ACTIVE

H.F.L.

Financial year 2025 · Closed on 31/12/2025

Net result144,7 k €-88,3 %over 1 year

Gross margin148,4 k €-17,6 %over 1 year

Equity3,1 M €+4,8 %over 1 year

Identity

Source · BCE/KBO

H.F.L. is a Public limited company incorporated in 2004. Its main activity is: Raising of horses and other equines. Its registered office is in Fleurus.

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0869.619.549
Incorporation: 25/10/2004
Legal form: Public limited company
Registered office: Avenue de Heppignies(H) ZI
6220 Fleurus · WallonieSee on map
Contributed capital: 660 352,00 €
Latest accounts: 31/12/2025

Activities (NACE)

01430Raising of horses and other equines· main 65231Reinsurance 70200Management consultancy activities 70220Business and other management consultancy activities 01430Raising of horses and other equines 01430Raising of horses and other equines+11

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 20 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	148,4 k €	-17.6%	180,1 k €	+85.4%	97,2 k €	-28.4%	135,8 k €	-11.9%	154,2 k €
EBITDA	94 k €	-44.1%	168,2 k €	+80.3%	93,3 k €	-29.0%	131,3 k €	-14.2%	153,1 k €
Operating result	63,8 k €	-56.8%	147,8 k €	+87.9%	78,7 k €	-31.1%	114,1 k €	-19.2%	141,2 k €
Net result	144,7 k €	-88.3%	1,2 M €	+1023%	110,2 k €	-6.2%	117,6 k €	+16.9%	100,6 k €
Balance sheet
Equity	3,1 M €	+4.8%	3 M €	+70.5%	1,8 M €	+6.7%	1,6 M €	+7.7%	1,5 M €
Total assets	4,4 M €	-2.9%	4,6 M €	+41.4%	3,2 M €	-2.1%	3,3 M €	+14.3%	2,9 M €
Cash	322,9 k €	+19.7%	269,7 k €	+1080%	22,9 k €	+208%	7,4 k €	-73.9%	28,4 k €
Debts	1,3 M €	-17.6%	1,6 M €	+6.9%	1,5 M €	-10.9%	1,7 M €	+21.7%	1,4 M €

Valuation

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 1 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
MICHELINE STAINIER	Directorsince 20/10/2004
PASCAL LENOBLE	Managing directorsince 20/10/2004

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
H.F.L.0869.619.549	Managing director2018 accountsDirector2018 accounts

Full financial information

Source · NBB

	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	17/06/2026	09/07/2025	28/06/2024	12/07/2023	24/06/2022	01/07/2021
General meeting	12/06/2026	13/06/2025	14/06/2024	09/06/2023	10/06/2022	11/06/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	12/06/2026	17/06/2026	French	PDF
Micro model	31/12/2024	13/06/2025	09/07/2025	French	PDF
Micro model	31/12/2023	14/06/2024	28/06/2024	French	PDF
Micro model	31/12/2022	09/06/2023	12/07/2023	French	PDF
Micro model	31/12/2021	10/06/2022	24/06/2022	French	PDF
Micro model	31/12/2020	11/06/2021	01/07/2021	French	PDF
Micro model	31/12/2019	12/06/2020	03/07/2020	French	PDF
Micro model	31/12/2018	14/06/2019	28/08/2019	French	PDF
Micro model	31/12/2017	08/06/2018	28/09/2018	French	PDF
Micro model	31/12/2016	09/06/2017	31/07/2017	French	PDF
Abridged model	31/12/2015	10/06/2016	28/06/2016	French	PDF
Abridged model	31/12/2014	12/06/2015	25/06/2015	French	PDF
Abridged model	31/12/2013	13/06/2014	31/07/2014	French	PDF
Abridged model	31/12/2012	14/06/2013	23/07/2013	French	PDF
Abridged model	31/12/2011	08/06/2012	25/06/2012	French	PDF
Abridged model	31/12/2010	10/06/2011	28/06/2011	French	PDF
Abridged model	31/12/2009	11/06/2010	22/06/2010	French	PDF
Abridged model	31/12/2008	12/06/2009	07/07/2009	French	PDF
Abridged model	31/12/2007	13/06/2008	15/07/2008	French	PDF
Abridged model	31/12/2006	08/06/2007	12/06/2007	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 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.

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 1 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
MICHELINE STAINIER	Directorsince 20/10/2004
PASCAL LENOBLE	Managing directorsince 20/10/2004

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
H.F.L.0869.619.549	Managing director2018 accountsDirector2018 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates13/11/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS
PDF
Mandates22/10/2020
DEMISSIONS, NOMINATIONS
PDF
Other08/12/2011
OBJET - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates14/10/2011
DEMISSIONS, NOMINATIONS
PDF
Mandates12/07/2010
DEMISSIONS, NOMINATIONS
PDF
Capital / shares22/12/2009
CAPITAL, ACTIONS
PDF
Other04/11/2004
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
PDF

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A company's peers, by sector and size, are included in the Business plan.

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Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings20 filings

Mandates

MICHELINE STAINIER

PASCAL LENOBLE

H.F.L.

20042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026

H.F.L.

ZI d'Heppignies, avenue d'Heppignies 8, 6220 FleurusZI d'Heppignies, avenue d'Heppignies 8, 6220 Fleurus

Director

Managing director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Avenue de Heppignies(H) ZI, 6220 FleurusCurrent		CBE
ZI d'Heppignies, avenue d'Heppignies 8, 6220 Fleurus	accounts 2024 → 2025	Accounts 2025 · 2026-00185179
ZI d'Heppignies, avenue d'Heppignies 6, 6220 Fleurus	accounts 2023	Accounts 2023 · 2024-00196566
ZI d'Heppignies, avenue d'Heppignies 8, 6220 Fleurus	accounts 2021 → 2022	Accounts 2022 · 2023-00233334

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
H.F.L.Current	accounts 2006 → 2025	Accounts 2025 · 2026-00185179

Events

2025
Annual accounts 2025144,7 k €↓
2024
Annual accounts 20241,2 M €↑
2023
Annual accounts 2023110,2 k €↓
2022
Annual accounts 2022117,6 k €↑
2021
Annual accounts 2021100,6 k €↓
2020
Annual accounts 2020126,8 k €↑
2019
Annual accounts 201980,4 k €↑
2018
Annual accounts 201874,1 k €↑
2017
Annual accounts 201759,4 k €↑
2016
Annual accounts 201641,6 k €↑
2015
Annual accounts 2015-7,6 k €↑
2014
Annual accounts 2014-54 k €↑
2013
Annual accounts 2013-56,8 k €↑
2012
Annual accounts 2012-68,1 k €↓
2011
Annual accounts 201135,7 k €↑
2010
Annual accounts 201017,1 k €↑
2009
Annual accounts 2009-2,5 k €↓
2008
Annual accounts 200867,6 k €↑
2007
Annual accounts 200732,5 k €↓
2006
Annual accounts 2006500 k €
25/10/2004
IncorporationPublic limited company

H.F.L.

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events