Hvnv
ActiveSummary
Hvnv has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €472k and a net result of €80k. Equity is growing by ~10.7% per year across the filed fiscal years. Its solvency ranks better than 53% of 261 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability50▼-17
Solvency72=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 2.0 against 2.08 in 2024; short-term debt: 38.8% and cash: 4.5% of total assets), but 52.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 61
Relative position
BE, all sectors
reference
Telecommunications (NACE 61)
about 159% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
47.4%
Return on assets
8%
Age of the figures
9 mo
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
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 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
13 d late
2023
13 d early
2022
21 d late
2021
30 d late
2020
89 d late
2019
14 d late
← 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
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€472k▲ 11.5%
2024 · €423k
2018: €233klowest in 8 years
2019: €252k▲ +8.0% vs 2018
2020: €283k▲ +12.3% vs 2019
2021: €347k▲ +22.5% vs 2020
2022: €428k▲ +23.5% vs 2021
2023: €338k▼ -21.0% vs 2022
2024: €423k▲ +25.2% vs 2023
2025: €472k▲ +11.5% vs 2024highest in 8 years
2018 → 2025
Total assets
€996k▲ 11.2%
2024 · €896k
2018: €292klowest in 8 years
2019: €542k▲ +85.5% vs 2018
2020: €562k▲ +3.6% vs 2019
2021: €634k▲ +12.9% vs 2020
2022: €761k▲ +19.9% vs 2021
2023: €870k▲ +14.4% vs 2022
2024: €896k▲ +3.0% vs 2023
2025: €996k▲ +11.2% vs 2024highest in 8 years
2018 → 2025
Net result
€80k▼ 23.3%
2024 · €104k
2018: €93k
2019: €19k▼ -80.1% vs 2018lowest in 8 years
2020: €31k▲ +67.5% vs 2019
2021: €64k▲ +105% vs 2020
2022: €81k▲ +27.9% vs 2021
2023: €96k▲ +17.7% vs 2022
2024: €104k▲ +8.3% vs 2023highest in 8 years
2025: €80k▼ -23.3% vs 2024
2018 → 2025
Working capital
€388k▲ 10.0%
2024 · €353k
2018: €202k
2019: €191k▼ -5.2% vs 2018
2020: €26k▼ -86.4% vs 2019lowest in 8 years
2021: €279k▲ +971% vs 2020
2022: €351k▲ +25.8% vs 2021
2023: €257k▼ -26.7% vs 2022
2024: €353k▲ +37.2% vs 2023
2025: €388k▲ +10.0% 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€347k-€428k▲ 23.5%€338k▼ 21.0%€423k▲ 25.2%€472k▲ 11.5%
2021: €347k
2022: €428k▲ +23.5% vs 2021
2023: €338k▼ -21.0% vs 2022lowest in 5 years
2024: €423k▲ +25.2% vs 2023
2025: €472k▲ +11.5% vs 2024highest in 5 years
Operating result€120k-€163k▲ 35.0%€192k▲ 17.8%€200k▲ 4.2%€188k▼ 5.9%
2021: €120klowest in 5 years
2022: €163k▲ +35.0% vs 2021
2023: €192k▲ +17.8% vs 2022
2024: €200k▲ +4.2% vs 2023highest in 5 years
2025: €188k▼ -5.9% vs 2024
Net result€64k-€81k▲ 27.9%€96k▲ 17.7%€104k▲ 8.3%€80k▼ 23.3%
2021: €64klowest in 5 years
2022: €81k▲ +27.9% vs 2021
2023: €96k▲ +17.7% vs 2022
2024: €104k▲ +8.3% vs 2023highest in 5 years
2025: €80k▼ -23.3% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 6% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €996k
Fixed assets
€222k ▲ 1.8%
Current assets
€775k ▲ 14.2%
Equity and liabilities €996k
Equity
€472k ▲ 11.5%
Debt
€524k ▲ 10.9%
Debt's share of the balance-sheet total falls from 52.8% to 52.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€199k▼
2024 · €213k
Cash flow
€91k▼
2024 · €118k
Current ratio
2.00▼
2024 · 2.08
Quick ratio
1.95▼
2024 · 1.99
Debt to equity
1.11▼
2024 · 1.12
ROE
16.9%▼
2024 · 24.5%
ROA
8.0%▼
2024 · 11.6%
Interest coverage
2.51▼
2024 · 4.00
Debt ≤ 1 year
€387k▲
2024 · €326k
Debt > 1 year
€121k▼
2024 · €136k
Income taxes
€32k▼
2024 · €45k
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 · 58 lines
Balance sheet
Code20242025
Assets
Total assets20/58€896k€996k▲
Fixed assets21/28€218k€222k▲
Tangible fixed assets22/27€218k€222k▲
Land and buildings22€208k€203k▼
Plant, machinery and equipment23€569€14k▲
Furniture and vehicles24€2k€138▼
Other tangible fixed assets26€7k€4k▼
Current assets29/58€679k€775k▲
Stocks and contracts in progress3€28k€19k▼
Stocks30/36€28k€19k▼
Amounts receivable within one year40/41€160k€212k▲
Trade receivables40€160k€185k▲
Other amounts receivable41€443€28k▲
Current investments50/53€433k€490k▲
Cash at bank and in hand54/58€47k€45k▼
Deferred charges and accrued income490/1€11k€9k▼
Equity and liabilities
Total equity and liabilities10/49€896k€996k▲
Equity10/15€423k€472k▲
Contributions10/11€19k€19k=
Reserves13€405k€453k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€19k€19k=
Distributable reserves133€384k€432k▲
Amounts payable17/49€473k€524k▲
Amounts payable after more than one year17€136k€121k▼
Financial debts170/4€136k€121k▼
Amounts payable within one year42/48€326k€387k▲
Current portion of amounts payable after more than one year42€14k€15k▲
Financial debts43€5k€3k▼
Credit institutions430/8€5k€3k▼
Trade debts44€48k€44k▼
Suppliers440/4€48k€44k▼
Taxes, remuneration and social security45€42k€37k▼
Taxes450/3€36k€34k▼
Remuneration and social security454/9€6k€3k▼
Other amounts payable47/48€217k€288k▲
Accrued charges and deferred income492/3€11k€16k▲
Income statement
Code20242025
Non-recurring operating income76A€5k€927▼
Remuneration, social security and pensions62€48-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€12k▼
Other operating charges640/8€3k€3k▲
Gross operating margin9900€216k€202k▼
Operating profit (loss)9901€200k€188k▼
Financial income75/76B€2k€3k▲
Recurring financial income75€2k€3k▲
Financial charges65/66B€53k€79k▲
Recurring financial charges65€53k€79k▲
Profit (loss) for the period before taxes9903€148k€112k▼
Income taxes67/77€45k€32k▼
Profit (loss) for the period9904€104k€80k▼
Profit (loss) for the period to be appropriated9905€104k€80k▼
Appropriation of the result
Profit (loss) to be appropriated9906€104k€80k▼
Transfer from equity791/2€19k€31k▲
Transfer to equity691/2€104k€80k▼
To other reserves6921€104k€80k▼
Profit to be distributed694/7€19k€31k▲
Return on contributions (dividend)694€19k€31k▲
The notes to these accounts (6 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 | - | €2k | - | €5k | €927 | ▼ 81.0% |
| Remuneration, social security and pensions62 | €37k | €40k | €297 | €48 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11k | €12k | €14k | €14k | €12k | ▼ 14.7% |
| Other operating charges640/8 | €2k | €1k | €2k | €3k | €3k | ▲ 2.7% |
| Non-recurring operating charges66A | - | - | €6k | - | - | - |
| Gross operating margin9900 | €170k | €216k | €214k | €216k | €202k | ▼ 6.4% |
| Operating profit (loss)9901 | €120k | €163k | €192k | €200k | €188k | ▼ 5.9% |
| Financial income75/76B | €212 | €186 | €631 | €2k | €3k | ▲ 58.4% |
| Recurring financial income75 | €212 | €186 | €631 | €2k | €3k | ▲ 58.4% |
| Financial charges65/66B | €30k | €47k | €56k | €53k | €79k | ▲ 48.9% |
| Recurring financial charges65 | €30k | €47k | €56k | €53k | €79k | ▲ 48.9% |
| Profit (loss) for the period before taxes9903 | €91k | €116k | €136k | €148k | €112k | ▼ 24.7% |
| Income taxes67/77 | €27k | €34k | €40k | €45k | €32k | ▼ 28.0% |
| Profit (loss) for the period9904 | €64k | €81k | €96k | €104k | €80k | ▼ 23.3% |
| Profit (loss) for the period to be appropriated9905 | €64k | €81k | €96k | €104k | €80k | ▼ 23.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €634k | €761k | €870k | €896k | €996k | ▲ 11.2% |
| Fixed assets21/28 | €247k | €242k | €231k | €218k | €222k | ▲ 1.8% |
| Tangible fixed assets22/27 | €247k | €242k | €231k | €218k | €222k | ▲ 1.8% |
| Land and buildings22 | €228k | €221k | €215k | €208k | €203k | ▼ 2.6% |
| Plant, machinery and equipment23 | €2k | €2k | €2k | €569 | €14k | ▲ 2,410% |
| Furniture and vehicles24 | €1k | €6k | €5k | €2k | €138 | ▼ 92.2% |
| Other tangible fixed assets26 | €16k | €13k | €10k | €7k | €4k | ▼ 40.0% |
| Current assets29/58 | €388k | €518k | €639k | €679k | €775k | ▲ 14.2% |
| Stocks and contracts in progress3 | €16k | €18k | €15k | €28k | €19k | ▼ 32.7% |
| Stocks30/36 | €16k | €18k | €15k | €28k | €19k | ▼ 32.7% |
| Amounts receivable within one year40/41 | €125k | €169k | €190k | €160k | €212k | ▲ 32.6% |
| Trade receivables40 | €110k | €169k | €190k | €160k | €185k | ▲ 15.6% |
| Other amounts receivable41 | €16k | - | €136 | €443 | €28k | ▲ 6,181% |
| Current investments50/53 | - | €301k | €391k | €433k | €490k | ▲ 13.2% |
| Cash at bank and in hand54/58 | €241k | €25k | €36k | €47k | €45k | ▼ 3.8% |
| Deferred charges and accrued income490/1 | €6k | €5k | €6k | €11k | €9k | ▼ 19.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €634k | €761k | €870k | €896k | €996k | ▲ 11.2% |
| Equity10/15 | €347k | €428k | €338k | €423k | €472k | ▲ 11.5% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €328k | €410k | €320k | €405k | €453k | ▲ 12.0% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Tax-exempt reserves132 | €19k | €19k | €19k | €19k | €19k | = |
| Distributable reserves133 | €307k | €388k | €298k | €384k | €432k | ▲ 12.7% |
| Amounts payable17/49 | €288k | €332k | €532k | €473k | €524k | ▲ 10.9% |
| Amounts payable after more than one year17 | €179k | €164k | €150k | €136k | €121k | ▼ 10.7% |
| Financial debts170/4 | €179k | €164k | €150k | €136k | €121k | ▼ 10.7% |
| Amounts payable within one year42/48 | €109k | €168k | €382k | €326k | €387k | ▲ 18.6% |
| Current portion of amounts payable after more than one year42 | €14k | €14k | €14k | €14k | €15k | ▲ 1.0% |
| Financial debts43 | - | €5k | €3k | €5k | €3k | ▼ 34.2% |
| Credit institutions430/8 | - | €5k | €3k | €5k | €3k | ▼ 34.2% |
| Trade debts44 | €22k | €18k | €56k | €48k | €44k | ▼ 10.0% |
| Suppliers440/4 | €22k | €18k | €56k | €48k | €44k | ▼ 10.0% |
| Advances received on contracts in progress46 | €2k | €2k | - | - | - | - |
| Taxes, remuneration and social security45 | €29k | €42k | €50k | €42k | €37k | ▼ 10.8% |
| Taxes450/3 | €29k | €42k | €50k | €36k | €34k | ▼ 4.1% |
| Remuneration and social security454/9 | - | - | - | €6k | €3k | ▼ 49.7% |
| Other amounts payable47/48 | €42k | €87k | €259k | €217k | €288k | ▲ 33.0% |
| Accrued charges and deferred income492/3 | - | - | - | €11k | €16k | ▲ 48.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €64k | €81k | €96k | €104k | €80k | ▼ 23.3% |
| + Depreciation and write-downs630 | €11k | €12k | €14k | €14k | €12k | ▼ 14.7% |
| Operating cash flow (approximation) | €75k | €93k | €109k | €118k | €91k | ▼ 22.2% |
| Investment in fixed assets (approximation) | - | €-7k | €-3k | €0 | €-16k | - |
| Change in cash | - | €-216k | €11k | €11k | €-2k | ▼ 116% |
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
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
13-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 13 days late
2024
31-12
Financial
Highest result since 2018net €104k ▲8.3%
Operating result €200k, net result €104k, both a record.
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
21-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 21 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Liquidity triplescurrent ratio 3.55
Current ratio from 1.09 to 3.55; short-term debt falls from €279k to €109k.
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 89 days late
2020
14-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 14 days late
2019
31-12
Financial
Weakest financial yearnet €19k ▼80.1%
Net result drops to €19k, the lowest in the series; recovery starts the following year.
19-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Duffel · 1 establishment unit since 2008
Ground area
1,295 m²
Building footprint
160 m²
Volume, LiDAR
1,270 m³
Parcel 12302D0556/00P004, Flanders · tallest building 11.8 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
HVNV - Apec Telecom - HVNV Solutions
since 20082.169.274.049
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12302D0556/00P004 | Flanders | 1,295 m² | 1 · 160 m² | 11.8 m · 3 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.
Recognitions · licences · registrations
Legal Entity Identifier
2549003KABKXGVMNY379
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Of 1,374 companies in sector 61100 we hold annual accounts for 584. 340 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
Founded04-03-2008
Fiscal year end31-12
Activities, NACEBEL 2025
61100Wired, wireless and satellite telecommunications
43211General electrical installation work
62900Other information technology and computer services
62100Computer programming
62200Computer consultancy and computer facilities management
Contact
Website
www.hvnv.be
E-mail
info@hvnv.be
Scores and ratios are computed by Checked and are not a credit decision.