ACTIVE

HaW

Export PDF

Financial year 2025 · closed on 31/12/2025

Net result

764 k €

+37.6% YoY

Gross margin

500,4 k €

+11.3% YoY

Equity

2,9 M €

+13.2% YoY

Workforce

2,0 ETP

+42.9% YoY

What does HaW do?

HaW is a Private limited company incorporated in 2002. Its main activity is: Activities of holding companies. Its registered office is in Hasselt. It employs on average 2,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0478.058.659

Incorporation

25/07/2002

Legal form

Private limited company

Registered office

Thonissenlaan 58 box 601
3500 Hasselt · FlandreSee on map

Contributed capital

12 400,00 €

Latest accounts

31/12/2025

Average workforce

2,0 ETP

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 70200Management consultancy activities 70220Business and other management consultancy activities 74142Specialised design activities 68201Rental and operating of own or leased real estate+3

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

Available with a Rovalta subscriptionTry for 7 days

Recommended credit limit

✦ 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	500,4 k €	+11.3%	449,6 k €	+33.5%	336,8 k €	-42.7%	588,1 k €	+47.0%	400,1 k €	+0.5%	398 k €	+3.7%	383,9 k €	+17.1%	327,7 k €	+9.0%	300,5 k €	-0.3%	301,5 k €	-17.9%	367 k €	+34.4%	273,1 k €	+71.7%	159,1 k €	+116%	73,8 k €	+16.8%	63,2 k €	+11.8%	56,5 k €	+45.9%	38,8 k €	+24.8%	31,1 k €	+32.0%	23,5 k €	-42.2%	40,7 k €
EBITDA	444,2 k €	+12.5%	394,7 k €	+45.1%	272,1 k €	-48.7%	530,6 k €	+47.9%	358,8 k €	+1.2%	354,6 k €	+9.1%	324,9 k €	+21.5%	267,3 k €	+8.2%	247,1 k €	-12.8%	283,3 k €	-22.3%	364,5 k €	+35.1%	269,9 k €	+71.9%	157 k €	+118%	71,9 k €	+17.5%	61,2 k €	+12.2%	54,5 k €	+46.9%	37,1 k €	+24.8%	29,7 k €	+44.6%	20,6 k €	-45.9%	38 k €
Operating result	337,1 k €	+74.1%	193,7 k €	+705%	-32 k €	-114%	224,6 k €	+338%	51,3 k €	+1.2%	50,6 k €	+142%	21 k €	+158%	-36,3 k €	-219%	30,5 k €	-48.7%	59,5 k €	-56.1%	135,7 k €	-10.8%	152,3 k €	+12.1%	135,8 k €	+169%	50,5 k €	+27.0%	39,8 k €	+1.5%	39,2 k €	+76.9%	22,2 k €	-5.7%	23,5 k €	+21.5%	19,3 k €	-47.8%	37,1 k €
Net result	764 k €	+37.6%	555,2 k €	+27.6%	435,1 k €	-22.3%	559,6 k €	+59.6%	350,7 k €	+26.3%	277,7 k €	+81.2%	153,2 k €	-63.9%	423,9 k €	-15.4%	501 k €	+149%	201,1 k €	+453%	36,3 k €	-9.3%	40,1 k €	-89.3%	374,5 k €	+1101%	31,2 k €	-27.0%	42,7 k €	+97.9%	21,6 k €	+147%	8,7 k €	-58.4%	21 k €	+1.2%	20,8 k €	-31.1%	30,2 k €
Balance sheet
Equity	2,9 M €	+13.2%	2,5 M €	+5.4%	2,4 M €	-2.7%	2,5 M €	-2.1%	2,5 M €	+14.3%	2,2 M €	+14.2%	1,9 M €	+8.5%	1,8 M €	+30.9%	1,4 M €	+57.7%	867,7 k €	+30.2%	666,6 k €	+5.8%	630,2 k €	+6.8%	590,2 k €	+174%	215,6 k €	+16.9%	184,5 k €	+30.1%	141,7 k €	+18.0%	120,2 k €	+7.9%	111,4 k €	+23.3%	90,4 k €	-24.4%	119,6 k €
Total assets	4,2 M €	+13.9%	3,7 M €	+0.8%	3,6 M €	-6.6%	3,9 M €	-2.3%	4 M €	-0.2%	4 M €	-0.5%	4 M €	-10.1%	4,5 M €	+82.6%	2,4 M €	-11.4%	2,8 M €	-5.5%	2,9 M €	-7.5%	3,1 M €	-7.3%	3,4 M €	+911%	335,6 k €	-1.7%	341,2 k €	+6.8%	319,4 k €	+2.6%	311,2 k €	+12.3%	277,1 k €	+165%	104,7 k €	-24.9%	139,4 k €
Cash	1,8 M €	+469%	309,5 k €	-19.9%	386,4 k €	-44.1%	691 k €	+135%	293,9 k €	+76.1%	166,9 k €	+40.2%	119 k €	+39.3%	85,4 k €	+141%	35,5 k €	-69.5%	116,4 k €	+214%	37 k €	-54.4%	81,1 k €	+76.5%	46 k €	+15.7%	39,7 k €	-0.7%	40 k €	+33.6%	30 k €	+46.0%	20,5 k €	-38.4%	33,3 k €	-48.2%	64,4 k €	-35.9%	100,4 k €
Debts	1,3 M €	+15.6%	1,1 M €	-8.4%	1,2 M €	-13.4%	1,4 M €	-2.8%	1,4 M €	-18.3%	1,8 M €	-14.2%	2,1 M €	-22.7%	2,7 M €	+148%	1,1 M €	-43.2%	1,9 M €	-16.1%	2,2 M €	-10.8%	2,5 M €	-10.2%	2,8 M €	+2238%	119,9 k €	-23.5%	156,8 k €	-11.7%	177,6 k €	-7.0%	191 k €	+15.3%	165,7 k €	+1053%	14,4 k €	-27.5%	19,8 k €
Other
Workforce	2,0 ETP	+42.9%	1,4 ETP	+40.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 8 ended

Active mandates

Ann Vanheel

Director · since 18 octobre 2023

Active

Bart Derison

Director · since 18 octobre 2023

Active

Ended mandates

Ann Vanheel

Director · since 01 mars 2018

Ended

Ann Vanheel

Director · since 01 mars 2015

Ended

Ann Vanheel

Manager · since 01 mars 2015

Ended

Bart Derison

Director · since 12 juillet 2002

Ended

At this address

Other companies at this address

Company	CBE no.
Vereniging van Mede-eigenaars Residentie Thonis te 3500 Hasselt, Thonissenlaan 58● Active	1006.522.775

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	05/05/2026	08/05/2025	31/05/2024	06/07/2023	11/07/2022	02/07/2021
General meeting	24/04/2026	25/04/2025	26/04/2024	31/05/2023	29/04/2022	30/04/2021
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 days

Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	24/04/2026	05/05/2026	Dutch	PDF
Abridged model	31/12/2024	25/04/2025	08/05/2025	Dutch	PDF
Abridged model	31/12/2023	26/04/2024	31/05/2024	Dutch	PDF
Abridged model	31/12/2022	31/05/2023	06/07/2023	Dutch	PDF
Abridged model	31/12/2021	29/04/2022	11/07/2022	Dutch	PDF
Abridged model	31/12/2020	30/04/2021	02/07/2021	Dutch	PDF
Abridged model	31/12/2019	24/04/2020	03/07/2020	Dutch	PDF
Abridged model	31/12/2018	26/04/2019	28/06/2019	Dutch	PDF
Abridged model	31/12/2017	27/04/2018	02/07/2018	Dutch	PDF
Abridged model	31/12/2016	28/04/2017	14/07/2017	Dutch	PDF
Abridged model	31/12/2015	29/04/2016	29/07/2016	Dutch	PDF
Abridged model	31/12/2014	24/04/2015	13/08/2015	Dutch	PDF
Abridged model	31/12/2013	25/04/2014	04/07/2014	Dutch	PDF
Abridged model	31/12/2012	26/04/2013	10/07/2013	Dutch	PDF
Abridged model	31/12/2011	27/04/2012	18/07/2012	Dutch	PDF
Abridged model	31/12/2010	29/04/2011	27/07/2011	Dutch	PDF
Abridged model	31/12/2009	30/04/2010	12/07/2010	Dutch	PDF
Abridged model	31/12/2008	24/04/2009	29/07/2009	Dutch	PDF
Abridged model	31/12/2007	25/04/2008	11/07/2008	Dutch	PDF
Abridged model	31/12/2006	27/04/2007	11/07/2007	Dutch	PDF

Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 8 ended

Active mandates

Ann Vanheel

Director · since 18 octobre 2023

Active

Bart Derison

Director · since 18 octobre 2023

Active

Ended mandates

Ann Vanheel

Director · since 01 mars 2018

Ended

Ann Vanheel

Director · since 01 mars 2015

Ended

Ann Vanheel

Manager · since 01 mars 2015

Ended

Bart Derison

Director · since 12 juillet 2002

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office04/12/2025
MAATSCHAPPELIJKE ZETEL
PDF
Mandates03/11/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Registered office26/10/2018
MAATSCHAPPELIJKE ZETEL
PDF
Mandates16/04/2015
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring23/03/2015
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring12/01/2015
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
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 2025764 k €↑
2024
Annual accounts 2024555,2 k €↑
2023
Annual accounts 2023435,1 k €↓
2022
Annual accounts 2022559,6 k €↑
2021
Annual accounts 2021350,7 k €↑
2020
Annual accounts 2020277,7 k €↑
2019
Annual accounts 2019153,2 k €↓
2018
Annual accounts 2018423,9 k €↓
2017
Annual accounts 2017501 k €↑
2016
Annual accounts 2016201,1 k €↑
2015
Annual accounts 201536,3 k €↓
2014
Annual accounts 201440,1 k €↓
2013
Annual accounts 2013374,5 k €↑
2012
Annual accounts 201231,2 k €↓
2011
Annual accounts 201142,7 k €↑
2010
Annual accounts 201021,6 k €↑
2009
Annual accounts 20098,7 k €↓
2008
Annual accounts 200821 k €↑
2007
Annual accounts 200720,8 k €↓
2006
Annual accounts 200630,2 k €
25/07/2002
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

HaW

Overview

What does HaW do?

Trend over 20 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