HF CONSTRUCT
Annual accounts 2025
micro format, filed on 09-07-2026, 22 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €280,000. Estimated: probably between €200,000 and €420,000.
Money flows
no detail for 2025Balance sheet
balance sheet total €344,011 on 31-12-2025in euro
in euro
Position in the sector
78.8%
Higher than 84% of 37,177 companies in 2025.
4.71
Higher than 83% of 36,472 companies in 2025.
12.7%
Higher than 65% of 36,707 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter
Staff
Staff costs divided by the average number of full-time equivalents.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||||
20/58 |
344,011 | 316,769 | 262,608 | 199,520 | 166,742 | 119,722 | 86,178 | 79,016 | 88,949 | 97,382 | 69,039 | 40,243 | 51,835 | 297,771 | 572,747 | 646,878 | 345,746 | 349,575 | 397,998 | 365,983 | |
21/28 |
4,240 | 8,399 | 13,180 | 4,933 | 7,383 | 4,327 | 9,359 | 18,718 | 27,472 | 36,630 | 9,349 | 18,712 | 28,179 | 37,830 | 499,829 | 524,104 | 159,524 | 189,294 | 186,835 | 214,081 | |
21 |
2,244 | 4,029 | 5,814 | 3,510 | 4,508 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
22/27 |
1,996 | 4,370 | 7,366 | 1,423 | 2,875 | 4,327 | 9,359 | 18,718 | 27,472 | 36,630 | 9,349 | 18,712 | 28,179 | 37,830 | 499,829 | 524,104 | 159,381 | 189,150 | 186,692 | 214,053 | |
22 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 323,212 | 331,068 | 77,494 | 79,639 | 81,784 | 89,333 | |
23 |
1,546 | 1,141 | 1,358 | 836 | 1,585 | 2,334 | 202 | 403 | - | - | 58 | 130 | 306 | 667 | 130,163 | 130,456 | 70,665 | 93,559 | 100,714 | 114,767 | |
24 |
449 | 3,229 | 6,008 | 587 | 1,290 | 1,993 | - | - | - | 36,630 | 9,291 | 18,582 | 27,873 | 37,163 | 46,454 | 62,580 | 11,222 | 15,952 | 4,194 | 9,953 | |
28 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 143 | 144 | 143 | 28 | |
29/58 |
339,771 | 308,370 | 249,428 | 194,587 | 159,359 | 115,395 | 76,819 | 60,298 | 61,477 | 60,753 | 59,690 | 21,531 | 23,656 | 259,941 | 72,918 | 122,774 | 186,222 | 160,281 | 211,163 | 151,902 | |
3 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 33,471 | 46,757 | 33,695 | 29,333 | 40,318 | 65,297 | |
30/36 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 33,471 | 37,528 | 33,695 | 29,333 | 40,318 | 65,297 | |
37 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 9,229 | - | - | - | - | |
40/41 |
99,294 | 95,858 | 92,986 | 81,004 | 61,760 | 86,657 | 58,744 | 50,142 | 57,514 | 57,628 | 43,488 | 20,129 | 23,430 | 251,622 | 36,569 | 70,073 | 135,487 | 108,315 | 154,316 | 66,249 | |
40 |
28,062 | 24,130 | 23,634 | 18,202 | 1,408 | 28,234 | 4,245 | 383 | 17,206 | 26,818 | 28,337 | 19,138 | 21,979 | 166,360 | 29,966 | 55,937 | 77,265 | 47,127 | 131,016 | 51,277 | |
41 |
71,232 | 71,728 | 69,352 | 62,802 | 60,352 | 58,423 | 54,499 | 49,759 | 40,308 | 30,810 | 15,151 | 991 | 1,451 | 85,262 | 6,603 | 14,136 | 58,222 | 61,188 | 23,300 | 14,972 | |
50/53 |
126,264 | 125,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
54/58 |
114,214 | 87,512 | 156,442 | 113,311 | 97,599 | 28,738 | 17,985 | 9,910 | 3,372 | 2,558 | 16,202 | 686 | 45 | 7,885 | 1,032 | 2,212 | 11,436 | 13,861 | 7,366 | 12,857 | |
490/1 |
- | - | - | 272 | - | - | 90 | 246 | 591 | 567 | - | 716 | 181 | 434 | 1,846 | 3,732 | 5,604 | 8,772 | 9,163 | 7,499 | |
| Balance sheet: equity and liabilities | |||||||||||||||||||||
10/49 |
344,011 | 316,769 | 262,608 | 199,520 | 166,742 | 119,722 | 86,178 | 79,016 | 88,949 | 97,382 | 69,039 | 40,243 | 51,835 | 297,771 | 572,747 | 646,878 | 345,746 | 349,575 | 397,998 | 365,983 | |
10/15 |
271,213 | 271,902 | 224,189 | 168,495 | 133,602 | 97,461 | 70,439 | 51,526 | 33,718 | 47,844 | 51,494 | 19,239 | 16,412 | 17,129 | 243,343 | 272,513 | 16,359 | 25,685 | 13,802 | 52,942 | |
10/11 |
50,257 | 50,257 | 50,257 | 50,257 | 50,257 | 50,257 | 50,256 | 50,257 | 50,257 | 50,257 | 50,257 | 50,257 | 50,256 | 50,257 | 50,257 | 50,256 | 15,257 | 15,257 | 15,257 | 15,257 | |
100 |
- | - | - | - | - | - | 53,600 | 53,600 | 53,600 | 53,600 | 53,600 | 53,600 | 53,600 | 53,600 | 53,600 | 53,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 3,344 | 3,343 | 3,343 | 3,343 | 3,343 | 3,343 | 3,344 | 3,343 | 3,343 | 3,344 | 3,343 | 3,343 | 3,343 | 3,343 | |
12 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 242,261 | 255,720 | - | - | - | - | |
13 |
220,956 | 221,645 | 173,932 | 118,238 | 83,345 | 73,927 | 73,927 | 73,927 | 73,927 | 73,927 | 73,927 | 73,927 | 73,927 | 73,927 | 71,328 | 57,869 | 44,410 | 44,410 | 44,410 | 44,410 | |
130/1 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | 26,918 | 13,459 | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
1319 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 26,918 | 13,459 | - | - | - | - | |
132 |
- | - | - | - | - | 22,550 | 22,550 | 22,550 | 22,550 | 22,550 | 22,550 | 22,550 | 22,550 | 22,550 | 22,550 | 22,550 | 22,550 | 22,550 | 22,550 | 22,550 | |
133 |
220,956 | 221,645 | 173,932 | 116,378 | 81,485 | 49,517 | 49,517 | 49,517 | 49,517 | 49,517 | 49,517 | 49,517 | 49,517 | 49,517 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | |
14 |
0 | - | - | - | - | -26,723 | -53,744 | -72,658 | -90,466 | -76,340 | -72,690 | -104,945 | -107,771 | -107,054 | -120,503 | -91,332 | -43,308 | -33,982 | -45,865 | -6,725 | |
17/49 |
72,798 | 44,867 | 38,419 | 31,025 | 33,140 | 22,261 | 15,739 | 27,490 | 55,231 | 49,539 | 17,545 | 21,004 | 35,423 | 280,641 | 329,404 | 374,365 | 329,387 | 323,890 | 384,196 | 313,041 | |
17 |
- | - | - | - | - | - | - | 7,834 | 17,085 | 26,175 | - | - | - | 1,679 | 16,061 | 31,903 | 53,202 | 93,508 | 106,989 | 93,198 | |
170/4 |
- | - | - | - | - | - | - | 7,834 | 17,085 | 26,175 | - | - | - | 1,679 | 16,061 | 31,903 | 53,202 | 93,508 | 106,989 | 93,198 | |
42/48 |
72,151 | 44,867 | 38,419 | 31,025 | 33,140 | 22,261 | 15,739 | 19,656 | 38,146 | 23,364 | 17,545 | 21,004 | 35,423 | 278,962 | 313,343 | 342,462 | 276,185 | 230,382 | 277,043 | 219,843 | |
42 |
5,925 | 7,198 | 13,224 | 13,169 | 16,238 | 5,838 | 9,973 | 9,497 | 24,680 | 9,497 | - | - | 1,860 | 140,789 | 20,051 | 35,301 | 49,597 | 60,657 | 56,877 | 57,258 | |
43 |
- | - | - | - | - | - | - | - | - | - | - | - | 4 | - | 34,782 | 40,863 | 63,591 | 43,236 | 42,796 | 29,770 | |
430/8 |
- | - | - | - | - | - | - | - | - | - | - | - | 4 | - | 34,782 | 40,863 | 63,591 | 43,236 | 42,796 | 29,770 | |
44 |
5,449 | 11,631 | 5,988 | 5,753 | 5,889 | 6,143 | 1,759 | 1,904 | 3,099 | 4,304 | 7,875 | 10,921 | 22,689 | 54,315 | 176,852 | 188,556 | 150,838 | 115,378 | 163,798 | 122,341 | |
440/4 |
5,449 | 11,631 | 5,988 | 5,753 | 5,889 | 6,143 | 1,759 | 1,904 | 3,099 | 4,304 | 7,875 | 10,921 | 22,689 | 54,315 | 176,852 | 188,556 | 150,838 | 115,378 | 163,798 | 122,341 | |
45 |
19,346 | 26,038 | 19,207 | 12,103 | 11,013 | 10,280 | 4,007 | 8,255 | 10,367 | 9,563 | 9,670 | 9,759 | 9,406 | 83,858 | 39,087 | 17,199 | 12,159 | 11,111 | 13,572 | 10,474 | |
450/3 |
15,896 | 19,138 | 12,307 | 8,653 | 11,013 | 10,280 | 4,007 | 8,255 | 10,367 | 9,563 | 9,670 | 9,759 | 9,406 | 79,184 | 33,128 | 11,601 | 6,251 | 2,498 | 10,468 | 10,474 | |
454/9 |
3,450 | 6,900 | 6,900 | 3,450 | - | - | - | - | - | - | - | - | - | 4,674 | 5,959 | 5,598 | 5,908 | 8,613 | 3,104 | - | |
47/48 |
41,432 | - | - | - | - | - | - | - | - | - | - | 324 | 1,464 | - | 42,571 | 60,543 | - | - | - | - | |
492/3 |
647 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 164 | - | |
| Income statement | |||||||||||||||||||||
70 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 381,654 | 351,218 | |
76A |
- | - | - | - | - | - | - | 7,000 | - | 950 | - | 1,908 | 6,667 | 134,526 | 16,455 | 32,588 | - | - | 3,596 | 3,589 | |
9900 |
67,803 | 74,412 | 86,120 | 55,060 | 57,589 | 60,761 | 38,682 | 34,149 | -474 | 14,558 | 50,625 | 14,697 | 16,296 | 22,202 | 139,185 | 89,855 | 139,563 | 160,906 | 52,803 | 57,956 | |
60/61 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 268,621 | 267,685 | 293,320 | |
62 |
- | - | - | - | - | - | - | - | - | - | - | - | 5,635 | 76,486 | 83,729 | 65,353 | 77,550 | 62,829 | 21,667 | - | |
630 |
5,074 | 5,048 | 5,217 | 2,450 | 1,934 | 627 | 9,359 | 9,359 | 9,157 | 14,456 | 9,363 | 9,467 | 10,015 | 9,869 | 54,201 | 62,748 | 35,724 | 42,003 | 39,171 | 42,893 | |
640/8 |
1,488 | 1,317 | 1,230 | 1,729 | 2,293 | 2,685 | 2,768 | 3,707 | 2,232 | 3,042 | 908 | 919 | 968 | 8,096 | 815 | 2,709 | 3,661 | 6,068 | 4,955 | 4,678 | |
66A |
- | - | - | - | 306 | 17,941 | - | 53 | 298 | - | 7,000 | 822 | 3,508 | 21,385 | 6,512 | 4,420 | 3,583 | 2,250 | 1,064 | 162 | |
9901 |
61,241 | 68,047 | 79,673 | 50,881 | 53,056 | 39,508 | 26,555 | 21,030 | -12,161 | -2,940 | 40,354 | 4,311 | -322 | -72,249 | 440 | -40,955 | 22,628 | 50,006 | -12,990 | 10,385 | |
75/76B |
1,806 | 1,655 | 1 | - | - | - | 1 | - | 2 | 13 | 2 | - | 2 | 192 | 1,218 | 33 | 141 | 177 | 265 | 506 | |
75 |
1,806 | 1,655 | 1 | - | - | - | 1 | - | 2 | 13 | 2 | - | 2 | 192 | 1,218 | 33 | 141 | 177 | 265 | 506 | |
65/66B |
641 | 1,832 | 539 | 480 | 619 | 152 | 424 | 1,232 | 1,162 | 513 | 907 | 2,364 | 3,337 | 24,801 | 27,313 | 21,811 | 28,512 | 36,050 | 28,947 | 24,487 | |
65 |
641 | 1,832 | 539 | 480 | 619 | 152 | 424 | 1,232 | 1,162 | 513 | 907 | 2,364 | 3,337 | 24,801 | 27,313 | 21,811 | 28,512 | 36,050 | 28,947 | 24,487 | |
9903 |
62,405 | 67,870 | 79,135 | 50,401 | 52,437 | 39,356 | 26,132 | 19,798 | -13,321 | -3,440 | 32,449 | 3,033 | -498 | 16,283 | -15,712 | -34,565 | -9,326 | 11,883 | -39,140 | -10,169 | |
67/77 |
18,782 | 20,157 | 23,441 | 15,508 | 16,296 | 12,335 | 7,218 | 1,990 | 805 | 211 | 194 | 207 | 219 | 236 | - | - | - | - | - | 684 | |
9904 |
43,623 | 47,713 | 55,694 | 34,893 | 36,141 | 27,021 | 18,914 | 17,808 | -14,126 | -3,650 | 32,255 | 2,826 | -717 | 16,047 | -15,712 | -34,565 | -9,326 | 11,883 | -39,140 | -10,853 | |
789 |
- | - | - | - | 22,550 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
9905 |
43,623 | 47,713 | 55,694 | 34,893 | 58,691 | 27,021 | 18,914 | 17,808 | -14,126 | -3,650 | 32,255 | 2,826 | -717 | 16,047 | -15,712 | -34,565 | -9,326 | 11,883 | -39,140 | -10,853 | |
| Appropriation of the result | |||||||||||||||||||||
9906 |
43,623 | 47,713 | 55,694 | 34,893 | 31,968 | -26,723 | -53,744 | -72,658 | -90,466 | -76,340 | -72,690 | -104,945 | -107,771 | -104,456 | -107,044 | -77,873 | -43,308 | -33,982 | -45,865 | -6,725 | |
14P |
- | - | - | - | -26,723 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
44,312 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
43,623 | 47,713 | 55,694 | 34,893 | 31,968 | - | - | - | - | - | - | - | - | 2,599 | 13,459 | 13,459 | - | - | - | - | |
6921 |
43,623 | 47,713 | 55,694 | 34,893 | 31,968 | - | - | - | - | - | - | - | - | 2,599 | 13,459 | 13,459 | - | - | - | - | |
694/7 |
44,312 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
694 |
44,312 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Social balance sheet | |||||||||||||||||||||
9087 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 2.6 | 2.7 | 1.9 | 2.5 | 2.1 | 0.7 | - | |
Hours worked1013 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 3,614 | 4,198 | 3,302 | 4,200 | 3,568 | 1,266 | - | |
| Document | |||||||||||||||||||||
The accounts for 5 older financial years (2001-2005) were filed as documents without figures as data, scans for example.
The notes to these accounts have 14 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 09-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 09-07-2026 | 2026-00274763 | |
| 31-12-2024 | micro format | 30-06-2025 | 2025-00202107 | |
| 31-12-2023 | micro format | 01-07-2024 | 2024-00190813 | |
| 31-12-2022 | micro format | 29-06-2023 | 2023-00185128 | |
| 31-12-2021 | micro format | 29-06-2022 | 2022-20144805 | |
| 31-12-2020 | micro format | 30-06-2021 | 2021-28000208 | |
| 31-12-2019 | micro format | 30-06-2020 | 2020-23300582 | |
| 31-12-2018 | micro format | 18-07-2019 | 2019-35300493 | |
| 31-12-2017 | micro format | 02-07-2018 | 2018-27700454 | |
| 31-12-2016 | micro format | 28-08-2017 | 2017-49700217 | |
| 31-12-2015 | abbreviated format | 26-07-2016 | 2016-35800389 | |
| 31-12-2014 | abbreviated format | 26-08-2015 | 2015-49100418 | |
| 31-12-2013 | abbreviated format | 25-08-2014 | 2014-47300498 | |
| 31-12-2012 | abbreviated format | 26-08-2013 | 2013-46700422 | |
| 31-12-2011 | abbreviated format | 30-07-2012 | 2012-36000277 | |
| 31-12-2010 | abbreviated format | 09-09-2011 | 2011-54000589 | |
| 31-12-2009 | abbreviated format | 23-08-2010 | 2010-43600566 | |
| 31-12-2008 | abbreviated format | 06-08-2009 | 2009-54900013 | |
| 31-12-2007 | abbreviated format | 19-08-2008 | 2008-58100374 | |
| 31-12-2006 | abbreviated format | 13-09-2007 | 2007-72200064 | |
| 31-12-2005 | abbreviated format | 27-06-2006 | 2006-33402647 | |
| 31-12-2004 | abbreviated format | 29-07-2005 | 2005-61104275 | |
| 31-12-2003 | abbreviated format | 27-09-2004 | 2004-67003473 | |
| 31-12-2002 | abbreviated format | 02-01-2004 | 2004-00200832 | |
| 31-12-2001 | abbreviated format | 11-09-2002 | 2002-55100780 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 66,314 | 73,095 | 84,890 | 53,331 | 54,990 | 40,135 | 35,914 | 30,389 | -3,004 | 11,517 | 49,717 | 13,778 | 9,693 | -62,380 | 54,641 | 21,793 | 58,352 | 92,009 | 26,181 | 53,278 | ||
| 48,697 | 52,761 | 60,911 | 37,343 | 38,075 | 27,648 | 28,273 | 27,167 | -4,969 | 10,806 | 41,618 | 12,293 | 9,298 | 25,916 | 38,489 | 28,183 | 26,398 | 53,886 | 31 | 32,040 | ||
| 914 | 267 | 13,464 | 0 | 4,990 | 4,752 | 0 | 605 | -1 | 45,787 | 0 | 0 | 772 | 4,207 | 39,521 | 180,157 | 9,955 | 46,324 | 20,925 | 43,637 | ||
| 26,702 | -68,930 | 43,131 | 15,712 | 68,861 | 10,753 | 8,075 | 6,538 | 814 | -13,644 | 15,516 | 641 | -7,840 | 6,853 | -1,180 | -9,224 | -2,425 | 6,495 | -5,491 | - | ||
| 267,621 | 263,503 | 211,009 | 163,562 | 126,219 | 93,134 | 61,080 | 40,642 | 23,331 | 37,389 | 42,145 | 527 | -11,767 | -19,022 | -240,425 | -219,688 | -89,963 | -70,101 | -65,880 | -67,941 | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -3.4% | 3.0% | ||
| 78.8% | 85.8% | 85.4% | 84.5% | 80.1% | 81.4% | 81.7% | 65.2% | 37.9% | 49.1% | 74.6% | 47.8% | 31.7% | 5.8% | 42.5% | 42.1% | 4.7% | 7.3% | 3.5% | 14.5% | ||
| 4.71 | 6.87 | 6.49 | 6.27 | 4.81 | 5.18 | 4.88 | 3.07 | 1.61 | 2.60 | 3.40 | 1.03 | 0.67 | 0.93 | 0.23 | 0.36 | 0.67 | 0.70 | 0.76 | 0.69 | ||
| 4.71 | 6.87 | 6.49 | 6.27 | 4.81 | 5.18 | 4.88 | 3.07 | 1.61 | 2.60 | 3.40 | 1.03 | 0.67 | 0.93 | 0.13 | 0.22 | 0.55 | 0.57 | 0.62 | 0.39 | ||
| 0.27 | 0.17 | 0.17 | 0.18 | 0.25 | 0.23 | 0.22 | 0.53 | 1.64 | 1.04 | 0.34 | 1.09 | 2.16 | 16.38 | 1.35 | 1.37 | 20.13 | 12.61 | 27.84 | 5.91 | ||
| 16.1% | 17.5% | 24.8% | 20.7% | 27.1% | 27.7% | 26.9% | 34.6% | -41.9% | -7.6% | 62.6% | 14.7% | -4.4% | 93.7% | -6.5% | -12.7% | -57.0% | 46.3% | -283.6% | -20.5% | ||
| 12.7% | 15.1% | 21.2% | 17.5% | 21.7% | 22.6% | 21.9% | 22.5% | -15.9% | -3.7% | 46.7% | 7.0% | -1.4% | 5.4% | -2.7% | -5.3% | -2.7% | 3.4% | -9.8% | -3.0% | ||
| over 100 | 39.90 | over 100 | over 100 | 88.84 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 125 days | 53 days | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 157 days | 223 days | 152 days |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €914 | €267 | €9,528 | - | - |
| Intangible fixed assets | - | - | €3,936 | - | €4,990 |
| Financial fixed assets | €0 | - | - | - | - |
| €5,074 | €5,048 | €5,217 | €2,450 | €1,934 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on HF CONSTRUCT
The operating result for 2025 is 10% lower than in 2024 and the lowest since 2022. It is the second fall in a row.
Debt's share of the balance-sheet total rises from 14.2% to 21.2%. Equity is lower and debt is higher.