HAYSTACK
ActiveSummary
HAYSTACK has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.27M and a net result of €929k. Equity is growing by ~28.2% per year across the filed fiscal years. Its solvency ranks better than 50% of 709 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
74
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability90▲+1
Solvency67▲+11
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €160k at 30 days acceptable
Liquidity ample (current ratio 1.99 against 2.16 in 2024; short-term debt: 44.4% and cash: 8.7% of total assets), but 57.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
42.4%
Return on assets
17.3%
Age of the figures
9 mo
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 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
21 d early
2023
12 d early
2022
35 d early
2021
30 d early
2020
15 d early
2019
14 d early
← before the deadline
after the deadline →
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€929k▼ 2.4%
2024 · €952k
2018: €-333k
2019: €22k
2020: €12k
2021: €371k
2022: €363k
2023: €478k
2024: €952k
2018 → 2025
Working capital
€2.37M▼ 17.6%
2024 · €2.87M
2018: €1.41M
2019: €1.22M
2020: €1.50M
2021: €1.69M
2022: €2.05M
2023: €1.91M
2024: €2.87M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€588k-€801k▲ 36.2%€1.07M▲ 34.2%€1.79M▲ 66.3%€2.27M▲ 27.2%
Operating result€281k-€259k▼ 7.8%€315k▲ 21.8%€957k▲ 203%€876k▼ 8.4%
Net result€371k-€363k▼ 2.1%€478k▲ 31.8%€952k▲ 99.1%€929k▼ 2.4%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 8% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.36M
Fixed assets
€617k ▲ 26.3%
Current assets
€4.74M ▼ 11.3%
Equity and liabilities €5.36M
Equity
€2.27M ▲ 27.2%
Debt
€3.09M ▼ 23.7%
Debt's share of the balance-sheet total falls from 69.4% to 57.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.10M▼
2024 · €1.15M
Cash flow
€1.15M▲
2024 · €1.14M
Current ratio
1.99▼
2024 · 2.16
Debt to equity
1.36▼
2024 · 2.27
ROE
40.9%▼
2024 · 53.3%
ROA
17.3%▲
2024 · 16.3%
Interest coverage
13.25▼
2024 · 14.62
Debt ≤ 1 year
€2.38M▼
2024 · €2.48M
Debt > 1 year
€57k▼
2024 · €73k
Income taxes
€121k▼
2024 · €182k
Staff costs
€4.03M▲
2024 · €3.38M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 64 lines
Balance sheet
Code20242025
Assets
Total assets20/58€5.84M€5.36M▼
Fixed assets21/28€489k€617k▲
Intangible fixed assets21€248k€329k▲
Tangible fixed assets22/27€190k€245k▲
Land and buildings22€105k€107k▲
Plant, machinery and equipment23€70k€62k▼
Furniture and vehicles24€15k€75k▲
Other tangible fixed assets26-€1k
Financial fixed assets28€51k€43k▼
Current assets29/58€5.35M€4.74M▼
Amounts receivable after more than one year29€208k€213k▲
Other amounts receivable291€208k€213k▲
Amounts receivable within one year40/41€4.57M€3.15M▼
Trade receivables40€4.43M€2.96M▼
Other amounts receivable41€141k€195k▲
Cash at bank and in hand54/58€167k€464k▲
Deferred charges and accrued income490/1€406k€917k▲
Equity and liabilities
Total equity and liabilities10/49€5.84M€5.36M▼
Equity10/15€1.79M€2.27M▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€1.72M€2.21M▲
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132€282k€282k=
Distributable reserves133€1.44M€1.92M▲
Amounts payable17/49€4.05M€3.09M▼
Amounts payable after more than one year17€73k€57k▼
Financial debts170/4€73k€57k▼
Amounts payable within one year42/48€2.48M€2.38M▼
Current portion of amounts payable after more than one year42€347k€397k▲
Financial debts43€100k-
Credit institutions430/8€100k-
Trade debts44€1.20M€1.11M▼
Suppliers440/4€1.20M€1.11M▼
Taxes, remuneration and social security45€523k€615k▲
Taxes450/3€205k€229k▲
Remuneration and social security454/9€319k€386k▲
Other amounts payable47/48€307k€255k▼
Accrued charges and deferred income492/3€1.50M€654k▼
Income statement
Code20242025
Remuneration, social security and pensions62€3.38M€4.03M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€190k€226k▲
Other operating charges640/8€17k€14k▼
Non-recurring operating charges66A€44k€58k▲
Gross operating margin9900€4.59M€5.21M▲
Operating profit (loss)9901€957k€876k▼
Financial income75/76B€261k€262k▲
Recurring financial income75€261k€262k▲
Financial charges65/66B€84k€88k▲
Recurring financial charges65€78k€83k▲
Non-recurring financial charges66B€6k€5k▼
Profit (loss) for the period before taxes9903€1.13M€1.05M▼
Income taxes67/77€182k€121k▼
Profit (loss) for the period9904€952k€929k▼
Transfer to tax-exempt reserves689€282k-
Profit (loss) for the period to be appropriated9905€669k€929k▲
Appropriation of the result
Profit (loss) to be appropriated9906€669k€929k▲
Transfer to equity691/2€430k€486k▲
To other reserves6921€430k€486k▲
Profit to be distributed694/7€240k€443k▲
Directors or managers695€150k€400k▲
Other beneficiaries697€90k€43k▼
Social balance
Average headcount (FTE)908739.744.1▲
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
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Equity above €2MEq €2.27M ▲27.2%
7 profitable years in a row build equity to €2.27M.
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €952k ▲99.1%
Operating result €957k, net result €952k, both a record.
19-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €1MEq €1.07M ▲34.2%
5 profitable years in a row build equity to €1.07M.
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €500kEq €588k ▲18.3%
3 profitable years in a row build equity to €588k.
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €22k
Net result €22k after one loss-making year.
Show earlier events
16-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
11-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
14 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, Leuven · 2 establishment units since 2001
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.
Romeinse straat 43001 LeuvenGround area
2.4 ha
Building footprint
1.2 ha
Volume, LiDAR
15,969 m³
2 parcels, Flanders · tallest building 23.9 m, ±7 floors. Linked by address, not a title deed.
2 establishment units
Haystack Consulting
since 20012.100.390.587
Haystack International NV
since 20202.329.262.285
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24514C0093/00V002 | Flanders | 2.2 ha | 1 · 1.1 ha | - |
| 11303B0445/00F008 | Flanders | 2,372 m² | 1 · 792 m² | 23.9 m · 7 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
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
2022 to 2025 · 10 entries · 63,696 EUR awarded · 64,982 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 4 | 2,972 EUR | 28,027 EUR |
| 2024 | 3 | 55,561 EUR | 30,506 EUR |
| 2023 | 1 | 125 EUR | 243 EUR |
| 2022 | 2 | 5,038 EUR | 6,206 EUR |
Schemes
Kmo-groeisubsidie: steun voor groeitrajecten bij kmo's (stopgezet)
Vlaams opleidingsverlof (VOV)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
European research
1 projectProgrammes
Horizon 2020
Projects
Enginomics in food quality design: the case of shelf-stable fruit-, vegetable- and legume-based foods
Recognitions · licences · registrations
Legal Entity Identifier
5493006VNUJGBBBJ7R51
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Of 2,713 companies in sector 73200 we hold annual accounts for 1,783. 830 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded26-04-2001
Fiscal year end31-12
Trade name NL
HAYSTACK INTERNATIONAL
Activities, NACEBEL 2025
73200Market research and public opinion polling
Sources
Crossroads Bank for EnterprisesNational Bank · 24 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.