HAPPY HOUSE CONSTRUCT

Active

Private limited companyfounded 200620 yrs activeRue Rogier 14, 4900 Spa, BelgiumKBO/BCE: BE 0878.952.434

HAPPY HOUSE CONSTRUCT has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.04M and a net result of €386k. Equity is growing by ~63% per year across the filed fiscal years. Its solvency ranks better than 20% of 4602 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).

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Checked score

Score 2024

67 / 100

Healthy

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability76▲+63

Solvency41▲+6

Growth78▲+26

Track record100

Bankruptcy probability, 12 months

0.1% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €65k at 30 days acceptable

Liquidity short (current ratio 0.31 against 0.39 in 2023; short-term debt: 26.5% and cash: 0.7% of total assets), and 84.2% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

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

Sector 70

lower

← fewer bankruptcies more bankruptcies →

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

15.8%

Return on assets

5.9%

Age of the figures

21 mo

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 4602 sector peers (2024).

NBB · sector comparison

Position among 4602 sector peers

Solvency

better than 20%

← weakest strongest →

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 11-09-2025, 42 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

42 d late

2023

26 d early

2022

4 d early

2021

3 d early

2020

4 d early

2019

1 d early

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, full schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€386k

2023 · €-497k

2019: €59k 2020: €42k 2021: €92k 2022: €1.13M 2023: €-497k

2019 → 2024

Working capital

€-1.20M▼ 33.8%

2023 · €-899k

2019: €-179k 2020: €-144k 2021: €-64k 2022: €340k 2023: €-899k

2019 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€-75k-€18k€1.15M▲ 6,415%€649k▼ 43.3%€1.04M▲ 59.4%

Operating result€60k-€128k▲ 113%€1.54M▲ 1,101%€-354k€498k

Net result€42k-€92k▲ 121%€1.13M▲ 1,123%€-497k€386k

Result per fiscal year

Operating resultNet result

The operating result returns to profit in 2024: €498k after a loss of €354k in 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €6.56M

91.8%

Fixed assets €6.02M▼ 2.5%

Current assets €535k▼ 5.1%

Equity and liabilities €6.56M

15.8%

79.3%

Equity €1.04M▲ 59.4%

Provisions €326k▼ 6.7%

Debt €5.20M▼ 9.5%

The debt ratio falls from 85.2% to 79.3%. Equity is higher and debt is lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€847k▲

2023 · €80k

Cash flow

€735k▲

2023 · €-63k

Solvency

15.8%▲

2023 · 9.6%

Current ratio

0.31▼

2023 · 0.39

Quick ratio

0.31▼

2023 · 0.39

Debt / equity

5.02▼

2023 · 8.85

ROE

37.3%▲

2023 · -76.5%

ROA

5.9%▲

2023 · -7.4%

Interest coverage

6.15▲

2023 · 0.46

Debt

€5.20M▼

2023 · €5.74M

Debt ≤ 1 year

€1.74M▲

2023 · €1.46M

Debt > 1 year

€3.46M▼

2023 · €4.27M

Income taxes

€261▼

2023 · €411

Staff costs

€27k▲

2023 · €4k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€6.74M€6.56M▼

Fixed assets21/28€6.18M€6.02M▼

Intangible fixed assets21€12k€10k▼

Tangible fixed assets22/27€6.17M€5.90M▼

Land and buildings22€5.25M€5.07M▼

Plant, machinery and equipment23€12k€20k▲

Furniture and vehicles24€78k€43k▼

Leasing and similar rights25€57k€49k▼

Other tangible fixed assets26€771k€718k▼

Financial fixed assets28-€117k

Current assets29/58€564k€535k▼

Amounts receivable within one year40/41€519k€485k▼

Trade receivables40€156k€228k▲

Other amounts receivable41€363k€256k▼

Cash at bank and in hand54/58€18k€48k▲

Deferred charges and accrued income490/1€27k€2k▼

Equity and liabilities

Total equity and liabilities10/49€6.74M€6.56M▼

Equity10/15€649k€1.04M▲

Contributions10/11€17k€17k=

Reserves13€1.23M€1.16M▼

Non-distributable reserves130/1€5k-

Reserves not available under the articles1311€5k-

Tax-exempt reserves132€1.05M€977k▼

Distributable reserves133€182k€187k▲

Profit (loss) carried forward14€-601k€-145k▲

Provisions and deferred taxes16€349k€326k▼

Deferred taxes168€349k€326k▼

Amounts payable17/49€5.74M€5.20M▼

Amounts payable after more than one year17€4.27M€3.46M▼

Financial debts170/4€4.27M€3.46M▼

Amounts payable within one year42/48€1.46M€1.74M▲

Current portion of amounts payable after more than one year42€196k€321k▲

Trade debts44€755k€561k▼

Suppliers440/4€755k€561k▼

Taxes, remuneration and social security45€24k€33k▲

Taxes450/3€24k€29k▲

Remuneration and social security454/9-€4k

Other amounts payable47/48€488k€822k▲

Accrued charges and deferred income492/3€10k-

Income statement Code20232024

Non-recurring operating income76A€89k€475k▲

Remuneration, social security and pensions62€4k€27k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€434k€349k▼

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€28k-

Other operating charges640/8€118k€65k▼

Non-recurring operating charges66A€629€132▼

Gross operating margin9900€230k€940k▲

Operating profit (loss)9901€-354k€498k▲

Financial income75/76B-€2k

Recurring financial income75-€2k

Financial charges65/66B€171k€138k▼

Recurring financial charges65€171k€138k▼

Profit (loss) for the period before taxes9903€-526k€363k▲

Transfer from deferred taxes780€29k€23k▼

Income taxes67/77€411€261▼

Profit (loss) for the period9904€-497k€386k▲

Transfer from tax-exempt reserves789€88k€70k▼

Profit (loss) for the period to be appropriated9905€-409k€456k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-601k€-145k▲

Profit (loss) brought forward from the previous period14P€-192k€-601k▼

Social balance

Average headcount (FTE)90870.10.8▲

The notes to these accounts (19 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 16Financial 6Filings 10

2025

11-09

NBB filing Annual accounts filed

fiscal year 2024 · full schema · 42 days late

2024

31-12

Financial Back to profitnet €386k

Net result €386k after one loss-making year.

31-12

Financial Equity above €1MEq €1.04M ▲59.4%

Equity rises from €649k to €1.04M.

05-07

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

31-12

Financial Weakest financial yearnet €-497k ▼144%

Net result drops to €-497k, the lowest in the series; recovery starts the following year.

27-01

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

30-06

Financial Highest result since 2019net €1.13M ▲1123%

Operating result €1.54M, net result €1.13M, both a record.

30-06

Financial Liquidity doublescurrent ratio 1.22

Current ratio from 0.51 to 1.22.

30-06

Financial Equity above €1MEq €1.15M ▲6415%

4 profitable years in a row build equity to €1.15M.

28-01

NBB filing Annual accounts filed

fiscal year 2021 · full schema

2021

27-01

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

30-01

NBB filing Annual accounts filed

fiscal year 2019 · full schema

2019

31-01

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

24-01

NBB filing Annual accounts filed

fiscal year 2017 · micro schema

2016

22-12

NBB filing Annual accounts filed

fiscal year 2016 · full schema

2015

22-12

NBB filing Annual accounts filed

fiscal year 2015 · full schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

10 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, Spa · 1 establishment unit since 2006

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Rue Rogier 144900 Spa

Ground area

87 m²

Building footprint

126 m²

Volume, LiDAR

1,955 m³