Equity
€19,313 ▲ 36.1%
HL CONCEPT paid out €833 in dividends. That is 14% of the 2025 profit.
HL CONCEPT
Lifetime
2 annual accounts with figures on one time axispeak €29,573 (2024)
€19,206▼ 35.1%
peak €12,044 (2024)
€5,961▼ 50.5%
peak €19,313 (2025)
€19,313▲ 36.1%
€43,878▼ 5.4%
Board1 name since 2023
1 directorHENRY Louis François Baudouin
Documentsfilings and deeds
14-07-202617 days before the deadline
2025micro format
Gross margin from €29,573 to €19,206Result from €12,044 to €5,961Dividend €833Equity from €14,185 to €19,313Cash from €12,035 to €40,158
Key points
from the 2025 annual accountsChecked score
82
Excellent
Financially stronger than 58% of micro companies in specialised construction (NACE 43)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,696 companies (NACE 43, micro).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
01-2025: 1.9%
02-2025: 1.9%● unchanged vs 01-2025
03-2025: 1.9%● unchanged vs 02-2025
04-2025: 2.3%▲ +0.4 percentage points vs 03-2025
05-2025: 2.4%▲ +0.1 percentage points vs 04-2025
06-2025: 2.7%▲ +0.3 percentage points vs 05-2025
07-2025: 2.7%● unchanged vs 06-2025
08-2025: 3.0%▲ +0.3 percentage points vs 07-2025highest value
09-2025: 1.5%▼ -1.5 percentage points vs 08-2025
10-2025: 1.5%● unchanged vs 09-2025
11-2025: 1.5%● unchanged vs 10-2025
12-2025: 1.6%▲ +0.1 percentage points vs 11-2025
01-2026: 1.6%● unchanged vs 12-2025
02-2026: 1.6%● unchanged vs 01-2026
03-2026: 1.6%● unchanged vs 02-2026
04-2026: 1.7%▲ +0.1 percentage points vs 03-2026
05-2026: 1.7%● unchanged vs 04-2026
06-2026: 1.7%● unchanged vs 05-2026
07-2026: 1.7%● unchanged vs 06-2026
08-2026: 0.6%▼ -1.1 percentage points vs 07-2026
09-2026: 0.6%● unchanged vs 08-2026lowest value
10-2026: 0.6%● unchanged vs 09-2026lowest value
11-2026: 0.6%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Founded in 2023
Sector: Specialised construction activities (NACE 43)
lowers risk
Liquidity: current ratio 1.29, cash €40,158
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 43, micro). It does better than 32% of them on solvency, 62% on liquidity, 60% on profitability and 78% on growth.
The bankruptcy probability was computed on 10-11-2026 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 low class on 30-06-2025, 0.8% 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, 39,278 companies had the same profile as HL CONCEPT has now. Each dot stands for 99 companies, two years later.
95.8%
were still trading
2.3%
stopped another way
1.8%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of HL CONCEPT itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,448 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 39,278 companies, not a prediction for HL CONCEPT. 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 €1,500 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.29 (0.95 in 2024), below the usual 1.5. Short-term debt is 67.8% and cash 63.6% of total assets. 69.4% 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
Four signals.
lowers riskraises riskneutral
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 14-07-2026, 17 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
17 days early
2024
19 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 1 day after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% 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.
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1003871608
Incorporation
Founding capital of €3,000, 30 shares · Founder: HENRY Louis François Baudouin · Appointment: HENRY Louis François Baudouin (statutory director) · published on 28-12-2023 · Gazette deed
First establishment
Rue Tomballes 19, Héron
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| HL CONCEPT Héron | €63,191 | €19,206 | 30.6% | - |
| DAVID DELAVIGNETTE Seraing | €65,291 | €22,372 | 71.8% | - |
| CRINE CHAUFFAGE Liège | €71,394 | €17,709 | 10.0% | - |
| DADASOV CONSTRUCT’ Halle | €66,261 | €18,632 | 18.4% | - |
| MD Heating & Solutions Genk | €55,841 | €20,886 | 27.7% | - |
| NAITECH CHAUFFAGE SERVICES Eghezée | €55,669 | €20,778 | 44.6% | - |
| THERMOGENE Paliseul | €53,645 | €18,010 | 73.5% | - |
These companies have the same main activity as HL CONCEPT: installation of electric heating, air conditioning, cooling and ventilation (NACE 43222). They are comparable in size and age: total assets between €53,600 and €71,400, founded between 2023 and 2024.
Official details
Source: KBO- Status
- Active since 24-12-2023Normal situation
- Activity
- Installation of electric heating, air conditioning, cooling and ventilationNACE 43222
- Establishment unit
- 2.355.611.1484218 Héron, since 24-12-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 25-11-2025
Annual accounts 2025
- €63,191▲ 4.3%
- Filing
- Filed on 14-07-2026, 17 days before the end of the filing period
Insights on HL CONCEPT
HL CONCEPT has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €19,313 and a net result of €5,961.
Its solvency ranks better than 32% of 35,156 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
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 HL CONCEPT
- What is the company number of HL CONCEPT?
- The company number of HL CONCEPT is 1003.871.608. The VAT number is the same number with BE in front: BE 1003.871.608.
- Where is HL CONCEPT based?
- The registered office is at Rue Tomballes 19, 4218 Héron.Company details
- What does HL CONCEPT do?
- According to the KBO register, the main activity is installation of electric heating, air conditioning, cooling and ventilation (NACE 43222).
- What is the legal form of HL CONCEPT?
- HL CONCEPT is a private limited company (BV).
- When was HL CONCEPT founded?
- HL CONCEPT was founded on 24-12-2023.
- Is HL CONCEPT still active?
- Yes, HL CONCEPT is an active enterprise in the KBO register.
- What is the turnover of HL CONCEPT?
- The turnover in financial year 2025 is ≈ €270,000. This figure is estimated from the gross margin of €19,206 and 31 comparable companies (NACE 43222). It probably lies between €180,000 and €370,000. It is a rough estimate.Financials
- Is HL CONCEPT profitable?
- In financial year 2025, HL CONCEPT made a profit of €5,961.
- Where can I find the annual accounts of HL CONCEPT?
- HL CONCEPT filed 2 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of HL CONCEPT due?
- HL CONCEPT must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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