H-SB
ActiveSummary
The computed 12-month bankruptcy probability of H-SB is 1.7% (moderate). The 2025 annual accounts show equity of €1.1m and a net result of €90,158. Equity is growing by ~19.5% per year across the filed fiscal years. Its solvency ranks better than 74% of 8061 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Overview
What they do
Other specialised construction activities
NACE 43990NACE 43999
#8 company by total assets in Tienen, Construction sector1 site
How big
€1.7mtotal assets 2025
- Staff
- 1 FTE
- Equity
- €1.1m
- Profit
- €90,158
Turnover not published (abridged schema)
Who decides
Accounts 22 d early0 of 3 deeds read
Why 67- Limited track record- Higher-failure-rate sector+ Annual accounts: healthy financial profileLatest accounts filed on timeShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability75▼-3
Solvency90=
Growth52=
Track record94
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €70,000 at 30 days acceptable
Liquidity tight (current ratio 1.09 against 0.74 in 2024; short-term debt: 19% and cash: 4% of total assets), and 34.9% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
65.1%
Return on assets
5.4%
Age of the figures
9 mo
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 09-07-2026, 22 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
22 d early
2024
1 d early
2023
20 d early
2022
4 d early
2021
39 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 17 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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 12 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · abbreviated…
- Weakest financial yearnet €90,158 ▼17.5%
- Equity above €1mEq €1.1m ▲9%
Financials
Fiscal year 2025Total assets €1.7mProfit €90,158Solvency 65.1%Liquidity 1.09
Total assets
€1.7m▲ 8.5%
2021 - 2025
Net result
€90,158▼ 17.5%
2021 - 2025
Equity
€1.1m▲ 9.0%
2021 - 2025
Staff (FTE)
1▼ 47.4%
2021 - 2025
Financials · fiscal year 2025, abbreviated schema
In the rankings
#8 company by total assets in Tienen, Construction sector#8 company by equity in Tienen, Construction sector
Trend over the years
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 43, Specialised construction activities, 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
Line20212022202320242025
Operating result€0.3m-€0.3m▲ 1.1%€0.4m▲ 39.8%€0.2m▼ 54.7%€0.1m▼ 21.8%
Net result€0.2mabove the sector's middle half-€0.2mabove the sector's middle half▼ 15.3%€0.3mabove the sector's middle half▲ 29.7%€0.1mwithin the sector's middle half▼ 57.5%€0.09mwithin the sector's middle half▼ 17.5%
Equity€0.4mwithin the sector's middle half-€0.6mwithin the sector's middle half▲ 45.6%€0.9mabove the sector's middle half▲ 40.6%€1.0mabove the sector's middle half▲ 12.3%€1.1mabove the sector's middle half▲ 9.0%
Total assets€1.1mwithin the sector's middle half-€1.4mwithin the sector's middle half▲ 27.3%€1.5mwithin the sector's middle half▲ 10.4%€1.5mwithin the sector's middle half▲ 2.6%€1.7mabove the sector's middle half▲ 8.5%
Debt€0.6m-€0.7m▲ 14.8%€0.6m▼ 15.9%€0.5m▼ 11.3%€0.6m▲ 7.5%
Working capital-€0.1mbelow the sector's middle half--€0.1mbelow the sector's middle half▲ 13.3%-€0.1mbelow the sector's middle half▼ 7.4%-€0.1mbelow the sector's middle half▲ 23.0%€0.03mwithin the sector's middle half
Solvency40.6%within the sector's middle half-46.5%within the sector's middle half▲ 5.8pp59.2%within the sector's middle half▲ 12.7pp64.8%within the sector's middle half▲ 5.6pp65.1%within the sector's middle half▲ 0.3pp
Current ratio0.60below the sector's middle half-0.73below the sector's middle half▲ 0.130.69below the sector's middle half▼ 0.040.74below the sector's middle half▲ 0.051.09below the sector's middle half▲ 0.35
Return on assets (ROA)21.9%above the sector's middle half-14.6%above the sector's middle half▼ 7.3pp17.1%above the sector's middle half▲ 2.5pp7.1%within the sector's middle half▼ 10.0pp5.4%within the sector's middle half▼ 1.7pp
Staff (FTE)0.7below the sector's middle half-1below the sector's middle half▲ 42.9%1below the sector's middle half=1.9below the sector's middle half▲ 90.0%1below the sector's middle half▼ 47.4%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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 and balance sheet
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 22% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.7m
Fixed assets
€1.3m ▲ 5.0%
Current assets
€345,776 ▲ 24.3%
Equity and liabilities €1.7m
Equity
€1.1m ▲ 9.0%
Debt
€584,090 ▲ 7.5%
Debt's share of the balance-sheet total falls from 35.2% to 34.9%. Equity and debt are higher.
Key figures and ratios
Key figures and ratios
EBITDA
€426,794▼
2024 · €429,943
Cash flow
€391,365▲
2024 · €378,639
Debt to equity
0.54▼
2024 · 0.54
ROE
8.3%▼
2024 · 10.9%
Interest coverage
14.42▼
2024 · 15.13
Debt ≤ 1 year
€317,839▼
2024 · €376,933
Debt > 1 year
€266,251▲
2024 · €166,196
Income taxes
€20,526▼
2024 · €29,115
Staff costs
€69,784▼
2024 · €108,514
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,975 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.7% 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 26,975 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.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €3,500 | - |
| Remuneration, social security and pensions62 | €43,430 | €58,497 | €62,155 | €108,514 | €69,784 | ▼ 35.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €85,087 | €162,777 | €225,824 | €269,362 | €301,207 | ▲ 11.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€9,425 | - | €18,850 | €15,545 | ▼ 17.5% |
| Other operating charges640/8 | €1,521 | €12,766 | €15,022 | €20,658 | €25,512 | ▲ 23.5% |
| Non-recurring operating charges66A | - | €855 | - | €2,365 | - | - |
| Gross operating margin9900 | €381,058 | €479,208 | €657,809 | €580,329 | €537,635 | ▼ 7.4% |
| Operating profit (loss)9901 | €251,020 | €253,738 | €354,807 | €160,581 | €125,587 | ▼ 21.8% |
| Financial income75/76B | €4,499 | €3,659 | €4,977 | €6,229 | €14,685 | ▲ 136% |
| Recurring financial income75 | €4,499 | €3,659 | €4,977 | €6,229 | €14,685 | ▲ 136% |
| Financial charges65/66B | €9,287 | €23,499 | €29,797 | €28,418 | €29,589 | ▲ 4.1% |
| Recurring financial charges65 | €9,287 | €23,499 | €29,797 | €28,418 | €29,589 | ▲ 4.1% |
| Profit (loss) for the period before taxes9903 | €246,233 | €233,898 | €329,987 | €138,392 | €110,684 | ▼ 20.0% |
| Income taxes67/77 | €12,262 | €35,823 | €73,094 | €29,115 | €20,526 | ▼ 29.5% |
| Profit (loss) for the period9904 | €233,971 | €198,074 | €256,893 | €109,277 | €90,158 | ▼ 17.5% |
| Profit (loss) for the period to be appropriated9905 | €233,971 | €198,074 | €256,893 | €109,277 | €90,158 | ▼ 17.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.1m | €1.4m | €1.5m | €1.5m | €1.7m | ▲ 8.5% |
| Fixed assets21/28 | €0.9m | €1.0m | €1.2m | €1.3m | €1.3m | ▲ 5.0% |
| Tangible fixed assets22/27 | €0.9m | €1.0m | €1.2m | €1.3m | €1.3m | ▲ 4.9% |
| Plant, machinery and equipment23 | €0.7m | €0.9m | €1.1m | €1.1m | €1.1m | ▼ 5.4% |
| Furniture and vehicles24 | €0.1m | €0.1m | €0.08m | €0.07m | €0.2m | ▲ 181% |
| Other tangible fixed assets26 | - | - | €0.003m | €0.03m | €0.02m | ▼ 26.4% |
| Financial fixed assets28 | €270 | €270 | €0.01m | €0.01m | €0.01m | ▲ 17.0% |
| Current assets29/58 | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 24.3% |
| Amounts receivable after more than one year29 | - | - | €0.007m | €0.005m | €0.005m | ▼ 10.8% |
| Other amounts receivable291 | - | - | €0.007m | €0.005m | €0.005m | ▼ 10.8% |
| Amounts receivable within one year40/41 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 7.1% |
| Trade receivables40 | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 22.6% |
| Other amounts receivable41 | €0.05m | €0.07m | €0.03m | €0.1m | €0.09m | ▼ 12.0% |
| Cash at bank and in hand54/58 | €0.03m | €0.1m | €0.08m | €0.02m | €0.07m | ▲ 241% |
| Deferred charges and accrued income490/1 | €0.008m | €0.01m | €0.02m | €0.02m | €0.03m | ▲ 23.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.1m | €1.4m | €1.5m | €1.5m | €1.7m | ▲ 8.5% |
| Equity10/15 | €0.4m | €0.6m | €0.9m | €1.0m | €1.1m | ▲ 9.0% |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.2m | €0.4m | €0.7m | €0.8m | €0.9m | ▲ 11.3% |
| Distributable reserves133 | €0.2m | €0.4m | €0.7m | €0.8m | €0.9m | ▲ 11.3% |
| Amounts payable17/49 | €0.6m | €0.7m | €0.6m | €0.5m | €0.6m | ▲ 7.5% |
| Amounts payable after more than one year17 | €0.3m | €0.3m | €0.2m | €0.2m | €0.3m | ▲ 60.2% |
| Financial debts170/4 | €0.3m | €0.3m | €0.2m | €0.2m | €0.3m | ▲ 60.2% |
| Amounts payable within one year42/48 | €0.3m | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 15.7% |
| Current portion of amounts payable after more than one year42 | - | €0.2m | €0.2m | €0.1m | €0.1m | ▲ 2.9% |
| Financial debts43 | €0.2m | €0.05m | €0.05m | €0.09m | €0.09m | ▼ 6.1% |
| Credit institutions430/8 | €0.2m | €0.05m | €0.05m | €0.09m | €0.09m | ▼ 6.1% |
| Trade debts44 | €0.006m | €0.01m | €0.04m | €0.08m | €0.08m | ▲ 2.6% |
| Suppliers440/4 | €0.006m | €0.01m | €0.04m | €0.08m | €0.08m | ▲ 2.6% |
| Taxes, remuneration and social security45 | €0.04m | €0.06m | €0.06m | €0.03m | €0.02m | ▼ 26.9% |
| Taxes450/3 | €0.04m | €0.06m | €0.06m | €0.02m | €0.02m | ▲ 17.7% |
| Remuneration and social security454/9 | €0.006m | €0.003m | €0.003m | €0.01m | €0.003m | ▼ 78.4% |
| Other amounts payable47/48 | €0.1m | €0.1m | €0.06m | €0.05m | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €233,971 | €198,074 | €256,893 | €109,277 | €90,158 | ▼ 17.5% |
| + Depreciation and write-downs630 | €85,087 | €162,777 | €225,824 | €269,362 | €301,207 | ▲ 11.8% |
| Operating cash flow (approximation) | €319,057 | €360,852 | €482,718 | €378,639 | €391,365 | ▲ 3.4% |
| Investment in fixed assets (approximation) | - | -€337,889 | -€405,534 | -€313,874 | -€364,627 | ▼ 16.2% |
| Change in cash | - | €77,462 | -€29,941 | -€56,418 | €47,060 | ▲ 183% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector, comparable size
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LUSOBATI
BE 0470.345.080
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Betontrappen Tom Hermans
BE 0823.661.444
Hoogstraten · Eq €1,086,496
SPANORAMA
BE 0704.827.140
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Of 15,518 companies in this sector we hold annual accounts for 7,427. 3,104 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Timeline
9 eventsLatest 09-07-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €90,158 ▼17.5%
Net result drops to €90,158, the lowest in the series.
31-12
Financial
Equity above €1mEq €1.1m ▲9%
5 profitable years in a row build equity to €1.1m.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2021net €256,893 ▲29.7%
Operating result €354,807, net result €256,893, both a record.
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €500,000Eq €632,045 ▲45.6%
2 profitable years in a row build equity to €632,045.
22-06
NBB filing
Annual accounts filed
fiscal year 2021 · 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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Company details
Private limited company · founded 16-02-2021Year ends 31-12Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded16-02-2021
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
77320Rental and leasing activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0763668429
Registered
08-10-2025
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.
Sites & property
Location & real-estate footprint
Registered office, Tienen · 1 establishment unit since 2021
Ground area
4,179 m²
Building footprint
703 m²
Volume, LiDAR
4,046 m³
Parcel 24594C0034/00K000, Flanders · tallest building 7.7 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
H-SB
since 2021unit no. 2.313.812.561
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24594C0034/00K000 | Flanders | 4,179 m² | 1 · 703 m² | 7.7 m · 2 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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