HGA-SOLUTIONS
ActiveThe computed 12-month bankruptcy probability of HGA-SOLUTIONS is 2.7% (moderate). The 2025 annual accounts show equity of €96k and a net result of €14k. Equity is growing by ~21.9% per year across the filed fiscal years. Its solvency ranks better than 71% of 27676 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
68
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability81▲+4
Solvency92▲+14
Growth52=
Track record94
Bankruptcy probability, 12 months
2.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 3.31 against 2.29 in 2024; short-term debt: 27.6% and cash: 14.4% of total assets), and 33.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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
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
Sector 43
higher
← 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
66.8%
Return on assets
9.6%
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 23-07-2026, 8 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
8 d early
2024
3 d early
2023
31 d late
2022
on the day
← 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
20-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€96k▲ 16.9%
2024 · €82k
2022: €36k
2023: €72k
2024: €82k
2022 → 2025
Total assets
€144k▼ 7.2%
2024 · €155k
2022: €59k
2023: €154k
2024: €155k
2022 → 2025
Net result
€14k▲ 35.0%
2024 · €10k
2022: €29k
2023: €36k
2024: €10k
2022 → 2025
Working capital
€92k▲ 21.3%
2024 · €76k
2022: €34k
2023: €64k
2024: €76k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€36k-€72k▲ 98.1%€82k▲ 14.3%€96k▲ 16.9%
Operating result€63k-€43k▼ 31.5%€18k▼ 59.0%€21k▲ 19.9%
Net result€29k-€36k▲ 23.6%€10k▼ 71.1%€14k▲ 35.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 20% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €144k
Fixed assets
€12k▼ 40.2%
Current assets
€132k▼ 2.0%
Equity and liabilities €144k
Equity
€96k▲ 16.9%
Debt
€48k▼ 34.3%
The debt ratio falls from 47.0% to 33.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€35k▲
2024 · €31k
Cash flow
€28k▲
2024 · €23k
Solvency
66.8%▲
2024 · 53.0%
Current ratio
3.31▲
2024 · 2.29
Quick ratio
3.31▲
2024 · 2.29
Debt / equity
0.50▼
2024 · 0.89
ROE
14.4%▲
2024 · 12.5%
ROA
9.6%▲
2024 · 6.6%
Interest coverage
21.04▲
2024 · 17.04
Debt
€48k▼
2024 · €73k
Debt ≤ 1 year
€40k▼
2024 · €59k
Debt > 1 year
€8k▼
2024 · €14k
Income taxes
€6k▲
2024 · €6k
Staff costs
€13k
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€155k€144k▼
Fixed assets21/28€21k€12k▼
Tangible fixed assets22/27€19k€10k▼
Plant, machinery and equipment23€7k€6k▼
Furniture and vehicles24€12k€3k▼
Financial fixed assets28€1k€3k▲
Current assets29/58€134k€132k▼
Amounts receivable within one year40/41€97k€108k▲
Trade receivables40€92k€94k▲
Other amounts receivable41€4k€14k▲
Cash at bank and in hand54/58€36k€21k▼
Deferred charges and accrued income490/1€2k€2k▲
Equity and liabilities
Total equity and liabilities10/49€155k€144k▼
Equity10/15€82k€96k▲
Contributions10/11€2k€2k=
Reserves13€80k€94k▲
Distributable reserves133€80k€94k▲
Amounts payable17/49€73k€48k▼
Amounts payable after more than one year17€14k€8k▼
Financial debts170/4€14k€8k▼
Amounts payable within one year42/48€59k€40k▼
Current portion of amounts payable after more than one year42€6k€6k▲
Trade debts44€12k€26k▲
Suppliers440/4€12k€26k▲
Taxes, remuneration and social security45€38k€2k▼
Taxes450/3€38k-
Remuneration and social security454/9-€2k
Other amounts payable47/48€2k€5k▲
Income statement
Code20242025
Remuneration, social security and pensions62-€13k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€13k€14k▲
Other operating charges640/8€2k€2k▼
Gross operating margin9900€33k€49k▲
Operating profit (loss)9901€18k€21k▲
Financial income75/76B€4€0▼
Recurring financial income75€4€0▼
Financial charges65/66B€2k€2k▼
Recurring financial charges65€2k€2k▼
Profit (loss) for the period before taxes9903€16k€20k▲
Income taxes67/77€6k€6k▲
Profit (loss) for the period9904€10k€14k▲
Profit (loss) for the period to be appropriated9905€10k€14k▲
Appropriation of the result
Profit (loss) to be appropriated9906€10k€14k▲
Transfer to equity691/2€10k€14k▲
To other reserves6921€10k€14k▲
The notes to these accounts (8 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
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €10k ▼71.1%
Net result drops to €10k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
31-12
Financial
Highest result since 2022net €36k ▲23.6%
Net result €36k, the highest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Brasschaat · 2 establishment units since 2021
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.
Valeriaan 242930 BrasschaatGround area
1,453 m²
Building footprint
377 m²
Volume, LiDAR
1,620 m³
2 parcels, Flanders · tallest building 9.4 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
HGA-SOLUTIONS
since 20212.316.260.624
Ridder Walter Van Havrelaan 249, 2900 Schoten
since 20232.351.478.156
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11442C0271/00K002 | Flanders | 961 m² | 1 · 242 m² | 7.9 m · 1 fl. |
| 11324D0418/00F002 | Flanders | 491 m² | 1 · 135 m² | 9.4 m · 2 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.
Similar companies · same sector, comparable size
MIRANDA ELECTRICITE
BE 0722.765.509
Nivelles · Eq €96k
BETA GROUP
BE 0800.688.478
Vilvoorde · Eq €96k
PINCIUC GROEP
BE 0794.514.231
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Smart Living
BE 0642.545.717
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CL-Systems
BE 0786.626.151
Ledegem · Eq €96k
Of 22,826 companies in sector 43211 we hold annual accounts for 10,327. 8,813 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded27-04-2021
Fiscal year end31-12
Activities, NACEBEL
43211General electrical installation work
41001General construction of residential buildings
43230Insulation installation
43291Specialised construction activities
46130Agents in the wholesale of timber and building materials
46643Wholesale of electrical equipment, including installation materials
58290Other software publishing
71121Engineering and related technical consultancy, excluding land surveyors
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.