HBLF
ActiveSummary
HBLF has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €52,766 and a net result of €16,315. Equity is growing by ~24.1% per year across the filed fiscal years. Its solvency ranks better than 48% of 28281 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▲+31
Solvency70▼-16
Growth52=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,000 at 30 days acceptable
Liquidity ample (current ratio 1.69 against 2.52 in 2024; short-term debt: 53.3% and cash: 7.1% of total assets), but 54.8% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
45.2%
Return on assets
14%
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 03-07-2026, 28 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
28 d early
2024
29 d late
2023
29 d late
2022
29 d late
2021
29 d late
2020
16 d late
2019
61 d late
← 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 after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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 29 August (4 of the last 5 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, micro schema
Equity
€52,766▼ 21.0%
2024 · €66,809
Total assets
€116,854▲ 7.1%
2024 · €109,152
Net result
€16,315▲ 1,509%
2024 · €1,014
Working capital
€42,882▼ 30.6%
2024 · €61,787
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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
Line20212022202320242025
Operating result€20,949▼ 30.4%€2,219▼ 89.4%€25,632▲ 1,055%€5,449▼ 78.7%€27,383▲ 403%
Net result€16,412within the sector's middle half▼ 34.1%€2below the sector's middle half▼ 100.0%€18,920within the sector's middle half▲ 1,261,238%€1,014within the sector's middle half▼ 94.6%€16,315within the sector's middle half▲ 1,509%
Equity€37,740within the sector's middle half▲ 70.6%€37,741within the sector's middle half=€67,461within the sector's middle half▲ 78.7%€66,809within the sector's middle half▼ 1.0%€52,766within the sector's middle half▼ 21.0%
Total assets€90,832within the sector's middle half▲ 0.2%€90,867within the sector's middle half=€100,043within the sector's middle half▲ 10.1%€109,152within the sector's middle half▲ 9.1%€116,854within the sector's middle half▲ 7.1%
Debt€53,092▼ 22.6%€53,126▲ 0.1%€32,582▼ 38.7%€42,343▲ 30.0%€64,088▲ 51.4%
Working capital€28,644within the sector's middle half▲ 99.3%€27,271within the sector's middle half▼ 4.8%€60,120within the sector's middle half▲ 120%€61,787within the sector's middle half▲ 2.8%€42,882within the sector's middle half▼ 30.6%
Solvency41.5%within the sector's middle half▲ 17.1pp41.5%within the sector's middle half=67.4%within the sector's middle half▲ 25.9pp61.2%within the sector's middle half▼ 6.2pp45.2%within the sector's middle half▼ 16.1pp
Current ratio1.74within the sector's middle half▲ 0.431.58within the sector's middle half▼ 0.162.91within the sector's middle half▲ 1.332.52within the sector's middle half▼ 0.391.69within the sector's middle half▼ 0.83
Return on assets (ROA)18.1%above the sector's middle half▼ 9.4pp0.0%below the sector's middle half▼ 18.1pp18.9%above the sector's middle half▲ 18.9pp0.9%within the sector's middle half▼ 18.0pp14.0%within the sector's middle half▲ 13.0pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 403% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €116,854
Fixed assets
€11,733 ▲ 74.6%
Current assets
€105,122 ▲ 2.6%
Equity and liabilities €116,854
Equity
€52,766 ▼ 21.0%
Debt
€64,088 ▲ 51.4%
Debt's share of the balance-sheet total rises from 38.8% to 54.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€32,062▲
2024 · €11,393
Cash flow
€20,994▲
2024 · €6,958
Quick ratio
1.23▼
2024 · 2.14
Debt to equity
1.21▲
2024 · 0.63
ROE
30.9%▲
2024 · 1.5%
Interest coverage
4.78▲
2024 · 2.99
Debt ≤ 1 year
€62,239▲
2024 · €40,645
Income taxes
€4,915▲
2024 · €1,001
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,696 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.7%
went bankrupt
3.9%
stopped otherwise
95%
still going
For this company itself Checked computes a higher bankruptcy probability: 1.0% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 34,696 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €855 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,235 | €11,863 | €12,717 | €5,944 | €4,679 | ▼ 21.3% |
| Other operating charges640/8 | €394 | €516 | €805 | €822 | €843 | ▲ 2.6% |
| Gross operating margin9900 | €32,577 | €14,598 | €40,009 | €12,215 | €32,906 | ▲ 169% |
| Operating profit (loss)9901 | €20,949 | €2,219 | €25,632 | €5,449 | €27,383 | ▲ 403% |
| Financial income75/76B | €11 | €45 | €39 | €377 | €554 | ▲ 47.2% |
| Recurring financial income75 | €11 | €45 | €39 | €377 | €554 | ▲ 47.2% |
| Financial charges65/66B | €1,384 | €1,629 | €1,440 | €3,810 | €6,707 | ▲ 76.0% |
| Recurring financial charges65 | €1,384 | €1,629 | €1,440 | €3,810 | €6,707 | ▲ 76.0% |
| Profit (loss) for the period before taxes9903 | €19,575 | €635 | €24,232 | €2,015 | €21,230 | ▲ 954% |
| Income taxes67/77 | €3,163 | €634 | €5,312 | €1,001 | €4,915 | ▲ 391% |
| Profit (loss) for the period9904 | €16,412 | €2 | €18,920 | €1,014 | €16,315 | ▲ 1,509% |
| Profit (loss) for the period to be appropriated9905 | €16,412 | €2 | €18,920 | €1,014 | €16,315 | ▲ 1,509% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €90,832 | €90,867 | €100,043 | €109,152 | €116,854 | ▲ 7.1% |
| Fixed assets21/28 | €23,689 | €16,975 | €8,496 | €6,720 | €11,733 | ▲ 74.6% |
| Intangible fixed assets21 | - | - | €315 | €198 | €82 | ▼ 58.7% |
| Tangible fixed assets22/27 | €23,689 | €16,975 | €8,181 | €6,522 | €11,651 | ▲ 78.6% |
| Plant, machinery and equipment23 | €4,646 | €6,743 | €6,759 | €5,899 | €11,651 | ▲ 97.5% |
| Furniture and vehicles24 | €19,042 | €10,232 | €1,422 | €622 | €0 | ▼ 100% |
| Current assets29/58 | €67,143 | €73,892 | €91,548 | €102,432 | €105,122 | ▲ 2.6% |
| Stocks and contracts in progress3 | €8,902 | €11,300 | €13,272 | €15,288 | €28,430 | ▲ 86.0% |
| Stocks30/36 | €8,902 | €11,300 | €13,272 | €15,288 | €28,430 | ▲ 86.0% |
| Amounts receivable within one year40/41 | €24,639 | €49,303 | €43,622 | €69,140 | €65,089 | ▼ 5.9% |
| Trade receivables40 | €19,990 | €36,562 | €32,381 | €61,348 | €62,089 | ▲ 1.2% |
| Other amounts receivable41 | €4,649 | €12,741 | €11,240 | €7,793 | €3,000 | ▼ 61.5% |
| Cash at bank and in hand54/58 | €30,470 | €9,937 | €33,709 | €12,901 | €8,333 | ▼ 35.4% |
| Deferred charges and accrued income490/1 | €3,132 | €3,352 | €945 | €5,103 | €3,269 | ▼ 35.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €90,832 | €90,867 | €100,043 | €109,152 | €116,854 | ▲ 7.1% |
| Equity10/15 | €37,740 | €37,741 | €67,461 | €66,809 | €52,766 | ▼ 21.0% |
| Contributions10/11 | €6,200 | €6,200 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €29,680 | €29,681 | €47,001 | €46,349 | €32,306 | ▼ 30.3% |
| Amounts payable17/49 | €53,092 | €53,126 | €32,582 | €42,343 | €64,088 | ▲ 51.4% |
| Amounts payable after more than one year17 | €13,610 | €5,476 | €0 | - | - | - |
| Financial debts170/4 | €13,610 | €5,476 | €0 | - | - | - |
| Amounts payable within one year42/48 | €38,499 | €46,620 | €31,427 | €40,645 | €62,239 | ▲ 53.1% |
| Current portion of amounts payable after more than one year42 | €8,040 | €8,134 | €5,476 | €1,353 | €0 | ▼ 100% |
| Trade debts44 | €2,926 | €12,639 | €8,040 | €4,441 | €38 | ▼ 99.1% |
| Suppliers440/4 | €2,926 | €12,639 | €8,040 | €4,441 | €38 | ▼ 99.1% |
| Taxes, remuneration and social security45 | €1,654 | - | €1,312 | €4,219 | €7,778 | ▲ 84.3% |
| Taxes450/3 | €1,654 | - | €1,312 | €4,219 | €7,778 | ▲ 84.3% |
| Other amounts payable47/48 | €25,880 | €25,847 | €16,600 | €30,631 | €54,423 | ▲ 77.7% |
| Accrued charges and deferred income492/3 | €983 | €1,030 | €1,155 | €1,698 | €1,849 | ▲ 8.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,412 | €2 | €18,920 | €1,014 | €16,315 | ▲ 1,509% |
| + Depreciation and write-downs630 | €11,235 | €11,863 | €12,717 | €5,944 | €4,679 | ▼ 21.3% |
| Operating cash flow (approximation) | €27,647 | €11,865 | €31,637 | €6,958 | €20,994 | ▲ 202% |
| Investment in fixed assets (approximation) | - | -€5,150 | -€4,237 | -€4,169 | -€9,692 | ▼ 132% |
| Change in cash | - | -€20,533 | €23,772 | -€20,808 | -€4,568 | ▲ 78.0% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
16-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 16 days late
2020
31-12
Financial
Back to profitnet €24,903
Net result €24,903 after one loss-making year.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
2019
31-12
Financial
Weakest financial yearnet -€12,014
Net result drops to -€12,014, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
23-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 23 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, Havelange · 1 establishment unit since 2016
Ground area
2,162 m²
Building footprint
64 m²
Parcel 91076B0103/00P000, Wallonia. Linked by address, not a title deed.
1 establishment unit
HBLF
since 20162.252.359.893
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 91076B0103/00P000 | Wallonia | 2,162 m² | 1 · 64 m² | - |
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 749 companies in sector 43332 we hold annual accounts for 411. 337 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
Founded18-04-2016
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
43332Laying of wooden floor and wall coverings
33110Repair and maintenance of fabricated metal products
43230Insulation installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0652686868
Registered
02-10-2025
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.