PulseHCS
ActiveSummary
PulseHCS has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €250,452 and a net result of €38,763. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 68% of 3221 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▼-19
Solvency98▲+15
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €20,000 at 30 days acceptable
Liquidity ample (current ratio 3.01 against 1.97 in 2024; short-term debt: 27.2% and cash: 1.5% of total assets), and 27.2% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
72.8%
Return on assets
11.3%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
202122232425
2020 to 2025 · latest year €250,452
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 27-07-2026, 4 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
4 d early
2024
24 d early
2023
8 d early
2022
31 d late
2021
4 d late
2020
26 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 5 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, full schema
Turnover
€391,000▼ 27.4%
2024 · €538,800
EBIT margin
14.4%▼ 27.9pp
2024 · 42.3%
Net result
€38,763▼ 75.4%
2024 · €157,691
Working capital
€188,444▲ 26.9%
2024 · €148,542
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€2.2m▲ 13.5%€2.2m▲ 2.7%€479,257▼ 78.5%€538,800▲ 12.4%€391,000▼ 27.4%
Operating result-€36,699€13,891€76,383▲ 450%€227,971▲ 198%€56,200▼ 75.3%
Net result-€58,292-€32,604▲ 44.1%€46,027€157,691▲ 243%€38,763▼ 75.4%
EBIT margin-1.7%▼ 6.7pp0.6%▲ 2.3pp15.9%▲ 15.3pp42.3%▲ 26.4pp14.4%▼ 27.9pp
Equity€40,575▼ 59.0%€7,971▼ 80.4%€53,999▲ 577%€211,689▲ 292%€250,452▲ 18.3%
Total assets€449,683▲ 23.8%€376,874▼ 16.2%€623,754▲ 65.5%€365,447▼ 41.4%€344,124▼ 5.8%
Debt€409,108▲ 54.8%€368,903▼ 9.8%€569,756▲ 54.4%€153,757▼ 73.0%€93,654▼ 39.1%
Working capital€27,324▼ 73.5%-€61,796-€10,800▲ 82.5%€148,542€188,444▲ 26.9%
Staff (FTE)28.6▲ 88.2%29.2▲ 2.1%5.3▼ 81.8%2.4▼ 54.7%2▼ 16.7%
Why a figure moved sharply
- 2025 Net result -75% on 2024. The accounts now follow the full schema, last year the abbreviated schema.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 75% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €344,124
Fixed assets
€62,042 ▼ 1.8%
Current assets
€282,082 ▼ 6.7%
Equity and liabilities €344,124
Equity
€250,452 ▲ 18.3%
Provisions
€19
Debt
€93,654 ▼ 39.1%
Debt's share of the balance-sheet total falls from 42.1% to 27.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€57,350▼
2024 · €229,662
Cash flow
€39,912▼
2024 · €159,381
Current ratio
3.01▲
2024 · 1.97
Debt to equity
0.37▼
2024 · 0.73
ROE
15.5%▼
2024 · 74.5%
ROA
11.3%▼
2024 · 43.2%
Interest coverage
11.53▼
2024 · 25.29
Debt ≤ 1 year
€93,638▼
2024 · €153,713
Income taxes
€13,385▼
2024 · €61,408
Staff costs
€137,150▼
2024 · €154,978
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,964 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 26,964 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €2.2m | €2.2m | €479,257 | €538,800 | €391,000 | ▼ 27.4% |
| Non-recurring operating income76A | - | - | - | - | €8,276 | - |
| Goods, raw materials, services and sundry goods60/61 | €746,179 | €873,381 | €247,238 | €164,001 | €209,282 | ▲ 27.6% |
| Remuneration, social security and pensions62 | €1.5m | €1.5m | €109,478 | €154,978 | €137,150 | ▼ 11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,906 | €6,370 | €7,142 | €1,691 | €1,149 | ▼ 32.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €19 | - |
| Other operating charges640/8 | €660 | €1,145 | €4,751 | €982 | €1,273 | ▲ 29.7% |
| Non-recurring operating charges66A | - | €25 | €451 | - | - | - |
| Gross operating margin9900 | €1.5m | €1.5m | €198,205 | €385,622 | €195,792 | ▼ 49.2% |
| Operating profit (loss)9901 | -€36,699 | €13,891 | €76,383 | €227,971 | €56,200 | ▼ 75.3% |
| Financial income75/76B | €113 | €11 | €15 | €207 | €922 | ▲ 345% |
| Recurring financial income75 | €113 | €11 | €15 | €207 | €922 | ▲ 345% |
| Non-recurring financial income76B | - | - | €15 | €207 | - | - |
| Financial charges65/66B | €11,727 | €21,977 | €15,995 | €9,080 | €4,976 | ▼ 45.2% |
| Recurring financial charges65 | €11,727 | €21,977 | €15,995 | €9,080 | €4,976 | ▼ 45.2% |
| Profit (loss) for the period before taxes9903 | -€48,312 | -€8,075 | €60,402 | €219,099 | €52,147 | ▼ 76.2% |
| Income taxes67/77 | €9,979 | €24,529 | €14,375 | €61,408 | €13,385 | ▼ 78.2% |
| Profit (loss) for the period9904 | -€58,292 | -€32,604 | €46,027 | €157,691 | €38,763 | ▼ 75.4% |
| Profit (loss) for the period to be appropriated9905 | -€58,292 | -€32,604 | €46,027 | €157,691 | €38,763 | ▼ 75.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €449,683 | €376,874 | €623,754 | €365,447 | €344,124 | ▼ 5.8% |
| Fixed assets21/28 | €13,251 | €69,827 | €64,882 | €63,191 | €62,042 | ▼ 1.8% |
| Intangible fixed assets21 | €10,083 | €5,042 | - | - | - | - |
| Tangible fixed assets22/27 | €1,567 | €2,785 | €2,882 | €1,191 | €42 | ▼ 96.5% |
| Plant, machinery and equipment23 | €1,567 | €2,259 | €2,606 | €1,165 | €42 | ▼ 96.4% |
| Furniture and vehicles24 | - | €526 | €276 | €26 | - | - |
| Financial fixed assets28 | €1,600 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Current assets29/58 | €436,433 | €307,047 | €558,872 | €302,255 | €282,082 | ▼ 6.7% |
| Amounts receivable within one year40/41 | €336,291 | €263,863 | €533,889 | €293,340 | €271,964 | ▼ 7.3% |
| Trade receivables40 | €335,412 | €240,297 | €467,536 | €290,400 | €52,698 | ▼ 81.9% |
| Other amounts receivable41 | €879 | €23,567 | €66,353 | €2,940 | €219,266 | ▲ 7,359% |
| Cash at bank and in hand54/58 | €72,656 | €16,409 | €17,181 | €4,965 | €5,118 | ▲ 3.1% |
| Deferred charges and accrued income490/1 | €27,486 | €26,774 | €7,803 | €3,950 | €5,001 | ▲ 26.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €449,683 | €376,874 | €623,754 | €365,447 | €344,124 | ▼ 5.8% |
| Equity10/15 | €40,575 | €7,971 | €53,999 | €211,689 | €250,452 | ▲ 18.3% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €6,200 | €6,200 | €6,200 | €149,200 | €188,200 | ▲ 26.1% |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | - | - | - | €143,000 | €182,000 | ▲ 27.3% |
| Profit (loss) carried forward14 | -€27,625 | -€60,229 | -€14,201 | €489 | €252 | ▼ 48.5% |
| Provisions and deferred taxes16 | - | - | - | - | €19 | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €19 | - |
| Pensions and similar obligations160 | - | - | - | - | €19 | - |
| Amounts payable17/49 | €409,108 | €368,903 | €569,756 | €153,757 | €93,654 | ▼ 39.1% |
| Amounts payable within one year42/48 | €409,108 | €368,843 | €569,672 | €153,713 | €93,638 | ▼ 39.1% |
| Trade debts44 | €128,379 | €179,463 | €70,846 | €41,290 | €32,048 | ▼ 22.4% |
| Suppliers440/4 | €128,379 | €179,463 | €70,846 | €41,290 | €32,048 | ▼ 22.4% |
| Taxes, remuneration and social security45 | €223,816 | €173,186 | €140,083 | €74,995 | €61,590 | ▼ 17.9% |
| Taxes450/3 | €42,524 | €39,129 | €117,836 | €64,289 | €44,028 | ▼ 31.5% |
| Remuneration and social security454/9 | €181,292 | €134,058 | €22,247 | €10,705 | €17,562 | ▲ 64.1% |
| Other amounts payable47/48 | €56,914 | €16,194 | €358,743 | €37,429 | - | - |
| Accrued charges and deferred income492/3 | - | €60 | €84 | €44 | €16 | ▼ 62.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€58,292 | -€32,604 | €46,027 | €157,691 | €38,763 | ▼ 75.4% |
| + Depreciation and write-downs630 | €5,906 | €6,370 | €7,142 | €1,691 | €1,149 | ▼ 32.0% |
| Operating cash flow (approximation) | -€52,386 | -€26,234 | €53,169 | €159,381 | €39,912 | ▼ 75.0% |
| Investment in fixed assets (approximation) | - | -€62,946 | -€2,197 | €0 | €0 | - |
| Change in cash | - | -€56,247 | €771 | -€12,215 | €152 | ▲ 101% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2020net €157,691 ▲243%
Operating result €227,971, net result €157,691, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.97
Current ratio from 0.98 to 1.97; short-term debt falls from €569,672 to €153,713.
31-12
Financial
Equity above €200,000Eq €211,689 ▲292%
2 profitable years in a row build equity to €211,689.
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €46,027
Net result €46,027 after 2 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
04-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 4 days late
2021
31-12
Financial
Weakest financial yearnet -€58,292
Net result drops to -€58,292, the lowest in the series; recovery starts the following year.
05-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Kontich · 1 establishment unit since 2019
Ground area
1.1 ha
Building footprint
955 m²
Volume, LiDAR
10,600 m³
Parcel 11024B0130/00C002, Flanders · tallest building 15.4 m, ±4 floors. Linked by address, not a title deed.
25
companies at this address
See who is registered here
1 establishment unit
PulseHCS
since 20192.292.960.333
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11024B0130/00C002 | Flanders | 1.1 ha | 1 · 955 m² | 15.4 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Part of the group
Nuclys
450 companies
Group, risk and exposure
Owners and holdings
1 owner · 1 holdingChain of control
- Nuclys
- De Cronos Groep
- CrossPoint Solutions
- Kapture
- PulseHCS
Highest known parent: Nuclys. The sources do not say who stands above it.
Owners 1
- Kaptureparent90%
Holdings 1
-
100%
According to the 2025 annual accounts of PulseHCS and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 2,296 EUR awarded · 2,296 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 324 EUR | 324 EUR |
| 2023 | 1 | 1,972 EUR | 1,972 EUR |
Schemes
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 38,913 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded19-06-2019
Fiscal year end31-12
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0728657070
Also
9925:BE0728657070
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.