Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Shrinking team NBB
FTE fell two years in a row, from 38.7 to 32.4.
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Board fully replaced NBB
No director from three years ago is still active according to annual account 2025.
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Busy address KBO
52 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
HLB SEFICO from Watermaal-Bosvoorde, company number BE0438341713, closed financial year 2025 with a result of € 317,140 after tax. For that financial year HLB SEFICO recorded a gross margin of € 2.9 million and equity of € 1.2 million. Compared with financial year 2024, the result moved from € 5,481 to € 317,140. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on November 18, 2025.
€ 1.2 million
▲ 35% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 317,140
▲ € 311,660 vs 2024
Profit after tax over the fiscal year.
€ 372,738
▼ 34% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 1.1 million.
People and assets in 2025
32.4
▼ 3.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 2.4 million
▼ 13% vs 2024
€ 73,100 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 8,610
▼ 76% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 158,436
▼ 18% vs 2024
Loans from banks and other lenders, long and short.
€ 779,426
▼ 25% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 587,995
▲ 26% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 2,509,173 | € 2,784,750 | € 2,955,057 | € 2,880,424 | ▼ 3% |
| Profit after taxes | € 9,993 | € 5,791 | € 5,481 | € 317,140 | ▲ € 311,660 |
| Equity | € 889,016 | € 894,807 | € 900,288 | € 1,217,428 | ▲ 35% |
| Total debts | € 1,614,895 | € 1,736,558 | € 1,846,187 | € 1,525,857 | ▼ 17% |
| Cash | € 306,806 | € 413,390 | € 566,579 | € 372,738 | ▼ 34% |
| Retained profit | € 739,666 | € 745,457 | € 750,938 | € 1,068,078 | ▲ 42% |
| Bank debt | € 234,808 | € 213,734 | € 193,862 | € 158,436 | ▼ 18% |
| Balance sheet total | € 2,503,912 | € 2,631,365 | € 2,746,475 | € 2,743,285 | |
| Employees (FTE) | 31.8 | 38.7 | 35.6 | 32.4 | ▼ 3.2 |
Key figures of HLB SEFICO, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to HLB SEFICO?
What happened at HLB SEFICO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- ATALCO SRL stepped down as director. NBB
- SUDEL SRL stepped down as director. NBB
- P. Van Impe & C° SRL stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 317,140 (▲ € 311,660 vs 2024). Source: NBB ↗
- PIA Group BelLux SA became a director. NBB
- ATALCO SRL became a director. NBB
- SUDEL SRL became a director. NBB
- P. Van Impe & C° SRL became a director. NBB
In short
From € 9,993 profit in 2022 to € 317,140 profit in 2025.
Paid € 269,556 in corporate taxes since 2022.
Best year ever: 2025, with € 317,140 profit.
On average € 88,900 of value added per employee in 2025.
A new publication or filing at HLB SEFICO? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of HLB BELGIUM comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
HLB SEFICOBehind HLB SEFICO is PIA Group BelLux SA. The shares are held by HLB BELGIUM (100%).
Directors
According to the 2025 annual accounts
Director · represented by Steven BROUCKAERT
Also active at: HLB LEGAL SERVICES, ACKMO ACCOUNTANTS & TAX ADVISERS, thg Bruxelles, Verschaeren & Mertens, SANDERS ACCOUNTING & CONSULTING, HLB BELGIUM, PME ASSISTANCE, VAN LOOY ACCOUNTANTS +67 more
since 2025
Director · represented by Wladimir VANDERBAUWEDE
Also active at: HLB LEGAL SERVICES, HLB BELGIUM
since 2022 · until 2027
Director · represented by André GARNIER
Also active at: HLB LEGAL SERVICES, HLB BELGIUM, HLB DODEMONT - VAN IMPE & Co
since 2022 · until 2027
Director · represented by Patrick VAN IMPE
Also active at: HLB LEGAL SERVICES, HLB BELGIUM, HLB DODEMONT - VAN IMPE & Co
since 2022 · until 2027
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Terhulpsesteenweg 166
1170 Watermaal-Bosvoorde
Rue Santos - Dumont 3 box 8
6041 Charleroi
Active since 21 September 1989
Nijverheidskaai(Kor) 3 box 3/0002
8500 Kortrijk
Active since 21 September 1989
Berchemstadionstraat 76 box 9
2600 Antwerpen
Active since 21 September 1989
Quai des Vennes 18-20
4020 Liège
Active since 21 September 1989
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 52 companies are registered at this address.
All companies at this address →HLB LEGAL SERVICES same network
€ 8,327 gross margin · 2025
Glaverbel
Chambre des Urbanistes de Belgique
IM Ultrasonic Belgium
€ -11,018 gross margin · 2025
AGENCE ET PROMOTION IMMOBILIERES
€ 28,264 gross margin · 2025
+47 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0438.341.713
- VAT number
- BE 0438.341.713
- Registered office
- Terhulpsesteenweg 166, 1170 Watermaal-Bosvoorde
- Names & denominations
- HLB SEFICO
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 21 September 1989
- Peppol
- Active · Active since 27 Mar 2026
- Activities · NACE
Activiteiten van (gecertificeerde) (fiscaal) accountants
Boekhouders
Boekhouders en boekhouders-fiscalisten
Accountants