HEDCON
ActiveThe annual accounts of HEDCON for fiscal year 2025 show a net loss of 79% of the equity at the start of that year. The 2025 annual accounts show equity of €8k and a net result of €-31k. Equity is growing by ~11.4% per year across the filed fiscal years. Its solvency ranks better than 13% of 31584 sector peers (fiscal year 2025). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
36
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-12
Solvency30▼-22
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.61 against 0.84 in 2024; short-term debt: 85.1% and cash: 0% of total assets), and 94.7% 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
raises risk · 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 2025Solvency, return and age of the figures
Solvency
5.3%
Return on assets
-20.1%
Age of the figures
12 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-31k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 31584 sector peers (2025).
NBB · sector comparisonPosition among 31584 sector peers
Solvency
better than 13%
← weakest
strongest →
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 31-03-2026, 30 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
30 d early
2024
on the day
2023
1 d early
2022
11 d early
2021
11 d early
2020
15 d early
2019
27 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
19-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€8k▼ 79.0%
2024 · €39k
2018: €16k
2019: €25k
2020: €31k
2021: €38k
2022: €40k
2023: €46k
2024: €39k
2018 → 2025
Total assets
€153k▲ 5.8%
2024 · €144k
2018: €99k
2019: €108k
2020: €100k
2021: €102k
2022: €99k
2023: €129k
2024: €144k
2018 → 2025
Net result
€-31k▼ 310%
2024 · €-7k
2018: €10k
2019: €9k
2020: €6k
2021: €7k
2022: €2k
2023: €6k
2024: €-7k
2018 → 2025
Working capital
€-51k▼ 290%
2024 · €-13k
2018: €492
2019: €5k
2020: €8k
2021: €8k
2022: €4k
2023: €2k
2024: €-13k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€38k-€40k▲ 4.5%€46k▲ 15.9%€39k▼ 16.1%€8k▼ 79.0%
Operating result€12k-€3k▼ 72.2%€11k▲ 234%€-6k€-29k▼ 384%
Net result€7k-€2k▼ 76.6%€6k▲ 271%€-7k€-31k▼ 310%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €29k in 2025 against €6k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €153k
Fixed assets
€74k▼ 1.7%
Current assets
€79k▲ 14.0%
Equity and liabilities €153k
Equity
€8k▼ 79.0%
Debt
€145k▲ 37.1%
The debt ratio rises from 73.1% to 94.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-28k▼
2024 · €-5k
Cash flow
€-29k▼
2024 · €-6k
Solvency
5.3%▼
2024 · 26.9%
Current ratio
0.61▼
2024 · 0.84
Quick ratio
0.61▼
2024 · 0.84
Debt / equity
17.75▲
2024 · 2.72
ROE
-376.5%▼
2024 · -19.3%
ROA
-20.1%▼
2024 · -5.2%
Interest coverage
-5.24▼
2024 · -2.12
Debt
€145k▲
2024 · €106k
Debt ≤ 1 year
€130k▲
2024 · €82k
Debt > 1 year
€15k▼
2024 · €23k
Income taxes
€805▼
2024 · €3k
Staff costs
€13k▲
2024 · €13k
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€144k€153k▲
Fixed assets21/28€75k€74k▼
Tangible fixed assets22/27€10k€9k▼
Land and buildings22€9k€8k▼
Furniture and vehicles24€523€283▼
Financial fixed assets28€65k€65k=
Current assets29/58€69k€79k▲
Amounts receivable after more than one year29€69k€0▼
Other amounts receivable291€69k€0▼
Amounts receivable within one year40/41€814€79k▲
Trade receivables40€814€550▼
Other amounts receivable41€0€79k▲
Cash at bank and in hand54/58€1€18▲
Deferred charges and accrued income490/1€0-
Equity and liabilities
Total equity and liabilities10/49€144k€153k▲
Equity10/15€39k€8k▼
Contributions10/11€6k€6k=
Reserves13€33k€33k=
Distributable reserves133€33k€33k=
Profit (loss) carried forward14-€-31k
Amounts payable17/49€106k€145k▲
Amounts payable after more than one year17€23k€15k▼
Financial debts170/4€23k€15k▼
Amounts payable within one year42/48€82k€130k▲
Current portion of amounts payable after more than one year42€8k€8k▲
Trade debts44€17k€28k▲
Suppliers440/4€17k€28k▲
Advances received on contracts in progress46€0€52k▲
Taxes, remuneration and social security45€26k€10k▼
Taxes450/3€26k€10k▼
Remuneration and social security454/9€0-
Other amounts payable47/48€31k€31k=
Income statement
Code20242025
Remuneration, social security and pensions62€13k€13k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€1k▲
Other operating charges640/8€6k€7k▲
Gross operating margin9900€13k€-7k▼
Operating profit (loss)9901€-6k€-29k▼
Financial income75/76B€3k€4k▲
Recurring financial income75€3k€4k▲
Financial charges65/66B€2k€5k▲
Recurring financial charges65€2k€5k▲
Profit (loss) for the period before taxes9903€-5k€-30k▼
Income taxes67/77€3k€805▼
Profit (loss) for the period9904€-7k€-31k▼
Profit (loss) for the period to be appropriated9905€-7k€-31k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-7k€-31k▼
Transfer from equity791/2€7k€0▼
Transfer to equity691/2€0-
To other reserves6921€0-
The notes to these accounts (10 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
31-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Weakest financial yearnet €-31k
Net result drops to €-31k, the lowest in the series.
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
19-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
19-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
15-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
03-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
02-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro 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, Roeselare · 1 establishment unit since 2017
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.
Kasteeldreef 238800 RoeselareGround area
797 m²
Building footprint
141 m²
Volume, LiDAR
750 m³
Parcel 36502B0558/00M000, Flanders · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
HEDCON
since 20172.272.456.612
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36502B0558/00M000 | Flanders | 797 m² | 1 · 141 m² | 8.9 m · 2 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.
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Of 5,696 companies in sector 70100 we hold annual accounts for 3,489. 1,059 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded03-10-2017
Fiscal year end30-09
Activities, NACEBEL
70100Activities of head offices
82100Office administrative and support services
82110Office administrative, office support and other business support activities
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.