Result
-€151,824 ▲ 91.5%
The result rose in 2025 from -€1.8m to -€151,824.
HYBRID Software Development
Lifetime
18 annual accounts with figures on one time axis, 19 filings since 2007peak €1.7m (2019)
-not published
lowest -€1.8m (2024)
-€151,824▲ €1.6m
peak €12.4m (2023)
€10.4m▼ 1.4%
€9.7m▼ 11.5%
peak 32.9 FTE (2025)
32.9 FTE▲ 8.9%
Board5 names since 2017
3 directorsBELLEVARDE FINANCIAL and 2 others
Owners4 names in the annual accounts
100%Hybrid Softwhare Group SARL and 1 other
Documentsfilings and deeds
17-07-202614 days before the deadline
2025financial year
Turnover from €10.8m to €13.5mLoss of €151,824Staff from 30.2 FTE to 32.9 FTECash from €211,783 to €334,723
Key points
from the 2025 annual accountsChecked score
88
Excellent
Financially stronger than 54% of small companies in computer and electronic products (NACE 26)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 116 companies (NACE 26, small).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025lowest value
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.3%▲ +0.1 percentage points vs 05-2025
07-2025: 0.3%● unchanged vs 06-2025
08-2025: 0.4%▲ +0.1 percentage points vs 07-2025
09-2025: 0.4%● unchanged vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.4%● unchanged vs 03-2026
05-2026: 0.4%● unchanged vs 04-2026
06-2026: 0.4%● unchanged vs 05-2026
07-2026: 0.5%▲ +0.1 percentage points vs 06-2026highest value
08-2026: 0.2%▼ -0.3 percentage points vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Liquidity: current ratio 0.52, cash €334,723
Loss of €151,824, the second in a row (financial year 2025)
Size: turnover €13.5m, 32.9 FTE, total assets €20.2m
lowers risk
Equity €10.4m (51.8% of total assets)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 26, small). It does better than 53% of them on solvency, 30% on liquidity, 72% on profitability and 60% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 2,686 companies had the same profile as HYBRID Software Development has now. Each dot stands for 7 companies, two years later.
93.7%
were still trading
5.4%
stopped another way
0.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of HYBRID Software Development itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,686 companies, not a prediction for HYBRID Software Development. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €900,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.52 (0.73 in 2024), below 1. Short-term debt is 32.5% and cash 1.7% of total assets. 48.2% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
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
1819202122232425
2018 to 2025 · latest year -€151,824
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 17-07-2026, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 days early
2024
7 days early
2023
70 days early
2022
56 days early
2021
5 days late
2020
16 days early
2019
7 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 24 days before the deadline. In the sector (NACE 26), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 17 July (4 of the last 5 accounts filed within 42 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Hybrid Softwhare Group SARL 100%annual accounts 2025
- Hybrid Software Group PLC consolidatesannual accounts 2025
Shares in 9 companies, including CONICS and HYBRID Software Australia Pty. Ltd.
Board & ownershipRecent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0889922639
2 directors reappointed
Powergraph BV (managing director) and Bellevarde Financial BV (managing director) · Permanent representatives: Guido Van der Schueren and Joachim Van Hemelen · General meeting of 17-05-2023 · Gazette deed
1 statutory auditor appointed
KPMG Bedrijfsrevisoren BV/SRL (statutory auditor) · Permanent representatives: Brecht Buysschaert, Guido Van der Schueren and Joachim Van Hemelen · General meeting of 31-10-2022 · Gazette deed
1 director appointed
Permanent representatives: Brecht Deketele and Patrick Coussement · P.C. Solutions BV · General meeting of 25-06-2021 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| HYBRID Software Development Merelbeke-Melle | €13.5m | -3.7% | 51.8% | 32.9 |
| Ucamco Ghent | €11.5m | 9.7% | 44.0% | 32.4 |
| MUTOH EUROPE Ostend | €16.9m | -9.6% | 80.1% | 27.1 |
| EKINOPS BELGIUM Leuven | €27.8m | 3.2% | 24.1% | 94.7 |
| SUMMA Gistel | €38.4m | 10.8% | 76.6% | 107.8 |
| OPTION Leuven | €3.7m | -34.9% | 14.8% | 16 |
| LUCEDA Ghent | - | - | 17.6% | 25 |
Grey: the largest companies of the sector (computer and electronic products (NACE 26)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as HYBRID Software Development: manufacture of computer, electronic and optical products (NACE 26200). They are comparable in size and age: total assets between €3.3m and €64m, founded between 1986 and 2014.
Official details
Source: KBO- Status
- Active since 07-06-2007Normal situation
- Activity
- Manufacture of computer, electronic and optical productsNACE 26200and 1 other
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.163.800.1809820 Merelbeke-Melle, since 31-05-2007
- Financial year end
- 31 December
- Peppol
- Reachable since 24-12-2025
Annual accounts 2025
- €20.2m▼ 6.6%
- Employeeson 31-12-2025
- 43▲ 34.4%
- Filing
- Filed on 17-07-2026, 14 days before the end of the filing period
Companies linked to HYBRID Software Development
Subsidiaries and holdings
- HYBRID Software BrandZ100%
- Hybrid Software99.98%
Insights on HYBRID Software Development
HYBRID Software Development has existed since 2007. In 2016 the gross margin rose from €25,631 to €210,313.
Hybrid Softwhare Group SARL holds all the shares. In March 2024, the Official Gazette published the appointment of BELLEVARDE FINANCIAL as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about HYBRID Software Development
- What is the company number of HYBRID Software Development?
- The company number of HYBRID Software Development is 0889.922.639. The VAT number is the same number with BE in front: BE 0889.922.639.
- Where is HYBRID Software Development based?
- The registered office is at Guldensporenpark 18, 9820 Merelbeke-Melle.Company details
- What does HYBRID Software Development do?
- According to the KBO register, the main activity is manufacture of computer, electronic and optical products (NACE 26200).
- What is the legal form of HYBRID Software Development?
- HYBRID Software Development is a public limited company (NV).
- When was HYBRID Software Development founded?
- HYBRID Software Development was founded on 07-06-2007.
- Is HYBRID Software Development still active?
- Yes, HYBRID Software Development is an active enterprise in the KBO register.
- How many employees does HYBRID Software Development have?
- HYBRID Software Development had an average of 32.9 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does HYBRID Software Development fall under?
- In its 2025 annual accounts, HYBRID Software Development states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of HYBRID Software Development?
- The turnover of HYBRID Software Development was €13.5m in financial year 2025, according to the filed annual accounts.
- Is HYBRID Software Development profitable?
- In financial year 2025, HYBRID Software Development made a loss of €151,824.
- Where can I find the annual accounts of HYBRID Software Development?
- HYBRID Software Development filed 19 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of HYBRID Software Development due?
- HYBRID Software Development must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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