Equity
-€168,358
Debts exceed assets in financial year 2025.
HR SQUARE
Part of the group
8 companies
Lifetime
20 annual accounts with figures on one time axis, 22 filings since 2004peak €337,277 (2018)
€231,533▲ 5.4%
lowest -€198,627 (2021)
€48,495▲ 110×
peak €173,117 (2012)
-€168,358▲ €48,495
€375,517▼ 18.3%
peak 8.7 FTE (2017)
2.2 FTE▼ 24.1%
Board4 names since 2017
1 director
Owners2 names in the annual accounts
93.81%
Documentsfilings and deeds
11-06-202650 days before the deadline
2025abbreviated format
Result from €442 to €48,495Staff from 2.9 FTE to 2.2 FTEEquity from -€216,853 to -€168,358Debts from €459,694 to €375,517Cash from €281 to €32
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Key points
from the 2025 annual accountsTurnover
≈ €430,000 estimated
The abbreviated format states no turnover.
Debts
€375,517 181% of the balance sheet
Financial debts 0%Suppliers 42%Taxes and wages 4%Other 54%
Of this, €348,018 falls due within a year.
Staff
2.2 FTE from 8.7 in 2017
Between 2017 and 2025, 75% of the full-time equivalents disappeared.
Filings
22 annual accounts since 2004
Three of the last ten came late. The 2022 accounts came latest: 65 days after the end of the period.
Position in the sector
-€168,358
Less equity than 95% of companies in advertising and market research. Sector median €164,018 · 2,097 companies.
Checked score
Bankruptcy probability within 12 months
Financial strength
Score breakdown
Comparable companies, two years later
In July 2024, 3,794 companies had the same profile as HR SQUARE has now. Each dot stands for 10 companies, two years later.
91.5%
were still trading
5.3%
stopped another way
2.7%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
Test of the method
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,794 companies, not a prediction for HR SQUARE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
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Signals
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Board and ownership
Director, since 21-05-2021
- 93.81%score equity €1.4m (2025) · 2025 annual accounts of
Recent changes
Capital increase of €300,000 to €1,181,640
Capital from €881,640 to €1,181,640, 484 new shares · A shareholder holds 484 shares · General meeting of 18-05-2026 · Gazette deed
Registered office moved within Ghent
New registered office: Ottergemsesteenweg-Zuid 808 B bus 47, 9000 Gent · Previous registered office: Amelia Earhartlaan 19 bus 301, 9051 Gent · Board meeting of 08-07-2024 · Gazette deed
Capital increase of €199,640 to €881,640
Capital from €682,000 to €881,640, 322 new shares · Contribution: · General meeting of 24-06-2022 · Gazette deed
Registered office moved within Ghent
New registered office: Amelia Earhartlaan 19 bus 301 9051 Gent · Previous registered office: Amelia Earhartlan 17 9051 Gent · Board meeting of 10-03-2022 · Gazette deed
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Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| HR SQUARE Ghent | €207,159 | €231,533 | -81.3% | 2.2 |
| Visable Ottignies-Louvain-la-Neuve | €130,803 | €222,947 | -1431.9% | 2.2 |
| M&J CONCEPT Brussels | €107,601 | €199,175 | 25.1% | 1.8 |
| Dising Plus Ouffet | €307,444 | €286,036 | 62.0% | 3.5 |
| ITERSYS Sint-Gillis (bij-Brussel) | €460,356 | €165,391 | 64.5% | 1 |
| BMG MEDIA Antwerp | €274,179 | €423,891 | -161.8% | 7.1 |
| DPI Anderlecht | €496,337 | €317,184 | 2.0% | 5 |
These companies have the same main activity as HR SQUARE: media representation (NACE 73120). They are comparable in size and age: total assets between €108,000 and €496,000, founded between 1995 and 2009.
Official details
Source: KBO- Status
- Active since 25-11-2002Normal situation
- Registered office
- 182 active companies are registered at this address14 started in the 12 months before. Source: KBO register, as of 11 November 2026.
- Activity
- Media representationNACE 73120and 3 others
- Joint committees
- 200Auxiliary committee for white-collar workers
- 100Auxiliary committee for blue-collar workers · annual accounts 2025
- Establishment unit
- 2.115.642.2549000 Ghent, since 23-12-2002
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Annual accounts 2025
- €207,159▼ 14.7%
- Employeeson 31-12-2025
- 3=
- Filing
- Filed on 11-06-2026, 50 days before the end of the filing period
Insights on HR SQUARE
HR SQUARE files the abbreviated format. That format states no turnover. The gross margin rose from -€101,781 in 2006 to €231,533 in 2025.
holds 93.81% of the shares.
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Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about HR SQUARE
- What is the company number of HR SQUARE?
- The company number of HR SQUARE is 0478.831.491. The VAT number is the same number with BE in front: BE 0478.831.491.
- Where is HR SQUARE based?
- The registered office is at Ottergemsesteenweg-Zuid 808 B, 9000 Ghent.Company details
- What does HR SQUARE do?
- According to the KBO register, the main activity is media representation (NACE 73120).
- What is the legal form of HR SQUARE?
- HR SQUARE is a public limited company (NV).
- When was HR SQUARE founded?
- HR SQUARE was founded on 25-11-2002.
- Is HR SQUARE still active?
- Yes, HR SQUARE is an active enterprise in the KBO register.
- How many employees does HR SQUARE have?
- HR SQUARE had an average of 2.2 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does HR SQUARE fall under?
- In its 2025 annual accounts, HR SQUARE states joint committees 200 (Auxiliary committee for white-collar workers) and 100 (Auxiliary committee for blue-collar workers).
- What is the turnover of HR SQUARE?
- The turnover in financial year 2025 is ≈ €430,000. This figure is estimated from the gross margin of €231,533 and 38 comparable companies (NACE 73). It probably lies between €320,000 and €850,000.
- Is HR SQUARE profitable?
- In financial year 2025, HR SQUARE made a profit of €48,495.
- Where can I find the annual accounts of HR SQUARE?
- HR SQUARE filed 22 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of HR SQUARE due?
- HR SQUARE must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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