ACTIVE

H.S.H. AEROSPACE FINISHES

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Financial year 2025 · Closed on 31/12/2025

Net result340,3 k €+196,0 %over 1 year

Gross margin1,6 M €+2,8 %over 1 year

Equity1,5 M €+28,5 %over 1 year

Workforce11,9 ETP+3,5 %over 1 year

Identity

Source · BCE/KBO

H.S.H. AEROSPACE FINISHES is a Public limited company incorporated in 1986. Its registered office is in Asse. It employs on average 11,9 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0428.583.117
Incorporation: 27/02/1986
Legal form: Public limited company
Registered office: Z. 1 Researchpark 130
1731 Asse · FlandreSee on map
Contributed capital: 247 893,52 €
Latest accounts: 31/12/2025
Average workforce: 11,9 ETP

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 20 filings

Trend over 19 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	1,6 M €	+2.8%	1,5 M €	+37.4%	1,1 M €	+30.2%	849,7 k €	+3.0%	825,2 k €
EBITDA	542,7 k €	-6.3%	579,4 k €	+173%	212,2 k €	+248%	61 k €	-74.1%	235,8 k €
Operating result	542,2 k €	+181%	192,9 k €	+309%	47,1 k €	+91.6%	24,6 k €	-87.5%	196,5 k €
Net result	340,3 k €	+196%	115 k €	+956%	10,9 k €	-86.2%	78,9 k €	-30.5%	113,5 k €
Balance sheet
Equity	1,5 M €	+28.5%	1,2 M €	+10.7%	1,1 M €	-1.7%	1,1 M €	+7.7%	1 M €
Total assets	2,8 M €	+18.2%	2,4 M €	-5.0%	2,5 M €	+11.6%	2,2 M €	+11.2%	2 M €
Cash	243 k €	+104%	119,4 k €	+378%	25 k €	-73.0%	92,5 k €		–
Debts	1,3 M €	+7.8%	1,2 M €	-16.9%	1,4 M €	+24.4%	1,1 M €	+14.6%	1 M €
Other
Workforce	11,9 ETP	+3.5%	11,5 ETP	+5.5%	10,9 ETP	-11.4%	12,3 ETP	-4.7%	12,9 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 18 ended

Active mandates

CELAU

Director · since 17 novembre 2008 · 0874.558.730

Represented by Agnès Meurrens

Active

Laure Pieltin

Managing director

Active

Ended mandates

CELAU

Director · since 19 avril 2016 · until 01 juillet 2022 · 0874.558.730

Represented by Agnès Meurrens

Ended

CELAU

Managing director · since 19 avril 2016 · until 01 juillet 2022 · 0874.558.730

Represented by Agnès Meurrens

Ended

CELAU

Managing director · since 19 avril 2016 · until 30 septembre 2022 · 0874.558.730

Represented by Agnès MEURRENS

Ended

LAURE PIELTIN

Director · since 19 avril 2016 · until 01 juillet 2022

Ended

Other companies at this address

Z. 1 Researchpark 130 1731 Asse

Company	CBE no.
Hydro Coatings Invest● Active	0805.603.509

Full financial information

Source · NBB

	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	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	31/08/2026	12/02/2026	24/10/2024	27/12/2023	30/09/2022	27/10/2021
General meeting	20/05/2026	21/05/2025	24/10/2024	17/05/2023	30/09/2022	30/09/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	20/05/2026	31/08/2026	Dutch	PDF
Abridged model	31/12/2024	21/05/2025	12/02/2026	Dutch	PDF
Abridged model	31/12/2023	24/10/2024	24/10/2024	Dutch	PDF
Abridged model	31/12/2022	17/05/2023	27/12/2023	Dutch	PDF
Abridged model	31/12/2021	30/09/2022	30/09/2022	Dutch	PDF
Abridged model	31/12/2020	30/09/2021	27/10/2021	Dutch	PDF
Abridged model	31/12/2019	29/05/2020	18/09/2020	Dutch	PDF
Abridged model	31/12/2018	15/05/2019	06/08/2019	Dutch	PDF
Abridged model	31/12/2017	29/06/2018	22/08/2018	Dutch	PDF
Abridged model	31/12/2016	06/06/2017	25/07/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	12/08/2016	Dutch	PDF
Abridged model	31/12/2014	01/07/2015	29/08/2015	Dutch	PDF
Abridged model	31/12/2013	21/05/2014	30/09/2014	Dutch	PDF
Abridged model	31/12/2012	25/10/2013	29/11/2013	Dutch	PDF
Abridged model	31/12/2011	26/10/2012	29/11/2012	Dutch	PDF
Abridged model	31/12/2010	28/10/2011	01/12/2011	Dutch	PDF
Abridged model	31/12/2009	22/10/2010	14/03/2011	Dutch	PDF
Abridged model	31/12/2008	23/10/2009	24/11/2010	Dutch	PDF
Abridged model	30/06/2007	26/10/2007	23/10/2008	Dutch	PDF
Abridged model	30/06/2006	23/11/2007	28/11/2007	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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.

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 18 ended

Active mandates

CELAU

Director · since 17 novembre 2008 · 0874.558.730

Represented by Agnès Meurrens

Active

Laure Pieltin

Managing director

Active

Ended mandates

CELAU

Director · since 19 avril 2016 · until 01 juillet 2022 · 0874.558.730

Represented by Agnès Meurrens

Ended

CELAU

Managing director · since 19 avril 2016 · until 01 juillet 2022 · 0874.558.730

Represented by Agnès Meurrens

Ended

CELAU

Managing director · since 19 avril 2016 · until 30 septembre 2022 · 0874.558.730

Represented by Agnès MEURRENS

Ended

LAURE PIELTIN

Director · since 19 avril 2016 · until 01 juillet 2022

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates12/04/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/01/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/06/2016
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/06/2016
ONTSLAGEN - BENOEMINGEN
PDF
Registered office17/04/2014
MAATSCHAPPELIJKE ZETEL
PDF
Mandates25/03/2014
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/12/2013
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/11/2013
ONTSLAGEN - BENOEMINGEN
PDF

Similar companies

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

See the Business plan

Timeline

2025
Annual accounts 2025340,3 k €↑
2024
Annual accounts 2024115 k €↑
2023
Annual accounts 202310,9 k €↓
2022
Annual accounts 202278,9 k €↓
2021
Annual accounts 2021113,5 k €↑
2020
Annual accounts 2020-209 k €↓
2019
Annual accounts 2019-16,8 k €↑
2018
Annual accounts 2018-17,8 k €↓
2017
Annual accounts 201724,9 k €↑
2016
Annual accounts 2016-1,4 k €↓
2015
Annual accounts 2015182,9 k €↑
2013
Annual accounts 2013-92,4 k €↑
2012
Annual accounts 2012-130,7 k €↓
2011
Annual accounts 2011-64,4 k €↓
2010
Annual accounts 201040,6 k €↑
2009
Annual accounts 2009-371,8 k €↓
2008
Annual accounts 2008336,4 k €↑
2007
Annual accounts 2007268,7 k €↑
2006
Annual accounts 2006187,2 k €
27/02/1986
IncorporationPublic limited company

H.S.H. AEROSPACE FINISHES

Overview

Identity

Financials

Valuation

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

Timeline