HF HOLDING
ActiveHF HOLDING is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €29.73M and a net result of €9.67M. Equity is growing by ~11.3% per year across the filed fiscal years. Its solvency ranks better than 66% of 2380 sector peers (fiscal year 2025). The company has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals.
Signals
Three signals. The signal on the left, the evidence on the right.
○neutral
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 02-06-2026, 59 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
59 d early
2024
49 d early
2023
42 d early
2022
56 d early
2021
33 d early
2020
40 d early
← before the deadline
after the deadline →
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
12-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema, statutory
Equity
€29.73M▼ 7.4%
2024 · €32.11M
2018: €27.29M
2019: €15.72M
2020: €17.92M
2021: €18.95M
2022: €22.25M
2023: €26.46M
2024: €32.11M
2018 → 2025
Net result
€9.67M▲ 78.7%
2024 · €5.41M
2018: €705k
2019: €99k
2020: €2.21M
2021: €1.02M
2022: €3.30M
2023: €4.21M
2024: €5.41M
2018 → 2025
Total assets
€38.05M▼ 5.1%
2024 · €40.08M
2018: €35.21M
2019: €34.49M
2020: €36.63M
2021: €36.23M
2022: €36.67M
2023: €38.24M
2024: €40.08M
2018 → 2025
Solvency
78.1%▼ 2.0pp
2024 · 80.1%
2018: 77.5%
2019: 45.6%
2020: 48.9%
2021: 52.3%
2022: 60.7%
2023: 69.2%
2024: 80.1%
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€4.13M-€5.36M▲ 29.7%€6.31M▲ 17.8%€6.47M▲ 2.5%€6.60M▲ 2.0%
Equity€18.95M-€22.25M▲ 17.4%€26.46M▲ 18.9%€32.11M▲ 21.4%€29.73M▼ 7.4%
Operating result€780k-€308k▼ 60.5%€1.66M▲ 439%€622k▼ 62.5%€1.58M▲ 153%
Net result€1.02M-€3.30M▲ 222%€4.21M▲ 27.6%€5.41M▲ 28.6%€9.67M▲ 78.7%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 153% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €38.05M
Fixed assets
€34.30M▼ 1.7%
Current assets
€3.75M▼ 27.8%
Equity and liabilities €38.05M
Equity
€29.73M▼ 7.4%
Provisions
€77k▼ 18.9%
Debt
€8.24M▲ 4.7%
The debt ratio rises from 19.6% to 21.7%: debt grows while equity shrinks.
Key figures and ratios
Solvency
78.1%▼
2024 · 80.1%
ROE
32.5%▲
2024 · 16.9%
ROA
25.4%▲
2024 · 13.5%
Debt
€8.24M▲
2024 · €7.87M
Debt ≤ 1 year
€5.20M▲
2024 · €3.44M
Debt > 1 year
€3.02M▼
2024 · €4.40M
Income taxes
€196k▼
2024 · €488k
Staff costs
€2.53M▲
2024 · €2.46M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€40.08M€38.05M▼
Fixed assets21/28€34.88M€34.30M▼
Intangible fixed assets21€3.47M€3.62M▲
Tangible fixed assets22/27€172k€155k▼
Plant, machinery and equipment23€118k€87k▼
Furniture and vehicles24€54k€68k▲
Financial fixed assets28€31.23M€30.53M▼
Affiliated companies280/1€31.23M€30.53M▼
Participating interests280€23.88M€25.96M▲
Amounts receivable281€7.35M€4.57M▼
Current assets29/58€5.20M€3.75M▼
Amounts receivable within one year40/41€4.45M€2.75M▼
Trade receivables40€2.65M€2.69M▲
Other amounts receivable41€1.80M€61k▼
Cash at bank and in hand54/58€479k€786k▲
Deferred charges and accrued income490/1€268k€213k▼
Equity and liabilities
Total equity and liabilities10/49€40.08M€38.05M▼
Equity10/15€32.11M€29.73M▼
Contributions10/11€1.74M€1.74M=
Capital10€1.74M€1.74M=
Issued capital100€1.74M€1.74M=
Reserves13€186k€186k=
Non-distributable reserves130/1€186k€186k=
Legal reserve130€186k€186k=
Profit (loss) carried forward14€29.94M€27.62M▼
Investment grants15€243k€189k▼
Provisions and deferred taxes16€95k€77k▼
Provisions for liabilities and charges160/5€14k€14k=
Pensions and similar obligations160€14k€14k=
Deferred taxes168€81k€63k▼
Amounts payable17/49€7.87M€8.24M▲
Amounts payable after more than one year17€4.40M€3.02M▼
Financial debts170/4€4.40M€3.02M▼
Credit institutions173€4.40M€3.02M▼
Amounts payable within one year42/48€3.44M€5.20M▲
Current portion of amounts payable after more than one year42€1.38M€1.38M=
Trade debts44€934k€708k▼
Suppliers440/4€934k€708k▼
Taxes, remuneration and social security45€1.13M€1.36M▲
Taxes450/3-€167k
Remuneration and social security454/9€1.13M€1.20M▲
Other amounts payable47/48-€1.75M
Accrued charges and deferred income492/3€22k€15k▼
Income statement
Code20242025
Operating income70/76A€8.83M€9.13M▲
Turnover70€6.47M€6.60M▲
Own construction capitalised72€442k€416k▼
Other operating income74€1.92M€2.11M▲
Operating charges60/66A€8.21M€7.55M▼
Services and other goods61€4.78M€4.29M▼
Remuneration, social security and pensions62€2.46M€2.53M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€956k€715k▼
Other operating charges640/8€11k€11k▲
Operating profit (loss)9901€622k€1.58M▲
Financial income75/76B€5.77M€8.75M▲
Recurring financial income75€5.77M€8.75M▲
Income from financial fixed assets750€5.56M€8.67M▲
Income from current assets751€63k-
Other financial income752/9€149k€81k▼
Financial charges65/66B€500k€471k▼
Recurring financial charges65€500k€471k▼
Debt charges650€401k€212k▼
Other financial charges652/9€99k€259k▲
Profit (loss) for the period before taxes9903€5.89M€9.85M▲
Transfer from deferred taxes780€9k€18k▲
Income taxes67/77€488k€196k▼
Taxes670/3€488k€196k▼
Profit (loss) for the period9904€5.41M€9.67M▲
Profit (loss) for the period to be appropriated9905€5.41M€9.67M▲
Appropriation of the result
Profit (loss) to be appropriated9906€29.94M€39.62M▲
Profit (loss) brought forward from the previous period14P€24.53M€29.94M▲
Profit to be distributed694/7-€12.00M
Return on contributions (dividend)694-€12.00M
Social balance
Average headcount (FTE)908718.718.6▼
The notes to these accounts (65 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
02-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €9.67M ▲78.7%
Net result €9.67M, the highest in the series.
12-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · consolidated
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Equity above €25MEq €26.46M ▲18.9%
6 profitable years in a row build equity to €26.46M.
05-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
05-06
NBB filing
Annual accounts filed
fiscal year 2022 · consolidated
2022
31-12
Financial
Liquidity triplescurrent ratio 1.14
Current ratio from 0.34 to 1.14; short-term debt falls from €7.60M to €4.95M.
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · consolidated
2021
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · consolidated
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2019
31-12
Financial
Weakest financial yearnet €99k ▼86%
Net result drops to €99k, the lowest in the series; recovery starts the following year.
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
25 directors, no change since 2024
9K Capital SRL
CurrentDirector · since 05-03-2024 · Legal entity
Carmela SRL
CurrentDirector · since 05-03-2024 · Legal entity
InvesTuring SRL
CurrentDirector · since 05-03-2024 · Legal entity
Iterar SRL
CurrentDirector · since 05-03-2024 · Legal entity
Julien Sacchet
CurrentFinance manager holding companies · since 05-03-2024
PwC Réviseur d'entreprise srl
CurrentAuditor · since 12-07-2023 · Legal entity
+ 5 not shown in this overview
05-03-2024
9K Capital SRL: Appointed as Director
05-03-2024
9K Capital SRL: Appointed as Managing director
05-03-2024
Carmela SRL: Appointed as Director
05-03-2024
InvesTuring SRL: Appointed as Director
05-03-2024
Iterar SRL: Appointed as Director
05-03-2024
Julien Sacchet: Appointed as Finance manager holding companies
05-03-2024
Xavier Deedene: Appointed as Group cfo
05-03-2024
Arne Louwagie: Resigned as Director
05-03-2024
Maarten Meijssen: Resigned as Director
05-03-2024
MI Management FZE: Resigned as Director
05-03-2024
Richard Reis: Resigned as Director
12-07-2023
PwC Réviseur d'entreprise srl: Appointed as Auditor
09-08-2022
Arne Louwagie: Appointed as Director
09-08-2022
Maarten Meijssen: Appointed as Président du conseil d'administration
09-08-2022
Gilles Mougenot: Resigned as Director
23-09-2021
Maarten Impens: Appointed as Director
23-09-2021
Maarten Meijssen: Appointed as Director
23-09-2021
MI Management FZE: Appointed as Director
23-09-2021
Richard Reis: Appointed as Director
23-09-2021
Gilles Mougenot: Appointed as Director
23-12-2020
PricewaterhouseCoopers, Reviseur d'Entreprise Sccrl: Appointed as Auditor
18-11-2019
Xavier Deedene: Appointed as Director
18-11-2019
Olivier Blanpain: Resigned as Director
04-01-2019
Gaëtan Roy: Appointed as Auditor
+ 18 not shown in this overview
Location & real-estate footprint
Registered office, Nivelles · 2 establishment units since 1998
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue du Commerce 191400 NivellesGround area
2.0 ha
Building footprint
2,312 m²
Volume, LiDAR
7,629 m³
2 parcels, Wallonia · tallest building 17.6 m, ±5 floors. Linked by address, not a title deed.
2 establishment units
HF HOLDING
since 19982.317.543.497
RDH HOLDING
since 19982.089.721.478
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25782C0634/00F002 | Wallonia | 1.5 ha | 1 · 1,815 m² | - |
| 25783E0223/00W003 | Wallonia | 5,046 m² | 1 · 498 m² | 17.6 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Statutory auditor
2 auditors| Isabelle Rasmont Commissaire | 27-08-2015 → 27-08-2015 |
Show 1 earlier auditors
| Jacques Tison Commissaire | - → 27-08-2015 |
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Of 24,641 companies in sector 64210 we hold annual accounts for 19,693. 3,495 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded21-12-1998
Fiscal year end31-12
Activities, NACEBEL
64200Holdings
64210Activities of holding companies
65231
Sources
Crossroads Bank for EnterprisesNational Bank · 44 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.