HB4
ActiveSummary
HB4 has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €78k and a net result of €-10k. Equity is growing by ~8.2% per year across the filed fiscal years. Its solvency ranks better than 19% of 637 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability41▼-22
Solvency37▼-1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days acceptable
Liquidity short (current ratio 0.62 against 0.68 in 2023; short-term debt: 31.3% and cash: 1.1% of total assets), and 87.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 72
Relative position
BE, all sectors
reference
Scientific research and development (NACE 72)
about 30% fewer 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 2024Solvency, return and age of the figures
Solvency
12.1%
Return on assets
-1.6%
Age of the figures
21 mo
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
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-10k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 637 sector peers (2024).
NBB · sector comparisonPosition among 637 sector peers
Solvency
better than 19%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 16-09-2025, 47 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
47 d late
2023
31 d late
2022
30 d late
2021
30 d late
2020
39 d early
2019
81 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Turnover
€129k
EBIT margin
8.0%
Net result
€-10k▼ 211%
2023 · €-3k
2018: €6k
2019: €8k▲ +46.2% vs 2018
2020: €26k▲ +208% vs 2019
2021: €26k▲ +0.5% vs 2020highest in 7 years
2022: €-13k▼ -151% vs 2021lowest in 7 years
2023: €-3k▲ +75.5% vs 2022
2024: €-10k▼ -211% vs 2023
2018 → 2024
Working capital
€-77k▼ 28.6%
2023 · €-60k
2018: €41k
2019: €51k▲ +25.4% vs 2018
2020: €78k▲ +53.0% vs 2019highest in 7 years
2021: €63k▼ -18.8% vs 2020
2022: €-28k▼ -144% vs 2021
2023: €-60k▼ -114% vs 2022
2024: €-77k▼ -28.6% vs 2023lowest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€129k
Equity€78k-€105k▲ 33.5%€91k▼ 12.7%€88k▼ 3.6%€78k▼ 11.5%
2020: €78k
2021: €105k▲ +33.5% vs 2020highest in 5 years
2022: €91k▼ -12.7% vs 2021
2023: €88k▼ -3.6% vs 2022
2024: €78k▼ -11.5% vs 2023lowest in 5 years
Operating result€36k-€38k▲ 8.3%€-9k€10k€3k▼ 73.6%
2020: €36k
2021: €38k▲ +8.3% vs 2020highest in 5 years
2022: €-9k▼ -123% vs 2021lowest in 5 years
2023: €10k▲ +215% vs 2022
2024: €3k▼ -73.6% vs 2023
Net result€26k-€26k▲ 0.5%€-13k€-3k▲ 75.5%€-10k▼ 211%
2020: €26k
2021: €26k▲ +0.5% vs 2020highest in 5 years
2022: €-13k▼ -151% vs 2021lowest in 5 years
2023: €-3k▲ +75.5% vs 2022
2024: €-10k▼ -211% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 74% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €639k
Fixed assets
€513k ▼ 6.2%
Current assets
€125k ▼ 2.1%
Equity and liabilities €647k
Equity
€78k ▼ 11.5%
Debt
€569k ▼ 4.4%
Debt's share of the balance-sheet total rises from 87.1% to 87.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€36k▼
2023 · €43k
Cash flow
€24k▼
2023 · €30k
Current ratio
0.62▼
2023 · 0.68
Debt to equity
7.30▲
2023 · 6.75
ROE
-13.0%▼
2023 · -3.7%
ROA
-1.6%▼
2023 · -0.5%
Interest coverage
2.89▼
2023 · 3.24
Debt ≤ 1 year
€202k▲
2023 · €188k
Debt > 1 year
€366k▼
2023 · €407k
Income taxes
€227▼
2023 · €246
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 · 2024 against 2023 · 49 lines
Balance sheet
Code20232024
Assets
Total assets20/58€683k€647k▼
Formation expenses20€8k€8k=
Fixed assets21/28€547k€513k▼
Tangible fixed assets22/27€547k€513k▼
Land and buildings22€414k€404k▼
Furniture and vehicles24€71k€54k▼
Other tangible fixed assets26€62k€55k▼
Financial fixed assets28€80€80=
Current assets29/58€128k€125k▼
Amounts receivable within one year40/41€113k€118k▲
Trade receivables40€53k€50k▼
Other amounts receivable41€60k€68k▲
Cash at bank and in hand54/58€15k€7k▼
Deferred charges and accrued income490/1-€483
Equity and liabilities
Total equity and liabilities10/49€683k€647k▼
Equity10/15€88k€78k▼
Contributions10/11€6k€6k=
Reserves13€22k€22k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€20k€20k=
Profit (loss) carried forward14€60k€50k▼
Amounts payable17/49€595k€569k▼
Amounts payable after more than one year17€407k€366k▼
Financial debts170/4€407k€366k▼
Amounts payable within one year42/48€188k€202k▲
Current portion of amounts payable after more than one year42€48k€45k▼
Financial debts43-€2k
Credit institutions430/8-€2k
Trade debts44€71k€78k▲
Suppliers440/4€71k€78k▲
Taxes, remuneration and social security45€5k€291▼
Taxes450/3€5k€291▼
Other amounts payable47/48€65k€78k▲
Income statement
Code20232024
Turnover70€129k-
Non-recurring operating income76A€30k€25k▼
Goods, raw materials, services and sundry goods60/61€115k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€33k€34k▲
Other operating charges640/8€892€5k▲
Gross operating margin9900€44k€42k▼
Operating profit (loss)9901€10k€3k▼
Financial charges65/66B€13k€13k▼
Recurring financial charges65€13k€13k▼
Profit (loss) for the period before taxes9903€-3k€-10k▼
Income taxes67/77€246€227▼
Profit (loss) for the period9904€-3k€-10k▼
Profit (loss) for the period to be appropriated9905€-3k€-10k▼
Appropriation of the result
Profit (loss) to be appropriated9906€60k€50k▼
Profit (loss) brought forward from the previous period14P€63k€60k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €129k | - | - |
| Non-recurring operating income76A | - | - | - | €30k | €25k | ▼ 16.5% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €115k | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €877 | €891 | €66k | €33k | €34k | ▲ 3.0% |
| Other operating charges640/8 | - | €743 | €3k | €892 | €5k | ▲ 508% |
| Gross operating margin9900 | €37k | €40k | €60k | €44k | €42k | ▼ 4.6% |
| Operating profit (loss)9901 | €36k | €38k | €-9k | €10k | €3k | ▼ 73.6% |
| Financial income75/76B | - | - | €96 | - | - | - |
| Recurring financial income75 | - | - | €96 | - | - | - |
| Financial charges65/66B | - | €2k | €4k | €13k | €13k | ▼ 4.8% |
| Recurring financial charges65 | €133 | €2k | €4k | €13k | €13k | ▼ 4.8% |
| Profit (loss) for the period before taxes9903 | €35k | €37k | €-13k | €-3k | €-10k | ▼ 228% |
| Income taxes67/77 | €9k | €10k | €390 | €246 | €227 | ▼ 7.5% |
| Profit (loss) for the period9904 | €26k | €26k | €-13k | €-3k | €-10k | ▼ 211% |
| Profit (loss) for the period to be appropriated9905 | €26k | €26k | €-13k | €-3k | €-10k | ▼ 211% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €86k | €149k | €585k | €683k | €647k | ▼ 5.3% |
| Formation expenses20 | - | - | €8k | €8k | €8k | = |
| Fixed assets21/28 | €560 | €67k | €492k | €547k | €513k | ▼ 6.2% |
| Tangible fixed assets22/27 | €480 | €67k | €492k | €547k | €513k | ▼ 6.2% |
| Land and buildings22 | - | €60k | €423k | €414k | €404k | ▼ 2.4% |
| Furniture and vehicles24 | - | €2k | €10k | €71k | €54k | ▼ 24.4% |
| Other tangible fixed assets26 | - | €5k | €59k | €62k | €55k | ▼ 10.7% |
| Financial fixed assets28 | €80 | €80 | €80 | €80 | €80 | = |
| Current assets29/58 | €85k | €82k | €84k | €128k | €125k | ▼ 2.1% |
| Amounts receivable within one year40/41 | €26k | €23k | €74k | €113k | €118k | ▲ 3.9% |
| Trade receivables40 | - | €15k | €24k | €53k | €50k | ▼ 6.5% |
| Other amounts receivable41 | - | €8k | €50k | €60k | €68k | ▲ 13.1% |
| Cash at bank and in hand54/58 | €56k | €57k | €9k | €15k | €7k | ▼ 50.5% |
| Deferred charges and accrued income490/1 | - | €1k | €1k | - | €483 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €86k | €149k | €585k | €683k | €647k | ▼ 5.3% |
| Equity10/15 | €78k | €105k | €91k | €88k | €78k | ▼ 11.5% |
| Contributions10/11 | - | €6k | €6k | €6k | €6k | = |
| Reserves13 | €12k | €22k | €22k | €22k | €22k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | €20k | €20k | €20k | €20k | = |
| Profit (loss) carried forward14 | €60k | €77k | €63k | €60k | €50k | ▼ 16.9% |
| Amounts payable17/49 | €7k | €44k | €494k | €595k | €569k | ▼ 4.4% |
| Amounts payable after more than one year17 | - | €26k | €380k | €407k | €366k | ▼ 10.0% |
| Financial debts170/4 | - | €26k | €380k | €407k | €366k | ▼ 10.0% |
| Amounts payable within one year42/48 | €7k | €18k | €112k | €188k | €202k | ▲ 7.7% |
| Current portion of amounts payable after more than one year42 | - | - | €9k | €48k | €45k | ▼ 5.4% |
| Financial debts43 | - | €3k | €28k | - | €2k | - |
| Credit institutions430/8 | - | €3k | €28k | - | €2k | - |
| Trade debts44 | €1k | €10k | €11k | €71k | €78k | ▲ 9.1% |
| Suppliers440/4 | - | €10k | €11k | €71k | €78k | ▲ 9.1% |
| Taxes, remuneration and social security45 | - | €5k | €1k | €5k | €291 | ▼ 93.6% |
| Taxes450/3 | - | €5k | €1k | €5k | €291 | ▼ 93.6% |
| Other amounts payable47/48 | - | - | €63k | €65k | €78k | ▲ 20.1% |
| Accrued charges and deferred income492/3 | - | - | €2k | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €26k | €26k | €-13k | €-3k | €-10k | ▼ 211% |
| + Depreciation and write-downs630 | €877 | €891 | €66k | €33k | €34k | ▲ 3.0% |
| Operating cash flow (approximation) | €27k | €27k | €52k | €30k | €24k | ▼ 19.9% |
| Investment in fixed assets (approximation) | - | €-67k | €-491k | €-87k | €0 | ▲ 100% |
| Change in cash | - | €748 | €-48k | €6k | €-8k | ▼ 230% |
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
2025
16-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 47 days late
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-12
Financial
Weakest financial yearnet €-13k
Net result drops to €-13k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Highest result since 2018net €26k ▲0.5%
Operating result €38k, net result €26k, both a record.
31-12
Financial
Equity above €100kEq €105k ▲33.5%
4 profitable years in a row build equity to €105k.
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
20-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 81 days late
2019
05-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 5 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
18-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 18 days late
2016
10-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 10 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Meise · 1 establishment unit since 2014
Ground area
970 m²
Building footprint
148 m²
Volume, LiDAR
1,058 m³
Parcel 23050F0090/00Y002, Flanders · tallest building 10.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Brusselsesteenweg 153, 1860 Meise
since 20142.231.190.238
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23050F0090/00Y002 | Flanders | 970 m² | 1 · 148 m² | 10.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 426 companies in sector 72200 we hold annual accounts for 145. 106 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
Founded29-04-2014
Fiscal year end31-12
Activities, NACEBEL 2025
72200Scientific research and development
68121Development of residential building projects
78100Employment placement agencies
78200Temporary employment agencies and other provision of personnel
85599Other education
85699Other educational support services
Scores and ratios are computed by Checked and are not a credit decision.