H.IT
ActiveSummary
H.IT has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€209,958) and a net result of -€192. Equity is shrinking by ~20.6% per year across the filed fiscal years. Its solvency ranks better than 7% of 812 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▲+32
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.26 against 0.18 in 2024; short-term debt: 142.3% and cash: 34.6% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+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 10
Relative position
BE, all sectors
reference
Manufacture of food products (NACE 10)
about 60% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
-50.6%
Return on assets
0%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€209,958
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 13-05-2026, 79 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
79 d early
2024
28 d early
2023
27 d early
2022
32 d early
2021
52 d early
2020
15 d early
2019
92 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 46 days before the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% 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 29 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
-€209,958▼ 0.1%
2024 · -€209,766
Total assets
€414,734▼ 2.3%
2024 · €424,604
Net result
-€192▲ 99.5%
2024 · -€38,158
Working capital
-€434,397▲ 7.8%
2024 · -€470,994
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 10, Manufacture of food products, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€12,761-€32,805▼ 157%-€36,197▼ 10.3%-€21,611▲ 40.3%€10,140
Net result-€13,807below the sector's middle half-€33,889below the sector's middle half▼ 145%-€44,652below the sector's middle half▼ 31.8%-€38,158below the sector's middle half▲ 14.5%-€192below the sector's middle half▲ 99.5%
Equity-€93,068below the sector's middle half▼ 17.4%-€126,956below the sector's middle half▼ 36.4%-€171,609below the sector's middle half▼ 35.2%-€209,766below the sector's middle half▼ 22.2%-€209,958below the sector's middle half▼ 0.1%
Total assets€195,738below the sector's middle half▼ 16.4%€151,668below the sector's middle half▼ 22.5%€482,910below the sector's middle half▲ 218%€424,604below the sector's middle half▼ 12.1%€414,734within the sector's middle half▼ 2.3%
Debt€288,806▼ 7.8%€278,624▼ 3.5%€654,519▲ 135%€634,371▼ 3.1%€624,692▼ 1.5%
Working capital-€195,469below the sector's middle half▼ 13.0%-€198,748below the sector's middle half▼ 1.7%-€475,495below the sector's middle half▼ 139%-€470,994below the sector's middle half▲ 0.9%-€434,397below the sector's middle half▲ 7.8%
Solvency-47.5%below the sector's middle half▼ 13.7pp-83.7%below the sector's middle half▼ 36.2pp-35.5%below the sector's middle half▲ 48.2pp-49.4%below the sector's middle half▼ 13.9pp-50.6%below the sector's middle half▼ 1.2pp
Current ratio0.28below the sector's middle half▼ 0.040.23below the sector's middle half▼ 0.040.17below the sector's middle half▼ 0.070.18below the sector's middle half▲ 0.010.26below the sector's middle half▲ 0.08
Return on assets (ROA)-7.1%below the sector's middle half▼ 11.3pp-22.3%below the sector's middle half▼ 15.3pp-9.2%below the sector's middle half▲ 13.1pp-9.0%below the sector's middle half▲ 0.3pp0.0%below the sector's middle half▲ 8.9pp
Staff (FTE)0.2below the sector's middle half▼ 87.5%1.7below the sector's middle half1.9below the sector's middle half▲ 11.8%2.4below the sector's middle half▲ 26.3%
above
within
below
the middle half (P25 to P75) of NACE 10, Manufacture of food products, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €10,140 after a loss of €21,611 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €414,734
Fixed assets
€258,967 ▼ 19.4%
Current assets
€155,767 ▲ 50.6%
Key figures and ratios
EBITDA
€75,107▲
2024 · €57,930
Cash flow
€64,775▲
2024 · €41,384
Quick ratio
0.25▲
2024 · 0.17
Debt to equity
-2.98▲
2024 · -3.02
Interest coverage
7.27▲
2024 · 3.50
Debt ≤ 1 year
€590,164▲
2024 · €574,450
Debt > 1 year
€34,528▼
2024 · €59,172
Staff costs
€91,510▲
2024 · €72,790
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,564 companies that looked in July 2024 the way this one looks now, 5.1% went bankrupt within 24 months and 89% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a small loss
5.1%
went bankrupt
5.4%
stopped otherwise
89%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.4% 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 497,340 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 1,564 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €8,456 | €351 | €55,952 | €72,790 | €91,510 | ▲ 25.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €31,701 | €30,610 | €60,276 | €79,541 | €64,967 | ▼ 18.3% |
| Other operating charges640/8 | €897 | €520 | €585 | €4,716 | €2,954 | ▼ 37.4% |
| Non-recurring operating charges66A | - | - | - | €12,731 | €0 | ▼ 100% |
| Gross operating margin9900 | €28,292 | -€1,324 | €80,616 | €148,168 | €169,570 | ▲ 14.4% |
| Operating profit (loss)9901 | -€12,761 | -€32,805 | -€36,197 | -€21,611 | €10,140 | ▲ 147% |
| Financial income75/76B | €0 | €0 | - | €0 | €0 | ▼ 79.5% |
| Recurring financial income75 | €0 | €0 | - | €0 | €0 | ▼ 79.5% |
| Financial charges65/66B | €1,045 | €1,084 | €8,455 | €16,547 | €10,331 | ▼ 37.6% |
| Recurring financial charges65 | €1,045 | €1,084 | €8,455 | €16,547 | €10,331 | ▼ 37.6% |
| Profit (loss) for the period before taxes9903 | -€13,807 | -€33,889 | -€44,652 | -€38,158 | -€192 | ▲ 99.5% |
| Profit (loss) for the period9904 | -€13,807 | -€33,889 | -€44,652 | -€38,158 | -€192 | ▲ 99.5% |
| Profit (loss) for the period to be appropriated9905 | -€13,807 | -€33,889 | -€44,652 | -€38,158 | -€192 | ▲ 99.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €195,738 | €151,668 | €482,910 | €424,604 | €414,734 | ▼ 2.3% |
| Fixed assets21/28 | €121,353 | €90,743 | €386,884 | €321,148 | €258,967 | ▼ 19.4% |
| Intangible fixed assets21 | - | - | €7,364 | €6,984 | €6,605 | ▼ 5.4% |
| Tangible fixed assets22/27 | €121,353 | €90,743 | €379,521 | €314,164 | €252,361 | ▼ 19.7% |
| Land and buildings22 | - | - | €102,245 | €102,294 | €91,417 | ▼ 10.6% |
| Plant, machinery and equipment23 | €76,141 | €53,268 | €239,962 | €182,214 | €140,015 | ▼ 23.2% |
| Furniture and vehicles24 | €997 | €247 | €0 | - | - | - |
| Other tangible fixed assets26 | €44,215 | €37,229 | €37,313 | €29,657 | €20,929 | ▼ 29.4% |
| Current assets29/58 | €74,385 | €60,925 | €96,026 | €103,456 | €155,767 | ▲ 50.6% |
| Stocks and contracts in progress3 | €0 | - | €5,415 | €4,600 | €7,342 | ▲ 59.6% |
| Stocks30/36 | €0 | - | €5,415 | €4,600 | €7,342 | ▲ 59.6% |
| Amounts receivable within one year40/41 | €72,694 | €51,715 | €44,275 | €3,104 | €253 | ▼ 91.9% |
| Trade receivables40 | €72,193 | €45,530 | €44,275 | €3,104 | €253 | ▼ 91.9% |
| Other amounts receivable41 | €501 | €6,185 | €0 | - | - | - |
| Cash at bank and in hand54/58 | €1,606 | €9,210 | €40,994 | €95,752 | €143,503 | ▲ 49.9% |
| Deferred charges and accrued income490/1 | €86 | €0 | €5,342 | €0 | €4,669 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €195,738 | €151,668 | €482,910 | €424,604 | €414,734 | ▼ 2.3% |
| Equity10/15 | -€93,068 | -€126,956 | -€171,609 | -€209,766 | -€209,958 | ▼ 0.1% |
| Contributions10/11 | €30,000 | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Profit (loss) carried forward14 | -€123,068 | -€156,956 | -€201,609 | -€239,766 | -€239,958 | ▼ 0.1% |
| Amounts payable17/49 | €288,806 | €278,624 | €654,519 | €634,371 | €624,692 | ▼ 1.5% |
| Amounts payable after more than one year17 | €18,951 | €18,951 | €82,793 | €59,172 | €34,528 | ▼ 41.6% |
| Financial debts170/4 | €18,951 | €18,951 | €82,793 | €59,172 | €34,528 | ▼ 41.6% |
| Amounts payable within one year42/48 | €269,855 | €259,673 | €571,520 | €574,450 | €590,164 | ▲ 2.7% |
| Current portion of amounts payable after more than one year42 | €40,373 | €20,352 | €41,590 | €23,620 | €24,644 | ▲ 4.3% |
| Trade debts44 | €0 | €414 | €17,152 | €29,082 | €30,682 | ▲ 5.5% |
| Suppliers440/4 | €0 | €414 | €17,152 | €29,082 | €30,682 | ▲ 5.5% |
| Taxes, remuneration and social security45 | €9,218 | €3,117 | €6,296 | €7,097 | €8,558 | ▲ 20.6% |
| Taxes450/3 | €6,150 | €48 | €0 | - | - | - |
| Remuneration and social security454/9 | €3,069 | €3,069 | €6,296 | €7,097 | €8,558 | ▲ 20.6% |
| Other amounts payable47/48 | €220,264 | €235,790 | €506,482 | €514,650 | €526,279 | ▲ 2.3% |
| Accrued charges and deferred income492/3 | - | - | €206 | €749 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€13,807 | -€33,889 | -€44,652 | -€38,158 | -€192 | ▲ 99.5% |
| + Depreciation and write-downs630 | €31,701 | €30,610 | €60,276 | €79,541 | €64,967 | ▼ 18.3% |
| Operating cash flow (approximation) | €17,894 | -€3,279 | €15,624 | €41,384 | €64,775 | ▲ 56.5% |
| Investment in fixed assets (approximation) | - | €0 | -€356,417 | -€13,805 | -€2,785 | ▲ 79.8% |
| Change in cash | - | €7,604 | €31,784 | €54,758 | €47,751 | ▼ 12.8% |
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
13-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
09-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €9,903
Net result €9,903 after one loss-making year.
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
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, Brugge · 1 establishment unit since 2023
Ground area
483 m²
Building footprint
445 m²
Volume, LiDAR
3,551 m³
2 parcels, Flanders · tallest building 13.7 m, ±3 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
Chez Albert Katelijnestraat
since 20232.345.285.497
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31803C1090/00Y000 | Flanders | 331 m² | 1 · 265 m² | 13.7 m · 3 fl. |
| 31802B1201/00C000 | Flanders | 152 m² | 1 · 180 m² | 13.2 m · 3 fl. |
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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Structure & network
Owners and holdings
1 ownerChain of control
Highest known parent: The Waffle Concept Company. The sources do not say who stands above it.
Owners 1
-
100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Food safety, FASFC
1 siteBrugge2.345.285.497
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Of 4,230 companies in sector 10712 we hold annual accounts for 1,875. 487 are within a factor 10 of this headcount. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded17-05-2018
Fiscal year end31-12
Activities, NACEBEL 2025
10712Artisanal bread and fresh pastry making
56112Limited-service restaurants, excluding mobile food services
Contact
E-mail
bert@thewaffle.cc
E-invoicing
Reachable via Peppol
Peppol ID
0208:0696594810
Also
9925:BE0696594810
Registered
31-10-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.