Summary
Hubstef is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €142.97M and a net result of €13.41M. Equity is growing by ~5% per year across the filed fiscal years. Its solvency ranks better than 79% of 5527 sector peers (fiscal year 2025). The company has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit advice for your own amount and term
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
142 d early
2023
5 d early
2022
2 d early
2021
93 d early
2020
32 d early
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (2)
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
24-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€142.97M▲ 5.5%
2024 · €135.56M
2018: €103.94M
2019: €106.44M
2020: €108.32M
2021: €113.18M
2022: €122.02M
2023: €129.51M
2024: €135.56M
2018 → 2025
Net result
€13.41M▲ 8.3%
2024 · €12.39M
2018: €82.82M
2019: €3.25M
2020: €7.28M
2021: €9.31M
2022: €13.82M
2023: €12.00M
2024: €12.39M
2018 → 2025
Total assets
€169.46M▼ 0.7%
2024 · €170.63M
2018: €154.43M
2019: €156.72M
2020: €156.72M
2021: €155.10M
2022: €163.39M
2023: €168.72M
2024: €170.63M
2018 → 2025
Solvency
84.4%▲ 4.9pp
2024 · 79.4%
2018: 67.3%
2019: 67.9%
2020: 69.1%
2021: 73.0%
2022: 74.7%
2023: 76.8%
2024: 79.4%
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€113.18M-€122.02M▲ 7.8%€129.51M▲ 6.1%€135.56M▲ 4.7%€142.97M▲ 5.5%
Operating result€78k-€18k▼ 77.3%€11k▼ 37.4%€22k▲ 97.4%€24k▲ 11.2%
Net result€9.31M-€13.82M▲ 48.5%€12.00M▼ 13.2%€12.39M▲ 3.3%€13.41M▲ 8.3%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 11% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €169.46M
Fixed assets
€167.33M ▲ 8.1%
Current assets
€2.13M ▼ 86.6%
Equity and liabilities €169.46M
Equity
€142.97M ▲ 5.5%
Debt
€26.49M ▼ 24.5%
Debt's share of the balance-sheet total falls from 20.6% to 15.6%. Equity is higher and debt is lower.
Key figures and ratios
ROE
9.4%▲
2024 · 9.1%
ROA
7.9%▲
2024 · 7.3%
Debt ≤ 1 year
€4.38M▼
2024 · €8.57M
Debt > 1 year
€22.00M▼
2024 · €26.38M
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 · 48 lines
Balance sheet
Code20242025
Assets
Total assets20/58€170.63M€169.46M▼
Fixed assets21/28€154.75M€167.33M▲
Financial fixed assets28€154.75M€167.33M▲
Current assets29/58€15.89M€2.13M▼
Amounts receivable after more than one year29€500k€500k=
Other amounts receivable291€500k€500k=
Amounts receivable within one year40/41€10.16M€1.39M▼
Trade receivables40€215k€323k▲
Other amounts receivable41€9.94M€1.07M▼
Current investments50/53€3.57M€0▼
Cash at bank and in hand54/58€1.64M€241k▼
Deferred charges and accrued income490/1€29k€0▼
Equity and liabilities
Total equity and liabilities10/49€170.63M€169.46M▼
Equity10/15€135.56M€142.97M▲
Contributions10/11€2.97M€2.97M=
Capital10€2.97M€2.97M=
Issued capital100€2.97M€2.97M=
Reserves13€132.58M€140.00M▲
Non-distributable reserves130/1€297k€297k=
Legal reserve130€297k€297k=
Distributable reserves133€132.29M€139.70M▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€35.07M€26.49M▼
Amounts payable after more than one year17€26.38M€22.00M▼
Financial debts170/4€26.38M€22.00M▼
Amounts payable within one year42/48€8.57M€4.38M▼
Current portion of amounts payable after more than one year42€4.38M€4.38M=
Trade debts44€72k€1k▼
Suppliers440/4€72k€1k▼
Other amounts payable47/48€4.12M€0▼
Accrued charges and deferred income492/3€126k€108k▼
Income statement
Code20242025
Other operating charges640/8€2k€1k▼
Gross operating margin9900€24k€26k▲
Operating profit (loss)9901€22k€24k▲
Financial income75/76B€12.94M€13.85M▲
Recurring financial income75€12.94M€13.85M▲
Financial charges65/66B€577k€465k▼
Recurring financial charges65€577k€465k▼
Profit (loss) for the period before taxes9903€12.39M€13.41M▲
Profit (loss) for the period9904€12.39M€13.41M▲
Profit (loss) for the period to be appropriated9905€12.39M€13.41M▲
Appropriation of the result
Profit (loss) to be appropriated9906€12.39M€13.41M▲
Transfer from equity791/2€6.34M€6.00M▼
Transfer to equity691/2€12.39M€13.41M▲
To other reserves6921€12.39M€13.41M▲
Profit to be distributed694/7€6.34M€6.00M▼
Return on contributions (dividend)694€6.34M€6.00M▼
Social balance
Average headcount (FTE)90870.00.0=
The notes to these accounts (10 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
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2024
09-12
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
25-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Liquidity quadruplescurrent ratio 1.42
Current ratio from 0.39 to 1.42.
27-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
29-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Weakest financial yearnet €3.25M ▼96.1%
Net result drops to €3.25M, the lowest in the series; recovery starts the following year.
30-09
Financial
Liquidity times 13current ratio 2.86
Current ratio from 0.22 to 2.86.
29-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
03-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
30-12
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
14 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, Sint-Martens-Latem · 1 establishment unit since 1984
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.
Nelemeersstraat 59830 Sint-Martens-LatemGround area
2,762 m²
Building footprint
362 m²
Volume, LiDAR
2,010 m³
Parcel 44064A0297/00E000, Flanders · tallest building 13.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Nelemeersstraat 5, 9830 Sint-Martens-Latem
since 19842.121.907.959
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44064A0297/00E000 | Flanders | 2,762 m² | 1 · 362 m² | 13.5 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.
Recognitions · licences · registrations
Legal Entity Identifier
894500CM26RTP70VIH32
Similar companies · same sector, comparable size
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BE 0463.522.913
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Hubo België
BE 0411.982.457
Wommelgem · Eq €143.46M
U2P
BE 0649.865.950
Tessenderlo-Ham · Eq €143.76M
M80 Capital
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Brussel · Eq €145.84M
Of 24,725 companies in sector 64210 we hold annual accounts for 19,762. 1,450 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 formPublic limited company
Founded28-08-1984
Fiscal year end30-09
Activities, NACEBEL 2025
64210Activities of holding companies
64999Other financial services
Sources
Crossroads Bank for EnterprisesNational Bank · 41 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.