Checked.be
Active
BE 0433.916.236Private limited company
HARDWARE ELECTRONICS
Klein Heiken 43 ·2950 Kapellen, Belgium· 38 yrs active
Sector: Computer programming
(62100)
Conclusion
HARDWARE ELECTRONICS has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €288k and a net result of €1k. Equity remains stable across the filed fiscal years (±1.3% per year). Its solvency ranks better than 86% of 20795 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Based on the State Gazette, CBE and 3 annual accounts.
Key figures
| Equity | €288k |
| Net result | €1k |
| Better than sector | 86% |
| Active | 38 yrs |
Financial profile
71
/ 100
Strong profile, led by solvency.
All 5 axes are computed from data Checked has read.
Health
94
Profitability
2
Solvency
100
Growth
58
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1988, 38 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
94
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€25k
estimate, not credit advice
Score history
73
2022
52
2023
94
2024
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 9.08 (≥ 1.5)
+10
Quick ratio
Quick ratio 9.07 (≥ 1.0)
+5
Leverage
Debt/equity 0.12 (< 1.0)
+10
Profitability
ROE 0%
+3
Interest coverage
Interest coverage 27.5× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Financial overview
Annual accounts filed on 29-09-2025 with the NBB · fiscal year 2024 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
stable
Equity: stable across 3 fiscal years (±1.3%/year).
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2024 · NACE 62, Computer programming, consultancy and related activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 89.2% | 62.9% | |
| Net result | €1k | €27k | |
| Equity | €288k | €74k | |
| Gross operating margin | €5k | €53k | |
| Total assets | €323k | €136k |
€4k
-
22-24
€1k
-
22-24
€5k
-
22-24
€323k
+0.3%
22-24
€288k
+0.4%
22-24
€283k
+0.6%
22-24
€362
-1.7%
22-24
€35k
-0.5%
22-24
€35k
-0.5%
22-24
9.08
+1.0%
22-24
9.07
+1.0%
22-24
89.2%
+0.1%
22-24
0.12
-0.9%
22-24
0.4%
-
22-24
0.4%
-
22-24
27.51
-
22-24
Figures by fiscal year and ratios
| Fiscal year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema |
| Revenue | - | - | - |
| EBITDA | €4k | €-5k | €4k |
| Net profit | €1k | €-8k | €-3k |
| Cash flow | €5k | €-4k | €3k |
| Staff costs | - | - | - |
| Income taxes | €362 | €368 | €371 |
| Dividends | - | - | - |
| Total assets | €323k | €322k | €340k |
| Equity | €288k | €287k | €295k |
| Debt | €35k | €35k | €44k |
| of which ≤ 1y | €35k | €35k | €44k |
| of which > 1y | - | - | - |
| Working capital | €283k | €282k | €288k |
| Employees (FTE) | - | - | - |
Ratios (computed)
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Current ratio | 9.08 | 9.00 | 7.51 |
| Quick ratio | 9.07 | 8.98 | 7.50 |
| Working capital ratio | 87.7% | 87.4% | 84.9% |
| Solvency | 89.2% | 89.1% | 87.0% |
| Debt / equity | 0.12 | 0.12 | 0.15 |
| Long-term debt ratio | - | - | - |
| Interest coverage | 27.51 | -23.01 | 22.52 |
| Gross margin | - | - | - |
| Net margin | - | - | - |
| ROA | 0.4% | -2.6% | -0.9% |
| ROE | 0.4% | -3.0% | -1.0% |
| EBITDA margin | - | - | - |
| Days sales outstanding | - | - | - |
| Days payable outstanding | - | - | - |
| Inventory turnover | - | - | - |
| Days inventory (DSI) | - | - | - |
Balance-sheet composition 2024
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Balance sheet, Assets | ||||
| TOTAL ASSETS | 20/58 | €323k | €322k | €340k |
| Fixed assets | 21/28 | €5k | €5k | €7k |
| Tangible fixed assets | 22/27 | €5k | €5k | €7k |
| Current assets | 29/58 | €318k | €317k | €332k |
| Stocks & contracts in progress | 3 | €595 | €645 | €685 |
| Amounts receivable within one year | 40/41 | €8k | €7k | €14k |
| Cash & bank | 54/58 | €308k | €307k | €316k |
| Balance sheet, Equity & liabilities | ||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €323k | €322k | €340k |
| Equity | 10/15 | €288k | €287k | €295k |
| Contributions / capital | 10/11 | €19k | €19k | €19k |
| Reserves | 13 | €295k | €295k | €295k |
| Accumulated profits (losses) | 14 | €-26k | €-27k | €-19k |
| Amounts payable | 17/49 | €35k | €35k | €44k |
| Amounts payable within one year | 42/48 | €35k | €35k | €44k |
| Trade debts payable within one year | 44 | €4k | €2k | €5k |
| Income statement | ||||
| Gross operating margin | 9900 | €5k | €-4k | €5k |
| Operating result | 9901 | €-109 | €-9k | €-3k |
| Financial income | 75 | €2k | €1k | - |
| Financial charges | 65 | €141 | €215 | €168 |
| Result before taxes | 9903 | €2k | €-8k | €-3k |
| Income taxes | 67/77 | €362 | €368 | €371 |
| Net result for the period | 9904 | €1k | €-8k | €-3k |
| Result to be appropriated | 9905 | €1k | €-8k | €-3k |
Legal Structure
| NACE primary | Computer programming(62100) |
| Legal form | Private limited company(610) |
| Incorporation | 31-03-1988 |
| Status | Active |
| Postal code | 2950 |
Establishment units
HARDWARE ELECTRONICS
since 19882.037.412.546
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11362N0363/00Z002 | Flanders | 400 m² | 1 · 113 m² | 9.2 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
2024
31-12
Financial
Back to profitnet €1k
Net result €1k after 2 loss-making years.
02-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 2 days late
2023
31-12
Financial
Weakest financial yearnet €-8k
Net result drops to €-8k, the lowest in the series; recovery starts the following year.
21-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 21 days late
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 92 days late
31-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 184 days late
2020
23-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 84 days late
2019
20-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 20 days late
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 60 days late
2016
28-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
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.
Credit advice
Company registry (CBE)
Activities
Computer programming, consultancy and related activities62010Computer programming6210072220
Names & trade names
| Legal nameNL | HARDWARE ELECTRONICS |
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