HREvolution
ActiveSummary
HREvolution has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€25,961) and a net result of €5,721. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 6% of 7081 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability94▲+94
Solvency0=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.21 against 0.19 in 2024; short-term debt: 186.8% and cash: 37.9% of total assets), and equity is negative.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
-90.3%
Return on assets
19.9%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 6% of 7081 sector peers (2025).
NBB · sector comparisonPosition among 7081 sector peers
Solvency
better than 6%
← weakest
strongest →
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 19-05-2026, 73 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
73 d early
2024
41 d early
2023
54 d early
2022
56 d early
2021
5 d late
2020
17 d early
2019
66 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 43 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
-€25,961▲ 18.1%
2024 · -€31,682
Total assets
€28,753▼ 38.0%
2024 · €46,387
Net result
€5,721
2024 · -€38,030
Working capital
-€42,203▲ 32.6%
2024 · -€62,583
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€44,402€10,053▼ 77.4%-€14,752-€37,627▼ 155%€6,114
Net result€43,448€6,572▼ 84.9%-€19,118-€38,030▼ 98.9%€5,721
Equity€18,894▲ 247%€25,466▲ 34.8%€6,347▼ 75.1%-€31,682-€25,961▲ 18.1%
Total assets€113,531▲ 834%€107,835▼ 5.0%€91,139▼ 15.5%€46,387▼ 49.1%€28,753▼ 38.0%
Debt€94,637▲ 1,311%€82,369▼ 13.0%€84,791▲ 2.9%€78,069▼ 7.9%€54,714▼ 29.9%
Working capital-€45,980-€34,750▲ 24.4%-€39,211▼ 12.8%-€62,583▼ 59.6%-€42,203▲ 32.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Why a figure moved sharply
- 2021 Total assets +834% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €6,114 after a loss of €37,627 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €28,753
Fixed assets
€17,243 ▼ 45.9%
Current assets
€11,510 ▼ 20.5%
Key figures and ratios
EBITDA
€20,771▲
2024 · -€22,970
Cash flow
€20,379▲
2024 · -€23,372
Solvency
-90.3%▼
2024 · -68.3%
Current ratio
0.21▲
2024 · 0.19
Debt to equity
-2.11▲
2024 · -2.46
ROA
19.9%▲
2024 · -82.0%
Interest coverage
126.76▲
2024 · -100.84
Debt ≤ 1 year
€53,714▼
2024 · €77,069
Income taxes
€239▼
2024 · €261
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,639 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
4.9%
stopped otherwise
92%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,058 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% | 1.6% |
| 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 74% 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 3,639 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €10,000 | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,415 | €14,658 | €14,658 | €14,658 | €14,658 | = |
| Other operating charges640/8 | €398 | €410 | €419 | €387 | €475 | ▲ 22.6% |
| Gross operating margin9900 | €52,215 | €25,120 | €325 | -€22,582 | €21,246 | ▲ 194% |
| Operating profit (loss)9901 | €44,402 | €10,053 | -€14,752 | -€37,627 | €6,114 | ▲ 116% |
| Financial income75/76B | - | €3 | €164 | €87 | €10 | ▼ 87.9% |
| Recurring financial income75 | - | €3 | €164 | €87 | €10 | ▼ 87.9% |
| Financial charges65/66B | €284 | €2,604 | €4,323 | €228 | €164 | ▼ 28.1% |
| Recurring financial charges65 | €284 | €2,604 | €4,323 | €228 | €164 | ▼ 28.1% |
| Profit (loss) for the period before taxes9903 | €44,118 | €7,451 | -€18,911 | -€37,768 | €5,960 | ▲ 116% |
| Income taxes67/77 | €671 | €879 | €208 | €261 | €239 | ▼ 8.5% |
| Profit (loss) for the period9904 | €43,448 | €6,572 | -€19,118 | -€38,030 | €5,721 | ▲ 115% |
| Profit (loss) for the period to be appropriated9905 | €43,448 | €6,572 | -€19,118 | -€38,030 | €5,721 | ▲ 115% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €113,531 | €107,835 | €91,139 | €46,387 | €28,753 | ▼ 38.0% |
| Fixed assets21/28 | €65,873 | €61,216 | €46,558 | €31,900 | €17,243 | ▼ 45.9% |
| Tangible fixed assets22/27 | €65,873 | €51,216 | €36,558 | €21,900 | €7,243 | ▼ 66.9% |
| Plant, machinery and equipment23 | €1,677 | €1,307 | €937 | €567 | €197 | ▼ 65.3% |
| Furniture and vehicles24 | €64,197 | €49,909 | €35,621 | €21,334 | €7,046 | ▼ 67.0% |
| Financial fixed assets28 | - | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Current assets29/58 | €47,658 | €46,619 | €44,581 | €14,487 | €11,510 | ▼ 20.5% |
| Amounts receivable within one year40/41 | €11,213 | €4,779 | €8,963 | €4,842 | €0 | ▼ 100% |
| Trade receivables40 | €11,213 | €0 | - | - | - | - |
| Other amounts receivable41 | - | €4,779 | €8,963 | €4,842 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €35,975 | €39,217 | €35,086 | €9,079 | €10,907 | ▲ 20.1% |
| Deferred charges and accrued income490/1 | €470 | €2,623 | €531 | €566 | €604 | ▲ 6.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €113,531 | €107,835 | €91,139 | €46,387 | €28,753 | ▼ 38.0% |
| Equity10/15 | €18,894 | €25,466 | €6,347 | -€31,682 | -€25,961 | ▲ 18.1% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €6,494 | €13,066 | €13,066 | €13,066 | €13,066 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | €4,634 | €11,206 | €13,066 | €13,066 | €13,066 | = |
| Profit (loss) carried forward14 | €0 | €0 | -€19,118 | -€57,148 | -€51,427 | ▲ 10.0% |
| Amounts payable17/49 | €94,637 | €82,369 | €84,791 | €78,069 | €54,714 | ▼ 29.9% |
| Amounts payable within one year42/48 | €93,637 | €81,369 | €83,791 | €77,069 | €53,714 | ▼ 30.3% |
| Trade debts44 | €681 | €3,036 | €1,194 | €0 | €1,225 | - |
| Suppliers440/4 | €681 | €3,036 | €1,194 | €0 | €1,225 | - |
| Taxes, remuneration and social security45 | €10,139 | €10,465 | €4,774 | €1,662 | €4,485 | ▲ 170% |
| Taxes450/3 | €10,139 | €10,465 | €2,374 | €1,662 | €4,485 | ▲ 170% |
| Remuneration and social security454/9 | - | - | €2,400 | €0 | - | - |
| Other amounts payable47/48 | €82,817 | €67,868 | €77,824 | €75,408 | €48,004 | ▼ 36.3% |
| Accrued charges and deferred income492/3 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €43,448 | €6,572 | -€19,118 | -€38,030 | €5,721 | ▲ 115% |
| + Depreciation and write-downs630 | €7,415 | €14,658 | €14,658 | €14,658 | €14,658 | = |
| Operating cash flow (approximation) | €50,863 | €21,230 | -€4,461 | -€23,372 | €20,379 | ▲ 187% |
| Investment in fixed assets (approximation) | - | -€10,000 | €0 | €0 | €0 | - |
| Change in cash | - | €3,242 | -€4,131 | -€26,007 | €1,828 | ▲ 107% |
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
19-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €5,721
Net result €5,721 after 2 loss-making years.
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€38,030
Net result drops to -€38,030, the lowest in the series; recovery starts the following year.
07-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
05-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
05-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 5 days late
2021
31-12
Financial
Back to profitnet €43,448
Net result €43,448 after 3 loss-making years.
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
26-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
24-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
03-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
24-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Overijse · 1 establishment unit since 2012
Ground area
2,336 m²
Building footprint
152 m²
Volume, LiDAR
1,514 m³
Parcel 23544D0277/00M002, Flanders · tallest building 14.0 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
HREvolution
since 20122.205.453.663
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23544D0277/00M002 | Flanders | 2,336 m² | 1 · 152 m² | 14.0 m · 4 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 13,417 companies in sector 73300 we hold annual accounts for 6,899. 2,971 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
Founded23-11-2011
Fiscal year end31-12
Activities, NACEBEL 2025
73300Public relations and communication consultancy
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0841258729
Registered
20-11-2020
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.