ACTIVE

HERTOG

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Financial year 2025 · closed on 30/09/2025

Net result

60,2 k €

+1.7% YoY

Gross margin

178,9 k €

+10.4% YoY

Equity

665 k €

+9.9% YoY

What does HERTOG do?

HERTOG is a Public limited company incorporated in 1999. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Ixelles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0466.556.241

Incorporation

15/07/1999

Legal form

Public limited company

Registered office

Avenue des Saisons 100-102 box 30
1050 Ixelles · BruxellesSee on map

Contributed capital

61 973,38 €

Latest accounts

30/09/2025

Activities (NACE)

68203Rental and operating of own or leased real estate· main 68203Rental and operating of own or leased real estate 70203Management consultancy activities 74855Other professional, scientific and technical activities 82100Office administrative and support activities 82110Combined office administrative service activities

Signals

ProfitablePositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	178,9 k €	+10.4%	162,1 k €	-6.5%	173,4 k €	-7.4%	187,3 k €	+26.7%	147,8 k €	-14.7%	173,3 k €	-16.2%	206,6 k €	+81.8%	113,6 k €	-37.7%	182,4 k €	+131%	78,9 k €	+0.8%	78,3 k €	-41.7%	134,4 k €	+2.9%	130,6 k €	+7.9%	121 k €	-7.1%	130,3 k €	+4.2%	125 k €	+26.3%	99 k €	+8.5%	91,3 k €	+86.0%	49,1 k €
EBITDA	171,3 k €	+10.7%	154,7 k €	-7.0%	166,4 k €	-8.8%	182,4 k €	+28.3%	142,2 k €	-15.2%	167,6 k €	-17.0%	202,1 k €	+84.3%	109,7 k €	-36.8%	173,6 k €	+133%	74,5 k €	+3.4%	72,1 k €	-43.4%	127,3 k €	+2.2%	124,6 k €	+8.3%	115 k €	-8.2%	125,2 k €	+6.4%	117,7 k €	+24.8%	94,4 k €	+6.0%	89 k €	+122%	40,1 k €
Operating result	103,4 k €	+15.5%	89,5 k €	-13.0%	102,9 k €	-13.0%	118,2 k €	+59.2%	74,2 k €	+15.9%	64 k €	+3.1%	62,1 k €	-6.9%	66,7 k €	-36.0%	104,1 k €	+453%	-29,5 k €	-167%	43,9 k €	-46.7%	82,3 k €	+4.1%	79,1 k €	+13.8%	69,5 k €	-12.9%	79,8 k €	+10.4%	72,3 k €	+47.4%	49 k €	+11.7%	43,9 k €	+789%	-6,4 k €
Net result	60,2 k €	+1.7%	59,2 k €	-15.1%	69,7 k €	+5.8%	65,8 k €	+87.4%	35,1 k €	+46.2%	24 k €	+9.2%	22 k €	-14.2%	25,7 k €	-33.2%	38,4 k €	+187%	-44,4 k €	-112%	373,4 k €	+899%	37,4 k €	+38.4%	27 k €	+158%	10,5 k €	+113%	-83,1 k €	-211%	75 k €	+43.4%	52,3 k €	-3.8%	54,4 k €	+639%	-10,1 k €
Balance sheet
Equity	665 k €	+9.9%	604,9 k €	+10.8%	545,7 k €	+14.6%	476 k €	+16.1%	410,1 k €	+9.4%	375 k €	+6.9%	350,9 k €	+6.7%	328,9 k €	+8.5%	303,3 k €	+14.5%	264,8 k €	-14.4%	309,2 k €	+582%	-64,1 k €	+36.8%	-101,5 k €	+21.0%	-128,5 k €	+7.5%	-139 k €	-149%	-55,8 k €	+57.3%	-130,9 k €	+28.6%	-183,2 k €	+22.9%	-237,6 k €
Total assets	2,3 M €	-8.7%	2,5 M €	+0.3%	2,5 M €	-3.0%	2,6 M €	+2.8%	2,5 M €	+1.7%	2,4 M €	-2.9%	2,5 M €	+15.8%	2,2 M €	+3.3%	2,1 M €	+1.2%	2,1 M €	+12.4%	1,9 M €	+8.0%	1,7 M €	-1.7%	1,7 M €	-1.5%	1,8 M €	-1.8%	1,8 M €	-5.8%	1,9 M €	+3.4%	1,8 M €	+1.7%	1,8 M €	+2.0%	1,8 M €
Cash	50,4 k €	+2688%	1,8 k €	-86.4%	13,2 k €	-72.6%	48,3 k €	+453%	8,8 k €	+1276%	635,7 €	-98.2%	36,3 k €	+1990%	1,7 k €	-73.2%	6,5 k €	+46.0%	4,4 k €	+1539%	271,1 €		–		3,2 k €		–		4,4 k €		–		–		3,7 k €	-21.7%	4,7 k €
Debts	1,5 M €	-15.4%	1,8 M €	-2.5%	1,8 M €	-7.2%	1,9 M €	+0.5%	1,9 M €	+0.6%	1,9 M €	-4.5%	2 M €	+19.5%	1,7 M €	+2.9%	1,6 M €	-0.5%	1,6 M €	+20.8%	1,4 M €	-23.3%	1,8 M €	-3.8%	1,8 M €	-2.8%	1,9 M €	-2.2%	1,9 M €	-1.4%	2 M €	-0.6%	2 M €	-1.1%	2 M €	-0.9%	2 M €

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 4 active · 17 ended

Active mandates

DOMINIQUE SERGEANT

Director

Active

LAURENCE SERGEANT

Director

Active

LDL-INVEST

Director · 0455.806.166

Represented by LIEVE VERBIEST

Active

LIEVE VERBIEST

Managing director

Active

Ended mandates

Dominique Sergeant

Director · since 17 décembre 2013 · until 31 mai 2018

Ended

Dominique Sergeant

Director · since 17 décembre 2013

Ended

Godelieve Verbiest

Managing director · since 17 décembre 2013 · until 31 mai 2018

Ended

Godelieve Verbiest

Managing director · since 17 décembre 2013

Ended

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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	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	27/04/2026	30/04/2025	30/04/2024	30/03/2023	29/04/2022	02/05/2021
General meeting	20/02/2026	21/02/2025	16/02/2024	17/02/2023	18/02/2022	19/02/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	30/09/2025	20/02/2026	27/04/2026	Dutch	PDF
Micro model	30/09/2024	21/02/2025	30/04/2025	Dutch	PDF
Micro model	30/09/2023	16/02/2024	30/04/2024	Dutch	PDF
Micro model	30/09/2022	17/02/2023	30/03/2023	Dutch	PDF
Micro model	30/09/2021	18/02/2022	29/04/2022	Dutch	PDF
Micro model	30/09/2020	19/02/2021	02/05/2021	Dutch	PDF
Micro model	30/09/2019	21/02/2020	30/05/2020	Dutch	PDF
Micro model	30/09/2018	15/02/2019	27/03/2019	Dutch	PDF
Micro model	30/09/2017	16/02/2018	31/05/2018	Dutch	PDF
Abridged model	31/12/2015	17/06/2016	26/10/2016	Dutch	PDF
Abridged model	31/12/2014	01/06/2015	31/08/2015	Dutch	PDF
Abridged model	31/12/2013	31/05/2014	31/08/2014	Dutch	PDF
Abridged model	31/12/2012	31/05/2013	29/08/2013	Dutch	PDF
Abridged model	31/12/2011	31/05/2012	30/08/2012	Dutch	PDF
Abridged model	31/12/2010	31/05/2011	30/12/2011	Dutch	PDF
Abridged model	31/12/2009	31/05/2010	30/11/2010	Dutch	PDF
Abridged model	31/12/2008	31/05/2009	30/09/2009	Dutch	PDF
Abridged model	31/12/2007	31/05/2008	29/09/2008	Dutch	PDF
Abridged model	31/12/2006	31/05/2007	27/08/2008	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 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 30/09/2025 · 4 active · 17 ended

Active mandates

DOMINIQUE SERGEANT

Director

Active

LAURENCE SERGEANT

Director

Active

LDL-INVEST

Director · 0455.806.166

Represented by LIEVE VERBIEST

Active

LIEVE VERBIEST

Managing director

Active

Ended mandates

Dominique Sergeant

Director · since 17 décembre 2013 · until 31 mai 2018

Ended

Dominique Sergeant

Director · since 17 décembre 2013

Ended

Godelieve Verbiest

Managing director · since 17 décembre 2013 · until 31 mai 2018

Ended

Godelieve Verbiest

Managing director · since 17 décembre 2013

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates24/04/2024
ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates15/03/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/04/2018
ONTSLAGEN - BENOEMINGEN
PDF
Other03/01/2017
BOEKJAAR - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares07/01/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates24/06/2011
ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/07/2005
ONTSLAGEN - BENOEMINGEN
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 202560,2 k €↑
2024
Annual accounts 202459,2 k €↓
2023
Annual accounts 202369,7 k €↑
2022
Annual accounts 202265,8 k €↑
2021
Annual accounts 202135,1 k €↑
2020
Annual accounts 202024 k €↑
2019
Annual accounts 201922 k €↓
2018
Annual accounts 201825,7 k €↓
2017
Annual accounts 201738,4 k €↑
2015
Annual accounts 2015-44,4 k €↓
2014
Annual accounts 2014373,4 k €↑
2013
Annual accounts 201337,4 k €↑
2012
Annual accounts 201227 k €↑
2011
Annual accounts 201110,5 k €↑
2010
Annual accounts 2010-83,1 k €↓
2009
Annual accounts 200975 k €↑
2008
Annual accounts 200852,3 k €↓
2007
Annual accounts 200754,4 k €↑
2006
Annual accounts 2006-10,1 k €
15/07/1999
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

HERTOG

Overview

What does HERTOG do?

Trend over 19 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