HHM
ActiveSummary
The computed 12-month bankruptcy probability of HHM is 1.9% (moderate). The 2025 annual accounts show equity of €39,221 and a net result of €142,987, of which €210,200 non-recurring income. Equity has been growing by about 14% per year since 2019. Its solvency ranks better than 53% of 1,598 sector peers (NACE 55, financial year 2025). The company has been active since 2003 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 05-05-2003 Normal situation
- Activity
- Hotels and similar accommodation NACE 55100
- Establishment unit
- 2.133.171.243 9700 Oudenaarde, since 24-04-2003
- Financial year end
- 30 September
- Peppol
- Reachable since 17-03-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.9%
- Gross margin
- €158,120
- ▲ 15×
- Turnover
- ≈ €400,000
- estimated
- Profit
- €142,987
- ▲ 33×
- Equity
- €39,221
- Total assets
- €170,856
- ▼ 3.8%
Score breakdownraises risk2 changes of registered office in 24 monthslowers riskLiquidity: current ratio 1.75, cash €26,290Founded in 2003Size: total assets €170,856Show the evidence
Checked score
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 55, micro). It does better than 50% of them on solvency, 45% on liquidity, 97% on profitability and 95% on growth.
The bankruptcy probability was computed on 03-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 31 days after the deadline. In the sector (NACE 55), the median for financial year 2024 was 1 day before the deadline, and 45% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 30-04-2026 PDF all 22 filings
Every figure per financial year
The operating result for 2025 is 31 times that of 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €0 | - | €24,000 | €2,581 | €7,313 |
| Depreciation and write-downs of the year | - | - | €3,459 | €4,938 | €5,640 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €185,200 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €3,459 | €4,938 | €5,640 | ▲ 14.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €78,377 | -€78,377 | - | - |
| Other operating charges640/8 | - | - | €410 | €472 | €62 | €863 | €755 | ▼ 12.5% |
| Non-recurring operating charges66A | - | - | - | - | - | €78,377 | €336 | ▼ 99.6% |
| Gross operating margin9900 | -€5,326 | -€14,971 | €22,930 | €83,318 | €21,069 | €10,703 | €158,120 | ▲ 15× |
| Operating profit (loss)9901 | -€5,396 | -€16,234 | €22,520 | €82,846 | -€60,828 | €4,902 | €151,389 | ▲ 31× |
| Financial income75/76B | - | - | - | €744 | - | €0 | €25,000 | ▲ 2,500,000× |
| Recurring financial income75 | - | - | - | €744 | - | €0 | €0 | ▼ 100% |
| Non-recurring financial income76B | - | - | - | - | - | - | €25,000 | - |
| Financial charges65/66B | - | - | €168 | €341 | €257 | €237 | €1,177 | ▲ 397% |
| Recurring financial charges65 | €237 | €161 | €168 | €341 | €257 | €237 | €1,177 | ▲ 397% |
| Profit (loss) for the period before taxes9903 | -€5,633 | -€16,396 | €22,352 | €83,249 | -€61,085 | €4,665 | €175,212 | ▲ 38× |
| Income taxes67/77 | - | - | - | - | €200 | €282 | €32,225 | ▲ 114× |
| Profit (loss) for the period9904 | -€5,633 | -€16,396 | €22,352 | €83,249 | -€61,285 | €4,383 | €142,987 | ▲ 33× |
| Profit (loss) for the period to be appropriated9905 | -€5,633 | -€16,396 | €22,352 | €83,249 | -€61,285 | €4,383 | €142,987 | ▲ 33× |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €134,945 | €133,975 | €156,258 | €217,119 | €181,849 | €177,662 | €170,856 | ▼ 3.8% |
| Fixed assets21/28 | €9,056 | €9,056 | €9,056 | €9,056 | €29,597 | €27,240 | €28,913 | ▲ 6.1% |
| Tangible fixed assets22/27 | - | - | - | - | €20,541 | €18,185 | €19,857 | ▲ 9.2% |
| Plant, machinery and equipment23 | - | - | - | - | - | €598 | €442 | ▼ 26.0% |
| Furniture and vehicles24 | - | - | - | - | €20,541 | €17,586 | €19,415 | ▲ 10.4% |
| Financial fixed assets28 | €9,056 | €9,056 | €9,056 | €9,056 | €9,056 | €9,056 | €9,056 | = |
| Current assets29/58 | €125,889 | €124,920 | €147,203 | €208,063 | €152,252 | €150,421 | €141,944 | ▼ 5.6% |
| Amounts receivable after more than one year29 | - | - | €76,988 | €76,988 | €76,988 | €76,988 | €76,678 | ▼ 0.4% |
| Other amounts receivable291 | - | - | €76,988 | €76,988 | €76,988 | €76,988 | €76,678 | ▼ 0.4% |
| Amounts receivable within one year40/41 | €9,117 | €9,339 | €4,763 | €84,954 | €37,559 | €20,584 | €38,264 | ▲ 85.9% |
| Trade receivables40 | - | - | €851 | €81,042 | €33,647 | €11,672 | €25,779 | ▲ 121% |
| Other amounts receivable41 | - | - | €3,912 | €3,912 | €3,912 | €8,912 | €12,485 | ▲ 40.1% |
| Current investments50/53 | €9,871 | €9,871 | €9,871 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €36 | - | - | €8,400 | €8,983 | €52,325 | €26,290 | ▼ 49.8% |
| Deferred charges and accrued income490/1 | - | - | €55,581 | €37,722 | €28,722 | €524 | €711 | ▲ 35.6% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €134,945 | €133,975 | €156,258 | €217,119 | €181,849 | €177,662 | €170,856 | ▼ 3.8% |
| Equity10/15 | -€136,069 | -€152,465 | -€130,113 | -€46,864 | -€108,149 | -€103,766 | €39,221 | - |
| Contributions10/11 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €11,855 | €11,855 | €11,855 | €11,855 | €11,855 | €11,855 | €33,021 | ▲ 179% |
| Non-distributable reserves130/1 | - | - | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Reserves not available under the articles1311 | - | - | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Distributable reserves133 | - | - | €10,000 | €10,000 | €10,000 | €10,000 | €31,166 | ▲ 212% |
| Profit (loss) carried forward14 | -€154,124 | -€170,520 | -€148,168 | -€64,919 | -€126,204 | -€121,821 | - | - |
| Provisions and deferred taxes16 | €185,200 | €185,200 | €185,200 | €185,200 | €185,200 | €185,200 | - | - |
| Provisions for liabilities and charges160/5 | - | - | €185,200 | €185,200 | €185,200 | €185,200 | - | - |
| Pensions and similar obligations160 | - | - | €185,200 | €185,200 | €185,200 | €185,200 | - | - |
| Amounts payable17/49 | €85,814 | €101,240 | €101,171 | €78,783 | €104,798 | €96,227 | €131,635 | ▲ 36.8% |
| Amounts payable after more than one year17 | - | €91,276 | €91,276 | €50,741 | €50,741 | €50,741 | €50,741 | = |
| Financial debts170/4 | - | - | €91,276 | €50,741 | €50,741 | €50,741 | €50,741 | = |
| Amounts payable within one year42/48 | €85,814 | €9,965 | €9,895 | €28,042 | €54,051 | €45,476 | €80,895 | ▲ 77.9% |
| Financial debts43 | - | - | €6,927 | - | - | - | - | - |
| Other loans439 | - | - | €6,927 | - | - | - | - | - |
| Trade debts44 | €223 | €921 | €1,409 | €555 | €16,038 | €17,030 | €18,246 | ▲ 7.1% |
| Suppliers440/4 | - | - | €1,409 | €555 | €16,038 | €17,030 | €18,246 | ▲ 7.1% |
| Taxes, remuneration and social security45 | - | - | €1,560 | €1,636 | €5,068 | €5,642 | €34,065 | ▲ 504% |
| Taxes450/3 | - | - | €1,560 | €1,636 | €5,068 | €5,642 | €34,065 | ▲ 504% |
| Other amounts payable47/48 | - | - | - | €25,851 | €32,945 | €22,805 | €28,584 | ▲ 25.3% |
| Accrued charges and deferred income492/3 | - | - | - | - | €6 | €10 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,633 | -€16,396 | €22,352 | €83,249 | -€61,285 | €4,383 | €142,987 | ▲ 33× |
| + Depreciation and write-downs630 | - | - | - | - | €3,459 | €4,938 | €5,640 | ▲ 14.2% |
| Operating cash flow (approximation) | -€5,633 | -€16,396 | €22,352 | €83,249 | -€57,826 | €9,321 | €148,627 | ▲ 16× |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€24,000 | -€2,581 | -€7,313 | ▼ 183% |
| Change in cash | - | - | - | - | €583 | €43,342 | -€26,034 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 3,818 companies had the same profile as HHM has now. Two years later, 95.1% were still going and 1.0% had gone bankrupt.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of HHM itself is higher: 1.9% within 12 months. It rests on far more data about HHM than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,818 companies, not a prediction for HHM. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 22 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 30-04-2026 | 2026-00097626 | |
| 30-09-2024 | micro format | 30-04-2025 | 2025-00089272 | |
| 30-09-2023 | micro format | 30-04-2024 | 2024-00079760 | |
| 30-09-2022 | micro format | 02-05-2023 | 2023-00083681 | |
| 30-09-2021 | micro format | 05-05-2022 | 2022-20023256 | |
| 30-09-2020 | micro format | 30-04-2021 | 2021-13000303 | |
| 30-09-2019 | micro format | 24-11-2020 | 2020-71800168 | |
| 30-09-2018 | micro format | 11-03-2019 | 2019-06700116 | |
| 30-09-2017 | micro format | 03-04-2018 | 2018-08800425 | |
| 30-09-2016 | abbreviated format | 09-01-2017 | 2017-00800001 |
Board & ownership
Directors
Owners and capital
Owners
Network & group
HHM shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of HHM. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
14-10
Gazette deed
Registered office moved from Halen to OudenaardeNew seat: Vontstraat 6D bus 101. 9700 Oudenaarde · Previous seat: Sportlaan 41 A301 3545 Halen België2 points ▸
- Board meeting, 01-10-2026
- Registered-office move, Vontstraat 6D bus 101. 9700 Oudenaarde
17-01
Gazette deed
Registered office moved from Bekkevoort to HalenNew seat: Sportlaan 41 bus A301, 3545 Halen · Previous seat: Dorpsstraat 49, 3460 Bekkevoort · Registered office clause4 points ▸
- Registered office clause, “Dorpsstraat 49, 3460 Bekkevoort” (deed in Dutch)
- Board meeting, 15-12-2024
- Registered-office move, Sportlaan 41 bus A301, 3545 Halen
- Director in office, Hubertus Hannes (director)
15-07
Gazette deed
Registered office moved from Voeren to AssentNew seat: Dorpsstraat 49, 3460 Assent · Previous seat: Kinkenberg 6, 3798 Voeren2 points ▸
- Board meeting, 19-06-2024
- Registered-office move, Dorpsstraat 49, 3460 Assent
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
2 former offices
- Dorpsstraat 49, 3460 Bekkevoort until 15-12-2024 · act of 17-01-2025
- Kinkenberg 6, 3798 Voeren until 19-06-2024 · act of 15-07-2024
Activities
NACEBEL 2025Codes under NACEBEL 2008
Codes under NACEBEL 2003
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 45507A0203/00F000 | Flanders | 1,799 m² | 1 · 487 m² | 20.7 m · 3 |