Turnover
≈ €120,000 estimated
The micro format states no turnover.
HyphenR
Lifetime
2 annual accounts with figures on one time axispeak €40,140 (2025)
€40,140▲ 158%
peak €31,339 (2025)
€31,339▲ 159%
peak €44,452 (2025)
€44,452▲ 239%
€42,344▼ 22.4%
Board1 name since 2023
1 directorPiet-Michiel Rappelet
Documentsfilings and deeds
16-01-202615 days before the deadline
2025micro format
Gross margin from €15,575 to €40,140Result from €12,113 to €31,339Equity from €13,113 to €44,452Debts from €54,573 to €42,344
Key points
from the 2025 annual accountsInvestments
€1,305 35.8 × depreciation
Green is investment, beige is depreciation.
Liquidity
2.02 was 1.24 in 2024
Short-term debts fell from €54,423 to €42,269.
Checked score
96
Excellent
Financially stronger than 64% of micro companies in head offices and management consultancy (NACE 70)
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 48,570 companies (NACE 70, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.4%
01-2025: 0.4%● unchanged vs 12-2024highest value
02-2025: 0.1%▼ -0.3 percentage points vs 01-2025lowest value
03-2025: 0.1%● unchanged vs 02-2025
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%● unchanged 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: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.1%● unchanged 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
raises risk
Founded in 2023
lowers risk
Sector: Activities of head offices; management consultancy activities (NACE 70)
Liquidity: current ratio 2.02, cash €16,255
Equity €44,452 (51.2% 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 70, micro). It does better than 47% of them on solvency, 30% on liquidity, 84% on profitability and 95% 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 30-06-2025.
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, 39,278 companies had the same profile as HyphenR has now. Each dot stands for 99 companies, two years later.
95.8%
were still trading
2.3%
stopped another way
1.8%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of HyphenR itself is lower: 0.1% within 12 months. It rests on far more data about HyphenR than the profile alone.
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 39,278 companies, not a prediction for HyphenR. 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 €4,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.02 (1.24 in 2024), above the usual 1.5. Short-term debt is 48.7% and cash 18.7% of total assets. 48.8% 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
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 16-01-2026, 15 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
15 days early
2024
15 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 15 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsWhere today falls in the filing period
30-06-2026 year end10-11-2026 today31-01-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0804377151
First establishment
Sint-Dionysiusstraat 44, Ghent
Incorporation
Founding capital of €1,000, 50 shares · Founder: Piet-Michiel Rappelet (comparant) · Appointment: Piet-Michiel Rappelet (director) · published on 01-08-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| HyphenR Ghent | €86,796 | €40,140 | 51.2% | - |
| KOBACON Sint-Lievens-Houtem | €90,939 | €40,232 | 52.1% | - |
| Equifin Consulting Evergem | €88,257 | €38,633 | 52.3% | - |
| ELVAco Zottegem | €80,208 | €38,536 | 89.4% | - |
| X-PierienceS Evergem | €89,948 | €42,617 | 47.5% | - |
| CARL Ghent | €94,413 | €44,725 | 71.6% | - |
| Energy.gent Ghent | €76,344 | €36,641 | 71.5% | - |
These companies have the same main activity as HyphenR: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €76,300 and €94,400, founded in 2023.
Official details
Source: KBO- Status
- Active since 28-07-2023Normal situation
- Activity
- Business and other management consultancyNACE 70200
- Establishment unit
- 2.349.736.1169051 Ghent, since 01-09-2023
- Financial year end
- 30 June
- Peppol
- Reachable since 21-01-2025
Annual accounts to 30-06-2025
- €86,796▲ 28.2%
- Filing
- Filed on 16-01-2026, 15 days before the end of the filing period
Insights on HyphenR
HyphenR has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €44,452 and a net result of €31,339.
Its solvency ranks better than 46% of 39,364 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
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 HyphenR
- What is the company number of HyphenR?
- The company number of HyphenR is 0804.377.151. The VAT number is the same number with BE in front: BE 0804.377.151.
- Where is HyphenR based?
- The registered office is at Sint-Dionysiusstraat 44, 9051 Ghent.Company details
- What does HyphenR do?
- According to the KBO register, the main activity is business and other management consultancy (NACE 70200).
- What is the legal form of HyphenR?
- HyphenR is a private limited company (BV).
- When was HyphenR founded?
- HyphenR was founded on 28-07-2023.
- Is HyphenR still active?
- Yes, HyphenR is an active enterprise in the KBO register.
- What is the turnover of HyphenR?
- The turnover in financial year 2025 is ≈ €120,000. This figure is estimated from the gross margin of €40,140 and 144 comparable companies (NACE 70200). It probably lies between €70,000 and €160,000.Financials
- Is HyphenR profitable?
- In financial year 2025, HyphenR made a profit of €31,339.
- Where can I find the annual accounts of HyphenR?
- HyphenR filed 2 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of HyphenR due?
- HyphenR must file the annual accounts for financial year 2026 by 31-01-2027.Timeline
Next steps
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