H-FIVE
ActiveSummary
H-FIVE has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €23,965 and a net result of €20,453. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 51% of 4610 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100=
Solvency75▲+35
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity ample (current ratio 1.88 against 1.12 in 2023; short-term debt: 50.2% and cash: 37.6% of total assets), but 50.2% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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 2024Solvency, return and age of the figures
Solvency
49.8%
Return on assets
42.5%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 06-06-2025, 55 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
55 d early
2023
33 d early
2022
42 d early
2021
31 d early
2020
12 d early
2019
1 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 29 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€20,453▲ 95.0%
2023 · €10,487
Working capital
€21,341▲ 776%
2023 · €2,436
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€3,642€13,126€369▼ 97.2%€13,152▲ 3,469%€29,187▲ 122%
Net result-€3,920€10,821-€635€10,487€20,453▲ 95.0%
Equity-€17,160▼ 29.6%-€6,339▲ 63.1%-€6,975▼ 10.0%€3,512€23,965▲ 582%
Total assets€8,693▼ 59.9%€23,059▲ 165%€13,767▼ 40.3%€23,039▲ 67.4%€48,106▲ 109%
Debt€25,853▼ 26.0%€29,398▲ 13.7%€20,742▼ 29.4%€19,527▼ 5.9%€24,140▲ 23.6%
Working capital-€17,554▼ 32.6%-€7,659▲ 56.4%-€7,671▼ 0.2%€2,436€21,341▲ 776%
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 122% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €48,106
Fixed assets
€2,624 ▲ 144%
Current assets
€45,481 ▲ 107%
Equity and liabilities €48,106
Equity
€23,965 ▲ 582%
Debt
€24,140 ▲ 23.6%
Debt's share of the balance-sheet total falls from 84.8% to 50.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€29,853▲
2023 · €14,175
Cash flow
€21,119▲
2023 · €11,511
Current ratio
1.88▲
2023 · 1.12
Debt to equity
1.01▼
2023 · 5.56
ROE
85.3%▼
2023 · 298.6%
ROA
42.5%▼
2023 · 45.5%
Interest coverage
124.39▼
2023 · 148.87
Debt ≤ 1 year
€24,140▲
2023 · €19,527
Income taxes
€8,494▲
2023 · €2,570
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 34,672 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 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €1,092 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €68 | €483 | €624 | €1,024 | €666 | ▼ 34.9% |
| Other operating charges640/8 | - | €640 | €900 | €496 | €387 | ▼ 21.9% |
| Gross operating margin9900 | -€2,792 | €14,249 | €1,892 | €14,671 | €30,240 | ▲ 106% |
| Operating profit (loss)9901 | -€3,642 | €13,126 | €369 | €13,152 | €29,187 | ▲ 122% |
| Recurring financial income75 | €0 | - | - | - | - | - |
| Financial charges65/66B | - | €83 | €84 | €95 | €240 | ▲ 152% |
| Recurring financial charges65 | €68 | €83 | €84 | €95 | €240 | ▲ 152% |
| Profit (loss) for the period before taxes9903 | -€3,710 | €13,042 | €285 | €13,056 | €28,947 | ▲ 122% |
| Income taxes67/77 | €211 | €2,222 | €920 | €2,570 | €8,494 | ▲ 231% |
| Profit (loss) for the period9904 | -€3,920 | €10,821 | -€635 | €10,487 | €20,453 | ▲ 95.0% |
| Profit (loss) for the period to be appropriated9905 | -€3,920 | €10,821 | -€635 | €10,487 | €20,453 | ▲ 95.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €8,693 | €23,059 | €13,767 | €23,039 | €48,106 | ▲ 109% |
| Fixed assets21/28 | €394 | €1,319 | €696 | €1,077 | €2,624 | ▲ 144% |
| Tangible fixed assets22/27 | €394 | €1,319 | €696 | €1,077 | €2,624 | ▲ 144% |
| Furniture and vehicles24 | - | €1,319 | €696 | €1,077 | €2,624 | ▲ 144% |
| Current assets29/58 | €8,299 | €21,740 | €13,071 | €21,963 | €45,481 | ▲ 107% |
| Amounts receivable within one year40/41 | €141 | €262 | €63 | €9,746 | €27,371 | ▲ 181% |
| Trade receivables40 | - | €262 | €63 | €9,063 | €27,371 | ▲ 202% |
| Other amounts receivable41 | - | - | - | €683 | - | - |
| Cash at bank and in hand54/58 | €7,696 | €20,811 | €12,001 | €12,217 | €18,111 | ▲ 48.2% |
| Deferred charges and accrued income490/1 | - | €667 | €1,007 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €8,693 | €23,059 | €13,767 | €23,039 | €48,106 | ▲ 109% |
| Equity10/15 | -€17,160 | -€6,339 | -€6,975 | €3,512 | €23,965 | ▲ 582% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €1,479 | €1,479 | €1,479 | €1,479 | €11,565 | ▲ 682% |
| Non-distributable reserves130/1 | - | €1,479 | €1,479 | €1,479 | €1,479 | = |
| Reserves not available under the articles1311 | - | €1,479 | €1,479 | €1,479 | €1,479 | = |
| Distributable reserves133 | - | - | - | - | €10,087 | - |
| Profit (loss) carried forward14 | -€31,039 | -€20,218 | -€20,853 | -€10,366 | - | - |
| Amounts payable17/49 | €25,853 | €29,398 | €20,742 | €19,527 | €24,140 | ▲ 23.6% |
| Amounts payable within one year42/48 | €25,853 | €29,398 | €20,742 | €19,527 | €24,140 | ▲ 23.6% |
| Trade debts44 | €610 | €1,004 | €238 | €330 | €245 | ▼ 25.8% |
| Suppliers440/4 | - | €1,004 | €238 | €330 | €245 | ▼ 25.8% |
| Advances received on contracts in progress46 | - | - | €90 | - | - | - |
| Taxes, remuneration and social security45 | - | €4,338 | €4,837 | €4,505 | €10,351 | ▲ 130% |
| Taxes450/3 | - | €4,338 | €4,837 | €4,505 | €10,351 | ▲ 130% |
| Other amounts payable47/48 | - | €24,056 | €15,577 | €14,692 | €13,544 | ▼ 7.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,920 | €10,821 | -€635 | €10,487 | €20,453 | ▲ 95.0% |
| + Depreciation and write-downs630 | €68 | €483 | €624 | €1,024 | €666 | ▼ 34.9% |
| Operating cash flow (approximation) | -€3,852 | €11,304 | -€12 | €11,511 | €21,119 | ▲ 83.5% |
| Investment in fixed assets (approximation) | - | -€1,409 | €0 | -€1,404 | -€2,214 | ▼ 57.7% |
| Change in cash | - | €13,115 | -€8,810 | €216 | €5,893 | ▲ 2,624% |
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
2025
06-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €20,453 ▲95%
Operating result €29,187, net result €20,453, both a record.
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €10,487
Net result €10,487 after one loss-making year.
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €10,821
Net result €10,821 after one loss-making year.
19-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet -€3,920
Net result drops to -€3,920, the lowest in the series; recovery starts the following year.
30-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
27-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
23-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Vorst · 1 establishment unit since 2011
Ground area
368 m²
Building footprint
105 m²
Volume, LiDAR
1,016 m³
Parcel 21384D0208/02N000, Brussels · tallest building 13.4 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
H-FIVE
since 20112.201.151.813
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21384D0208/02N000 | Brussels | 368 m² | 1 · 105 m² | 13.3 m · 4 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 82,642 companies in sector 70200 we hold annual accounts for 52,590. 32,493 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
Founded28-01-2011
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0833241282
Also
9925:BE0833241282
Registered
18-07-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.