Equity
€967,981 from €3.0m in 2022
Equity fell by 68% in 3 years.
Hybrid Software
Lifetime
14 annual accounts with figures on one time axispeak €1.9m (2021)
-not published
lowest -€1.1m (2012)
€188,333▲ €644,157
peak €3.0m (2022)
€967,981▲ 24.2%
€1.2m▲ 87.9%
peak 12.5 FTE (2024)
12.1 FTE▼ 3.2%
Board5 names since 2019
3 directorsBELLEVARDE FINANCIAL and 2 others
Owners6 names in the annual accounts
99.98%HYBRID Software Development and 2 others
Documentsfilings and deeds
17-07-202614 days before the deadline
2025financial year
Turnover from €3.6m to €4.9mBack to profit: €188,333Equity from €779,648 to €967,981Debts from €639,821 to €1.2mCash from €485,322 to €685,042
Key points
from the 2025 annual accountsResult
€188,333 €188,333
Back in profit in 2025, after a loss of €455,823 in 2024.
Growth
3 years
3 years of growth in a row. Turnover 2025: €4.9m.
Debts
€1.2m ▲ 87.9%
Debts rose by €562,564 in 2025.
Staff
13 employees on 31-12-2025
In 2025, 2 people joined and 3 left.
Filings
14 annual accounts since 2012
The 2021 accounts came 5 days late. The other nine of the last ten were filed on time.
Checked score
96
Excellent
Financially stronger than 65% of small companies in publishing (NACE 58)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 109 companies (NACE 58, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%lowest value
01-2025: < 0.1%● unchanged vs 12-2024lowest value
02-2025: < 0.1%● unchanged vs 01-2025lowest value
03-2025: < 0.1%● unchanged vs 02-2025lowest value
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: 0.1%▲ +0.1 percentage points vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.2%▲ +0.1 percentage points vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.1%▼ -0.1 percentage points vs 05-2026
07-2026: 0.2%▲ +0.1 percentage points vs 06-2026highest value
08-2026: < 0.1%▼ -0.2 percentage points vs 07-2026
09-2026: < 0.1%● unchanged vs 08-2026
10-2026: < 0.1%● unchanged vs 09-2026
11-2026: < 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
lowers risk
Liquidity: current ratio 3.92, cash €685,042
Figures for financial year 2025 (filed on 17-07-2026)
Sector: Publishing activities (NACE 58)
Profit of €188,333 (financial year 2025)
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 58, small). It does better than 51% of them on solvency, 79% on liquidity, 47% on profitability and 84% 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, 17,811 companies had the same profile as Hybrid Software has now. Each dot stands for 45 companies, two years later.
96.5%
were still trading
3.2%
stopped another way
0.3%
went bankrupt
That fits the bankruptcy probability of Hybrid Software itself: < 0.1% 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 17,811 companies, not a prediction for Hybrid Software. 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 €90,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 3.92 (3.81 in 2024), above the usual 1.5. Short-term debt is 24.8% and cash 31.6% of total assets. However, 55.4% 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
5 signals, none raises the risk
Five signals.
lowers riskneutral
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
84 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 28 days before the deadline. In the sector (NACE 58), the median for financial year 2024 was 7 days before the deadline, and 37% 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 55 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 Software Development 99.98%score 88equity €10.4m (2025) · annual accounts 2025
- Hybrid Software Group PLC consolidatesannual accounts 2025
- Hybrid Software France SAS 0.02%annual accounts 2025
Shares in 1 company, Hybrid Software China Co. Ltd.
Board & ownershipRecent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0839161252
Capital decrease of €1,450,000 to €250,000
Capital after the decrease: €250,000 · Reappointments: BV Powergraph, BV Bellevarde Financial and BV P.C. Solutions · Permanent representatives: Guido Van Der Schueren, Joachim Van Hemelen and Patrick Coussement · General meeting of 04-07-2023 · 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
Permanent representative: Brecht Deketele
Appointment: P.C. Solutions BV (director) · General meeting of 25-06-2021 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Hybrid Software Merelbeke-Melle | €4.9m | 4.6% | 44.6% | 12.1 |
| MONIN Edegem | €4.3m | 7.8% | 67.9% | 10 |
| VAIMO BENELUX Genk | €6.7m | 3.4% | 54.5% | 13.4 |
| Billtrust Belgium Ghent | €5.6m | 12.0% | -27.8% | 22.1 |
| Tilroy Aartselaar | €6.4m | 11.0% | 74.9% | 23.4 |
| MANEX Liège | €2.3m | 5.1% | 21.7% | 23.3 |
| Aptean Drink-IT Wichelen | €5.8m | 0.3% | -32.6% | 11.6 |
Grey: the largest companies of the sector (publishing (NACE 58)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as Hybrid Software: other software publishing (NACE 58290). They are comparable in size and age: total assets between €776,000 and €6.6m, founded between 2006 and 2019.
Official details
Source: KBO- Status
- Active since 17-08-2011Normal situation
- Activity
- Other software publishingNACE 58290and 1 other
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.202.422.2169820 Merelbeke-Melle, since 24-08-2011
- Financial year end
- 31 December
- Peppol
- Reachable since 24-12-2025
Annual accounts 2025
- €2.2m▲ 52.9%
- Employeeson 31-12-2025
- 13▼ 7.1%
- Filing
- Filed on 17-07-2026, 14 days before the end of the filing period
Insights on Hybrid Software
Hybrid Software has existed since 2011. The gross margin fell from €1.7m in 2017 to €309,544 in 2019, while staff rose from 6.6 to 9.3 full-time equivalents.
Solvency fell in 2025 from 54.9% to 44.6% because of higher debts to suppliers.
HYBRID Software Development holds all the shares.
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
- What is the company number of Hybrid Software?
- The company number of Hybrid Software is 0839.161.252. The VAT number is the same number with BE in front: BE 0839.161.252.
- Where is Hybrid Software based?
- The registered office is at Guldensporenpark 18, 9820 Merelbeke-Melle.Company details
- What does Hybrid Software do?
- According to the KBO register, the main activity is other software publishing (NACE 58290).
- What is the legal form of Hybrid Software?
- Hybrid Software is a public limited company (NV).
- When was Hybrid Software founded?
- Hybrid Software was founded on 17-08-2011.
- Is Hybrid Software still active?
- Yes, Hybrid Software is an active enterprise in the KBO register.
- How many employees does Hybrid Software have?
- Hybrid Software had an average of 12.1 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Hybrid Software fall under?
- In its 2025 annual accounts, Hybrid Software states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of Hybrid Software?
- The turnover of Hybrid Software was €4.9m in financial year 2025, according to the filed annual accounts.
- Is Hybrid Software profitable?
- In financial year 2025, Hybrid Software made a profit of €188,333.
- Where can I find the annual accounts of Hybrid Software?
- Hybrid Software filed 14 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Hybrid Software due?
- Hybrid Software must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence See whether the workforce is growing and whether people stay.Employer check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check See the other companies in the same group.HYBRID Software Development · 11 companies
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