H.D.S.
ActiveSummary
H.D.S. has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €995,731 and a net result of €992,038. Equity is growing by ~28.7% per year across the filed fiscal years. Its solvency ranks better than 83% of 10645 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+100
Solvency97▲+66
Growth52▲+17
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €75,000 at 30 days acceptable
Liquidity ample (current ratio 3.52 against 1.1 in 2024; short-term debt: 28.4% and cash: 0.1% of total assets), and 28.4% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
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
Retail trade (NACE 47)
about 45% more bankruptcies
← 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
71.6%
Return on assets
71.3%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
28 d late
2022
6 d early
2021
116 d early
2020
5 d early
2019
22 d early
2018
41 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 19 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
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. Usually files around 26 July (4 of the last 5 filed years within 36 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€2,104▼ 41.7%
2018 · €3,606
EBIT margin
51.4%▲ 60.8pp
2018 · -9.4%
Net result
€992,038
2024 · -€9,269
Working capital
€995,820▲ 17,322%
2024 · €5,716
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220242025
Turnover
Operating result-€2,005-€618▲ 69.2%€20,577-€10,211-€1.4m
Net result-€2,206below the sector's middle half▼ 249%-€818within the sector's middle half▲ 62.9%€19,122within the sector's middle half-€9,269below the sector's middle half-€992,038above the sector's middle half
EBIT margin
Equity-€34,078below the sector's middle half▼ 6.9%-€34,896below the sector's middle half▼ 2.4%-€15,774below the sector's middle half▲ 54.8%€3,693within the sector's middle half-€995,731above the sector's middle half▲ 26,862%
Total assets€2,985below the sector's middle half▼ 42.5%€1,767below the sector's middle half▼ 40.8%€402below the sector's middle half▼ 77.3%€60,551within the sector's middle half-€1.4mwithin the sector's middle half▲ 2,197%
Debt€37,063=€36,663▼ 1.1%€16,176▼ 55.9%€56,858-€395,096▲ 595%
Working capital-€35,317below the sector's middle half▼ 6.7%-€36,136below the sector's middle half▼ 2.3%-€15,774below the sector's middle half▲ 56.3%€5,716within the sector's middle half-€995,820above the sector's middle half▲ 17,322%
Solvency6.1%within the sector's middle half-71.6%above the sector's middle half▲ 65.5pp
Current ratio1.10within the sector's middle half-3.52above the sector's middle half▲ 2.42
Return on assets (ROA)-15.3%below the sector's middle half-71.3%above the sector's middle half▲ 86.6pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €1.4m after a loss of €10,211 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €1.4m
Equity
€995,731 ▲ 26,862%
Debt
€395,096 ▲ 595%
Debt's share of the balance-sheet total falls from 93.9% to 28.4%. Equity and debt are higher.
Key figures and ratios
Debt to equity
0.40▼
2024 · 15.40
ROE
99.6%▲
2024 · -251.0%
Debt ≤ 1 year
€395,007▲
2024 · €54,835
Income taxes
€360,666▲
2024 · €187
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,134 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,341 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% | 1.0% |
| 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% 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 20,134 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.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €22,534 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €563 | €1,900 | - | - | - |
| Other operating charges640/8 | - | €55 | €57 | €2,095 | €1,207 | ▼ 42.4% |
| Gross operating margin9900 | -€557 | -€563 | €20,634 | -€8,117 | €1.4m | ▲ 16,787% |
| Operating profit (loss)9901 | -€2,005 | -€618 | €20,577 | -€10,211 | €1.4m | ▲ 13,352% |
| Financial income75/76B | - | - | - | €3,231 | €1,726 | ▼ 46.6% |
| Recurring financial income75 | - | - | - | €3,231 | €1,726 | ▼ 46.6% |
| Financial charges65/66B | - | €201 | €1,455 | €2,102 | €2,194 | ▲ 4.4% |
| Recurring financial charges65 | €200 | €201 | €216 | €2,102 | €2,194 | ▲ 4.4% |
| Non-recurring financial charges66B | - | - | €1,239 | - | - | - |
| Profit (loss) for the period before taxes9903 | -€2,206 | -€818 | €19,122 | -€9,083 | €1.4m | ▲ 14,993% |
| Income taxes67/77 | - | - | - | €187 | €360,666 | ▲ 193,141% |
| Profit (loss) for the period9904 | -€2,206 | -€818 | €19,122 | -€9,269 | €992,038 | ▲ 10,802% |
| Profit (loss) for the period to be appropriated9905 | -€2,206 | -€818 | €19,122 | -€9,269 | €992,038 | ▲ 10,802% |
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2,985 | €1,767 | €402 | €60,551 | €1.4m | ▲ 2,197% |
| Fixed assets21/28 | €1,239 | €1,239 | - | - | - | - |
| Financial fixed assets28 | €1,239 | €1,239 | - | - | - | - |
| Current assets29/58 | €1,745 | €527 | €402 | €60,551 | €1.4m | ▲ 2,197% |
| Amounts receivable within one year40/41 | €263 | €263 | €402 | €57,313 | €1.4m | ▲ 2,322% |
| Trade receivables40 | - | €40 | - | €7,213 | €1.4m | ▲ 18,978% |
| Other amounts receivable41 | - | €223 | €402 | €50,099 | €11,907 | ▼ 76.2% |
| Cash at bank and in hand54/58 | €1,482 | €264 | - | €8 | €817 | ▲ 10,082% |
| Deferred charges and accrued income490/1 | - | - | - | €3,231 | €1,934 | ▼ 40.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2,985 | €1,767 | €402 | €60,551 | €1.4m | ▲ 2,197% |
| Equity10/15 | -€34,078 | -€34,896 | -€15,774 | €3,693 | €995,731 | ▲ 26,862% |
| Contributions10/11 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Capital10 | - | €6,197 | €6,197 | - | - | - |
| Issued capital100 | - | €18,592 | €18,592 | - | - | - |
| Uncalled capital101 | - | €12,395 | €12,395 | - | - | - |
| Profit (loss) carried forward14 | -€40,275 | -€41,093 | -€21,972 | -€2,504 | €989,533 | ▲ 39,614% |
| Amounts payable17/49 | €37,063 | €36,663 | €16,176 | €56,858 | €395,096 | ▲ 595% |
| Amounts payable within one year42/48 | €37,063 | €36,663 | €16,176 | €54,835 | €395,007 | ▲ 620% |
| Trade debts44 | - | - | - | €9,489 | €7,407 | ▼ 21.9% |
| Suppliers440/4 | - | - | - | €9,489 | €7,407 | ▼ 21.9% |
| Taxes, remuneration and social security45 | - | - | - | €29,170 | €387,600 | ▲ 1,229% |
| Taxes450/3 | - | - | - | €29,170 | €387,600 | ▲ 1,229% |
| Other amounts payable47/48 | - | €36,663 | €16,176 | €16,176 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €2,023 | €89 | ▼ 95.6% |
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,206 | -€818 | €19,122 | -€9,269 | €992,038 | ▲ 10,802% |
| Operating cash flow (approximation) | -€2,206 | -€818 | €19,122 | -€9,269 | €992,038 | ▲ 10,802% |
| Investment in fixed assets (approximation) | - | €0 | - | - | - | - |
| Change in cash | - | -€1,218 | - | - | €809 | - |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
24-07
State Gazette act
Reappointment: NAA Pascal (administrateur non statutaire)Capital conversion · Reserve release · Purpose change13 facts ▸
State Gazette act
Reappointment: NAA Pascal (administrateur non statutaire)
Capital conversion · Reserve release · Purpose change13 facts ▸
- General meeting, 02-07-2026
- Capital conversion, compte de capitaux propres statutairement indisponible
- Capital conversion, compte de capitaux propres 'apports non appelés'
- Reserve release, versements futurs de la part non encore libérée, compte de capitaux propres statutairement indisponible
- Purpose change
- Statutes amendment
- Capital
- Other statement, suppression of operating seats
- Director reappointment, NAA Pascal (administrateur non statutaire)
- Registered office clause, 4880 Aubel, Impasse Larondelle 5
- Power of attorney
- Power of attorney
- +1 further facts in this act
2025
31-12
Financial
Back to profitnet €992,038
Net result €992,038 after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 3.52
Current ratio from 1.10 to 3.52.
31-12
Financial
Equity above €500,000Eq €995,731 ▲26,862%
Equity rises from €3,693 to €995,731.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
31-12
Financial
Weakest financial yearnet -€9,269
Net result drops to -€9,269, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 44current ratio 1.10
Current ratio from 0.02 to 1.10.
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €19,122
Net result €19,122 after 4 loss-making years.
06-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
26-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Show earlier events
2020
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
19-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 50 days late
2017
27-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 58 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 30 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 10 acts read
About the unread acts
Of the 10 Belgian State Gazette acts we know for this company, 1 has been read. The other 9 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director
NAA Pascal
CurrentAdministrateur non statutaire
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
9 of this company's 10 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Aubel · 2 establishment units since 1995
Ground area
689 m²
Building footprint
125 m²
Volume, LiDAR
554 m³
2 parcels, Wallonia · tallest building 9.0 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
SOURCING INDO
since 19952.071.597.425
LES ARTISANS DU PAIN
since 19972.071.597.524
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63003B0185/00N000 | Wallonia | 538 m² | 1 · 71 m² | 9.0 m · 3 fl. |
| 92007F0083/00X000 | Wallonia | 150 m² | 1 · 53 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| NAA Pascal |
|
Articles of association
Who signs
Each director alone
Duration
Unlimited
Purpose
La reprise, l’exploitation, la mise en location, la gérance, l’achat, la vente de tous fonds de commerce, et établissements et cela dans divers domaines de l’horeca, cafés…
Full purpose (14 activities)
- La reprise, l’exploitation, la mise en location, la gérance, l’achat, la vente de tous fonds de commerce, et établissements et cela dans divers domaines de l’horeca, cafés, restauration et établissements de nuit, commerces divers, industries et autres et ce dans le sens le plus large
- La prise de participation dans toutes sociétés d’exploitation, de fonds de commerce, de brevet ou d’établissement
- La formation de membres coopérateurs dans le domaine de l’horeca, d’entretien en général ainsi que dans la construction, la rénovation immobilière avec recherche de travaux pour l’emploi de cette main d’œuvre spécialisée
- La représentation tant en Belgique qu’à l’étranger de toutes industries, grossistes, sociétés financières ainsi que l’importation ou l’exportation de toutes marchandises
- L’achat, la vente en qualité de marchand de biens ou simplement d’intermédiaires commissionnés de tous immeubles, usines, terrains, brevets et exploitations diverses
- Promotion de toutes sociétés, agricoles, élevage, industrielle, financière ou d’assurance
- La vente en détail et sur les marchés et le commerce ambulant de fleurs, articles cadeau, fleurs artificielles et séchées
- Vente en détail, sur les marchés et la voie publique, et commerce ambulant de conserves, et de confiseries et pâtisseries
- L'exploitation de pompes à essence et stations-services, avec vente en gros et au détail de tous produits pétroliers, de marchandises, de fournitures et d'articles divers en rapport direct ou indirect avec le commerce de station-service, tels que, essence, huiles, toutes pièces de rechange ou de lavage pour voiture, montage de pneus, charbon, bouteilles de gaz, bois de chauffage, tabacs, cigares, cigarettes, boissons et confiseries, produits laitiers, aliments pour animaux, billets de lotto, articles de librairie, articles de cadeaux, fleurs, produits de parapharmacie, vêtements et chaussures, sans que cette liste ne soit limitative
- Les activités d’intermédiaire dans la vente de stations-services
- La vente, l’échange, l’importation et l’exportation de tous produits pétroliers et, plus généralement, toutes activités en lien avec le secteur pétrolier
- La promotion, la location, l’achat, la vente, l’échange, l’exploitation, la gestion, la mise en valeur, le lotissement, la construction, la transformation de tous immeubles ou parties divises ou indivises d’immeubles généralement quelconques, pour son propre compte, à l’exception des activités règlementées par l’Arrêté Royal du six septembre mil neuf cent nonante-trois protégeant le titre professionnel et l’exercice de la profession d’agent immobilier
- Accomplir toutes activités commerciales, industrielles, financières, mobilières ou immobilières se rapportant directement ou indirectement à son objet ou qui seraient de nature à en faciliter directement ou indirectement, entièrement ou partiellement la réalisation
- S’intéresser par toutes voies, dans des affaires, entreprises ou sociétés ayant un objet identique, analogue, similaire ou connexe ou qui sont de nature à favoriser le développement de son entreprise, à lui procurer des matières premières ou à faciliter l’écoulement de ses produits
Legal form clause
Other statement
Organe d'administration, distribution d'acomptes sur dividendes
Article 17. Séances – procès-verbaux
Article 18. Délibérations
Article 19. Prorogation
Article 20. Vote par correspondance
Article 21. Participation à distance
Article 22. Assemblée générale écrite
Article 24. Répartition - Réserves
Article 25. Distribution
Article 29. Election de domicile
Article 30. Compétence judiciaire
Article 31. Droit commun
2 more provisions on this in the deed
Registered office clause
Région wallonne, sièges administratifs, agences, ateliers, dépôts et succursales en Belgique et à l'étranger
Share issue rule
L’organe d’administration décide souverainement des appels de fonds complémentaires, taux légal augmenté de deux pour cent l'an
1 more provision on this in the deed
Share class
Article 8. Nature des actions
Transfer restriction
One provision in the deed
Board rule
Article 10. Organe d’administration
Article 12. Rémunération des administrateurs
Article 13. Gestion journalière
Auditor rule
Article 14. Contrôle de la société
Meeting access
Article 16. Admission à l’assemblée générale
1 more provision on this in the deed
Dissolution rule
Article 26. Dissolution
Liquidation rule
Article 27. Liquidateurs
Liquidation distribution
Article 28. Répartition de l’actif net
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
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Shareholding
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Capital and shareholders
Capital over the years
- 24-07-2026 Converted to unavailable equity · 6,197 EUR
- 24-07-2026 Converted to uncalled contributions · 12,395 EUR
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Of 1,044 companies in this sector we hold annual accounts for 350. 149 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded07-04-1995
Fiscal year end31-12
Activities, NACEBEL 2025
47559Retail sale of other household articles
46833Wholesale trade
47241Retail sale of bread and pastry (bakery outlets)
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
47789Other retail sale of new goods
E-invoicing
Not found in the Peppol register
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Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.