HARD ELEC
ActiveSummary
The annual accounts of HARD ELEC for fiscal year 2024 show a net loss of 85% of the equity at the start of that year. The 2024 annual accounts show equity of €5k and a net result of €-25k. Equity is shrinking by ~19.3% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 10% of 36375 sector peers (fiscal year 2024). The company has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2024
36
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability1▼-73
Solvency28▼-12
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.75 against 1.14 in 2023; short-term debt: 54.4% and cash: 6.6% of total assets), and 97.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
2.6%
Return on assets
-14.2%
Age of the figures
21 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 36375 sector peers (2024).
NBB · sector comparisonPosition among 36375 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
69 d late
2022
70 d late
2021
77 d late
2020
23 d late
2019
10 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Turnover
€113k
EBIT margin
3.3%
Net result
€-25k
2023 · €8k
2018: €2k
2019: €380
2020: €-12k
2021: €-1k
2022: €-19k
2023: €8k
2018 → 2024
Working capital
€-25k
2023 · €12k
2018: €49k
2019: €51k
2020: €18k
2021: €8k
2022: €-14k
2023: €12k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€43k-€41k▼ 2.7%€22k▼ 45.9%€30k▲ 34.5%€5k▼ 84.5%
Operating result€-9k-€2k€-17k€12k€-25k
Net result€-12k-€-1k▲ 90.7%€-19k▼ 1,583%€8k€-25k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €25k after €12k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €179k
Fixed assets
€106k ▼ 0.9%
Current assets
€72k ▼ 24.6%
Equity and liabilities €179k
Equity
€5k ▼ 84.5%
Debt
€174k ▲ 0.5%
Debt's share of the balance-sheet total rises from 85.2% to 97.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-6k▼
2023 · €30k
Cash flow
€-6k▼
2023 · €26k
Current ratio
0.75▼
2023 · 1.14
Debt to equity
37.29▲
2023 · 5.74
ROE
-545.6%▼
2023 · 25.7%
ROA
-14.2%▼
2023 · 3.8%
Interest coverage
-10.59▼
2023 · 7.18
Debt ≤ 1 year
€97k▲
2023 · €84k
Debt > 1 year
€77k▼
2023 · €89k
Income taxes
€5▼
2023 · €227
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 · 2024 against 2023 · 42 lines
Balance sheet
Code20232024
Assets
Total assets20/58€203k€179k▼
Fixed assets21/28€107k€106k▼
Tangible fixed assets22/27€107k€106k▼
Land and buildings22€80k€73k▼
Plant, machinery and equipment23€4k€6k▲
Furniture and vehicles24€24k€27k▲
Current assets29/58€96k€72k▼
Amounts receivable within one year40/41€51k€47k▼
Trade receivables40€32k€32k▲
Other amounts receivable41€19k€15k▼
Cash at bank and in hand54/58€30k€12k▼
Deferred charges and accrued income490/1€15k€13k▼
Equity and liabilities
Total equity and liabilities10/49€203k€179k▼
Equity10/15€30k€5k▼
Contributions10/11€19k€19k=
Reserves13€9k€9k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€7k€7k=
Profit (loss) carried forward14€3k€-23k▼
Amounts payable17/49€173k€174k▲
Amounts payable after more than one year17€89k€77k▼
Financial debts170/4€89k€77k▼
Amounts payable within one year42/48€84k€97k▲
Current portion of amounts payable after more than one year42€14k€12k▼
Trade debts44€34k€31k▼
Suppliers440/4€34k€31k▼
Taxes, remuneration and social security45€76-
Taxes450/3€76-
Other amounts payable47/48€36k€54k▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€18k€19k▲
Other operating charges640/8€24k€2k▼
Gross operating margin9900€54k€-4k▼
Operating profit (loss)9901€12k€-25k▼
Financial charges65/66B€4k€538▼
Recurring financial charges65€4k€538▼
Profit (loss) for the period before taxes9903€8k€-25k▼
Income taxes67/77€227€5▼
Profit (loss) for the period9904€8k€-25k▼
Profit (loss) for the period to be appropriated9905€8k€-25k▼
Appropriation of the result
Profit (loss) to be appropriated9906€3k€-23k▼
Profit (loss) brought forward from the previous period14P€-5k€3k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-12
Financial
Weakest financial yearnet €-25k ▼429%
Net result drops to €-25k, the lowest in the series.
08-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 69 days late
2023
31-12
Financial
Back to profitnet €8k
Net result €8k after 3 loss-making years.
09-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 70 days late
2022
16-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 77 days late
2021
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 23 days late
2020
10-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 10 days late
2019
21-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 21 days late
2018
31-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 92 days late
2017
22-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
19-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 19 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Manhay · 1 establishment unit since 2001
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 du Vicinal 426960 ManhayGround area
1,562 m²
Building footprint
235 m²
2 parcels, Wallonia. Linked by address, not a title deed.
1 establishment unit
Samrée 61, 6982 La Roche-en-Ardenne
since 20012.094.378.864
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 83046A0649/00G002 | Wallonia | 1,058 m² | 1 · 235 m² | - |
| 83051A2027/00R000indicative | Wallonia | 504 m² | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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BE 1019.794.157
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Lemahieu Filip
BE 0895.932.481
Ieper · Eq €4,662
AMALEC BUSINESS
BE 0783.324.191
Jette · Eq €4,662
Marlair Elec
BE 0783.956.473
Rochefort · Eq €4,659
Pirrelec
BE 1021.798.691
Bertem · Eq €4,656
Of 22,821 companies in sector 43211 we hold annual accounts for 10,326. 3,525 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded15-03-2001
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
41001General construction of residential buildings
Sources
Crossroads Bank for EnterprisesNational Bank · 24 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.