HD CONSTRUCTIONS
ActiveHD CONSTRUCTIONS has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €84k and a net result of €30k. Equity is growing by ~8.5% per year across the filed fiscal years. Its solvency ranks better than 35% of 1887 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
91
/ 100
Excellent▲ +10 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+4
Solvency61▲+12
Growth71=
Stability100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity ample (current ratio 1.59 against 1.1 in 2024), but 69.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 25
Relative position
BE, all sectors
reference
Sector 25
higher
← fewer bankruptcies
more bankruptcies →
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
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
30.6%
Return on assets
10.9%
Age of the figures
11 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-03-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
23 d early
2023
7 d early
2022
21 d early
2021
23 d early
2020
33 d early
2019
56 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
13-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€299k▲ 11.3%
2021 · €268k
2019: €244k
2020: €206k
2021: €268k
2019 → 2022
EBIT margin
0.3%▼ 0.5pp
2021 · 0.8%
2019: 0.7%
2020: 3.9%
2021: 0.8%
2019 → 2022
Net result
€30k▲ 177%
2024 · €11k
2019: €773
2020: €6k
2021: €2k
2022: €-281
2023: €3k
2024: €11k
2019 → 2025
Working capital
€86k▲ 618%
2024 · €12k
2019: €31k
2020: €28k
2021: €30k
2022: €16k
2023: €-20k
2024: €12k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€268k-€299k▲ 11.3%
Equity€45k-€45k▼ 0.6%€48k▲ 6.8%€56k▲ 17.5%€84k▲ 48.6%
Operating result€2k-€838▼ 61.1%€7k▲ 757%€22k▲ 201%€50k▲ 132%
Net result€2k-€-281€3k€11k▲ 251%€30k▲ 177%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 132% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €273k
Fixed assets
€41k▼ 19.6%
Current assets
€232k▲ 68.4%
Equity and liabilities €273k
Equity
€84k▲ 48.6%
Debt
€190k▲ 43.2%
The debt ratio falls from 70.2% to 69.4%: equity grows faster than debt.
Key figures and ratios
EBITDA
€70k▲
2024 · €41k
Cash flow
€50k▲
2024 · €31k
Solvency
30.6%▲
2024 · 29.8%
Current ratio
1.59▲
2024 · 1.10
Quick ratio
1.43▲
2024 · 0.90
Debt / equity
2.27▼
2024 · 2.36
ROE
35.7%▲
2024 · 19.1%
ROA
10.9%▲
2024 · 5.7%
Interest coverage
11.38▲
2024 · 6.23
Debt
€190k▲
2024 · €132k
Debt ≤ 1 year
€146k▲
2024 · €126k
Income taxes
€15k▲
2024 · €5k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€189k€273k▲
Fixed assets21/28€51k€41k▼
Tangible fixed assets22/27€51k€41k▼
Land and buildings22€2k€6k▲
Plant, machinery and equipment23€1k€573▼
Furniture and vehicles24€48k€34k▼
Financial fixed assets28€135€135=
Current assets29/58€138k€232k▲
Stocks and contracts in progress3€24k€24k▼
Stocks30/36€24k€24k▼
Amounts receivable within one year40/41€22k€25k▲
Trade receivables40€21k€25k▲
Other amounts receivable41€1k-
Cash at bank and in hand54/58€87k€179k▲
Deferred charges and accrued income490/1€4k€5k▲
Equity and liabilities
Total equity and liabilities10/49€189k€273k▲
Equity10/15€56k€84k▲
Contributions10/11€19k€19k=
Outside capital11-€19k
Share premium1100/10-€19k
Reserves13€26k€53k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€5k€5k=
Distributable reserves133€19k€46k▲
Profit (loss) carried forward14€12k€12k=
Amounts payable17/49€132k€190k▲
Amounts payable within one year42/48€126k€146k▲
Trade debts44€32k€33k▲
Suppliers440/4€32k€33k▲
Taxes, remuneration and social security45€7k€26k▲
Taxes450/3€7k€26k▲
Other amounts payable47/48€87k€87k▼
Accrued charges and deferred income492/3€6k€44k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€20k€20k▲
Other operating charges640/8€2k€2k▼
Gross operating margin9900€44k€72k▲
Operating profit (loss)9901€22k€50k▲
Financial income75/76B€398€1k▲
Recurring financial income75€398€1k▲
Financial charges65/66B€7k€6k▼
Recurring financial charges65€7k€6k▼
Profit (loss) for the period before taxes9903€15k€45k▲
Income taxes67/77€5k€15k▲
Profit (loss) for the period9904€11k€30k▲
Profit (loss) for the period to be appropriated9905€11k€30k▲
Appropriation of the result
Profit (loss) to be appropriated9906€22k€41k▲
Profit (loss) brought forward from the previous period14P€12k€12k=
Transfer to equity691/2€8k€27k▲
To other reserves6921€8k€27k▲
Profit to be distributed694/7€2k€2k▲
Return on contributions (dividend)694€2k€2k▲
The notes to these accounts (7 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
30-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Highest result since 2019net €30k ▲177%
Operating result €50k, net result €30k, both a record.
07-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
23-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
10-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-08
Financial
Weakest financial yearnet €-281 ▼115%
Net result drops to €-281, the lowest in the series; recovery starts the following year.
08-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
26-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
04-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
18-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
22-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
06-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Ronse · 1 establishment unit since 2002
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.
Brokelaerestraat 179600 RonseGround area
1,929 m²
Building footprint
261 m²
Volume, LiDAR
1,240 m³
Parcel 45422C2026/00M000, Flanders · tallest building 9.7 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Brokelaerestraat 17, 9600 Ronse
since 20022.095.943.930
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45422C2026/00M000 | Flanders | 1,929 m² | 1 · 261 m² | 9.7 m · 1 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.
Similar companies · same sector, comparable size
GLOTEC
BE 0500.747.256
Zele · Eq €84k
I.B.I. Montage
BE 0831.290.592
Lokeren · Eq €84k
TUBHERMES
BE 0456.962.347
Aiseau-Presles · Eq €84k
DECOFAS
BE 0457.271.856
Tessenderlo-Ham · Eq €84k
ANTWERP STEEL PROJECTS
BE 0553.579.097
Brecht · Eq €84k
Of 3,964 companies in sector 25110 we hold annual accounts for 2,133. 1,568 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded21-02-2002
Fiscal year end30-09
Activities, NACEBEL
25110Manufacture of metal structures and parts of structures
28110
43320Joinery installation
45422
Sources
Crossroads Bank for EnterprisesNational Bank · 23 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.