ACTIVE

HERITAGE FUND

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Financial year 2025 · closed on 31/12/2025

Net result

28,1 M €

+3046.1% YoY

Gross margin

-92,8 k €

+10.9% YoY

Equity

79,8 M €

+54.4% YoY

What does HERITAGE FUND do?

HERITAGE FUND is a Private limited company incorporated in 2006. Its main activity is: Activities of holding companies. Its registered office is in Bruxelles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0885.288.217

Incorporation

28/11/2006

Legal form

Private limited company

Registered office

Avenue Marnix 23
1000 Bruxelles · BruxellesSee on map

Contributed capital

108 254 196,00 €

Latest accounts

31/12/2025

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies

Signals

ProfitableSolid equityPositive cashflow

View the BCE/KBO Public Search record →

Health score

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Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	-92,8 k €	+10.9%	-104,2 k €		–		–		–		–		-54,9 k €	-15.1%	-47,8 k €	-148%	-19,3 k €	+43.0%	-33,8 k €	-39.6%	-24,2 k €	+7.4%	-26,2 k €	+34.3%	-39,8 k €	+44.1%	-71,2 k €	+72.1%	-254,8 k €	-95.8%	-130,1 k €	-30.2%	-100 k €	-121%	-45,3 k €	+44.8%	-81,9 k €
EBITDA	-95,4 k €	+11.6%	-108 k €	-125%	-47,9 k €	+19.8%	-59,8 k €	-4.2%	-57,4 k €	+12.7%	-65,8 k €	-17.8%	-55,8 k €	-14.8%	-48,6 k €	-141%	-20,2 k €	+41.9%	-34,7 k €	-20.7%	-28,7 k €	+11.8%	-32,6 k €	+34.1%	-49,4 k €	+40.8%	-83,4 k €	+68.1%	-261,8 k €	-99.7%	-131,1 k €	-29.9%	-100,9 k €	-85.6%	-54,4 k €	+42.7%	-94,8 k €
Operating result	-95,4 k €	+11.6%	-108 k €	-125%	-47,9 k €	+19.8%	-59,8 k €	-4.2%	-57,4 k €	+12.7%	-65,8 k €	-17.8%	-55,8 k €	-14.8%	-48,6 k €	-141%	-20,2 k €	+41.9%	-34,7 k €	-20.7%	-28,7 k €	+11.8%	-32,6 k €	+34.1%	-49,4 k €	+40.8%	-83,4 k €	+68.1%	-261,8 k €	-99.7%	-131,1 k €	-29.9%	-100,9 k €	-85.6%	-54,4 k €	+42.7%	-94,8 k €
Net result	28,1 M €	+3046%	893,9 k €	+103%	-28,7 M €	+60.3%	-72,3 M €	-253%	47,4 M €	+343%	-19,5 M €	+53.4%	-41,9 M €	-432%	12,6 M €	+493%	2,1 M €	-14.4%	2,5 M €	-7.3%	2,7 M €	-16.1%	3,2 M €	-89.9%	31,8 M €	+1486%	2 M €	-53.8%	4,3 M €	-64.1%	12,1 M €	+92.0%	6,3 M €	+131%	-20 M €	-12073%	167,3 k €
Balance sheet
Equity	79,8 M €	+54.4%	51,7 M €	-2.3%	52,9 M €	-35.2%	81,6 M €	-47.0%	153,9 M €	+44.4%	106,6 M €	-15.5%	126,1 M €	-24.9%	168 M €	+8.1%	155,4 M €	-1.2%	157,2 M €	-12.2%	179,1 M €	+1.5%	176,4 M €	+1.8%	173,2 M €	+22.5%	141,5 M €	+84.0%	76,9 M €	+6.0%	72,5 M €	+20.0%	60,5 M €	+11.6%	54,2 M €	-27.0%	74,2 M €
Total assets	79,8 M €	+54.4%	51,7 M €	-2.3%	52,9 M €	-35.2%	81,6 M €	-47.0%	154 M €	+44.3%	106,7 M €	-15.4%	126,1 M €	-25.0%	168,1 M €	+8.2%	155,4 M €	-1.2%	157,2 M €	-12.3%	179,2 M €	+1.4%	176,8 M €	+1.8%	173,6 M €	+22.5%	141,8 M €	+83.1%	77,4 M €	+6.4%	72,7 M €	+20.0%	60,6 M €	+11.6%	54,3 M €	-26.8%	74,2 M €
Cash	72,5 k €	-77.8%	325,8 k €	+2.9%	316,6 k €	-57.5%	745,5 k €	-26.1%	1 M €	-17.4%	1,2 M €	-57.3%	2,9 M €	+379%	596,7 k €	-46.2%	1,1 M €	+175%	403,2 k €	-68.1%	1,3 M €	+133%	542,7 k €	-77.9%	2,5 M €	+138%	1 M €	-32.6%	1,5 M €	-37.5%	2,4 M €	+31.8%	1,9 M €	+116%	860,1 k €	+574%	127,6 k €
Debts	–		–		273,9 €	-98.2%	15,5 k €	+5.9%	14,6 k €	-80.5%	75,1 k €	+388%	15,4 k €	-89.6%	147,4 k €		–		–		297,1 €	-99.9%	208 k €	-0.3%	208,7 k €	+4.3%	200,2 k €	-3.7%	208 k €	+7480%	2,7 k €	-45.2%	5 k €	+7.6%	4,7 k €	+1269%	339,9 €

Estimate

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 7 ended

Active mandates

CSC Global Solutions (BELGIUM)

Administrateur · since 07 décembre 2006 · 0435.177.929

Represented by Christophe Tans

Active

Bernard-André Deconinck

Administrateur · since 27 novembre 2006

Active

Ended mandates

CSC Global Solutions (BELGIUM)

Manager · since 07 décembre 2006 · 0435.177.929

Represented by Herman Coppens

Ended

CSC Global Solutions (BELGIUM)

Manager · since 07 décembre 2006 · 0435.177.929

Represented by Pierre Verhaegen

Ended

CSC Global Solutions (BELGIUM)

Administrateur · since 07 décembre 2006 · 0435.177.929

Represented by Christophe Tans

Ended

CSC Global Solutions (BELGIUM)

Director · since 07 décembre 2006 · 0435.177.929

Represented by Christophe Tans

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Full model	Full model	Full model	Full 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	02/07/2026	07/08/2025	26/06/2024	17/07/2023	18/08/2022	16/08/2021
General meeting	23/06/2026	20/06/2025	17/06/2024	27/06/2023	17/08/2022	26/07/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	23/06/2026	02/07/2026	French	PDF
Abridged model	31/12/2024	20/06/2025	07/08/2025	French	PDF
Full model	31/12/2023	17/06/2024	26/06/2024	French	PDF
Full model	31/12/2022	27/06/2023	17/07/2023	French	PDF
Full model	31/12/2021	17/08/2022	18/08/2022	French	PDF
Full model	31/12/2020	26/07/2021	16/08/2021	French	PDF
Abridged model	31/12/2019	19/05/2020	03/06/2020	French	PDF
Abridged model	31/12/2018	10/07/2019	11/07/2019	French	PDF
Abridged model	31/12/2017	22/05/2018	17/07/2018	French	PDF
Abridged model	31/12/2016	12/05/2017	12/07/2017	French	PDF
Abridged model	31/12/2015	28/04/2016	29/04/2016	French	PDF
Abridged model	31/12/2014	27/05/2015	08/06/2015	French	PDF
Abridged model	31/12/2013	06/06/2014	12/06/2014	French	PDF
Abridged model	31/12/2012	04/06/2013	17/06/2013	French	PDF
Abridged model	31/12/2011	01/03/2012	09/03/2012	French	PDF
Abridged model	31/12/2010	16/05/2011	24/05/2011	French	PDF
Abridged model	31/12/2009	20/05/2010	27/05/2010	French	PDF
Abridged model	31/12/2008	26/06/2009	12/08/2009	French	PDF
Abridged model	31/12/2007	31/07/2008	12/08/2008	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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 · 2 active · 7 ended

Active mandates

CSC Global Solutions (BELGIUM)

Administrateur · since 07 décembre 2006 · 0435.177.929

Represented by Christophe Tans

Active

Bernard-André Deconinck

Administrateur · since 27 novembre 2006

Active

Ended mandates

CSC Global Solutions (BELGIUM)

Manager · since 07 décembre 2006 · 0435.177.929

Represented by Herman Coppens

Ended

CSC Global Solutions (BELGIUM)

Manager · since 07 décembre 2006 · 0435.177.929

Represented by Pierre Verhaegen

Ended

CSC Global Solutions (BELGIUM)

Administrateur · since 07 décembre 2006 · 0435.177.929

Represented by Christophe Tans

Ended

CSC Global Solutions (BELGIUM)

Director · since 07 décembre 2006 · 0435.177.929

Represented by Christophe Tans

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Capital / shares05/09/2024
CAPITAL, ACTIONS
PDF
Other06/09/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE
PDF
Registered office04/03/2020
SIEGE SOCIAL
PDF
Capital / shares29/11/2017
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Capital / shares20/06/2016
CAPITAL, ACTIONS
PDF
Capital / shares13/05/2016
CAPITAL, ACTIONS
PDF
Mandates29/01/2015
DEMISSIONS, NOMINATIONS
PDF
Capital / shares16/04/2012
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
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 202528,1 M €↑
2024
Annual accounts 2024893,9 k €↑
02/09/2024
reduction_capital
2023
Annual accounts 2023-28,7 M €↑
2022
Annual accounts 2022-72,3 M €↓
2021
Annual accounts 202147,4 M €↑
2020
Annual accounts 2020-19,5 M €↑
2019
Annual accounts 2019-41,9 M €↓
2018
Annual accounts 201812,6 M €↑
2017
Annual accounts 20172,1 M €↓
2016
Annual accounts 20162,5 M €↓
2015
Annual accounts 20152,7 M €↓
2014
Annual accounts 20143,2 M €↓
2013
Annual accounts 201331,8 M €↑
2012
Annual accounts 20122 M €↓
2011
Annual accounts 20114,3 M €↓
2010
Annual accounts 201012,1 M €↑
2009
Annual accounts 20096,3 M €↑
2008
Annual accounts 2008-20 M €↓
2007
Annual accounts 2007167,3 k €
28/11/2006
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

HERITAGE FUND

Overview

What does HERITAGE FUND do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

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