Equity
€1.5m ▲ 0.8%
HSL paid out €150,000 in dividends. That is 92% of the 2025 profit.
HSL
Lifetime
20 annual accounts with figures on one time axis, 32 filings since 1994peak €2.9m (2024)
€2.5m▼ 13.5%
peak €458,292 (2024)
€162,469▼ 64.5%
peak €1.5m (2025)
€1.5m▲ 0.8%
€3.2m▼ 31.5%
peak 13.5 FTE (2016)
8.7 FTE▼ 2.2%
Board4 names since 2021
4 directorsHSL HOLDING and 3 others
Owners
99.84%HSL HOLDING
Documentsfilings and deeds
30-06-202631 days before the deadline
2025abbreviated format
Gross margin from €2.9m to €2.5mResult from €458,292 to €162,469Dividend €150,000Debts from €4.7m to €3.2mCash from €9,285 to €4,117
Key points
from the 2025 annual accountsResult
€162,469 ▼ 64.5%
The result fell in 2025 from €458,292 to €162,469.
Turnover
≈ €11.0m estimated
The abbreviated format states no turnover.
Staff
9 employees on 31-12-2025
In 2025, 4 people joined and 5 left.
Filings
32 annual accounts since 1994
Five of the last ten came late. The 2023 accounts came latest: 61 days after the end of the period.
Board
2 joined · 2 left
Board changed. Latest change 05-11-2026 · 2 in office.
Checked score
67
Healthy
Financially stronger than 43% of micro companies in wholesale trade (NACE 46)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 26,892 companies (NACE 46, micro).
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.9%
01-2025: 1.9%● unchanged vs 12-2024
02-2025: 1.9%● unchanged vs 01-2025
03-2025: 1.9%● unchanged vs 02-2025
04-2025: 1.8%▼ -0.1 percentage points vs 03-2025
05-2025: 1.8%● unchanged vs 04-2025
06-2025: 1.9%▲ +0.1 percentage points vs 05-2025
07-2025: 2.2%▲ +0.3 percentage points vs 06-2025highest value
08-2025: 1.1%▼ -1.1 percentage points vs 07-2025
09-2025: 1.1%● unchanged vs 08-2025
10-2025: 1.1%● unchanged vs 09-2025
11-2025: 1.1%● unchanged vs 10-2025
12-2025: 1.1%● unchanged vs 11-2025
01-2026: 1.1%● unchanged vs 12-2025
02-2026: 1.1%● unchanged vs 01-2026
03-2026: 1.0%▼ -0.1 percentage points vs 02-2026
04-2026: 1.0%● unchanged vs 03-2026
05-2026: 1.0%● unchanged vs 04-2026
06-2026: 1.0%● unchanged vs 05-2026
07-2026: 0.9%▼ -0.1 percentage points vs 06-2026lowest value
08-2026: 0.9%● unchanged vs 07-2026lowest value
09-2026: 0.9%● unchanged vs 08-2026lowest value
10-2026: 0.9%● unchanged vs 09-2026lowest value
11-2026: 0.9%● unchanged vs 10-2026lowest value
Financial strengthAverage
Score breakdown
raises risk
Liquidity: current ratio 0.50, cash €4,117, halved
1 of the last 3 accounts late
Size: 8.7 FTE, total assets €4.8m
lowers risk
Founded in 1993
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 46, micro). It does better than 42% of them on solvency, 28% on liquidity, 59% on profitability and 44% on growth.
The bankruptcy probability was computed on 07-11-2026 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 low class on 30-06-2025, 0.8% 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, 17,041 companies had the same profile as HSL has now. Each dot stands for 43 companies, two years later.
94.4%
were still trading
4.9%
stopped another way
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of HSL itself is higher: 0.9% within 12 months. It rests on far more data about HSL than the profile alone.
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 17,041 companies, not a prediction for HSL. 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 €100,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.5 (0.54 in 2024), below 1. Short-term debt is 41% and cash 0.1% of total assets. 68.3% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 days early
2024
14 days early
2023
61 days late
2022
29 days late
2021
53 days late
2020
25 days late
2019
77 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 7 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% 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 29 August (4 of the last 5 accounts filed within 43 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
08-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- HSL HOLDING 99.84%equity €791,249 (2025) · 2025 annual accounts of HSL HOLDING
Recent changes
Company renamed from HEFTRUCK SERVICE LIMBURG to HSL
Changes of role: HSL HOLDING (director) and HSL INVEST (director) · Resignations: EGAS Edwin Johan (manager) and SCHEPER Gerard (manager) · Permanent representatives: Haesen Tom and EGAS Edwin Johan · General meeting of 22-10-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0451675154
Appointment: HSL Holding BV (director)
Permanent representative: Tom Haesen · General meeting of 15-09-2021 · Gazette deed
First establishment
HEFTRUCK SERVICE LIMBURG, Heikesveld 66, Pelt
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| HSL Pelt | €4.8m | €2.5m | 31.7% | 8.7 |
| DB & S Hooglede | €6.3m | €2.5m | -83.6% | 9.9 |
| Gödde Eupen | €3.7m | €2.0m | 66.1% | 10 |
| ROOSJEN Antwerp | €3.8m | €1.9m | 29.4% | 9.5 |
| BRN Aalst | €4.1m | €1.6m | 49.9% | 9.6 |
| DIMEX TECHNICS Lontzen | €4.4m | €2.7m | 18.0% | 14.1 |
| NIEDAX KLEINHUIS Nazareth-De Pinte | €5.0m | €2.9m | 73.3% | 14.7 |
These companies have the same main activity as HSL: wholesale of other machinery and equipment (NACE 46649). They are comparable in size and age: total assets between €3.7m and €6.3m, founded between 1990 and 1996.
Official details
Source: KBO- Status
- Active since 16-12-1993Normal situation
- Activity
- Wholesale of other machinery and equipmentNACE 46649and 2 others
- Joint committee
- 149.04Metal trade · annual accounts 2025
- Establishment unit
- 2.065.581.1483910 Pelt, since 17-02-1994
- Financial year end
- 31 December
- Peppol
- Reachable since 05-11-2025
Annual accounts 2025
- €4.8m▼ 23.7%
- Employeeson 31-12-2025
- 9▼ 10.0%
- Filing
- Filed on 30-06-2026, 31 days before the end of the filing period
Insights on HSL
HSL files the abbreviated format. That format states no turnover. The gross margin rose from €562,616 in 2006 to €2.5m in 2025.
The balance sheet grew most from 2021 to 2023 through fixed assets.
HSL HOLDING holds all the shares.
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 HSL
- What is the company number of HSL?
- The company number of HSL is 0451.675.154. The VAT number is the same number with BE in front: BE 0451.675.154.
- Where is HSL based?
- The registered office is at Heikesveld 66, 3910 Pelt.Company details
- What does HSL do?
- According to the KBO register, the main activity is wholesale of other machinery and equipment (NACE 46649).
- What is the legal form of HSL?
- HSL is a private limited company (BV).
- When was HSL founded?
- HSL was founded on 16-12-1993.
- Is HSL still active?
- Yes, HSL is an active enterprise in the KBO register.
- How many employees does HSL have?
- HSL had an average of 8.7 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does HSL fall under?
- In its 2025 annual accounts, HSL states joint committee 149.04 (Metal trade).
- What is the turnover of HSL?
- The turnover in financial year 2025 is ≈ €11.0m. This figure is estimated from the gross margin of €2.5m and 98 comparable companies (NACE 46). It probably lies between €6.4m and €18.0m.
- Is HSL profitable?
- In financial year 2025, HSL made a profit of €162,469.
- Where can I find the annual accounts of HSL?
- HSL filed 32 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of HSL due?
- HSL must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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