Equity
€85,929 ▲ 35.3%
HAI has made a profit in every financial year since 2019.
HAI
Lifetime
7 annual accounts with figures on one time axispeak €127,636 (2024)
€97,728▼ 23.4%
peak €22,425 (2025)
€22,425▲ 130%
peak €85,929 (2025)
€85,929▲ 35.3%
€140,468▲ 21.4%
peak 1 FTE (2023)
-not published
Board3 names since 2019
3 directorsBENZENOU Edna and 2 others
Documentsfilings and deeds
21-09-202652 days late
2025abbreviated format
Gross margin from €127,636 to €97,728Result from €9,755 to €22,425Equity from €63,504 to €85,929Debts from €115,739 to €140,468
Key points
from the 2025 annual accountsChecked score
64
Healthy
Financially stronger than 61% of micro companies in retail trade (NACE 47)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
1.5% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.6% across 40,277 companies (NACE 47, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.3%
01-2025: 1.3%● unchanged vs 12-2024
02-2025: 1.3%● unchanged vs 01-2025
03-2025: 1.3%● unchanged vs 02-2025
04-2025: 1.3%● unchanged vs 03-2025
05-2025: 1.3%● unchanged vs 04-2025
06-2025: 1.2%▼ -0.1 percentage points vs 05-2025lowest value
07-2025: 1.2%● unchanged vs 06-2025
08-2025: 1.9%▲ +0.7 percentage points vs 07-2025
09-2025: 2.2%▲ +0.3 percentage points vs 08-2025
10-2025: 1.3%▼ -0.9 percentage points vs 09-2025
11-2025: 1.3%● unchanged vs 10-2025
12-2025: 1.3%● unchanged vs 11-2025
01-2026: 1.3%● unchanged vs 12-2025
02-2026: 1.3%● unchanged vs 01-2026
03-2026: 1.3%● unchanged vs 02-2026
04-2026: 1.3%● unchanged vs 03-2026
05-2026: 1.3%● unchanged vs 04-2026
06-2026: 1.3%● unchanged vs 05-2026
07-2026: 1.4%▲ +0.1 percentage points vs 06-2026
08-2026: 2.2%▲ +0.8 percentage points vs 07-2026
09-2026: 2.5%▲ +0.3 percentage points vs 08-2026highest value
10-2026: 1.5%▼ -1.0 percentage point vs 09-2026
11-2026: 1.5%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Last filed accounts filed 52 days late; 2 of the last 3 accounts late
Size: total assets €226,397
Founded in 2019
lowers risk
Liquidity: current ratio 1.52, cash €41,933
Calculation
The band follows from the bankruptcy probability. 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 47, micro). It does better than 53% of them on solvency, 40% on liquidity, 70% on profitability and 82% on growth.
The bankruptcy probability was computed on 10-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 26,972 companies had the same profile as HAI has now. Each dot stands for 68 companies, two years later.
94.9%
were still trading
3.4%
stopped another way
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of HAI itself: 1.5% within 12 months.
Test of the method
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 26,972 companies, not a prediction for HAI. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €5,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.52 (1.4 in 2024), above the usual 1.5. Short-term debt is 59.8% and cash 18.5% of total assets. However, 62% of the assets are financed with debt and provisions.
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Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 52 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-09-2026, 52 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 7 filingsDeviation from the deadline
2025
52 days late
2024
57 days late
2023
30 days late
2022
5 days early
2021
44 days late
2020
2 days late
2019
7 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 27 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% 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 13 September (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- SZPILMAN Raphaël Cédric 50 sharesdeed of 04-03-2019
- BENZENOU Edna 50 sharesdeed of 04-03-2019
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0721684948
Changes of role: SZPILMAN Raphaël (director) and BENZENOU Edna (director)
Gazette deed
First establishment
vente de textile, Chaussée de Bruxelles 260, Waterloo
Incorporation
Founding capital of €18,600, 100 shares · Founders: SZPILMAN Raphaël Cédric and BENZENOU Edna · Appointments: SZPILMAN Raphaël Cédric (manager) and BENZENOU Edna (manager) · published on 04-03-2019 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| HAI Waterloo | €226,397 | €97,728 | 38.0% | - |
| LES JOLIES FILLES Mont-Saint-Guibert | €218,605 | €90,509 | 35.5% | - |
| BUTIK DINAMIK Tremelo | €236,513 | €98,406 | 58.2% | - |
| Leef Mechelen | €218,352 | €75,052 | 54.4% | - |
| Janue Brussels | €278,182 | €108,627 | -70.5% | - |
| REX work & safety Destelbergen | €220,892 | €97,770 | 60.0% | - |
| MOUNS Chaudfontaine | €234,791 | €139,854 | 8.5% | 4.1 |
These companies have the same main activity as HAI: retail sale of women's outerwear (NACE 47711). They are comparable in size and age: total assets between €218,000 and €278,000, founded between 2018 and 2020.
Official details
Source: KBO- Status
- Active since 28-02-2019Normal situation
- Activity
- Retail sale of women's outerwearNACE 47711and 5 others
- Joint committees
- 100Auxiliary committee for blue-collar workers
- 201Independent retail · annual accounts 2025
- Establishment unit
- 2.290.525.5341410 Waterloo, since 01-07-2019
- Financial year end
- 31 December
- Peppol
- Reachable since 19-12-2025
Annual accounts 2025
- ≈ €480,000estimated
- €226,397▲ 26.3%
- Employeeson 31-12-2025
- 1=
- Filing
- Filed on 21-09-2026
Insights on HAI
HAI files the abbreviated format. That format states no turnover. The gross margin rose from €37,135 in 2019 to €97,728 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about HAI
- What is the company number of HAI?
- The company number of HAI is 0721.684.948. The VAT number is the same number with BE in front: BE 0721.684.948.
- Where is HAI based?
- The registered office is at Chaussée de Bruxelles 260, 1410 Waterloo.Company details
- What does HAI do?
- According to the KBO register, the main activity is retail sale of women's outerwear (NACE 47711).
- What is the legal form of HAI?
- HAI is a private limited company (BV).
- When was HAI founded?
- HAI was founded on 28-02-2019.
- Is HAI still active?
- Yes, HAI is an active enterprise in the KBO register.
- How many employees does HAI have?
- HAI had an average of 1.4 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does HAI fall under?
- In its 2025 annual accounts, HAI states joint committees 100 (Auxiliary committee for blue-collar workers) and 201 (Independent retail).
- What is the turnover of HAI?
- The turnover in financial year 2025 is ≈ €480,000. This figure is estimated from the gross margin of €97,728 and 74 comparable companies (NACE 477). It probably lies between €240,000 and €690,000.
- Is HAI profitable?
- In financial year 2025, HAI made a profit of €22,425.
- Where can I find the annual accounts of HAI?
- HAI filed 7 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of HAI due?
- HAI must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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