Skip to content
Private limited companyfounded 20206 yrs activeRue d'Abhooz 25, 4040 Herstal, BelgiumKBO/BCE: BE 0752.826.995
Summary

HDEX is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €1.2m and a net result of €98,043. Equity remains stable across the filed fiscal years (±0% per year). Its solvency ranks better than 80% of 2444 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.

Checked score

Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term

Show the recommended maximum : and see how the verdict changes with amount, term and advance.

Signals

1 signal. The signal on the left, the evidence on the right.
○neutral
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 13-04-2026, 109 days ahead of the deadline.
NBB · 6 filings
Deviation from the deadline
2025
109 d early
2024
155 d early
2023
98 d early
2022
62 d early
2021
109 d early
2020
159 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 115 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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 13 April (4 of the last 5 filed years within 46 days of that day).
Companies Code · seven months
Position in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · 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

History

HDEX was incorporated on 21 August 2020 as a Private limited company.1 Total assets went from EUR 1.3 million in 2020 to EUR 1.3 million in 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2020 and 2025

Go further with this company

Is this your company? See how customers and banks see it.

Investigating this company? Keep it with today's facts in a case file.

Financials · fiscal year 2025, full schema

Equity
€1.2m▼ 0.2%
2024 · €1.2m
Net result
€98,043▼ 60.5%
2024 · €247,940
Total assets
€1.3m▼ 10.2%
2024 · €1.4m
Solvency
92.0%▲ 9.3pp
2024 · 82.8%
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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-€1,215▲ 79.3%-€174▲ 85.7%-€1,802▼ 936%-€2,014▼ 11.8%-€1,911▲ 5.1%
Net result€138,786within the sector's middle half▼ 3.7%€49,784within the sector's middle half▼ 64.1%€98,152within the sector's middle half▲ 97.2%€247,940within the sector's middle half▲ 153%€98,043within the sector's middle half▼ 60.5%
Equity€1.2mwithin the sector's middle half▼ 0.1%€1.2mwithin the sector's middle half=€1.2mwithin the sector's middle half=€1.2mwithin the sector's middle half▲ 0.2%€1.2mwithin the sector's middle half▼ 0.2%
Total assets€1.3mbelow the sector's middle half=€1.2mbelow the sector's middle half▼ 6.9%€1.3mbelow the sector's middle half▲ 3.9%€1.4mbelow the sector's middle half▲ 11.7%€1.3mbelow the sector's middle half▼ 10.2%
Debt€142,149▲ 0.9%€51,466▼ 63.8%€99,551▲ 93.4%€245,888▲ 147%€101,801▼ 58.6%
Working capital€4,290within the sector's middle half▼ 15.4%€3,416within the sector's middle half▼ 20.4%€3,568within the sector's middle half▲ 4.5%€6,686within the sector's middle half▲ 87.4%€5,642within the sector's middle half▼ 15.6%
Solvency89.2%above the sector's middle half▼ 0.1pp95.8%above the sector's middle half▲ 6.6pp92.2%above the sector's middle half▼ 3.6pp82.8%within the sector's middle half▼ 9.4pp92.0%above the sector's middle half▲ 9.3pp
Current ratio1.03within the sector's middle half▼ 0.011.07within the sector's middle half▲ 0.041.04within the sector's middle half▼ 0.031.03within the sector's middle half▼ 0.011.06within the sector's middle half▲ 0.03
Return on assets (ROA)10.5%above the sector's middle half▼ 0.4pp4.1%within the sector's middle half▼ 6.5pp7.7%within the sector's middle half▲ 3.6pp17.4%above the sector's middle half▲ 9.7pp7.7%above the sector's middle half▼ 9.7pp
above within below the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
-€100,000€0€100,000€200,000Operating result 2021: -€1,215-€1,215Net result 2021: €138,786€138,786Operating result 2022: -€174-€174Net result 2022: €49,784€49,784Operating result 2023: -€1,802-€1,802Net result 2023: €98,152€98,152Operating result 2024: -€2,014-€2,014Net result 2024: €247,940€247,940Operating result 2025: -€1,911-€1,911Net result 2025: €98,043€98,04320212022202320242025-€100,000€0€100,000€200,000Operating result 2023: -€1,802-€1,800Net result 2023: €98,152€98,200Operating result 2024: -€2,014-€2,010Net result 2024: €247,940€248,000Operating result 2025: -€1,911-€1,910Net result 2025: €98,043€98,000202320242025
The operating result stays negative: a loss of €1,911 in 2025 against €2,014 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets €1.2m =
Current assets €105,642 ▼ 58.0%
Equity and liabilities €1.3m
Equity €1.2m ▼ 0.2%
Debt €101,801 ▼ 58.6%
Debt's share of the balance-sheet total falls from 17.2% to 8.0%. Equity and debt are lower.
Key figures and ratios
2025 value · change against 2024
ROE
8.3%▼
2024 · 21.0%
Debt ≤ 1 year
€100,000▼
2024 · €245,000
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 28 lines
Balance sheet Code20242025
Assets
Total assets20/58€1.4m€1.3m▼
Formation expenses20€0€0=
Fixed assets21/28€1.2m€1.2m=
Financial fixed assets28€1.2m€1.2m=
Current assets29/58€251,686€105,642▼
Cash at bank and in hand54/58€251,686€105,642▼
Equity and liabilities
Total equity and liabilities10/49€1.4m€1.3m▼
Equity10/15€1.2m€1.2m▼
Contributions10/11€1.2m€1.2m=
Profit (loss) carried forward14€5,798€3,841▼
Amounts payable17/49€245,888€101,801▼
Amounts payable within one year42/48€245,000€100,000▼
Other amounts payable47/48€245,000€100,000▼
Accrued charges and deferred income492/3€888€1,801▲
Income statement Code20242025
Other operating charges640/8€968€999▲
Gross operating margin9900-€1,046-€912▲
Operating profit (loss)9901-€2,014-€1,911▲
Financial income75/76B€250,000€100,000▼
Recurring financial income75€250,000€100,000▼
Financial charges65/66B€46€46=
Recurring financial charges65€46€46=
Profit (loss) for the period before taxes9903€247,940€98,043▼
Profit (loss) for the period9904€247,940€98,043▼
Profit (loss) for the period to be appropriated9905€247,940€98,043▼
Appropriation of the result
Profit (loss) to be appropriated9906€250,798€103,841▼
Profit (loss) brought forward from the previous period14P€2,858€5,798▲
Profit to be distributed694/7€245,000€100,000▼
Return on contributions (dividend)694€245,000€100,000▼

The notes to these accounts (2 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Goods, raw materials, services and sundry goods60/61€867-----
Other operating charges640/8€348€0€960€968€999▲ 3.2%
Gross operating margin9900-€867-€174-€841-€1,046-€912▲ 12.8%
Operating profit (loss)9901-€1,215-€174-€1,802-€2,014-€1,911▲ 5.1%
Financial income75/76B€140,000€50,000€100,000€250,000€100,000▼ 60.0%
Recurring financial income75€140,000€50,000€100,000€250,000€100,000▼ 60.0%
Financial charges65/66B-€42€46€46€46=
Recurring financial charges65-€42€46€46€46=
Profit (loss) for the period before taxes9903€138,786€49,784€98,152€247,940€98,043▼ 60.5%
Profit (loss) for the period9904€138,786€49,784€98,152€247,940€98,043▼ 60.5%
Profit (loss) for the period to be appropriated9905€138,786€49,784€98,152€247,940€98,043▼ 60.5%
Line20212022202320242025Change
Assets
Total assets20/58€1.3m€1.2m€1.3m€1.4m€1.3m▼ 10.2%
Formation expenses20€0€0€0€0€0-
Fixed assets21/28€1.2m€1.2m€1.2m€1.2m€1.2m=
Financial fixed assets28€1.2m€1.2m€1.2m€1.2m€1.2m=
Current assets29/58€145,071€54,172€102,409€251,686€105,642▼ 58.0%
Cash at bank and in hand54/58€145,071€54,172€102,409€251,686€105,642▼ 58.0%
Equity and liabilities
Total equity and liabilities10/49€1.3m€1.2m€1.3m€1.4m€1.3m▼ 10.2%
Equity10/15€1.2m€1.2m€1.2m€1.2m€1.2m▼ 0.2%
Contributions10/11€1.2m€1.2m€1.2m€1.2m€1.2m=
Profit (loss) carried forward14€2,922€2,706€2,858€5,798€3,841▼ 33.8%
Amounts payable17/49€142,149€51,466€99,551€245,888€101,801▼ 58.6%
Amounts payable within one year42/48€140,781€50,756€98,841€245,000€100,000▼ 59.2%
Trade debts44€781€756€841---
Suppliers440/4€781€756€841---
Taxes, remuneration and social security45€0-----
Taxes450/3€0-----
Other amounts payable47/48€140,000€50,000€98,000€245,000€100,000▼ 59.2%
Accrued charges and deferred income492/3€1,368€710€710€888€1,801▲ 103%
Line20212022202320242025Change
Profit (loss) for the period9904€138,786€49,784€98,152€247,940€98,043▼ 60.5%
Operating cash flow (approximation)€138,786€49,784€98,152€247,940€98,043▼ 60.5%
Investment in fixed assets (approximation)-€0€0€0€0-
Change in cash--€90,898€48,237€149,277-€146,045▼ 198%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
13-04
NBB filing Annual accounts filed
fiscal year 2025 · full schema
2025
26-02
NBB filing Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial Highest result since 2020net €247,940 ▲153%
Net result €247,940, the highest in the series.
24-04
NBB filing Annual accounts filed
fiscal year 2023 · full schema
2023
30-05
NBB filing Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial Weakest financial yearnet €49,784 ▼64.1%
Net result drops to €49,784, the lowest in the series; recovery starts the following year.
13-04
NBB filing Annual accounts filed
fiscal year 2021 · full schema
2021
22-02
NBB filing Annual accounts filed
fiscal year 2020 · micro 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.

Have them read with priority Sign in to place this company at the front of the reading queue.

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, Herstal · 1 establishment unit since 2020
seat establishment The establishment unit on the map
Ground area
2,751 m²
Building footprint
163 m²
Volume, LiDAR
1,413 m³
Parcel 62312A0453/00W000, Wallonia · tallest building 10.3 m, ±3 floors. Linked by address, not a title deed.
3 companies at this address See who is registered here
1 establishment unit
HDEX
Rue d'Abhooz 25, 4040 HerstalHoldings
since 20202.307.950.593
1 parcel
Wallonia 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
62312A0453/00W000 Wallonia 2,751 m² 1 · 163 m² 10.3 m · 3 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

1 owner · 1 holding

Chain of control

  1. NDTS 59.44%
  2. HDEX

Highest known parent: NDTS. The sources do not say who stands above it.

Owners 1

Holdings 1

According to the 2025 annual accounts of HDEX 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.

Similar companies · same sector, comparable size

Of 24,729 companies in sector 64210 we hold annual accounts for 19,800. 12,311 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
Founded21-08-2020
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Not found in the Peppol register

No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.

What can you do?

Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.

If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance

If you follow this company, Checked tells you the day it appears in the Peppol register.

Register as of 29 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.