ACTIVE

HSH

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Financial year 2025 · closed on 31/12/2025

Net result

165,5 k €

-76.2% YoY

Gross margin

262,6 k €

-75.4% YoY

Equity

829,9 k €

+16.6% YoY

What does HSH do?

HSH is a Private limited company incorporated in 2010. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Bruxelles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0824.964.313

Incorporation

14/04/2010

Legal form

Private limited company

Registered office

Rue Marcq 21
1000 Bruxelles · BruxellesSee on map

Contributed capital

99 579,00 €

Latest accounts

31/12/2025

Activities (NACE)

68201Rental and operating of own or leased real estate· main 68201Rental and operating of own or leased real estate 55203Holiday and other short-stay accommodation 55203Holiday and other short-stay accommodation

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011
Income statement
Gross margin	262,6 k €	-75.4%	1,1 M €	+3600%	28,9 k €	-89.3%	271,1 k €	+418%	52,3 k €	-78.3%	241,7 k €	+12.3%	215,3 k €	+51.6%	142 k €	+149%	57 k €	-69.8%	188,6 k €	+258%	52,6 k €	-38.3%	85,3 k €	+24.6%	68,4 k €	-57.7%	161,8 k €	-0.6%	162,8 k €
EBITDA	244,2 k €	-76.6%	1 M €	+18837%	5,5 k €	-97.8%	252,5 k €	+734%	30,3 k €	-86.6%	226,4 k €	+12.7%	201 k €	+61.9%	124,1 k €	+193%	42,4 k €	-72.7%	155,5 k €	+250%	44,4 k €	-43.0%	77,8 k €	+111%	36,9 k €	-77.0%	160,3 k €	-29.4%	227,2 k €
Operating result	167,8 k €	-82.7%	968,9 k €	+1196%	-88,4 k €	-158%	151,7 k €	+317%	-69,8 k €	-154%	130,3 k €	+539%	-29,7 k €	-156%	52,9 k €	+287%	-28,3 k €	-135%	81,1 k €	+257%	-51,6 k €	-1149%	-4,1 k €	+90.3%	-42,7 k €	-149%	87,6 k €	-28.3%	122,2 k €
Net result	165,5 k €	-76.2%	694,1 k €	+867%	-90,5 k €	-225%	72,2 k €	+174%	-97 k €	-306%	47 k €	+177%	-61,2 k €	-479%	16,1 k €	+119%	-84,2 k €	-349%	33,8 k €	+137%	-90,9 k €	-71.5%	-53 k €	+20.1%	-66,3 k €	-413%	21,2 k €	+106%	-369,4 k €
Balance sheet
Equity	829,9 k €	+16.6%	711,7 k €	+266%	194,7 k €	-31.7%	285,2 k €	+9.0%	261,6 k €	-27.0%	358,6 k €	-2.6%	368,2 k €	-24.7%	488,8 k €	+3.4%	472,7 k €	-15.4%	558,7 k €	-7.2%	602,1 k €	-13.1%	693 k €	-7.1%	745,9 k €	-8.2%	812,2 k €	+16.9%	694,7 k €
Total assets	1,7 M €	-13.0%	1,9 M €	-7.0%	2,1 M €	+0.3%	2 M €	+4.3%	2 M €	-5.3%	2,1 M €	-13.5%	2,4 M €	+42.5%	1,7 M €	-25.7%	2,3 M €	+25.3%	1,8 M €	-6.2%	1,9 M €	+12.8%	1,7 M €	-3.9%	1,8 M €	-4.4%	1,9 M €	+23.5%	1,5 M €
Cash	54,5 k €	-9.2%	60,1 k €	-51.5%	123,7 k €	-34.1%	187,6 k €	+11902%	1,6 k €	-96.5%	44,1 k €	-77.7%	197,6 k €	-49.8%	393,2 k €	+218%	123,7 k €	-64.7%	350 k €	+1537%	21,4 k €	+217%	6,7 k €	-71.0%	23,2 k €	-27.4%	32 k €	-56.2%	73 k €
Debts	526,6 k €	-41.1%	894,8 k €	-50.4%	1,8 M €	+9.1%	1,7 M €	+0.3%	1,6 M €	-0.8%	1,7 M €	-18.0%	2 M €	+69.7%	1,2 M €	-33.4%	1,8 M €	+43.4%	1,2 M €	-5.8%	1,3 M €	+30.5%	1 M €	-1.3%	1 M €	-1.5%	1 M €	+29.2%	809 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 · 2 ended

Active mandates

JULIEN WILLEM

Director

Active

Ended mandates

Julien Willem

Mandate

Ended

Julien WILLEM

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro 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	30/07/2026	31/07/2025	26/07/2024	11/07/2023	24/08/2022	30/09/2021
General meeting	29/07/2026	31/07/2025	21/06/2024	16/06/2023	17/06/2022	18/06/2021
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

15 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	29/07/2026	30/07/2026	French	PDF
Micro model	31/12/2024	31/07/2025	31/07/2025	French	PDF
Abridged model	31/12/2023	21/06/2024	26/07/2024	French	PDF
Abridged model	31/12/2022	16/06/2023	11/07/2023	French	PDF
Abridged model	31/12/2021	17/06/2022	24/08/2022	French	PDF
Abridged model	31/12/2020	18/06/2021	30/09/2021	French	PDF
Abridged model	31/12/2019	19/06/2020	26/10/2020	French	PDF
Abridged model	31/12/2018	21/06/2019	28/08/2019	French	PDF
Abridged model	31/12/2017	15/06/2018	22/06/2018	French	PDF
Abridged model	31/12/2016	16/06/2017	31/08/2017	French	PDF
Abridged model	31/12/2015	30/09/2016	30/11/2016	French	PDF
Abridged model	31/12/2014	07/07/2015	31/08/2015	French	PDF
Abridged model	31/12/2013	13/06/2014	09/01/2015	French	PDF
Abridged model	31/12/2012	11/03/2013	13/06/2013	French	PDF
Abridged model	31/12/2011	07/05/2012	04/07/2012	French	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 · 2 ended

Active mandates

JULIEN WILLEM

Director

Active

Ended mandates

Julien Willem

Mandate

Ended

Julien WILLEM

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates10/01/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Registered office22/04/2022
SIEGE SOCIAL
PDF
Registered office08/04/2019
SIEGE SOCIAL
PDF
Registered office10/05/2016
SIEGE SOCIAL
PDF
Registered office11/09/2014
SIEGE SOCIAL
PDF
Registered office16/04/2013
SIEGE SOCIAL
PDF
Restructuring06/08/2012
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring30/05/2012
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, 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

2025
Annual accounts 2025165,5 k €↓
2024
Annual accounts 2024694,1 k €↑
2023
Annual accounts 2023-90,5 k €↓
2022
Annual accounts 202272,2 k €↑
2021
Annual accounts 2021-97 k €↓
2020
Annual accounts 202047 k €↑
2019
Annual accounts 2019-61,2 k €↓
2018
Annual accounts 201816,1 k €↑
2017
Annual accounts 2017-84,2 k €↓
2016
Annual accounts 201633,8 k €↑
2015
Annual accounts 2015-90,9 k €↓
2014
Annual accounts 2014-53 k €↑
2013
Annual accounts 2013-66,3 k €↓
2012
Annual accounts 201221,2 k €↑
2011
Annual accounts 2011-369,4 k €
14/04/2010
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

HSH

Overview

What does HSH do?

Trend over 15 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