Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of HMD is 4.4% (elevated). The 2025 annual accounts show equity of €9k and a net result of €-12k. Equity is shrinking by ~14.7% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 49% of 1106 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 3 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone4.4%
Elevated
0%0,5%1,5%4%10%≥25%
Higher-failure-rate sector
+Young company
+Annual accounts: weaker financial profile
+
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Filing behaviour
From the deposit records, complete market-wideLatest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-06-2026, 44 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.
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.
How we compute the deadline
The year end is derived from 3 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2025, that is 31-07-2026.
Deadline per financial year
| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 31-12-2025 | 31-07-2026 | 17-06-2026 | 44 d early | 2026-00168982 |
| 31-12-2022 | 31-07-2023 | 15-12-2023 | 137 d late | 2023-00528514 |
| 31-12-2021 | 31-07-2022 | 26-07-2023 | 360 d late | 2023-00270578 |
Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
2 signalsMore than 3 years active
Founded in 2020, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Financials
TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€-12k
Working capital€-26k
Annual accounts & ratios
Source: NBB · 2025Annual accounts filed on 17-06-2026 with the NBB · fiscal year 2025 · micro
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Net result: declining trend of ~67.5%/year over 3 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 56, Food & beverage service · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 24.2% | 25.6% | |
| Net result | €-12k | €7k | |
| Equity | €9k | €22k | |
| Gross operating margin | €559 | €63k | |
| Staff costs | €6k | €51k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P49
Weakening position over 2021-2025
· n=1106-3686
P16
Weakening position over 2021-2025
· n=1108-3667
P36
Weakening position over 2021-2025
· n=1110-3692
P10
Weakening position over 2021-2025
· n=1104-3652
Describes the position versus peers, not a forecast.
€-6k
-
21-25
€-12k
-
21-25
€-6k
-
21-25
€39k
+13.2%
21-25
€9k
-72.6%
21-25
€-26k
-
21-25
€6k
-
21-25
€141
-
21-25
Show 9 other metrics
€29k
+745.9%
21-25
€29k
+745.9%
21-25
0.12
-98.4%
21-25
0.12
-98.4%
21-25
24.2%
-75.8%
21-25
3.14
+1947.1%
21-25
-126.7%
-
21-25
-30.6%
-
21-25
-22.41
-
21-25
Figures by fiscal year
| Fiscal year | 2025 |
|---|---|
| Deposit | micro |
| Revenue | - |
| EBITDA | €-6k |
| Net profit | €-12k |
| Cash flow | €-6k |
| Staff costs | €6k |
| Income taxes | €141 |
| Dividends | - |
| Total assets | €39k |
| Equity | €9k |
| Debt | €29k |
| of which ≤ 1y | €29k |
| of which > 1y | - |
| Working capital | €-26k |
| Employees (FTE) | - |
Ratios (computed)
| 2025 | |
|---|---|
| Current ratio | 0.12 |
| Quick ratio | 0.12 |
| Working capital ratio | -66.5% |
| Solvency | 24.2% |
| Debt / equity | 3.14 |
| Long-term debt ratio | - |
| Interest coverage | -22.41 |
| Gross margin | - |
| Net margin | - |
| ROA | -30.6% |
| ROE | -126.7% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2025
Full annual accounts (22 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €39k |
| Fixed assets | 21/28 | €35k |
| Intangible fixed assets | 21 | €20k |
| Tangible fixed assets | 22/27 | €11k |
| Financial fixed assets | 28 | €4k |
| Current assets | 29/58 | €4k |
| Amounts receivable within one year | 40/41 | €4k |
| Cash & bank | 54/58 | €5 |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €39k |
| Equity | 10/15 | €9k |
| Contributions / capital | 10/11 | €10k |
| Accumulated profits (losses) | 14 | €-646 |
| Amounts payable | 17/49 | €29k |
| Amounts payable within one year | 42/48 | €29k |
| Trade debts payable within one year | 44 | €28k |
| Income statement | ||
| Gross operating margin | 9900 | €559 |
| Operating result | 9901 | €-11k |
| Financial charges | 65 | €247 |
| Result before taxes | 9903 | €-12k |
| Income taxes | 67/77 | €141 |
| Net result for the period | 9904 | €-12k |
| Result to be appropriated | 9905 | €-12k |
This table shows the latest fiscal year. 2 prior years, with figures and ratios, belong to a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2025 · computed2
/ 100
Critical
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.
See plans →Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Directors
Directors & mandates
4 directors5 of this company's 5 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing below: a director who resigned there may therefore still show here as sitting. See the acts under Publications.
Current directors & mandates
-
Current01-01-2026 → present
-
Current01-01-2022 → present
Former directors (2)
-
Former- → 01-01-2026
-
Former- → 31-12-2021
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Activiteiten van eetgelegenheden met volledige bediening(56111) |
| Legal form | Private limited company(610) |
| Incorporation | 28-02-2020 |
| Status | Active |
| Postal code | 2600 |
Structure & network
Locations & real estate
Registered office
on the map · from the address registerEstablishment units
1 locationHMD
since 20262.382.624.658
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area89 m²
Buildings1
Building footprint88 m²
Volume (LiDAR)692 m³
Tallest building10.6 m · ±3 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11003B0042/00C005 | Flanders | 89 m² | 1 · 88 m² | 10.6 m · 3 fl. |
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
5 acts Address history · 1
25-11-2022
v3.2
All acts · 5
updated 6 months ago
2026
11-02-2026 1 director appointed, 1 resigning
- Salam A Al-Badri Hashim, Bestuurder
- Safaa H Hamid Mohanad, Bestuurder
Summary:
v3.2
2025
02-05-2025 Change in the board of directors
Summary:
v3.2
2022
25-11-2022 Registered office moved within Antwerpen
- Statiestraat 23, 2600 Antwerpen → Driekoningenstraat 108, 2600 Antwerpen
Summary:
v3.2
31-01-2022 1 director appointed, 1 resigning
2020
03-03-2020 Incorporation of a new BV
Summary:
oprichting
Analysis
Financial profile
5 of 5 axes measured32
/ 100
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
Health
2
Profitability
0
Solvency
24
Growth
32
Stability
100
Credit advice
verdict per customer and amountSimilar
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We hold annual accounts for 2,989 of the 20,302 companies in this sector. 2,226 of them are within a factor 10 of this company's equity.
Company registry
Company registry (CBE)
Crossroads BankActivities
Eetgelegenheden met beperkte bediening56102Activiteiten van eetgelegenheden met volledige bediening56111Activiteiten van eetgelegenheden met beperkte bediening, muv mobiele eetgelegenheden56112
Primary activity highlighted.
Names & trade names
| Legal nameNL | HMD |
Registered office
Statiestraat 23
2600 Antwerpen, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.