HEXA
ActiveSummary
HEXA has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €28.4m and a net result of -€500,567. Equity is growing by ~29.5% per year across the filed fiscal years. Its solvency ranks better than 47% of 3241 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability18▲+1
Solvency75▼-4
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,700,000 at 30 days acceptable
Liquidity short (current ratio 0.37 against 0.78 in 2024; short-term debt: 31.7% and cash: 2.5% of total assets), and 50.5% of the assets are financed with debt.
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Signals
Six 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
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← 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 2025Solvency, return and age of the figures
Solvency
49.5%
Return on assets
-0.9%
Age of the figures
9 mo
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
43 d late
2023
28 d late
2022
31 d early
2021
29 d late
2020
27 d late
2019
27 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 22 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
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. Usually files around 29 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#5 company by total assets in Watermaal-Bosvoorde, Professional and technical services sector#5 company by equity in Watermaal-Bosvoorde, Professional and technical services sector
Turnover
€1.3m
EBIT margin
-116.7%
Net result
-€500,567▲ 45.8%
2024 · -€924,399
Working capital
-€11.5m▼ 338%
2024 · -€2.6m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result-€2.5m▼ 69.7%-€1.6m▲ 36.7%-€2.2m▼ 40.2%-€4.6m▼ 108%-€6.1m▼ 31.6%
Net result€2.5mabove the sector's middle half▼ 81.6%-€1.9mbelow the sector's middle half-€2.6mbelow the sector's middle half▼ 40.8%-€924,399below the sector's middle half▲ 65.0%-€500,567below the sector's middle half▲ 45.8%
EBIT margin
Equity€14.4mabove the sector's middle half▲ 20.8%€12.5mabove the sector's middle half▼ 13.0%€9.9mabove the sector's middle half▼ 21.1%€28.6mabove the sector's middle half▲ 190%€28.4mabove the sector's middle half▼ 0.7%
Total assets€34.8mabove the sector's middle half▲ 24.9%€41.8mabove the sector's middle half▲ 20.2%€45.4mabove the sector's middle half▲ 8.5%€53.1mabove the sector's middle half▲ 17.0%€57.3mabove the sector's middle half▲ 7.9%
Debt€20.4m▲ 28.0%€29.3m▲ 43.6%€35.5m▲ 21.1%€24.5m▼ 31.0%€28.9m▲ 18.0%
Working capital-€4.3mbelow the sector's middle half-€15.9mbelow the sector's middle half▼ 267%-€22.7mbelow the sector's middle half▼ 42.9%-€2.6mbelow the sector's middle half▲ 88.4%-€11.5mbelow the sector's middle half▼ 338%
Solvency41.3%within the sector's middle half▼ 1.4pp29.9%within the sector's middle half▼ 11.4pp21.7%within the sector's middle half▼ 8.2pp53.9%within the sector's middle half▲ 32.1pp49.5%within the sector's middle half▼ 4.3pp
Current ratio0.46below the sector's middle half▼ 0.610.13below the sector's middle half▼ 0.340.08below the sector's middle half▼ 0.040.78within the sector's middle half▲ 0.700.37below the sector's middle half▼ 0.41
Return on assets (ROA)7.1%within the sector's middle half▼ 41.2pp-4.5%below the sector's middle half▼ 11.6pp-5.8%below the sector's middle half▼ 1.3pp-1.7%below the sector's middle half▲ 4.1pp-0.9%below the sector's middle half▲ 0.9pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €6.1m in 2025 against €4.6m 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 €57.3m
Fixed assets
€50.7m ▲ 15.7%
Current assets
€6.7m ▼ 28.4%
Equity and liabilities €57.3m
Equity
€28.4m ▼ 0.7%
Debt
€28.9m ▲ 18.0%
Debt's share of the balance-sheet total rises from 46.1% to 50.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€6.0m▼
2024 · -€4.6m
Cash flow
-€462,661▲
2024 · -€887,975
Debt to equity
1.02▲
2024 · 0.86
ROE
-1.8%▲
2024 · -3.2%
Interest coverage
-7.13▼
2024 · -3.48
Debt ≤ 1 year
€18.2m▲
2024 · €12.0m
Debt > 1 year
€8.7m▼
2024 · €10.5m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | -€21 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €32,710 | €9,075 | €18,571 | €36,424 | €37,905 | ▲ 4.1% |
| Other operating charges640/8 | €5,055 | €893 | - | €3,009 | €2,519 | ▼ 16.3% |
| Non-recurring operating charges66A | €26,312 | - | - | - | - | - |
| Gross operating margin9900 | -€2.4m | -€1.6m | -€2.2m | -€4.6m | -€6.0m | ▼ 31.8% |
| Operating profit (loss)9901 | -€2.5m | -€1.6m | -€2.2m | -€4.6m | -€6.1m | ▼ 31.6% |
| Financial income75/76B | €6.1m | €2.4m | €2.5m | €5.9m | €6.9m | ▲ 17.5% |
| Recurring financial income75 | €6.1m | €2.4m | €2.5m | €5.9m | €6.9m | ▲ 17.5% |
| Financial charges65/66B | €1.1m | €2.7m | €2.9m | €2.2m | €1.3m | ▼ 38.6% |
| Recurring financial charges65 | €631,399 | €541,685 | €2.2m | €1.3m | €846,348 | ▼ 35.7% |
| Non-recurring financial charges66B | €512,389 | €2.2m | €761,581 | €882,366 | €502,121 | ▼ 43.1% |
| Profit (loss) for the period before taxes9903 | €2.5m | -€1.9m | -€2.6m | -€923,615 | -€500,567 | ▲ 45.8% |
| Income taxes67/77 | - | - | - | €784 | - | - |
| Profit (loss) for the period9904 | €2.5m | -€1.9m | -€2.6m | -€924,399 | -€500,567 | ▲ 45.8% |
| Profit (loss) for the period to be appropriated9905 | €2.5m | -€1.9m | -€2.6m | -€924,399 | -€500,567 | ▲ 45.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €34.8m | €41.8m | €45.4m | €53.1m | €57.3m | ▲ 7.9% |
| Fixed assets21/28 | €31.1m | €39.5m | €43.3m | €43.8m | €50.7m | ▲ 15.7% |
| Intangible fixed assets21 | €176 | €62,125 | €56,828 | €129,767 | €93,469 | ▼ 28.0% |
| Tangible fixed assets22/27 | €10,017 | €8,356 | €4,583 | €1,608 | - | - |
| Plant, machinery and equipment23 | €3,225 | €3,975 | €2,187 | €624 | - | - |
| Furniture and vehicles24 | €6,793 | €4,381 | €2,395 | €984 | - | - |
| Financial fixed assets28 | €31.1m | €39.5m | €43.2m | €43.7m | €50.6m | ▲ 15.8% |
| Current assets29/58 | €3.7m | €2.3m | €2.1m | €9.3m | €6.7m | ▼ 28.4% |
| Amounts receivable after more than one year29 | €1.6m | €1.1m | €459,024 | €1.2m | €1.6m | ▲ 30.8% |
| Other amounts receivable291 | €1.6m | €1.1m | €459,024 | €1.2m | €1.6m | ▲ 30.8% |
| Amounts receivable within one year40/41 | €426,343 | €498,492 | €882,129 | €2.5m | €184,206 | ▼ 92.6% |
| Trade receivables40 | €292,328 | €415,892 | €139,236 | €2.0m | - | - |
| Other amounts receivable41 | €134,015 | €82,600 | €742,893 | €524,113 | €184,206 | ▼ 64.9% |
| Current investments50/53 | - | - | - | - | €3.4m | - |
| Cash at bank and in hand54/58 | €1.7m | €697,218 | €741,519 | €5.5m | €1.5m | ▼ 73.7% |
| Deferred charges and accrued income490/1 | - | €102 | €113 | €72,498 | €5,220 | ▼ 92.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €34.8m | €41.8m | €45.4m | €53.1m | €57.3m | ▲ 7.9% |
| Equity10/15 | €14.4m | €12.5m | €9.9m | €28.6m | €28.4m | ▼ 0.7% |
| Contributions10/11 | €6.4m | €6.4m | €6.4m | €26.0m | €27.5m | ▲ 5.8% |
| Capital10 | €6.4m | €6.4m | €6.4m | €6.6m | €7.1m | ▲ 7.8% |
| Issued capital100 | €6.4m | €6.4m | €6.4m | €6.6m | €7.1m | ▲ 7.8% |
| Outside capital11 | - | - | - | €19.4m | €20.4m | ▲ 5.1% |
| Share premium1100/10 | - | - | - | €19.4m | €20.4m | ▲ 5.1% |
| Reserves13 | €8.0m | €6.1m | €3.5m | €2.6m | €875,956 | ▼ 66.1% |
| Non-distributable reserves130/1 | €636,365 | €636,365 | €636,365 | €636,365 | €636,365 | = |
| Legal reserve130 | €636,365 | €636,365 | €636,365 | €636,365 | €636,365 | = |
| Distributable reserves133 | €7.4m | €5.5m | €2.9m | €1.9m | €239,591 | ▼ 87.7% |
| Amounts payable17/49 | €20.4m | €29.3m | €35.5m | €24.5m | €28.9m | ▲ 18.0% |
| Amounts payable after more than one year17 | €10.4m | €10.4m | €10.5m | €10.5m | €8.7m | ▼ 17.1% |
| Financial debts170/4 | €10.4m | €10.4m | €10.5m | €10.5m | €8.7m | ▼ 17.1% |
| Amounts payable within one year42/48 | €8.1m | €18.2m | €24.8m | €12.0m | €18.2m | ▲ 51.9% |
| Financial debts43 | €8.0m | €16.8m | €24.5m | €11.8m | €18.0m | ▲ 53.2% |
| Credit institutions430/8 | €8.0m | €16.8m | €24.5m | €11.8m | €18.0m | ▲ 53.2% |
| Trade debts44 | €64,648 | €1.4m | €170,354 | €204,072 | €150,529 | ▼ 26.2% |
| Suppliers440/4 | €64,648 | €1.4m | €170,354 | €204,072 | €150,529 | ▼ 26.2% |
| Taxes, remuneration and social security45 | - | - | - | - | €10,507 | - |
| Taxes450/3 | - | - | - | - | €1,697 | - |
| Remuneration and social security454/9 | - | - | - | - | €8,809 | - |
| Other amounts payable47/48 | - | - | €105,850 | €3,044 | €344 | ▼ 88.7% |
| Accrued charges and deferred income492/3 | €2.0m | €778,008 | €253,669 | €2.1m | €2.1m | ▲ 0.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2.5m | -€1.9m | -€2.6m | -€924,399 | -€500,567 | ▲ 45.8% |
| + Depreciation and write-downs630 | €32,710 | €9,075 | €18,571 | €36,424 | €37,905 | ▲ 4.1% |
| Operating cash flow (approximation) | €2.5m | -€1.9m | -€2.6m | -€887,975 | -€462,661 | ▲ 47.9% |
| Investment in fixed assets (approximation) | - | -€8.5m | -€3.8m | -€522,636 | -€6.9m | ▼ 1,220% |
| Change in cash | - | -€1.0m | €44,301 | €4.8m | -€4.1m | ▼ 185% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
10-09
State Gazette act
General meeting · Capital contribution
Correction · Board meeting
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
04-08
State Gazette act
Incorporation · Partner
Other statement · Legal form clause
10-06
State Gazette act
General meeting · Other statement
Auditor report · Capital increase
2025
12-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 43 days late
2024
31-12
Financial
Equity above €25mEq €28.6m ▲190%
Equity rises from €9.9m to €28.6m.
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 28 days late
2023
31-12
Financial
Weakest financial yearnet -€2.6m
Net result drops to -€2.6m, the lowest in the series; recovery starts the following year.
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 29 days late
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 27 days late
2020
31-12
Financial
Highest result since 2018net €13.5m ▲10,599%
Operating result -€1.5m, net result €13.5m, both a record.
Show earlier events
31-12
Financial
Equity above €10mEq €11.9m ▲453%
3 profitable years in a row build equity to €11.9m.
27-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 27 days late
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
21-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 21 days late
2017
21-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 21 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 27 acts read
About the unread acts
We know of 27 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
27 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, Watermaal-Bosvoorde · 1 establishment unit since 2011
Ground area
4,415 m²
Building footprint
2,124 m²
Volume, LiDAR
45,158 m³
Parcel 21652E0035/00R005, Brussels · tallest building 36.1 m, ±7 floors. Linked by address, not a title deed.
231
companies at this address
See who is registered here
1 establishment unit
eFOUNDERS
since 20112.196.662.592
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21652E0035/00R005 | Brussels | 4,415 m² | 1 · 2,124 m² | 36.1 m · 7 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
4 owners · 26 holdingsOwners 4
-
34.1%
-
22.5%
-
12.58%
- Sourceaccounts HQL 20253.65%
Holdings 26
-
100%
-
100%
-
100%
-
30%
-
26.2%
- TANDEMUSSourceown accounts 202522.3%
-
21.9%
-
21.7%
- BASALTUSSourceown accounts 202521.3%
-
21.1%
Show 16 more holdings
- DEMASCANFRSourceown accounts 202520%
-
19.7%
-
19.3%
-
18%
- PROBOUSSourceown accounts 202517.4%
-
17%
-
16.5%
-
16.3%
-
14.8%
-
14.5%
-
12.6%
-
12.1%
-
11.5%
-
11.5%
-
10.2%
-
9%
According to the 2025 annual accounts of HEXA and those of the other companies, the acts in the Belgian Gazette and the LEI register. 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 fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 82,641 companies in sector 70200 we hold annual accounts for 52,636. 3,073 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded21-02-2011
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
63920Other information service activities
73300Public relations and communication consultancy
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0833922163
Also
9925:BE0833922163
Registered
06-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.