ACTIVE

HIVERCO

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Financial year 2025 · closed on 31/12/2025

Net result

194 k €

+64.0% YoY

Gross margin

211,1 k €

+18.1% YoY

Equity

846 k €

-12.1% YoY

What does HIVERCO do?

HIVERCO is a Private limited company incorporated in 2002. Its registered office is in Ternat.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0476.994.629

Incorporation

21/03/2002

Legal form

Private limited company

Registered office

Brusselstraat 30
1740 Ternat · FlandreSee on map

Contributed capital

12 400,00 €

Latest accounts

31/12/2025

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	211,1 k €	+18.1%	178,8 k €	-0.0%	178,9 k €	+68.1%	106,4 k €	-13.8%	123,5 k €	-17.4%	149,6 k €	-8.8%	164,1 k €	+8.5%	151,3 k €	+37.6%	109,9 k €	-4.5%	115,1 k €	-11.7%	130,3 k €	-14.9%	153 k €	-11.1%	172,2 k €	+33.7%	128,8 k €	-5.6%	136,5 k €	+10.4%	123,7 k €	-16.5%	148 k €	+68.6%	87,8 k €	+11.6%	78,6 k €	-25.7%	105,8 k €
EBITDA	209,6 k €	+18.3%	177,1 k €	-0.2%	177,5 k €	+69.5%	104,7 k €	-14.0%	121,7 k €	-18.1%	148,7 k €	-8.7%	162,9 k €	+8.5%	150,2 k €	+38.2%	108,6 k €	-4.5%	113,8 k €	-11.8%	129 k €	-15.0%	151,8 k €	-10.4%	169,4 k €	+32.8%	127,6 k €	-5.7%	135,3 k €	+10.4%	122,5 k €	-16.7%	146,9 k €	+75.6%	83,7 k €	+7.7%	77,7 k €	-25.6%	104,5 k €
Operating result	199,1 k €	+19.3%	166,9 k €	-0.4%	167,7 k €	+78.7%	93,9 k €	-15.2%	110,7 k €	-19.7%	137,9 k €	-8.3%	150,3 k €	+9.9%	136,7 k €	+48.1%	92,3 k €	-8.2%	100,5 k €	-13.1%	115,6 k €	-15.5%	136,9 k €	-11.4%	154,4 k €	+26.3%	122,3 k €	+11.3%	109,8 k €	+34.7%	81,6 k €	-24.5%	108 k €	+142%	44,5 k €	-16.9%	53,6 k €	-24.2%	70,8 k €
Net result	194 k €	+64.0%	118,3 k €	-9.3%	130,4 k €	+127%	57,4 k €	-53.2%	122,5 k €	+24.6%	98,3 k €	-7.7%	106,5 k €	+9.7%	97,1 k €	+71.1%	56,7 k €	-14.8%	66,6 k €	+12.2%	59,4 k €	-31.4%	86,5 k €	-26.1%	117,1 k €	+32.0%	88,7 k €	+11.0%	79,9 k €	+43.9%	55,5 k €	-26.8%	75,9 k €	+101%	37,7 k €	+4.2%	36,2 k €	-17.7%	44 k €
Balance sheet
Equity	846 k €	-12.1%	962 k €	+14.0%	843,7 k €	+18.3%	713,4 k €	+8.7%	656 k €	-21.4%	834,6 k €	+13.3%	736,3 k €	+16.9%	629,8 k €	+18.2%	532,7 k €	+11.9%	476 k €	+16.3%	409,4 k €	+17.0%	350 k €	+32.8%	263,6 k €	+63.2%	161,5 k €	+95.1%	82,8 k €	+390%	16,9 k €	-85.7%	118,3 k €	+117%	54,4 k €	-46.5%	101,7 k €	+55.2%	65,6 k €
Total assets	860,4 k €	-11.1%	967,9 k €	+13.0%	856,7 k €	+10.6%	774,5 k €	+8.8%	711,7 k €	-17.3%	861 k €	+13.1%	761 k €	+17.7%	646,8 k €	+18.6%	545,5 k €	+8.1%	504,5 k €	+11.7%	451,5 k €	+19.8%	376,8 k €	+30.0%	289,9 k €	+4.2%	278,2 k €	+21.0%	230 k €	+5.3%	218,4 k €	+22.1%	178,9 k €	-8.3%	195 k €	+26.4%	154,3 k €	-36.4%	242,6 k €
Cash	112 k €	-3.3%	115,8 k €	+173%	42,4 k €	-60.8%	108 k €	+3.3%	104,5 k €	-27.4%	143,9 k €	-78.8%	679,8 k €	+21.7%	558,8 k €	+15.9%	482 k €	+8.2%	445,4 k €	+17.9%	377,9 k €	+26.2%	299,5 k €	+40.2%	213,5 k €	-11.3%	240,7 k €	+26.4%	190,5 k €	+17.1%	162,6 k €	+59.0%	102,2 k €	+11.8%	91,4 k €	+71.2%	53,4 k €	-54.6%	117,6 k €
Debts	14,4 k €	+144%	5,9 k €	-54.2%	12,9 k €	-73.9%	49,5 k €	-9.7%	54,8 k €	+107%	26,4 k €	+17.2%	22,5 k €	+51.9%	14,8 k €	+37.7%	10,8 k €	-59.4%	26,5 k €	-33.9%	40,1 k €	+61.6%	24,8 k €	+2.2%	24,3 k €	-78.7%	114 k €	-21.2%	144,7 k €	-28.2%	201,5 k €	+233%	60,6 k €	-55.6%	136,4 k €	+176%	49,4 k €	-71.6%	173,9 k €

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 · 3 ended

Active mandates

Hilde Verlaenen

Director · since 30 septembre 2021

Active

Ended mandates

Hilde Verlaenen

Director · since 21 mars 2002

Ended

HILDE VERLAENEN

Director

Ended

HILDE VERLAENEN

Manager

Ended

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	03/07/2026	23/07/2025	14/08/2024	18/10/2023	30/07/2022	23/07/2021
General meeting	02/07/2026	23/07/2025	13/08/2024	28/09/2023	24/06/2022	25/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	02/07/2026	03/07/2026	Dutch	PDF
Micro model	31/12/2024	23/07/2025	23/07/2025	Dutch	PDF
Micro model	31/12/2023	13/08/2024	14/08/2024	Dutch	PDF
Micro model	31/12/2022	28/09/2023	18/10/2023	Dutch	PDF
Micro model	31/12/2021	24/06/2022	30/07/2022	Dutch	PDF
Micro model	31/12/2020	25/06/2021	23/07/2021	Dutch	PDF
Micro model	31/12/2019	26/06/2020	10/07/2020	Dutch	PDF
Micro model	31/12/2018	28/06/2019	01/07/2019	Dutch	PDF
Micro model	31/12/2017	29/06/2018	02/07/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	17/07/2017	Dutch	PDF
Abridged model	31/12/2015	24/06/2016	12/07/2016	Dutch	PDF
Abridged model	31/12/2014	26/06/2015	15/07/2015	Dutch	PDF
Abridged model	31/12/2013	27/06/2014	17/07/2014	Dutch	PDF
Abridged model	31/12/2012	28/06/2013	14/07/2013	Dutch	PDF
Abridged model	31/12/2011	30/06/2012	31/07/2012	Dutch	PDF
Abridged model	31/12/2010	24/06/2011	13/07/2011	Dutch	PDF
Abridged model	31/12/2009	28/06/2010	21/07/2010	Dutch	PDF
Abridged model	31/12/2008	28/06/2009	28/07/2009	Dutch	PDF
Abridged model	31/12/2007	26/06/2008	15/09/2008	Dutch	PDF
Abridged model	31/12/2006	29/06/2007	28/03/2008	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 · 3 ended

Active mandates

Hilde Verlaenen

Director · since 30 septembre 2021

Active

Ended mandates

Hilde Verlaenen

Director · since 21 mars 2002

Ended

HILDE VERLAENEN

Director

Ended

HILDE VERLAENEN

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates13/10/2021
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
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 2025194 k €↑
2024
Annual accounts 2024118,3 k €↓
2023
Annual accounts 2023130,4 k €↑
2022
Annual accounts 202257,4 k €↓
2021
Annual accounts 2021122,5 k €↑
2020
Annual accounts 202098,3 k €↓
2019
Annual accounts 2019106,5 k €↑
2018
Annual accounts 201897,1 k €↑
2017
Annual accounts 201756,7 k €↓
2016
Annual accounts 201666,6 k €↑
2015
Annual accounts 201559,4 k €↓
2014
Annual accounts 201486,5 k €↓
2013
Annual accounts 2013117,1 k €↑
2012
Annual accounts 201288,7 k €↑
2011
Annual accounts 201179,9 k €↑
2010
Annual accounts 201055,5 k €↓
2009
Annual accounts 200975,9 k €↑
2008
Annual accounts 200837,7 k €↑
2007
Annual accounts 200736,2 k €↓
2006
Annual accounts 200644 k €
21/03/2002
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

HIVERCO

Overview

What does HIVERCO do?

Trend over 20 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