ACTIVE

HIPPODROME PROJECTS

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Financial year 2025 · closed on 31/12/2025

Net result

-125,5 k €

+4.8% YoY

Gross margin

-109,2 k €

Equity

2,8 M €

-4.2% YoY

What does HIPPODROME PROJECTS do?

HIPPODROME PROJECTS is a Public limited company incorporated in 2007. Its main activity is: Development of building projects. Its registered office is in Zonhoven.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0887.068.364

Incorporation

07/02/2007

Legal form

Public limited company

Registered office

Viartenstraat 14
3520 Zonhoven · FlandreSee on map

Contributed capital

2 730 622,61 €

Latest accounts

31/12/2025

Activities (NACE)

41101Development of building projects· main 68121Buying and selling of own real estate 70111Activities of head offices 68100Buying and selling of own real estate 68110Buying and selling of own real estate 70120Activities of head offices

Signals

Solid equityLow riskGood liquidity

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	-109,2 k €		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–
EBITDA	-114,2 k €	+23.1%	-148,6 k €	+16.8%	-178,6 k €	-101%	-88,8 k €	-119%	476,9 k €	-68.2%	1,5 M €	+1858%	-85,4 k €	-189%	-29,5 k €	-102%	1,4 M €	+949%	-161,8 k €	-35.2%	-119,6 k €	+1.9%	-122 k €	+25.9%	-164,7 k €	-65.3%	-99,6 k €	+6.5%	-106,6 k €	+1.0%	-107,7 k €	+11.1%	-121,2 k €
Operating result	-114,2 k €	+23.1%	-148,6 k €	-213%	131 k €	+114%	61,2 k €	-75.5%	249,6 k €	-87.3%	2 M €	+34201%	5,7 k €	+103%	-209,5 k €	-115%	1,4 M €	+949%	-161,8 k €	-35.2%	-119,6 k €	+1.9%	-122 k €	+26.2%	-165,2 k €	-62.8%	-101,5 k €	+6.4%	-108,5 k €	+1.0%	-109,6 k €	+11.9%	-124,4 k €
Net result	-125,5 k €	+4.8%	-131,8 k €	-211%	118,3 k €	+166%	44,5 k €	-57.0%	103,5 k €	-92.9%	1,5 M €	+7865%	-18,7 k €	+91.4%	-216,6 k €	-116%	1,4 M €	+938%	-164,3 k €	-36.5%	-120,3 k €	+2.2%	-123,1 k €	+26.0%	-166,3 k €	-63.0%	-102 k €	+1.5%	-103,6 k €	+8.1%	-112,7 k €	+8.7%	-123,4 k €
Balance sheet
Equity	2,8 M €	-4.2%	3 M €	-55.3%	6,6 M €	+1.8%	6,5 M €	+0.7%	6,5 M €	+1.6%	6,4 M €	+29.7%	4,9 M €	-0.4%	4,9 M €	+9.0%	4,5 M €	+43.9%	3,1 M €	-5.0%	3,3 M €	-3.5%	3,4 M €	-3.5%	3,5 M €	-4.5%	3,7 M €	-2.7%	3,8 M €	-2.6%	3,9 M €	-2.8%	4 M €
Total assets	4,2 M €	+6.4%	4 M €	-39.9%	6,6 M €	+0.6%	6,6 M €	-7.2%	7,1 M €	-40.2%	11,9 M €	+15.2%	10,3 M €	+2.5%	10,1 M €	-1.4%	10,2 M €	-19.6%	12,7 M €	+8.6%	11,7 M €	+2.7%	11,4 M €	+1.4%	11,3 M €	+12.7%	10 M €	+0.5%	9,9 M €	+3.9%	9,6 M €	+7.5%	8,9 M €
Cash	2,8 M €	+70.4%	1,6 M €	+10.0%	1,5 M €	+211%	473,8 k €	+590%	68,7 k €	-98.2%	3,9 M €	+4975%	76,7 k €	-71.7%	271,2 k €	+143%	111,6 k €	+52.6%	73,1 k €	-1.3%	74,1 k €	+280%	19,5 k €	-85.8%	137,7 k €	+202%	45,7 k €	-77.0%	198,3 k €	-50.4%	399,6 k €	+1016%	35,8 k €
Debts	1,4 M €	+37.1%	1 M €	+3977%	25,3 k €	-75.9%	104,7 k €	-84.1%	660 k €	-82.6%	3,8 M €	+60.0%	2,4 M €	+1.7%	2,3 M €	-59.2%	5,7 M €	-39.4%	9,5 M €	+14.0%	8,3 M €	+5.1%	7,9 M €	+3.3%	7,6 M €	+22.7%	6,2 M €	+1.9%	6,1 M €	+8.3%	5,6 M €	+16.4%	4,8 M €

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 19 ended

Active mandates

Thierry Tack

Director · since 31 mai 2021 · until 31 mai 2027

Active

FREDERIC MASIL

Director · since 17 décembre 2018 · until 31 mai 2027 · 0871.887.369

Represented by Fréderic Masil

Active

ADDED VALUE SERVICES

Director · since 07 mars 2017 · until 31 mai 2027 · 0476.337.405

Represented by Louis KEMPS

Active

PAUL KNIPPENBERG

Director · since 22 octobre 2015 · until 31 mai 2027

Active

Ended mandates

FREDERIC MASIL

Director · since 17 décembre 2018 · until 21 octobre 2021 · 0871.887.369

Represented by Fréderic Masil

Ended

FREDERIC MASIL

Director · since 17 décembre 2018 · until 21 octobre 2021 · 0871.887.369

Represented by Fréderic Masil

Ended

Solidum Terra NV

Director · since 25 avril 2018 · until 21 octobre 2021 · 0876.588.010

Represented by Paul Knippenberg

Ended

ADDED VALUE SERVICES

Director · since 07 mars 2017 · until 21 octobre 2021 · 0476.337.405

Represented by Louis KEMPS

Ended

At this address

Other companies at this address

Company	CBE no.
SITE NONNENBOS● Active	1012.223.605

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Full 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	28/05/2026	27/06/2025	17/06/2024	07/06/2023	18/07/2022	30/06/2021
General meeting	21/05/2026	10/06/2025	05/06/2024	18/05/2023	30/06/2022	31/05/2021
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

18 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	21/05/2026	28/05/2026	Dutch	PDF
Full model	31/12/2024	10/06/2025	27/06/2025	Dutch	PDF
Full model	31/12/2023	05/06/2024	17/06/2024	Dutch	PDF
Full model	31/12/2022	18/05/2023	07/06/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	18/07/2022	Dutch	PDF
Full model	31/12/2020	31/05/2021	30/06/2021	Dutch	PDF
Full model	31/12/2019	19/06/2020	21/07/2020	Dutch	PDF
Full model	31/12/2018	27/06/2019	07/07/2019	Dutch	PDF
Full model	30/06/2018	28/12/2018	06/01/2019	Dutch	PDF
Full model	31/12/2016	18/05/2017	22/06/2017	Dutch	PDF
Full model	31/12/2015	19/05/2016	17/06/2016	Dutch	PDF
Full model	31/12/2014	29/06/2015	30/06/2015	Dutch	PDF
Full model	31/12/2013	15/05/2014	11/06/2014	Dutch	PDF
Full model	31/12/2012	16/05/2013	12/07/2013	Dutch	PDF
Full model	31/12/2011	18/05/2012	20/06/2012	Dutch	PDF
Full model	31/12/2010	19/05/2011	17/06/2011	Dutch	PDF
Full model	31/12/2009	20/05/2010	18/06/2010	Dutch	PDF
Full model	31/12/2008	07/12/2009	21/12/2009	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 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 · 4 active · 19 ended

Active mandates

Thierry Tack

Director · since 31 mai 2021 · until 31 mai 2027

Active

FREDERIC MASIL

Director · since 17 décembre 2018 · until 31 mai 2027 · 0871.887.369

Represented by Fréderic Masil

Active

ADDED VALUE SERVICES

Director · since 07 mars 2017 · until 31 mai 2027 · 0476.337.405

Represented by Louis KEMPS

Active

PAUL KNIPPENBERG

Director · since 22 octobre 2015 · until 31 mai 2027

Active

Ended mandates

FREDERIC MASIL

Director · since 17 décembre 2018 · until 21 octobre 2021 · 0871.887.369

Represented by Fréderic Masil

Ended

FREDERIC MASIL

Director · since 17 décembre 2018 · until 21 octobre 2021 · 0871.887.369

Represented by Fréderic Masil

Ended

Solidum Terra NV

Director · since 25 avril 2018 · until 21 octobre 2021 · 0876.588.010

Represented by Paul Knippenberg

Ended

ADDED VALUE SERVICES

Director · since 07 mars 2017 · until 21 octobre 2021 · 0476.337.405

Represented by Louis KEMPS

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Restructuring30/08/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring24/04/2024
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates30/01/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/10/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/07/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/02/2020
ONTSLAGEN - BENOEMINGEN
PDF
Other26/02/2019
ALGEMENE VERGADERING - BOEKJAAR
PDF
Mandates09/01/2019
ONTSLAGEN - BENOEMINGEN
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 2025-125,5 k €↑
2024
Annual accounts 2024-131,8 k €↓
2023
Annual accounts 2023118,3 k €↑
2022
Annual accounts 202244,5 k €↓
2021
Annual accounts 2021103,5 k €↓
2020
Annual accounts 20201,5 M €↑
2019
Annual accounts 2019-18,7 k €↑
2018
Annual accounts 2018-216,6 k €↓
2016
Annual accounts 20161,4 M €↑
2015
Annual accounts 2015-164,3 k €↓
2014
Annual accounts 2014-120,3 k €↑
2013
Annual accounts 2013-123,1 k €↑
2012
Annual accounts 2012-166,3 k €↓
2011
Annual accounts 2011-102 k €↑
2010
Annual accounts 2010-103,6 k €↑
2009
Annual accounts 2009-112,7 k €↑
2008
Annual accounts 2008-123,4 k €
07/02/2007
IncorporationPublic 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

HIPPODROME PROJECTS

Overview

What does HIPPODROME PROJECTS do?

Trend over 17 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