H-Rail
ActiveThe computed 12-month bankruptcy probability of H-Rail is 1.8% (moderate). The 2024 annual accounts show equity of €556k and a net result of €37k. Equity is growing by ~5% per year across the filed fiscal years. Its solvency ranks better than 75% of 334 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
64
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability73▲+3
Solvency81▲+13
Growth52=
Track record94
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity tight (current ratio 1.24 against 1.34 in 2023; short-term debt: 38.7% and cash: 12.6% of total assets), and 43.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 42
Relative position
BE, all sectors
reference
Sector 42
higher
← fewer bankruptcies
more bankruptcies →
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 30-06-2025, 31 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
not confirmed
2024
31 d early
2023
7 d early
2022
34 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€37k▲ 149%
2023 · €15k
2022: €336k
2023: €15k
2022 → 2024
Working capital
€91k▼ 54.4%
2023 · €201k
2022: €241k
2023: €201k
2022 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202220232024Trend
Equity€504k-€519k▲ 2.9%€556k▲ 7.1%
Operating result€431k-€23k▼ 94.7%€52k▲ 130%
Net result€336k-€15k▼ 95.6%€37k▲ 149%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 130% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €990k
Fixed assets
€515k▲ 27.3%
Current assets
€474k▼ 40.6%
Equity and liabilities €990k
Equity
€556k▲ 7.1%
Debt
€434k▼ 36.5%
The debt ratio falls from 56.9% to 43.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€121k▲
2023 · €87k
Cash flow
€106k▲
2023 · €80k
Solvency
56.1%▲
2023 · 43.1%
Current ratio
1.24▼
2023 · 1.34
Quick ratio
1.24▼
2023 · 1.34
Debt / equity
0.78▼
2023 · 1.32
ROE
6.6%▲
2023 · 2.8%
ROA
3.7%▲
2023 · 1.2%
Interest coverage
34.23▲
2023 · 29.39
Debt
€434k▼
2023 · €684k
Debt ≤ 1 year
€383k▼
2023 · €597k
Debt > 1 year
€51k▼
2023 · €87k
Income taxes
€12k▲
2023 · €5k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€1.20M€990k▼
Fixed assets21/28€405k€515k▲
Tangible fixed assets22/27€122k€70k▼
Plant, machinery and equipment23€113k€64k▼
Other tangible fixed assets26€9k€6k▼
Financial fixed assets28€283k€445k▲
Current assets29/58€798k€474k▼
Amounts receivable within one year40/41€791k€349k▼
Trade receivables40€790k€334k▼
Other amounts receivable41€993€15k▲
Cash at bank and in hand54/58€4k€125k▲
Deferred charges and accrued income490/1€3k€1k▼
Equity and liabilities
Total equity and liabilities10/49€1.20M€990k▼
Equity10/15€519k€556k▲
Contributions10/11€168k€168k=
Reserves13€351k€388k▲
Distributable reserves133€351k€388k▲
Amounts payable17/49€684k€434k▼
Amounts payable after more than one year17€87k€51k▼
Financial debts170/4€87k€51k▼
Amounts payable within one year42/48€597k€383k▼
Current portion of amounts payable after more than one year42€35k€35k▲
Financial debts43-€150k
Credit institutions430/8-€150k
Trade debts44€429k€137k▼
Suppliers440/4€429k€137k▼
Taxes, remuneration and social security45€126k€59k▼
Taxes450/3€126k€59k▼
Other amounts payable47/48€8k€1k▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€65k€69k▲
Other operating charges640/8€0€1k▲
Gross operating margin9900€87k€122k▲
Operating profit (loss)9901€23k€52k▲
Financial income75/76B-€1
Recurring financial income75-€1
Financial charges65/66B€3k€4k▲
Recurring financial charges65€3k€4k▲
Profit (loss) for the period before taxes9903€20k€48k▲
Income taxes67/77€5k€12k▲
Profit (loss) for the period9904€15k€37k▲
Profit (loss) for the period to be appropriated9905€15k€37k▲
Appropriation of the result
Profit (loss) to be appropriated9906€15k€37k▲
Transfer to equity691/2€15k€37k▲
To other reserves6921€15k€37k▲
Social balance
Average headcount (FTE)90870.00.0=
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet €15k ▼95.6%
Net result drops to €15k, the lowest in the series; recovery starts the following year.
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Nivelles · 1 establishment unit since 2022
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Avenue de Burlet 69A1400 NivellesGround area
273 m²
Building footprint
74 m²
Volume, LiDAR
960 m³
Parcel 25782C0124/00S012, Wallonia · tallest building 14.4 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
H-Rail
since 20222.326.421.274
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25782C0124/00S012 | Wallonia | 273 m² | 1 · 74 m² | 14.4 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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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BE 0811.214.463
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BE 0828.017.734
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VABO SPOORBOUW
BE 0830.670.188
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SIMA RAIL & BUILD
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Zaventem · Eq €429k
Of 169 companies in sector 42120 we hold annual accounts for 68. 40 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded21-12-2021
Fiscal year end31-12
Activities, NACEBEL
42120Civil engineering
42130Civil engineering
Sources
Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.