HB MANUFACTURING
ActiveSummary
HB MANUFACTURING has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.71M and a net result of €314k. Equity is growing by ~29.5% per year across the filed fiscal years. Its solvency ranks better than 28% of 117 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
63
/ 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
Profitability84▲+1
Solvency54▲+11
Growth41▲+3
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100k at 30 days acceptable
Liquidity short (current ratio 0.58 against 0.33 in 2024; short-term debt: 63% and cash: 0.2% of total assets), and 70.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 32
Relative position
BE, all sectors
reference
Sector 32
lower
← fewer bankruptcies
more bankruptcies →
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
29.3%
Return on assets
5.4%
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 14-08-2026, 14 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 filingsDeviation from the deadline
2025
14 d late
2024
84 d late
2023
155 d late
2022
316 d late
2021
44 d late
← 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
€5.81M▲ 2.8%
2024 · €5.65M
2021: €7.05M
2022: €5.19M
2023: €5.50M
2024: €5.65M
2021 → 2025
EBIT margin
8.3%▼ 5.1pp
2024 · 13.5%
2021: 12.3%
2022: 14.0%
2023: 13.6%
2024: 13.5%
2021 → 2025
Net result
€314k▼ 6.0%
2024 · €334k
2021: €446k
2022: €302k
2023: €294k
2024: €334k
2021 → 2025
Working capital
€-1.55M▲ 63.9%
2024 · €-4.28M
2021: €-6.48M
2022: €-7.82M
2023: €-5.84M
2024: €-4.28M
2021 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€7.05M-€5.19M▼ 26.4%€5.50M▲ 6.1%€5.65M▲ 2.7%€5.81M▲ 2.8%
Equity€464k-€766k▲ 65.0%€1.06M▲ 38.5%€1.39M▲ 31.5%€1.71M▲ 22.5%
Operating result€866k-€726k▼ 16.2%€750k▲ 3.3%€760k▲ 1.4%€484k▼ 36.3%
Net result€446k-€302k▼ 32.3%€294k▼ 2.4%€334k▲ 13.4%€314k▼ 6.0%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 36% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.82M
Fixed assets
€3.70M ▼ 35.2%
Current assets
€2.12M ▼ 0.8%
Equity and liabilities €5.82M
Equity
€1.71M ▲ 22.5%
Debt
€4.12M ▼ 36.3%
Debt's share of the balance-sheet total falls from 82.2% to 70.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€2.52M▲
2024 · €2.49M
Cash flow
€2.35M▲
2024 · €2.06M
Current ratio
0.58▲
2024 · 0.33
Debt to equity
2.41▼
2024 · 4.63
ROE
18.4%▼
2024 · 24.0%
ROA
5.4%▲
2024 · 4.3%
Interest coverage
15.64▲
2024 · 8.37
Debt ≤ 1 year
€3.67M▼
2024 · €6.42M
Income taxes
€184k▲
2024 · €124k
Staff costs
€2.42M▼
2024 · €2.60M
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 · 60 lines
Balance sheet
Code20242025
Assets
Total assets20/58€7.85M€5.82M▼
Fixed assets21/28€5.71M€3.70M▼
Tangible fixed assets22/27€5.71M€3.70M▼
Plant, machinery and equipment23€4.17M€3.65M▼
Furniture and vehicles24€713-
Other tangible fixed assets26€1.53M€44k▼
Assets under construction and advance payments27€11k-
Financial fixed assets28€1k€1k=
Other financial fixed assets284/8€1k€1k=
Amounts receivable and cash guarantees285/8€1k€1k=
Current assets29/58€2.14M€2.12M▼
Amounts receivable within one year40/41€2.10M€2.10M▼
Trade receivables40€903k€497k▼
Other amounts receivable41€1.20M€1.60M▲
Cash at bank and in hand54/58€843€14k▲
Deferred charges and accrued income490/1€35k€10k▼
Equity and liabilities
Total equity and liabilities10/49€7.85M€5.82M▼
Equity10/15€1.39M€1.71M▲
Contributions10/11€19k€19k=
Profit (loss) carried forward14€1.38M€1.69M▲
Amounts payable17/49€6.46M€4.12M▼
Amounts payable within one year42/48€6.42M€3.67M▼
Trade debts44€273k€313k▲
Suppliers440/4€273k€313k▲
Taxes, remuneration and social security45€251k€340k▲
Taxes450/3€243k€326k▲
Remuneration and social security454/9€8k€14k▲
Other amounts payable47/48€5.90M€3.02M▼
Accrued charges and deferred income492/3€31k€446k▲
Income statement
Code20242025
Operating income70/76A€6.40M€6.03M▼
Turnover70€5.65M€5.81M▲
Other operating income74€748k€220k▼
Non-recurring operating income76A€2k-
Operating charges60/66A€5.64M€5.54M▼
Goods for resale, raw materials and consumables60€228k€215k▼
Purchases600/8€228k€215k▼
Services and other goods61€814k€843k▲
Remuneration, social security and pensions62€2.60M€2.42M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.73M€2.04M▲
Other operating charges640/8€25k€25k▲
Non-recurring operating charges66A€238k-
Operating profit (loss)9901€760k€484k▼
Financial income75/76B€58k€194k▲
Recurring financial income75€58k€193k▲
Income from current assets751€58k€54k▼
Other financial income752/9-€139k
Non-recurring financial income76B-€408
Financial charges65/66B€361k€180k▼
Recurring financial charges65€359k€163k▼
Debt charges650€298k€161k▼
Other financial charges652/9€61k€1k▼
Non-recurring financial charges66B€2k€18k▲
Profit (loss) for the period before taxes9903€458k€498k▲
Income taxes67/77€124k€184k▲
Taxes670/3€124k€184k▲
Profit (loss) for the period9904€334k€314k▼
Profit (loss) for the period to be appropriated9905€334k€314k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.38M€1.69M▲
Profit (loss) brought forward from the previous period14P€1.04M€1.38M▲
Social balance
Average headcount (FTE)908734.131.3▼
The notes to these accounts (49 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
14-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 14 days late
2025
23-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 84 days late
02-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 155 days late
2024
11-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 316 days late
2023
31-12
Financial
Weakest financial yearnet €294k ▼2.4%
Net result drops to €294k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €1MEq €1.06M ▲38.5%
3 profitable years in a row build equity to €1.06M.
2022
31-12
Financial
Equity above €500kEq €766k ▲65%
2 profitable years in a row build equity to €766k.
13-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 44 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Antwerpen · 1 establishment unit since 2020
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.
Hoveniersstraat 512018 AntwerpenGround area
2,937 m²
Building footprint
2,012 m²
Volume, LiDAR
51,458 m³
Parcel 11808H1182/00F018, Flanders · tallest building 41.6 m, ±10 floors. Linked by address, not a title deed.
1 establishment unit
HB MANUFACTURING
since 20202.298.771.128
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11808H1182/00F018 | Flanders | 2,937 m² | 1 · 2,012 m² | 41.6 m · 10 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 35,662 EUR awarded · 35,662 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 6,980 EUR | 6,980 EUR |
| 2024 | 1 | 9,153 EUR | 9,153 EUR |
| 2023 | 1 | 8,147 EUR | 8,147 EUR |
| 2022 | 1 | 11,382 EUR | 11,382 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Recognitions · licences · registrations
Legal Entity Identifier
699400BDEE7S3K44VB26
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Of 154 companies in sector 32121 we hold annual accounts for 82. 34 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 formPrivate limited company
Founded31-01-2020
Fiscal year end31-12
Activities, NACEBEL 2025
32121Other manufacturing
32122Other manufacturing
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.