HYPERFAST
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 21-05-2026 PDF all 10 filings
Turnover
€0
Total assets
€16.9m▲ 194%
2024 · €5.7m
Net result
-€495,774
2024 · €295,998
Working capital
-€6.9m▼ 42.4%
2024 · -€4.9m
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
-€165,393
2025
20182025
Net result
-€495,774
2025
lowest quarter of the sector
20182025
Equity
-€318,587
2025
lowest quarter of the sector
20182025
Total assets
€16.9m
▲ 194%
2025
highest quarter of the sector
20182025
Debt
€17.2m
▲ 209%
2025
20182025
Working capital
-€6.9m
▼ 42.4%
2025
lowest quarter of the sector
20182025
Solvency
-1.9%
▼ 5.0pp
2025
lowest quarter of the sector
20182025
Current ratio
0.39
▲ 0.27
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-2.9%
▼ 8.1pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
0
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0
Operating result-€0.007m-€0.04m-€0.03m-€0.01m▲ 57.8%-€0.01m▲ 19.5%€0.1m€0.6m▲ 359%-€0.2m
Net result-€0.02m-€0.03m-€0.04mbelow the sector's middle half-€0.02mbelow the sector's middle half▲ 62.2%-€0.01mbelow the sector's middle half▲ 18.2%€0.02mwithin the sector's middle half€0.3mabove the sector's middle half▲ 18×-€0.5mbelow the sector's middle half
Equity€0.05m-€0.08m▲ 73.0%€0.04mbelow the sector's middle half▼ 48.9%€0.03mbelow the sector's middle half▼ 36.1%€0.01mbelow the sector's middle half▼ 46.3%€0.03mbelow the sector's middle half▲ 118%€0.2mwithin the sector's middle half▲ 468%-€0.3mbelow the sector's middle half
Total assets€0.4m-€0.2m▼ 48.0%€0.06mbelow the sector's middle half▼ 70.2%€0.04mbelow the sector's middle half▼ 26.3%€0.03mbelow the sector's middle half▼ 24.5%€3.9mabove the sector's middle half▲ 116×€5.7mabove the sector's middle half▲ 46.0%€16.9mabove the sector's middle half▲ 194%
Debt€0.3m-€0.1m▼ 64.5%€0.02m▼ 84.4%€0.02m▼ 4.9%€0.02m▲ 7.4%€3.9m▲ 199×€5.6m▲ 42.6%€17.2m▲ 209%
Working capital€0.1m-€0.1m▲ 11.8%€0.04mwithin the sector's middle half▼ 73.7%€0.03mwithin the sector's middle half▼ 24.4%€0.01mbelow the sector's middle half▼ 46.3%-€2.6mbelow the sector's middle half-€4.9mbelow the sector's middle half▼ 86.8%-€6.9mbelow the sector's middle half▼ 42.4%
Solvency12.0%-39.9%▲ 27.9pp68.5%within the sector's middle half▲ 28.6pp59.4%within the sector's middle half▼ 9.1pp42.2%within the sector's middle half▼ 17.1pp0.8%below the sector's middle half▼ 41.4pp3.1%below the sector's middle half▲ 2.3pp-1.9%below the sector's middle half▼ 5.0pp
Current ratio1.49-3.54▲ 2.052.84within the sector's middle half▼ 0.712.46within the sector's middle half▼ 0.381.73within the sector's middle half▼ 0.730.33below the sector's middle half▼ 1.400.13below the sector's middle half▼ 0.210.39below the sector's middle half▲ 0.27
Return on assets (ROA)-4.7%-16.8%▲ 21.5pp-65.5%below the sector's middle half▼ 82.3pp-33.6%below the sector's middle half▲ 31.9pp-36.4%below the sector's middle half▼ 2.8pp0.4%within the sector's middle half▲ 36.8pp5.2%within the sector's middle half▲ 4.7pp-2.9%below the sector's middle half▼ 8.1pp
Staff (FTE)2-0below the sector's middle half
above
within
below
The sector band is the middle half of the companies in Architectural and engineering activities; technical testing and analysis (NACE 71). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €165,393, after a profit of €563,170 in 2024. It is the lowest result since 2018.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €16.9m
Fixed assets
€12.4m ▲ 146%
Current assets
€4.4m ▲ 537%
Equity and liabilities
Equity-€318,587
Debt€17.2m
Equity is negative. Debt (€17.2m) exceeds the balance-sheet total (€16.9m).
Key figures and ratios
EBITDA
€410,701▼
2024 · €846,152
Cash flow
€80,319▼
2024 · €578,979
Interest coverage
1.07▼
2024 · 4.98
Debt ≤ 1 year
€11.4m▲
2024 · €5.6m
Debt > 1 year
€5.8m
Income taxes
-€55,072▼
2024 · €97,463
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Overdue tax debts | - | €22 | €44 | €44 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | - | - | - | - | €6.8m |
| Pledge on the business | - | - | - | - | €18.9m |
| Pledge on other assets, amount secured | - | - | - | - | €18.6m |
| Carrying value of the other pledged assets | - | - | - | - | €4.4m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €2.5m | €2.7m | €8.1m |
| Intangible fixed assets | - | - | - | €4,000 | - |
| Financial fixed assets | - | - | €187,826 | - | €0 |
| Depreciation and write-downs of the year | €6,468 | €0 | €41,844 | €282,981 | €576,094 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 to 2024 · 3 entries · €120,000 awarded · €100,000 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 2 | €0 | €100,000 |
| 2023 | 1 | €120,000 | €0 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €0 | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | - | - | - | €13,926 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €30,771 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,826 | €10,942 | €10,930 | €6,468 | €0 | €41,844 | €282,981 | €576,094 | ▲ 104% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0 | -€19,560 | €0 | - | - | - |
| Other operating charges640/8 | - | - | - | €666 | €669 | €704 | €827 | €3,994 | ▲ 383% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €10 | €280,013 | ▲ 28,719× |
| Gross operating margin9900 | €111,636 | €63,134 | -€3,839 | -€7,621 | -€30,771 | €165,356 | €846,988 | €694,707 | ▼ 18.0% |
| Operating profit (loss)9901 | -€6,733 | €40,051 | -€34,994 | -€14,756 | -€11,880 | €122,808 | €563,170 | -€165,393 | - |
| Financial income75/76B | - | - | - | €0 | €247 | €723 | €367 | €0 | ▼ 99.9% |
| Recurring financial income75 | €0 | €0 | €27 | €0 | €247 | €723 | €367 | €0 | ▼ 99.9% |
| Financial charges65/66B | - | - | - | €322 | €701 | €99,653 | €170,076 | €385,454 | ▲ 127% |
| Recurring financial charges65 | €11,221 | €5,634 | €4,899 | €322 | €701 | €99,653 | €170,076 | €385,454 | ▲ 127% |
| Non-recurring financial charges66B | - | - | - | - | - | - | €0 | - | - |
| Profit (loss) for the period before taxes9903 | -€17,954 | €34,417 | -€39,866 | -€15,078 | -€12,335 | €23,877 | €393,462 | -€550,847 | - |
| Income taxes67/77 | €387 | €0 | - | - | - | €7,000 | €97,463 | -€55,072 | - |
| Profit (loss) for the period9904 | -€18,342 | €34,417 | -€39,866 | -€15,078 | -€12,335 | €16,877 | €295,998 | -€495,774 | - |
| Profit (loss) for the period to be appropriated9905 | -€18,342 | €34,417 | -€39,866 | -€15,078 | -€12,335 | €16,877 | €295,998 | -€495,774 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.4m | €0.2m | €0.06m | €0.04m | €0.03m | €3.9m | €5.7m | €16.9m | ▲ 194% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €0.03m | €0.02m | €0.006m | €0 | - | €2.6m | €5.0m | €12.4m | ▲ 146% |
| Intangible fixed assets21 | €0.02m | €0.01m | €0.006m | €0 | - | - | €0.004m | €0.003m | ▼ 21.1% |
| Tangible fixed assets22/27 | €0.009m | €0.004m | €0 | - | - | €2.4m | €4.9m | €12.4m | ▲ 156% |
| Plant, machinery and equipment23 | - | - | - | - | - | €1.2m | €3.2m | €5.3m | ▲ 63.6% |
| Assets under construction and advance payments27 | - | - | - | - | - | €1.3m | €1.6m | €7.1m | ▲ 338% |
| Financial fixed assets28 | €0 | - | - | - | - | €0.2m | €0.2m | €0 | ▼ 100% |
| Current assets29/58 | €0.4m | €0.2m | €0.05m | €0.04m | €0.03m | €1.3m | €0.7m | €4.4m | ▲ 537% |
| Stocks and contracts in progress3 | €0.09m | €0.05m | €0.03m | €0.03m | €0.02m | €0 | - | - | - |
| Stocks30/36 | - | - | - | €0.03m | €0.02m | €0 | - | - | - |
| Amounts receivable within one year40/41 | €0.2m | €0.02m | €0.02m | €0.009m | €0.009m | €0.9m | €0.6m | €0.7m | ▲ 23.5% |
| Trade receivables40 | - | - | - | €0.002m | €0.002m | €0.9m | €0.6m | €0.5m | ▼ 8.5% |
| Other amounts receivable41 | - | - | - | €0.008m | €0.007m | €0.01m | €0.01m | €0.2m | ▲ 15× |
| Current investments50/53 | €0 | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.1m | €0.1m | €0.008m | €0.004m | €38 | €0.4m | €0.09m | €3.7m | ▲ 40× |
| Deferred charges and accrued income490/1 | - | - | - | €419 | €431 | €441 | €0.008m | €0.02m | ▲ 170% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.4m | €0.2m | €0.06m | €0.04m | €0.03m | €3.9m | €5.7m | €16.9m | ▲ 194% |
| Equity10/15 | €0.05m | €0.08m | €0.04m | €0.03m | €0.01m | €0.03m | €0.2m | -€0.3m | - |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Capital10 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Issued capital100 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.02m | €0.02m | = |
| Non-distributable reserves130/1 | - | - | - | €0.003m | €0.003m | €0.003m | €0.02m | €0.02m | = |
| Legal reserve130 | - | - | - | €0.003m | €0.003m | €0.003m | €0.02m | €0.02m | = |
| Profit (loss) carried forward14 | -€0.1m | -€0.07m | -€0.1m | -€0.1m | -€0.1m | -€0.1m | €0.01m | -€0.5m | - |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €0.3m | €0.1m | €0.02m | €0.02m | €0.02m | €3.9m | €5.6m | €17.2m | ▲ 209% |
| Amounts payable after more than one year17 | €0.1m | €0.07m | €0 | - | - | - | - | €5.8m | - |
| Financial debts170/4 | - | - | - | - | - | - | - | €5.8m | - |
| Amounts payable within one year42/48 | €0.2m | €0.05m | €0.02m | €0.02m | €0.02m | €3.9m | €5.6m | €11.4m | ▲ 104% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | - | €1.0m | - |
| Trade debts44 | €0.05m | €0.004m | €0.002m | €191 | €0.001m | €1.0m | €0.9m | €3.0m | ▲ 237% |
| Suppliers440/4 | - | - | - | €191 | €0.001m | €1.0m | €0.9m | €3.0m | ▲ 237% |
| Taxes, remuneration and social security45 | - | - | - | - | €22 | €0.007m | €0.02m | €0.01m | ▼ 37.4% |
| Taxes450/3 | - | - | - | - | €22 | €0.007m | €0.02m | €0.01m | ▼ 37.4% |
| Other amounts payable47/48 | - | - | - | €0.02m | €0.02m | €2.8m | €4.6m | €7.4m | ▲ 59.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.02m | €0.03m | -€0.04m | -€0.02m | -€0.01m | €0.02m | €0.3m | -€0.5m | - |
| + Depreciation and write-downs630 | €0.01m | €0.01m | €0.01m | €0.006m | €0 | €0.04m | €0.3m | €0.6m | ▲ 104% |
| Operating cash flow (approximation) | -€0.007m | €0.05m | -€0.03m | -€0.009m | -€0.01m | €0.06m | €0.6m | €0.08m | ▼ 86.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - | - | -€2.7m | -€7.9m | ▼ 195% |
| Change in cash | - | -€0.001m | -€0.1m | -€0.003m | -€0.004m | €0.4m | -€0.3m | €3.6m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 129 companies had the same profile as HYPERFAST has now. Two years later, 95.3% were still going and 1.6% had gone bankrupt.
- Medium-sized
- 10 to 20 years old
- negative equity
- a small loss
95.3%
was still going
2.3%
stopped otherwise
1.6%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of HYPERFAST itself is lower: < 0.1% within 12 months. It rests on far more data about HYPERFAST than the profile alone.
Test of the method
The method was tested on the 497,446 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 129 companies, not a prediction for HYPERFAST. 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.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 21-05-2026 | 2026-00122760 | |
| 31-12-2024 | abbreviated format | 19-05-2025 | 2025-00103104 | |
| 31-12-2023 | abbreviated format | 28-05-2024 | 2024-00100054 | |
| 31-12-2022 | abbreviated format | 28-07-2023 | 2023-00313920 | |
| 31-12-2021 | abbreviated format | 31-08-2022 | 2022-20418282 | |
| 31-12-2020 | abbreviated format | 06-08-2021 | 2021-46600073 | |
| 31-12-2019 | abbreviated format | 09-10-2020 | 2020-60800100 | |
| 31-12-2018 | abbreviated format | 31-07-2019 | 2019-42200386 | |
| 31-12-2017 | abbreviated format | 29-06-2018 | 2018-28400422 | |
| 31-12-2016 | abbreviated format | 30-06-2017 | 2017-25500086 |