H-Pack
ActiveSummary
H-Pack has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-482k) and a net result of €216k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 1747 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+11
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.01 against 0.0 in 2024; short-term debt: 182.1% and cash: 1.3% of total assets), and equity is negative.
Credit check for your own amount and term
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 01
Relative position
BE, all sectors
reference
Crop and animal production, hunting and related service activities (NACE 01)
about 70% 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 2025Solvency, return and age of the figures
Solvency
-88.6%
Return on assets
39.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 1747 sector peers (2025).
NBB · sector comparisonPosition among 1747 sector peers
Solvency
better than 5%
← weakest
strongest →
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 11-06-2026, 50 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
50 d early
2024
17 d early
2023
42 d early
2022
12 d early
2021
6 d early
2020
22 d early
2019
7 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€-482k▲ 30.9%
2024 · €-698k
2018: €2.12Mhighest in 8 years
2019: €801k▼ -62.2% vs 2018
2020: €157k▼ -80.4% vs 2019
2021: €-293k▼ -287% vs 2020
2022: €-614k▼ -110% vs 2021
2023: €-873k▼ -42.2% vs 2022lowest in 8 years
2024: €-698k▲ +20.1% vs 2023
2025: €-482k▲ +30.9% vs 2024
2018 → 2025
Total assets
€545k▼ 22.3%
2024 · €701k
2018: €2.60Mhighest in 8 years
2019: €2.45M▼ -6.0% vs 2018
2020: €1.97M▼ -19.4% vs 2019
2021: €1.51M▼ -23.5% vs 2020
2022: €1.40M▼ -7.1% vs 2021
2023: €1.03M▼ -26.5% vs 2022
2024: €701k▼ -31.9% vs 2023
2025: €545k▼ -22.3% vs 2024lowest in 8 years
2018 → 2025
Net result
€216k▲ 22.8%
2024 · €176k
2018: €-1.02Mlowest in 8 years
2019: €-268k▲ +73.7% vs 2018
2020: €-624k▼ -133% vs 2019
2021: €-447k▲ +28.4% vs 2020
2022: €-322k▲ +28.0% vs 2021
2023: €-259k▲ +19.5% vs 2022
2024: €176k▲ +168% vs 2023
2025: €216k▲ +22.8% vs 2024highest in 8 years
2018 → 2025
Working capital
€-985k▲ 27.7%
2024 · €-1.36M
2018: €-790k
2019: €154k▲ +120% vs 2018
2020: €70k▼ -54.6% vs 2019
2021: €18k▼ -74.6% vs 2020
2022: €163k▲ +819% vs 2021highest in 8 years
2023: €77k▼ -52.8% vs 2022
2024: €-1.36M▼ -1866% vs 2023lowest in 8 years
2025: €-985k▲ +27.7% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-293k-€-614k▼ 110%€-873k▼ 42.2%€-698k▲ 20.1%€-482k▲ 30.9%
2021: €-293khighest in 5 years
2022: €-614k▼ -110% vs 2021
2023: €-873k▼ -42.2% vs 2022lowest in 5 years
2024: €-698k▲ +20.1% vs 2023
2025: €-482k▲ +30.9% vs 2024
Operating result€-391k-€-254k▲ 34.9%€-190k▲ 25.4%€263k€259k▼ 1.7%
2021: €-391klowest in 5 years
2022: €-254k▲ +34.9% vs 2021
2023: €-190k▲ +25.4% vs 2022
2024: €263k▲ +239% vs 2023highest in 5 years
2025: €259k▼ -1.7% vs 2024
Net result€-447k-€-322k▲ 28.0%€-259k▲ 19.5%€176k€216k▲ 22.8%
2021: €-447klowest in 5 years
2022: €-322k▲ +28.0% vs 2021
2023: €-259k▲ +19.5% vs 2022
2024: €176k▲ +168% vs 2023
2025: €216k▲ +22.8% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 2% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €545k
Fixed assets
€538k ▼ 23.0%
Current assets
€7k ▲ 151%
Key figures and ratios
EBITDA
€408k▼
2024 · €415k
Cash flow
€365k▲
2024 · €327k
Solvency
-88.6%▲
2024 · -99.6%
Current ratio
0.01▲
2024 · 0.00
Debt to equity
-2.13▼
2024 · -2.00
ROA
39.6%▲
2024 · 25.0%
Interest coverage
9.47▲
2024 · 4.73
Debt
€1.03M▼
2024 · €1.40M
Debt ≤ 1 year
€992k▼
2024 · €1.36M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 36 lines
Balance sheet
Code20242025
Assets
Total assets20/58€701k€545k▼
Fixed assets21/28€698k€538k▼
Tangible fixed assets22/27€698k€538k▼
Land and buildings22€687k€538k▼
Plant, machinery and equipment23€11k-
Current assets29/58€3k€7k▲
Cash at bank and in hand54/58€3k€7k▲
Equity and liabilities
Total equity and liabilities10/49€701k€545k▼
Equity10/15€-698k€-482k▲
Contributions10/11€2.11M€2.11M=
Reserves13€6k€6k=
Non-distributable reserves130/1€6k€6k=
Reserves not available under the articles1311€6k€6k=
Profit (loss) carried forward14€-2.81M€-2.60M▲
Amounts payable17/49€1.40M€1.03M▼
Amounts payable within one year42/48€1.36M€992k▼
Current portion of amounts payable after more than one year42€14k-
Trade debts44€44k€29k▼
Suppliers440/4€44k€29k▼
Taxes, remuneration and social security45€9k€7k▼
Taxes450/3€9k€7k▼
Other amounts payable47/48€1.30M€956k▼
Accrued charges and deferred income492/3€35k€35k▲
Income statement
Code20242025
Non-recurring operating income76A€108k€79k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€152k€149k▼
Other operating charges640/8€27k€31k▲
Non-recurring operating charges66A€11k€401▼
Gross operating margin9900€453k€439k▼
Operating profit (loss)9901€263k€259k▼
Financial charges65/66B€88k€43k▼
Recurring financial charges65€88k€43k▼
Profit (loss) for the period before taxes9903€176k€216k▲
Profit (loss) for the period9904€176k€216k▲
Profit (loss) for the period to be appropriated9905€176k€216k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-2.81M€-2.60M▲
Profit (loss) brought forward from the previous period14P€-2.99M€-2.81M▲
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €26k | €108k | €79k | ▼ 27.0% |
| Remuneration, social security and pensions62 | €348k | €218k | €149k | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €345k | €168k | €168k | €152k | €149k | ▼ 1.6% |
| Other operating charges640/8 | €26k | €26k | €27k | €27k | €31k | ▲ 16.7% |
| Non-recurring operating charges66A | - | - | - | €11k | €401 | ▼ 96.4% |
| Gross operating margin9900 | €328k | €157k | €155k | €453k | €439k | ▼ 2.9% |
| Operating profit (loss)9901 | €-391k | €-254k | €-190k | €263k | €259k | ▼ 1.7% |
| Financial income75/76B | €3k | €0 | €4k | - | - | - |
| Recurring financial income75 | €3k | €0 | €27 | - | - | - |
| Non-recurring financial income76B | - | - | €4k | - | - | - |
| Financial charges65/66B | €60k | €67k | €74k | €88k | €43k | ▼ 50.9% |
| Recurring financial charges65 | €60k | €67k | €74k | €88k | €43k | ▼ 50.9% |
| Profit (loss) for the period before taxes9903 | €-448k | €-322k | €-259k | €176k | €216k | ▲ 22.8% |
| Transfer from deferred taxes780 | €949 | €0 | - | - | - | - |
| Income taxes67/77 | €62 | €64 | €0 | - | - | - |
| Profit (loss) for the period9904 | €-447k | €-322k | €-259k | €176k | €216k | ▲ 22.8% |
| Profit (loss) for the period to be appropriated9905 | €-447k | €-322k | €-259k | €176k | €216k | ▲ 22.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.51M | €1.40M | €1.03M | €701k | €545k | ▼ 22.3% |
| Fixed assets21/28 | €1.26M | €1.09M | €919k | €698k | €538k | ▼ 23.0% |
| Tangible fixed assets22/27 | €1.26M | €1.09M | €919k | €698k | €538k | ▼ 23.0% |
| Land and buildings22 | €1.13M | €985k | €836k | €687k | €538k | ▼ 21.7% |
| Plant, machinery and equipment23 | €120k | €101k | €83k | €11k | - | - |
| Furniture and vehicles24 | €136 | €0 | - | - | - | - |
| Current assets29/58 | €253k | €314k | €110k | €3k | €7k | ▲ 151% |
| Stocks and contracts in progress3 | €149k | €159k | €0 | - | - | - |
| Stocks30/36 | €149k | €159k | €0 | - | - | - |
| Amounts receivable within one year40/41 | €99k | €149k | €50k | - | - | - |
| Trade receivables40 | €99k | €147k | €50k | - | - | - |
| Other amounts receivable41 | €0 | €2k | €0 | - | - | - |
| Cash at bank and in hand54/58 | €970 | €4k | €60k | €3k | €7k | ▲ 151% |
| Deferred charges and accrued income490/1 | €3k | €3k | €0 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.51M | €1.40M | €1.03M | €701k | €545k | ▼ 22.3% |
| Equity10/15 | €-293k | €-614k | €-873k | €-698k | €-482k | ▲ 30.9% |
| Contributions10/11 | €2.11M | €2.11M | €2.11M | €2.11M | €2.11M | = |
| Capital10 | €0 | - | - | - | - | - |
| Issued capital100 | €0 | - | - | - | - | - |
| Outside capital11 | €2.11M | €2.11M | - | - | - | - |
| Other1109/19 | €2.11M | €2.11M | - | - | - | - |
| Reserves13 | €6k | €6k | €6k | €6k | €6k | = |
| Non-distributable reserves130/1 | €6k | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | €0 | - | - | - | - | - |
| Reserves not available under the articles1311 | €6k | €6k | €6k | €6k | €6k | = |
| Profit (loss) carried forward14 | €-2.41M | €-2.73M | €-2.99M | €-2.81M | €-2.60M | ▲ 7.7% |
| Investment grants15 | €0 | - | - | - | - | - |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - |
| Deferred taxes168 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €1.80M | €2.01M | €1.90M | €1.40M | €1.03M | ▼ 26.6% |
| Amounts payable after more than one year17 | €1.54M | €1.84M | €1.83M | - | - | - |
| Financial debts170/4 | €49k | €32k | €14k | - | - | - |
| Other amounts payable178/9 | €1.49M | €1.81M | €1.82M | - | - | - |
| Amounts payable within one year42/48 | €235k | €150k | €33k | €1.36M | €992k | ▼ 27.3% |
| Current portion of amounts payable after more than one year42 | €17k | €18k | €18k | €14k | - | - |
| Financial debts43 | €10k | €0 | - | - | - | - |
| Credit institutions430/8 | €10k | €0 | - | - | - | - |
| Trade debts44 | €168k | €109k | €8k | €44k | €29k | ▼ 35.5% |
| Suppliers440/4 | €168k | €109k | €8k | €44k | €29k | ▼ 35.5% |
| Taxes, remuneration and social security45 | €39k | €24k | €7k | €9k | €7k | ▼ 17.9% |
| Taxes450/3 | €10k | €3k | €7k | €9k | €7k | ▼ 17.9% |
| Remuneration and social security454/9 | €30k | €21k | €0 | - | - | - |
| Other amounts payable47/48 | - | - | - | €1.30M | €956k | ▼ 26.3% |
| Accrued charges and deferred income492/3 | €23k | €22k | €35k | €35k | €35k | ▲ 2.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-447k | €-322k | €-259k | €176k | €216k | ▲ 22.8% |
| + Depreciation and write-downs630 | €345k | €168k | €168k | €152k | €149k | ▼ 1.6% |
| Operating cash flow (approximation) | €-102k | €-153k | €-91k | €327k | €365k | ▲ 11.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €69k | €11k | ▼ 84.0% |
| Change in cash | - | €3k | €57k | €-58k | €4k | ▲ 107% |
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
11-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €216k ▲22.8%
Net result €216k, the highest in the series.
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €176k
Net result €176k after 6 loss-making years.
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Liquidity quadruplescurrent ratio 1.52
Current ratio from 0.34 to 1.52; short-term debt falls from €1.20M to €294k.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
26-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 22 acts read
About the unread acts
We know of 22 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
22 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, Sint-Katelijne-Waver · 1 establishment unit since 2008
Ground area
35.2 ha
Building footprint
3.6 ha
Volume, LiDAR
268,002 m³
2 parcels, Flanders · tallest building 17.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
H-Pack cvba
since 20082.168.568.226
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12422D0389/00F002 | Flanders | 26.7 ha | 1 · 4,679 m² | 17.6 m · 2 fl. |
| 71352D0914/00X004 | Flanders | 8.5 ha | 1 · 3.1 ha | 9.6 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.
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Of 154 companies in sector 01630 we hold annual accounts for 62. 49 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
Founded04-01-2008
Fiscal year end31-12
Activities, NACEBEL 2025
01630Crop and animal production, hunting and related service activities
82920Office administrative, office support and other business support activities
Scores and ratios are computed by Checked and are not a credit decision.