HR DEVELOPMENT
ActiveSummary
HR DEVELOPMENT has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €132,510 and a net result of -€84,539. Equity is shrinking by ~11.2% per year across the filed fiscal years. Its solvency ranks better than 49% of 3507 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-7
Solvency75▼-11
Growth32▼-20
Track record94
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity ample (current ratio 75.19 against 58.48 in 2024; short-term debt: 1.2% and cash: 25.6% of total assets), but 50.3% of the assets are financed with debt.
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Signals
Six 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
49.7%
Return on assets
-31.7%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
22232425
2022 to 2025 · latest year -€84,539
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-07-2026, 7 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
7 d early
2024
on the day
2023
on the day
2022
21 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 4 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€132,510▼ 38.9%
2024 · €217,049
Total assets
€266,850▼ 24.5%
2024 · €353,493
Net result
-€84,539▼ 145%
2024 · -€34,501
Working capital
€229,227▼ 23.2%
2024 · €298,509
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, 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
Line2022202320242025
Operating result€188,022-€127,147▼ 32.4%-€34,341-€84,362▼ 146%
Net result€147,745above the sector's middle half-€98,806above the sector's middle half▼ 33.1%-€34,501below the sector's middle half-€84,539below the sector's middle half▼ 145%
Equity€152,745above the sector's middle half-€251,551above the sector's middle half▲ 64.7%€217,049above the sector's middle half▼ 13.7%€132,510above the sector's middle half▼ 38.9%
Total assets€340,451above the sector's middle half-€389,250above the sector's middle half▲ 14.3%€353,493above the sector's middle half▼ 9.2%€266,850above the sector's middle half▼ 24.5%
Debt€187,706-€137,699▼ 26.6%€136,443▼ 0.9%€134,340▼ 1.5%
Working capital€212,054above the sector's middle half-€321,872above the sector's middle half▲ 51.8%€298,509above the sector's middle half▼ 7.3%€229,227above the sector's middle half▼ 23.2%
Solvency44.9%within the sector's middle half-64.6%within the sector's middle half▲ 19.8pp61.4%within the sector's middle half▼ 3.2pp49.7%within the sector's middle half▼ 11.7pp
Current ratio4.76above the sector's middle half-50.91above the sector's middle half▲ 46.1558.48above the sector's middle half▲ 7.5775.19above the sector's middle half▲ 16.71
Return on assets (ROA)43.4%above the sector's middle half-25.4%above the sector's middle half▼ 18.0pp-9.8%below the sector's middle half▼ 35.1pp-31.7%below the sector's middle half▼ 21.9pp
above
within
below
the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, 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 stays negative: a loss of €84,362 in 2025 against €34,341 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €266,850
Fixed assets
€34,534 ▼ 30.6%
Current assets
€232,316 ▼ 23.5%
Equity and liabilities €266,850
Equity
€132,510 ▼ 38.9%
Debt
€134,340 ▼ 1.5%
Debt's share of the balance-sheet total rises from 38.6% to 50.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€67,839▼
2024 · -€21,915
Cash flow
-€68,016▼
2024 · -€22,075
Quick ratio
65.97▲
2024 · 55.59
Debt to equity
1.01▲
2024 · 0.63
ROE
-63.8%▼
2024 · -15.9%
Interest coverage
-1883.38▼
2024 · -684.84
Debt ≤ 1 year
€3,090▼
2024 · €5,193
Income taxes
€141▲
2024 · €128
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,227 companies that looked in July 2024 the way this one looks now, 2.9% went bankrupt within 24 months and 87% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
2.9%
went bankrupt
8.6%
stopped otherwise
87%
still going
A further 1.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 3,227 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 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,485 | €16,185 | €12,426 | €16,523 | ▲ 33.0% |
| Other operating charges640/8 | €729 | €519 | €1,257 | €1,806 | ▲ 43.7% |
| Gross operating margin9900 | €193,236 | €143,850 | -€20,658 | -€66,033 | ▼ 220% |
| Operating profit (loss)9901 | €188,022 | €127,147 | -€34,341 | -€84,362 | ▼ 146% |
| Financial income75/76B | €3 | - | €0 | €0 | ▲ 400% |
| Recurring financial income75 | €3 | - | €0 | €0 | ▲ 400% |
| Financial charges65/66B | €357 | €43 | €32 | €36 | ▲ 12.6% |
| Recurring financial charges65 | €357 | €43 | €32 | €36 | ▲ 12.6% |
| Profit (loss) for the period before taxes9903 | €187,668 | €127,104 | -€34,373 | -€84,398 | ▼ 146% |
| Income taxes67/77 | €39,923 | €28,298 | €128 | €141 | ▲ 10.1% |
| Profit (loss) for the period9904 | €147,745 | €98,806 | -€34,501 | -€84,539 | ▼ 145% |
| Profit (loss) for the period to be appropriated9905 | €147,745 | €98,806 | -€34,501 | -€84,539 | ▼ 145% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €340,451 | €389,250 | €353,493 | €266,850 | ▼ 24.5% |
| Fixed assets21/28 | €71,941 | €60,929 | €49,790 | €34,534 | ▼ 30.6% |
| Tangible fixed assets22/27 | €71,941 | €60,929 | €49,790 | €34,534 | ▼ 30.6% |
| Furniture and vehicles24 | €71,941 | €60,929 | €49,790 | €34,534 | ▼ 30.6% |
| Current assets29/58 | €268,510 | €328,321 | €303,703 | €232,316 | ▼ 23.5% |
| Stocks and contracts in progress3 | €15,000 | €15,000 | €15,000 | €28,500 | ▲ 90.0% |
| Stocks30/36 | €15,000 | €15,000 | €15,000 | €28,500 | ▲ 90.0% |
| Amounts receivable within one year40/41 | €133,457 | €134,561 | €196,926 | €133,302 | ▼ 32.3% |
| Trade receivables40 | €131,250 | €131,250 | €188,850 | €131,250 | ▼ 30.5% |
| Other amounts receivable41 | €2,207 | €3,311 | €8,076 | €2,052 | ▼ 74.6% |
| Cash at bank and in hand54/58 | €117,720 | €176,209 | €89,052 | €68,284 | ▼ 23.3% |
| Deferred charges and accrued income490/1 | €2,332 | €2,551 | €2,725 | €2,230 | ▼ 18.2% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €340,451 | €389,250 | €353,493 | €266,850 | ▼ 24.5% |
| Equity10/15 | €152,745 | €251,551 | €217,049 | €132,510 | ▼ 38.9% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €145,000 | €245,000 | €212,000 | €127,000 | ▼ 40.1% |
| Distributable reserves133 | €145,000 | €245,000 | €212,000 | €127,000 | ▼ 40.1% |
| Profit (loss) carried forward14 | €2,745 | €1,551 | €49 | €510 | ▲ 934% |
| Amounts payable17/49 | €187,706 | €137,699 | €136,443 | €134,340 | ▼ 1.5% |
| Amounts payable within one year42/48 | €56,456 | €6,449 | €5,193 | €3,090 | ▼ 40.5% |
| Trade debts44 | €1,316 | €1,464 | €842 | €437 | ▼ 48.1% |
| Suppliers440/4 | €1,316 | €1,464 | €842 | €437 | ▼ 48.1% |
| Taxes, remuneration and social security45 | €39,923 | - | €128 | €141 | ▲ 10.1% |
| Taxes450/3 | €39,923 | - | €128 | €141 | ▲ 10.1% |
| Other amounts payable47/48 | €15,217 | €4,985 | €4,223 | €2,512 | ▼ 40.5% |
| Accrued charges and deferred income492/3 | €131,250 | €131,250 | €131,250 | €131,250 | = |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €147,745 | €98,806 | -€34,501 | -€84,539 | ▼ 145% |
| + Depreciation and write-downs630 | €4,485 | €16,185 | €12,426 | €16,523 | ▲ 33.0% |
| Operating cash flow (approximation) | €152,230 | €114,991 | -€22,075 | -€68,016 | ▼ 208% |
| Investment in fixed assets (approximation) | - | -€5,173 | -€1,287 | -€1,267 | ▲ 1.6% |
| Change in cash | - | €58,489 | -€87,157 | -€20,768 | ▲ 76.2% |
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
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€84,539
Net result drops to -€84,539, the lowest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity times 11current ratio 50.91
Current ratio from 4.76 to 50.91; short-term debt falls from €56,456 to €6,449.
31-12
Financial
Equity above €200,000Eq €251,551 ▲64.7%
2 profitable years in a row build equity to €251,551.
21-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 21 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Mons · 1 establishment unit since 2022
Ground area
199 m²
Building footprint
240 m²
Volume, LiDAR
2,077 m³
Parcel 53403G0530/00B000, Wallonia · tallest building 10.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
HR DEVELOPMENT
since 20222.326.395.441
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 53403G0530/00B000 | Wallonia | 199 m² | 1 · 240 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.
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Of 886 companies in sector 74991 we hold annual accounts for 317. 232 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
Founded03-01-2022
Fiscal year end31-12
Activities, NACEBEL 2025
74991Agents and managers of artists, athletes and other public figures
01430Raising of horses and other equines
E-invoicing
Reachable via Peppol
Peppol ID
0208:0779616516
Also
9925:BE0779616516
Registered
02-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.