HTCDESIGN
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 25 days after the deadline Filed on 25 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00423990.
Annual accounts 2025 filed on 25-08-2026 at the NBB all 24 filings
Turnover
≈ €130,000
Estimated: probably between €87,000 and €280,000
Total assets
€148,805▲ 41.2%
2024 · €105,419
Net result
€5,723▲ 143%
2024 · €2,351
Working capital
-€111,269▼ 105%
2024 · -€54,205
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€7,155
▲ 187%
2025
20182025
Net result
€5,723
▲ 143%
2025
middle half of the sector
20182025
Equity
€36,238
▲ 18.8%
2025
middle half of the sector
20182025
Total assets
€148,805
▲ 41.2%
2025
middle half of the sector
20182025
Debt
€112,568
▲ 50.3%
2025
20182025
Working capital
-€111,269
▼ 105%
2025
lowest quarter of the sector
20182025
Solvency
24.4%
▼ 4.6pp
2025
middle half of the sector
20182025
Current ratio
0.01
▼ 0.26
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
3.8%
▲ 1.6pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€3,409--€3,670-€9,199▼ 151%-€2,613▲ 71.6%-€2,113▲ 19.1%-€568▲ 73.1%€2,497€7,155▲ 187%
Net result€1,120--€5,354-€10,653below the sector's middle half▼ 99.0%-€3,946below the sector's middle half▲ 63.0%-€3,292below the sector's middle half▲ 16.6%-€857below the sector's middle half▲ 74.0%€2,351within the sector's middle half€5,723within the sector's middle half▲ 143%
Equity€87,266-€46,912▼ 46.2%€36,258within the sector's middle half▼ 22.7%€32,312within the sector's middle half▼ 10.9%€29,020within the sector's middle half▼ 10.2%€28,163within the sector's middle half▼ 3.0%€30,515within the sector's middle half▲ 8.3%€36,238within the sector's middle half▲ 18.8%
Total assets€134,757-€98,129▼ 27.2%€94,076within the sector's middle half▼ 4.1%€85,668within the sector's middle half▼ 8.9%€87,313within the sector's middle half▲ 1.9%€90,914within the sector's middle half▲ 4.1%€105,419within the sector's middle half▲ 16.0%€148,805within the sector's middle half▲ 41.2%
Debt€47,491-€51,217▲ 7.8%€57,818▲ 12.9%€53,356▼ 7.7%€58,292▲ 9.3%€62,751▲ 7.6%€74,904▲ 19.4%€112,568▲ 50.3%
Working capital-€7,190--€47,255▼ 557%-€52,959below the sector's middle half▼ 12.1%-€52,026below the sector's middle half▲ 1.8%-€56,422below the sector's middle half▼ 8.4%-€61,875below the sector's middle half▼ 9.7%-€54,205below the sector's middle half▲ 12.4%-€111,269below the sector's middle half▼ 105%
Solvency64.8%-47.8%▼ 17.0pp38.5%within the sector's middle half▼ 9.3pp37.7%within the sector's middle half▼ 0.8pp33.2%within the sector's middle half▼ 4.5pp31.0%within the sector's middle half▼ 2.3pp28.9%within the sector's middle half▼ 2.0pp24.4%within the sector's middle half▼ 4.6pp
Current ratio0.84-0.08▼ 0.770.08below the sector's middle half▲ 0.010.02below the sector's middle half▼ 0.060.03below the sector's middle half▲ 0.010.01below the sector's middle half▼ 0.020.28below the sector's middle half▲ 0.260.01below the sector's middle half▼ 0.26
Return on assets (ROA)0.8%--5.5%▼ 6.3pp-11.3%below the sector's middle half▼ 5.9pp-4.6%below the sector's middle half▲ 6.7pp-3.8%below the sector's middle half▲ 0.8pp-0.9%below the sector's middle half▲ 2.8pp2.2%within the sector's middle half▲ 3.2pp3.8%within the sector's middle half▲ 1.6pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 187% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €148,805
Fixed assets
€147,507 ▲ 74.1%
Current assets
€1,299 ▼ 93.7%
Equity and liabilities €148,805
Equity
€36,238 ▲ 18.8%
Debt
€112,568 ▲ 50.3%
Debt's share of the balance-sheet total rises from 71.1% to 75.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€13,440▲
2024 · €8,328
Cash flow
€12,007▲
2024 · €8,182
Debt to equity
3.11▲
2024 · 2.45
ROE
15.8%▲
2024 · 7.7%
Interest coverage
over 100▲
2024 · 56.75
Debt ≤ 1 year
€112,568▲
2024 · €74,904
Income taxes
€1,388
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €6,050 | €10,283 | €12,643 | €69,072 |
| Depreciation and write-downs of the year | €4,879 | €4,946 | €5,686 | €5,831 | €6,284 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €2,765 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,214 | €5,631 | €5,525 | €4,879 | €4,946 | €5,686 | €5,831 | €6,284 | ▲ 7.8% |
| Other operating charges640/8 | - | - | - | €2,934 | €3,400 | €3,136 | €2,750 | €2,676 | ▼ 2.7% |
| Gross operating margin9900 | €11,234 | €4,075 | €431 | €5,201 | €6,232 | €8,254 | €11,078 | €16,116 | ▲ 45.5% |
| Operating profit (loss)9901 | €3,409 | -€3,670 | -€9,199 | -€2,613 | -€2,113 | -€568 | €2,497 | €7,155 | ▲ 187% |
| Financial income75/76B | - | - | - | €0 | - | €12 | €1 | €0 | ▼ 77.7% |
| Recurring financial income75 | - | - | €0 | €0 | - | €12 | €1 | €0 | ▼ 77.7% |
| Financial charges65/66B | - | - | - | €1,334 | €1,178 | €300 | €147 | €45 | ▼ 69.3% |
| Recurring financial charges65 | €2,289 | €1,685 | €1,455 | €1,334 | €1,178 | €300 | €147 | €45 | ▼ 69.3% |
| Profit (loss) for the period before taxes9903 | €1,120 | -€5,354 | -€10,653 | -€3,946 | -€3,292 | -€857 | €2,351 | €7,111 | ▲ 202% |
| Income taxes67/77 | - | - | - | - | - | - | - | €1,388 | - |
| Profit (loss) for the period9904 | €1,120 | -€5,354 | -€10,653 | -€3,946 | -€3,292 | -€857 | €2,351 | €5,723 | ▲ 143% |
| Profit (loss) for the period to be appropriated9905 | €1,120 | -€5,354 | -€10,653 | -€3,946 | -€3,292 | -€857 | €2,351 | €5,723 | ▲ 143% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €134,757 | €98,129 | €94,076 | €85,668 | €87,313 | €90,914 | €105,419 | €148,805 | ▲ 41.2% |
| Fixed assets21/28 | €96,092 | €94,166 | €89,217 | €84,338 | €85,442 | €90,038 | €84,719 | €147,507 | ▲ 74.1% |
| Tangible fixed assets22/27 | €96,092 | €94,166 | €89,217 | €84,338 | €85,442 | €90,038 | €84,719 | €147,507 | ▲ 74.1% |
| Land and buildings22 | - | - | - | €80,559 | €78,395 | €84,550 | €80,380 | €144,358 | ▲ 79.6% |
| Plant, machinery and equipment23 | - | - | - | €1,848 | €108 | €65 | €22 | €451 | ▲ 20× |
| Furniture and vehicles24 | - | - | - | €1,931 | €6,939 | €5,423 | €4,317 | €2,698 | ▼ 37.5% |
| Current assets29/58 | €38,665 | €3,962 | €4,859 | €1,330 | €1,871 | €876 | €20,700 | €1,299 | ▼ 93.7% |
| Amounts receivable within one year40/41 | €1,185 | €3,717 | €2,613 | €886 | €1,730 | €862 | €18,025 | - | - |
| Trade receivables40 | - | - | - | - | €844 | - | €18,025 | - | - |
| Other amounts receivable41 | - | - | - | €886 | €886 | €862 | - | - | - |
| Cash at bank and in hand54/58 | €37,480 | €245 | €2,246 | €444 | €141 | €14 | €1,827 | €1,299 | ▼ 28.9% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | €848 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €134,757 | €98,129 | €94,076 | €85,668 | €87,313 | €90,914 | €105,419 | €148,805 | ▲ 41.2% |
| Equity10/15 | €87,266 | €46,912 | €36,258 | €32,312 | €29,020 | €28,163 | €30,515 | €36,238 | ▲ 18.8% |
| Contributions10/11 | €65,000 | - | - | €30,000 | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Reserves13 | €16,500 | €16,500 | €16,500 | €16,500 | €16,500 | €16,500 | €16,500 | €16,500 | = |
| Non-distributable reserves130/1 | - | - | - | €6,500 | €6,500 | €6,500 | €6,500 | €6,500 | = |
| Reserves not available under the articles1311 | - | - | - | €6,500 | €6,500 | €6,500 | €6,500 | €6,500 | = |
| Distributable reserves133 | - | - | - | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Profit (loss) carried forward14 | €5,766 | €412 | -€10,242 | -€14,188 | -€17,480 | -€18,337 | -€15,985 | -€10,262 | ▲ 35.8% |
| Amounts payable17/49 | €47,491 | €51,217 | €57,818 | €53,356 | €58,292 | €62,751 | €74,904 | €112,568 | ▲ 50.3% |
| Amounts payable within one year42/48 | €45,855 | €51,217 | €57,818 | €53,356 | €58,292 | €62,751 | €74,904 | €112,568 | ▲ 50.3% |
| Trade debts44 | €2,019 | €4,005 | €4,860 | €1,401 | €2,653 | €1,980 | €1,621 | €1,057 | ▼ 34.8% |
| Suppliers440/4 | - | - | - | €1,401 | €2,653 | €1,980 | €1,621 | €1,057 | ▼ 34.8% |
| Taxes, remuneration and social security45 | - | - | - | €376 | €220 | - | €1,113 | €5,172 | ▲ 365% |
| Taxes450/3 | - | - | - | €376 | €220 | - | €1,113 | €5,172 | ▲ 365% |
| Other amounts payable47/48 | - | - | - | €51,579 | €55,420 | €60,771 | €72,170 | €106,338 | ▲ 47.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,120 | -€5,354 | -€10,653 | -€3,946 | -€3,292 | -€857 | €2,351 | €5,723 | ▲ 143% |
| + Depreciation and write-downs630 | €5,214 | €5,631 | €5,525 | €4,879 | €4,946 | €5,686 | €5,831 | €6,284 | ▲ 7.8% |
| Operating cash flow (approximation) | €6,333 | €277 | -€5,128 | €933 | €1,654 | €4,829 | €8,182 | €12,007 | ▲ 46.8% |
| Investment in fixed assets (approximation) | - | -€3,706 | -€576 | €0 | -€6,050 | -€10,283 | -€512 | -€69,072 | ▼ 13,391% |
| Change in cash | - | -€37,234 | €2,001 | -€1,802 | -€303 | -€127 | €1,813 | -€528 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 3,984 companies had the same profile as HTCDESIGN has now. Two years later, 96.5% were still going and 1.1% had gone bankrupt.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
96.5%
was still going
2.3%
stopped otherwise
1.1%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of HTCDESIGN itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,446 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 3,984 companies, not a prediction for HTCDESIGN. 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.
Latest 10 of 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 25-08-2026 | 2026-00423990 | |
| 31-12-2024 | micro format | 25-08-2025 | 2025-00401221 | |
| 31-12-2023 | micro format | 28-07-2024 | 2024-00306575 | |
| 31-12-2022 | micro format | 24-08-2023 | 2023-00356002 | |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20381412 | |
| 31-12-2020 | micro format | 30-08-2021 | 2021-57000349 | |
| 31-12-2019 | micro format | 30-10-2020 | 2020-66700369 | |
| 31-12-2018 | micro format | 29-08-2019 | 2019-56200402 | |
| 31-12-2017 | micro format | 29-08-2018 | 2018-54000172 | |
| 31-12-2016 | micro format | 16-08-2017 | 2017-44100391 |