HKN 11
ActiveSummary
HKN 11 has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €152k and a net result of €32k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 30% of 14079 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
51
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability56▲+40
Solvency33▲+3
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days acceptable
Liquidity short (current ratio 0.4 against 0.46 in 2024; short-term debt: 63.9% and cash: 0.1% of total assets), and 91.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five 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 68
Relative position
BE, all sectors
reference
Sector 68
lower
← 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
8.2%
Return on assets
1.7%
Age of the figures
9 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
6 d early
2023
13 d early
2022
44 d late
2021
18 d late
2020
31 d early
2019
68 d late
← 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€152k▲ 26.3%
2024 · €120k
2018: €15k
2019: €32k
2020: €-102
2021: €104k
2022: €226k
2023: €251k
2024: €120k
2018 → 2025
Total assets
€1.86M▼ 19.9%
2024 · €2.33M
2018: €413k
2019: €657k
2020: €1.42M
2021: €1.73M
2022: €2.27M
2023: €2.73M
2024: €2.33M
2018 → 2025
Net result
€32k
2024 · €-130k
2018: €-4k
2019: €57k
2020: €-32k
2021: €104k
2022: €122k
2023: €25k
2024: €-130k
2018 → 2025
Working capital
€-714k▲ 33.0%
2024 · €-1.06M
2018: €-131k
2019: €251k
2020: €920k
2021: €17k
2022: €-213k
2023: €-597k
2024: €-1.06M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€104k-€226k▲ 117%€251k▲ 11.1%€120k▼ 51.9%€152k▲ 26.3%
Operating result€148k-€187k▲ 26.4%€98k▼ 47.7%€-35k€152k
Net result€104k-€122k▲ 17.1%€25k▼ 79.4%€-130k€32k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €152k after a loss of €35k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.86M
Fixed assets
€1.39M ▼ 1.8%
Current assets
€477k ▼ 47.9%
Equity and liabilities €1.86M
Equity
€152k ▲ 26.3%
Debt
€1.71M ▼ 22.4%
Debt's share of the balance-sheet total falls from 94.8% to 91.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€239k▲
2024 · €53k
Cash flow
€118k▲
2024 · €-43k
Current ratio
0.40▼
2024 · 0.46
Quick ratio
0.17▲
2024 · 0.02
Debt to equity
11.26▼
2024 · 18.33
ROE
20.8%▲
2024 · -108.0%
ROA
1.7%▲
2024 · -5.6%
Interest coverage
4.21▲
2024 · 0.55
Debt ≤ 1 year
€1.19M▼
2024 · €1.98M
Debt > 1 year
€522k▲
2024 · €228k
Income taxes
€64k▲
2024 · €135
Staff costs
€36k▲
2024 · €35k
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 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.33M€1.86M▼
Fixed assets21/28€1.41M€1.39M▼
Tangible fixed assets22/27€1.41M€1.39M▼
Land and buildings22€1.37M€1.36M▼
Furniture and vehicles24€43k€31k▼
Current assets29/58€916k€477k▼
Stocks and contracts in progress3€877k€274k▼
Stocks30/36€877k€274k▼
Amounts receivable within one year40/41€15k€201k▲
Trade receivables40€15k€201k▲
Other amounts receivable41€355€355=
Cash at bank and in hand54/58€24k€1k▼
Deferred charges and accrued income490/1-€1k
Equity and liabilities
Total equity and liabilities10/49€2.33M€1.86M▼
Equity10/15€120k€152k▲
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€100k€132k▲
Amounts payable17/49€2.21M€1.71M▼
Amounts payable after more than one year17€228k€522k▲
Financial debts170/4€228k€522k▲
Amounts payable within one year42/48€1.98M€1.19M▼
Current portion of amounts payable after more than one year42€12k€566k▲
Financial debts43€1.34M€2k▼
Credit institutions430/8€1.34M€2k▼
Trade debts44€13k€2k▼
Suppliers440/4€13k€2k▼
Taxes, remuneration and social security45€9k€18k▲
Taxes450/3€2k€2k▲
Remuneration and social security454/9€6k€16k▲
Other amounts payable47/48€603k€603k=
Income statement
Code20242025
Remuneration, social security and pensions62€35k€36k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€88k€87k▼
Other operating charges640/8€23k€65k▲
Gross operating margin9900€110k€340k▲
Operating profit (loss)9901€-35k€152k▲
Financial charges65/66B€95k€57k▼
Recurring financial charges65€95k€57k▼
Profit (loss) for the period before taxes9903€-130k€96k▲
Income taxes67/77€135€64k▲
Profit (loss) for the period9904€-130k€32k▲
Profit (loss) for the period to be appropriated9905€-130k€32k▲
Appropriation of the result
Profit (loss) to be appropriated9906€100k€132k▲
Profit (loss) brought forward from the previous period14P€230k€100k▼
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Back to profitnet €32k
Net result €32k after one loss-making year.
31-12
Financial
Equity above €150kEq €152k ▲26.3%
Equity rises from €120k to €152k.
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-130k ▼619%
Net result drops to €-130k, the lowest in the series; recovery starts the following year.
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
13-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 44 days late
2022
31-12
Financial
Highest result since 2018net €122k ▲17.1%
Operating result €187k, net result €122k, both a record.
31-12
Financial
Equity above €200kEq €226k ▲117%
2 profitable years in a row build equity to €226k.
18-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 18 days late
2021
31-12
Financial
Back to profitnet €104k
Net result €104k after one loss-making year.
31-12
Financial
Equity above €100kEq €104k
Equity rises from €-102 to €104k.
Show earlier events
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
07-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 68 days late
2019
31-12
Financial
Back to profitnet €57k
Net result €57k after one loss-making year.
31-12
Financial
Liquidity times 113current ratio 3.27
Current ratio from 0.03 to 3.27; short-term debt falls from €135k to €111k.
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
09-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
19-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
8 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, Elsene · 1 establishment unit since 2016
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.
Louizalaan 651050 ElseneGround area
1,813 m²
Building footprint
2,533 m²
Volume, LiDAR
62,286 m³
2 parcels, Brussels, Flanders · tallest building 35.6 m, ±9 floors. Linked by address, not a title deed.
1 establishment unit
HKN11
since 20162.252.281.305
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0007/00R000 | Brussels | 1,683 m² | 1 · 2,433 m² | 35.6 m · 9 fl. |
| 23643G0455/00D003 | Flanders | 130 m² | 1 · 100 m² | 11.4 m · 3 fl. |
Linked by address, not proof of ownership
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.
Similar companies · same sector, comparable size
Metropol Estates
BE 0768.664.424
Antwerpen · Eq €152,107
DATABUILD EUROPE
BE 0882.252.018
Kapellen · Eq €152,052
IMMO-TRADING & CO
BE 0845.743.889
Namur · Eq €152,197
ENTREPRISE SENTERRE
BE 0451.324.073
Braine-l'Alleud · Eq €151,978
Capitan
BE 0734.935.643
Aarschot · Eq €152,279
Of 9,694 companies in sector 68121 we hold annual accounts for 7,383. 5,339 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
Founded25-03-2015
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68110Buying and selling of own real estate
68122Development of non-residential building projects
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.