G. HULPIAU
ActiveG. HULPIAU has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €519k and a net result of €37k. Equity is growing by ~6.7% per year across the filed fiscal years. Its solvency ranks better than 95% of 18237 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
85
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability77▲+3
Solvency100▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity ample (current ratio 14.68 against 3.35 in 2024; short-term debt: 5.2% and cash: 18.8% of total assets), and 9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
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
91%
Return on assets
6.5%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
59 d early
2023
58 d early
2022
56 d early
2021
54 d early
2020
51 d early
2019
59 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€519k▲ 7.7%
2024 · €482k
2018: €322k
2019: €351k
2020: €357k
2021: €406k
2022: €439k
2023: €453k
2024: €482k
2018 → 2025
Total assets
€571k▼ 15.1%
2024 · €672k
2018: €895k
2019: €884k
2020: €846k
2021: €863k
2022: €715k
2023: €685k
2024: €672k
2018 → 2025
Net result
€37k▲ 25.1%
2024 · €30k
2018: €17k
2019: €30k
2020: €6k
2021: €49k
2022: €33k
2023: €13k
2024: €30k
2018 → 2025
Working capital
€405k▲ 15.9%
2024 · €349k
2018: €229k
2019: €257k
2020: €221k
2021: €276k
2022: €313k
2023: €328k
2024: €349k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€406k-€439k▲ 8.1%€453k▲ 3.0%€482k▲ 6.5%€519k▲ 7.7%
Operating result€83k-€58k▼ 29.5%€33k▼ 44.3%€54k▲ 67.2%€59k▲ 8.1%
Net result€49k-€33k▼ 33.1%€13k▼ 59.4%€30k▲ 121%€37k▲ 25.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 8% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €571k
Fixed assets
€137k▼ 21.8%
Current assets
€434k▼ 12.7%
Equity and liabilities €571k
Equity
€519k▲ 7.7%
Debt
€51k▼ 73.0%
The debt ratio falls from 28.2% to 9.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€97k▼
2024 · €97k
Cash flow
€75k▲
2024 · €73k
Solvency
91.0%▲
2024 · 71.8%
Current ratio
14.68▲
2024 · 3.35
Quick ratio
3.71▲
2024 · 1.28
Debt / equity
0.10▼
2024 · 0.39
ROE
7.1%▲
2024 · 6.1%
ROA
6.5%▲
2024 · 4.4%
Interest coverage
12.79▲
2024 · 7.34
Debt
€51k▼
2024 · €190k
Debt ≤ 1 year
€30k▼
2024 · €149k
Debt > 1 year
€18k▼
2024 · €41k
Income taxes
€15k▲
2024 · €13k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€672k€571k▼
Fixed assets21/28€175k€137k▼
Tangible fixed assets22/27€175k€137k▼
Land and buildings22€170k€136k▼
Plant, machinery and equipment23€836€390▼
Furniture and vehicles24€4k€0▼
Current assets29/58€498k€434k▼
Stocks and contracts in progress3€308k€325k▲
Stocks30/36€308k€325k▲
Amounts receivable within one year40/41€5k€2k▼
Other amounts receivable41€5k€2k▼
Cash at bank and in hand54/58€184k€107k▼
Equity and liabilities
Total equity and liabilities10/49€672k€571k▼
Equity10/15€482k€519k▲
Contributions10/11€19k€19k=
Reserves13€464k€501k▲
Distributable reserves133€464k€501k▲
Amounts payable17/49€190k€51k▼
Amounts payable after more than one year17€41k€18k▼
Financial debts170/4€41k€18k▼
Amounts payable within one year42/48€149k€30k▼
Current portion of amounts payable after more than one year42€50k€24k▼
Trade debts44€1k€213▼
Suppliers440/4€1k€213▼
Taxes, remuneration and social security45€4k€3k▼
Taxes450/3€4k€3k▼
Other amounts payable47/48€94k€2k▼
Accrued charges and deferred income492/3-€4k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€43k€38k▼
Other operating charges640/8€11k€11k▲
Gross operating margin9900€109k€108k▼
Operating profit (loss)9901€54k€59k▲
Financial income75/76B€1k€942▼
Recurring financial income75€1k€942▼
Financial charges65/66B€13k€8k▼
Recurring financial charges65€13k€8k▼
Profit (loss) for the period before taxes9903€42k€52k▲
Income taxes67/77€13k€15k▲
Profit (loss) for the period9904€30k€37k▲
Profit (loss) for the period to be appropriated9905€30k€37k▲
Appropriation of the result
Profit (loss) to be appropriated9906€30k€37k▲
Transfer to equity691/2€30k€37k▲
To other reserves6921€30k€37k▲
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Liquidity quadruplescurrent ratio 14.68
Current ratio from 3.35 to 14.68; short-term debt falls from €149k to €30k.
31-12
Financial
Equity above €500kEq €519k ▲7.7%
8 profitable years in a row build equity to €519k.
02-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
03-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
05-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
07-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €49k ▲744%
Operating result €83k, net result €49k, both a record.
10-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €6k ▼80.3%
Net result drops to €6k, the lowest in the series; recovery starts the following year.
02-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
03-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
08-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
08-06
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.
Directors · office · real estate
Directors
2 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, Oostende · 1 establishment unit since 1989
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
James Ensorgalerij 40a8400 OostendeGround area
1,633 m²
Building footprint
723 m²
Volume, LiDAR
12,200 m³
Parcel 35013A0173/00K000, Flanders · tallest building 20.9 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
G. HULPIAU
since 19892.042.735.272
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35013A0173/00K000 | Flanders | 1,633 m² | 1 · 723 m² | 20.9 m · 6 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 2,000 EUR awarded · 2,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
Hinderpremie bij openbare werken
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Of 2,017 companies in sector 47770 we hold annual accounts for 898. 617 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded21-03-1989
Fiscal year end31-12
Activities, NACEBEL
47770Retail sale of watches and jewellery
52484
Sources
Crossroads Bank for EnterprisesNational Bank · 37 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.