Equity
€29.2m ▲ 1.3%
HSI paid out €2.2m in dividends. That is 85% of the 2025 profit.
HSI
Lifetime
12 annual accounts with figures on one time axispeak €46,882 (2018)
-€151,042▼ €39,591
lowest -€30,810 (2020)
€2.5m▼ 34.2%
peak €29.2m (2025)
€29.2m▲ 1.3%
€399,897▲ 12×
Board2 names since 2013
2 directorsSAUVAJON Faustine Anicée Léonie and 1 other
Documentsfilings and deeds
17-06-202644 days before the deadline
2025micro format
Gross margin from -€111,451 to -€151,042Result from €3.8m to €2.5mPurpose change · Amendment of the articles · Legal-form chang… 29-04Amendment of the articles · Legal-form change 03-03Dividend €2.2mDebts from €33,283 to €399,897
Key points
from the 2025 annual accountsResult
€2.5m ▼ 34.2%
The result fell in 2025 from €3.8m to €2.5m.
Debts
€399,897 ▲ 12×
Debts rose by €366,614 in 2025. A dividend stands under other debts on the balance sheet date until it is paid.
Filings
12 annual accounts since 2014
The last five annual accounts were filed 37 to 46 days before the end of the period.
Group
4 companies controlled
Heads a group.
Position in the sector
98.7%
Higher solvency than 95% of companies in advertising and market research. Sector median 53.3% · 8,614 companies.
Turnover not published (micro format)
Checked score
95
Excellent
Financially stronger than 58% of medium-sized companies in advertising and market research (NACE 73)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 117 companies (NACE 73, medium-sized).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: 0.1%▲ +0.1 percentage points vs 05-2025
07-2025: < 0.1%▼ -0.1 percentage points vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: 0.1%▲ +0.1 percentage points vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.1%● unchanged vs 07-2026
09-2026: 0.2%▲ +0.1 percentage points vs 08-2026highest value
10-2026: < 0.1%▼ -0.2 percentage points vs 09-2026lowest value
11-2026: < 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Liquidity: current ratio 57.72, cash €1.8m
lowers risk
Size: total assets €29.6m
Figures for financial year 2025 (filed on 17-06-2026)
Founded in 2013
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 73, medium-sized). It does better than 85% of them on solvency, 83% on liquidity, 16% on profitability and 46% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 449 companies had the same profile as HSI has now. Each dot is one company, two years later.
96.9%
were still trading
3.1%
stopped another way
0.0%
went bankrupt
That fits the bankruptcy probability of HSI itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 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 449 companies, not a prediction for HSI. 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
Credit of up to €2,750,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 57.72, above the usual 1.5. Short-term debt is 1.3% and cash 6.2% of total assets. 1.3% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
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 €29.2m
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 17-06-2026, 44 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
44 days early
2024
43 days early
2023
37 days early
2022
46 days early
2021
44 days early
2020
44 days early
2019
39 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 42 days before the deadline. In the sector (NACE 73), the median for financial year 2024 was 6 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 17 June (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- New chapter 50%score 97equity €3.2m (2025) · deed of 03-03-2025
Shares in 1 company, KEYTEO GROUP
Board & ownershipRecent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0536618054
Purpose change · Amendment of the articles · Legal-form change · Resignations & appointments
Gazette deed
Amendment of the articles · Legal-form change
Name clause: HSI · Hadi Ait-Si Selmi holds 1,000 shares (50%) · New Chapter holds 1,000 shares (50%) · Board meeting of 17-02-2025 · Gazette deed
Demerger: New chapter splits off to HSI
Issue of 1,000 shares · Resignations: AIT-SI-SELMI Hadi (director) and SAUVAJON Faustine Anicée Léonie (director) · Appointments: AIT-SI-SELMI Hadi (director) and SAUVAJON Faustine Anicée Léonie (director) · General meeting of 29-06-2022 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| HSI Uccle | €29.6m | -€0.2m | 98.7% | - |
| AILE FINANCE Uccle | €42.3m | -€0.1m | 88.8% | - |
| DEBELCO Ixelles | €21.5m | -€0.03m | 88.5% | - |
| INFRARO Hasselt | €19.8m | -€0.05m | 76.8% | - |
| GAUTAMA Woluwe-Saint-Lambert | €21.0m | -€0.008m | 100.0% | 0 |
| Lean Mean Business Houthalen-Helchteren | €21.1m | -€0.05m | 73.3% | 2 |
| Mercury Investors Schoten | €25.5m | -€1.6m | 89.4% | 2.3 |
These companies have the same main activity as HSI: public relations and communication consultancy (NACE 73300). They are comparable in size and age: total assets between €20m and €42m, founded between 2003 and 2016.
Official details
Source: KBO- Status
- Active since 11-07-2013Normal situation
- Activity
- Public relations and communication consultancyNACE 73300and 1 other
- Establishment unit
- 2.221.766.7861180 Uccle, since 05-07-2013
- Financial year end
- 31 December
- Peppol
- Reachable since 20-06-2025
Annual accounts 2025
- €29.6m▲ 2.6%
- Filing
- Filed on 17-06-2026, 44 days before the end of the filing period
Insights on HSI
HSI files the micro format. That format states no turnover. The gross margin fell from €25,497 in 2014 to -€151,042 in 2025.
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 HSI
- What is the company number of HSI?
- The company number of HSI is 0536.618.054. The VAT number is the same number with BE in front: BE 0536.618.054.
- Where is HSI based?
- The registered office is at Korporaaldreef 15A, 1180 Uccle.Company details
- What does HSI do?
- According to the KBO register, the main activity is public relations and communication consultancy (NACE 73300).
- What is the legal form of HSI?
- HSI is a private limited company (BV).
- When was HSI founded?
- HSI was founded on 11-07-2013.
- Is HSI still active?
- Yes, HSI is an active enterprise in the KBO register.
- What is the turnover of HSI?
- The annual accounts for financial year 2025 state no turnover. The micro format does not require it.Financials
- Is HSI profitable?
- In financial year 2025, HSI made a profit of €2.5m.
- Where can I find the annual accounts of HSI?
- HSI filed 12 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of HSI due?
- HSI must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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