HG&A
ActiveSummary
HG&A has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€161,383) and a net result of -€8,070. Equity is shrinking by ~4.3% per year across the filed fiscal years. Its solvency ranks better than 5% of 41 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-2
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.17 against 0.22 in 2024; short-term debt: 593.2% and cash: 1.6% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-493.2%
Return on assets
-24.7%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 39
Relative position
BE, all sectors
reference
Remediation activities and other waste management service activities (NACE 39)
about 46% 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
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€161,383
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
217 d late
2023
112 d late
2022
86 d late
2021
3 d early
2020
1 d early
2019
4 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 63 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 36% 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 25 October (4 of the last 5 filed years within 89 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, micro schema
Equity
-€161,383▼ 5.3%
2024 · -€153,313
Total assets
€32,724▼ 25.6%
2024 · €43,977
Net result
-€8,070▼ 30.5%
2024 · -€6,186
Working capital
-€161,518▼ 4.6%
2024 · -€154,478
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 39, Remediation activities and other waste management service 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-€103,851€64,758-€15,844-€6,186▲ 61.0%-€8,070▼ 30.5%
Net result-€102,229€64,674within the sector's middle half-€15,844below the sector's middle half-€6,186below the sector's middle half▲ 61.0%-€8,070below the sector's middle half▼ 30.5%
Equity-€195,957▼ 109%-€131,282below the sector's middle half▲ 33.0%-€147,127below the sector's middle half▼ 12.1%-€153,313below the sector's middle half▼ 4.2%-€161,383below the sector's middle half▼ 5.3%
Total assets€284,595▼ 37.3%€66,575below the sector's middle half▼ 76.6%€46,981below the sector's middle half▼ 29.4%€43,977within the sector's middle half▼ 6.4%€32,724below the sector's middle half▼ 25.6%
Debt€480,551▼ 12.2%€197,857▼ 58.8%€194,108▼ 1.9%€197,290▲ 1.6%€194,107▼ 1.6%
Working capital-€213,626▼ 90.8%-€133,712below the sector's middle half▲ 37.4%-€148,292below the sector's middle half▼ 10.9%-€154,478below the sector's middle half▼ 4.2%-€161,518below the sector's middle half▼ 4.6%
Solvency-68.9%▼ 48.2pp-197.2%below the sector's middle half▼ 128.3pp-313.2%below the sector's middle half▼ 116.0pp-348.6%below the sector's middle half▼ 35.5pp-493.2%below the sector's middle half▼ 144.5pp
Current ratio0.47▼ 0.250.32below the sector's middle half▼ 0.150.24below the sector's middle half▼ 0.090.22below the sector's middle half▼ 0.020.17below the sector's middle half▼ 0.05
Return on assets (ROA)-35.9%▼ 42.6pp97.1%above the sector's middle half▲ 133.1pp-33.7%below the sector's middle half▼ 130.9pp-14.1%below the sector's middle half▲ 19.7pp-24.7%below the sector's middle half▼ 10.6pp
Staff (FTE)1.2▼ 69.2%
above
within
below
the middle half (P25 to P75) of NACE 39, Remediation activities and other waste management service activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €8,070 in 2025 against €6,186 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €32,724
Fixed assets
€135 ▼ 88.4%
Current assets
€32,589 ▼ 23.9%
Key figures and ratios
EBITDA
-€7,040▼
2024 · -€6,186
Cash flow
-€7,040▼
2024 · -€6,186
Debt to equity
-1.20▲
2024 · -1.29
Debt ≤ 1 year
€194,107▼
2024 · €197,290
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,906 companies that looked in July 2024 the way this one looks now, 5.8% went bankrupt within 24 months and 85% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
5.8%
went bankrupt
8.1%
stopped otherwise
85%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.4% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 6,906 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €56,000 | - | - | - | - | - |
| Remuneration, social security and pensions62 | €156,463 | -€2,612 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €61,458 | €4,405 | €1,265 | €0 | €1,030 | - |
| Other operating charges640/8 | €524 | €1,694 | €159 | €118 | €220 | ▲ 86.4% |
| Gross operating margin9900 | €114,594 | €68,246 | -€14,420 | -€6,068 | -€6,820 | ▼ 12.4% |
| Operating profit (loss)9901 | -€103,851 | €64,758 | -€15,844 | -€6,186 | -€8,070 | ▼ 30.5% |
| Financial income75/76B | €3,838 | €139 | €0 | - | - | - |
| Recurring financial income75 | €3,838 | €139 | €0 | - | - | - |
| Financial charges65/66B | €2,216 | €222 | €0 | - | - | - |
| Recurring financial charges65 | €2,216 | €222 | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | -€102,229 | €64,674 | -€15,844 | -€6,186 | -€8,070 | ▼ 30.5% |
| Profit (loss) for the period9904 | -€102,229 | €64,674 | -€15,844 | -€6,186 | -€8,070 | ▼ 30.5% |
| Profit (loss) for the period to be appropriated9905 | -€102,229 | €64,674 | -€15,844 | -€6,186 | -€8,070 | ▼ 30.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €284,595 | €66,575 | €46,981 | €43,977 | €32,724 | ▼ 25.6% |
| Fixed assets21/28 | €92,390 | €2,430 | €1,165 | €1,165 | €135 | ▼ 88.4% |
| Tangible fixed assets22/27 | €92,120 | €2,295 | €1,030 | €1,030 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | €6,700 | €2,295 | €1,030 | €1,030 | €0 | ▼ 100% |
| Leasing and similar rights25 | €85,420 | €0 | - | - | - | - |
| Financial fixed assets28 | €270 | €135 | €135 | €135 | €135 | = |
| Current assets29/58 | €192,204 | €64,145 | €45,816 | €42,812 | €32,589 | ▼ 23.9% |
| Amounts receivable within one year40/41 | €188,056 | €58,918 | €45,350 | €42,478 | €32,077 | ▼ 24.5% |
| Trade receivables40 | €182,018 | €58,918 | €44,291 | €41,548 | €31,537 | ▼ 24.1% |
| Other amounts receivable41 | €6,038 | €0 | €1,060 | €930 | €540 | ▼ 41.9% |
| Cash at bank and in hand54/58 | €109 | €5,227 | €466 | €334 | €512 | ▲ 53.3% |
| Deferred charges and accrued income490/1 | €4,039 | €0 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €284,595 | €66,575 | €46,981 | €43,977 | €32,724 | ▼ 25.6% |
| Equity10/15 | -€195,957 | -€131,282 | -€147,127 | -€153,313 | -€161,383 | ▼ 5.3% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,789 | €1,789 | €1,789 | €1,789 | €1,789 | = |
| Non-distributable reserves130/1 | €1,789 | - | - | - | €1,789 | - |
| Reserves not available under the articles1311 | €1,789 | - | - | - | €1,789 | - |
| Distributable reserves133 | - | €1,789 | €1,789 | €1,789 | - | - |
| Profit (loss) carried forward14 | -€216,346 | -€151,672 | -€167,516 | -€173,702 | -€181,773 | ▼ 4.6% |
| Amounts payable17/49 | €480,551 | €197,857 | €194,108 | €197,290 | €194,107 | ▼ 1.6% |
| Amounts payable after more than one year17 | €74,721 | €0 | - | - | - | - |
| Financial debts170/4 | €74,721 | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €405,830 | €197,857 | €194,108 | €197,290 | €194,107 | ▼ 1.6% |
| Current portion of amounts payable after more than one year42 | €55,899 | €0 | - | - | - | - |
| Trade debts44 | €5,188 | €0 | - | - | €777 | - |
| Suppliers440/4 | €5,188 | €0 | - | - | €777 | - |
| Taxes, remuneration and social security45 | €17,135 | €249 | €0 | - | - | - |
| Taxes450/3 | €13,549 | €249 | €0 | - | - | - |
| Remuneration and social security454/9 | €3,586 | €0 | - | - | - | - |
| Other amounts payable47/48 | €327,608 | €197,608 | €194,108 | €197,290 | €193,329 | ▼ 2.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€102,229 | €64,674 | -€15,844 | -€6,186 | -€8,070 | ▼ 30.5% |
| + Depreciation and write-downs630 | €61,458 | €4,405 | €1,265 | €0 | €1,030 | - |
| Operating cash flow (approximation) | -€40,771 | €69,079 | -€14,579 | -€6,186 | -€7,040 | ▼ 13.8% |
| Investment in fixed assets (approximation) | - | €85,555 | €0 | €0 | €0 | - |
| Change in cash | - | €5,118 | -€4,761 | -€132 | €178 | ▲ 235% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
05-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 217 days late
2024
20-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 112 days late
2023
25-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 86 days late
2022
31-12
Financial
Back to profitnet €64,674
Net result €64,674 after one loss-making year.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet -€102,229
Net result drops to -€102,229, the lowest in the series; recovery starts the following year.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
27-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €7,256
Net result €7,256 after one loss-making year.
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
12-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Arendonk · 1 establishment unit since 2012
Ground area
1.1 ha
Building footprint
412 m²
Volume, LiDAR
2,171 m³
Parcel 13001B1019/00E000, Flanders · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
HG&A
since 20122.215.050.626
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13001B1019/00E000 | Flanders | 1.1 ha | 1 · 412 m² | 8.8 m · 2 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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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 253 companies in sector 39000 we hold annual accounts for 133. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded17-12-2012
Fiscal year end31-12
Activities, NACEBEL 2025
39000Remediation activities and other waste management service activities
37000Sewerage
64210Activities of holding companies
68203Renting and operating of own or leased non-residential real estate, excluding land
70200Business and other management consultancy
77320Rental and leasing activities
81220Other building cleaning and industrial cleaning
81230Other cleaning activities
Contact
Phone
014 44 23 50Arendonk
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.