HEDONIA
ActiveHEDONIA has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €93k and a net result of €23k. Equity is growing by ~8.7% per year across the filed fiscal years. Its solvency ranks better than 26% of 2324 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
72
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability78▲+2
Solvency54▲+5
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 2.95 against 3.03 in 2024; short-term debt: 27.6% and cash: 2.3% of total assets), but 71.1% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 86
Relative position
BE, all sectors
reference
Sector 86
lower
← 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
28.9%
Return on assets
7.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-08-2026, 30 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
30 d late
2024
31 d late
2023
30 d late
2022
30 d late
2021
26 d late
2020
30 d late
2019
31 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€93k▲ 3.4%
2024 · €90k
2018: €55k
2019: €63k
2020: €55k
2021: €67k
2022: €56k
2023: €88k
2024: €90k
2018 → 2025
Total assets
€324k▼ 15.1%
2024 · €381k
2018: €553k
2019: €520k
2020: €530k
2021: €530k
2022: €463k
2023: €431k
2024: €381k
2018 → 2025
Net result
€23k▲ 3.4%
2024 · €22k
2018: €22k
2019: €28k
2020: €2k
2021: €27k
2022: €382
2023: €47k
2024: €22k
2018 → 2025
Working capital
€175k▼ 2.9%
2024 · €180k
2018: €178k
2019: €177k
2020: €174k
2021: €193k
2022: €166k
2023: €184k
2024: €180k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€67k-€56k▼ 17.2%€88k▲ 57.6%€90k▲ 2.6%€93k▲ 3.4%
Operating result€37k-€7k▼ 81.5%€61k▲ 809%€30k▼ 51.6%€33k▲ 10.5%
Net result€27k-€382▼ 98.6%€47k▲ 12,256%€22k▼ 52.7%€23k▲ 3.4%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 11% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €324k
Fixed assets
€60k▼ 47.1%
Current assets
€264k▼ 1.6%
Equity and liabilities €324k
Equity
€93k▲ 3.4%
Debt
€230k▼ 20.8%
The debt ratio falls from 76.3% to 71.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€86k▲
2024 · €84k
Cash flow
€76k▼
2024 · €76k
Solvency
28.9%▲
2024 · 23.7%
Current ratio
2.95▼
2024 · 3.03
Quick ratio
2.95▼
2024 · 3.03
Debt / equity
2.46▼
2024 · 3.22
ROE
24.7%=
2024 · 24.7%
ROA
7.1%▲
2024 · 5.9%
Interest coverage
13.75▲
2024 · 11.39
Debt
€230k▼
2024 · €291k
Debt ≤ 1 year
€89k▲
2024 · €89k
Debt > 1 year
€139k▼
2024 · €197k
Income taxes
€4k▲
2024 · €3k
Staff costs
€895▲
2024 · €703
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€381k€324k▼
Fixed assets21/28€113k€60k▼
Tangible fixed assets22/27€113k€60k▼
Land and buildings22€26k€12k▼
Plant, machinery and equipment23€11k€4k▼
Other tangible fixed assets26€75k€44k▼
Current assets29/58€268k€264k▼
Amounts receivable after more than one year29€146k€146k=
Other amounts receivable291€146k€146k=
Amounts receivable within one year40/41€117k€111k▼
Trade receivables40€40k-
Other amounts receivable41€77k€111k▲
Cash at bank and in hand54/58€5k€7k▲
Equity and liabilities
Total equity and liabilities10/49€381k€324k▼
Equity10/15€90k€93k▲
Contributions10/11€19k€19k=
Outside capital11€19k€19k=
Other1109/19€19k€19k=
Reserves13€8k€8k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€6k€6k=
Profit (loss) carried forward14€64k€67k▲
Amounts payable17/49€291k€230k▼
Amounts payable after more than one year17€197k€139k▼
Financial debts170/4€197k€139k▼
Amounts payable within one year42/48€89k€89k▲
Current portion of amounts payable after more than one year42€57k€63k▲
Trade debts44€5k€944▼
Suppliers440/4€5k€944▼
Taxes, remuneration and social security45€6k€5k▼
Taxes450/3€6k€5k▼
Other amounts payable47/48€20k€20k=
Accrued charges and deferred income492/3€5k€2k▼
Income statement
Code20242025
Remuneration, social security and pensions62€703€895▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€54k€53k▼
Other operating charges640/8€2k€3k▲
Non-recurring operating charges66A-€40k
Gross operating margin9900€86k€129k▲
Operating profit (loss)9901€30k€33k▲
Financial income75/76B€3k€57▼
Recurring financial income75€3k€57▼
Financial charges65/66B€7k€6k▼
Recurring financial charges65€7k€6k▼
Profit (loss) for the period before taxes9903€25k€27k▲
Income taxes67/77€3k€4k▲
Profit (loss) for the period9904€22k€23k▲
Profit (loss) for the period to be appropriated9905€22k€23k▲
Appropriation of the result
Profit (loss) to be appropriated9906€84k€87k▲
Profit (loss) brought forward from the previous period14P€62k€64k▲
Profit to be distributed694/7€20k€20k=
Directors or managers695€20k€20k=
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
30-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 30 days late
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Highest result since 2018net €47k ▲12256%
Operating result €61k, net result €47k, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-12
Financial
Weakest financial yearnet €382 ▼98.6%
Net result drops to €382, the lowest in the series; recovery starts the following year.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · 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, Gent · 1 establishment unit since 2005
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.
Gaverlandstraat 619031 GentGround area
3,174 m²
Building footprint
503 m²
Volume, LiDAR
3,098 m³
2 parcels, Flanders · tallest building 10.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
HEDONIA
since 20052.144.522.025
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44017D1420/00K000 | Flanders | 1,615 m² | 1 · 162 m² | 7.5 m · 2 fl. |
| 44017D1420/00M000 | Flanders | 1,559 m² | 1 · 341 m² | 10.2 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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KAD THERAPY
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KINE MIEKE VERVAET
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Of 12,689 companies in sector 86951 we hold annual accounts for 2,142. 1,874 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded21-12-2004
Fiscal year end31-12
Activities, NACEBEL
86905Human health activities
86951Physiotherapy
93040
96040Personal service activities
96230Day spas, saunas and steam baths
Sources
Crossroads Bank for EnterprisesNational Bank · 21 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.