in Knokke-Heist.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0418.134.435

Incorporation

20/12/1977

Legal form

Private limited company

Registered office

Tulpenlaan 5
8300 Knokke-Heist · FlandreSee on map

Contributed capital

888 809,76 €

Latest accounts

30/12/2025

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 68201Rental and operating of own or leased real estate 68201Rental and operating of own or leased real estate

Signals

Solid equityLow riskGood liquidity

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	-5,2 k €	-103%	159,7 k €	+221%	49,8 k €	-83.9%	309,9 k €	+187%	108,1 k €	-66.7%	324 k €	+218%	101,8 k €	+153%	40,3 k €	-16.7%	48,4 k €	+65.1%	29,3 k €	+21.4%	24,1 k €	-26.2%	32,7 k €	-1.0%	33 k €	+27.3%	25,9 k €	+9.8%	23,6 k €	+199%	7,9 k €	-85.4%	53,9 k €	+5.7%	51 k €	+0.6%	50,7 k €	+13.7%	44,6 k €
EBITDA	-11,6 k €	-108%	152,7 k €	+254%	43,2 k €	-85.2%	292,4 k €	+226%	89,7 k €	-70.7%	306,6 k €	+260%	85,1 k €	+254%	24 k €	-26.7%	32,8 k €	+128%	14,3 k €	+47.4%	9,7 k €	-48.8%	19 k €	-24.0%	25 k €	+44.0%	17,4 k €	+12.9%	15,4 k €	+1078%	-1,6 k €	-103%	46,3 k €	+6.1%	43,7 k €	+2.1%	42,8 k €	+13.5%	37,7 k €
Operating result	-41,1 k €	-132%	129 k €	+389%	26,4 k €	-90.3%	272,9 k €	+288%	70,2 k €	-75.5%	286,8 k €	+331%	66,5 k €	+1007%	6 k €	-60.3%	15,1 k €	+543%	-3,4 k €	+50.8%	-6,9 k €	-202%	6,8 k €	+26.8%	5,3 k €	+320%	-2,4 k €	+62.4%	-6,5 k €	+76.6%	-27,6 k €	-275%	15,8 k €	+16.1%	13,6 k €	+4.3%	13 k €	+0.3%	13 k €
Net result	-43 k €	-137%	116,5 k €	+152%	46,2 k €	-83.8%	284,8 k €	+428%	54 k €	-81.2%	286,6 k €	+332%	66,3 k €	+1051%	5,8 k €	-61.2%	14,8 k €	+486%	-3,8 k €	+47.7%	-7,3 k €	-263%	4,5 k €	+44.4%	3,1 k €	-97.1%	105,8 k €	+372%	-38,9 k €	-35.0%	-28,8 k €	+3.2%	-29,8 k €	-12.7%	-26,4 k €	+2.9%	-27,2 k €	-80.7%	-15,1 k €
Balance sheet
Equity	7,8 M €	+604%	1,1 M €	+11.7%	995,6 k €	-26.2%	1,3 M €	+26.8%	1,1 M €	+5.3%	1 M €	+39.6%	724,1 k €	+10.1%	657,7 k €	+0.9%	652 k €	+2.3%	637,1 k €	-0.6%	641 k €	-1.1%	648,3 k €	+0.7%	643,8 k €	+0.5%	640,7 k €	+1737%	34,9 k €	-52.8%	73,8 k €	-28.1%	102,7 k €	-22.5%	132,4 k €	-16.6%	158,9 k €	-14.6%	186,1 k €
Total assets	7,9 M €	+595%	1,1 M €	+13.1%	1 M €	-25.7%	1,4 M €	+26.2%	1,1 M €	+5.4%	1 M €	+40.1%	724,7 k €	+9.2%	663,8 k €	-3.0%	684,4 k €	-0.9%	690,3 k €	-0.5%	693,5 k €	+1.3%	684,3 k €	-0.9%	690,5 k €	-1.7%	702,5 k €	-0.4%	705,1 k €	-2.8%	725,3 k €	-20.4%	911,2 k €	-2.7%	936,8 k €	-3.5%	970,9 k €	+20.0%	809,1 k €
Cash	1,1 k €	-95.4%	23 k €	+102%	11,4 k €	-76.9%	49,2 k €	-71.4%	172,1 k €	-12.2%	196 k €	+16721%	1,2 k €	-92.7%	15,9 k €	-35.8%	24,7 k €	+179%	8,9 k €	+82.8%	4,9 k €	-83.1%	28,7 k €	-2.7%	29,5 k €	+17.7%	25,1 k €	+934%	2,4 k €	-88.7%	21,4 k €	+355%	4,7 k €	+0.1%	4,7 k €	-59.1%	11,5 k €	-46.4%	21,4 k €
Debts	59,9 k €	+160%	23 k €	+191%	7,9 k €	+1329%	554 €	-88.9%	5 k €	+455%	898 €	+233%	269,8 €	-95.4%	5,9 k €	-81.8%	32,2 k €	-37.8%	51,8 k €	+1.4%	51,1 k €	+54.0%	33,2 k €	-28.4%	46,3 k €	-24.8%	61,6 k €	-90.8%	670 k €	+2.9%	651,3 k €	-19.4%	808,4 k €	+0.7%	802,7 k €	-1.1%	811,6 k €	+36.5%	594,8 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 30/12/2025 · 2 active · 20 ended

Active mandates

Louis Van Hoorebeke

Director

Active

Stephanie Huysman

Director

Active

Ended mandates

Patrick Hermans

Director · since 10 décembre 2020 · until 05 juin 2023

Ended

Frans Baert

Director · since 05 juin 2017 · until 05 juin 2023

Ended

Sylvie Baert

Director · since 05 juin 2017 · until 05 juin 2023

Ended

Tony Baert-Martens

Director · since 05 juin 2017 · until 13 avril 2022

Ended

At this address

Other companies at this address

Company	CBE no.
Huysman Architects● Active	0787.592.488
Immo Maré● Active	1000.762.856
LVH INVEST● Active	0673.797.731

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	31/12/2024	31/12/2023	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	30/12/2025	30/12/2024	30/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	13 months	13 months	12 months	12 months	12 months	12 months
Filing date	30/03/2026	28/03/2025	13/03/2024	03/07/2023	21/06/2022	05/07/2021
General meeting	11/03/2026	27/02/2025	01/03/2024	05/06/2023	07/06/2022	07/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/12/2025	11/03/2026	30/03/2026	Dutch	PDF
Abridged model	30/12/2024	27/02/2025	28/03/2025	Dutch	PDF
Abridged model	30/12/2023	01/03/2024	13/03/2024	Dutch	PDF
Abridged model	31/12/2022	05/06/2023	03/07/2023	Dutch	PDF
Abridged model	31/12/2021	07/06/2022	21/06/2022	Dutch	PDF
Abridged model	31/12/2020	07/06/2021	05/07/2021	Dutch	PDF
Abridged model	31/12/2019	02/06/2020	25/06/2020	Dutch	PDF
Abridged model	31/12/2018	03/06/2019	03/07/2019	Dutch	PDF
Abridged model	31/12/2017	04/06/2018	16/07/2018	Dutch	PDF
Abridged model	31/12/2016	05/06/2017	07/07/2017	Dutch	PDF
Abridged model	31/12/2015	06/06/2016	06/07/2016	Dutch	PDF
Abridged model	31/12/2014	01/06/2015	30/06/2015	Dutch	PDF
Abridged model	31/12/2013	02/06/2014	01/07/2014	Dutch	PDF
Abridged model	31/12/2012	03/06/2013	19/06/2013	Dutch	PDF
Abridged model	31/12/2011	04/06/2012	13/06/2012	Dutch	PDF
Abridged model	31/12/2010	06/06/2011	28/06/2011	Dutch	PDF
Abridged model	31/12/2009	07/06/2010	23/06/2010	Dutch	PDF
Abridged model	31/12/2008	02/06/2009	25/06/2009	Dutch	PDF
Abridged model	31/12/2007	02/06/2008	12/06/2008	Dutch	PDF
Abridged model	31/12/2006	04/06/2007	13/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 30/12/2025 · 2 active · 20 ended

Active mandates

Louis Van Hoorebeke

Director

Active

Stephanie Huysman

Director

Active

Ended mandates

Patrick Hermans

Director · since 10 décembre 2020 · until 05 juin 2023

Ended

Frans Baert

Director · since 05 juin 2017 · until 05 juin 2023

Ended

Sylvie Baert

Director · since 05 juin 2017 · until 05 juin 2023

Ended

Tony Baert-Martens

Director · since 05 juin 2017 · until 13 avril 2022

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates13/12/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - BENAMING - ONTSLAGEN - BENOEMINGEN - BOEKJAAR
PDF
Mandates20/11/2023
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares11/08/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Mandates26/07/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/07/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/05/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/08/2017
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares06/02/2013
KAPITAAL - AANDELEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025-43 k €↓
2024
Annual accounts 2024116,5 k €↑
2023
Annual accounts 202346,2 k €↓
2023
Name changeWaterhoen Estate BV
2022
Annual accounts 2022284,8 k €↑
2021
Annual accounts 202154 k €↓
2021
Name changeImmo Concentra
2020
Annual accounts 2020286,6 k €↑
2019
Annual accounts 201966,3 k €↑
2018
Annual accounts 20185,8 k €↓
2017
Annual accounts 201714,8 k €↑
2016
Annual accounts 2016-3,8 k €↑
2015
Annual accounts 2015-7,3 k €↓
2014
Annual accounts 20144,5 k €↑
2013
Annual accounts 20133,1 k €↓
2012
Annual accounts 2012105,8 k €↑
2011
Annual accounts 2011-38,9 k €↓
2010
Annual accounts 2010-28,8 k €↑
2009
Annual accounts 2009-29,8 k €↓
2008
Annual accounts 2008-26,4 k €↑
2007
Annual accounts 2007-27,2 k €↓
2006
Annual accounts 2006-15,1 k €
20/12/1977
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Waterhoen Estate

Overview

What does Waterhoen Estate do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline