HS-Group
Open bankruptcyA bankruptcy procedure is open for HS-Group according to publications in the Belgian State Gazette; curator: LIEVE TEINTENIER. The 2024 annual accounts show negative equity (€-181k) and a net result of €-323k.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €-181k
Financials · fiscal year 2024, micro schema
Turnover
€685k▲ 5.6%
2019 · €649k
2018: €528k
2019: €649k
2018 → 2020
EBIT margin
1.5%=
2019 · 1.5%
2018: 3.3%
2019: 1.5%
2018 → 2020
Net result
€-323k▼ 650%
2023 · €-43k
2018: €12k
2019: €10k
2020: €8k
2021: €8k
2022: €43k
2023: €-43k
2018 → 2024
Working capital
€-123k
2023 · €60k
2018: €-112k
2019: €-239k
2020: €-178k
2021: €-128k
2022: €27k
2023: €60k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€685k-
Equity€135k-€142k▲ 5.5%€186k▲ 30.5%€142k▼ 23.2%€-181k
Operating result€10k-€11k▲ 4.4%€66k▲ 514%€-38k€-303k▼ 695%
Net result€8k-€8k▼ 9.3%€43k▲ 469%€-43k€-323k▼ 650%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €303k in 2024 against €38k in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €315k
Fixed assets
€43k▼ 87.8%
Current assets
€272k▼ 37.7%
Key figures and ratios
EBITDA
€-292k▼
2023 · €-34k
Cash flow
€-312k▼
2023 · €-39k
Solvency
-57.4%▼
2023 · 18.0%
Current ratio
0.69▼
2023 · 1.16
Quick ratio
0.66▼
2023 · 0.97
Debt / equity
-2.74▼
2023 · 4.55
ROA
-102.6%▼
2023 · -5.5%
Interest coverage
-15.48▼
2023 · -8.92
Debt
€496k▼
2023 · €649k
Debt ≤ 1 year
€395k▲
2023 · €377k
Debt > 1 year
€101k▼
2023 · €272k
Income taxes
€1k▼
2023 · €1k
Staff costs
€155k▲
2023 · €113k
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€791k€315k▼
Fixed assets21/28€354k€43k▼
Tangible fixed assets22/27€54k€43k▼
Land and buildings22€29k€24k▼
Plant, machinery and equipment23€11k€9k▼
Furniture and vehicles24€13k€10k▼
Financial fixed assets28€300k€0▼
Current assets29/58€437k€272k▼
Stocks and contracts in progress3€73k€11k▼
Stocks30/36€73k€11k▼
Amounts receivable within one year40/41€336k€261k▼
Trade receivables40€284k€150k▼
Other amounts receivable41€52k€111k▲
Current investments50/53€85€85=
Cash at bank and in hand54/58€27k€541▼
Deferred charges and accrued income490/1€1k€0▼
Equity and liabilities
Total equity and liabilities10/49€791k€315k▼
Equity10/15€142k€-181k▼
Contributions10/11€19k€19k=
Reserves13€45k€45k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€43k€43k=
Profit (loss) carried forward14€79k€-245k▼
Amounts payable17/49€649k€496k▼
Amounts payable after more than one year17€272k€101k▼
Financial debts170/4€272k€101k▼
Amounts payable within one year42/48€377k€395k▲
Current portion of amounts payable after more than one year42-€16k
Trade debts44€308k€311k▲
Suppliers440/4€308k€311k▲
Taxes, remuneration and social security45€39k€29k▼
Taxes450/3€11k€4k▼
Remuneration and social security454/9€28k€25k▼
Other amounts payable47/48€30k€39k▲
Income statement
Code20232024
Remuneration, social security and pensions62€113k€155k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€11k▲
Other operating charges640/8€5k€370▼
Gross operating margin9900€84k€-137k▼
Operating profit (loss)9901€-38k€-303k▼
Financial income75/76B€20€0▼
Recurring financial income75€20€0▼
Financial charges65/66B€4k€19k▲
Recurring financial charges65€4k€19k▲
Profit (loss) for the period before taxes9903€-42k€-322k▼
Income taxes67/77€1k€1k▼
Profit (loss) for the period9904€-43k€-323k▼
Profit (loss) for the period to be appropriated9905€-43k€-323k▼
Appropriation of the result
Profit (loss) to be appropriated9906€79k€-245k▼
Profit (loss) brought forward from the previous period14P€122k€79k▼
Transfer to equity691/2€0-
To other reserves6921€0-
Social balance
Average headcount (FTE)90874.7-
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
07-11
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · HS-GROUP BV ORCHIDEE- STRAAT 29, 9041 OOSTAKKER · event 28-10-2025
09-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 162 days late
2024
30-09
Financial
Weakest financial yearnet €-323k
Net result drops to €-323k, the lowest in the series.
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 62 days late
2023
23-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 54 days late
2022
30-09
Financial
Highest result since 2018net €43k ▲469%
Operating result €66k, net result €43k, both a record.
30-09
Financial
Equity above €150kEq €186k ▲30.5%
5 profitable years in a row build equity to €186k.
05-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 5 days late
2021
27-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
12-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 12 days late
2019
03-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 3 days late
2018
11-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
09-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 9 days late
2016
29-03
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Gent · 1 establishment unit since 2012
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Orchideestraat 299041 GentGround area
619 m²
Parcel 44051C0508/00A002, Flanders. Linked by address, not a title deed.
1 establishment unit
HS-Group
since 20122.219.928.637
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44051C0508/00A002 | Flanders | 619 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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | LIEVE TEINTENIER FRANKLIN ROOSEVELT 42,
9600 RONSE |
28-10-2025 → present |
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 614 EUR awarded · 614 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 614 EUR | 614 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 22,826 companies in sector 43211 we hold annual accounts for 10,327. 8,648 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-11-2012
Fiscal year end30-09
Activities, NACEBEL
43211General electrical installation work
42211Civil engineering
Sources
Crossroads Bank for EnterprisesNational Bank · 12 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.