ACTIVE

HVSE Services

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Financial year 2025 · closed on 30/06/2025
Net result
116,2 k €
-43.3% YoY
Gross margin
185,7 k €
-38.5% YoY
Equity
380,9 k €
+43.9% YoY

What does HVSE Services do?

HVSE Services is a Private limited company incorporated in 2008. Its main activity is: Construction of buildings. Its registered office is in Genk.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0899.411.615
Incorporation
22/07/2008
Legal form
Private limited company
Registered office
Snoekweyerstraat 2 box 2
3600 Genk · FlandreSee on map
Contributed capital
20 000,00 €
Latest accounts
30/06/2025
Activities (NACE)
41001Construction of buildings· main41201Construction of residential and non-residential buildings43211Electrical installation43211Electrical installation43221Plumbing, heat and air-conditioning installation43221Plumbing, heat and air-conditioning installation+2
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 17 financial years

20252024202320222021202020192018201720162015201420132012201120102009
Income statement
Gross margin185,7 k €302,2 k €-155,3 k €326,6 k €-10,9 k €35,8 k €199,7 k €198,2 k €169,9 k €13,2 k €523,0 €28,4 k €20,7 k €25,3 k €-13,5 k €1,9 k €-4,5 k €
EBITDA159,8 k €35,7 k €-162,4 k €290,1 k €-22,1 k €32,5 k €193,9 k €190,7 k €163,0 k €12,6 k €-295,0 €27,4 k €19,9 k €24,8 k €-14,1 k €1,1 k €-4,5 k €
Operating result184,3 k €257,5 k €-168,2 k €-14,1 k €-38,1 k €9,2 k €171,5 k €172,4 k €147,3 k €11,4 k €-2,9 k €25,0 k €18,3 k €23,7 k €-15,1 k €1,0 k €-4,6 k €
Net result116,2 k €204,9 k €-178,2 k €-22,1 k €-46,7 k €731,0 €105,5 k €94,5 k €83,9 k €9,0 k €-193,0 €19,4 k €13,9 k €22,0 k €-11,4 k €385,0 €-4,6 k €
Balance sheet
Equity380,9 k €264,7 k €106,0 k €284,2 k €306,4 k €353,0 k €352,3 k €246,8 k €152,3 k €68,4 k €59,4 k €59,6 k €40,2 k €26,4 k €4,4 k €15,7 k €15,4 k €
Total assets710,5 k €670,2 k €293,6 k €396,5 k €419,4 k €467,4 k €435,3 k €547,9 k €362,0 k €72,3 k €69,9 k €74,6 k €45,7 k €29,9 k €9,7 k €26,0 k €19,5 k €
Cash152,6 k €281,4 k €42,9 k €4,7 k €2,1 k €19,4 k €149,5 k €106,2 k €47,3 k €12,4 k €1,7 k €26,2 k €18,7 k €4,2 k €3,3 k €20,9 k €15,0 k €
Debts329,5 k €405,4 k €187,6 k €112,3 k €111,7 k €113,3 k €83,0 k €301,1 k €209,8 k €3,9 k €10,5 k €15,0 k €5,4 k €3,5 k €5,3 k €10,2 k €4,2 k €
Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€
See the valuation
Governance

Board of directors

Seen on filing of 30/06/2025 · 4 active · 12 ended

Active mandates

Ramazan Badurlu

Director

Active
Recep Karabacak

Director

Active
Ulvi Badurlu

Director

Active
Yeliz Akkiran

Director

Active

Ended mandates

Ulvi Badurlu

Manager · since 20 juin 2016

Ended
Bob Joustra

Mandate

Ended
Bob Joustra

Manager

Ended
Laurens Mirani

Mandate

Ended
At this address

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Groep Ayba● Bankrupt
0658.722.941
H&A TECH● Active
0779.640.963
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1010.842.344
Annual accounts

Full financial information

202520242023202220212020
Type of accountMicro modelMicro modelMicro modelMicro modelMicro modelAbridged model
Start of the financial year01/07/202401/07/202301/07/202201/07/202101/07/202001/07/2019
Closing of the financial year30/06/202530/06/202430/06/202330/06/202230/06/202130/06/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date19/12/202523/01/202511/12/202323/01/202328/01/202206/01/2021
General meeting12/12/202513/12/202408/12/202309/12/202210/12/202111/12/2020
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

17 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Micro model30/06/202512/12/202519/12/2025DutchPDF
Micro model30/06/202413/12/202423/01/2025DutchPDF
Micro model30/06/202308/12/202311/12/2023DutchPDF
Micro model30/06/202209/12/202223/01/2023DutchPDF
Micro model30/06/202110/12/202128/01/2022DutchPDF
Abridged model30/06/202011/12/202006/01/2021DutchPDF
Micro model30/06/201913/12/201931/12/2019DutchPDF
Abridged model30/06/201813/12/201830/01/2019DutchPDF
Abridged model30/06/201708/12/201726/01/2018DutchPDF
Abridged model30/06/201609/12/201627/01/2017DutchPDF
Abridged model30/06/201511/12/201528/12/2015DutchPDF
Abridged model30/06/201412/12/201429/12/2014DutchPDF
Abridged model30/06/201313/12/201329/01/2014DutchPDF
Abridged model30/06/201214/12/201230/04/2013DutchPDF
Abridged model30/06/201109/12/201130/01/2012DutchPDF
Abridged model30/06/201010/12/201031/01/2011DutchPDF
Abridged model30/06/200908/06/201010/06/2010DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 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 30/06/2025 · 4 active · 12 ended

Active mandates

Ramazan Badurlu

Director

Active
Recep Karabacak

Director

Active
Ulvi Badurlu

Director

Active
Yeliz Akkiran

Director

Active

Ended mandates

Ulvi Badurlu

Manager · since 20 juin 2016

Ended
Bob Joustra

Mandate

Ended
Bob Joustra

Manager

Ended
Laurens Mirani

Mandate

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates28/10/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates15/01/2024
    WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office01/04/2020
    MAATSCHAPPELIJKE ZETEL - WIJZIGING RECHTSVORM
    PDF
  • Registered office07/06/2018
    BENAMING - MAATSCHAPPELIJKE ZETEL - DOEL
    PDF
  • Mandates19/07/2016
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates31/10/2011
    BENAMING - MAATSCHAPPELIJKE ZETEL - DOEL - ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates04/02/2010
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office16/12/2009
    MAATSCHAPPELIJKE ZETEL
    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

Timeline

  1. 2025
    Annual accounts 2025116,2 k €↓
  2. 2024
    Annual accounts 2024204,9 k €↑
  3. 2023
    Annual accounts 2023-178,2 k €↓
  4. 2022
    Annual accounts 2022-22,1 k €↑
  5. 2021
    Annual accounts 2021-46,7 k €↓
  6. 2020
    Annual accounts 2020731,0 €↓
  7. 2019
    Annual accounts 2019105,5 k €↑
  8. 2018
    Annual accounts 201894,5 k €↑
  9. 2017
    Annual accounts 201783,9 k €↑
  10. 2016
    Annual accounts 20169,0 k €↑
  11. 2015
    Annual accounts 2015-193,0 €↓
  12. 2014
    Annual accounts 201419,4 k €↑
  13. 2013
    Annual accounts 201313,9 k €↓
  14. 2012
    Annual accounts 201222,0 k €↑
  15. 2011
    Annual accounts 2011-11,4 k €↓
  16. 2010
    Annual accounts 2010385,0 €↑
  17. 2009
    Annual accounts 2009-4,6 k €
  18. 22/07/2008
    IncorporationPrivate limited company