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HAGER Modulec

Active
Public limited companyfounded 1980active for 45 yearsNoordkustlaan 16C, 1702 Dilbeek, BelgiumKBO/BCE: BE 0421.067.003
Summary

HAGER Modulec has been active since 1980 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.3m and a net result of €879,993. Equity is shrinking by about 16% per year across the filed financial years. Its solvency ranks better than 54% of 6,141 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Risk analysisFollow ReportCompare
HAGER ModulecActiveChecked score 89/100
Risk analysis ReportCompare

Overview

Activity
Wholesale of electrical equipment, including installation materials
NACE 46643
1 site
Size
€24.3mturnover 2025
Staff
22.8 FTE
Equity
€5.3m
Profit
€879,993
Financial health
89 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.2%
Structure
Parent
Hager Electro SAS · 100%
Auditor: Forvis Mazars Bedrijfsrevisoren2025 accounts 30 days early4 of 20 deeds summarised
Why 89raises riskLiquidity: current ratio 1.94, cash €2,420lowers riskFounded in 1980Profit of €879,993 (financial year 2025)Size: turnover €24.3m, 22.8 FTE, total assets €11.0mShow the evidence

Checked score

Score 2025
89 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 45% of its sector peers (NACE 46, small)
Every signal that counts is listed under Signals.
Financial strength · tick = 2024
Average
Solvency 74-6
equity 48.7% of total assets
Liquidity 24-4
short-term debt 51.3% · cash 0.0%
Profitability 67-1
return on assets 8.0%
Bankruptcy probability, 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (4,374 companies, NACE 46, small)
Last 24 months 11-2024: 0.2% 12-2024: 0.2%● unchanged vs 11-2024 01-2025: 0.2%● unchanged vs 12-2024 02-2025: 0.1%▼ -0.1 percentage points vs 01-2025 03-2025: 0.2%▲ +0.1 percentage points vs 02-2025 04-2025: 0.2%● unchanged vs 03-2025 05-2025: 0.2%● unchanged vs 04-2025 06-2025: 0.2%● unchanged vs 05-2025highest value 07-2025: 0.1%▼ -0.1 percentage points vs 06-2025 08-2025: 0.1%● unchanged vs 07-2025 09-2025: 0.1%● unchanged vs 08-2025 10-2025: 0.1%● unchanged vs 09-2025 11-2025: 0.1%● unchanged vs 10-2025 12-2025: 0.1%● unchanged vs 11-2025 01-2026: 0.1%● unchanged vs 12-2025 02-2026: 0.1%● unchanged vs 01-2026lowest value 03-2026: 0.1%● unchanged vs 02-2026 04-2026: 0.1%● unchanged vs 03-2026 05-2026: 0.1%● unchanged vs 04-2026 06-2026: 0.1%● unchanged vs 05-2026 07-2026: 0.1%● unchanged vs 06-2026 08-2026: 0.2%▲ +0.1 percentage points vs 07-2026 09-2026: 0.2%● unchanged vs 08-2026 10-2026: 0.2%● unchanged vs 09-2026
Credit of up to €470,000 on 30-day terms is acceptable
Liquidity ample (current ratio 1.94, compared with 2.22 in 2024, above the usual 1.5; short-term debt: 51.3% and cash: 0% of total assets), but 51.3% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, small): better than 57% on solvency, 22% on liquidity, 55% on profitability and 46% on growth.

The bankruptcy probability was computed on 26-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.
lowers riskraises riskneutral
raises risk · Liquidity: current ratio 1.94, cash €2,420
NBB · annual accounts
lowers risk · Founded in 1980
Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.
KBO
lowers risk · Profit of €879,993 (financial year 2025)
NBB · annual accounts
lowers risk · Size: turnover €24.3m, 22.8 FTE, total assets €11.0m
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
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 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
30 days early
2024
37 days early
2023
43 days early
2022
14 days early
2021
13 days early
2020
9 days late
2019
17 days early
← 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 21 days before the deadline; the sector median (NACE 46) for financial year 2024 is 3 days before the deadline, and 39% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 1 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
27-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2025 · full…
  2. Appointment: Forvis Mazars, Bedrijfsrevisoren (statutory auditor)Gazette deed
  3. Annual accounts filedfinancial year 2024 · full…

Key points

  • Positive: 8 profitable years in a rowprofit 2025: €879,993 8 years View
  • Positive: Among the best 20% on net resultsector median €112,347 · 6,076 companies €879,993 View
  • Controlled by Hager Electro SASultimately: Hager SE 100% View
  • Positive: Filed on time since financial year 2021accounts within the deadline every year 5 years View
  • Active since 1980founded 23-12-1980 45 years View

By topic

Financials

Financial year
2025
Turnover
€24.3m
Profit
€879,993
Solvency
48.7%
Turnover▲ 3.4%
Net result
20182025
Go to Financials

Board & ownership

Board
2 members
Parent
Hager Electro SAS · 100%
Auditor
Forvis Mazars Bedrijfsrevisoren
  • Dominique Albin Jacques WEBERDirector
  • Adrien RichterDirector
Go to Board & ownership

Timeline

Events
49
Since
1982
Next accounts
by 31-07-2027
  1. 24-04-2025Resignation: Jennifer Udanch (director)
  2. 08-01-2025Resignation: Daphna Goldstein (director)
  3. 18-06-2024Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Wholesale of electrical equipment, including installation materialsNACE 46643
Founded
23-12-1980
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Key facts about HAGER Modulec

What is the company number of HAGER Modulec?
0421.067.003. In Belgium the VAT number is the company number with BE in front: BE 0421.067.003.
Where is HAGER Modulec based?
The registered office is at Noordkustlaan 16C, 1702 Dilbeek.Company details
What does HAGER Modulec do?
According to the KBO register, the main activity is wholesale of electrical equipment, including installation materials (NACE 46643).
What is the legal form of HAGER Modulec?
Public limited company (NV).
When was HAGER Modulec founded?
On 23-12-1980.
Is HAGER Modulec still active?
Yes, HAGER Modulec is an active enterprise in the KBO register.
How many employees does HAGER Modulec have?
On average 22.8 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of HAGER Modulec?
€24.3m in financial year 2025, according to the filed annual accounts.
Is HAGER Modulec profitable?
In financial year 2025, HAGER Modulec made a profit of €879,993.
Where can I find the annual accounts of HAGER Modulec?
HAGER Modulec filed 44 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of HAGER Modulec due?
By 31-07-2027, for financial year 2026.Timeline

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