HUBERT COURCELLES
ActiveSummary
HUBERT COURCELLES has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €293k and a net result of €198k. Equity is growing by ~13.2% per year across the filed fiscal years. Its solvency ranks better than 58% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+10
Solvency80▼-10
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €24k at 30 days acceptable
Liquidity ample (current ratio 2.01 against 2.61 in 2024; short-term debt: 42.2% and cash: 41.5% of total assets), and 45.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
54.7%
Return on assets
37%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-09-2026, 52 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
52 d late
2024
20 d early
2023
29 d early
2022
10 d late
2021
30 d late
2020
32 d early
2019
31 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€198k▲ 211%
2024 · €64k
2018: €98k
2019: €68k▼ -30.1% vs 2018
2020: €115k▲ +68.6% vs 2019
2021: €72k▼ -37.7% vs 2020
2022: €146k▲ +103% vs 2021
2023: €119k▼ -18.3% vs 2022
2024: €64k▼ -46.8% vs 2023lowest in 8 years
2025: €198k▲ +211% vs 2024highest in 8 years
2018 → 2025
Working capital
€228k▲ 7.6%
2024 · €212k
2018: €97k
2019: €101k▲ +4.4% vs 2018
2020: €69k▼ -31.3% vs 2019lowest in 8 years
2021: €104k▲ +50.0% vs 2020
2022: €147k▲ +41.1% vs 2021
2023: €200k▲ +36.0% vs 2022
2024: €212k▲ +5.9% vs 2023
2025: €228k▲ +7.6% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€156k-€202k▲ 29.6%€242k▲ 19.5%€245k▲ 1.5%€293k▲ 19.4%
2021: €156klowest in 5 years
2022: €202k▲ +29.6% vs 2021
2023: €242k▲ +19.5% vs 2022
2024: €245k▲ +1.5% vs 2023
2025: €293k▲ +19.4% vs 2024highest in 5 years
Operating result€78k-€166k▲ 113%€150k▼ 9.5%€68k▼ 54.4%€221k▲ 222%
2021: €78k
2022: €166k▲ +113% vs 2021
2023: €150k▼ -9.5% vs 2022
2024: €68k▼ -54.4% vs 2023lowest in 5 years
2025: €221k▲ +222% vs 2024highest in 5 years
Net result€72k-€146k▲ 103%€119k▼ 18.3%€64k▼ 46.8%€198k▲ 211%
2021: €72k
2022: €146k▲ +103% vs 2021
2023: €119k▼ -18.3% vs 2022
2024: €64k▼ -46.8% vs 2023lowest in 5 years
2025: €198k▲ +211% vs 2024highest in 5 years
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 222% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €535k
Fixed assets
€81k ▲ 129%
Current assets
€453k ▲ 32.0%
Equity and liabilities €535k
Equity
€293k ▲ 19.4%
Debt
€242k ▲ 80.8%
Debt's share of the balance-sheet total rises from 35.3% to 45.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€243k▲
2024 · €94k
Cash flow
€220k▲
2024 · €89k
Current ratio
2.01▼
2024 · 2.61
Quick ratio
1.94▼
2024 · 2.49
Debt to equity
0.83▲
2024 · 0.55
ROE
67.5%▲
2024 · 25.9%
ROA
37.0%▲
2024 · 16.8%
Interest coverage
372.46▲
2024 · 32.83
Debt ≤ 1 year
€225k▲
2024 · €132k
Debt > 1 year
€16k▲
2024 · €2k
Income taxes
€23k▲
2024 · €2k
Staff costs
€184k▼
2024 · €191k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 55 lines
Balance sheet
Code20242025
Assets
Total assets20/58€379k€535k▲
Fixed assets21/28€35k€81k▲
Tangible fixed assets22/27€35k€79k▲
Land and buildings22€2k€2k▼
Plant, machinery and equipment23€7k€17k▲
Furniture and vehicles24€27k€60k▲
Financial fixed assets28€79€3k▲
Current assets29/58€343k€453k▲
Stocks and contracts in progress3€16k€16k=
Stocks30/36€16k€16k=
Amounts receivable within one year40/41€155k€215k▲
Trade receivables40€111k€110k▼
Other amounts receivable41€44k€106k▲
Cash at bank and in hand54/58€172k€222k▲
Deferred charges and accrued income490/1€787€557▼
Equity and liabilities
Total equity and liabilities10/49€379k€535k▲
Equity10/15€245k€293k▲
Contributions10/11€6k€6k=
Reserves13€239k€287k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€237k€285k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€134k€242k▲
Amounts payable after more than one year17€2k€16k▲
Financial debts170/4€2k€16k▲
Amounts payable within one year42/48€132k€225k▲
Current portion of amounts payable after more than one year42€9k€8k▼
Trade debts44€47k€33k▼
Suppliers440/4€47k€33k▼
Advances received on contracts in progress46€500€500=
Taxes, remuneration and social security45€15k€33k▲
Taxes450/3€2k€15k▲
Remuneration and social security454/9€13k€19k▲
Other amounts payable47/48€60k€150k▲
Accrued charges and deferred income492/3€105€154▲
Income statement
Code20242025
Remuneration, social security and pensions62€191k€184k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€26k€22k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€461
Other operating charges640/8€2k€2k▲
Gross operating margin9900€287k€429k▲
Operating profit (loss)9901€68k€221k▲
Financial income75/76B€278€567▲
Recurring financial income75€278€567▲
Financial charges65/66B€3k€653▼
Recurring financial charges65€3k€653▼
Profit (loss) for the period before taxes9903€66k€221k▲
Income taxes67/77€2k€23k▲
Profit (loss) for the period9904€64k€198k▲
Profit (loss) for the period to be appropriated9905€64k€198k▲
Appropriation of the result
Profit (loss) to be appropriated9906€64k€198k▲
Transfer to equity691/2€4k€48k▲
To other reserves6921€4k€48k▲
Profit to be distributed694/7€60k€150k▲
Directors or managers695€60k€150k▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €39 | €2k | €0 | - | - | - |
| Remuneration, social security and pensions62 | €144k | €155k | €181k | €191k | €184k | ▼ 4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30k | €32k | €33k | €26k | €22k | ▼ 13.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €461 | - |
| Other operating charges640/8 | €2k | €2k | €2k | €2k | €2k | ▲ 14.8% |
| Non-recurring operating charges66A | €3k | €0 | - | - | - | - |
| Gross operating margin9900 | €257k | €355k | €366k | €287k | €429k | ▲ 49.4% |
| Operating profit (loss)9901 | €78k | €166k | €150k | €68k | €221k | ▲ 222% |
| Financial income75/76B | €2k | €6k | €883 | €278 | €567 | ▲ 104% |
| Recurring financial income75 | €2k | €6k | €883 | €278 | €567 | ▲ 104% |
| Financial charges65/66B | €6k | €3k | €3k | €3k | €653 | ▼ 77.3% |
| Recurring financial charges65 | €6k | €3k | €3k | €3k | €653 | ▼ 77.3% |
| Profit (loss) for the period before taxes9903 | €74k | €170k | €148k | €66k | €221k | ▲ 235% |
| Income taxes67/77 | €2k | €24k | €29k | €2k | €23k | ▲ 881% |
| Profit (loss) for the period9904 | €72k | €146k | €119k | €64k | €198k | ▲ 211% |
| Transfer from tax-exempt reserves789 | €0 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €72k | €146k | €119k | €64k | €198k | ▲ 211% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €581k | €437k | €476k | €379k | €535k | ▲ 41.1% |
| Fixed assets21/28 | €70k | €80k | €53k | €35k | €81k | ▲ 129% |
| Tangible fixed assets22/27 | €69k | €80k | €53k | €35k | €79k | ▲ 122% |
| Land and buildings22 | €4k | €3k | €2k | €2k | €2k | ▼ 14.8% |
| Plant, machinery and equipment23 | €333 | €3k | €5k | €7k | €17k | ▲ 140% |
| Furniture and vehicles24 | €63k | €74k | €46k | €27k | €60k | ▲ 127% |
| Assets under construction and advance payments27 | €2k | €0 | - | - | - | - |
| Financial fixed assets28 | €79 | €79 | €79 | €79 | €3k | ▲ 3,504% |
| Current assets29/58 | €511k | €357k | €423k | €343k | €453k | ▲ 32.0% |
| Stocks and contracts in progress3 | €60k | €68k | €17k | €16k | €16k | = |
| Stocks30/36 | €60k | €68k | €17k | €16k | €16k | = |
| Amounts receivable within one year40/41 | €123k | €136k | €157k | €155k | €215k | ▲ 38.8% |
| Trade receivables40 | €90k | €121k | €143k | €111k | €110k | ▼ 1.4% |
| Other amounts receivable41 | €33k | €15k | €14k | €44k | €106k | ▲ 140% |
| Cash at bank and in hand54/58 | €327k | €152k | €248k | €172k | €222k | ▲ 29.1% |
| Deferred charges and accrued income490/1 | €773 | €752 | €770 | €787 | €557 | ▼ 29.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €581k | €437k | €476k | €379k | €535k | ▲ 41.1% |
| Equity10/15 | €156k | €202k | €242k | €245k | €293k | ▲ 19.4% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €150k | €196k | €235k | €239k | €287k | ▲ 19.9% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €148k | €194k | €233k | €237k | €285k | ▲ 20.1% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €425k | €235k | €234k | €134k | €242k | ▲ 80.8% |
| Amounts payable after more than one year17 | €18k | €25k | €11k | €2k | €16k | ▲ 662% |
| Financial debts170/4 | €18k | €25k | €11k | €2k | €16k | ▲ 662% |
| Amounts payable within one year42/48 | €407k | €210k | €223k | €132k | €225k | ▲ 71.2% |
| Current portion of amounts payable after more than one year42 | €15k | €14k | €14k | €9k | €8k | ▼ 8.3% |
| Trade debts44 | €76k | €30k | €77k | €47k | €33k | ▼ 28.8% |
| Suppliers440/4 | €76k | €30k | €77k | €47k | €33k | ▼ 28.8% |
| Advances received on contracts in progress46 | - | - | - | €500 | €500 | = |
| Taxes, remuneration and social security45 | €20k | €33k | €11k | €15k | €33k | ▲ 119% |
| Taxes450/3 | €6k | €24k | €0 | €2k | €15k | ▲ 524% |
| Remuneration and social security454/9 | €14k | €10k | €11k | €13k | €19k | ▲ 45.4% |
| Other amounts payable47/48 | €296k | €134k | €122k | €60k | €150k | ▲ 150% |
| Accrued charges and deferred income492/3 | €5 | €0 | - | €105 | €154 | ▲ 47.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €72k | €146k | €119k | €64k | €198k | ▲ 211% |
| + Depreciation and write-downs630 | €30k | €32k | €33k | €26k | €22k | ▼ 13.0% |
| Operating cash flow (approximation) | €102k | €178k | €153k | €89k | €220k | ▲ 146% |
| Investment in fixed assets (approximation) | - | €-43k | €-6k | €-9k | €-68k | ▼ 695% |
| Change in cash | - | €-175k | €96k | €-77k | €50k | ▲ 165% |
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
21-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 52 days late
2025
31-12
Financial
Highest result since 2018net €198k ▲211%
Operating result €221k, net result €198k, both a record.
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €64k ▼46.8%
Net result drops to €64k, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
10-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 10 days late
2022
31-12
Financial
Equity above €200kEq €202k ▲29.6%
5 profitable years in a row build equity to €202k.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Equity above €150kEq €156k ▲15.6%
4 profitable years in a row build equity to €156k.
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
17-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
17-07
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, Mouscron · 1 establishment unit since 2001
Ground area
3,492 m²
Building footprint
589 m²
2 parcels, Wallonia. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Slachthuisstraat 37, 7700 Mouscron
since 20012.098.691.505
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 54007B0141/00P000 | Wallonia | 1,848 m² | 1 · 361 m² | - |
| 54436A0468/00C000 | Wallonia | 1,644 m² | 1 · 227 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
2 categoriesHUBERT COURCELLES SRL44486
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Of 22,815 companies in sector 43211 we hold annual accounts for 10,325. 7,636 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
Founded22-11-2001
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
43240Other construction installation
Scores and ratios are computed by Checked and are not a credit decision.