ACTIVE

H-Rail

Financial year 2025 · closed on 31/12/2025
Net result
24,8 k €
-32.5% YoY
Gross margin
77,7 k €
-36.6% YoY
Equity
580,4 k €
+4.5% YoY

What does H-Rail do?

H-Rail is a Private limited company incorporated in 2021. Its main activity is: Construction of railways and underground railways. Its registered office is in Nivelles.

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0778.911.978
Incorporation
21/12/2021
Legal form
Private limited company
Registered office
Avenue de Burlet 69A
1400 Nivelles · WallonieSee on map
Contributed capital
167 600,00 €
Latest accounts
31/12/2025
Signals
ProfitableSolid equityLow riskPositive cashflowPositive EBITDA
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 4 financial years

2025202420232022
Income statement
Gross margin77,7 k €122,5 k €87,5 k €492,7 k €
EBITDA76,7 k €121,4 k €87,5 k €492,5 k €
Operating result45,9 k €52 k €22,7 k €431,3 k €
Net result24,8 k €36,8 k €14,8 k €336,5 k €
Balance sheet
Equity580,4 k €555,6 k €518,8 k €504,1 k €
Total assets829,6 k €989,9 k €1,2 M €1 M €
Cash20,3 k €124,5 k €4,2 k €9,9 k €
Debts249,2 k €434,3 k €684,1 k €514,3 k €
Other
Workforce0,0 ETP0,0 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 5 ended

Active mandates

CHeC!

Director · since 21 décembre 2021 · 0720.781.066

Represented by Christof Heremans

Active
COSIBO

Director · since 21 décembre 2021 · 0776.989.202

Represented by Simon BORREMANS

Active
SP Consult SA

Director · since 21 décembre 2021 · 0778.431.928

Represented by Simon Penart

Active

Ended mandates

CHeC!

Director · since 21 décembre 2021 · 0720.781.066

Represented by Heremans CHRISTOF

Ended
COSIBO

Director · since 21 décembre 2021 · 0776.989.202

Represented by Borremans SIMON

Ended
SP Consult

Director · since 21 décembre 2021 · 0778.431.928

Represented by Penart SIMON

Ended
SP Consult

Director · since 21 décembre 2021

Represented by Penart SIMON

Ended
Annual accounts

Full financial information

2025202420232022
Type of accountMicro modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202321/12/2021
Closing of the financial year31/12/202531/12/202431/12/202331/12/2022
Length of the financial year12 months12 months12 months13 months
Filing date25/06/202630/06/202524/07/202427/06/2023
General meeting05/06/202606/06/202507/06/202402/06/2023
Currency of the financial yearEUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

4 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Micro model31/12/202505/06/202625/06/2026FrenchPDF
Abridged model31/12/202406/06/202530/06/2025FrenchPDF
Abridged model31/12/202307/06/202424/07/2024FrenchPDF
Abridged model31/12/202202/06/202327/06/2023FrenchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 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 31/12/2025 · 3 active · 5 ended

Active mandates

CHeC!

Director · since 21 décembre 2021 · 0720.781.066

Represented by Christof Heremans

Active
COSIBO

Director · since 21 décembre 2021 · 0776.989.202

Represented by Simon BORREMANS

Active
SP Consult SA

Director · since 21 décembre 2021 · 0778.431.928

Represented by Simon Penart

Active

Ended mandates

CHeC!

Director · since 21 décembre 2021 · 0720.781.066

Represented by Heremans CHRISTOF

Ended
COSIBO

Director · since 21 décembre 2021 · 0776.989.202

Represented by Borremans SIMON

Ended
SP Consult

Director · since 21 décembre 2021 · 0778.431.928

Represented by Penart SIMON

Ended
SP Consult

Director · since 21 décembre 2021

Represented by Penart SIMON

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Registered office02/02/2024
    SIEGE SOCIAL
    PDF
  • Other23/12/2021
    RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
    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 202524,8 k €
  2. 2024
    Annual accounts 202436,8 k €
  3. 2023
    Annual accounts 202314,8 k €
  4. 2022
    Annual accounts 2022336,5 k €
  5. 21/12/2021
    IncorporationPrivate limited company