H & N
ActiveSummary
H & N has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €114,516 and a net result of -€44,282. Equity is growing by ~7.7% per year across the filed fiscal years. Its solvency ranks better than 34% of 18973 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability18▼-31
Solvency40▼-7
Growth52=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days only on tighter terms
Liquidity tight (current ratio 1.05 against 1.22 in 2024; short-term debt: 66% and cash: 7.1% of total assets), and 85.2% of the assets are financed with debt.
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Signals
Four 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% 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
14.8%
Return on assets
-5.7%
Age of the figures
20 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
192021222425
2019 to 2025 · latest year -€44,282
neutral · Filed after the deadline
The financial year that closed on 31-01-2025 was due by 31-08-2025 and was filed on 22-11-2025, 83 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 · 7 filingsDeviation from the deadline
2026
not confirmed
2025
83 d late
2024
61 d late
2022
33 d late
2021
58 d late
2020
74 d late
2019
27 d late
← 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 56 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2025, micro schema
Equity
€114,516▼ 33.0%
2024 · €170,925
Total assets
€774,569▼ 2.4%
2024 · €793,495
Net result
-€44,282▼ 1,711%
2024 · -€2,445
Working capital
€27,000▼ 70.0%
2024 · €90,023
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
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), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220242025
Operating result€39,655▲ 83.5%€137,568▲ 247%-€7,225€32,964--€47,613
Net result€26,872within the sector's middle half▲ 70.0%€103,916within the sector's middle half▲ 287%-€7,812below the sector's middle half-€2,445within the sector's middle half--€44,282below the sector's middle half▼ 1,711%
Equity€100,139within the sector's middle half▲ 36.7%€204,055within the sector's middle half▲ 104%€196,243above the sector's middle half▼ 3.8%€170,925above the sector's middle half-€114,516within the sector's middle half▼ 33.0%
Total assets€264,543below the sector's middle half▼ 2.4%€246,705below the sector's middle half▼ 6.7%€559,635above the sector's middle half▲ 127%€793,495above the sector's middle half-€774,569above the sector's middle half▼ 2.4%
Debt€164,404▼ 16.8%€21,427▼ 87.0%€342,169▲ 1,497%€607,410-€647,925▲ 6.7%
Working capital€69,434within the sector's middle half▲ 67.9%€218,504within the sector's middle half▲ 215%-€111,788below the sector's middle half€90,023above the sector's middle half-€27,000within the sector's middle half▼ 70.0%
Solvency37.9%within the sector's middle half▲ 10.8pp82.7%above the sector's middle half▲ 44.9pp35.1%within the sector's middle half▼ 47.6pp21.5%within the sector's middle half-14.8%within the sector's middle half▼ 6.8pp
Current ratio1.44within the sector's middle half▲ 0.2111.31above the sector's middle half▲ 9.870.67below the sector's middle half▼ 10.641.22within the sector's middle half-1.05within the sector's middle half▼ 0.16
Return on assets (ROA)10.2%within the sector's middle half▲ 4.3pp42.1%above the sector's middle half▲ 32.0pp-1.4%within the sector's middle half▼ 43.5pp-0.3%within the sector's middle half--5.7%below the sector's middle half▼ 5.4pp
Staff (FTE)3within the sector's middle half▲ 50.0%2.5within the sector's middle half▼ 16.7%7.4-7.4=
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 turns negative in 2025: a loss of €47,613 after €32,964 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €774,569
Fixed assets
€236,358 ▼ 17.9%
Current assets
€538,210 ▲ 6.5%
Equity and liabilities €774,569
Equity
€114,516 ▼ 33.0%
Provisions
€12,127 ▼ 20.0%
Debt
€647,925 ▲ 6.7%
Debt's share of the balance-sheet total rises from 76.5% to 83.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€10,692▼
2024 · €88,324
Cash flow
€14,024▼
2024 · €52,915
Quick ratio
0.43▼
2024 · 0.52
Debt to equity
5.66▲
2024 · 3.55
ROE
-38.7%▼
2024 · -1.4%
Interest coverage
0.79▼
2024 · 3.63
Debt ≤ 1 year
€511,210▲
2024 · €415,428
Debt > 1 year
€136,715▼
2024 · €191,982
Staff costs
€237,069▲
2024 · €193,350
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,165 companies that looked in July 2024 the way this one looks now, 2.6% went bankrupt within 24 months and 94% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a small loss
2.6%
went bankrupt
3.0%
stopped otherwise
94%
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 1.1% 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 2,165 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 | - | - | - | €8,274 | - | - |
| Remuneration, social security and pensions62 | - | - | €56 | €193,350 | €237,069 | ▲ 22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,732 | €16,196 | - | €55,361 | €58,305 | ▲ 5.3% |
| Other operating charges640/8 | - | - | €1,429 | €5,708 | €3,955 | ▼ 30.7% |
| Gross operating margin9900 | €146,848 | €201,158 | -€5,739 | €287,382 | €251,716 | ▼ 12.4% |
| Operating profit (loss)9901 | €39,655 | €137,568 | -€7,225 | €32,964 | -€47,613 | ▼ 244% |
| Financial income75/76B | - | - | €1 | €4,671 | €1,641 | ▼ 64.9% |
| Recurring financial income75 | €8 | - | €1 | €4,671 | €1,641 | ▼ 64.9% |
| Financial charges65/66B | - | - | €606 | €43,112 | €13,469 | ▼ 68.8% |
| Recurring financial charges65 | €3,241 | €2,212 | €606 | €24,355 | €13,469 | ▼ 44.7% |
| Non-recurring financial charges66B | - | - | - | €18,757 | - | - |
| Profit (loss) for the period before taxes9903 | €36,422 | €135,356 | -€7,830 | -€5,477 | -€59,441 | ▼ 985% |
| Transfer from deferred taxes780 | - | - | - | €3,032 | €15,159 | ▲ 400% |
| Income taxes67/77 | €9,550 | €10,217 | -€18 | - | - | - |
| Profit (loss) for the period9904 | €26,872 | €103,916 | -€7,812 | -€2,445 | -€44,282 | ▼ 1,711% |
| Transfer from tax-exempt reserves789 | - | - | - | €12,127 | - | - |
| Profit (loss) for the period to be appropriated9905 | €26,872 | €19,025 | -€7,812 | €9,682 | -€44,282 | ▼ 557% |
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €264,543 | €246,705 | €559,635 | €793,495 | €774,569 | ▼ 2.4% |
| Fixed assets21/28 | €36,593 | €7,011 | €330,000 | €288,044 | €236,358 | ▼ 17.9% |
| Tangible fixed assets22/27 | €36,593 | €7,011 | €330,000 | €288,044 | €236,358 | ▼ 17.9% |
| Plant, machinery and equipment23 | - | - | €330,000 | €276,202 | €226,727 | ▼ 17.9% |
| Other tangible fixed assets26 | - | - | - | €11,842 | €9,631 | ▼ 18.7% |
| Current assets29/58 | €227,950 | €239,693 | €229,635 | €505,450 | €538,210 | ▲ 6.5% |
| Stocks and contracts in progress3 | €56,149 | - | - | €289,654 | €320,028 | ▲ 10.5% |
| Stocks30/36 | - | - | - | €289,654 | €320,028 | ▲ 10.5% |
| Amounts receivable within one year40/41 | €55,492 | €72,918 | €23,114 | €105,861 | €143,695 | ▲ 35.7% |
| Trade receivables40 | - | - | €133 | €90,795 | €93,636 | ▲ 3.1% |
| Other amounts receivable41 | - | - | €22,981 | €15,066 | €50,060 | ▲ 232% |
| Cash at bank and in hand54/58 | €109,403 | €166,743 | €206,448 | €75,667 | €54,834 | ▼ 27.5% |
| Deferred charges and accrued income490/1 | - | - | €73 | €34,269 | €19,653 | ▼ 42.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €264,543 | €246,705 | €559,635 | €793,495 | €774,569 | ▼ 2.4% |
| Equity10/15 | €100,139 | €204,055 | €196,243 | €170,925 | €114,516 | ▼ 33.0% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | €18,600 | - | - | - |
| Issued capital100 | - | - | €18,600 | - | - | - |
| Outside capital11 | - | - | - | €18,600 | €18,600 | = |
| Other1109/19 | - | - | - | €18,600 | €18,600 | = |
| Reserves13 | €20,610 | €105,501 | €105,501 | €81,247 | €69,119 | ▼ 14.9% |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | - | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | - | €103,641 | €79,387 | €67,259 | ▼ 15.3% |
| Profit (loss) carried forward14 | €60,929 | €79,954 | €72,142 | €71,079 | €26,797 | ▼ 62.3% |
| Provisions and deferred taxes16 | - | €21,223 | €21,223 | €15,159 | €12,127 | ▼ 20.0% |
| Deferred taxes168 | - | - | €21,223 | €15,159 | €12,127 | ▼ 20.0% |
| Amounts payable17/49 | €164,404 | €21,427 | €342,169 | €607,410 | €647,925 | ▲ 6.7% |
| Amounts payable after more than one year17 | €4,908 | - | - | €191,982 | €136,715 | ▼ 28.8% |
| Financial debts170/4 | - | - | - | €191,982 | €136,715 | ▼ 28.8% |
| Amounts payable within one year42/48 | €158,516 | €21,190 | €341,423 | €415,428 | €511,210 | ▲ 23.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €54,520 | €55,268 | ▲ 1.4% |
| Trade debts44 | €106,775 | €12,087 | €340,934 | €272,156 | €367,521 | ▲ 35.0% |
| Suppliers440/4 | - | - | €340,934 | €272,156 | €367,521 | ▲ 35.0% |
| Taxes, remuneration and social security45 | - | - | - | €23,652 | €19,801 | ▼ 16.3% |
| Remuneration and social security454/9 | - | - | - | €23,652 | €19,801 | ▼ 16.3% |
| Other amounts payable47/48 | - | - | €490 | €65,099 | €68,621 | ▲ 5.4% |
| Accrued charges and deferred income492/3 | - | - | €746 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €26,872 | €103,916 | -€7,812 | -€2,445 | -€44,282 | ▼ 1,711% |
| + Depreciation and write-downs630 | €16,732 | €16,196 | - | €55,361 | €58,305 | ▲ 5.3% |
| Operating cash flow (approximation) | €43,604 | €120,112 | -€7,812 | €52,915 | €14,024 | ▼ 73.5% |
| Investment in fixed assets (approximation) | - | €13,386 | -€322,989 | - | -€6,620 | - |
| Change in cash | - | €57,340 | €39,705 | - | -€20,832 | - |
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
22-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 83 days late
31-01
Financial
Weakest financial yearnet -€44,282
Net result drops to -€44,282, the lowest in the series.
2024
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2022
03-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 33 days late
2021
28-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 58 days late
31-01
Financial
Highest result since 2019net €103,916 ▲287%
Operating result €137,568, net result €103,916, both a record.
31-01
Financial
Liquidity times 8current ratio 11.31
Current ratio from 1.44 to 11.31; short-term debt falls from €158,516 to €21,190.
31-01
Financial
Equity above €200,000Eq €204,055 ▲104%
3 profitable years in a row build equity to €204,055.
2020
13-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 74 days late
31-01
Financial
Equity above €100,000Eq €100,139 ▲36.7%
2 profitable years in a row build equity to €100,139.
2019
27-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 27 days late
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 26 days late
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
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Schoten · 1 establishment unit since 2016
Ground area
2,350 m²
Building footprint
748 m²
Volume, LiDAR
3,100 m³
Parcel 11443C0706/00S003, Flanders · tallest building 6.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
H & N
since 20162.251.596.464
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11443C0706/00S003 | Flanders | 2,350 m² | 1 · 748 m² | 6.2 m · 1 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteSchoten2.251.596.464
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Of 10,504 companies in this sector we hold annual accounts for 5,855. 4,584 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
Founded25-02-2016
Fiscal year end31-01
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
Contact
E-mail
hadi_ghorbanzadeh@hotmail.com
Phone
0485800301
E-invoicing
Reachable via Peppol
Peppol ID
0208:0649400152
Also
9925:BE0649400152
Registered
24-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.