HBS

Active

Public limited companyfounded 199135 yrs activeLammerdries 12, 2440 Geel, BelgiumKBO/BCE: BE 0443.480.337

HBS has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €273k and a net result of €-2.90M. Equity is shrinking by ~6.8% per year across the filed fiscal years. Its solvency ranks better than 13% of 1302 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).

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Checked score

Score 2024

0 / 100

Critical▼ -12 vs 2023

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability0=

Solvency13▼-21

Growth23▼-6

Stability100

Bankruptcy probability, 12 months

0.6% Low

0%0.5%1.5%4%10%≥ 25%

No credit on open account

Liquidity short (current ratio 0.93 against 1.16 in 2023), and 95.3% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Eight signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 41

Relative position

BE, all sectors

reference

Sector 41

higher

← fewer bankruptcies more bankruptcies →

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

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 2024

Solvency, return and age of the figures

Solvency

4.7%

Return on assets

-50.2%

Age of the figures

20 mo

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Persistent losses

Two consecutive loss-making years (2023 and 2024); equity fell accordingly. May indicate structural pressure on profitability.

NBB · annual accounts 2024

Net result per financial year

18192021222324

2018 to 2024 · latest year -€2.9M

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 1302 sector peers (2024).

NBB · sector comparison

Position among 1302 sector peers

Solvency

better than 13%

← weakest strongest →

Filed more than 90 days late

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 03-12-2025, 125 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

125 d late

2023

119 d late

2022

35 d early

2021

46 d late

2020

30 d late

2019

31 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, full schema

Turnover

€10.93M▼ 29.8%

2023 · €15.57M

2018: €18.71M 2019: €14.72M 2020: €13.59M 2021: €10.93M 2022: €12.45M 2023: €15.57M

2018 → 2024

EBIT margin

-25.3%▼ 20.7pp

2023 · -4.7%

2018: 11.2% 2019: 10.1% 2020: 9.2% 2021: 0.0% 2022: -0.5% 2023: -4.7%

2018 → 2024

Net result

€-2.90M▼ 265%

2023 · €-793k

2018: €1.47M 2019: €1.03M 2020: €924k 2021: €288 2022: €-100k 2023: €-793k

2018 → 2024

Working capital

€-358k

2023 · €957k

2018: €2.81M 2019: €2.01M 2020: €1.61M 2021: €2.65M 2022: €1.76M 2023: €957k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Turnover€13.59M-€10.93M▼ 19.6%€12.45M▲ 13.9%€15.57M▲ 25.1%€10.93M▼ 29.8%

Equity€2.56M-€2.56M=€2.46M▼ 3.9%€1.67M▼ 32.2%€273k▼ 83.7%

Operating result€1.25M-€2k▼ 99.8%€-58k€-724k▼ 1,153%€-2.77M▼ 282%

Net result€924k-€288▼ 100.0%€-100k€-793k▼ 689%€-2.90M▼ 265%

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €2.77M in 2024 against €724k in 2023; the loss grows and 2024 is the lowest year so far.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €5.78M

11%

89.1%

Fixed assets €631k▼ 11.5%

Current assets €5.15M▼ 24.8%

Equity and liabilities €5.78M

95.3%

Equity €273k▼ 83.7%

Debt €5.50M▼ 6.5%

The debt ratio rises from 77.9% to 95.3%: equity shrinks faster than debt is paid down.

Key figures and ratios

2024 value · change against 2023

EBITDA

€-2.63M▼

2023 · €-583k

Cash flow

€-2.76M▼

2023 · €-651k

Solvency

4.7%▼

2023 · 22.1%

Current ratio

0.93▼

2023 · 1.16

Quick ratio

0.88▲

2023 · 0.70

Debt / equity

20.19▲

2023 · 3.52

ROA

-50.2%▼

2023 · -10.5%

Interest coverage

-19.29▼

2023 · -6.27

Debt

€5.50M▼

2023 · €5.89M

Debt ≤ 1 year

€5.50M▼

2023 · €5.89M

Income taxes

€2k▲

2023 · €1k

Staff costs

€1.62M▼

2023 · €1.85M

A ratio outside any meaningful range has been withheld (balance sheet total €5.78M, equity €273k).

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€7.55M€5.78M▼

Fixed assets21/28€712k€631k▼

Tangible fixed assets22/27€712k€627k▼

Land and buildings22€2k€2k=

Plant, machinery and equipment23€60k€29k▼

Furniture and vehicles24€84k€67k▼

Other tangible fixed assets26€474k€529k▲

Assets under construction and advance payments27€92k-

Financial fixed assets28€685€4k▲

Other financial fixed assets284/8€685€4k▲

Amounts receivable and cash guarantees285/8€685€4k▲

Current assets29/58€6.84M€5.15M▼

Stocks and contracts in progress3€2.70M€311k▼

Stocks30/36€125k€100k▼

Raw materials and consumables30/31€115k€100k▼

Property held for sale35€10k-

Contracts in progress37€2.58M€211k▼

Amounts receivable within one year40/41€3.63M€2.66M▼

Trade receivables40€3.25M€2.13M▼

Other amounts receivable41€375k€529k▲

Cash at bank and in hand54/58€393k€2.14M▲

Deferred charges and accrued income490/1€119k€36k▼

Equity and liabilities

Total equity and liabilities10/49€7.55M€5.78M▼

Equity10/15€1.67M€273k▼

Contributions10/11€266k€1.77M▲

Capital10€266k€1.77M▲

Issued capital100€266k€1.77M▲

Reserves13€456k€456k=

Non-distributable reserves130/1€27k€27k=

Legal reserve130€27k€27k=

Distributable reserves133€430k€430k=

Profit (loss) carried forward14€947k€-1.95M▼

Amounts payable17/49€5.89M€5.50M▼

Amounts payable within one year42/48€5.89M€5.50M▼

Trade debts44€2.73M€2.41M▼

Suppliers440/4€2.73M€2.41M▼

Advances received on contracts in progress46€367k€678k▲

Taxes, remuneration and social security45€157k€240k▲

Taxes450/3€1k€140k▲

Remuneration and social security454/9€156k€100k▼

Other amounts payable47/48€2.63M€2.18M▼

Income statement Code20232024

Operating income70/76A€16.39M€8.87M▼

Turnover70€15.57M€10.93M▼

Change in stocks of work in progress, finished goods and contracts in progress71€650k€-2.28M▼

Own construction capitalised72€42k€39k▼

Other operating income74€125k€85k▼

Non-recurring operating income76A-€100k

Operating charges60/66A€17.11M€11.64M▼

Goods for resale, raw materials and consumables60€13.53M€8.11M▼

Purchases600/8€13.53M€8.08M▼

Change in stocks: decrease (increase)609€3k€25k▲

Services and other goods61€1.57M€1.66M▲

Remuneration, social security and pensions62€1.85M€1.62M▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€142k€135k▼

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€106k

Other operating charges640/8€21k€7k▼

Operating profit (loss)9901€-724k€-2.77M▼

Financial income75/76B€26k€11k▼

Recurring financial income75€26k€11k▼

Other financial income752/9€26k€11k▼

Non-recurring financial income76B€33-

Financial charges65/66B€93k€137k▲

Recurring financial charges65€93k€137k▲

Debt charges650€93k€137k▲

Profit (loss) for the period before taxes9903€-791k€-2.90M▼

Income taxes67/77€1k€2k▲

Taxes670/3€1k€2k▲

Profit (loss) for the period9904€-793k€-2.90M▼

Profit (loss) for the period to be appropriated9905€-793k€-2.90M▼

Appropriation of the result

Profit (loss) to be appropriated9906€947k€-1.95M▼

Profit (loss) brought forward from the previous period14P€1.74M€947k▼

Social balance

Average headcount (FTE)908729.926.4▼

The notes to these accounts (40 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 11Financial 1Filings 10

2025

03-12

NBB filing Annual accounts filed

fiscal year 2024 · full schema · 125 days late

2024

31-12

Financial Weakest financial yearnet €-2.90M

Net result drops to €-2.90M, the lowest in the series.

27-11

NBB filing Annual accounts filed

fiscal year 2023 · full schema · 119 days late

2023

26-06

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

15-09

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 46 days late

2021

30-08

NBB filing Annual accounts filed

fiscal year 2020 · full schema · 30 days late

2020

31-08

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 31 days late

2019

28-06

NBB filing Annual accounts filed

fiscal year 2018 · full schema

2018

25-06

NBB filing Annual accounts filed

fiscal year 2017 · full schema

2017

23-06

NBB filing Annual accounts filed

fiscal year 2016 · full schema

2016

23-06

NBB filing Annual accounts filed

fiscal year 2015 · full schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

21 directors, no change since 2025

B. Lenaerts

Director · since 15-10-2021

Current

D. Roosen

Director · since 15-10-2021

Current

R. Eijckmans

Director · since 15-10-2021

Current

Bert Lenaerts

Director · since 22-06-2018

Current

Ronny Eijckmans

Director · since 22-06-2018

Current

Jozef Lembrechts

Director · since 22-06-2018

Not recently confirmed

+ 12 not shown in this overview

24-03-2025 Bert Lenaerts: Appointed as Director

24-03-2025 Ronny Eijckmans: Appointed as Director

19-12-2022 Dirk Roosen: Resigned as Director

15-10-2021 B. Lenaerts: Appointed as Director

15-10-2021 D. Roosen: Appointed as Director

15-10-2021 R. Eijckmans: Appointed as Director

06-01-2021 Dirk Roosen: Appointed as Managing director

20-02-2020 Joeri Schellens: Resigned as Director

22-06-2018 Bert Lenaerts: Appointed as Director

22-06-2018 Ronny Eijckmans: Appointed as Director

22-06-2018 Jozef Lembrechts: Appointed as Director

22-06-2018 Karolien Van den Bogaert: Appointed as Bedrijfsjurist

22-06-2018 Peter Bervoets: Appointed as Directeur schrijnwerkerij

22-06-2018 Sonja Wens: Appointed as Gevolmachtigde

22-06-2018 Dirk Roosen: Appointed as Algemeen directeur

22-06-2018 Joeri Schellens: Appointed as Director

22-06-2018 Frans Mathé: Resigned as Managing director

17-06-2015 Jureco bvba: Appointed as Director

17-06-2015 Lemma bvba: Appointed as Director

17-06-2015 Mainvest bvba: Appointed as Director

17-06-2015 Manibel bvba: Appointed as Director

17-06-2015 Scheema bvba: Appointed as Director

24-06-2010 Frans Michielsen: Appointed as Director

24-06-2010 Jef Lembrechts: Appointed as Director

+ 3 not shown in this overview

Location & real-estate footprint

Registered office, Geel · 1 establishment unit since 1999

establishment The establishment unit on the map

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.

Lammerdries 122440 Geel

Ground area

3.4 ha

Building footprint

5,238 m²

Parcel 13373A0494/00E000, Flanders. Linked by address, not a title deed.

1 establishment unit

H.B.S.

Lammerdries 12, 2440 GeelNACE 45200

since 19992.052.539.202

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
13373A0494/00E000	Flanders	3.4 ha	1 · 5,238 m²	-

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.

Statutory auditor

4 auditors

Deloitte Bedrijfsrevisoren bvCurrent

Statutory auditor

02-01-2025 → present

Show 3 earlier auditors

A. Nuttens Statutory auditor succeeded by Deloitte Bedrijfsrevisoren bv in 2025	22-06-2018 → 02-01-2025
Forvis Mazars Bedrijfsrevisoren Statutory auditor	- → 02-01-2025
Mazars Bedrijfsrevisoren Statutory auditor succeeded by A. Nuttens in 2018	17-06-2015 → 22-06-2018