Hybrid Software

Active

Public limited companyfounded 201115 yrs activeGuldensporenpark 18, 9820 Merelbeke-Melle, BelgiumKBO/BCE: BE 0839.161.252

Hybrid Software has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €968k and a net result of €188k. Equity is shrinking by ~8.9% per year across the filed fiscal years. Its solvency ranks better than 57% of 145 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

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Checked score

Score 2025

79 / 100

Excellent

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability67▲+26

Solvency70▼-10

Growth50▲+9

Track record100

Bankruptcy probability, 12 months

0.2% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €75k at 30 days acceptable

Liquidity ample (current ratio 3.92 against 3.81 in 2024; short-term debt: 24.8% and cash: 31.6% of total assets), but 55.4% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 58

Relative position

BE, all sectors

reference

Sector 58

lower

← fewer bankruptcies more bankruptcies →

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

44.6%

Return on assets

8.7%

Age of the figures

9 mo

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-07-2026, 14 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

14 d early

2024

7 d early

2023

70 d early

2022

84 d early

2021

5 d late

2020

16 d early

2019

7 d early

← before the deadline after the deadline →

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 months

Position in the running window

16-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, full schema

Source amounts without an identifiable currency are assumed to be EUR.

Turnover

€4.88M▲ 34.8%

2024 · €3.62M

2022: €3.16M 2023: €3.48M 2024: €3.62M

2022 → 2025

EBIT margin

4.6%▲ 5.1pp

2024 · -0.5%

2022: 5.5% 2023: 4.8% 2024: -0.5%

2022 → 2025

Net result

€188k

2024 · €-456k

2018: €723k 2019: €-942k 2020: €-38k 2021: €1.73M 2022: €29k 2023: €158k 2024: €-456k

2018 → 2025

Working capital

€1.57M▲ 60.2%

2024 · €982k

2018: €2.20M 2019: €1.67M 2020: €1.67M 2021: €3.18M 2022: €3.11M 2023: €1.54M 2024: €982k

2018 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Turnover€3.16M€3.48M▲ 10.3%€3.62M▲ 4.0%€4.88M▲ 34.8%

Equity€3.00M-€3.03M▲ 1.0%€1.24M▼ 59.2%€780k▼ 36.9%€968k▲ 24.2%

Operating result€714k-€173k▼ 75.8%€167k▼ 3.7%€-19k€225k

Net result€1.73M-€29k▼ 98.3%€158k▲ 444%€-456k€188k

Result per fiscal year

Operating resultNet result

The operating result returns to profit in 2025: €225k after a loss of €19k in 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €2.17M

97.3%

Fixed assets €58k▼ 34.4%

Current assets €2.11M▲ 58.7%

Equity and liabilities €2.17M

44.6%

55.4%

Equity €968k▲ 24.2%

Debt €1.20M▲ 87.9%

The debt ratio rises from 45.1% to 55.4%. Equity and debt are higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€264k▲

2024 · €27k

Cash flow

€228k▲

2024 · €-409k

Solvency

44.6%▼

2024 · 54.9%

Current ratio

3.92▲

2024 · 3.81

Quick ratio

3.51▲

2024 · 3.28

Debt / equity

1.24▲

2024 · 0.82

ROE

19.5%▲

2024 · -58.5%

ROA

8.7%▲

2024 · -32.1%

Interest coverage

7.24▼

2024 · 1572.91

Debt

€1.20M▲

2024 · €640k

Debt ≤ 1 year

€539k▲

2024 · €349k

Income taxes

€2k▲

2024 · €1k

Staff costs

€959k▲

2024 · €932k

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€1.42M€2.17M▲

Fixed assets21/28€88k€58k▼

Tangible fixed assets22/27€88k€58k▼

Furniture and vehicles24€88k€58k▼

Other tangible fixed assets26€227-

Financial fixed assets28€1€1=

Affiliated companies280/1€1€1=

Participating interests280€1€1=

Current assets29/58€1.33M€2.11M▲

Stocks and contracts in progress3€186k€219k▲

Contracts in progress37€186k€219k▲

Amounts receivable within one year40/41€531k€915k▲

Trade receivables40€486k€713k▲

Other amounts receivable41€45k€202k▲

Cash at bank and in hand54/58€485k€685k▲

Deferred charges and accrued income490/1€129k€293k▲

Equity and liabilities

Total equity and liabilities10/49€1.42M€2.17M▲

Equity10/15€780k€968k▲

Contributions10/11€250k€250k=

Capital10€250k€250k=

Issued capital100€250k€250k=

Reserves13€25k€25k=

Non-distributable reserves130/1€25k€25k=

Legal reserve130€25k€25k=

Profit (loss) carried forward14€505k€693k▲

Amounts payable17/49€640k€1.20M▲

Amounts payable within one year42/48€349k€539k▲

Trade debts44€184k€326k▲

Suppliers440/4€184k€326k▲

Advances received on contracts in progress46€177€3k▲

Taxes, remuneration and social security45€165k€210k▲

Taxes450/3€27k€29k▲

Remuneration and social security454/9€137k€181k▲

Accrued charges and deferred income492/3€291k€664k▲

Income statement Code20242025

Operating income70/76A€3.49M€4.96M▲

Turnover70€3.62M€4.88M▲

Change in stocks of work in progress, finished goods and contracts in progress71€-180k€33k▲

Other operating income74€46k€43k▼

Operating charges60/66A€3.51M€4.73M▲

Goods for resale, raw materials and consumables60€1.31M€2.48M▲

Purchases600/8€1.31M€2.48M▲

Services and other goods61€1.24M€1.26M▲

Remuneration, social security and pensions62€932k€959k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€46k€39k▼

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-23k€-14k▲

Other operating charges640/8€7k€4k▼

Operating profit (loss)9901€-19k€225k▲

Financial income75/76B€3k€2k▼

Recurring financial income75€3k€2k▼

Other financial income752/9€3k€2k▼

Financial charges65/66B€438k€37k▼

Recurring financial charges65€438k€37k▼

Debt charges650€17-

Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651€435k-

Other financial charges652/9€3k€37k▲

Profit (loss) for the period before taxes9903€-454k€190k▲

Income taxes67/77€1k€2k▲

Taxes670/3€1k€2k▲

Tax adjustments and reversals of tax provisions77-€2

Profit (loss) for the period9904€-456k€188k▲

Profit (loss) for the period to be appropriated9905€-456k€188k▲

Appropriation of the result

Profit (loss) to be appropriated9906€505k€693k▲

Profit (loss) brought forward from the previous period14P€960k€505k▼

Social balance

Average headcount (FTE)908712.512.1▼

The notes to these accounts (36 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 14Financial 4Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

17-07

NBB filing Annual accounts filed

fiscal year 2025 · full schema

2025

31-12

Financial Back to profitnet €188k

Net result €188k after one loss-making year.

24-07

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

22-05

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

08-05

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

05-08

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema · 5 days late

2021

31-12

Financial Back to profitnet €1.73M

Net result €1.73M after 2 loss-making years.

31-12

Financial Equity above €2MEq €3.00M ▲136%

Equity rises from €1.27M to €3.00M.

15-07

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

24-07

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2019

31-12

Financial Weakest financial yearnet €-942k ▼230%

Net result drops to €-942k, the lowest in the series; recovery starts the following year.

29-04

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2018

26-06

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2017

27-06

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.

Directors · office · real estate

Directors

11 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, Merelbeke-Melle · 1 establishment unit since 2011

establishment The establishment unit on the map

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.

Guldensporenpark 189820 Merelbeke-Melle

Ground area

3.0 ha

Building footprint

657 m²

Volume, LiDAR

13,052 m³