HDW
ActiveHDW has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €32k and a net result of €8k. Equity is growing by ~18.8% per year across the filed fiscal years. Its solvency ranks better than 53% of 27451 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
78
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability85▲+8
Solvency75▲+14
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity ample (current ratio 1.81 against 1.39 in 2024; short-term debt: 50.1% and cash: 35.3% of total assets), but 50.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five 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
Sector 43
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
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 06-01-2026, 25 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
25 d early
2024
18 d early
2023
15 d early
2022
11 d early
2021
5 d early
2020
on the day
2019
on the day
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close17-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€32k▲ 35.7%
2024 · €23k
2019: €1k
2020: €16k
2021: €25k
2022: €29k
2023: €19k
2024: €23k
2019 → 2025
Total assets
€64k▼ 3.3%
2024 · €66k
2019: €23k
2020: €27k
2021: €72k
2022: €77k
2023: €66k
2024: €66k
2019 → 2025
Net result
€8k▲ 92.5%
2024 · €4k
2019: €3k
2020: €15k
2021: €8k
2022: €5k
2023: €-10k
2024: €4k
2019 → 2025
Working capital
€26k▲ 79.0%
2024 · €14k
2019: €2k
2020: €17k
2021: €11k
2022: €18k
2023: €9k
2024: €14k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€25k-€29k▲ 20.0%€19k▼ 35.2%€23k▲ 22.8%€32k▲ 35.7%
Operating result€10k-€8k▼ 26.9%€-10k€5k€11k▲ 110%
Net result€8k-€5k▼ 41.9%€-10k€4k€8k▲ 92.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 110% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €64k
Fixed assets
€6k▼ 59.8%
Current assets
€58k▲ 12.8%
Equity and liabilities €64k
Equity
€32k▲ 35.7%
Debt
€32k▼ 24.9%
The debt ratio falls from 64.4% to 50.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€20k▲
2024 · €14k
Cash flow
€17k▲
2024 · €13k
Solvency
49.9%▲
2024 · 35.6%
Current ratio
1.81▲
2024 · 1.39
Quick ratio
1.55▲
2024 · 1.14
Debt / equity
1.00▼
2024 · 1.81
ROE
26.3%▲
2024 · 18.5%
ROA
13.1%▲
2024 · 6.6%
Interest coverage
38.23▲
2024 · 12.37
Debt
€32k▼
2024 · €42k
Debt ≤ 1 year
€32k▼
2024 · €37k
Debt > 1 year
€0▼
2024 · €6k
Income taxes
€2k▲
2024 · €0
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€66k€64k▼
Fixed assets21/28€15k€6k▼
Tangible fixed assets22/27€15k€6k▼
Furniture and vehicles24€15k€6k▼
Current assets29/58€51k€58k▲
Stocks and contracts in progress3€9k€8k▼
Stocks30/36€9k€8k▼
Contracts in progress37€0-
Amounts receivable within one year40/41€33k€27k▼
Trade receivables40€31k€24k▼
Other amounts receivable41€2k€3k▲
Cash at bank and in hand54/58€9k€22k▲
Deferred charges and accrued income490/1€320€316▼
Equity and liabilities
Total equity and liabilities10/49€66k€64k▼
Equity10/15€23k€32k▲
Contributions10/11€12k€12k=
Reserves13€13k€20k▲
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€13k€20k▲
Profit (loss) carried forward14€-2k€0▲
Amounts payable17/49€42k€32k▼
Amounts payable after more than one year17€6k€0▼
Financial debts170/4€6k€0▼
Amounts payable within one year42/48€37k€32k▼
Current portion of amounts payable after more than one year42€7k€6k▼
Trade debts44€19k€12k▼
Suppliers440/4€19k€12k▼
Advances received on contracts in progress46€1k€0▼
Taxes, remuneration and social security45€1k€3k▲
Taxes450/3€1k€3k▲
Other amounts payable47/48€9k€11k▲
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€9k=
Other operating charges640/8€2k€1,000▼
Gross operating margin9900€16k€21k▲
Operating profit (loss)9901€5k€11k▲
Financial income75/76B€288€25▼
Recurring financial income75€288€25▼
Financial charges65/66B€1k€514▼
Recurring financial charges65€1k€514▼
Profit (loss) for the period before taxes9903€4k€10k▲
Income taxes67/77€0€2k▲
Profit (loss) for the period9904€4k€8k▲
Profit (loss) for the period to be appropriated9905€4k€8k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-4k€6k▲
Profit (loss) brought forward from the previous period14P€-8k€-2k▲
Transfer from equity791/2€2k€0▼
Transfer to equity691/2-€6k
To other reserves6921-€6k
The notes to these accounts (6 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
06-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
13-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
16-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Weakest financial yearnet €-10k ▼311%
Net result drops to €-10k, the lowest in the series; recovery starts the following year.
20-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
Financial
Highest result since 2019net €15k ▲374%
Operating result €15k, net result €15k, both a record.
30-06
Financial
Liquidity doublescurrent ratio 2.62
Current ratio from 1.09 to 2.62; short-term debt falls from €21k to €10k.
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
27-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
2018
28-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
30-01
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
5 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, Zedelgem · 1 establishment unit since 2008
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.
Lindestraat 458210 ZedelgemGround area
236 m²
Building footprint
138 m²
Volume, LiDAR
463 m³
Parcel 31040D0333/00E002, Flanders · tallest building 6.4 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
HDW
since 20082.172.695.971
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31040D0333/00E002 | Flanders | 236 m² | 1 · 138 m² | 6.4 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
ROSARIO CONSTRUCT
BE 0866.651.844
Brussel · Eq €32k
Ronsmans-Nys
BE 0724.836.854
Tielt-Winge · Eq €32k
FØMAR
BE 1019.187.809
Leuven · Eq €32k
T.E. CLEANING & RENOVATION
BE 0676.825.418
Elsene · Eq €32k
NANO
BE 0799.134.696
Schoten · Eq €32k
Of 15,542 companies in sector 43990 we hold annual accounts for 7,421. 5,731 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded25-04-2008
Fiscal year end30-06
Activities, NACEBEL
43990Other specialised construction activities
43999Specialised construction activities
43110Demolition
43230Insulation installation
43291Specialised construction activities
43320Joinery installation
43422Screed work
43910Bricklaying and masonry work
43994Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 17 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.