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HATS

Active
Public limited companyfounded 199036 yrs activeLouizalaan 437, 1050 Brussel, BelgiumKBO/BCE: BE 0440.721.181
Summary

HATS has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €681,709 and a net result of -€35,963. Equity is growing by ~4.5% per year across the filed fiscal years. Its solvency ranks better than 95% of 49 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Risk analysisWatch ReportCompare
HATSActiveChecked score 95/100
Risk analysis ReportCompare

Overview

Activity
Manufacture of wearing apparel
NACE 14299NACE 14199NACE 18244
#4 company by equity in the Brussels-Capital Region, Clothing sector1 site
Size
€697,607total assets 2025
Equity
€681,709
Loss
-€35,963
Financial health
95 Excellent Checked score 2025
Bankruptcy chance 12 m
0.1%
Structure
Board
1 member
Holdings
1
Accounts 56 d early1 of 7 deeds read
Why 95- Loss of €35,963, the second in a row (FY 2025)+ Size: total assets €697,607+ Equity €681,709 (97.7% of total assets)+ Founded in 1990Show the evidence

Checked score

Score 2025
95 / 100
Excellent
Probability in this band: under 0.55%
Better than 56% of its sector peers (NACE 14, micro)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Average
Solvency 100=
equity 97.7% of total assets
Liquidity 60-21
short-term debt 2.1% · cash 7.6%
Profitability 12-56
return on assets -5.2%
Bankruptcy probability, 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (317 companies)
Last 24 months 11-2024: < 0.1% 12-2024: < 0.1%● 0.0% vs 11-2024 01-2025: < 0.1%● 0.0% vs 12-2024 02-2025: < 0.1%● 0.0% vs 01-2025 03-2025: < 0.1%▲ +2.2% vs 02-2025 04-2025: < 0.1%▲ +4.3% vs 03-2025 05-2025: < 0.1%● 0.0% vs 04-2025 06-2025: 0.1%▲ +12.5% vs 05-2025 07-2025: < 0.1%▼ -50.0% vs 06-2025lowest value 08-2025: < 0.1%● 0.0% vs 07-2025lowest value 09-2025: < 0.1%● 0.0% vs 08-2025lowest value 10-2025: < 0.1%● 0.0% vs 09-2025lowest value 11-2025: < 0.1%● 0.0% vs 10-2025lowest value 12-2025: < 0.1%● 0.0% vs 11-2025lowest value 01-2026: < 0.1%● 0.0% vs 12-2025lowest value 02-2026: < 0.1%● 0.0% vs 01-2026lowest value 03-2026: < 0.1%▲ +3.7% vs 02-2026 04-2026: < 0.1%● 0.0% vs 03-2026 05-2026: < 0.1%● 0.0% vs 04-2026 06-2026: < 0.1%▲ +7.1% vs 05-2026 07-2026: 0.1%▲ +123% vs 06-2026highest value 08-2026: 0.1%● 0.0% vs 07-2026highest value 09-2026: 0.1%● 0.0% vs 08-2026highest value 10-2026: 0.1%● 0.0% vs 09-2026highest value
  • Loss of €35,963, the second in a row (FY 2025) raises the probability
  • Size: total assets €697,607 lowers the probability for this profile
  • Equity €681,709 (97.7% of total assets) lowers the probability
  • Founded in 1990 lowers the probability for this profile
Credit up to €60,000 at 30 days acceptable
Liquidity ample (current ratio 12.19 against 24.6 in 2024; short-term debt: 2.1% and cash: 7.6% of total assets), and 2.3% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 14, micro). Better than this share of them on solvency 90%, liquidity 68%, profitability 29%, growth against the median 38%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 04-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Loss of €35,963, the second in a row (FY 2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
lowers risk · Size: total assets €697,607
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
lowers risk · Equity €681,709 (97.7% of total assets)
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
lowers risk · Founded in 1990
In the bankruptcy model this factor lowers the probability for this profile.
KBO
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025
Net result per financial year
1819202122232425
2018 to 2025 · latest year -€35,963
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 05-06-2026, 56 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
56 d early
2024
41 d early
2023
22 d late
2022
70 d early
2021
30 d late
2020
33 d early
2019
21 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 24 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% 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. Usually files around 20 June (4 of the last 5 filed years within 64 days of that day).
Companies Code · seven months
Position in the running window
05-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · 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
  1. Reappointment: Hats Intemational (director)Permanent representative: Pompilio Elviso
  2. Annual accounts filedfiscal year 2025 · full…
  3. Weakest financial yearnet -€35,963

Key points

  • Positive: Among the best 5% on solvencysector median 45.4% · 49 companies 97.7% View
  • Caution: 2 loss-making years in a rowloss fiscal year 2025 -€35,963 View
  • New directorlatest change 18-05-2026 · 1 in office 1 joined View

By topic

Financials

Fiscal year
2025
Total assets
€697,607
Loss
-€35,963
Solvency
97.7%
Total assets▼ 3.9%
Net result
20182025
Go to Financials

Timeline

Events
16
Since
2017
Next accounts
by 31-07-2027
  1. 23-06-2026Reappointment: Hats Intemational (director)
  2. 05-06-2026Annual accounts filed
  3. 31-12-2025Weakest financial year
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Manufacture of wearing apparelNACE 14299
Founded
22-05-1990
Year ends
31-12
Peppol
Not found in the Peppol directory
Go to Company details

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