Hamaco

Active

Public limited companyfounded 20206 yrs activeIndustrieweg 124, 9032 Gent, BelgiumKBO/BCE: BE 0753.388.508

Hamaco has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €585k and a net result of €480k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 19% of 924 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).

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Checked score

Score 2025

61 / 100

Healthy

The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability64▼-3

Solvency34▼-2

Growth85=

Track record100

Bankruptcy probability, 12 months

0.5% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €35k at 30 days acceptable

Liquidity tight (current ratio 1.17 against 1.12 in 2024; short-term debt: 81.7% and cash: 28.9% of total assets), and 90.9% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Nine signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 82

Relative position

BE, all sectors

reference

Sector 82

lower

← fewer bankruptcies more bankruptcies →

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

9.1%

Return on assets

7.4%

Age of the figures

9 mo

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 924 sector peers (2025).

NBB · sector comparison

Position among 924 sector peers

Solvency

better than 19%

← weakest strongest →

Growing equity

Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.

NBB · annual accounts 2025

Equity per financial year

2122232425

2021 to 2025 · latest year €585k

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-05-2026, 65 days ahead of the deadline.

NBB · 5 filings

Deviation from the deadline

2025

65 d early

2024

41 d early

2023

23 d early

2022

5 d early

2021

11 d late

← before the deadline after the deadline →

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 months

Position in the running window

21-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, full schema

Turnover

€16.92M▲ 5.5%

2024 · €16.03M

2022: €3.14M 2023: €13.33M 2024: €16.03M

2022 → 2025

EBIT margin

3.8%▼ 0.3pp

2024 · 4.1%

2022: -11.6% 2023: 3.1% 2024: 4.1%

2022 → 2025

Net result

€480k▼ 0.9%

2024 · €485k

2021: €-10k 2022: €-365k 2023: €382k 2024: €485k

2021 → 2025

Working capital

€916k▲ 87.7%

2024 · €488k

2021: €570k 2022: €-815k 2023: €-367k 2024: €488k

2021 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Turnover€3.14M€13.33M▲ 325%€16.03M▲ 20.3%€16.92M▲ 5.5%

Equity€52k-€-313k€70k€554k▲ 694%€585k▲ 5.5%

Operating result€-10k-€-364k▼ 3,728%€414k€662k▲ 59.8%€648k▼ 2.2%

Net result€-10k-€-365k▼ 3,706%€382k€485k▲ 26.7%€480k▼ 0.9%

Result per fiscal year

Operating resultNet result

The operating result falls in 2025; 2025 is 2% below 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €6.37M

97.1%

Fixed assets €183k▼ 16.7%

Current assets €6.19M▲ 33.8%

Equity and liabilities €6.45M

90.9%

Equity €585k▲ 5.5%

Debt €5.87M▲ 32.7%

The debt ratio rises from 88.9% to 90.9%. Equity and debt are higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€732k▼

2024 · €747k

Cash flow

€565k▼

2024 · €569k

Solvency

9.1%▼

2024 · 11.1%

Current ratio

1.17▲

2024 · 1.12

Quick ratio

1.17▲

2024 · 1.12

Debt / equity

10.03▲

2024 · 7.97

ROE

82.1%▼

2024 · 87.4%

ROA

7.4%▼

2024 · 9.7%

Interest coverage

4113.64▲

2024 · 47.17

Debt

€5.87M▲

2024 · €4.42M

Debt ≤ 1 year

€5.27M▲

2024 · €4.14M

Income taxes

€167k▲

2024 · €162k

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€4.98M€6.45M▲

Formation expenses20€132k€84k▼

Fixed assets21/28€220k€183k▼

Intangible fixed assets21€180k€157k▼

Tangible fixed assets22/27€40k€26k▼

Plant, machinery and equipment23€40k€26k▼

Current assets29/58€4.62M€6.19M▲

Amounts receivable within one year40/41€4.19M€4.31M▲

Trade receivables40€4.19M€4.30M▲

Other amounts receivable41€1k€8k▲

Cash at bank and in hand54/58€422k€1.87M▲

Deferred charges and accrued income490/1€8k€9k▲

Equity and liabilities

Total equity and liabilities10/49€4.98M€6.45M▲

Equity10/15€554k€585k▲

Contributions10/11€62k€62k=

Capital10€62k€62k=

Issued capital100€62k€62k=

Reserves13€6k€6k=

Non-distributable reserves130/1€6k€6k=

Legal reserve130€6k€6k=

Profit (loss) carried forward14€487k€517k▲

Amounts payable17/49€4.42M€5.87M▲

Amounts payable within one year42/48€4.14M€5.27M▲

Trade debts44€4.03M€5.19M▲

Suppliers440/4€4.03M€5.19M▲

Taxes, remuneration and social security45€62k€72k▲

Taxes450/3€62k€72k▲

Other amounts payable47/48€45k€9k▼

Accrued charges and deferred income492/3€286k€599k▲

Income statement Code20242025

Operating income70/76A€16.04M€16.92M▲

Turnover70€16.03M€16.92M▲

Other operating income74€4k-

Operating charges60/66A€15.37M€16.27M▲

Goods for resale, raw materials and consumables60€15.23M€16.09M▲

Purchases600/8€15.23M€16.09M▲

Services and other goods61€54k€100k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€85k€85k=

Other operating charges640/8€197€144▼

Operating profit (loss)9901€662k€648k▼

Financial charges65/66B€16k€178▼

Recurring financial charges65€16k€178▼

Debt charges650€16k-

Other financial charges652/9€51€178▲

Profit (loss) for the period before taxes9903€646k€648k▲

Income taxes67/77€162k€167k▲

Taxes670/3€162k€167k▲

Profit (loss) for the period9904€485k€480k▼

Profit (loss) for the period to be appropriated9905€485k€480k▼

Appropriation of the result

Profit (loss) to be appropriated9906€493k€967k▲

Profit (loss) brought forward from the previous period14P€8k€487k▲

Transfer to equity691/2€6k-

To the legal reserve6920€6k-

Profit to be distributed694/7-€450k

Return on contributions (dividend)694-€450k

The notes to these accounts (22 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 9Financial 4Filings 5

Next filing, fiscal year 2026, expected by 31-07-2027

2026

27-05

NBB filing Annual accounts filed

fiscal year 2025 · full schema

2025

20-06

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

31-12

Financial Highest result since 2021net €485k ▲26.7%

Operating result €662k, net result €485k, both a record.

31-12

Financial Equity above €500kEq €554k ▲694%

2 profitable years in a row build equity to €554k.

08-07

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

31-12

Financial Back to profitnet €382k

Net result €382k after 2 loss-making years.

26-07

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

31-12

Financial Weakest financial yearnet €-365k

Net result drops to €-365k, the lowest in the series; recovery starts the following year.

11-08

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 11 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, no change since 2026

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

03-03-2026 Maarten Van Hoeck: Resigned as Director

22-07-2025 Van Wassenhove Johan: Resigned as Director

27-05-2025 Van Wassenhove Johan: Resigned as Director

27-05-2025 Natalie Dewulf: Resigned as Director

29-01-2023 Bruno Geltmeyer: Resigned as Director

30-06-2022 Stanislas de Pierpont: Resigned as Director

17-06-2022 Marc Van Isterdael: Resigned as Director

Location & real-estate footprint

Registered office, Gent · 1 establishment unit since 2020

establishment The establishment unit on the map

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.