Active BE 0442.686.719Public limited company

H & D COMPANY

Albert I laan 98 ·8620 Nieuwpoort, Belgium· 35 yrs active

Sector: Administratieve en ondersteunende activiteiten ten behoeve van kantoren (82100)

Conclusion Checked

The computed 12-month bankruptcy probability of H & D COMPANY is 0.3% (very low). The 2025 annual accounts show negative equity (€-824k) and a net result of €313. Equity is shrinking by ~9.2% per year across the filed fiscal years. Its solvency ranks better than 5% of 1090 sector peers (fiscal year 2025). The company has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 7 annual accounts.

Key figures

Equity	€-824k
Net result	€313
Better than sector	5%
Active	35 yrs

Financial profile 5 of 5 axes measured · computed by Checked

35 / 100

Fragile profile, watch profitability in particular.

All 5 axes are computed from data Checked has read.

Health 8

Profitability 0

Solvency 33

Growth 32

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.3% Very low

0%0,5%1,5%4%10%≥25%

Long track record −Lower-failure-rate sector −Annual accounts: weaker financial profile +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Long-established

Founded in 1991, 35 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

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.

Health barometer FY 2025 · computed

8 / 100 Critical

050100

Computed from 4 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.

Financial overview10 NBB filings

Annual accounts filed on 22-09-2025 with the NBB · fiscal year 2025 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining Equity: declining trend of ~9.2%/year over 7 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 82 · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	-1968.3%	51.3%	better than 5% of 1090 sector peers
Net result	€313	€24k	better than 17% of 1090 sector peers
Equity	€-824k	€51k	better than 5% of 1091 sector peers
Gross operating margin	€35k	€45k	better than 40% of 1090 sector peers
Total assets	€42k	€117k	better than 17% of 1092 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Net profit

€313

- 19-25

Total assets

€42k

+7.3% 19-25

Equity

€-824k

0.0% 19-25

Working capital

€-824k

0.0% 19-25

Income taxes

€4k

-75.6% 19-25

Debt

€865k

+0.3% 19-25

Debt ≤ 1y

€865k

+0.3% 19-25

Current ratio

0.05

+7.0% 19-25

Show 5 other metrics

Quick ratio

0.05

+7.0% 19-25

Solvency

-1968.3%

+6.8% 19-25

Debt / equity

-1.05

-0.3% 19-25

ROE

0.0%

- 19-25

ROA

0.7%

- 19-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	micro
Revenue	-
EBITDA	-
Net profit	€313
Cash flow	-
Staff costs	-
Income taxes	€4k
Dividends	-
Total assets	€42k
Equity	€-824k
Debt	€865k
of which ≤ 1y	€865k
of which > 1y	-
Working capital	€-824k
Employees (FTE)	-

Ratios (computed)

	2025
Current ratio	0.05
Quick ratio	0.05
Working capital ratio	-1968.3%
Solvency	-1968.3%
Debt / equity	-1.05
Long-term debt ratio	-
Interest coverage	-
Gross margin	-
Net margin	-
ROA	0.7%
ROE	0.0%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Full annual accounts (18 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	€42k
Current assets	29/58	€42k
Cash & bank	54/58	€7k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€42k
Equity	10/15	€-824k
Contributions / capital	10/11	€100k
Reserves	13	€10k
Accumulated profits (losses)	14	€-934k
Amounts payable	17/49	€865k
Amounts payable within one year	42/48	€865k
Trade debts payable within one year	44	€11k
Income statement
Gross operating margin	9900	€35k
Operating result	9901	€33k
Financial charges	65	€30k
Result before taxes	9903	€4k
Income taxes	67/77	€4k
Net result for the period	9904	€313
Result to be appropriated	9905	€313

This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Directors & mandates 6 directors

Directors derived from a single State Gazette act, under verification

All 3 current directors first appear in the same act (22123210). Founders or capital subscribers may have been counted as directors here; the real board composition is being verified.

Current directors & mandates

Adelin Cloet
Director
State Gazette act 22123210 (17-10-2022)

Current
13-10-2016 → present
4 events
- 17-10-2022 Appointed· Director
- 17-10-2022 Appointed· Managing director
- 13-10-2016 Appointed· Director
- 13-10-2016 Appointed· Gedelegeerde bestuurder
Delphine Cloet
Director
State Gazette act 22123210 (17-10-2022)

Current
13-10-2016 → present
4 events
- 17-10-2022 Appointed· Director
- 17-10-2022 Appointed· Managing director
- 13-10-2016 Appointed· Director
- 13-10-2016 Appointed· Gedelegeerde bestuurder
Heline Cloet
Director
State Gazette act 22123210 (17-10-2022)

Current
13-10-2016 → present
4 events
- 17-10-2022 Appointed· Director
- 17-10-2022 Appointed· Managing director
- 13-10-2016 Appointed· Director
- 13-10-2016 Appointed· Gedelegeerde bestuurder

Permanent representatives (1)

These people represent a legal-person director (a management company, for instance). They hold no board mandate of their own and do not count as directors.

Alexander Vanhie
Vaste vertegenwoordiger
State Gazette act 07090014 (25-06-2007)

Permanent representative
- → 25-06-2007

Former directors (3)

Stijn Devos
Director
State Gazette act 16043803 (29-03-2016)

Former
- → 29-03-2016
Sylvie Vanhamme
Director
State Gazette act 15035910 (06-03-2015)

Former
- → 06-03-2015
Dhr. Tim Meuleneire
Managing director
State Gazette act 15022988 (11-02-2015)

Former
- → 11-02-2015

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.

Legal Structure

NACE primary	Administratieve en ondersteunende activiteiten ten behoeve van kantoren(82100)
Legal form	Public limited company(014)
Incorporation	04-01-1991
Status	Active
Postal code	8620

Establishment units 1 location

H & D Company

Albert I laan 98, 8620 NieuwpoortDiverse administratieve activiteiten ten behoeve van kantoren

since 20022.184.475.632

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Real-estate footprint Source: CBE × cadastre

Parcels 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 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
38402D0233/00A000	Flanders	200 m²	1 · 232 m²	25.3 m · 7 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 17 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2025

22-09-2025

NBB filing Annual accounts filed

fiscal year 2025 · micro

2024

26-09-2024

NBB filing Annual accounts filed

fiscal year 2024 · micro

2023

30-10-2023

NBB filing Annual accounts filed

fiscal year 2023 · micro

2022

17-10-2022

State Gazette act Director changes

v3.2

16-09-2022

NBB filing Annual accounts filed

fiscal year 2022 · micro

2021

06-10-2021

NBB filing Annual accounts filed

fiscal year 2021 · micro

2020

08-10-2020

NBB filing Annual accounts filed

fiscal year 2020 · micro

2019

08-10-2019

NBB filing Annual accounts filed

fiscal year 2019 · micro

2018

30-09-2018

NBB filing Annual accounts filed

fiscal year 2018 · micro

2017

25-09-2017

NBB filing Annual accounts filed

fiscal year 2017 · micro

2016

13-10-2016

State Gazette act Director changes

v3.2

27-09-2016

NBB filing Annual accounts filed

fiscal year 2016 · verkort

29-03-2016

State Gazette act Director changes

v3.2

2015

13-03-2015

State Gazette act Statutes amendment

v3.2

06-03-2015

State Gazette act Director changes

v3.2

11-02-2015

State Gazette act Director changes

v3.2

2007

25-06-2007

State Gazette act Director changes

v3.2

Belgian State Gazette reading coverage 0 of 14 acts read

We know of 14 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 7 acts

All acts · 7 updated 3 years ago

2022

17-10-2022 6 directors appointed Director changes

Adelin Cloet, Bestuurder
Delphine Cloet, Bestuurder
Heline Cloet, Bestuurder
Adelin Cloet, Gedelegeerd bestuurder
Delphine Cloet, Gedelegeerd bestuurder
Heline Cloet, Gedelegeerd bestuurder

Summary: v3.2

Original publication ↗

Technical details

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2016

13-10-2016 6 directors appointed Director changes

Adelin Cloet, Bestuurder
Delphine Cloet, Bestuurder
Heline Cloet, Bestuurder
Adelin Cloet, Gedelegeerde bestuurder
Delphine Cloet, Gedelegeerde bestuurder
Heline Cloet, Gedelegeerde bestuurder

Summary: v3.2

Original publication ↗

Technical details

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29-03-2016 Stijn Devos resigns as director Director changes

Stijn Devos, Bestuurder

Summary: v3.2

Original publication ↗

Technical details

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2015

13-03-2015 Articles of association amended Statutes amendment

Summary: v3.2

Original publication ↗

Technical details

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06-03-2015 Sylvie Vanhamme resigns as director Director changes

Sylvie Vanhamme, Bestuurder

Summary: v3.2

Original publication ↗

Technical details

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11-02-2015 Dhr. Tim Meuleneire resigns as managing director Director changes

Dhr. Tim Meuleneire, Gedelegeerd bestuurder

Summary: v3.2

Original publication ↗

Technical details

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2007

25-06-2007 Alexander Vanhie resigns as vaste vertegenwoordiger Director changes

Alexander Vanhie, Vaste vertegenwoordiger

Summary: v3.2

Original publication ↗

Technical details

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Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Administratieve en ondersteunende activiteiten ten behoeve van kantoren82100Diverse administratieve activiteiten ten behoeve van kantoren82110

Primary activity highlighted.

Names & trade names

Legal nameNL

H & D COMPANY

Registered office

Albert I laan 98

8620 Nieuwpoort, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.

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