HELLAS
ActiveSummary
HELLAS has been active since 2007 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€7,881) and a net result of €35,894. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 12% of 9,288 sector peers (NACE 41, financial year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Overview
- Equity
- -€7,881
- Profit
- €35,894
Why 55raises riskCapped at 59: negative equitySector: Construction of residential and non-residential buildings (NACE 41)2 of the last 3 lateNegative equity -€7,881lowers riskSize: total assets €646,319Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 41, micro): better than 11% on solvency, 16% on liquidity, 53% on profitability and 86% on growth.
The bankruptcy probability was computed on 22-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 48 days after the deadline; the sector median (NACE 41) for financial year 2024 is on the deadline day, and 46% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Highest result from 2018 to 2025net €35,894 ▲481%
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 465% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 41, Construction of residential and non-residential buildings: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 265 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 94.3% are still going.
- Small
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
A further 1.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,473 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 265 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €27,339 | €35,842 | €28,025 | €32,962 | €17,561 | ▼ 46.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,218 | €3,538 | - | €1,335 | €1,392 | €1,593 | €2,693 | €3,194 | ▲ 18.6% |
| Other operating charges640/8 | - | - | - | €1,521 | €1,352 | €5,068 | €8,254 | €1,884 | ▼ 77.2% |
| Gross operating margin9900 | €66,736 | €70,852 | €40,464 | -€2,906 | €30,592 | €18,184 | €50,678 | €60,885 | ▲ 20.1% |
| Operating profit (loss)9901 | -€15,881 | -€3,374 | €5,484 | -€33,102 | -€7,994 | -€16,502 | €6,769 | €38,247 | ▲ 465% |
| Financial income75/76B | - | - | - | €455 | €33 | €2,281 | €628 | €57 | ▼ 90.9% |
| Recurring financial income75 | - | - | - | €455 | €33 | €2,281 | €628 | €57 | ▼ 90.9% |
| Financial charges65/66B | - | - | - | €1,415 | €13,742 | €2,289 | €1,218 | €2,410 | ▲ 97.9% |
| Recurring financial charges65 | €2,299 | €35 | €166 | €1,415 | €13,742 | €2,289 | €1,218 | €2,410 | ▲ 97.9% |
| Profit (loss) for the period before taxes9903 | -€18,180 | -€3,409 | €5,318 | -€34,061 | -€21,704 | -€16,509 | €6,180 | €35,894 | ▲ 481% |
| Profit (loss) for the period9904 | -€18,180 | -€3,409 | €5,318 | -€34,061 | -€21,704 | -€16,509 | €6,180 | €35,894 | ▲ 481% |
| Profit (loss) for the period to be appropriated9905 | -€18,180 | -€3,409 | €5,318 | -€34,061 | -€21,704 | -€16,509 | €6,180 | €35,894 | ▲ 481% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €598,183 | €545,110 | €541,885 | €606,894 | €744,196 | €709,966 | €649,630 | €646,319 | ▼ 0.5% |
| Fixed assets21/28 | €13,799 | €10,261 | €10,261 | €11,376 | €11,304 | €5,911 | €15,323 | €12,129 | ▼ 20.8% |
| Intangible fixed assets21 | €2,500 | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €7,499 | €6,461 | €6,461 | €7,576 | €7,504 | €5,911 | €15,323 | €12,129 | ▼ 20.8% |
| Other tangible fixed assets26 | - | - | - | €7,576 | €7,504 | €5,911 | €15,323 | €12,129 | ▼ 20.8% |
| Financial fixed assets28 | €3,800 | €3,800 | €3,800 | €3,800 | €3,800 | - | - | - | - |
| Current assets29/58 | €584,384 | €534,849 | €531,624 | €595,519 | €732,892 | €704,055 | €634,307 | €634,190 | = |
| Stocks and contracts in progress3 | €519,248 | €498,789 | €488,763 | €530,754 | €665,874 | €657,365 | €609,866 | €553,645 | ▼ 9.2% |
| Stocks30/36 | - | - | - | €530,754 | €665,874 | €657,365 | €609,866 | €553,645 | ▼ 9.2% |
| Amounts receivable within one year40/41 | €52,206 | €29,418 | €25,289 | €34,354 | €36,935 | €22,440 | €18,288 | €72,163 | ▲ 295% |
| Trade receivables40 | - | - | - | €10,917 | €14,470 | - | €110 | €53,985 | ▲ 48,977% |
| Other amounts receivable41 | - | - | - | €23,437 | €22,465 | €22,440 | €18,178 | €18,178 | = |
| Cash at bank and in hand54/58 | €11,030 | €6,641 | €15,271 | €30,410 | €29,946 | €24,250 | €6,153 | €8,382 | ▲ 36.2% |
| Deferred charges and accrued income490/1 | - | - | - | - | €137 | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €598,183 | €545,110 | €541,885 | €606,894 | €744,196 | €709,966 | €649,630 | €646,319 | ▼ 0.5% |
| Equity10/15 | €20,409 | €17,000 | €22,319 | -€11,743 | -€33,446 | -€49,955 | -€43,775 | -€7,881 | ▲ 82.0% |
| Contributions10/11 | €81,000 | €81,000 | - | €81,000 | €81,000 | €81,000 | €81,000 | €81,000 | = |
| Contributions outside capital11 | - | - | - | €81,000 | €81,000 | - | - | - | - |
| Share premium1100/10 | - | - | - | €81,000 | €81,000 | - | - | - | - |
| Profit (loss) carried forward14 | -€60,591 | -€64,000 | -€58,681 | -€92,743 | -€114,446 | -€130,955 | -€124,775 | -€88,881 | ▲ 28.8% |
| Amounts payable17/49 | €577,774 | €528,110 | €519,567 | €618,637 | €777,642 | €759,921 | €693,406 | €654,200 | ▼ 5.7% |
| Amounts payable after more than one year17 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Other amounts payable178/9 | - | - | - | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Amounts payable within one year42/48 | €327,774 | €278,110 | €269,567 | €367,449 | €527,642 | €509,921 | €443,406 | €401,915 | ▼ 9.4% |
| Trade debts44 | €168,408 | €67,630 | €11,506 | €19,178 | €134,427 | €73,028 | €53,943 | €58,815 | ▲ 9.0% |
| Suppliers440/4 | - | - | - | €19,178 | €134,427 | €73,028 | €53,943 | €58,815 | ▲ 9.0% |
| Taxes, remuneration and social security45 | - | - | - | €12,047 | €15,473 | €25,883 | €23,847 | €20,411 | ▼ 14.4% |
| Taxes450/3 | - | - | - | €9,452 | €12,701 | €20,806 | €13,075 | €17,225 | ▲ 31.7% |
| Remuneration and social security454/9 | - | - | - | €2,595 | €2,772 | €5,077 | €10,773 | €3,186 | ▼ 70.4% |
| Other amounts payable47/48 | - | - | - | €336,224 | €377,742 | €411,010 | €365,615 | €322,689 | ▼ 11.7% |
| Accrued charges and deferred income492/3 | - | - | - | €1,188 | - | - | - | €2,285 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€18,180 | -€3,409 | €5,318 | -€34,061 | -€21,704 | -€16,509 | €6,180 | €35,894 | ▲ 481% |
| + Depreciation and write-downs630 | €11,218 | €3,538 | - | €1,335 | €1,392 | €1,593 | €2,693 | €3,194 | ▲ 18.6% |
| Operating cash flow (approximation) | -€6,962 | €129 | €5,318 | -€32,726 | -€20,312 | -€14,916 | €8,873 | €39,088 | ▲ 341% |
| Investment in fixed assets (approximation) | - | -€0 | €0 | -€2,450 | -€1,320 | €3,800 | -€12,105 | €0 | - |
| Change in cash | - | -€4,389 | €8,630 | €15,139 | -€464 | -€5,696 | -€18,097 | €2,229 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 16 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 21-07-2026 | 2026-00314044 |
| 31-12-2024 | micro format | 03-10-2025 | 2025-00530766 |
| 31-12-2023 | micro format | 05-12-2024 | 2024-00611513 |
| 31-12-2022 | micro format | 22-08-2023 | 2023-00354992 |
| 31-12-2021 | micro format | 06-09-2022 | 2022-20420916 |
| 31-12-2020 | micro format | 02-08-2021 | 2021-45200524 |
| 31-12-2019 | micro format | 30-10-2020 | 2020-67900183 |
| 31-12-2018 | micro format | 31-12-2019 | 2019-77900097 |
| 31-12-2017 | micro format | 27-09-2018 | 2018-65300472 |
| 31-03-2017 | micro format | 31-10-2017 | 2017-69100485 |
Similar companies · same sector and region
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| KAZANTZIS Jean |
|
Owners and capital
Owners
1 ownerChain of control
- SOPHARIS
- HELLAS
Highest known parent: SOPHARIS. The sources do not say who stands above it.
Owners 1
- SOPHARISparentSourceaccounts SOPHARIS 202599%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- 24-12-2024 Converted to unavailable equity · €81,000
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
24-12
Gazette deed
Resignation: KAZANTZIS Jean (manager)Appointment: KAZANTZIS Jean (director) · Amendment of the articles · Capital conversion10 facts ▸
- General meeting, 28-11-2024
- Amendment of the articles (2 times)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Capital (2 times)
- Director resignation, KAZANTZIS Jean (manager)
- Director appointment, KAZANTZIS Jean (director (not named in the articles))
- Director discharge, KAZANTZIS Jean (gérant démissionnaire)
- Registered office clause, “7130 Binche,Rue Zéphirin Fontaine 140” (deed in French)
- Power of attorney (2 times)
- Power of attorney, Aline Pirlot
Show earlier events
About the unread acts
Of the 6 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 22 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0891.488.101
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 56011D0059/00R002indicative | Wallonia | 831 m² | 1 · 214 m² | 11.2 m · 3 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- HELLAS
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne, organe d'administration peut par simple décision établir sièges administratifs,agences,ateliers,dépôts et succursales tant…” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Indépendamment frais représentation voyages déplacements, frais généraux” (deed in French)1 more provision on this in the deed
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- One provision in the deed
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- One provision in the deed
- Share issue ruleHow and by whom new shares can be issued.
- “Ouverture et délai fixés par organe procédant à émission,portés à connaissance par courrier électronique,ou courrier ordinaire même jour…” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- 30 June at 10:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Dissolution tout temps par décision AG délibérant formes prévues modifications statuts” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Faculté AG désigner liquidateurs et déterminer pouvoirs et émoluments, dissolution pour quelque cause et moment que ce soit” (deed in French)