HSF GROUP
ActiveHSF GROUP has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €54k and a net result of €33k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 72% of 4604 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
82
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+50
Solvency87▲+20
Growth85▲+30
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days acceptable
Liquidity ample (current ratio 2.54 against 1.11 in 2024; short-term debt: 37.8% and cash: 58.7% of total assets), and 37.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Sector 49
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
62.2%
Return on assets
38.1%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €54k
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 29-07-2026, 2 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
2 d early
2024
1 d early
2023
31 d late
2022
27 d late
2021
30 d late
2020
30 d late
2019
40 d late
← before the deadline
after the deadline →
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
23-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€376k▲ 45.9%
2018 · €257k
2018: €257k
2018 → 2019
EBIT margin
4.4%▼ 3.0pp
2018 · 7.4%
2018: 7.4%
2018 → 2019
Net result
€33k
2024 · €-13k
2018: €10k
2019: €11k
2020: €19k
2021: €17k
2022: €-31k
2023: €15k
2024: €-13k
2018 → 2025
Working capital
€50k▲ 1,512%
2024 · €3k
2018: €7k
2019: €-8k
2020: €20k
2021: €9k
2022: €-12k
2023: €-4k
2024: €3k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€48k-€17k▼ 64.0%€34k▲ 94.3%€21k▼ 38.2%€54k▲ 158%
Operating result€27k-€-23k€16k€-9k€42k
Net result€17k-€-31k€15k€-13k€33k
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €42k after a loss of €9k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €86k
Fixed assets
€3k▼ 80.6%
Current assets
€83k▲ 165%
Equity and liabilities €86k
Equity
€54k▲ 158%
Debt
€33k▲ 15.9%
The debt ratio falls from 57.5% to 37.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€56k▲
2024 · €6k
Cash flow
€47k▲
2024 · €1k
Solvency
62.2%▲
2024 · 42.5%
Current ratio
2.54▲
2024 · 1.11
Quick ratio
2.54▲
2024 · 1.11
Debt / equity
0.61▼
2024 · 1.35
ROE
61.2%▲
2024 · -61.8%
ROA
38.1%▲
2024 · -26.2%
Debt
€33k▲
2024 · €28k
Debt ≤ 1 year
€33k▲
2024 · €28k
Income taxes
€9k▲
2024 · €4k
Staff costs
€115k▲
2024 · €21k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€49k€86k▲
Fixed assets21/28€18k€3k▼
Tangible fixed assets22/27€18k€3k▼
Furniture and vehicles24€18k€3k▼
Financial fixed assets28€79€79=
Current assets29/58€31k€83k▲
Amounts receivable within one year40/41€12k€32k▲
Trade receivables40€11k€32k▲
Other amounts receivable41€945-
Cash at bank and in hand54/58€19k€51k▲
Equity and liabilities
Total equity and liabilities10/49€49k€86k▲
Equity10/15€21k€54k▲
Contributions10/11€19k€19k=
Reserves13€480€480=
Non-distributable reserves130/1€480€480=
Other1319€480€480=
Profit (loss) carried forward14€2k€35k▲
Amounts payable17/49€28k€33k▲
Amounts payable within one year42/48€28k€33k▲
Trade debts44€7k€12k▲
Suppliers440/4€7k€12k▲
Taxes, remuneration and social security45€11k€20k▲
Taxes450/3€7k€20k▲
Remuneration and social security454/9€5k-
Other amounts payable47/48€10k-
Income statement
Code20242025
Remuneration, social security and pensions62€21k€115k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€14k=
Other operating charges640/8€3k-
Non-recurring operating charges66A€4k-
Gross operating margin9900€33k€171k▲
Operating profit (loss)9901€-9k€42k▲
Financial income75/76B€105-
Recurring financial income75€105-
Non-recurring financial income76B€105-
Financial charges65/66B€171-
Recurring financial charges65€171-
Non-recurring financial charges66B€171-
Profit (loss) for the period before taxes9903€-9k€42k▲
Income taxes67/77€4k€9k▲
Profit (loss) for the period9904€-13k€33k▲
Profit (loss) for the period to be appropriated9905€-13k€33k▲
Appropriation of the result
Profit (loss) to be appropriated9906€2k€35k▲
Profit (loss) brought forward from the previous period14P€15k€2k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €33k
Net result €33k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 2.54
Current ratio from 1.11 to 2.54.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
31-12
Financial
Back to profitnet €15k
Net result €15k after one loss-making year.
27-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 27 days late
2022
31-12
Financial
Weakest financial yearnet €-31k ▼284%
Net result drops to €-31k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 30 days late
2020
09-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 40 days late
2019
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Sint-Pieters-Leeuw · 1 establishment unit since 2017
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.
Bergensesteenweg 4211600 Sint-Pieters-LeeuwGround area
8,506 m²
Building footprint
1,406 m²
Volume, LiDAR
427 m³
2 parcels, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
HSF GROUP
since 20172.264.497.167
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23582E0505/00E000 | Flanders | 8,312 m² | 1 · 1,330 m² | - |
| 23583H0184/00A002 | Flanders | 195 m² | 1 · 76 m² | 8.3 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 12,606 companies in sector 49410 we hold annual accounts for 8,203. 6,047 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded16-05-2017
Fiscal year end31-12
Activities, NACEBEL
49410Freight transport by road
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 23-09-2026. Scores and ratios are computed by Checked and are not a credit decision.