H&A
ActiveSummary
The annual accounts of H&A for fiscal year 2025 show a net loss of 73% of the equity at the start of that year. The 2025 annual accounts show equity of €6k and a net result of €-16k. Equity is shrinking by ~13.8% per year across the filed fiscal years. Its solvency ranks better than 20% of 405 sector peers (fiscal year 2025). The company has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency33▼-21
Growth32=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.98 against 1.23 in 2024; short-term debt: 91.9% and cash: 0% of total assets), and 91.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 31
Relative position
BE, all sectors
reference
Manufacture of furniture (NACE 31)
about 43% more 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
8.1%
Return on assets
-21.8%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-16k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 405 sector peers (2025).
NBB · sector comparisonPosition among 405 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
26 d late
2024
27 d late
2023
26 d late
2022
9 d late
2021
16 d late
2020
20 d late
2019
28 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€6k▼ 73.0%
2024 · €22k
2018: €53k
2019: €50k▼ -5.5% vs 2018
2020: €63k▲ +26.2% vs 2019
2021: €69k▲ +9.0% vs 2020highest in 8 years
2022: €49k▼ -28.2% vs 2021
2023: €43k▼ -13.8% vs 2022
2024: €22k▼ -47.3% vs 2023
2025: €6k▼ -73.0% vs 2024lowest in 8 years
2018 → 2025
Total assets
€75k▼ 3.1%
2024 · €78k
2018: €77k
2019: €79k▲ +2.8% vs 2018
2020: €108k▲ +36.6% vs 2019
2021: €115k▲ +6.6% vs 2020highest in 8 years
2022: €79k▼ -31.4% vs 2021
2023: €78k▼ -1.2% vs 2022
2024: €78k▼ -0.5% vs 2023
2025: €75k▼ -3.1% vs 2024lowest in 8 years
2018 → 2025
Net result
€-16k▲ 18.5%
2024 · €-20k
2018: €12k
2019: €-3k▼ -125% vs 2018
2020: €13k▲ +551% vs 2019highest in 8 years
2021: €6k▼ -56.7% vs 2020
2022: €-19k▼ -443% vs 2021
2023: €-7k▲ +64.9% vs 2022
2024: €-20k▼ -195% vs 2023lowest in 8 years
2025: €-16k▲ +18.5% vs 2024
2018 → 2025
Working capital
€-1k
2024 · €13k
2018: €38k
2019: €37k▼ -2.1% vs 2018
2020: €51k▲ +38.0% vs 2019
2021: €59k▲ +15.0% vs 2020highest in 8 years
2022: €42k▼ -28.8% vs 2021
2023: €30k▼ -28.7% vs 2022
2024: €13k▼ -57.9% vs 2023
2025: €-1k▼ -109% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€69k-€49k▼ 28.2%€43k▼ 13.8%€22k▼ 47.3%€6k▼ 73.0%
2021: €69khighest in 5 years
2022: €49k▼ -28.2% vs 2021
2023: €43k▼ -13.8% vs 2022
2024: €22k▼ -47.3% vs 2023
2025: €6k▼ -73.0% vs 2024lowest in 5 years
Operating result€8k-€-19k€-6k▲ 66.3%€-20k▼ 210%€-17k▲ 12.4%
2021: €8khighest in 5 years
2022: €-19k▼ -334% vs 2021
2023: €-6k▲ +66.3% vs 2022
2024: €-20k▼ -210% vs 2023lowest in 5 years
2025: €-17k▲ +12.4% vs 2024
Net result€6k-€-19k€-7k▲ 64.9%€-20k▼ 195%€-16k▲ 18.5%
2021: €6khighest in 5 years
2022: €-19k▼ -443% vs 2021
2023: €-7k▲ +64.9% vs 2022
2024: €-20k▼ -195% vs 2023lowest in 5 years
2025: €-16k▲ +18.5% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €17k in 2025 against €20k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €75k
Fixed assets
€7k ▼ 26.9%
Current assets
€68k ▲ 0.4%
Equity and liabilities €75k
Equity
€6k ▼ 73.0%
Debt
€69k ▲ 25.4%
Debt's share of the balance-sheet total rises from 71.0% to 91.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-15k▲
2024 · €-17k
Cash flow
€-14k▲
2024 · €-17k
Current ratio
0.98▼
2024 · 1.23
Quick ratio
0.78▼
2024 · 0.97
Debt to equity
11.38▲
2024 · 2.45
ROE
-269.9%▼
2024 · -89.6%
ROA
-21.8%▲
2024 · -25.9%
Interest coverage
-204.21▼
2024 · -171.20
Debt ≤ 1 year
€69k▲
2024 · €55k
Income taxes
€214▼
2024 · €218
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 44 lines
Balance sheet
Code20242025
Assets
Total assets20/58€78k€75k▼
Fixed assets21/28€10k€7k▼
Tangible fixed assets22/27€10k€7k▼
Plant, machinery and equipment23€508€322▼
Furniture and vehicles24€5k€3k▼
Other tangible fixed assets26€5k€4k▼
Current assets29/58€68k€68k▲
Stocks and contracts in progress3€14k€14k=
Stocks30/36€14k€14k=
Amounts receivable within one year40/41€51k€54k▲
Trade receivables40€51k€52k▲
Other amounts receivable41€606€2k▲
Cash at bank and in hand54/58€16€18▲
Deferred charges and accrued income490/1€2k-
Equity and liabilities
Total equity and liabilities10/49€78k€75k▼
Equity10/15€22k€6k▼
Contributions10/11€7k€7k=
Reserves13€47k€47k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€45k€45k=
Profit (loss) carried forward14€-31k€-47k▼
Amounts payable17/49€55k€69k▲
Amounts payable within one year42/48€55k€69k▲
Trade debts44€7k€3k▼
Suppliers440/4€7k€3k▼
Taxes, remuneration and social security45€628€841▲
Taxes450/3€628€841▲
Other amounts payable47/48€48k€65k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€3k▼
Other operating charges640/8€125€1k▲
Gross operating margin9900€-17k€-14k▲
Operating profit (loss)9901€-20k€-17k▲
Financial income75/76B-€1k
Recurring financial income75-€1k
Non-recurring financial income76B-€1k
Financial charges65/66B€99€72▼
Recurring financial charges65€99€72▼
Profit (loss) for the period before taxes9903€-20k€-16k▲
Income taxes67/77€218€214▼
Profit (loss) for the period9904€-20k€-16k▲
Profit (loss) for the period to be appropriated9905€-20k€-16k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-31k€-47k▼
Profit (loss) brought forward from the previous period14P€-10k€-31k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5k | €5k | €2k | €3k | €3k | ▼ 7.3% |
| Other operating charges640/8 | €1k | €2k | €1k | €125 | €1k | ▲ 780% |
| Gross operating margin9900 | €14k | €-12k | €-4k | €-17k | €-14k | ▲ 19.1% |
| Operating profit (loss)9901 | €8k | €-19k | €-6k | €-20k | €-17k | ▲ 12.4% |
| Financial income75/76B | €2 | €64 | - | - | €1k | - |
| Recurring financial income75 | €2 | €64 | - | - | €1k | - |
| Non-recurring financial income76B | - | - | - | - | €1k | - |
| Financial charges65/66B | €124 | €284 | €183 | €99 | €72 | ▼ 27.3% |
| Recurring financial charges65 | €124 | €284 | €183 | €99 | €72 | ▼ 27.3% |
| Profit (loss) for the period before taxes9903 | €8k | €-19k | €-7k | €-20k | €-16k | ▲ 18.7% |
| Income taxes67/77 | €2k | €256 | €256 | €218 | €214 | ▼ 1.8% |
| Profit (loss) for the period9904 | €6k | €-19k | €-7k | €-20k | €-16k | ▲ 18.5% |
| Profit (loss) for the period to be appropriated9905 | €6k | €-19k | €-7k | €-20k | €-16k | ▲ 18.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €115k | €79k | €78k | €78k | €75k | ▼ 3.1% |
| Fixed assets21/28 | €11k | €8k | €13k | €10k | €7k | ▼ 26.9% |
| Tangible fixed assets22/27 | €11k | €8k | €13k | €10k | €7k | ▼ 26.9% |
| Plant, machinery and equipment23 | - | €879 | €693 | €508 | €322 | ▼ 36.6% |
| Furniture and vehicles24 | €5k | €1k | €7k | €5k | €3k | ▼ 39.4% |
| Other tangible fixed assets26 | €6k | €6k | €5k | €5k | €4k | ▼ 12.5% |
| Current assets29/58 | €104k | €71k | €65k | €68k | €68k | ▲ 0.4% |
| Stocks and contracts in progress3 | €9k | €9k | €11k | €14k | €14k | = |
| Stocks30/36 | €9k | €9k | €11k | €14k | €14k | = |
| Amounts receivable within one year40/41 | €76k | €54k | €51k | €51k | €54k | ▲ 4.7% |
| Trade receivables40 | €75k | €53k | €48k | €51k | €52k | ▲ 2.8% |
| Other amounts receivable41 | €956 | €148 | €3k | €606 | €2k | ▲ 165% |
| Current investments50/53 | - | - | €47 | - | - | - |
| Cash at bank and in hand54/58 | €12k | €3k | - | €16 | €18 | ▲ 12.5% |
| Deferred charges and accrued income490/1 | €7k | €5k | €4k | €2k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €115k | €79k | €78k | €78k | €75k | ▼ 3.1% |
| Equity10/15 | €69k | €49k | €43k | €22k | €6k | ▼ 73.0% |
| Contributions10/11 | €7k | €7k | €7k | €7k | €7k | = |
| Reserves13 | €47k | €47k | €47k | €47k | €47k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €45k | €45k | €45k | €45k | €45k | = |
| Profit (loss) carried forward14 | €16k | €-4k | €-10k | €-31k | €-47k | ▼ 53.7% |
| Amounts payable17/49 | €46k | €30k | €35k | €55k | €69k | ▲ 25.4% |
| Amounts payable after more than one year17 | €971 | - | - | - | - | - |
| Financial debts170/4 | €971 | - | - | - | - | - |
| Amounts payable within one year42/48 | €45k | €30k | €35k | €55k | €69k | ▲ 25.4% |
| Current portion of amounts payable after more than one year42 | €5k | €3k | - | - | - | - |
| Trade debts44 | €8k | - | €1k | €7k | €3k | ▼ 50.0% |
| Suppliers440/4 | €8k | - | €1k | €7k | €3k | ▼ 50.0% |
| Taxes, remuneration and social security45 | €5k | €3k | €3k | €628 | €841 | ▲ 33.9% |
| Taxes450/3 | €5k | €3k | €3k | €628 | €841 | ▲ 33.9% |
| Other amounts payable47/48 | €27k | €23k | €32k | €48k | €65k | ▲ 36.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6k | €-19k | €-7k | €-20k | €-16k | ▲ 18.5% |
| + Depreciation and write-downs630 | €5k | €5k | €2k | €3k | €3k | ▼ 7.3% |
| Operating cash flow (approximation) | €11k | €-14k | €-5k | €-17k | €-14k | ▲ 20.4% |
| Investment in fixed assets (approximation) | - | €-2k | €-7k | €1 | €0 | ▼ 100% |
| Change in cash | - | €-9k | - | - | €2 | - |
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
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 26 days late
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Weakest financial yearnet €-20k
Net result drops to €-20k, the lowest in the series; recovery starts the following year.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
09-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 9 days late
2022
16-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 16 days late
2021
20-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 20 days late
2020
31-12
Financial
Back to profitnet €13k
Net result €13k after one loss-making year.
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
15-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 107 days late
2017
16-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 47 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Lubbeek · 1 establishment unit since 2006
Ground area
2,033 m²
Building footprint
167 m²
Volume, LiDAR
956 m³
Parcel 24066G0196/00F000, Flanders · tallest building 10.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Verlorenhoekweg(LUB) 20, 3210 Lubbeek
since 20062.157.763.812
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24066G0196/00F000 | Flanders | 2,033 m² | 1 · 167 m² | 10.9 m · 2 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 446 companies in sector 31001 we hold annual accounts for 208. 68 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 (pre-2019)
Founded08-11-2006
Fiscal year end31-12
Activities, NACEBEL 2025
31001Manufacture of furniture
43320Joinery installation
Scores and ratios are computed by Checked and are not a credit decision.