HBD
ActiveSummary
HBD has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.0m and a net result of €610,558. Equity is growing by ~102.4% per year across the filed fiscal years. Its solvency ranks better than 33% of 8765 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability93▲+13
Solvency58▲+17
Growth78=
Track record94
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €75,000 at 30 days acceptable
Liquidity ample (current ratio 2.71 against 1.03 in 2024; short-term debt: 7.8% and cash: 0.3% of total assets), but 67% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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
33%
Return on assets
19.7%
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 23-07-2026, 8 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
8 d early
2024
20 d late
2023
30 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 6 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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 23 July (3 of the last 3 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€610,558▲ 161%
2024 · €234,305
Working capital
€415,074▲ 6,189%
2024 · €6,600
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202320242025
Operating result€45,897-€124,865▲ 172%€422,862▲ 239%
Net result€173,091within the sector's middle half-€234,305within the sector's middle half▲ 35.4%€610,558above the sector's middle half▲ 161%
Equity€178,091within the sector's middle half-€412,395within the sector's middle half▲ 132%€1.0mwithin the sector's middle half▲ 148%
Total assets€2.5mwithin the sector's middle half-€2.6mwithin the sector's middle half▲ 3.5%€3.1mabove the sector's middle half▲ 18.8%
Debt€2.3m-€2.2m▼ 6.2%€2.1m▼ 5.4%
Working capital-€83,018within the sector's middle half-€6,600within the sector's middle half€415,074above the sector's middle half▲ 6,189%
Solvency7.1%below the sector's middle half-15.8%below the sector's middle half▲ 8.7pp33.0%within the sector's middle half▲ 17.2pp
Current ratio0.59within the sector's middle half-1.03within the sector's middle half▲ 0.442.71within the sector's middle half▲ 1.68
Return on assets (ROA)6.9%within the sector's middle half-9.0%within the sector's middle half▲ 2.1pp19.7%above the sector's middle half▲ 10.7pp
Staff (FTE)1within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2025 Net result +161% on 2024. The accounts now follow the abbreviated schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2025 is 239% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.1m
Fixed assets
€2.4m ▲ 2.3%
Current assets
€658,346 ▲ 196%
Equity and liabilities €3.1m
Equity
€1.0m ▲ 148%
Debt
€2.1m ▼ 5.4%
Debt's share of the balance-sheet total falls from 84.2% to 67.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€443,757▲
2024 · €144,034
Cash flow
€631,453▲
2024 · €253,474
Debt to equity
2.03▼
2024 · 5.33
ROE
59.7%▲
2024 · 56.8%
Interest coverage
1353.49▲
2024 · 233.74
Debt ≤ 1 year
€243,272▲
2024 · €215,611
Debt > 1 year
€1.8m▼
2024 · €2.0m
Income taxes
€103,413▲
2024 · €27,161
Staff costs
€3,616▲
2024 · €3,370
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €2,553 | €3,370 | €3,616 | ▲ 7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,322 | €19,169 | €20,895 | ▲ 9.0% |
| Other operating charges640/8 | €2,783 | €394 | €407 | ▲ 3.4% |
| Gross operating margin9900 | €69,555 | €147,798 | €447,780 | ▲ 203% |
| Operating profit (loss)9901 | €45,897 | €124,865 | €422,862 | ▲ 239% |
| Financial income75/76B | €137,599 | €137,601 | €291,437 | ▲ 112% |
| Recurring financial income75 | €137,599 | €137,601 | €291,437 | ▲ 112% |
| Financial charges65/66B | €283 | €1,001 | €328 | ▼ 67.2% |
| Recurring financial charges65 | €283 | €616 | €328 | ▼ 46.8% |
| Non-recurring financial charges66B | - | €384 | - | - |
| Profit (loss) for the period before taxes9903 | €183,213 | €261,466 | €713,971 | ▲ 173% |
| Income taxes67/77 | €10,123 | €27,161 | €103,413 | ▲ 281% |
| Profit (loss) for the period9904 | €173,091 | €234,305 | €610,558 | ▲ 161% |
| Profit (loss) for the period to be appropriated9905 | €173,091 | €234,305 | €610,558 | ▲ 161% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €2.5m | €2.6m | €3.1m | ▲ 18.8% |
| Fixed assets21/28 | €2.4m | €2.4m | €2.4m | ▲ 2.3% |
| Intangible fixed assets21 | €57 | - | - | - |
| Tangible fixed assets22/27 | €40,445 | €25,532 | €10,267 | ▼ 59.8% |
| Land and buildings22 | €4,892 | €3,773 | €2,653 | ▼ 29.7% |
| Furniture and vehicles24 | €35,553 | €21,759 | €7,614 | ▼ 65.0% |
| Financial fixed assets28 | €2.4m | €2.4m | €2.4m | ▲ 3.0% |
| Current assets29/58 | €119,276 | €222,212 | €658,346 | ▲ 196% |
| Amounts receivable after more than one year29 | €28,654 | €23,662 | €18,610 | ▼ 21.4% |
| Other amounts receivable291 | €28,654 | €23,662 | €18,610 | ▼ 21.4% |
| Amounts receivable within one year40/41 | €13,877 | €11,312 | €76,718 | ▲ 578% |
| Trade receivables40 | - | - | €71,247 | - |
| Other amounts receivable41 | €13,877 | €11,312 | €5,471 | ▼ 51.6% |
| Current investments50/53 | - | €100,193 | €553,130 | ▲ 452% |
| Cash at bank and in hand54/58 | €76,636 | €86,356 | €9,799 | ▼ 88.7% |
| Deferred charges and accrued income490/1 | €110 | €689 | €90 | ▼ 86.9% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €2.5m | €2.6m | €3.1m | ▲ 18.8% |
| Equity10/15 | €178,091 | €412,395 | €1.0m | ▲ 148% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €173,091 | €407,395 | €1.0m | ▲ 150% |
| Distributable reserves133 | €173,091 | €407,395 | €1.0m | ▲ 150% |
| Amounts payable17/49 | €2.3m | €2.2m | €2.1m | ▼ 5.4% |
| Amounts payable after more than one year17 | €2.1m | €2.0m | €1.8m | ▼ 8.0% |
| Financial debts170/4 | €2.1m | €2.0m | €1.8m | ▼ 8.0% |
| Amounts payable within one year42/48 | €202,294 | €215,611 | €243,272 | ▲ 12.8% |
| Current portion of amounts payable after more than one year42 | €140,167 | €140,180 | €138,812 | ▼ 1.0% |
| Financial debts43 | €123 | - | - | - |
| Credit institutions430/8 | €123 | - | - | - |
| Trade debts44 | €2,089 | €4,443 | €459 | ▼ 89.7% |
| Suppliers440/4 | €2,089 | €4,443 | €459 | ▼ 89.7% |
| Taxes, remuneration and social security45 | €3,300 | €14,524 | €47,536 | ▲ 227% |
| Taxes450/3 | €3,300 | €14,461 | €47,474 | ▲ 228% |
| Remuneration and social security454/9 | - | €63 | €63 | = |
| Other amounts payable47/48 | €56,616 | €56,464 | €56,464 | = |
| Accrued charges and deferred income492/3 | - | €78 | €12,078 | ▲ 15,385% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €173,091 | €234,305 | €610,558 | ▲ 161% |
| + Depreciation and write-downs630 | €18,322 | €19,169 | €20,895 | ▲ 9.0% |
| Operating cash flow (approximation) | €191,413 | €253,474 | €631,453 | ▲ 149% |
| Investment in fixed assets (approximation) | - | -€3,980 | -€76,349 | ▼ 1,818% |
| Change in cash | - | €9,720 | -€76,557 | ▼ 888% |
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
Next filing, fiscal year 2026, expected by
2026
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2023net €610,558 ▲161%
Operating result €422,862, net result €610,558, both a record.
31-12
Financial
Liquidity triplescurrent ratio 2.71
Current ratio from 1.03 to 2.71.
31-12
Financial
Equity above €1mEq €1.0m ▲148%
3 profitable years in a row build equity to €1.0m.
20-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 20 days late
2024
31-12
Financial
Equity above €200,000Eq €412,395 ▲132%
2 profitable years in a row build equity to €412,395.
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Malmedy · 1 establishment unit since 2022
Ground area
1,859 m²
Building footprint
152 m²
Volume, LiDAR
819 m³
Parcel 63049A0196/00C000, Wallonia · tallest building 7.1 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
HBD
since 20222.338.854.595
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63049A0196/00C000 | Wallonia | 1,859 m² | 1 · 152 m² | 7.1 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.
Structure & network
Owners and holdings
2 holdings · 4 subsidiaries in the treeOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 2
-
91.67%
-
83.69%
All subsidiaries, including indirect ones 4
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
- B. DETREMBLEUR & PARTNERS 91.67%
ASSURANCES DETREMBLEUR & PARTNERS 83.69%2 subsidiaries
HUPPERETZ ET DUSSELDORF 100%1 subsidiary
According to the 2025 annual accounts of HBD and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 82,641 companies in sector 70200 we hold annual accounts for 52,623. 27,601 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
Founded08-12-2022
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
70100Activities of head offices
82100Office administrative and support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0794540361
Also
9925:BE0794540361
Registered
16-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.