HBNC · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of HBNC is 4.9% (elevated). The 2023 annual accounts show equity of €89k and a net result of €47k. Equity is growing by ~59.7% per year across the filed fiscal years. Its solvency ranks better than 73% of 9100 sector peers (fiscal year 2023). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 5 annual accounts.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

4.9% Elevated

0%0,5%1,5%4%10%≥25%

Young company +Higher-failure-rate sector +Higher-failure-rate region +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Signals

2 signals · with evidence

Consistently profitable

Positive net result in the two most recent financial years (2022 and 2023).

View the result trend

Growing equity

Equity grew over 2021-2023. Profits are largely retained rather than distributed.

View the equity trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Annual accounts not filed

The financial year that closed on 31-12-2024 was due at the National Bank by 31-07-2025. Nothing is on record today, 380 days later. 2 financial years are missing in total. Measured on financial year 2023: 41.75% of the companies that did not file are in an abnormal legal state today, against 1.66% of those that did.

Filed more than 90 days late

The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 04-06-2025, 308 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.

How we compute the deadline

The year end is derived from 5 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2023, that is 31-07-2024.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	nothing on record	not filed	-
31-12-2024	31-07-2025	nothing on record	not filed	-
31-12-2023	31-07-2024	04-06-2025	308 d late	2025-00119579
31-12-2022	31-07-2023	05-10-2023	66 d late	2023-00474417
31-12-2021	31-07-2022	12-10-2022	73 d late	2022-20457994
31-12-2020	31-07-2021	28-09-2021	59 d late	2021-70800183
31-12-2019	31-07-2020	28-10-2020	89 d late	2020-64000453

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

More than 3 years active

Founded in 2019, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€47k+533.9%

Working capital€44k

CSV export

Annual accounts & ratios

Source: NBB · 2023

Annual accounts filed on 04-06-2025 with the NBB · fiscal year 2023 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~59.7%/year over 5 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2023 · NACE 43, Specialised construction · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	58.0%	38.7%	better than 73% of 9100 sector peers
Net result	€47k	€12k	better than 86% of 9085 sector peers
Equity	€89k	€30k	better than 83% of 9106 sector peers
Gross operating margin	€83k	€33k	better than 77% of 9074 sector peers
Total assets	€153k	€89k	better than 70% of 9101 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P73

Stable position over 2020-2023 · n=1633-9100

Net result P86

Improving position over 2020-2023 · n=1626-9085

Equity P83

Improving position over 2020-2023 · n=1635-9106

Gross operating margin P77

Improving position over 2020-2023 · n=1624-9074

Describes the position versus peers, not a forecast.

EBITDA

€80k

+359.7% 19-23

Net profit

€47k

+533.9% 19-23

Cash flow

€61k

+341.4% 19-23

Total assets

€153k

+89.1% 19-23

Equity

€89k

+112.2% 19-23

Working capital

€44k

- 19-23

Income taxes

€19k

+452.6% 19-23

Debt

€64k

+64.5% 19-23

Debt ≤ 1y

€64k

+64.5% 19-23

Current ratio

1.68

+69.9% 19-23

Quick ratio

1.68

+69.9% 19-23

Solvency

58.0%

+12.2% 19-23

Debt / equity

0.72

-22.5% 19-23

ROE

52.9%

+198.8% 19-23

ROA

30.7%

+235.2% 19-23

Interest coverage

784.96

+434.8% 19-23

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2023
Deposit	micro
Revenue	-
EBITDA	€80k
Net profit	€47k
Cash flow	€61k
Staff costs	-
Income taxes	€19k
Dividends	-
Total assets	€153k
Equity	€89k
Debt	€64k
of which ≤ 1y	€64k
of which > 1y	-
Working capital	€44k
Employees (FTE)	-

Ratios (computed)

	2023
Current ratio	1.68
Quick ratio	1.68
Working capital ratio	28.5%
Solvency	58.0%
Debt / equity	0.72
Long-term debt ratio	-
Interest coverage	784.96
Gross margin	-
Net margin	-
ROA	30.7%
ROE	52.9%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2023

Assets

Fixed assets €45k · 29.5% Current assets €108k · 70.5%

Equity & liabilities

Equity €89k · 58.0% Debt €64k · 42.0%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2023
Balance sheet, Assets
TOTAL ASSETS	20/58	€153k
Fixed assets	21/28	€45k
Tangible fixed assets	22/27	€45k
Financial fixed assets	28	€250
Current assets	29/58	€108k
Amounts receivable within one year	40/41	€92k
Cash & bank	54/58	€15k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€153k
Equity	10/15	€89k
Contributions / capital	10/11	€19k
Accumulated profits (losses)	14	€70k
Amounts payable	17/49	€64k
Amounts payable within one year	42/48	€64k
Trade debts payable within one year	44	€33k
Income statement
Gross operating margin	9900	€83k
Operating result	9901	€66k
Financial income	75	€329
Financial charges	65	€102
Result before taxes	9903	€66k
Income taxes	67/77	€19k
Net result for the period	9904	€47k
Result to be appropriated	9905	€47k

You are seeing the latest fiscal year only. 4 prior years (figures + ratios) are in a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2023 · computed

100 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2023. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

on the map · from the address register

exact location from the address register On OpenStreetMap

Establishment units

1 location

HBNC

Edingensesteenweg 722, 1502 HalleHouwen, bewerken en afwerken van natuursteen voor gebruik in de bouw, op wegen, als dakbedekking, enz

since 20192.286.695.123

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels2

Ground area973 m²

Buildings2

Building footprint315 m²

Volume (LiDAR)1,586 m³

Tallest building11.4 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (50%) Brussels 1 (50%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
23043A0052/00T002	Flanders	773 m²	1 · 158 m²	9.4 m · 2 fl.
21903B0017/00H005	Brussels	200 m²	1 · 157 m²	11.4 m · 1 fl.

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgisch Staatsblad · acts

2 acts

Capital history · 1

13-05-2022

Capital change

All acts · 2 updated 2 years ago

2023

27-12-2023 Articles of association amended, translation of the articles, coordination of the articles and full restatement of the articles Statutes amendment·Dirk Van Den Haute

Summary: De vennootschap krijgt een uitgebreid voorwerp dat oorspronkelijk gericht was op metselwerk, bouwwerk en reiniging, en nu ook de verhuur van steigers, stellingen en installaties omvat.Notary: Dirk Van Den Haute · Lennik

Original publication ↗

2022

13-05-2022 Transaction in capital or shares Capital & shares

Original publication ↗

Analysis

Snowflake analysis

financial profile on 5 axes

94 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 100

Profitability 100

Solvency 91

Growth 78

Stability 100

Credit advice

verdict per customer and amount

Similar

Similar companies

Comparable size, same sector

DICA CONSTRUCTION

BE 0785.488.776 · Sint-Pieters-Leeuw

Eq €89k→

ARDEL CONSTRUCT

BE 0693.955.915 · Sint-Jans-Molenbeek

Eq €89k→

SBS BOUW

BE 0664.571.645 · Damme

Eq €88k→

Opritten en Terrassen Leys

BE 0766.533.392 · Heist-op-den-Berg

Eq €89k→

BUILDING DESIGN CONCEPT

BE 0646.722.160 · Brussel

Eq €88k→

We hold annual accounts for 2,010 of the 15,529 companies in this sector. 1,685 of them are within a factor 10 of this company's equity.

See full sector →

Company registry

Company registry (CBE)

Crossroads Bank

Activities

Overige werkzaamheden in verband met de afwerking van gebouwen43350Overige werkzaamheden in verband met de afwerking van gebouwen43390Overige gespecialiseerde bouwactiviteiten, neg43990Overige gespecialiseerde bouwwerkzaamheden43999

Primary activity highlighted.

Names & trade names

Legal nameNL

HBNC

Registered office

Lindestraat 282A

1030 Schaarbeek, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.