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HYGI PANEL

Active
Rue Georges Cosse, ZI, Nov. 4 ·5380 Fernelmont, Belgium
KBO/BCE: BE 0886.015.816
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Age19 yrs
Board3

Summary

Conclusion

the dossier summarised in one paragraph

The KBO register records legal situation 050 for HYGI PANEL (Register: open bankruptcy); this is today's state according to the register itself, which carries no start date. The 2023 annual accounts show equity of €1.21M and a net result of €161k.

Based on the State Gazette, CBE and 6 annual accounts.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

Bankruptcy opened

A bankruptcy procedure is already open, a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.

Signals

2 signals · with evidence
Consistently profitable
Positive net result in the two most recent financial years (2022 and 2023).
View the result trend
Growing equity
Equity grew over 2021-2023. Profits are largely retained rather than distributed.
View the equity trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide
Filing behaviour not assessed
The register records an open bankruptcy. From that point the trustee files and the ordinary seven-month rhythm no longer governs. The register carries no start date, so we cannot tell which filings fall before it: we show the facts and do not assess the behaviour.
Latest accounts filed on time
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 17-07-2024, 14 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.
How we compute the deadline
The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2023, that is 31-07-2024.
Deadline per financial year
Year closed Due by Filed Variance Reference
31-12-2025 31-07-2026 nothing on record not filed -
31-12-2024 31-07-2025 nothing on record not filed -
31-12-2023 31-07-2024 17-07-2024 14 d early 2024-00252950
31-12-2022 31-07-2023 31-07-2023 on the day 2023-00315333
31-12-2021 31-07-2022 28-07-2022 3 d early 2022-20265129
31-12-2020 31-07-2021 22-06-2021 39 d early 2021-22600132
31-12-2019 31-07-2020 24-09-2020 55 d late 2020-55000496
31-12-2018 31-07-2019 09-07-2019 22 d early 2019-30000283
31-12-2017 31-07-2018 30-08-2018 30 d late 2018-60200576
31-12-2016 31-07-2017 30-08-2017 30 d late 2017-55100570
31-12-2015 31-07-2016 31-10-2016 92 d late 2016-66600510
31-12-2014 31-07-2015 31-07-2015 on the day 2015-38500356

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

1 signal
Register: open bankruptcy
The KBO register records legal situation 050 for this company. This is today's state according to the register itself; the register carries no start date.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Financials

TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€161k+2023.5%
Working capital€576k+128.5%

Annual accounts & ratios

Source: NBB · 2023
Annual accounts filed on 17-07-2024 with the NBB · fiscal year 2023 · volledig
€0€50k€100k€150k€200kOperating result 2019: €31k€31kNet result 2019: €54k€54kOperating result 2020: €53k€53kNet result 2020: €83k€83kOperating result 2021: €20k€20kNet result 2021: €14k€14kOperating result 2022: €27k€27kNet result 2022: €8k€8kOperating result 2023: €190k€190kNet result 2023: €161k€161k20192020202120222023
Operating resultNet result
Sector comparison
Fiscal year 2023 · NACE 22 · compared across all schema types (micro, abbreviated and full combined)
Metric This company Sector median Position in the sector
Solvency 38.3% 23.3%
better than 69% of 78 sector peers
Net result €161k €16k
better than 82% of 78 sector peers
Equity €1.21M €44k
better than 82% of 78 sector peers
Gross operating margin €821k €87k
better than 89% of 68 sector peers
Staff costs €498k €211k
higher than 65% of 51 sector peers
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
Solvency P69
2020: P32 · n=432021: P38 · n=512022: P31 · n=702023: P69 · n=782020 2023
Improving position over 2020-2023 · n=43-78
Net result P82
2020: P49 · n=432021: P30 · n=512022: P45 · n=702023: P82 · n=782020 2023
Improving position over 2020-2023 · n=43-78
Equity P82
2020: P41 · n=432021: P48 · n=512022: P57 · n=702023: P82 · n=782020 2023
Improving position over 2020-2023 · n=43-78
Gross operating margin P89
2020: P80 · n=312021: P91 · n=402022: P91 · n=592023: P89 · n=682020 2023
Stable position over 2020-2023 · n=31-68
Describes the position versus peers, not a forecast.
EBITDA
€299k
+186.7% 18-23
Net profit
€161k
+2023.5% 18-23
Cash flow
€270k
+216.8% 18-23
Total assets
€3.17M
+109.0% 18-23
Equity
€1.21M
+602.3% 18-23
Working capital
€576k
+128.5% 18-23
Employees (FTE)
497,557
-19.4% 18-23
Staff costs
€498k
-19.4% 18-23
Show 11 other metrics
Income taxes
€-9k
- 18-23
Debt
€1.96M
+45.6% 18-23
Debt ≤ 1y
€1.47M
+50.0% 18-23
Debt > 1y
€487k
+33.3% 18-23
Current ratio
1.39
+10.7% 18-23
Quick ratio
0.95
+47.0% 18-23
Solvency
38.3%
+236.1% 18-23
Debt / equity
1.61
-79.3% 18-23
ROE
13.3%
+202.4% 18-23
ROA
5.1%
+916.2% 18-23
Interest coverage
5.54
+96.9% 18-23
Figures by fiscal year
Fiscal year2023
Depositvolledig
Revenue-
EBITDA€299k
Net profit€161k
Cash flow€270k
Staff costs€498k
Income taxes€-9k
Dividends-
Total assets€3.17M
Equity€1.21M
Debt€1.96M
of which ≤ 1y€1.47M
of which > 1y€487k
Working capital€576k
Employees (FTE)497,556.8
Ratios (computed)
2023
Current ratio1.39
Quick ratio0.95
Working capital ratio18.2%
Solvency38.3%
Debt / equity1.61
Long-term debt ratio0.40
Interest coverage5.54
Gross margin-
Net margin-
ROA5.1%
ROE13.3%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2023
Full annual accounts (27 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2023
Balance sheet, Assets
TOTAL ASSETS 20/58€3.17M
Fixed assets 21/28€1.13M
Intangible fixed assets 21€201k
Tangible fixed assets 22/27€923k
Financial fixed assets 28€2k
Current assets 29/58€2.04M
Stocks & contracts in progress 3€649k
Amounts receivable within one year 40/41€950k
Investments 50/53€180k
Cash & bank 54/58€97k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€3.17M
Equity 10/15€1.21M
Contributions / capital 10/11€37k
Reserves 13€184k
Accumulated profits (losses) 14€168k
Amounts payable 17/49€1.96M
Amounts payable after one year 17€487k
Amounts payable within one year 42/48€1.47M
Trade debts payable within one year 44€429k
Income statement
Gross operating margin 9900€821k
Operating result 9901€190k
Financial income 75€16k
Financial charges 65€54k
Result before taxes 9903€152k
Income taxes 67/77€-9k
Net result for the period 9904€161k
Result to be appropriated 9905€161k
This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan. See plans →
Ratios computed by Checked.

Health barometer

FY 2023 · computed
24 / 100 Critical
050100
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →
Computed by Checked from the NBB filing for FY 2023 and the legal situation the KBO register itself records. Indicative, not credit advice.

Directors

Directors & mandates

3 directors
Current directors & mandates
  • NAMUR INVEST SALegal entity
    Director
    State Gazette act 25021943 (12-02-2025)
    Current
    01-01-2025 → present
  • ARTLEXPrivate limited company
    Director· perm. rep.: Maxim Van Buggenhout
    State Gazette act 23142314 (09-11-2023)
    Current
    01-11-2023 → present
  • Raymond JONKERS
    Director
    State Gazette act 23142314 (09-11-2023)
    Current
    01-11-2023 → present
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.

Insolvency mandates

No insolvency mandates (liquidators, administrators) on record for this company.

Legal Structure

NACE primary Vervaardiging van platen, vellen, buizen en profielen van kunststof(22210)
Legal form Private limited company(610)
Incorporation21-12-2006
StatusActive
Postal code5380

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank
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 Georges Cosse, ZI, Nov. 45380 Fernelmont

Establishment units

1 location
HYGI PANEL
Rue Georges Cosse, ZI, Nov. 4, 5380 FernelmontVervaardiging van radiatoren, stoomketels en ketels voor centrale verwarming
since 20072.158.262.668
Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Publications

Lifecycle & Insolvency Signals

No insolvency signals found in the Belgian State Gazette. The KBO register does record a special legal situation for this company, so do not read this as a clean bill of health.

Belgisch Staatsblad · acts

3 acts
All acts · 3 updated 1 year ago
2025
12-02-2025 2 directors appointed Director changes
  • NAMUR INVEST SA, Bestuurder
  • Maxim Van Buggenhout, Dagelijks bestuur
2024
10-09-2024 2 directors appointed Director changes
  • Maxim Van Buggenhout, Gedelegeerd bestuurder
  • Lorenzo BONGIOVANNI, Gedelegeerd bestuurder
2023
09-11-2023 3 directors appointed Director changes
  • Raymond JONKERS, Bestuurder
  • Maxim Van Buggenhout, Bestuurder
  • Maxim Van Buggenhout, Mandataire spécial

Analysis

Financial profile

5 of 5 axes measured
Health24Profitability67Solvency68Growth78Stability0
47 / 100

Mixed profile: strong on growth, weaker on stability.

All 5 axes are computed from data Checked has read.

Health 24
Profitability 67
Solvency 68
Growth 78
Stability 0

Credit advice

verdict per customer and amount

May this customer buy amount X on invoice? Enter the amount and the payment term. This page computes a GREEN, AMBER or RED verdict from them, with a suggested ceiling and concrete conditions.

Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.

Similar

Similar companies

Comparable size, same sector
We hold annual accounts for 27 of the 364 companies in this sector. 21 of them are within a factor 10 of this company's equity.

Company registry

Company registry (CBE)

Crossroads Bank
Activities
Vervaardiging van platen, vellen, buizen en profielen van kunststof22210Installatie van isolatie43230Isolatiewerkzaamheden43291Schrijnwerk43320Overige gespecialiseerde bouwactiviteiten, neg43990Overige gespecialiseerde bouwwerkzaamheden43999
Primary activity highlighted.
Names & trade names
Legal nameFR HYGI PANEL
Registered office
Rue Georges Cosse, ZI, Nov. 4
5380 Fernelmont, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.