HARPAL

Active

Private limited companyfounded 20196 yrs activeRue Le Campinaire(FAR) 154, 6240 Farciennes, BelgiumKBO/BCE: BE 0738.571.757

The computed 12-month bankruptcy probability of HARPAL is 3.9% (moderate). The 2024 annual accounts show equity of €67k and a net result of €20k. Equity is growing by ~34.3% per year across the filed fiscal years. Its solvency ranks better than 71% of 26043 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

65 / 100

Healthy

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability90▲+19

Solvency83▲+15

Growth78=

Track record100

Bankruptcy probability, 12 months

3.9% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €4k at 30 days acceptable

Liquidity ample (current ratio 2.36 against 1.72 in 2023; short-term debt: 42% of total assets), and 42% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

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

Sector 47

higher

← fewer bankruptcies more bankruptcies →

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

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 2024

Solvency, return and age of the figures

Solvency

58%

Return on assets

17.3%

Age of the figures

21 mo

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 22-10-2025, 83 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 · 5 filings

Deviation from the deadline

2025

not confirmed

2024

83 d late

2023

321 d late

2022

98 d late

2021

368 d late

2020

193 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Equity

€67k▲ 42.7%

2023 · €47k

2020: €23k 2021: €25k 2022: €32k 2023: €47k

2020 → 2024

Total assets

€115k▲ 5.0%

2023 · €110k

2020: €78k 2021: €104k 2022: €124k 2023: €110k

2020 → 2024

Net result

€20k▲ 35.9%

2023 · €15k

2020: €3k 2021: €2k 2022: €7k 2023: €15k

2020 → 2024

Working capital

€66k▲ 45.3%

2023 · €45k

2020: €21k 2021: €23k 2022: €31k 2023: €45k

2020 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€23k-€25k▲ 8.3%€32k▲ 30.1%€47k▲ 45.8%€67k▲ 42.7%

Operating result€3k-€2k▼ 45.4%€8k▲ 403%€15k▲ 89.4%€20k▲ 39.8%

Net result€3k-€2k▼ 31.0%€7k▲ 291%€15k▲ 97.8%€20k▲ 35.9%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

After the dip in 2021 the operating result has climbed three years in a row; 2024 is 40% above 2023 and is the highest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €115k

99.1%

Fixed assets €1k▼ 35.0%

Current assets €114k▲ 5.6%

Equity and liabilities €115k

58.0%

42.0%

Equity €67k▲ 42.7%

Debt €48k▼ 23.0%

The debt ratio falls from 57.3% to 42.0%. Equity is higher and debt is lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€21k▲

2023 · €15k

Cash flow

€20k▲

2023 · €15k

Solvency

58.0%▲

2023 · 42.7%

Current ratio

2.36▲

2023 · 1.72

Quick ratio

0.92▲

2023 · 0.55

Debt / equity

0.72▼

2023 · 1.34

ROE

29.9%▼

2023 · 31.4%

ROA

17.3%▲

2023 · 13.4%

Interest coverage

62.49

Debt

€48k▼

2023 · €63k

Debt ≤ 1 year

€48k▼

2023 · €63k

Staff costs

€34k▼

2023 · €41k

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 · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€110k€115k▲

Fixed assets21/28€2k€1k▼

Tangible fixed assets22/27€605€65▼

Land and buildings22€605€65▼

Financial fixed assets28€940€940=

Current assets29/58€108k€114k▲

Stocks and contracts in progress3€73k€70k▼

Stocks30/36€73k€70k▼

Amounts receivable within one year40/41€7k€19k▲

Other amounts receivable41€7k€19k▲

Current investments50/53-€22k

Cash at bank and in hand54/58€27k-

Deferred charges and accrued income490/1-€4k

Equity and liabilities

Total equity and liabilities10/49€110k€115k▲

Equity10/15€47k€67k▲

Contributions10/11€20k€20k=

Capital10€20k€20k=

Issued capital100€20k€20k=

Reserves13€603€937▲

Non-distributable reserves130/1€603€937▲

Legal reserve130€603€937▲

Profit (loss) carried forward14€26k€46k▲

Amounts payable17/49€63k€48k▼

Amounts payable within one year42/48€63k€48k▼

Trade debts44€53k€38k▼

Suppliers440/4€53k€38k▼

Taxes, remuneration and social security45€10k€10k▲

Taxes450/3€10k€10k▲

Remuneration and social security454/9€41-

Income statement Code20232024

Remuneration, social security and pensions62€41k€34k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€540€540=

Other operating charges640/8€4k€6k▲

Gross operating margin9900€60k€61k▲

Operating profit (loss)9901€15k€20k▲

Financial income75/76B€168-

Recurring financial income75€168-

Financial charges65/66B-€333

Recurring financial charges65-€333

Profit (loss) for the period before taxes9903€15k€20k▲

Profit (loss) for the period9904€15k€20k▲

Profit (loss) for the period to be appropriated9905€15k€20k▲

Appropriation of the result

Profit (loss) to be appropriated9906€26k€46k▲

Profit (loss) brought forward from the previous period14P€11k€26k▲

Transfer to equity691/2-€334

To the legal reserve6920-€334

The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 8Financial 2Gazette 1Filings 5

2026

25-03

State Gazette act Capital & shares · Resignations & appointments

General meeting · Share transfer · Director appointment3 facts ▸

General meeting, 10/02/2026
Share transfer, Bibi Azra → Rehman Adeel
Director appointment, Rehman Abdul (Administrateur)

2025

22-10

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 83 days late

17-06

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 321 days late

2024

31-12

Financial Highest result since 2020net €20k ▲35.9%

Operating result €20k, net result €20k, both a record.

2023

06-11

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 98 days late

03-08

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 368 days late

2022

09-02

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 193 days late

2021

31-12

Financial Weakest financial yearnet €2k ▼31%

Net result drops to €2k, the lowest in the series; recovery starts the following year.

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

3 directors, no change since 2026

Rehman Abdul

Director · since 25-03-2026

Current

25-03-2026 Rehman Abdul: Appointed as Director

29-12-2025 Rehman Aleena: Resigned as Director

01-01-2025 Rehman Abdul: Resigned as Director

30-09-2023 Bibi Azra: Resigned as Director

Location & real-estate footprint

Registered office, Farciennes · 4 establishment units since 2020

establishment All 4 establishment units on the map

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.

Rue Le Campinaire(FAR) 1546240 Farciennes

Ground area

1,971 m²

Building footprint

243 m²

Volume, LiDAR

552 m³

4 parcels, Wallonia · tallest building 12.3 m, ±4 floors. Linked by address, not a title deed.

4 establishment units

Market plus

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4 parcels

Wallonia 4 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
52018A0105/00E003	Wallonia	1,619 m²	1 · 12 m²	7.5 m · 2 fl.
92053D0370/00C000	Wallonia	231 m²	1 · 130 m²	-
52502B0528/00P002	Wallonia	69 m²	1 · 56 m²	-
25112M0285/00A000	Wallonia	52 m²	1 · 45 m²	12.3 m · 4 fl.