HF CONSTRUCT
ActiveSummary
HF CONSTRUCT has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €271,213 and a net result of €43,623. Equity is growing by ~22.9% per year across the filed fiscal years. Its solvency ranks better than 84% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability85▼-3
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €23,000 at 30 days acceptable
Liquidity ample (current ratio 4.71 against 6.87 in 2024; short-term debt: 21% and cash: 33.2% of total assets), and 21.2% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
78.8%
Return on assets
12.7%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-07-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
31 d early
2023
30 d early
2022
32 d early
2021
32 d early
2020
31 d early
2019
31 d early
← 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 30 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
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Financials · fiscal year 2025, micro schema
Equity
€271,213▼ 0.3%
2024 · €271,902
Total assets
€344,011▲ 8.6%
2024 · €316,769
Net result
€43,623▼ 8.6%
2024 · €47,713
Working capital
€267,621▲ 1.6%
2024 · €263,503
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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
Operating result€53,056▲ 34.3%€50,881▼ 4.1%€79,673▲ 56.6%€68,047▼ 14.6%€61,241▼ 10.0%
Net result€36,141above the sector's middle half▲ 33.8%€34,893above the sector's middle half▼ 3.5%€55,694above the sector's middle half▲ 59.6%€47,713above the sector's middle half▼ 14.3%€43,623above the sector's middle half▼ 8.6%
Equity€133,602above the sector's middle half▲ 37.1%€168,495above the sector's middle half▲ 26.1%€224,189above the sector's middle half▲ 33.1%€271,902above the sector's middle half▲ 21.3%€271,213above the sector's middle half▼ 0.3%
Total assets€166,742within the sector's middle half▲ 39.3%€199,520within the sector's middle half▲ 19.7%€262,608within the sector's middle half▲ 31.6%€316,769above the sector's middle half▲ 20.6%€344,011above the sector's middle half▲ 8.6%
Debt€33,140▲ 48.9%€31,025▼ 6.4%€38,419▲ 23.8%€44,867▲ 16.8%€72,798▲ 62.3%
Working capital€126,219▲ 35.5%€163,562▲ 29.6%€211,009▲ 29.0%€263,503▲ 24.9%€267,621▲ 1.6%
Solvency80.1%above the sector's middle half▼ 1.3pp84.5%above the sector's middle half▲ 4.3pp85.4%above the sector's middle half▲ 0.9pp85.8%above the sector's middle half▲ 0.5pp78.8%above the sector's middle half▼ 7.0pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 10% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €344,011
Fixed assets
€4,240 ▼ 49.5%
Current assets
€339,771 ▲ 10.2%
Equity and liabilities €344,011
Equity
€271,213 ▼ 0.3%
Debt
€72,798 ▲ 62.3%
Debt's share of the balance-sheet total rises from 14.2% to 21.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€66,314▼
2024 · €73,095
Cash flow
€48,697▼
2024 · €52,761
Current ratio
4.71▼
2024 · 6.87
Debt to equity
0.27▲
2024 · 0.17
ROE
16.1%▼
2024 · 17.5%
ROA
12.7%▼
2024 · 15.1%
Interest coverage
103.41▲
2024 · 39.90
Debt ≤ 1 year
€72,151▲
2024 · €44,867
Income taxes
€18,782▼
2024 · €20,157
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 31,349 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,934 | €2,450 | €5,217 | €5,048 | €5,074 | ▲ 0.5% |
| Other operating charges640/8 | €2,293 | €1,729 | €1,230 | €1,317 | €1,488 | ▲ 13.0% |
| Non-recurring operating charges66A | €306 | - | - | - | - | - |
| Gross operating margin9900 | €57,589 | €55,060 | €86,120 | €74,412 | €67,803 | ▼ 8.9% |
| Operating profit (loss)9901 | €53,056 | €50,881 | €79,673 | €68,047 | €61,241 | ▼ 10.0% |
| Financial income75/76B | - | - | €1 | €1,655 | €1,806 | ▲ 9.1% |
| Recurring financial income75 | - | - | €1 | €1,655 | €1,806 | ▲ 9.1% |
| Financial charges65/66B | €619 | €480 | €539 | €1,832 | €641 | ▼ 65.0% |
| Recurring financial charges65 | €619 | €480 | €539 | €1,832 | €641 | ▼ 65.0% |
| Profit (loss) for the period before taxes9903 | €52,437 | €50,401 | €79,135 | €67,870 | €62,405 | ▼ 8.1% |
| Income taxes67/77 | €16,296 | €15,508 | €23,441 | €20,157 | €18,782 | ▼ 6.8% |
| Profit (loss) for the period9904 | €36,141 | €34,893 | €55,694 | €47,713 | €43,623 | ▼ 8.6% |
| Transfer from tax-exempt reserves789 | €22,550 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €58,691 | €34,893 | €55,694 | €47,713 | €43,623 | ▼ 8.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €166,742 | €199,520 | €262,608 | €316,769 | €344,011 | ▲ 8.6% |
| Fixed assets21/28 | €7,383 | €4,933 | €13,180 | €8,399 | €4,240 | ▼ 49.5% |
| Intangible fixed assets21 | €4,508 | €3,510 | €5,814 | €4,029 | €2,244 | ▼ 44.3% |
| Tangible fixed assets22/27 | €2,875 | €1,423 | €7,366 | €4,370 | €1,996 | ▼ 54.3% |
| Plant, machinery and equipment23 | €1,585 | €836 | €1,358 | €1,141 | €1,546 | ▲ 35.5% |
| Furniture and vehicles24 | €1,290 | €587 | €6,008 | €3,229 | €449 | ▼ 86.1% |
| Current assets29/58 | €159,359 | €194,587 | €249,428 | €308,370 | €339,771 | ▲ 10.2% |
| Amounts receivable within one year40/41 | €61,760 | €81,004 | €92,986 | €95,858 | €99,294 | ▲ 3.6% |
| Trade receivables40 | €1,408 | €18,202 | €23,634 | €24,130 | €28,062 | ▲ 16.3% |
| Other amounts receivable41 | €60,352 | €62,802 | €69,352 | €71,728 | €71,232 | ▼ 0.7% |
| Current investments50/53 | - | - | - | €125,000 | €126,264 | ▲ 1.0% |
| Cash at bank and in hand54/58 | €97,599 | €113,311 | €156,442 | €87,512 | €114,214 | ▲ 30.5% |
| Deferred charges and accrued income490/1 | - | €272 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €166,742 | €199,520 | €262,608 | €316,769 | €344,011 | ▲ 8.6% |
| Equity10/15 | €133,602 | €168,495 | €224,189 | €271,902 | €271,213 | ▼ 0.3% |
| Contributions10/11 | €50,257 | €50,257 | €50,257 | €50,257 | €50,257 | = |
| Reserves13 | €83,345 | €118,238 | €173,932 | €221,645 | €220,956 | ▼ 0.3% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | €81,485 | €116,378 | €173,932 | €221,645 | €220,956 | ▼ 0.3% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | - |
| Amounts payable17/49 | €33,140 | €31,025 | €38,419 | €44,867 | €72,798 | ▲ 62.3% |
| Amounts payable within one year42/48 | €33,140 | €31,025 | €38,419 | €44,867 | €72,151 | ▲ 60.8% |
| Current portion of amounts payable after more than one year42 | €16,238 | €13,169 | €13,224 | €7,198 | €5,925 | ▼ 17.7% |
| Trade debts44 | €5,889 | €5,753 | €5,988 | €11,631 | €5,449 | ▼ 53.2% |
| Suppliers440/4 | €5,889 | €5,753 | €5,988 | €11,631 | €5,449 | ▼ 53.2% |
| Taxes, remuneration and social security45 | €11,013 | €12,103 | €19,207 | €26,038 | €19,346 | ▼ 25.7% |
| Taxes450/3 | €11,013 | €8,653 | €12,307 | €19,138 | €15,896 | ▼ 16.9% |
| Remuneration and social security454/9 | - | €3,450 | €6,900 | €6,900 | €3,450 | ▼ 50.0% |
| Other amounts payable47/48 | - | - | - | - | €41,432 | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €647 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €36,141 | €34,893 | €55,694 | €47,713 | €43,623 | ▼ 8.6% |
| + Depreciation and write-downs630 | €1,934 | €2,450 | €5,217 | €5,048 | €5,074 | ▲ 0.5% |
| Operating cash flow (approximation) | €38,075 | €37,343 | €60,911 | €52,761 | €48,697 | ▼ 7.7% |
| Investment in fixed assets (approximation) | - | €0 | -€13,464 | -€267 | -€915 | ▼ 243% |
| Change in cash | - | €15,712 | €43,131 | -€68,930 | €26,702 | ▲ 139% |
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
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €55,694 ▲59.6%
Operating result €79,673, net result €55,694, both a record.
31-12
Financial
Equity above €200,000Eq €224,189 ▲33.1%
6 profitable years in a row build equity to €224,189.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €150,000Eq €168,495 ▲26.1%
5 profitable years in a row build equity to €168,495.
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €100,000Eq €133,602 ▲37.1%
4 profitable years in a row build equity to €133,602.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
18-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
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, Zwevegem · 1 establishment unit since 2001
Ground area
805 m²
Building footprint
167 m²
Volume, LiDAR
627 m³
Parcel 34030B0091/00W000, Flanders · tallest building 6.9 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Klein Ronsestraat(O) 12, 8553 Zwevegem
since 20012.116.271.863
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34030B0091/00W000 | Flanders | 805 m² | 1 · 166 m² | 6.9 m · 1 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.
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,138. 7,030 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded12-01-2001
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
43211General electrical installation work
81300Landscape service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0473813920
Also
9925:BE0473813920
Registered
26-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.