ACTIVE

HW. CONSTRUCT

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Financial year 2025 · closed on 31/12/2025

Net result

7,0 k €

+4.0% YoY

Gross margin

269,3 k €

-21.4% YoY

Equity

255,5 k €

+2.8% YoY

What does HW. CONSTRUCT do?

HW. CONSTRUCT is a Private limited company incorporated in 2004. Its registered office is in Crisnée.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0867.461.397

Incorporation

28/09/2004

Legal form

Private limited company

Registered office

Chaussée Verte 18
4367 Crisnée · WallonieSee on map

Contributed capital

15 800,00 €

Latest accounts

31/12/2025

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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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	269,3 k €	-21.4%	342,7 k €	+2.9%	333,1 k €	+25.1%	266,3 k €	+20.5%	221,0 k €	+15.3%	191,7 k €	-6.2%	204,3 k €	+34.4%	152,0 k €	-18.5%	186,5 k €	+11.1%	167,8 k €	+18.9%	141,2 k €	-0.6%	142,0 k €	-6.3%	151,6 k €	-9.7%	167,8 k €	+7.5%	156,0 k €	-26.1%	211,3 k €	+118%	96,8 k €	-3.5%	100,3 k €	-43.2%	176,4 k €	+46.5%	120,4 k €
EBITDA	97,1 k €	-6.1%	103,4 k €	-10.5%	115,5 k €	+11.5%	103,6 k €	+17.5%	88,1 k €	+52.4%	57,8 k €	-10.2%	64,4 k €	+356%	14,1 k €	-73.7%	53,8 k €	+2.2%	52,6 k €	-10.7%	59,0 k €	+54.7%	38,1 k €	-41.4%	65,1 k €	+42.5%	45,7 k €	+37.3%	33,3 k €	-63.0%	89,9 k €	+323%	21,3 k €	+40.2%	15,2 k €	-35.4%	23,5 k €	+288%	6,0 k €
Operating result	30,6 k €	-12.7%	35,0 k €	-53.1%	74,6 k €	+34.7%	55,4 k €	-7.4%	59,8 k €	+37.2%	43,6 k €	-7.7%	47,2 k €	+251%	-31,2 k €	-515%	7,5 k €	-16.8%	9,0 k €	-12.5%	10,3 k €	+200%	-10,4 k €	-142%	24,4 k €	+1023%	2,2 k €	+134%	-6,3 k €	-110%	62,1 k €	+586%	9,1 k €	+337%	2,1 k €	-81.7%	11,3 k €	+289%	-6,0 k €
Net result	7,0 k €	+4.0%	6,7 k €	-85.6%	46,6 k €	+31.6%	35,4 k €	-12.4%	40,4 k €	+2.9%	39,3 k €	-1.0%	39,7 k €	+211%	-35,8 k €	-1272%	3,1 k €	-30.8%	4,4 k €	+21.5%	3,6 k €	+1045%	316,8 €	-98.8%	27,2 k €	+1101%	-2,7 k €	+83.1%	-16,1 k €	-137%	43,4 k €	+1040%	3,8 k €	+727%	-606,7 €	-541%	137,7 €	+102%	-8,8 k €
Balance sheet
Equity	255,5 k €	+2.8%	248,5 k €	+2.8%	241,8 k €	+23.9%	195,2 k €	+22.2%	159,7 k €	+33.9%	119,3 k €	+49.1%	80,0 k €	+98.6%	40,3 k €	-47.0%	76,0 k €	+4.2%	73,0 k €	+6.4%	68,6 k €	+5.6%	65,0 k €	+0.5%	64,6 k €	+72.5%	37,5 k €	-6.8%	40,2 k €	-28.5%	56,3 k €	+337%	12,9 k €	+42.0%	9,1 k €	+14243%	63,1 €	+185%	-74,5 €
Total assets	644,4 k €	-10.1%	716,5 k €	-12.1%	815,0 k €	+40.0%	582,2 k €	+55.0%	375,6 k €	+74.4%	215,3 k €	-0.4%	216,2 k €	+4.5%	206,9 k €	-41.6%	354,1 k €	+59.1%	222,5 k €	+9.3%	203,5 k €	-25.3%	272,5 k €	+35.4%	201,2 k €	-10.2%	224,0 k €	+2.5%	218,4 k €	-14.3%	254,9 k €	+84.8%	137,9 k €	+87.3%	73,6 k €	-45.9%	136,1 k €	+41.5%	96,2 k €
Cash	53,7 k €	+20.5%	44,6 k €	-42.5%	77,6 k €		–		14,9 k €	-80.9%	78,1 k €	+195%	26,5 k €		–		21,9 k €	+241%	6,4 k €	-45.4%	11,7 k €	-81.7%	64,2 k €		–		–		19,5 k €	+218%	6,1 k €	-40.3%	10,3 k €	-5.7%	10,9 k €		–		–
Debts	388,7 k €	-16.8%	467,5 k €	-18.4%	573,1 k €	+48.1%	387,1 k €	+79.3%	215,9 k €	+125%	96,1 k €	-29.4%	136,2 k €	-18.2%	166,5 k €	-40.1%	277,9 k €	+86.4%	149,1 k €	+10.5%	134,9 k €	-34.8%	207,1 k €	+52.3%	136,0 k €	-26.6%	185,2 k €	+4.5%	177,3 k €	-10.6%	198,2 k €	+59.4%	124,3 k €	+94.3%	64,0 k €	-52.9%	135,8 k €	+47.0%	92,4 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		2,0 ETP	-28.6%	2,8 ETP	+7.7%	2,6 ETP	-13.3%	3,0 ETP	-9.1%	3,3 ETP	-2.9%	3,4 ETP	+3.0%	3,3 ETP	+26.9%	2,6 ETP	-31.6%	3,8 ETP	+15.2%	3,3 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 · 1 active · 2 ended

Active mandates

Olivier HERTEN

Director · since 20 septembre 2004

Active

Ended mandates

Olivier HERTEN

Manager · since 20 septembre 2004

Ended

OLIVIER HERTEN

Director

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	13/07/2026	22/07/2025	26/08/2024	25/07/2023	29/07/2022	16/07/2021
General meeting	27/06/2026	28/06/2025	29/06/2024	30/06/2023	25/06/2022	26/06/2021
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	27/06/2026	13/07/2026	French	PDF
Micro model	31/12/2024	28/06/2025	22/07/2025	French	PDF
Micro model	31/12/2023	29/06/2024	26/08/2024	French	PDF
Micro model	31/12/2022	30/06/2023	25/07/2023	French	PDF
Micro model	31/12/2021	25/06/2022	29/07/2022	French	PDF
Micro model	31/12/2020	26/06/2021	16/07/2021	French	PDF
Micro model	31/12/2019	27/10/2020	29/10/2020	French	PDF
Micro model	31/12/2018	08/06/2019	16/07/2019	French	PDF
Micro model	31/12/2017	29/08/2018	30/08/2018	French	PDF
Micro model	31/12/2016	10/06/2017	18/07/2017	French	PDF
Abridged model	31/12/2015	11/06/2016	29/08/2016	French	PDF
Abridged model	31/12/2014	13/06/2015	27/08/2015	French	PDF
Abridged model	31/12/2013	29/06/2014	27/08/2014	French	PDF
Abridged model	31/12/2012	29/06/2013	28/08/2013	French	PDF
Abridged model	31/12/2011	09/06/2012	01/08/2012	French	PDF
Abridged model	31/12/2010	11/06/2011	30/08/2011	French	PDF
Abridged model	31/12/2009	30/06/2010	31/08/2010	French	PDF
Abridged model	31/12/2008	30/06/2009	28/07/2009	French	PDF
Abridged model	31/12/2007	14/06/2008	02/09/2008	French	PDF
Abridged model	31/12/2006	09/06/2007	31/08/2007	French	PDF

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 · 1 active · 2 ended

Active mandates

Olivier HERTEN

Director · since 20 septembre 2004

Active

Ended mandates

Olivier HERTEN

Manager · since 20 septembre 2004

Ended

OLIVIER HERTEN

Director

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates13/11/2023
MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Mandates17/04/2008
DEMISSIONS, NOMINATIONS
PDF
Other06/10/2004
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

2025
Annual accounts 20257,0 k €↑
2024
Annual accounts 20246,7 k €↓
2023
Annual accounts 202346,6 k €↑
2022
Annual accounts 202235,4 k €↓
2021
Annual accounts 202140,4 k €↑
2020
Annual accounts 202039,3 k €↓
2019
Annual accounts 201939,7 k €↑
2018
Annual accounts 2018-35,8 k €↓
2017
Annual accounts 20173,1 k €↓
2016
Annual accounts 20164,4 k €↑
2015
Annual accounts 20153,6 k €↑
2014
Annual accounts 2014316,8 €↓
2013
Annual accounts 201327,2 k €↑
2012
Annual accounts 2012-2,7 k €↑
2011
Annual accounts 2011-16,1 k €↓
2010
Annual accounts 201043,4 k €↑
2009
Annual accounts 20093,8 k €↑
2008
Annual accounts 2008-606,7 €↓
2007
Annual accounts 2007137,7 €↑
2006
Annual accounts 2006-8,8 k €
28/09/2004
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

HW. CONSTRUCT

Overview

What does HW. CONSTRUCT 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