Summary
H2L is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €7.5m and a net result of -€316,565. Equity is growing by ~4.6% per year across the filed fiscal years. Its solvency ranks better than 50% of 5565 sector peers (fiscal year 2025). The company has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · A punctual record breaks
This company filed 4 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-09-2026, 33 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
33 d late
2024
on the day
2023
on the day
2022
3 d early
2021
2 d early
2020
30 d late
2019
68 d late
← 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 18 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidy mirror What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
In the rankings
#3 company by total assets in Kluisbergen, Finance and insurance sector#5 company by equity in Kluisbergen, Finance and insurance sector
Equity
€7.5m▼ 4.0%
2024 · €7.8m
Net result
-€316,565▼ 783%
2024 · -€35,862
Total assets
€14.7m▼ 8.1%
2024 · €16.0m
Solvency
51.1%▲ 2.1pp
2024 · 49.0%
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€1.2m-€343,257▼ 72.4%€1.3m▲ 289%€192,032▼ 85.6%-€211,447
Net result€1.1m-€520,238▼ 52.7%€3.1m▲ 502%-€35,862-€316,565▼ 783%
Equity€7.6m-€7.9m▲ 4.1%€10.9m▲ 37.0%€7.8m▼ 27.9%€7.5m▼ 4.0%
Total assets€12.0m-€12.7m▲ 5.7%€13.6m▲ 7.0%€16.0m▲ 18.0%€14.7m▼ 8.1%
Debt€4.4m-€4.8m▲ 8.4%€2.7m▼ 43.1%€8.2m▲ 202%€7.2m▼ 11.9%
Working capital-€2.0m--€2.4m▼ 20.8%-€54,522▲ 97.8%-€5.0m▼ 9,153%-€4.6m▲ 8.7%
Solvency63.5%-62.5%▼ 1.0pp80.1%▲ 17.6pp49.0%▼ 31.1pp51.1%▲ 2.1pp
Staff (FTE)3.8-5.5▲ 44.7%5.4▼ 1.8%7.6▲ 40.7%9.6▲ 26.3%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Why a figure moved sharply
- 2025 Net result -783% on 2024. Cause not known from the registers.
- 2023 Net result +502% on 2022. Cause not known from the registers.
- 2022 Net result -53% on 2021. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €211,447 after €192,032 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €14.7m
Fixed assets
€13.3m ▼ 7.4%
Current assets
€1.4m ▼ 14.3%
Equity and liabilities €14.7m
Equity
€7.5m ▼ 4.0%
Debt
€7.2m ▼ 11.9%
Debt's share of the balance-sheet total falls from 51.0% to 48.9%. Equity and debt are lower.
Key figures and ratios
ROE
-4.2%▼
2024 · -0.5%
ROA
-2.2%▼
2024 · -0.2%
Debt ≤ 1 year
€6.0m▼
2024 · €6.6m
Debt > 1 year
€964,286▼
2024 · €1.4m
Income taxes
€2,502▲
2024 · €1,489
Staff costs
€792,471▲
2024 · €595,911
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €324,212 | €462,600 | €419,104 | €595,911 | €792,471 | ▲ 33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,371 | €12,450 | €15,299 | €19,010 | €64,332 | ▲ 238% |
| Other operating charges640/8 | €1,164 | €1,667 | €17,029 | €16,097 | €16,923 | ▲ 5.1% |
| Non-recurring operating charges66A | - | - | - | €367,668 | - | - |
| Gross operating margin9900 | €1.6m | €819,974 | €1.8m | €1.2m | €662,280 | ▼ 44.4% |
| Operating profit (loss)9901 | €1.2m | €343,257 | €1.3m | €192,032 | -€211,447 | ▼ 210% |
| Financial income75/76B | €230,897 | €270,000 | €2.2m | - | €277,128 | - |
| Recurring financial income75 | €230,897 | €270,000 | €2.2m | - | €277,128 | - |
| Financial charges65/66B | €89,557 | €83,352 | €106,701 | €226,405 | €379,744 | ▲ 67.7% |
| Recurring financial charges65 | €89,557 | €83,352 | €106,701 | €226,405 | €379,744 | ▲ 67.7% |
| Profit (loss) for the period before taxes9903 | €1.4m | €529,905 | €3.5m | -€34,373 | -€314,063 | ▼ 814% |
| Income taxes67/77 | €284,726 | €9,667 | €321,763 | €1,489 | €2,502 | ▲ 68.1% |
| Profit (loss) for the period9904 | €1.1m | €520,238 | €3.1m | -€35,862 | -€316,565 | ▼ 783% |
| Transfer from tax-exempt reserves789 | - | - | €249,200 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €1.1m | €520,238 | €3.4m | -€35,862 | -€316,565 | ▼ 783% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €12.0m | €12.7m | €13.6m | €16.0m | €14.7m | ▼ 8.1% |
| Fixed assets21/28 | €11.8m | €12.1m | €12.1m | €14.4m | €13.3m | ▼ 7.4% |
| Intangible fixed assets21 | - | - | - | €137,826 | €110,261 | ▼ 20.0% |
| Tangible fixed assets22/27 | €45,542 | €48,723 | €44,778 | €61,948 | €109,290 | ▲ 76.4% |
| Plant, machinery and equipment23 | €45,542 | €48,723 | €44,778 | €58,857 | €74,270 | ▲ 26.2% |
| Furniture and vehicles24 | - | - | - | - | €28,963 | - |
| Other tangible fixed assets26 | - | - | - | €3,091 | €6,057 | ▲ 96.0% |
| Financial fixed assets28 | €11.8m | €12.1m | €12.0m | €14.2m | €13.1m | ▼ 7.6% |
| Current assets29/58 | €147,258 | €533,146 | €1.5m | €1.6m | €1.4m | ▼ 14.3% |
| Amounts receivable within one year40/41 | €121,840 | €510,975 | €968,278 | €683,404 | €840,886 | ▲ 23.0% |
| Trade receivables40 | €43,613 | €381,490 | €553,890 | €489,904 | €680,839 | ▲ 39.0% |
| Other amounts receivable41 | €78,227 | €129,485 | €414,388 | €193,501 | €160,047 | ▼ 17.3% |
| Current investments50/53 | - | - | €294,000 | €794,000 | €294,000 | ▼ 63.0% |
| Cash at bank and in hand54/58 | €11,215 | €2,684 | €183,973 | €110,367 | €207,982 | ▲ 88.4% |
| Deferred charges and accrued income490/1 | €14,204 | €19,487 | €26,233 | €13,421 | €30,008 | ▲ 124% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €12.0m | €12.7m | €13.6m | €16.0m | €14.7m | ▼ 8.1% |
| Equity10/15 | €7.6m | €7.9m | €10.9m | €7.8m | €7.5m | ▼ 4.0% |
| Contributions10/11 | €18,550 | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €7.6m | €7.9m | €10.8m | €7.8m | €7.5m | ▼ 4.1% |
| Non-distributable reserves130/1 | €1,855 | €1,855 | €295,855 | €295,855 | €295,855 | = |
| Reserves not available under the articles1311 | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Own shares acquired1312 | - | - | €294,000 | €294,000 | €294,000 | = |
| Tax-exempt reserves132 | €249,200 | €249,200 | - | - | - | - |
| Distributable reserves133 | €7.3m | €7.7m | €10.5m | €7.5m | €7.2m | ▼ 4.2% |
| Amounts payable17/49 | €4.4m | €4.8m | €2.7m | €8.2m | €7.2m | ▼ 11.9% |
| Amounts payable after more than one year17 | €2.2m | €1.7m | €1.1m | €1.4m | €964,286 | ▼ 29.2% |
| Financial debts170/4 | €2.2m | €1.7m | €1.1m | €1.4m | €964,286 | ▼ 29.2% |
| Amounts payable within one year42/48 | €2.2m | €3.0m | €1.5m | €6.6m | €6.0m | ▼ 10.0% |
| Current portion of amounts payable after more than one year42 | €595,872 | €646,956 | €598,712 | €484,015 | €397,857 | ▼ 17.8% |
| Trade debts44 | €43,346 | €19,160 | €37,405 | €567,002 | €255,919 | ▼ 54.9% |
| Suppliers440/4 | €43,346 | €19,160 | €37,405 | €567,002 | €255,919 | ▼ 54.9% |
| Taxes, remuneration and social security45 | €224,367 | €126,196 | €178,120 | €218,263 | €187,484 | ▼ 14.1% |
| Taxes450/3 | €175,797 | €84,317 | €115,042 | €125,273 | €29,087 | ▼ 76.8% |
| Remuneration and social security454/9 | €48,570 | €41,879 | €63,078 | €92,990 | €158,397 | ▲ 70.3% |
| Other amounts payable47/48 | €1.3m | €2.2m | €712,768 | €5.4m | €5.1m | ▼ 4.4% |
| Accrued charges and deferred income492/3 | €17,743 | €26,479 | €31,070 | €160,447 | €250,186 | ▲ 55.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.1m | €520,238 | €3.1m | -€35,862 | -€316,565 | ▼ 783% |
| + Depreciation and write-downs630 | €7,371 | €12,450 | €15,299 | €19,010 | €64,332 | ▲ 238% |
| Operating cash flow (approximation) | €1.1m | €532,688 | €3.1m | -€16,852 | -€252,232 | ▼ 1,397% |
| Investment in fixed assets (approximation) | - | -€305,513 | €36,748 | -€2.3m | €996,768 | ▲ 143% |
| Change in cash | - | -€8,530 | €181,289 | -€73,606 | €97,614 | ▲ 233% |
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
02-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 33 days late
2025
31-12
Financial
Weakest financial yearnet -€316,565
Net result drops to -€316,565, the lowest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €3.1m ▲502%
Operating result €1.3m, net result €3.1m, both a record.
31-12
Financial
Equity above €10mEq €10.9m ▲37%
5 profitable years in a row build equity to €10.9m.
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
07-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 68 days late
2019
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
26-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
5 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, Kluisbergen · 1 establishment unit since 2009
Ground area
1.4 ha
Building footprint
683 m²
Volume, LiDAR
5,385 m³
2 parcels, Flanders · tallest building 15.4 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Oudenaardsesteenweg 81, 8580 Avelgem
since 20092.181.414.687
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45002A0292/00N000 | Flanders | 1.0 ha | 1 · 312 m² | 15.4 m · 3 fl. |
| 34003A0488/00C000 | Flanders | 4,168 m² | 1 · 370 m² | 11.8 m · 2 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.
Structure & network
Owners and holdings
7 holdingsOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 7
-
100%
-
100%
- DECOSTERE ACCOUNTANCY DRONGENsubsidiaryEquity €1.2mResult €533,877100%
- DECOSTERE ACCOUNTANCY IEPERsubsidiaryEquity €213,540Result €75,030100%
-
100%
- DECOSTERE ACCOUNTANCY ROESELAREsubsidiaryEquity €1.2mResult €198,635100%
-
100%
According to the 2025 annual accounts of H2L and those 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.
Public money · subsidies and aid
Flemish government
2024 to 2025 · 2 entries · 3,262 EUR awarded · 3,093 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,024 EUR | 0 EUR |
| 2024 | 1 | 2,238 EUR | 3,093 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
894500KVOZ2AKEHRW751
Similar companies · same sector, comparable size
REBUS INVEST
BE 0668.787.185
Maarkedal · Eq €7,516,377
Neomis
BE 0807.627.740
Merelbeke-Melle · Eq €7,517,750
SPRIMO HOLDING
BE 0734.823.203
Brussel · Eq €7,519,481
CLEMENTINE COCQUYT
BE 0480.120.207
Torhout · Eq €7,521,384
Tetris Offices. The Loop building one
BE 0563.794.286
Sint-Joost-ten-Node · Eq €7,522,189
Of 24,729 companies in sector 64210 we hold annual accounts for 19,773. 6,883 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 (pre-2019)
Founded28-09-2009
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
69201Certified accountants and tax accountants
E-invoicing
Reachable via Peppol
Peppol ID
0208:0819001880
Also
9925:BE0819001880
Registered
27-10-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.