HSM
ActiveSummary
HSM has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €28,823 and a net result of €207,282. The figures fluctuate too strongly year-on-year for a reliable trend projection. The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+26
Solvency32▼-19
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity tight (current ratio 1.4 against 2.78 in 2023; short-term debt: 56.1% and cash: 2.6% of total assets), and 93.3% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 18-06-2026, 43 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
43 d early
2024
36 d early
2023
36 d early
2022
34 d early
2021
34 d early
2020
39 d early
2019
61 d late
← 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 23 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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. Usually files around 26 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€28,823▼ 77.6%
2023 · €128,741
Total assets
€430,099▼ 12.6%
2023 · €492,260
Net result
€207,282▲ 881%
2023 · €21,125
Working capital
€96,242▼ 64.1%
2023 · €267,824
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€2,748▼ 263%€130,044€56,465▼ 56.6%€27,436▼ 51.4%€284,443▲ 937%
Net result-€2,861below the sector's middle half▼ 197%€113,760within the sector's middle half€39,381within the sector's middle half▼ 65.4%€21,125within the sector's middle half▼ 46.4%€207,282above the sector's middle half▲ 881%
Equity-€45,525below the sector's middle half▼ 6.7%€68,235below the sector's middle half€107,616below the sector's middle half▲ 57.7%€128,741below the sector's middle half▲ 19.6%€28,823below the sector's middle half▼ 77.6%
Total assets€8,207below the sector's middle half▲ 0.9%€334,970below the sector's middle half▲ 3,982%€376,451below the sector's middle half▲ 12.4%€492,260below the sector's middle half▲ 30.8%€430,099below the sector's middle half▼ 12.6%
Debt€53,732▲ 5.8%€266,734▲ 396%€268,835▲ 0.8%€363,519▲ 35.2%€401,276▲ 10.4%
Working capital-€2,955below the sector's middle half▼ 3,030%€34,500below the sector's middle half€300,254within the sector's middle half▲ 770%€267,824within the sector's middle half▼ 10.8%€96,242within the sector's middle half▼ 64.1%
Solvency-554.7%below the sector's middle half▼ 30.1pp20.4%within the sector's middle half▲ 575.1pp28.6%within the sector's middle half▲ 8.2pp26.2%within the sector's middle half▼ 2.4pp6.7%below the sector's middle half▼ 19.5pp
Current ratio0.21below the sector's middle half▼ 0.671.17within the sector's middle half▲ 0.9646.67above the sector's middle half▲ 45.512.78within the sector's middle half▼ 43.891.40within the sector's middle half▼ 1.38
Return on assets (ROA)-34.9%below the sector's middle half▼ 23.0pp34.0%above the sector's middle half▲ 68.8pp10.5%within the sector's middle half▼ 23.5pp4.3%within the sector's middle half▼ 6.2pp48.2%above the sector's middle half▲ 43.9pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
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 recovers in 2024; 2024 is 937% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €430,099
Fixed assets
€92,581 ▲ 24.6%
Current assets
€337,517 ▼ 19.2%
Equity and liabilities €430,099
Equity
€28,823 ▼ 77.6%
Debt
€401,276 ▲ 10.4%
Debt's share of the balance-sheet total rises from 73.8% to 93.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€303,712▲
2023 · €41,178
Cash flow
€226,552▲
2023 · €34,866
Debt to equity
13.92▲
2023 · 2.82
ROE
719.2%▲
2023 · 16.4%
Interest coverage
336.54▲
2023 · 10.65
Debt ≤ 1 year
€241,276▲
2023 · €150,139
Debt > 1 year
€160,000▼
2023 · €210,485
Income taxes
€78,445▲
2023 · €7,000
Staff costs
€1,452▲
2023 · €666
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,325 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
1.4%
went bankrupt
3.2%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
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 1,325 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €943 | - | €5,600 | €13,500 | ▲ 141% |
| Remuneration, social security and pensions62 | - | €1,748 | €412 | €666 | €1,452 | ▲ 118% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €11,515 | €13,117 | €13,742 | €19,269 | ▲ 40.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €2,328 | - |
| Other operating charges640/8 | - | €812 | €1,360 | €1,859 | €2,662 | ▲ 43.2% |
| Non-recurring operating charges66A | - | - | €11,236 | - | - | - |
| Gross operating margin9900 | -€1,881 | €144,120 | €82,589 | €43,704 | €310,154 | ▲ 610% |
| Operating profit (loss)9901 | -€2,748 | €130,044 | €56,465 | €27,436 | €284,443 | ▲ 937% |
| Financial income75/76B | - | €145 | €1,490 | €4,554 | €2,186 | ▼ 52.0% |
| Recurring financial income75 | - | €145 | €1,490 | €4,554 | €2,186 | ▼ 52.0% |
| Financial charges65/66B | - | €1,229 | €6,324 | €3,866 | €902 | ▼ 76.7% |
| Recurring financial charges65 | €113 | €1,229 | €6,324 | €3,866 | €902 | ▼ 76.7% |
| Profit (loss) for the period before taxes9903 | -€2,861 | €128,960 | €51,630 | €28,125 | €285,727 | ▲ 916% |
| Income taxes67/77 | - | €15,200 | €12,249 | €7,000 | €78,445 | ▲ 1,021% |
| Profit (loss) for the period9904 | -€2,861 | €113,760 | €39,381 | €21,125 | €207,282 | ▲ 881% |
| Profit (loss) for the period to be appropriated9905 | -€2,861 | €113,760 | €39,381 | €21,125 | €207,282 | ▲ 881% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €8,207 | €334,970 | €376,451 | €492,260 | €430,099 | ▼ 12.6% |
| Fixed assets21/28 | €7,430 | €94,737 | €69,623 | €74,297 | €92,581 | ▲ 24.6% |
| Intangible fixed assets21 | - | €15,750 | €14,000 | €12,250 | €10,500 | ▼ 14.3% |
| Tangible fixed assets22/27 | €7,430 | €78,987 | €55,623 | €62,047 | €82,081 | ▲ 32.3% |
| Plant, machinery and equipment23 | - | €21,494 | €26,362 | €45,264 | €63,456 | ▲ 40.2% |
| Furniture and vehicles24 | - | €27,631 | €4,833 | €8,185 | €10,392 | ▲ 27.0% |
| Leasing and similar rights25 | - | €19,200 | €14,400 | - | - | - |
| Other tangible fixed assets26 | - | €10,662 | €10,028 | €8,598 | €8,233 | ▼ 4.2% |
| Current assets29/58 | €776 | €240,233 | €306,828 | €417,963 | €337,517 | ▼ 19.2% |
| Amounts receivable within one year40/41 | €702 | €137,915 | €266,549 | €316,735 | €322,230 | ▲ 1.7% |
| Trade receivables40 | - | €91,491 | €122,970 | €153,818 | €294,906 | ▲ 91.7% |
| Other amounts receivable41 | - | €46,424 | €143,580 | €162,917 | €27,324 | ▼ 83.2% |
| Cash at bank and in hand54/58 | €74 | €100,859 | €38,223 | €97,659 | €11,224 | ▼ 88.5% |
| Deferred charges and accrued income490/1 | - | €1,458 | €2,055 | €3,569 | €4,064 | ▲ 13.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €8,207 | €334,970 | €376,451 | €492,260 | €430,099 | ▼ 12.6% |
| Equity10/15 | -€45,525 | €68,235 | €107,616 | €128,741 | €28,823 | ▼ 77.6% |
| Contributions10/11 | - | €8,860 | €8,860 | €8,860 | €8,860 | = |
| Reserves13 | - | €59,290 | €98,690 | €119,790 | €19,790 | ▼ 83.5% |
| Distributable reserves133 | - | €59,290 | €98,690 | €119,790 | €19,790 | ▼ 83.5% |
| Profit (loss) carried forward14 | -€54,385 | €85 | €66 | €91 | €173 | ▲ 90.3% |
| Amounts payable17/49 | €53,732 | €266,734 | €268,835 | €363,519 | €401,276 | ▲ 10.4% |
| Amounts payable after more than one year17 | €50,000 | €60,184 | €256,886 | €210,485 | €160,000 | ▼ 24.0% |
| Financial debts170/4 | - | €60,184 | €256,886 | €210,485 | €160,000 | ▼ 24.0% |
| Amounts payable within one year42/48 | €3,732 | €205,733 | €6,574 | €150,139 | €241,276 | ▲ 60.7% |
| Current portion of amounts payable after more than one year42 | - | €3,202 | €3,298 | - | - | - |
| Trade debts44 | €1,630 | €102,974 | - | €131,861 | €85,048 | ▼ 35.5% |
| Suppliers440/4 | - | €102,974 | - | €131,861 | €85,048 | ▼ 35.5% |
| Taxes, remuneration and social security45 | - | - | - | €16,743 | €79,122 | ▲ 373% |
| Taxes450/3 | - | - | - | €16,743 | €79,122 | ▲ 373% |
| Other amounts payable47/48 | - | €99,556 | €3,276 | €1,534 | €77,106 | ▲ 4,925% |
| Accrued charges and deferred income492/3 | - | €818 | €5,375 | €2,895 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,861 | €113,760 | €39,381 | €21,125 | €207,282 | ▲ 881% |
| + Depreciation and write-downs630 | - | €11,515 | €13,117 | €13,742 | €19,269 | ▲ 40.2% |
| Operating cash flow (approximation) | -€2,861 | €125,276 | €52,498 | €34,866 | €226,552 | ▲ 550% |
| Investment in fixed assets (approximation) | - | -€98,822 | €11,997 | -€18,416 | -€37,554 | ▼ 104% |
| Change in cash | - | €100,785 | -€62,636 | €59,435 | -€86,435 | ▼ 245% |
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
18-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €207,282 ▲881%
Operating result €284,443, net result €207,282, both a record.
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Liquidity times 40current ratio 46.67
Current ratio from 1.17 to 46.67; short-term debt falls from €205,733 to €6,574.
31-12
Financial
Equity above €100,000Eq €107,616 ▲57.7%
2 profitable years in a row build equity to €107,616.
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €113,760
Net result €113,760 after 3 loss-making years.
31-12
Financial
Liquidity times 6current ratio 1.17
Current ratio from 0.21 to 1.17.
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet -€2,861
Net result drops to -€2,861, the lowest in the series; recovery starts the following year.
Show earlier events
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 61 days late
2019
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
2018
14-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 14 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
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, Mol · 1 establishment unit since 2009
Ground area
544 m²
Building footprint
160 m²
Volume, LiDAR
604 m³
Parcel 13025G0365/00L002, Flanders · tallest building 6.3 m, ±1 floor. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
HSM
since 20092.181.821.196
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13025G0365/00L002 | Flanders | 544 m² | 1 · 160 m² | 6.3 m · 1 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.
Structure & network
Owners and holdings
1 ownerOwners 1
- S & Sparent99%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 151 companies in sector 46644 we hold annual accounts for 114. 37 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
Founded07-09-2009
Fiscal year end31-12
Activities, NACEBEL 2025
46644Wholesale trade
33120Repair and maintenance of machinery
43350Other building finishing work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0818524107
Also
9925:BE0818524107
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.