HARDWHERE
ActiveHARDWHERE has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €304k and a net result of €-31k. Equity is growing by ~40% per year across the filed fiscal years. Its solvency ranks better than 45% of 908 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
54
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability25▼-65
Solvency58▼-22
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €16k at 30 days acceptable
Liquidity ample (current ratio 1.8 against 4.52 in 2024; short-term debt: 45.3% and cash: 22.2% of total assets), but 66.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 77
Relative position
BE, all sectors
reference
Sector 77
higher
← fewer bankruptcies
more bankruptcies →
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 filingsDeviation from the deadline
2025
31 d late
2024
31 d late
2023
29 d late
2022
29 d late
2021
23 d late
2020
30 d late
2019
56 d late
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-31k
2024 · €103k
2018: €-14k
2019: €37k
2020: €-15k
2021: €98k
2022: €147k
2023: €11k
2024: €103k
2018 → 2025
Working capital
€331k▲ 4.8%
2024 · €316k
2018: €-65k
2019: €-35k
2020: €-54k
2021: €-110k
2022: €55k
2023: €81k
2024: €316k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€73k-€221k▲ 200%€232k▲ 5.0%€334k▲ 44.4%€304k▼ 9.2%
Operating result€101k-€150k▲ 49.1%€23k▼ 84.4%€108k▲ 362%€2k▼ 97.8%
Net result€98k-€147k▲ 50.6%€11k▼ 92.5%€103k▲ 828%€-31k
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 98% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €916k
Fixed assets
€170k▼ 17.0%
Current assets
€746k▲ 83.8%
Equity and liabilities €916k
Equity
€304k▼ 9.2%
Debt
€612k▲ 122%
The debt ratio rises from 45.2% to 66.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€35k▼
2024 · €144k
Cash flow
€2k▼
2024 · €139k
Solvency
33.1%▼
2024 · 54.8%
Current ratio
1.80▼
2024 · 4.52
Quick ratio
1.80▼
2024 · 4.52
Debt / equity
2.02▲
2024 · 0.83
ROE
-10.2%▼
2024 · 30.7%
ROA
-3.4%▼
2024 · 16.8%
Interest coverage
1.25▼
2024 · 60.19
Debt
€612k▲
2024 · €276k
Debt ≤ 1 year
€415k▲
2024 · €90k
Debt > 1 year
€70k▼
2024 · €77k
Income taxes
€9k▲
2024 · €3k
Staff costs
€147k▲
2024 · €139k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€611k€916k▲
Fixed assets21/28€205k€170k▼
Intangible fixed assets21€61k€28k▼
Tangible fixed assets22/27€131k€129k▼
Land and buildings22€131k€126k▼
Furniture and vehicles24-€378
Assets under construction and advance payments27-€2k
Financial fixed assets28€13k€13k=
Current assets29/58€406k€746k▲
Amounts receivable within one year40/41€169k€388k▲
Trade receivables40€130k€66k▼
Other amounts receivable41€39k€322k▲
Current investments50/53-€152k
Cash at bank and in hand54/58€237k€203k▼
Deferred charges and accrued income490/1€123€3k▲
Equity and liabilities
Total equity and liabilities10/49€611k€916k▲
Equity10/15€334k€304k▼
Contributions10/11€86k€86k=
Reserves13€21k€248k▲
Non-distributable reserves130/1-€229k
Financial assistance1313-€229k
Tax-exempt reserves132€19k€19k=
Distributable reserves133€2k-
Profit (loss) carried forward14€228k€-30k▼
Amounts payable17/49€276k€612k▲
Amounts payable after more than one year17€77k€70k▼
Financial debts170/4€77k€70k▼
Amounts payable within one year42/48€90k€415k▲
Current portion of amounts payable after more than one year42€7k€7k▼
Trade debts44€18k€34k▲
Suppliers440/4€18k€34k▲
Taxes, remuneration and social security45€56k€71k▲
Taxes450/3€39k€55k▲
Remuneration and social security454/9€17k€16k▼
Other amounts payable47/48€9k€303k▲
Accrued charges and deferred income492/3€110k€127k▲
Income statement
Code20242025
Remuneration, social security and pensions62€139k€147k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€36k€33k▼
Other operating charges640/8€2k€2k▲
Gross operating margin9900€286k€184k▼
Operating profit (loss)9901€108k€2k▼
Financial income75/76B€46€4k▲
Recurring financial income75€46€4k▲
Financial charges65/66B€2k€28k▲
Recurring financial charges65€2k€28k▲
Profit (loss) for the period before taxes9903€106k€-22k▼
Income taxes67/77€3k€9k▲
Profit (loss) for the period9904€103k€-31k▼
Profit (loss) for the period to be appropriated9905€103k€-31k▼
Appropriation of the result
Profit (loss) to be appropriated9906€228k€197k▼
Profit (loss) brought forward from the previous period14P€125k€228k▲
Transfer from equity791/2-€2k
Transfer to equity691/2-€229k
To other reserves6921-€229k
The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet €-31k ▼130%
Net result drops to €-31k, the lowest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 31 days late
2024
31-12
Financial
Liquidity quadruplescurrent ratio 4.52
Current ratio from 1.25 to 4.52; short-term debt falls from €323k to €90k.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
31-12
Financial
Highest result since 2018net €147k ▲50.6%
Operating result €150k, net result €147k, both a record.
31-12
Financial
Equity above €200kEq €221k ▲200%
2 profitable years in a row build equity to €221k.
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 23 days late
2021
31-12
Financial
Back to profitnet €98k
Net result €98k after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
25-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 56 days late
2019
31-12
Financial
Back to profitnet €37k
Net result €37k after one loss-making year.
13-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 13 days late
2018
11-07
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
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
9 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, Elsene · 1 establishment unit since 2005
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.
Renbaanlaan 961050 ElseneGround area
1,321 m²
Building footprint
325 m²
Volume, LiDAR
5,617 m³
Parcel 21443C0190/03B003, Brussels · tallest building 20.6 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
Renbaanlaan 96, 1050 Elsene
since 20052.228.117.318
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21443C0190/03B003 | Brussels | 1,321 m² | 1 · 325 m² | 20.6 m · 6 fl. |
Linked by address, not proof of ownership
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.
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SCHADENET BELGIE
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Dr. Baumann International Holding
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Of 421 companies in sector 77400 we hold annual accounts for 151. 95 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded22-01-2003
Fiscal year end31-12
Activities, NACEBEL
77400Rental and leasing activities
58110Book publishing
85599Other education
Sources
Crossroads Bank for EnterprisesNational Bank · 23 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.