FH Management
ActiveSummary
FH Management has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €53,730 and a net result of €3,765. Equity is shrinking by ~26% per year across the filed fiscal years. Its solvency ranks better than 32% of 31958 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72=
Solvency57▼-8
Growth58=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity tight (current ratio 1.17 against 1.01 in 2024; short-term debt: 67.6% and cash: 13.5% of total assets), and 67.6% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
32.4%
Return on assets
2.3%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €53,730
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
24 d late
2024
17 d early
2023
6 d early
2022
19 d early
2021
67 d early
2020
89 d early
2019
38 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 30 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 14 July (4 of the last 5 filed years within 41 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€53,730▲ 7.5%
2024 · €49,965
Total assets
€165,842▲ 31.2%
2024 · €126,424
Net result
€3,765▲ 21.6%
2024 · €3,096
Working capital
€19,396▲ 1,981%
2024 · €932
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€1,419-€14,966▼ 955%€4,983€2,958▼ 40.6%€4,810▲ 62.6%
Net result-€829below the sector's middle half-€15,956below the sector's middle half▼ 1,824%€2,044below the sector's middle half€3,096within the sector's middle half▲ 51.5%€3,765within the sector's middle half▲ 21.6%
Equity€127,564within the sector's middle half▼ 49.4%€44,826within the sector's middle half▼ 64.9%€46,870within the sector's middle half▲ 4.6%€49,965within the sector's middle half▲ 6.6%€53,730within the sector's middle half▲ 7.5%
Total assets€174,872within the sector's middle half▼ 47.9%€86,475within the sector's middle half▼ 50.5%€132,686within the sector's middle half▲ 53.4%€126,424within the sector's middle half▼ 4.7%€165,842within the sector's middle half▲ 31.2%
Debt€47,307▼ 43.2%€41,649▼ 12.0%€85,816▲ 106%€76,459▼ 10.9%€112,112▲ 46.6%
Working capital€116,417within the sector's middle half▼ 51.6%€34,149within the sector's middle half▼ 70.7%-€15,543below the sector's middle half€932below the sector's middle half€19,396within the sector's middle half▲ 1,981%
Solvency72.9%within the sector's middle half▼ 2.2pp51.8%within the sector's middle half▼ 21.1pp35.3%within the sector's middle half▼ 16.5pp39.5%within the sector's middle half▲ 4.2pp32.4%within the sector's middle half▼ 7.1pp
Current ratio3.46within the sector's middle half▼ 0.421.82within the sector's middle half▼ 1.640.81below the sector's middle half▼ 1.011.01below the sector's middle half▲ 0.201.17within the sector's middle half▲ 0.16
Return on assets (ROA)-0.5%below the sector's middle half▼ 3.1pp-18.5%below the sector's middle half▼ 18.0pp1.5%within the sector's middle half▲ 20.0pp2.4%within the sector's middle half▲ 0.9pp2.3%within the sector's middle half▼ 0.2pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 63% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €165,842
Fixed assets
€34,334 ▼ 30.0%
Current assets
€131,507 ▲ 69.9%
Equity and liabilities €165,842
Equity
€53,730 ▲ 7.5%
Debt
€112,112 ▲ 46.6%
Debt's share of the balance-sheet total rises from 60.5% to 67.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€19,508▲
2024 · €18,863
Cash flow
€18,463▼
2024 · €19,001
Debt to equity
2.09▲
2024 · 1.53
ROE
7.0%▲
2024 · 6.2%
Interest coverage
62.55▼
2024 · 67.05
Debt ≤ 1 year
€112,112▲
2024 · €76,459
Income taxes
€1,019▲
2024 · €146
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,905 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.8%
went bankrupt
4.0%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 10,905 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,583 | €4,332 | €9,573 | €15,905 | €14,699 | ▼ 7.6% |
| Other operating charges640/8 | €695 | €1,477 | €1,373 | €1,005 | €1,175 | ▲ 16.9% |
| Gross operating margin9900 | €2,859 | -€9,157 | €15,930 | €19,868 | €20,683 | ▲ 4.1% |
| Operating profit (loss)9901 | -€1,419 | -€14,966 | €4,983 | €2,958 | €4,810 | ▲ 62.6% |
| Financial income75/76B | €3,119 | €1,175 | €65 | €565 | €286 | ▼ 49.4% |
| Recurring financial income75 | €3,119 | €1,175 | €65 | €565 | €286 | ▼ 49.4% |
| Financial charges65/66B | €2,149 | €1,934 | €2,806 | €281 | €312 | ▲ 10.9% |
| Recurring financial charges65 | €2,149 | €1,934 | €2,806 | €281 | €312 | ▲ 10.9% |
| Profit (loss) for the period before taxes9903 | -€449 | -€15,725 | €2,242 | €3,241 | €4,784 | ▲ 47.6% |
| Income taxes67/77 | €380 | €231 | €199 | €146 | €1,019 | ▲ 599% |
| Profit (loss) for the period9904 | -€829 | -€15,956 | €2,044 | €3,096 | €3,765 | ▲ 21.6% |
| Profit (loss) for the period to be appropriated9905 | -€829 | -€15,956 | €2,044 | €3,096 | €3,765 | ▲ 21.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €174,872 | €86,475 | €132,686 | €126,424 | €165,842 | ▲ 31.2% |
| Fixed assets21/28 | €11,148 | €10,677 | €64,938 | €49,033 | €34,334 | ▼ 30.0% |
| Tangible fixed assets22/27 | €11,148 | €10,677 | €64,938 | €49,033 | €34,334 | ▼ 30.0% |
| Land and buildings22 | €8,598 | €8,057 | €4,522 | €2,035 | €754 | ▼ 62.9% |
| Furniture and vehicles24 | €2,549 | €2,620 | €60,416 | €46,998 | €33,580 | ▼ 28.6% |
| Current assets29/58 | €163,724 | €75,798 | €67,747 | €77,391 | €131,507 | ▲ 69.9% |
| Amounts receivable after more than one year29 | €117,371 | - | - | - | - | - |
| Other amounts receivable291 | €117,371 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €768 | - | €13,157 | €22,811 | €106,999 | ▲ 369% |
| Trade receivables40 | - | - | €7,260 | €19,360 | €102,055 | ▲ 427% |
| Other amounts receivable41 | €768 | - | €5,897 | €3,451 | €4,944 | ▲ 43.2% |
| Cash at bank and in hand54/58 | €44,495 | €74,681 | €52,807 | €52,572 | €22,368 | ▼ 57.5% |
| Deferred charges and accrued income490/1 | €1,089 | €1,118 | €1,783 | €2,008 | €2,140 | ▲ 6.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €174,872 | €86,475 | €132,686 | €126,424 | €165,842 | ▲ 31.2% |
| Equity10/15 | €127,564 | €44,826 | €46,870 | €49,965 | €53,730 | ▲ 7.5% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €118,962 | €52,180 | €52,180 | €52,180 | €52,180 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | €117,102 | €50,320 | €52,180 | €52,180 | €52,180 | = |
| Profit (loss) carried forward14 | -€3,797 | -€19,754 | -€17,710 | -€14,615 | -€10,850 | ▲ 25.8% |
| Amounts payable17/49 | €47,307 | €41,649 | €85,816 | €76,459 | €112,112 | ▲ 46.6% |
| Amounts payable within one year42/48 | €47,307 | €41,649 | €83,291 | €76,459 | €112,112 | ▲ 46.6% |
| Trade debts44 | €621 | €467 | €32,319 | €24,037 | €52,583 | ▲ 119% |
| Suppliers440/4 | €621 | €467 | €32,319 | €24,037 | €52,583 | ▲ 119% |
| Taxes, remuneration and social security45 | €1,431 | €1,660 | €231 | €758 | €933 | ▲ 23.2% |
| Taxes450/3 | €1,431 | €1,660 | €231 | €758 | €933 | ▲ 23.2% |
| Other amounts payable47/48 | €45,255 | €39,522 | €50,741 | €51,665 | €58,595 | ▲ 13.4% |
| Accrued charges and deferred income492/3 | - | - | €2,525 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€829 | -€15,956 | €2,044 | €3,096 | €3,765 | ▲ 21.6% |
| + Depreciation and write-downs630 | €3,583 | €4,332 | €9,573 | €15,905 | €14,699 | ▼ 7.6% |
| Operating cash flow (approximation) | €2,754 | -€11,624 | €11,616 | €19,001 | €18,463 | ▼ 2.8% |
| Investment in fixed assets (approximation) | - | -€3,861 | -€63,834 | €0 | €0 | - |
| Change in cash | - | €30,185 | -€21,874 | -€235 | -€30,204 | ▼ 12,770% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 24 days late
2025
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €2,044
Net result €2,044 after 2 loss-making years.
12-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet -€15,956
Net result drops to -€15,956, the lowest in the series; recovery starts the following year.
25-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
03-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €8,915 ▲192%
Operating result €6,104, net result €8,915, both a record.
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €3,054
Net result €3,054 after one loss-making year.
07-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
14-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Geraardsbergen · 1 establishment unit since 2011
Ground area
1,396 m²
Building footprint
160 m²
Volume, LiDAR
597 m³
Parcel 41056B0920/00S002, Flanders · tallest building 5.7 m, ±1 floor. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
FH Management
since 20112.198.948.428
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41056B0920/00S002 | Flanders | 1,396 m² | 1 · 159 m² | 5.7 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 82,646 companies in sector 70200 we hold annual accounts for 52,627. 38,473 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded20-04-2011
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
64210Activities of holding companies
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0835683308
Also
9925:BE0835683308
Registered
20-06-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.