Hotel Development Belzan
ActiveThe computed 12-month bankruptcy probability of Hotel Development Belzan is 1.8% (moderate). The 2024 annual accounts show negative equity (€-58k) and a net result of €4k. Equity is shrinking by ~74% per year across the filed fiscal years. Its solvency ranks better than 5% of 672 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
53
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability100▲+100
Solvency0=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.11 against 0.03 in 2023; short-term debt: 884.4% and cash: 99.8% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 2024Solvency, return and age of the figures
Solvency
-784.4%
Return on assets
53.3%
Age of the figures
20 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 55
Relative position
BE, all sectors
reference
Sector 55
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 672 sector peers (2024).
NBB · sector comparisonPosition among 672 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 02-07-2025, 29 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
29 d early
2023
13 d early
2022
34 d early
2021
23 d early
2020
12 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Turnover
€35k
EBIT margin
12.3%
Net result
€4k
2023 · €-36k
2020: €-16k
2021: €-32k
2022: €-40k
2023: €-36k
2020 → 2024
Working capital
€-58k▲ 12.0%
2023 · €-66k
2020: €-24k
2021: €-50k
2022: €-55k
2023: €-66k
2020 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€35k
Equity€46k-€14k▼ 69.9%€-26k€-62k▼ 140%€-58k▲ 6.4%
Operating result€-15k-€-32k▼ 107%€-39k▼ 22.4%€-36k▲ 8.8%€4k
Net result€-16k-€-32k▼ 105%€-40k▼ 23.5%€-36k▲ 9.1%€4k
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €4k after a loss of €36k in 2023, the highest result in the available series.
Key figures and ratios
EBITDA
€8k▲
2023 · €-10k
Cash flow
€8k▲
2023 · €-11k
Solvency
-784.4%▲
2023 · -990.6%
Current ratio
0.11▲
2023 · 0.03
Quick ratio
0.11▲
2023 · 0.03
Debt / equity
-1.13▼
2023 · -1.10
ROA
53.3%▲
2023 · -577.3%
Interest coverage
21.21▲
2023 · -27.78
Debt
€65k▼
2023 · €68k
Debt ≤ 1 year
€65k▼
2023 · €68k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€6k€7k▲
Fixed assets21/28€4k-
Intangible fixed assets21€4k-
Current assets29/58€2k€7k▲
Amounts receivable within one year40/41€291€15▼
Other amounts receivable41€291€15▼
Cash at bank and in hand54/58€2k€7k▲
Equity and liabilities
Total equity and liabilities10/49€6k€7k▲
Equity10/15€-62k€-58k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Profit (loss) carried forward14€-123k€-119k▲
Amounts payable17/49€68k€65k▼
Amounts payable within one year42/48€68k€65k▼
Trade debts44€4k-
Suppliers440/4€4k-
Other amounts payable47/48€64k€65k▲
Income statement
Code20232024
Turnover70-€35k
Non-recurring operating income76A-€10k
Goods, raw materials, services and sundry goods60/61€10k€36k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€25k€4k▼
Other operating charges640/8€516€528▲
Gross operating margin9900€-10k€9k▲
Operating profit (loss)9901€-36k€4k▲
Financial charges65/66B€370€390▲
Recurring financial charges65€370€390▲
Profit (loss) for the period before taxes9903€-36k€4k▲
Profit (loss) for the period9904€-36k€4k▲
Profit (loss) for the period to be appropriated9905€-36k€4k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-123k€-119k▲
Profit (loss) brought forward from the previous period14P€-87k€-123k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €4k
Net result €4k after 4 loss-making years.
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet €-40k
Net result drops to €-40k, the lowest in the series; recovery starts the following year.
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
12-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 12 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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
Ground area
4,556 m²
Parcel 44017B0298/00H000, Flanders. Linked by address, not a title deed.
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44017B0298/00H000 | Flanders | 4,556 m² | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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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LE NEUTRE
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GEJA
BE 0889.968.763
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LE PANORAMA
BE 0466.768.057
Houffalize · Eq €14k
SKIPR
BE 0889.169.405
Antwerpen · Eq €14k
L'Appart FX
BE 0753.614.675
Vaux-sur-Sûre · Eq €14k
Of 2,395 companies in sector 55100 we hold annual accounts for 1,516. 583 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded27-08-2019
Fiscal year end31-12
Abbreviation NL
HDBZ
Activities, NACEBEL
55100Hotels and similar accommodation
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.