HW.Connect
ActiveHW.Connect has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-2k) and a net result of €-23k. Equity is shrinking by ~50.2% per year across the filed fiscal years. Its solvency ranks better than 18% of 2042 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
44
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Negative equity caps the score. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability30▼-30
Solvency25▼-4
Growth32=
Track record94
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.41 against 0.43 in 2024; short-term debt: 59.7% and cash: 0.9% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 85
Relative position
BE, all sectors
reference
Sector 85
lower
← fewer bankruptcies
more bankruptcies →
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 · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-0.4%
Return on assets
-4%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
22232425
2022 to 2025 · latest year €-2k
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 08-06-2026, 53 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
53 d early
2024
16 d early
2023
1 d early
2022
41 d early
← before the deadline
after the deadline →
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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-2k
2024 · €20k
2022: €25k
2023: €13k
2024: €20k
2022 → 2025
Total assets
€567k▼ 1.4%
2024 · €575k
2022: €481k
2023: €530k
2024: €575k
2022 → 2025
Net result
€-23k
2024 · €7k
2022: €20k
2023: €-11k
2024: €7k
2022 → 2025
Working capital
€-199k▼ 17.7%
2024 · €-169k
2022: €-94k
2023: €-125k
2024: €-169k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€25k-€13k▼ 45.2%€20k▲ 50.7%€-2k
Operating result€24k-€-2k€17k€-13k
Net result€20k-€-11k€7k€-23k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €13k after €17k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €565k
Fixed assets
€426k▼ 4.3%
Current assets
€140k▲ 9.5%
Key figures and ratios
EBITDA
€19k▼
2024 · €47k
Cash flow
€9k▼
2024 · €37k
Solvency
-0.4%▼
2024 · 3.5%
Current ratio
0.41▼
2024 · 0.43
Quick ratio
0.13▼
2024 · 0.21
ROA
-4.0%▼
2024 · 1.2%
Interest coverage
1.92▼
2024 · 4.77
Debt
€569k▲
2024 · €555k
Debt ≤ 1 year
€338k▲
2024 · €296k
Debt > 1 year
€231k▼
2024 · €258k
A ratio outside any meaningful range has been withheld (balance sheet total €567k, equity €-2k).
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€575k€567k▼
Formation expenses20€3k€2k▼
Fixed assets21/28€445k€426k▼
Tangible fixed assets22/27€445k€426k▼
Land and buildings22€407k€390k▼
Plant, machinery and equipment23€32k€31k▼
Furniture and vehicles24€5k€5k▼
Current assets29/58€128k€140k▲
Stocks and contracts in progress3€66k€97k▲
Stocks30/36€66k€97k▲
Amounts receivable within one year40/41€56k€38k▼
Trade receivables40€54k€37k▼
Other amounts receivable41€2k€183▼
Cash at bank and in hand54/58€174€5k▲
Deferred charges and accrued income490/1€5k€83▼
Equity and liabilities
Total equity and liabilities10/49€575k€567k▼
Equity10/15€20k€-2k▼
Contributions10/11€5k€5k=
Profit (loss) carried forward14€15k€-7k▼
Amounts payable17/49€555k€569k▲
Amounts payable after more than one year17€258k€231k▼
Financial debts170/4€258k€231k▼
Amounts payable within one year42/48€296k€338k▲
Current portion of amounts payable after more than one year42€28k€29k▲
Trade debts44€25k€34k▲
Suppliers440/4€25k€34k▲
Taxes, remuneration and social security45€5k€12k▲
Taxes450/3€5k€12k▲
Other amounts payable47/48€238k€264k▲
Accrued charges and deferred income492/3€391€358▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€31k€32k▲
Other operating charges640/8€2k€4k▲
Non-recurring operating charges66A-€2k
Gross operating margin9900€50k€25k▼
Operating profit (loss)9901€17k€-13k▼
Financial income75/76B€0€1▲
Recurring financial income75€0€1▲
Financial charges65/66B€10k€10k▲
Recurring financial charges65€10k€10k▲
Profit (loss) for the period before taxes9903€7k€-23k▼
Profit (loss) for the period9904€7k€-23k▼
Profit (loss) for the period to be appropriated9905€7k€-23k▼
Appropriation of the result
Profit (loss) to be appropriated9906€15k€-7k▼
Profit (loss) brought forward from the previous period14P€8k€15k▲
The notes to these accounts (19 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-23k ▼433%
Net result drops to €-23k, the lowest in the series.
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €7k
Net result €7k after one loss-making year.
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Seraing · 1 establishment unit since 2021
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue du Moulin 354100 SeraingGround area
45 m²
Building footprint
162 m²
Volume, LiDAR
1,180 m³
Parcel 62019A0338/00C000, Wallonia · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue du Moulin 35, 4100 Seraing
since 20212.325.747.917
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62019A0338/00C000 | Wallonia | 45 m² | 1 · 162 m² | 8.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
LA PETITE SALLE
BE 1020.607.076
Liège · Eq €20k
DREAMCHASER
BE 0797.631.691
Roosdaal · Eq €20k
i for horse
BE 0746.838.038
Deinze · Eq €20k
THE LAB V.V.F.M.
BE 0744.888.041
Lasne · Eq €20k
Monke Circle
BE 1007.371.526
Hasselt · Eq €20k
Of 13,495 companies in sector 85510 we hold annual accounts for 718. 589 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded16-12-2021
Fiscal year end31-12
Activities, NACEBEL
49410Freight transport by road
85510Sports and recreation education
01480Raising of other animals
01490Crop and animal production, hunting and related service activities
93110Operation of sports facilities
93129Activities of other sports clubs
93199Other sports activities
96993Pet care services, excluding veterinary services
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.