HLP CONSTRUCT
ActiveSummary
HLP CONSTRUCT has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €66,744 and a net result of €49,790. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 45% of 7868 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+28
Solvency65▲+11
Growth78=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,000 at 30 days acceptable
Liquidity ample (current ratio 1.63 against 1.41 in 2024; short-term debt: 55.9% and cash: 11.1% of total assets), but 60.1% of the assets are financed with debt.
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Signals
Six 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 · 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
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
39.9%
Return on assets
29.8%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €66,744
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-08-2026, 30 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
30 d late
2024
15 d late
2023
30 d late
2022
32 d late
2021
31 d late
2020
31 d late
2019
31 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 29 days after 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€49,790▲ 516%
2024 · €8,077
Working capital
€59,316▲ 252%
2024 · €16,838
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€4,422▲ 181%-€32,437€4,280€9,877▲ 131%€62,602▲ 534%
Net result€562▲ 30.1%-€34,533€2,866€8,077▲ 182%€49,790▲ 516%
Equity€40,544▲ 1.4%€6,011▼ 85.2%€8,877▲ 47.7%€16,954▲ 91.0%€66,744▲ 294%
Total assets€87,399▼ 24.2%€66,808▼ 23.6%€47,236▼ 29.3%€57,805▲ 22.4%€167,129▲ 189%
Debt€46,855▼ 37.8%€60,797▲ 29.8%€38,359▼ 36.9%€40,851▲ 6.5%€100,385▲ 146%
Working capital€66,124▲ 0.3%€22,570▼ 65.9%€10,763▼ 52.3%€16,838▲ 56.4%€59,316▲ 252%
Staff (FTE)
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 534% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €167,129
Fixed assets
€14,353 ▲ 3,854%
Current assets
€152,776 ▲ 166%
Equity and liabilities €167,129
Equity
€66,744 ▲ 294%
Debt
€100,385 ▲ 146%
Debt's share of the balance-sheet total falls from 70.7% to 60.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€68,073
Cash flow
€55,260
Current ratio
1.63▲
2024 · 1.41
Debt to equity
1.50▼
2024 · 2.41
ROE
74.6%▲
2024 · 47.6%
ROA
29.8%▲
2024 · 14.0%
Interest coverage
16.59
Debt ≤ 1 year
€93,460▲
2024 · €40,604
Debt > 1 year
€6,305
Income taxes
€11,020
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €140 | €146 | €160 | €163 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,707 | - | €1,444 | - | €5,470 | - |
| Other operating charges640/8 | €5,520 | €1,007 | €975 | €876 | €1,429 | ▲ 63.2% |
| Non-recurring operating charges66A | €591 | - | - | - | - | - |
| Gross operating margin9900 | €14,381 | -€31,284 | €6,858 | €10,916 | €69,502 | ▲ 537% |
| Operating profit (loss)9901 | €4,422 | -€32,437 | €4,280 | €9,877 | €62,602 | ▲ 534% |
| Financial income75/76B | - | €0 | €2 | - | €2,312 | - |
| Recurring financial income75 | - | €0 | €2 | - | €2,312 | - |
| Financial charges65/66B | €3,860 | €2,096 | €1,415 | €1,800 | €4,104 | ▲ 128% |
| Recurring financial charges65 | €3,860 | €2,096 | €1,415 | €1,800 | €4,104 | ▲ 128% |
| Profit (loss) for the period before taxes9903 | €562 | -€34,533 | €2,866 | €8,077 | €60,810 | ▲ 653% |
| Income taxes67/77 | - | - | - | - | €11,020 | - |
| Profit (loss) for the period9904 | €562 | -€34,533 | €2,866 | €8,077 | €49,790 | ▲ 516% |
| Profit (loss) for the period to be appropriated9905 | €562 | -€34,533 | €2,866 | €8,077 | €49,790 | ▲ 516% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €87,399 | €66,808 | €47,236 | €57,805 | €167,129 | ▲ 189% |
| Fixed assets21/28 | €363 | €363 | €6,500 | €363 | €14,353 | ▲ 3,854% |
| Tangible fixed assets22/27 | - | - | €6,137 | - | €13,990 | - |
| Furniture and vehicles24 | - | - | €6,137 | - | €13,990 | - |
| Financial fixed assets28 | €363 | €363 | €363 | €363 | €363 | = |
| Current assets29/58 | €87,036 | €66,445 | €40,736 | €57,442 | €152,776 | ▲ 166% |
| Amounts receivable within one year40/41 | €64,844 | €48,935 | €32,293 | €49,223 | €129,027 | ▲ 162% |
| Trade receivables40 | €47,253 | €36,631 | €17,357 | €24,280 | €77,060 | ▲ 217% |
| Other amounts receivable41 | €17,592 | €12,304 | €14,936 | €24,943 | €51,967 | ▲ 108% |
| Cash at bank and in hand54/58 | €20,550 | €16,935 | €7,321 | €7,983 | €18,538 | ▲ 132% |
| Deferred charges and accrued income490/1 | €1,642 | €575 | €1,123 | €237 | €5,211 | ▲ 2,101% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €87,399 | €66,808 | €47,236 | €57,805 | €167,129 | ▲ 189% |
| Equity10/15 | €40,544 | €6,011 | €8,877 | €16,954 | €66,744 | ▲ 294% |
| Contributions10/11 | €6,800 | €6,800 | €6,800 | €6,800 | €6,800 | = |
| Outside capital11 | €6,800 | €6,800 | €6,800 | €6,800 | €6,800 | = |
| Other1109/19 | €6,800 | €6,800 | €6,800 | €6,800 | €6,800 | = |
| Reserves13 | €26,860 | €26,860 | €26,860 | €26,860 | €59,860 | ▲ 123% |
| 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 | €25,000 | €25,000 | €25,000 | €25,000 | €58,000 | ▲ 132% |
| Profit (loss) carried forward14 | €6,884 | -€27,649 | -€24,783 | -€16,706 | €84 | ▲ 101% |
| Amounts payable17/49 | €46,855 | €60,797 | €38,359 | €40,851 | €100,385 | ▲ 146% |
| Amounts payable after more than one year17 | €24,570 | €16,575 | €8,386 | - | €6,305 | - |
| Financial debts170/4 | €24,570 | €16,575 | €8,386 | - | €6,305 | - |
| Amounts payable within one year42/48 | €20,912 | €43,874 | €29,973 | €40,604 | €93,460 | ▲ 130% |
| Current portion of amounts payable after more than one year42 | €10,833 | €7,996 | €8,189 | €8,386 | €5,120 | ▼ 39.0% |
| Financial debts43 | €10 | €14 | €14 | €14 | €32 | ▲ 132% |
| Credit institutions430/8 | €10 | €14 | €14 | €14 | €32 | ▲ 132% |
| Trade debts44 | €8,375 | €33,170 | €21,020 | €30,058 | €78,691 | ▲ 162% |
| Suppliers440/4 | €8,375 | €33,170 | €21,020 | €30,058 | €78,691 | ▲ 162% |
| Taxes, remuneration and social security45 | €1,695 | €2,695 | €751 | €2,147 | €9,618 | ▲ 348% |
| Taxes450/3 | €692 | €692 | €751 | €1,144 | €9,618 | ▲ 741% |
| Remuneration and social security454/9 | €1,003 | €2,003 | - | €1,003 | - | - |
| Accrued charges and deferred income492/3 | €1,373 | €348 | - | €247 | €620 | ▲ 151% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €562 | -€34,533 | €2,866 | €8,077 | €49,790 | ▲ 516% |
| + Depreciation and write-downs630 | €3,707 | - | €1,444 | - | €5,470 | - |
| Operating cash flow (approximation) | €4,269 | -€34,533 | €4,310 | €8,077 | €55,260 | ▲ 584% |
| Investment in fixed assets (approximation) | - | €0 | -€7,580 | €6,137 | -€19,460 | ▼ 417% |
| Change in cash | - | -€3,615 | -€9,614 | €662 | €10,555 | ▲ 1,494% |
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
30-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 30 days late
2025
15-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 15 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Back to profitnet €2,866
Net result €2,866 after one loss-making year.
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 32 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
31-12
Financial
Back to profitnet €77,370
Net result €77,370 after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 1.35
Current ratio from 0.59 to 1.35; short-term debt falls from €121,275 to €110,379.
20-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 20 days late
2018
16-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 16 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Vorst · 1 establishment unit since 2002
Ground area
44 m²
Parcel 21007A0004/00Z009, Brussels. Linked by address, not a title deed.
1 establishment unit
HLP CONSTRUCT
since 20022.115.044.319
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21007A0004/00Z009 | Brussels | 44 m² | - | - |
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 9,534 companies in sector 43222 we hold annual accounts for 5,666. 4,751 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
Founded02-09-2002
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
24200Manufacture of basic metals
Scores and ratios are computed by Checked and are not a credit decision.