ACTIVE

HERZEEL

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Financial year 2025 · closed on 31/12/2025

Net result

143,6 k €

-16.7% YoY

Gross margin

350,1 k €

-30.0% YoY

Equity

1,4 M €

+7.7% YoY

Workforce

3,7 ETP

-26.0% YoY

What does HERZEEL do?

HERZEEL is a Private limited company incorporated in 1998. Its main activity is: Dispensing chemist in specialised stores. Its registered office is in Molenbeek-Saint-Jean. It employs on average 3,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0464.690.376

Incorporation

27/11/1998

Legal form

Private limited company

Registered office

Boulevard du Jubilé 194
1080 Molenbeek-Saint-Jean · BruxellesSee on map

Contributed capital

18 592,01 €

Latest accounts

31/12/2025

Average workforce

3,7 ETP

Activities (NACE)

47730Dispensing chemist in specialised stores· main 47730Dispensing chemist in specialised stores 52310Warehousing and support activities for transportation

Joint committees (2)

313
31300

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	350,1 k €	-30.0%	500,2 k €	-12.0%	568,5 k €	+17.6%	483,6 k €	+2.5%	472 k €	+15.6%	408,3 k €	+21.8%	335,3 k €	+11.6%	300,3 k €	-5.0%	316,1 k €	+2.3%	308,8 k €	-9.2%	340,2 k €	+17.7%	289 k €	+5.3%	274,5 k €	-1.0%	277,2 k €	+20.4%	230,2 k €	+24.0%	185,6 k €	-5.8%	197 k €	+36.1%	144,8 k €	-12.5%	165,4 k €
EBITDA	169,7 k €	-29.4%	240,3 k €	-17.2%	290,4 k €	+30.9%	221,8 k €	-20.4%	278,6 k €	+20.3%	231,5 k €	+44.3%	160,4 k €	+1.1%	158,8 k €	+8.3%	146,6 k €	+0.2%	146,2 k €	-17.5%	177,3 k €	+39.1%	127,5 k €	+23.5%	103,2 k €	-24.8%	137,3 k €	+53.5%	89,4 k €	+70.3%	52,5 k €	-17.6%	63,7 k €	+18.5%	53,8 k €	-37.6%	86,1 k €
Operating result	169,7 k €	-28.5%	237,5 k €	-17.1%	286,5 k €	+37.1%	208,9 k €	-20.2%	261,7 k €	+67.7%	156 k €	+43.0%	109,1 k €	+1.3%	107,7 k €	+11.3%	96,7 k €	+0.6%	96,1 k €	-11.9%	109,2 k €	+77.9%	61,4 k €	+72.6%	35,6 k €	-47.1%	67,2 k €	+134%	28,7 k €	+98.2%	14,5 k €	-9.3%	16 k €	+302%	4 k €	-88.5%	34,4 k €
Net result	143,6 k €	-16.7%	172,4 k €	-22.7%	223 k €	+45.2%	153,5 k €	-42.1%	265,3 k €	+107%	128,4 k €	+128%	56,3 k €	-15.0%	66,2 k €	+20.1%	55,1 k €	-3.8%	57,2 k €	-14.8%	67,2 k €	+76.1%	38,1 k €	+96.5%	19,4 k €	-49.3%	38,3 k €	+296%	9,7 k €	-32.5%	14,3 k €	+157%	5,6 k €	+135%	-15,9 k €	-207%	14,9 k €
Balance sheet
Equity	1,4 M €	+7.7%	1,3 M €	-4.6%	1,3 M €	+15.2%	1,2 M €	+10.2%	1,1 M €	+61.3%	659,3 k €	+6.4%	619,5 k €	+10.0%	563,2 k €	+13.3%	497,1 k €	+12.5%	442 k €	+14.9%	384,7 k €	+21.1%	317,6 k €	+4.0%	305,4 k €	+6.8%	286 k €	+15.5%	247,8 k €	+4.1%	238,1 k €	+6.4%	223,8 k €	+2.6%	218,2 k €	-6.8%	234,1 k €
Total assets	1,9 M €	-6.8%	2 M €	-7.4%	2,2 M €	+7.0%	2 M €	+2.9%	2 M €	+22.2%	1,6 M €	-6.0%	1,7 M €	+2.6%	1,7 M €	+104%	816,3 k €	+6.4%	767,2 k €	+7.5%	713,6 k €	-13.8%	827,4 k €	+18.4%	699,1 k €	-7.9%	759,2 k €	-2.6%	779,1 k €	+40.7%	553,7 k €	+20.1%	460,9 k €	+2.0%	451,9 k €	-15.7%	535,8 k €
Cash	247,2 k €	-1.3%	250,5 k €	+30.2%	192,4 k €	-30.6%	277,1 k €	+37.8%	201,1 k €	+79.3%	112,1 k €	+124%	50,2 k €	-59.7%	124,4 k €	-60.0%	311,2 k €	-18.2%	380,3 k €		–		316,5 k €	+144%	129,9 k €	-40.2%	217,2 k €	-1.0%	219,4 k €	+16.7%	188 k €	+321%	44,7 k €	-5.5%	47,3 k €	-69.1%	153,1 k €
Debts	478,1 k €	-31.2%	695 k €	-13.8%	805,9 k €	-3.7%	836,6 k €	-6.7%	896,2 k €	-4.6%	939,5 k €	-12.8%	1,1 M €	-1.2%	1,1 M €	+247%	314,3 k €	-2.6%	322,7 k €	-1.9%	328,9 k €	-35.1%	506,5 k €	+28.9%	392,8 k €	-16.2%	468,7 k €	-10.7%	524,9 k €	+67.0%	314,3 k €	+33.3%	235,8 k €	+1.4%	232,5 k €	-22.6%	300,5 k €
Other
Workforce	3,7 ETP	-26.0%	5,0 ETP	0.0%	5,0 ETP	+8.7%	4,6 ETP	+17.9%	3,9 ETP	+11.4%	3,5 ETP	0.0%	3,5 ETP	+6.1%	3,3 ETP	-15.4%	3,9 ETP	+2.6%	3,8 ETP	+2.7%	3,7 ETP	0.0%	3,7 ETP	+8.8%	3,4 ETP	+6.2%	3,2 ETP	-8.6%	3,5 ETP	+16.7%	3,0 ETP	0.0%	3,0 ETP	+30.4%	2,3 ETP	+9.5%	2,1 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 2 ended

Active mandates

Ann Herzeel

Director

Active

Ended mandates

Ann Herzeel

Manager · since 16 novembre 1998

Ended

Ann Herzeel

Manager

Ended

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	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	29/08/2026	31/07/2025	31/08/2024	04/03/2024	30/08/2022	28/09/2021
General meeting	08/05/2026	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	08/05/2026	29/08/2026	Dutch	PDF
Abridged model	31/12/2024	30/06/2025	31/07/2025	Dutch	PDF
Abridged model	31/12/2023	30/06/2024	31/08/2024	Dutch	PDF
Abridged modelCorrection	31/12/2022	30/06/2023	04/03/2024	Dutch	PDF
Abridged model	31/12/2022	30/06/2023	31/08/2023	Dutch	PDF
Abridged model	31/12/2021	30/06/2022	30/08/2022	Dutch	PDF
Abridged model	31/12/2020	30/06/2021	28/09/2021	Dutch	PDF
Abridged model	31/12/2019	08/09/2020	08/10/2020	Dutch	PDF
Abridged model	31/12/2018	30/06/2019	29/08/2019	Dutch	PDF
Abridged model	31/12/2017	30/06/2018	16/09/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	31/08/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	31/08/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	23/09/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	31/08/2014	Dutch	PDF
Abridged model	31/12/2012	30/06/2013	15/08/2013	Dutch	PDF
Abridged model	31/12/2011	11/05/2012	31/08/2012	Dutch	PDF
Abridged model	31/12/2010	13/05/2011	22/08/2011	Dutch	PDF
Abridged model	31/12/2009	14/05/2010	01/07/2010	Dutch	PDF
Abridged model	31/12/2008	08/05/2009	14/07/2009	Dutch	PDF
Abridged model	31/12/2007	09/05/2008	16/06/2008	Dutch	PDF
Abridged model	31/12/2006	11/05/2007	14/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 2 ended

Active mandates

Ann Herzeel

Director

Active

Ended mandates

Ann Herzeel

Manager · since 16 novembre 1998

Ended

Ann Herzeel

Manager

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other04/09/2026
Voorstel tot partiële splitsing voor oprichting
PDF
Restructuring25/07/2025
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates24/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/10/2017
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares21/01/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
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 2025143,6 k €↓
2024
Annual accounts 2024172,4 k €↓
2023
Annual accounts 2023223 k €↑
2022
Annual accounts 2022153,5 k €↓
2021
Annual accounts 2021265,3 k €↑
2019
Annual accounts 2019128,4 k €↑
2018
Annual accounts 201856,3 k €↓
2017
Annual accounts 201766,2 k €↑
2016
Annual accounts 201655,1 k €↓
2015
Annual accounts 201557,2 k €↓
2014
Annual accounts 201467,2 k €↑
2013
Annual accounts 201338,1 k €↑
2012
Annual accounts 201219,4 k €↓
2011
Annual accounts 201138,3 k €↑
2010
Annual accounts 20109,7 k €↓
2009
Annual accounts 200914,3 k €↑
2008
Annual accounts 20085,6 k €↑
2007
Annual accounts 2007-15,9 k €↓
2006
Annual accounts 200614,9 k €
27/11/1998
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

HERZEEL

Overview

What does HERZEEL do?

Trend over 19 financial years

Indicative valuation

Board of directors

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