HEGROLA
0441.306.151 · rovalta.com · 22/09/2026
ACTIVE
HEGROLA
Financial year 2025 · closed on 31/12/2025
Net result
272,2 k €
-14.6% YoY
Revenue
12 M €
-14.9% YoY
Equity
5,5 M €
+4.9% YoY
Workforce
38,5 ETP
-1.8% YoY
Overview
What does HEGROLA do?
HEGROLA is a Public limited company incorporated in 1990. Its main activity is: Construction of roads and motorways. Its registered office is in Westerlo. It employs on average 38,5 ETP workers (FTE).
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0441.306.151
Incorporation
29/08/1990
Legal form
Public limited company
Registered office
Industrieweg 84
2260 Westerlo · FlandreSee on map
2260 Westerlo · FlandreSee on map
Contributed capital
660 000,00 €
Latest accounts
31/12/2025
Average workforce
38,5 ETP
Activities (NACE)
42110Construction of roads and motorways· main42110Construction of roads and motorways42220Construction of utility projects for electricity and telecommunications42220Construction of utility projects for electricity and telecommunications45215Maintenance and repair of motor vehicles45230Maintenance and repair of motor vehicles+2
Joint committees (5)
- 124
- 1240
- 200
- 2000
- 218
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue
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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 | |||||||||||||||||||||||||||||||||||||||
| Revenue | 12 M € | -14.9% | 14,1 M € | +28.2% | 11 M € | -16.9% | 13,2 M € | +24.1% | 10,7 M € | +3.3% | 10,3 M € | -13.0% | 11,9 M € | -9.4% | 13,1 M € | +18.1% | 11,1 M € | +18.4% | 9,4 M € | -14.2% | 10,9 M € | +5.3% | 10,4 M € | -3.5% | 10,7 M € | -28.4% | 15 M € | +4.6% | 14,4 M € | +22.3% | 11,7 M € | -1.5% | 11,9 M € | -2.6% | 12,2 M € | +26.1% | 9,7 M € | -0.2% | 9,7 M € |
| EBITDA | 1,1 M € | -28.7% | 1,6 M € | +77.7% | 907,1 k € | -30.1% | 1,3 M € | +19.2% | 1,1 M € | +42.5% | 763,8 k € | -22.7% | 988,2 k € | -47.5% | 1,9 M € | +72.7% | 1,1 M € | +24.4% | 876,4 k € | +75.4% | 499,7 k € | -0.0% | 499,9 k € | -51.6% | 1 M € | -11.9% | 1,2 M € | -31.3% | 1,7 M € | +42.8% | 1,2 M € | +165% | 450,9 k € | -69.9% | 1,5 M € | +58.6% | 944,2 k € | +19.4% | 790,7 k € |
| Operating result | 370,4 k € | -24.9% | 492,9 k € | +859% | -65 k € | -116% | 418,5 k € | +165% | 157,8 k € | +27.9% | 123,4 k € | -67.8% | 383,7 k € | -71.9% | 1,4 M € | +123% | 611,4 k € | +87.8% | 325,6 k € | +315% | -151,4 k € | +41.2% | -257,5 k € | -221% | 213,6 k € | -39.8% | 354,7 k € | -52.1% | 740,7 k € | +148% | 298,9 k € | +160% | -499,9 k € | -166% | 755,5 k € | +309% | 184,9 k € | +70.7% | 108,3 k € |
| Net result | 272,2 k € | -14.6% | 318,9 k € | +436% | -94,8 k € | -130% | 320,2 k € | +141% | 132,7 k € | +403% | 26,4 k € | -88.7% | 234,2 k € | -72.9% | 864,9 k € | +52.9% | 565,7 k € | +155% | 222 k € | +209% | -203,5 k € | +72.2% | -732,1 k € | -1209% | 66 k € | -62.6% | 176,6 k € | -69.1% | 571,9 k € | +333% | 132 k € | +119% | -686 k € | -170% | 985,2 k € | +3756% | 25,5 k € | -61.5% | 66,3 k € |
| Balance sheet | |||||||||||||||||||||||||||||||||||||||
| Equity | 5,5 M € | +4.9% | 5,2 M € | +3.2% | 5,1 M € | -1.9% | 5,2 M € | +4.7% | 4,9 M € | +2.7% | 4,8 M € | +0.6% | 4,8 M € | -1.1% | 4,8 M € | +21.7% | 4 M € | +16.5% | 3,4 M € | +6.9% | 3,2 M € | -6.0% | 3,4 M € | -17.8% | 4,1 M € | +1.6% | 4,1 M € | +4.5% | 3,9 M € | +17.8% | 3,3 M € | +4.1% | 3,2 M € | -17.6% | 3,9 M € | +34.3% | 2,9 M € | +0.8% | 2,8 M € |
| Total assets | 10,3 M € | -5.2% | 10,9 M € | +28.5% | 8,5 M € | -19.5% | 10,5 M € | +1.9% | 10,3 M € | +0.5% | 10,3 M € | -1.4% | 10,4 M € | +2.1% | 10,2 M € | +13.2% | 9 M € | +7.6% | 8,4 M € | -11.6% | 9,5 M € | -2.5% | 9,7 M € | -1.0% | 9,8 M € | -20.4% | 12,3 M € | +11.8% | 11 M € | +11.4% | 9,9 M € | -9.2% | 10,9 M € | +6.8% | 10,2 M € | +26.1% | 8,1 M € | +6.8% | 7,6 M € |
| Cash | 511,5 k € | -68.8% | 1,6 M € | +282% | 429,3 k € | -58.2% | 1 M € | +0.7% | 1 M € | +109% | 487,2 k € | +9.2% | 446,3 k € | -16.9% | 536,8 k € | -30.9% | 777,4 k € | +35266% | 2,2 k € | -99.7% | 774,2 k € | +341% | 175,5 k € | +113% | 82,4 k € | -86.4% | 605,9 k € | +188% | 210,6 k € | +1199% | 16,2 k € | -89.6% | 155,4 k € | -46.0% | 288,1 k € | +28.3% | 224,5 k € | +338% | 51,3 k € |
| Debts | 4,2 M € | -17.1% | 5 M € | +58.0% | 3,2 M € | -36.5% | 5 M € | -0.4% | 5 M € | -0.1% | 5 M € | -4.7% | 5,3 M € | +6.2% | 5 M € | +6.2% | 4,7 M € | +3.3% | 4,5 M € | -23.4% | 5,9 M € | -2.3% | 6,1 M € | +15.5% | 5,2 M € | -30.9% | 7,6 M € | +13.6% | 6,7 M € | +6.7% | 6,3 M € | -15.7% | 7,4 M € | +23.4% | 6 M € | +15.5% | 5,2 M € | +10.6% | 4,7 M € |
| Other | |||||||||||||||||||||||||||||||||||||||
| Workforce | 38,5 ETP | -1.8% | 39,2 ETP | -3.2% | 40,5 ETP | -2.2% | 41,4 ETP | +1.2% | 40,9 ETP | -5.1% | 43,1 ETP | -12.9% | 49,5 ETP | -5.4% | 52,3 ETP | +7.4% | 48,7 ETP | -9.3% | 53,7 ETP | -5.8% | 57,0 ETP | -7.5% | 61,6 ETP | -7.4% | 66,5 ETP | -8.5% | 72,7 ETP | -0.3% | 72,9 ETP | +4.1% | 70,0 ETP | -7.9% | 76,0 ETP | +5.6% | 72,0 ETP | +2.9% | 70,0 ETP | -4.1% | 73,0 ETP |
Estimate
Indicative valuation
As an indication, this company is worth
between 5 M€ and 10 M€
See the valuationGovernance
Board of directors
Seen on filing of 31/12/2025 · 2 active · 23 ended
Active mandates
Isabel Aerts
ActiveKoen Laeremans
ActiveEnded mandates
Isabel Aerts
EndedKoen Laeremans
EndedKoen Laeremans
EndedIsabel Aerts
EndedAt this address
Other companies at this address
| Company | CBE no. |
|---|---|
ZAREKO● Active | 0451.946.160 |
Financials
Annual accounts
Full financial information
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Type of account | Full model | Full model | Full model | Full model | Full model | Full 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 | 10/08/2026 | 22/07/2025 | 12/08/2024 | 07/07/2023 | 17/08/2022 | 06/08/2021 |
| General meeting | 07/08/2026 | 17/07/2025 | 09/08/2024 | 22/06/2023 | 15/07/2022 | 23/07/2021 |
| 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
Looking for more information about this company?
Try for 7 daysFilings
Annual accounts filings
20 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Full model | 31/12/2025 | 07/08/2026 | 10/08/2026 | Dutch | |
| Full model | 31/12/2024 | 17/07/2025 | 22/07/2025 | Dutch | |
| Full model | 31/12/2023 | 09/08/2024 | 12/08/2024 | Dutch | |
| Full model | 31/12/2022 | 22/06/2023 | 07/07/2023 | Dutch | |
| Full model | 31/12/2021 | 15/07/2022 | 17/08/2022 | Dutch | |
| Full model | 31/12/2020 | 23/07/2021 | 06/08/2021 | Dutch | |
| Full model | 31/12/2019 | 07/08/2020 | 11/08/2020 | Dutch | |
| Full model | 31/12/2018 | 29/08/2019 | 30/08/2019 | Dutch | |
| Full model | 31/12/2017 | 08/08/2018 | 27/08/2018 | Dutch | |
| Full model | 31/12/2016 | 30/06/2017 | 17/08/2017 | Dutch | |
| Full model | 31/12/2015 | 30/06/2016 | 25/08/2016 | Dutch | |
| Full model | 31/12/2014 | 30/06/2015 | 07/08/2015 | Dutch | |
| Full model | 31/12/2013 | 01/08/2014 | 11/08/2014 | Dutch | |
| Full model | 31/12/2012 | 22/06/2013 | 22/08/2013 | Dutch | |
| Full model | 31/12/2011 | 29/06/2012 | 27/08/2012 | Dutch | |
| Full model | 31/12/2010 | 22/06/2011 | 03/08/2011 | Dutch | |
| Full model | 31/12/2009 | 01/06/2010 | 31/08/2010 | Dutch | |
| Full model | 31/12/2008 | 01/06/2009 | 06/08/2009 | Dutch | |
| Full model | 31/12/2007 | 02/06/2008 | 30/06/2008 | Dutch | |
| Full model | 31/12/2006 | 01/06/2007 | 20/07/2007 | Dutch |
Valuation
Estimate
Indicative valuation
Order of magnitude
As an indication, this company is worth
between 5 M€ and 10 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.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Governance
Board of directors
Seen on filing of 31/12/2025 · 2 active · 23 ended
Active mandates
Isabel Aerts
ActiveKoen Laeremans
ActiveEnded mandates
Isabel Aerts
EndedKoen Laeremans
EndedKoen Laeremans
EndedIsabel Aerts
EndedShareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
- Mandates03/12/2025STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
- Restructuring19/08/2021RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
- Restructuring23/06/2021RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
- Restructuring10/06/2020RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
- Mandates20/03/2020ONTSLAGEN - BENOEMINGEN
- Mandates08/12/2017ONTSLAGEN - BENOEMINGEN
- Mandates31/03/2017ONTSLAGEN - BENOEMINGEN
- Mandates30/10/2012ONTSLAGEN - BENOEMINGEN
Source: Belgian Official Gazette
Similar companies
Competition
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 2025272,2 k €↓
- 2024Annual accounts 2024318,9 k €↑
- 2023Annual accounts 2023-94,8 k €↓
- 2022Annual accounts 2022320,2 k €↑
- 2021Annual accounts 2021132,7 k €↑
- 2020Annual accounts 202026,4 k €↓
- 2019Annual accounts 2019234,2 k €↓
- 2018Annual accounts 2018864,9 k €↑
- 2017Annual accounts 2017565,7 k €↑
- 2016Annual accounts 2016222 k €↑
- 2015Annual accounts 2015-203,5 k €↑
- 2014Annual accounts 2014-732,1 k €↓
- 2013Annual accounts 201366 k €↓
- 2012Annual accounts 2012176,6 k €↓
- 2011Annual accounts 2011571,9 k €↑
- 2010Annual accounts 2010132 k €↑
- 2009Annual accounts 2009-686 k €↓
- 2008Annual accounts 2008985,2 k €↑
- 2007Annual accounts 200725,5 k €↓
- 2006Annual accounts 200666,3 k €
- 29/08/1990IncorporationPublic limited company