HDCS · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of HDCS is 3.8% (moderate). The 2025 annual accounts show equity of €25k and a net result of €1k. Equity is growing by ~8% per year across the filed fiscal years. The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 3 annual accounts.

Signals

2 signals · with evidence

Consistently profitable

Positive net result in the two most recent financial years (2024 and 2025).

View the result trend

Growing equity

Equity grew over 2023-2025. 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

Latest accounts filed on time

The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 31-01-2026, 0 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.

The next deadline is still running

The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.

How we compute the deadline

The year end is derived from 3 filed financial years, each closing on 30-06. 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 30-06-2025, that is 31-01-2026.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
30-06-2025	31-01-2026	31-01-2026	on the day	2026-00024583
30-06-2024	31-01-2025	29-01-2025	2 d early	2025-00015149
30-06-2023	31-01-2024	30-01-2024	1 d early	2024-00015431

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 2022, 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.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

3.8% Moderate

0%0,5%1,5%4%10%≥25%

Young company +No NACE activity registered +Multiple establishment units +

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

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€1k-45.6%

Working capital€7k-27.9%

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 31-01-2026 with the NBB · fiscal year 2025 · 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 ~8%/year over 3 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).

EBITDA

€7k

+0.2% 23-25

Net profit

€1k

-45.6% 23-25

Cash flow

€6k

-3.1% 23-25

Total assets

€108k

+4.4% 23-25

Equity

€25k

+5.6% 23-25

Working capital

€7k

-27.9% 23-25

Employees (FTE)

9

+154.1% 23-25

Staff costs

€256k

+146.6% 23-25

Debt

€83k

+4.0% 23-25

Debt ≤ 1y

€80k

+7.0% 23-25

Debt > 1y

€3k

-40.0% 23-25

Current ratio

1.09

-3.8% 23-25

Quick ratio

0.82

+3.0% 23-25

Solvency

22.8%

+1.2% 23-25

Debt / equity

3.38

-1.5% 23-25

ROE

5.3%

-48.5% 23-25

ROA

1.2%

-47.9% 23-25

Interest coverage

13.07

+57.7% 23-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	micro
Revenue	-
EBITDA	€7k
Net profit	€1k
Cash flow	€6k
Staff costs	€256k
Income taxes	-
Dividends	-
Total assets	€108k
Equity	€25k
Debt	€83k
of which ≤ 1y	€80k
of which > 1y	€3k
Working capital	€7k
Employees (FTE)	9.4

Ratios (computed)

	2025
Current ratio	1.09
Quick ratio	0.82
Working capital ratio	6.7%
Solvency	22.8%
Debt / equity	3.38
Long-term debt ratio	0.12
Interest coverage	13.07
Gross margin	-
Net margin	-
ROA	1.2%
ROE	5.3%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €20k · 18.5% Current assets €87k · 81.5%

Equity & liabilities

Equity €25k · 22.8% Debt €83k · 77.2%

Full annual accounts

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

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€108k
Fixed assets	21/28	€20k
Formation expenses	20	€564
Tangible fixed assets	22/27	€16k
Financial fixed assets	28	€4k
Current assets	29/58	€87k
Stocks & contracts in progress	3	€22k
Amounts receivable within one year	40/41	€63k
Cash & bank	54/58	€2k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€108k
Equity	10/15	€25k
Contributions / capital	10/11	€18k
Accumulated profits (losses)	14	€7k
Amounts payable	17/49	€83k
Amounts payable after one year	17	€3k
Amounts payable within one year	42/48	€80k
Trade debts payable within one year	44	€19k
Income statement
Gross operating margin	9900	€271k
Operating result	9901	€2k
Financial income	75	€38
Financial charges	65	€504
Result before taxes	9903	€1k
Net result for the period	9904	€1k
Result to be appropriated	9905	€1k

You're seeing the latest fiscal year only. Unlock 2 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

56 / 100 Fair

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.

Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.

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Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Directors

Directors & mandates

1 director

Current directors & mandates

Joyce Bouckaert
Director
State Gazette act 25008894 (21-01-2025)

Current
10-01-2025 → present

Permanent representatives (1)

These people represent a legal-person director (a management company, for instance). They hold no board mandate of their own and do not count as directors.

De Besloten Vennootschap Kimberly NeirinckLegal entity
Permanent representative· perm. rep.: Kimberly Neirinck
State Gazette act 25008894 (21-01-2025)

Permanent representative
10-01-2025 → present

Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.

Insolvency mandates

No insolvency mandates (liquidators, administrators) on record for this company.

Legal Structure

NACE primary	-
Legal form	Private limited company(610)
Incorporation	24-06-2022
Status	Active
Postal code	8520

Structure & network

Locations & real estate

Establishment units

2 locations

't ertediefje

Kortrijksestraat 21, 8530 HarelbekeKinderdagverblijven en crèches

since 20222.339.691.963

't Ertje

Hulstsestraat -, 8520 KuurneKinderdagverblijven en crèches

since 20242.369.649.424

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

Parcels3

Ground area2,982 m²

Buildings3

Building footprint516 m²

Volume (LiDAR)2,949 m³

Tallest building12.2 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 3 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
34023B0487/00H000	Flanders	2,156 m²	1 · 250 m²	9.3 m · 2 fl.
34023B0542/00A002indicative	Flanders	420 m²	1 · 134 m²	8.9 m · 2 fl.
34013A0783/00D000	Flanders	406 m²	1 · 131 m²	12.2 m · 2 fl.

Methodology

via registered seat: 1 · via establishment units: 2

2 of 3 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

1 acts

All acts · 1 updated 1 year ago

2025

21-01-2025 2 directors appointed Director changes

Joyce Bouckaert, Bestuurder
Kimberly Neirinck, Vaste vertegenwoordiger

Original publication ↗

Analysis

Snowflake analysis

financial profile on 5 axes

53 / 100

Mixed profile: strong on stability, weaker on profitability.

All 5 axes are computed from data Checked has read.

Health 56

Profitability 27

Solvency 34

Growth 52

Stability 94

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Credit advice

verdict per customer and amount

Company registry

Company registry (CBE)

Crossroads Bank

Names & trade names

Legal nameNL

HDCS

Registered office

Hulstsestraat 223

8520 Kuurne, Belgium

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