Equity
€57,854 from €291,020 in 2020
Equity fell by 80% in 5 years.
HIRUNDO
Lifetime
19 annual accounts with figures on one time axis, 20 filings since 2006peak €248,417 (2018)
€171,171▲ 62.1%
lowest -€86,967 (2024)
-€66,070▲ €20,897
peak €291,020 (2020)
€57,854▼ 53.3%
€1.9m▲ 10.8%
peak 1.8 FTE (2018)
0.8 FTEunchanged
Board1 name since 2024
1 directorDejonckheere Winnewald
Documentsfilings and deeds
20-07-202611 days before the deadline
2025abbreviated format
Gross margin from €105,579 to €171,171Loss of €66,070Equity from €123,925 to €57,854Investments €214,747Cash from €7,954 to €13,776
Key points
from the 2025 annual accountsLosses
-€233,166 in five years
Every financial year from 2021 to 2025 closed with a loss. 2024 was the heaviest.
Debts
€1.9m 97% of the balance sheet
Financial debts 92%Suppliers 1%Taxes and wages 1%Other 6%
Of this, €228,086 falls due within a year.
Investments
€236,160 2.4 × depreciation
Green is investment, beige is depreciation. Land and buildings stand 10.5% higher than in 2024.
Subsidiaries
-€43,594
Subsidiary with negative equity. NYTE · loss of €14,986 in 2025.
Position in the sector
-€66,070
Lower net result than 93% of companies in head offices and management consultancy. Sector median €37,500 · 10,856 companies.
Checked score
53
Fair
Financially stronger than 18% of micro companies in head offices and management consultancy (NACE 70)
Probability in this band: 1.5% to 4.2%
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59.
Bankruptcy probability within 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 48,570 companies (NACE 70, micro).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%lowest value
01-2025: 0.3%● unchanged vs 12-2024lowest value
02-2025: 0.3%● unchanged vs 01-2025
03-2025: 0.3%● unchanged vs 02-2025
04-2025: 0.3%● unchanged vs 03-2025
05-2025: 0.3%● unchanged vs 04-2025
06-2025: 0.4%▲ +0.1 percentage points vs 05-2025
07-2025: 0.5%▲ +0.1 percentage points vs 06-2025
08-2025: 0.6%▲ +0.1 percentage points vs 07-2025
09-2025: 0.6%● unchanged vs 08-2025
10-2025: 0.6%● unchanged vs 09-2025
11-2025: 0.6%● unchanged vs 10-2025
12-2025: 0.6%● unchanged vs 11-2025
01-2026: 0.6%● unchanged vs 12-2025
02-2026: 0.6%● unchanged vs 01-2026
03-2026: 0.6%● unchanged vs 02-2026
04-2026: 0.6%● unchanged vs 03-2026
05-2026: 0.6%● unchanged vs 04-2026
06-2026: 0.6%● unchanged vs 05-2026
07-2026: 0.6%● unchanged vs 06-2026highest value
08-2026: 0.4%▼ -0.2 percentage points vs 07-2026
09-2026: 0.4%● unchanged vs 08-2026
10-2026: 0.4%● unchanged vs 09-2026
11-2026: 0.4%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: a net loss of at least half of total assets or of the equity at the start of the financial year
Equity €57,854 (3.0% of total assets)
Liquidity: current ratio 0.27, cash €13,776
Loss of €66,070, the second in a row (financial year 2025)
lowers risk
Size: 0.8 FTE, total assets €2.0m
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 70, micro). It does better than 12% of them on solvency, 31% on liquidity, 16% on profitability and 12% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 974 companies had the same profile as HIRUNDO has now. Each dot stands for 3 companies, two years later.
92.9%
were still trading
4.4%
stopped another way
2.3%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of HIRUNDO itself is lower: 0.4% within 12 months. It rests on far more data about HIRUNDO than the profile alone.
Test of the method
The method was tested on the 497,447 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 974 companies, not a prediction for HIRUNDO. 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.
Credit verdict
Credit of up to €3,000 on 30-day terms, only on tighter conditions
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is insufficient, with a current ratio of 0.27 (0.48 in 2024), below 1. Short-term debt is 11.6% and cash 0.7% of total assets. 97% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises riskneutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€66,070
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 10856 sector peers (2025).
NBB · sector comparisonPosition among 10856 sector peers
Solvency
better than 10%
← 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 20-07-2026, 11 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
11 days early
2024
24 days early
2023
55 days early
2022
14 days early
2021
on the day
2020
15 days early
2019
29 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 21 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 17 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0870880054
Environmental permit granted
Nieuwbouw van bijgebouwen, niet-overdekte lage constructies en andere handelingen, Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden · Gent
Environmental permit refused
Nieuwbouw van bijgebouwen, niet-overdekte lage constructies en andere handelingen, Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden · Gent
New director
Dejonckheere Winnewald appointed, Dejonckheere Winnewald resigned · General meeting of 07-12-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| HIRUNDO Ghent | €2.0m | €171,171 | 3.0% | 0.8 |
| LAMBRECHT MATHIAS Wielsbeke | €1.7m | €196,688 | 85.2% | 0.6 |
| Fedeco Immo Lochristi | €1.8m | €150,225 | 54.8% | 0.3 |
| VREYS BUSINESS PARTNERS Dendermonde | €2.0m | €143,340 | 16.4% | 0.2 |
| VERO Zele | €1.4m | €129,071 | 83.6% | 0.9 |
| STEIGERS INVEST Temse | €3.1m | €184,560 | 86.3% | 1 |
| MEERSMAN Beveren-Kruibeke-Zwijndrecht | €1.8m | €209,320 | -0.2% | 1 |
These companies have the same main activity as HIRUNDO: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €1.4m and €3.1m, founded between 1996 and 2008.
Official details
Source: KBO- Status
- Active since 17-12-2004Normal situation
- Activity
- Business and other management consultancyNACE 70200and 2 others
- Establishment units
- 2.144.506.9799031 Ghent, since 29-12-2004
- 2.261.245.4899051 Ghent, since 15-02-2016
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Annual accounts 2025
- ≈ €270,000estimated
- €2.0m▲ 6.5%
- Employeeson 31-12-2025
- 1=
- Filing
- Filed on 20-07-2026, 11 days before the end of the filing period
Companies linked to HIRUNDO
Subsidiaries and holdings
- Gufo d’Oro10%
Insights on HIRUNDO
HIRUNDO files the abbreviated format. That format states no turnover. The gross margin rose from €14,293 in 2007 to €171,171 in 2025.
The balance sheet grew most from 2018 to 2020 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about HIRUNDO
- What is the company number of HIRUNDO?
- The company number of HIRUNDO is 0870.880.054. The VAT number is the same number with BE in front: BE 0870.880.054.
- Where is HIRUNDO based?
- The registered office is at Adolf Lootensstraat 14, 9031 Ghent.Company details
- What does HIRUNDO do?
- According to the KBO register, the main activity is business and other management consultancy (NACE 70200).
- What is the legal form of HIRUNDO?
- HIRUNDO is a private limited company (BV).
- When was HIRUNDO founded?
- HIRUNDO was founded on 17-12-2004.
- Is HIRUNDO still active?
- Yes, HIRUNDO is an active enterprise in the KBO register.
- How many employees does HIRUNDO have?
- HIRUNDO had an average of 0.8 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of HIRUNDO?
- The turnover in financial year 2025 is ≈ €270,000. This figure is estimated from the gross margin of €171,171 and 93 comparable companies (NACE 70200). It probably lies between €220,000 and €360,000.
- Is HIRUNDO profitable?
- In financial year 2025, HIRUNDO made a loss of €66,070.
- Where can I find the annual accounts of HIRUNDO?
- HIRUNDO filed 20 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of HIRUNDO due?
- HIRUNDO must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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