HV-Projects
ActiveSummary
HV-Projects has been active since 1979 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €897k and a net result of €18k. Equity is growing by ~4.2% per year across the filed fiscal years. Its solvency ranks better than 94% of 7838 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71▲+16
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65k at 30 days acceptable
Liquidity ample (current ratio 7.13 against 32.23 in 2024; short-term debt: 10.7% and cash: 4.8% of total assets), and 11.4% of the assets are financed with debt.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
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
88.6%
Return on assets
1.7%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 8 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-09-2026, 32 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
32 d late
2024
24 d early
2023
1 d early
2022
75 d early
2021
54 d early
2020
38 d early
2019
72 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, abbreviated schema
Equity
€897k▲ 2.0%
2024 · €879k
Total assets
€1.01M▲ 10.8%
2024 · €913k
Net result
€18k▼ 72.7%
2024 · €65k
Working capital
€662k▼ 22.2%
2024 · €851k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€4k▼ 95.7%€30k▲ 736%€-10k€63k€12k▼ 80.4%
Net result€17k▼ 81.8%€34k▲ 97.7%€-2k€65k€18k▼ 72.7%
Equity€781k▲ 2.3%€816k▲ 4.4%€814k▼ 0.2%€879k▲ 8.0%€897k▲ 2.0%
Total assets€884k▼ 0.4%€911k▲ 3.0%€900k▼ 1.1%€913k▲ 1.5%€1.01M▲ 10.8%
Debt€26k▼ 44.7%€88k▲ 239%€79k▼ 10.2%€27k▼ 65.5%€108k▲ 296%
Working capital€799k▼ 0.7%€745k▼ 6.7%€768k▲ 3.1%€851k▲ 10.7%€662k▼ 22.2%
Staff (FTE)9.9▼ 10.0%10▲ 1.0%9.2▼ 8.0%9.1▼ 1.1%8.3▼ 8.8%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 80% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.01M
Fixed assets
€242k ▲ 582%
Current assets
€770k ▼ 12.3%
Equity and liabilities €1.01M
Equity
€897k ▲ 2.0%
Provisions
€7k ▲ 5.2%
Debt
€108k ▲ 296%
Debt's share of the balance-sheet total rises from 3.0% to 10.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€31k▼
2024 · €83k
Cash flow
€37k▼
2024 · €84k
Current ratio
7.13▼
2024 · 32.23
Quick ratio
3.38▼
2024 · 16.72
Debt to equity
0.12▲
2024 · 0.03
ROE
2.0%▼
2024 · 7.4%
ROA
1.7%▼
2024 · 7.1%
Interest coverage
141.85▲
2024 · -10.13
Debt ≤ 1 year
€108k▲
2024 · €27k
Income taxes
€2k▼
2024 · €6k
Staff costs
€553k▲
2024 · €501k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €1k | €1k | - | - | - | - |
| Remuneration, social security and pensions62 | €545k | €561k | €524k | €501k | €553k | ▲ 10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14k | €23k | €26k | €20k | €19k | ▼ 3.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €-746 | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €-70k | - | €-75 | - | - |
| Other operating charges640/8 | €4k | €4k | €4k | €4k | €21k | ▲ 429% |
| Gross operating margin9900 | €567k | €549k | €543k | €588k | €606k | ▲ 3.0% |
| Operating profit (loss)9901 | €4k | €30k | €-10k | €63k | €12k | ▼ 80.4% |
| Financial income75/76B | €16k | €8k | €9k | - | €7k | - |
| Recurring financial income75 | €16k | €8k | €8k | - | €7k | - |
| Non-recurring financial income76B | - | - | €457 | - | - | - |
| Financial charges65/66B | €659 | - | €489 | €-8k | €221 | ▲ 103% |
| Recurring financial charges65 | €659 | - | €489 | €-8k | €221 | ▲ 103% |
| Profit (loss) for the period before taxes9903 | €19k | €38k | €-2k | €71k | €19k | ▼ 72.7% |
| Income taxes67/77 | €2k | €3k | - | €6k | €2k | ▼ 72.7% |
| Profit (loss) for the period9904 | €17k | €34k | €-2k | €65k | €18k | ▼ 72.7% |
| Profit (loss) for the period to be appropriated9905 | €17k | €34k | €-2k | €65k | €18k | ▼ 72.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €884k | €911k | €900k | €913k | €1.01M | ▲ 10.8% |
| Fixed assets21/28 | €62k | €79k | €53k | €36k | €242k | ▲ 582% |
| Tangible fixed assets22/27 | €62k | €79k | €53k | €36k | €25k | ▼ 28.7% |
| Plant, machinery and equipment23 | €29k | €55k | €39k | €27k | €22k | ▼ 18.6% |
| Furniture and vehicles24 | €33k | €24k | €14k | €9k | €3k | ▼ 60.0% |
| Financial fixed assets28 | - | - | - | - | €217k | - |
| Current assets29/58 | €822k | €832k | €847k | €878k | €770k | ▼ 12.3% |
| Amounts receivable after more than one year29 | €215k | €205k | €205k | €125k | €125k | = |
| Other amounts receivable291 | €215k | €205k | €205k | €125k | €125k | = |
| Stocks and contracts in progress3 | €462k | €458k | €400k | €423k | €405k | ▼ 4.2% |
| Stocks30/36 | €462k | €458k | €400k | €423k | €405k | ▼ 4.2% |
| Amounts receivable within one year40/41 | €98k | €150k | €132k | €165k | €192k | ▲ 16.0% |
| Trade receivables40 | €85k | €140k | €123k | €152k | €169k | ▲ 10.9% |
| Other amounts receivable41 | €13k | €10k | €8k | €13k | €23k | ▲ 73.4% |
| Cash at bank and in hand54/58 | €48k | €19k | €111k | €165k | €49k | ▼ 70.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €884k | €911k | €900k | €913k | €1.01M | ▲ 10.8% |
| Equity10/15 | €781k | €816k | €814k | €879k | €897k | ▲ 2.0% |
| Contributions10/11 | €25k | €25k | €25k | €25k | €25k | = |
| Reserves13 | €757k | €791k | €790k | €854k | €872k | ▲ 2.1% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Distributable reserves133 | €754k | €789k | €790k | €854k | €872k | ▲ 2.1% |
| Provisions and deferred taxes16 | €77k | €7k | €7k | €7k | €7k | ▲ 5.2% |
| Provisions for liabilities and charges160/5 | €77k | €7k | €7k | €7k | €7k | ▲ 5.2% |
| Pensions and similar obligations160 | €70k | - | - | - | - | - |
| Environmental obligations163 | - | €7k | €7k | €7k | €7k | ▲ 5.2% |
| Other liabilities and charges164/5 | €7k | - | - | - | - | - |
| Amounts payable17/49 | €26k | €88k | €79k | €27k | €108k | ▲ 296% |
| Amounts payable within one year42/48 | €23k | €86k | €79k | €27k | €108k | ▲ 296% |
| Trade debts44 | €15k | €80k | €74k | €9k | €94k | ▲ 918% |
| Suppliers440/4 | €15k | €80k | €74k | €9k | €94k | ▲ 918% |
| Taxes, remuneration and social security45 | €8k | €7k | €4k | €6k | €7k | ▲ 24.2% |
| Taxes450/3 | €7k | €6k | €4k | €5k | €5k | ▲ 12.5% |
| Remuneration and social security454/9 | €1k | €230 | €480 | €945 | €2k | ▲ 84.9% |
| Other amounts payable47/48 | - | - | €968 | €12k | €7k | ▼ 45.7% |
| Accrued charges and deferred income492/3 | €2k | €1k | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17k | €34k | €-2k | €65k | €18k | ▼ 72.7% |
| + Depreciation and write-downs630 | €14k | €23k | €26k | €20k | €19k | ▼ 3.4% |
| Operating cash flow (approximation) | €31k | €58k | €24k | €84k | €37k | ▼ 56.6% |
| Investment in fixed assets (approximation) | - | €-40k | €0 | €-2k | €-226k | ▼ 12,201% |
| Change in cash | - | €-28k | €92k | €54k | €-117k | ▼ 315% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 32 days late
2025
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €65k
Net result €65k after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 32.23
Current ratio from 10.74 to 32.23; short-term debt falls from €79k to €27k.
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €-2k
Net result drops to €-2k, the lowest in the series; recovery starts the following year.
17-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
07-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
23-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €96k ▲474%
Operating result €83k, net result €96k, both a record.
20-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
24-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
1 act for this company is 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 · 2 establishment units since 1979
Ground area
1.8 ha
Building footprint
1,370 m²
Volume, LiDAR
6,482 m³
2 parcels, Flanders · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
2 establishment units
Mechelsesteenweg 711, 3020 Herent
since 19792.017.079.465
Liersesteenweg 275, 2220 Heist-op-den-Berg
since 19822.017.079.564
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12322I0159/00Z002 | Flanders | 1.5 ha | 1 · 73 m² | - |
| 24422F0316/00R000 | Flanders | 2,790 m² | 1 · 1,297 m² | 8.1 m · 2 fl. |
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.
Public money · subsidies and aid
Flemish government
2024 to 2025 · 2 entries · 594 EUR awarded · 594 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 297 EUR | 297 EUR |
| 2024 | 1 | 297 EUR | 297 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
MOMENTO M
BE 0432.476.181
Kraainem · Eq €891,612
DAMS
BE 0746.779.937
Ninove · Eq €908,046
FLORISOL
BE 0888.049.945
Namur · Eq €849,625
MEULEMAN
BE 0408.465.614
Kortrijk · Eq €849,211
ENTREPRISES MIOT
BE 0420.323.170
Brussel · Eq €849,019
Of 913 companies in sector 43333 we hold annual accounts for 400. 199 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
Founded06-12-1979
Fiscal year end31-12
Activities, NACEBEL 2025
43333Wallpapering and laying of floor and wall coverings in other materials
43331Floor and wall tiling
47521Retail sale of hardware, building materials, paint and glass (general range)
47530Retail trade
Scores and ratios are computed by Checked and are not a credit decision.