HODECON
ActiveSummary
HODECON has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€40,014) and a net result of €47,220. Equity is shrinking by ~6.5% per year across the filed fiscal years. Its solvency ranks better than 9% of 18626 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+100
Solvency0=
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.37 against 0.31 in 2024; short-term debt: 203.8% and cash: 19% of total assets), and equity is negative.
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-103.8%
Return on assets
122.5%
Age of the figures
18 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 18626 sector peers (2025).
NBB · sector comparisonPosition among 18626 sector peers
Solvency
better than 9%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 31-10-2025, 0 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
on the day
2024
1 d early
2023
27 d late
2022
3 d late
2021
3 d early
2020
37 d late
2019
on the day
← 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 9 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today. Usually files around 31 October (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close29-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€40,014▲ 54.1%
2024 · -€87,234
Total assets
€38,549▼ 30.0%
2024 · €55,109
Net result
€47,220
2024 · -€28,049
Working capital
-€49,120▲ 50.1%
2024 · -€98,433
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Operating result€21,216▼ 13.9%-€29,483€2,315-€20,598€54,884
Net result€14,822within the sector's middle half▼ 20.7%-€32,761below the sector's middle half-€3,637within the sector's middle half▲ 88.9%-€28,049below the sector's middle half▼ 671%€47,220above the sector's middle half
Equity-€22,787below the sector's middle half▲ 39.4%-€55,547below the sector's middle half▼ 144%-€59,185below the sector's middle half▼ 6.5%-€87,234below the sector's middle half▼ 47.4%-€40,014below the sector's middle half▲ 54.1%
Total assets€48,085below the sector's middle half▼ 1.1%€66,876within the sector's middle half▲ 39.1%€68,912within the sector's middle half▲ 3.0%€55,109below the sector's middle half▼ 20.0%€38,549below the sector's middle half▼ 30.0%
Debt€70,872▼ 17.8%€122,423▲ 72.7%€128,097▲ 4.6%€142,343▲ 11.1%€78,563▼ 44.8%
Working capital-€37,326below the sector's middle half▲ 10.0%-€74,290below the sector's middle half▼ 99.0%-€74,199below the sector's middle half▲ 0.1%-€98,433below the sector's middle half▼ 32.7%-€49,120below the sector's middle half▲ 50.1%
Solvency-47.4%below the sector's middle half▲ 30.0pp-83.1%below the sector's middle half▼ 35.7pp-85.9%below the sector's middle half▼ 2.8pp-158.3%below the sector's middle half▼ 72.4pp-103.8%below the sector's middle half▲ 54.5pp
Current ratio0.26below the sector's middle half▲ 0.030.34below the sector's middle half▲ 0.080.42below the sector's middle half▲ 0.070.31below the sector's middle half▼ 0.110.37below the sector's middle half▲ 0.07
Return on assets (ROA)30.8%above the sector's middle half▼ 7.6pp-49.0%below the sector's middle half▼ 79.8pp-5.3%below the sector's middle half▲ 43.7pp-50.9%below the sector's middle half▼ 45.6pp122.5%above the sector's middle half▲ 173.4pp
Staff (FTE)0.411=1=
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, 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: €54,884 after a loss of €20,598 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €38,549
Fixed assets
€9,106 ▼ 18.7%
Current assets
€29,443 ▼ 32.9%
Key figures and ratios
EBITDA
€58,381▲
2024 · -€16,304
Cash flow
€50,717▲
2024 · -€23,756
Quick ratio
0.27▲
2024 · 0.24
Debt to equity
-1.96▼
2024 · -1.63
Interest coverage
7.62▲
2024 · -2.09
Debt ≤ 1 year
€78,563▼
2024 · €142,343
Staff costs
€30,372▼
2024 · €59,451
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,180 companies that looked in July 2024 the way this one looks now, 4.8% went bankrupt within 24 months and 89% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a profit of 5% of the balance sheet or more
4.8%
went bankrupt
5.8%
stopped otherwise
89%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 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% | 1.9% |
| 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 2,180 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €2,141 | €12,432 | - | - | - |
| Remuneration, social security and pensions62 | - | €50,577 | €63,682 | €59,451 | €30,372 | ▼ 48.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,022 | €9,653 | €6,855 | €4,294 | €3,497 | ▼ 18.6% |
| Other operating charges640/8 | - | €2,119 | €2,144 | €3,139 | €1,182 | ▼ 62.4% |
| Non-recurring operating charges66A | - | - | €3,864 | - | - | - |
| Gross operating margin9900 | €52,896 | €32,866 | €78,859 | €46,285 | €89,934 | ▲ 94.3% |
| Operating profit (loss)9901 | €21,216 | -€29,483 | €2,315 | -€20,598 | €54,884 | ▲ 366% |
| Financial income75/76B | - | €3,819 | €221 | €354 | - | - |
| Recurring financial income75 | €647 | €3,819 | €221 | €354 | - | - |
| Financial charges65/66B | - | €7,096 | €6,173 | €7,805 | €7,664 | ▼ 1.8% |
| Recurring financial charges65 | €7,041 | €7,096 | €6,173 | €7,805 | €7,664 | ▼ 1.8% |
| Profit (loss) for the period before taxes9903 | €14,822 | -€32,761 | -€3,637 | -€28,049 | €47,220 | ▲ 268% |
| Profit (loss) for the period9904 | €14,822 | -€32,761 | -€3,637 | -€28,049 | €47,220 | ▲ 268% |
| Profit (loss) for the period to be appropriated9905 | €14,822 | -€32,761 | -€3,637 | -€28,049 | €47,220 | ▲ 268% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €48,085 | €66,876 | €68,912 | €55,109 | €38,549 | ▼ 30.0% |
| Fixed assets21/28 | €34,873 | €27,982 | €15,542 | €11,199 | €9,106 | ▼ 18.7% |
| Intangible fixed assets21 | €1,710 | €1,350 | €990 | €630 | €270 | ▼ 57.1% |
| Tangible fixed assets22/27 | €32,381 | €25,851 | €13,771 | €9,837 | €8,105 | ▼ 17.6% |
| Plant, machinery and equipment23 | - | €25,432 | €13,033 | €9,837 | €6,721 | ▼ 31.7% |
| Furniture and vehicles24 | - | €419 | €738 | - | €1,384 | - |
| Financial fixed assets28 | €781 | €781 | €781 | €731 | €731 | = |
| Current assets29/58 | €13,212 | €38,893 | €53,370 | €43,910 | €29,443 | ▼ 32.9% |
| Stocks and contracts in progress3 | €6,972 | €3,022 | €5,645 | €9,247 | €8,587 | ▼ 7.1% |
| Stocks30/36 | - | €3,022 | €5,645 | €9,247 | €8,587 | ▼ 7.1% |
| Amounts receivable within one year40/41 | €5,443 | €32,173 | €45,491 | €34,261 | €12,924 | ▼ 62.3% |
| Trade receivables40 | - | €16,269 | €36,661 | €29,346 | €12,115 | ▼ 58.7% |
| Other amounts receivable41 | - | €15,904 | €8,831 | €4,915 | €809 | ▼ 83.5% |
| Cash at bank and in hand54/58 | €707 | €1,722 | €199 | €402 | €7,341 | ▲ 1,727% |
| Deferred charges and accrued income490/1 | - | €1,976 | €2,034 | - | €592 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €48,085 | €66,876 | €68,912 | €55,109 | €38,549 | ▼ 30.0% |
| Equity10/15 | -€22,787 | -€55,547 | -€59,185 | -€87,234 | -€40,014 | ▲ 54.1% |
| Contributions10/11 | - | €15,000 | €15,000 | €15,000 | €15,000 | = |
| Profit (loss) carried forward14 | -€37,787 | -€70,547 | -€74,185 | -€102,234 | -€55,014 | ▲ 46.2% |
| Amounts payable17/49 | €70,872 | €122,423 | €128,097 | €142,343 | €78,563 | ▼ 44.8% |
| Amounts payable after more than one year17 | €19,854 | €8,962 | €528 | - | - | - |
| Financial debts170/4 | - | €8,962 | €528 | - | - | - |
| Amounts payable within one year42/48 | €50,538 | €113,183 | €127,569 | €142,343 | €78,563 | ▼ 44.8% |
| Current portion of amounts payable after more than one year42 | - | €10,893 | €8,434 | - | - | - |
| Financial debts43 | - | €17 | €7,333 | €18,438 | - | - |
| Credit institutions430/8 | - | €17 | €7,333 | €18,438 | - | - |
| Trade debts44 | €27,742 | €92,394 | €101,286 | €116,599 | €70,243 | ▼ 39.8% |
| Suppliers440/4 | - | €92,394 | €101,286 | €116,599 | €70,243 | ▼ 39.8% |
| Taxes, remuneration and social security45 | - | €9,879 | €10,516 | €7,306 | €4,024 | ▼ 44.9% |
| Taxes450/3 | - | - | - | - | €695 | - |
| Remuneration and social security454/9 | - | €9,879 | €10,516 | €7,306 | €3,329 | ▼ 54.4% |
| Other amounts payable47/48 | - | - | - | - | €4,297 | - |
| Accrued charges and deferred income492/3 | - | €278 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,822 | -€32,761 | -€3,637 | -€28,049 | €47,220 | ▲ 268% |
| + Depreciation and write-downs630 | €10,022 | €9,653 | €6,855 | €4,294 | €3,497 | ▼ 18.6% |
| Operating cash flow (approximation) | €24,844 | -€23,108 | €3,218 | -€23,756 | €50,717 | ▲ 313% |
| Investment in fixed assets (approximation) | - | -€2,763 | €5,585 | €50 | -€1,404 | ▼ 2,908% |
| Change in cash | - | €1,015 | -€1,523 | €202 | €6,939 | ▲ 3,327% |
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
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Back to profitnet €47,220
Net result €47,220 after 3 loss-making years.
2024
30-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
27-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
2022
03-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 3 days late
31-03
Financial
Weakest financial yearnet -€32,761
Net result drops to -€32,761, the lowest in the series; recovery starts the following year.
2021
28-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
07-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 37 days late
31-03
Financial
Back to profitnet €18,691
Net result €18,691 after one loss-making year.
2019
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
09-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Gent · 1 establishment unit since 2016
Ground area
22 m²
Building footprint
22 m²
Volume, LiDAR
217 m³
Parcel 44082B0190/00N000, Flanders · tallest building 10.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
't Zwijntje
since 20162.257.788.430
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44082B0190/00N000 | Flanders | 22 m² | 1 · 22 m² | 10.9 m · 3 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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 2,000 EUR awarded · 2,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
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Destelbergen
This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 2,341 companies in sector 47621 we hold annual accounts for 1,245. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded17-10-2016
Fiscal year end31-03
Activities, NACEBEL 2025
47621Retail sale of newspapers and periodicals
56112Limited-service restaurants, excluding mobile food services
47279Other retail sale of food
E-invoicing
Reachable via Peppol
Peppol ID
0208:0664680622
Also
9925:BE0664680622
Registered
09-01-2026
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.