HUCK
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 11-05-2026 PDF all 36 filings
Turnover
≈ €2.1m
Estimated: probably between €1.3m and €3.6m
Total assets
€4.1m▲ 9.4%
2024 · €3.8m
Net result
€320,378▲ 13.5%
2024 · €282,282
Working capital
€2.0m▲ 22.6%
2024 · €1.6m
In the rankings
#2 company by equity in Koekelare, Manufacturing sector#3 oldest company in Koekelare, Manufacturing sector#4 company by total assets in Koekelare, Manufacturing sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€406,826
▲ 14.1%
2025
20182025
Net result
€320,378
▲ 13.5%
2025
highest quarter of the sector
20182025
Equity
€3.9m
▲ 8.9%
2025
highest quarter of the sector
20182025
Total assets
€4.1m
▲ 9.4%
2025
highest quarter of the sector
20182025
Debt
€198,493
▲ 20.3%
2025
20182025
Working capital
€2.0m
▲ 22.6%
2025
highest quarter of the sector
20182025
Solvency
95.2%
▼ 0.4pp
2025
highest quarter of the sector
20182025
Current ratio
11.12
▲ 0.19
2025
highest quarter of the sector
20182025
Return on assets (ROA)
7.8%
▲ 0.3pp
2025
middle half of the sector
20182025
Staff (FTE)
6.7
▼ 5.6%
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€0.1m-€0.1m▲ 3.2%€0.1m▲ 6.2%€0.3m▲ 125%€0.2m▼ 35.7%€0.3m▲ 47.6%€0.4m▲ 18.6%€0.4m▲ 14.1%
Net result€0.1m-€0.1m▼ 3.0%€0.1mwithin the sector's middle half▲ 12.4%€0.3mabove the sector's middle half▲ 113%€2.6mabove the sector's middle half▲ 904%€0.2mabove the sector's middle half▼ 90.6%€0.3mabove the sector's middle half▲ 17.0%€0.3mabove the sector's middle half▲ 13.5%
Equity€3.7m-€3.8m▲ 2.9%€4.0mabove the sector's middle half▲ 3.1%€4.2mabove the sector's middle half▲ 6.4%€3.4mabove the sector's middle half▼ 19.6%€3.3mabove the sector's middle half▼ 1.7%€3.6mabove the sector's middle half▲ 8.5%€3.9mabove the sector's middle half▲ 8.9%
Total assets€3.8m-€4.0m▲ 3.0%€4.0mabove the sector's middle half▲ 2.4%€4.3mabove the sector's middle half▲ 6.6%€3.7mwithin the sector's middle half▼ 14.0%€3.9mabove the sector's middle half▲ 4.3%€3.8mabove the sector's middle half▼ 2.4%€4.1mabove the sector's middle half▲ 9.4%
Debt€0.1m-€0.1m▲ 8.8%€0.09m▼ 21.9%€0.1m▲ 12.0%€0.3m▲ 226%€0.5m▲ 68.3%€0.2m▼ 69.5%€0.2m▲ 20.3%
Working capital€1.7m-€1.8m▲ 9.4%€2.0mabove the sector's middle half▲ 6.5%€2.2mabove the sector's middle half▲ 13.5%€1.3mabove the sector's middle half▼ 39.9%€1.3mabove the sector's middle half▼ 1.0%€1.6mabove the sector's middle half▲ 23.4%€2.0mabove the sector's middle half▲ 22.6%
Solvency97.3%-97.2%▼ 0.2pp97.8%above the sector's middle half▲ 0.7pp97.7%above the sector's middle half▼ 0.1pp91.3%above the sector's middle half▼ 6.4pp86.0%above the sector's middle half▼ 5.3pp95.6%above the sector's middle half▲ 9.6pp95.2%above the sector's middle half▼ 0.4pp
Current ratio17.33-17.41▲ 0.0823.38above the sector's middle half▲ 5.9723.69above the sector's middle half▲ 0.315.18above the sector's middle half▼ 18.513.46within the sector's middle half▼ 1.7210.93above the sector's middle half▲ 7.4711.12above the sector's middle half▲ 0.19
Return on assets (ROA)2.9%-2.7%▼ 0.2pp3.0%within the sector's middle half▲ 0.3pp5.9%within the sector's middle half▲ 2.9pp69.0%above the sector's middle half▲ 63.1pp6.2%within the sector's middle half▼ 62.8pp7.5%within the sector's middle half▲ 1.2pp7.8%within the sector's middle half▲ 0.3pp
Staff (FTE)7.4-7.5▲ 1.4%7.5within the sector's middle half=7.5within the sector's middle half=8within the sector's middle half▲ 6.7%7.3within the sector's middle half▼ 8.8%7.1within the sector's middle half▼ 2.7%6.7within the sector's middle half▼ 5.6%
above
within
below
The sector band is the middle half of the companies in Manufacture of textiles (NACE 13). 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 14% higher than in 2024 and the highest since 2018. It is the third rise in a row, after the fall in 2022.
Large changes and their cause
- 2023 Net result -91% on 2022. The 2022 profit included a one-off income of €2,385,863.
- 2022 Net result +904% on 2021. The 2022 profit included a one-off income of €2,385,863.
Turnover and EBIT margin are not published. The abbreviated 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 €4.1m
Fixed assets
€1.9m ▼ 2.5%
Current assets
€2.2m ▲ 22.4%
Equity and liabilities €4.1m
Equity
€3.9m ▲ 8.9%
Debt
€198,493 ▲ 20.3%
Debt's share of the balance-sheet total rises from 4.4% to 4.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€483,723▲
2024 · €427,502
Cash flow
€397,276▲
2024 · €353,088
Quick ratio
6.99▲
2024 · 6.52
Debt to equity
0.05▲
2024 · 0.05
ROE
8.2%▲
2024 · 7.8%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€198,493▲
2024 · €164,980
Income taxes
€110,879▲
2024 · €97,940
Staff costs
€382,623▼
2024 · €394,962
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 8 | 8 | 8 | 8 | 9 |
| full-time | 4 | 4 | 4 | 3 | 2 |
| part-time | 4 | 4 | 4 | 5 | 7 |
| in full-time equivalents | 7.3 | 7.3 | 7.3 | 7.1 | 7.4 |
| Average over the year, in full-time equivalents | 7.5 | 8 | 7.3 | 7.1 | 6.7 |
| On a permanent contract | 8 | 8 | 8 | 8 | 9 |
| Joined | 1 | 1 | 1 | - | 2 |
| Left | 1 | 1 | 1 | - | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €52,903 | €27,479 | €23,420 | €19,054 | €19,763 |
| Intangible fixed assets | - | - | - | €23,588 | €7,626 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €63,937 | €65,760 | €68,145 | €70,806 | €76,898 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 5 entries · €9,142 awarded · €9,296 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €4,868 | €4,868 |
| 2024 | 1 | €2,216 | €2,216 |
| 2023 | 1 | €0 | €154 |
| 2022 | 1 | €2,058 | €2,058 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.007m | €0 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.07m | €0.06m | €0.05m | €0.06m | €0.07m | €0.07m | €0.07m | €0.08m | ▲ 8.6% |
| Other operating charges640/8 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.03m | ▲ 117% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €0.001m | - |
| Gross operating margin9900 | €0.6m | €0.6m | €0.5m | €0.8m | €0.7m | €0.8m | €0.8m | €0.9m | ▲ 7.2% |
| Operating profit (loss)9901 | €0.1m | €0.1m | €0.1m | €0.3m | €0.2m | €0.3m | €0.4m | €0.4m | ▲ 14.1% |
| Financial income75/76B | - | - | - | €0.03m | €2.4m | €0.03m | €0.03m | €0.03m | ▲ 3.3% |
| Recurring financial income75 | €0.03m | €0.02m | €0.02m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | ▲ 3.3% |
| Non-recurring financial income76B | - | - | - | - | €2.4m | €0 | - | - | - |
| Financial charges65/66B | - | - | - | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | ▼ 0.5% |
| Recurring financial charges65 | €0.003m | €0.003m | €0.004m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | ▼ 0.5% |
| Profit (loss) for the period before taxes9903 | €0.2m | €0.2m | €0.2m | €0.3m | €2.6m | €0.3m | €0.4m | €0.4m | ▲ 13.4% |
| Income taxes67/77 | €0.04m | €0.05m | €0.04m | €0.09m | €0.06m | €0.08m | €0.1m | €0.1m | ▲ 13.2% |
| Profit (loss) for the period9904 | €0.1m | €0.1m | €0.1m | €0.3m | €2.6m | €0.2m | €0.3m | €0.3m | ▲ 13.5% |
| Profit (loss) for the period to be appropriated9905 | €0.1m | €0.1m | €0.1m | €0.3m | €2.6m | €0.2m | €0.3m | €0.3m | ▲ 13.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €3.8m | €4.0m | €4.0m | €4.3m | €3.7m | €3.9m | €3.8m | €4.1m | ▲ 9.4% |
| Fixed assets21/28 | €2.0m | €2.0m | €2.0m | €2.0m | €2.0m | €2.0m | €2.0m | €1.9m | ▼ 2.5% |
| Intangible fixed assets21 | - | - | - | - | - | - | €0.02m | €0.02m | ▲ 11.3% |
| Tangible fixed assets22/27 | €0.4m | €0.4m | €0.4m | €0.4m | €2.0m | €2.0m | €1.9m | €1.9m | ▼ 2.7% |
| Land and buildings22 | - | - | - | €0.3m | €1.9m | €1.9m | €1.9m | €1.8m | ▼ 1.9% |
| Plant, machinery and equipment23 | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.04m | ▼ 19.3% |
| Furniture and vehicles24 | - | - | - | €0.03m | €0.02m | €0.01m | €0.007m | €192 | ▼ 97.3% |
| Financial fixed assets28 | €1.6m | €1.6m | €1.6m | €1.6m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Current assets29/58 | €1.8m | €2.0m | €2.1m | €2.3m | €1.7m | €1.9m | €1.8m | €2.2m | ▲ 22.4% |
| Stocks and contracts in progress3 | €1.0m | €0.9m | €0.8m | €0.9m | €0.9m | €0.9m | €0.7m | €0.8m | ▲ 12.6% |
| Stocks30/36 | - | - | - | €0.9m | €0.9m | €0.9m | €0.7m | €0.8m | ▲ 12.6% |
| Amounts receivable within one year40/41 | €0.3m | €0.3m | €0.4m | €0.5m | €0.5m | €0.5m | €0.5m | €0.7m | ▲ 30.5% |
| Trade receivables40 | - | - | - | €0.3m | €0.2m | €0.2m | €0.3m | €0.4m | ▲ 57.2% |
| Other amounts receivable41 | - | - | - | €0.2m | €0.2m | €0.3m | €0.2m | €0.2m | ▼ 0.4% |
| Current investments50/53 | €0.4m | €0.6m | €0.8m | €0.9m | €0 | - | €0.3m | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €0.06m | €0.08m | €0.08m | €0.1m | €0.3m | €0.5m | €0.3m | €0.7m | ▲ 161% |
| Deferred charges and accrued income490/1 | - | - | - | €0.009m | €0.01m | €0.01m | €0.03m | €0.001m | ▼ 97.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €3.8m | €4.0m | €4.0m | €4.3m | €3.7m | €3.9m | €3.8m | €4.1m | ▲ 9.4% |
| Equity10/15 | €3.7m | €3.8m | €4.0m | €4.2m | €3.4m | €3.3m | €3.6m | €3.9m | ▲ 8.9% |
| Contributions10/11 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Capital10 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Issued capital100 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Revaluation surpluses12 | - | - | - | €1.4m | €1.7m | €1.7m | €1.7m | €1.7m | = |
| Reserves13 | €1.8m | €1.9m | €2.0m | €2.3m | €1.2m | €1.1m | €1.4m | €1.7m | ▲ 22.5% |
| Non-distributable reserves130/1 | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Legal reserve130 | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Distributable reserves133 | - | - | - | €2.2m | €1.1m | €1.1m | €1.4m | €1.7m | ▲ 23.4% |
| Profit (loss) carried forward14 | €0.009m | €0.005m | €0.005m | €0.01m | €0.05m | €0.004m | €0.001m | €0.002m | ▲ 32.0% |
| Amounts payable17/49 | €0.1m | €0.1m | €0.09m | €0.1m | €0.3m | €0.5m | €0.2m | €0.2m | ▲ 20.3% |
| Amounts payable within one year42/48 | €0.1m | €0.1m | €0.09m | €0.1m | €0.3m | €0.5m | €0.2m | €0.2m | ▲ 20.3% |
| Trade debts44 | €0.03m | €0.05m | €0.01m | €0.03m | €0.04m | €0.06m | €0.08m | €0.1m | ▲ 17.2% |
| Suppliers440/4 | - | - | - | €0.03m | €0.04m | €0.06m | €0.08m | €0.1m | ▲ 17.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.07m | €0.08m | €0.08m | €0.08m | €0.1m | ▲ 23.6% |
| Taxes450/3 | - | - | - | €0.03m | €0.04m | €0.04m | €0.04m | €0.05m | ▲ 18.9% |
| Remuneration and social security454/9 | - | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.05m | ▲ 27.9% |
| Other amounts payable47/48 | - | - | - | - | €0.2m | €0.4m | €0 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €26 | €34 | €24 | €15 | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.1m | €0.1m | €0.1m | €0.3m | €2.6m | €0.2m | €0.3m | €0.3m | ▲ 13.5% |
| + Depreciation and write-downs630 | €0.07m | €0.06m | €0.05m | €0.06m | €0.07m | €0.07m | €0.07m | €0.08m | ▲ 8.6% |
| Operating cash flow (approximation) | €0.2m | €0.2m | €0.2m | €0.3m | €2.6m | €0.3m | €0.4m | €0.4m | ▲ 12.5% |
| Investment in fixed assets (approximation) | - | -€0.005m | -€0.05m | -€0.05m | -€0.1m | -€0.02m | -€0.04m | -€0.03m | ▲ 35.8% |
| Change in cash | - | €0.02m | €0.006m | €0.03m | €0.2m | €0.2m | -€0.2m | €0.4m | - |
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, 31,368 companies had the same profile as HUCK has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of HUCK itself: < 0.1% 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 31,368 companies, not a prediction for HUCK. 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 36 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 11-05-2026 | 2026-00112405 | |
| 31-12-2024 | abbreviated format | 19-05-2025 | 2025-00104880 | |
| 31-12-2023 | abbreviated format | 16-05-2024 | 2024-00092997 | |
| 31-12-2022 | abbreviated format | 31-05-2023 | 2023-00110008 | |
| 31-12-2021 | abbreviated format | 31-05-2022 | 2022-20042907 | |
| 31-12-2020 | abbreviated format | 10-05-2021 | 2021-13800376 | |
| 31-12-2019 | abbreviated format | 07-05-2020 | 2020-11800399 | |
| 31-12-2018 | abbreviated format | 08-05-2019 | 2019-12600315 | |
| 31-12-2017 | abbreviated format | 16-05-2018 | 2018-12900544 | |
| 31-12-2016 | abbreviated format | 08-05-2017 | 2017-11600062 |