Harmony & Co
ActiveSummary
The computed 12-month bankruptcy probability of Harmony & Co is 1.9% (moderate). The 2025 annual accounts show equity of €38,363 and a net result of -€14,827. Equity remains stable across the filed fiscal years (±0.4% per year). Its solvency ranks better than 33% of 18606 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability37▼-33
Solvency39▼-18
Growth52=
Track record100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days only on tighter terms
Liquidity tight (current ratio 1.15 against 1.49 in 2024; short-term debt: 71.7% and cash: 15.9% of total assets), and 85.6% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2025Solvency, return and age of the figures
Solvency
14.4%
Return on assets
-5.6%
Age of the figures
9 mo
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 · 6 filingsDeviation from the deadline
2025
31 d late
2024
56 d late
2023
30 d late
2022
25 d late
2021
30 d late
2020
31 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 34 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€38,363▼ 27.9%
2024 · €53,190
Total assets
€265,779▲ 61.3%
2024 · €164,813
Net result
-€14,827
2024 · €1,622
Working capital
€28,081▼ 42.5%
2024 · €48,876
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Line20212022202320242025
Operating result€50,332▲ 254%€2,050▼ 95.9%€26,706▲ 1,203%€15,704▼ 41.2%-€979
Net result€39,036above the sector's middle half▲ 262%-€1,006within the sector's middle half€13,433within the sector's middle half€1,622within the sector's middle half▼ 87.9%-€14,827below the sector's middle half
Equity€52,575within the sector's middle half▲ 288%€51,569within the sector's middle half▼ 1.9%€51,569within the sector's middle half=€53,190within the sector's middle half▲ 3.1%€38,363within the sector's middle half▼ 27.9%
Total assets€80,127within the sector's middle half▲ 226%€90,089within the sector's middle half▲ 12.4%€134,231within the sector's middle half▲ 49.0%€164,813within the sector's middle half▲ 22.8%€265,779within the sector's middle half▲ 61.3%
Debt€27,552▲ 150%€38,520▲ 39.8%€82,662▲ 115%€111,622▲ 35.0%€227,416▲ 104%
Working capital€52,235within the sector's middle half▲ 302%€37,590within the sector's middle half▼ 28.0%€45,936within the sector's middle half▲ 22.2%€48,876within the sector's middle half▲ 6.4%€28,081within the sector's middle half▼ 42.5%
Solvency65.6%above the sector's middle half▲ 10.5pp57.2%within the sector's middle half▼ 8.4pp38.4%within the sector's middle half▼ 18.8pp32.3%within the sector's middle half▼ 6.1pp14.4%within the sector's middle half▼ 17.8pp
Current ratio2.90above the sector's middle half▲ 0.721.98within the sector's middle half▼ 0.921.66within the sector's middle half▼ 0.311.49within the sector's middle half▼ 0.181.15within the sector's middle half▼ 0.34
Return on assets (ROA)48.7%above the sector's middle half▲ 4.8pp-1.1%within the sector's middle half▼ 49.8pp10.0%within the sector's middle half▲ 11.1pp1.0%within the sector's middle half▼ 9.0pp-5.6%below the sector's middle half▼ 6.6pp
Staff (FTE)2.1
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, 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 turns negative in 2025: a loss of €979 after €15,704 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €265,779
Fixed assets
€47,021 ▲ 208%
Current assets
€218,758 ▲ 46.3%
Equity and liabilities €265,779
Equity
€38,363 ▼ 27.9%
Debt
€227,416 ▲ 104%
Debt's share of the balance-sheet total rises from 67.7% to 85.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€14,074▼
2024 · €25,727
Cash flow
€225▼
2024 · €11,645
Quick ratio
0.96▼
2024 · 1.49
Debt to equity
5.93▲
2024 · 2.10
ROE
-38.6%▼
2024 · 3.0%
Interest coverage
3.08▼
2024 · 9.64
Debt ≤ 1 year
€190,678▲
2024 · €100,683
Debt > 1 year
€36,739▲
2024 · €10,939
Income taxes
€9,280▼
2024 · €11,448
Staff costs
€63,762▲
2024 · €13,755
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,549 companies that looked in July 2024 the way this one looks now, 3.9% went bankrupt within 24 months and 91% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a small loss
3.9%
went bankrupt
3.7%
stopped otherwise
91%
still going
A further 1.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.9% 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 497,662 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% | 1.7% |
| 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 75% 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 1,549 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €1,058 | €1,550 | €1,047 | €979 | ▼ 6.5% |
| Remuneration, social security and pensions62 | - | - | - | €13,755 | €63,762 | ▲ 364% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €206 | €5,033 | €12,551 | €10,023 | €15,053 | ▲ 50.2% |
| Other operating charges640/8 | €2,993 | €2,115 | €15,934 | €1,590 | €2,856 | ▲ 79.6% |
| Non-recurring operating charges66A | €386 | €234 | €1,633 | €2,103 | €2,934 | ▲ 39.5% |
| Gross operating margin9900 | €53,917 | €9,431 | €56,824 | €43,176 | €83,626 | ▲ 93.7% |
| Operating profit (loss)9901 | €50,332 | €2,050 | €26,706 | €15,704 | -€979 | ▼ 106% |
| Financial income75/76B | €157 | €143 | €1,989 | €33 | €6 | ▼ 83.1% |
| Recurring financial income75 | €157 | €143 | €1,989 | €33 | €6 | ▼ 83.1% |
| Financial charges65/66B | €622 | €1,689 | €1,560 | €2,668 | €4,574 | ▲ 71.5% |
| Recurring financial charges65 | €622 | €1,689 | €1,560 | €2,668 | €4,574 | ▲ 71.5% |
| Profit (loss) for the period before taxes9903 | €49,867 | €504 | €27,135 | €13,069 | -€5,548 | ▼ 142% |
| Income taxes67/77 | €10,831 | €1,510 | €13,702 | €11,448 | €9,280 | ▼ 18.9% |
| Profit (loss) for the period9904 | €39,036 | -€1,006 | €13,433 | €1,622 | -€14,827 | ▼ 1,014% |
| Profit (loss) for the period to be appropriated9905 | €39,036 | -€1,006 | €13,433 | €1,622 | -€14,827 | ▼ 1,014% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €80,127 | €90,089 | €134,231 | €164,813 | €265,779 | ▲ 61.3% |
| Fixed assets21/28 | €339 | €13,979 | €18,826 | €15,254 | €47,021 | ▲ 208% |
| Tangible fixed assets22/27 | €339 | €13,049 | €17,896 | €14,324 | €46,091 | ▲ 222% |
| Furniture and vehicles24 | €339 | €13,049 | €17,896 | €14,324 | €46,091 | ▲ 222% |
| Financial fixed assets28 | - | €930 | €930 | €930 | €930 | = |
| Current assets29/58 | €79,787 | €76,110 | €115,405 | €149,559 | €218,758 | ▲ 46.3% |
| Stocks and contracts in progress3 | - | - | - | - | €34,782 | - |
| Stocks30/36 | - | - | - | - | €34,782 | - |
| Amounts receivable within one year40/41 | €77,819 | €69,706 | €103,214 | €74,480 | €135,203 | ▲ 81.5% |
| Trade receivables40 | €23,401 | €19,534 | €67,693 | €47,094 | €97,946 | ▲ 108% |
| Other amounts receivable41 | €54,418 | €50,171 | €35,521 | €27,387 | €37,257 | ▲ 36.0% |
| Cash at bank and in hand54/58 | €1,949 | €6,286 | €11,134 | €71,981 | €42,261 | ▼ 41.3% |
| Deferred charges and accrued income490/1 | €19 | €119 | €1,057 | €3,098 | €6,512 | ▲ 110% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €80,127 | €90,089 | €134,231 | €164,813 | €265,779 | ▲ 61.3% |
| Equity10/15 | €52,575 | €51,569 | €51,569 | €53,190 | €38,363 | ▼ 27.9% |
| Contributions10/11 | €2,750 | €2,750 | €2,750 | €2,750 | €2,750 | = |
| Profit (loss) carried forward14 | €49,825 | €48,819 | €48,819 | €50,440 | €35,613 | ▼ 29.4% |
| Amounts payable17/49 | €27,552 | €38,520 | €82,662 | €111,622 | €227,416 | ▲ 104% |
| Amounts payable after more than one year17 | - | - | €13,193 | €10,939 | €36,739 | ▲ 236% |
| Financial debts170/4 | - | - | €13,193 | €10,939 | €36,739 | ▲ 236% |
| Amounts payable within one year42/48 | €27,552 | €38,520 | €69,469 | €100,683 | €190,678 | ▲ 89.4% |
| Current portion of amounts payable after more than one year42 | - | - | €2,127 | €2,254 | €10,173 | ▲ 351% |
| Trade debts44 | €5,429 | €12,458 | €31,723 | €38,210 | €95,589 | ▲ 150% |
| Suppliers440/4 | €5,429 | €12,458 | €31,723 | €38,210 | €95,589 | ▲ 150% |
| Advances received on contracts in progress46 | €5,980 | - | - | €13,268 | - | - |
| Taxes, remuneration and social security45 | €16,143 | €19,063 | €18,286 | €25,342 | €27,786 | ▲ 9.6% |
| Taxes450/3 | €16,143 | €19,063 | €18,286 | €25,150 | €20,727 | ▼ 17.6% |
| Remuneration and social security454/9 | - | - | - | €193 | €7,059 | ▲ 3,562% |
| Other amounts payable47/48 | - | €7,000 | €17,333 | €21,608 | €57,130 | ▲ 164% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €39,036 | -€1,006 | €13,433 | €1,622 | -€14,827 | ▼ 1,014% |
| + Depreciation and write-downs630 | €206 | €5,033 | €12,551 | €10,023 | €15,053 | ▲ 50.2% |
| Operating cash flow (approximation) | €39,242 | €4,027 | €25,984 | €11,645 | €225 | ▼ 98.1% |
| Investment in fixed assets (approximation) | - | -€18,673 | -€17,399 | -€6,451 | -€46,820 | ▼ 626% |
| Change in cash | - | €4,337 | €4,848 | €60,847 | -€29,720 | ▼ 149% |
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
17-09
State Gazette act
General meeting · Director in officeRegistered-office move · Power of attorney5 facts ▸
State Gazette act
General meeting · Director in office
Registered-office move · Power of attorney5 facts ▸
- General meeting, 01-07-2026
- Director in office, DEMIR SENEOL (director)
- Registered-office move, Weiveldlaan 41 blok D - 1930 Zaventem
- Power of attorney, SECUREX Guichet d'Entreprises Go-Start
- Other statement, quorum, vergadering kan geldig beraadslagen
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet -€14,827
Net result drops to -€14,827, the lowest in the series.
25-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 56 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Back to profitnet €13,433
Net result €13,433 after one loss-making year.
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Highest result since 2020net €39,036 ▲262%
Operating result €50,332, net result €39,036, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 5 acts read
About the unread acts
Of the 5 Belgian State Gazette acts we know for this company, 1 has been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Zaventem · 1 establishment unit since 2019
Ground area
2.9 ha
Building footprint
1.6 ha
Volume, LiDAR
141,916 m³
2 parcels, Flanders · tallest building 13.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Harmony & Co
since 20192.296.570.218
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23057C0046/00T000 | Flanders | 2.9 ha | 1 · 1.5 ha | 11.8 m · 3 fl. |
| 23078C0089/00T000indicative | Flanders | 480 m² | 1 · 215 m² | 13.0 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
3 categoriesHarmony & Co BV41720
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Of 380 companies in sector 47529 we hold annual accounts for 271. 190 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded10-12-2019
Fiscal year end31-12
Activities, NACEBEL 2025
47529Retail trade
41001General construction of residential buildings
43240Other construction installation
47120Other non-specialised retail sale
E-invoicing
Reachable via Peppol
Peppol ID
0208:0738924917
Also
9925:BE0738924917
Registered
16-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.