Harmony
ActiveSummary
Harmony has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€160,939) and a net result of -€4,941. Equity is shrinking by ~15.2% per year across the filed fiscal years. Its solvency ranks better than 9% of 1856 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability65▲+65
Solvency0=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.02 against 0.06 in 2023; short-term debt: 91.9% and cash: 0% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-104.6%
Return on assets
-3.2%
Age of the figures
21 mo
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 55
Relative position
BE, all sectors
reference
Accommodation (NACE 55)
about 6% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year -€160,939
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-10-2025, 84 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
not confirmed
2024
84 d late
2023
64 d late
2022
61 d late
2021
9 d early
2020
61 d late
2019
15 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 46 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 45% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
-€160,939▼ 3.2%
2023 · -€155,998
Total assets
€153,815▼ 9.5%
2023 · €170,000
Net result
-€4,941▲ 93.4%
2023 · -€75,141
Working capital
-€138,374▼ 59.4%
2023 · -€86,823
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 55, Accommodation, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€23,952€33,201-€6,878-€73,741▼ 972%-€4,022▲ 94.5%
Net result-€25,976below the sector's middle half€30,830above the sector's middle half-€8,191within the sector's middle half-€75,141below the sector's middle half▼ 817%-€4,941within the sector's middle half▲ 93.4%
Equity-€103,496below the sector's middle half▼ 33.5%-€72,666below the sector's middle half▲ 29.8%-€80,857below the sector's middle half▼ 11.3%-€155,998below the sector's middle half▼ 92.9%-€160,939below the sector's middle half▼ 3.2%
Total assets€312,743within the sector's middle half▲ 82.4%€268,680within the sector's middle half▼ 14.1%€280,372within the sector's middle half▲ 4.4%€170,000within the sector's middle half▼ 39.4%€153,815within the sector's middle half▼ 9.5%
Debt€416,239▲ 67.2%€341,346▼ 18.0%€361,229▲ 5.8%€325,998▼ 9.8%€314,754▼ 3.4%
Working capital€81,766above the sector's middle half€70,251above the sector's middle half▼ 14.1%-€58,400within the sector's middle half-€86,823within the sector's middle half▼ 48.7%-€138,374within the sector's middle half▼ 59.4%
Solvency-33.1%below the sector's middle half▲ 12.1pp-27.0%below the sector's middle half▲ 6.0pp-28.8%below the sector's middle half▼ 1.8pp-91.8%below the sector's middle half▼ 62.9pp-104.6%below the sector's middle half▼ 12.9pp
Current ratio2.15above the sector's middle half▲ 1.702.21above the sector's middle half▲ 0.060.54within the sector's middle half▼ 1.670.06below the sector's middle half▼ 0.480.02below the sector's middle half▼ 0.04
Return on assets (ROA)-8.3%below the sector's middle half▼ 12.2pp11.5%above the sector's middle half▲ 19.8pp-2.9%within the sector's middle half▼ 14.4pp-44.2%below the sector's middle half▼ 41.3pp-3.2%within the sector's middle half▲ 41.0pp
Staff (FTE)0below the sector's middle half0.71.1▲ 57.1%0.9▼ 18.2%0.6▼ 33.3%
above
within
below
the middle half (P25 to P75) of NACE 55, Accommodation, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €4,022 in 2024 against €73,741 in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €153,815
Fixed assets
€150,798 ▼ 8.2%
Current assets
€3,017 ▼ 48.0%
Key figures and ratios
EBITDA
€36,393▲
2023 · -€27,022
Cash flow
€35,474▲
2023 · -€28,422
Debt to equity
-1.96▲
2023 · -2.09
Interest coverage
39.61▲
2023 · -19.30
Debt ≤ 1 year
€141,391▲
2023 · €92,623
Debt > 1 year
€173,363▼
2023 · €233,375
Staff costs
€12,512▼
2023 · €31,532
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,332 companies that looked in July 2024 the way this one looks now, 2.8% went bankrupt within 24 months and 91% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a small loss
2.8%
went bankrupt
5.8%
stopped otherwise
91%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.1% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 2,332 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €23,388 | €34,582 | €31,532 | €12,512 | ▼ 60.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37,472 | €36,328 | €49,438 | €46,719 | €40,415 | ▼ 13.5% |
| Other operating charges640/8 | - | €1,644 | €789 | €800 | €1,490 | ▲ 86.3% |
| Non-recurring operating charges66A | - | €0 | - | - | - | - |
| Gross operating margin9900 | €16,908 | €94,561 | €77,931 | €5,310 | €50,396 | ▲ 849% |
| Operating profit (loss)9901 | -€23,952 | €33,201 | -€6,878 | -€73,741 | -€4,022 | ▲ 94.5% |
| Recurring financial income75 | €371 | - | - | - | - | - |
| Financial charges65/66B | - | €2,309 | €1,313 | €1,400 | €919 | ▼ 34.4% |
| Recurring financial charges65 | €2,395 | €2,309 | €1,313 | €1,400 | €919 | ▼ 34.4% |
| Profit (loss) for the period before taxes9903 | -€25,976 | €30,892 | -€8,191 | -€75,141 | -€4,941 | ▲ 93.4% |
| Income taxes67/77 | - | €62 | - | - | - | - |
| Profit (loss) for the period9904 | -€25,976 | €30,830 | -€8,191 | -€75,141 | -€4,941 | ▲ 93.4% |
| Profit (loss) for the period to be appropriated9905 | -€25,976 | €30,830 | -€8,191 | -€75,141 | -€4,941 | ▲ 93.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €312,743 | €268,680 | €280,372 | €170,000 | €153,815 | ▼ 9.5% |
| Fixed assets21/28 | €159,738 | €140,458 | €210,918 | €164,200 | €150,798 | ▼ 8.2% |
| Tangible fixed assets22/27 | €158,313 | €138,783 | €209,243 | €162,525 | €149,123 | ▼ 8.2% |
| Plant, machinery and equipment23 | - | €20,185 | €22,813 | €10,407 | €8,699 | ▼ 16.4% |
| Furniture and vehicles24 | - | €20,546 | €15,409 | €10,273 | €5,137 | ▼ 50.0% |
| Other tangible fixed assets26 | - | €98,052 | €171,021 | €141,845 | €135,288 | ▼ 4.6% |
| Financial fixed assets28 | €1,425 | €1,675 | €1,675 | €1,675 | €1,675 | = |
| Current assets29/58 | €153,005 | €128,222 | €69,454 | €5,800 | €3,017 | ▼ 48.0% |
| Amounts receivable within one year40/41 | €17,974 | €122,839 | €66,999 | €4,364 | €3,004 | ▼ 31.2% |
| Trade receivables40 | - | €83,500 | €63,732 | €1,968 | €1,803 | ▼ 8.4% |
| Other amounts receivable41 | - | €39,339 | €3,267 | €2,396 | €1,201 | ▼ 49.9% |
| Cash at bank and in hand54/58 | €135,031 | €5,383 | €2,455 | €1,436 | €13 | ▼ 99.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €312,743 | €268,680 | €280,372 | €170,000 | €153,815 | ▼ 9.5% |
| Equity10/15 | -€103,496 | -€72,666 | -€80,857 | -€155,998 | -€160,939 | ▼ 3.2% |
| Contributions10/11 | €18,550 | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Capital10 | - | - | - | €18,550 | €18,550 | = |
| Issued capital100 | - | - | - | €18,550 | €18,550 | = |
| Profit (loss) carried forward14 | -€122,046 | -€91,216 | -€99,407 | -€174,548 | -€179,489 | ▼ 2.8% |
| Amounts payable17/49 | €416,239 | €341,346 | €361,229 | €325,998 | €314,754 | ▼ 3.4% |
| Amounts payable after more than one year17 | €345,000 | €283,375 | €233,375 | €233,375 | €173,363 | ▼ 25.7% |
| Financial debts170/4 | - | €283,375 | €233,375 | €233,375 | €173,363 | ▼ 25.7% |
| Amounts payable within one year42/48 | €71,239 | €57,971 | €127,854 | €92,623 | €141,391 | ▲ 52.7% |
| Trade debts44 | €1,098 | €1,131 | €66,131 | €4,341 | €4,175 | ▼ 3.8% |
| Suppliers440/4 | - | €1,131 | €66,131 | €4,341 | €4,175 | ▼ 3.8% |
| Advances received on contracts in progress46 | - | €53,041 | €44,760 | €30,660 | €14,506 | ▼ 52.7% |
| Taxes, remuneration and social security45 | - | €3,799 | €2,040 | €620 | €1,773 | ▲ 186% |
| Remuneration and social security454/9 | - | €3,799 | €2,040 | €620 | €1,773 | ▲ 186% |
| Other amounts payable47/48 | - | - | €14,923 | €57,002 | €120,937 | ▲ 112% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€25,976 | €30,830 | -€8,191 | -€75,141 | -€4,941 | ▲ 93.4% |
| + Depreciation and write-downs630 | €37,472 | €36,328 | €49,438 | €46,719 | €40,415 | ▼ 13.5% |
| Operating cash flow (approximation) | €11,496 | €67,158 | €41,247 | -€28,422 | €35,474 | ▲ 225% |
| Investment in fixed assets (approximation) | - | -€17,048 | -€119,898 | -€1 | -€27,013 | ▼ 3,069,574% |
| Change in cash | - | -€129,648 | -€2,928 | -€1,019 | -€1,423 | ▼ 39.7% |
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
2025
23-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 84 days late
2024
03-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 64 days late
2023
31-12
Financial
Weakest financial yearnet -€75,141
Net result drops to -€75,141, the lowest in the series; recovery starts the following year.
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
2022
22-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €30,830
Net result €30,830 after one loss-making year.
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
2020
31-12
Financial
Liquidity times 5current ratio 2.15
Current ratio from 0.45 to 2.15.
15-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 15 days late
2019
31-12
Financial
Back to profitnet €6,737
Net result €6,737 after one loss-making year.
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
09-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
19-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
12-07
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.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Kalmthout · 1 establishment unit since 2013
Ground area
5,688 m²
Building footprint
190 m²
Volume, LiDAR
865 m³
2 parcels, Flanders · tallest building 9.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Brasschaatsteenweg (C) 187, 2920 Kalmthout
since 20132.223.938.893
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11662E0356/00H000 | Flanders | 5,430 m² | 1 · 121 m² | 4.0 m · 1 fl. |
| 11022F0006/00N018 | Flanders | 257 m² | 1 · 69 m² | 9.3 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 2 entries · 5,839 EUR awarded · 5,839 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 0 EUR | 5,839 EUR |
| 2023 | 1 | 5,839 EUR | 0 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
894500H1QF2EL2TXM960
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 3,007 companies in sector 55203 we hold annual accounts for 694. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded04-11-2013
Fiscal year end31-12
Activities, NACEBEL 2025
55203Holiday cottages, homes and apartments
E-invoicing
Reachable via Peppol
Peppol ID
0208:0541626026
Also
9925:BE0541626026
Registered
02-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.