HF4
ActiveSummary
HF4 has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €491k and a net result of €2k. Its solvency ranks better than 65% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability51▼-24
Solvency75▼-17
Growth32
Track record94
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 1.53 against 0.96 in 2024; short-term debt: 10.9% and cash: 14.1% of total assets), and 50% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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
50%
Return on assets
0.2%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 31-03-2026, 30 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
30 d early
2024
1 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€491k▼ 9.6%
2024 · €543k
2024: €543k
2025: €491k▼ -9.6% vs 2024
2024 → 2025
Total assets
€981k▲ 20.8%
2024 · €812k
2024: €812k
2025: €981k▲ +20.8% vs 2024
2024 → 2025
Net result
€2k▼ 95.4%
2024 · €40k
2024: €40k
2025: €2k▼ -95.4% vs 2024
2024 → 2025
Working capital
€57k
2024 · €-5k
2024: €-5k
2025: €57k▲ +1157% vs 2024
2024 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20242025Trend
Equity€543k-€491k▼ 9.6%
2024: €543k
2025: €491k▼ -9.6% vs 2024
Operating result€76k-€23k▼ 69.9%
2024: €76k
2025: €23k▼ -69.9% vs 2024
Net result€40k-€2k▼ 95.4%
2024: €40k
2025: €2k▼ -95.4% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 70% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €981k
Fixed assets
€817k ▲ 19.5%
Current assets
€164k ▲ 27.6%
Equity and liabilities €981k
Equity
€491k ▼ 9.6%
Provisions
€18k ▲ 15.5%
Debt
€473k ▲ 86.1%
Debt's share of the balance-sheet total rises from 31.3% to 48.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€85k▼
2024 · €139k
Cash flow
€64k▼
2024 · €103k
Current ratio
1.53▲
2024 · 0.96
Debt to equity
0.96▲
2024 · 0.47
ROE
0.4%▼
2024 · 7.4%
ROA
0.2%▼
2024 · 5.0%
Interest coverage
3.87▼
2024 · 8.29
Debt ≤ 1 year
€107k▼
2024 · €134k
Debt > 1 year
€366k▲
2024 · €120k
Income taxes
€594▼
2024 · €21k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 59 lines
Balance sheet
Code20242025
Assets
Total assets20/58€812k€981k▲
Fixed assets21/28€684k€817k▲
Tangible fixed assets22/27€683k€817k▲
Land and buildings22€652k€741k▲
Plant, machinery and equipment23€29k€16k▼
Furniture and vehicles24€3k€60k▲
Financial fixed assets28€414€414=
Current assets29/58€128k€164k▲
Amounts receivable within one year40/41€15k€24k▲
Trade receivables40€15k€24k▲
Cash at bank and in hand54/58€114k€138k▲
Deferred charges and accrued income490/1-€2k
Equity and liabilities
Total equity and liabilities10/49€812k€981k▲
Equity10/15€543k€491k▼
Contributions10/11€116k€116k=
Reserves13€257k€200k▼
Non-distributable reserves130/1€5k€5k=
Reserves not available under the articles1311€5k€5k=
Tax-exempt reserves132€46k€43k▼
Distributable reserves133€205k€151k▼
Profit (loss) carried forward14€170k€175k▲
Provisions and deferred taxes16€15k€18k▲
Provisions for liabilities and charges160/5-€4k
Major repairs and maintenance162-€4k
Deferred taxes168€15k€14k▼
Amounts payable17/49€254k€473k▲
Amounts payable after more than one year17€120k€366k▲
Financial debts170/4€120k€366k▲
Amounts payable within one year42/48€134k€107k▼
Current portion of amounts payable after more than one year42-€12k
Trade debts44€844€6k▲
Suppliers440/4€844€6k▲
Taxes, remuneration and social security45€34k€21k▼
Taxes450/3€32k€21k▼
Remuneration and social security454/9€2k-
Other amounts payable47/48€99k€68k▼
Accrued charges and deferred income492/3€323-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€63k€62k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8-€18k
Other operating charges640/8€4k€18k▲
Gross operating margin9900€143k€121k▼
Operating profit (loss)9901€76k€23k▼
Financial income75/76B-€0
Recurring financial income75-€0
Financial charges65/66B€17k€22k▲
Recurring financial charges65€17k€22k▲
Profit (loss) for the period before taxes9903€60k€942▼
Transfer from deferred taxes780€2k€2k=
Income taxes67/77€21k€594▼
Profit (loss) for the period9904€40k€2k▼
Transfer from tax-exempt reserves789€3k€3k=
Profit (loss) for the period to be appropriated9905€43k€5k▼
Appropriation of the result
Profit (loss) to be appropriated9906€213k€175k▼
Profit (loss) brought forward from the previous period14P€170k€170k=
Transfer from equity791/2€95k€54k▼
Transfer to equity691/2€43k-
To other reserves6921€43k-
Profit to be distributed694/7€95k€54k▼
Return on contributions (dividend)694€95k€54k▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €63k | €62k | ▼ 0.9% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €18k | - |
| Other operating charges640/8 | €4k | €18k | ▲ 394% |
| Gross operating margin9900 | €143k | €121k | ▼ 15.2% |
| Operating profit (loss)9901 | €76k | €23k | ▼ 69.9% |
| Financial income75/76B | - | €0 | - |
| Recurring financial income75 | - | €0 | - |
| Financial charges65/66B | €17k | €22k | ▲ 31.1% |
| Recurring financial charges65 | €17k | €22k | ▲ 31.1% |
| Profit (loss) for the period before taxes9903 | €60k | €942 | ▼ 98.4% |
| Transfer from deferred taxes780 | €2k | €2k | = |
| Income taxes67/77 | €21k | €594 | ▼ 97.1% |
| Profit (loss) for the period9904 | €40k | €2k | ▼ 95.4% |
| Transfer from tax-exempt reserves789 | €3k | €3k | = |
| Profit (loss) for the period to be appropriated9905 | €43k | €5k | ▼ 88.7% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €812k | €981k | ▲ 20.8% |
| Fixed assets21/28 | €684k | €817k | ▲ 19.5% |
| Tangible fixed assets22/27 | €683k | €817k | ▲ 19.5% |
| Land and buildings22 | €652k | €741k | ▲ 13.7% |
| Plant, machinery and equipment23 | €29k | €16k | ▼ 45.1% |
| Furniture and vehicles24 | €3k | €60k | ▲ 1,955% |
| Financial fixed assets28 | €414 | €414 | = |
| Current assets29/58 | €128k | €164k | ▲ 27.6% |
| Amounts receivable within one year40/41 | €15k | €24k | ▲ 61.7% |
| Trade receivables40 | €15k | €24k | ▲ 61.7% |
| Cash at bank and in hand54/58 | €114k | €138k | ▲ 21.4% |
| Deferred charges and accrued income490/1 | - | €2k | - |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €812k | €981k | ▲ 20.8% |
| Equity10/15 | €543k | €491k | ▼ 9.6% |
| Contributions10/11 | €116k | €116k | = |
| Reserves13 | €257k | €200k | ▼ 22.2% |
| Non-distributable reserves130/1 | €5k | €5k | = |
| Reserves not available under the articles1311 | €5k | €5k | = |
| Tax-exempt reserves132 | €46k | €43k | ▼ 6.6% |
| Distributable reserves133 | €205k | €151k | ▼ 26.3% |
| Profit (loss) carried forward14 | €170k | €175k | ▲ 2.9% |
| Provisions and deferred taxes16 | €15k | €18k | ▲ 15.5% |
| Provisions for liabilities and charges160/5 | - | €4k | - |
| Major repairs and maintenance162 | - | €4k | - |
| Deferred taxes168 | €15k | €14k | ▼ 9.8% |
| Amounts payable17/49 | €254k | €473k | ▲ 86.1% |
| Amounts payable after more than one year17 | €120k | €366k | ▲ 205% |
| Financial debts170/4 | €120k | €366k | ▲ 205% |
| Amounts payable within one year42/48 | €134k | €107k | ▼ 19.9% |
| Current portion of amounts payable after more than one year42 | - | €12k | - |
| Trade debts44 | €844 | €6k | ▲ 605% |
| Suppliers440/4 | €844 | €6k | ▲ 605% |
| Taxes, remuneration and social security45 | €34k | €21k | ▼ 39.0% |
| Taxes450/3 | €32k | €21k | ▼ 35.4% |
| Remuneration and social security454/9 | €2k | - | - |
| Other amounts payable47/48 | €99k | €68k | ▼ 31.1% |
| Accrued charges and deferred income492/3 | €323 | - | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €40k | €2k | ▼ 95.4% |
| + Depreciation and write-downs630 | €63k | €62k | ▼ 0.9% |
| Operating cash flow (approximation) | €103k | €64k | ▼ 37.7% |
| Investment in fixed assets (approximation) | - | €-196k | - |
| Change in cash | - | €24k | - |
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
14-09
State Gazette act
General meeting · Other statementDirector in office · Shareholding · Power of attorney62 facts ▸
State Gazette act
General meeting · Other statement
Director in office · Shareholding · Power of attorney62 facts ▸
- General meeting, 01-07-2026
- Other statement, statutes status, non modifiés à ce jour
- Director in office, DUBOIS Baudouin (director)
- Shareholding, 01-07-2026, 150
- Power of attorney, FRINGS Chantal Huberte
- Shareholding, 01-07-2026, 150
- Power of attorney, DUBOIS Maxime Hubert
- Shareholding, 01-07-2026, 150
- Power of attorney, DUBOIS Nicolas Hubert
- Shareholding, 01-07-2026, 150
- Power of attorney, DUBOIS Julien Hubert
- Shareholding, 01-07-2026, 150
- +50 further facts in this act
31-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
29-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
State Gazette actNBB filing
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Ukkel · 1 establishment unit since 2023
Ground area
133 m²
Building footprint
81 m²
Volume, LiDAR
953 m³
Parcel 21612C0001/00R049, Brussels · tallest building 14.4 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
HF4
since 20232.348.753.743
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21612C0001/00R049 | Brussels | 132 m² | 1 · 81 m² | 14.4 m · 4 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.
Articles of association
Other provisions of the articles (1)
- Other statement
Structure & network
Acquisitions and mergers
1 transactionReceived in a demerger part of:CIM
Capital and shareholders
Shareholders according to the acts
Stated in the act
act of 14-09-2026 ↗
- FRINGS Chantal Huberte 150 shares
- DUBOIS Maxime Hubert 150 shares
- DUBOIS Nicolas Hubert 150 shares
- DUBOIS Julien Hubert 150 shares
- DUBOIS Olivia Hubert 150 shares
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
Similar companies · same sector, comparable size
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Of 9,693 companies in sector 68121 we hold annual accounts for 7,385. 4,723 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
Founded08-08-2023
Fiscal year end30-09
Activities, NACEBEL 2025
68121Development of residential building projects
Scores and ratios are computed by Checked and are not a credit decision.