HONESTY EXPLOITATION
InactiveInactive; last annual accounts for fiscal year 2024. Dissolved without liquidation.
Signals
1 signal. The signal on the left, the evidence on the right.
+raises risk
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 05-12-2025, 127 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 6 filingsDeviation from the deadline
2024
127 d late
2023
2 d early
2022
92 d late
2021
29 d late
2020
53 d late
2019
55 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
€3.29M▲ 26.2%
2020 · €2.61M
2020: €2.61M
2021: €3.29M▲ +26.2% vs 2020
2020 → 2021
EBIT margin
11.8%▼ 0.3pp
2020 · 12.1%
2020: 12.1%
2021: 11.8%▼ -2.4% vs 2020
2020 → 2021
Net result
€-245k
2023 · €392k
2020: €235k
2021: €289k▲ +23.1% vs 2020
2022: €420k▲ +45.3% vs 2021highest in 5 years
2023: €392k▼ -6.4% vs 2022
2024: €-245k▼ -162% vs 2023lowest in 5 years
2020 → 2024
Working capital
€1.02M▼ 15.3%
2023 · €1.21M
2020: €321klowest in 5 years
2021: €449k▲ +40.2% vs 2020
2022: €691k▲ +53.9% vs 2021
2023: €1.21M▲ +74.5% vs 2022highest in 5 years
2024: €1.02M▼ -15.3% vs 2023
2020 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€2.61M-€3.29M▲ 26.2%
2020: €2.61M
2021: €3.29M▲ +26.2% vs 2020
Equity€440k-€669k▲ 52.0%€1.09M▲ 62.7%€1.48M▲ 36.1%€1.24M▼ 16.5%
2020: €440klowest in 5 years
2021: €669k▲ +52.0% vs 2020
2022: €1.09M▲ +62.7% vs 2021
2023: €1.48M▲ +36.1% vs 2022highest in 5 years
2024: €1.24M▼ -16.5% vs 2023
Operating result€315k-€388k▲ 23.1%€568k▲ 46.4%€532k▼ 6.3%€-273k
2020: €315k
2021: €388k▲ +23.1% vs 2020
2022: €568k▲ +46.4% vs 2021highest in 5 years
2023: €532k▼ -6.3% vs 2022
2024: €-273k▼ -151% vs 2023lowest in 5 years
Net result€235k-€289k▲ 23.1%€420k▲ 45.3%€392k▼ 6.4%€-245k
2020: €235k
2021: €289k▲ +23.1% vs 2020
2022: €420k▲ +45.3% vs 2021highest in 5 years
2023: €392k▼ -6.4% vs 2022
2024: €-245k▼ -162% vs 2023lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €273k after €532k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.51M
Fixed assets
€266k ▼ 17.4%
Current assets
€2.24M ▲ 2.3%
Equity and liabilities €2.51M
Equity
€1.24M ▼ 16.5%
Provisions
€6k ▼ 18.8%
Debt
€1.26M ▲ 23.5%
Debt's share of the balance-sheet total rises from 40.8% to 50.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-166k▼
2023 · €669k
Cash flow
€-138k▼
2023 · €530k
Current ratio
1.84▼
2023 · 2.23
Debt to equity
1.02▲
2023 · 0.69
ROE
-19.8%▼
2023 · 26.5%
ROA
-9.8%▼
2023 · 15.6%
Interest coverage
-31.02▼
2023 · 123.80
Debt ≤ 1 year
€1.22M▲
2023 · €982k
Income taxes
€2k▼
2023 · €159k
Staff costs
€1.34M▲
2023 · €1.27M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 59 lines
Balance sheet
Code20232024
Assets
Total assets20/58€2.51M€2.51M▼
Fixed assets21/28€323k€266k▼
Intangible fixed assets21€9k€4k▼
Tangible fixed assets22/27€308k€256k▼
Land and buildings22€136k€118k▼
Plant, machinery and equipment23€58k€46k▼
Furniture and vehicles24€114k€92k▼
Financial fixed assets28€6k€6k=
Current assets29/58€2.19M€2.24M▲
Amounts receivable within one year40/41€351k€1.94M▲
Trade receivables40€275k€485k▲
Other amounts receivable41€77k€1.46M▲
Cash at bank and in hand54/58€1.77M€278k▼
Deferred charges and accrued income490/1€64k€17k▼
Equity and liabilities
Total equity and liabilities10/49€2.51M€2.51M▼
Equity10/15€1.48M€1.24M▼
Contributions10/11€8k€8k=
Reserves13€39k€35k▼
Non-distributable reserves130/1€765€765=
Reserves not available under the articles1311€765€765=
Tax-exempt reserves132€38k€34k▼
Profit (loss) carried forward14€1.43M€1.19M▼
Provisions and deferred taxes16€7k€6k▼
Deferred taxes168€7k€6k▼
Amounts payable17/49€1.02M€1.26M▲
Amounts payable after more than one year17€17k-
Financial debts170/4€17k-
Amounts payable within one year42/48€982k€1.22M▲
Current portion of amounts payable after more than one year42€30k€17k▼
Trade debts44€215k€213k▼
Suppliers440/4€215k€213k▼
Advances received on contracts in progress46€385k€9k▼
Taxes, remuneration and social security45€352k€129k▼
Taxes450/3€180k€47k▼
Remuneration and social security454/9€172k€82k▼
Other amounts payable47/48€826€849k▲
Accrued charges and deferred income492/3€24k€47k▲
Income statement
Code20232024
Non-recurring operating income76A€33k-
Goods, raw materials, services and sundry goods60/61€2.37M-
Remuneration, social security and pensions62€1.27M€1.34M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€137k€107k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€26k-
Other operating charges640/8€32k€17k▼
Non-recurring operating charges66A€17k€2k▼
Gross operating margin9900€2.02M€1.20M▼
Operating profit (loss)9901€532k€-273k▼
Financial income75/76B€24k€34k▲
Recurring financial income75€24k€34k▲
Financial charges65/66B€5k€5k▼
Recurring financial charges65€5k€5k▼
Profit (loss) for the period before taxes9903€551k€-244k▼
Transfer from deferred taxes780€577€1k▲
Income taxes67/77€159k€2k▼
Profit (loss) for the period9904€392k€-245k▼
Transfer from tax-exempt reserves789€2k€4k▲
Profit (loss) for the period to be appropriated9905€394k€-241k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.43M€1.19M▼
Profit (loss) brought forward from the previous period14P€1.04M€1.43M▲
Social balance
Average headcount (FTE)908722.622.7▲
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €2.61M | €3.29M | - | - | - | - |
| Non-recurring operating income76A | - | €5k | - | €33k | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €1.81M | €2.24M | €2.37M | - | - |
| Remuneration, social security and pensions62 | - | €1.14M | €1.45M | €1.27M | €1.34M | ▲ 5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €93k | €95k | €129k | €137k | €107k | ▼ 22.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €-2k | €26k | - | - |
| Other operating charges640/8 | - | €27k | €46k | €32k | €17k | ▼ 45.1% |
| Non-recurring operating charges66A | - | €9k | €7k | €17k | €2k | ▼ 89.2% |
| Gross operating margin9900 | €1.27M | €1.66M | €2.20M | €2.02M | €1.20M | ▼ 40.8% |
| Operating profit (loss)9901 | €315k | €388k | €568k | €532k | €-273k | ▼ 151% |
| Financial income75/76B | - | €13k | €3k | €24k | €34k | ▲ 43.7% |
| Recurring financial income75 | €10k | €13k | €3k | €24k | €34k | ▲ 43.7% |
| Financial charges65/66B | - | €3k | €3k | €5k | €5k | ▼ 1.1% |
| Recurring financial charges65 | €2k | €3k | €3k | €5k | €5k | ▼ 1.1% |
| Profit (loss) for the period before taxes9903 | €318k | €399k | €568k | €551k | €-244k | ▼ 144% |
| Transfer from deferred taxes780 | - | - | €200 | €577 | €1k | ▲ 125% |
| Transfer to deferred taxes680 | - | €8k | - | - | - | - |
| Income taxes67/77 | €83k | €102k | €148k | €159k | €2k | ▼ 98.5% |
| Profit (loss) for the period9904 | €235k | €289k | €420k | €392k | €-245k | ▼ 162% |
| Transfer from tax-exempt reserves789 | - | - | €599 | €2k | €4k | ▲ 125% |
| Transfer to tax-exempt reserves689 | - | €23k | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €235k | €266k | €420k | €394k | €-241k | ▼ 161% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.92M | €2.20M | €2.47M | €2.51M | €2.51M | ▼ 0.2% |
| Fixed assets21/28 | €179k | €271k | €436k | €323k | €266k | ▼ 17.4% |
| Intangible fixed assets21 | €31k | €41k | €26k | €9k | €4k | ▼ 53.7% |
| Tangible fixed assets22/27 | €144k | €223k | €400k | €308k | €256k | ▼ 16.7% |
| Land and buildings22 | - | €34k | €154k | €136k | €118k | ▼ 13.5% |
| Plant, machinery and equipment23 | - | €15k | €44k | €58k | €46k | ▼ 19.9% |
| Furniture and vehicles24 | - | €174k | €202k | €114k | €92k | ▼ 19.1% |
| Financial fixed assets28 | €4k | €7k | €9k | €6k | €6k | = |
| Current assets29/58 | €1.74M | €1.93M | €2.03M | €2.19M | €2.24M | ▲ 2.3% |
| Amounts receivable within one year40/41 | €210k | €429k | €292k | €351k | €1.94M | ▲ 453% |
| Trade receivables40 | - | €274k | €227k | €275k | €485k | ▲ 76.7% |
| Other amounts receivable41 | - | €155k | €65k | €77k | €1.46M | ▲ 1,801% |
| Cash at bank and in hand54/58 | €1.49M | €1.43M | €1.71M | €1.77M | €278k | ▼ 84.3% |
| Deferred charges and accrued income490/1 | - | €69k | €31k | €64k | €17k | ▼ 73.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.92M | €2.20M | €2.47M | €2.51M | €2.51M | ▼ 0.2% |
| Equity10/15 | €440k | €669k | €1.09M | €1.48M | €1.24M | ▼ 16.5% |
| Contributions10/11 | - | €8k | €8k | €8k | €8k | = |
| Reserves13 | €18k | €41k | €41k | €39k | €35k | ▼ 10.0% |
| Non-distributable reserves130/1 | - | €765 | €765 | €765 | €765 | = |
| Reserves not available under the articles1311 | - | €765 | €765 | €765 | €765 | = |
| Tax-exempt reserves132 | - | €41k | €40k | €38k | €34k | ▼ 10.2% |
| Profit (loss) carried forward14 | €414k | €620k | €1.04M | €1.43M | €1.19M | ▼ 16.8% |
| Provisions and deferred taxes16 | - | €8k | €7k | €7k | €6k | ▼ 18.8% |
| Deferred taxes168 | - | €8k | €7k | €7k | €6k | ▼ 18.8% |
| Amounts payable17/49 | €1.48M | €1.52M | €1.37M | €1.02M | €1.26M | ▲ 23.5% |
| Amounts payable after more than one year17 | €39k | €44k | €31k | €17k | - | - |
| Financial debts170/4 | - | €44k | €31k | €17k | - | - |
| Amounts payable within one year42/48 | €1.42M | €1.48M | €1.34M | €982k | €1.22M | ▲ 23.9% |
| Current portion of amounts payable after more than one year42 | - | €54k | €51k | €30k | €17k | ▼ 44.4% |
| Trade debts44 | €385k | €196k | €188k | €215k | €213k | ▼ 0.8% |
| Suppliers440/4 | - | €196k | €188k | €215k | €213k | ▼ 0.8% |
| Advances received on contracts in progress46 | - | €933k | €636k | €385k | €9k | ▼ 97.5% |
| Taxes, remuneration and social security45 | - | €230k | €418k | €352k | €129k | ▼ 63.4% |
| Taxes450/3 | - | €83k | €137k | €180k | €47k | ▼ 74.1% |
| Remuneration and social security454/9 | - | €148k | €281k | €172k | €82k | ▼ 52.2% |
| Other amounts payable47/48 | - | €68k | €46k | €826 | €849k | ▲ 102,680% |
| Accrued charges and deferred income492/3 | - | €0 | €0 | €24k | €47k | ▲ 92.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €235k | €289k | €420k | €392k | €-245k | ▼ 162% |
| + Depreciation and write-downs630 | €93k | €95k | €129k | €137k | €107k | ▼ 22.1% |
| Operating cash flow (approximation) | €328k | €384k | €549k | €530k | €-138k | ▼ 126% |
| Investment in fixed assets (approximation) | - | €-187k | €-294k | €-24k | €-51k | ▼ 112% |
| Change in cash | - | €-56k | €276k | €66k | €-1.50M | ▼ 2,375% |
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
2026
13-01
State Gazette act
Restructuring · End & cessationMerger · Dissolution · Accounting effect10 facts ▸
State Gazette act
Restructuring · End & cessation
Merger · Dissolution · Accounting effect10 facts ▸
- General meeting, 24-12-2025
- Merger, absorption, vote de la fusion par la société absorbante
- Dissolution, sans liquidation
- Accounting effect, 01-01-2026
- Share cancellation, annulation des actions émises par la société absorbée
- Power of attorney, TREVI WALLONIE
- Ownership, détention de l'intégralité du capital
- No auditor report, absence de rapport de réviseur
- Fonds de commerce, fonds de commerce non grevé d'aucune inscription; aucun mandat hypothécaire conféré
- No share issuance, fusion sans création de nouvelles actions
2025
05-12
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 127 days late
2024
31-12
Financial
Weakest financial yearnet €-245k
Net result drops to €-245k, the lowest in the series.
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 92 days late
2022
31-12
Financial
Highest result since 2020net €420k ▲45.3%
Operating result €568k, net result €420k, both a record.
31-12
Financial
Equity above €1MEq €1.09M ▲62.7%
3 profitable years in a row build equity to €1.09M.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 29 days late
2021
31-12
Financial
Equity above €500kEq €669k ▲52%
2 profitable years in a row build equity to €669k.
22-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 53 days late
2020
24-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 55 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
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Structure & network
Acquisitions and mergers
1 transactionTaken over by:TREVI WALLONIE