HSZ
ActiveSummary
HSZ has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €37,711 and a net result of €3,957. Equity remains stable across the filed fiscal years (±0.8% per year). Its solvency ranks better than 67% of 4695 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability75▲+6
Solvency74▲+3
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days acceptable
Liquidity tight (current ratio 1.38 against 1.41 in 2024; short-term debt: 50.7% and cash: 31.9% of total assets), and 50.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers 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
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
49.3%
Return on assets
5.2%
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 €37,711
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 29-04-2026, 93 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
93 d early
2024
118 d early
2023
2 d early
2022
6 d early
2021
4 d early
2020
11 d early
2019
10 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 32 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 48% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#9 oldest company in Herent, Other services sector
Equity
€37,711▲ 11.7%
2024 · €33,754
Total assets
€76,471▲ 4.8%
2024 · €72,999
Net result
€3,957▲ 2,296%
2024 · €165
Working capital
€14,722▼ 8.0%
2024 · €15,996
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 96, Personal service activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€15,611▲ 32.5%-€114▲ 99.3%€4,465€313▼ 93.0%€4,614▲ 1,376%
Net result-€4,270within the sector's middle half▲ 65.1%-€287within the sector's middle half▲ 93.3%€4,292within the sector's middle half€165within the sector's middle half▼ 96.2%€3,957within the sector's middle half▲ 2,296%
Equity€29,584within the sector's middle half▼ 12.6%€29,297within the sector's middle half▼ 1.0%€33,589within the sector's middle half▲ 14.7%€33,754within the sector's middle half▲ 0.5%€37,711within the sector's middle half▲ 11.7%
Total assets€68,240within the sector's middle half▲ 8.6%€67,858within the sector's middle half▼ 0.6%€77,984within the sector's middle half▲ 14.9%€72,999within the sector's middle half▼ 6.4%€76,471within the sector's middle half▲ 4.8%
Debt€38,656▲ 33.5%€38,561▼ 0.2%€44,395▲ 15.1%€39,245▼ 11.6%€38,760▼ 1.2%
Working capital€18,289▼ 6.7%€11,184▼ 38.8%€17,145▲ 53.3%€15,996▼ 6.7%€14,722▼ 8.0%
Solvency43.4%within the sector's middle half▼ 10.5pp43.2%within the sector's middle half▼ 0.2pp43.1%within the sector's middle half▼ 0.1pp46.2%within the sector's middle half▲ 3.2pp49.3%within the sector's middle half▲ 3.1pp
Staff (FTE)5.3=4.9▼ 7.5%4.7▼ 4.1%3.4▼ 27.7%3.3▼ 2.9%
above
within
below
the middle half (P25 to P75) of NACE 96, Personal service activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 1,376% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €76,471
Fixed assets
€22,988 ▲ 29.5%
Current assets
€53,482 ▼ 3.2%
Equity and liabilities €76,471
Equity
€37,711 ▲ 11.7%
Debt
€38,760 ▼ 1.2%
Debt's share of the balance-sheet total falls from 53.8% to 50.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€6,929▲
2024 · €2,241
Cash flow
€6,272▲
2024 · €2,094
Current ratio
1.38▼
2024 · 1.41
Quick ratio
0.63▲
2024 · 0.60
Debt to equity
1.03▼
2024 · 1.16
ROE
10.5%▲
2024 · 0.5%
ROA
5.2%▲
2024 · 0.2%
Interest coverage
26.43▲
2024 · 13.12
Debt ≤ 1 year
€38,760▼
2024 · €39,245
Income taxes
€396
Staff costs
€140,700▼
2024 · €172,966
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
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 0.4% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 31,324 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €109,765 | €134,823 | €166,836 | €172,966 | €140,700 | ▼ 18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,567 | €3,582 | €2,768 | €1,928 | €2,315 | ▲ 20.0% |
| Other operating charges640/8 | €3,032 | €3,054 | €6,558 | €3,955 | €4,080 | ▲ 3.1% |
| Gross operating margin9900 | €100,753 | €141,346 | €180,627 | €179,163 | €151,708 | ▼ 15.3% |
| Operating profit (loss)9901 | -€15,611 | -€114 | €4,465 | €313 | €4,614 | ▲ 1,376% |
| Financial income75/76B | €11,502 | - | €0 | €23 | €1 | ▼ 96.6% |
| Recurring financial income75 | €11,502 | - | €0 | €23 | €1 | ▼ 96.6% |
| Financial charges65/66B | €161 | €173 | €173 | €171 | €262 | ▲ 53.5% |
| Recurring financial charges65 | €161 | €173 | €173 | €171 | €262 | ▲ 53.5% |
| Profit (loss) for the period before taxes9903 | -€4,270 | -€287 | €4,292 | €165 | €4,352 | ▲ 2,536% |
| Income taxes67/77 | - | - | - | - | €396 | - |
| Profit (loss) for the period9904 | -€4,270 | -€287 | €4,292 | €165 | €3,957 | ▲ 2,296% |
| Profit (loss) for the period to be appropriated9905 | -€4,270 | -€287 | €4,292 | €165 | €3,957 | ▲ 2,296% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €68,240 | €67,858 | €77,984 | €72,999 | €76,471 | ▲ 4.8% |
| Fixed assets21/28 | €11,295 | €18,113 | €16,444 | €17,758 | €22,988 | ▲ 29.5% |
| Tangible fixed assets22/27 | €5,210 | €12,028 | €10,359 | €11,673 | €16,903 | ▲ 44.8% |
| Plant, machinery and equipment23 | €5,210 | €12,028 | €10,359 | €11,673 | €16,903 | ▲ 44.8% |
| Financial fixed assets28 | €6,085 | €6,085 | €6,085 | €6,085 | €6,085 | = |
| Current assets29/58 | €56,945 | €49,745 | €61,540 | €55,241 | €53,482 | ▼ 3.2% |
| Stocks and contracts in progress3 | €31,404 | €27,664 | €31,122 | €31,800 | €29,061 | ▼ 8.6% |
| Stocks30/36 | €31,404 | €27,664 | €31,122 | €31,800 | €29,061 | ▼ 8.6% |
| Amounts receivable within one year40/41 | - | - | - | €445 | €0 | ▼ 100% |
| Trade receivables40 | - | - | - | €445 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €25,541 | €20,217 | €30,418 | €22,997 | €24,422 | ▲ 6.2% |
| Deferred charges and accrued income490/1 | - | €1,864 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €68,240 | €67,858 | €77,984 | €72,999 | €76,471 | ▲ 4.8% |
| Equity10/15 | €29,584 | €29,297 | €33,589 | €33,754 | €37,711 | ▲ 11.7% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Outside capital11 | €18,600 | - | - | - | - | - |
| Other1109/19 | €18,600 | - | - | - | - | - |
| Reserves13 | €18,506 | €18,506 | €18,506 | €15,106 | €19,063 | ▲ 26.2% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | €16,646 | €16,646 | €18,506 | €15,106 | €19,063 | ▲ 26.2% |
| Profit (loss) carried forward14 | -€7,522 | -€7,809 | -€3,517 | €48 | €48 | = |
| Amounts payable17/49 | €38,656 | €38,561 | €44,395 | €39,245 | €38,760 | ▼ 1.2% |
| Amounts payable within one year42/48 | €38,656 | €38,561 | €44,395 | €39,245 | €38,760 | ▼ 1.2% |
| Trade debts44 | €7,050 | €8,771 | €6,376 | €3,898 | €1,078 | ▼ 72.4% |
| Suppliers440/4 | €7,050 | €8,771 | €6,376 | €3,898 | €1,078 | ▼ 72.4% |
| Taxes, remuneration and social security45 | €13,239 | €11,468 | €13,150 | €13,674 | €16,009 | ▲ 17.1% |
| Taxes450/3 | €5,309 | €2,960 | €6,334 | €4,405 | €12,131 | ▲ 175% |
| Remuneration and social security454/9 | €7,929 | €8,508 | €6,816 | €9,269 | €3,878 | ▼ 58.2% |
| Other amounts payable47/48 | €18,368 | €18,322 | €24,869 | €21,673 | €21,673 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,270 | -€287 | €4,292 | €165 | €3,957 | ▲ 2,296% |
| + Depreciation and write-downs630 | €3,567 | €3,582 | €2,768 | €1,928 | €2,315 | ▲ 20.0% |
| Operating cash flow (approximation) | -€703 | €3,295 | €7,060 | €2,094 | €6,272 | ▲ 200% |
| Investment in fixed assets (approximation) | - | -€10,400 | -€1,099 | -€3,242 | -€7,546 | ▼ 133% |
| Change in cash | - | -€5,324 | €10,201 | -€7,421 | €1,425 | ▲ 119% |
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
29-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
04-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €4,292
Net result €4,292 after 3 loss-making years.
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€12,252
Net result drops to -€12,252, the lowest in the series; recovery starts the following year.
10-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 10 days late
2019
31-12
Financial
Highest result since 2018net €14,328 ▲80.1%
Operating result €15,137, net result €14,328, both a record.
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Herent · 1 establishment unit since 2004
Ground area
1,364 m²
Building footprint
213 m²
Volume, LiDAR
1,814 m³
Parcel 24423G0401/00B018, Flanders · tallest building 12.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
HSZ
since 20042.137.418.754
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24423G0401/00B018 | Flanders | 1,364 m² | 1 · 213 m² | 12.5 m · 3 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 22,271 EUR awarded · 22,271 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 269 EUR | 269 EUR |
| 2024 | 1 | 9,261 EUR | 9,261 EUR |
| 2023 | 2 | 12,241 EUR | 12,241 EUR |
| 2022 | 1 | 500 EUR | 500 EUR |
Recognitions · licences · registrations
Dual-learning approval
3 live approvals · 3 endedHaarverzorging duaal (so)
Kapper (vwo)
Kapper-stylist duaal (so)
Show 3 ended approvals
Kapper (so)
Kapper-salonverantwoordelijke (so)
Kapper (so)
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Of 21,734 companies in sector 96210 we hold annual accounts for 2,835. 2,233 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
Founded08-04-2004
Fiscal year end31-12
Activities, NACEBEL 2025
96210Hairdressing and barber services
47770Retail sale of watches and jewellery
E-invoicing
Reachable via Peppol
Peppol ID
0208:0864604154
Also
9925:BE0864604154
Registered
25-02-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.