Active BE 0894.432.149Private limited company

H3+

B.A. Guilbertlaan 3 ·8700 Tielt, Belgium· 18 yrs active

Sector: Activities of head offices (70100)

Conclusion Checked

H3+ has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €90k and a net result of €-7k. Equity is shrinking by ~25% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2025. Its solvency ranks better than 17% of 8071 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).

Based on the State Gazette, CBE and 5 annual accounts.

Key figures

Equity	€90k
Net result	€-7k
Better than sector	17%
Active	18 yrs

Financial profile 5 of 5 axes measured · computed by Checked

38 / 100

Fragile profile, watch profitability in particular.

All 5 axes are computed from data Checked has read.

Health 20

Profitability 0

Solvency 11

Growth 58

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.2% Very low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Established

Founded in 2007, 18 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2024 · computed

20 / 100 Critical

050100

Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

No credit

negative equity or figures too weak

Score history

55 2020

70 2021

70 2022

12 2023

20 2024

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 0.01 (< 1.0) -10

Quick ratio Quick ratio 0.01 (< 0.6) -5

Leverage Debt/equity 5.33 (> 3.0) -10

Profitability Negatieve ROE -8% -10

Profit trend Net profit up YoY +5

Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Financial overview17 NBB filings

Annual accounts filed on 25-06-2025 with the NBB · fiscal year 2024 · abbreviated schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining At this pace, equity would indicatively turn negative around fiscal year 2025, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2024 · NACE 70, Activities of head offices; management consultancy activities · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	15.8%	53.8%	better than 17% of 8071 sector peers
Net result	€-7k	€46k	better than 16% of 8074 sector peers
Equity	€90k	€443k	better than 22% of 8075 sector peers
Gross operating margin	€-7k	€99k	better than 9% of 8061 sector peers
Employees (FTE)	0.0	0.3	better than 25% of 3146 sector peers

Net profit

€-7k

+98.5% 20-24

Total assets

€572k

-0.7% 20-24

Equity

€90k

-7.4% 20-24

Working capital

€-477k

-1.5% 20-24

Employees (FTE)

0

- 20-24

Income taxes

€0

-100.0% 20-24

Debt

€482k

+0.7% 20-24

Debt ≤ 1y

€482k

+0.7% 20-24

Current ratio

0.01

-45.2% 20-24

Quick ratio

0.01

-45.2% 20-24

Solvency

15.8%

-6.8% 20-24

Debt / equity

5.33

+8.7% 20-24

ROE

-8.0%

+98.4% 20-24

ROA

-1.3%

+98.5% 20-24

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2024	2023	2022	2021	2020
Deposit	abbreviated schema	abbreviated schema	abbreviated schema	abbreviated schema	abbreviated schema
Revenue	-	-	-	-	-
EBITDA	-	-	-	-	-
Net profit	€-7k	€-489k	€-1k	€-11k	€-1.74M
Cash flow	-	-	-	-	-
Staff costs	-	-	-	-	-
Income taxes	€0	€478k	-	-	-
Dividends	-	-	-	-	-
Total assets	€572k	€576k	€589k	€591k	€606k
Equity	€90k	€98k	€587k	€588k	€599k
Debt	€482k	€479k	€2k	€3k	€7k
of which ≤ 1y	€482k	€479k	€2k	€3k	€7k
of which > 1y	-	-	-	-	-
Working capital	€-477k	€-470k	€20k	€21k	€32k
Employees (FTE)	0.0	0.0	-	-	-

Ratios (computed)

	2024	2023	2022	2021	2020
Current ratio	0.01	0.02	9.06	8.43	5.77
Quick ratio	0.01	0.02	9.06	8.43	5.77
Working capital ratio	-83.3%	-81.5%	3.3%	3.5%	5.3%
Solvency	15.8%	16.9%	99.6%	99.5%	98.9%
Debt / equity	5.33	4.90	0.00	0.00	-
Long-term debt ratio	-	-	-	-	-
Interest coverage	-	-	-	-	-
Gross margin	-	-	-	-	-
Net margin	-	-	-	-	-
ROA	-1.3%	-84.9%	-0.2%	-1.9%	-287.0%
ROE	-8.0%	-501.2%	-0.2%	-1.9%	-290.3%
EBITDA margin	-	-	-	-	-
Days sales outstanding	-	-	-	-	-
Days payable outstanding	-	-	-	-	-
Inventory turnover	-	-	-	-	-
Days inventory (DSI)	-	-	-	-	-

Balance-sheet composition 2024

Assets

Fixed assets €567k · 99.1% Current assets €5k · 0.9%

Equity & liabilities

Equity €90k · 15.8% Debt €482k · 84.2%

Full annual accounts (22 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024	2023	2022	2021	2020
Balance sheet, Assets
TOTAL ASSETS	20/58	€572k	€576k	€589k	€591k	€606k
Fixed assets	21/28	€567k	€567k	€567k	€567k	€567k
Financial fixed assets	28	€567k	€567k	€567k	€567k	€567k
Current assets	29/58	€5k	€9k	€22k	€24k	€39k
Amounts receivable within one year	40/41	€5k	€2k	€2k	€4k	€5k
Cash & bank	54/58	€259	€7k	€20k	€19k	€34k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€572k	€576k	€589k	€591k	€606k
Equity	10/15	€90k	€98k	€587k	€588k	€599k
Contributions / capital	10/11	€1.79M	€1.79M	€1.79M	€1.79M	-
Reserves	13	€549k	€549k	€549k	€549k	€549k
Accumulated profits (losses)	14	€-2.25M	€-2.24M	€-1.75M	€-1.75M	€-1.74M
Amounts payable	17/49	€482k	€479k	€2k	€3k	€7k
Amounts payable within one year	42/48	€482k	€479k	€2k	€3k	€7k
Trade debts payable within one year	44	€1k	€368	€2k	€3k	€6k
Income statement
Gross operating margin	9900	€-7k	€-10k	€-800	€-10k	€-13k
Operating result	9901	€-7k	€-11k	€-1k	€-11k	€-109k
Financial income	75	€1.63M	-	-	-	-
Financial charges	65	€39	€-2	€67	€40	€48
Result before taxes	9903	€-7k	€-11k	€-1k	€-11k	€-1.74M
Income taxes	67/77	€0	€478k	-	-	-
Net result for the period	9904	€-7k	€-489k	€-1k	€-11k	€-1.74M
Result to be appropriated	9905	€-7k	€-489k	€-1k	€-11k	€-1.74M

Legal Structure

NACE primary	Activities of head offices(70100)
Legal form	Private limited company(610)
Incorporation	21-12-2007
Status	Active
Postal code	8700

Establishment units 1 location

H3+

B.A. Guilbertlaan 3, 8700 TieltFinancial service activities, except insurance and pension funding

since 20082.168.101.537

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
37013B0404/00L000	Flanders	977 m²	1 · 247 m²	11.4 m · 2 fl.

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.

Updates 10 events

All 10Filings 10

2025

25-06