HAPRO
ActiveSummary
HAPRO has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.5m and a net result of €1.1m. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 83% of 4926 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▼-7
Solvency100=
Growth69▼-1
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €380,000 at 30 days acceptable
Liquidity ample (current ratio 4.34 against 3.94 in 2024; short-term debt: 22.7% of total assets), and 22.7% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
77.3%
Return on assets
18.5%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €4.5m
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 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
63 d late
2023
12 d early
2022
13 d early
2021
16 d early
2020
37 d early
2019
38 d 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 9 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidy mirror Which other companies belong to the same group?Suslino · 19 companies
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Financials · fiscal year 2025, full schema
Turnover
€97.5m▼ 2.1%
2024 · €99.6m
EBIT margin
1.0%▼ 1.1pp
2024 · 2.2%
Net result
€1.1m▼ 50.3%
2024 · €2.2m
Working capital
€4.4m▲ 32.8%
2024 · €3.3m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€74.4m▼ 2.4%€86.7m▲ 16.5%€101.1m▲ 16.7%€99.6m▼ 1.6%€97.5m▼ 2.1%
Operating result-€4.4m▼ 677%€310,015€1.2m▲ 292%€2.2m▲ 77.7%€1.0m▼ 53.0%
Net result-€4.4m▼ 588%€282,679€1.2m▲ 307%€2.2m▲ 87.0%€1.1m▼ 50.3%
EBIT margin-5.9%▼ 5.2pp0.4%▲ 6.2pp1.2%▲ 0.8pp2.2%▲ 1.0pp1.0%▼ 1.1pp
Equity€282,901▼ 93.9%€565,580▲ 99.9%€1.7m▲ 203%€3.4m▲ 98.3%€4.5m▲ 31.4%
Total assets€3.4m▼ 39.8%€3.4m▲ 0.8%€3.8m▲ 12.2%€4.5m▲ 19.4%€5.8m▲ 27.8%
Debt€3.1m▲ 236%€2.8m▼ 8.4%€2.1m▼ 26.3%€1.1m▼ 45.8%€1.3m▲ 16.7%
Working capital€169,498▼ 96.3%€418,919▲ 147%€1.6m▲ 281%€3.3m▲ 107%€4.4m▲ 32.8%
Staff (FTE)8▲ 21.2%7.4▼ 7.5%7.4=0.3▼ 95.9%0.9▲ 200%
Why a figure moved sharply
- 2025 Net result -50% on 2024. Cause not known from the registers.
- 2024 Net result +87%, Equity +98%, Staff (FTE) -96% on 2023. Cause not known from the registers.
- 2023 Net result +307%, Equity +203% on 2022. Cause not known from the registers.
- 2022 Equity +100% on 2021. Cause not known from the registers.
- 2021 Net result -588%, Equity -94% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 53% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.8m
Fixed assets
€87,992 ▼ 13.6%
Current assets
€5.7m ▲ 28.7%
Equity and liabilities €5.8m
Equity
€4.5m ▲ 31.4%
Debt
€1.3m ▲ 16.7%
Debt's share of the balance-sheet total falls from 24.8% to 22.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.0m▼
2024 · €2.2m
Cash flow
€1.1m▼
2024 · €2.2m
Current ratio
4.34▲
2024 · 3.94
Debt to equity
0.29▼
2024 · 0.33
ROE
23.9%▼
2024 · 63.2%
ROA
18.5%▼
2024 · 47.5%
Interest coverage
2208.59▲
2024 · 178.76
Debt ≤ 1 year
€1.3m▲
2024 · €1.1m
Income taxes
€6,550▼
2024 · €56,112
Staff costs
€39,105▲
2024 · €8,360
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 31,324 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | €74.5m | €86.8m | €101.3m | €99.7m | €97.6m | ▼ 2.1% |
| Turnover70 | €74.4m | €86.7m | €101.1m | €99.6m | €97.5m | ▼ 2.1% |
| Other operating income74 | €53,913 | €143,724 | €120,040 | €103,849 | €97,000 | ▼ 6.6% |
| Non-recurring operating income76A | - | - | €1,653 | - | €5,000 | - |
| Operating charges60/66A | €78.9m | €86.5m | €100.0m | €97.5m | €96.5m | ▼ 1.0% |
| Goods for resale, raw materials and consumables60 | €78.0m | €85.7m | €99.2m | €96.9m | €95.8m | ▼ 1.2% |
| Purchases600/8 | €78.0m | €85.7m | €99.2m | €96.9m | €95.8m | ▼ 1.2% |
| Services and other goods61 | €219,554 | €177,355 | €194,946 | €583,712 | €729,431 | ▲ 25.0% |
| Remuneration, social security and pensions62 | €574,559 | €574,248 | €623,082 | €8,360 | €39,105 | ▲ 368% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,401 | €26,901 | €24,376 | €22,484 | €11,943 | ▼ 46.9% |
| Other operating charges640/8 | €3,844 | €3,162 | €3,992 | €3,157 | €3,124 | ▼ 1.1% |
| Non-recurring operating charges66A | - | - | €5,972 | - | €687 | - |
| Operating profit (loss)9901 | -€4.4m | €310,015 | €1.2m | €2.2m | €1.0m | ▼ 53.0% |
| Financial income75/76B | €14,615 | €467 | €8,883 | €61,061 | €60,978 | ▼ 0.1% |
| Recurring financial income75 | €14,615 | €467 | €8,883 | €61,061 | €60,978 | ▼ 0.1% |
| Income from financial fixed assets750 | - | €299 | €4,248 | €23,523 | €22,612 | ▼ 3.9% |
| Income from current assets751 | €14,614 | - | €3,851 | €36,534 | €37,101 | ▲ 1.6% |
| Other financial income752/9 | €1 | €168 | €784 | €1,004 | €1,265 | ▲ 25.9% |
| Financial charges65/66B | €741 | €26,986 | €42,378 | €13,062 | €465 | ▼ 96.4% |
| Recurring financial charges65 | €741 | €26,986 | €42,378 | €13,062 | €465 | ▼ 96.4% |
| Debt charges650 | - | €25,826 | €41,497 | €12,203 | - | - |
| Other financial charges652/9 | €741 | €1,161 | €882 | €859 | €465 | ▼ 45.9% |
| Profit (loss) for the period before taxes9903 | -€4.4m | €283,496 | €1.2m | €2.2m | €1.1m | ▼ 51.3% |
| Income taxes67/77 | €709 | €817 | €31,594 | €56,112 | €6,550 | ▼ 88.3% |
| Taxes670/3 | €709 | €817 | €31,594 | €56,120 | €6,550 | ▼ 88.3% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €8 | - | - |
| Profit (loss) for the period9904 | -€4.4m | €282,679 | €1.2m | €2.2m | €1.1m | ▼ 50.3% |
| Profit (loss) for the period to be appropriated9905 | -€4.4m | €282,679 | €1.2m | €2.2m | €1.1m | ▼ 50.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.4m | €3.4m | €3.8m | €4.5m | €5.8m | ▲ 27.8% |
| Fixed assets21/28 | €113,451 | €146,698 | €120,238 | €101,799 | €87,992 | ▼ 13.6% |
| Tangible fixed assets22/27 | €63,451 | €96,698 | €70,238 | €51,799 | €17,992 | ▼ 65.3% |
| Plant, machinery and equipment23 | €5,771 | €1,793 | €1,114 | €779 | €540 | ▼ 30.7% |
| Furniture and vehicles24 | €57,680 | €94,905 | €69,124 | €51,020 | €17,452 | ▼ 65.8% |
| Financial fixed assets28 | €50,000 | €50,000 | €50,000 | €50,000 | €70,000 | ▲ 40.0% |
| Other financial fixed assets284/8 | €50,000 | €50,000 | €50,000 | €50,000 | €70,000 | ▲ 40.0% |
| Shares284 | €50,000 | €50,000 | €50,000 | €50,000 | €70,000 | ▲ 40.0% |
| Current assets29/58 | €3.2m | €3.2m | €3.7m | €4.4m | €5.7m | ▲ 28.7% |
| Amounts receivable after more than one year29 | - | - | €453,865 | €409,482 | €367,379 | ▼ 10.3% |
| Other amounts receivable291 | - | - | €453,865 | €409,482 | €367,379 | ▼ 10.3% |
| Amounts receivable within one year40/41 | €3.2m | €3.2m | €3.2m | €4.0m | €5.3m | ▲ 32.7% |
| Trade receivables40 | €2.9m | €3.2m | €3.1m | €2.8m | €2.7m | ▼ 2.2% |
| Other amounts receivable41 | €309,206 | €39,890 | €105,082 | €1.2m | €2.6m | ▲ 110% |
| Deferred charges and accrued income490/1 | €1,380 | €1,630 | €1,136 | €616 | €1,729 | ▲ 181% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.4m | €3.4m | €3.8m | €4.5m | €5.8m | ▲ 27.8% |
| Equity10/15 | €282,901 | €565,580 | €1.7m | €3.4m | €4.5m | ▲ 31.4% |
| Contributions10/11 | €2.4m | €2.4m | €2.4m | €2.4m | €2.4m | = |
| Capital10 | €2.4m | €2.4m | €2.4m | €2.4m | €2.4m | = |
| Issued capital100 | €2.4m | €2.4m | €2.4m | €2.4m | €2.4m | = |
| Reserves13 | €242,500 | €242,500 | €242,500 | €242,500 | €242,500 | = |
| Non-distributable reserves130/1 | €242,500 | €242,500 | €242,500 | €242,500 | €242,500 | = |
| Legal reserve130 | €242,500 | €242,500 | €242,500 | €242,500 | €242,500 | = |
| Profit (loss) carried forward14 | -€2.4m | -€2.1m | -€951,771 | €734,145 | €1.8m | ▲ 146% |
| Amounts payable17/49 | €3.1m | €2.8m | €2.1m | €1.1m | €1.3m | ▲ 16.7% |
| Amounts payable within one year42/48 | €3.1m | €2.8m | €2.1m | €1.1m | €1.3m | ▲ 16.7% |
| Trade debts44 | €1.1m | €975,201 | €1.3m | €658,127 | €1.3m | ▲ 95.8% |
| Suppliers440/4 | €1.1m | €975,201 | €1.3m | €658,127 | €1.3m | ▲ 95.8% |
| Taxes, remuneration and social security45 | €110,435 | €92,900 | €132,465 | - | €22,468 | - |
| Taxes450/3 | €21,058 | €21,069 | €51,704 | - | €12,331 | - |
| Remuneration and social security454/9 | €89,378 | €71,831 | €80,761 | - | €10,137 | - |
| Other amounts payable47/48 | €1.8m | €1.7m | €604,716 | €465,000 | - | - |
| Accrued charges and deferred income492/3 | €48 | €38 | €152 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4.4m | €282,679 | €1.2m | €2.2m | €1.1m | ▼ 50.3% |
| + Depreciation and write-downs630 | €26,401 | €26,901 | €24,376 | €22,484 | €11,943 | ▼ 46.9% |
| Operating cash flow (approximation) | -€4.3m | €309,580 | €1.2m | €2.2m | €1.1m | ▼ 50.3% |
| Investment in fixed assets (approximation) | - | -€60,148 | €2,084 | -€4,045 | €1,865 | ▲ 146% |
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
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
02-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 63 days late
2024
31-12
Financial
Liquidity doublescurrent ratio 3.94
Current ratio from 1.77 to 3.94; short-term debt falls from €2.1m to €1.1m.
31-12
Financial
Equity above €2mEq €3.4m ▲98.3%
3 profitable years in a row build equity to €3.4m.
19-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Equity above €1mEq €1.7m ▲203%
2 profitable years in a row build equity to €1.7m.
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Back to profitnet €282,679
Net result €282,679 after 2 loss-making years.
31-12
Financial
Equity above €500,000Eq €565,580 ▲99.9%
Equity rises from €282,901 to €565,580.
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Weakest financial yearnet -€4.4m
Net result drops to -€4.4m, the lowest in the series; recovery starts the following year.
24-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
Show earlier events
2020
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €2.7m
Net result €2.7m after one loss-making year.
31-12
Financial
Equity above €5mEq €5.3m ▲55.9%
Equity rises from €3.4m to €5.3m.
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
13-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
12-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 18 acts read
About the unread acts
We know of 18 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
18 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, Wingene · 1 establishment unit since 2000
Ground area
2,857 m²
Building footprint
204 m²
Parcel 37018B0586/00A002, Flanders. Linked by address, not a title deed.
12
companies at this address
See who is registered here
1 establishment unit
Hillesteenweg 54, 8750 Wingene
since 20002.041.625.217
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37018B0586/00A002 | Flanders | 2,857 m² | 1 · 204 m² | - |
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
Part of the group
Suslino
19 companies
Group, risk and exposure
Owners and holdings
2 ownersChain of control
Highest known parent: Suslino. The sources do not say who stands above it.
Owners 2
- HAPROCOparentSourceaccounts HAPROCO 202599.99%
-
0.01%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 114 EUR awarded · 114 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 114 EUR | 114 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 siteWingene2.041.625.217
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Of 689 companies in sector 46216 we hold annual accounts for 476. 298 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded04-01-1989
Fiscal year end31-12
Activities, NACEBEL 2025
46216Wholesale of agricultural produce and animal feed, general range
46231Wholesale of live animals
01462Crop and animal production, hunting and related service activities
01461Pig breeding farms
E-invoicing
Reachable via Peppol
Peppol ID
0208:0436192469
Registered
17-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.