HELLO SQUARE
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 30-05-2026 PDF all 10 filings
Turnover
€2.2m▲ 13.8%
2024 · €1.9m
EBIT margin
2.5%▲ 0.1pp
2024 · 2.5%
Net result
€26,939▲ 13.0%
2024 · €23,831
Working capital
€335,355▲ 8.8%
2024 · €308,353
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€2.2m
▲ 13.8%
2025
20182025
Operating result
€54,118
▲ 16.3%
2025
20182025
Net result
€26,939
▲ 13.0%
2025
middle half of the sector
20182025
EBIT margin
2.5%
▲ 0.1pp
2025
20182025
Equity
€333,866
▲ 8.8%
2025
middle half of the sector
20182025
Total assets
€808,208
▲ 22.2%
2025
lowest quarter of the sector
20182025
Debt
€474,342
▲ 33.9%
2025
20182025
Working capital
€335,355
▲ 8.8%
2025
middle half of the sector
20182025
Solvency
41.3%
▼ 5.1pp
2025
middle half of the sector
20182025
Current ratio
1.71
▼ 0.16
2025
middle half of the sector
20182025
Return on assets (ROA)
3.3%
▼ 0.3pp
2025
middle half of the sector
20182025
Staff (FTE)
28
▲ 6.1%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€2.0m-€2.1m▲ 2.9%€2.0m▼ 4.3%€1.9m▼ 5.0%€1.9m▲ 0.5%€2.7m▲ 43.8%€1.9m▼ 31.1%€2.2m▲ 13.8%
Operating result€0.07m-€0.03m▼ 56.9%€0.04m▲ 33.8%€0.05m▲ 17.8%€0.05m▼ 0.7%€0.08m▲ 62.3%€0.05m▼ 40.3%€0.05m▲ 16.3%
Net result€0.04m-€0.01m▼ 77.0%€0.02mwithin the sector's middle half▲ 99.1%€0.02mwithin the sector's middle half▲ 26.1%€0.02mwithin the sector's middle half▼ 0.4%€0.05mwithin the sector's middle half▲ 99.9%€0.02mwithin the sector's middle half▼ 49.8%€0.03mwithin the sector's middle half▲ 13.0%
EBIT margin3.5%-1.5%▼ 2.0pp2.1%▲ 0.6pp2.5%▲ 0.5pp2.5%=2.8%▲ 0.3pp2.5%▼ 0.4pp2.5%▲ 0.1pp
Equity€0.2m-€0.2m▲ 6.0%€0.2mwithin the sector's middle half▲ 11.2%€0.2mwithin the sector's middle half▲ 12.7%€0.2mwithin the sector's middle half▲ 11.2%€0.3mwithin the sector's middle half▲ 20.2%€0.3mwithin the sector's middle half▲ 8.4%€0.3mwithin the sector's middle half▲ 8.8%
Total assets€0.5m-€0.5m▼ 1.4%€0.6mwithin the sector's middle half▲ 12.2%€0.8mwithin the sector's middle half▲ 39.2%€0.7mwithin the sector's middle half▼ 17.9%€0.8mwithin the sector's middle half▲ 27.2%€0.7mwithin the sector's middle half▼ 20.5%€0.8mbelow the sector's middle half▲ 22.2%
Debt€0.4m-€0.3m▼ 4.7%€0.4m▲ 12.7%€0.6m▲ 52.1%€0.4m▼ 28.4%€0.5m▲ 31.1%€0.4m▼ 35.4%€0.5m▲ 33.9%
Working capital€0.2m-€0.2m▲ 6.2%€0.2mwithin the sector's middle half▲ 11.3%€0.2mwithin the sector's middle half▲ 13.4%€0.2mwithin the sector's middle half▲ 11.2%€0.3mwithin the sector's middle half▲ 20.1%€0.3mwithin the sector's middle half▲ 8.4%€0.3mwithin the sector's middle half▲ 8.8%
Solvency30.8%-33.1%▲ 2.3pp32.8%within the sector's middle half▼ 0.3pp26.6%within the sector's middle half▼ 6.2pp36.0%within the sector's middle half▲ 9.4pp34.0%within the sector's middle half▼ 2.0pp46.4%within the sector's middle half▲ 12.4pp41.3%within the sector's middle half▼ 5.1pp
Current ratio1.44-1.49▲ 0.051.49within the sector's middle half▼ 0.011.37within the sector's middle half▼ 0.121.57within the sector's middle half▲ 0.201.52within the sector's middle half▼ 0.051.87within the sector's middle half▲ 0.351.71within the sector's middle half▼ 0.16
Return on assets (ROA)8.0%-1.9%▼ 6.1pp3.3%within the sector's middle half▲ 1.4pp3.0%within the sector's middle half▼ 0.3pp3.6%within the sector's middle half▲ 0.6pp5.7%within the sector's middle half▲ 2.1pp3.6%within the sector's middle half▼ 2.1pp3.3%within the sector's middle half▼ 0.3pp
Staff (FTE)23.1-26.8▲ 16.0%23.2above the sector's middle half▼ 13.4%25above the sector's middle half▲ 7.8%27.4above the sector's middle half▲ 9.6%25.2above the sector's middle half▼ 8.0%26.4above the sector's middle half▲ 4.8%28above the sector's middle half▲ 6.1%
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 16% higher than in 2024. It is a recovery after the fall in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €808,208
Equity
€333,866 ▲ 8.8%
Debt
€474,342 ▲ 33.9%
Debt's share of the balance-sheet total rises from 53.6% to 58.7%. Equity and debt are higher.
Key figures and ratios
Debt to equity
1.42▲
2024 · 1.15
ROE
8.1%▲
2024 · 7.8%
Debt ≤ 1 year
€472,853▲
2024 · €352,872
Income taxes
€25,554▲
2024 · €22,303
Customer credit
0 days▼
2024 · 22 days
Supplier credit
45 days▲
2024 · 39 days
Staff costs
€1.6m▲
2024 · €1.3m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 28 | 28 | 26 | 27 | 29 |
| full-time | 20 | 25 | 22 | 24 | 24 |
| part-time | 8 | 3 | 4 | 3 | 5 |
| in full-time equivalents | 26.4 | 27.4 | 25.2 | 26.4 | 28 |
| Average over the year, in full-time equivalents | 25 | 27 | 26.8 | 24.2 | 28.2 |
| On a permanent contract | 27 | 28 | 26 | 27 | 29 |
| Joined | 5 | 20 | 20 | 10 | 10 |
| Left | 2 | 19 | 21 | 9 | 8 |
| Training hours | - | 47 | 121 | 468 | 435 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €2.0m | €2.1m | €2.0m | €1.9m | €1.9m | €2.7m | €1.9m | €2.2m | ▲ 13.8% |
| Non-recurring operating income76A | - | - | - | €340 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €0.6m | €0.6m | €1.3m | €0.6m | €0.5m | ▼ 7.9% |
| Remuneration, social security and pensions62 | - | - | - | €1.3m | €1.3m | €1.4m | €1.3m | €1.6m | ▲ 23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €331 | €331 | €191 | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.001m | €0.002m | €0.001m | €0.001m | €0.001m | ▼ 2.6% |
| Non-recurring operating charges66A | - | - | - | - | - | €184 | €71 | €0 | ▼ 100% |
| Gross operating margin9900 | €1.2m | €1.4m | €1.1m | €1.3m | €1.3m | €1.5m | €1.3m | €1.6m | ▲ 23.2% |
| Operating profit (loss)9901 | €0.07m | €0.03m | €0.04m | €0.05m | €0.05m | €0.08m | €0.05m | €0.05m | ▲ 16.3% |
| Financial income75/76B | - | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 5.4% |
| Recurring financial income75 | €0.002m | €0.001m | €94 | - | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 5.4% |
| Financial charges65/66B | - | - | - | €0.002m | €150 | €258 | €0.002m | €0.003m | ▲ 73.7% |
| Recurring financial charges65 | €0.001m | €0.001m | €0.002m | €0.002m | €150 | €258 | €0.002m | €0.003m | ▲ 73.7% |
| Profit (loss) for the period before taxes9903 | €0.07m | €0.03m | €0.04m | €0.05m | €0.05m | €0.08m | €0.05m | €0.05m | ▲ 13.8% |
| Income taxes67/77 | €0.03m | €0.02m | €0.02m | €0.02m | €0.03m | €0.03m | €0.02m | €0.03m | ▲ 14.6% |
| Profit (loss) for the period9904 | €0.04m | €0.01m | €0.02m | €0.02m | €0.02m | €0.05m | €0.02m | €0.03m | ▲ 13.0% |
| Profit (loss) for the period to be appropriated9905 | €0.04m | €0.01m | €0.02m | €0.02m | €0.02m | €0.05m | €0.02m | €0.03m | ▲ 13.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €517,780 | €510,403 | €572,654 | €796,856 | €654,277 | €831,942 | €661,225 | €808,208 | ▲ 22.2% |
| Formation expenses20 | €522 | €191 | - | - | - | - | - | - | - |
| Current assets29/58 | €517,258 | €510,212 | €572,654 | €796,856 | €654,277 | €831,942 | €661,225 | €808,208 | ▲ 22.2% |
| Amounts receivable within one year40/41 | €509,764 | €503,020 | €572,654 | €796,348 | €647,448 | €820,708 | €648,303 | €798,420 | ▲ 23.2% |
| Trade receivables40 | - | - | - | €0 | €49,547 | €12,036 | €111,686 | €2,221 | ▼ 98.0% |
| Other amounts receivable41 | - | - | - | €796,348 | €597,901 | €808,672 | €536,617 | €796,200 | ▲ 48.4% |
| Cash at bank and in hand54/58 | - | - | - | - | €184 | - | - | - | - |
| Deferred charges and accrued income490/1 | - | - | - | €508 | €6,645 | €11,235 | €12,922 | €9,788 | ▼ 24.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €517,780 | €510,403 | €572,654 | €796,856 | €654,277 | €831,942 | €661,225 | €808,208 | ▲ 22.2% |
| Equity10/15 | €159,547 | €169,049 | €187,967 | €211,824 | €235,591 | €283,096 | €306,927 | €333,866 | ▲ 8.8% |
| Contributions10/11 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Capital10 | - | - | - | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Issued capital100 | - | - | - | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Reserves13 | €55,000 | €65,000 | €65,000 | €65,000 | €65,000 | €65,000 | €65,000 | €65,000 | = |
| Non-distributable reserves130/1 | - | - | - | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Legal reserve130 | - | - | - | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Distributable reserves133 | - | - | - | €55,000 | €55,000 | €55,000 | €55,000 | €55,000 | = |
| Profit (loss) carried forward14 | €4,547 | €4,049 | €22,967 | €46,824 | €70,591 | €118,096 | €141,927 | €168,866 | ▲ 19.0% |
| Amounts payable17/49 | €358,233 | €341,355 | €384,686 | €585,033 | €418,686 | €548,846 | €354,298 | €474,342 | ▲ 33.9% |
| Amounts payable within one year42/48 | €358,233 | €341,355 | €384,686 | €583,674 | €417,323 | €547,420 | €352,872 | €472,853 | ▲ 34.0% |
| Trade debts44 | €165,252 | €76,344 | €44,137 | €43,401 | €112,536 | €204,647 | €61,704 | €64,849 | ▲ 5.1% |
| Suppliers440/4 | - | - | - | €43,401 | €112,536 | €204,647 | €61,704 | €64,849 | ▲ 5.1% |
| Taxes, remuneration and social security45 | - | - | - | €540,273 | €304,786 | €342,773 | €291,168 | €408,004 | ▲ 40.1% |
| Taxes450/3 | - | - | - | €316,438 | €128,796 | €128,806 | €92,690 | €147,045 | ▲ 58.6% |
| Remuneration and social security454/9 | - | - | - | €223,835 | €175,991 | €213,967 | €198,479 | €260,959 | ▲ 31.5% |
| Accrued charges and deferred income492/3 | - | - | - | €1,358 | €1,363 | €1,426 | €1,426 | €1,489 | ▲ 4.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €41,341 | €9,502 | €18,919 | €23,856 | €23,767 | €47,506 | €23,831 | €26,939 | ▲ 13.0% |
| + Depreciation and write-downs630 | €331 | €331 | €191 | - | - | - | - | - | - |
| Operating cash flow (approximation) | €41,672 | €9,833 | €19,110 | €23,856 | €23,767 | €47,506 | €23,831 | €26,939 | ▲ 13.0% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 6,049 companies had the same profile as HELLO SQUARE has now. Two years later, 96.0% were still going and 0.4% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
96.0%
was still going
3.6%
stopped otherwise
0.4%
went bankrupt
That fits the bankruptcy probability of HELLO SQUARE itself: 0.5% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,049 companies, not a prediction for HELLO SQUARE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 30-05-2026 | 2026-00132991 | |
| 31-12-2024 | full format | 28-05-2025 | 2025-00119161 | |
| 31-12-2023 | full format | 19-06-2024 | 2024-00145741 | |
| 31-12-2022 | full format | 24-07-2023 | 2023-00275318 | |
| 31-12-2021 | full format | 23-08-2022 | 2022-20311301 | |
| 31-12-2020 | full format | 25-08-2021 | 2021-53800167 | |
| 31-12-2019 | full format | 18-08-2020 | 2020-42200360 | |
| 31-12-2018 | full format | 25-07-2019 | 2019-38200116 | |
| 31-12-2017 | full format | 28-09-2018 | 2018-67000347 | |
| 31-12-2016 | full format | 28-06-2017 | 2017-24300274 |