HILIGSMANN FRERES
ActiveThe computed 12-month bankruptcy probability of HILIGSMANN FRERES is 1.5% (moderate). The annual accounts of HILIGSMANN FRERES for fiscal year 2024 show a net loss of 66% of the equity at the start of that year. The 2024 annual accounts show equity of €33k and a net result of €-65k. Equity is growing by ~15.7% per year across the filed fiscal years. Its solvency ranks better than 13% of 36373 sector peers (fiscal year 2024). The company has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
33
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability0▼-66
Solvency33▼-14
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
1.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.07 against 1.54 in 2023; short-term debt: 41.7% and cash: 4.2% of total assets), and 92.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 →
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 2024Solvency, return and age of the figures
Solvency
7.6%
Return on assets
-14.9%
Age of the figures
21 mo
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 · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-65k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 36373 sector peers (2024).
NBB · sector comparisonPosition among 36373 sector peers
Solvency
better than 13%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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
not confirmed
2024
29 d late
2023
61 d late
2022
28 d late
2021
29 d late
2020
27 d late
2019
38 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€33k▼ 66.1%
2023 · €99k
2018: €44k
2019: €45k
2020: €67k
2021: €98k
2022: €109k
2023: €99k
2018 → 2024
Total assets
€438k▼ 2.9%
2023 · €451k
2018: €253k
2019: €278k
2020: €243k
2021: €496k
2022: €512k
2023: €451k
2018 → 2024
Net result
€-65k▼ 561%
2023 · €-10k
2018: €201
2019: €1k
2020: €22k
2021: €31k
2022: €10k
2023: €-10k
2018 → 2024
Working capital
€13k▼ 85.2%
2023 · €91k
2018: €43k
2019: €69k
2020: €82k
2021: €49k
2022: €92k
2023: €91k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€67k-€98k▲ 46.8%€109k▲ 10.3%€99k▼ 9.1%€33k▼ 66.1%
Operating result€27k-€32k▲ 20.3%€13k▼ 59.8%€-6k€-58k▼ 871%
Net result€22k-€31k▲ 43.9%€10k▼ 67.8%€-10k€-65k▼ 561%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €58k in 2024 against €6k in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €438k
Fixed assets
€242k▲ 26.1%
Current assets
€196k▼ 24.4%
Equity and liabilities €438k
Equity
€33k▼ 66.1%
Debt
€405k▲ 14.8%
The debt ratio rises from 78.1% to 92.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€284▼
2023 · €33k
Cash flow
€-7k▼
2023 · €29k
Solvency
7.6%▼
2023 · 21.9%
Current ratio
1.07▼
2023 · 1.54
Quick ratio
0.34▼
2023 · 0.48
Debt / equity
12.09▲
2023 · 3.57
ROE
-195.0%▼
2023 · -10.0%
ROA
-14.9%▼
2023 · -2.2%
Interest coverage
0.04▼
2023 · 6.31
Debt
€405k▲
2023 · €352k
Debt ≤ 1 year
€183k▲
2023 · €169k
Debt > 1 year
€218k▲
2023 · €180k
Income taxes
€105
Staff costs
€208k▲
2023 · €200k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€451k€438k▼
Fixed assets21/28€192k€242k▲
Intangible fixed assets21€6k€3k▼
Tangible fixed assets22/27€186k€239k▲
Plant, machinery and equipment23€43k€37k▼
Furniture and vehicles24€36k€27k▼
Leasing and similar rights25€70k€135k▲
Other tangible fixed assets26€36k€39k▲
Financial fixed assets28€50€50=
Current assets29/58€259k€196k▼
Stocks and contracts in progress3€178k€133k▼
Stocks30/36€178k€133k▼
Amounts receivable within one year40/41€66k€35k▼
Trade receivables40€58k€33k▼
Other amounts receivable41€8k€3k▼
Cash at bank and in hand54/58€7k€19k▲
Deferred charges and accrued income490/1€7k€9k▲
Equity and liabilities
Total equity and liabilities10/49€451k€438k▼
Equity10/15€99k€33k▼
Contributions10/11€12k€12k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€84k€19k▼
Amounts payable17/49€352k€405k▲
Amounts payable after more than one year17€180k€218k▲
Financial debts170/4€85k€123k▲
Other amounts payable178/9€95k€95k=
Amounts payable within one year42/48€169k€183k▲
Current portion of amounts payable after more than one year42€20k€33k▲
Trade debts44€51k€43k▼
Suppliers440/4€51k€43k▼
Taxes, remuneration and social security45€28k€28k▲
Taxes450/3€3k€4k▲
Remuneration and social security454/9€24k€24k▲
Other amounts payable47/48€70k€78k▲
Accrued charges and deferred income492/3€4k€4k▲
Income statement
Code20232024
Remuneration, social security and pensions62€200k€208k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€38k€58k▲
Other operating charges640/8€2k€5k▲
Non-recurring operating charges66A€22k-
Gross operating margin9900€257k€213k▼
Operating profit (loss)9901€-6k€-58k▼
Financial income75/76B€1k-
Recurring financial income75€1k-
Financial charges65/66B€5k€7k▲
Recurring financial charges65€5k€7k▲
Profit (loss) for the period before taxes9903€-10k€-65k▼
Income taxes67/77-€105
Profit (loss) for the period9904€-10k€-65k▼
Profit (loss) for the period to be appropriated9905€-10k€-65k▼
Appropriation of the result
Profit (loss) to be appropriated9906€84k€19k▼
Profit (loss) brought forward from the previous period14P€94k€84k▼
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Weakest financial yearnet €-65k
Net result drops to €-65k, the lowest in the series.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
31-12
Financial
Equity above €100kEq €109k ▲10.3%
5 profitable years in a row build equity to €109k.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-12
Financial
Highest result since 2018net €31k ▲43.9%
Operating result €32k, net result €31k, both a record.
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
03-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
17-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
03-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Thimister-Clermont · 1 establishment unit since 2014
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.
Pierreux 34a4890 Thimister-ClermontGround area
2,195 m²
Building footprint
1,108 m²
Volume, LiDAR
7,440 m³
2 parcels, Wallonia · tallest building 15.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Hiligsmann Frères
since 20142.233.534.173
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63017C0476/00P000 | Wallonia | 1,257 m² | 1 · 983 m² | 15.6 m · 2 fl. |
| 63017C0474/00K000 | Wallonia | 937 m² | 1 · 125 m² | 12.6 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.
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Of 20,026 companies in sector 43320 we hold annual accounts for 9,136. 6,934 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded06-08-2014
Fiscal year end31-12
Activities, NACEBEL
43320Joinery installation
31002Manufacture of furniture
31004Manufacture of dining room, living room, bedroom and bathroom furniture
43211General electrical installation work
43212Electrical installation work in industrial facilities
43332Laying of wooden floor and wall coverings
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.