HNF
ActiveSummary
The computed 12-month bankruptcy probability of HNF is 1.9% (moderate). The 2025 annual accounts show equity of €18,188 and a net result of €5,633. Equity is growing by ~9.7% per year across the filed fiscal years. Its solvency ranks better than 24% of 4718 sector peers (fiscal year 2025). The company has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability74▲+74
Solvency38▼-46
Growth85▲+17
Track record100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity tight (current ratio 1.09 against 1.55 in 2024; short-term debt: 87% and cash: 11.1% of total assets), and 87% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
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 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% 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
13%
Return on assets
4%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 4718 sector peers (2025).
NBB · sector comparisonPosition among 4718 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 04-08-2026, 4 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
4 d late
2024
23 d late
2023
26 d late
2022
17 d late
2021
19 d late
2020
24 d late
2019
29 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 20 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 49% 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. Usually files around 19 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€66,201▲ 32.0%
2022 · €50,135
EBIT margin
1.7%▼ 16.2pp
2022 · 17.9%
Net result
€5,633
2024 · -€14,838
Working capital
€11,411▲ 140%
2024 · €4,757
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, 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
Turnover€50,135€66,201▲ 32.0%
Operating result€6,405▲ 48.5%€8,966▲ 40.0%€1,129▼ 87.4%-€14,134€5,869
Net result€6,136within the sector's middle half▲ 53.0%€8,603within the sector's middle half▲ 40.2%€726within the sector's middle half▼ 91.6%-€14,838below the sector's middle half€5,633within the sector's middle half
EBIT margin17.9%1.7%▼ 16.2pp
Equity€18,063within the sector's middle half▲ 51.4%€26,666within the sector's middle half▲ 47.6%€27,393within the sector's middle half▲ 2.7%€12,555within the sector's middle half▼ 54.2%€18,188within the sector's middle half▲ 44.9%
Total assets€22,760below the sector's middle half▲ 24.9%€27,951below the sector's middle half▲ 22.8%€31,136below the sector's middle half▲ 11.4%€21,173below the sector's middle half▼ 32.0%€140,076within the sector's middle half▲ 562%
Debt€4,697▼ 25.4%€1,285▼ 72.6%€3,744▲ 191%€8,618▲ 130%€121,888▲ 1,314%
Working capital€9,337within the sector's middle half▲ 23.0%€10,453within the sector's middle half▲ 12.0%€20,322within the sector's middle half▲ 94.4%€4,757within the sector's middle half▼ 76.6%€11,411within the sector's middle half▲ 140%
Solvency79.4%above the sector's middle half▲ 13.9pp95.4%above the sector's middle half▲ 16.0pp88.0%above the sector's middle half▼ 7.4pp59.3%within the sector's middle half▼ 28.7pp13.0%below the sector's middle half▼ 46.3pp
Current ratio2.99above the sector's middle half▲ 0.789.13above the sector's middle half▲ 6.156.43above the sector's middle half▼ 2.711.55within the sector's middle half▼ 4.881.09within the sector's middle half▼ 0.46
Return on assets (ROA)27.0%above the sector's middle half▲ 5.0pp30.8%above the sector's middle half▲ 3.8pp2.3%within the sector's middle half▼ 28.4pp-70.1%below the sector's middle half▼ 72.4pp4.0%within the sector's middle half▲ 74.1pp
Staff (FTE)21
above
within
below
the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €5,869 after a loss of €14,134 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €140,076
Fixed assets
€6,777 ▼ 13.1%
Current assets
€133,299 ▲ 897%
Equity and liabilities €140,076
Equity
€18,188 ▲ 44.9%
Debt
€121,888 ▲ 1,314%
Debt's share of the balance-sheet total rises from 40.7% to 87.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€8,090▲
2024 · -€13,048
Cash flow
€7,854▲
2024 · -€13,752
Debt to equity
6.70▲
2024 · 0.69
ROE
31.0%▲
2024 · -118.2%
Interest coverage
34.14▲
2024 · -53.54
Debt ≤ 1 year
€121,888▲
2024 · €8,618
Staff costs
€8,781▼
2024 · €34,323
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,508 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 97% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.4%
went bankrupt
1.6%
stopped otherwise
97%
still going
For this company itself Checked computes a higher bankruptcy probability: 1.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 4,508 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 |
|---|---|---|---|---|---|---|
| Turnover70 | - | €50,135 | €66,201 | - | - | - |
| Non-recurring operating income76A | €19,750 | €9,000 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €20,570 | €26,874 | - | - | - |
| Remuneration, social security and pensions62 | €14,749 | €15,487 | €29,099 | €34,323 | €8,781 | ▼ 74.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,774 | €4,261 | €3,916 | €1,086 | €2,221 | ▲ 104% |
| Other operating charges640/8 | €1,183 | €851 | €1,307 | €976 | €1,807 | ▲ 85.1% |
| Non-recurring operating charges66A | €3,511 | - | €3,877 | €4,971 | - | - |
| Gross operating margin9900 | €27,622 | €29,565 | €39,327 | €27,221 | €18,678 | ▼ 31.4% |
| Operating profit (loss)9901 | €6,405 | €8,966 | €1,129 | -€14,134 | €5,869 | ▲ 142% |
| Financial income75/76B | €2 | - | - | - | €1 | - |
| Recurring financial income75 | €2 | - | - | - | €1 | - |
| Non-recurring financial income76B | €0 | - | - | - | - | - |
| Financial charges65/66B | €271 | €363 | €402 | €244 | €237 | ▼ 2.7% |
| Recurring financial charges65 | €271 | €363 | €402 | €244 | €237 | ▼ 2.7% |
| Profit (loss) for the period before taxes9903 | €6,136 | €8,603 | €726 | -€14,378 | €5,633 | ▲ 139% |
| Income taxes67/77 | - | - | - | €460 | - | - |
| Profit (loss) for the period9904 | €6,136 | €8,603 | €726 | -€14,838 | €5,633 | ▲ 138% |
| Profit (loss) for the period to be appropriated9905 | €6,136 | €8,603 | €726 | -€14,838 | €5,633 | ▲ 138% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €22,760 | €27,951 | €31,136 | €21,173 | €140,076 | ▲ 562% |
| Fixed assets21/28 | €8,726 | €16,213 | €7,071 | €7,798 | €6,777 | ▼ 13.1% |
| Tangible fixed assets22/27 | €8,726 | €16,213 | €7,071 | €7,798 | €5,577 | ▼ 28.5% |
| Furniture and vehicles24 | €8,726 | €16,213 | €7,071 | €7,798 | €5,577 | ▼ 28.5% |
| Financial fixed assets28 | - | - | - | - | €1,200 | - |
| Current assets29/58 | €14,033 | €11,739 | €24,066 | €13,375 | €133,299 | ▲ 897% |
| Amounts receivable within one year40/41 | €449 | €140 | - | €1,985 | €117,714 | ▲ 5,832% |
| Trade receivables40 | - | - | - | - | €115,856 | - |
| Other amounts receivable41 | €449 | €140 | - | €1,985 | €1,858 | ▼ 6.4% |
| Cash at bank and in hand54/58 | €13,584 | €10,886 | €24,066 | €10,815 | €15,585 | ▲ 44.1% |
| Deferred charges and accrued income490/1 | - | €712 | - | €575 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €22,760 | €27,951 | €31,136 | €21,173 | €140,076 | ▲ 562% |
| Equity10/15 | €18,063 | €26,666 | €27,393 | €12,555 | €18,188 | ▲ 44.9% |
| Contributions10/11 | €16,500 | €16,500 | €16,500 | €16,500 | €16,500 | = |
| Profit (loss) carried forward14 | €1,563 | €10,166 | €10,893 | -€3,945 | €1,688 | ▲ 143% |
| Amounts payable17/49 | €4,697 | €1,285 | €3,744 | €8,618 | €121,888 | ▲ 1,314% |
| Amounts payable within one year42/48 | €4,697 | €1,285 | €3,744 | €8,618 | €121,888 | ▲ 1,314% |
| Trade debts44 | €251 | €7 | €509 | €75 | - | - |
| Suppliers440/4 | €251 | €7 | €509 | €75 | - | - |
| Advances received on contracts in progress46 | - | - | - | - | €119,427 | - |
| Taxes, remuneration and social security45 | €3,349 | €1,241 | €3,198 | €748 | €2,302 | ▲ 208% |
| Taxes450/3 | €8 | - | €25 | - | - | - |
| Remuneration and social security454/9 | €3,341 | €1,241 | €3,173 | €748 | €2,302 | ▲ 208% |
| Other amounts payable47/48 | €1,097 | €37 | €37 | €7,795 | €159 | ▼ 98.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,136 | €8,603 | €726 | -€14,838 | €5,633 | ▲ 138% |
| + Depreciation and write-downs630 | €1,774 | €4,261 | €3,916 | €1,086 | €2,221 | ▲ 104% |
| Operating cash flow (approximation) | €7,910 | €12,865 | €4,642 | -€13,752 | €7,854 | ▲ 157% |
| Investment in fixed assets (approximation) | - | -€11,748 | €5,227 | -€1,814 | -€1,200 | ▲ 33.8% |
| Change in cash | - | -€2,698 | €13,179 | -€13,250 | €4,770 | ▲ 136% |
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
04-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 4 days late
2025
31-12
Financial
Back to profitnet €5,633
Net result €5,633 after one loss-making year.
23-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 23 days late
2024
31-12
Financial
Weakest financial yearnet -€14,838
Net result drops to -€14,838, the lowest in the series; recovery starts the following year.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
17-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 17 days late
2022
31-12
Financial
Highest result since 2018net €8,603 ▲40.2%
Operating result €8,966, net result €8,603, both a record.
31-12
Financial
Liquidity triplescurrent ratio 9.13
Current ratio from 2.99 to 9.13; short-term debt falls from €4,697 to €1,285.
19-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 19 days late
2021
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 24 days late
2020
31-12
Financial
Back to profitnet €4,011
Net result €4,011 after 2 loss-making years.
29-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 29 days late
Show earlier events
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
21-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 21 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Schaarbeek · 1 establishment unit since 2009
Ground area
382 m²
Building footprint
374 m²
Volume, LiDAR
7,009 m³
Parcel 21903B0201/00C002, Brussels · tallest building 22.2 m, ±6 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
H.N.F
since 20092.175.647.246
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21903B0201/00C002 | Brussels | 382 m² | 1 · 374 m² | 22.2 m · 6 fl. |
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 6,683 companies in sector 49330 we hold annual accounts for 2,302. 1,991 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
Founded03-07-2008
Fiscal year end31-12
Activities, NACEBEL 2025
49320Non-scheduled passenger transport by road
49330On-demand passenger transport by chauffeured vehicle
49410Freight transport by road
52210Service activities incidental to land transportation
53200Other postal and courier activities
53300Postal and courier activities
86920Human health activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0899002730
Also
9925:BE0899002730
Registered
23-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.