'H
ActiveFrom the official registers: KBO 32 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
'H has been active since 1992 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €297,949 and a net result of €2,023. Equity is growing by about 6.3% per year across the filed financial years. Its solvency ranks better than 43% of 2,477 sector peers (NACE 90, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Official details
KBO- Status
- Active since 14-07-1992 Normal situation
- Legal form
- Public limited company
- Registered office
- Braemtstraat 64-70, 1210 Sint-Joost-ten-Node
- Activity
- Performing arts by artistic ensembles NACE 90202and 2 others
- Establishment units
- 2.058.978.913 1210 Sint-Joost-ten-Node, since 29-09-1992
- 2.058.979.012 1210 Sint-Joost-ten-Node, since 29-09-1992
- Financial year end
- 30 June
- Peppol
- Reachable since 27-01-2026
Who decides
- IDE PatriciaDirector · since 28-12-2023
- KACENELENBOGEN JeanneDirector · since 28-12-2023
- KACENELENBOGEN LouDirector · since 28-12-2023
- KACENELENBOGEN MichelDirector · since 28-12-2023
- Holdings
- Shares in 1 company SEMEB
How it is doing
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €104,188
- ▼ 6.9%
- Turnover
- ≈ €260,000
- estimated
- Profit
- €2,023
- ▼ 88.4%
- Equity
- €297,949
- ▲ 0.7%
- Total assets
- €735,840
- ▼ 12.3%
Why 93lowers riskSize: total assets €735,840Sector: Arts creation and performing arts activities (NACE 90)Figures for financial year 2025 (filed 08-12-2025)Founded in 1992Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 90, micro): better than 45% on solvency, 52% on liquidity, 44% on profitability and 47% on growth.
The bankruptcy probability was computed on 31-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 7 accounts on average 20 days before the deadline; the sector median (NACE 90) for financial year 2024 is 4 days before the deadline, and 38% of those companies filed late.
Searched, nothing found (2)
Financials · financial year 2025, micro format
Annual accounts 2025
- Financial year ended
- 30-06-2025
- Filed on
- 08-12-2025
- Format
- micro format
- Reference
- 2025-00577388
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result falls in 2025; 2025 is 76% below 2024 and is the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 90, Arts creation and performing arts activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Peer companies
Historical observationOf the 14,766 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96.2% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
A further 0.1% stopped, but we cannot tell whether within those 24 months.
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 497,445 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 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 74.5% 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 14,766 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.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €3,560 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €115,838 | €58,353 | €709 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €137,862 | €95,367 | €98,184 | €98,128 | €94,262 | €64,484 | €60,517 | ▼ 6.2% |
| Other operating charges640/8 | - | - | - | €24,317 | €16,578 | €17,652 | €18,464 | ▲ 4.6% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €18,330 | - |
| Gross operating margin9900 | €309,666 | €431,407 | €216,985 | €248,525 | €183,940 | €111,885 | €104,188 | ▼ 6.9% |
| Operating profit (loss)9901 | €84,105 | €262,666 | €60,951 | €10,242 | €14,747 | €29,040 | €6,877 | ▼ 76.3% |
| Financial income75/76B | - | - | - | - | - | €21 | €35 | ▲ 64.3% |
| Recurring financial income75 | €39 | €28 | €28 | - | - | €21 | €35 | ▲ 64.3% |
| Financial charges65/66B | - | - | - | €6,340 | €4,357 | €4,424 | €3,858 | ▼ 12.8% |
| Recurring financial charges65 | €17,959 | €13,622 | €9,568 | €6,340 | €4,357 | €4,424 | €3,858 | ▼ 12.8% |
| Profit (loss) for the period before taxes9903 | €66,185 | €209,072 | €51,411 | €3,901 | €10,390 | €24,637 | €3,054 | ▼ 87.6% |
| Income taxes67/77 | €5 | €39 | €5,900 | €3,414 | €4,588 | €7,189 | €1,031 | ▼ 85.7% |
| Profit (loss) for the period9904 | €66,180 | €209,033 | €45,511 | €488 | €5,802 | €17,448 | €2,023 | ▼ 88.4% |
| Profit (loss) for the period to be appropriated9905 | €66,180 | €209,033 | €45,511 | €488 | €5,802 | €17,448 | €2,023 | ▼ 88.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.3m | €1.2m | €1.0m | €0.9m | €0.8m | €0.8m | €0.7m | ▼ 12.3% |
| Fixed assets21/28 | €1.1m | €1.0m | €1.0m | €0.9m | €0.8m | €0.7m | €0.6m | ▼ 11.8% |
| Intangible fixed assets21 | €0.1m | €0.09m | €0.06m | €0.03m | - | - | - | - |
| Tangible fixed assets22/27 | €0.9m | €0.9m | €0.9m | €0.8m | €0.7m | €0.7m | €0.6m | ▼ 8.7% |
| Land and buildings22 | - | - | - | €0.6m | €0.6m | €0.6m | €0.5m | ▼ 5.1% |
| Plant, machinery and equipment23 | - | - | - | €0.07m | €0.06m | €0.05m | €0.04m | ▼ 21.8% |
| Furniture and vehicles24 | - | - | - | €0.01m | - | - | - | - |
| Other tangible fixed assets26 | - | - | - | €0.1m | €0.08m | €0.06m | €0.04m | ▼ 32.3% |
| Assets under construction and advance payments27 | - | - | - | €0.009m | - | - | - | - |
| Financial fixed assets28 | €0.06m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | - | - |
| Current assets29/58 | €0.2m | €0.2m | €0.07m | €0.05m | €0.07m | €0.1m | €0.1m | ▼ 14.5% |
| Amounts receivable within one year40/41 | €0.1m | €0.08m | - | €0.006m | €0.01m | €0.02m | €0.06m | ▲ 155% |
| Trade receivables40 | - | - | - | €0.005m | €0.007m | €0.005m | €0.02m | ▲ 329% |
| Other amounts receivable41 | - | - | - | €0.001m | €0.007m | €0.02m | €0.04m | ▲ 102% |
| Cash at bank and in hand54/58 | €0.1m | €0.1m | €0.07m | €0.04m | €0.06m | €0.1m | €0.07m | ▼ 45.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €443 | €456 | €500 | ▲ 9.6% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.3m | €1.2m | €1.0m | €0.9m | €0.8m | €0.8m | €0.7m | ▼ 12.3% |
| Equity10/15 | €0.02m | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 0.7% |
| Contributions10/11 | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Capital10 | - | - | - | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Issued capital100 | - | - | - | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Reserves13 | €124 | €124 | €124 | €124 | €124 | €124 | €124 | = |
| Non-distributable reserves130/1 | - | - | - | €124 | €124 | €124 | €124 | = |
| Legal reserve130 | - | - | - | €124 | €124 | €124 | €124 | = |
| Profit (loss) carried forward14 | -€0.8m | -€0.6m | -€0.6m | -€0.6m | -€0.6m | -€0.6m | -€0.6m | ▲ 0.4% |
| Amounts payable17/49 | €1.3m | €1.0m | €0.7m | €0.6m | €0.5m | €0.5m | €0.4m | ▼ 19.4% |
| Amounts payable after more than one year17 | €0.7m | €0.7m | €0.5m | €0.5m | €0.5m | €0.5m | €0.4m | ▼ 18.8% |
| Financial debts170/4 | - | - | - | €0.05m | €0.04m | €0.03m | €0.02m | ▼ 29.2% |
| Other amounts payable178/9 | - | - | - | €0.5m | €0.4m | €0.4m | €0.4m | ▼ 18.1% |
| Amounts payable within one year42/48 | €0.6m | €0.3m | €0.2m | €0.1m | €0.07m | €0.07m | €0.06m | ▼ 22.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.01m | €0.008m | €0.009m | ▲ 2.2% |
| Trade debts44 | €0.02m | €0.03m | €0.001m | €0.01m | €0.008m | €0.01m | €96 | ▼ 99.1% |
| Suppliers440/4 | - | - | - | €0.01m | €0.008m | €0.01m | €96 | ▼ 99.1% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.005m | €0.007m | €0.001m | ▼ 85.8% |
| Taxes450/3 | - | - | - | €0.005m | €0.005m | €0.007m | €0.001m | ▼ 85.8% |
| Remuneration and social security454/9 | - | - | - | €0.02m | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.06m | €0.05m | €0.05m | €0.05m | = |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €373 | €400 | ▲ 7.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €66,180 | €209,033 | €45,511 | €488 | €5,802 | €17,448 | €2,023 | ▼ 88.4% |
| + Depreciation and write-downs630 | €137,862 | €95,367 | €98,184 | €98,128 | €94,262 | €64,484 | €60,517 | ▼ 6.2% |
| Operating cash flow (approximation) | €204,041 | €304,400 | €143,695 | €98,615 | €100,064 | €81,932 | €62,540 | ▼ 23.7% |
| Investment in fixed assets (approximation) | - | €4,357 | -€28,433 | -€12,928 | €18,181 | €0 | €20,776 | - |
| Change in cash | - | €27,646 | -€61,136 | -€27,556 | €20,748 | €67,027 | -€57,479 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 32 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 08-12-2025 | 2025-00577388 | |
| 30-06-2024 | micro format | 31-01-2025 | 2025-00018316 | |
| 30-06-2023 | micro format | 26-01-2024 | 2024-00007185 | |
| 30-06-2022 | micro format | 26-12-2022 | 2022-20546313 | |
| 30-06-2021 | micro format | 31-01-2022 | 2022-03700573 | |
| 30-06-2020 | micro format | 29-01-2021 | 2021-03500310 | |
| 30-06-2019 | micro format | 18-12-2019 | 2019-76600226 | |
| 30-06-2018 | micro format | 09-01-2019 | 2019-00800369 | |
| 30-06-2017 | micro format | 02-01-2018 | 2018-00300014 | |
| 30-06-2016 | full format | 07-12-2016 | 2016-69700543 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| IDE Patricia |
|
| KACENELENBOGEN Jeanne |
|
| KACENELENBOGEN Lou |
|
| KACENELENBOGEN Michel |
|
How the board is organised
- Board ruleHow the board is made up, meets and takes decisions.
- One provision in the deed
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Désignation liquidateurs, organe d’administration en collège”“Pouvoirs liquidateurs, toutes opérations prévues par loi”“Paiement dettes,charges,frais ou consignation puis répartition actif net au prorata actions, mode liquidation”
Articles of association, deed of 05-01-2024 (in French)
Owners and capital
Owners
1 ownerOwners 1
-
21.94%
Capital and shareholders
- KACENELENBOGEN Michel 17,939 shares
- IDE Patricia 9,188 shares
- WELLS & B (BE 0427.030.028) 7,623 shares
- 05-01-2024 Capital stated in the deed · €867,000 · 34,750 shares
Shares according to the articles of association
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- One provision in the deed
- Other provisionsRules from the articles on subjects other than the board, the shares, the purpose and the meetings.
- Other provision: “Actions souscrites en espèces et non entièrement libérées, appels de fonds”Other provision: “Nominatives, siège social”Other provision: “Nominatifs, nature des autres titres”Other provision: “Exercice par débiteur-gagiste, partage ou délivrance des legs”Other provision: “Lieu indiqué sinon siège social, 3 jours calendriers”Other provision: “Mandant réputé présent, écrit ou moyen à support matériel”Other provision: “Procès-verbaux du conseil, président ou deux administrateurs”Other provision: “Pouvoirs du conseil, tous actes nécessaires ou utiles à l’objet”Other provision: “Rémunération des administrateurs, gratuit sauf décision contraire de l'assemblée générale”Other provision: “Nomination de commissaires, un ou plusieurs commissaires”Other provision: “Admission à l'assemblée générale, droits afférents ne peuvent pas être suspendus”Other provision: “Représentation à l'assemblée générale, sauf si société informée d'une cession des actions concernées”Other provision: “Vote par correspondance, tout actionnaire peut voter par correspondance pour autant que l'organe d'administration ait prévu cette faculté”Other provision: “Composition du bureau, personnes citées avec les administrateurs présents”Other provision: “Délibération de l'assemblée générale, ne peut délibérer sur des points ne figurant pas dans l'ordre du jour”Other provision: “Assemblée générale par procédure écrite, à l'unanimité,par écrit,toutes décisions relevant de l'assemblée générale”Other provision: “Droit de vote, majorité des voix”Other provision: “Procès-verbaux assemblée générale, présences,rapports,procurations,votes par correspondance”Other provision: “Assemblée annuelle à majorité sur proposition conseil, affectation bénéfices”Other provision: “Litiges, société,actionnaires,administrateurs,délégués,permanents,directeurs,anciens,liquidateurs et entre eux”Other provision: “Élection de domicile, décès”Other provision: “Application Code des sociétés et des associations, clauses impératives contraires réputées non écrites”4 more provisions in the deed, see the deed of 05-01-2024
Articles of association, deed of 05-01-2024 (in French)
Group and network
Holdings and subsidiaries
1 holdingHoldings 1
-
3.33%
Former holdings (1)
-
share not stated
Connections & network
4 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
05-01
Gazette deed
Reappointments: KACENELENBOGEN Michel, IDE Patricia and 2 othersShareholding · Purpose change · Amendment of the articles16 facts ▸
- General meeting, 28-12-2023
- Other provision, “BE0447.918.482, immatriculation” (deed in French)
- Shareholding, 28-12-2023, 17939
- Shareholding, 28-12-2023, 9188
- Shareholding, 28-12-2023, 7623
- Purpose change
- Amendment of the articles
- Capital, €867,000
- Director reappointment, KACENELENBOGEN Michel (director (not named in the articles))
- Director reappointment, IDE Patricia (director (not named in the articles))
- Director reappointment, KACENELENBOGEN Jeanne (director (not named in the articles))
- Director reappointment, KACENELENBOGEN Lou (director (not named in the articles))
- +4 further facts in this act
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Who it is
KBO recordWhere it is based
What it does
NACEBEL 2025Invoicing and payment
Financial year and general meeting
Accounts at the NBBScores and ratios are computed by Checked and are not a credit decision.
Purpose according to the articles of association
- PurposeThe activities the company may carry out under its articles.
- “Toutes opérations se rapportant directement ou indirectement à la création,la construction,l’acquisition,la vente,la…”
6 activities
- Toutes opérations se rapportant directement ou indirectement à la création,la construction,l’acquisition,la vente,la location,l’investissement,l’exploitation et à la gestion de salles de spectacles,salles de cinéma,salles de théâtre,salles d’expositions,musées,de restaurants,bars,cafétérias ou autre débit de boissons et de « petite restauration »
- Toutes activités de production et d’édition dans les secteurs artistique,didactique,informatique et publicitaire ; toutes activités commerciales et promotionnelles y relatives,ainsi que la fourniture de biens et la prestation de service en rapport direct ou indirect avec lesdites activités,et de manière générale toutes activités en rapport avec le théâtre,le cinéma,la photographie
- Elle est habilitée à l’organisation d’évènements,de spectacles vivants,de projections,de séminaires ou de conférences et la numérisation de ces prestations
- La société peut offrir des prestations de coaching de professionnels et de particuliers en gestion,management,communication et marketing,tous secteurs confondus ; le conseil et la formation en gestion,management
- Toutes fonctions de consultance et/ou prestations de services liées au domaine administratif au sens le plus large du terme et à la gestion administratives ainsi que tous travaux de secrétariat
- Toutes activités,quelle que soit leur nature,en ce compris entrer dans de nouveaux secteurs économiques,destinées à permettre directement ou indirectement les services et opérations susmentionnées
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- ’H
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région de Bruxelles-Capitale, établir ou supprimer sièges administratifs,agences,ateliers,dépôts et succursales en Belgique et à l’étranger…”
Articles of association, deed of 05-01-2024 (in French)
Sites & property
2 establishment units
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21572B0070/00N017 | Brussels | 764 m² | 1 · 409 m² | 14.5 m · 4 |