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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Tight liquidity NBB
Cash and receivables cover 20 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
69 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Highbay (BE) from Etterbeek, company number BE0664616977, closed financial year 2025 with a result of € 411,090 after tax. For that financial year Highbay (BE) recorded a gross margin of € 2.5 million and equity of € 665,881. Compared with financial year 2024, the result moved from € -43,955 to € 411,090. Profitable, and profit is growing. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 6, 2026.
€ 665,881
▲ 161% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 411,090
▲ still € 43,955 loss in 2024
Profit after tax over the fiscal year.
€ 1.1 million
▼ 81% 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 € 165,881.
People and assets in 2025
0
Average over the fiscal year, from the social balance sheet.
Debts at end 2025
€ 47.9 million
▲ 81% vs 2024
€ 4.3 million is repaid this year. At this pace the long-term loan is gone in ≈ 11 years.
€ 2.8 million
▲ 10% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 123,588
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -6,055 | € -17,918 | € -12,430 | € 2,493,997 | ▲ € 2.5 million |
| Profit after taxes | € -63,400 | € -103,572 | € -43,955 | € 411,090 | ▲ € 455,045 |
| Equity | € -36,182 | € -139,754 | € 254,791 | € 665,881 | ▲ 161% |
| Total debts | € 3,762,996 | € 4,280,087 | € 35,924,963 | € 51,185,192 | ▲ 42% |
| Cash | € 89,257 | € 119,399 | € 5,702,382 | € 1,101,614 | ▼ 81% |
| Land & buildings | - | - | - | € 50,347,064 | |
| Retained profit | € -97,682 | € -201,254 | € -245,209 | € 165,881 | ▲ € 411,090 |
| Bank debt | € 1,887,472 | € 1,887,472 | € 26,419,143 | € 47,891,954 | ▲ 81% |
| Balance sheet total | € 3,726,813 | € 4,140,334 | € 36,179,754 | € 51,851,073 | ▲ 43% |
Key figures of Highbay (BE), fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Highbay (BE)?
What happened at Highbay (BE) in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Michal Niecko stepped down as director. NBB
- Geraldine Copeland-Wright stepped down as director. NBB
- Bryan York Colwell stepped down as director. NBB
- Fabijan Matosevic stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 411,090. Source: NBB ↗
- Michal Niecko became a director. NBB
- Geraldine Copeland-Wright became a director. NBB
- Bryan York Colwell became a director. NBB
In short
From € 63,400 loss in 2022 to € 411,090 profit in 2025.
Paid € 63,000 in corporate taxes since 2022.
Best year ever: 2025, with € 411,090 profit.
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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 EUTRACO Holding, MG Real Estate, Magnifera comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Highbay (BE)The shares are held by EUTRACO Holding (100%), MG Real Estate (89.4%) and Magnifera (10.6%).
Directors
According to the 2025 annual accounts
Michal Niecko
Director
since 2025 · until 2031
Geraldine Copeland-Wright
Director
since 2025 · until 2031
Bryan York Colwell
Director
since 2025 · until 2031
Fabijan Matosevic
Director
since 2025 · until 2031
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Sint-Michielslaan 125
1040 Etterbeek
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 69 companies are registered at this address.
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€ -60,778 gross margin · 2025
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€ 41,933 gross margin · 2025
IMMO WATER WEYDE
€ 852,453 gross margin · 2025
+64 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
- 0664.616.977
- VAT number
- BE 0664.616.977
- Registered office
- Sint-Michielslaan 125, 1040 Etterbeek
- Names & denominations
- Highbay (BE)
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 13 October 2016
- Peppol
- Active · Active since 17 Jul 2026
- Activities · NACE
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