HDW Belux
ActiveHDW Belux has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €4.65M and a net result of €1.04M. Equity is growing by ~38.8% per year across the filed fiscal years. Its solvency ranks better than 21% of 5988 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
57
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability67▼-7
Solvency42▼-5
Growth82▲+7
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €260k at 30 days acceptable
Liquidity ample (current ratio 1.82 against 4.26 in 2023; short-term debt: 43.4% and cash: 0% of total assets), but 82.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← 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 2024Solvency, return and age of the figures
Solvency
17.4%
Return on assets
3.9%
Age of the figures
20 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 5988 sector peers (2024).
NBB · sector comparisonPosition among 5988 sector peers
Solvency
better than 21%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
183 d late
2022
40 d early
2021
3 d early
2020
7 d early
2019
34 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, full schema
Turnover
€22.65M▲ 53.6%
2023 · €14.75M
2018: €8.48M
2020: €11.36M
2021: €17.06M
2022: €14.18M
2023: €14.75M
2018 → 2024
EBIT margin
8.9%▲ 1.2pp
2023 · 7.7%
2018: 5.8%
2020: 7.3%
2021: 7.4%
2022: 10.0%
2023: 7.7%
2018 → 2024
Net result
€1.04M▲ 65.4%
2023 · €628k
2018: €286k
2019: €384k
2020: €511k
2021: €887k
2022: €959k
2023: €628k
2018 → 2024
Working capital
€9.52M▲ 0.5%
2023 · €9.47M
2018: €3.22M
2019: €-1.38M
2020: €3.97M
2021: €3.43M
2022: €4.21M
2023: €9.47M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€11.36M-€17.06M▲ 50.2%€14.18M▼ 16.8%€14.75M▲ 4.0%€22.65M▲ 53.6%
Equity€1.14M-€2.02M▲ 78.1%€2.98M▲ 47.4%€3.61M▲ 21.1%€4.65M▲ 28.7%
Operating result€834k-€1.26M▲ 51.7%€1.42M▲ 12.2%€1.13M▼ 20.2%€2.02M▲ 78.4%
Net result€511k-€887k▲ 73.5%€959k▲ 8.1%€628k▼ 34.5%€1.04M▲ 65.4%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 78% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €26.79M
Fixed assets
€5.66M▲ 31.5%
Current assets
€21.13M▲ 70.8%
Equity and liabilities €26.79M
Equity
€4.65M▲ 28.7%
Debt
€22.14M▲ 69.4%
The debt ratio rises from 78.4% to 82.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€3.05M▲
2023 · €2.05M
Cash flow
€2.07M▲
2023 · €1.55M
Solvency
17.4%▼
2023 · 21.6%
Current ratio
1.82▼
2023 · 4.26
Quick ratio
0.60▼
2023 · 1.32
Debt / equity
4.76▲
2023 · 3.62
ROE
22.4%▲
2023 · 17.4%
ROA
3.9%▲
2023 · 3.8%
Interest coverage
4.80▼
2023 · 6.86
Debt
€22.14M▲
2023 · €13.07M
Debt ≤ 1 year
€11.61M▲
2023 · €2.91M
Debt > 1 year
€10.20M▲
2023 · €10.16M
Income taxes
€412k▲
2023 · €243k
Staff costs
€1.09M▲
2023 · €1.05M
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€16.68M€26.79M▲
Fixed assets21/28€4.31M€5.66M▲
Tangible fixed assets22/27€4.26M€5.62M▲
Plant, machinery and equipment23€3.76M€5.41M▲
Furniture and vehicles24€275k€198k▼
Other tangible fixed assets26€6k€9k▲
Assets under construction and advance payments27€222k€0▼
Financial fixed assets28€44k€44k=
Other financial fixed assets284/8€44k€44k=
Amounts receivable and cash guarantees285/8€44k€44k=
Current assets29/58€12.37M€21.13M▲
Stocks and contracts in progress3€8.54M€14.12M▲
Stocks30/36€8.54M€13.95M▲
Goods purchased for resale34€8.54M€13.95M▲
Contracts in progress37€0€174k▲
Amounts receivable within one year40/41€3.65M€6.79M▲
Trade receivables40€3.43M€6.78M▲
Other amounts receivable41€225k€7k▼
Cash at bank and in hand54/58€92k€4k▼
Deferred charges and accrued income490/1€95k€214k▲
Equity and liabilities
Total equity and liabilities10/49€16.68M€26.79M▲
Equity10/15€3.61M€4.65M▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€6k€6k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Profit (loss) carried forward14€3.54M€4.58M▲
Provisions and deferred taxes16€0-
Provisions for liabilities and charges160/5€0-
Other liabilities and charges164/5€0-
Amounts payable17/49€13.07M€22.14M▲
Amounts payable after more than one year17€10.16M€10.20M▲
Financial debts170/4€10.00M€10.00M=
Credit institutions173€0-
Other loans174€10.00M€10.00M=
Other amounts payable178/9€163k€203k▲
Amounts payable within one year42/48€2.91M€11.61M▲
Financial debts43€55k€0▼
Credit institutions430/8€0-
Other loans439€55k€0▼
Trade debts44€2.24M€2.67M▲
Suppliers440/4€2.24M€2.67M▲
Advances received on contracts in progress46€17k€17k▼
Taxes, remuneration and social security45€505k€684k▲
Taxes450/3€251k€525k▲
Remuneration and social security454/9€253k€159k▼
Other amounts payable47/48€92k€8.24M▲
Accrued charges and deferred income492/3-€323k
Income statement
Code20232024
Operating income70/76A€15.04M€23.05M▲
Turnover70€14.75M€22.65M▲
Change in stocks of work in progress, finished goods and contracts in progress71€-43k€0▲
Other operating income74€333k€401k▲
Operating charges60/66A€13.91M€21.03M▲
Goods for resale, raw materials and consumables60€11.27M€18.08M▲
Purchases600/8€15.44M€23.51M▲
Change in stocks: decrease (increase)609€-4.17M€-5.43M▼
Services and other goods61€637k€783k▲
Remuneration, social security and pensions62€1.05M€1.09M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€921k€1.03M▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€15k€21k▲
Other operating charges640/8€12k€19k▲
Non-recurring operating charges66A€0-
Operating profit (loss)9901€1.13M€2.02M▲
Financial income75/76B€39k€69k▲
Recurring financial income75€34k€69k▲
Income from financial fixed assets750-€27k
Other financial income752/9€34k€42k▲
Non-recurring financial income76B€5k€0▼
Financial charges65/66B€301k€639k▲
Recurring financial charges65€301k€639k▲
Debt charges650€299k€636k▲
Other financial charges652/9€2k€3k▲
Profit (loss) for the period before taxes9903€871k€1.45M▲
Income taxes67/77€243k€412k▲
Taxes670/3€243k€412k▲
Profit (loss) for the period9904€628k€1.04M▲
Profit (loss) for the period to be appropriated9905€628k€1.04M▲
Appropriation of the result
Profit (loss) to be appropriated9906€3.54M€4.58M▲
Profit (loss) brought forward from the previous period14P€2.92M€3.54M▲
Social balance
Average headcount (FTE)908710.411.9▲
The notes to these accounts (46 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 61 days late
30-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 183 days late
2024
31-12
Financial
Highest result since 2018net €1.04M ▲65.4%
Operating result €2.02M, net result €1.04M, both a record.
2023
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €2MEq €2.02M ▲78.1%
4 profitable years in a row build equity to €2.02M.
23-04
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
30-09
Financial
Liquidity quadruplescurrent ratio 3.41
Current ratio from 0.78 to 3.41; short-term debt falls from €6.26M to €1.64M.
30-09
Financial
Equity above €1MEq €1.14M ▲81.7%
3 profitable years in a row build equity to €1.14M.
03-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 34 days late
2019
30-09
Financial
Equity above €500kEq €625k ▲159%
2 profitable years in a row build equity to €625k.
18-04
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
30-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2015
31-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Tienen · 1 establishment unit since 2009
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.
Esperantolaan 123300 TienenGround area
1.3 ha
Building footprint
2,984 m²
Parcel 24592F0267/00L000, Flanders. Linked by address, not a title deed.
1 establishment unit
HDW BELUX
since 20092.182.865.630
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24592F0267/00L000 | Flanders | 1.3 ha | 1 · 2,984 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.
Recognitions · licences · registrations
Legal Entity Identifier
89450057DNQ41FHY8C74
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Of 151 companies in sector 46644 we hold annual accounts for 114. 65 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded10-09-2009
Fiscal year end31-12
Activities, NACEBEL
46644Wholesale trade
47811Retail sale of cars and light vans (up to 3.5 tonnes)
95312Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles
95319Other maintenance and repair of motor vehicles
Sources
Crossroads Bank for EnterprisesNational Bank · 14 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.