ACTIVE

HEULCO

Export PDF
Financial year 2025 · closed on 31/12/2025
Net result
138,5 k €
-54.2% YoY
Gross margin
1,1 M €
-17.9% YoY
Equity
1,5 M €
+0.2% YoY
Workforce
14,3 ETP
+0.7% YoY

What does HEULCO do?

HEULCO is a Public limited company incorporated in 2002. Its main activity is: Retail sale in non-specialised stores with food, beverages or tobacco predominating. Its registered office is in Ingelmunster. It employs on average 14,3 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0478.187.729
Incorporation
21/08/2002
Legal form
Public limited company
Registered office
Nijverheidstraat 2A
8770 Ingelmunster · FlandreSee on map
Contributed capital
62 000,00 €
Latest accounts
31/12/2025
Average workforce
14,3 ETP
Activities (NACE)
47110Retail sale in non-specialised stores with food, beverages or tobacco predominating· main47113Retail sale in non-specialised stores with food, beverages or tobacco predominating47114Retail sale in non-specialised stores with food, beverages or tobacco predominating52113Warehousing and storage52114Warehousing and storage
Joint committees (2)
  • 119
  • 201
Signals
ProfitableSolid equityLow riskPositive 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 19 financial years

2025202420232022202120192018201720162015201420132012201120102009200820072006
Income statement
Gross margin1,1 M €1,3 M €629 k €551,9 k €691,7 k €602,7 k €614,3 k €508,1 k €396,2 k €503,8 k €465,2 k €498,2 k €491,9 k €501,1 k €501,6 k €452,8 k €425,1 k €481 k €506,7 k €
EBITDA592,7 k €785,4 k €273 k €299,3 k €369 k €338,7 k €354,6 k €301 k €156,6 k €291,9 k €264,2 k €306,7 k €302,5 k €334,2 k €326,3 k €267,9 k €248,1 k €310,6 k €329,6 k €
Operating result253,3 k €474,4 k €167 k €278,7 k €347,6 k €320,8 k €337,7 k €281,4 k €108,1 k €273,4 k €234,3 k €275,3 k €235,1 k €270,8 k €270,5 k €211,8 k €181,2 k €212,3 k €236,1 k €
Net result138,5 k €302,4 k €137,1 k €195,4 k €241,5 k €216 k €227 k €185,9 k €60 k €165 k €124,3 k €180,4 k €159,3 k €198,8 k €191,5 k €149,6 k €135,3 k €159,7 k €162,7 k €
Balance sheet
Equity1,5 M €1,5 M €1,2 M €1,2 M €1,1 M €803,3 k €672,3 k €665,3 k €665,1 k €665 k €500 k €213,7 k €463,9 k €304,6 k €865,8 k €774,3 k €704,7 k €649,4 k €489,6 k €
Total assets4,2 M €4,2 M €4,3 M €2,2 M €2,4 M €1,4 M €1,4 M €1,5 M €1,3 M €1,8 M €1,7 M €1,9 M €1,6 M €1,6 M €1,5 M €1,3 M €1,4 M €1,4 M €1,3 M €
Cash517,1 k €155,4 k €448 k €1 M €1,1 M €646,3 k €659,8 k €515,8 k €445,6 k €993,5 k €920,1 k €1,1 M €794,6 k €800,2 k €741,1 k €349,2 k €354,9 k €334,9 k €99,2 k €
Debts2,5 M €2,5 M €2,8 M €701,8 k €893,4 k €619,7 k €761,4 k €797,4 k €648,9 k €1,1 M €1,2 M €1,6 M €1,1 M €1,3 M €659,8 k €572,3 k €649,4 k €747,1 k €825,7 k €
Other
Workforce14,3 ETP14,2 ETP11,0 ETP9,2 ETP10,1 ETP9,8 ETP9,6 ETP8,5 ETP7,5 ETP7,1 ETP7,3 ETP6,6 ETP7,0 ETP6,5 ETP6,7 ETP7,9 ETP7,7 ETP8,5 ETP9,3 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 · 4 active · 15 ended

Active mandates

Jelle Maes

Director · since 01 mars 2026

Active
Marie Halsberghe

Director · since 01 mars 2026

Active
Sabine Lecot

Manager · since 09 juin 2016

Active
Veda

Wettelijke vertegenwoordiger · since 12 août 2002 · 0421.954.552

Represented by Paul Vanhonsebrouck

Active

Ended mandates

Heidi Vandorpe

Director · since 01 janvier 2017 · until 01 janvier 2023

Ended
Heidi Vandorpe

Director · since 01 janvier 2017 · until 30 juin 2028

Ended
Heidi Vandorpe

Manager · since 01 janvier 2017

Ended
HEIDI VANDORPE

Director · since 01 janvier 2017

Ended
At this address

Other companies at this address

CompanyCBE no.
ALIMBATTICE● Active
0475.731.055
BEST● Active
0412.653.539
CHASCO● Active
0748.445.070
DEVAN● Active
0434.542.380
FRAPA● Active
1001.704.350
HERVECO● Active
0475.728.481
INGAPA● Active
0759.598.882
JMPL - SPA● Active
0432.077.788
KRUICO● Active
0441.650.304
LENDAL● Active
0424.012.338
Malco● Active
0429.215.892
MARCO● Active
0454.270.893
PAPYPOL● Active
0893.136.210
Theuco● Active
0426.532.259
TIMPA● Active
1039.092.704
TOELPA● Active
0715.967.688
TROISCO● Active
1024.422.146
UNICOL● Active
0423.109.941
VanOudel● Active
1001.946.850
VIRSPACO● Active
1030.868.686
Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date18/08/202626/08/202504/07/202407/07/202329/07/202229/08/2021
General meeting11/06/202612/06/202513/06/202408/06/202309/06/202210/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

Looking for more information about this company?

Try for 7 days
Filings

Annual accounts filings

20 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202511/06/202618/08/2026DutchPDF
Abridged model31/12/202412/06/202526/08/2025DutchPDF
Abridged model31/12/202313/06/202404/07/2024DutchPDF
Abridged model31/12/202208/06/202307/07/2023DutchPDF
Abridged model31/12/202109/06/202229/07/2022DutchPDF
Abridged model31/12/202010/06/202129/08/2021DutchPDF
Abridged model31/12/201911/06/202025/08/2020DutchPDF
Abridged model31/12/201813/06/201928/08/2019DutchPDF
Abridged model31/12/201714/06/201803/07/2018DutchPDF
Abridged model31/12/201608/06/201711/09/2017DutchPDF
Abridged model31/12/201509/06/201608/08/2016DutchPDF
Abridged model31/12/201411/06/201519/08/2015DutchPDF
Abridged model31/12/201312/06/201418/08/2014DutchPDF
Abridged model31/12/201213/06/201326/08/2013DutchPDF
Abridged model31/12/201114/06/201223/08/2012DutchPDF
Abridged model31/12/201009/06/201123/08/2011DutchPDF
Abridged model31/12/200910/06/201023/07/2010DutchPDF
Abridged model31/12/200811/06/200902/07/2009DutchPDF
Abridged model31/12/200712/06/200803/07/2008DutchPDF
Abridged model31/12/200614/06/200706/07/2007DutchPDF
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 · 4 active · 15 ended

Active mandates

Jelle Maes

Director · since 01 mars 2026

Active
Marie Halsberghe

Director · since 01 mars 2026

Active
Sabine Lecot

Manager · since 09 juin 2016

Active
Veda

Wettelijke vertegenwoordiger · since 12 août 2002 · 0421.954.552

Represented by Paul Vanhonsebrouck

Active

Ended mandates

Heidi Vandorpe

Director · since 01 janvier 2017 · until 01 janvier 2023

Ended
Heidi Vandorpe

Director · since 01 janvier 2017 · until 30 juin 2028

Ended
Heidi Vandorpe

Manager · since 01 janvier 2017

Ended
HEIDI VANDORPE

Director · since 01 janvier 2017

Ended
Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days
Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates04/05/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates04/03/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates29/07/2022
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Capital / shares07/06/2022
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - KAPITAAL - AANDELEN
    PDF
  • Mandates24/02/2017
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates28/12/2016
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Capital / shares10/04/2014
    KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Mandates29/07/2010
    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

Timeline

  1. 2025
    Annual accounts 2025138,5 k €↓
  2. 2024
    Annual accounts 2024302,4 k €↑
  3. 2023
    Annual accounts 2023137,1 k €↓
  4. 2022
    Annual accounts 2022195,4 k €↓
  5. 2021
    Annual accounts 2021241,5 k €↑
  6. 2019
    Annual accounts 2019216 k €↓
  7. 2018
    Annual accounts 2018227 k €↑
  8. 2017
    Annual accounts 2017185,9 k €↑
  9. 2016
    Annual accounts 201660 k €↓
  10. 2015
    Annual accounts 2015165 k €↑
  11. 2014
    Annual accounts 2014124,3 k €↓
  12. 2013
    Annual accounts 2013180,4 k €↑
  13. 2012
    Annual accounts 2012159,3 k €↓
  14. 2011
    Annual accounts 2011198,8 k €↑
  15. 2010
    Annual accounts 2010191,5 k €↑
  16. 2009
    Annual accounts 2009149,6 k €↑
  17. 2008
    Annual accounts 2008135,3 k €↓
  18. 2007
    Annual accounts 2007159,7 k €↓
  19. 2006
    Annual accounts 2006162,7 k €
  20. 21/08/2002
    IncorporationPublic limited company