HADEFIS
ActiveSummary
HADEFIS has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €180,014 and a net result of €18,305. Equity is growing by ~9.1% per year across the filed fiscal years. Its solvency ranks better than 23% of 31958 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability45▲+7
Solvency45▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity short (current ratio 0.52 against 0.59 in 2024; short-term debt: 61.4% and cash: 11.8% of total assets), and 80% of the assets are financed with debt.
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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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
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
20%
Return on assets
2%
Age of the figures
10 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 31958 sector peers (2025).
NBB · sector comparisonPosition among 31958 sector peers
Solvency
better than 23%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-11-2025 was due by 30-06-2026 and was filed on 08-06-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
24 d early
2023
31 d early
2022
1 d early
2021
3 d early
2020
33 d early
2019
on the day
← 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 16 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-11-2026 and is due by 30-06-2027. Nothing is late today. Usually files around 8 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today30-11-2026 close30-06-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€180,014▲ 11.3%
2024 · €161,709
Total assets
€899,498▼ 4.0%
2024 · €936,571
Net result
€18,305▲ 125%
2024 · €8,146
Working capital
-€264,877▼ 15.2%
2024 · -€229,970
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€34,436▼ 38.0%€49,305▲ 43.2%€26,087▼ 47.1%€42,708▲ 63.7%€58,609▲ 37.2%
Net result€11,852within the sector's middle half▼ 53.3%€15,334within the sector's middle half▲ 29.4%€534below the sector's middle half▼ 96.5%€8,146within the sector's middle half▲ 1,426%€18,305within the sector's middle half▲ 125%
Equity€137,696within the sector's middle half▲ 9.4%€153,030within the sector's middle half▲ 11.1%€153,564within the sector's middle half▲ 0.3%€161,709within the sector's middle half▲ 5.3%€180,014within the sector's middle half▲ 11.3%
Total assets€948,954above the sector's middle half▼ 2.9%€936,110above the sector's middle half▼ 1.4%€926,944above the sector's middle half▼ 1.0%€936,571above the sector's middle half▲ 1.0%€899,498above the sector's middle half▼ 4.0%
Debt€811,258▼ 4.8%€783,080▼ 3.5%€773,380▼ 1.2%€774,861▲ 0.2%€719,484▼ 7.1%
Working capital-€168,243below the sector's middle half▼ 8.9%-€164,427below the sector's middle half▲ 2.3%-€204,440below the sector's middle half▼ 24.3%-€229,970below the sector's middle half▼ 12.5%-€264,877below the sector's middle half▼ 15.2%
Solvency14.5%below the sector's middle half▲ 1.6pp16.3%below the sector's middle half▲ 1.8pp16.6%below the sector's middle half▲ 0.2pp17.3%below the sector's middle half▲ 0.7pp20.0%below the sector's middle half▲ 2.7pp
Current ratio0.65below the sector's middle half▼ 0.020.68below the sector's middle half▲ 0.030.63below the sector's middle half▼ 0.050.59below the sector's middle half▼ 0.040.52below the sector's middle half▼ 0.07
Return on assets (ROA)1.2%below the sector's middle half▼ 1.3pp1.6%within the sector's middle half▲ 0.4pp0.1%below the sector's middle half▼ 1.6pp0.9%below the sector's middle half▲ 0.8pp2.0%within the sector's middle half▲ 1.2pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 37% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €899,498
Fixed assets
€612,327 ▲ 1.2%
Current assets
€287,171 ▼ 13.4%
Equity and liabilities €899,498
Equity
€180,014 ▲ 11.3%
Debt
€719,484 ▼ 7.1%
Debt's share of the balance-sheet total falls from 82.7% to 80.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€118,912▲
2024 · €92,100
Cash flow
€78,608▲
2024 · €57,538
Debt to equity
4.00▼
2024 · 4.79
ROE
10.2%▲
2024 · 5.0%
Interest coverage
2.88▲
2024 · 2.16
Debt ≤ 1 year
€552,048▼
2024 · €561,500
Debt > 1 year
€133,903▼
2024 · €203,404
Income taxes
€9,074▲
2024 · €4,407
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,681 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 97% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.1%
went bankrupt
2.0%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,338 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% | 1.9% |
| 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 4,681 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €46,274 | €44,721 | €48,461 | €49,392 | €60,303 | ▲ 22.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€25,295 | €0 | - | - | - |
| Other operating charges640/8 | €7,193 | €8,737 | €8,288 | €8,786 | €8,974 | ▲ 2.1% |
| Gross operating margin9900 | €87,903 | €77,469 | €82,836 | €100,885 | €127,886 | ▲ 26.8% |
| Operating profit (loss)9901 | €34,436 | €49,305 | €26,087 | €42,708 | €58,609 | ▲ 37.2% |
| Financial income75/76B | €7,827 | €4,367 | €7,437 | €12,458 | €10,042 | ▼ 19.4% |
| Recurring financial income75 | €3,327 | €4,367 | €7,437 | €12,458 | €10,042 | ▼ 19.4% |
| Non-recurring financial income76B | €4,500 | €0 | - | - | - | - |
| Financial charges65/66B | €23,792 | €30,044 | €30,293 | €42,612 | €41,272 | ▼ 3.1% |
| Recurring financial charges65 | €23,792 | €30,044 | €30,293 | €42,612 | €41,272 | ▼ 3.1% |
| Profit (loss) for the period before taxes9903 | €18,471 | €23,629 | €3,232 | €12,553 | €27,379 | ▲ 118% |
| Income taxes67/77 | €6,618 | €8,295 | €2,698 | €4,407 | €9,074 | ▲ 106% |
| Profit (loss) for the period9904 | €11,852 | €15,334 | €534 | €8,146 | €18,305 | ▲ 125% |
| Profit (loss) for the period to be appropriated9905 | €11,852 | €15,334 | €534 | €8,146 | €18,305 | ▲ 125% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €948,954 | €936,110 | €926,944 | €936,571 | €899,498 | ▼ 4.0% |
| Fixed assets21/28 | €632,728 | €588,006 | €579,974 | €605,041 | €612,327 | ▲ 1.2% |
| Tangible fixed assets22/27 | €632,108 | €587,387 | €579,355 | €604,421 | €612,327 | ▲ 1.3% |
| Land and buildings22 | €631,907 | €587,313 | €577,376 | €544,761 | €567,102 | ▲ 4.1% |
| Furniture and vehicles24 | €201 | €74 | €1,979 | €1,582 | €1,184 | ▼ 25.1% |
| Leasing and similar rights25 | - | - | - | €58,079 | €44,040 | ▼ 24.2% |
| Financial fixed assets28 | €620 | €620 | €620 | €620 | €0 | ▼ 100% |
| Current assets29/58 | €316,226 | €348,103 | €346,969 | €331,530 | €287,171 | ▼ 13.4% |
| Amounts receivable within one year40/41 | €172,176 | €138,468 | €144,592 | €143,225 | €178,467 | ▲ 24.6% |
| Trade receivables40 | €27,198 | €26,489 | €30,821 | €28,056 | €62,671 | ▲ 123% |
| Other amounts receivable41 | €144,978 | €111,979 | €113,772 | €115,168 | €115,796 | ▲ 0.5% |
| Current investments50/53 | - | - | €125,000 | €125,000 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €142,058 | €207,221 | €75,581 | €61,143 | €105,947 | ▲ 73.3% |
| Deferred charges and accrued income490/1 | €1,992 | €2,415 | €1,796 | €2,163 | €2,757 | ▲ 27.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €948,954 | €936,110 | €926,944 | €936,571 | €899,498 | ▼ 4.0% |
| Equity10/15 | €137,696 | €153,030 | €153,564 | €161,709 | €180,014 | ▲ 11.3% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €131,496 | €146,830 | €147,364 | €155,509 | €173,814 | ▲ 11.8% |
| Non-distributable reserves130/1 | €6,726 | €6,726 | €0 | - | - | - |
| Reserves not available under the articles1311 | €6,726 | €6,726 | €0 | - | - | - |
| Tax-exempt reserves132 | €22,279 | €22,279 | €22,279 | €22,279 | €22,279 | = |
| Distributable reserves133 | €102,491 | €117,825 | €125,084 | €133,230 | €151,535 | ▲ 13.7% |
| Amounts payable17/49 | €811,258 | €783,080 | €773,380 | €774,861 | €719,484 | ▼ 7.1% |
| Amounts payable after more than one year17 | €326,300 | €270,050 | €213,800 | €203,404 | €133,903 | ▼ 34.2% |
| Financial debts170/4 | €325,000 | €268,750 | €212,500 | €202,104 | €132,003 | ▼ 34.7% |
| Other amounts payable178/9 | €1,300 | €1,300 | €1,300 | €1,300 | €1,900 | ▲ 46.2% |
| Amounts payable within one year42/48 | €484,469 | €512,530 | €551,409 | €561,500 | €552,048 | ▼ 1.7% |
| Current portion of amounts payable after more than one year42 | €56,250 | €56,250 | €56,250 | €69,423 | €70,100 | ▲ 1.0% |
| Trade debts44 | €6,609 | €13,644 | €35,910 | €9,033 | €8,696 | ▼ 3.7% |
| Suppliers440/4 | €6,609 | €13,644 | €35,910 | €9,033 | €8,696 | ▼ 3.7% |
| Taxes, remuneration and social security45 | €23,119 | €21,683 | €23,124 | €22,993 | €13,201 | ▼ 42.6% |
| Taxes450/3 | €20,043 | €18,510 | €20,056 | €16,296 | €9,701 | ▼ 40.5% |
| Remuneration and social security454/9 | €3,076 | €3,172 | €3,069 | €6,697 | €3,500 | ▼ 47.7% |
| Other amounts payable47/48 | €398,491 | €420,953 | €436,125 | €460,051 | €460,051 | = |
| Accrued charges and deferred income492/3 | €489 | €500 | €8,171 | €9,958 | €33,532 | ▲ 237% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,852 | €15,334 | €534 | €8,146 | €18,305 | ▲ 125% |
| + Depreciation and write-downs630 | €46,274 | €44,721 | €48,461 | €49,392 | €60,303 | ▲ 22.1% |
| Operating cash flow (approximation) | €58,126 | €60,055 | €48,995 | €57,538 | €78,608 | ▲ 36.6% |
| Investment in fixed assets (approximation) | - | €0 | -€40,429 | -€74,458 | -€67,589 | ▲ 9.2% |
| Change in cash | - | €65,163 | -€131,640 | -€14,438 | €44,804 | ▲ 410% |
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
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
06-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-11
Financial
Equity above €150,000Eq €153,030 ▲11.1%
4 profitable years in a row build equity to €153,030.
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
28-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-11
Financial
Highest result since 2018net €25,385 ▲11.5%
Net result €25,385, the highest in the series.
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-11
Financial
Back to profitnet €22,766
Net result €22,766 after one loss-making year.
30-11
Financial
Equity above €100,000Eq €100,458 ▲29.3%
Equity rises from €77,693 to €100,458.
29-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Show earlier events
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
13-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2013
19-12
State Gazette act
General meeting · Director resignation
Director appointment · Board meeting
2012
02-08
State Gazette act
General meeting · Director reappointment
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Zwevegem · 1 establishment unit since 2001
Ground area
6,787 m²
Building footprint
323 m²
Volume, LiDAR
1,348 m³
Parcel 34030B0215/00D000, Flanders · tallest building 8.1 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Heestertstraat(O) 39 A, 8553 Zwevegem
since 20012.093.064.614
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34030B0215/00D000 | Flanders | 6,787 m² | 1 · 323 m² | 8.1 m · 1 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.
Structure & network
Connections & network
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
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Of 82,646 companies in sector 70200 we hold annual accounts for 52,627. 40,645 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
Founded09-02-2001
Fiscal year end30-11
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0474059388
Also
9925:BE0474059388
Registered
14-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.