Humusation
ActiveSummary
Humusation has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €130,240 and a net result of -€24,707. Equity is growing by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 95% of 928 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency100=
Growth68▲+14
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity ample (current ratio 88.84 against 66.13 in 2024; short-term debt: 0.4% and cash: 14.1% of total assets), and 0.4% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 77
Relative position
BE, all sectors
reference
Rental and leasing activities (NACE 77)
about 44% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
202122232425
2020 to 2025 · latest year -€24,707
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 03-07-2026, 28 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
28 d early
2024
24 d early
2023
30 d early
2022
42 d early
2021
40 d early
2020
66 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 38 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 2 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€260,407▲ 2,102%
2024 · €11,826
EBIT margin
-9.5%▲ 402.7pp
2024 · -412.2%
Net result
-€24,707▲ 49.3%
2024 · -€48,746
Working capital
€51,564▼ 4.8%
2024 · €54,185
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 77, Rental and leasing 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
Turnover€8,989▲ 0.4%€8,750▼ 2.7%€120▼ 98.6%€11,826▲ 9,755%€260,407▲ 2,102%
Operating result-€5,754-€9,016▼ 56.7%-€48,254▼ 435%-€48,743▼ 1.0%-€24,630▲ 49.5%
Net result-€5,815below the sector's middle half-€9,071below the sector's middle half▼ 56.0%-€48,314below the sector's middle half▼ 433%-€48,746below the sector's middle half▼ 0.9%-€24,707below the sector's middle half▲ 49.3%
EBIT margin-64.0%▼ 74.6pp-103.0%▼ 39.0pp-40211.7%▼ 40108.6pp-412.2%▲ 39799.5pp-9.5%▲ 402.7pp
Equity€119,428within the sector's middle half▲ 20.7%€141,807within the sector's middle half▲ 18.7%€168,043within the sector's middle half▲ 18.5%€138,047within the sector's middle half▼ 17.9%€130,240within the sector's middle half▼ 5.7%
Total assets€136,864below the sector's middle half▲ 22.7%€159,176below the sector's middle half▲ 16.3%€189,741below the sector's middle half▲ 19.2%€138,879below the sector's middle half▼ 26.8%€130,827below the sector's middle half▼ 5.8%
Debt€17,436▲ 37.9%€17,369▼ 0.4%€21,698▲ 24.9%€832▼ 96.2%€587▼ 29.4%
Working capital€23,338within the sector's middle half▲ 83.7%€49,434within the sector's middle half▲ 112%€81,816within the sector's middle half▲ 65.5%€54,185within the sector's middle half▼ 33.8%€51,564within the sector's middle half▼ 4.8%
Solvency87.3%above the sector's middle half▼ 1.4pp89.1%above the sector's middle half▲ 1.8pp88.6%above the sector's middle half▼ 0.5pp99.4%above the sector's middle half▲ 10.8pp99.6%above the sector's middle half▲ 0.2pp
Current ratio2.34within the sector's middle half▲ 0.333.85above the sector's middle half▲ 1.514.77above the sector's middle half▲ 0.9266.13above the sector's middle half▲ 61.3688.84above the sector's middle half▲ 22.72
Return on assets (ROA)-4.2%below the sector's middle half▼ 5.1pp-5.7%below the sector's middle half▼ 1.4pp-25.5%below the sector's middle half▼ 19.8pp-35.1%below the sector's middle half▼ 9.6pp-18.9%below the sector's middle half▲ 16.2pp
above
within
below
the middle half (P25 to P75) of NACE 77, Rental and leasing activities, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2025 Turnover +2,102% on 2024. The accounts now follow the abbreviated schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €24,630 in 2025 against €48,743 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €130,827
Fixed assets
€78,676 ▼ 6.2%
Current assets
€52,151 ▼ 5.2%
Equity and liabilities €130,827
Equity
€130,240 ▼ 5.7%
Debt
€587 ▼ 29.4%
Debt's share of the balance-sheet total falls from 0.6% to 0.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€17,694▲
2024 · -€42,225
Cash flow
-€17,771▲
2024 · -€42,228
Debt to equity
0.00▼
2024 · 0.01
ROE
-19.0%▲
2024 · -35.3%
Interest coverage
-180.55▲
2024 · -1689.00
Debt ≤ 1 year
€587▼
2024 · €832
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,592 companies that looked in July 2024 the way this one looks now, 3.0% went bankrupt within 24 months and 87% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
3.0%
went bankrupt
9.5%
stopped otherwise
87%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.6% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 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% | 1.9% |
| 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 3,592 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €8,989 | €8,750 | €120 | €11,826 | €260,407 | ▲ 2,102% |
| Non-recurring operating income76A | €110 | €295 | €755 | €4,389 | €7,491 | ▲ 70.7% |
| Goods, raw materials, services and sundry goods60/61 | €8,819 | €12,304 | €42,883 | €58,290 | €285,592 | ▲ 390% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,416 | €5,757 | €6,246 | €6,518 | €6,936 | ▲ 6.4% |
| Other operating charges640/8 | €618 | - | - | €150 | - | - |
| Gross operating margin9900 | €280 | -€3,259 | -€42,008 | -€42,075 | -€17,694 | ▲ 57.9% |
| Operating profit (loss)9901 | -€5,754 | -€9,016 | -€48,254 | -€48,743 | -€24,630 | ▲ 49.5% |
| Financial income75/76B | - | €11 | €4 | €22 | €21 | ▼ 4.5% |
| Recurring financial income75 | - | €11 | €4 | €22 | €21 | ▼ 4.5% |
| Financial charges65/66B | €61 | €66 | €64 | €25 | €98 | ▲ 292% |
| Recurring financial charges65 | €61 | €66 | €64 | €25 | €98 | ▲ 292% |
| Profit (loss) for the period before taxes9903 | -€5,815 | -€9,071 | -€48,314 | -€48,746 | -€24,707 | ▲ 49.3% |
| Profit (loss) for the period9904 | -€5,815 | -€9,071 | -€48,314 | -€48,746 | -€24,707 | ▲ 49.3% |
| Profit (loss) for the period to be appropriated9905 | -€5,815 | -€9,071 | -€48,314 | -€48,746 | -€24,707 | ▲ 49.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €136,864 | €159,176 | €189,741 | €138,879 | €130,827 | ▼ 5.8% |
| Fixed assets21/28 | €96,090 | €92,373 | €86,227 | €83,862 | €78,676 | ▼ 6.2% |
| Intangible fixed assets21 | - | - | - | €3,681 | €4,640 | ▲ 26.1% |
| Tangible fixed assets22/27 | €96,090 | €92,173 | €85,927 | €79,681 | €73,536 | ▼ 7.7% |
| Land and buildings22 | €91,470 | €86,497 | €81,570 | €76,553 | €71,581 | ▼ 6.5% |
| Plant, machinery and equipment23 | €4,620 | €3,954 | €3,287 | €2,621 | €1,955 | ▼ 25.4% |
| Furniture and vehicles24 | - | €1,722 | €1,070 | €507 | - | - |
| Financial fixed assets28 | - | €200 | €300 | €500 | €500 | = |
| Current assets29/58 | €40,774 | €66,803 | €103,514 | €55,017 | €52,151 | ▼ 5.2% |
| Amounts receivable within one year40/41 | €40,424 | €66,461 | €36,331 | €33,651 | €33,657 | = |
| Trade receivables40 | €18,250 | €26,450 | €26,450 | €26,450 | €26,450 | = |
| Other amounts receivable41 | €22,174 | €40,011 | €9,881 | €7,201 | €7,207 | ▲ 0.1% |
| Current investments50/53 | €350 | - | - | - | - | - |
| Cash at bank and in hand54/58 | - | €342 | €67,183 | €21,366 | €18,494 | ▼ 13.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €136,864 | €159,176 | €189,741 | €138,879 | €130,827 | ▼ 5.8% |
| Equity10/15 | €119,428 | €141,807 | €168,043 | €138,047 | €130,240 | ▼ 5.7% |
| Contributions10/11 | €124,300 | €155,750 | €230,300 | €249,050 | €265,950 | ▲ 6.8% |
| Reserves13 | €47 | €47 | €47 | €47 | €47 | = |
| Non-distributable reserves130/1 | €47 | €47 | €47 | €47 | €47 | = |
| Reserves not available under the articles1311 | €47 | €47 | €47 | €47 | €47 | = |
| Profit (loss) carried forward14 | -€4,919 | -€13,990 | -€62,304 | -€111,050 | -€135,757 | ▼ 22.2% |
| Amounts payable17/49 | €17,436 | €17,369 | €21,698 | €832 | €587 | ▼ 29.4% |
| Amounts payable within one year42/48 | €17,436 | €17,369 | €21,698 | €832 | €587 | ▼ 29.4% |
| Trade debts44 | €484 | €130 | €5,339 | €434 | €127 | ▼ 70.7% |
| Suppliers440/4 | €484 | €130 | €5,339 | €434 | €127 | ▼ 70.7% |
| Taxes, remuneration and social security45 | €396 | - | - | - | - | - |
| Taxes450/3 | €396 | - | - | - | - | - |
| Other amounts payable47/48 | €16,556 | €17,239 | €16,359 | €398 | €460 | ▲ 15.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,815 | -€9,071 | -€48,314 | -€48,746 | -€24,707 | ▲ 49.3% |
| + Depreciation and write-downs630 | €5,416 | €5,757 | €6,246 | €6,518 | €6,936 | ▲ 6.4% |
| Operating cash flow (approximation) | -€399 | -€3,314 | -€42,068 | -€42,228 | -€17,771 | ▲ 57.9% |
| Investment in fixed assets (approximation) | - | -€2,040 | -€100 | -€4,153 | -€1,750 | ▲ 57.9% |
| Change in cash | - | - | €66,841 | -€45,817 | -€2,872 | ▲ 93.7% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet -€48,746
Net result drops to -€48,746, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 14current ratio 66.13
Current ratio from 4.77 to 66.13; short-term debt falls from €21,698 to €832.
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Equity above €150,000Eq €168,043 ▲18.5%
Equity rises from €141,807 to €168,043.
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €100,000Eq €119,428 ▲20.7%
Equity rises from €98,943 to €119,428.
26-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Esneux
Ground area
1,035 m²
Building footprint
84 m²
Volume, LiDAR
505 m³
Parcel 62101D0449/00F003, Wallonia · tallest building 7.2 m, ±2 floors. Linked by address, not a title deed.
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62101D0449/00F003 | Wallonia | 1,035 m² | 1 · 84 m² | 7.2 m · 2 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.
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Of 1,188 companies in sector 77399 we hold annual accounts for 711. 496 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formCooperative company
Founded26-11-2019
Fiscal year end31-12
Activities, NACEBEL 2025
77399Renting and leasing of other machinery, equipment and tangible goods
E-invoicing
Reachable via Peppol
Peppol ID
0208:0738423782
Also
9925:BE0738423782
Registered
16-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.