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Complete company report
Generated 17-07-2026
Active BE 0805.588.364Private limited company

Hônk-Tree

Kerkstraat 27 ·3080 Tervuren, Belgium· 2 yrs active
Conclusion Checked

The computed 12-month bankruptcy probability of Hônk-Tree is 3.5% (moderate). The 2025 annual accounts show negative equity (€-173k) and a net result of €-82k. Equity is shrinking by ~74.6% per year across the filed fiscal years. The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 3 annual accounts.
Key figures
Equity €-173k
Net result €-82k
Active 2 yrs
Board 1
Snowflake analysis 5 axes · computed by Checked
Health17Profitability100Solvency42Growth32Stability82
55 / 100

Mixed profile: strong on profitability, weaker on health.

Health 17
Profitability 100
Solvency 42
Growth 32
Stability 82
Bankruptcy probability (12 mo) Checked model v1 · free
3.5% Moderate
0%0,5%1,5%4%10%≥25%
Young company +No NACE activity registered +Annual accounts: weaker financial profile +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based
0 / 100
Low risk
Trust signals 3 signals
Young company
Founded in 2023, under 3 years, statistically higher risk.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad.
Administratively compliant
No FOD Economie strikeouts (UBO, accounts, address, activity).
Administrative Flags 0 events
No administrative flags
Health barometer FY 2025 · computed
17 / 100 Critical
050100

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Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.
Financial overview3 NBB filings
Annual accounts filed on 09-06-2026 with the NBB · fiscal year 2025 · verkort
€-100k€-75k€-50k€-25k€0Operating result 2023: €-54k€-54kNet result 2023: €-57k€-57kOperating result 2024: €-15k€-15kNet result 2024: €-53k€-53kOperating result 2025: €-21k€-21kNet result 2025: €-82k€-82k202320242025
Operating resultNet result
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining Equity: declining trend of ~74.6%/year over 3 fiscal years, indicative, assuming unchanged policy.
€-400k€-300k€-200k€-100k€02026: €-241k (€-255k - €-227k)2027: €-309k (€-322k - €-295k)2028: €-376k (€-390k - €-363k)2023: €-37k2024: €-91k2025: €-173k202320242025202620272028
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).

Net profit
€-82k
-53.5% 23-25
Total assets
€1.36M
+6.8% 23-25
Equity
€-173k
-90.3% 23-25
Working capital
€-173k
- 23-25
Employees (FTE)
0
- 23-25
Debt
€1.54M
+12.3% 23-25
Debt ≤ 1y
€1.54M
+355.2% 23-25
Debt > 1y
€0
-100.0% 23-25
Current ratio
0.89
-76.5% 23-25
Quick ratio
0.05
+10689.3% 23-25
Solvency
-12.7%
-78.2% 23-25
Debt / equity
-8.88
+41.0% 23-25
ROE
47.5%
-19.3% 23-25
ROA
-6.0%
-43.8% 23-25
Figures by fiscal year
Fiscal year2025
Revenue-
EBITDA-
Net profit€-82k
Cash flow-
Staff costs-
Income taxes-
Dividends-
Total assets€1.36M
Equity€-173k
Debt€1.54M
of which ≤ 1y€1.54M
of which > 1y€0
Working capital€-173k
Employees (FTE)0.0
Ratios (computed)
2025
Current ratio0.89
Quick ratio0.05
Working capital ratio-12.7%
Solvency-12.7%
Debt / equity-8.88
Long-term debt ratio0.00
Interest coverage-
Gross margin-
Net margin-
ROA-6.0%
ROE47.5%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2025
Balance sheet, Assets
TOTAL ASSETS 20/58€1.36M
Current assets 29/58€1.36M
Stocks & contracts in progress 3€1.29M
Amounts receivable within one year 40/41€72k
Cash & bank 54/58€5k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€1.36M
Equity 10/15€-173k
Contributions / capital 10/11€20k
Accumulated profits (losses) 14€-193k
Amounts payable 17/49€1.54M
Amounts payable after one year 17€0
Amounts payable within one year 42/48€1.54M
Trade debts payable within one year 44€3k
Income statement
Gross operating margin 9900€-15k
Operating result 9901€-21k
Financial income 75€0
Financial charges 65€61k
Result before taxes 9903€-82k
Net result for the period 9904€-82k
Result to be appropriated 9905€-82k
You're seeing the latest fiscal year only. Unlock 2 prior years (figures + ratios) with a paid plan. See plans →
Ratios computed by Checked.
Directors & mandates 1 directors
Current directors & mandates
  • VEGA RMLegal entity
    Director· perm. rep.: Rafaël Mertens
    State Gazette act 25165125 (31-12-2025)
    Current
    04-12-2025 → present
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.
Legal Structure
NACE primary -
Legal form Private limited company(610)
Incorporation07-09-2023
StatusActive
Postal code3080
Connections & network 4 connected companies
Group structure
VEGA RM
Parent · 1 subsidiary · 1 location
Control→
Network connections
Hônk-Vast
Shared address
→
Hônkers
Shared address
→
PARTEX
Shared address
→
Connections derived from shared directors, addresses, shareholders and group structure in the Belgian State Gazette.
Establishment units 1 location
Eeksken 69, 9920 Lievegem
Handel in eigen onroerend goed
since 20232.349.496.188
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Real-estate footprint Source: CBE × cadastre

Parcels 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 2 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
44036A0202/00B000 Flanders 884 m² 1 · 174 m² 8.2 m · 2 fl.
24302D0171/00B000 Flanders 565 m² 1 · 147 m² 14.0 m · 3 fl.
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates 6 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2026
09-06-2026
NBB filing Annual accounts filed
fiscal year 2025 · verkort
2025
31-12-2025
State Gazette act Capital & shares
v3.2
13-10-2025
State Gazette act Registered-office change
v3.2
01-09-2025
NBB filing Annual accounts filed
fiscal year 2024 · micro
2024
02-10-2024
NBB filing Annual accounts filed
fiscal year 2023 · micro
2023
11-09-2023
State Gazette act Incorporation
oprichting
Belgisch Staatsblad, acts 3 acts
Capital history · 1
31-12-2025
v3.2
Address history · 1
13-10-2025
v3.2
All acts · 3 updated 6 months ago
2025
31-12-2025 Transaction in capital or shares Capital & shares
Summary: v3.2
Technical details 
{
  "events": [],
  "schema": "v3.2",
  "act_meta": {
    "model_id": 36,
    "extractor": "constrained-core-35b"
  },
  "subject_company": {
    "kbo": "0805.588.364",
    "name_full": "HONK-TREE",
    "legal_form": "BV"
  }
}
13-10-2025 Registered office moved from Gent to Lievegem Registered-office change
  • Schaapherderstraat 8, 9032 Gent → Eeksken 69, 9920 Lievegem
Summary: v3.2
Technical details 
{
  "events": [
    {
      "kind": "zetel_transfer",
      "seat_type": "statutaire",
      "new_address": {
        "city": "Lievegem",
        "region": null,
        "street": "Eeksken",
        "country": "BE",
        "postcode": "9920",
        "box_number": null,
        "street_number": "69"
      },
      "old_address": {
        "city": "Gent",
        "region": null,
        "street": "Schaapherderstraat",
        "country": "BE",
        "postcode": "9032",
        "box_number": null,
        "street_number": "8"
      },
      "effective_date": "2025-08-07",
      "evidence_quote": "De vergadering beslist dat de zetel van de vennootschap zal worden verplaatst van Schaapherderstraat 8, 9032 Gent naar Eeksken 69, 9920 Lievegem, en dit vanaf 07/08/2025."
    }
  ],
  "schema": "v3.2",
  "act_meta": {
    "model_id": 36,
    "extractor": "constrained-core-35b"
  },
  "subject_company": {
    "kbo": "0805.588.364",
    "name_full": "HONK-TREE",
    "legal_form": "BV"
  }
}
2023
11-09-2023 Incorporation of a new BV Incorporation
Summary: oprichting
Technical details 
{
  "kind": "oprichting",
  "seat": "9032 Gent (Wondelgem), Schaapherderstraat 8",
  "schema": "v3.2",
  "act_meta": {
    "model_id": 36,
    "extractor": "constrained-core-35b"
  },
  "founders": [
    {
      "org": {
        "kbo": null,
        "name": "Luxtree"
      },
      "kind": "rechtspersoon",
      "person": null,
      "share_class": "Aandelen",
      "partner_role": null,
      "holder_org_kbo": null,
      "holder_org_name": "Luxtree",
      "contribution_type": "cash",
      "amount_paid_in_eur": 10000,
      "holder_person_name": null,
      "is_subscriber_only": true,
      "n_shares_subscribed": 1000,
      "amount_subscribed_eur": 10000,
      "is_anonymous_silent_partner": false
    },
    {
      "org": {
        "kbo": "0672.836.540",
        "name": "H\u00F4nk-Vast"
      },
      "kind": "rechtspersoon",
      "person": null,
      "share_class": "Aandelen",
      "partner_role": null,
      "holder_org_kbo": "0672.836.540",
      "holder_org_name": "H\u00F4nk-Vast",
      "contribution_type": "cash",
      "amount_paid_in_eur": 10000,
      "holder_person_name": null,
      "is_subscriber_only": true,
      "n_shares_subscribed": 1000,
      "amount_subscribed_eur": 10000,
      "is_anonymous_silent_partner": false
    },
    {
      "org": {
        "kbo": "0823.073.803",
        "name": "TOMTREE"
      },
      "kind": "rechtspersoon",
      "person": null,
      "share_class": "A",
      "partner_role": null,
      "holder_org_kbo": "0823.073.803",
      "holder_org_name": "TOMTREE",
      "contribution_type": "cash",
      "amount_paid_in_eur": 0,
      "holder_person_name": null,
      "is_subscriber_only": true,
      "n_shares_subscribed": 0,
      "amount_subscribed_eur": 0,
      "is_anonymous_silent_partner": false
    }
  ],
  "capital_eur": 20000,
  "subject_company": {
    "kbo": "0805.588.364",
    "name_full": "H\u00F4nk-Tree",
    "legal_form": "BV"
  },
  "initial_directors": [],
  "incorporation_date": "2023-08-30",
  "post_incorporation_mandates": []
}
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Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.
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Company registry (CBE) Crossroads Bank
Names & trade names
Legal nameNL Hônk-Tree
Legal nameNL Stonetree
Registered office
Kerkstraat 27
3080 Tervuren, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.
Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative