HSF
ActiveHSF has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €124k and a net result of €13k. Equity is growing by ~6.6% per year across the filed fiscal years. Its solvency ranks better than 69% of 12665 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
91
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability79▲+5
Solvency98▲+2
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days acceptable
Liquidity ample (current ratio 4.98 against 5.51 in 2024; short-term debt: 16.9% and cash: 31.9% of total assets), and 26.5% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Sector 69
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
73.5%
Return on assets
8%
Age of the figures
12 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 · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 26-03-2026, 35 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
35 d early
2024
27 d early
2023
22 d early
2022
37 d early
2021
30 d early
2020
30 d early
2019
43 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
18-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€124k▲ 10.5%
2024 · €112k
2018: €67k
2019: €83k
2020: €105k
2021: €130k
2022: €130k
2023: €108k
2024: €112k
2018 → 2025
Total assets
€169k▲ 6.3%
2024 · €159k
2018: €84k
2019: €100k
2020: €123k
2021: €149k
2022: €140k
2023: €158k
2024: €159k
2018 → 2025
Net result
€13k▲ 106%
2024 · €7k
2018: €10k
2019: €16k
2020: €22k
2021: €25k
2022: €2k
2023: €14k
2024: €7k
2018 → 2025
Working capital
€114k▲ 13.0%
2024 · €101k
2018: €59k
2019: €78k
2020: €100k
2021: €127k
2022: €130k
2023: €97k
2024: €101k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€130k-€130k▲ 0.7%€108k▼ 17.6%€112k▲ 4.6%€124k▲ 10.5%
Operating result€35k-€3k▼ 90.4%€20k▲ 495%€11k▼ 44.1%€19k▲ 75.1%
Net result€25k-€2k▼ 91.7%€14k▲ 574%€7k▼ 53.2%€13k▲ 106%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 75% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €169k
Fixed assets
€27k▼ 25.7%
Current assets
€142k▲ 15.7%
Equity and liabilities €169k
Equity
€124k▲ 10.5%
Debt
€45k▼ 3.8%
The debt ratio falls from 29.3% to 26.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€29k▲
2024 · €20k
Cash flow
€23k▲
2024 · €16k
Solvency
73.5%▲
2024 · 70.7%
Current ratio
4.98▼
2024 · 5.51
Quick ratio
4.98▼
2024 · 5.51
Debt / equity
0.36▼
2024 · 0.41
ROE
10.8%▲
2024 · 5.8%
ROA
8.0%▲
2024 · 4.1%
Interest coverage
22.49▲
2024 · 13.68
Debt
€45k▼
2024 · €47k
Debt ≤ 1 year
€29k▲
2024 · €22k
Debt > 1 year
€16k▼
2024 · €24k
Income taxes
€6k▲
2024 · €3k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€159k€169k▲
Fixed assets21/28€36k€27k▼
Tangible fixed assets22/27€36k€27k▼
Furniture and vehicles24€36k€27k▼
Financial fixed assets28€5€5=
Current assets29/58€123k€142k▲
Amounts receivable within one year40/41€23k€25k▲
Trade receivables40€20k€24k▲
Other amounts receivable41€3k€739▼
Current investments50/53€55k€61k▲
Cash at bank and in hand54/58€43k€54k▲
Deferred charges and accrued income490/1€2k€2k▲
Equity and liabilities
Total equity and liabilities10/49€159k€169k▲
Equity10/15€112k€124k▲
Contributions10/11€7k€7k=
Reserves13€106k€118k▲
Distributable reserves133€106k€118k▲
Amounts payable17/49€47k€45k▼
Amounts payable after more than one year17€24k€16k▼
Financial debts170/4€24k€16k▼
Amounts payable within one year42/48€22k€29k▲
Current portion of amounts payable after more than one year42€8k€8k▲
Trade debts44€3k€3k▲
Suppliers440/4€3k€3k▲
Taxes, remuneration and social security45€4k€7k▲
Taxes450/3€4k€7k▲
Other amounts payable47/48€8k€10k▲
Accrued charges and deferred income492/3€66€67▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€9k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€926€2k▲
Other operating charges640/8€760€789▲
Gross operating margin9900€22k€31k▲
Operating profit (loss)9901€11k€19k▲
Financial income75/76B€271€1k▲
Recurring financial income75€271€1k▲
Financial charges65/66B€1k€1k▼
Recurring financial charges65€1k€1k▼
Profit (loss) for the period before taxes9903€10k€19k▲
Income taxes67/77€3k€6k▲
Profit (loss) for the period9904€7k€13k▲
Profit (loss) for the period to be appropriated9905€7k€13k▲
Appropriation of the result
Profit (loss) to be appropriated9906€7k€13k▲
Transfer from equity791/2€2k€1k▼
Transfer to equity691/2€7k€13k▲
To other reserves6921€7k€13k▲
Profit to be distributed694/7€2k€2k=
Return on contributions (dividend)694€2k€2k=
The notes to these accounts (8 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
26-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
03-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
08-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
24-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Weakest financial yearnet €2k ▼91.7%
Net result drops to €2k, the lowest in the series; recovery starts the following year.
31-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Highest result since 2018net €25k ▲15.3%
Operating result €35k, net result €25k, both a record.
31-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Equity above €100kEq €105k ▲26.1%
3 profitable years in a row build equity to €105k.
18-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
27-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
19-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
22-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
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, Lokeren · 1 establishment unit since 2010
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.
Windhaarstraat 99160 LokerenGround area
483 m²
Building footprint
89 m²
Volume, LiDAR
504 m³
Parcel 46382B0729/00D007, Flanders · tallest building 7.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
HSF BV BVBA
since 20102.191.020.261
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46382B0729/00D007 | Flanders | 483 m² | 1 · 89 m² | 7.7 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 1,264 EUR awarded · 1,642 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 449 EUR | 449 EUR |
| 2024 | 1 | 389 EUR | 389 EUR |
| 2023 | 1 | 0 EUR | 378 EUR |
| 2022 | 1 | 426 EUR | 426 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 12,173 companies in sector 69201 we hold annual accounts for 7,639. 6,530 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded20-08-2010
Fiscal year end30-09
Activities, NACEBEL
69201Certified accountants and tax accountants
69202Legal and accounting activities
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.