Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of H-Con is 4.9% (elevated). The 2025 annual accounts show negative equity (€-44k) and a net result of €5k. Equity is shrinking by ~51.1% per year across the filed fiscal years. Its solvency ranks better than 14% of 1090 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 3 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone4.9%
Elevated
0%0,5%1,5%4%10%≥25%
Higher-failure-rate sector
+Young company
+Annual accounts: weaker financial profile
+
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Signals
1 signal · with evidenceWeak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 1090 sector peers (2025).
View the sector comparison Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.
Filing behaviour
From the deposit records, complete market-wideLatest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 06-01-2026, 25 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.
The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
How we compute the deadline
The year end is derived from 3 filed financial years, each closing on 30-06. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 30-06-2025, that is 31-01-2026.
Deadline per financial year
| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 30-06-2025 | 31-01-2026 | 06-01-2026 | 25 d early | 2026-00006300 |
| 30-06-2024 | 31-01-2025 | 04-02-2025 | 4 d late | 2025-00028327 |
| 30-06-2023 | 31-01-2024 | 30-01-2024 | 1 d early | 2024-00016003 |
Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
2 signalsMore than 3 years active
Founded in 2022, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Financials
TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€5k
Working capital€-119k+4.9%
Annual accounts & ratios
Source: NBB · 2025Annual accounts filed on 06-01-2026 with the NBB · fiscal year 2025 · micro
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~51.1%/year over 3 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 56, Food & beverage service · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -31.0% | 25.9% | |
| Net result | €5k | €7k | |
| Equity | €-44k | €23k | |
| Gross operating margin | €134k | €63k | |
| Staff costs | €98k | €51k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P14
Weakening position over 2023-2025
· n=1090-5634
P45
Improving position over 2023-2025
· n=1092-5623
P9
Weakening position over 2023-2025
· n=1094-5646
P72
Improving position over 2023-2025
· n=1088-5609
Describes the position versus peers, not a forecast.
€31k
-
23-25
€5k
-
23-25
€27k
-
23-25
€142k
-10.0%
23-25
€-44k
+9.9%
23-25
€-119k
+4.9%
23-25
3
-62.1%
23-25
€98k
-52.6%
23-25
Show 10 other metrics
€185k
-10.0%
23-25
€140k
-0.7%
23-25
€46k
-30.0%
23-25
0.15
+32.6%
23-25
0.15
+32.6%
23-25
-31.0%
-0.2%
23-25
-4.22
+0.1%
23-25
-10.9%
-
23-25
3.4%
-
23-25
7.15
-
23-25
Figures by fiscal year
| Fiscal year | 2025 |
|---|---|
| Deposit | micro |
| Revenue | - |
| EBITDA | €31k |
| Net profit | €5k |
| Cash flow | €27k |
| Staff costs | €98k |
| Income taxes | - |
| Dividends | - |
| Total assets | €142k |
| Equity | €-44k |
| Debt | €185k |
| of which ≤ 1y | €140k |
| of which > 1y | €46k |
| Working capital | €-119k |
| Employees (FTE) | 2.5 |
Ratios (computed)
| 2025 | |
|---|---|
| Current ratio | 0.15 |
| Quick ratio | 0.15 |
| Working capital ratio | -83.7% |
| Solvency | -31.0% |
| Debt / equity | -4.22 |
| Long-term debt ratio | -1.04 |
| Interest coverage | 7.15 |
| Gross margin | - |
| Net margin | - |
| ROA | 3.4% |
| ROE | -10.9% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2025
Full annual accounts (21 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €142k |
| Fixed assets | 21/28 | €120k |
| Tangible fixed assets | 22/27 | €120k |
| Current assets | 29/58 | €21k |
| Amounts receivable within one year | 40/41 | €8k |
| Cash & bank | 54/58 | €11k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €142k |
| Equity | 10/15 | €-44k |
| Contributions / capital | 10/11 | €25k |
| Accumulated profits (losses) | 14 | €-69k |
| Amounts payable | 17/49 | €185k |
| Amounts payable after one year | 17 | €46k |
| Amounts payable within one year | 42/48 | €140k |
| Trade debts payable within one year | 44 | €17k |
| Income statement | ||
| Gross operating margin | 9900 | €134k |
| Operating result | 9901 | €9k |
| Financial income | 75 | €418 |
| Financial charges | 65 | €4k |
| Result before taxes | 9903 | €5k |
| Net result for the period | 9904 | €5k |
| Result to be appropriated | 9905 | €5k |
This table shows the latest fiscal year. 2 prior years, with figures and ratios, belong to a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2025 · computed16
/ 100
Critical
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.
See plans →Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Directors
Directors & mandates
1 director2 of this company's 2 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing below: a director who resigned there may therefore still show here as sitting. See the acts under Publications.
Current directors & mandates
-
Petra FestjensDirectorState Gazette act 25024965 (24-02-2025)Current01-02-2025 → present
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Activiteiten van eetgelegenheden met beperkte bediening, muv mobiele eetgelegenheden(56112) |
| Legal form | Private limited company(610) |
| Incorporation | 13-05-2022 |
| Status | Active |
| Postal code | 2520 |
Structure & network
Locations & real estate
Registered office
on the map · from the address registerEstablishment units
1 locationBarraf
since 20222.334.323.311
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels2
Ground area836 m²
Buildings2
Building footprint428 m²
Volume (LiDAR)3,254 m³
Tallest building13.4 m · ±4 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11015B0329/00H002 | Flanders | 512 m² | 1 · 99 m² | 8.3 m · 2 fl. |
| 12393F0293/00F003 | Flanders | 324 m² | 1 · 329 m² | 13.3 m · 4 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
1 acts All acts · 1
updated 1 year ago
2025
24-02-2025 Petra Festjens appointed as director
- Petra Festjens, Bestuurder
Analysis
Financial profile
5 of 5 axes measured40
/ 100
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
Health
16
Profitability
0
Solvency
33
Growth
58
Stability
94
Credit advice
verdict per customer and amountSimilar
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We hold annual accounts for 2,996 of the 21,773 companies in this sector. 762 of them are within a factor 10 of this company's equity.
Company registry
Company registry (CBE)
Crossroads BankActivities
Eetgelegenheden met beperkte bediening56102Activiteiten van eetgelegenheden met beperkte bediening, muv mobiele eetgelegenheden56112Cafés en bars56301Cafés en bars56301Ambachtelijke vervaardiging van brood en van vers banketbakkerswerk10712Ambachtelijke vervaardiging van brood en van vers banketbakkerswerk10712Overige niet-gespecialiseerde detailhandel47120Detailhandel in groenten en fruit47210Detailhandel in brood en banketbakkerswerk in gespecialiseerde winkels (koude bakkers)47241Detailhandel in brood en banketbakkerswerk (koude bakkers)47241Markt- en straathandel in voedings- en genotmiddelen47810Detailhandel via postorderbedrijven of via internet47910Cafés en bars56301Cafés en bars56301
Primary activity highlighted.
Names & trade names
| Legal nameNL | H-Con |
Registered office
Liersesteenweg 121 bus D
2520 Ranst, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.