HIMSTONE
ActiveSummary
HIMSTONE has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €111,966 and a net result of €3,612. Equity is growing by ~17.4% per year across the filed fiscal years. Its solvency ranks better than 13% of 28254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability28▼-2
Solvency33▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days only on tighter terms
Liquidity tight (current ratio 1.38 against 1.43 in 2024; short-term debt: 72.5% and cash: 8.7% of total assets), and 91.7% of the assets are financed with debt.
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Signals
Five 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
Specialised construction activities (NACE 43)
about 85% more 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
8.3%
Return on assets
0.3%
Age of the figures
9 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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 28254 sector peers (2025).
NBB · sector comparisonPosition among 28254 sector peers
Solvency
better than 13%
← weakest
strongest →
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
15 d early
2023
8 d early
2022
49 d early
2021
2 d early
2020
52 d early
2019
12 d late
← 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 16 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€111,966▲ 3.3%
2024 · €108,354
Total assets
€1.3m▼ 39.5%
2024 · €2.2m
Net result
€3,612▼ 81.1%
2024 · €19,160
Working capital
€366,266▼ 44.7%
2024 · €661,768
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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€101,268▼ 40.8%€96,706▼ 4.5%€101,982▲ 5.5%€159,108▲ 56.0%€105,827▼ 33.5%
Net result€19,526within the sector's middle half▲ 395%€14,604within the sector's middle half▼ 25.2%€11,865within the sector's middle half▼ 18.8%€19,160within the sector's middle half▲ 61.5%€3,612within the sector's middle half▼ 81.1%
Equity€62,725below the sector's middle half▲ 45.2%€77,329below the sector's middle half▲ 23.3%€89,194below the sector's middle half▲ 15.3%€108,354within the sector's middle half▲ 21.5%€111,966within the sector's middle half▲ 3.3%
Total assets€545,624within the sector's middle half▼ 37.3%€520,955within the sector's middle half▼ 4.5%€1.4mwithin the sector's middle half▲ 169%€2.2mabove the sector's middle half▲ 58.1%€1.3mabove the sector's middle half▼ 39.5%
Debt€482,899▼ 41.6%€443,626▼ 8.1%€1.3m▲ 196%€2.1m▲ 60.6%€1.2m▼ 41.7%
Working capital€461,933above the sector's middle half▲ 930%€505,754above the sector's middle half▲ 9.5%€688,755above the sector's middle half▲ 36.2%€661,768above the sector's middle half▼ 3.9%€366,266above the sector's middle half▼ 44.7%
Solvency11.5%below the sector's middle half▲ 6.5pp14.8%below the sector's middle half▲ 3.3pp6.4%below the sector's middle half▼ 8.5pp4.9%below the sector's middle half▼ 1.5pp8.3%below the sector's middle half▲ 3.5pp
Current ratio6.83above the sector's middle half▲ 5.7844.59above the sector's middle half▲ 37.751.97within the sector's middle half▼ 42.621.43within the sector's middle half▼ 0.551.38within the sector's middle half▼ 0.05
Return on assets (ROA)3.6%within the sector's middle half▲ 3.1pp2.8%within the sector's middle half▼ 0.8pp0.8%below the sector's middle half▼ 2.0pp0.9%within the sector's middle half=0.3%below the sector's middle half▼ 0.6pp
Staff (FTE)0.71.4▲ 100%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction 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 falls in 2025; 2025 is 33% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€3,244 ▼ 16.0%
Current assets
€1.3m ▼ 39.5%
Equity and liabilities €1.3m
Equity
€111,966 ▲ 3.3%
Debt
€1.2m ▼ 41.7%
Debt's share of the balance-sheet total falls from 95.1% to 91.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€107,710▼
2024 · €161,034
Cash flow
€5,494▼
2024 · €21,086
Quick ratio
0.30▲
2024 · 0.12
Debt to equity
10.99▼
2024 · 19.48
ROE
3.2%▼
2024 · 17.7%
Interest coverage
1.12▼
2024 · 1.26
Debt ≤ 1 year
€973,043▼
2024 · €1.6m
Debt > 1 year
€257,396▼
2024 · €557,277
Income taxes
€8,340▼
2024 · €12,384
Staff costs
€84,714▲
2024 · €38,034
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,377 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 96% are still going.
- Micro
- 10 to 20 years old
- solvency under 10%
- a profit under 5% of the balance sheet
2.0%
went bankrupt
1.6%
stopped otherwise
96%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 1,377 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 | €0 | - | - | - | €10,735 | - |
| Remuneration, social security and pensions62 | - | - | - | €38,034 | €84,714 | ▲ 123% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,110 | €1,418 | €1,155 | €1,926 | €1,883 | ▼ 2.3% |
| Other operating charges640/8 | €867 | €1,113 | €1,974 | €5,833 | €5,768 | ▼ 1.1% |
| Gross operating margin9900 | €103,245 | €99,237 | €105,111 | €204,901 | €198,192 | ▼ 3.3% |
| Operating profit (loss)9901 | €101,268 | €96,706 | €101,982 | €159,108 | €105,827 | ▼ 33.5% |
| Financial income75/76B | €100 | €100 | €0 | €430 | €2,488 | ▲ 479% |
| Recurring financial income75 | €100 | €100 | €0 | €430 | €2,488 | ▲ 479% |
| Financial charges65/66B | €65,940 | €76,516 | €82,589 | €127,993 | €96,363 | ▼ 24.7% |
| Recurring financial charges65 | €65,940 | €76,516 | €82,589 | €127,993 | €96,363 | ▼ 24.7% |
| Profit (loss) for the period before taxes9903 | €35,428 | €20,289 | €19,393 | €31,544 | €11,952 | ▼ 62.1% |
| Income taxes67/77 | €15,902 | €5,685 | €7,528 | €12,384 | €8,340 | ▼ 32.7% |
| Profit (loss) for the period9904 | €19,526 | €14,604 | €11,865 | €19,160 | €3,612 | ▼ 81.1% |
| Profit (loss) for the period to be appropriated9905 | €19,526 | €14,604 | €11,865 | €19,160 | €3,612 | ▼ 81.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €545,624 | €520,955 | €1.4m | €2.2m | €1.3m | ▼ 39.5% |
| Fixed assets21/28 | €4,516 | €3,598 | €5,789 | €3,863 | €3,244 | ▼ 16.0% |
| Tangible fixed assets22/27 | €3,716 | €2,298 | €4,989 | €3,063 | €2,944 | ▼ 3.9% |
| Plant, machinery and equipment23 | €1,210 | €759 | €3,907 | €2,317 | €1,036 | ▼ 55.3% |
| Furniture and vehicles24 | €2,507 | €1,539 | €1,082 | €746 | €1,909 | ▲ 156% |
| Financial fixed assets28 | €800 | €1,300 | €800 | €800 | €300 | ▼ 62.5% |
| Current assets29/58 | €541,107 | €517,357 | €1.4m | €2.2m | €1.3m | ▼ 39.5% |
| Amounts receivable after more than one year29 | - | - | - | - | €47,000 | - |
| Other amounts receivable291 | - | - | - | - | €47,000 | - |
| Stocks and contracts in progress3 | €22,869 | €184,900 | €800,750 | €2.0m | €1.1m | ▼ 48.1% |
| Stocks30/36 | €22,869 | €184,900 | €800,750 | €1.9m | €890,250 | ▼ 51.9% |
| Contracts in progress37 | - | - | - | €173,468 | €160,000 | ▼ 7.8% |
| Amounts receivable within one year40/41 | €66,701 | €288,817 | €214,113 | €85,974 | €111,005 | ▲ 29.1% |
| Trade receivables40 | €61,622 | €150,000 | €140,218 | €2,689 | €218 | ▼ 91.9% |
| Other amounts receivable41 | €5,079 | €138,817 | €73,895 | €83,284 | €110,787 | ▲ 33.0% |
| Cash at bank and in hand54/58 | €451,538 | €43,640 | €317,706 | €96,532 | €117,159 | ▲ 21.4% |
| Deferred charges and accrued income490/1 | - | - | €65,000 | €8,842 | €13,896 | ▲ 57.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €545,624 | €520,955 | €1.4m | €2.2m | €1.3m | ▼ 39.5% |
| Equity10/15 | €62,725 | €77,329 | €89,194 | €108,354 | €111,966 | ▲ 3.3% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €44,110 | €58,610 | €70,470 | €89,630 | €93,240 | ▲ 4.0% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €42,250 | €56,750 | €68,610 | €87,770 | €91,380 | ▲ 4.1% |
| Profit (loss) carried forward14 | €15 | €119 | €124 | €124 | €126 | ▲ 1.4% |
| Amounts payable17/49 | €482,899 | €443,626 | €1.3m | €2.1m | €1.2m | ▼ 41.7% |
| Amounts payable after more than one year17 | €400,000 | €400,000 | €604,773 | €557,277 | €257,396 | ▼ 53.8% |
| Financial debts170/4 | €400,000 | €400,000 | €604,773 | €557,277 | €257,396 | ▼ 53.8% |
| Amounts payable within one year42/48 | €79,174 | €11,603 | €708,815 | €1.6m | €973,043 | ▼ 37.3% |
| Current portion of amounts payable after more than one year42 | €0 | - | €674,227 | €1.5m | €934,880 | ▼ 38.4% |
| Trade debts44 | €1,592 | €5,918 | €17,946 | €22,129 | €21,991 | ▼ 0.6% |
| Suppliers440/4 | €1,592 | €5,918 | €17,946 | €22,129 | €21,991 | ▼ 0.6% |
| Taxes, remuneration and social security45 | €15,902 | €5,685 | €7,923 | €12,384 | €14,111 | ▲ 13.9% |
| Taxes450/3 | €15,902 | €5,685 | €7,923 | €12,384 | €8,340 | ▼ 32.7% |
| Remuneration and social security454/9 | - | - | - | - | €5,771 | - |
| Other amounts payable47/48 | €61,680 | €0 | €8,719 | €1,039 | €2,062 | ▲ 98.5% |
| Accrued charges and deferred income492/3 | €3,725 | €32,023 | €577 | €0 | €148 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,526 | €14,604 | €11,865 | €19,160 | €3,612 | ▼ 81.1% |
| + Depreciation and write-downs630 | €1,110 | €1,418 | €1,155 | €1,926 | €1,883 | ▼ 2.3% |
| Operating cash flow (approximation) | €20,636 | €16,022 | €13,019 | €21,086 | €5,494 | ▼ 73.9% |
| Investment in fixed assets (approximation) | - | -€500 | -€3,345 | €0 | -€1,264 | - |
| Change in cash | - | -€407,898 | €274,067 | -€221,174 | €20,627 | ▲ 109% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €100,000Eq €108,354 ▲21.5%
5 profitable years in a row build equity to €108,354.
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
12-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Liquidity times 7current ratio 44.59
Current ratio from 6.83 to 44.59; short-term debt falls from €79,174 to €11,603.
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €19,526 ▲395%
Net result €19,526, the highest in the series.
31-12
Financial
Liquidity times 6current ratio 6.83
Current ratio from 1.05 to 6.83; short-term debt falls from €821,237 to €79,174.
09-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €3,947
Net result €3,947 after 2 loss-making years.
12-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 12 days late
Show earlier events
2019
31-12
Financial
Weakest financial yearnet -€10,097
Net result drops to -€10,097, the lowest in the series; recovery starts the following year.
23-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 23 days late
2018
22-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 22 days late
2017
08-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 8 days late
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, Kapellen · 1 establishment unit since 2013
Ground area
5,353 m²
Building footprint
293 m²
Volume, LiDAR
485 m³
Parcel 11902H0023/00E000, Flanders · tallest building 17.7 m. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
HIMSTONE
since 20132.222.462.614
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11902H0023/00E000 | Flanders | 5,353 m² | 1 · 293 m² | 17.7 m |
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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Of 15,521 companies in sector 43990 we hold annual accounts for 7,423. 6,219 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
Founded12-08-2013
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0537503229
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.