THB4
ActiveSummary
The computed 12-month bankruptcy probability of THB4 is 2.2% (moderate). The 2025 annual accounts show equity of €192k and a net result of €42k. Equity is growing by ~12% per year across the filed fiscal years. Its solvency ranks better than 51% of 3705 sector peers (fiscal year 2025). The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability56▲+4
Solvency56▲+9
Growth52=
Track record100
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity tight (current ratio 1.23 against 1.28 in 2024; short-term debt: 68.4% and cash: 5.7% of total assets), and 69% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
31%
Return on assets
6.8%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 9 filingsDeviation from the deadline
2025
24 d late
2024
14 d late
2023
16 d late
2022
2 d early
2021
30 d early
2020
30 d late
2019
24 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€42k
2024 · €-31k
2018: €44k
2019: €122k▲ +175% vs 2018highest in 8 years
2020: €27k▼ -77.5% vs 2019
2021: €-56k▼ -304% vs 2020lowest in 8 years
2022: €5k▲ +109% vs 2021
2023: €117k▲ +2185% vs 2022
2024: €-31k▼ -126% vs 2023
2025: €42k▲ +236% vs 2024
2018 → 2025
Working capital
€99k▼ 37.5%
2024 · €158k
2018: €-163klowest in 8 years
2019: €-52k▲ +68.4% vs 2018
2020: €22k▲ +142% vs 2019
2021: €67k▲ +207% vs 2020
2022: €36k▼ -45.2% vs 2021
2023: €217k▲ +496% vs 2022highest in 8 years
2024: €158k▼ -27.3% vs 2023
2025: €99k▼ -37.5% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€114k-€119k▲ 4.5%€222k▲ 87.2%€191k▼ 14.0%€192k▲ 0.8%
2021: €114klowest in 5 years
2022: €119k▲ +4.5% vs 2021
2023: €222k▲ +87.2% vs 2022highest in 5 years
2024: €191k▼ -14.0% vs 2023
2025: €192k▲ +0.8% vs 2024
Operating result€-40k-€29k€130k▲ 346%€17k▼ 86.8%€89k▲ 420%
2021: €-40klowest in 5 years
2022: €29k▲ +173% vs 2021
2023: €130k▲ +346% vs 2022highest in 5 years
2024: €17k▼ -86.8% vs 2023
2025: €89k▲ +420% vs 2024
Net result€-56k-€5k€117k▲ 2,185%€-31k€42k
2021: €-56klowest in 5 years
2022: €5k▲ +109% vs 2021
2023: €117k▲ +2185% vs 2022highest in 5 years
2024: €-31k▼ -126% vs 2023
2025: €42k▲ +236% vs 2024
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 420% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €620k
Fixed assets
€97k ▼ 33.3%
Current assets
€523k ▼ 28.4%
Equity and liabilities €620k
Equity
€192k ▲ 0.8%
Provisions
€3k =
Debt
€424k ▼ 37.8%
Debt's share of the balance-sheet total falls from 77.8% to 68.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€155k▲
2024 · €81k
Cash flow
€108k▲
2024 · €32k
Current ratio
1.23▼
2024 · 1.28
Quick ratio
1.21▼
2024 · 1.25
Debt to equity
2.20▼
2024 · 3.57
ROE
21.9%▲
2024 · -16.2%
ROA
6.8%▲
2024 · -3.5%
Interest coverage
3.41▼
2024 · 4.53
Debt ≤ 1 year
€424k▼
2024 · €572k
Debt > 1 year
€82▼
2024 · €108k
Income taxes
€2k▼
2024 · €30k
Staff costs
€515k▼
2024 · €648k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 57 lines
Balance sheet
Code20242025
Assets
Total assets20/58€876k€620k▼
Fixed assets21/28€146k€97k▼
Intangible fixed assets21€3k€750▼
Tangible fixed assets22/27€143k€94k▼
Plant, machinery and equipment23€774€3k▲
Furniture and vehicles24€20k€15k▼
Other tangible fixed assets26€122k€76k▼
Financial fixed assets28-€3k
Current assets29/58€730k€523k▼
Stocks and contracts in progress3€12k€11k▼
Stocks30/36€12k€11k▼
Amounts receivable within one year40/41€637k€474k▼
Trade receivables40€605k€443k▼
Other amounts receivable41€32k€31k▼
Cash at bank and in hand54/58€67k€35k▼
Deferred charges and accrued income490/1€14k€2k▼
Equity and liabilities
Total equity and liabilities10/49€876k€620k▼
Equity10/15€191k€192k▲
Contributions10/11€30k€30k=
Reserves13€10k€10k=
Tax-exempt reserves132€7k€7k=
Distributable reserves133€3k€3k=
Profit (loss) carried forward14€151k€153k▲
Provisions and deferred taxes16€3k€3k=
Deferred taxes168€3k€3k=
Amounts payable17/49€682k€424k▼
Amounts payable after more than one year17€108k€82▼
Financial debts170/4€108k€82▼
Amounts payable within one year42/48€572k€424k▼
Current portion of amounts payable after more than one year42€70k€24k▼
Trade debts44€408k€291k▼
Suppliers440/4€408k€291k▼
Taxes, remuneration and social security45€95k€68k▼
Taxes450/3€23k€20k▼
Remuneration and social security454/9€71k€49k▼
Other amounts payable47/48€0€41k▲
Accrued charges and deferred income492/3€1k-
Income statement
Code20242025
Remuneration, social security and pensions62€648k€515k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€64k€66k▲
Other operating charges640/8€3k€3k▼
Non-recurring operating charges66A-€26k
Gross operating margin9900€732k€698k▼
Operating profit (loss)9901€17k€89k▲
Financial income75/76B€7€17▲
Recurring financial income75€7€17▲
Financial charges65/66B€18k€45k▲
Recurring financial charges65€18k€45k▲
Profit (loss) for the period before taxes9903€-663€44k▲
Income taxes67/77€30k€2k▼
Profit (loss) for the period9904€-31k€42k▲
Profit (loss) for the period to be appropriated9905€-31k€42k▲
Appropriation of the result
Profit (loss) to be appropriated9906€151k€194k▲
Profit (loss) brought forward from the previous period14P€182k€151k▼
Profit to be distributed694/7-€41k
Return on contributions (dividend)694-€35k
Employees696-€6k
Social balance
Average headcount (FTE)908721.312.5▼
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €401k | €625k | €598k | €648k | €515k | ▼ 20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €63k | €61k | €62k | €64k | €66k | ▲ 3.2% |
| Other operating charges640/8 | €1k | €4k | €5k | €3k | €3k | ▼ 24.5% |
| Non-recurring operating charges66A | - | €399 | - | - | €26k | - |
| Gross operating margin9900 | €425k | €720k | €796k | €732k | €698k | ▼ 4.6% |
| Operating profit (loss)9901 | €-40k | €29k | €130k | €17k | €89k | ▲ 420% |
| Financial income75/76B | €679 | €11 | €8 | €7 | €17 | ▲ 140% |
| Recurring financial income75 | €679 | €11 | €8 | €7 | €17 | ▲ 140% |
| Financial charges65/66B | €18k | €24k | €9k | €18k | €45k | ▲ 155% |
| Recurring financial charges65 | €18k | €24k | €9k | €18k | €45k | ▲ 155% |
| Profit (loss) for the period before taxes9903 | €-57k | €5k | €121k | €-663 | €44k | ▲ 6,721% |
| Income taxes67/77 | €-1k | €114 | €4k | €30k | €2k | ▼ 94.6% |
| Profit (loss) for the period9904 | €-56k | €5k | €117k | €-31k | €42k | ▲ 236% |
| Transfer from tax-exempt reserves789 | - | - | €37k | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €-56k | €5k | €154k | €-31k | €42k | ▲ 236% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €833k | €803k | €818k | €876k | €620k | ▼ 29.2% |
| Fixed assets21/28 | €290k | €239k | €188k | €146k | €97k | ▼ 33.3% |
| Intangible fixed assets21 | €9k | €7k | €5k | €3k | €750 | ▼ 72.7% |
| Tangible fixed assets22/27 | €281k | €232k | €183k | €143k | €94k | ▼ 34.5% |
| Plant, machinery and equipment23 | €8k | €11k | €15k | €774 | €3k | ▲ 276% |
| Furniture and vehicles24 | - | - | - | €20k | €15k | ▼ 25.6% |
| Other tangible fixed assets26 | €273k | €221k | €168k | €122k | €76k | ▼ 37.9% |
| Financial fixed assets28 | €330 | - | - | - | €3k | - |
| Current assets29/58 | €543k | €564k | €630k | €730k | €523k | ▼ 28.4% |
| Stocks and contracts in progress3 | €16k | €11k | €11k | €12k | €11k | ▼ 12.8% |
| Stocks30/36 | €16k | €11k | €11k | €12k | €11k | ▼ 12.8% |
| Amounts receivable within one year40/41 | €437k | €479k | €529k | €637k | €474k | ▼ 25.5% |
| Trade receivables40 | €392k | €434k | €498k | €605k | €443k | ▼ 26.8% |
| Other amounts receivable41 | €45k | €45k | €31k | €32k | €31k | ▼ 0.9% |
| Cash at bank and in hand54/58 | €69k | €50k | €70k | €67k | €35k | ▼ 47.4% |
| Deferred charges and accrued income490/1 | €20k | €25k | €20k | €14k | €2k | ▼ 84.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €833k | €803k | €818k | €876k | €620k | ▼ 29.2% |
| Equity10/15 | €114k | €119k | €222k | €191k | €192k | ▲ 0.8% |
| Contributions10/11 | €30k | €30k | €30k | €30k | €30k | = |
| Capital10 | €30k | €30k | - | - | - | - |
| Issued capital100 | €30k | €30k | - | - | - | - |
| Reserves13 | €47k | €47k | €10k | €10k | €10k | = |
| Non-distributable reserves130/1 | €3k | €3k | €3k | - | - | - |
| Legal reserve130 | €3k | €3k | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €3k | - | - | - |
| Tax-exempt reserves132 | €44k | €44k | €7k | €7k | €7k | = |
| Distributable reserves133 | - | - | - | €3k | €3k | = |
| Profit (loss) carried forward14 | €36k | €42k | €182k | €151k | €153k | ▲ 1.0% |
| Provisions and deferred taxes16 | €3k | €3k | €3k | €3k | €3k | = |
| Deferred taxes168 | €3k | €3k | €3k | €3k | €3k | = |
| Amounts payable17/49 | €716k | €680k | €593k | €682k | €424k | ▼ 37.8% |
| Amounts payable after more than one year17 | €208k | €143k | €168k | €108k | €82 | ▼ 99.9% |
| Financial debts170/4 | €208k | €143k | €168k | €108k | €82 | ▼ 99.9% |
| Amounts payable within one year42/48 | €476k | €527k | €413k | €572k | €424k | ▼ 25.9% |
| Current portion of amounts payable after more than one year42 | €104k | €112k | €75k | €70k | €24k | ▼ 66.2% |
| Trade debts44 | €228k | €289k | €268k | €408k | €291k | ▼ 28.6% |
| Suppliers440/4 | €228k | €289k | €268k | €408k | €291k | ▼ 28.6% |
| Taxes, remuneration and social security45 | €89k | €55k | €56k | €95k | €68k | ▼ 27.8% |
| Taxes450/3 | €36k | €19k | €26k | €23k | €20k | ▼ 14.8% |
| Remuneration and social security454/9 | €53k | €35k | €31k | €71k | €49k | ▼ 32.0% |
| Other amounts payable47/48 | €56k | €71k | €14k | €0 | €41k | - |
| Accrued charges and deferred income492/3 | €31k | €10k | €12k | €1k | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-56k | €5k | €117k | €-31k | €42k | ▲ 236% |
| + Depreciation and write-downs630 | €63k | €61k | €62k | €64k | €66k | ▲ 3.2% |
| Operating cash flow (approximation) | €7k | €66k | €180k | €32k | €108k | ▲ 232% |
| Investment in fixed assets (approximation) | - | €-10k | €-12k | €-21k | €-17k | ▲ 20.0% |
| Change in cash | - | €-19k | €20k | €-3k | €-32k | ▼ 997% |
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
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 24 days late
2025
31-12
Financial
Back to profitnet €42k
Net result €42k after one loss-making year.
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 14 days late
2024
16-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 16 days late
2023
31-12
Financial
Equity above €200kEq €222k ▲87.2%
2 profitable years in a row build equity to €222k.
29-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Back to profitnet €5k
Net result €5k after one loss-making year.
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Weakest financial yearnet €-56k
Net result drops to €-56k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 30 days late
2020
31-12
Financial
Equity above €150kEq €169k ▲16.1%
3 profitable years in a row build equity to €169k.
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2019
31-12
Financial
Highest result since 2018net €122k ▲175%
Operating result €184k, net result €122k, both a record.
31-12
Financial
Equity above €100kEq €146k ▲237%
2 profitable years in a row build equity to €146k.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 28 days late
2018
30-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Awans · 2 establishment units since 2016
Ground area
7.4 ha
Building footprint
4.3 ha
Volume, LiDAR
441,560 m³
3 parcels, Wallonia · tallest building 22.7 m, ±3 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
2 establishment units
The Huggy's Bar
since 20162.250.916.375
SMAK - Belle-Île
since 20262.389.941.824
3 parcels
Wallonia
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62806C0923/00B002 | Wallonia | 6.3 ha | 1 · 3.8 ha | 22.7 m · 3 fl. |
| 62053A0195/02A000 | Wallonia | 9,846 m² | 1 · 4,948 m² | 10.2 m · 2 fl. |
| 62063A0898/00P003 | Wallonia | 457 m² | 1 · 329 m² | - |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
2 sites · 1 with a smileyLiège2.250.916.375
Liège2.389.941.824
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Of 21,853 companies in sector 56112 we hold annual accounts for 9,776. 6,779 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded05-02-2016
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
56112Limited-service restaurants, excluding mobile food services
Contact
Website
roberto@huggysbar.com
Scores and ratios are computed by Checked and are not a credit decision.