ACTIVE

D.H.

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Financial year 2025 · closed on 31/12/2025

Net result

38,4 k €

-23.1% YoY

Gross margin

86,8 k €

-4.3% YoY

Equity

936,5 k €

+8.9% YoY

What does D.H. do?

D.H. is a Public limited company incorporated in 1984. Its main activity is: Activities of holding companies. Its registered office is in Raeren.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0427.868.285

Incorporation

27/12/1984

Legal form

Public limited company

Registered office

Raerener Strasse 22
4731 Raeren · WallonieSee on map

Contributed capital

94 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 70200Management consultancy activities 70220Business and other management consultancy activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	86,8 k €	-4.3%	90,7 k €	+30.1%	69,7 k €	+6.9%	65,2 k €	-21.6%	83,2 k €	+105%	40,5 k €	+412%	7,9 k €	-87.0%	60,8 k €	-54.8%	134,5 k €	-21.7%	171,7 k €	-33.0%	256,2 k €	+6.4%	240,8 k €	+4.6%	230,2 k €	+6.7%	215,8 k €	+9.9%	196,3 k €	+21.4%	161,7 k €	+11.5%	145 k €	-11.3%	163,4 k €	+11.6%	146,5 k €	-4.0%	152,6 k €
EBITDA	67 k €	-8.6%	73,3 k €	+38.3%	53 k €	-18.7%	65,2 k €	-21.6%	83,2 k €	+105%	40,5 k €	+412%	7,9 k €	-89.6%	76 k €	-45.5%	139,5 k €	-16.3%	166,7 k €	-33.1%	249,2 k €	+5.7%	235,8 k €	+3.1%	228,7 k €	+4.5%	218,8 k €	+9.0%	200,8 k €	+21.5%	165,2 k €	+10.2%	150 k €	-12.2%	170,9 k €	+18.3%	144,5 k €	-3.4%	149,6 k €
Operating result	40 k €	-17.1%	48,2 k €	+56.0%	30,9 k €	-36.0%	48,3 k €	-24.3%	63,8 k €	+1020%	5,7 k €	+119%	-30,3 k €	-258%	19,1 k €	-79.1%	91,7 k €	-21.7%	117,1 k €	-41.3%	199,3 k €	+6.6%	187 k €	+4.7%	178,7 k €	+3.1%	173,2 k €	+9.8%	157,8 k €	+10.2%	143,2 k €	+14.5%	125,1 k €	-11.6%	141,5 k €	+27.5%	111 k €	-9.0%	121,9 k €
Net result	38,4 k €	-23.1%	49,9 k €	+85.2%	27 k €	-24.4%	35,7 k €	-26.5%	48,5 k €	+771%	5,6 k €	+115%	-36,7 k €	-400%	12,3 k €	-81.0%	64,6 k €	-24.7%	85,7 k €	-37.2%	136,6 k €	-5.8%	145 k €	-1.7%	147,6 k €	+1.9%	144,8 k €	+6.7%	135,8 k €	+4.7%	129,6 k €	-1.6%	131,7 k €	+4998%	2,6 k €	-97.9%	125,9 k €	+13.5%	111 k €
Balance sheet
Equity	936,5 k €	+8.9%	860,2 k €	+6.2%	810,3 k €	+3.4%	783,3 k €	+4.8%	747,7 k €	+6.9%	699,1 k €	+0.8%	693,6 k €	-5.0%	730,3 k €	-68.8%	2,3 M €	+2.8%	2,3 M €	+3.9%	2,2 M €	+6.7%	2,1 M €	+617%	286,1 k €	-85.8%	2 M €	+7.7%	1,9 M €	+7.8%	1,7 M €	+8.1%	1,6 M €	+8.9%	1,5 M €	+0.2%	1,5 M €	+9.3%	1,3 M €
Total assets	1,1 M €	+9.1%	1 M €	+3.8%	1 M €	+1.3%	988,2 k €	-13.8%	1,1 M €	-49.6%	2,3 M €	+0.1%	2,3 M €	-4.8%	2,4 M €	-1.0%	2,4 M €	+1.7%	2,4 M €	+3.7%	2,3 M €	+6.1%	2,2 M €	-3.5%	2,2 M €	+4.9%	2,1 M €	+10.6%	1,9 M €	+8.4%	1,8 M €	+8.0%	1,6 M €	+7.8%	1,5 M €	-2.4%	1,6 M €	+10.7%	1,4 M €
Cash	98 k €	+33.2%	73,6 k €	+43.8%	51,2 k €	-92.4%	673,6 k €	-22.0%	863,5 k €	-42.5%	1,5 M €	+0.7%	1,5 M €	-4.4%	1,6 M €	+2.0%	1,5 M €	+5.2%	1,5 M €	+10.3%	1,3 M €	+14.7%	1,1 M €	+1.9%	1,1 M €	+14.1%	989 k €	+36.1%	726,7 k €	-25.2%	971,8 k €	+17.6%	826,5 k €	+2340%	33,9 k €	-46.9%	63,8 k €	-70.8%	218,6 k €
Debts	197,4 k €	+10.0%	179,5 k €	-6.0%	191 k €	-6.7%	204,8 k €	-48.4%	397 k €	-74.7%	1,6 M €	-0.4%	1,6 M €	-4.7%	1,7 M €	+3947%	40,9 k €	-30.8%	59,1 k €	-8.9%	64,8 k €	-15.4%	76,6 k €	-96.0%	1,9 M €	+2065%	88,9 k €	+236%	26,4 k €	+221%	8,2 k €	+138%	3,5 k €	-68.7%	11,1 k €	-74.4%	43,2 k €	+115%	20,1 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 13 ended

Active mandates

Alexander KOCKARTZ

Director · since 23 mars 2022

Active

Verena DOUM

Managing director · since 08 décembre 2015

Active

Ended mandates

Alexander KOCKARTZ

Director · since 23 mars 2022 · until 22 mars 2028

Ended

Verena DOUM

Managing director · since 23 mars 2022 · until 22 mars 2028

Ended

Hubert DOUM

Chairman of the board of directors · since 08 décembre 2015 · until 23 mars 2022

Ended

Hubert DOUM

Chairman of the board of directors · since 08 décembre 2015

Ended

At this address

Other companies at this address

Company	CBE no.
DISTRIPAT● Active	0844.011.054
KOCKADO● Active	0890.181.866
VEDOCO● Active	0426.180.584

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	19/06/2026	26/06/2025	08/07/2024	29/06/2023	04/07/2022	25/06/2021
General meeting	06/05/2026	07/05/2025	02/05/2024	03/05/2023	04/05/2022	05/05/2021
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
Micro model	31/12/2025	06/05/2026	19/06/2026	German	PDF
Micro model	31/12/2024	07/05/2025	26/06/2025	German	PDF
Micro model	31/12/2023	02/05/2024	08/07/2024	German	PDF
Micro model	31/12/2022	03/05/2023	29/06/2023	German	PDF
Micro model	31/12/2021	04/05/2022	04/07/2022	German	PDF
Micro model	31/12/2020	05/05/2021	25/06/2021	German	PDF
Micro model	31/12/2019	06/05/2020	09/07/2020	German	PDF
Micro model	31/12/2018	02/05/2019	07/06/2019	German	PDF
Micro model	31/12/2017	02/05/2018	21/07/2018	German	PDF
Micro model	31/12/2016	03/05/2017	26/07/2017	German	PDF
Abridged model	31/12/2015	04/05/2016	14/07/2016	German	PDF
Abridged model	31/12/2014	06/05/2015	29/06/2015	German	PDF
Abridged model	31/12/2013	07/05/2014	09/07/2014	German	PDF
Abridged model	31/12/2012	01/05/2013	18/09/2013	German	PDF
Abridged model	31/12/2011	02/05/2012	27/08/2012	German	PDF
Abridged model	31/12/2010	04/05/2011	28/06/2011	German	PDF
Abridged model	31/12/2009	05/05/2010	30/07/2010	German	PDF
Abridged model	31/12/2008	06/05/2009	20/08/2009	German	PDF
Abridged model	31/12/2007	07/05/2008	08/07/2008	German	PDF
Abridged model	31/12/2006	02/05/2007	08/08/2007	German	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 M€

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 31/12/2025 · 2 active · 13 ended

Active mandates

Alexander KOCKARTZ

Director · since 23 mars 2022

Active

Verena DOUM

Managing director · since 08 décembre 2015

Active

Ended mandates

Alexander KOCKARTZ

Director · since 23 mars 2022 · until 22 mars 2028

Ended

Verena DOUM

Managing director · since 23 mars 2022 · until 22 mars 2028

Ended

Hubert DOUM

Chairman of the board of directors · since 08 décembre 2015 · until 23 mars 2022

Ended

Hubert DOUM

Chairman of the board of directors · since 08 décembre 2015

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Restructuring02/09/2025
GEGENSTAND - KAPITAL - AKTIEN - RUBRIK UMBAU (VERSCHMELZUNG, SPALTUNG, UEBERTRAGUNG VERMOEGEN, USW)
PDF
Restructuring06/06/2025
RUBRIK UMBAU (VERSCHMELZUNG, SPALTUNG, UEBERTRAGUNG VERMOEGEN, USW)
PDF
Mandates13/04/2022
SATZUNGEN (UEBERSETZUNG, KOORDINATION, ANDERE AENDERUNGEN, ) - ENTLASSUNG - ERNENNUNG
PDF
Capital / shares14/06/2018
KAPITAL - AKTIEN
PDF
Mandates03/04/2017
DEMISSIONS, NOMINATIONS
PDF
Capital / shares22/04/2014
KAPITAL - AKTIEN
PDF
Mandates06/12/2010
DEMISSIONS, NOMINATIONS
PDF
Capital / shares28/09/2010
KAPITAL - AKTIEN - SATZUNGEN (UEBERSETZUNG, KOORDINATION, ANDERE AENDERUNGEN, )
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 202538,4 k €↓
2024
Annual accounts 202449,9 k €↑
2023
Annual accounts 202327 k €↓
2022
Annual accounts 202235,7 k €↓
2021
Annual accounts 202148,5 k €↑
2020
Annual accounts 20205,6 k €↑
2019
Annual accounts 2019-36,7 k €↓
2018
Annual accounts 201812,3 k €↓
2017
Annual accounts 201764,6 k €↓
2016
Annual accounts 201685,7 k €↓
2015
Annual accounts 2015136,6 k €↓
2014
Annual accounts 2014145 k €↓
2013
Annual accounts 2013147,6 k €↑
2012
Annual accounts 2012144,8 k €↑
2011
Annual accounts 2011135,8 k €↑
2010
Annual accounts 2010129,6 k €↓
2009
Annual accounts 2009131,7 k €↑
2008
Annual accounts 20082,6 k €↓
2007
Annual accounts 2007125,9 k €↑
2006
Annual accounts 2006111 k €
27/12/1984
IncorporationPublic 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

D.H.

Overview

What does D.H. 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